Crypto for Dummies

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2022-04-18 17:03:01 What’s the difference between a token and a coin?

A coin is a digital asset (currency) that operates on its own blockchain.
Coins can operate completely independently of other financial systems or platforms.

Examples of coins: Bitcoin, Ethereum, Litecoin, Cardano, BIP (Minter), Toncoin, Dogecoin.

A token is a virtual digital asset that is based on an existing blockchain platform.

A token can be compared to a gift certificate: if you get a certificate for $500 for a purchase at Apple stores, you cannot buy goods at Samsung stores, much less go to a construction store and buy a screwdriver with this money.

Some of the most popular tokens include: USDT, USDC, Shiba, UNI, ApeCoin (APE), Axie Infinity (AXS).

So which is better?

"Better" is a completely incorrect concept.

Some projects do not need to bother, spend lots of time to create their own blockchain, and you can use an existing platform and create a token without too much effort, and on some blockchains it can be done literally in a few clicks. Открыть/Комментировать

2022-04-18 14:03:00 Elon Musk offered to buy all of Twitter's stock

Billionaire Elon Musk has offered to buy Twitter for $41.39 billion ($54.20 per share), according to an April 14 regulatory filing. The company's stock jumped 12 percent.

He justified his offer by the fact that the social network has great potential and he is ready to contribute his ideas and goals for the global development of the "network of the future”.

Perhaps with blockchain technology and cryptocurrencies. Открыть/Комментировать

2022-04-17 22:00:10 Tired of being the last to know information?

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2022-04-17 21:04:00 MetaMask Expands Institutional Services with Storage.

MetaMask Institutional (MMI), the institutional version of the Ethereum wallet, announced a strategic partnership with self-storage solutions Gnosis Safe and GK8, as well as Hex Trust and Parfin custodians.

Now MetaMask takes into account DAO's requirements for management solutions for participation in decentralized financial activities. Открыть/Комментировать

2022-04-17 17:04:00 Meta to set a nearly 50% commission on metaverse sales

The fee structure includes a 30% fee to the Meta Quest Store for virtual reality headset apps, as well as a 17.5% commission to Horizon Worlds.

On April 11, the corporation announced that it had opened up the ability for some users to create and sell virtual items, including NFTs, on Horizon Worlds.
The fees were not specified in the announcement.

OpenSea, the largest NFT marketplace by volume, charges 2.5% per transaction; its competitor LooksRare has a 2% rate.

Apple charges app developers 30% for sales through the App Store.
Meta CEO Mark Zuckerberg and other executives have previously criticized the company for high fees. Открыть/Комментировать

2022-04-17 14:04:00 Blockchain developer Avalanche is valued at $5 billion

Ava Labs, the blockchain developer Avalanche, raised $350 million at a valuation of $5.2 billion, Bloomberg reported, citing sources close to the investment round.
Bloomberg writes this, citing sources close to the investment round.

It's not clear who exactly took part in the investment, because the round itself was not public. Amid the news, the price of the project's native cryptocurrency AVAX jumped nearly 5% to $80.8. The cryptocurrency's market capitalization rose to $21.7 billion, according to CoinGecko.

In early April, investment giant Grayscale bought avalanche (AVAX) and polkadot (DOT) for its Grayscale Digital Large Cap Cryptocurrency Fund (GDLC).
The volume of purchases and the amount of transactions remain unknown. Открыть/Комментировать

2022-04-16 17:03:00 Nexo and Mastercard launch "world's first" cryptocurrency-backed payment card

Cryptocurrency lender Nexo said it has teamed up with global payments company Mastercard to launch the world's first "cryptocurrency-backed" payment card.

Nexo said the card, which is initially available in some European countries, allows users to spend without having to sell their digital assets, such as bitcoin, which are used as collateral to secure the loan provided. Открыть/Комментировать

2022-04-16 14:03:01 Twelve companies hold over $700 million worth of Ethereum - 212,875 ETH.

The largest owner on this list is Galahu Digital Holdings, owning 98,892 ETH, which is 46% of the 12 organizations.

In second place is Ether Capital Corporation with 4,512 ETN (20.44%). Also in the ranking are Coinbase Global (Z1,787 ETH), Meitu (15,000 ETH) and Hive Blockchain (1Z Z1 ETH).

Another list of "undisclosed" ETH holdings, includes MZ1 Capital, Gerber Kawasaki Investment Management, Arca Labs, Heat Capital and FD7 Ventures, as well as Three Arrows Capital and Groussale Ethereum Trust, both of which own tens of thousands of ethers. Открыть/Комментировать

2022-04-15 21:02:01 Hackers broke into Elephant Money project and stole $22 million worth of cryptocurrency

Representatives of the platform reported that users' funds are safe, and also urged not to sell its own token. Despite this, its price collapsed by 77%

According to the official report, the amount of losses amounted to 27.4 thousand BNB ($ 11.2 million at current exchange rates).

The company said the incident did not involve hacking through its employees.

Several smart contracts and resources were used to attack Elephant's vault.
The project is now working with its partners to investigate the hack.

Users were urged not to sell the platform's token. In doing so, its exchange rate plummeted 77%, according to CoinGecko. The daily trading volume of altcoin exceeded $271 thousand.

Elephant Money stressed that users' funds remain safe. Открыть/Комментировать