https://en.cryptonomist.ch/2023/12/04/kadan-stadelmann-fourth-bitcoin-halving-supply-shock/

Bitcoin halvings are widely anticipated for their effect on Bitcoin’s price. Although the final bitcoin is not expected to be mined until the year 2040, nearly 94% of the 21 million bitcoins ever to exist have been mined already. By the time of the fourth Bitcoin halving, due to take place in April 2024, 97% of all bitcoin will have been mined. 

The halving happens approximately every four years (or every 210,000 blocks) to control the rate at which new bitcoins are created. By reducing the block reward, which happens every ten minutes, the total supply of bitcoins is gradually limited.

When Bitcoin first launched in 2009, the Bitcoin block reward was 50 Bitcoin. In 2012, the block reward dropped to 25 bitcoins. The block rewards have since dropped to 6.25. The forthcoming Bitcoin halving will drop the Bitcoin block reward down to 3.125 bitcoins per block reward. 

In essence, halvings represent supply shocks built into the Bitcoin algorithm, and the fourth Bitcoin halving could have the biggest effects on the Bitcoin market since the first Bitcoin halving due to market conditions, such as a low available supply of bitcoin and other macroeconomic conditions, such as institutional adoption and pending Bitcoin ETFS. 

Bitcoin Active Addresses

Bitcoin active address charts illustrate BTC movement between wallets, displaying two distinct peaks in Bitcoin’s recent history, the first of which happened in 2018 during the 2016-2020 cycle. Another happened in 2021 during the most recent halving cycle, whereafter Bitcoin began to trade in a volatile fashion until the uptrend of the past three months. 

The following charts display Bitcoin addresses with more than .01 and 0.1 bitcoins. The orange line on the chart shows active addresses, with both charts showing an unrelenting increase in active wallets, when presumably throughout the course of 2022 and 2023 people began to acquire bitcoin at lower prices. 

The below charts display those with more than one bitcoin and 10 bitcoins in each wallet, both showing recent increases. 

The following charts cover the whales more or less, with balances containing more than ten bitcoins and 100 bitcoins. The stagnation in the latter group could be due to the sheer amount of money it takes to enter the group and some profit taking, etc. 

Glassnode Sees Bitcoin Available Supply At Historic Lows 

Meanwhile, Glassnode has found that the ‘available supply’ of Bitcoin is at historic lows due to holders moving coins out of exchanges into cold storage and long-term investor wallets.

Short-Term Holder Supply, which is the supply most likely to be spent, shows that only 5-10% of the circulating supply gets traded actively. 

Glassnode classifies wallets into Illiquid, Liquid, and Highly Liquid categories. Its findings demonstrate that coins have been sent from exchanges to illiquid wallets in a trend dating back to March 2020. 

What To Expect In The Months Ahead Of The Fourth Bitcoin Halving 

After each halving cycle in the past, the Bitcoin price has increased. At the current price of $38,400, Bitcoin is more than four times its price at the time of the third halving. The Bitcoin halving prices plus 150 days chart shows the price 150 days after the halving date. The price on the first halving date in 2012 was $12.35. 150 days later, the Bitcoin price was $127–a 928% increase. The price was 17% higher 150 days after the 2016 halving and 24% higher after the 2020 Bitcoin halving. 

The average of the three cases suggest bitcoin could go to $113,000 after the fourth bitcoin halving. If we remove 2012, the numbers would wind up at a perhaps more reasonable 20% increase in the price of Bitcoin 150 days after the fourth halving. Assuming that Bitcoin is $35,000 on the having date, Bitcoin would land at $42,000. 

With only 40% of existing Bitcoin being traded, and the other 60% stored in long-term wallets, Bitcoin could be in for an unprecedented supply crunch. Considering Bitcoin’s ongoing supply dynamics, it’s reasonable to presume that the upcoming halving could have dramatic effects on the market and especially price, looking more like the 2012 event than more recent halvings.

Kadan Stadelmann

Kadan Stadelmann is a blockchain developer, operations security expert and Komodo Platform’s chief technology officer. His experience ranges from working in operations security in the government sector and launching technology startups to application development and cryptography. Kadan started his journey into blockchain technology in 2011 and joined the Komodo team in 2016.

https://en.cryptonomist.ch/2023/09/09/enaira-facing-popularity-struggle-nigeria/

On October 25, 2021, the Central Bank of Nigeria (CBN) formally introduced the eNaira as a central bank digital currency (CBDC). The Central Bank of Nigeria (CBN) created the eNaira as a central bank digital currency (CBDC) that is a fully legal tender. Further, it is supported by the complete sovereignty of Nigeria. The eNaira was the second CBDC to be completely open to the public after the Bahamas. Similar to Bitcoin or Ethereum, people hold the eNaira in digital wallets. It is usable in financial transactions and transferable digitally. Better yet, sending the eNaira to anyone in the world is essentially free. 

Expectedly, there should be trust in the eNaira as it is issued by the CBN. However, the CBDC is actually seeing a popularity struggle in Nigeria. The CBN is in charge of regulating the forex market and the financial market at large. However, there are currently no brokers licensed by the CBN or the Nigerian SEC. In this article, we will be exploring why the government-backed eNaira is facing a popularity struggle in Nigeria.

eNaira adoption

According to Bloomberg, less than 1.15 million Nigerians had used the digital currency as of October 2022. This accounts for about 0.5% of the nation’s population. The Central Bank of Nigeria (CBN) told reporters that only 1.4 million transactions have been made on the entire platform since it launched. This is very low compared to other mobile money payment systems.

In January 2022, the eNaira app had 694,000 downloads from 160 different countries. It also had more than 35,000 transactions as reported by Aljazeera. According to the International Monetary Fund (IMF), about 98.5 per cent of the currency wallets downloaded after the launch of the digital currency were abandoned. Data from the IMF also indicates that only 1.5% of downloaded wallets completed the weekly eNaira transactions. In terms of customer feedback, the eNaira Speed Wallet software has ratings of 2.9 on the Android Play Store and 2.2 on the iOS App Store. Both online and in real life, it appears that there are significantly more complaints than compliments. From what we could gather, the government-backed eNaira is struggling with popularity due to the challenges below. 

Internet access

A barrier to the adoption of the eNaira has been the limited or lack of access to internet infrastructure, particularly in rural regions. According to the Nigerian Communications Commission (NCC), 30 million individuals in Nigeria still lack internet connectivity as of October 2022. Nigeria has an Internet penetration rate of 51%. Despite a 51 per cent penetration rate, there are approximately 109 million Internet users. The high prevalence of mobile internet in Nigeria is one distinctive element of internet usage. Mobile devices account for over 84 per cent of internet traffic in Nigeria. People who may want to use currency and lack internet connectivity may be limited from using it. 

Trusting the government

One key challenge that the CBN and the eNaira face is a lack of trust. Many Nigerians have an unfavourable opinion of the apex bank and its policies. This may be a result of actions such as the prohibition on cryptocurrencies, the closure of crypto-linked bank accounts, Forex manipulations, and the latest naira redesign. Consequently, people are hesitant to venture into eNaira as they fear financial loss. Specifically, those harmed by the crypto crackdown find it hard to trust the CBN. Building trust is essential for effective banking because it is based on trust between banks and savers. Unfortunately, the limited adoption of the eNaira underscores the difficulties it has in obtaining general trust.

Technical factors of eNaira

The current design of the currency poses a challenge to customers. The central bank will be able to see all eNaira transactions under the existing setup. Unfortunately, consumers may perceive the anti-laundering features incorporated into the eNaira as a breach of privacy. This is because the government is able to monitor all of the people’s money and potentially exploit that knowledge for control. Now this raises a serious issue with the eNaira which is centralization. This raises concern among potential users. Most designs of blockchains and cryptocurrency networks aim to restore power to the people through openness and transparency. In contrast, the design of the eNaira appears to keep as much government control as possible.

Final Thoughts about eNaira

The adoption of the eNaira is proving to be difficult. This necessitates a review of its value proposition and a consideration of Nigeria’s mobile money market. Additionally, there is a need to restore people’s confidence in the CBN. There is a need to form a positive relationship with the public to win people’s trust. Additionally, there is a need for a well-planned public-private partnership. This would ensure the safety and effectiveness of e-money/mobile money transactions. 

The private banking sector’s contributions to financial inclusion may suffer depending on how the CBN controls the eNaira. Clearly, there is more work the CBN needs to do to drive the adoption of the eNaira. If successful, they could easily integrate it into the current mobile payment system. They could do this by making it act as a safer store of value for mobile money users through an integrated mobile CBDC wallet. Additionally, it can function as a bridge instrument to facilitate interoperability between mobile money operators. This is preferable to a model where the eNaira expands its own retail contact points outside of banks. This would mean the central bank replacing the private sector in the economy.

https://en.cryptonomist.ch/2023/09/02/torque-drift-2-debuts-epic-games-store/

In the realm of gaming, some developers stand out not just for their technological prowess but for the stories they weave and the experiences they craft. Grease Monkey Games, an Australian-based subsidiary of Animoca Brands, is one such gem in the industry. 

Established in 2013, the company now boasts a team of over 60 talented individuals, all driven by a singular vision: creating visually stunning games that bridge the gap between the digital and physical world of Motorsports. 

Under the adept leadership of CEO Arran Potter, the studio transitioned into creating original IP games from a successful Film and VFX career in 2014. 

Their journey since has been nothing short of remarkable, amassing over 45 million downloads globally. Among their stellar creations are Torque Burnout, and Torque Drift 1 which have garnered an impressive 45M+ downloads combined.

Their latest groundbreaking creation, Torque Drift 2, is poised to redefine the gaming landscape. It’s not just a racing game; it’s a blockchain-based masterpiece that promises an unparalleled authentic drifting experience phygital integrations never seen before.

Epic Expectations: An Inside Drift into the Game’s Launch!

The countdown has begun! After many conversations with the passionate TD2 team and witnessing their unwavering dedication, we are thrilled to announce that Torque Drift 2 is gearing up for its grand debut on the Epic Games Store. Those who’ve been eagerly waiting can now rejoice as the immersive world of drifting is about to open its doors. What can we expect once TD2 is launched on Epic Games? 

Crafting a Legacy

Built alongside the car community, this game is not merely about programming and graphics. It’s a heartfelt attempt to mirror the lively and diverse world of car and drifting culture. The early access version is but a sneak peek, laying the foundation for the spectacular experiences awaiting players.

Journey Through Time

Torque Drift 2 is set in a fictional Japanese city, offering players a nostalgic trip to the roots of drifting. Neon city streets, scenic rolling hills, and the very soul of the drifting scene await enthusiasts. And while the heart of the game beats in Japan, players will also venture into professional drifting arenas across Formula Drift’s US competition locations such as Long Beach, Road Atlanta, Irwindale Speedway, and much more!

Two Realms of Racing

• Street: Picture the allure of Japan’s nights, where drifters gather, either showcasing their cars or engaging in thrilling drift challenges. Here, it’s not just about the car’s power; it’s about mastery and precision.
• Pro: This is where legends are made. Under bright lights and amidst roaring crowds, drifters compete in structured tournaments, their skills assessed on various parameters from speed to style.

Dive into Diversity

The game’s city, located in Central/Southern Honshu, beautifully blends the old and new drifting generations. Players will navigate through diverse terrains, from bustling docklands to serene hill race tracks. This city, with its evolving drift culture, beckons players to etch their legacy.

Groundbreaking Gameplay

• Collect: With the introduction of digital collectible items, players can truly own their game, customizing and even monetizing digital assets.
• Customize: Torque Drift 2 ups the ante with unparalleled customization options, with every achievement immortalized through blockchain technology.
• Create: The game empowers players to craft their unique content, both through in-game tools and external platforms.
• Connect: Torque Drift 2 is as much about community as it is about cars, fostering connections through an advanced communication system.
• Compete: From 1v1 battles to grand car showcases, the game promises intense competition.
• Roles:
• Tuner/Mechanic: Experts in crafting specialized car setups for specific driving needs.
• Artist: Designers of car paint jobs, decals, and distinctive crew branding.
• Event Organizer: Orchestrators of grand tournaments and intimate crew meets.
• Crew Owner: Pillars forging tight-knit drifting communities and camaraderie.
• Driver: Racetrack stars with legacies etched onto their cars and parts on the blockchain.

Now and Next

As of now, a plethora of features await players – a customization garage, a photo booth, and a myriad of cars and parts. But this is just the beginning. The roadmap promises features like multiplayer challenges, drift battles, and so much more.

In conclusion, Torque Drift 2 isn’t merely a game. It’s an odyssey, a deep dive into the world of car and drifting culture. As it gears up for its grand launch on the Epic Games Store, the world is set for an unparalleled drifting experience. Ready, set, drift!

https://en.cryptonomist.ch/2023/07/18/8-most-promising-stocks/

From smartwatches to insulin sprays that act in seconds, from 3D printers to podcasts, to satellite imagery and drone cabs: these are the objects that will shape everyday life in our near future, and it is precisely the companies most at the forefront of these fields that are the promising stocks to bet on in the next ten years. According to the report “Future 2033: The Most Promising Stocks in the Next 10 Years” by XTB, an international fintech listed on the Warsaw Stock Exchange and one of the largest FX and CFD brokers, investors are being asked to monitor the stocks of eight companies in particular: Apple, 3D Systems, Novo Nordisk, Spotify, Nvidia, Maxar Technologies, EHang and Palantir. 

Walid Koudmani, Chief Market Analyst at XTB, reports:

“On a typical day 10 years from now when we wake up, 3D Systems’ 3D printer will have already ‘made’ us breakfast; on our way to work, the electric car will be playing our favorite podcast because radio stations will likely have disappeared absorbed into content by Spotify; in the office we will be attending the first meetings of the day with colleagues from around the world, wearing Nvidia’s virtual reality goggles that will holographically materialize us all in the same room, and if we work on one of Italy’s largest farms, upon notification of a problem in a particular hectare under our jurisdiction, we will be able to instantly request a high-resolution image using one of Maxar Technologies’ satellites, and if it is necessary to intervene in the field, we will be able to book an air cab made by eHang that will quickly get us to that hectare that is so inaccessible by land.” 

From tech to healthcare, the most promising stocks coincide with companies that are characterized by being on the frontier of innovation. Starting with tech stocks which, after a troubled 2022, have seen earnings reliability return to strength driven by the growth of cloud computing, semiconductor enhancement, and the rise of artificial intelligence and machine learning. Also enjoying excellent health is the drone market, which is estimated to have revenues of $90 billion by 2030 (up from $13.7 billion in 2021), while on the healthcare front, advances in the ability to diagnose, monitor, and treat disease, including through increasingly personalized therapies, are creating a wide range of investment opportunities, and it is very likely that the innovative healthcare market could grow at the same pace as tech.  

Koudmani continues:

“These are stocks that have had a mixed performance this quarter but as earnings season begins, they will be watched closely within the scenario of factors that could contribute to their performance. 

These factors include for instance rising interest rates that would make it more expensive for companies to borrow money, weighing on their earnings. Or the ongoing war in Ukraine, which by creating uncertainty in the global economy, has led some investors to sell these stocks to seek less risky investments. On the other hand, the growth of cloud computing could continue to drive earnings growth for tech companies, as could the continued evolution of artificial intelligence and virtual reality. These technologies have the potential to disrupt a range of industries and could create new opportunities for companies. Overall, although the outlook for these companies is uncertain in the short term, given the potential growth drivers, they could be an attractive investment over the long term.”

Most promising stocks for the next 10 years 

Apple, prices up thanks to Apple Watch

Apple Watch’s features make it an increasingly versatile and useful device for staying fit, organized and connected while on the go. Already capable of managing any health parameter, providing directions, making payments, with upcoming features, it will become more functional than the iPhone itself, driving stock performance.

3D Systems, 3D printing in the service of health

Growth in 3D printer sales has been significant in recent years: currently, the industry is worth $16.75 trillion, with a projected annualized growth of 23.3% through 2030. In addition, the latest developments in food printing, with companies like 3D Systems collaborating with food production companies, could mean a global revolution. In this scenario, 3D Systems stands out in two areas of expertise: industry and healthcare. An area, the latter, where the company is making inroads by driving global innovation in technological frontiers such as replicating patient organs, creating prosthetics and designing cutting-edge medical equipment. 

Novo Nordisk, diabetes treatment research continues unabated

According to a study published in The Lancet, diabetics worldwide will grow to 1.3 billion in the next 30 years, more than double the current half billion men, women and children of all ages living with diabetes in every country. Danish pharmaceutical company Novo Nordisk stands out from its competitors because of its broad portfolio of diabetes treatment products, including insulins and other injectable medicines, as well as oral medicines for the treatment of type 2 diabetes, which is responsible for more than 90% of all diabetes cases. Building on its global presence through continuous investment in research and development, Novo Nordisk is set to confirm the positive results recorded in recent years in the near future.

Spotify, the growth of podcasts driving its success

Podcasts have experienced tremendous growth in recent years. According to Edison Research, the percentage of people listening to them in the United States has risen from 17% of the population in 2015 to 51% in 2021. In the same year, Podcast Insights tracked more than 2 million podcast shows worldwide compared to about 550,000 in 2018: numbers that have nearly tripled in three years and can expect to see further growth by driving Spotify’s growth. 

Nvidia, artificial intelligence drives stock price

Nvidia offers software and services related to artificial intelligence acceleration, including tools for training and implementing deep learning models. A leader in the development of graphics technology, Nvidia has contributed significantly to the advancement of the high-performance computing and games industry. Notable milestones include its new GeForce RTX chip, which represents the company’s biggest generational leap in performance and power efficiency. Also noteworthy is its alliance with key companies in the financial sector, to accelerate the use of AI (artificial intelligence) to streamline processes and customer relations, as well as the automotive industry, to improve the production of electric vehicles by integrating video games and televisions inside.

Maxar Technologies, the space technology of choice for the US government.

According to MarketsandMarkets, the global satellite imagery and tracking market, valued at $11.2 billion in 2020, is expected to grow at a CAGR of 6.4% from 2021-2026. Against this backdrop, Maxar Technologies, a company active in the development of space technology solutions, is able to meet the demand of the growing market for a number of factors including increased investment in space technology, growing demand for real-time space data, and the need for accurate and up-to-date information on a variety of sectors, including agriculture, energy, transportation, disaster management, or defense and security. Particularly in the last area, new contracts acquired with the US government stand out due to rising global geopolitical tensions, which according to recent events, may increase in the coming years.

EHang, development of next-generation drones pushes up stock price

According to market research firm Technavio, the global commercial drone market grew at a CAGR of 36.13% between 2016 and 2020. It is also expected to continue to grow at a significant rate in the coming years, driven by a wide range of applications in various sectors, such as agriculture, construction, logistics, security and surveillance, photography and cinematography, or in emergency situations, enabling the delivery of food and humanitarian aid to hard-to-reach places. The advancement of these types of vehicles will lead in the coming years to their daily use in everyday life – it will be possible to see them on the road delivering packages for example. And technology company EHang, which specializes in autonomous aerial vehicles for civilian and commercial use, such as passenger and cargo transport, inspection and surveillance, public safety and emergency management, is bound to reap the benefits. 

Palantir, data analytics for process optimization 

Palantir (Gotham) is a data analytics platform that helps organizations integrate and analyze large data sets from various sources, such as financial documents, intelligence data, and medical records, to uncover patterns and relationships. The company, which focuses primarily on public clients such as government agencies and defense organizations, could be the future of data processing for statistical analysis.

https://en.cryptonomist.ch/2023/07/08/mobile-wallets-replace-hardware-wallets/

By Ivo Georgiev, CEO and founder of Ambire Wallet

When it comes to crypto storage, hardware wallets have long been considered the gold standard from a security standpoint. However, given ongoing advances in mobile wallet technology and recent slip-ups from established hardware wallet providers, it appears mobile wallets may ultimately replace hard wallets as the go-to choice – both in terms of convenience AND security.

More specifically, the secure enclaves and trusted execution environments used in today’s mobile devices are more reliable than hardware wallets made by new startups. By leveraging these tried and true technologies and combining them with smart wallet capabilities such as account abstraction, mobile wallets are poised to become the de facto choice for both existing crypto holders and the rising tide of new users.

Mobile Phones Are Already Impervious to Most Attacks

Today’s mobile phones are secured by a battle-tested arsenal of security features which have withstood the test of time. Chief among them are Apple’s Secure Enclave and Android’s Trusted Execution Environment (TEE). These battle-tested technologies enhance wallet security in ways that meet, and increasingly surpass, the capabilities of stand-alone hardware wallets.

Apple’s Secure Enclave is a separate coprocessor embedded within the main processor of iOS devices, which operates independently with its own secure memory. This technology is isolated from the rest of the device’s system, where it securely performs cryptographic operations related to user authentication, secure boot, and secure transactions.

On the other hand, Android’s TEE is a separate environment within the main processor, which utilizes a combination of hardware and software isolation mechanisms to create a secure execution environment. Unlike Apple’s Secure Enclave, TEE is an open industry standard implemented by various manufacturers, which means the level of security and implementation may vary between different Android devices. However, TEE has a long track record of utilizing secure execution environments to protect sensitive data and perform secure computations.

In short, both Secure Enclave and TEE are dedicated security components designed with strong isolation techniques, separate from the main processor, memory, and other system components. This isolation makes it extremely difficult for malicious actors or compromised software to gain unauthorized access to critical data. And given that both operating systems have been around for nearly two decades and receive regular security updates from Apple and Android, these technologies remain resilient against emerging threats and are arguably among the most reliable hardware security solutions on the planet. 

How Mobile Technology Enhances Web3 Wallet Security

Mobile device’s existing security features operate as a reliable base layer of security for web3 wallet applications, especially net-generation smart wallets that incorporate advanced features such as account abstraction.

Apple has a vendor lock in and the private key cannot be extracted. Due to this vendor lock-in, the only supported signing algorithm is incompatible with popular cryptocurrencies like Bitcoin and Ethereum. But due to technological advancements like account abstraction, signing with the Apple Secure Enclave is now possible.

And while Secure Enclave is based on secp256r1 elliptic curve encryption, unlike Bitcoin’s, which uses secp256k1, account abstraction allows users to verify secp256r1 to use the Secure Enclave.

As a result, a user’s private key can be securely stored within their phone’s Secure Enclave or TEE. This means cryptographic operations, such as signing transactions or verifying signatures, can be performed directly within the secure environment without exposing the private key to a potentially compromised software stack. This secure key storage and operations model significantly reduces the risk of key exposure, since the keys are protected even if the main operating system or other apps are compromised.

On top of that, account abstraction pushes users towards multi-factor authentication and account recovery, which makes it pointless for hackers to even attempt extracting users’ seed phrases. This, coupled with the fact that Secure Enclave and TEE offer robust user authentication mechanisms such as biometric authentication features are completely absent on most hardware wallets. In other words, the private key required for signing a transaction is securely retrieved and used within the trusted environment, and sensitive operations like executing smart contracts, sending funds, or generating cryptographic proofs can be performed within a Secure Enclave or TEE.

Hardware Wallets Have Not Lived Up to Their Promise

There is no doubt that hardware wallets have long been considered the gold standard of secure crypto storage. These devices have been around since 2013 and saw a surge in adoption dating back to the 2017 bull run, which witnessed high profile hacking incidents and exchange breaches. But the fact is, while new hardware wallets are steadily released into the market each year, most of these devices have failed to live up to their promise.

For instance, Ledger’s new Ledger Recovery feature was widely panned by the crypto community due to the fact that it introduces a theoretical backdoor to a device that is supposedly firewalled from the broader internet. Ledger co-founder’s insistence that this opt-in feature should not pose a risk “because nothing will happen without your consent on your device” did little to assuage the community, given the long history of cybersecurity attacks specifically designed to exploit similar opt-in features to devastating effect.

Trezor has also had its fair share of controversies. In 2022, a white hat hacker successfully accessed the contents of a Trezor One wallet by exploiting the device’s firmware update protocol via a fault injection attack. While Trezor has since updated its firmware update process, just last month a cybersecurity firm was able to physically hack into the Trezor T and successfully retrieve the hardware wallet’s seed phrase and pin.

Contrast against the fact that, while many attempts have been made to hack the Secure Enclave, nobody has succeeded in remotely retrieving anyone’s keys to date – despite the fact that hundreds of millions of iPhones are sold each year, giving malicious actors plenty of opportunities to try, and the enclave being used in applications more mainstream than crypto.

The Crypto Industry needs a Mainstream Self-Custody Solution

Clearly, many of the security risks that have been written off by hardware wallet companies as “theoretical” concerns have proven to be exploitable in real-world situations. Social engineering attacks remain the fastest growing and most devastatingly effective form of crypto exploit. However, the fact that today’s hardware wallets remain susceptible to side-channel attacks, firmware risks, and power glitching means cold wallet users have additional attack verticals to worry about, which are far less of a concern when using a well-designed mobile wallet.

The crypto industry is in dire need of a mainstream self-custody solution that is both intuitive and secure, without sacrificing on either. By harnessing the power of mobile devices and recent developments in account abstraction, web3 wallets can deliver an unparalleled combination of user-friendly interfaces and cutting-edge security. Mobile devices have replaced countless standalone devices and are increasingly underpinning most of our social and commercial interactions, and there are many good reasons to continue trusting these devices with the things we value.  

https://en.cryptonomist.ch/2023/06/22/five-years-stasis-eur-stablecoin-journey/

In an era characterized by remarkable innovation and technological evolution, the advent of blockchain technology a decade ago often goes unappreciated, yet its impact has been profound. We find ourselves amid a tumultuous shift in numerous sectors, and the financial domain being one of the most drastically transformed. Any established pillars, such as gold and conventional fiat money, are seen as outmoded by the new generations, with cryptocurrencies such as stablecoins swiftly taking center stage.

We’ve been witnessing exciting industry developments from the front-row seat as, on the 22nd of June, we celebrate the fifth anniversary of the first EURS emission. Over these turbulent years, the STASIS team has worked tirelessly, accumulating numerous achievements worth highlighting.

What is EURS today?

For those who may need to become more familiar, STASIS is a fintech company that provides a seamless transition from Web 2.0 to Web 3.0 financial services. We have set our mission from the very start: to provide a safe harbor and stable environment for digital asset market players. EURS is the first euro-backed digital asset, combining the benefits of the world’s second-most traded currency with the transparency, immutability, and efficiency of the blockchain, boasting over $6B in transferred value up to date. 

During the five years of stablecoin operations, we have sealed over 30 partnerships with exchanges and liquidity providers in various countries. Our partners include custodians, financial intermediaries, payment institutions, blockchain analytics companies, and auditors. We’ve established our institutional-grade infrastructure through partnerships with top banking (BankFrick), capital markets (Exante), data compliance (Chainalysis, Elliptic), and custody (PrimeTrust, BitGo) service providers. Unlike other significant stablecoins that operate on the USD market, EURS exclusively serves the European Union’s needs.

MILESTONE REPORT

Since 2018, we’ve not only managed to hold our ground in the turbulent crypto landscape but also to expand our influence and establish global partnerships while maintaining a positive image in public and regulatory eyes. 

Let’s traverse several key milestones together:

• We built the reliable Bridge from Web 2.0 to Web 3.0

We’ve constructed a crucial piece of safe and reliable Web 3.0 infrastructure that blends financial services with burgeoning self-custodial economies, enabling entities to legitimately integrate euro-as-a-service layers, onboard clients, and transfer funds between decentralized finance and the traditional financial ecosystem.

• We set a New Standard for Stablecoin Transparency

Securing verifications from top audit firms was vital for us to reassure our clientele of our transparency. We trust that customers and trading platforms appreciate STASIS’ approach to stablecoin management and cash reserve transparency, as regulation slowly but steadily arrives in the EU. Establishing a partnership with top auditing BDO in Malta was a step in the right direction. 

• We Explored Multi-Chain Capabilities

While Ethereum forms the base layer for many stablecoins products, evident network scalability issues have prompted many to seek alternative solutions. We opted to transform EURS into a multi-chain asset to boost competitiveness and performance in DeFi. Today, EURS competes confidently in the DeFi arena with the most extensive euro-denominated staking pools. The multi-chain infrastructure is live on Ethereum, Algorand, Polygon, Ripple, XDC, with several other blockchain rails under development.

• We outmaneuvered the competition

We proudly hold the title of the best and most trusted euro stablecoin in 2023. By meticulously adhering to existing regulations from the outset and educating decision-makers on E-money 2.0, we’ve propelled EURO stablecoin to its current position as the #1 Non-USD asset. Moreover, EURS is set to become the first MICA-compliant asset, raising the bar for the sector!

• We launched the Zero-Gas Stablecoin Wallet

The STASIS wallet app represents an innovative leap forward in stablecoin-focused mobile applications. We created the first mobile wallet designed specifically to enable the seamless usage of stable cryptocurrencies or everyday transactions, thus fostering a new era of financial inclusion in the age of Web3. The app’s core feature is the “Delegated Transfer,” which enables one to pay transaction fees in EURS without the need to buy and hold GAS for transactions. With our stablecoin wallet, we have successfully opened a convenient gateway to crypto for both institutions and mainstream users. 

The Next Big Step Forward for STASIS

And what’s next for STASIS and EURS? We’re going to offer… narrow banking services! 

Narrow banking is a banking model where banks accept deposits but only invest in safe, short-term, and liquid assets like government bonds. This model restricts commercial lending and speculative activities, aiming to minimize financial crises risk and ensure the safety of customer deposits.

STASIS takes narrow banking to the next level by dramatically reducing counter-party risk by limiting it solely to central banks, which are institutions designed to be fail-proof under any circumstances. Our company provides customers with unparalleled security in this groundbreaking configuration, guaranteeing they can retrieve 99.99% of their funds under any imaginable scenario, which exceeds the standard insurance level of 100.000 euros provided by conventional banks.

Moreover, STASIS offers a consistent and high-quality service for payments. It accomplishes this by bypassing the ever-changing compliance regulations of commercial banks, which can unpredictably shift from crypto-friendly policies to high-risk avoidance, often leaving customers in the lurch.

Finally, our model ensures this volatility doesn’t impact the customers, thereby providing a stable, reliable financial service.

We hope that you will continue this exciting journey with us! You can support our growth by spreading your word, purchasing EURS, and helping us to boost awareness.

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https://en.cryptonomist.ch/2023/05/27/crypto-bull-run-ai-tokenization/

Like any cyclical market, another crypto bull run is on the horizon. Exactly when it will arrive is hard to tell, but analysts estimate it could happen by late 2023 or early 2024

In Web3, the bear markets are a time to build and innovate, and the quiet surrounding them tends to breed ingenuity and creativity. This bear market has been no different. Within this bear market period, two new tech sectors are paving the way to lead the next crypto bull run: Artificial Intelligence (AI) and tokenisation.

Social Media has already accepted that AI is going to change everything. AI applications already range from natural language processing (NLP), speech recognition, machine learning and generative AI, to name just a few. 

In the first half of this year, applications of AI-generated text and images from the chatbot ChatGPT and the text-to-image software Dall-E from OpenAI have taken the world by storm. 

While both such software does not use cryptocurrencies or blockchain, the hype around these apps has catapulted crypto traders to bet on crypto AI projects and AI-focused tokens as the next area of exponential growth.

The great potential of AI and tokenisation combined

Tokenisation refers to converting real-world assets into digital tokens on the blockchain. This enables fractional ownership, increased liquidity, and easier transferability of traditionally illiquid assets such as real estate, art or commodities. 

The disruptive aspect of tokenisation is something many people and businesses have yet to grasp fully. Still, its impacts could be just as momentous as AI. Its potential to transform the global economy is both fantastic and terrifying. 

AI and cryptocurrency didn’t take long to ally themselves through AI crypto tokens. This new digital asset class uses blockchain technology and AI together. 

They fuel AI-based projects or apps, such as decentralised exchanges or markets, services for creating images or texts or investment protocols based on AI. 

Compared to cryptocurrencies like BTC or ETH, which are the native assets of a blockchain, AI tokens are created as part of a platform that is built on an existing blockchain network. 

At the time of writing, The Graph (GRT), Render Token (RNDR) and SingularityNET (AGIX) are among the AI and big data-related tokens with the largest market capitalisations.

AI algorithms have the potential to significantly enhance the security of crypto tokens by detecting anomalies or predicting potential threats before they occur and make real-time adjustments. 

This can help investors and traders mitigate risks during periods of volatility and even save enterprises millions of dollars in damages and lost revenue due to data breaches. 

In addition to security, crypto traders can benefit from AI-powered algorithms that enable enhanced trading strategies. Compared to humans, AI can analyse large volumes of data much quicker and identify patterns and trends in cryptocurrency markets – from token prices to social media sentiment and news articles. 

This facilitates traders to develop more sophisticated and profitable trading strategies, potentially leading to increased market efficiency. 

AI can also enhance DeFi lending and borrowing platforms by providing more accurate risk assessment models, optimising liquidity provision and automating various processes.

While AI can now process, optimise, and handle a human-like approach to problem-solving and processes at terrific scales. Tokenisation can provide the infrastructure to remove the limitations of trading previously illiquid assets. 

The historical issue with valuable assets, be it gold, silver, gems, property, bonds or fine art, has always been finding a buyer. 

It is not that people didn’t want the item; it was just difficult to find someone who could afford it; this can be a lengthy process through traditional methods. 

Tokenisation removes this problem and fractionalises it, meaning anyone can buy a piece of a valuable asset for a relatively small investment within minutes on both centralised and decentralised exchanges; gone are the days of a lengthy buying process.

We have only just begun to understand the actual impacts AI and tokenisation will have on the world. Various factors, including regulatory changes, technological advancements, and investor sentiment, still influence the market, and these safeguards are likely to be needed further down the road. 

For many, an interconnected and instantaneous world of AI and tokenised assets sounds like something from a high-science fiction book. However, people within the crypto community recognise the long-term opportunity of investments in both areas; what better time to test this theory than in the next crypto bull market? 

By Mohammed Khashogji

Mohammed Khashogji is the founder and CEO of Project Nexus, an app that offers stocks, crypto and tokenized real estate in a simple and easy-to-operate manner.

https://en.ethereumworldnews.com/a-beginners-guide-to-eip-5725-transferable-vesting-nfts/

Since the launch of the ERC-721 standard for non-fungible tokens in 2018, the crypto world has seen NFTs evolve in ways that would have been difficult to imagine five years ago. New use cases and capabilities are fundamentally changing the way users interact with not only the NFTs themselves, but also with the projects and companies behind the NFTs.

Core contributors to ApeSwap, a decentralized exchange and bonding protocol, and team members of Paladin, a blockchain security provider, collaborated to develop an extension to the ERC-721 standard that allows for exciting new functionality for NFTs. The EIP-5725: Transferable Vesting NFT standard is the result of careful consideration of what NFTs can and should be, as well as many rounds of real-world testing and iteration.

What is EIP-5725?

An Ethereum Improvement Proposal, or EIP, is a document used to recommend and describe standards for the Ethereum community. There are multiple types of EIPs, but EIP-5725 is a ERC (Ethereum Requests for Comments) proposal, meaning that it affects application-level standards and specifications.

The EIP that ApeSwap and Paladin have worked together to create is called EIP-5725: Transferable Vesting NFT. This EIP provides an interface for transferable vesting NFTs which release underlying tokens over time.

While time locks and vesting are both important mechanisms for controlling the distribution of ERC-20 tokens and have been around since the age of ICOs, the lack of standardization across the industry can be problematic. Without a standardized approach, it can be difficult for investors to understand how a particular token is being distributed and what the implications of that distribution might be.

How does EIP-5725 work?

EIP-5725 allows for the implementation of a standard API for NFT based contracts to allow two primary functionalities: transferability, and vesting.

Projects that implement EIP-5725 are able to use their NFTs to represent unvested tokens that belong to the holder of the NFT. In other words, this standard allows projects to either integrate with an existing NFT marketplace, or create their own, to be used as a secondary market for vesting tokens.

Also, using EIP-5725, projects can hold and represent the vested and locked properties of any underlying token (ERC-20 or otherwise) that is emitted to the NFT holder. This standard is an extension of the ERC-721 token that provides basic functionality for creating vesting NFTs, claiming the tokens and reading vesting curve properties.

Why is EIP-5725 important?

EIP-5725 allows projects to implement several new capabilities to create value for users and projects:

1. Transferability of vesting tokens: When using EIP-5725, vesting tokens are emitted to the holder of a transferable NFT, meaning that users can buy or sell the NFTs that represent unvested tokens. This secondary market offers users more flexibility around the underlying asset, as they can liquidate or trade it at any time.
2. Custom NFT art capabilities: EIP-5725 also allows projects to create custom NFT art based on a variety of underlying inputs. For example, projects can choose to include a limited edition seal or color scheme on NFTs of particular significance or value, which can then become one of the considerations when valuing the NFT on a secondary market.
3. Novel vesting curves: The vesting curves within EIP-5725 NFTs do not have to be linear — they are entirely customizable, and can have accelerating or decelerating vesting depending on the use case required by the project.
4. Aggregated, holistic views of vesting tokens and properties: The standard EIP-5725 API enables projects to create holistic dashboards and reporting tools that aggregate the status of their vesting NFTs across entire chains, which can help the project make more informed strategic decisions about future releases and marketing efforts.

How are projects using EIP-5725 right now?

ApeSwap has used the EIP-5725 standard to create a category of products called ApeSwap Bonds. ApeSwap Bonds allow crypto projects to create transferable NFTs that users purchase with liquidity provider tokens. Holders of the NFTs then receive tokens at a discount, which is set by a variety of factors, linearly over the course of a vesting period set by the project.

This approach is superior to the traditional yield farming model in that the capital that a project puts forth as discounted tokens generates a return in the form of project-owned liquidity, as opposed to rented liquidity where reward tokens spent generate no return for the project.

To date, ApeSwap has created $1M worth of protocol-owned liquidity for itself and over $1.5M worth of liquidity owned by its partners through the sale of ApeSwap Bonds.

Why should users educate themselves on EIP-5725?

ApeSwap and Paladin are excited to promote the EIP-5725 standard to the crypto community at large to enable users to take advantage of the many opportunities that it creates. Users who are interested should learn more about ApeSwap Bonds in the documentation and stay tuned for new Bonds partners and capabilities launching soon.

If you have a favorite crypto project that might be a good fit for Bonds, have them reach out to ApeSwap.

Additionally, users and project contributors are encouraged to add to the ongoing discussion at the Ethereum Magicians forum.