Connect with us

News

Cronos, Solana, And Polkadot Lag Behind BudBlockz In Growth And Innovation

Published

on


2022 was a roller coaster for all cryptocurrencies. Events like FTX’s downfall resulted in a crypto Winter, causing drastic declines in price charts of popular cryptos, including Cronos, Solana, and Polkadot.

The market condition shifted investors’ attention to new promising cryptos that are currently fetching exceptional gains, one of these emerging new crypto projects being BudBlockz (BLUNT) market share in the smart contract arena.

BudBlockz (BLUNT)

The global legal cannabis market was valued at USD 17.8 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 25.3% from 2022 to 2030.

The increasing rate of legalization of cannabis and acceptance of its use in the medical field are the key factors for which the market is expected to boom.

BudBlockz is building the world’s first decentralized online eCommerce for cannabis enthusiasts to access the global cannabis markets privately and securely.

BudBlockz (BLUNT) plans to connect its users with fractionalized ownership in farms, dispensaries, and CBD manufacturers.

It will also feature its NFT collection, known as the Ganja Guruz NFT Collection, which, when released, will add an even greater level of utility to the network.

The platform’s native token, $BLUNT, will power its ecosystem and drive many activities to grow the ecosystem through staking, governance, rewards, and voting.

Also, $BLUNT will play a crucial role in solving many issues cannabis companies and entrepreneurs face regarding fundraising, logistics, and data management.

The company offers another great opportunity for investors worldwide to become part of the platform’s success story through its ongoing presale stage.

Cronos (CRO)

Crypto.com is a decentralized blockchain platform developed by the Crypto.com payment, trading, and financial services company.

$CRO is the utility token for the Crypto.com exchange. CRO can be used to pay fees on the platform and staked to qualify for various benefits.

The platform saw significant growth last year, partly reflecting Crypto.com’s aggressive promotional activities. Like most crypto projects, CRO has struggled so far.

Crypto.com will allow users to buy and sell with fiat currency and debit cards, along with trading, lending, and borrowing. It also features a non-custodial wallet.

Crypto.com has its own problems. Within the U.S., Crypto.com is not available to New York residents. Also, expect to pay some hefty fees if you use a credit or debit card—as high as 4%.

While there are workarounds, like using ACH for transactions, not all banks can be connected to Crypto.com.

Solana (SOL)

Solana is an open-source blockchain platform that supports smart contracts, including non-fungible tokens (NFTs) and various decentralized applications (dApps).

Native to Solana’s blockchain is the SOL token, which provides network security through staking and a means of transferring value.

Anatoly Yakovenko created Solana alongside current Solana board member and Chief Operations Officer Raj Gokal.

Yakovenko came from a background in system design and wanted to apply his knowledge to a new blockchain paradigm that enabled faster processing speeds.

Solana (SOL) seems promising, but investors still need to decide about putting their money on the platform. Solana (SOL) has yet to make any progress in terms of price growth for a long while and is trending at a significantly low rate.

Polkadot (DOT)

Polkadot is a network designed to join the dots with all other crypto networks. It is commonly referred to as a multi-chain network because it can join networks together, unlike networks like Bitcoin, which operates on its own.

It aims to act as a framework for all blockchains that opt-in, like how HTML allows sites, browsers, and servers to interact.

The idea is to take care of costly and messy cryptocurrency mining processes (including validation of transactions and security protocols) and enable developers to focus on creating dapp and smart contract functionality.

Polkadot (DOT) faces high competition from decentralized applications, including Ethereum, Tron, the Binance Smart Chain and Cardano. Polkadot does face a difficult battle in acquiring 

Many experts have hinted that BudBlockz (BLUNT) is an important token to watch out for because it can potentially transform the cannabis industry. 

Use promocode: BUYBLUNT for a 20% bonus on your purchase. Valid until January 31st.



Source link

All Image and Text copyrights belong to their respective author at the
Source this is a syndicated feed of information for educational purposes.

DISCLAIMER:
Beneath Part 107 of the Copyright Act 1976, allowance is made for “truthful use” for functions corresponding to criticism, remark, information reporting, instructing, scholarship, and analysis. Honest use is a use permitted by copyright statute that may in any other case be infringing.”

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Solana (SOL) Sustains Second Week of Inflows as Blockchain Sentiment Improves

Published

on

By


According to CoinShares data, digital asset investment products saw $117 million inflows last week, the largest since July 2022, while total assets under management (AuM) have risen to $28 billion, up 43% from their November 2022 lows.

While the focus seemed to be almost entirely on Bitcoin, which saw $116 million in inflows last week, altcoins such as Solana saw inflows as well.

Solana is sustaining its second week of inflows as sentiment around its blockchain has generally improved. Solana investment products saw inflows of $1.1 million in the past week, surpassing those of the previous week, where inflows of $0.1 million were recorded.

Solana saw a remarkable rebound after declining over 42% in the wake of the FTX implosion. Once dubbed an “Ethereum killer,” Solana was once the darling of FTX co-founder Sam Bankman-Fried.

In late December 2022, Solana’s token price steadily declined before plunging by as much as 20% on Dec. 29. Following Ethereum founder Vitalik Buterin’s support tweet, SOL’s price has more than tripled since then.

The January price bump has seen the cryptocurrency reclaim the $26 level as its price has risen. According to CoinGecko data, SOL is up 1.3% in the last seven days and 149% higher in the last 30 days. The crypto asset traded at $24.58 at press time.

SOL reclaimed the 10th spot on the list of largest cryptocurrencies by market cap before losing this spot to Polygon MATIC at press time.

Earlier in January, Citi Research published its report on Solana, saying that activity on the blockchain remained high. It also noted that a handful of key metrics had returned to pre-FTX-collapse levels, suggesting relief for some users on the chain.



Source link

All Image and Text copyrights belong to their respective author at the
Source this is a syndicated feed of information for educational purposes.

DISCLAIMER:
Beneath Part 107 of the Copyright Act 1976, allowance is made for “truthful use” for functions corresponding to criticism, remark, information reporting, instructing, scholarship, and analysis. Honest use is a use permitted by copyright statute that may in any other case be infringing.”

Continue Reading

News

Solana-based Friktion urges users to withdraw funds as it halts front-end operations

Published

on

By


Solana-based DeFi platform Friktion has urged its users to withdraw their funds from the protocol, as it moves to suspend all frontend operations.

The Friktion team said it made the tough decision to suspend its operations due to the worsening financial crisis resulting from the FTX collapse and Solana’s repeated outages.

Specifically, the platform’s operating cost is said to be too expensive when compared to its profit and cash flow.

As a result, Friktion announced on Jan. 27 that it has disabled its frontend interface to prevent users from initiating new deposits.

However, the platform is in “withdrawal-only mode” to allow users to withdraw their Volt deposits.

“In the meantime, we strongly encourage users to withdraw funds as the Friktion user platform begins the process of sunsetting,” the Friktion team said.

Before the recent insolvency crisis, Friktion reached over $150 million in total-value-locked (TVL) on Solana and recorded about $3 billion in trading volume, DeFiLarma data shows.

The post Solana-based Friktion urges users to withdraw funds as it halts front-end operations appeared first on CryptoSlate.



Source link

All Image and Text copyrights belong to their respective author at the
Source this is a syndicated feed of information for educational purposes.

DISCLAIMER:
Beneath Part 107 of the Copyright Act 1976, allowance is made for “truthful use” for functions corresponding to criticism, remark, information reporting, instructing, scholarship, and analysis. Honest use is a use permitted by copyright statute that may in any other case be infringing.”

Continue Reading

News

Solana (SOL) Migrating to New NFT Standard in Next 60 Days

Published

on

By


Sharky.fi, an NFT lending protocol on Solana, has shared information on the migration to a new standard of NFTs.

As stated in a thread of tweets, Solana is migrating to “programmable NFTs,” or pNFTs. This refers to a new standard of NFTs introduced by Metaplex to help creators get their royalties back.

Metaplex refers to the Solana-powered protocol that allows for the creation and minting of non-fungible tokens, auctions and visualizing NFTs in a standard way across wallets and applications.

The new asset class, “programmable NFTs,” will exist alongside “normal NFTs” and may likely become the predominant standard for royalty enforcement going forward.

The pNFT standard would allow creators to decide which protocols their NFTs are or are not allowed to interact with. This would be achieved by modifying allow-and-deny lists.

According to Sharky.fi, most of the top marketplaces, AMMs, lending protocols and staking protocols are actively working on adding support for it. It further indicated that a decent chunk of the NFT collections on Solana might migrate there in the next 30 to 60 days.

Already Solana’s crypto wallet for DeFi and NFTs, Phantom has indicated support for the Metaplex royalties enforcement standard with programmable NFTs, saying “pNFTs represent a huge step forward for the ecosystem and its creators,” while adding it was on track for a Feb. 15 release across all platforms.

Programmable NFTs now deployed on mainnet

As stated on the official Metaplex Twitter handle, programmable NFTs have now been deployed on the mainnet.

It urges developers, marketplaces and wallets to use the latest stable version of token metadata to integrate the new pNFTs’ instructions.

It further adds that creators would only be able to upgrade existing collections to pNFTs with royalties enforcement when more than 50% coverage of the new asset class has been reached across marketplaces and wallets.





Source link

All Image and Text copyrights belong to their respective author at the
Source this is a syndicated feed of information for educational purposes.

DISCLAIMER:
Beneath Part 107 of the Copyright Act 1976, allowance is made for “truthful use” for functions corresponding to criticism, remark, information reporting, instructing, scholarship, and analysis. Honest use is a use permitted by copyright statute that may in any other case be infringing.”

Continue Reading

Trending

Copyright © 2022 Solanatimes.io