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.
In spite of the regulatory obstacles, Sky Mavis, the company that is responsible for the Play-to-Earn (P2E) heavyweight Axie Infinity, is planning to “double down” in South Korea and ramp up acceptance. Jeffrey Zirlin, the co-founder of Sky Mavis and growth lead, on August 9 at Korea Blockchain Week, that despite the fact that the … Read more
The past two weeks have been a rough ride for crypto hackers. The repercussions from the most recent hack of Solana have once again brought to people’s attention the significance of using, for example, hardware wallets. We now know that around 15,000 cryptocurrency wallets were affected and that approximately $4.6 million was stolen. Bridges have … Read more
Vitalik Buterin, the co-founder of Ethereum, thinks that none of the currently active initiatives by corporations to construct a metaverse are “going anywhere.” He cites Meta as an example of an initiative that he believes would “misfire.” Buterin said that while he believes “The metaverse is going to happen,” he does not believe that any … Read more
Blockchain games, as well as the Metaverse, were able to “circumvent” the “Lehman brothers-like” collapse of Terra in May, according to a report; however, decentralized finance (DeFi) or nonfungible tokens (NFTs) were not as fortunate. According to a report published by decentralized application (DApp) data aggregator DappRadar, the breakdown of Terra in May was comparable … Read more
According to new research, despite the prolonged bear market, the cryptocurrency industry has already raised $30.3 billion in funding, which is more than what would be raised in a full year of fundraising in 2021. According to a report published on August 2 by the crypto analytics firm Messari and Dove Metrics, the data reveals … Read more
On Friday, Binance announced that its Binance Card now supports three additional alternative cryptocurrencies. Card users now can access their holdings of Avalanche (AVL), Ripple (XRP), and Shiba Inu (SHIB) (AVAX). “Convert and spend cryptocurrencies in over 60 million online and physical stores” is something cardholders can do with the Binance Card. However, to qualify … Read more
Revolut, the largest unicorn in the UK, is expanding its crypto section at a time when many other cryptocurrency companies are announcing layoffs. According to Bloomberg, the company plans to hire new employees across its European, American, and British offices to fill positions in compliance, financial fraud preventative measures, crypto legal representation, and software development. … Read more
One Cool Group’s multimillion-dollar sci-fi action picture Warriors of Future aims to be the first Asian box office success to include a non-fungible token (NFT) collection. The NFT collection, which includes four different types of soldiers and 10,000 unique 3D avatars, is anticipated to be released on August 6. Additionally, the Ethereum (ETH) blockchain will … Read more
The trade volume of CryptoPunks, which is one of the most famous nonfungible token (NFT) collections in the industry, increased by 2,253 percent over the course of a single day on Monday. During that time period, a total of over 1,226.68 ether (ETH) worth of Punk NFTs was traded. The demand increase is related to … Read more
MonkeyLeague is a play-to-earn Web3 soccer game that was just released on the Solana blockchain. Recently, the company made an announcement regarding its relationship with BAYZ, a Brazilian Web 3.0 gaming DAO. As part of the agreement, MonkeyLeague has contributed a substantial quantity of NFT assets, which will be given away to the best players … Read more