The growth of layer-two protocols has been one of the major stories of 2021 as the rising popularity of decentralized finance (DeFi) and nonfungible tokens (NFT) have driven transaction costs higher on the Ethereum (ETH) network effectively pricing out many participants. Earlier this year the Polygon network, formerly known as MATIC, emerged as one of the top contenders in the race for an effective Ethereum layer-2 scaling solution, and the project's QuickSwap DeFi platform was also one of the more successful Uniswap clones. The platform was quite popular initially but as other platforms like Arbitrum and Optimism popped up, discussions …

Blockchain technology and its associated cryptocurrencies were designed to make tools of the financial industry available to anyone with an internet connection. Like traditional banks, cryptocurrency assets offer all of the same products, including borrowing and lending, only in a decentralized format to reduce fees and discrimination. Since decentralized finance (DeFi) eliminates intermediaries from the equation, equal opportunities are given to billion-dollar companies and regular humans, and higher interest rates also prevail. In practice, most decentralized loans today are conducted through a lending pool. Traditionally, collateralized loans (also known as securities-based loans) use a valuable asset to help secure the …

On Oct. 15, news that a Bitcoin (BTC) exchange-traded fund (ETF) could start trading as early as next week sent Bitcoin price to $62,933 but the rally has cooled off since then. Some market participants believe that traders who bought the rumor of approval for a Bitcoin ETF product may sell on the news. Crypto trading firm QCP Capital said in an update that the approval of futures-based ETFs is unlikely to provide a long-term boost for Bitcoin prices similar to the one seen in the fourth quarter of 2020. While high volatility cannot be ruled out in the near …

Polygon (MATIC) has the potential to reach $3.50 by the end of this year as it charts a pattern that’s starting to resemble a bull flag. In detail, bull flags are bullish continuation patterns that emerge when the price consolidates following a strong move higher. In doing so, the price tends to trend lower while leaving behind a sequence of higher lows and lower lows. A breakout occurs when the price closes above the flag’s upper trendline (or resistance). In other words, the price can rise by as much as the height of the previous uptrend, also known as a …

2021 has been marked as the year for unprecedented growth in the nonfungible token (NFT) market. As the market has continued to mature, so has the demand for high-quality NFTs and a need for easier ways to buy, trade and earn income from digital assets. While large marketplaces have risen to support the collection of NFTs, little has been done to help creators kick-start their projects and take proper advantage of the world of decentralized finance (DeFi). As a result, many new creators face concerns around the lack of liquidity for in-game collectibles and difficulty engaging with their audience. To …

Without a doubt, nonfungible tokens (NFTs) have become one of the fastest-growing crazes in the world of cryptocurrency. With billions in revenue, the important question to ask is where the industry is headed next. Three words -- NFT-based games. In this modern online gaming take, players can collect their in-game assets and trade them within the game’s ecosystem. In a play-to-earn NFT game, users gain the chance to develop income streams since they are awarded tokens (and possible NFTs) the longer they play. These tokens are carefully incorporated into the game’s crafting process to be handed out at strategic times. …

Layer-two protocols have seen monumental growth this year, and in terms of active addresses, one such protocol has briefly surpassed the network for which it is a scaling solution. The number of daily active unique addresses on layer-two aggregator Polygon has surpassed those on the high-fee layer-one Ethereum according to Polygon co-founder Mihailo Bjelic. According to his stats, Polygon had 351,000 daily active addresses on Monday, whereas Ethereum had 326,000. Another huge milestone for @0xPolygon! We eclipsed Ethereum L1 in daily active addresses for the first time! This is just the beginning. We are working round the clock to improve …

Play-to-earn is the new king in the land of cryptocurrencies. Nonfungible token (NFT)-based gaming is poised to lead the way into the metaverse, and as more people spend time in the games, they are seeing real income opportunities. Blockchain Cuties Universe is one of the leading players in this space, and they have just launched Season 6 of their ever-evolving Cutieland. The game started its development in 2017. As an early entrant to the play-to-earn environment, they have grown a loyal community who follow them and harness the potential of play-to-earn by learning more about the in-game markets that present …

Blockchain technology brings a faster and more convenient way to conduct transactions over the internet — from retail to financials, even extending as far as online poker. As one of the most played online gambling games, poker has brought a rise in users, and in turn, an increasing number of fake websites, deterring new players from ever starting to play. While many argue that online poker is not rigged, many concerns have stemmed from the lesser-known sites. Regardless of the number of licenses or other approvals an online platform may have, many are still skeptical of things operating “completely right” …

Nonfungible tokens (NFTs) have taken the world by storm for their ability to allow content owners and other creators to monetize scarce images, videos or contracts for sizable amounts of money. However, they more recently have proven their ability to facilitate philanthropic actions to raise funds for noteworthy causes. NFTs offer opportunities for fundraising since they, unlike crypto, offer something more than monetary donations. Instead, they allow celebrities and other individuals to auction off digital creations, with the proceeds going to a charity of their choice. Tito Rodriguez is just one example of this use case put into action. Tito, …

Announced on Monday, Ernst & Young’s flagship blockchain services, including EY OpsChain and EY Blockchain Analyzer, will be integrated with Polygon, allowing transactions to be committed to Ethereum via the sidechain. EY emphasized that its enterprise clients will have access to increased transaction throughput with predictable fees and settlement times using Polygon. The firm also revealed it is working with Polygon to offer permissioned, private optimistic rollup chains. Rollups are a layer-two scaling solution that provides increased security and efficiency compared to transacting on the Ethereum mainnet. Paul Brody, global blockchain leader at EY, remarked: “Working with Polygon provides EY …

Optimism across the crypto market continues to rise as bullish developments in the price of Bitcoin (BTC) and Ethereum (ETH) renewed discussions about a 2013-style double-pump rally that could push Bitcoin's price past $100,000. The positive price action hasn’t been limited to the top two market leaders. Many altcoins continue to rally, and the "altseason" indicator from Cointelegraph Markets Pro is signaling that the momentum could continue for a while longer. Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24 hours were Presearch (PRE), Aragon (ANT) and IOTA (MIOTA). Presearch's Android app will …