Aurelia Butler

Founder & CEO of India’s very own crypto-assets exchange WazirX, Nischal Shetty has spent 228 days sharing his tips on building web3.0 platforms, metaverse, and communities with his Twitter audience. His last tweet on September 17, discussed the importance of letting your community build while developing a decentralized platform.He further explained how centralized platforms like Twitter, Facebook (NASDAQ:META), iOS, and Android were initially supportive of developers, Twitter being the first to enable APIs for users to build. However, soon they started restricting and competing with their dev ecosystem and started building third-party app features.Shetty is extremely active on Twitter, sharing his knowledge and building decentralized platforms throughout the day. On his Day 226 tweet, he congratulated the team behind Ethereum on their merge event where the network upgraded to a less energy-extensive technology.In another tweet, the CEO emphasized what Web2.0 offers Web3.0 in a number of lessons, including growth hacks, growth tools, analytics, other SAAS, and the people culture. Shetty had previously also stressed that Web1.0 was about providing information to the public, while Web2.0 was about building a social web, in comparison to Web3.0 which is focused on creating a value web.Nischal is a huge fan of decentralization. He often talks about DAOs and their ability to provide a unanimously decided leadership, solving the question of “who will lead” in situations where users just want to participate and not the head.Currently, Shetty is busy building Shardeum, an EVM-based, linearly scalable smart contract platform that enables low gas fees. Shardeum uses dynamic state sharding to maintain true decentralization & solid security.The post WazirX Founder & CEO Nischal Shetty Shares Thoughts On Web3.0 appeared first on Coin Edition.See original on CoinEdition More

The crypto community enters a contentious argument about whether Bitcoin would follow Ethereum now that the long-awaited network upgrade is over.The Merge, a modification to the Ethereum (ETH) blockchain’s token creation and transaction ordering, happened early Thursday. The process implies a switch to the proof-of-stake model, which entails putting up ETH as part of sorting transactions and minting currencies.According to some estimations, the change would cause Ethereum to become 99% more energy efficient, which will significantly satisfy regulators and institutional investors who have long complained about how carbon-intensive crypto is. Vitalik Buterin, the founder of Ethereum, retweeted on Thursday that post-merge the worldwide electricity consumption will reduce by 0.2%.On the other hand, verified handle punk6529 argued that “the optimal outcome for cryptocurrency at large at this stage is Bitcoin using Proof of Work and Ethereum using Proof of Stake.” They believe it will be better to “experiment in parallel with the two largest ecosystems and have multiple pathways to win.”Deutsche Bank research analyst Marion Laboure said authorities “may progressively compel the proof-of-work cryptocurrencies to cut down energy use” if Ethereum’s new staking method proves more environmentally friendly.She also predicted that the attractive returns given in exchange for staking Ethereum tokens to facilitate transactions “may position Ether as an alternative to bonds or commodities for institutional investors.”The proof-of-work mechanism rewards miners with Bitcoin tokens for approving legitimate transactions and rejecting fraudulent ones. On the other side, the staking option for Ethereum depends on individuals purchasing a large amount of Ether and then having faith in them not to harm the network.The post Crypto Community Enters Contentious Debate on BTC Adopting PoS appeared first on Coin Edition.See original on CoinEdition More

According to CEO Noel Quinn, banking giant HSBC would not provide cryptocurrency services. The CEO said, “I do worry about the sustainability of the valuations of crypto,” highlighting HSBC’s notably more negative stance on cryptocurrencies than that of other banks.Institutional investors are losing interest in digital currency as a result of its continued volatility and other risks. Furthermore, the British government has recently warned its citizens against using cryptocurrency.The CEO recently stated in an interview with CNBC-TV18 that the corporation has no plans to invest in cryptocurrencies. The organization flat-out refused even to consider Cryptocurrency as a potential investment.Quinn said:Quinn emphasized that cryptocurrencies are extremely unpredictable, saying, “I do worry about the sustainability of the valuations of crypto, and I have done so for a while.” Adding that he doesn’t want to speculate on “where it will go in the future.”Quinn is skeptical about the prospects for digital assets in the current market and customer demographic.Financial institutions have lost faith in Bitcoin and similar cryptocurrencies due to their extreme volatility and the upsurge in cyber threats related to the crypto space.More than half of all cyberattacks have specifically targeted cryptocurrencies, with nearly $1 billion stolen. A notorious hacking group known as Lazarus was able to obtain over $540 million in digital assets from Ronin Bridge and other DeFi networks. For this reason, HSBC does not include it in its asset allocation models.Furthermore, Quinn opened up about his stance on stablecoins stating, “For similar reasons, we’re not rushing into stablecoins.”He clarified that depending on the stablecoin’s governing organization and the reserve’s structure and accessibility, the concerns regarding stored value may or may not be fully addressed.Despite not being involved with cryptocurrencies, the banking giant is betting on the emergence of the metaverse. The financial giant partnered with The Sandbox in March to join the metaverse market. The partnership will allow virtual communities worldwide to engage with global financial services companies and sports communities in The Sandbox metaverse.The post HSBC CEO Says No Crypto Plans, Cites Volatility Concerns appeared first on Coin Edition.See original on CoinEdition More

The decentralized crypto project Shiba Inu tweeted the launch of its card collectible game, Shiba Eternity, in Australia. The tweet announced that the Australian members of the ShibaArmy can download the game on Apple App. It added that the Google (NASDAQ:GOOGL) Play Store would soon launch the game.Shiba Eternity is the collectible card game (SHIB CCG) of Shiba Inu. The game was under development for several months. Before the launch of the game itself, the Shiba Inu lead developer Shytoshi Kusama was so excited to describe the game as “super strategic” and highly potential.Shibu Inu was in an effort to test the worldwide performance of the game. Earlier, the game was launched in Vietnam, which had a grand reception. The massive downloads of the game made it evident that there was a necessity in increasing the game’s server capacity.Shiba Inu’s tweet received wider acceptance from its members. Many traders conveyed their regards and enthusiasm for a worldwide release of the game while some of them showed their interest in a sooner launch of the game in Google Play Store.Wider acceptance and more downloads are expected by the project. So the team implemented more steps to make the game’s adoption better. Eventually, the team increased the server capacity of the game by 50x to onboard more players.Last month, William Volk, Shiba Eternity Consultant, exhibited the game at the world’s largest video game event.The post Shiba Inu Launches its Game Shiba Eternity in Australia appeared first on Coin Edition.See original on CoinEdition More

Gem Global Yield LLC (GGY), an alternative investment group, committed $200 million to the sports metaverse firm LootMogul, to expedite the adoption of blockchain gaming for sports organizations and athletes.This development came in a press release by PRNewswire on Friday, stating that it was a move to deliver an immersive experience for sports fans.By the terms of the agreement, GGY will provide LootMogul with a share subscription facility of up to $200 million for 36 months following an equity exchange listing. The listing allowed LootMogul to draw funds by issuing equity shares to GGY. LootMogul controls the timing and the maximum size of such drawdowns but has no minimum drawdown obligation.Additionally, the funding will accelerate the growth of LootMogul’s metaverse for sports games. The company said in a statement:Raj Rajkotia, the CEO of LootMogul, added that the “investment commitment from GGY empowers athletes, fans, and brands to provide an immersive engagement and tools to bridge experiences between web3 metaverses and the real world.”GGY, which has 3.4 billion in assets, has provided funding for several cryptocurrency firms. Through the sale of the H20N token in June, the group invested $300 million in the CeDeFi exchange Unizen and $150 million in the South African company H20 Securities.The post Sport Metaverse Firm LootMogul Gets $200M Funding from Gem Global appeared first on Coin Edition.See original on CoinEdition More