Coinbase Wallet Users Can Now Earn Interest From DeFi DApps Directly In The App

The Coinbase Wallet has just integrated with decentralized finance (DeFi) apps in order to allow its users to lend crypto assets and track the growth of their interest straight from the wallet app.

As an announcement made by Coinbase on Wednesday says, Coinbase Wallet users are already putting millions into DeFi platforms through the wallet’s Dapp browser and WalletLink. Still, Coinbase wants to make their experience even more enjoyable. Until now, they didn’t have the option to compare rates from different providers, nor were they able to see the total of their balance with these providers with out leaving the app itself.

What Does the New Feature Bring?

According to the Coinbase announcement, the new wallet feature allows users who own a Coinbase wallet account to interact with lenders such as dYdX and Compound, which are both DeFi platforms. They can choose their coin and a smart contract provider in order to invest as much crypto as they want into one of the DeFi products.

As said before, they can view how much interest they’re earning and their total balance without having to exit the wallet. iOS users will have the new feature this week, while Android users will still have to wait a few more weeks.

DeFi Products Are Risky

Coinbase wanted to warn investors about the fact that DeFi products are quite new and present a risk. Caution was advised when using them. Here’s what the announcement reads exactly:

“Before you get started, please be aware that DeFi lending apps are relatively nascent and come with risks.

DeFi apps are programs running on the blockchain, and like any computer code they can potentially have bugs that cause you to lose money. Returns are not guaranteed and your deposits are not insured.”

Basic information and the definitions of minimum collateral or contract’s assets under custody are being provided for the wallet’s users to know better what contracts to choose. However, they’re still advised to do their own research in order to understand how the apps work and the risks they’re about to take.

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Author: Oana Ularu

Bitcoin Purchases on Dorsey’s Square Cash App, Records Its 7th Straight Quarter of Growth

  • In 2019, Bitcoin generated $510 million in revenue and half of Cash app’s Q4 earnings
  • In 1Q20, the company is projecting up to $715 million in transaction and bitcoin costs

According to the financial report of the quarter four of Twitter founder and bitcoin proponent Jack Dorsey’s Square, customers bought $178 million of Bitcoin.

In total, the peer-to-peer payments and stock trading Cash App generated $361 million in revenue, half of which came from bitcoin trading. During the entire 2019, the cryptocurrency brought in $510 million in revenue.

Source: Square’s Bitcoin sales

This has been Square’s Cash app’s 7th straight quarter of growth, seeing $239% of year-over-year growth. This growth has been despite bitcoin losing its value for the better part of 2018 and 2019.

In the quarter first and second of 2018, Bitcoin lost 50.74% and 8.17% of its value but gained 2.63% in 3Q18 only to lose 43.21% in 4Q18. In 2019, while the first two quarters were green by 10.34% and 161.50%, the last two recorded negative returns of 25.11% and 10.30%.

Also, the company reached 24 million active users in the three months ending Dec. 2019, which has been an increase of 60% in comparison to 2018. They exceeded the expectations of the market by raking in over $1.3 billion in revenue, a solid 41% YoY increase. As a result, the shares of Square rallied as much as 10% on this better-than-expected fourth quarter results.

About 90% of this revenue was also generated in the US and that’s why the coronavirus might have much of an impact on the company’s return this year while PayPal lowered its outlook for first-quarter revenue growth by one percentage point.

Continued Growth

The Venmo competitor rolled out its bitcoin services across the US on its Cash App in the summer of 2018 and then in mid-2019, it allowed customers to deposit bitcoin into the app. For the first-quarter of 2020, the company is projecting up to $715 million in transaction and bitcoin costs.

On Wednesday’s investor call, Chief Financial Officer Amrita Ahuja said once a user starts using the app for bitcoin buying and selling, they tend to generate 2-3 times the revenue by regular users. Ahuja said,

“We are able to efficiently acquire customers, keep them engaged and show them additional ways we can continue to add value.”

The company already has a dedicated division for bitcoin, Square Crypto that announced a software development kit last month to make it easier for applications to integrate the Lightning Network, the second 2 layer on the bitcoin network for cheaper and faster payments.

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Author: AnTy

Torus Rolls Out 1-Click Logins To Decentralized Apps With Gmail, Facebook, and Reddit

The key-management startup that offers one-click logins to decentralized apps (dapps) Torus has announced it has new partners for its Web 3.0 product.

Joining Torus, those that will run nodes to support the decentralized login system are going to be Binance, Etherscan, Ethereum Name Service (ENS), Ontology, Ziliqa, Skale, Matic Network and Tendermint Core.

Web 3.0 Enables Holding of Personal Data Independently

Web 3.0 allows users the holding of personal data independently, all without compromising efficacy or speed. Just like with cryptocurrency, users still need to have a private key in order to login into dapps. Zhen Yu Yong, Torus’ CEO, said Torus combines private keys with mainstream login applications.

Torus Raised $2 Million in a Seed Round for the Web 3.0 App

In July last year, Torus raised $2 million in a seed round for the Web 3.0 app that was led by Multicoin Capital. Yong explained how Torus users are allowed to login into Web 3.0 apps at the same speed as with the OAuth internet protocol, all without security being compromised. Torus works with Web 2.0 applications like Google too, not to mention it has added 5 new one-click partners, Discord, Twitch and Facebook included. As of date, the startup has more than 100 partnering applications.

Crypto Being Sent to People Who Don’t Have a Crypto Wallet Yet

With Torus, crypto can be sent to people who don’t have a crypto wallet yet. For example, ERC-20 can be sent through Gmail, only to be claimed when the recipient has created a Torus account. Yong tried to explain the difference between Torus and other decentralized login startups by saying:

“The difference between us and [other projects] is they are all using a password manager model. While they can’t outright keep your key, it’s not quite censorship-resistant – they can withhold your key from you.”

More Partners to be Added in the Future

Yong mentioned that Binance and other partners of Torus are going to receive a part of the fees when subscribing dapps like DDEX, for example. He also said his company is looking to bring on board more partners in the future, also to issue a network token.

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Author: Oana Ularu

BRD Expands Into Enterprise With Blockset Blockchain Service, BTC And XRP Chains Supported

  • BRD set to offer corporate partners a cheaper and more efficient way of deploying their apps with Blockset
  • Currently, it only supports BTC and XRP chains and has already reeled in major partners in the financial world

After using the digital wallets that were currency available and seeing the poor user experience as well as losing $1000 in BTC and Aaron Voisine, BRD co-founder envisioned a digital wallet that would be secure and easy to use.

BRD is a simple and secure onramp to bitcoin, ethereum, and other digital currencies according to their website. They have currently grown their presence to 170 countries and servicing a clientele of close to 3 million, handling over $6 billion in digital assets.

BRD announced the launch of its new Blockchain product, Blockset which will set BRD on a new course to satisfy the robust ever-growing banking and finance industry needs. It will consolidate BRD key values of privacy and security on which BRD has built its reputation as a leader in the industry.

Blockset is a mega platform that has custom sets of tools that will offer developer teams the opportunity to build customized for sale Blockchain apps, ease data access, reducing time and transactional costs.

According to CEO and co-founder Alex Traidman Blockset is set to satisfy the need for big crypto companies and banks to hasten the delivery time of the propriety solutions globally especially with the new opportunities opened up by the increased appetite for digital assets ownership and trades. This will also reduce their development and deployment costs significantly.

“That is why we developed our own proprietary platform (Blockset) which banks, financial services, and large crypto companies will now be able to leverage to accelerate their time to market and deliver enterprise solutions to scale on a global basis for a fraction of the development costs.”

They have already received backing from quite a number of corporate leaders such as SBI Holdings, PayPal, KPMG, and Ripple’s Xpring. They are also targeting to bring onboard partners and system integrators to boost their market presence in the near future.

Blockset has been made available for the market however prioritizing mostly corporate clients. The wallet currently supports BTC and XRP and intends to offer Bitcoin Cash (BCH), Hedera (HBAR) and Ethereum (ETH) options by the end of March. Alex Traidman was confident that Blockset would open up exciting opportunities to all those who came on board.

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Author: Lujan Odera

EOS’s Loss is TRON’s Gain as it Officially Becomes the Second-Largest Dapp Ecosystem

  • Defi apps saw the “most impressive” growth while the investment hype of gambling dapps dwindling
  • Ethereum a go-to choice for gamers & financial dapp users while gambling and high-risk dapps rule TRON
  • One dapp causes all the pain to EOS

In 2019, just like price decentralized applications (DApps) sector also saw a boost. The number of dapp users doubled last year in comparison to 2018, with 2.77 million new users, as per the Dapp.com 2019 Annual Dapp Market Report. However, not all of them were active, only 348k old users, 11% of all active users, remained active.

The report finds that nine leading blockchains recorded transactions of 3.26 billion, a whopping more than 2.3 billion belonged to EIDOS on EOS alone.

Interestingly, financial services, like lending dapps registered the “most impressive” growth as the number of financial dapp users increased by 610% while transaction volume by 251%. DeFi dapps are the second-largest category with a total of 1 million active users.

When it comes to gambling users, they increased by 372%, the same as the high-risk dapp users’ growth. However, their investment/presale hype has weakened and its volume dropped significantly, 60% compared to 2018.

Ethereum a go-to choice for gamers & financial dapp users

When it comes out smart contract platforms, Ethereum remained the king with the launch of 690 new dapps and over 1.4 million active users throughout the year, accounting for 10% of the total amount of active users. But recorded one of the lowest activities at 62%.

About half of active Ethereum dapp users have used DeFi apps as evident from the fact that 70% of the volume generated by Ether was through the use of DEXs and financial services.

It also remains the first choice for game developers, having over 200k gamers, which is twice the sum of EOS and TRON games.

Gambling and high-risk dapps rule TRON

Ethereum is followed by Tron which officially become the second-largest dapp ecosystem. 411 new apps built on its blockchain last year. The number of TRON’s mainnet accounts has grown significantly. These over 3.260 million new accounts have been driven by its partnerships, especially with the Samsung, Opera, and issuance of TRC-20 standard USDT.

The TRON-based USDT has actually surpassed $900 million, which is about 20% of the total USDT supply. Gambling and high-risk apps, however, still dominate TRON, accounting for over 75% of the active users and volume.

One dapp causes all the pain to EOS

EOS has taken a beating by seeing only 260 new dapps but they generated a volume of $5 billion, nearly 50% of the total volume. This volume surpasses those of Ethereum and Tron to emerge at the top. They also have the highest activity among all the platforms, reaching 97%. The highest dapp usage rate from its mainnet accounts at 48.9% is also of EOS.

The most important launch on EOS was EIDOS that increased the number of transactions by over 4 times. Prior to its launch, EOS has the largest number of daily active users that dropped by 80% after EIDOS went live on Nov. 1. Although EIDOS’s unique on-chain users were only 2.8% of the total active users on EOS, they contributed 85% of the total amount of transactions.

The migration of its most active dapps EOSbet (Earnbet), Prospectors and Karma to Wax Blockchain also caused great loss to the EOS ecosystem in 4Q19.

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Author: AnTy

Google Suspends Ethereum Wallet & Browser MetaMask’s Android Client

  • Tech giant Google bans MetaMask on the grounds that it doesn’t allow apps that mine cryptos
  • Metamask wants community to speak out and use other browsers like Firefox and Brave instead
  • MetaMask is “totally overwhelmed” and is a hierarchical company

Google has suspended the Ethereum wallet and decentralized app browser MetaMask’s Android client from its Play app store, announced the Ethereum Dapp browser on Dec. 27.

MetaMask took to Twitter to share that the tech giant cited their policy that bans mining on mobile as the reason behind this ban. Google’s policy reads,

“We don’t allow apps that mine cryptocurrency on devices. We permit apps that remotely manage the mining of cryptocurrency.”

But MetaMask says they don’t offer mining and its appeal has also been rejected. The rejection also cited the same policy that no mining is allowed on Android. The company wrote,

“It’s unclear whether the reviewer doesn’t understand the policy, or whether they are enforcing an unwritten policy. Either way, it’s time to ProtectWeb3.”

Need for Decentralized Options

This, however, hasn’t been the first time that Google has blocked the crypto wallet of MetaMask that has an estimated 200k active users. That last time the search engine delisted it from the Chrome Web Store but the community spoke out and got it re-listed.

If it is left banned, MetaMask says they will be working on other ways to bring their services to Android users.

Meanwhile, it wants the community to speak out and show their support by using other browsers Firefox and Brave.

Earlier this year, MetaMask suffered a blow when fake MetaMask apps hiding malware were found on the Google Play Store.

This week we also saw Google-owned YouTube removing videos of crypto-related content creators. But it has revealed that the removal was done in error and some of the content has been stored. However, this event sparked the need for decentralized video hosting platforms.

MetaMask is “totally overwhelmed”

In another news release, a MetaMask contributor said its team is “totally overwhelmed” and not prioritized by its parent company ConsenSys.

In a Dec. 25 Reddit post titled “Help MetaMask out of its Activity-Trap,” says the team has several unresolved issues and its workflow structure isn’t either transparent or decentralized.

The Redditor and project contributor Lazardiscom specifically criticized its structural issues despite ConsenSys founder J. Lubin,

“trying to convince everyone that ConsenSys is a non-hierarchical company. It is not.”

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Author: AnTy

Ethereum’s Blockchain is Growing, Rising Amount of Crypto Held in Decentralized Finance Apps

Decentralized finance (DeFi) apps are getting pretty popular these days and you can see that from the amount of Ethereum these apps are using. This week, the amount of ETH used reached an all-time high of $2.36 million ETH, around USD 420 million.

With the use of DeFi apps, you can lend money, borrow it or make several investments. Most of the time, for this to happen securely, the money needs to be locked up as collateral and this is why the number of ETH being locked in these apps is so high at the moment.

Smart contracts are generally used to only release the money at an appropriate time, so this means that nobody will lose out unfairly. The only issue is that by locking up that much ETH, the supply is considerably reduced. This means that the success of the app affects the network.

The effect is not 100% clear, however. Some people argue that reducing the supplies can push prices up, but others disagree with this and believe that volatility can go up and down.

From all these apps, MakerDAO is possibly the most famous. The stablecoin locks ETH to keep its price stable and this has worked out so far, despite how the ecosystem had to hike several fees at the beginning of the year, due to issues.

In MakerDAO alone, the amount of ETH locked went from $14 million only two months ago to around USD 25 million now. It seems that the DeFi segment is about to grow even more, especially if it depends on popular projects such as MakerDAO.

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Author: Gabriel Machado

DappRadar Releases A Full EOS Tracker, Revealing $1 Billion In Hidden Volume; ETH And TRX Coming Soon

DappRadar, the ranking and tracking site for decentralized apps (dapps) on the EOS blockchain has added a new feature which now monitors the volumes of both EOS as well as tokens developed on the EOS platform, Decrypt reports.

According to DappRadar, other sites that tracks the volumes of the EOS crypto do not track the value created by the trading of tokens which are not native to the blockchain such as tokens which are traded on decentralized exchanges or ones that are used in game currency.

DappRaddar claims that the phenomenon presents about 25% of volume into the EOS blockchain which goes unaccounted. As per today’s total trading volume which is $12 million, whereby, $9 million represents the EOS while $3 million is for other EOS based tokens.

According to DappRadar’s brand communication manager, Jon Jordan,, this represents an underestimation of the EOS ecosystem by about $1 billion. To arrive at the figure, Jordan multiplied $3 million by 365.

Jordan also explained that DappRadar will henceforth rank EOS dapps as per the total volume of the entire EOS-backed tokens going through smart contracts. He explained:

“This will greatly increase the transparency of value creation on the EOS blockchain, especially for decentralized exchanges that support the trading of EOS-based tokens.”

The latest announcement comes as a major boost for decentralized exchanges within the EOS platform that trade more tokens other than EOS. Prior to the new update, DappRadar realized that Newdex exchange had about $1.8 million worth of EOS trading volume every day but after the update, the value surged by a further $1.6 million worth of trading volume per day.

DappRadar also gave another example of Wild-West game Prospectors that utilizes an EOS-based Prospectus Gold (PGL) that was not present for ranking. The addition of the token brought about $3000 worth of extra trading volume every day.

In due course, DappRadar says it is planning to launch the new feature in Ethereum as well as other blockchains.

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Author: Joseph Kibe

Blockchain App Total Transactional Volume is Down By 40% Via Data from Six Networks

People are not using decentralized apps (dapps) so much anymore. According to a recent report made by The Hard Fork’s Next Web, the dapp transaction volume is down by nearly 40%, hitting just $2.03 billion USD.

Not only the transactions are not as intensive as they were before, but not many new dapps are being launched. Only 148 dapps were launched in the last quarter, this is less than the average of 164 dapps that were deployed monthly in the first half of the same year.

Curiously, more than half of the transactions were related to gambling, which is still one of the biggest use cases of the industry. Decentralized finance apps based on Ethereum, however, are not insignificant and are raising in popularity lately.

The data, which was taken from Dapp.com, shows that most people using Ethereum-based dapps some months ago never returned to them. The activity was only not lower because several new users appeared. Most of them for gambling, but some for the decentralized finance apps.

EOS, on the other hand, is more focused on retaining users. It is not growing as fast as Ethereum or even Tron, but it has more users who decided to remain for another quarter using the services, which is a good indicator that the network will not be abandoned anytime soon.

Tron is getting great results. It has a total of 3.7 million users now, mostly focused on gambling. This makes it the second most popular ecosystem for dapps, losing only to Ethereum, which is around for several years. Tron is the least diverse blockchain, though, as most of its activity is only related to gambling.

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Author: Hank Klinger

Coinbase Wallet Users Can Now Use WalletLink Now To Browse on Desktop

All Coinbase Wallet users will now be able to use WalletLink to access any decentralized apps on their browsers via their desktop computers. According to the Coinbase Blog, the program will act as a bridge between the desktop and the user’s wallet.

To start using the new tool, you simply need to scan the WalletLink QR code with your smartphone. This way, it will become considerably easier to keep your funds safe and to use decentralized apps whenever you want.

The decision was taken because several users were already using the web to explore the internet but they were lacking the ability to use dapps on desktop as well. Coinbase Wallet offers a secure way to hold tokens, but Coinbase wanted to deliver more and this is the result of this goal.

Before now, people could only use the app on their mobile devices, but they will be able to use it on their desktop computers now without losing any security.

Several dapps are already tested and fully compatible with the program. Some of them are Compound, Maker, IDEX, Uniswap and dYdX.

The wallet will be fully open source starting today and developers will be able to integrate the current technology with their own products.

In order to use this product, you need to have the updated version of the software, so make sure that your wallet is at least in version 19.1 before trying. So far, the product was tested with the most popular browsers, which included Mozilla Firefox, Google Chrome, Brave, Opera and Microsoft Edge.

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Author: Gabriel Machado