Simply put, smart contracts are blockchain-based algorithms that execute when certain criteria are met. They are often used to automate the implementation of a contract so that all parties can be certain of the conclusion right away, without the need for an intermediary or additional delay. They can also regulate a process so that the following action is executed when circumstances are met.
By eliminating the need for a middleman, legal system, or outside regulation through smart contracts, anonymous parties can carry through operations and agreements without paying any costs to these third parties and foster frictionless business practices.
They have altered the entire world. Smart contracts are perhaps the most important breakthrough since the discovery of the World Wide Web.
The Non-Fungible Tokens (NFTs) business has grown to become a crypto sector valued at $2.1 billion, and OpenSea has played an important role in the expansion of its use around the world. OpenSea was established in 2017 and has already facilitated more than $20 billion in NFT volumes from over 2 million collections. In addition, … Read more
After successfully launching the Solana ecosystem a year ago, authentic 90’s gaming and collectibles firm POG Digital NFTs is getting ready to launch on the Ethereum blockchain, the largest DeFi ecosystem. POG Digital claims (1) that the minting of NFTs on the Ethereum platform will begin on April 6 with a quantity of 4,444 units. … Read more
Previously, Crédit Agricole CIB and SEB made a joint announcement regarding the launch of so|bond, a new public blockchain-based platform. According to the release (1), the platform’s primary objective will be to enhance the effectiveness of issuing digital bonds, albeit with a modicum of attention paid to environmental considerations. That is to say, although the … Read more
The decentralized KuCoin Wallet is transitioning from its previous state as a straightforward Web 3.0 wallet to one that is capable of operating on a social finance (SocialFi) scale. The news regarding the rebranding was made on Monday, and it states that as of right now, KuCoin Wallet will be known as Halo Wallet. This … Read more
The OKX crypto exchange, a Seychelles-registered bitcoin firm currently ranks in daily tradable volume, has revealed the debut of an interactive metaverse consumer experience that has been given the name Train Like Dias. Football fans will have the opportunity to intimately engage with Dias and discover the training approaches and coaching suggestions that he has … Read more
Wakweli, a company that provides infrastructure services for Web 3.0, has signed a strategic collaboration agreement with Polygon, a layer-2 protocol that is based on Ethereum. Wakweli will expand its Non-Fungible Token (NFT) certification system to Polygon for the benefit of all applications based on the protocol, according to the terms of the agreement contained … Read more
LVMH, a corporation specializing in the production of luxury goods, has asserted that blockchain technology is essential for luxury companies to enhance the product lifecycle. “When discussing luxury, you are dealing with long-term products, repair, and care,” asserts Franck Le Moal, the Chief Information Officer (CIO) of the luxury goods giant LVMH. In addition, Le … Read more
On Thursday, March 23, creditors of the defunct cryptocurrency exchange FTX submitted a petition to the bankruptcy court requesting a 95 million dollar share in the Web3 company Mysten Labs, based in Delaware. The cryptocurrency trading platform FTX has managed to stay afloat to make good on its promise to compensate consumers who were adversely … Read more
Polygon has been chosen by the South Korean video game conglomerate Nexon to handle the Web3 connectivity of its MapleStory World. Reports indicate that the video game publisher with headquarters in Tokyo intends to establish (1) a Polygon supernet in order to provide support for the in-game content associated with MapleStory Universe. According to recent … Read more
Non-fungible token (NFT) marketplace Magic Eden is getting ready to introduce (1) a Bitcoin NFT marketplace that has been thoroughly inspected. This comes at a time when Bitcoin-based Ordinals NFTs are becoming a more popular investment option. Traders will be able to purchase inscriptions, which are NFTs that are coined using Bitcoin’s satoshis, via the … Read more