Category: Crypto Trends

The future of banking and financial services in Pakistan has taken an exciting turn with the signing of a project contract between the Pakistan Banks’ Association (PBA) and Avanza Group to build the country’s first blockchain-based national eKYC banking platform.
The aim of the initiative is to strengthen Anti-Money Laundering capabilities and tackle terror financing, an important matter for the State Bank of Pakistan (SBP), as well as to improve operational efficiencies and customer experience during onboarding.
The project contract was signed in Karachi on 2nd March 2023 by the group of 31 traditional banks associated with PBA, some of the bigger names being Industrial and Commercial Bank of China, Citibank and Deutsche Bank. With the launch of the eKYC system, these banks will be able to assess existing and new customers based on the sharing of customer updates with their explicit consent.

The eKYC system which has been coined as ‘Consonance’, will allow the banks to standardize and exchange customer data via a decentralized and self-regulated network. This platform provides convenience and increases the risk management of KYC processes and AML regulations, with the blockchain technology optimizing data verification and authentication.

In related news, the SBP has recently proposed new laws to ensure the launch of a central bank digital currency (CBDC) by 2025. Through the licenses to electronic money institutions for CBDC issuance, the SBP is showing commitment towards progress, adoption of technology and digitization of the financial system.

Pakistan is among the countries striving ahead in the digital currency race and making steps in the digital payment system wave. This has been acknowledged by the Binance and BNB Chain execs, who have teamed up with the National Bank of Kazakhstan to launch their own CBDC project. The Astana Financial Services Authority has granted Binance a permanent license to manage a digital asset platform and provide custody services in October 2022.

The Central Bank of Kazakhstan has embarked on its project of centralized digital currency ‘digital tenge’ and is set to run its project until the end of 2025. Moreover, Kazakhstan is also partnering with Binance to teach blockchain technology courses to 40,000 people across the country, introducing students to blockchain technology as part of the university curriculum.

Now, with the PBA leading the way in blockchain technology, it is expected that more financial institutions will join in its effort to create an easier and secured banking experience for Pakistan. The PBA’s new eKYC system will cut down the time on manual KYC processes for customers. In the coming years, this platform could not only lay the foundation for a digital economy even further, but also improve the banking experience for all Pakistani citizens and businesses.

In conclusion, the move towards blockchain technology and the digital currency is a welcomed one and could be a big stepping stone in the future of financial services. By the end of 2025, the State Bank of Pakistan could potentially launch its CBDC and the PBA’s project would no doubt play an important role in implementing and regulating the platform. All these efforts could help unlock the future of finance in Pakistan.

Cryptocurrency and the Web3 have revolutionized the concept of decentralization, allowing for a new era of trustless investments. With over 16,000 cryptocurrencies available, however, investors often feel overwhelmed. To alleviate this problem, crypto launchpads have risen to facilitate the curation of investment opportunities. They offer retail investors preferential or exclusive terms while also providing investors access to useful information.

The primary benefit of crypto launchpads lies in the access they provide to high quality deals. In contrast to websites like Y Combinator, accelerator models are now accessible to retail investors. This provides them with the benefit of detailed due diligence reports and vetted financials. In addition, project creators are able to select the right investment opportunities through launchpad tokenholders who can offer high quality investments and exclusive terms.

In the tripartite model of the launchpad ecosystem, all players benefit. The startup gains capital, the investor receives exclusive deals, and the community has more decision-making power. This dynamic is especially valuable in the DeFi space, where smart contracts and oracles must be vetted for investor security. Crypto launchpads provide this service, cutting out the noise and identifying viable projects.

Despite these benefits, crypto launchpads are far from perfect. Communities could be better equipped with experienced investors and quality launchpad communities, and token holders need to be further educated on how the system works. Self-regulation may also be necessary until regulations are put in place.

These issues notwithstanding, crypto launchpads have the potential to revolutionize decentralized finance. By giving retail investors access to high-quality deals, providing project creators with necessary resources, and offering the community more responsibility, launchpads differentiate Web3 from Web2. With the right follow-through, crypto launchpads may be the beginning of a decentralized venture capital model: one that not only facilitates trustless investments, but brings these opportunities to the masses.

It’s been a turbulent past seven days in the crypto market, with prices largely flat as investors look to U.S. Central Bank Chair Jerome Powell’s upcoming testimony before Congress. Bitcoin and Ethereum’s price index opened the Asia business day flat, and 24-hour trading volumes have dropped significantly. (https://www.sullivansusa.net/)
Meanwhile, Filecoin, the decentralized storage network with a two-billion-dollar market cap, has been the top performer of late, driven in part by its exposure to China and its generous subsidies for those storing data on its network.
But the success may be short-lived due to Filecoin’s heavy centralization around its top-10 miners, many of which are based in China and owned by cloud storage companies. To combat this, Filecoin has launched its ‘Filecoin Plus’ program, which seeks to carve out quality storage providers from the ones polluting the network with junk data. To incentivise this, Filecoin Plus subsidises by offering a 10x larger block reward.

One factor to watch is how storage demand holds up when storing data isn’t free. Filecoin’s revenue has slumped wtihin the past year, and it remains to be seen what affect the subsidies will have in the long-run.

Short bitcoin funds had nearly $10 million in inflows over the last week, while long bitcoin funds had $12 million in outflows. Equity markets have returned to their winning ways, and technology-focused Nasdaq, S&P 500, and Dow Jones Industrial Average have all ticked up.

Ahead of his return visit to Congress, Chairman Powell is likely to be in a predicament, as the U.S. economy doesn’t seem to be responding to previous interest rate hikes. January’s unexpected job numbers demonstrated that the Fed has a lot of work to do in bringing down inflation. The CME’s FedWatch tool is predicting a 69 percent chance of a 25 basis point rise, and a 30 percent chance of a 50 basis point rise.

Investors have taken to the prediction market PolyMarket, also putting an 80 percent chance of a 25 bps increase during the March meeting, and a 23 percent chance of a 50 bps increase in the near future.

Additionally, the decentralized computing market is seeing increased activity, with other storage networks like Storj and Siacoin rising 16 percent in the last week. On Tuesday, BTC was recently trading at about $24,273, down 2.2%, while ETH was changing hands at $1,647, off 3.5%. Despite the bearish market, Bitcoin traders have been liquidating both long and short positions, with $130 million and $179 million of BTC short positions liquidated in the last week respectively.

In the end, one should anticipate the crypto market to tread carefully in the near future, and with Filecoin hoping to introduce its Filecoin Virtual Machine, the success of the project depends on whether its userbase can pay the premiums that come with decentralization.

As the ETHDenver conference concluded on Sunday, March 5, the Colorado capital city saw a few weeks of networking, collaboration and meetings at the “hacker houses” scattered around the Denver Metropolitan Area.
Though attendees of ETHDenver had to grapple with their own COVID-19 diagnoses, they still managed to find time to network and develop interesting projects within the four “hacker houses” sponsored by blockchain companies, and overseen by hosts Jessy and Waylon Jepsen.
The “hacker houses” weren’t just a temporary haven for ETHDenver attendees: they also provided an opportunity to form long-term connections and meaningful relationships, while also having access to potential investors and co-founders.

Jesse, the host of Jesse’s hacker house, was inspired to organize one during the last ETHDenver conference after noticing a few people from abroad posting about their hunt for a place to stay in Denver. Despite the positive test results for some of her house-guests, Jesse stayed positive, and beamed of her house-guests while providing Cointelegraph with a tour at one of the hacker houses. With 300 technical-minded individuals applying for a place to sleep and network at the hacker houses, Jesse wanted to make sure the vibe was right and the people seemed suitable for her event.

During ETHDenver’s closing ceremony, John Paller, one of ETHDenver’s co-founders, announced that next year’s mascot will be the “SporkWhale” which will represent ownership in the community. Plans for satellite feeder events in other countries in preparation for the ETHDenver “Super Bowl” were also mentioned at the closing ceremony.

Overall, ETHDenver provided a unique, rowdy and yet entrenched atmosphere for thousands of crypto members and developers, making it a truly one of a kind event. It was a place for attendees to create meaningful connections and establish relationships with those who share the same ethos and ambition. As the crypto and blockchain communities continue to grow, events such as ETHDenver will become ubiquitous and allow more blockchain enthusiasts to mingle and meet, making the bonus mile of networking even more accessible.

It’s a battle of the billion-dollar titans in the crypto world as controversial crypto exchange FTX and powerhouse asset manager Grayscale Investments square off in a legal dispute that could result in unlocking billions of dollars in investments. FTX’s affiliate Alameda Research has filed a lawsuit in Delaware’s Court of Chancery against Grayscale and its CEO Michael Sonnenshein, in a bid to unlock $9 billion dollars in investments that are currently being withheld from FTX customers. The legal action also claims that Grayscale’s parent company Digital Currency Group (DCG) and CEO Barry Silbert are to be held responsible.

The lawsuit arose after the spectacular crash of FTX into bankruptcy in November last year. The crypto exchange was mismanaged by its team, commingling funds, and even placing risky bets with customer money. This has resulted in hundreds of millions of customer cash being reported as missing, with a large amount of it presumed stolen.

John J. Ray III, the FTX Debtors’ CEO and Chief Restructuring Officer, has commented that the legal action is “recover[ing] additional fund”s for both FTX customers and creditors, as well as for other Grayscale Trust investors that are being harmed by Grayscale’s allegedly improper ban on redemptions.

FTX further alleges that in the past two years Grayscale has extorted over $1.3 billion in exorbitant fees in contravention of the business trust agreements. If Grayscale had lowered those fees and allowed investors to withdraw their money, FTX asserts that its own shares would be worth 90% more than they currently are, generating a total estimated return of $550 million.

Another victim of this legal debacle is the now-defunct crypto hedge fund Three Arrows Capital (3AC). 3AC held a substantial number of Grayscale shares, but when their own finances started to go south and they needed to reclaim their investments, they were denied and the funds were locked away.

A Grayscale spokesperson released a statement to Decrypt calling the lawsuit “misguided” and claiming that Grayscale has had a “transparent” process in attempting to achieve regulatory approval to convert GBTC into an exchange-traded fund (ETF), which would presumably assist in resolving the current issues. The Grayscale/SEC dispute concerning this will also be presented to the US Court of Appeals next month.

All eyes will be on this legal proceeding as it unfolds, with the stakes high for both FTX and Grayscale, and a potential of unlocking billions of dollars lying in the balance. A rare rivalry between two crypto market juggernauts that is likely to enthral and captivate the community for some time to come.

Bitcoin maximalists may not be too thrilled about this, but digital art fans are in for a treat. Yuga Labs, the $4 billion company behind the Bored Ape Yacht Club (BAYC) collection, has announced their first Bitcoin-based NFT project, TwelveFold.
Set to debut later this week, the limited edition collection of 300 generative art pieces will all be inscribed to the Bitcoin blockchain, making the project one of the highest-profile launches of its kind via Ordinals—a new way of committing artwork and media to Bitcoin by permanently attaching each to an individual Satoshi.
This is an interesting development as every other project under the Yuga banner resides on the Ethereum blockchain, and they currently have 10,000 or more NFTs across eight projects. TwelveFold is also smaller in scale than usual, as it only consists of 300 pieces compared to a project like Autoglyphs, which has about 512 NFTs on Ethereum.
The pieces will all be twelve by twelve grids with 3D graphics and hand-drawn features. According to Yuga, this design signifies data stored to the Bitcoin blockchain, and there will be no connection between the project and their Ethereum-based IPs.
Yuga Labs said in a statement that “TwelveFold is an opportunity for us to explore, experiment, and set a foothold in the world of Bitcoin and digital scarcity. We are inventing our own path for digital art and self-expression on the blockchain.”
The announcement of the project comes amid a rapid rise in the popularity of NFTs and Ordinals, and according to Yuga Labs the auction already generated 735.7 BTC (about $16.5 million). The highest-selling token went for as much as 7.1159 BTC, or around $159,600 at the time of writing, while the lowest accepted bid was 2.2501 BTC, or around $50,400.

Yuga are inviting bidders to participate in the auction as long as they have a self-custodial wallet containing bitcoin and an empty bitcoin address to receive the art. An important stipulation is that the address must be empty, which mitigates the risk of the inscribed bitcoin being transferred in the course of normal bitcoin transactions.
Michael Figge, the designer behind the 3D project and NFT studio WENEW, described the project as “inspired by the relationship between time, mathematics and the blockchain” that cycles between “winter, spring, summer, autumn.”
It’s an eye-catching concept, and ultimately it serves as a great introduction to the newfound world of Bitcoin-based NFTs. Welcome to the Bored Ape Yacht Club’s Bitcoin-Inspired NFT Collection, the Crypto Cycle—where digital art meets mathematics meets the blockchain.

Blur.io is the leading Ethereum-based NFT Marketplace, offering professional traders batch shelf and floor-sweeping transactions, order book NFT transactions, and the ability to browse and purchase NFTs from other marketplaces with instant liquidity.

What is Blur.io and its Marketplace Fees?

Blur.io is a professional NFT trading platform that offers a convenient and cost-effective solution for traders. It does not charge any transaction fees and recommends a default royalty rate of 0.5% for buyers, which can be customized or even set to 0. Blur.io is a trader-friendly platform that allows users to easily buy, sell, and trade NFTs with no hassle. It also provides a secure and reliable environment for users to store their digital assets. With its user-friendly interface and low fees, Blur.io is the perfect platform for professional NFT traders.

Blur’s Team

Blur is a revolutionary product founded by MIT-graduate @PacmanBlur and supported by venture capitalists Paradigm. It is designed to help users protect their personal information online and keep their digital identity safe. Blur offers a range of features such as password management, secure form filling, and anonymous browsing. It also provides a secure payment system and a virtual credit card to help users protect their financial information. With Blur, users can enjoy a secure online experience and protect their personal data from hackers and other malicious actors.

$BLUR Token Airdrop

Blur, the NFT platform, recently completed its $BLUR token airdrop after Season 1 of its incentivization program. Traders earned up to $3 million in $BLUR tokens and the project launched at a $400 million valuation. Blur is now gearing up for Season 2 of its airdrop program, and the best way to earn $BLUR tokens is to use the platform by buying, selling and listing your NFTs. With the potential to earn up to $3 million in tokens, Blur is an exciting opportunity for NFT traders to get involved in the crypto space.

Blur is currently doing its season 2 of airdrops. Learn how to maximise your potential airdrops with our guide. Blur Airdrop Guide: How to Get Season 2 Rewards?

BLUR Tokenomics

Blur has minted 3 billion BLUR tokens, with 51% allocated to the community, 29% to past and future core contributors, 19% to investors, and 1% to advisors. A community treasury of 360 million BLUR tokens, equivalent to 12% of the total token supply, can be claimed by NFT traders, historical users of Blur, and creators. 39% of the BLUR supply will be distributed through contributor grants, community initiatives, and incentive programs, with 10% allocated to the next incentive release. (https://www.smallhandsbigart.com/) The vesting of BLUR tokens will occur continuously according to a set schedule for each group of token recipients.

Marketplace Growth

Blur is the world’s largest NFT Marketplace, having flipped OpenSea within 6 months of its release. It has achieved this success due to its user-friendly UI, low fees and deeper liquidity for NFTs. With over 400,000 active users and $1.4 billion in traded volume, Blur is the go-to platform for NFT traders. Its incentives program has helped it become the leading NFT Marketplace, offering users a secure and reliable platform to buy, sell and trade digital assets. With its innovative features and competitive fees, Blur is the perfect platform for anyone looking to get involved in the NFT space.

Conclusion

Blur is revolutionizing the NFT market in 2023 with its $BLUR token airdrop providing an eye-watering return on investment and reducing the cost of trading. The project has taken the digital art and NFT market by storm and recently flipped OpenSea in volume. It offers users an intuitive platform to trade, purchase and list their NFTs with no transaction fees or royalties charged, and is backed by some of the biggest crypto funds in the industry. With its innovative approach to the NFT market, Blur is set to become the go-to platform for digital art and NFT trading in the coming years.

The 2020 edition of ETHDenver, the biggest Ethereum community event of the year, was an epic spectacle of technology, cheers, and joyful memories that will stay with its participants for years to come. Held at Denver’s National Western Complex, the two-week gathering saw 16,000 tickets sold and 600 staff members helping to bring the festivities to a spectacular close.

The grassroots ethos of the festival was amplified by a friendly, but fierce competition for supremacy in the hackathon of ETHDenver. When the dust settled on Sunday, the event’s iconic mascot – the SporkWhale – took center stage as ETHDenver’s co-founder, John Paller, made the exciting announcement of the festival’s upcoming plans.

The SporkWhale mascot was chosen to symbolize the conference’s mission of embracing decentralized community ownership, and Paller stated that the organizers of ETHDenver would soon be in talks with countries around the world to launch feeder events as leading up to the event’s planned “super bowl” in 2021. In his closing remarks, he also revealed that with the 2021 edition of the event being bigger, better and grander, the next SporkWhale event was sure to bring a stunning display of innovation and collaboration.

At a time when the crypto markets are seeing heightened volatility due to Silvergate’s recent failure, ETHDenver serves as a reminder of the resilience of the Ethereum community and its ability to withstand difficult periods of growth. The festival succeeded in conveying the spirit of genuine achievement and punk rock energy, bringing together developers from all walks of life. From the exchanges of high-level technological know-how to the silly songs by Jonathan Mann, the event provided a fill-fledged experience for all who attended.

The success of ETHDenver 2020 is a testament to the power of collaborative projects, built on the decentralized principles of community-based ownership. As ETHDenver organizers gear up to bring their extravaganza to new countries around the world, the anticipation for the SporkWhale Spectacle of 2021 is already catching on. With an even more powerful show slated to unfold in the coming year, it is obvious that the Ethereum ecosystem conferences living on the spirit of “SporkWhale” will continue to light up the crypto and blockchain space with optimism and unfettered creativity.

The crypto market was feeling a bit flat heading into the start of the week, with both bitcoin and ether hovering around their recent prices and the effects of Silvergate’s crypto failure reverberating through the market. As the week progresses, traders are also preparing for the potential boost that could come from positive economic data from a newly-reopened China. Amidst this chaos, ETHDenver provided a dose of inspiration for coders, developers and crypto enthusiasts around the globe. This event, held annually in Colorado, is created to showcase the groundbreaking work that people in the blockchain space are doing, and is known to have a punk-rock energy and DIY ethos that stands in stark contrast to the exploitative money-grabbing found in other crypto events.

Rather than appealing to the masses, ETHDenver proudly shows off the ‘rough edges’ of the Ethereum ecosystem. This includes events designed to “scare away normies”, like the annual contribution from Jonathan Mann (aka the ‘Song of the Day Guy’) and the dropping of 500 pizzas on an upstairs table, resulting in massive queues that made it hard to move – bizarre, but awesome.

Yet whilst ETHDenver may seem a bit chaotic and disorganised, this is simply evidence of a growing community that is drawn together by their shared interests in building something from the ground up. With many post-event clips shared online and plenty of people enjoying the event vicariously, it’s clear to see why ETHDenver has become a beloved annual gathering.

It’s this sense of community that is keeping the Ethereum ecosystem busy, even during the slow periods of crypto growth.

In spite of the bearish market, March Zheng, co-founder and managing partner of Bizantine Capital, highlighted how China’s re-opening could lead to an increase in appetite for assets like crypto – a boost in the “animal spirits” that may balance out fears from the U.S. equity markets and rising rates.

Overall, ETHDenver is a fantastic example of what can be achieved when people come together for the greater good and use their collective passion for something bigger. Sure, there will be chaos, a few pizzas thrown around, and maybe even some MIDI tunes to make you cringe, but none of that can detract from the genuine community spirit and intrepid journey of those on the Ethereum blockchain.

Uniswap Labs, the well-known decentralized exchange (DEX) provider on Ethereum, has recently announced the launch of their new self-custodial mobile wallet. This revolutionary wallet will offer users the ability to swap tokens on both level-1 and level-2 networks without having to switch to a different network. The wallet will be accessible for iPhone users on TestFlight, Apple’s beta-testing platform, with a wider release expected to arrive.

Uniswap’s mobile wallet is garnering attention for its features. According to their announcement, users will be able to benefit from the wallet’s integrated charting capabilities, the ability to search tokens across multiple networks, connection to multiple web apps on different networks, samples of favourite tokens, market price and volume monitoring and notifications upon completion of transactions. As an added security measure, their seed phrases and private keys will be encrypted and stored on the device, using Apple’s secure enclave for exclusion from device backups.

Security is a priority for Uniswap. To that end, they have enlisted Trail of Bits, a well-respected crypto audit firm, to inspect the wallet. They have also allowed users the option of manually backing up their phrase via paper or encryption on iCloud.

Uniswap has faced some issues while trying to launch the app. The first version was approved by Apple in October last year, yet the final version was rejected by their App Store just a few days before the projected December launch. Since then, Uniswap Labs has written back addressing those concerns and reiterating that they are compliant with their guidelines. Unfortunately, Apple has yet to grant them permission to launch, leaving Uniswap in limbo.

As an alternative measure, Uniswap Labs has made the decision to offer early access to a few thousand users through TestFlight. This leaves the company in good stead, as it allows them to later prove to Apple that their product is safe and compliant with their requirements.

Uniswap’s mobile wallet will offer users a more secure and user-friendly way to swap tokens across the different networks without having to switch from one to the other. With the help of Apple and their peerless security, Uniswap will soon be able to launch their revolutionary self-custodial mobile wallet and provide a secure trading experience for users.

zkSync is a Layer 2 solution for Ethereum that provides unlimited scaling and privacy. It is built on zero knowledge (ZK) rollup architecture and is designed to address the inherent drawbacks of Ethereum such as slow transactions and high gas fees due to limited throughput. Layer 2 blockchain protocols separate ownership from computation, allowing for smart contracts to hold all assets on the main chain while the off-chain component is responsible for computation and storage. As a result, zkSync provides a high transaction rate and L1 level of security, allowing users to transfer Ether and ERC20 tokens quickly and securely.

Layer 2 on Ethereum

zkSync Era is the first zero-knowledge EVM for Ethereum, launched by Matter Labs in February 2023. It is an open-source project with an MIT/Apache 2.0 license and offers developers the ability to deploy and test their dApps on the mainnet. The mainnet is currently closed to end users until Full Launch Alpha, the final milestone of zkSync Era. In the meantime, Matter Labs is actively pursuing security audits and bug bounty programs to ensure the safety and reliability of the platform. With zkSync Era, developers can take advantage of the scalability and privacy of zero-knowledge proofs to build powerful and secure dApps on Ethereum.

Matter Labs Team

Matter Labs is a Berlin-based startup that has created zkSync, the first EVM-compatible zero knowledge rollup supporting general-purpose applications in Solidity without costly gas fees and performance barriers. The startup has raised over $400 million from two dozen VC funds, crypto incubators, and investors, including the Ethereum Foundation, Dekrypt Capital, Placeholder, Dragonfly Capital, 1kx, USV, BitDAO, OKX Blockdream Ventures, and Huobi Venture. With its innovative technology, zkSync is set to revolutionize the blockchain industry and make it easier for developers to create applications on the Ethereum blockchain.

ZK rollups VS Optimistic rollups

Rollups are a type of layer 2 solution designed to increase scalability on the Ethereum blockchain. They allow for low-cost verification by rolling up many transactions into one batch and sending them all to Ethereum in one action. This reduces the amount of data that needs to be processed on the main Ethereum chain, allowing for faster and cheaper transactions. Rollups also use smart contracts to lock assets on the Layer 1 blockchain, providing an extra layer of security. With rollups, users can enjoy faster and cheaper transactions without sacrificing security.

ZK Rollups and Optimistic Rollups are two different types of Ethereum scaling solutions. ZK Rollups use zero-knowledge proofs to verify the batch of transactions and settle it as final on the Ethereum main chain, while Optimistic Rollups assume that every off-chain computation is valid unless proven otherwise. ZK Rollups have higher transaction rates and cheaper fees than Optimistic Rollups, making them a more cost-effective scaling solution. Both solutions are designed to help Ethereum scale and provide users with faster and cheaper transactions.

zkSync Features

zkSync is a Layer 2 scaling solution for Ethereum and ERC20 tokens that enables fast and cheap transfers. With a transfer fee of $0.02, a withdrawal fee of $1.59, and a one-time activation fee of $0.44, zkSync is a cost-effective way to scale transactions. It also supports gasless meta-transactions, smart contract interoperability, atomic swaps, limit orders, and native layer 2 NFTs. All of these features are open source and available to developers, making zkSync an ideal solution for crypto exchanges and other applications that require fast and cheap transactions.

It allows users to send and receive transactions faster and cheaper than on the Ethereum mainnet. It uses zero-knowledge proofs to ensure that all transactions are secure and valid. However, some users have reported slow speeds when withdrawing funds back to the L1 protocol, and dApps are less common due to the high computational power needed to prove every batch. Additionally, there is an issue of EVM compatibility, which further hinders dApps. Despite these drawbacks, ZkSync is a promising scaling solution that could help Ethereum scale and become more efficient.

Users are able to make cheap and fast transfers. It supports the majority of web3 wallets, including Metamask, Ledger, Trezor, Coinbase Wallet, Fortmatic, Portis, Keystone, KeepKey, and Torus. zkSync has brought cheaper crypto payments for millions of transfers, with over 14 million total transactions and 135 thousand verified blocks. Developers can find extensive documentation and resources to start building on the official website. The zkSync ecosystem consists of around 100 interesting projects, making it a great choice for users looking to explore the world of Ethereum scaling.

Conclusion

zkSync is a layer 2 blockchain protocol that enables fast, secure and low-cost transactions. It is a great choice for developers and gamers who want to build on the Ethereum blockchain. The zkSync ecosystem is dominated by DeFi, wallet, bridges, NFTs, and infrastructure projects. Argent, OKX Wallet, 1Inch Network, Balancer, Onto Wallet, Yearn.finance, Curve, ZigZag, Taker, Mute.io, and Reddio are some of the biggest projects onboard. Currently, zkSync doesn’t have a native token, but once it becomes fully decentralized, it will have a native token as a reward mechanism for ZK rollup operators and for staking. The zkSync AirDrop will also come with a native token.

ZkSync is a Layer 2 scaling solution for Ethereum that provides high throughput of up to 100,000 transactions per second. It is powered by Zinc, a native programming language, and offers smart contract interoperability with Solidity. Hacken auditors can analyze and review zkSync smart contracts for vulnerabilities, and the blockchain is secured with a security-first mindset and professional expertise of the leading smart contract auditor. zkSync also runs a self-hosted bug bounty program and may request the assistance of professional bug bounty platforms in the future.

The all-star quest, “Krapopolis,” has now been renewed for a third season—despite never having aired a single episode! The mythical animated TV series, set in ancient Greece and starring an all-star cast including Hannah Waddingham, Richard Ayoade, Matt Berry, Pam Murphy and Duncan Trussell, is set to premiere on Fox sometime in 2023. But hold on, there’s more.

To bring viewers ever closer to the all-star adventure of a lifetime, Krapopolis launched its inaugural 10,420 Krap Chicken non-fungible token (NFT) collection in August. These NFTs let holders vote on show elements, access behind-the-scenes content, attend IRL experiences with the cast and crew and redeem rewards for official merch and digital goods. Granted, the floor price of the collection on OpenSea sits lower than the cost to mint an NFT. But come on, it’s Krap Chicken!

Fox’s president of scripted programming, Michael Thorn, told Deadline he remained “bullish” on the project and was confident with the unusual order for a third season. In July an announcement brought the news of Fox Entertainment’s investment of $100 million into the project. Furthermore, OpenSea reported the project has done 418 ETH (approx. $650,000) in sales so far.

It’s no surprise that the Krapopolis project is riding the current wave of NFT mania! The media has become awash with NFT content and it seems everyday new NFT projects– like Tim Ferriss’ Ethereum project, “The Legend of Cockpunch”– are released. In fact, the success of “Cockpunch” minting is often reported as the biggest NFT market winner to date. With over 5,500 NFTs sold, the project yielded $2 million in proceeds to the Saisei Foundation.

In the world of the walking, talking, fighting roosters of Cockpunch, NFT owners use their characters to create derivative artwork and projects. By now, we’ve all seen the inroads NFTs have made into the world of virtual bands, apparel, themed restaurants and drinks, as well as the ability for holders to cash in on rewards for digital goods.

Fox is embracing this NFT craze, with launches of its exclusive fan experiences like the “The Masked Singer” digital experience or its BCL business and creative unit. Of course, Krapiopolis is riding this new wave of NFTs, and its approach is sure to extend beyond the series– to bring viewers in with holding a stake in the show.

The initial launch of Krap Chicken was an intriguing and inviting way to draw viewers into this mythical animated world of “Krapopolis.” It’s no small wonder that the project has been green-lit for a third season. As excitement builds, let’s see what the creators and cast of “Krapopolis” unveil in the coming year!