
<div class="d-flex justify-content-center"><ins class="64c25105bd391bf86a4f85f8" style="display:inline-block;width:1px;height:1px;"></ins><script>!function(e,n,c,t,o,r,d){!function e(n,c,t,o,r,m,d,s,a){s=c.getElementsByTagName(t)[0],(a=c.createElement(t)).async=!0,a.src="https://"+r[m]+"/js/"+o+".js?v="+d,a.onerror=function(){a.remove(),(m+=1)>=r.length||e(n,c,t,o,r,m)},s.parentNode.insertBefore(a,s)}(window,document,"script","64c25105bd391bf86a4f85f8",["cdn.bmcdn6.com"], 0, new Date().getTime())}();</script></div>



<p>Have you heard the news? On-chain data shows <a href="https://www.coinbase.com">Coinbase</a> profited at least $1 Million or 460 ETH after attackers corrupted the <a href="https://curve.fi/#/ethereum/swap">Curve Protocol</a>. Thereby causing an imbalance in how the protocol determines the value of assets.&nbsp;</p>



<p>As a result, a trading bot saw this imbalance and executed an arbitrage by making a 570 ETH validator fee payment to Coinbase Exchange. For this reason, Coinbase prioritised all transactions by the bot in syphoning funds from the Curve Finance pool. Now several experts hold Coinbase accountable, and demand to know why the company has not returned the funds. According to <a href="https://alchemix.fi">Alchemix</a>, one of the pools that lost millions of funds, the exchange is holding stolen money.&nbsp;</p>



<p>Read more: <a href="https://hodl.fm/grayscale-wins-lawsuit-against-sec">Grayscale Wins the Court Battle Against SEC</a></p>


<div class="wp-block-image">
<figure class="aligncenter size-large"><img decoding="async" src="https://images.axios.com/AfxtlF8tMtEHu1ckjPti3SMwvhI=/0x0:1920x1080/1920x1080/2020/12/17/1608233348622.gif" alt=""/><figcaption class="wp-element-caption">Source: <a href="https://www.axios.com/2020/12/17/coinbase-files-public-listing-confidentially">Axios</a></figcaption></figure></div>


<h2 class="wp-block-heading">The Coinbase Hack and Its Aftermath: Financial Implications</h2>



<p>Security breaches are not uncommon in the cryptocurrency space. A report by DEFI security firm Beosin <a href="https://twitter.com/BeosinAlert/status/1674618821766971392">indicates</a> crypto has already lost $656 million to cryptocurrency hacks in the first half of 2023.&nbsp;</p>



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">H1 2023 Web3 Security Statistics <br><br>🚨Total losses from hacks, phishing scams, and rug pulls in Web3 reached $655.61 million in the first half of 2023. <br><br>Among them,<br>108 attacks  -&gt; $471.43M<br>Phishing scams -&gt;  $108M<br>110 rug pulls -&gt; $75.87M <a href="https://t.co/8Q9kmDETfQ">pic.twitter.com/8Q9kmDETfQ</a></p>&mdash; Beosin Alert (@BeosinAlert) <a href="https://twitter.com/BeosinAlert/status/1674618821766971392?ref_src=twsrc%5Etfw">June 30, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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<p>Meanwhile, the Curve exploit led to unintended earnings of approximately $1 million for Coinbase and has raised significant ethical questions about the role of digital assets platforms in protecting customer funds.&nbsp;</p>



<p>This article will provide a comprehensive overview of the Curve Finance hack, how the MEV Bot reaped profit from the hack,&nbsp; why Coinbase made a profit,&nbsp; the plight of the victims, Coinbase&#8217;s ethical responsibility, the broader ethical dilemma, potential solutions, and lessons for the crypto industry.</p>



<p>In July, an attacker targeted Curve Finance and stole $73 million, causing a temporary disruption in asset valuation. This malicious act resulted in substantial losses, leaving affected users in despair. While some stolen funds were recovered, not all victims received full compensation. What is most concerning is that Coinbase, a prominent cryptocurrency exchange, chose not to return the unexpected profit it earned from this incident to the victims. &nbsp;</p>


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<h2 class="wp-block-heading">Technically speaking&nbsp;</h2>



<p>The Curve Finance exploiter took advantage of a smart contract bug on particular liquidity pools on the protocol. One of the pools that fell victim to this attack belonged to the Alchemix crypto lending platform. Before the exploit on Curve, this pool contained 4,822 alETH and&nbsp; 7,259 ETH. According to a spokesman from Alchemix, the attacker drained most of the tokens in the pool and left behind 3,856 alETH and 1 ETH.&nbsp;</p>


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<p>At this point, it bears mentioning that traders on liquidity pools swap from one token to another using an exchange rate based on the ratio of the pool’s assets. After the hack, a massive imbalance between the pool’s ETH and aiETH created a lifetime arbitrage opportunity. Thereby opening up a loophole for experienced traders to purchase aiETH at a high discount. During the incident, an MEV trading bot picked up the signal and purchased the remaining alETH in the pool and sold them off for another derivative called frxETH. Later on, swapping the frxETH for ETH.</p>



<h2 class="wp-block-heading">Coinbase&#8217;s hack aftermath</h2>



<h3 class="wp-block-heading">Coinbase&#8217;s Windfall Profit</h3>



<p>Coinbase&#8217;s $1 million windfall profit stemmed from the trading bot that seized an opportunity to exploit Miner Extractable Value (MEV) during the chaos following the hack. To prioritize its transaction, the MEV trading bot paid an enormous fee of 570 ETH to an Ethereum blockchain validator. This fee, one of the largest ever paid for MEV, was received by Coinbase. This transaction effectively ensured the bot&#8217;s trade went through.</p>



<p>However, it is important to note that the trading bot netted a measly 43 ETH while the lion’s share went to the validator, Coinbase. This unusually high transaction fee ensured that the validator was going to prioritise all of the bot’s transactions, thereby front-running anyone who would have been ahead of it in the trade.&nbsp;</p>



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<h3 class="wp-block-heading">The Victims&#8217; Plight</h3>



<p>One of the Coinbase hack aftermath implications is the plight of victims who lost their funds. The victims of the Coinbase hack have faced both financial and emotional turmoil, with some of them claiming they lost their life savings through the incident. Despite bounty hunters and whitehat hackers recovering some of the funds through various channels, Coinbase refused to return the profit it earned. Some of the individuals who lost their life savings now feel abandoned by the exchange.&nbsp;</p>



<p>Requests for Coinbase to address software defects that enabled scammers to access their accounts went unanswered, compounding their distress. This has led most of them to question the Moral responsibility of the platform’s customer support towards user protection.&nbsp;</p>



<p>A bone of contention has taken centre stage as cryptocurrency users went on to question the ethical responsibility of the exchange towards its customers.&nbsp;</p>



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<p>Alchemix has come out several times claiming Coinbase is still holding stolen funds despite the majority of the hackers having returned what they stole in exchange for bounty. Unfortunately, the exchange claims there are no legal requirements for Customer compensation resulting from what it terms ‘was not a breach of Coinbase security’ Meanwhile, the situation has highlighted the state of things between crypto users, blockchain trustless ethos and the lack of any alternative for Coinbase victims to get their funds back.&nbsp;</p>



<p>Eric Rosen, a<a href="https://news.slashdot.org/story/22/10/17/0142216/96-file-legal-action-demanding-coinbase-reimburse-21m-lost-to-crypto-scammers"> crypto law expert </a>representing hundreds of victims who lost their funds in previous years through Coinbase said:</p>



<blockquote class="wp-block-quote">
<p>The platform is trying to become a financial institution without creating the right supporting infrastructure.</p>
</blockquote>



<h3 class="wp-block-heading">Industry Ethics: The Ethical Dilemma and Regulatory Compliance</h3>



<p>Coinbase exchange is at the centre of an epic industry ethics dilemma, how does it profit from a security hack that harmed its customers? The exchange may suffer a huge threat to its reputation and credibility if it decides to keep the money. Customers feeling that their exchange prioritizes making a profit by sacrificing customer protection could have long-lasting negative implications on the platform.&nbsp;</p>


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<h3 class="wp-block-heading">More Info: </h3>



<ul>
<li><a href="https://hodl.fm/cftcs-order-against-three-defi-protocols">CFTC’s Order against Three DeFi Protocols</a></li>



<li><a href="https://hodl.fm/lbry-sec-legal-battle-etf-appeal-crypto-regulation">LBRY’s Fight Against the SEC: A Closer Look at ETF Appeal Process</a></li>
</ul>



<p>Coinbase can address this challenge by reimbursing the $1 million to Alchemix. In addition, the exchange has to improve its security standards and ensure nothing like this happens in future. At least, the platform can create an emergency fund for compensating victims of hack-related incidents. If the exchange feels unjustified to reimburse the funds, the best thing to do is liaise with regulators on how to compensate customers in the event of such a breach.&nbsp;</p>



<h2 class="wp-block-heading">Lessons for the Crypto Industry</h2>



<p>Cryptocurrency stakeholders should come together in times like this to establish clear measures and industry standards on how to deal with hacks. These measures must highlight proactive measures for supporting and compensating any victims of a hack. In addition, industry participants like Coinbase should recognize the need for ethical responsibility in the cryptocurrency industry. This means prioritizing the needs of its customers and protecting itself from reputation damage resulting from such incidents.&nbsp;</p>



<h2 class="wp-block-heading">Conclusion</h2>



<p>The Curve Finance incident and the subsequent exploit on Alchemix derivative pools have revealed the sophisticated world of crypto. However, as the sector continues to evolve, experts are betting on robust security measures and regulatory oversight to protect crypto funds from attackers. Meanwhile, we are yet to see whether Coinbase will do what’s right by putting in place robust user protection measures and returning the $1 million.&nbsp;</p>


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<p><strong>Disclaimer</strong>:&nbsp;<em>All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that despite the nature of much of the material created and hosted on this website,&nbsp;</em><em><a target="_blank" href="http://hodl.fm/" rel="noreferrer noopener">HODL.FM</a></em><em>&nbsp;is not a financial reference resource and the opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice of this sort,&nbsp;</em><em><a target="_blank" href="http://hodl.fm/" rel="noreferrer noopener">HODL.FM</a></em><em>&nbsp;strongly recommends contacting a qualified industry professional.</em></p>


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Coinbase’s Moral Dilemma

Coinbase’s Moral Dilemma: Profiting from a Hack While Victims Await Reimbursement


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<p><a href="https://www.google.com/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=web&amp;cd=&amp;ved=2ahUKEwj5iY3QjbWBAxXamIkEHXJPDpwQFnoECBcQAQ&amp;url=https%3A%2F%2Fwww.jpmorgan.com%2F&amp;usg=AOvVaw1qO3hlomb-9j8lVN2ZU2DN&amp;opi=89978449">JP Morgan</a> is pending approval for its blockchain-powered deposit token from U.S regulators in what it deems, a new method of faster transactions and lower costs. If U.S regulators approve JP Morgan’s digital deposit tokens, the investment bank will launch a new deposit feature for its corporate clients in a year. </p>



<p>It bears mentioning that the digital deposit token differs from the JPM Coin, another cryptocurrency-based payments system JP Morgan announced in 2019. As per reports, the deposit token aims at facilitating the transfer of cash across clients in different banks. In addition, the reports claim that the digital deposit token will favour trade settlement in tokenized securities.</p>



<p>Read more: <a href="https://hodl.fm/digest-5">Ethereum price, JPMorgan’s AI crystal ball, Grimes AI-generated music collaboration, CFTC’s record penalty</a></p>



<p>A digital deposit token represents claims of deposit against a commercial bank. Industry experts have mentioned before that a deposit token has the potential to disrupt the traditional investment and financial system. For instance, the technology would facilitate instantaneous transactions via blockchain ledgers and speed settlements. This also has the ripple effect of reducing transaction costs.</p>



<p>According to sources, the bank is considering connecting its existing compliance infrastructure with the new token system so that it undergoes necessary regulatory checks and reporting. At the start, the new feature’s main denomination will be in US dollars. However, the bank aims to increase the number of available currencies and denominations as more regulators submit approvals.&nbsp;</p>


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<h2 class="wp-block-heading"><strong>JP Morgan&#8217;s Past Involvement with Blockchain Technology</strong></h2>



<p>Even before that time in 2021 when JP Morgan CEO James Dimon said “I personally think Bitcoin is worthless’, the JP Morgan bank had on many occasions still suggested that it would roll out a blockchain-based digital payments system.&nbsp;</p>



<p>JP Morgan first announced the JPM Coin in February 2019. In the year that followed, the investment bank created a new department unit for blockchain projects. In August 2020, the bank kicked off a wealth management relationship with clients who requested exposure to cryptocurrency assets.&nbsp;</p>



<p>This made JP Morgan the very first bank in the United States to roll out its digital token targeting a real-world utility. Ever since the bank has been leading at the front on Wall Street through efforts to leverage the power of blockchain in streamlining banking processes. For this and many other reasons, JP Morgan rolled out the system for instantaneous transfer of payments across institutional client accounts. To date, the blockchain-powered system has processed over $300 billion in transactions.&nbsp;</p>


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<p>According to a 2021 <a href="https://www.bloomberg.com/news/articles/2023-06-23/jpmorgan-jpm-switches-on-jpm-coin-payments-system-in-euros">blog post,</a> ‘the JPM Coin is not money per se but a digital coin that represents the USD across designated accounts at the J.P Morgan Chase N.A. Hence, the JPM Coin carries a value equivalent to the US Dollar. In particular, the coin would facilitate instantaneous transfer of monetary value via blockchain technology. On the other end, the recipient had the ability to immediately redeem their JPM Coin crypto for US Dollars.</p>



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<p>Read more: <a href="https://hodl.fm/digest-13">Wall Street’s Interest in Crypto, Happiness at Exchanges, UAE’s Emergence as a Bitcoin Mining Destination</a> </p>



<p>In 2019, JP Morgan Bank announced its commitment to tokenizing the entire traditional finance. The days that followed saw the bank launch Onyx, the world’s first bank-led digital asset program, which as of now has been adopted at BNP Paribas, Goldman Sachs and DBS Bank.&nbsp;</p>



<h2 class="wp-block-heading">Why a major bank like JPMorgan is exploring blockchain technology</h2>



<p>In evaluating the reasons why JP Morgan is exploring blockchain technology, a few would underestimate the power of blockchain technology in transforming digital payments. Blockchain is a decentralized ledger technology that enables secure transaction records, optimizes transparency, eliminates the reliance on trust and reduces cases of fraud.&nbsp;</p>


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<p>One of the main reasons why JPMorgan adopted blockchain technology was to optimize efficiency and speed up transactions. Traditional finance had an inconvenient model for processing global transactions in 3 &#8211; 5 business days. The bank saw blockchain technology as the best way to send money faster and save time for clients.&nbsp;</p>



<p>The adoption of blockchain technology and the launch of the JPM Coin saw the company achieve maximum efficiency, cut costs and automate transactions. Advanced cryptography, which is a necessity in blockchain technology ensures that customer funds and data remain safe and secure.</p>



<p>As you can see, adopting cryptocurrency technology and blockchain in its operations has enabled JPMorgan to lead the front across leading traditional finance corporations that are entering the crypto space. Besides, the bank does not want to remain behind in an evolving industry where competitors are exploring the latest technology to avoid falling behind in payment innovation.&nbsp;</p>


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<p>Something else to note is that the entry of traditional finance giants delving into crypto could help streamline regulations. For instance, JPMorgan has already stated that the digital deposit token will be based on know-your-customer (KYC) and compliance systems.&nbsp; The investment bank is keen on not causing friction between their new feature and regulatory officers.&nbsp;</p>



<p>However, the company still needs to get approval from U.S. compliance authorities for the new digital deposit token before it launches.&nbsp;</p>



<p>Read more: <a href="https://hodl.fm/shiba-inu-shibarium-network-restarts-amid-challenges">Shiba Inu’s Shibarium Network Resumes Operations Amid Challenges</a></p>



<h2 class="wp-block-heading">How JPMorgan’s move influences other banks and financial institutions</h2>



<p>JP Morgan Chase is among the world’s largest and most influential investment banks. For this reason, the bank has on many occasions set the industry tone for various innovation or compliance trends. Hence, a move like adopting blockchain and building a cryptocurrency must have a ripple effect across the entire industry.&nbsp;</p>



<p>For example, other banks in the world could follow suit and expand their traditional finance model into the blockchain sector. Deploying the JPM Coin already had the competitive pressure to attract rival banks into innovative financial products.&nbsp;</p>



<p>Another ripple effect would be the enhancement of regulations that favour cryptocurrencies and blockchain technology. This is possible because the bank’s effort will set the stage for compliance, clarity and oversight when dealing with digital currencies.&nbsp;</p>



<p>JPMorgan’s fiscal perfomance also positions the bank as a key influencer towards the banking sector. Hence, anything the bank bends its back towards has the ability to attract increased investment from other financial institutions.&nbsp;</p>


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<p><strong>Technology Adoption</strong>: JPMorgan has been at the forefront of adopting the latest technology, from machine learning, artificial intelligence, and nonfungible tokens to blockchain technology. Other institutions have already taken notice and gone on to accommodate innovative practices that are at par with industry trends.&nbsp;</p>



<h2 class="wp-block-heading">Challenges and risks JPMorgan might face in implementing blockchain solutions</h2>



<p>Regulatory, interoperability, Security and reputational risks are some of the challenges that could face JPMorgan’s journey to implementing blockchain solutions.&nbsp;</p>



<p>The regulatory environment for crypto is quick-evolving at a moment of increased industry scrutiny, complex jurisdictions and increasingly hostile oversight by authorities. Particularly, the use of cryptocurrencies by criminals and money launderers has often put crypto in bad records. For this reason, financial regulators have become wary of the technology and tightened their compliance requirements.&nbsp;</p>



<h2 class="wp-block-heading">Read More: </h2>



<ul>
<li><a href="https://hodl.fm/clockchain-carbon-transparency-solana">A Deeper Dive into Blockchain Carbon Transparency: Solana’s New Emissions Dashboard Takes Centre Stage</a></li>



<li><a href="https://hodl.fm/blockchain-gaming-countries-crypto">Blockchain Gaming: These Countries Are Ready to Rule the Crypto Playground!</a></li>
</ul>



<p>Interoperability issues are another limiting factor that JPMorgan might have to deal with when porting its blockchain technology software to other platforms, industries or partner banks. Again, the cryptocurrency industry is a risky business for companies or platforms handling customer funds due to increasing cases of hacks and funds theft. JPMorgan must have to invest in its security infrastructure so as to protect both customer funds and personal data. </p>



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<h2 class="wp-block-heading"><strong>Recent news about JP Morgan&nbsp;</strong></h2>



<ul>
<li><strong>JPM Coin</strong></li>
</ul>



<p>JPMorgan launched the JPM Coin in February 2019 as a way to process over $6 trillion of annual settlements between clients of its wholesale payments business. Mid this year in June 2023, JPMorgan announced the launch of their euro-denominated JPM Coin feature for corporate clients. According to the June 23 release, the bank would extend its JPM Coin platform to accommodate both U.S. dollars and euros.&nbsp;</p>



<ul>
<li><strong>JP Morgan has expanded its blockchain payment platform JPM Coin to support the euro with Siemens as the first client </strong></li>
</ul>



<p>Two days after launching the euro-denominated JPM Coin, the company announced that it had processed the first transaction on the blockchain, which was a payment transaction for the German multinational conglomerate, Siemens.&nbsp;</p>



<ul>
<li><strong>JPMorgan applies blockchain to interbank U.S. dollar transactions in India amid growing signs of global de-dollarization</strong></li>
</ul>



<p>On 5th June 2023, Bloomberg reported that JPMorgan Chase &amp; Co. had partnered with 6 Indian financial institutions to help facilitate international transfers amidst the dollar’s growing concerns of imminent de-dollarizations.</p>



<h3 class="wp-block-heading"><strong>FAQs</strong></h3>



<h4 class="wp-block-heading"><strong>How is J.P. Morgan using blockchain?</strong></h4>



<p>J.P. Morgan is leveraging blockchain technology in a bid to revolutionize the way money and assets move across the globe. For this reason, the traditional finance institution became the first bank to introduce a blockchain-based payment system based on the JPM Coin platform, Onyx and the upcoming digital deposit token.&nbsp;</p>



<h4 class="wp-block-heading">What is Onyx by J.P. Morgan?</h4>



<p>Onyx by JPMorgan is the <a href="https://www.jpmorgan.com/onyx/index">world’s first bank-led blockchain platform</a> that facilitates the transfer of value, digital assets, and data through a secure decentralized ledger. &nbsp;</p>



<h4 class="wp-block-heading">Why is JPMorgan using blockchain?</h4>



<p>The leading bank aims to leverage the power of a decentralized ledger to facilitate quicker, less costly and more transparent transactions.&nbsp;</p>



<p><strong>Disclaimer</strong>:&nbsp;<em>All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that despite the nature of much of the material created and hosted on this website,&nbsp;</em><em><a target="_blank" href="http://hodl.fm/" rel="noreferrer noopener">HODL.FM</a></em><em>&nbsp;is not a financial reference resource and the opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice of this sort,&nbsp;</em><em><a target="_blank" href="http://hodl.fm/" rel="noreferrer noopener">HODL.FM</a></em><em>&nbsp;strongly recommends contacting a qualified industry professional.</em></p>


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JPMorgan Explores Blockchain-Powered Deposit Tokens for Faster Transactions and Reduced Costs


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<p>The cryptocurrency world is rife with excitement and challenges, as showcased by the recent events surrounding Shiba Inu&#8217;s Layer-2 Shibarium network. After a temporary halt in block production, the <a href="https://www.shibariumscan.io/">project is back on track</a>, demonstrating its determination to navigate obstacles and secure its place in the crypto sphere. Let&#8217;s delve in, hodlers!</p>


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" loading="lazy" src="https://www.analyticsinsight.net/wp-content/uploads/2022/09/Dogecoin-and-Shiba-Inu-in-2025-Will-Other-Coins-Replace-the-Meme-kings.jpg" alt="" style="width:540px;height:300px" width="540" height="300"/><figcaption class="wp-element-caption">Source: <a href="https://www.analyticsinsight.net/meme-tokens-to-invest-in-before-the-years-comes-to-an-end-shiba-inu-tamadoge-big-eyes/">Analytics Insights</a></figcaption></figure></div>


<h2 class="wp-block-heading"><strong>Resuming Operations Amidst Turmoil</strong></h2>



<p>After a brief pause that left the crypto community speculating, Shiba Inu&#8217;s Layer-2 Shibarium network has triumphantly recommenced block production. This development comes in the wake of a nearly day-long suspension of transactions, presenting a notable test for the project&#8217;s resilience.</p>



<p>Read more: <a href="https://hodl.fm/shiba-inu-teams-up-with-shibarium/">Shiba Inu Teams Up with Shibarium: New Possibilities for the Popular Meme Token</a></p>



<h2 class="wp-block-heading"><strong>Navigating Through Fail-Safe Mode</strong></h2>



<p>According to the Shibariumscan.io block explorer, the layer-2 blockchain Shibarium (SHIB) is now generating blocks once again. The network had previously entered a fail-safe mode, a protective measure triggered by unexpectedly high traffic following the mainnet launch. Shytoshi Kusama, the lead developer, confirmed that the surge in blockchain activity brought challenges but emphasized that the <a href="https://blog.shib.io/shibarium-insane-influx/">security of funds remained intact</a>. Both the bridge and the chain are operational, positioning Shibarium for a swift and confident restart.</p>


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" loading="lazy" src="https://media.tenor.com/CbhnRg0n7ksAAAAM/kermit-the-frog-looking-for-directions.gif" alt="" style="width:422px;height:270px" width="422" height="270"/></figure></div>


<h2 class="wp-block-heading"><strong>Scaling Up and Embracing Challenges</strong></h2>



<p>In an official blog post dated August 18, Kaal Dhairya, a developer for Shiba Inu, <a href="https://blog.shib.io/shibarium-update/">outlined the team&#8217;s strategic plans</a> to scale operations to accommodate the surging traffic on Shibarium. The network, which is a fork of Polygon, will also provide regular updates on its status. Dhairya mentioned, “In fact, as we slowly and carefully investigated where the problem exactly took place and found thousands upon thousands of contract creation and normal transactions IN ONE BLOCK.”</p>



<h2 class="wp-block-heading"><strong>Fortifying with Insurance: Confidence Amid Uncertainty</strong></h2>



<p>To address potential fund retrieval challenges arising from the Shibarium restart, the Shiba Inu project made a significant move by obtaining insurance coverage worth $2 million. This decision adds an extra layer of security and confidence to the network&#8217;s journey forward. As a result, block production swiftly resumed, underscoring the team&#8217;s commitment to safeguarding the project&#8217;s integrity.</p>



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<h2 class="wp-block-heading"><strong>Community Resilience and a Positive Outlook</strong></h2>



<p>In the face of adversity, the ShibArmy community has shown remarkable resilience. Despite concerns over the spread of Fear, Uncertainty, and Doubt (FUD), the community remains positive and steadfast in supporting the network&#8217;s efforts. This united front highlights the shared belief in the potential of Shibarium, transcending any short-term challenges.</p>



<h2 class="wp-block-heading"><strong>Markets React and Rebound</strong></h2>



<p>The recent events surrounding Shibarium impacted the market, prompting large holders and traders to divest significant portions of their SHIB, BONE, and LEASH tokens due to FUD. However, the revival of Shibarium has resulted in price rebounds, even during a broader crypto market sell-off. Over the past day, SHIB&#8217;s value experienced an 11% drop, settling at $0.0000082. BONE and LEASH also faced declines of 15% and 5% respectively.</p>


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" loading="lazy" src="https://www.analyticsinsight.net/wp-content/uploads/2023/06/73-1024x576.png" alt="" style="width:524px;height:295px" width="524" height="295"/></figure></div>


<h3 class="wp-block-heading">More Info: </h3>



<ul>
<li><a href="https://hodl.fm/best-meme-coins-2023/">Meet the Best Meme Coins That Could Explode in 2023!</a></li>



<li><a href="https://devnext.hodl.fm/what-is-pepe-coin-why-ethereum-jumps-to-2k">What is Pepe Coin (PEPE) and why Ethereum Jumps to $2K</a></li>



<li><a href="https://hodl.fm/meme-coin-tides-shift-coinbase-ethereum-layer-2/">Meme Coin Tides Shift, Yielding Three-Digit Gains to Degens on Coinbase Ethereum Layer 2</a></li>
</ul>



<p>The journey of Shiba Inu&#8217;s Shibarium network reflects the intricate dance between challenges and progress within the cryptocurrency realm. As block production resumes and the community stands strong, the future of Shibarium looks promising, reminding us that innovation and determination can overcome even the most formidable obstacles.</p>



<p><strong>Disclaimer</strong>:&nbsp;<em>All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that despite the nature of much of the material created and hosted on this website,&nbsp;</em><em><a target="_blank" href="http://hodl.fm/" rel="noreferrer noopener">HODL.FM</a></em><em>&nbsp;is not a financial reference resource and the opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice of this sort,&nbsp;</em><em><a target="_blank" href="http://hodl.fm/" rel="noreferrer noopener">HODL.FM</a></em><em>&nbsp;strongly recommends contacting a qualified industry professional.</em></p>


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Unraveling Memecoins A Guide to Choosing the Right One – Copy-2

Shiba Inu’s Shibarium Network Resumes Operations Amid Challenges


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<p>The world of crypto gaming has introduced novel ways for players to earn digital tokens and assets, but with these opportunities come hidden dangers, hodlers! <a href="https://acg.pnp.gov.ph">The Philippine National Police Anti-Cybercrime Group</a> (PNP ACG) has cast a watchful eye on various cryptocurrency gaming schemes, <a href="https://acg.pnp.gov.ph/main/cyber-security-bulletin/551-acg-cyber-security-bulletin-nr-292-understanding-the-risk-of-cryptocurrency-gaming-scheme.html">cautioning</a> Filipino citizens about the potential pitfalls and schemes that threaten their investments. Among these, the play-to-earn model utilized by Axie Infinity, a popular game on the Ethereum blockchain, has raised concerns. </p>



<p>Read more: <a href="https://hodl.fm/mavis-hub-greenlight-axie-infinity-gaming/">Ctrl+Alt+Play: Axie Infinity’s Evolution Through Mavis Hub’s Greenlight Initiative</a></p>


<div class="wp-block-image">
<figure class="aligncenter size-large"><img decoding="async" src="https://media1.giphy.com/media/v1.Y2lkPTc5MGI3NjExYTkzNWM5Mmg0N21nMWZ3bHhzZmo2M2hxNTY5d3Z1c3I0b3I3OXo2MiZlcD12MV9naWZzX3NlYXJjaCZjdD1n/81xwEHX23zhvy/giphy.gif" alt=""/></figure></div>


<h2 class="wp-block-heading"><strong>Play-to-Earn Alarms the Philippine National Police</strong></h2>



<p>In an effort to safeguard its citizens from financial exploitation, the Philippine National Police Anti-Cybercrime Group (PNP ACG) has turned its attention to the world of cryptocurrency gaming. The rise of play-to-earn models, which offer players the chance to accumulate digital assets while playing, has attracted scrutiny due to associated risks. One such game, Axie Infinity, has become a focal point in this discussion.</p>



<p>Read more: <a href="https://hodl.fm/ethereum-price-prediction-2023-2024/">Ethereum (ETH) Price Prediction 2023 – 2024: Smart Contracts, Liquidity Staking Tokens and Post-ETFs Era</a></p>



<h2 class="wp-block-heading"><strong>Axie Infinity&#8217;s Play-to-Earn Model</strong></h2>



<p>Axie Infinity, a metaverse game built on the Ethereum blockchain, has gained significant popularity. To participate, players must acquire Axie characters, a requirement that comes with a financial commitment. The PNP ACG expresses concern that this model necessitates an initial investment of around $300 before players can start earning. In contrast, the traditional gaming industry typically involves an average expenditure of up to $100 per user. This pricing structure has raised eyebrows and prompted discussions about the financial accessibility of play-to-earn games.</p>


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" loading="lazy" src="https://s3.cointelegraph.com/uploads/2023-08/1c842fd0-3806-4dad-8676-f84e0edf410a.png" alt="" style="width:616px;height:356px" width="616" height="356"/><figcaption class="wp-element-caption">Source: <a href="https://cointelegraph.com/news/axie-infinity-play-to-earn-phillippine-police">Cointelegraph</a></figcaption></figure></div>


<p></p>



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<h2 class="wp-block-heading"><strong>Navigating Risks in Crypto Gaming</strong></h2>



<p>The allure of crypto gaming is coupled with inherent risks that distinguish it from conventional gaming or investing in cryptocurrencies. The ease of losing digital tokens and nonfungible tokens (NFTs) is a pressing concern highlighted by the Filipino ACG. Factors such as sending tokens to unsupported wallet addresses, market volatility, and the prevalence of online scammers contribute to a landscape where investments are far from secure. The PNP ACG&#8217;s cautionary message emphasizes that blockchain security does not necessarily extend to the entirety of gaming platforms.</p>


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" loading="lazy" src="https://axieinfinity.com/images/social/axie-infinity.jpg" alt="" style="width:568px;height:320px" width="568" height="320"/><figcaption class="wp-element-caption">Source: <a href="https://axieinfinity.com/">Axie Infinity</a></figcaption></figure></div>


<h2 class="wp-block-heading"><strong>Adopting Best Practices</strong></h2>



<p>Echoing advice that holds true for the wider crypto community, the PNP ACG recommends diligent research and vigilance when venturing into the world of crypto gaming. Conducting thorough investigations into ecosystems, founders, and underlying technologies — encapsulated in the adage &#8220;do your own research&#8221; (DYOR) — is essential. Caution should be exercised when interacting with unfamiliar individuals and avoiding potentially malicious phishing links. These best practices mirror the principles observed by prudent crypto investors.</p>



<h2 class="wp-block-heading"><strong>A Glimpse into Future Collaborations</strong></h2>



<p>As the concerns over crypto gaming risks grow, the Department of Information and Communications Technology (DICT) of the Philippines has taken a step towards enhancing blockchain adoption. Collaborating with the Blockchain Council of the Philippines (BCP), the DICT aims to expedite the integration of Web3 technologies within the region. This partnership reflects the ongoing efforts to balance innovation with security in the realm of emerging technologies.</p>



<h3 class="wp-block-heading">Read More: </h3>



<ul>
<li><a href="https://hodl.fm/xsolla-crypto-com-partnership-gaming/">Xsolla and Crypto.com Unite for Gaming’s Seamless Crypto Payments</a></li>



<li><a href="https://hodl.fm/best-p2e-games-2023/">The Best P2E Games in 2023: How to Earn Money in Crypto Gaming</a></li>
</ul>



<p>Axie Infinity&#8217;s play-to-earn model serves as a microcosm of the broader challenges inherent in the world of cryptocurrency gaming. The PNP ACG&#8217;s scrutiny underscores the need for a balanced approach that embraces innovative opportunities while safeguarding against potential exploitation. As players continue to navigate the intricate landscapes of digital tokens and blockchain-based games, a comprehensive understanding of risks and best practices will be crucial in realizing the true potential of this evolving ecosystem.</p>



<p><strong>Disclaimer</strong>:&nbsp;<em>All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that despite the nature of much of the material created and hosted on this website,&nbsp;</em><em><a target="_blank" href="http://hodl.fm/" rel="noreferrer noopener">HODL.FM</a></em><em>&nbsp;is not a financial reference resource and the opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice of this sort,&nbsp;</em><em><a target="_blank" href="http://hodl.fm/" rel="noreferrer noopener">HODL.FM</a></em><em>&nbsp;strongly recommends contacting a qualified industry professional.</em></p>


Axie Infinity’s Play-to-Earn Model Draws Concern from Philippine National Police-2

Axie Infinity’s Play-to-Earn Model Draws Concern from Philippine National Police


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<p>Recently, <a href="https://www.sei.io">Sei Network</a> has emerged as a dynamic player. With a recent beta launch and listings on major exchanges, the native Sei (SEI) token has taken the market by storm, achieving a staggering valuation of $1.8 billion within its initial day of trading.</p>


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<figure class="aligncenter size-large"><img decoding="async" src="https://media3.giphy.com/media/WT8pzD8MgX2cPgzejY/giphy.gif?cid=ecf05e47l8f32v81b7nal0djy4k31rhq4jv56m8w4svpuczh&amp;ep=v1_gifs_search&amp;rid=giphy.gif&amp;ct=g" alt=""/></figure></div>


<h2 class="wp-block-heading"><strong>Sei Token&#8217;s Meteoric Rise on Exchange Debut</strong></h2>



<p>On August 15, a significant milestone was achieved as major cryptocurrency exchanges &#8211; including Binance, Bybit, and Bitget &#8211; collectively listed Sei Network&#8217;s native token, SEI. The token&#8217;s trading journey kicked off at $0.064 per unit but quickly surged to an astonishing high of $0.48, leaving traders and enthusiasts astounded. As of the time of writing, SEI <a href="https://www.binance.com/en/trade/SEI_USDT?ref=40896146&amp;theme=dark&amp;type=spot">was maintaining</a> a strong presence at $0.18. Impressively, the total supply of SEI is set at 10 billion, with an initial supply of 1.8 billion tokens.</p>



<h2 class="wp-block-heading"><strong>Beta Launch and Network Performance</strong></h2>



<p>Simultaneously, Sei Network <a href="https://www.prnewswire.com/news-releases/sei-launches-mainnet-301900263.html">launched the beta phase</a> of its mainnet on the same day. The network&#8217;s developers proudly reported that during the alpha phase, an impressive 400 million transactions were processed, and 7.5 million test wallets were created. One of the most compelling features Sei brings to the table is its ability to finalize transactions within an astonishingly rapid 0.5 seconds, capable of processing up to 20,000 transactions simultaneously. This efficiency has the potential to revolutionize the blockchain landscape and enhance user experiences across various applications.</p>



<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">Just got my hands on that <a href="https://twitter.com/hashtag/SeiAirdrop?src=hash&amp;ref_src=twsrc%5Etfw">#SeiAirdrop</a> successfully!💪💰 <br><br>How many <a href="https://twitter.com/search?q=%24SEI&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SEI</a> tokens did you bag?<br><br>If you haven&#39;t claimed, here&#39;s a 𝐓𝐈𝐏: Use the bridge on Step 3 for $500 to get higher treasure box!🎉🤑<br><br>Note: Compass wallet &amp; Metamask needed!<a href="https://twitter.com/hashtag/Seilors?src=hash&amp;ref_src=twsrc%5Etfw">#Seilors</a> <a href="https://twitter.com/hashtag/SeiNetwork?src=hash&amp;ref_src=twsrc%5Etfw">#SeiNetwork</a> <a href="https://twitter.com/hashtag/LFG?src=hash&amp;ref_src=twsrc%5Etfw">#LFG</a> <a href="https://twitter.com/hashtag/seitreasure?src=hash&amp;ref_src=twsrc%5Etfw">#seitreasure</a> <a href="https://t.co/9nmQcpYXtT">pic.twitter.com/9nmQcpYXtT</a></p>&mdash; Crypto Winkle (@CryptoWinkle) <a href="https://twitter.com/CryptoWinkle/status/1692101312190533660?ref_src=twsrc%5Etfw">August 17, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading"><strong>Empowering Decentralized Exchanges with Innovative Tools</strong></h2>



<p>Sei Network is built upon the robust foundation of the <a href="https://v1.cosmos.network/sdk">Cosmos software development kit</a>. Its primary objective is to revolutionize the trading capabilities of decentralized exchanges (DEXs) through the implementation of a powerful matching engine and cutting-edge order front-run prevention tools. This strategic approach positions Sei as a catalyst for positive change within the DEX realm, potentially addressing some of the long-standing scalability issues.</p>



<h2 class="wp-block-heading"><strong>Diverse Applications and Strong Backing</strong></h2>



<blockquote class="wp-block-quote">
<p>Current Web 3 infrastructure is unscalable, congested, and still too slow.</p>
<cite>eff Feng, co-founder of Sei Labs</cite></blockquote>



<p>He mentioned that 30 Sei applications are slated for launch by the end of the year. Among the notable upcoming projects is a perpetual futures exchange on the Sei protocol by DEX SushiSwap. This signifies the network&#8217;s potential to not only transform DEXs but also to reshape various sectors within the blockchain ecosystem.</p>



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<p>Developers working within the Sei ecosystem benefit from a substantial $120 million ecosystem development fund. This financial support is partly attributed to the generous contribution of $20 million from exchange MEXC Global in January. Additional funding came from Bitget and venture capital firm Foresight Ventures, raising an impressive $50 million for the ecosystem fund in April. Notably, Sei had closed a $30 million funding round just days before at a valuation of $800 million, further solidifying its standing within the industry.</p>



<h3 class="wp-block-heading">Read More: </h3>



<ul>
<li><a href="https://hodl.fm/coins-and-tokens-whats-the-difference/">Coins and Tokens: What’s the Difference?</a></li>



<li><a href="https://hodl.fm/shiba-inu-teams-up-with-shibarium/">Shiba Inu Teams Up with Shibarium: New Possibilities for the Popular Meme Token</a></li>
</ul>



<p>Sei Network&#8217;s journey from beta launch to exchange listing has been nothing short of remarkable. With its pioneering technology, swift transaction processing, and extensive ecosystem development fund, Sei is poised to transform the blockchain landscape. As the network continues to unfold its array of applications and enhancements, its impact on the decentralized exchange sector and the broader blockchain industry is likely to be profound. </p>


<div class="wp-block-image">
<figure class="aligncenter size-large"><img decoding="async" src="https://media0.giphy.com/media/iRHRWMfKHg3Gqmt6hT/giphy.gif?cid=ecf05e47fjao1plmwhm28wex9g10y9qmcifelj5sg8sufvlw&amp;ep=v1_gifs_related&amp;rid=giphy.gif&amp;ct=g" alt=""/></figure></div>


<p><strong>Disclaimer</strong>:&nbsp;<em>All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that despite the nature of much of the material created and hosted on this website,&nbsp;</em><em><a target="_blank" href="http://hodl.fm/" rel="noreferrer noopener">HODL.FM</a></em><em>&nbsp;is not a financial reference resource and the opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice of this sort,&nbsp;</em><em><a target="_blank" href="http://hodl.fm/" rel="noreferrer noopener">HODL.FM</a></em><em>&nbsp;strongly recommends contacting a qualified industry professional.</em></p>


Sei Token Skyrockets to 1.8B Valuation Following Beta Launch and Exchange Listings

Sei Token Skyrockets to $1.8B Valuation Following Beta Launch and Exchange Listings


<p>Blockchain gaming has made people realize you can find happiness away from the bottom of the bottle, a sugar-coated pill, amidst a cloud of smoke, or from the tip of the needle. </p>



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<p>From nominal graphics in terms of ideas and concepts to the current high-definition gaming and into the metaverse, the crypto gaming industry has gained more than success and gained tremendous popularity in various regions of the world. This article explores a list of the top countries in blockchain gaming.    </p>


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" loading="lazy" src="https://hodl.fm/wp-files/2023/08/image-14-1024x480.jpg" alt="" class="wp-image-3068" style="width:512px;height:240px" width="512" height="240" srcset="https://hodl.fm/wp-files/2023/08/image-14-1024x480.jpg 1024w, https://hodl.fm/wp-files/2023/08/image-14-300x141.jpg 300w, https://hodl.fm/wp-files/2023/08/image-14-768x360.jpg 768w, https://hodl.fm/wp-files/2023/08/image-14-816x383.jpg 816w, https://hodl.fm/wp-files/2023/08/image-14.jpg 1280w" sizes="(max-width: 512px) 100vw, 512px" /></figure></div>


<h2 class="wp-block-heading"><strong>Introduction</strong></h2>



<p>Despite the crypto industry taking a hit in 2022 caused by the Russia-Ukraine crisis, macroeconomic headwinds, and the bankruptcy of various crypto firms, the global blockchain gaming market has experienced a tremendous rise in popularity. A recent <a href="https://dappradar.com/industry-overview">Dapp Radar report</a> on blockchain gaming trends indicated at least 20 million daily gaming-related transactions across all popular blockchains. The crypto playground is littered with games that enable players to earn while they play, while others allow players to create and earn NFTs they can sell for cryptocurrency.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>



<blockquote class="wp-block-quote">
<p>It’s gold for nerds.</p>
<cite>Stephen Colbert, Comedian</cite></blockquote>



<p>Just like there would be no wars if women ruled the world: just a lot of jealousies and countries practicing “nil by mouth,” it’s an open secret that not everyone involved in blockchain gaming will get rich. However, crypto gaming development still has an attractive earning potential for earning royalties on secondary sales. Some players generate income from the real-world scarcity of their in-game assets. Due to an increasing user base caused by blockchain gaming adoption, the following is a list of countries getting ready to rule the crypto playground.   </p>



<div class="d-flex justify-content-center"><ins class="64c25105bd391bf86a4f85f8" style="display:inline-block;width:1px;height:1px;"></ins><script>!function(e,n,c,t,o,r,d){!function e(n,c,t,o,r,m,d,s,a){s=c.getElementsByTagName(t)[0],(a=c.createElement(t)).async=!0,a.src="https://"+r[m]+"/js/"+o+".js?v="+d,a.onerror=function(){a.remove(),(m+=1)>=r.length||e(n,c,t,o,r,m)},s.parentNode.insertBefore(a,s)}(window,document,"script","64c25105bd391bf86a4f85f8",["cdn.bmcdn6.com"], 0, new Date().getTime())}();</script></div>



<h2 class="wp-block-heading">China</h2>



<p>China may have declared restrictions on cryptocurrency mining and crypto in general, but that hasn’t deflected the people from experimenting and placing the country amid the crypto playground leaders. </p>



<p>Read more: <a href="https://hodl.fm/hong-kongs-crypto-push/">Hong Kong’s Crypto Push: Attracting Mainland China’s Finest</a> </p>



<p>At the heart of it, China remains a solid defender of blockchain technology, with the government adopting blockchain in their schooling and legal areas besides supporting smart contract programs like Qtum, VeChain, NEO, and TRON. The Chinese authorities are receptive to the potential of blockchain technology and are mainly against actions that cross the government’s rules and guidelines, giving blockchain gaming a chance to thrive.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>



<h2 class="wp-block-heading">Japan</h2>



<p>Japan is among the earliest adopters of blockchain technology and has remained crypto-centric ever since. The Japanese were quick to uptake crypto mining and Bitcoin use from the earliest days; moreover, Bitcoin inventor Satoshi Nakamoto’s name resembles a Japanese name. Japan not only joins the list of countries embracing crypto games, but surveys indicate it’s among the leading Asian countries with many citizens utilizing cryptocurrencies. With over 3.5 million people exchanging and accepting crypto as per the Japanese Financial Services Agency (FSA), the government and blockchain enthusiasts are behind blockchain games adoption.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>



<h3 class="wp-block-heading">Read More: </h3>



<ul>
<li><a href="https://hodl.fm/ana-airline-nft-marketplace/">Japan’s Largest Airline Group – ANA Launches Its NFT Marketplace</a></li>



<li><a href="https://hodl.fm/japan-eases-cryptocurrency-tax/">Japan Lightens the Crypto Tax Load, Proving It’s Cooler Than the US</a></li>
</ul>


<div class="wp-block-image">
<figure class="aligncenter size-large"><img decoding="async" src="https://cdn.techinasia.com/wp-content/uploads/2021/06/1623403632_blockchain-gaming.gif" alt=""/><figcaption class="wp-element-caption">Source: <a href="https://www.techinasia.com/blockchain-gaming">Tech in Asia</a></figcaption></figure></div>


<h2 class="wp-block-heading">Switzerland</h2>



<p>Switzerland provides an open administrative environment towards blockchain, leading to the establishment of a blockchain nerve center in the minuscule town of Zug, which hosts over 450 blockchain-based enterprises. Swiss residents have been said to have substantial knowledge of blockchain, and the country’s parliament recommends Bitcoin as the future money. As Switzerland introduces blockchain technology into areas like insurance, financial service, healthcare, logistics, and medical care, you can be sure that blockchain gaming trends will also catch up fast.&nbsp;</p>



<div class="d-flex justify-content-center"><ins class="64c250b9b41a4b5be53156b1" style="display:inline-block;width:1px;height:1px;"></ins><script>!function(e,n,c,t,o,r,d){!function e(n,c,t,o,r,m,d,s,a){s=c.getElementsByTagName(t)[0],(a=c.createElement(t)).async=!0,a.src="https://"+r[m]+"/js/"+o+".js?v="+d,a.onerror=function(){a.remove(),(m+=1)>=r.length||e(n,c,t,o,r,m)},s.parentNode.insertBefore(a,s)}(window,document,"script","64c250b9b41a4b5be53156b1",["cdn.bmcdn6.com"], 0, new Date().getTime())}();</script></div>



<h2 class="wp-block-heading"><strong>South American Countries</strong></h2>



<p>Blockchain gaming adoption is most prevalent in many South American countries, especially Argentina and Venezuela, where NFT gaming has become deeply entrenched. Surprisingly, many youths in these countries undergoing severe economic crises have found a reprieve in this crypto background and have made money playing. For crypto game enthusiasts in these countries, play-to-earn games have become a form of employment and, for some, the primary source of their livelihood.&nbsp;&nbsp;&nbsp;</p>



<h2 class="wp-block-heading">Singapore</h2>



<p>Singapore’s aspiring smart nation is among the leading countries that fully support establishing blockchain-based businesses, and it competes neck-to-neck with China and Japan regarding blockchain advancements and applications. The government has put in place guidelines supporting blockchain development that it has changed from the previous fishing town used to be into a technological research hub. The country fully supports blockchain incubation and invests more in blockchain use cases.&nbsp;&nbsp;&nbsp;&nbsp;</p>



<p>Read more: <a href="https://hodl.fm/gemini-to-launch-derivatives-platform-outside-the-us/">Gemini to launch derivatives platform outside the US</a></p>



<h2 class="wp-block-heading">To Sum Things Up</h2>



<p>Blockchain gaming may not be a substitute for real-world pleasures like spiritual enlightenment, marriage or childbirth, etc., but it provides an excellent reprieve from real-world woes. While it’s still incubating, it has made significant strides in these and other countries. As many countries labor to embrace blockchain technology and pass laws regarding the legalization of crypto payments and others remain adamant amid widespread adoption, we expect blockchain gaming adoption to rise.&nbsp;</p>


<div class="wp-block-image">
<figure class="aligncenter size-large"><img decoding="async" src="https://www.exodus.com/img/news/content/2021/05/306.png" alt=""/><figcaption class="wp-element-caption">Source: <a href="https://www.exodus.com/news/the-future-of-gaming-on-the-blockchain/">Exodus</a> </figcaption></figure></div>


<p><strong>Disclaimer</strong>:&nbsp;<em>All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that despite the nature of much of the material created and hosted on this website,&nbsp;</em><em><a target="_blank" href="http://hodl.fm/" rel="noreferrer noopener">HODL.FM</a></em><em>&nbsp;is not a financial reference resource and the opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice of this sort,&nbsp;</em><em><a target="_blank" href="http://hodl.fm/" rel="noreferrer noopener">HODL.FM</a></em><em>&nbsp;strongly recommends contacting a qualified industry professional.</em></p>


Blockchain Gaming

Blockchain Gaming: These Countries Are Ready to Rule the Crypto Playground!


<div class="d-flex justify-content-center"><ins class="64c25105bd391bf86a4f85f8" style="display:inline-block;width:1px;height:1px;"></ins><script>!function(e,n,c,t,o,r,d){!function e(n,c,t,o,r,m,d,s,a){s=c.getElementsByTagName(t)[0],(a=c.createElement(t)).async=!0,a.src="https://"+r[m]+"/js/"+o+".js?v="+d,a.onerror=function(){a.remove(),(m+=1)>=r.length||e(n,c,t,o,r,m)},s.parentNode.insertBefore(a,s)}(window,document,"script","64c25105bd391bf86a4f85f8",["cdn.bmcdn6.com"], 0, new Date().getTime())}();</script></div>



<p>Cue the drumroll, digital mavens! Today, we&#8217;re diverting from the well-trodden path of blockchain news and ICO updates to immerse ourselves in an unexplored frontier. And who&#8217;s our trusty guide? None other than Solana, the acclaimed blockchain network, now flaunting a snazzy new emissions dashboard. Intrigued? You should be. We&#8217;re not just on a mission to dissect this swanky new development, we&#8217;re embarking on a quest to redefine Blockchain Carbon Transparency. Buckle up, it&#8217;s going to be an exhilarating ride.</p>



<h2 class="wp-block-heading">Peeling Back the Layers: What&#8217;s Solana&#8217;s Emissions Dashboard?</h2>



<p>In the sprawling, intricate expanse of the blockchain world, Solana is making waves with a groundbreaking innovation. Their latest marvel? An emissions dashboard meticulously engineered to monitor and track the carbon emissions produced by Solana&#8217;s blockchain operations. Now, if that sentence set off a siren of techno-babble alert in your brain, hit the brakes. This isn&#8217;t just another complicated bit of tech jargon to decipher; it&#8217;s a real, tangible stride towards a greener, cleaner crypto landscape.</p>



<div class="d-flex justify-content-center"><ins class="64c25105bd391bf86a4f85f8" style="display:inline-block;width:1px;height:1px;"></ins><script>!function(e,n,c,t,o,r,d){!function e(n,c,t,o,r,m,d,s,a){s=c.getElementsByTagName(t)[0],(a=c.createElement(t)).async=!0,a.src="https://"+r[m]+"/js/"+o+".js?v="+d,a.onerror=function(){a.remove(),(m+=1)>=r.length||e(n,c,t,o,r,m)},s.parentNode.insertBefore(a,s)}(window,document,"script","64c25105bd391bf86a4f85f8",["cdn.bmcdn6.com"], 0, new Date().getTime())}();</script></div>



<h2 class="wp-block-heading">Unlocking the Dashboard: Navigating to Solana&#8217;s Carbon Transparency</h2>



<p>If you&#8217;re itching to get your hands on this futuristic dashboard, don&#8217;t break a sweat. Solana hasn&#8217;t tucked it away in some digital fortress guarded by cryptic codes and complex algorithms. Instead, it&#8217;s proudly displayed on Solana&#8217;s official website. With a few clicks and keystrokes, you gain access to a revolutionary tool for carbon footprint transparency.</p>



<h2 class="wp-block-heading">Unpacking the Potential: What Makes This Dashboard a Big Deal?</h2>



<p>By now, the skeptics among you might be grumbling, &#8220;It&#8217;s just a dashboard, why all the fuss?&#8221; Well, I&#8217;m here to reveal why this isn&#8217;t just a dashboard; it&#8217;s a pivotal tool in the crusade for Blockchain Carbon Transparency. It&#8217;s an instrument of awareness, change, and responsibility.</p>



<p>This dashboard allows you to witness the environmental repercussions of your transactions in real-time. It&#8217;s akin to having an environmental advisor on your shoulder, offering insightful updates about your carbon footprint with each blockchain transaction. As a user, you become part of a broader movement advocating for Blockchain Carbon Transparency. You possess the power to make more enlightened decisions, contributing to a greener crypto environment.</p>


<div class="wp-block-image">
<figure class="aligncenter size-full is-resized"><img decoding="async" loading="lazy" src="https://hodl.fm/wp-files/2023/08/zdpo4poxysp61.jpeg" alt="" class="wp-image-2822" style="width:436px;height:536px" width="436" height="536" srcset="https://hodl.fm/wp-files/2023/08/zdpo4poxysp61.jpeg 500w, https://hodl.fm/wp-files/2023/08/zdpo4poxysp61-244x300.jpeg 244w" sizes="(max-width: 436px) 100vw, 436px" /></figure></div>


<h2 class="wp-block-heading">Beyond Numbers: Solana&#8217;s Emissions Dashboard as a Tool for Change</h2>



<p>The emissions dashboard isn&#8217;t merely a high-tech spectacle boasting a sleek design and impressive metrics. It&#8217;s a powerful tool engineered to grant users the ability to monitor and track carbon emissions reliably. The implications of this development are massive, heralding a new era of accountability and transparency in the blockchain world. The illusion of the invisible carbon footprint is shattered, replaced with a stark, accurate portrait of our digital actions&#8217; environmental impact.</p>



<div class="d-flex justify-content-center"><ins class="64c250b9b41a4b5be53156b1" style="display:inline-block;width:1px;height:1px;"></ins><script>!function(e,n,c,t,o,r,d){!function e(n,c,t,o,r,m,d,s,a){s=c.getElementsByTagName(t)[0],(a=c.createElement(t)).async=!0,a.src="https://"+r[m]+"/js/"+o+".js?v="+d,a.onerror=function(){a.remove(),(m+=1)>=r.length||e(n,c,t,o,r,m)},s.parentNode.insertBefore(a,s)}(window,document,"script","64c250b9b41a4b5be53156b1",["cdn.bmcdn6.com"], 0, new Date().getTime())}();</script></div>



<h2 class="wp-block-heading">Solana’s Bold Pledge: Setting the Stage for a Greener Blockchain Future</h2>



<p>There is a profound assertion embodied in Solana&#8217;s groundbreaking dashboard—it&#8217;s more than just an exhibition of their advanced technological capacity. Rather, it represents an unequivocal dedication, an affirmation of intent to shape an environmentally conscious, more responsible pathway for the entire blockchain sphere. The commitment articulated here goes beyond mere rhetoric—it&#8217;s a tangible action to advance the cause of sustainability in this rapidly growing industry.</p>



<p>Solana isn&#8217;t merely sitting on the sidelines or passively observing the unfolding scenario in the blockchain universe. Instead, they are stepping forward, seizing the initiative, and leading the charge towards a significant paradigm shift: <strong><em>Blockchain Carbon Transparency</em></strong>. By pursuing this bold initiative, they aim to instigate a radical transformation in the general perception and functional operations of blockchain technology.</p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="541" src="https://hodl.fm/wp-files/2023/08/image-3-1024x541.jpg" alt="carbon transparency solana" class="wp-image-2829" srcset="https://hodl.fm/wp-files/2023/08/image-3-1024x541.jpg 1024w, https://hodl.fm/wp-files/2023/08/image-3-300x159.jpg 300w, https://hodl.fm/wp-files/2023/08/image-3-768x406.jpg 768w, https://hodl.fm/wp-files/2023/08/image-3-1536x812.jpg 1536w, https://hodl.fm/wp-files/2023/08/image-3-816x431.jpg 816w, https://hodl.fm/wp-files/2023/08/image-3.jpg 1600w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<p>The pressing issue of Blockchain Emissions is being boldly tackled by Solana, which seeks to spearhead a major shift in the industry, aiming to minimize its environmental impact while continuing to foster innovation and growth</p>



<p>in essence, this innovative firm is actively redefining the potential scope and the environmental footprint of blockchain technology, by leading the way in the adoption of greener methodologies. They aim to become the trailblazers, influencing other players in the industry to acknowledge and act upon the urgent need for environmental accountability. Solana&#8217;s mission reflects an unwavering focus on bringing about a revolution in the field, demonstrating that innovation, profitability, and environmental responsibility can indeed coexist in the blockchain ecosystem.</p>



<h2 class="wp-block-heading">Broadening the Horizons: Tracking, Monitoring and Beyond</h2>



<p>By making carbon emissions visible, trackable, and understandable, Solana has ignited a transformation in the blockchain industry. Their emissions dashboard stands as a formidable testament to the capacity of technology to address the urgent issue of our collective carbon footprint, casting a new light on the potential of blockchain networks to contribute positively to global sustainability efforts.</p>



<figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="750" height="500" src="https://hodl.fm/wp-files/2023/08/future2-min.gif" alt="" class="wp-image-2833"/></figure>



<h2 class="wp-block-heading">Solana&#8217;s Emissions Dashboard as a Beacon for Carbon Emissions Transparency</h2>



<p>To sum it all up, Solana&#8217;s new emissions dashboard isn&#8217;t merely a trendy new tool; it&#8217;s a beacon illuminating the path towards a greener, more transparent future for blockchain technology. It&#8217;s a significant leap towards reducing the Blockchain Carbon Footprint, enhancing Carbon Emissions Transparency, and promoting a sustainable approach to digital innovation.</p>



<p><em><strong>Solana Emissions Dashboard,</strong></em> a groundbreaking development from this forward-thinking blockchain firm, showcases their commitment to environmental sustainability, serving as a crucial tool in monitoring and managing the carbon footprint associated with blockchain processes.</p>



<p>As we traverse this digital landscape, it&#8217;s crucial to remain cognizant of the impact of our actions. Even in the seemingly intangible realm of the digital world, every click, every transaction, every block added to the chain resonates with real-world consequences. Let&#8217;s strive to ensure this impact aligns with the goals of sustainable development.</p>



<p>Therefore, let&#8217;s embrace Solana&#8217;s pioneering emissions dashboard. Let&#8217;s weave it into the fabric of our crypto-journey, nurturing an ecosystem of informed crypto-traders committed to promoting carbon emissions transparency.</p>



<h2 class="wp-block-heading">Last Words: The Future of Blockchain Begins with Carbon Transparency</h2>



<p>With that, we conclude our deep dive into the world of Solana and their trailblazing emissions dashboard. To a future steeped in green initiatives, where blockchain champions transparency and sustainability, we raise a toast. To Solana, for sparking a shift towards more conscious, carbon-accountable digital innovations, we applaud. So, explore the dashboard, take part in redefining the carbon footprint of your digital transactions, and let&#8217;s co-create a digital environment that echoes with the harmony of sustainability.</p>


hodlfm-template-cover-green

A Deeper Dive into Blockchain Carbon Transparency: Solana’s New Emissions Dashboard Takes Centre Stage


<h2 class="wp-block-heading">When History Meets Web3: Salsal&#8217;s Artistic Revolution</h2>



<p>In a meeting of minds, computer scientist Adel Khelifi and archaeologist Mark Altaweel <a href="https://edition.cnn.com/2023/07/31/world/ancient-treasures-are-being-looted-but-blockchain-could-help-protect-them/index.html">joined forces</a> to conduct a revolutionary blend of historical artifacts and the unyielding power of blockchain &#8211; they call it <a href="https://agur-ab416.web.app">Salsal</a> (also known as Agur).</p>



<div class="d-flex justify-content-center"><ins class="64c25105bd391bf86a4f85f8" style="display:inline-block;width:1px;height:1px;"></ins><script>!function(e,n,c,t,o,r,d){!function e(n,c,t,o,r,m,d,s,a){s=c.getElementsByTagName(t)[0],(a=c.createElement(t)).async=!0,a.src="https://"+r[m]+"/js/"+o+".js?v="+d,a.onerror=function(){a.remove(),(m+=1)>=r.length||e(n,c,t,o,r,m)},s.parentNode.insertBefore(a,s)}(window,document,"script","64c25105bd391bf86a4f85f8",["cdn.bmcdn6.com"], 0, new Date().getTime())}();</script></div>


<div class="wp-block-image">
<figure class="aligncenter size-full is-resized"><img decoding="async" loading="lazy" src="https://hodl.fm/wp-files/2023/08/supermeme_11h51_14.jpg" alt="" class="wp-image-2772" style="width:506px;height:316px" width="506" height="316" srcset="https://hodl.fm/wp-files/2023/08/supermeme_11h51_14.jpg 1000w, https://hodl.fm/wp-files/2023/08/supermeme_11h51_14-300x188.jpg 300w, https://hodl.fm/wp-files/2023/08/supermeme_11h51_14-768x481.jpg 768w, https://hodl.fm/wp-files/2023/08/supermeme_11h51_14-816x511.jpg 816w" sizes="(max-width: 506px) 100vw, 506px" /></figure></div>


<h2 class="wp-block-heading">A Bridge to the Past, Forged in the Future</h2>



<p>Imagine a world where ancient relics coexist with cutting-edge technology. Salsal seeks to build that very bridge, bringing historical artifacts to the forefront of the digital age. With a pinch of Web3 magic, they&#8217;re creating a protocol that separates fact from fiction, ensuring a tamper-proof validation system that even Indiana Jones would envy.</p>



<p>Read more: <a href="https://hodl.fm/google-cloud-support-web3-creators/">Google Cloud Expands Support Program for Web3 Creators</a></p>



<h2 class="wp-block-heading">Cultural Heritage in the Limelight</h2>



<p>For too long, cultural heritage has yearned for its moment in the spotlight. Salsal aims to change that, offering its services exclusively to &#8220;cultural heritage organizations.&#8221; Finally, these treasures will shine bright, leaving no room for doubt about their authenticity.</p>



<blockquote class="wp-block-quote">
<p>“Once proven to be legitimate, the Collector can turn it into an NFT which is a Non Fungible Token. We use NFTs as their data is stored on the Blockchain and is immutable, allowing us to document the transfer of ownership accurately.”</p>
<cite>Salsal website</cite></blockquote>



<p>The world may be filled with wonders, but not all of them are accounted for. Legends like the Honjo Masamune and the Crown Jewels of Ireland have faded into obscurity, victims of time and nefarious deeds. Countless others met a similar fate, snatched from historical sites before the experts could even begin to document their magnificence.</p>



<p>Read more: <a href="https://hodl.fm/art-metaverse-british-museum-sandbox/">Artful Adventures in the Metaverse: The British Museum and The Sandbox Team Up</a></p>



<h2 class="wp-block-heading">From AI Detectives to Artifact Validators</h2>



<p>Before Salsal came into the picture, Altaweel and Khelifi teamed up to use AI in their quest to uncover <a href="https://journals.sagepub.com/doi/pdf/10.1177/08944393231188471">looted artifacts</a>. Talk about dynamic duos! With that experience, they&#8217;re now employing an expert group to grade artifacts on a five-point scale, creating an impeccable system of verification.</p>



<div class="d-flex justify-content-center"><ins class="64c250b9b41a4b5be53156b1" style="display:inline-block;width:1px;height:1px;"></ins><script>!function(e,n,c,t,o,r,d){!function e(n,c,t,o,r,m,d,s,a){s=c.getElementsByTagName(t)[0],(a=c.createElement(t)).async=!0,a.src="https://"+r[m]+"/js/"+o+".js?v="+d,a.onerror=function(){a.remove(),(m+=1)>=r.length||e(n,c,t,o,r,m)},s.parentNode.insertBefore(a,s)}(window,document,"script","64c250b9b41a4b5be53156b1",["cdn.bmcdn6.com"], 0, new Date().getTime())}();</script></div>



<h2 class="wp-block-heading">NFTs: The New Age of Ownership</h2>



<p>Once an artifact passes the litmus test, it&#8217;s crowned with the prestigious title of NFT &#8211; a Non-Fungible Token. In the realm of Salsal, NFTs reign supreme, with their data etched indelibly into the blockchain, providing an ironclad record of ownership transfers.</p>


<div class="wp-block-image">
<figure class="aligncenter size-large"><img decoding="async" src="https://media1.giphy.com/media/8QgcxdQDdNaswEUtMv/giphy.gif?cid=ecf05e478cr8izr0rdjf4bpsjaf1u30ylwcun2l5bh2295p9&amp;ep=v1_gifs_related&amp;rid=giphy.gif&amp;ct=g" alt=""/></figure></div>


<p>Salsal&#8217;s ambitious dream doesn&#8217;t stop at mere validation. They&#8217;re envisioning a world where curators vie to have their collections Salsal-approved. Picture curators passionately seeking verification, akin to comic book enthusiasts seeking validation from commercial graders.</p>



<h2 class="wp-block-heading">A Blockchain Shield Against Thieves</h2>



<p>While some databases already house information on historical artifacts, Salsal takes it a step further with a unified database running on an immutable blockchain. The result? A robust shield against theft and looting, compelling sellers and curators to uphold a documented provenance.</p>


<div class="wp-block-image">
<figure class="aligncenter size-full is-resized"><img decoding="async" loading="lazy" src="https://hodl.fm/wp-files/2023/08/image-2-2.jpg" alt="" class="wp-image-2773" style="width:506px;height:285px" width="506" height="285" srcset="https://hodl.fm/wp-files/2023/08/image-2-2.jpg 590w, https://hodl.fm/wp-files/2023/08/image-2-2-300x169.jpg 300w" sizes="(max-width: 506px) 100vw, 506px" /></figure></div>


<p>In a world where history and technology entwine, Salsal emerges as the savior of cultural heritage, empowering artifacts with unassailable blockchain armor. As the past and the future merge, trust and authenticity find a new sanctuary in the world of digital. </p>



<p><em><strong>Disclaimer</strong>:&nbsp;All materials on this site are for informational purposes only. None of the material should be interpreted as investment advice. Please note that despite the nature of much of the material created and hosted on this website, HODL.FM is not a financial reference resource and the opinions of authors and other contributors are their own and should not be taken as financial advice. If you require advice of this sort, HODL.FM strongly recommends contacting a qualified industry professional.</em></p>


Salsal Unchained: When Artifacts and Blockchain Collide


<p>Circle, a fintech company, launched the Euro-backed stablecoin last year. Until recently, it ran on Ethereum, which we all know is a solid blockchain but not without its quirks. But now, hold your horses, because they&#8217;ve announced that the Euro-coin (EUROC) will be <a href="https://news.bitcoin.com/circle-expands-euro-pegged-stablecoin-to-avalanche-blockchain/">available on Avalanche</a>. Holy moly, that&#8217;s some perfect news! Let&#8217;s dive into why this is so exciting.</p>



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<h2 class="wp-block-heading">Circle’s Background</h2>



<p>So, first of all, who the hell are Circle and why has this made so much noise?</p>



<p>For those who have never heard of them, Circle is a financial company that provides a platform for <a href="https://cointelegraph.com/tags/circle">instant money transfers</a>. They started as a small firm back in 2013 and have gained their fair share of followers step by step by expanding their services and offering unique features. One of their standout selling points was the introduction of insured Bitcoin Wallets, after they had received a BitLicence and were allowed to handle Bitcoin in the first place. To make sure their users don&#8217;t end up empty-handed if their coins get swiped, Circle has got their backs covered with a stash of Bitcoin equivalent to the total amount held by their users.</p>



<p>Remember how I mentioned instant money transfers? Exactly. Another feature is using blockchain to transfer fiat money. I mean, I know you can do that, but how cool is that they are doing that on such a scale?</p>


<div class="wp-block-image">
<figure class="aligncenter size-large"><a href="https://www.avax.network/blog/circle-launches-native-euro-coin-on-avalanche"><img decoding="async" loading="lazy" width="1024" height="512" src="https://hodl.fm/wp-files/2023/08/image-1-3-1024x512.jpg" alt="https://www.avax.network/blog/circle-launches-native-euro-coin-on-avalanche" class="wp-image-2746" srcset="https://hodl.fm/wp-files/2023/08/image-1-3-1024x512.jpg 1024w, https://hodl.fm/wp-files/2023/08/image-1-3-300x150.jpg 300w, https://hodl.fm/wp-files/2023/08/image-1-3-768x384.jpg 768w, https://hodl.fm/wp-files/2023/08/image-1-3-816x408.jpg 816w, https://hodl.fm/wp-files/2023/08/image-1-3-400x200.jpg 400w, https://hodl.fm/wp-files/2023/08/image-1-3.jpg 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></a><figcaption class="wp-element-caption">Source: <a href="https://www.avax.network/blog/circle-launches-native-euro-coin-on-avalanche">Avax.Network</a></figcaption></figure></div>


<h2 class="wp-block-heading">Euro-Based Stablecoin</h2>



<p>Now back to EUROC. EUROC is a stablecoin, which means it is backed up by actual Euro. These things exist to serve as kind of equivalents to fiat currencies.&nbsp; Unlike other crypto currencies there are, the prices of stablecoins, including that of EUROC, are stable; crypto market does not impact them that much.</p>



<p>The fact that EUROC is a digital currency that takes its value from real cash is just one of the perks there are. This actually means that severe fluctuations of its price are not expected, which makes EUROC a perfect medium for transactions. Besides, they can be used as a way of transferring funds using blockchain technology; faster and at lower prices.</p>



<p>Before EUROC, Circle did the trick with American bucks, and that’s how USDC came into this world. This is exactly why launching EUROC was no surprise to anyone, and experts were really welcoming the launch. John Nahas, <a href="https://www.circle.com/en/pressroom/circle-takes-euro-coin-multi-chain-with-launch-on-avalanche">Vice President of Business Development at Ava Labs</a>, says that they see that USDC trades well and the volumes are fine, so they think it will be about the same with Euro-coin, as both fiat currencies have great worldwide recognition.</p>



<p>Read also: <a href="https://hodl.fm/usdt-usdc-busd/">USDT, USDC, and BUSD – Which one is the best stablecoin?</a></p>



<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="512" src="http://hodl.fm/wp-files/2023/08/1600x800_euro-based-stablecoin_BP-325-1024x512.jpg" alt="Euro-Backed Stablecoin" class="wp-image-2771" srcset="https://hodl.fm/wp-files/2023/08/1600x800_euro-based-stablecoin_BP-325-1024x512.jpg 1024w, https://hodl.fm/wp-files/2023/08/1600x800_euro-based-stablecoin_BP-325-300x150.jpg 300w, https://hodl.fm/wp-files/2023/08/1600x800_euro-based-stablecoin_BP-325-768x384.jpg 768w, https://hodl.fm/wp-files/2023/08/1600x800_euro-based-stablecoin_BP-325-1536x768.jpg 1536w, https://hodl.fm/wp-files/2023/08/1600x800_euro-based-stablecoin_BP-325-816x408.jpg 816w, https://hodl.fm/wp-files/2023/08/1600x800_euro-based-stablecoin_BP-325-400x200.jpg 400w, https://hodl.fm/wp-files/2023/08/1600x800_euro-based-stablecoin_BP-325.jpg 1600w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>



<h2 class="wp-block-heading">Role of Avalanche Blockchain</h2>



<p>Avalanche Blockchain uses a cooler version of the algorithms such as <a href="https://hodl.fm/proof-of-work-vs-proof-of-stake/">Proof-of-Stake (Ethereum) or Proof-of-Work (Bitcoin)</a>. Unlike those algorithms, were transaction is validated by specific number of validators, Avalanche uses another consensus mechanism called “<a href="https://avalanche.org/wp-content/uploads/2018/08/07_CAGEO_KronholmBirkeland.pdf">randomized sampling</a>.”</p>



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<p>Circle has been using Avalanche to facilitate faster and cheaper transactions, basically. Joao Reginatto, the vice president of product at Circle, said that when they first launched EUROC last year, they expected to make Euro, or rather its crypto equivalent, available to anyone anywhere, and now with Avalanche, it becomes <a href="https://cointelegraph.com/news/circle-euro-based-stablecoin-on-avalanche-blockchain">more affordable</a>. Besides, as decentralized finance is becoming more ubiquitous and multi-coin, introducing Euro-coin seems to be contributing to the diversity and may actually be one of the steps toward expansion of the available options. After all, who knows what the future of finance will look like? Will we have physical cash or even bank accounts in 10-20-30 years? I don’t know, do you?</p>



<figure class="wp-block-image size-full"><img decoding="async" loading="lazy" width="960" height="883" src="https://hodl.fm/wp-files/2023/08/image-1-4.jpg" alt="" class="wp-image-2747" srcset="https://hodl.fm/wp-files/2023/08/image-1-4.jpg 960w, https://hodl.fm/wp-files/2023/08/image-1-4-300x276.jpg 300w, https://hodl.fm/wp-files/2023/08/image-1-4-768x706.jpg 768w, https://hodl.fm/wp-files/2023/08/image-1-4-816x751.jpg 816w" sizes="(max-width: 960px) 100vw, 960px" /></figure>



<h2 class="wp-block-heading">Impact on Crypto Markets</h2>



<p>The crypto market impact is basically associated with the fact that EUROC is another stablecoin on the market. The key expected impact of introducing it on Avalanche according to Circle themselves is improving the liquidity of the fiat Euro and expanding its functionality. Besides, rumor has it, they have also applied to become a <a href="https://beincrypto.com/usdc-issuer-circle-euroc-stablecoin-avalanche-network/">fully registered Digital Assets Service Provider</a> in Europe, which is why having a Euro stablecoin that runs on a blockchain platform with good reputation and a wide spectrum of protocols that make it stand out, seems to be a logical first-step to conquering European cryptocurrency market.</p>



<p>To wrap it all up, Circle&#8217;s move to bring the Euro-coin to Avalanche is a basically a game-changer. It adds another dash of stability to the crypto world due to stablecoin advantages, while opening up new possibilities for fast and affordable transactions due to Avalanche blockchain technology. With Circle&#8217;s reputation and their plans to conquer the European market, EUROC in particular and Circle’s increased presence in Europe in general hold the potential we may not even realize. Who knows, we might just witness a revolution in the way we handle money in the years to come. Maybe, we’ll even see the whole banking system reformed. Or made obsolete. So buckle up and get ready for the ride!</p>


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