Tag: crytpo

Is Polkadot the fourth Largest Cryptocurrency?

According to CoinMarketCap data, Polkadot (DOT) surpassed its ongoing recent gains both by Bitcoin (BTC) and Ethereum (ETC) to rise as the 5th biggest cryptocurrency by market cap.

Take a look at the explosive growth of decentralized finance, or Defi, this year, and it’s clear why Ethereum is dominating so many discussions in the enterprise space right now.

The native cryptocurrency of the second-largest blockchain, ether (ETH), is up 266 percent this year, more than twice as much as the soaring bitcoin (BTC).

However, many savvy digital-asset investors are hedging their bets by purchasing tokens connected with upstart blockchains that have the potential to overpower its Ethereum network, which is called the “world computer” due to its efficiency and programmability. A dot (DOT) of the Polkadot blockchain, whose co-founder Gavin Wood was a co-founder of Ethereum, also is such a token.

Polkadot is built around the idea of “parachains,” which are blockchains that can process many transactions per second than Ethereum due to their more sophisticated design. The word is brief for “parallel blockchains,” as per Peter Mauric, at Parity Technologies.

Developers, as per Polkadot investors, have used Moonbeam, a Boston firm that has designed its para chain to resemble a toolkit familiar to Ethereum developers. Interlay, which plans to launch a wrapped bitcoin project called “PolkaBTC” in 2021, and cross-chain liquidity supplier Balance, this will be the first Polkadot project, are two results presenting use cases to Polkadot.

Polkadot’s able to develop new blockchains is compelling from an investment standpoint, according to van Schreven.

Having supported Ethereum, van Schreven believes Polkadot’s “blank slate” will allow it to offer users brand-new robustness, certainty, and governance features.

The Polkadot platform’s token, DOT, performs three functions. It is staked to provide security for the relay chain, to be bonded to connect a chain to Polkadot as a para chain, and to be used for network governance.

All of this could lead to more developers adopting the network, which is one of the drivers for Ethereum’s growth, and Polkadot’s parachains would bring the advantage of that fact.

On even a week – average, Polkadot increased 49.74 pct, while at press time, Bitcoin and Ethereum increased by 0.49 % and 9.29 %.

DOT is raging right now, as it rises to the 4th spot in the market cap rankings. Even as the cryptocurrency exchange rally continues, there have been many significant movers and Polkadot’s DOT token is one of those.  DOT has reversed Ripple’s XRP in market capitalization, per the data from leading analytics platform Coingecko, after a huge rise of 26 % 24hrs. This offers it, on market value, the current fourth-largest cryptocurrency.

DOT’s market cap currently stands at around $13.45 billion, while XRP’s at about $13.28 billion.

“POLKADOT HAS THE POTENTIAL TO BE THE NEXT ETHEREUM IN COMING YEARS!”

In recent days, its dramatic rise in the value of DOT, over 50% in the last 7 days, further propelled its market cap to greater levels. As per CoinGecko, DOT is currently selling for around $ 15, whereas XRP is at around $ 0.28.

Polkadot is also a proof-of-stake blockchain network and an Ethereum competitor. Ethereum co-founder Gavin Wood developed the protocol and came online in May last year. It aims to solve the robustness and integration challenges of Ethereum.

For Decentralized Finance (Defi) investment purposes, Polkadot is now the most convenient alternative to Ethereum. Approximately 19 % of Defi projects that earned venture funding were focused on Polkadot between September to November 2020.

For now, as its owner, Ripple, is battling a legal dispute with the U.S. government, XRP is under pressure. The Securities and Exchange Commission reported last month that Ripple and two of its employees, CEO Brad Garlinghouse and co-founder Chris Larsen, were involved in unauthorized securities deals.

Polkadot also can analyze data more accurately, enabling decentralized applications that run without experiencing challenges of extensibility. In the future, alongside dApps, the crypto is likely to promote massive Defi protocols.

To understand, Polkadot is soaring, steadily, which could mean a good leap. It will be exciting to see where its value reaches in 2022.

Also read: Does Bitcoin in Business have a future?

 

All you need to know about Next.chain

Ethereum has ushered along a new frontier of decentralized financial applications that are fully permissionless, open, and transformative in several aspects.  It has done so, however, on a trial basis and at a significant cost. Ethereum offers a platform for these decentralized applications to also be

constructed on, but it has not been equipped for widespread adoption. 

On the Ethereum network, simple transactions can cost up to $10, and communicating with smart contracts can be many times more costly. Though Ethereum’s undeniable popularity has resulted in a

massive Defi community as well as large amounts for both decentralized exchange and the total value 

stored, its infrastructure is certainly not equipped for high deployment. 

This is where NEXT. chain enters the picture. NEXT.chain is built on the foundations of pioneers like 

Ethereum and Bitcoin to build a Defi-ready chain that businesses and customer’s requirements use for 

all their decentralized finance needs. 

Next. chain is a powerful instant-transaction blockchain built on top of the Bitcoin core and augmented 

with features including tokenization and master node cryptographic protocols. 

Smart contracts on the Next. chain allows the user to:  

  • Offer digital exchangeable assets such as shares, bonds, and other types of securities. 
  • Generate a range of collectibles (nonfungible tokens). 
  • Build and manage decentralized/sovereign attributes. 
  • Other types of arbitrarily defined smart contracts can be built and run. 

Why NEXT.Chain? 

So, what distinguishes NEXT.chain from its competition? The project is based on Bitcoin-core, but it adds several new qualities and functions, such as a Proof of Stake consensus system and a Masternode network, that build on a framework of very well, proven technology. It validates for faster transaction

speed and privacy-enabled exchange. 

Also, it enables this to tap into the Bitcoin mining community by offering a merge mining choice, which encourages even community members and developers to get and expand on NEXT. It’d be amplified by

the addition of an API for third-party integration. 

Has Next.chain already deployed?

We chose the combination of becoming a proof-of-work and proof-of-stake blockchain with master node validators. The Next. chain has been running in the manner since April 2019 and has grown already to 200 master nodes. This enables us to achieve high transaction speeds like a PoS network (which Ethereum 2.0 is aiming to achieve and which we already have). Still, we also keep PoW in place to ensure that miners calculate hashes with strong encryption. Hence there is a lot of scope in next.chain.

Is Supply Chain Management and blockchain the Future?

Supply-chain expansion is being accelerated by breakthroughs. Blockchain in the supply chain has the potential to increase transparency and regulatory compliance while cutting operating costs. Blockchain is one of the most revolutionary technologies changing digital supply chain management.

 

Blockchain has lately emerged as a key possibility for unwinding all of the data, paperwork, and communication interactions within the ecosystem as supply chains become increasingly intricate, encompassing a wide range of applications and relying on various counterparties.

 

In today’s modern Supply Chain Industry, what role does blockchain play?

In the vast majority of cases, today’s modern supply chains operate at high volumes without the use of blockchain technology. Despite these obstacles, the technology has attracted the interest of the information technology and supply-chain industries.

 

It has also sparked the publication of research papers and inspired current IT firms and start-ups to embark on successful development efforts. Let’s have a look at its distinguishing characteristics:

 

Fees for Transactions

When using Swift to make cross-border transfers, the pay commission is deducted after the payment has been completed — or, to be more precise, after the transaction has passed through several intermediate banks. In the case of blockchain, the fees are also known ahead of time.

 

Clarity

In the blockchain, there is no middleman, such as a bank or other financial institution. Even though the ledger is updated regularly, transactions are faster and more visible. Payment terms, such as payment identification, can be pre-programmed in real-time and made available only to authorized parties.

 

Flexibility

Due to its decentralized structure, blockchain does not have a single point of failure. Furthermore, all decentralized transactions are irrevocable and irreversible, significantly lowering the risk of fraud.

Although blockchain supply chain application scenarios are being developed, several successful 

implementations indicate that companies may gain positive impacts from blockchain, varying between 

productivity and greater efficiencies towards current organizational models, especially in the 

development of supply chain management outlined below: 

  • Purchasing 
  • Real-time visibility and authenticity 
  • Agreements and transfers in the information realm 
  • Manufacturing  
  • Logistics  

The supply chain will benefit from more open and precise end-to-end monitoring thanks to blockchain: 

Companies can automate physical assets and create a decentralized, permanent record of every transaction, enabling asset identification from development to distribution or final use. This enhanced supply chain transparency allows businesses and consumers further access.

For instance, Maersk and IBM are collaborating on cross-border, cross-party payments that will benefit 

from blockchain technology. 

Blockchain is a catalyst of change to the entire Supply Chain Industry in the way processes work- slow, 

manual, too many errors, missing paperwork, and much more. It is adding value by the power of transparency, regulating compliance, and reducing overall costs. 

Blockchain with supply chain development could be a powerful integration as early prototypes prove. 

Supermarkets will use blockchain for product safety and tracking in the upcoming years to maximize its 

transparency across manufacturing, value, and cleanliness. 

 

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