New Non-Custodial, Cross-Chain Browser Wallet to Compete with MetaMask by Focusing on DeFi and NFTs

New Non-Custodial, Cross-Chain Browser Wallet to Compete with MetaMask by Focusing on DeFi and NFTs

XDEFI has released its rival to the popular crypto wallet MetaMask which reported more than 10 million active users in August.

Last month, XDEFI Wallet raised $6 million led by Mechanism Capital and Defiance Capital, with other investors including Alameda Research, Sino Global, and Animoca Brands.

Now it has announced the public release of its non-custodial, cross-chain wallet built with a focus on decentralized finance (DeFi) and non-fungible tokens (NFTs).

This week, the team unveiled XDEFI Wallet 7.0 and introduced the Ape Mode for the apes and degens of crypto.

The wallet uses a proprietary gas algorithm to ensure that even during times of congestion, transactions get into the next block timely, says the team.

It is also optimized for EIP-1559 allowing “users the maximum benefit from Ethereum’s London hard fork while still maintaining an accessible interface.” By adding a network activity section in-app, it reduces reliance on third-party sites. ETH 3.35% Ethereum / USD ETHUSD $ 3,608.86
$120.903.35%
Volume 16.15 b Change $120.90 Open $3,608.86 Circulating 117.91 m Market Cap 425.53 b
7 h New Non-Custodial, Cross-Chain Browser Wallet to Compete with MetaMask by Focusing on DeFi and NFTs 11 h US Dollar Hits One-Year High But Bitcoin No Longer Holds an Inverse Correlation with it 1 d BSC Is Back in the Game as Binance Announces $1 Billion Incentives Program to Pump the Ecosystem

While the wallet already offers access to chains like Terra (LUNA) and THORChain (RUNE), which are not available on MetaMask, support for other popular blockchains like Solana (SOL) and Avalanche (AVAX) along with layer 2 solutions like Arbitrum will be added along the way. LUNA 2.38% Luna Coin / USD LUNAUSD $ 0.01
$0.002.38%
Volume 0 Change $0.00 Open $0.01 Circulating 1.71 m Market Cap 12.73 K
7 h New Non-Custodial, Cross-Chain Browser Wallet to Compete with MetaMask by Focusing on DeFi and NFTs 5 d AnySwap and Aave Fork Geist Finance Send Fantom TVL Past $9 Billion, FTM Makes a New ATH 1 w Shift to Risk-on: Bitcoin Is Up 12% Already in Uptober Amidst Stock Market Weakness
RUNE 1.10% THORChain / USD RUNEUSD $ 7.33
$0.081.10%
Volume 47.74 m Change $0.08 Open $7.33 Circulating 224.41 m Market Cap 1.65 b
7 h New Non-Custodial, Cross-Chain Browser Wallet to Compete with MetaMask by Focusing on DeFi and NFTs 3 w DeFi Autumn after Solana Summer? Traders Still Short as Bitcoin Jumps to $48k and Ether to Nearly $3,700 1 mon DeFi Rallies Towards New Highs As Multiple Layer 1 Blockchains Amaas $50 Billion in TVL
SOL -2.60% Solana / USD SOLUSD $ 148.26
-$3.85-2.60%
Volume 2.07 b Change -$3.85 Open $148.26 Circulating 299.9 m Market Cap 44.46 b
7 h New Non-Custodial, Cross-Chain Browser Wallet to Compete with MetaMask by Focusing on DeFi and NFTs 1 d NFT Deposits and Withdrawals are Now Live on FTX US for Institutional Favorite Solana (SOL) 1 d Institutions Are Back to Pouring Money into Bitcoin as a “Perfect Storm” Brews for the King
AVAX 1.39% Avalanche / USD AVAXUSD $ 55.04
$0.771.39%
Volume 651.96 m Change $0.77 Open $55.04 Circulating 220.29 m Market Cap 12.12 b
7 h New Non-Custodial, Cross-Chain Browser Wallet to Compete with MetaMask by Focusing on DeFi and NFTs 1 d BSC Is Back in the Game as Binance Announces $1 Billion Incentives Program to Pump the Ecosystem 5 d AnySwap and Aave Fork Geist Finance Send Fantom TVL Past $9 Billion, FTM Makes a New ATH

As for NFTs, the wallet offers automatic detection and a drag-and-drop NFT display grid.

Users can also buy crypto directly within the XDEFI Wallet, for which it claims not to charge a fee.

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Author: AnTy

We’re Not A Bank & Don’t Want To Compete: Microsoft Pres. On Fintech Companies Issuing Currencies

We’re Not A Bank & Don’t Want To Compete With Them: Microsoft President On Fintech Companies Issuing Currencies

Brad Smith says governments are best placed for that role. Meanwhile, the company is asking its Xbox customers about Bitcoin as a payment method.

Microsoft President Brad Smith is not in favor of financial technology companies issuing currencies. According to him, governments are still best-placed for that.

“I’m not a big fan myself of encouraging or asking or wanting us to participate in the issuing of currency,” said Smith at an online conference hosted by the Bank for International Settlements (BIS). He added,

“The money supply almost uniquely needs to be managed by an entity that is responsible to the public and thinks really only about the public interest, and that means governments.”

The world has been seeing a shift to digital payments accelerated by the pandemic. The massive amount of money printing as financial aid to help the economy recover has further fueled the interest in cryptos and Bitcoin as a hedge against inflation.

This has raised concerns among policymakers while central banks around the globe study issuing their own digital currencies. Smith said,

“I think the world has been better served by what has been a movement over centuries to put that in the hands of governments.”

“We’re not a bank, and we don’t want to become a bank, and we don’t want to compete with our customers who are banks.”

Meanwhile, Microsoft is asking its Xbox users about Bitcoin as a payment option.

The survey is part of the Xbox Insider Program for beta testing OS Updates. It asks a couple of questions, including your current payment method, your views on the several payment methods supported on Xbox, which other should be added, and if the lack of your preferred method prompted you not to purchase something from Xbox.

Back in 2014, Microsoft allowed its users to pay for Xbox games with BTC, but the feature has been no longer available.

Just yesterday, Elon Musk, the CEO of Tesla, announced that the electric car maker accepts Bitcoin. He further said they wouldn’t be converting any BTC received in payment in fiat currency either, preferring to hold the cryptocurrency.

Tesla also divulged last month that it had invested $1.5 billion into Bitcoin, following which Smith said Microsoft didn’t have any investment in the cryptocurrency.

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Author: AnTy

BlockFi Registers the ‘BlockFi Bitcoin Trust’ with the Securities and Exchange Commission

BlockFi Registers the ‘BlockFi Bitcoin Trust’ with the SEC to Compete With Grayscale’s GBTC

Crypto lending service provider BloackFi has filed for a Bitcoin Trust with the US Securities and Exchange Commission (SEC).

The ‘BlockFi Bitcoin Trust’ has yet to raise money from investors, but as a Rule 506(c) exempt offering, it would be able to offer the product publicly.

With this trust, BlockFi will directly compete with Grayscale’s Bitcoin Trust (GBTC), whose investors are predominantly institutions. Grayscale is the largest digital asset manager currently holds 648.47k BTC, representing approximately 3.5% circulating supply of Bitcoin.

The premium of GBTC is currently down at 3.52% from the highs of over 40% on Dec. 22nd and much lower than over 130% in the summer of 2017.

BlockFi currently caters to both retail and institutional clients. It has more than $8 billion in total client balances and over 125,000 funded accounts.

The firm reported about $100 million in revenue in 2020, which was an increase of 22x from the previous year.

Besides BlockFi, this week, another firm Valkyrie which has $2.3 million in sales, registered a Bitcoin trust.

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Author: AnTy

Ethereum’s Vitalik Buterin: Proof of Stake (PoS) Will Make ETH More Secure than Bitcoin

“Ethereum is one of the hardest-hitting competitor’s when it comes to an altcoin that could compete against Bitcoin”.

Vitalik Buterin, a co-founder of Ethereum, stated that after the Proof of Stake (PoS) consensus algorithm is implemented into Ethereum, it will be more secure than Bitcoin.

Buterin stated this opinion during Devcon 5: An Ethereum developers conference that happened in Osaka from October 8th to October 11th. He pointed out, pragmatically enough, that the sheer cost of attack would make Ethereum a safer network as well. It works on the idea of deterring lower-tier criminals from trying their hand at it due to the computational power needed.

As is considered mandatory, Buterin started his presentation by paying homage to the enigmatic Satoshi Nakamoto: Creator of bitcoin and the father of cryptocurrencies as a whole. He stated that Nakamoto created crypto-economics as a way to encourage individuals to maintain the Bitcoin network.

The way that blockchain is designed is that you would need an incredible amount of resources to compromise the network effectively, and the cost only rises as the system expands.

Buterin makes an intriguing claim, however. He asks if every aggressive actor against blockchain is into it for the monetary gain, or if there are some people that “just want to watch the world burn.” It’s an interesting argument, implying that there are malicious actors out there that would be willing to waste excessive amounts of resources to see a blockchain collapse. He stated that it could be hacker groups, governments, anyone.

Ethereum’s PoS Based Security

When Ethereum implements PoS, users can lock an amount of Ether into a smart contract. This smart contract will allow them to validate new blocks, instead of relying on the energy consumption of heavy-duty computer power. If this staker misbehaves, their stake can be slashed as recompense.

The more Ether staked, the better chances you have of validating a block. This is similar to a hashrate for a miner, where the more computational power he has, the better chance he has of validating a block and, thus, earning money.

In Buterin’s envisioned PoS system, there is an active community regulation system. This can be done via challenging a validator’s new block when it’s created. The new block can be verified by investigating it for malicious code.

Whether or not Ethereum can stand up to Buterin’s claim remains to be seen, but this could very well be the next step in cryptocurrencies.

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Author: Ali Raza

Tron’s dApp Continues Upward Trending in Passing EOS And Ethereum In Trading Volume

Trons-dApp-Crosses-EOS-And-Ethereum-In-Trading-Volume

TRON is one of the networks aiming to compete in real-world applications through distributed apps (dApps). Their volume has been constantly increasing. Up till now, TRON dApp usage closely followed that of Ethereum and EOS. However, new data shows that they seem to have surpassed their competitors.

Justin Sun, the company’s CEO tweeted:

“According to dapp.review, #Dapp trading volume 7 days,

#TRON $101,616,658.87,

#EOS $94,973,914.42,

#ETH $51,562,477.53,

This is the first time volume 7 days on #TRON exceeds that of #EOS.”

The usage of dApps has increased, especially with the appearance of better dApp-supporting wallets. Online gambling through tokens remains one of the key attraction points for coin adoption. An average active user spends around 102 US dollars on average on DApps every day. Besides the money spent on the Decentralized Applications, the market has been experiencing several DApps being built on the Tron platform.

According to one of the popular dapp analytics platforms, RatingDapp, that offers factual market analytics, dapp data, and user insights for over 1,500 dapps, Tron’s weekly transaction volume has witnessed a massive spike.

Everything is set for Tron to get that leading edge in the crypto space to provide scalable dApps as well as smart contract solutions. dAppChain is basically Tron’s dApp sidechain expansion project that is likely to increase its dApps immensely.

Tron is more and more dominant steadily in the dApp space. This dominance is helping Sun-led blockchain to consolidate its position in the market and even move further up the radar.

All of Today’s TRON (TRX) Price Analysis, Chart Forecasts and Industry News

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Sritanshu Sinha