Metriportis in the Healthcare IT Industry

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I'm speaking with LAN, the Co-founder and Chief Operating Officer of BIT Exchange. Today, we delve into their personal blockchain journey and explore the strategic decisions behind introducing new trading markets and innovating and adapting to stay ahead in the rapidly changing crypto space. Please tell us about yourself and what you do at BIT Exchange I’m the Co-founder & Chief Operating Officer at BIT and have previously worked at Bitmain and Matrixport. I joined Bitmain in 2018. When Bitmain launched Matrixport in 2019, I joined Matrixport as part of the founding team. I served as the product leader of the trading department, where I helped design the first structured digital currency product for dual-currency wealth management. Matrixport initiated BIT in November 2019 and launched it in August 2020. As a co-founder of BIT, I now lead its strategic direction, encompassing business growth, product development, and operations. Can you explain the decision-making process that led BIT Exchange to introduce new trading markets? BIT Exchange is constantly exploring opportunities to expand our offerings and provide diverse investment options for our users. Our decision to introduce new trading markets, such as the one for EigenLayer Points (ELP), comes from our commitment to pioneering innovation in the crypto space and ensuring broader access to the growing crypto economy for both retail and institutional investors. The crypto market evolves fast, from ICO to IEO, to IDO. People fight for whitelists, staking opportunities, and early minting opportunities in inscription space. As a centralized exchange, we need to start building infrastructure for the next asset issuance trend. Just like how exchanges built launchpads in 2020, we need to build the infrastructure for Pre-market listing now, which we believe will see increased demand. How do you assess the interest from both retail and institutional investors? Interest from Retail and Institutional often goes hand in hand. Retail looks at institutional portfolios, and institutional looks at on-chain wallet numbers as a benchmark for retail popularity. We've observed significant interest from both retail and institutional investors in emerging protocols like EigenLayer. Retail investors are drawn to the potential for earning rewards by participating in new projects early on, while institutional players are increasingly recognizing the value of diversifying their portfolios with exposure to new and cutting-edge DeFi applications. Can you describe BIT Exchange's approach to identifying and launching new trading markets? What criteria do you use to determine which markets to enter? BIT Exchange adopts a proactive approach to identifying and launching new trading markets. We closely monitor market trends, engage with our user community to understand their preferences, and collaborate with leading projects to bring exciting opportunities to our platform. Our criteria for entering new markets are multifaceted, focusing on factors such as project innovation, market demand, user engagement, and regulatory compliance. We prioritize projects with strong fundamentals and the potential to drive meaningful value for our users. Are you bullish on EigenLayer? If so, why? We are indeed bullish on EigenLayer due to its groundbreaking approach to re-staking and enhancing network security within the Ethereum ecosystem. EigenLayer's ability to attract over $12 billion in total value locked demonstrates its traction and future potential for reshaping the DeFi landscape. Can you describe the decisions that led BIT to launch the EigenLayer Points (ELP) market? The decision to launch the EigenLayer Points (ELP) market aligns with our mission to provide early access to promising projects for our user base. By offering trading for ELP ahead of the token generation event, we enable our users to participate in the EigenLayer ecosystem early on. There are many pre-listing opportunities however we also need to identify trusted partners who are selling these points. It is a long due diligence process to investigate which are the popular points that are reliable and who would like to sell in the pre-market. Could you explain the significance of launching the EigenLayer Points market on BIT Exchange? What opportunities does this provide for early adopters? Opening the EigenLayer Points market on BIT Exchange is a big step forward. We're the first exchange to do it, showing we're leading the pack in making new crypto opportunities available to more people. This provides them with a head start in engaging with a promising protocol and potentially benefiting from its growth. What are some operational challenges involved in being the first centralized exchange to offer a new product like EigenLayer Points? Being the first centralized exchange to offer a product like EigenLayer Points comes with operational challenges such as ensuring reliable security measures and sufficient liquidity, keeping trading fees at competitive levels, and educating users about the new market. However, we are committed to overcoming these challenges to provide a seamless trading experience for our users. With the upcoming EigenLayer airdrop being highly anticipated, how is BIT preparing to support its users through this event? As the EigenLayer airdrop approaches, BIT Exchange is actively preparing to support our users through this event by providing relevant information, facilitating trading, and ensuring the smooth distribution of airdropped tokens to eligible holders. It is mostly bookkeeping work, when the token is airdropped, we need to understand the airdrop rules, and conversion rate. The token would be in the Exchange wallet and then distributed to users’ accounts according to their points portfolio. Can you discuss any recent upgrades or innovations in BIT’s trading platform that have been particularly impactful? Recently, BIT Exchange has made significant upgrades to our trading platform, particularly in the BRC-20 sector. We've empowered our users with the ability to drive new BRC-20 listings through organic community in-app votes, building a more inclusive and community-driven environment. Are there any industry trends or technologies that BIT is particularly focused on to stay ahead of the competition? We're also focused on staying ahead of the competition by embracing more crypto-native features such as staking. Back in Feb 2024, we began offering staking services for projects like Merlin Chain, for example, enabling our users to participate in that particular airdrop while earning rewards and contributing to the growth of the Merlin ecosystem. Looking ahead, what new types of tokens is BIT Exchange considering? Looking ahead, BIT Exchange is considering listing new types of tokens with a strong focus on our community-led approach. We listen to our users and give them a say in what gets listed on our platform. This way, we ensure that we're offering assets that truly resonate with our community's interests. I'm speaking with LAN, the Co-founder and Chief Operating Officer of BIT Exchange. Today, we delve into their personal blockchain journey and explore the strategic decisions behind introducing new trading markets and innovating and adapting to stay ahead in the rapidly changing crypto space. Please tell us about yourself and what you do at BIT Exchange Please tell us about yourself and what you do at BIT Exchange I’m the Co-founder & Chief Operating Officer at BIT and have previously worked at Bitmain and Matrixport. I joined Bitmain in 2018. When Bitmain launched Matrixport in 2019, I joined Matrixport as part of the founding team. I served as the product leader of the trading department, where I helped design the first structured digital currency product for dual-currency wealth management. Matrixport initiated BIT in November 2019 and launched it in August 2020. As a co-founder of BIT, I now lead its strategic direction, encompassing business growth, product development, and operations. Can you explain the decision-making process that led BIT Exchange to introduce new trading markets? Can you explain the decision-making process that led BIT Exchange to introduce new trading markets? BIT Exchange is constantly exploring opportunities to expand our offerings and provide diverse investment options for our users. Our decision to introduce new trading markets, such as the one for EigenLayer Points (ELP), comes from our commitment to pioneering innovation in the crypto space and ensuring broader access to the growing crypto economy for both retail and institutional investors. The crypto market evolves fast, from ICO to IEO, to IDO. People fight for whitelists, staking opportunities, and early minting opportunities in inscription space. As a centralized exchange, we need to start building infrastructure for the next asset issuance trend. Just like how exchanges built launchpads in 2020, we need to build the infrastructure for Pre-market listing now, which we believe will see increased demand. How do you assess the interest from both retail and institutional investors? How do you assess the interest from both retail and institutional investors? Interest from Retail and Institutional often goes hand in hand. Retail looks at institutional portfolios, and institutional looks at on-chain wallet numbers as a benchmark for retail popularity. We've observed significant interest from both retail and institutional investors in emerging protocols like EigenLayer. Retail investors are drawn to the potential for earning rewards by participating in new projects early on, while institutional players are increasingly recognizing the value of diversifying their portfolios with exposure to new and cutting-edge DeFi applications. Can you describe BIT Exchange's approach to identifying and launching new trading markets? What criteria do you use to determine which markets to enter? Can you describe BIT Exchange's approach to identifying and launching new trading markets? What criteria do you use to determine which markets to enter? BIT Exchange adopts a proactive approach to identifying and launching new trading markets. We closely monitor market trends, engage with our user community to understand their preferences, and collaborate with leading projects to bring exciting opportunities to our platform. Our criteria for entering new markets are multifaceted, focusing on factors such as project innovation, market demand, user engagement, and regulatory compliance. We prioritize projects with strong fundamentals and the potential to drive meaningful value for our users. Are you bullish on EigenLayer? If so, why? Are you bullish on EigenLayer? If so, why? We are indeed bullish on EigenLayer due to its groundbreaking approach to re-staking and enhancing network security within the Ethereum ecosystem. EigenLayer's ability to attract over $12 billion in total value locked demonstrates its traction and future potential for reshaping the DeFi landscape. Can you describe the decisions that led BIT to launch the EigenLayer Points (ELP) market? Can you describe the decisions that led BIT to launch the EigenLayer Points (ELP) market? The decision to launch the EigenLayer Points (ELP) market aligns with our mission to provide early access to promising projects for our user base. By offering trading for ELP ahead of the token generation event, we enable our users to participate in the EigenLayer ecosystem early on. There are many pre-listing opportunities however we also need to identify trusted partners who are selling these points. It is a long due diligence process to investigate which are the popular points that are reliable and who would like to sell in the pre-market. Could you explain the significance of launching the EigenLayer Points market on BIT Exchange? What opportunities does this provide for early adopters? Could you explain the significance of launching the EigenLayer Points market on BIT Exchange? What opportunities does this provide for early adopters? Opening the EigenLayer Points market on BIT Exchange is a big step forward. We're the first exchange to do it, showing we're leading the pack in making new crypto opportunities available to more people. This provides them with a head start in engaging with a promising protocol and potentially benefiting from its growth. What are some operational challenges involved in being the first centralized exchange to offer a new product like EigenLayer Points? What are some operational challenges involved in being the first centralized exchange to offer a new product like EigenLayer Points? Being the first centralized exchange to offer a product like EigenLayer Points comes with operational challenges such as ensuring reliable security measures and sufficient liquidity, keeping trading fees at competitive levels, and educating users about the new market. However, we are committed to overcoming these challenges to provide a seamless trading experience for our users. With the upcoming EigenLayer airdrop being highly anticipated, how is BIT preparing to support its users through this event? With the upcoming EigenLayer airdrop being highly anticipated, how is BIT preparing to support its users through this event? As the EigenLayer airdrop approaches, BIT Exchange is actively preparing to support our users through this event by providing relevant information, facilitating trading, and ensuring the smooth distribution of airdropped tokens to eligible holders. It is mostly bookkeeping work, when the token is airdropped, we need to understand the airdrop rules, and conversion rate. The token would be in the Exchange wallet and then distributed to users’ accounts according to their points portfolio. Can you discuss any recent upgrades or innovations in BIT’s trading platform that have been particularly impactful? Can you discuss any recent upgrades or innovations in BIT’s trading platform that have been particularly impactful? Recently, BIT Exchange has made significant upgrades to our trading platform, particularly in the BRC-20 sector. We've empowered our users with the ability to drive new BRC-20 listings through organic community in-app votes, building a more inclusive and community-driven environment. Are there any industry trends or technologies that BIT is particularly focused on to stay ahead of the competition? Are there any industry trends or technologies that BIT is particularly focused on to stay ahead of the competition? We're also focused on staying ahead of the competition by embracing more crypto-native features such as staking. Back in Feb 2024, we began offering staking services for projects like Merlin Chain, for example, enabling our users to participate in that particular airdrop while earning rewards and contributing to the growth of the Merlin ecosystem. Looking ahead, what new types of tokens is BIT Exchange considering? Looking ahead, what new types of tokens is BIT Exchange considering? Looking ahead, BIT Exchange is considering listing new types of tokens with a strong focus on our community-led approach. We listen to our users and give them a say in what gets listed on our platform. This way, we ensure that we're offering assets that truly resonate with our community's interests.

Innovation and Accessibility to New Trading Markets

Orbiter Finance, a pioneering force in the blockchain industry, is making headlines with the introduction of Vizing, an innovative zero-knowledge proof (ZK)-powered Ethereum layer 2 (L2) network. Orbiter Finance has captured the attention of over 3 million users with its cross-chain bridge, facilitating asset swaps across various Layer-2 networks. Strategic Support from Esteemed Backers Building on the momentum gained from its successful 2022 seed round, which attracted investments from distinguished backers like Tiger Global Management and Matrixport, Orbiter Finance now secures strategic support from OKX Ventures. This endorsement underscores the growing confidence in Orbiter Finance's vision and technological capabilities. A ZK Proof Powerhouse Heralds the END GAME for Scaling Vizing leverages Orbiter Finance's expertise in zero-knowledge proof technology to address Ethereum's scalability challenges while enhancing security. With its deep understanding of ZK-powered solutions, Orbiter Finance is poised to usher in a new era of efficiency and reliability for Ethereum users. Expanding Reach with Orbiter Vizing Orbiter Finance is set to diversify its portfolio by introducing Orbiter Vizing, a groundbreaking zero-knowledge proof powered "meta-layer." This innovative addition aims to provide users with enhanced capabilities and streamline their experience within the Ethereum ecosystem. By incorporating Orbiter Vizing into its suite of solutions, Orbiter Finance is poised to further elevate its status in the blockchain space and offer users unparalleled access to advanced technologies. An "Omni-connection" Future Envisioned Central to is the concept of an "omni-connection" future. With Vizing, Orbiter Finance seeks to simplify the process of transferring assets and data across all Layer-2 networks, providing users with a seamless experience. By offering a unified interface, Vizing unlocks new opportunities for collaboration and innovation within the Ethereum ecosystem. Orbiter Finance's mission Orbiter Releases Token Launch Plans: Anticipating a significant milestone, Orbiter Finance has announced plans for a token launch in 2024. The tokenomics and distribution strategy will be gradually unveiled throughout the year, offering users a comprehensive ecosystem that goes beyond Orbiter Bridge and Vizing. This token will play a vital role in governance, incentivization, and value transfer within the Orbiter Finance ecosystem. Orbiter Finance's introduction of Vizing marks a significant step forward in Ethereum's evolution. , Orbiter Finance is well-positioned to lead the charge towards a more scalable and interconnected blockchain infrastructure. As Orbiter Finance continues to unveil its plans for Vizing, the future of decentralized finance looks increasingly promising. Stay tuned for more updates as Orbiter Finance reshapes the landscape of blockchain technology. With OKX Ventures' backing This story was distributed as a release by ZEX MEDIA under HackerNoon’s Brand As An Author Program. Learn more about the program . here

Orbiter Finance Unveils Vizing: A Game-Changing ZK-Powered Ethereum Layer 2 Network

অরবিটার ফাইন্যান্স ভাইজিং উন্মোচন করেছে: একটি গেম-চেঞ্জিং ZK-চালিত ইথেরিয়াম লেয়ার 2 নেটওয়ার্ক

Orbiter Finance stellt Vizing vor: Ein bahnbrechendes ZK-basiertes Ethereum Layer 2-Netzwerk

Orbiter Finance presenta Vizing: una innovadora red Ethereum Layer 2 impulsada por ZK

Orbiter Finance dévoile Vizing : un réseau Ethereum Layer 2 révolutionnaire alimenté par ZK

ऑर्बिटर फाइनेंस ने विज़िंग का अनावरण किया: एक गेम-चेंजिंग ZK-पावर्ड एथेरियम लेयर 2 नेटवर्क

Orbiter Finance が Vizing を発表: 革新的な ZK 搭載イーサリアム レイヤ 2 ネットワーク

Orbiter Finance, Vizing 공개: 판도를 바꾸는 ZK 기반 Ethereum 레이어 2 네트워크

Orbiter Finance revela Vizing: uma rede Ethereum Layer 2 revolucionária alimentada por ZK

Orbiter Finance представляет Vizing: революционную сеть Ethereum Layer 2 на базе ZK

Orbiter Finance, Vizing'i Tanıtıyor: Oyunun Kurallarını Değiştiren ZK Destekli Ethereum Katman 2 Ağı

Orbiter Finance tiết lộ Vizing: Mạng Ethereum lớp 2 được hỗ trợ bởi ZK có thể thay đổi trò chơi

Orbiter Finance 推出 Vizing：改变游戏规则、由 ZK 驱动的以太坊第 2 层网络

On-chain asset tokenization represents a long-term trend with the potential to shake up the existing financial landscape. Within this arena, tokenized government bonds make up an increasingly important segment. The segment experienced a stellar growth of nearly seven-fold in 2023 and is quickly recovering from a brief slump at the end of 2023. The article dives into the current situation and some exciting trends in tokenized government bonds and the tokenized real-world assets (RWA) sector as a whole. Current Situation Tokenized government bonds and other tokenized real-world assets (RWA) have witnessed significant growth, propelled by rising interest rates joining forces with relatively low DeFi yields. This development has reflected investors’ appetite for asset classes that offer more stable, predictable returns. More and more investors, especially those seeking to strike a balance between the traditional financial market and the cryptocurrency market, are favoring these tokenized RWA products. A estimates that tokenization of global illiquid assets will reach $16 trillion, or 10% of global GDP by 2030. This includes both on-chain asset tokenization and traditional asset fractionalization (e.g. Exchange Traded Funds (ETFs) and Real Estate Investment Trusts (REITs)). Considering the potential market size, even capturing a small portion of this vast market would signify significant growth opportunities for the crypto industry. Boston Consulting Group (BCG) report Players in the RWA Ecosystem RWA Infrastructure Infrastructure providers in the RWA ecosystem, also known as RWA rails, provide the regulatory, technical, and operational infrastructure upon which RWAs are brought into crypto. They serve as the foundation for the entire ecosystem, and the development of RAW rails is vital to the sustainable growth of the RWA sector. Asset Providers Additionally, there are asset providers that focus on originating and creating demand for RWAs across various asset classes， including real estate, fixed income, equities, and others, contributing to the sector’s diversity and breadth. Market Size RWAs are the 11th largest sector in DeFi based on protocols tracked by , with a combined TVL of over $4 billion. According to a , the number of holders of tokens associated with RWA protocols reached over 67,000 on the Ethereum blockchain, more than doubling in the last 12 months. Within this sector, the total value of the tokenized Treasury segment increased to $719 million as of Mar 20, 2024, from around $379 million a year earlier, according to RWA monitoring platform . The average Yield-to-Maturity was at 5%. DeFi Llama Dune Analytics dashboard by @j1002 RWA.xyz That said, the combined TVL of RWAs has been slumping for the last several months after peaking at $6.271B last October. The value of the tokenized Treasury segment also dropped from $771 million at the end of last November, but it has moved back to an uptrend since February this year. As the broader crypto market recovers from the bear market, it seems that some people are pivoting to higher-yielding markets like DeFi lending and liquid restaking. User Profiles and Behaviors We’ve attempted to analyze the profiles and behaviors of RWA users to understand the underlying user demand. We observed that most RWA users are native to the cryptocurrency ecosystem, indicating that the early adopters did not come from traditional investment avenues. One of the facts that can demonstrate this observation is that the average creation date of RWA token holders’ wallet addresses predates the time when RWAs were tokenized on the blockchain. This means that the RWA userbase is a subgroup that evolved from the broader crypto community rather than a community that rose from influxes of traditional investors. RWA users often have a strong grasp of blockchain technology and many have entered DeFi long before RWAs become buzzed. We used the number of RWA token holders as a proxy to gauge RWA adoption. Both the number of RWA token holders and the unique interactions with RMA tokens have been on a continuous rise despite the recent drop in RWA protocols’ combined TVL. We believe this is a sign of the RWA sector’s increased awareness and positive expectations among investors. With a time-series analysis of the RWA holders’ wallet addresses, we’ve found that most of the addresses have been in use for a long time and have participated in various blockchain activities. This means that the RWA sector is largely participated by a healthy group of long-term crypto users. That said, we did notice growing participation from new wallet addresses as well. This probably means the RWA sector is gradually permeating into more traditional user groups as more traditional financial institutions, including Franklin Templeton and Wisdom Tree, embrace RWAs. RWAs are bridging the divide between crypto and traditional finance, but they also carry inherent risks and limitations from the real world. Most RWA interactions require checks from traditional financial systems, such as KYC/AML, credit checks, and minimum balance requirements. These prerequisites limit RWAs’ potential to extend financial inclusivity. Competitive Landscape We conducted an in-depth comparison of different projects in terms of market share, growth rates, pricing, and user experience to assess the competitive landscape. In the tokenized government bond sector, Franklin Templeton, leveraging its extensive accumulation and brand advantage in traditional finance, holds the largest market share. Ondo Finance and Matrixdock have different user demographics due to their different marketing strategies. Emerging companies like Hashnote and Superstate, while having smaller market shares, are experiencing rapid growth, demonstrating market vitality and diversity. With respect to pricing, different projects have different management fee rates, reflecting their strategies for market positioning and cost control. For example, Franklin Templeton and Ondo Finance have lower management fee rates, which help attract large institutional investors. On the other hand, Matrixdock and Maple Finance have relatively higher management fee rates, possibly to compensate for revenue pressures stemming from their smaller market shares. In terms of user experience, providing clear, intuitive, and user-friendly interfaces is crucial for attracting and retaining users due to the nature and complexity of tokenized government bond products. Additionally, with intensified market competition, enhancing service quality and customer support will become key differentiators for each project. To summarize, tokenized government bond projects are in a phase of rapid development, with significant differences among projects in market share, growth rate, pricing strategy, and user experience. Their prospects will be greatly influenced by the global economic environment, regulatory policies, and relevant technological innovations. To remain competitive, they need to continuously optimize their product features, enhance user experience, and adapt to evolving market and regulatory conditions. Major Players in Tokenized Government Bond Products Franklin Templeton Franklin Templeton is a US-based global asset manager with over $1.3 trillion in assets under management. As a traditional investment firm actively exploring the blockchain industry, Franklin Templeton has launched several blockchain-focused venture capital and equity funds in the past. Market Share: 48.6% Government Bond Product’s Market Value: $350,077,608 Management Fee: 0.15% Market Share Change in the Past Quarter: -5.51 percentage points Ondo Finance Ondo Finance launched three tokenized bond products by investing in multi-billion dollar, highly liquid, exchange-traded funds managed by the world’s preeminent bond managers, including BlackRock and Pacific Investment Management Company (PIMCO). They are the U.S. Government Bond Fund (OUSG), Short-Term Investment Grade Bond Fund (OSTB), and High-Yield Corporate Bond Fund (OHYG). Market Share: 17.01% Government Bond Product’s Market Value: $122,511,877 Management Fee: 0.15% Market Share Change in the Past Quarter: -6.69 percentage points Matrixdock Matrixdock is an on-chain treasury bond platform launched by Matrixport, a Singaporean asset management platform. STBT is Matrixdock’s first product, introducing a risk-free rate based on US government bonds. Market Share: 10.78% Government Bond Product’s Market Value: $77,674,902 Management Fee: 0.3% Market Share Change in the Past Quarter: -2.11 percentage points Backed Finance Backed is a Swiss start-up bridging real-world assets on-chain. The company has issued blB01, a tokenized short-term U.S. government bond ETF, on Coinbase’s Layer2 Base. Market Share: 6.73% Government Bond Product’s Market Value: $48,485,006 Management Fee: 0% Market Share Change in the Past Quarter: -0.4 percentage points Hashnote Hashnote is a regulated company under the oversight of the U.S. Commodity Futures Trading Commission (CFTC) and the Cayman Islands Monetary Authority (CIMA). It is a fully regulated, institutional-grade DeFi asset management platform, offering comprehensive service support, zero counterparty risk, and customizable risk/reward strategies to consumers. Market Share: 5.92% Government Bond Product’s Market Value: $42,613,396 Management Fee: 0% Market Share Change in the Past Quarter: +0.2 percentage points Superstate Superstate is a blockchain-based asset-management firm. It raised $14 million in venture capital to develop regulated, on-chain funds that U.S. investors can access last November. In February 2024, it debuted its first tokenized U.S. Treasury fund offering on the Ethereum blockchain. Market Share: 4.16% Government Bond Product’s Market Value: $29,985,969 Management Fee: 0.15% Market Share Change in the Past Quarter: +4.16 percentage points Open Eden Open Eden is a crypto startup established in early 2022. It was co-founded by Jeremy Ng and Eugene Ng, Gemini’s ex-Asia-Pacific head and former Head of Business Development for the region. Market Share: 3.24% Government Bond Product’s Market Value: $23,328,886 Management Fee: 0% Market Share Change in the Past Quarter: -1.12 percentage points Maple Finance Maple Finance is an institutional capital marketplace that provides credit experts with tools to run an on-chain lending business connecting institutional lenders and borrowers. It has been a market leader in private credit. In April 2023, it introduced a new cash management pool allowing non-U.S. accredited investors and entities to participate directly in U.S. Treasury investments using USDC. Market Share: 1.45% Sovereign Debt Product Market Value: $10,428,616 Management Fee: 0.5% Market Share Change in the Past Quarter: -3.23 percentage points Predicting Future Developments We believe six trends will drive the development of the tokenized government bond segment of the RWA market. These trends will transform the market landscape and provide investors with new opportunities. The tokenized government bond segment will witness a deeper integration of on-chain technology with traditional financial assets. This trend will enable more efficient asset tokenization processes and more timely synchronization of on-chain and off-chain data, significantly improving the efficiency and transparency of transactions. This will, in turn, lead to faster and more trustworthy trading experiences for investors, potentially attracting more capital into the area. Deeper Integration of On-chain and Off-chain Mechanics With increased regulatory attention around digital assets, tokenized government bond projects will be forced to strengthen their compliance. We believe more blockchain-based compliance solutions, such as those using smart contracts for compliance checks, will emerge to meet increasingly stringent regulatory requirements. This will boost investor confidence and encourage more institutions to participate in this market. Increased Compliance with Advances in RegTech Solutions Advancements in cross-chain technologies will enable seamless interoperability of tokenized government bond products on various blockchain platforms, enhancing liquidity and accessibility across the entire market. This will provide investors with more choices and flexibility and reduce market risks. Additionally, increased cross-chain interoperability will promote the convergence of international markets, creating more global investment opportunities. Increased Cross-Chain Interoperability We expect projects to introduce more customized and personalized products to meet the specific needs of different investor groups. These products will include those that precisely target an investor’s risk preference and investment objectives, enabling them to achieve their financial goals better. This movement, in general, will allow investors to have a more diversified range of investment choices. More Customized and Personalized Products Projects are expected to place greater emphasis on transparency and security, leveraging blockchain technology’s traceability and tamper-proof nature to enhance investor trust and confidence. This will attract more risk-sensitive investors to participate in the market and help mitigate market manipulation risks. Enhanced Transparency and Security The application of artificial intelligence for market analysis and predictions, as well as the generation of automated investment strategies, will be a significant innovation direction for the Sovereign Debt RWA market in the future. With these innovative developments, investors will be better informed and empowered to seize market opportunities. Integration of Cutting-Edge Financial Technologies like AI Promising Project Types Based on the above understanding, we believe the following five types of projects will be worth paying attention to. Amid more and more stringent regulatory requirements, projects that have a high level of compliance and offer high transparency are more likely to gain favor in the market. These projects will be able to establish a trustworthy reputation and attract more investors. High Compliance Projects Projects that fully leverage cutting-edge technologies such as blockchain, artificial intelligence, and big data, particularly those capable of providing efficient trading and investment strategies, are poised to secure a place in the market. These projects will bring faster and smarter investment experiences. Technology-Driven Innovative Projects Projects that boast seamless interoperability across different blockchain platforms, especially those providing a broader selection of assets with optimized liquidity, will have a clear competitive advantage. Cross-Chain Compatible Projects Platforms that are easy to use and provide comprehensive customer support and educational resources will be more popular, especially among non-professional investors. User-Friendly Platforms Projects that excel in cost control and operational efficiency, such as those offering low management fees and highly automated services, will be able to win out in the competitive market. Low-Cost, High-Efficiency Solutions In conclusion, investors are more inclined to seek higher-yield investment opportunities under a hiking Federal Reserve. The growth of the RWA market indicates that despite macroeconomic pressures, its potential for high returns has attracted a significant amount of capital. With regulatory improvements and technological advancements, we expect the tokenized government bond market to continue to grow, especially given the increasing adoption of digital currencies like stablecoins and CBDCs. That said, tokenized government bond projects may face stricter regulatory requirements in the future, particularly in anti-money laundering (AML) and Know Your Customer (KYC). As the regulatory environment becomes more stable, these projects are expected to integrate more seamlessly into the traditional financial system while providing investors with new investment channels and risk management tools. To mitigate the inherent risks associated with RWA products, we believe tokenized government bond issuers should adopt decentralized governance decision-making mechanisms, such as the DAO framework used by many issuers in the private credit category. Such mechanisms enhance transparency, allow for better risk assessment and mitigation and also help ease regulatory compliance. Also published . here

The Status Quo and Six Trends in Tokenized Government Bonds: Analyzing the Current State and Future 

স্থিতাবস্থা এবং টোকেনাইজড সরকারি বন্ডের ছয়টি প্রবণতা: বর্তমান অবস্থা এবং ভবিষ্যত বিশ্লেষণ করা

Der Status Quo und sechs Trends bei tokenisierten Staatsanleihen: Analyse des aktuellen Zustands und der Zukunft

El status quo y seis tendencias en los bonos gubernamentales tokenizados: análisis del estado actual y el futuro

Le statu quo et six tendances des obligations d'État tokenisées : analyse de l'état actuel et futur

टोकनयुक्त सरकारी बांडों में यथास्थिति और छह रुझान: वर्तमान स्थिति और भविष्य का विश्लेषण

トークン化国債の現状と6つの傾向：現状と将来を分析する

토큰화된 국채의 현황과 6가지 동향: 현황과 미래 분석

O status quo e seis tendências em títulos governamentais tokenizados: analisando o estado atual e o futuro

Статус-кво и шесть тенденций в токенизированных государственных облигациях: анализ текущего состояния и будущего

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代币化政府债券的现状和六大趋势：分析现状和未来

**SINGAPORE, Singapore, March 13th, 2024/Chainwire/--**SynFutures is a leading decentralized derivatives exchange, today announced the Trading Grand Prix (TGP) Competition, setting a new record with the largest stablecoin prize pool ever offered in decentralized finance (DeFi) history. With 500,000 USDB in rewards, the competition marks a monumental milestone following the launch of SynFutures V3 on Blast, which garnered over 300,000 registrations and more than $24M in TVL in just one week. The TGP is designed to spotlight SynFutures’ new Oyster AMM (oAMM), a fusion of automated market-making with an onchain order book model, setting a new benchmark for capital efficiency in DeFi. Historically, the gap between DeFi and CeFi has been pronounced, with the latter often outpacing in efficiency and user experience. Powered by the novel oAMM, SynFutures V3 bridges this divide, heralding a new era where DeFi can compete head-on with its centralized counterparts. An Eight-Week Marathon of Skill and Strategy. Beginning March 12, 2024, and ending May 7, 2024, the competition invites all traders to navigate the volatile seas of decentralized perps trading, leveraging SynFutures’ unmatched efficiency to secure their spot among the legends of the trade. Each tournament stands alone, offering fresh chances to win weekly USDB prizes, with up to 10,000 USDB awarded to the top trader. TGP also features a Masters Tournament, drawing in luminaries from the DeFi community and leading firms. Particpants include @jandx_, @RoofHanzo, @CMSholdings, @Awawat_Trades, @CL207, @keyboardmonkey3, @mattomattik, @nanixbt, @izebel_eth, @_jaechung, @cryptoethan, and @ResearchKronos. This elite gathering underscores the competition's significance, providing an onchain stage for the best to showcase their strategies under the most dynamic of market conditions. Rachel Lin, Co-founder and CEO of SynFutures, reflected on the inception of the trading competition. "Having seen so much success with our V3 launch on Blast, we wanted to celebrate this milestone by doing something unprecedented in DeFi. The Grand Prix isn't just a competition; it's a testament to our belief that DeFi can offer a trading experience as rich, if not richer, than CeFi. This competition invites the trading community to experience our new platform's capabilities firsthand." As the Grand Prix beckons, all traders are invited to partake in this historic event, vying for a piece of the half-million USDB prize pool. It's more than a competition; it celebrates strides toward a decentralized future, underscored by SynFutures' unwavering commitment to innovation, efficiency, and community. In addition to the TGP, users on SynFutures can earn up to 3x the rewards potential through the Expanded Oyster Odyssey (OO) program. Traders and liquidity providers will be rewarded with Blast, Blast Gold (Big Bang developer airdrop allocation), and OO points. A breakdown of the rewards distribution can be found . here Users can visit the for more information on , leaderboard updates, and registration details. SynFutures blog The Grand Prix Trading Competition About SynFutures SynFutures is a decentralized perpetual futures protocol that facilitates open and transparent trading on any assets and listings instantly. The V3 Oyster AMM launched the industry's first-ever unified AMM and onchain order book model. Backers include Tier 1 Web3 institutional investors Pantera Capital, Polychain Capital, Susquehanna International Group (SIG), Dragonfly Capital, Standard Crypto, and Framework Ventures, and the team has extensive experience at global financial institutions, fintech companies and blockchain technology companies such as Alipay, Bitmain, Credit Suisse, Deutsche Bank, Matrixport, and Nomura Securities.  Learn more: | | | | | | Website YouTube X Discord Telegram Github Press Kit Contacts CMO Mark Lee SynFutures mark.lee@synfutures.com Head of Content Greer Rodriguez SynFutures greer.rodriguez@synfutures.com This story was distributed as a release by Chainwire under HackerNoon’s Business Blogging Program. Learn more about the program here.

SynFutures Launches 500,000 USDB DeFi Trading Competition Following V3 Launch

Despite not exhibiting the immediate bullish response many had anticipated in the wake of the Bitcoin Spot ETF , Bitcoin's price has seen a remarkable surge of 100% over the past year. approvals However, the ETF approvals set a precedent for as an asset class, and with the next Bitcoin halving expected midway through April this year, there is plenty of reason to be positive about this year’s price development. Bitcoin Investors Expecting a Bullish 2024? Most predictions by institutions and experts within and outside the crypto sphere forecast that BTC will soar greatly in 2024. I have collected a large number of public calls and predictions, which I will present below. Institutional Forecasts CoinFund: $250,000 - $500,000 CoinFund, a prominent venture capital firm in the crypto space, holds one of the most bullish predictions. In an email to CNBC, Seth Ginns, the company's managing partner, mentioned that BTC could rally up to $500,000 in 2024. He cited factors such as an inverse correlation with the dollar and yields, BTC Spot ETF inflows, and the potential approval of Ether Spot ETFs later in the year. “Bitcoin has a strong inverse correlation with the dollar and real yields, and both are now going down. We also expect the follow through inflows post-launch of the BTC spot ETF, as well as growing excitement around the likely approval of ETH (ether) spot ETFs later in 2024, will be quite meaningful.” Bernstein: $150,000 Private wealth management firm Bernstein predicts that BTC could reach $150,000 by 2025. This estimate was based on the possibility of an ETF approval, which has now materialized. According to a note shared by Bernstein's analyst Gautam Chhugani last year, ETFs are expected to attract approximately 10% of Bitcoin's supply. “You may not like Bitcoin as much as we do, but a dispassionate view of Bitcoin as a commodity suggests a turn of the cycle.” Pantera Capital: $148,000 Pantera Capital conducted an analysis of the shift in the stock-to-flow ratio. The findings revealed that the upcoming halving in 2024 is poised to exert a more substantial influence on diminishing the new supply percentage (47%) compared to the 2020 halving (43%). “The next halving is expected to occur on April 20, 2024.  Since most bitcoins are now in circulation, each halving will be almost exactly half as big a reduction in new supply.  If history were to repeat itself, the next halving would see bitcoin rising to $35k before the halving and $148k after.” CoinShares: $141,000 Following the approval of a Bitcoin Spot ETF, the price might rally up to $141,000 within the next 12 months based on a Fund Flows Model published by CoinShares' Head of Research James Butterfill. The foundation of the model rests on a cautious assumption, as indicated by Galaxy's , suggesting that spot Bitcoin ETFs could constitute a market valued at $14.4 trillion. If merely 10% of the investors holding these funds decide to allocate 1% of their wealth, the resulting capital influx would exceed $14.4 billion in the first year. report Matrixport: $125,000 In a note sent out last year, Matrixport predicted that BTC's price will rally up to $125,000 by the end of 2024 based on previous cycle price actions. “Historically, the years when Bitcoin mining rewards were halved were generally bullish: 2012 (+186%), 2016 (+126%), and 2020 (+297%). As miners tended to hoard Bitcoins before each halving, prices increased by +200%, which would project Bitcoin reaching $125,000.” Standard Chartered: $100,000 Last year, Standard Chartered doubled down on its prediction that BTC’s price will hit $100,000 by the end of this year. Some of the factors cited as potential bullish catalysts by the bank include “turmoil in the banking sector in March this year that helped to “re-establish Bitcoin’s use as a decentralized scarce digital asset,” approval of a Bitcoin Spot ETF and the expected Bitcoin halving event. ETC Group: $100,000 According to ETC’s Group 2024 outlook, Bitcoin’s price could hit $100,000 this year. This prediction is based on several factors, including the halving, Bitcoin’s on-chain metrics, and the adoption curve. “Bitcoin’s on-chain metrics imply that BTC’s supply is significantly scarcer, and accumulation has been more pronounced this cycle than during the last cycle.” Bitwise: $80,000 Bitwise expects BTC's upward trajectory to continue into 2024, with the price surging past $80,000, based on two major catalysts: Bitcoin Spot ETF approvals and the halving event. “Bitcoin outperformed all major asset classes in 2023, rising 128% while the S&P 500 returned 21%, gold returned 12%, and bonds returned 2%.2 We expect that trend to continue in 2024, with bitcoin trading above $80,000 and setting a new all-time high.” VanEck: All-time High One of the 15 crypto market predictions by VanEck is that Bitcoin will climb back to its all-time high in Q4 2024. The main argument supporting this prediction is the political developments expected to take place; around 45% of the world’s population, including the U.S. will go into elections this year. “Bitcoin will climb a Presidential-sized wall of worry. The percentage of the global population voting in legislative and presidential elections will hit an all-time high above 45% in 2024. This high level of important elections augurs high volatility and the prospect of significant changes.” Messari: $600,000 in the long term In the 2023 crypto thesis report, Messari acknowledges that it might be difficult to predict BTC’s price in a shorter time frame. However, based on the ‘digital gold’ narrative, this crypto analytics firm predicts BTC’s price could eventually soar up to $600,000. “We probably won’t see another 100x for bitcoin, but the asset could easily outperform other established asset classes once again in 2024. Eventual parity with gold would yield a price per BTC of over $600,000.” Expert Insights Cathie Wood (ARK Invest CEO): $1.5 million by 2030 Following the approval of 11 Bitcoin Spot ETFs earlier this month, including the ARK 21Shares Bitcoin ETF, Cathie Wood recently reiterated in a CNBC interview that her base case scenario is BTC surging to $600,000 by the end of this decade or going higher to $1.5 million under more optimistic conditions. Arthur Hayes (Former BitMEX CEO): $1 million The former BitMEX CEO has consistently maintained a highly optimistic outlook on BTC. In a recent tweet, he predicted that BTC's price will reach $1 million, driven by a potential shift in policy by the Fed, which, in turn, could trigger a rally in risk-on assets. “At this point, there is no excuse not to be long crypto. How many more times must they tell you that the fiat in your pocket is a filthy piece of trash? Believe in the Lord, and he shall set you free.” Samson Mow (JAN3com CEO): $1 million A Bitcoin enthusiast since the early days, Samson Maw predicts that Bitcoin's price could soon surge to $1 million. This projection is based on various fundamental factors that he argues are yet to be priced in, including ETF approvals, the halving, increased nation-state adoption, renewed quantitative easing (QE), and the multiplier and Veblen effect. Michael Saylor (Microstrategy CEO): $350,000 As of December 2023, MicroStrategy owned a total of 189,150 Bitcoins, establishing itself as one of the largest BTC hodlers. The company’s CEO and Bitcoin enthusiast, Michael Saylor, anticipates that Bitcoin's price will increase tenfold once responsible custodians begin managing Bitcoin. This shift is already underway, especially with the approval of spot ETFs. Tim Draper (Venture Capitalist): $250,000 In an interview with Coin Bureau towards the end of last year, American Venture Capitalist Tim Draper reiterated his prediction that BTC’s price will soon hit $250,000. This estimate is based on Bitcoin’s underlying value proposition as an asset that can also be used for transactional purposes and its decentralized nature. “Having a bank and government decide on what currency is good is not as effective as having a bitcoin where there is a trusted third party, which is hundreds of thousands of nodes making sure the transaction was done properly.” Max Keiser (Bitcoin Community): $220,000 For a long time, Max Keiser has been calling for $220,000, and following last year’s price action and the looming macro uncertainty, he recently doubled down on this prediction. “Keep in mind, Bitcoin trades at these levels AFTER social unrest and societal breakdown are irreversibly causing havoc. You have to prepare for higher prices AND economic collapse.” Tone Vays (Crypto Analyst): $200,000 A renowned analyst in the crypto space, Vays has previously predicted that BTC could surge to $200,000 or higher sometime in 2025. However, in a recent analysis, he that BTC is likely to retrace back to around $39,000 before it can regain momentum. forecasted Mike Novogratz (Galaxy Digital CEO): All-time high Back in 2021, Galaxy Digital's CEO predicted that Bitcoin's price would reach $500,000 this year. And in a more recent interview with CNBC, Mike Novogratz stated that he expects the next milestone to be breaking the all-time high of $69,000 this year and wouldn't be surprised if BTC's price climbed even higher. Plan B: $16K-$65 range Based on the stock-to-flow model, Plan B estimates that Bitcoin’s price will hover around $16K-$65K during the 2024 halving, after which it will trade between $65K-$524K for the next four years. At 2012 halving most bitcoin was <$16. At 2016 halving most BTC was in $256-$1024 range. At 2020 halving most BTC was in $4k-16k range. At 2024 halving most BTC will be in $16k-$65k range. I would not be surprised if, in the next 4 years, most BTC will transfer in the $65k-$524k range. Larry Fink (Blackrock CEO): No specific target, bullish on fundamentals BlackRock's CEO, Larry Fink, is swiftly gaining recognition as a Bitcoin bull, and with the company securing approval from the SEC, it's unsurprising that his sentiments toward BTC are notably bullish. Here are some of his insights on Bitcoin from a recent interview with Fox: If you’re fearful of your government or worrying your government is devaluing the currency, then you could see this as a great potential long-term store of value. It’s like digital gold. It is a ledger, but it’s an international ledger that’s cross-border. It’s bigger than any government. The advent of the Bitcoin ETF is an example that we’re legitimizing this asset class. Stan Druckenmiller (American Billionaire): Bitcoin is worth an investment Speaking during the Robin Hood NYC 2023 Fireside Chat, Stan Druckenmiller expressed his opinion about Bitcoin, likening it to gold’s appeal as a store of value. “I’m 76 years old. I own gold. I was surprised that Bitcoin got going. But, you know – it’s clear that the young people look at it as a store of value because it’s a lot easier to do stuff with. The young people have all the money… So, I like them both [BTC and gold]. I don’t own any Bitcoin, to be frank. But I should.” Stay Updated - Follow me on Twitter! Enjoyed these insights? There's more where that came from. Follow me on for daily tidbits and updates. Twitter/X Also published . here

Bitcoin Price Projections 2024: Insights From Experts and Institutional Forecasts

Welcome Founders! See sample interviews here. , Hey Hackers has been nominated in HackerNoon's annual awards in Spain Misc, as an Aerospace Tech startup. Vertiports Network Startups of the Year Please vote for us here: https://startups.hackernoon.com/europe/europe-spain Read more about us below to understand why we deserve your vote. Meet Vertiports Network In Vertiports Network we are developing (or, as we like to call it, )  to rule and manage complex air mobility operations. Vertiports Network OS VENETOS We have started with an advanced air mobility digital twin, centered on air operations management. Then, we will move to the ground segment and ground operations (vertiports) including availability, energy management, weather and forecasting, security, comms, payments, etc. We want our final users (passengers) to just fly, and we will take care of the rest. How We're Disrupting/Improving the Software Development Industry We are leveraging software to find a solution to manage urban air mobility complex scenarios. By integrating different technologies (like video game engines, advanced communications protocols, IoT  systems, etc), we are customizing a new solution for vertiports and advanced air mobility management. Main urban air mobility companies have started from asset and aircraft (EVTOLs) designs. We believe in software as the main core needed to solve this complexity. We have designed a software solution to manage advanced air mobility, and we will move forward to integrate infrastructure assets (vertiports), EVTOLs (aircrafts), energy management systems, and so on. We are applying an to a different ecosystem: instead of laptops or smartphones, we are using infrastructure and vertiports. Then, different applications could be built on top, such as apps for smartphones. operating system approach Standing Out from The Crowd We are taking a holistic approach, leveraging software design and architecture. In contrast to other ATM (Air Traffic Management) software companies, we are integrating the rest of the elements of advanced air mobility operations. This goes from EVTOLs management to vertiports network,  digital twins, passenger fly reservations, payments… As did with their hardware, we are working on our own vertiport design as well!  It will be Network-related processes are exponentially more complex than a single-base approach (one airport with multiple operations in the same place vs several and distributed airports with parallel operations). Apple natively integrated into VENETOS. A is required, and is our solution. commonly distributed layer VENETOS Our Predictions/Thoughts on the Software Development Industry in 2023 What emerging trends or technologies do you think will have the biggest impact on software development in 2023? Generative AI has gained significant popularity in recent weeks, primarily through user-based applications. However, there is now a growing emergence of custom-made solutions. This development has a positive outcome as it helps to familiarize a large number of people with AI technology. Once they find that tools like ChatGPT are no longer enough, they will get into other kinds of AI algorithms and models, helping the AI industry flourish. We use several AI modules in VENETOS, like the path planning and navigation engine. These kinds of applications will be standardized. Do you think remote work will continue to be a prevalent trend in the software development industry in 2023 and 2024? Definitely! Although in-person work has some advantages related to problem-solving or innovation, well-managed software teams are more competitive when they work in comfortable environments. Why or why not? We have seen several layoffs in the industry. Software engineers and developers normally work on very complex problems. They require stressless environments. Some companies understood how it goes,  they learned how to manage those remote teams and now they are attracting more talent. The companies that don’t understand it will probably lose their teams against other players, making them less competitive. How do you think the demand for software developers will change in 2023? a. Will there be a shortage or surplus of skilled workers? Although it seems like there is a surplus of software engineers and developers, mainly because of layoffs and the new AI-based tools, we think it is just a smoke-and-mirrors effect. More than ever, skilled software engineers and designers are needed (as mentioned above, there is going to be a growing demand for AI software designers in the near future). Finding those talented workers, especially in countries like Spain, is not an easy task and it will get more difficult as they will move where they are more valued. What company or institution will have the most impact on the industry in 2023? Pushed by current and future AI requirements, we think will be the company that will impact the industry the most. Nvidia What word defines the state of Software Development in 2023? Three: , 😃. Customized Artificial Intelligence Why we decided to participate in HackerNoon's Startup of the Year awards Actually, our nomination came out of the blue! We are quite happy and it made us push our work harder. It was extremely motivating for our team! Final Thoughts We are really pleased to be nominated. We are focusing on pushing urban air mobility software to new heights, and this nomination was the turning point that we needed. Thank you very much HackerNoon for the nomination! Vetriports Network is nominated as . Vote for us today! Startup of the Year in Spain

"Just Fly, We’ll Handle the Rest" : Interview With Startups of the Year Nominee, Vertiports Network

It is one thing to trade crypto and not care about its origin, but quite another to understand its history and connect the dots that puzzle. But taking a step further to write about the history and the seesaw of the crypto industry can be said to be the most noble act. Only the most curious among us can be inspired to add to the vast literature that has accumulated on the subject. Singapore-based crypto author and analyst is the author of , a four-hundred-page long newly published book, examining the and reinforcing our understanding of how the crypto industry operates. Markus Thielen Crypto Titans history of cryptocurrency Thielen and I recently sat down for this interview. We talked about his new book, his career as a crypto author, and the crypto industry. Read on! Mr. Thielen, can you tell us about yourself? I am the Head of Research & Strategy for Matrixport, a $4bn all-in-one financial solutions platform for digital assets. Industry veterans started the firm, and Matrixport serves around 500 institutional clients. As a strategist, I monitor the markets and provide investment advice and insights through research reports about industry trends and investment opportunities. https://youtu.be/PJsEtDyvOBM What is your route to blockchain, crypto, and web3? I have monitored crypto since 2012 and gained some sideline experience. Still, a few years later, I started trading crypto for a financial institution as part of a proprietary macro portfolio. During the last bull market, it was all about yield farming and the play-to-X opportunities but once the hype was over, it was time to focus on the fundamentals. My approach has been more macro-focused, understanding the narratives, liquidity, and trends while keeping an eye on valuations and potential headwinds. I have also been focused on policy implications for crypto and this approach served me well to protect capital during the bear market last year. Your new book, the Crypto Titans, is finally on Amazon. What is it about? The book explains how the crypto industry started and evolved and how everything in crypto is ultimately connected. It shows the players behind the $3 trillion industry (at its peak) and how billions of dollars were lost. The book also explains how the four crypto bull markets of 2011, 2013, 2017, and 2021 unfolded, the drivers behind them, and what caused prices to correct violently during bear markets. I also write about the players involved and how they have made money-while others have lost large sums. The red line of the book is that policy and regulatory decisions have influenced the trends in crypto more than most people are aware of, and I clearly show how those bull and bear markets were intertwined with those bigger trends. How did your career as a crypto author begin? Similar to tradFi, it is crucial to understand why prices go up and down and what and who influences prices, and I did a structural analysis around those concepts. Why and when did stablecoins become big, how and through what actions did Binance become such a giant player, and how did people make and lose money – connecting all those events with specific dates helps me tremendously understand the industry’s structure. While for most people, crypto seems random, everything is interconnected I started writing down those patterns and dug deeper, and it led me to this book. As the Head of Research, I have a very structured approach to understanding the drivers of big moves and writing a book has been a natural extension of my research. The evolution of cryptocurrency was one of trial and error before Satoshi came on board. How do you put this in proper perspective? There were many attempts in the 90s and early 2000s to solve the double spending problem. Initially, not many people paid attention to Satoshi as there were too many attempts. It took several months for people to look beyond the whitepaper and wait until Satoshi presented the software to run the Bitcoin code. Despite the incorporation of many different problems into one whitepaper, it's also interesting that the invention of cryptographic currencies has continued. Does the crypto industry have an image problem? Is it dying? The crypto industry does not have an image problem per se but primarily a performance problem and a secondary adoption issue. Despite the bear market, many institutions are still keen to get and stay involved with crypto. However, those institutions are holding back from deploying capital. But those institutions will be back when prices climb higher, so it is a matter of price foremost. https://youtu.be/BKwDlcGYZx8?embedable=true Netflix only became a viable company once the streaming costs materially declined, and for crypto, it might be similar. It was the cost of minting NFTs that caused the collapse back in 2021. But with the upgrades that Ethereum is going through now, the cost issue could materially change. You investigated how trillions and billions were made and lost in the different phases of the crypto market. Can you give us a brief explanation about it? At its peak in 2021, the crypto was roughly $3trn strong. Some players made billions through mining machines, others made billions by setting up exchanges. But there has also been a material change in terms of people. First, there were technology enthusiasts in the US, but a regulatory change caused the industry to move to Asia where crypto was scaled. At the same time, the Chinese invented these hyper-efficient mining machines that put every other region out of business. https://youtu.be/BKwDlcGYZx8 A few years later, we have a lot of Stanford people entering the industry and making billions by setting up various crypto projects. The book talks a lot about the key players and critical companies that drove various changes within the industry. Can we establish the thesis that regulation will kill the crypto industry? We have numerous examples during the last ten years, and instead of killing the industry, it evolves and moves like water. This is precisely what I wanted to find out with this book: there is a magical relationship between policy / regulatory decisions and the industry's evolution. While many say that the U.S. is being very harsh currently, the industry will evolve. There are now 420 million people who have crypto holdings, this is unstoppable. Nobody should be surprised if the Middle East or Asia will be the dominant centers for crypto. But London is also making essential efforts, and London is still a global center of financial liquidity. Those three centers are still very positive on crypto, so talking about killing is misplaced. What, in your view, is the biggest challenge facing it? Most surveys still indicate that education is among the biggest problems for the industry. For many outsiders of crypto, they are curious and hesitant as it seems so random. For people within crypto, it appears a lot about short-termism. This is really why I wrote the book and instead of keeping those insights to myself or a selected group of institutional clients, I wanted to share it and help others understand that there is a structure. As with any asset class when it slowly matures, the volatility will decline as people become more educated. This will cap the upside but it will also minimize the downside. If I want to learn about WW2, I can pick up a book and read it over the weekend, up until now, this didn’t exist for crypto. What can be done about it? Hence publishing the “crypto titans” book, which goes through all the major turning points for crypto and solves the education problem from a bigger perspective. Several OGs and leading industry players have reviewed the book and everybody had positive feedback. So if those guys have learned something from the book, it will be a treasury for anybody else. Any parting words? The industry is evolving quickly because so many people worldwide are involved in it. Some need to catch up, while others need to be on their toes to stay ahead of the curve. With $60bn of Venture Capital money having gone into crypto over the last three years and many of the smartest people dedicated their careers to crypto, we must assume that the industry keeps pushing forward. The key is staying informed.

Crypto Titans: Exclusive Interview With Prolific Crypto Author Markus Thielen

Hi Rachel, welcome to our series “Behind the Startup.” Please tell us about yourself and the story behind ? Ishan Pandey: SynFutures I’m Rachel Lin,  co-founder and CEO of SynFutures. I started my career in TradFi at Deutsche Bank in the global markets department,  specializing in structured derivatives. Later on, I joined Ant Financial , where I helped build the first version of its blockchain platform. Prior to SynFutures, I was one of the founding partners and head of DeFi and lending for Matrixport, a spin-off of Bitmain and one of Asia’s largest crypto neobanks. Rachel Lin: We founded SynFutures based on a few observations: First, there is already a big demand for derivatives in the financial market. Derivatives transactions accounted for approximately 70% of the total trading volume of traditional foreign exchange (FX) in 2019. Second, centralized finance (CeFi) derivatives exchanges have a number of limitations, including behind-the-scenes mechanisms that have long been controversial—especially during forced liquidations. Other factors include operational inefficiency that limits the variety of trading pairs and a reliance on the CeFi exchange’s credibility. At SynFutures, we’re embarking on a new era of accessibility in investing by democratizing the derivatives market and empowering users to trade anything at any time. The project was able to launch thanks to the strong backing of our top-tier investors. Last year, we announced  a $14mn Series A funding round led by Polychain Capital with participation from Framework, Pantera Capital, Bybit, Wintermute, CMS, Kronos, and IOSG Ventures. How can we short or long NFTs? Further, how does it work as each NFT has a separate market? Ishan Pandey: While NFTs have been skyrocketing in popularity since early 2020, every health financial market must have a way for participants to take both sides of the market, or in this case, short or long NFTs. This enables traders to maximize their profit opportunities while hedging risk and exposure. Rachel Lin: SynFutures has a product, NFTures, which enables users to go long or short on individual or baskets of NFTs with a smooth single-token trading experience. This is achieved through NFT fractionalization, which divides an NFT asset into smaller parts so that there can be multiple owners of a single NFT. NFTures bases its contracts on spot price oracles from decentralized exchanges such as Uniswap and SushiSwap, as well as NFT fractionalization protocols such as Unic.ly and Fractional. Similar to traditional futures markets, the spot and futures prices eventually converge on a set periodic schedule. Can you explain and define the key players in TradFi, BlockFi and DeFi. Also, kindly elaborate a little on the key differences between these three major factors leading to a rise in crypto banking? Ishan Pandey: Traditional finance, or TradFi, refers to the financial systems and operations that we have long known. This includes your local bank, such as Citibank, along with fintech platforms like Paypal. These are centralized companies and organizations. Rachel Lin: Blockchain finance, or BlockFi, refers to blockchain-based banks and services. These are centralized and regulated like TradFi systems, but they exist on the blockchain. Common BlockFi services are BlockFi and Coinbase. Unlike BlockFi, a central organization doesn’t oversee decentralized finance (DeFi) services. As such, users can engage with and use DeFi services anonymously and without fear of censorship. DeFi platforms include Uniswap, Aave, dYdX, and now SynFutures. The growing interest in BlockFi and DeFi services is rooted in the issues that have long plagued traditional finance, including high fees, cumbersome approval processes, etc. As institutional interest in DeFi continues to grow, we can expect more TradFi platforms to implement blockchain-based services and for BlockFi and DeFi services to continue to increase in popularity, leading to a rise in crypto banking. Solana, was one of the best-performing cryptocurrencies in 2021 and has also posed as one of the biggest competitors to Ethereum. What are your thoughts on this? Ishan Pandey: Solana’s growth in 2021 reflects the growing interest in Layer 1 chains, which are often viewed as alternatives to Ethereum because they have lower gas fees and offer more efficiency than Etheruem. However, it’s important to note that Layer 2 scaling solutions for Ethereum also saw growth this past year. Rachel Lin: Ultimately, we believe that the blockchain system will consist of many different chains and ecosystems, each of them offering its benefits and use cases. Interoperability between these different ecosystems will be important as we work toward the future of DeFi and Web3. Can you please share some tips for beginners in crypto trading. Also, what are some of the risks of participating in this activity, especially for novice traders, and how can they be avoided? Ishan Pandey: A common mistake many traders make in the beginning is trading based on hype. Influencers are shilling the “next big” token or project every day, and novice traders often get caught up in the hype and make rash trades. Of course, speculators play an important role in any healthy financial market, and hype does play a role in adoption. Rachel Lin: It’s important to research a project before investing. Learn about the utility of the token, how it fits into the project, and what it does. Doing so will allow you to make a more informed decision. There are always risks associated with crypto investing. If you buy into a token that’s pumping, it may fall in price just as quickly. Trending projects, specifically meme-based projects, can also be risky investments. Again, research is key here, as is hedging your positions. This is where derivatives come into play—you can take long positions and short positions to hedge risk. Please tell us a little bit about SynFutures and the future of decentralized crypto-based derivatives? Ishan Pandey: SynFutures is a decentralized derivatives protocol that enables trading on anything at any time. Users can create their asset pairs in a permissionless way and take leveraged long or short positions based on anything such as BTC, altcoins, gold, hash rate, and real-world assets. Rachel Lin: The future of decentralized crypto-based derivatives is very promising, as we’re already starting to see progress in DeFi and significant interest in derivatives. In traditional finance, derivatives trading is not as easily accessible, so at SynFutures we’re working to make the process as seamless as possible for investors at every level. What, according to you, will have the greatest impact on the institutional adoption of Bitcoin, and how long do you think the current price rally will last? Ishan Pandey: Regulation will significantly impact Bitcoin and crypto adoption. We can expect adoption to follow as we see more constructive regulation and clarity. Rachel Lin: There are varying opinions on the current price rally, but the general consensus is that the next bear market cycle will be different from past ones. With crypto seeing more mainstream adoption and attention from TradFi institutions, we’re in a very different position than we were just a few years. As an asset class, crypto is more resilient than ever. What role has the pandemic played in allowing traders to profit from cryptocurrency investments? Also, what do you think the post-covid-19 scenario would look like for the blockchain ecosystem? Ishan Pandey: The pandemic has played an important role in boosting crypto adoption because there were many depressed asset classes during this time period. Investors hedge their bets on risker asset classes when interest rates are low, so crypto was an attractive option. Rachel Lin: While every financial market has ups and downs, we can expect to see greater adoption for crypto and crypto-related financial services post-pandemic. We’re already seeing fintech platforms like PayPal incorporate Bitcoin into their services, which will further drive adoption. According to you, what new blockchain trends are we going to see in 2022? Ishan Pandey: Toward the end of 2021, the future of the metaverse and Web3 became more widely discussed to expect progress in these sectors. I also expect to see DeFi become an important part of other emerging sectors, like NFTs, Play-to-Earn, and GameFi (Gaming and DeFi). Rachel Lin: As I’ve touched on, regulation will be an essential factor in crypto adoption and direct what sectors see growth throughout the year and beyond. Disclaimer: The purpose of this article is to remove informational asymmetry existing today in our digital markets by performing due diligence, asking the right questions, and equipping readers with better opinions to make informed decisions.

Influencers are Shilling the “Next Big” Token or Project Every Day - Investors Beware 

In a previous post of this series [1], we introduced how to use the Python-based graph analysis library NetworkX [2] and [3] to analyze the character relationships in “Game of Thrones”. Nebula Graph In this post, we are going to explore how to use the Java-based graph analysis library JGraphT [4] and the diagramming library mxGraph [5] to visualize the changes of correlation between the S&P 100 Index stocks [6] over time. Dataset Processing The main analysis method used in this post refers to [7] and [8]. There are two datasets: the vertex set and the edge set. Stock Data (Vertex Set) Select the following S&P 100 Index stocks, and model each stock as a vertex. The properties of each vertex are the stock code and the industry of the listed company. Table 1: The vertex set sample Stock Relationship (Edge/Relationship Set) Each edge has only one property, i.e. the weight. The weight of an edge indicates the daily return rate similarity of the listed companies represented by the vertices (stocks) on both ends of the edge. The similarity algorithm refers to [7] and [8]: analyze the time-series correlation of the individual stocks’ daily return rate over a period of time (from 2014-01-01 to 2020-01-01), and define the distance between the individual stocks (i.e. the edge weight) as follows. Through such processing, we get the range of the distance as [0,2]. That means the more distant the two stocks, the lower the correlation between their return rates. Table 2: The edge set sample Such a vertex set and an edge set form a graph network, which can be stored in the Nebula Graph database. JGraphT JGraphT is an open-source Java class library that provides not only a variety of efficient and common graph data structures but also many useful algorithms for solving the most common graph problems. The features of JGraphT are as follows: Supports directed edges, undirected edges, weighted edges, non-weighted edges, etc. Supports simple graphs, multigraphs, and pseudographs. Provides dedicated iterators (DFS, BFS, etc.) for graph traversals. Provides a large number of commonly used graph algorithms, such as path lookup, isomorphism detection, coloring, common ancestors, wandering, connectivity, matching, cycle detection, partitioning, cutting, flow, and centrality. Provides easy import from/export to GraphViz. The exported GraphViz file can be applied by the visualization tool Gephi for analysis and demonstration. Supports convenient graph network generating while used with tools such as JGraphX，mxGraph, and Guava Graphs Generators. Next, let’s try it out. 1. Create a directed graph in JGraphT. org.jgrapht.*; org.jgrapht.graph.*; org.jgrapht.nio.*; org.jgrapht.nio.dot.*; org.jgrapht.traverse.*; java.io.*; java.net.*; java.util.*;

Graph<URI, DefaultEdge> g = DefaultDirectedGraph<>(DefaultEdge.class);

URI google = URI( );
URI wikipedia = URI( );
URI jgrapht = URI( ); import import import import import import import import new new "http://www.google.com" new "http://www.wikipedia.org" new "http://www.jgrapht.org" 2. Add vertices. g.add ;
g.add ;
g.add ; Vertex( ) google Vertex( ) wikipedia Vertex( ) jgrapht 3. Add edges. g.add ;
g.add ;
g.add ;
g.add ; // Add edges to create a linked structure Edge( , ) jgrapht wikipedia Edge( , ) google jgrapht Edge( , ) google wikipedia Edge( , ) wikipedia google The Nebula Graph database JGraphT usually uses local files as data sources. That’s fine when you’re doing static network research, but if the graph network is constantly changing, like a graph network of the stock data, which changes every day, it’s a little bit of a hassle to generate a new static file, then load it and then analyze it every time. Ideally, the entire change process can be written to a database persistently, and subgraphs or the complete graph can be loaded directly from the database in real-time for analysis. In this post, we use Nebula Graph as the graph database for storing the graph data. Nebula Graph’s Java client nebula-java [11] provides two ways of accessing Nebula Graph. One is interacting with the query engine layer [13] through the graph query language nGQL [12], which is usually suitable for accessing subgraphs and supports complex semantics; the other is to directly interact with the underlying storage layer (the storaged process) [14] through the APIs, which is used to obtain the complete set of vertices and edges. In addition to accessing Nebula Graph itself, nebula-java provides examples of interacting with Neo4j [15], JanusGraph [16], Spark [17], and others. In this post, we use the APIs to access the storage layer (the storaged process) directly to get all the vertices and edges. The following two interfaces can be used to read all the vertex and edge data. ; ; // space is the name of the graph space to be scanned, and returnCols is the vertex/edge and its properties to be read. // Format of returnCols parameter: {tag1Name: prop1, prop2, tag2Name: prop3, prop4, prop5} Iterator<ScanVertexResponse> scanVertex (
            Stringspace, Map<String, List<String>>returnCols) Iterator<ScanEdgeResponse> scanEdge (
            Stringspace, Map<String, List<String>>returnCols) 1. Initialize a client and a ScanVertexProcessor. ScanVertexProcessor is used to decode the read vertex data: MetaClientImpl metaClientImpl = MetaClientImpl(metaHost, metaPort);
metaClientImpl.connect();
StorageClient storageClient = StorageClientImpl(metaClientImpl);
Processor processor = ScanVertexProcessor(metaClientImpl); new new new 2. Call the scanVertex interface, which returns an iterator for the scanVertexResponse object: Iterator<ScanVertexResponse> iterator =
                storageClient.scanVertex(spaceName, returnCols); 3. Keep reading the data in the scanVertexResponse object that the iterator points to until all of the data is read. The read vertex data is saved and later added to the graph structure of JGraphT. (iterator.hasNext()) {
  ScanVertexResponse response = iterator.next(); (response == ) {
    log.error( ); ;
  }
  
  Result result =  processor.process(spaceName, response);
  results.addAll(result.getRows(TAGNAME));
} while if null "Error occurs while scan vertex" break Reading edge data is similar to the above process. Analyze the Graph in JGraphT 1. Create an undirected and weighted graph in JGraphT : Graph<String, MyEdge> graph = GraphTypeBuilder
                .undirected()
    .weighted( )
    .allowingMultipleEdges( )
    .allowingSelfLoops( )
    .vertexSupplier(SupplierUtil.createStringSupplier())
    .edgeSupplier(SupplierUtil.createSupplier(MyEdge.class))
    .buildGraph(); true true false 2. Add the vertex and edge data read in the last step from the Nebula Graph space to the graph: (VertexDomain vertex : vertexDomainList){
    graph.addVertex(vertex.getVid().toString());
    stockIdToName.put(vertex.getVid().toString(), vertex);
} (EdgeDomain edgeDomain : edgeDomainList){
    graph.addEdge(edgeDomain.getSrcid().toString(), edgeDomain.getDstid().toString());
    MyEdge newEdge = graph.getEdge(edgeDomain.getSrcid().toString(), edgeDomain.getDstid().toString());
    graph.setEdgeWeight(newEdge, edgeDomain.getWeight());
} for for 3. Like the analysis algorithms mentioned in [7] and [8], use Prim’s minimum-spanning tree algorithm for the preceding graph and call the encapsulated drawGraph interface to draw the graph. Prim’s algorithm is an algorithm in graph theory that searches for a minimum spanning tree in a weighted connected graph. In other words, the tree formed by the edge subset searched by this algorithm not only includes all vertices in the connected graph but also has the minimum sum of weights of all edges. SpanningTreeAlgorithm.SpanningTree pMST = PrimMinimumSpanningTree(graph).getSpanningTree();

Legend.drawGraph(pMST.getEdges(), filename, stockIdToName); new 4. The drawGraph method encapsulates parameter settings such as the layout of the drawing. This method renders stocks in the same sector in the same color, grouping close stocks together. {
  
... { mxGraph graph = mxGraph();
     Object parent = graph.getDefaultParent(); graph.getModel().beginUpdate();
     mxStylesheet myStylesheet =  graph.getStylesheet();
     graph.setStylesheet(setMsStylesheet(myStylesheet));

     Map<String, Object> idMap = HashMap<>();
     Map<String, String> industryColor = HashMap<>(); colorIndex = ; (MyEdge edge : edges) {
       Object src, dst; (!idMap.containsKey(edge.getSrc())) {
         VertexDomain srcNode = idVertexMap.get(edge.getSrc());
         String nodeColor; (industryColor.containsKey(srcNode.getIndustry())){
           nodeColor = industryColor.get(srcNode.getIndustry());
         } {
           nodeColor = COLOR_LIST[colorIndex++];
           industryColor.put(srcNode.getIndustry(), nodeColor);
         }
         src = graph.insertVertex(parent, , srcNode.getName(), , , , , + nodeColor);
         idMap.put(edge.getSrc(), src);
       } {
         src = idMap.get(edge.getSrc());
       } (!idMap.containsKey(edge.getDst())) {
         VertexDomain dstNode = idVertexMap.get(edge.getDst());

         String nodeColor; (industryColor.containsKey(dstNode.getIndustry())){
           nodeColor = industryColor.get(dstNode.getIndustry());
         } {
           nodeColor = COLOR_LIST[colorIndex++];
           industryColor.put(dstNode.getIndustry(), nodeColor);
         }

         dst = graph.insertVertex(parent, , dstNode.getName(), , , , , + nodeColor);
         idMap.put(edge.getDst(), dst);
       } {
         dst = idMap.get(edge.getDst());
       }
       graph.insertEdge(parent, , , src, dst);
     }


     log.info( + idMap.size());
     log.info( + industryColor.size());

     mxFastOrganicLayout layout = mxFastOrganicLayout(graph);
     layout.setMaxIterations( ); layout.execute(parent);

     graph.getModel().endUpdate(); BufferedImage image = createBufferedImage(graph, , , Color.WHITE, , ); File file = File(filename);
     ImageIO.write(image, , file);

   }
  
  ...

} public class Legend IOException public static void drawGraph (Set<MyEdge> edges, String filename, Map<String, VertexDomain> idVertexMap) throws // Creates graph with model new // set style new new int 0 for if if else null 0 0 105 50 "fillColor=" else if if else null 0 0 105 50 "fillColor=" else null "" "vertice " "colorsize " new 2000 //layout.setMinDistanceLimit(10D); // Creates an image than can be saved using ImageIO null 1 true null // For the sake of this example we display the image in a window // Save as JPEG new "JPEG" 5. Visualize the data. The color of each vertex in Figure 1 represents its industry. We can see that the stocks with high business similarity have been clustered together, but some stocks with no obvious correlation have also been clustered together, the reason for which needs to be studied separately. Figure 1: Clustering based on the stock data from 2014-01-01 to 2020-01-01 6. Some other dynamic exploration based on different time windows. The preceding conclusion is mainly based on the stock aggregation from 2014-01-01 to 2020-01-01. We also made other attempts: Use a sliding window of 2 years and the same analysis method to observe if the clustered groups would change over time. Figure 2: Clustering based on the stock data from 2014-01-01 to 2016-01-01 Figure 3: Clustering based on the stock data from 2015-01-01 to 2017-01-01 Figure 4: Clustering based on the stock data from 2016-01-01 to 2018-01-01 Figure 5: Clustering based on the stock data from 2017-01-01 to 2019-01-01 Figure 6: Clustering based on the stock data from 2018-01-01 to 2020-01-01 According to a rough analysis, with the change of time window, the clustering of stocks within most industries maintains relatively good, which means that with the change of time, all kinds of stocks within the same industry maintain relatively high correlation. Disclaimer This post should not be taken as investment advice. Due to the situation of trade suspension, circuit breakers, trading limits, transfers, mergers and acquisitions, changes of the main business, etc., the data processing in this post may be incorrect. We have not checked all the data piece by piece. Limited by time, this post only selects the data of 100 stock samples in the past six years, and only adopts the method of minimum expansion tree to do the clustering and classification. In the future, maybe we can use larger data sets (such as U.S. stocks, derivatives, and digital currencies) to try more methods in machine learning. For the code used in this post, please see [18]. References [1] Analyzing Relationships in Game of Thrones With NetworkX, Gephi, and Nebula Graph (Part One) https://nebula-graph.io/posts/game-of-thrones-relationship-networkx-gephi-nebula-graph/ [2] Analyzing Relationships in Game of Thrones With NetworkX, Gephi, and Nebula Graph (Part Two) https://nebula-graph.io/posts/game-of-thrones-relationship-networkx-gephi-nebula-graph-part-two/ [3] NetworkX: a Python package for the creation, manipulation, and study of the structure, dynamics, and functions of complex networks. https://networkx.github.io/ [4] Nebula Graph: A powerfully distributed, scalable, lightning-fast graph database written in C++. https://nebula-graph.io/ [5] JGraphT: a Java library of graph theory data structures and algorithms. https://jgrapht.org/ [6] mxGraph: JavaScript diagramming library that enables interactive graph and charting applications. https://jgraph.github.io/mxgraph/ [7] Bonanno, Giovanni & Lillo, Fabrizio & Mantegna, Rosario. (2000). High-frequency Cross-correlation in a Set of Stocks. arXiv.org, Quantitative Finance Papers. 1. 10.1080/713665554. [8] Mantegna, R.N. Hierarchical structure in financial markets. Eur. Phys. J. B 11, 193–197 (1999). [9] https://graphviz.org/ [10] https://gephi.org/ [11] https://github.com/vesoft-inc/nebula-java [12] Nebula Graph Query Language (nGQL). https://docs.nebula-graph.io/manual-EN/1.overview/1.concepts/2.nGQL-overview/ [13] Nebula Graph Query Engine. https://github.com/vesoft-inc/nebula-graph [14] Nebula-storage: A distributed consistent graph storage. https://github.com/vesoft-inc/nebula-storage [15] Neo4j. www.neo4j.com [16] JanusGraph. janusgraph.org [17] Apache Spark. . spark.apache.org [18] https://github.com/Judy1992/nebula_scan Previously published at https://nebula-graph.io/posts/stock-interrelation-analysis-nebula-graph-machine-learning/

How to Explore the S&P 100 Index Stocks Using Graph Machine Learning

A primer on blockchain and token concepts for beginners. I see these questions asked all the time by novice investors entering the space, either for specific projects, or as a general question. So I thought I’d attempt to write a detailed yet basic explanation on the utility of tokens, and what justifies the use of a blockchain. Basically, blockchain embodies a lot of game theory and incentive models. In order for a blockchain network to be valuable or useful, it has to have participants in a network, it would be worthless if Bitcoin only had me and you using it, there’s not much value there in a barren network with not much utility. In order to secure participants, there needs to be some sort of incentive to attract them, the most common method is via issuance or reward of the token used in the network, the more participants, the more decentralized it is. So why not just a database, why do these projects need a blockchain? There are a few key benefits to decentralizing things instead of keeping it in a centralized server/database: Immutability Security Redundancy Overhead/cost reduction Accountability/transparency Immutability Having records and data decentralized, and deployed on a blockchain makes it virtually impossible for any one party to tamper with data or records. Versus how it is now, if you host your data on let’s say, your computer, you can easily edit that file, before you send it to someone else, how can I ensure I can trust you? Security Traditional servers or data are generally centralized, making it a likely target for malicious attacks. Just look at the Equifax’s security breaches and other cybersecurity concerns arising in recent times. Instead of having a single or limited # of servers hackers can attack, decentralization via the blockchain greatly increases the difficulty. The more participants/nodes in a network, the more copies of the data there is. Therefore, if you want to tamper with the data, you will need to attack every single node on the network and alter all of their data simultaneously. Not only does blockchain make data tamper proof, it is also hard to breach. Every “block” on a chain contains a certain amount of data, and when that block gets filled, much like a USB drive, it is encrypted and sealed forever. To get the full picture, hackers will need to hack not just the current block, but also every block before it. This is not only technically almost impossible, but it is costly, thereby reducing the incentive for malicious activities. Different blockchains have different security measures and algorithms, this is a generalization of the concepts. Redundancy You basically have the same set of data distributed across the world, you don’t need to worry if you lose your copy. This provides data resilience to corporations which gives peace of mind from any data corruption, server downtimes, etc Overhead/cost reduction Having a decentralized network of nodes to maintain this ledger allows companies to offset and offload hosting, security, and maintenance costs. It removes a lot of the costs of IT staffing, Dev Ops, and infrastructural overhead. For example: Apple’s servers are literally under attack constantly. They have teams, and teams of people monitoring their servers 24/7/365. Accountability With all of the above in place, you can be sure that everything that is logged or deployed on the blockchain, is accurate, and true. All of this results in the ease of trust, and ease of the ability to do business in a transparent manner, without needing to trust the counter-party. You can simply leverage blockchain technology to let the data and facts speak for themselves. Do currently systems and data infrastructures work? Sure, but they are not perfect. They only exist the way they do because there hasn’t been technology that could come along and offer a vast improvement until the introduction of Blockchain. Ok but what gives token value? Why are they needed? Well, it really depends on the project. 90% of the projects out there are pure bullshit, but for sake of argument, I’ll simply address it for the ones that have actual utility and use cases. As mentioned above, tokens are often used as a method of incentivizing participating in a network, therefore, a successful network means there are a plethora of participants, contributing to the decentralization and securitization of a network. The more participants, the more consensus there is that the network has utility, like Bitcoin. It was worth nothing when Satoshi first introduced it to the world, and it was only him on the network. But as it gained adoption, there is increasing consensus now that Bitcoin the token, has utility as a currency, and therefore intrinsic value between participants in the network. There are generally a few classes of tokens and each class derives value differently: — Tokens like Bitcoin, Monero, Raiblocks, etc Currency tokens — Tokens that allow you to essentially use or perform an activity on a network, such as ETH or ZRX. On the Ethereum network you would need to spend Ether (aka gas), to run a smart contract, etc Utility tokens — Tokens that represent an actual asset or product Asset tokens — Tokens that basically act like a share, and gives you some kind of voting right or consensus participation Equity tokens For a currency token like Bitcoin, it’s value is derived primarily on the use case of it being a currency/store of value. For utility tokens, value could come from the adoption and usage of the network, for example, the amount of data that gets put on the blockchain, and the amount of information that it’s processing, as there are parties willing to pay transaction fees to nodes to process, validate, exchange, and secure that data. This could be decentralized exchanges, or businesses putting supply chain data on the blockchain, etc. For an asset token, this could be tied to the valuation of the assets (ie: Cryptokitties could be considered an asset, yet the underlying network powering it is Ethereum, thereby giving ETH value because it is a method of trade, and it now has utility to trade this asset) that it’s tied to or represents. If a CryptoKitty is traded and its value is tied to a KittyCoin, then that would make KittyCoin an asset token. Equity tokens, this could be valued closer to the investor sentiment and the progress of the project itself. Are they getting business and real world adoption? What kind of voting power will token holders have? What is the future potential and direction of the company? So now that we know where value is derived from, what affects their price? Every project and token may have different stimuli or economic models that affect price. Speculation aside, here’s a few technical factors that affect it regardless of investor sentiment: — This is likely the largest factor in the valuation of a token, especially today, where the market is purely speculative Supply & demand — Is there any activity on the network? What’s the usage like? Adoption/utility — Do tokens get burned over time or upon usage? What’s the rate? Burn rates — How much is in circulation? Is there any lockups? Circulation & lockups — (like NEO/GAS), etc Generation of secondary token — Do you earn additional tokens by locking up and “staking” your holdings to secure the network? Staking — How much of the coins are released and what’s the schedule? Or is it all mined already? Mined/premined So as you can see there are a large number of factors that can affect the valuation and price of a token, and “why is a token even worth anything?” is quite a broad question and requires an in-depth answer. I hope I’ve explained the concepts of why a blockchain is needed and the incentive structure around decentralization and its benefits, as well as why tokens are needed and what drives value. With the cryptocurrency market increasingly saturated, it’s important to understand the underlying technology and principles, so you can make discerning investments, and separate the signal from the noise. If anything’s unclear or if I’ve made any mistakes, please make a suggestion to improve this article! Good luck, and invest wisely! About the Author Mathew Chan is an entrepreneur, designer, and crypto-enthusiast. He’s also the creator of , a mobile app for crypto investors to track their investments effortlessly, with automatic trade syncing, and other time saving features. MatrixPortfolio.com Found this post helpful? Clap for visibility! BTC: 1MfHeG8vBAsxEtLvHSnydz19vtr8WhAmAVETH: 0x467fec405423cbe45443380126f2150e9ede7281LTC: LPabf8ZQ7oJutdJ2RQyccfyX6MAjcDevU5 Want to see more posts like this? You can help by donating: Or signup with my referral links: Get to invest with Coinbase when you signup with my referral link: $10 https://www.coinbase.com/join/5a29dfd8f971bc0139813b5b Or Binance: https://www.binance.com/?ref=10027623

Why use the blockchain instead of a database? What gives tokens value?

A beginner’s guide to getting started with cryptocurrencies

Console logs are not always well structured and eye-pleasing. Unpleasant and messy console takes away from the bliss of a developer. I recently came across a package named which does exactly this — making consoles meaningful and elegant. consola It has browser support, pausing and resuming logs, prompt support and . other useful features Installation You can install it by using , or . npm yarn pnpm npm i consola Trying it out Spin up a new and start exploring. node/express app Basics For a quick hands on experience, in your node application, throw an explicit error and then log it with the help of . consola import { consola } from "consola"

try {
    throw Error("Unexpected error")
} catch (error) {
    consola.error(error)
}

consola.error("Error...")
consola.info("Info...")
consola.warn("Warning...")
consola.log("Logged...") New Instance You can create a new consola instance with the help of the method and use that instead of the default global instance. createConsola import { createConsola } from "consola"

const logger = createConsola({
    level: 0, // error/fatal logs
    fancy: true,
    formatOptions: {
        date: true,
        columns: 20
    },
})

logger.info("Info...") // this WON'T work
logger.error("Error...") // this will work Set the log to selectively allow only certain types of logs. of means only and logs are logged. The default log level is 3. level Log level 0 FATAL ERROR Reporters Reporters are representations of logs in the terminal. Consola (v3.2.3) provides 3 out of the box, namely, , and . They are configured based on log levels on the global instance. reporters basic fancy browser consola To add a custom reporter to your newly created instance, you can use the property which is an array of reporters. reporters import { LogLevels, consola, createConsola } from "consola"

const infoLogger = createConsola({
    fancy: true,
    formatOptions: {
        date: true,
        columns: 20
    },
    reporters: [
        {
            log: (log) => {
                if (log.level === LogLevels.info) {
                    consola.info(JSON.stringify({
                        date: new Date().toLocaleString("default", { dateStyle: "full" }),
                        logs: new Array().concat(log.args.map((l, i) => `${l}${i < log.args.length - 1 ? `,` : ``}`)).join(" "),
                    }, null, 4))
                } else {
                    consola.error(
                        new Error("invalid log method")
                    )
                }
            }
        }
    ]
}) Now, when you use any logging method on this instance, it will only log for the method and throw an error for other methods. You just created a custom info message logger which you can further modify however you want. info // for the above instance
infoLogger.error("Won't work") ❌
infoLogger.info("Will work") ✔️ Multiple reporters per instance are also supported allowing you to separate logs into desired representations. reporters: [
    {
        log: (log) => {
            if (log.level === LogLevels.info) {
                consola.info(JSON.stringify({
                    date: new Date().toLocaleString("default", { dateStyle: "full" }),
                    logs: new Array().concat(log.args.map((l, i) => `${l}${i < log.args.length - 1 ? `,` : ``}`)).join(" "),
                }, null, 4))
            } else {
                consola.error(
                    new Error("invalid log method")
                )
            }
        }
    },
    {
        log: (log) => {
            createConsola({
                fancy: true,
                formatOptions: {
                    date: false
                }
            }).log(log)
        }
    }
] Methods such as , and are available to handle reporters for an instance. addReporter setReporters removeReporter Wrapping native method with instance console consola Doing so will redirect all the native calls to the specified instance. console.log consola infoLogger.wrapConsole()
// consola instance `infoLogger` will print the table
console.table(["Info", "Second Info"]) will restore the native functionality of and won't redirect to consola instance. restoreConsole console.log There are several util methods present in which you can use to further customize the logs. consola/utils Prompts Prompts are supported in consola with the help of , a tool to build command-line apps. Check this out for some . clack prompt examples in consola Conclusion Correctly and elegantly representing console logs is an important task if you want to improve and helps you with just that. developer productivity consola Also published . here

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In an era marked by groundbreaking technological advancements, the convergence of blockchain technology and the drone industry has ushered in a new era of innovation. In this story, we'll delve into the transformative potential of blockchain in drone payments and how the integration of web3 infrastructure sets the stage for a seamless and efficient ecosystem. We will also explore the role of blockchain in enabling micropayments and real-world applications of this dynamic fusion, offering a glimpse into possibilities for the future of drone payments. So, as we explore drone payments and blockchain's pivotal role, keep in mind the ever-evolving landscape of the drone industry and the promise of blockchain technology to address these needs. It's a story of transformation, efficiency, and the unlimited potential of human ingenuity meeting technological innovation. The author acknowledges a vested interest in the organization(s) highlighted in this story. However, the views expressed within are delivered impartially and without bias. Disclosure: Integration of Web3 Infrastructure Web3, in essence, represents the next phase in the development of the internet. It is a decentralized, peer-to-peer network that strives to move beyond the limitations of the current web (Web2). Web2 comprises intermediary platforms and services that control and monetize user data and interactions. Web3, on the other hand, aims to give users more control over their data and enable direct interactions without relying on intermediaries. In the context of drone payments, the adoption of web3 infrastructure is significant for several reasons. Firstly, it aligns with the decentralized nature of blockchain technology, creating a seamless marriage between the underlying payment system and the overarching framework for drone operations. This alignment fosters a more efficient and autonomous ecosystem where drone operators, infrastructure providers, and landowners can engage in secure, direct transactions without intermediaries. By incorporating web3 infrastructure, the drone industry sets the stage for a more agile and responsive payment ecosystem. It caters to the current requirements of drone operations and anticipates and accommodates future developments. This forward-thinking strategy ensures that drone payments are efficient for today's needs but adaptable to tomorrow's transformative technologies. How Blockchain Enables Micropayments Let's examine how blockchain technology is changing the game regarding enabling micropayments within the drone industry. It's a pretty exciting development, and here's why: Blockchain is at the heart of this transformation, making micropayments economically viable in a way that traditional payment systems often struggle with. Micropayments, those tiny transactions involving fractions of a cent, are essential for many drone operations. Whether it's paying for data transfers, microservices, or compensating for the use of drone infrastructure, these small payments add up. The issue is that traditional payment systems tend to slap on disproportionately high per-transaction fees. In some cases, these fees can surpass the actual value of the micropayment, making many of these transactions financially impractical. For example, which is too high for transactions that may only cost a few cents. PayPal's micropayment merchant fee is 5% of the transaction and $0.05, with Stripe charging $0.30 Enter blockchain technology. Its innovative structure removes this hurdle by enabling almost fee-less micropayments. Since blockchain networks operate in a decentralized manner, there are no middlemen like banks or payment processors, significantly reducing transaction costs. This makes micropayments possible and a cost-effective choice for all players in the drone industry, be it operators, infrastructure providers, or landowners. Not only does blockchain make micropayments economically feasible, but it also does away with the high per-transaction fees that plague traditional payment systems. These fees aren't just a financial burden but also create logistical headaches, adding complexity to everyday operations. Moreover, blockchain networks usually have a clear and flexible fee structure, allowing users to set transaction fees. This effectively eliminates those high per-transaction fees that have been a roadblock for micropayments in the drone industry. This elimination of high fees is a game-changer, making financial operations within the drone ecosystem much smoother. It simplifies revenue-sharing arrangements, compensation for services, and the monetization of drone ground stations. In essence, blockchain technology is paving the way for a more efficient, cost-effective, and hassle-free system of micropayments, which is essential for the growth and sustainability of the drone industry. Real World Applications Applying blockchain technology in drone payments is not a theoretical concept; it has already found real-world implementations that demonstrate its practical benefits. In a recent partnership, to create the world's first drone delivery corridor in Berlin, controlled by Web3 technology. Vantage Towers AG, Staex, and Electric Visionary Aircrafts are collaborating This collaboration aims to make drone deliveries in metropolitan areas more reliable and safe for consumers. When it comes to infrastructure, this will be provided by Vantage Towers alongside vertiports for future drone operations, while Staex will ensure secure communication between humans and drones. EVA will bring expertise in drone infrastructure development. One of the collaborators, Staex's RISE project aims to leverage technology for problem-solving and to create new opportunities for all stakeholders. The protocol uses customized payment infrastructure designed to cater to the specific requirements of drone infrastructure providers, landowners, and drone operators. It also utilizes blockchain technology, specifically the Lisk blockchain, to enable micropayments, contrasting traditional systems burdened with high transaction fees. For example, according to a study by Deloitte, blockchain can reduce transaction costs by up to 40%. Micropayments can be settled in real-time or near real-time, allowing immediate compensation for services rendered. This can be especially important in a dynamic environment like drone deliveries, where responsiveness and quick settlements are critical for operational efficiency. Vantage Towers will set up drone ports near their radio towers through this partnership, facilitating convenient take-off, landing, and recharging options. The proximity to radio towers may lead to more reliable drone connections, potentially enhancing the efficiency and safety of goods transportation in urban areas via drones. The Future of Drone Payments Speculating on the future of drone payments, it becomes increasingly clear that blockchain technology can potentially play a transformative role in shaping the payment landscape within the drone industry. Blockchain's role could not merely be one of facilitation but possibly a catalyst for innovation and expansion. In the future, we can anticipate a landscape where drone operators, infrastructure providers, and landowners are seamlessly connected in a decentralized network, enabling swift, trustless transactions. Blockchain's role as an enabler of micropayments, ensuring that even the smallest financial transactions are economically viable, can empower various aspects of the drone ecosystem. Whether it's data transfer fees, compensation for drone services, or monetization of ground stations, blockchain technology will allow for the efficient exchange of value. This, in turn, could unlock new revenue streams, fostering sustainable partnerships and business models within the drone industry. Moreover, integrating web3 infrastructure into drone payments can open new frontiers for innovation. The ability to securely transact and communicate in a decentralized environment, paired with the Internet of Things (IoT) capabilities, offers boundless opportunities. With their growing autonomy, drones will seamlessly engage in financial transactions, enhancing their role as versatile tools across industries. Potential innovations and advancements in drone payments are vast and promising. The introduction of smart contracts, self-executing programs with the terms of the contract directly built into code, will automate and streamline payment processes. These contracts automatically trigger payments when predefined conditions are met, making complex revenue-sharing models and compensation structures more straightforward and efficient. Furthermore, blockchain's scalability, a challenge addressed in recent years, will allow for processing many transactions even during peak drone activity. This will ensure that payments are executed promptly and without delays, a crucial aspect for real-time services like drone deliveries, inspections, or data collection. In Closing As we glimpse the horizon of drone payments, it is evident that the fusion of blockchain technology and the drone industry is poised to revolutionize the way transactions occur in this dynamic landscape. The integration of web3 infrastructure presents a foundation for secure and direct exchanges, while blockchain's ability to enable cost-effective micropayments eliminates the financial obstacles that have long hindered progress.

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