Integration Promises Enhanced Privacy for Bitcoin.com Wallet Users Bitcoin.com, a leading platform for cryptocurrency users, announces its strategic partnership with the Data Ownership Protocol (DOP) to empower users with unprecedented control over their data within the Bitcoin.com ecosystem and beyond. This collaboration marks a significant milestone in the quest for data sovereignty in the crypto […]
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Ordinals Explorer Ord.io Nets $2M in Pre-Seed Round to Pioneer Next-Gen Bitcoin Services
On Wednesday, Ord.io, the Ordinals explorer, announced a million pre-seed funding achievement to pioneer the expansion of Runes. Leonidas, the founder of Ord.io, stated that the startup is strategically positioning itself to “serve the next generation of bitcoiners.” Ordinals Explorer Ord.io Receives M Boost In 2024, a significant number of startups connected to the […]
Bitcoin News
Cleartoken Secures $10M in Funding to Pioneer UK’s First Digital Asset Clearing House
On Monday, the crypto clearing house startup Cleartoken revealed that it raised million from strategic investors including Nomura’s Laser Digital, Flow Traders, and LMAX Digital. Cleartoken Nets M to Launch U.K. Digital Asset Clearing Services The horizontal clearing house for the digital asset market, Cleartoken, revealed that it’s raised million in order to […]
Bitcoin News
Bitcoin Pioneer Nayib Bukele Reelected in El Salvador by a Landslide
President Nayib Bukele, a pioneer in introducing the law that made bitcoin legal tender in El Salvador, has been reelected as president of the country in the ballot completed on Sunday. The Latam leader, who will reportedly continue implementing bitcoin-related policies, won by a landslide, scoring 85% of the popular vote.
Bitcoin Advocate Nayib Bukele Gets Reelected With 85% of the Popular Vote
Nayib Bukele, the current president of El Salvador, won the presidential election on Sunday by a landslide, an outcome that was predicted by mostly all local polls and reports. The leader, who has been vocal about his support of Bitcoin and introduced the disputed idea of establishing bitcoin as legal tender in a country for the first time, agglomerated the support of most of the Salvadoran society, scoring at least 85% of the popular vote.
Celebrating his victory, Bukele stated:
We have won the presidential election with more than 85% of the votes and a minimum of 58 out of 60 deputies in the Assembly. A record in the entire democratic history of the world.
Furthermore, Bukele invited the Salvadoran people to celebrate the victory in the National Palace.
Felix Ulloa, vice-president of El Salvador, had declared that if Bukele won the presidential ballot by a landslide, he would deepen the application of bitcoin policies, like the program of giving passports to bitcoin entrepreneurs and the issuance of the Volcano bonds, that would provide part of the funding for the construction of Bitcoin City, a planned tax haven for crypto companies.
Even with the popular vote on his side, Bukele’s reelection is surrounded by controversy, given that he received a leave of absence in 2023 to be able to be present at these elections as a candidate. A Bukele-controlled national tribunal established this was a requirement to be reelected back in 2021, a decision that was considered unconstitutional by his detractors.
Nonetheless, Stacy Herbert, director of the National Bitcoin Office (ONBTC) of El Salvador, remarked on the historic victory for the world’s democracy, informing that the previous all-time widest margin for a democratic election was 56.2% in Portugal in 1991.
What do you think about the victory of Bitcoin-friendly President Nayib Bukele in El Salvador? Tell us in the comments section below.
Bitcoin Downfall: Arthur Hayes Reveals What Will Make The Pioneer Crypto Fail
The former CEO and co-founder of crypto exchange BitMEX, Arthur Hayes, has shared his thoughts on what could lead to Bitcoin’s downfall. His recent comment also echoes the reservation that the crypto founder has about the potential launch of Spot Bitcoin ETFs.
TradFi Could Lead To Bitcoin’s Downfall
In his last article for the year, Hayes stated that TradFi asset managers would “completely destroy Bitcoin” if the ETFs managed by them were a huge success. He made this assertion as he alluded to Bitcoin’s uniqueness. Hayes mentioned that the foremost crypto token is different from “every other monetary instrument humanity has ever used.”
Due to Bitcoin’s uniqueness, Hayes believes that it wasn’t created to be in the hands of these asset managers. As such, they could end up destroying the crypto token, especially in a world where the world’s largest asset managers end up holding all the Bitcoin in circulation. If that were to happen, these firms would end up storing these crypto tokens, which shouldn’t be so in Hayes’ opinion.
The BitMEX co-founder noted that Bitcoin “only exists if it moves” and that it will “die” if it isn’t used. His stance stems from the fact that he sees Bitcoin more as an asset that is meant to be actively traded rather than just being a store of value. He also highlighted the fact that the Bitcoin network would also die if this were to happen.
Miners are known to earn transaction fees from the network being utilized. However, if these tokens were no longer traded but all stored up, these miners would have no choice but to wind up their operations. Without these miners, “the network dies, and Bitcoin vanishes,” Hayes asserted.
Hayes’ Reservations About A Spot Bitcoin ETF
Arthur Hayes’ latest comment comes ahead of a potential approval of the pending Spot Bitcoin ETF applications. The former BitMEX CEO has previously made his reservations known about these funds and their issuers. Then, he mentioned that these TradFi institutions weren’t bullish on Bitcoin but were simply making this move to become “crypto gatekeepers.”
Hayes also went as far as to discuss how these firms’ interest in Bitcoin goes against Satoshi’s vision of a decentralized system. However, unlike Hayes, some are looking to look at the bright side and how institutional interest in the foremost cryptocurrency can help with mainstream adoption.
Bloomberg Analyst Eric Balchunas had once touched on the importance of these Spot Bitcoin ETFs, especially considering that many could just choose to hold Bitcoin instead. In his opinion, these ETFs are important because of the convenience they provide investors. Meanwhile, others are excited about the amount of capital that could flow in when these ETFs get approved.
Decade of Resilience — A Look at 10 Pioneer Crypto Companies That Are Still Standing
Over 15 years have passed since Satoshi Nakamoto launched the crypto revolution with the release of the Bitcoin white paper. On the brink of January 3, 2024, the network celebrates a decade and a half of continuous activity. Though many companies folded in 2023, several of the original players remain in the game. This overview showcases some of the first crypto firms still in operation, detailing their business activities and longevity in the marketplace.
10 Companies Riding Out the Crypto Storms
This year witnessed the downfall of numerous big names in the industry, with others still reeling from the impact. Nonetheless, a considerable number of seasoned cryptocurrency companies have weathered multiple storms and remain in business. A select few of these firms have surpassed a decade of operation, sailing through with minimal turbulence, while other foundational businesses have faced challenges potent enough to threaten their existence. The subsequent overview provides insight into some of the most established digital currency enterprises that are operational to date.
Braiins Pool (formerly Slush Pool)
Established as Slush Pool and known today as Braiins Pool, this entity holds the title of the longest-running bitcoin mining pool, actively engaging in BTC mining operations. It was conceived by Marek Palatinus, popularly referred to as “Slush,” on November 27, 2010.
Palatinus is also known for his role in developing the world’s initial hardware wallet, Trezor. Currently, Braiins Pool is responsible for 0.63% of the Bitcoin network’s total hashrate, delivering 2.99 exahash per second (EH/s) in the past three days. Braiins has been in business for nearly 13 years.
Coinbase
Coinbase, rooted in San Francisco, began its operations in June 2012, thanks to founders Fred Ehrsam and Brian Armstrong. Over time, it has ascended to become one of the premier crypto exchanges globally. The company marked its transition to a publicly-traded entity on April 14, 2021, when it listed its Class A common stock on the Nasdaq Global Select Market under the ticker “COIN.” However, on June 6, 2023, Coinbase encountered legal hurdles when the SEC alleged the company operated as an unregistered broker, citing breaches of securities law. Coinbase has been operating for 11 years.
Canaan
In the realm of specialized ASIC chip manufacturing and bitcoin mining hardware, Canaan Inc. has carved out a significant niche. Launched in 2013 by founders Nangeng Zhang, Jiaxuan Li, and Xiangfu Liu, Canaan made a bold move by acquiring Avalon, the pioneer of the first ASIC mining rig, in the same year.
The company took a leap forward when it entered the public market on November 21, 2019, positioning itself as one of the first in the crypto mining sector to go public. Canaan recently celebrated the firm’s 10th anniversary with new machines.
Bitfinex
Bitfinex, a crypto exchange, was established in 2012 by French entrepreneur Raphael Nicolle and Italian businessman Giancarlo Devasini. The platform commands the second-largest bitcoin wallet, with 190,010 BTC in its cold storage.
Owned by Ifinex Inc., which also operates Tether Holdings Limited, the leading issuer of stablecoins, Bitfinex has been a player in the digital currency exchange space for over 11 years. The exchange endured a significant security breach in 2016 when it lost about 120,000 bitcoins. Despite this setback, Bitfinex recovered and reaffirmed its status as one of the top global crypto exchanges.
Blockchain.com
Blockchain.com, once known as Blockchain.info, was founded in 2011 by a team including Peter Smith and Nicolas Cary. The company provides a variety of services, including a block explorer for multiple cryptocurrencies, data analytics, and a digital wallet.
It also runs a trading platform. Blockchain.com has seen the creation of 87 million wallets from users in 200 countries since its wallet service began. The business has been operational for about 12 years.
Bitpay
Bitpay, a cryptocurrency payment service provider headquartered in Atlanta, was founded in May 2011 by Tony Gallippi and Stephen Pair. The company offers payment processing services for merchants to accept cryptocurrency. Bitpay introduced a Visa cryptocurrency debit card that was later rebranded in partnership with Mastercard.
In mid-May 2023, Bitpay announced the discontinuation of the Mastercard program, with plans to introduce a new card offering in the future. The processor continues to handle merchant payments and has been in business for 12 years.
Bitstamp
Bitstamp, a European cryptocurrency exchange, was established in 2011 by Nejc Kodrič and Damijan Merlak. For years, the exchange has enabled trading of cryptocurrencies against fiat currencies such as the U.S. dollar, British pound, and euro. Bitstamp experienced a hack on January 4, 2015, resulting in a loss of nearly 19,000 BTC.
However, akin to Bitfinex, the exchange recovered from the incident and has maintained its status as a leading trading platform. Bitstamp has been operational for more than 12 years since its launch.
Kraken
Kraken, based in San Francisco and founded in 2011 by Jesse Powell, Thanh Luu, and Michael Gronager, continues to operate today. The exchange, like Bitstamp, has long offered trading of crypto assets against fiat currencies.
While Kraken has not suffered any major security breaches in its history, it recently encountered regulatory issues with the SEC, leading to the discontinuation of its staking services. The exchange agreed to wind down the staking service and pay million in disgorgement, prejudgment interest, and civil penalties related to the case. Kraken has been operational for more than 12 years.
Bitmain
Bitmain, a manufacturer of Bitcoin ASIC mining rigs, was founded in 2013, paralleling Canaan’s inception. Micree Zhan and Jihan Wu established the company, but in 2019, Wu resigned as co-CEO. Known for creating Antminer mining rigs, Bitmain also launched Antpool, one of the largest mining pools globally by total hashrate. The company has been at the forefront of mining rig production for more than 10 years.
Satoshilabs (Trezor)
Satoshilabs, the creator of Trezor, was established in 2013, and its first hardware wallet, the Trezor Model One, debuted on July 29, 2014. Marek Palatinus and Pavol Rusnak are the founders. Despite competition in the hardware wallet market today, the company continues to operate among its peers.
The firm has recently launched the third version of its hardware wallet, which supports bitcoin, ethereum, and over 7,000 other digital currencies. The hardware wallet manufacturer has been in operation for a total of ten years.
The Crypto Graveyard Holds Many Names
The above roster of crypto firms has outlived the downfall of numerous competitors, with recent debacles involving FTX, Blockfi, Three Arrows Capital (3AC), Voyager Digital, Celsius Network, and Alameda Research. These calamities are in addition to earlier market blunders such as Mt Gox, Quadrigacx, Cryptsy, Mintpal, and Bitcoinica. Notably, the missteps of some of these digital asset companies have precipitated the collapse of others. Persisting in the volatile realm of crypto assets for over a decade is an accomplishment, especially in an industry where certainties are scarce.
What do you think about the ten veteran crypto firms that have managed to brave the many storms associated with the crypto world? Share your thoughts and opinions about this subject in the comments section below.
Harvard Business Review: Alchemy Pay, Crypto Payment Ecosystem Pioneer
Introduction. When we discuss the future of the digital economy and real life in the next generation of the Internet, we are inevitably talking about Web 3.0. The future is unknown, but we have seen some tech companies already exploring and deepening on their tracks, such as Alchemy Pay, mentioned in this article.
We will analyze the targeted strategies and measures it has taken in the crypto payment space, taking into account the company’s sustainable long-term goals while building a rich crypto payment ecosystem that is prepared for the Web 3.0 vision with its mission of bridging fiat and crypto global economies. These measures are very informative and should be considered by other company leaders.
Once seen by mainstream zeitgeist as a fringe technology destined to die out in society, cryptocurrency is now becoming a target of investment for countless fintech industry leaders since the powerful financial future it portrays. The proliferation of crypto payment platforms and users is driving the entire ecosystem closer to mainstream adoption. As more and more large financial companies enter the crypto payment space, the competition in this field is becoming increasingly fierce. Alchemy Pay, an industry veteran with extensive industry experience and solid product technology, is performing exceptionally well in this track on all fronts.
Founded in Singapore in 2017, the payment gateway that seamlessly connects cryptocurrencies and global fiat currencies for businesses, developers and users has walked a long way. It took less than 5 years to become the number one project with payment concept in the DeFi space and the leading crypto payment solution and technology provider in the Asia Pacific region. Alchemy Pay currently supports payments from 173 countries, including using Visa, Mastercard, Discover, Diners Club, Google Pay, Apple Pay, popular regional mobile wallets, and domestic bank transfers to purchase crypto, providing a fast, secure and convenient solution for over 2 million online and offline merchants with aggregated cryptocurrency and fiat payment technology. In 2021, ACH, Alchemy Pay’s token issued on Ethereum and BNB Chain, listed on Coinbase, the world’s largest compliant trading platform, continued to rise with an initial bottom of .001762 and rose over 13620.8% in the week after listing. How did Alchemy Pay achieve such an impressive performance in such a short period of time?
Layout in Advance to Gain Differentiated and Competitive Advantages
Shawn Shi, co-founder of Alchemy Pay, has a keen eye for capturing industry trends and assessing business potential. He saw the trend in the crypto payment field, found a head start in it, and boldly took the lead. The series of milestone decisions taken by Alchemy Pay are not only unique, but have built differentiated and competitive advantages that have kept it at the forefront of the competition. These milestone decisions are focused on three main areas:
Internationalization. Strategic placement has a direct impact on the survival and growth of a business. While competitors were still working on their local strategies and businesses, Alchemy Pay has recognized the importance of competing on an international strategy and thoughtfully chose a different set of approaches from its competitors. In its second year of establishment, Alchemy Pay incorporated an international strategy into its development plan to create a unique value.
Alchemy Pay was founded at a time when mobile payments were at their best, but the entire payment network was almost monopolized by VISA and Mastercard, which deprived traditional merchants of many options. Therefore, Alchemy Pay decided to create a payment system that would connect the entire network and develop the most adaptable digital currency solution that would seamlessly integrate crypto payments with fiat payments, providing payment services and derivative financial solutions to global merchants and users in the crypto ecosystem.
In this context, Alchemy Pay has been building a global team since its foundation and has established a advisory board management system in line with the company’s needs, implementing the corporate management philosophy of “leaving the professional to the professionals” and working together with experts worldwide from various industries to contribute to the global development of Alchemy Pay. David Plouffe, the former White House Senior Advisor and Obama’s campaign manager, has recently joined the Alchemy Pay team, serving as a committee member of management and advisory board, and as Global Strategic Advisor to support strategy, compliance and government relations.
In addition to the European and American markets, Alchemy Pay also explored and developed the payment market in South East Asia and Latin America based on market demand research, achieving the highest market share in the industry. Alchemy Pay is built as a payment gateway that seamlessly converts the assets of both parties to a transaction, regardless of whether the user is paying in fiat or crypto currency. Its product experience on the user side was simple and smooth, and its professionalism was way ahead of its Asian competitors at the time.
Compliance. While advancing its global market strategy, Alchemy Pay has recognized the importance of localized payments before its competitors. By continuously integrating localized payment methods such as e-wallets, Alchemy Pay is now able to support over 300 localized payment methods to meet the payment habits of local users and make it quicker for users to purchase crypto and Web 3.0 services using fiat currency. In the localization process, any actions involving financial and securities transactions and services are subject to local financial and securities laws and regulations. Although many countries allow cryptocurrency investment and trading, the related industries face stricter regulations.
While competitors try to avoid compliance constraints to reduce costs, Alchemy Pay believes that the only way to be sustainable is to adhere to the bottom line of compliance. With more and more countries introducing laws and regulations on data security protection and raising new requirements for the globalization of payment systems, greater data security and privacy protection is becoming a global trend. Alchemy Pay has been practicing the local compliance requirements in different countries and regions according to the specific situation, actively applying for licenses and landing business.
In addition to regulatory factors, the entry of companies and financial institutions has placed higher demands on cryptocurrency security and compliance, so licensed platforms have a distinct advantage in this regard. To date, less than 1% of web3 companies in the crypto payment industry have a license, but Alchemy Pay already has a large number of compliant licenses and payment channels. Currently, Alchemy Pay has obtained the 1,4,9 financial services license from the Hong Kong Securities and Futures Commission, the license from the Central Bank of Indonesia to operate remittances and fund transfers, the MSB license in the US and Canada, and Lithuanian Cryptocurrency Exchange & Wallet License, while Alchemy Pay is also applying for MSO in Hong Kong, MTL in the US, DPT in Singapore and EMI in the UK. Alchemy Pay is acutely aware of the need to expand the touchpoint to every market in terms of payments, not only to keep an eye on policy trends and changes from regulators, but also to work with local banks. This is a very slow process but is critical to creating a secure and compliant payment experience for users.
Cash flow. As Alchemy Pay moves forward with compliance and license applications in different countries, it has found that the compliance standards in Europe and the US are relatively clear, while in most other countries the laws and regulations are less clear. In such a dynamic and uncertain environment, the development of crypto business is bound to encounter some barriers, from which it is a long-term process to find a path to compliance or to establish partnerships to unify mutual understanding.
At the same time, the whole business operation and ecological construction will also take a lot of time and cost. Because fiat currencies and crypto currencies, which are the products of two financial systems, the conversion process is sometimes delayed, and a deposit of fiat and crypto funds is formed in between. To avoid users waiting, Alchemy Pay will complete the conversion by paying itself–a process that involves the act of advancing different funds. For this reason, Alchemy Pay proposes to prepare the cash flow in advance. This move not only ensures compliance operations and smooth payment systems, but also prepares itself for weathering the bear market smoothly.
Thinking Backwards, Exploring New Needs and Innovations
Co-founder Shawn Shi said the Alchemy Pay team tends to think backwards in its decision-making process, agreeing that it should not limit its thinking to the direction it would normally consider, but rather challenge inertia and look at the needs of marginal users or former non-users. In Alchemy Pay’s view, the needs of this group of people are often ignored as noise and thus become a missed opportunity for companies to advance their business. The rage for cryptocurrencies is bound to push businesses into the next phase of the internet Web 3.0 – an internet ecosystem built on blockchain, crypto wallets, non-homogenous tokens (NFT) and decentralized autonomous organizations (DAO) – and Alchemy Pay is no exception.
But unlike other companies that have entered the Web 3.0 space in full swing, Alchemy Pay felt the need to pause and think about how these technological developments might affect business and how to solve the payment challenges of people who have difficulty using conventional services, design innovative solutions for them and tap into the broader market. As a result, Alchemy Pay decided to go against the trend and go back to Web2 or Web2.5, identifying exactly those unmet needs and choosing financial institution partners that are more Web2-friendly, thus significantly broadening its reach.
Alchemy Pay believes that in order to find out where the customers are, it is necessary to focus on demographic and market trends, as the payment business is determined by user needs. Based on a large user base and user needs, Alchemy Pay has created its unique advantage “easy to use and highly adaptable”, which is compatible with all major forms of payment (POS, APP, Web, etc.) and all major wallets, and is adaptable to all major scenarios of payment solutions ( Apple Pay, Google Pay, national e-mobile wallets, etc.). This means that Alchemy Pay already meets the majority of users’ habits and further breaks the barrier between traditional payment methods and cryptocurrencies.
Alchemy Pay also meets the needs of most offline retail, e-commerce, online entertainment, bulk trading, supply chain finance, cross-border trading and other merchants, and further reduces their cost of use and improves transaction efficiency (traditional methods usually settle on the next day and charge high fees). ACH token is a value hub in its payment ecosystem, and it acts as an intermediate reconciliation token in the consensus protocol of the blockchain payment network, and can also be used to offset fees and receive various priority benefits. In the future, ACH is also expected to be the primary DAO governance pass in Alchemy Pay.
Payments, in fact, were the function of the earliest cryptocurrencies, such as Bitcoin and Litecoin, which all aimed to create a peer-to-peer, decentralized, open, transparent and irreversible payment ecology. In this ecology, users can make peer-to-peer asset transfers, which are simultaneously packaged by nodes and agreed by the whole network, which is considered a successful transaction. Due to this feature, cryptocurrencies have a theoretical potential for payments. Unlike the traditional Internet fiat payment system, which is already well established, the crypto industry and its online payments space is still in its early days due to credibility and infrastructure issues. The emergence of Alchemy Pay has built a bridge between the fiat and crypto payment shafts, on the basis of which cryptocurrencies are beginning to be accepted by traditional financial institutions. Alchemy Pay’s vision is to create a global cryptocurrency payment scenario, connecting fiat and cryptocurrencies globally, and aspires to be the next generation of payment infrastructure. The payment ecosystem and infrastructure it has built is expected to deeply integrate cryptocurrencies with traditional commerce. As the richness of the ecosystem increases and the integrity of the ecosystem matures, Alchemy Pay’s growth in the future is unlimited.
Source: Harvard Business Review
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Localbitcoins, the Pioneer P2P Bitcoin Exchange, Shuts Down After a Decade of Service Due to Crypto Winter
Localbitcoins, the Helsinki, Finland-based bitcoin exchange founded in 2012, is closing operations after over a decade of service. The company’s operators attribute the shutdown to the “ongoing crypto-winter,” which has left them unable to continue offering their bitcoin trading services.
The Challenges Faced by Localbitcoins and its Ultimate Demise in the Crypto Market
The first peer-to-peer (P2P) bitcoin exchange, Localbitcoins, is ending operations after over ten years in the business. The exchange announced the news on its website, stating that new sign-ups will be suspended as of Feb. 9, 2023, and trading will be suspended seven days later, on Feb. 16. Following the suspension of trading, Localbitcoins users will only be able to withdraw their bitcoins and have 12 months to do so.
“Originally Localbitcoins was established to bring bitcoin everywhere and drive global financial inclusion,” the company stated on Thursday. “We have honored that mission for over 10 years and we are proud of what we have achieved together with all of you, our loyal community.” The bitcoin exchange added:
We are therefore sad to share, that regardless of our efforts to overcome challenges during the ongoing very cold crypto-winter, we have regretfully concluded that Localbitcoins can no longer provide its bitcoin trading service.
In its early years, Localbitcoins was the preferred exchange for peer-to-peer trades globally. The platform saw strong volume in its first few years, but centralized crypto exchanges eventually surpassed it, leading Localbitcoins to become more prominent in regions without centralized trading options.
By 2019, the peer-to-peer exchange faced further challenges when it was required to comply with Know-Your-Customer (KYC) regulations. Additionally, Localbitcoins ended in-person trades that year, making the platform less appealing for peer-to-peer traders.
In 2021, during the crypto bull market and resurgence in digital currency prices, Localbitcoins announced the launch of an Android mobile app. Despite this, Localbitcoins never regained the volume it saw in 2017. Even during the 2021 bull market, the platform’s volume continued to decline. Statistics show that Localbitcoins’ volume is currently as low as it was during the 2015 bear market. The first week of February 2023 saw a slight increase, with 6.56 million BTC traded over a seven-day period.
What do you think is the future of peer-to-peer cryptocurrency exchanges after the closure of Localbitcoins? Share your thoughts in the comments section below.
Crypto Pioneer Backed By a16z, Alchemy Raises Value to $3.5B
Alchemy, the pioneer of crypto infrastructure, raised its value to .5 billion with a 0 million Series C round of funding led by Andreessen Horowitz (a16z). Alchemy is the leading platform for blockchain and Web3 developers. Currently, they intend to reinvest in the ecosystem’s expansion.
Alchemy has seen exponential growth in the past six months with revenues rising over 15 times. They pin their success to their main goal: “make building on the blockchain and Web3 so easy, anyone can do it.”; which turned out to have bigger demand than they expected, boosting their rapid growth.
They stated that their achievements surpassed their initial vision, and that being already a big picture consisting of creating a platform for the developers’ community managing to do for them “what AWS has done for the web or what Windows and Mac did for computing.”
What we didn’t realize was just how big of a need this was! Today, we power the majority of DeFi and almost every single NFT marketplace that has made that whole industry
The company further explained that their “reliability and scalability” is what the ecosystem’s leading companies “are building their success” on. Meaning that this new round of funding will not only help their growth as a company, but it will turn into new benefits for more than one industry.
Related Reading | Yieldly’s CEO Says Interoperability In DeFi Is More Important Than A Market-Leading Blockchain
Crypto AWS To Reach Full Potential
Alchemy’s potential is so large that one cannot possibly narrow it down to one industry. It is at the core of NFTs, DeFi, exchanges, financial institutions, multinational organizations, and more.
They publicly launched around a year ago and now lead as “the solution of choice” for many of the largest crypto companies we can think of: OpenSea, CryptoPunks, Axie Infinity, as well and the ones that are showing new interest in the blockchain, such as Adobe, and others.
Alchemy’s platform has shown the truth about the blockchain: it goes beyond currencies and trading. The possibilities it has given to programmers around the world are just the beginning of the emerging capabilities of DeFi and NFTs. From investors to gamers and creators, the blockchain’s technology prepares the soil for many generations to come.
Related Reading | 17% Of Ethereum Addresses Hold Majority Of NFTs
Ali Yahya, General Partner at a16z, showed their enthusiasm in their public announcement stating that Alchemy is “one of the fastest-growing companies we’ve ever seen in any category,”. He also deepened an explanation of their work:
In the same way that Apple and Amazon built platforms that help developers build on PCs, smartphones, and the cloud, Alchemy is building a platform that helps developers build on modern blockchains. (…)
The biggest misconception about blockchains is that they are just about money, cryptocurrencies, or finance, the truth is that they’re actually much more powerful and allow for a much broader set of applications.
During the past year, Alchemy’s co-founders have shown a long-term vision and a fierce way to build up their performance and achieve worldwide innovation. Nikil Viswanathan, co-founder and CEO of the company, commented that “Empowering developers is the key to bringing the magic of blockchain to the world.”
With tens of millions of users worldwide, Alchemy powers over billion of annual web3 transactions. Other than a16z, they are also backed by Stanford University, Coinbase, Pantera Capital, the Google Chairman, and others.
Brilliant minds, strong believers. This decade has just begun, but Alchemy has already led the blockchain into a level of development only a few had even dreamt of. 10 years from now the advantages of investments like this one will most likely be part of everyone’s life.
Crypto total market cap at .59 trillion on the daily chart. – Source: Tradingview
NewsBTC
SaTT Is Set to Pioneer Blockchain-based Advertising As It Unveils Its Social Media Monetization Platform.
Since the record-breaking .1 million ICO in 2020, SaTT has been making headlines in the cryptocurrency airwaves as it garners massive support towards the actualization of its long-term goal. SaTT, short for Smart Advertising Transaction Token, was launched by Atayen, Inc. with a mission to revolutionize the advertising landscape.
Coming up is an important milestone in the SaTT roadmap as the project is set to unveil the concept of Advertising Pools, or Ad Pools, this will launch alongside social network farming, which will ultimately allow companies and organizations to reward creators more transparently. Commenting on the significance of the upcoming launch, Atayen had stated that:
“To showcase proof-of-concept for the technology, Atayen is offering the first Ad Pool on YouTube for interested early adopters, entitled Proof Of Concept: YouTube Challenge. Throughout the process, Crypto YouTubers can discover the advantages of SaTT firsthand and earn the SaTT cryptocurrency with their YouTube channels.”
Upon launch, the Ad Pool will debut with a total of 100 million SaTT tokens which will be targeted at achieving a total of 5 million views. Creators will be required to meet some predefined performance-based requirements set by the firm in order to reach this milestone.
According to Atayen, Ad Pool would allow content creators to earn SaTT automatically through Post Farming, which requires them to attain a certain number of views, likes, or retweets. The SaTT token will be rewarded to creators once the prerequisites are completed, and the balance will be transferred.
As a blockchain-based advertising platform, powered by smart contract technology, all transactions will be fully automated without the presence of a “middleman”, thereby decoupling the challenge of lack of transparency that has bewildered the traditional advertising landscape.
SaTT, A pioneer of Blockchain-based Advertising
SaTT has shown to be effective in assisting content producers in receiving fair compensation that is proportional to the number of views and interactions on their work. They are saddled with their basic responsibility in developing the best advertising solution for all parties involved, which is otherwise absent on many other prominent platforms like YouTube and traditional advertising platforms.
Taking into cognizance the lack of transparency and inefficient advertising metrics in the traditional advertising landscape, the SaTT platform committed to maintaining a fair and transparent connection between advertisers and business brands, which will ultimately eradicate fraud. Assuring that advertisers are compensated based on the efficacy of their advertising rather than for monthly subscriptions with no added value.
With the help of decentralized smart contract oracle, SaTT connects advertisers to publishers (social media influencers) together, allowing publishers to create content via these social media channels and in turn get paid for their effort based on the level of engagement derived (number of views, shares, likes, comments of the publication). The YouTube Proof of Concept which is set to launch in a few weeks will set the tune for SaTT to achieve its needed objectives.