[Bibox]How crypto tokens (but not Bitcoin) will outperform stocks in 2023 — Arca’s CIO explains
Digital assets will largely decouple from traditional equity markets in 2023, believes Arca chief investment officer Jeff Dorman. Discussing his outlook for 2023 in a recent interview with Cointelegraph, Dorman argued that as the global economy enters a recession this year, equities will be negatively affected while some cryptocurrencies will perform well. The value of the latter, he explained, is determined not only by macroeconomic factors but also by their utility within their respective ecosystems, which would remain unaltered in a recession. “You’re going to see a lot of stocks get punished under the weight of restructurings and under the weight of lower revenues and lower cash flows," said Dorman. “And you’re actually going to see a lot of tokens do really well.” However, crypto’s decoupling process from equities may not involve Bitcoin which Dorman believes will remain highly correlated to the stock markets given its high sensitivity to macro factors such as global liquidity and interest rates. “Bitcoin has just become a 24/7 VIX. It's just a trading vehicle now for large funds who want to get in and out of risk on weekends and overnight trading hours,” Dorman stated. Click here todownloadIOS or Android version APP Bibox community Telegram:https://t.me/BiboxExchangeEnglish Twitter:https://twitter.com/Bibox365 Facebook:https://www.facebook.com/Bibox2017
Update time: 2023.01.17 10:32:09
[Bibox]How Polygon Hard Fork Will Boost Network Performance and MATIC Price
The Polygon PoS chain is preparing for a significant upgrade on Jan. 17, through a hard fork aimed at improving performance and predictability. The proposed changes include reducing gas spikes and addressing chain reorganization issues that have been identified by the community and the Polygon team as priorities for the network's development. Besides the fork, Polygon (MATIC) has had an otherwise impressive start to the new year as well, with a series of high-profile partnerships and launches with massive names like Disney and Reddit, as well as the launch of its web3-focused incubator with Mastercard. The MATIC token is currently up 14.12% in the last seven days and is up 1.4% over the past 24 hours as the wider crypto market rally stalls for the time being. Polygon (MATIC) Hard Fork Details The changes proposed by the hard fork aim to reduce the severity of gas spikes and address chain reorganization inefficiencies in an effort to reduce time to finality (the amount of time it takes for a transaction to be considered final and irreversible on the blockchain). The first proposed upgrade aims to reduce gas spikes by changing the BaseFeeChangeDenominator from 8 to 16. This will help smooth out the increase/decrease rate in the base fee (the minimum fee for block inclusion) when the gas exceeds or falls below the target gas limits in a block. The reasoning behind this change is that when the chain experiences high demand, the base gas fee experiences exponential spikes, which are not normal or good during surges in demand on any blockchain protocol. So, by increasing the denominator from 8 to 16, the growth curve can be flattened, resulting in a more seamless experience when interacting with the chain. The second proposed upgrade addresses chain reorganizations (reorgs) by decreasing the sprint length from 64 to 16 blocks. What's a sprint and how does this impact the network? When validators produce blocks, they do so in a sequence called a "sprint". The sprint length refers to the number of blocks produced during a single sprint. By reducing the sprint length, the time a validator continuously produces blocks decreases, which in turn decreases the chances of a secondary or tertiary validator (who hasn’t discovered the primary) kicking in to produce blocks, resulting in fewer reorganizations ("reorgs") overall. This means a single block producer will produce blocks continuously for a much shorter time (~32 sec) than the current (~128 seconds). This will decrease the depth of reorgs, making the chain more predictable. What's a reorganization? A reorganization, or "reorg" is a change to the blockchain's history. It happens when a different chain that has more accumulated proof of work than the current chain is added to the blockchain. In a blockchain network, validators work to maintain the integrity of the chain by reaching consensus on the ordering of transactions. In a PoS staking protocol chain like Polygon, validators "stake" a certain amount of the native token to participate in the consensus process. In the event that validators come to a disagreement on the ordering of transactions, it can lead to a split in the chain, with different validators working on different versions of the chain. When this happens, the network will then "reorganize" itself to follow the chain with the most accumulated proof of work.Reorgs can happen for different reasons, such as a validator producing blocks on an old version of the chain, or a bug in the protocol which causes a chain split. They can cause confusion and unpredictability for users and developers, which is why the Polygon team is proposing changes to the sprint length, in an effort to decrease the depth of reorgs and make the chain more predictable. Click here todownloadIOS or Android version APP Bibox community Telegram:https://t.me/BiboxExchangeEnglish Twitter:https://twitter.com/Bibox365 Facebook:https://www.facebook.com/Bibox2017
Update time: 2023.01.17 10:29:35
[Bibox]Nexo sues Cayman Islands financial regulator over VASP license
The same week that Bulgarian authorities were raiding Nexo’s offices and indicting four individuals for charges related to money laundering, the crypto lender filed suit in the Cayman Islands. In a document dated Jan. 12, Nexo filed a lawsuit against the Cayman Islands Monetary Authority, or CIMA, for denying its registration as a virtual asset service provider (VASP) in the island nation. The crypto lender asked the court to overturn the financial regulator’s decision as it was “suitable” to provide crypto services to Cayman Islands residents. According to court documents, Nexo applied to CIMA in January 2021, providing additional information at the request of the regulator. However, the monetary authority asked for clarification on the application last October, citing “certain legal and regulatory matters as noted in the news media” that Nexo had not disclosed. It rejected the application in December. “The Authority breached its constitutional and statutory duty to provide comprehensible, satisfactory and sufficiently detailed reasons for its Refusal Decision,” alleged Nexo. Nexo claimed that CIMA had placed “too much weight” on regulators posing enforcement actions on the crypto lender, citing incidents in United Kingdom courts. State-level regulators in the United States also filed cease and desist orders against Nexo in 2022, but Nexo says in its lawsuit that this doesn’t mean it acted improperly: “[Nexo] had diligently cooperated with all US states and federal regulatory inquiries and has been proactive in maintaining dialogue with the respective regulators [...] There have been some regulatory ambiguities with respect to the laws and regulations applicable to digital assets in the US such that the fact of the regulatory enforcement itself does not connote any improper behaviour.” Click here todownloadIOS or Android version APP Bibox community Telegram:https://t.me/BiboxExchangeEnglish Twitter:https://twitter.com/Bibox365 Facebook:https://www.facebook.com/Bibox2017
Update time: 2023.01.17 10:27:43
[Bibox]Opinion: 2023 is a ‘buidl’ year for crypto gaming
2022 was a huge year for the play-to-earn (P2E) gaming scene. An influx of capital and users was followed by a sharp downturn in blockchain game token prices and a decrease in players — and the market is still reeling. And, with fallout from the FTX disaster reaching into every corner of the industry, play-to-earn’s prospects seem bleak on the surface. But peeking under the hood, the numbers tell a different story: Strong funding this year has set the stage for serious “buidling” in 2023. Bibox reported. A consistent flow of strong raises for Web3 gaming studios has been silently infusing the market with funding for months. In August, UnCaged studios raised $24 million, contributing to nearly $750 million raised by Web3 gaming studios in that month alone. The momentum continued through September when Revolving Games raised $25 million, and October, when Odyssey Interactive, Stardust and SkyWeaver pulled in $19 million, $30 million and $40 million, respectively. Thirdverse raised $15 million for Web3 and virtual reality (VR) games in November; These numbers directly contradict the plunging asset prices and player enthusiasm about the Web3 gaming space. But even as gamers and tokens falter, venture capitalists are betting big on the future of blockchain gaming. Which studios will win out in the year ahead? And why? Instead of gambling on speculation, VCs are betting on experience One noteworthy element throughout the raises that have taken place in recent months is that the majority of studios that have received funding are not conducting seed or pre-seed rounds. Rather, they’re holding Series As. Of course, there are exceptions to this rule. Some studios have successfully completed seed or pre-seed rounds. But even then, their founding teams have serious gaming experience. For instance, Ruckus Games, which recently raised $5.5 million in seed funding, is a game studio started by former Gearbox and Riot Games developers. This indicates that VCs are focusing on studios with gaming experience — a departure from the early days of Web3 gaming. How blockchain gaming investments were allocated in 2022. Source: DappRadar During that early period, many Web3 gaming projects received robust funding without having a clear roadmap toward the launch of their products nor founding teams with the proven experience to make it happen. Indeed, the YOLO days of late 2021 and early 2022 are long gone. Today, the studios that are receiving funding already have a level of proven success building Web3 games. VCs are now thinking farther into the future, even as far as five to ten years down the road. While this timeframe may seem many lifetimes over in the crypto world, this horizon is normal for studios in the traditional gaming sphere. The shift to longer-term thinking also shows that studios are beginning to understand that individual games have shelf lives — and that investing in the studios that build the games is a more effective approach. How will crypto gaming change? Looking at these raises combined with long-term trends in Web3 gaming, we start to see that some patterns are beginning to shape the industry’s future. So what will the impact of all the raises be in a few years? We can certainly expect a strong emphasis on mobile gaming. In September, DappRadar reported that hyper-casual mobile blockchain games brought more than 1.7 million users from Web2 into Web3 gaming in a single week. With these changes underway, it seems likely that Web3 gaming will enter the “mainstream” and that within the next five years, the global index of the top 100 gaming studios will contain studios that have strong blockchain elements. Here’s to the long game We probably haven’t seen the last of the large-scale raises that have been happening in the Web3 gaming space these past months. The Web3 gaming hype cycle has officially passed, and the space is in “buidl” mode. And this time around, investors are interested in studios that are playing the long game (pun intended). This change in focus, combined with the significant fluctuations in the larger blockchain technology industry, will create new dynamics and opportunities for builders in the P2E market in 2023. Raised expectations from both players and funders will separate the wheat from the chaff. Priorities in 2023 and beyond will focus on quality over quantity. In the end, those who can create the most outstanding games will win. So game on. Click here todownloadIOS or Android version APP Bibox community Telegram:https://t.me/BiboxExchangeEnglish Twitter:https://twitter.com/Bibox365 Facebook:https://www.facebook.com/Bibox2017
Update time: 2023.01.17 10:18:30
[Bibox]XRP Rival Stellar (XLM) Turns Green as Commercial Bank Runs Pilot Program for New Digital Currency System
XRP‘s most prominent rival is rallying this week as a Ukrainian banking giant announces the results of using its blockchain in a new digital currency system pilot program. Stellar (XLM) is a multi-currency transaction network for storying and moving money across the blockchain. XLM, the Lumen, is the native cryptocurrency of the Stellar network. People can use Lumens as a bridge currency between two fiat currencies when sending money abroad. Stellar aims to move money quickly, at low cost and without any central authority. XLM is up by 13.4% this week as the general crypto markets pop. Stellar also announced four days ago that TASCOMBANK Hryvnia, one of the oldest banks in Ukraine, recently released the results of a study about issuing electronic money on the blockchain, using Stellar as its test network. According to the announcement, the study “highlights the advantages of issuing on blockchain.” Such advantages include more transparency, accountability, security, and confidentiality, in addition to lower costs per transaction and a higher throughput threshold. The test pilot focused on peer-to-peer and merchant payments to test “the issuance of electronic money on an open blockchain with asset-control capabilities for issuers.” Says Sergii Kholod, the First Deputy Chairman of the Board of TASCOMBANK, “As part of a pilot project we explored a new way of issuing and managing electronic money which could be a new generation means of payment for the citizens and organizations of Ukraine, their employees and clients, government institutions, and international organizations. The results of the pilot project presented the openness of the bank’s infrastructure to blockchain solutions in the future. JSC TASCOMBANK could provide an appropriate level of financial services using blockchain assets, taking into account all regulatory requirements.” Further commenting on the success of the pilot, the Deputy Minister of Digital Transformation of Ukraine, Oleksandr Bornyakov, says, “The results of the Pilot proved the key advantages of blockchain. In particular, fast processing and cost-effectiveness of transactions, accountability and transparency of the system, and also simplified access to financial services. The Ministry of Digital Transformation and TASCOMBANK are considering the approaches to the further market introduction of the blockchain-based payment instruments.” According to Denelle Dixon, the CEO and Executive Director of the Stellar Development Foundation, the test pilot confirms “that with an open source technology, innovators like TASCOMBANK, with the support of the MDT, can configure virtual assets that are secure, interoperable, and meet regulatory standards.” “We believe this pilot proves the real world solutions built on Stellar and sets the foundation for greater adoption of virtual assets in Ukraine.” Click here todownloadIOS or Android version APP Bibox community Telegram:https://t.me/BiboxExchangeEnglish Twitter:https://twitter.com/Bibox365 Facebook:https://www.facebook.com/Bibox2017
Update time: 2023.01.17 10:16:34