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Gasless Blockchains are Faking Volume and Overdrafting Their Ecosystem

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Just over half a year ago the entire cryptocurrency market entered a bear market. For public blockchains, the time leading up to the bear market was spent growing ecosystems and findings ways to distribute wealth among developers and users. Since the bear market started, a trend towards dApp games has begun.

Many developers have found solace in developing games that can produce some of the highest activity we have seen on blockchains, and likewise, users have found comfort in playing fun dApp games, many of which come with crypto incentives – not a bad way to wait out the crypto winter.

However, looking at DappRadar, if you take the number of transactions or total price volume in the past 24 hours and divide it by the number of users, through simple calculation you will uncover the abnormally high numbers per user for many of these games. Suspicious you should be, as reports by blockchain security company PeckShield in December uncovered this activity comes from a small portion of accounts, pointing to the probability of fake volume.

Fake volume mostly occurs on public blockchains without a gas fee [or with a tiny gas fee], which with false marketing can help create the misunderstanding that this volume is good for the development of the blockchain and the token. This is fake news – fake volume is an overdraft of the ecosystem in which genuine developers and users do not reap the benefits of the blockchain. However, with a gas fee, we can make blockchains which reward both developers and users for the genuine activity they create.

Gas, synonymous with utility tokens, are used in blockchains for paying transaction fees or rewarding miners, just as we see in early blockchain projects such as Bitcoin and Ethereum. As blockchains have evolved, we have seen a more advanced use of gas, such as in Ontology, NEO, Cardano, and so on, where it is used for on-chain transactions, smart contract deployment, and more.

Meanwhile, with blockchains such as EOS and TRON, the same actions require collateralizing tokens to acquire network resources. Below are the advantages and disadvantages of blockchains which use gas. Let us take a more considered decision when choosing which public blockchains to support.

 Advantages of gas

  1. Rewards miners/nodes

Whether it is Bitcoin, Ethereum, Ontology, NEO or other public blockchains, all require compensation for computing and storage.

  1. Simplified economic model

Blockchains without a gas model require case-by-case, complex fee structures for dApp developers to earn an income. With a gas model, this process is simplified and incentivizes developers to make good dApps which users actually use.

  1. Prevents malicious acts

If there is a gas fee to pay for transaction fees the likelihood of DDOS attacks is greatly reduced as they become expensive to execute.

  1. Prevents fake volume

Likewise, if there is a gas fee, the fake volume is costlier. This allows good dApps which create activity naturally be recognized.

  1. Supports growth

The gas model creates the need for users to purchase and hold tokens long-term [many tokens gradually unbind gas to holders, such as with Ontology].

Disadvantages of gas

  1. Gas price fee

If gas fee prices are not adjusted in accordance with the market, it will have negative consequences on the use of the blockchain.

  1. Complexity

Introducing a second token to a blockchain makes things a little more complex, which can make the blockchain less user-friendly if not implemented well.

Source. ambcrypto

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Bitcoin

TRON (TRX) Long-Term Price Forecast- February 17

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TRX/USD Long-term Trend: Ranging

Supply zone: $0.0400, $0.05000, $0.0600
Demand zone: $0.01000, $0.00800, $0.00600

Tron long-term outlook remains in a range-bond market. The bears return predicted in last week analysis remained strong within the range. The two EMAs were broken as the bears continue the downward journey.

TRXUSD dropped initially to $0.02448 and later to $0.02360 in the demand area. This was the low of the week on 14th February.


With price below the two EMAs crossover and the stochastic oscillator signal in the oversold region pointing up at 8%. It suggests a minor push to the upside before downtrend continuation within the range.

TRXUSD is in consolidation and trading between $0.02881 in the upper supply area and at $0.02142 in the lower demand area of the range. A breakout at the upper supply area or breakdown at the lower area followed by a retest may occur hence patience is required to allow this to happen before a position is taken.

Source.bitcoinexchangeguide

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Blockchain

New Ripple Insights Post Shows New Generation Of Blockchain Workers Getting Support From Fundação Getúlio Vargas In Brazil

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New Generation Of Blockchain Workers Receives Necessary Support And Education From Fundação Getúlio Vargas In Brazil

Blockchain technology is growing every day, and the only way to keep up the pace is to have new developers learn the technology and seek out ways to improve it. However, before that innovation can happen, the industry needs more people that understand blockchain technology, which is what Sao Paulo’s Fundação Getúlio Vargas (FGV) is working towards.

FGV is one of the leading universities in Brazil, and they offer the University Blockchain Research Initiative, which was recently developed by Ripple. Professor Riccardo Rochman of the university spoke with Ripple on a recent issue of their Insights blog to discuss the way that their Crypto Master’s Program is readying blockchain entrepreneurs and leaders for the future.

The topics of blockchain and cryptocurrency are necessary research topics in Brazil, considering the role they play in the evolving economy. In Rochman’s opinion, blockchainhas the potential to overthrow the current protocols that exist in business and economics, ultimately empowering the people of Brazil.

Presently, the Brazilian Development Bank (BNDES) uses blockchain and a proprietary cryptocurrency as a way to fund local businesses. Considering this use case, Rochman pointed out that the new paths being made for blockchain technology will make the environmentally friendlier and needier of the new workers and entrepreneurs with a fresh take of the fintech.

A major part of this future vision is UBRI, which Rochman says is helpful in bringing in more students to the program. In fact, he has noted that there has been an increase in the number of research proposals on blockchain, along with new dissertations.

With the funding, FGV has been able to work with private firms as well. They have also been responsible for the networking that has been set up with other UBRI-funded universities. The cooperation of these networking relationships is now is what will pivot the blockchain community forward. Last year, Rochman even was part of the launch of the Master’s Degree in Crypto Finance, which had never been done before now.

When the program originally began, there were about 20 that enrolled in the first course that they made available, while 250 joined the Master’s Program. The numbers have grown exponentially since then, and there have been many new students immediately enlisting in the program. Rochman views the work that the university is doing as a way to change Brazil and eventually the rest of the world.

Source.bitcoinexchangeguide

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Blockchain

Glitch Goons Is The Newest And Hottest Blockchain Powered Game In Town

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One of the first multi-blockchain technology supporting mobile games of its kind, Glitch Goons is a definite win when it comes to blockchain technology progressing. It features very futuristic elements such as a “vaporwave saturated atmosphere” and insane cyborg slash animal slash human characters engage in glorious battle to survive on a dying world.

 

The game which was released in late 2018, supports a wide variety of crypto technology. supporting a whole range of cryptocurrencies.

The premise of the game is simple. It is set on Earth in the year 2690 where nuclear war has resulted in most species being wiped off Earth. Now the survivors live underground where life is hard due to a lack of oxygen and water. In order to survive, they must battle other survivors in order to make it to a newer colony on a distant planet called Garthorix.

To make their way to the transport system called the ‘Transposition Channel that transfers human minds to a selected ‘carrier’s’ body on Garthorix.

This 80’s inspired trailer is giving us major Mortal Kombat and Street Fighter feels, very reminiscent of the popular retro gaming vibe.

The official Glitch Goons website also features a brief look into the backstory and history of the entire realm and also has comics.

This fighting game also allows players to upgrade and customize their characters through cyrpto coins and 1 GC equals around 0.005ETH.  Although the game play isn’t the best, the story and the applications of blockchain inspired technology makes this game worth playing.

Other than different characters, players can also buy chests that contain 5 items each, ranging from rare and legendary gear which includes armor, boots, weapons, helmets, pants, jewelry and even modification chips.

Source:blockpublisher
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