The #blockchain writing contest is bought to you by Tatum and HackerNoon!
Cyberattacks are common in the online world that disrupt the entire online channels. Read precautionary measures to protect the crypto from cyberattacks.
Do you believe DAOs will be the evolution of early-stage startups?
get an overview of the erc721 token and how to go about creating one from scratch
Will the metaverse have negative effects? Like any other technology, despite any benefits it offers, it will likely have some downsides.
UniX Gaming is a community-focused platform that seeks to create a home for gamers in the metaverse.
Cryptography Interference With Blockchain
A smart contract is the heart of an NFT that powers it to do what it does. In this article series, we take an in-depth look at an NFT smart contract.
Previously, Filecoin officially announced that it would launch the Filecoin Virtual Machine (FVM) to introduce the programmability of smart contracts to the Filecoin network. In addition, FVM will be the first to be compatible with EVM (Ethereum Virtual Machine), so that Solidity developers can deploy smart contracts on Filecoin faster.
The same tech that can built dystopian futures can help support humans in real growth, education, equality, sense-making and wise decision making.
Blockchain Industry Leader Bitcoin.com Completes a Private Sale Round of USD 33,600,000 for its Native Token Verse.
Unfortunately, even though NFTs are relatively new, there’s already been an issue of hackers stealing non-fungible tokens. Here's a closer look.
Blockchain technology may save the planet, according to Irina Swan Lebedeva, Product Lead at Consensys
Cross-chain bridges may be growing in popularity, but their use poses significant risks to users.
The final results announcement of the Blockchain Writing Contest brought to you by HackerNoon and Tatum is here!
Consensus protocols are the core value of cryptocurrency and blockchain technology. Trust, Integrity and a secured network are an integral part of the algorithm
Cryptos and decentralization survive in a symbiotic relationship and have gathered enough economic momentum to transform how we spend and transact money.
A smart contract is a computer protocol intended to digitally facilitate, verify or enforce the performance of a contract. Know how it iexecutes in Hyperledger
In this post, we’ll look at five innovative Polkadot parachain projects.
2022 brings more forms of cryptocurrency with plenty of new coins taking advantage of blockchain projects. These are 6 crypto launchpads to keep track of.
What are the options for the best graphics cards for cryptocurrency mining? Here is a study.
On average, a blockchain developer gets paid anywhere from $150,000 per year up to $175,000 depending on their experience
Block.one held an initial coin offering (ICO) of EOS tokens (EOS) in 2018, releasing 900 million tokens for approximately $4 billion, making it the largest ICO.
Hey Hackers! The wait is over! Here we are with the results announcement for The Blockchain Writing Contest, March 2022.
How did we bypass the sweeper bot and saved $26K tokens in the Dark Forest of Blockchain ?
'Merge' is not a topic you get to see regularly, nor is it something people who buy Ethereum are too familiar with.
Permanent File Storage for Web3 Apps With Arweave, Bundlr, Next.js, RainbowKit, and Wagmi,
how to create a Dapp that allows us to store data on the Arweave net
In order for Web3 to proliferate, people need to understand the foundational infrastructure upon which it will be built and the infrastructure at the core of it
Rug pulls are a lucrative fraud in which developers create new crypto tokens and market them to investors to increase their value and overall liquidity.
How to write a smart contract NFT? Daml allows blockchain NFT smart contracts to interoperate with each other when deployed on multiple blockchains.
Hey Hackers! We are back again with the May results announcement for The Blockchain Writing Contest brought to you by HackerNoon and Tatum.
Learn the risks that Central bank digital currencies (CBDCs) pose to your monetary freedom and privacy.
A look at how blockchain gaming development is evolving for the better.
With a $4 billion market cap in 2022, and a daily trade volume of approx $150 million, here's how a non-technical person built the biggest DEX in the world.
Generally, rug pull projects are those crypto projects whose developers have put little effort into them.Then developer abandons the project with investor funds
Interview with QuickSwap’s co-founder Sameep Singhania about the motivations behind behind the project and how it can improve the user experience within DEXs.
What is the deal with NFTs anyway?
This is the first article in a series teaching Solidity. We will create a contract for two business partners that don''t trust
Elrond Network acquires Twispay and the approval to issue electronic money.
AI and blockchain technologies have been working side by side to protect users in cyberspaces.
The TAF ecosystem emerges in the DeFi space to bring unique benefits and terms to its users. Learn more about the project from the interview with its founder.
Why the term "spatiotemporal" does, in fact, apply to the metaverse and why that distinction helps it achieve everything that it is said to be able to achieve.
How to Bridge Tokens from Ethereum to Polygon with MetaMask
The article brings a variety of discussion points about the application of blockchain as well as the attractiveness of a new platform technology in the world.
Crypto Staking is one of the best ways of making a passive income but only if done correctly. Learn the 5 best coins to stake in 2022!
An article about where the idea of blockchain voting came from, its opponents and supporters, privacy and reliability, practical application based on LEO code.
It seems like every time a crazy new crypto trend comes out that looks like a pretty good investment, everyone’s always quick to call it a “rug pull”.
Measuring a Decentralized Organization's Transparency: A Proposed Framework to Develop a Flexible Standard
Checking out these top blockchain applications and use-cases to see how blockchain technology is revolutionizing industries.
What if you already have a token and you want to create a DAO using that token? Natacha shows us how to enable DAO governance for your existing token!
We dive into how you can market crypto the right way using social media, search and crypto ad networks with our own experiences trying to market products.
With new NFT collections on the way, let’s find out about the passive income model for this type of crypto assets. Is it limited to play-to-earn?
An article that both explains and compares Proof-of-Work (used by Bitcoin and Ethereum) and Proof-of-Stake (used by many other blockchains)
What will drive the next bull run? I believe it will be mass adoption of crypto driven by real-life utility.
How the blockchain may evolve in the future, with KYC in blockchain L1 and how it may affect TradFi and how its procedures may evolve through the future.
Spool is a DeFi platform for users to create diversified yield portfolios that automatically rebalance and seek the best-adjusted yield.
Multichain integrated with the RSK (Rootstock Platform) is the first Bitcoin sidechain to provide access to DeFi on Bitcoin.
After the hard work of writing your smart contract, what is next is to share it with the rest of the world by verifying it on Etherscan.
After two successful editions, Paris Blockchain Summit (PBS) returns on July 8, 2022 with its Mainstream edition!
The new protocol that has 3 blockchain in 1 like EOS, Monero and ZCash, with full compatible with other project and protocol like DeFi!
Web 1.0 was usually referred to as read-only web. Web 2.0 is referred as read write web. The web 3.0 concept aims to create a decentralized, secure, internet.
If you think the foundation of cryptocurrency began in 2008 with the Bitcoin creator Satoshi Nakamoto, you’re mistaken.
Blockchain and crypto startups are on the rise. What do you need to know before starting your own business in the space?
Cryptocurrencies and Web3 companies protect themselves from fraud by using a wide variety of consensus mechanisms. Lets understand their trade-offs.
In the last year, cross-chain bridges have been one of the hottest theses.
What Is Vesting Schedule?
Analog is a proof-of-time (PoT)-enabled, trustless omnichain interoperability network.
TLM is the native digital currency for the Alien Worlds metaverse and an ERC-20 token running on reduced inflation rates.
Cryptocurrency crowdselling is a form of crowdfunding within the digital realm of cryptocurrency.
This simple questionnaire summarises our 5+ years of experience in this field and will help your blockchain project to get started with tokenomics! You can see
The node provider market is crowded. New players have few opportunities: support long tailed assets, better UX, lower price.
AdaSwap, an infrastructure developer who will create one of the first DeFi protocols on the Cardano network, secured $2.6 million in a round lead by iAngels.
Staking is like the treasury of the crypto world. It offers low-risk yield and is the best strategy in the bear market. Here are must know rules before staking.
The new world is going to require a crypto friendly state with an international constitution to uphold digital and real world rights. It's happening right now.
Why are blockchain devs ignoring non-custodial cryptocurrency wallets? This is a huge injustice because of how it can affect the cryptocurrency ecosystem.
Learn how to build zero knowledge dapps, using zero knowledge proofs boilerplate. Build age verification dapp using zero knowledge proofs.
Create a new NFT collection, with custom Minting page, and Staking under 10 minutes.
Blockchain represents a complex technology with enough potential to revolutionize a wide range of industries.
In this post, we’ll take a look at Cronos, the Crypto.org blockchain platform that has developed solutions that aim to address scalability and interoperability.
Selfish mining is a scenario where a miner mines a new block but fails to publish it for other miners to see and add it to the chain of blocks on their ends.
A look into some of the issues with OpenSea, and some of the disruptors out there providing solutions
What are seed phrases? Do they matter to everyone, or only to a few crypto users?
In the past few years, the term blockchain has gotten a lot of attention from major media outlets and the public.
Finding a human-centric solution to the problems that most blockchains face when it comes to fair voting in its currently plutocratic and unequal form.
A practical guide on knowing when there is a massive amount of BTC is transferre over the network in near to real-time and take some automated actions from it.
Meta Hollywood has chosen SOMA Finance as the issuing partner for their upcoming digital securities ecosystem for tokenizing physical and digital assets.
MEV - When the most incentivize transactions are chosen to be processed first rather than on a first-come-first-serve basis. When a bride is paid to be process
Find the Length of Any String in Solidity.
How to create an anonymous voting system on the blockchain using zero-knowledge proofs
Hey Hackers! Here we are again with the results announcement for The Blockchain Writing Contest bought to you by HackerNoon and Tatum. Let’s see who won!
How games are implementing NFTs, and why the multibillion-dollar GameFi and blockchain gaming market has been named one of the top trends of 2022.
Independent staking is the gold standard of Ethereum staking. So today we investigate how to do it in 2way, simplifying validator and beacon nodes
Everything Crypto - In conversation with Viet Anh Tran elaborating on his journey in the crypto space and diving into the nuances of his product, Islander
Welcome to the Round 5 results announcement of Blockchain Writing Contest brought to you by HackerNoon and Tatum! Let’s see who won.
The article is about how you can use a crypto project to deliver high-quality video to the end consumer faster and cheaper.
Blосkсhаіn tесhnоlоgу іѕ оnе of thе lеаdіng іnnоvаtіоnѕ аnd hаѕ thе роtеntіаlѕ tо mаkе оur financial іnduѕtrу mоrе trаnѕраrеnt.
Get to know about the role of NFTs in the Metaverse, their connection, and how NFT works. The guide will also let you know about the Metaverse types.
Investors and business leaders are always drawn to the next big thing. While joining in on a project early is always exciting and may result in massive returns, there are still potential pitfalls to be aware of.
An exclusive interview by Léo Maurice from Kalima Blockchain on Internet of Things and blockchain. Adam Stieb exclusively for Hackernoon.
If there’s one thing that every crypto investor needs to have, it’s a crypto wallet. There are all kinds of different crypto wallets you can use.
Our list of blockchains that support NFTs will give you a head start on which is worth your NFT venture
Interoperability in the context of blockchains refers to a blockchain's capacity to freely exchange information with other blockchains which will be important.
Imagine a NFT that looks like a NFT but is not the same as a NFT: it is a NFT, it can be art, and it can carry a right for someone to do something.
NFT creators find themselves in the same position that many craftsmen do. They need to find fans and supporters to make the money needed to continue creating.
The worlds first truly decentralized gaming ecosystem.
Financial NFTs have the potential to reshape and vastly improve the financial landscape. Here we discuss the future of Financial NFTs in DeFi and trade finance.
Interview with Joey Poareo, co-founder at InuYasha, a decentralized incubator accelerator fund that uses uses DAO governance to speed up crypto projects.
Is blockchain technology compatible with data privacy when used in a corporate setting? What needs to change about it to make it perfectly compliant with it?
Proof of Stake (PoS) consensus is opening the doors to crypto investors looking to increase their profits. With PoS, they no longer need to have the best hardware and expend massive amounts of energy to compete against other miners to be the fastest to validate a block. With PoS, investors can simply stake some of their crypto for the chance to be chosen to validate a block and gain returns for doing so.
There’s a lot of buzz around non-fungible tokens (NFTs), especially in the last year and even recently. Hundreds of — maybe thousands — projects and marketplaces are initiated across the world every new day. Even though Ethereum remains the major blockchain network for minting NFTs, new blockchains are popping up for the same purpose.
Intel's new pro-mining ASIC chipset—Blockscale—isn't just efficient. It has the future of crypto adoption in mind and Intel is in the space for the long haul.
DeFiChain token ‘DFI’ will start trading against USDT on Huobi on 25th July at 6:00 UTC.
Welcome to the #Blockchain Writing Contest hosted by HackerNoon in partnership with Tatum.
Blockchain technology and online gaming are a match made in heaven. Period! But, in their current state, blockchains seem to have a bit of a problem.
A project should have a Multi-Chain approach from the beginning, so continuous improvement and adding new blockchains will be much simpler.
This is the era of modernization and digital transformation and no sector is immune to the technological changes that are sweeping the world.
When dabbling in financial technology or NFT investments, it is wise to understand fungibility and non-fungibility, here's an unbiased overview and breakdown
Metaverse is a decentralized platform that enables you to create, manage and use digital assets. Here's why it matters for virtual reality.
OpenSea standout alone with its performance and updated techs in its platform in that way now OpeSea again comes up with new multi-chain concept with Solana
In this article, we will explore how the blockchain helps cryptocurrencies work with both the architecture and how currencies are mined for transactions.
Blockchains aren't untouchable; they can and have been attacked in the past. Some blockchain attacks include a 51% attack and a 34% attack.
Blockchain technology is perpetually becoming a game-changer for most enthusiasts. It came to the limelight with the advent of cryptocurrency.
Acala is working with Anchor, a savings and borrowing protocol founded on the Terra blockchain, to extend the decentralised stablecoin market.
Tokenization is a term that's constantly thrown around but the different standards that exist may not be as well understood. These are the basic standards.
Mastering how to create, read, update, and delete records from the blockchain is a skill you must understand. Yes, you can delete stuff from the blockchain...
All of these point to the transformation of the blockchain landscape, which should boost the use of this technological concept across the board.
The Wasted Lands is a play-to-earn (p2e) strategy game with a puzzle based, match-3 combat system.
El Salvador's crypto bonds sale is not popular yet. Other countries are not likely to follow. But it's worth recognising the mainstreamness of the approach.
The Substrate blockchain framework has made substantial progress in the development of the Web3 Gaming Blockchain with ParaState.
Creator marketing has become a booming creator industry in recent years. However here is how social tokens will change the world of influencer marketing forever
Realizing the metaverse dream will transform the Internet into a massive, interoperable virtual realm.
To call Proof of Stake a savior is a stretch. To call Proof a Stake a stopgap…perhaps. To call Proof of Stake something new is simply not true.
HackerNoon is proud to be a media partner for this year's Paris Blockchain Summit
An eclipse attack can be regarded as a subjective and lesser blockchain attack where a particular node is isolated within the P2P network for such an attack.
Cryptocurrency, transferred through the blockchain, has been used for all kinds of illegal online transactions, including drug sales and terrorist activity.
NFT Creator ART101 puts community over profits, refunding entire community and making collection free-to-mint.
A look at Metabloqs, a Metaverse project that aims to build a realistic virtual world.
With the growing popularity of blockchain technology in recent years, there is a significant need for knowledgeable developers who can deal with this technology
Everything you need to know about cross-chain bridges
Curious about the history of cryptocurrency? Covering Blockchain as early as 1991, we've outlined the history of digital assets in this unbiased fintech review
Learn about Ethereum Archive Nodes then build a simple React project to see how to access historical blockchain data using an Infura RPC endpoint
With programmable money, we can program our values into our money to fund, sustain, and thrive public goods.
What is decentralized cloud storage? And why even use it at all?
An in-depth look at the world of layer 2 scaling solutions.
Liquid Network is a layer-2 solution that offers fast, confidential, and cheap Bitcoin transactions for retail and institutional investors.
In May 2022, the unexpected happened. $LUNA deprecated in value by up to 99%. Find out why LUNA crashed and the impact of the crash in the crypto world.
As a beginner, it is difficult to choose the right framework or tool for your project. And ofcourse, choosing the framework is a crucial step.
The Potion Unlock game is a social experiment to bootstrap a decentralized community around a DeFi protocol
Decentralized finance (DeFi) is democratizing finance by replacing outdated institutions and legacy infrastructure with peer-to-peer networks.
The Cronos Accelerator Program is designed to enable early-stage crypto companies looking for mentoring, investment, and growth to get the aid they need.
The Potion Unlock NFTs have been meticulously designed based on the principles of data visualization.
Blockchains can facilitate more efficient, secure, and dependable automated communication. This will significantly improve the security and dependability of our
A one-shot NFT adventure game where winner takes it all using an ETH prize pool for the players to fight over in a pirate-themed game about fighting others.
Why Merging Blockchain with the Supply Chain Is Good
Detailed guide to the world of nft collections from idea to realization. It's useful for all beginners how to create your own collection and not to miscalculate
Why ENS domains can provide practical benefits when designing software that works on blockchain, especially from a security standpoint dependent on Ethereum.
Top 3 Emerging Metaverse, NFT Trends To Look Out For
CENTI argues that PoW scales better, has future proof compliance compatibility and over 10 year track record of security through applied game theory.
Let’s look briefly at 3 interesting farming projects providing convenient interfaces and profitable conditions for farming.
Bitcoin is a money technology, the first drastic change since the creation of banking over 900 years ago.
A detailed guide on how to use an hardware wallet to protect our crypto and tokens
The article explores how blockchain helps the sex industry fight stereotypes and bias, add transparency, and ensure sustainability and safety.
In this tutorial and the subsequent ones, I will be journeying you through the world of web3.0 development starting with how to build your first smart contract
DAOs are gaining popularity in the crypto industry. Now, a growing chorus of observers is wondering when they'll jump into the realm of corporate governance.
Transparency with how charitable organizations spend their income is a point of concern for people who donate to these organizations.
There are still considerable barriers to entry for the crypto market. But these hurdles are rapidly being surmounted.
This is how blockchain tech and bitcoin can be the future change you'd like to see in the world today
In this article, I modeled how to visualize codes, and also visually told you how developers or hackers read these codes.
There is an anarcho-capitalist lurking in the shadows of the Argentine presidency. He is responsible for occupying the first position in opinion polls.
Every industry needs marketing for proper functioning, whether privately or publicly owned.
In order to guarantee the adoption in the Blockchain space, the West must not ignore the role the emerging markets like African Countries have to play.
A quick rundown of what kinds of features and trends need to be considered before a DeFi or crypto project is safe for investing into such as wallet types.
DabbaFlow, an end-to-end encrypted file-sharing platform developed by Fetch.ai, a Cambridge-based artificial intelligence lab, was launched recently.
Raising capital is crucial for any startup, regardless of overarching market conditions.
Get to know the top 5 DeFi development companies to have complete insight into developing your very own digital business in the decentralized space.
Learn how to connect a self-hosted SuperTokens core to a database with or without Docker
NFT Summit Istanbul 2022, organized by Meta Venture Fund, will take place on May 28- 29 at the Lütfi Kırdar Convention and Exhibition Center.
Investment DAOs are a new kind of partnership in blockchain. This article reviews the types of investment DAOs and what approach each one takes to invest
Write, test and deploy an NFT with Foundry and Figment Datahub.
The Ethereum Virtual Machine powers decentralized, censorship-resistant applications running on the Ethereum protocol.
How the emergence of Decentralized API (DAPI) and blockchain oracle is revolutionizing the off-chain and on-chain data transmission
The Blockchain Writing Contest brought to you by HackerNoon and Tatum presents you with June 2022’s nominees and winners!
Miner extractable value vs Maximal extractable value
Learn some basic blockchain concepts in a short story that takes you through the ancient world of Yap where a remote island builds the first ever blockchain.
What makes the NFTs non-exchangeable and irreplaceable is the Token part of the NFT. NFT stands for Non-fungible Token.
The most important words in cryptocurrency enthusiasts' and newbies' need to familiarize themselves with.
A digital platform that rewards and is owned by its users will benefit from infinite network effects and scale like no others.
Our solution is to provide businesses with a service registry infrastructure that allows them to write their networks' configuration data onto the blockchain.
Today we’re announcing cross-chain zaps integration into the Symbiosis protocol.
Here are some well-respected conferences, journals, summits, and workshops in the blockchain space.
Fan Tokens are cryptocurrency tokens that give fans access to a range of exclusive membership perks, rewards, merchandise, and unique experiences.
As the Lead Business Development Manager and Co-Founder of the blockchain growth promoter and business facilitator called Platinum, I feel it my duty to educate the public on the industry’s hottest topics.
Victor Smirnov is co-founder of Humanode, which is changing the power structure of the crypto space. He says that the true adoption of blockchain is possible.
Looking back at the exciting ETHDenver Festival and the incredible community that the event brought together. Reflecting on the interviews and developments.
Wiki is not perfect. I present to you the description of Aleo/wiki. With Wikipedia experience, I have sincerely tried to get rid of the biggest bugs.
The Proof of Stake versus Proof of Work debate will affect how cryptocurrencies move forward.
The protocol that allows users to transact directly with the smart contract is none other than the Automated Market Maker— AMM.
With the Crypto Market crashed, now's a good time to refresh yourself on small facts about the space while it recovers and stabilises in the meanwhile.
Foreseeing and preventing user errors is a good and time-honored staple of UX design. Should blockchain defy that?
The environmental impact of the blockchain is not to be underestimated. Finding a way to make it more sustainable is an important task that needs to be done.
What is this blockchain that everyone is talking about? And what does it have to do with cryptocurrency?
In March 2022, Joe Biden officially asked the Federal Reserve (FED) to urgently begin developing plans for a U.S. Central Bank Digital Currency (CBDC), or a so-called ‘digital dollar’. The US government is now starting to recognize the latent possibilities of the burgeoning digital asset market and hopes to use this technology to create a CBDC that will “preserve the dominant role of the U.S. dollar.” But what is a CBDC? How does it relate to cryptocurrency, and what are the latest developments in the great CBDC experiment?
Adi Shamir’s Secret Sharing is a cryptographic algorithm that allows distinct parties to jointly share ownership of a single secret by holding shares
Unizen’s smart exchange aims to address these flaws by merging a centralized (CEX) and decentralized (DEX) architecture, dubbed 'CeDeFi' by the crypto community
A better alternative being proposed in many research papers is using biometrics to allow access. Crypto-Biometrics is a combination of mathematics, cybersecurit
How to create a wallet using Tatum to connect to blockchain APIs. This one is made with the Algorand network integrated into the wallet from the start.
To start an NFT project with high frequency and low value transactions, Polygon is the ideal blockchain to use as compared to Ethereum.
Here are the top 10 providers of smart contract auditing to consider in 2022.
The crypto collapse of 2022 is a wake-up call for an urgent need for harmonised crypto regulations on a global level. We can't pretend otherwise.
Seeking a blockchain developer? Or looking for blockchain development company for your next BIG idea with experience and expertise? Here's my research and compa
Jason is the CEO and founder of Portion, a 21st-century auction house for rare, high-end NFT art, music, and collectibles. We interviewed Jason.
SHA-2 (Secure Hash Algorithm 2), of which SHA-256 is a part, is one of the most popular hash algorithms around.
Elon Musk, the founder of Tesla and SpaceX, has just announced his latest venture: buying Twitter. This move comes no surprise to many Musk is known game change
Understand Olympus DAO and its Ohm content in 11 simple and easy steps.
In this slogging thread, we're joined by the founders of Heliax, a blockchain research, development & product company bringing financial sovereignty and privacy
This article gives an overview of the past and present NFT space. It also gives thought into the future of the Metaverse and specifically Wilder World.
Understanding the Potential of Female Founders in Blockchain.
Cryptocurrency Investment Process - Make investment decisions using this 8 step framework | Strategy | Portfolio Impact | Valuation |Exit Strategy |Evaluation
The crypto market has always been considered a decentralised and independent alternative when compared to traditional financial structures. However, recent events have shown that even digital assets are not always immune to geopolitical changes. A number of crypto giants have already chosen to support newly announced sanctions against Russian users, and there is no way of telling what will happen next. Let's examine the main ways investors can protect their capital in this nervous market.
Investment Research Report for the Trader Joe ($JOE) decentralized finance platform on the Avalanche blockchain. Crypto / NFT Valuation and Tokenomics Analysis
An introduction to the blockchain, explained with blocks to make the complicated topic a little easier to understand for readers less familiar with it.
Distributed ledger technology, including blockchain, is an emerging technology that can compete with traditional business models. Their models rely on slow and costly third parties to build trust between two parties who do not believe each other. However, to make the process easy, instant, and cheap, distributed ledger technologies have led to the concept of cryptocurrency that will eradicate the need for intermediaries.
Nexo and CakeDeFi provide crypto lending and earning product which allows users to earn Annual Percentage Yield (APY) by lending their crypto assets.
Let's look at SWEAT Economy and its ecosystem that comes into play with crypto users who want to keep themselves active.
To evaluate a potential central bank digital currency, the Board of Governors of the Federal Reserve System published a document in January 2022 titled Money and Payments: The U.S. Dollar in the Age of Digital Transformation. The paper purports to summarize the current state of domestic payments systems, and further discuss the different types of digital payment methods and assets that have emerged in recent years, including stablecoins and other cryptocurrencies. The authors have requested feedback via an online form that poses more than twenty-two questions due by May 20th, 2022. Since meaningful responses require more than the five-thousand characters allowed by the twenty field response form - and some sections actually contain more than one question, we are publishing thoughts and observations on it here instead, while further addressing some of the shortfalls in the framing and positioning of the paper, and consequent request for comment.
A new generation of blockchains has targeted solving the interoperability problem once and for all. Let’s see how they do it!
Blockchain gaming has come a long way since Huntercoin debuted in 2014. Since then, developers - primarily blockchain developers, not game developers - have been experimenting with how to mix gameplay with tokenomics. From a technical perspective, the innovation that is blockchain seems poised to enable the next version of the web. However, its application to games has been mixed at best. Primitive gameplay, low production values, and shallow narratives has been the norm for most blockchain games to date.It wasn’t until CryptoKitties launched in 2017 that a blockchain game had any success in finding an audience. But when it did, the impact was jaw dropping. The game caused massive congestion on the layer 1 Ethereum network, leaving many developers skeptical of blockchain’s capacity to facilitate the kind of quality, technologically seamless experience that players are accustomed to and expect. Despite the challenges, the industry has seen improvements in recent years as layer 2 networks and better interoperability are facilitating a greater depth of gameplay. While early game structures depended predominantly on randomized chance for players to earn rewards, designs have advanced such that rewards now come predominantly from gameplay, providing much more engaging experiences. Fuelled by ongoing innovation and the explosion in popularity of play-to-earn games like Axie Infinity, the blockchain gaming industry grew by a staggering 765% in 2021 versus the previous year. Metaverse spaces like Decentraland, The Sandbox, and Somnium Space are also making waves as they redefine the creative and economic boundaries of how players can engage with virtual worlds. Irrespective of the growing market, there’s no hiding from the fact that traditional players are extremely resistant to blockchain in gaming. Major publishers that have recently announced their intentions to integrate NFTs into new and existing games have faced vociferous pushback from gamers who do not see any tangible benefits of the technology. Instead, they argue that NFTs are simply a scheme to charge more for in-game purchases. The introduction of free-to-play microtransactions - purchases that unlock specific features or give players unique abilities, characters, or content - has left many gamers feeling taken advantage of. It’s little wonder players are suspicious of blockchain’s utility.It’s more interesting to think of blockchain as a collection of composable microservices that provide novel player experiences, rather than a provenance technology that gets crammed into a game without first considering how it can be used to enhance what’s already great about that game. Gamers don’t fire up a session to explore a new financial infrastructure; we want an adventure where we transcend the real world and perhaps embody a totally new persona. In order to build player trust, studios need to focus on amplifying what players already enjoy. When implemented effectively, blockchain offers a system of services that can enhance gameplay and utility. The common thread that interlinks these services is player empowerment. Whether that's the ability to trade or sell their in-game purchases or having a vote on a game’s governance and feature roadmap. By minting items, XP, and avatars, players ensure transparent verification and traceability of their assets, increasing trust in the process of exchange and providing a way for players and creators to be rewarded for user generated content. On the governance side, DAOs and other voting mechanisms can be integrated into game infrastructures to increase player involvement in the design of the games they invest so much time in. Where players have previously felt excluded from the direction and development of a franchise, blockchain democratizes the process, making it possible for players to design, develop, and remold games based on their experiences. It’s a little scary, empowering players to this degree, but it’s really just an extension of the feedback loop developers already employ in games-as-a-service. Where a few studio execs have previously driven innovation, updating gaming infrastructure in this way can enable the real time integration of players into the creative process. After all, we’re not designing our game; we’re designing their game. Blockchain has obvious potential, but we have to address player objections before it can evolve much further. The low production values and shallow gameplay of the few blockchain games in the market has made traditional gamers suspicious of the technology’s capabilities to produce the kind of games they know and love. We have yet to see a AAA game that prioritizes gameplay, rich graphics, and compelling narratives, while backending its infrastructure with blockchain technology to empower players and create new experiences. It’s a tall ask, but we’ve been here before. It’s easy to forget that the shift from premium to free-to-play was just as contentious.
Everyone is talking about blockchain technology. Find out how the blockchain wave has taken over multiple industries and why.
The young do not know enough to be prudent, and therefore they attempt the impossible — and achieve it, generation after generation. — Pearl S. Buck
Collins English Dictionary chose NFT as the Word of the Year in 2021. It is hardly a surprise: trading volumes of non-fungible tokens surged from $100 million in 2020 to $23 billion in 2021, according to DappRadar. The fastest-growing sector of NFTs is blockchain games. This growth was catalysed by the massive inflow of users into GameFi — a new niche at the nexus of financial services and gaming in which a gamer gets opportunities to earn real money in-game. An opportunity that was not previously available, in comparison with the chance just to have a good time.
