Solana takes a dip 📉 5K times cheaper transactions
A 5-hour outage caused by the infinite loop bug ! Polkadot grant you need to track! Real-time analysis and smart bots for risk-free crypto trading! Breaking down The State of Crypto Report 💡
💡The State Of Crypto: Fairer, Cheaper, Faster Everyday Finance
Today, we’re breaking down The State of Crypto report into three key benefits that crypto brings to the traditional payments industry: cost-effectiveness, speed, and increased accessibility.
The State of Crypto: Fairer, Cheaper, Faster Everyday Finance, a report written in collaboration between The Block Research and Coinbase.
Affordability
The report's findings reveal a widespread public desire for innovation, with 71% advocating for cheaper transactions.
The traditionalfinancial system imposes hefty fees, particularly affecting the underbanked and small businesses.
In contrast, blockchain networks offer transactions up to 5,000 times cheaper, exemplifying a shift towards cost-effectiveness.
Speed
Crypto's decentralized nature and programmable platforms eliminate the need for intermediaries, ensuring peer-to-peer transactions with remarkable speed.
The report highlights blockchain transactions completing up to 432,000 times faster than traditional methods.
This not only addresses the demand for faster processes, as expressed by 70% of consumers but also enhances financial mobility and growth.
Accessibility
Blockchain's impact on cross-border payments and remittances stands out, contrasting sharply with traditional methods.
Blockchain transactions consistently achieve rapid processing times, completing within minutes or seconds, providing an accessible alternative to traditional systems marked by delays.
Setting up an account is the initial step towards accessibility, which the blockchain makes quite smooth.
In conclusion, The State of Crypto is looking at a future where financial transactions are not just cheaper and faster but also foster global accessibility. Read the supplementary report by The Block Research here.
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Hong Kong insurtech, MediConCen, raised $6.85 million in a Series A round led by HSBC Asset Management. With a focus on enhancing insurance claim processes through blockchain, the startup plans international expansion in the Middle East and Southeast Asia.
Ginger Joy, a Web3 mobile gaming startup, secures £1 million in funding to pioneer native mobile, interconnected Web3 games. Led by industry veterans, the team aims to redefine blockchain's role in gaming, creating a mass-market mobile gaming ecosystem with economic and experience interoperability.
Gainium, a platform for smart, accessible trading catering to everyone. Beyond trading bots, it provides education, risk management, and a vibrant community. Ideal for both beginners and pros, it offers a risk-free environment to test and deploy crypto trading strategies seamlessly.
In a recent setback, Solana's low-latency blockchain faced a five-hour outage, impacting its SOL token. The token dipped from $96 to below $94 but swiftly recovered post-outage. Despite the interruption, transactions resumed, signaling network resilience.
Dapper Labs' NFL All Day, featuring NFTs of iconic NFL moments, gained momentum with Super Bowl promotions. The collection's Tom Brady NFT sold for over $40,000, showcasing the brand's success. While not reaching NBA Top Shot heights, NFL All Day recorded nearly $10 million in cumulative sales since September, bolstered by promotions from legends Joe Montana and John Elway.
ERC404, an experimental Ethereum standard, fuses NFTs and fungible tokens, achieving $87 million in trades within a week. The Replicant NFT collection offers liquidity, letting users trade seamlessly on NFT marketplaces like Blur and OpenSea or decentralized exchanges like Uniswap.
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