On-Chain Data Indexing Platform, The Graph, Looks to Support 8 New Layer 1 Blockchains

On-Chain Data Indexing Platform, The Graph (GRT), Looks to Support Eight New Layer 1 Blockchains

The Graph, an indexing and query layer of decentralized applications, evaluates a move to eight different layer 1 blockchains following a successful mainnet launch on Ethereum. The company is currently working on integration on the Bitcoin, Polkadot, and Binance Smart Chain (BSC) L1 networks – to name a few.

A blog post released on Monday revealed eight-layer 1 technologies being evaluated by The Graph for “potential integration.” The querying and indexing platform launched its mainnet on Ethereum at the tail end of 2020, building a robust and decentralized system on the Inter-Planetary File System (IPFS). Now, the company is shifting its focus to allow the deployment of sub-graphs (open APIs in the Web3 ecosystem) on other blockchains.

The list provided mentions eight potential L1 layer candidates to integrate The Graph (GRT), including Bitcoin (BTC), Polkadot (DOT), NEAR, Cosmos (ATOM), Solana (SOL), Avalanche (AVAX), Binance Smart Chain, and Celo.

The Graph was first conceptualized in 2018 to make it easy and efficient for developers to access on-chain data and build dApps by launching their sub-graph. Moving to new L1 blockchains will allow users and developers to build interoperable applications hence “growing the overall Web3 ecosystem”, the post further reads.

“After launching mainnet, we are looking to accelerate the upward trajectory of the Web3 ecosystem”

“That means ensuring that no matter which Layer 1 blockchain you are building on, you can build a subgraph and easily access data from across chains”.

Eva Beylin Director at The Graph Foundation

The company is still analyzing the conditions necessary to integrate its indexing platform to the Layer 1 blockchains – and the respective developer communities. The Graph is planning to use several criteria to integrate on a blockchain, including ease of integration, the communities’ hype and rigor, compatibility with its goals, and overall contribution to the Web3 ecosystem.

So far, over 7,000 sub-graphs have been deployed by decentralized finance products on Ethereum (ETH), including AAVE, Compound (COMP), Synthetix (SNX), and Uniswap (UNI). These projects use sub-graphs to retrieve data improving the efficiency of the platforms.

“By providing subgraph support across chains, developers will be able to utilize the best of whatever each blockchain has to offer,” Eva further said.

Finally, the post also revealed the Graph Foundation is launching the “Graph Grants Program” to any developers working on integrating the selected Layer 1 blockchains on its platform. The Foundation released 25 million GRT – The Graph’s native tokens – to be distributed across the Graph’s ecosystem across 2021.

Read Original/a>
Author: Lujan Odera

Ripple Partner, SBI Group, Looks to Form Crypto Joint Venture to Boost Revenue

Ripple Partner, SBI Group, Looks to Form Crypto Joint Venture to Boost Revenue

Tokyo-based financial giant SBI Holdings has opened up talks with various international financial institutions to form a crypto joint venture. The firm revealed that it aims to make the crypto business one of its main pillars.

Speaking to Reuters, Yoshitaka Kitao, SBI CEO, revealed that the bank is in talks with numerous financial institutions to set up a crypto venture. Kitao also stated that SBI has already secured two plausible deals but remained coy on the details. The CEO stated that part of the initiative is to pursue mergers and acquisitions.

To enhance its presence in the crypto space, SBI bought TaoTao, a Japanese-based crypto exchange, last year. Kitao explained that the merger and acquisition strategy does not involve taking the minority stakes but partnering with top crypto companies worldwide.

Ripple partner SBI Holdings has witnessed a big jump in profits from its crypto wing for the year ending December 2020. The financial conglomerate’s crypto pretax profit stood at $64 million, which increased 83% compared to 2019. Kitao explained,

“To be number one in the world, our choice is purchasing a leading firm or allying with major global companies. Our merger and acquisition strategy will not be something like taking minority stakes in many companies. Investors once lived in the world where they invested in stocks or bonds; it’s not an either-or situation anymore.”

Kitao also elaborated that institutional interest in crypto assets is rising, which presents a huge opportunity for SBI. He added that institutional investors, mostly hedge funds, are flocking the crypto market, presenting an opportunity for mergers and acquisitions. He also cited that renowned investors like Elon Musk are taking an interest in the crypto industry.

In December last year, SBI purchased cryptocurrency trading outfit B2C2, and the firm is looking to add more.

SBI Holdings is the largest online brokerage firm in Japan and has been offering crypto trading services since 2018.

Read Original/a>
Author: Joseph Kibe

Nvidia Looks to Fire Up Its Crypto Mining GPU Production; If Demand is Good Enough

Nvidia Looks to Fire Up Its Crypto Mining GPU Production; If Demand is Good Enough

While known for its prowess in the gaming industry for its powerful line of graphics cards, the Chipmaking powerhouse Nvidia has hinted at a possible restart in the production of Graphics Processing Units (GPUs) specifically for cryptocurrency miners.

During her time attending an event on Jan. 12, Nvidia Chief Financial Officer Colette Kress alluded to the company’s continued interest in providing its famous line of CMPs for the crypto mining community – providing the market picks up to what she refers to as a “meaningful level.”

CMPs, in contrast to GPUs, are effectively the same kind of graphics card. By removing certain features from GPUs – such as video outputs – CMPs could be manufactured at a reduced cost and on a larger scale for the crypto mining community.

While Kress’s comments have picked up considerable traction among crypto mining circles, the entire prospect hinges on a very sizeable ‘but.’ Of course, that is the possibility that the crypto mining market proves a lucrative one for Nvidia; something that Kress doesn’t hold much hope for. During the event, Kress added that “we don’t believe [mining demand is] a big part of our business today.”

To put this response into context, Kress referred to Nvidia’s RTX 30-Series of GPUs and how many interested parties may also be in the mining community. However, that isn’t to say that there is no market for them, especially when considering Ether miners. For example, an RBC analyst found that $175m in GPU sales came from Ether miners, more than $25m above what Nvidia speculated.

Miners of Ethereum appear to be a more lucrative consumer-base of Nvidia’s GPUs, as they rely upon more than ASIC-using Bitcoin miners.

Read Original/a>
Author: James Fox

XRP Climbs to 24-Month High with Monster Green Candle; Now Everyone Wants a Piece of It

Finally!

This is what a bull market looks like… when everything explodes without reason but because it is a wild bull season.

Today, in a violent move, XRP moved and posted a giant green candle. Such a big move was last seen in mid-September 2018 when the digital asset went from about $0.26 to $0.78 before continuing its descent into the darkness.

Such giant monster candles were previously seen only during December at the peak of the 2017 bull market.

At the time, the first green candle took it from about $0.22 to $0.90, another one was seen from $0.9 to $0.245, and the last one took it to an all-time high of $3.3.

It just might be the time for the fourth-largest digital currency to make some moves.

Amidst all this also came the reports of Ripple officially adding Bank of America. It has a long history of partnership that was never confirmed but has been finally included in its official website.

Going to nearly $0.440 over the weekend, XRP recorded gains of 40% in just one day. Continuing this uptrend, XRP went up further as high as $0.554 — a last seen level in November 2018.

At the time of writing, XRP has been trading at $0.533 with $2.59 billion in volume, the fourth largest volume after BTC ($3.52 billion), ETH ($4.06 billion), and USDT ($9.45 billion).

The digital asset first started trending up on Thursday when trading was at $0.283, and in just four days, XRP price has surged more than 95%. This strong breakout means everyone wants a bite of XRP, with analyst Mati Greenspan saying,

“When I sold 1000 XRP in 2017 for $1.08 a piece, I never thought that I’d be buying back in at 52 cents in 2020.”

Altcoins have started to pop out because Bitcoin has been taking a breather around $18,000, just inches away from its all-time high of $20,000.

Besides XRP, other notable movers on the first day of the week included DXT (424%), ZEN (67%), OXT (23%), and VeChain (14%). In this month alone, the total market has added $143 billion.

Read Original/a>
Author: AnTy

Zcoin Launches Lelantus Testnet, Leveraging Burn-and-Redeem Model for Enhanced Privacy

Zcoin, the privacy-focused crypto project, has launched Lelantus testnet as it looks to increase the anonymity features within its ecosystem. The testnet launched on October 20 leverages a burn-and-redeem approach to provide higher privacy for its blockchain transactions, coupled with short confirmation times.

This newly adopted model by Zcoin is an alternative to other decoys ‘anonymity functions’ that distort transaction trails. As for the Zcoin Lelantus testnet, users will be able to destroy an arbitrary amount of coins and later redeem new ones from the pool, eliminating the associated transactional history. Reuben Yap, the Zcoin project steward, told Coindesk in an email that,

“At any time in the future, you can submit a cryptographic proof that proves you destroyed/burnt coins without revealing which coin it was … This proof, once accepted, will allow you to redeem coins that do not have any previous transaction history or linkages.”

Lelantus testnet has done away with Zcoin’s initial model where users had to redeem the full amount of the coins burned; instead, they can now redeem partial amounts. Yap gave an example of a user who opts to burn $100; previously, they would have to redeem $100, but they can now take out a smaller amount with no trace it came from the $100.

This testnet also operates in a trustless manner based on the decisional Diffie–Hellman (DDH) assumptions. It means that the Zcoin privacy network will not require a trusted setup, as is the case in most cryptographic innovations. According to Yap, this quite a cutting-edge in preventing coin inflation,

“A compromised trusted setup in zero-knowledge proofs allows someone to forge the proofs, meaning that coins can be created out of thin air leading to hyperinflation … In privacy coins where amounts are obscured, such inflation can also remain undetected.”

With the Lelantus testnet scheduled to last for about one month, Yap hinted that 2.0 is already in progress. This version will offer more advanced features, such as allocating the rights to redeem burnt coins to another party.

Read Original/a>
Author: Edwin Munyui

TRON (TRX) Price Analysis (May 16)

• Tron looks bullish both in the medium-term outlook and in the short-term outlook.
• Buyers may put in their aggressive orders.

TRX/USD Medium-term Trend: Bullish

Key levels

• Resistance levels : $0.025, $0.030, $0.035
• Support levels: $0.007, $0.006, $0.005


The sustained bearish pressure pushed the cryptocurrency down during yesterday’s session to $ 0.014 in the support area during yesterday’s session.

The bulls brief return and push the price up at $0.015 in the resistance area as the daily session opens today.

The price which is up at $0.015 in the resistance area revolving around the two EMAs suggests the bulls are gradually returning to the market.

The stochastic signal pointing down at around level 55% in the overbought region indicates there may be a change in momentum in price of Tron in the future in the medium-term and in this case, a downward trend.

TRX/USD Short-term Trend: Bullish


The cryptocurrency is in the bullish trend in its short-term outlook. The formation of a bullish candle with a wick at $0.014 in the resistance area as the 4-hourly session opens today affirms the bullish presence in the market.
The price of Tron is now up at $0.015 in the resistance area. Price is below the two EMAs with the formation of a pin bar indicates there is likely to be a reversal in the trend.
The stochastic oscillator signals up at 46% imply buyers are beginning to take over the market and may likely continue in the same direction in the nearby days in the short-term.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.

Read Original/a>
Author: Ben Jordan

Ethereum (ETH) Price Analysis (April 22)

• The cryptocurrency is now showing a few bullish sign above the support level.
• Ethereum looks tasty for bulls in the short-term.

ETH/USD Medium-term Trend: Bullish

• Resistance levels : $240, $250, $260
• Support levels: $85, $75, $65


ETHUSD looks bullish in its medium-term perspective. The formation of the doji candle at $170.51 in the resistance area during yesterday’s session returns the bulls within the range.
Today’s daily candle opens on a bullish note at $170.79 in the resistance area.

Price is initially up at $184.24 in the resistance above $89.66 support level.

Ethereum now trades above the two EMAs at the time of writing this article which indicates that price is in an uptrend.

However, the stochastic signal pointing down at around level 66% in the overbought region suggests that the momentum in the price of Ethereum is in a downtrend and may likely continue in the same direction in the days ahead in the medium-term.

ETH/USD Short-term Trend: Bullish


The coin is in a bullish trend zone in its short-term outlook. A bullish spinning top hammer at 170.79 opens today’s 4-hourly candle in the resistance area.

With the price initially up at $183.40 well above the two EMAs and the stochastic signal up at around level 74% in the overbought region, suggests an upward momentum in price of the coin in the short-term perspective.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.

Read Original/a>
Author: Ben Jordan

Circle To Boost Adoption of USD Coin (USDC) With Business Accounts and API Services

As Circle looks to dive deeper into making its stablecoin (USDC) a household name, it is continuing to spin-off acquired projects that aren’t a core business. Next up on the chopping block is the crowdfunding platform SeedInvest that it bought back in October of 2018.

Circle has the intention to remain focused on the development of stablecoin products, announced Jeremy Allaire, Circle’s CEO and one of the firm’s co-founders. Included in this process, the company will roll out new Business Accounts and Circle APIs, that will allow developers to build on top of the USDC network.

Circle Has Many Revenue Streams

While Circle has many revenue streams, it’s still trying to grow its development and research wings, on which it has focused on ever since the summer of 2019, when it started to offer USDC products

Over the last year, Circle sold the crypto exchange Poloniex that it has bought in 2018, closed its payments app Circle Pay, also sold Circle Invest and Circle Trade to Voyager and respectively Kraken, not to mention is at the moment considering to sell SeedInvest too.

SeedInvest, No Longer at the Core of Circle’s Business

According to Allaire, SeedInvest is no longer at the core of the business conducted at Circle. The CEO’s said,

“We exited the exchange business … so the need for that set of licensing just doesn’t exist anymore. The second thing is this whole kind of tokenization, having regulated broker-dealers and tokenized securities, that’s been slow-rolled.”

Ever since January, the company has also reduced its number of employees from 300 to 125 as a result of its many departments being sold. Regarding this, Allaire had to say that:

“We had about 100 people who went with these different spinouts … [it was] a natural way for people to go with those businesses and product lines.”

What’s Next for Circle?

Speaking to Coindesk, Allaire said his company is planning to announce additional stablecoin products.

“We’ve been executing like crazy on USDC,” he said. “We’ve tokenized over $1.6 billion in USDC, crossed the $500 million market cap recently.”

These products will firstly include new business accounts that Circle is planning to offer to startups the new products for free and then transition to a usage-based subscription afterward.

Read Original/a>
Author: Oana Ularu

TRON (TRX) Price Analysis (February 29)

• Tron remains in a bear market, looks tasty for bears.
• Bulls losing momentum, could Tron slides to $0.01 from here?.
• Tron is close to support/resistance zone

TRX/USD Medium-term Trend: Bearish

• Resistance levels : $0.022, $0.024, $0.026
• Support levels: $0.014, $0.012, $0.010

The cryptocurrency is in a bearish market in its medium-term outlook. The market is falling hard as Tron slopes below $0.02 leading to a market-wide sell-off.

The cryptocurrency is in a descending channel with the formation of a bearish candle at $0.017 in the lower line of the channel in the support area as the session opens today.

TRXUSD is initially down at $0.016 in the support area below the two EMAs as the journey down to the lower line of the channel has already begun.

The stochastic oscillator signal pointing up at around level 12 % in the oversold region indicates the momentum in price of Tron might encounter a change in the future in the medium-term.

TRX/USD Short-term Trend: Bearish


The trend is falling and the price has not yet reached its goal in a strong support level of $0.012.

Today’s 4-hour bearish opening candle at $0.017 in the lower channel of the support area sustains the downward momentum with TRXUSD down to $0.016 in the support area.

With price below the two EMAs and the stochastic oscillator signal pointing down at 62% in the oversold region, it suggests that the downward momentum within the range in the short-term.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.

Read Original/a>
Author: Ben Jordan

TRON (TRX) Price Analysis (February 23)

• The trend of the coin looks bullish in its medium-term while the short-term outlook is in a range-bound.
• Patience is required at this moment.

TRX/USD Medium-term Trend: Bullish

• Resistance levels : $0.027, $0.028, $0.029
• Support levels: $0.016, $0.014, $0.012

Tron is in a bullish trend market in its medium-term outlook. The bears’ pressure is sustain as it continues to push the price of TRXUSD further down to $0.019 below the two EMA-9 in the support area during yesterday’s session.

However, the formation of the doji candle at $0.019 at the close of yesterday’s session signals a trend reversal. Hence bulls’ brief return.

Price is back within the range with a push to $0.020 by the bulls in the resistance area as the market opens today on the daily candle.

Price of Tron is initially up at $0.020 in the resistance area within the range..

With the price of TRXUSD above the EMA-50 and the stochastic signal pointing up at around level, 16% in the oversold region suggests that the momentum in the price of the coin is in an uptrend in the medium-term within its range.

TRX/USD Short-term Trend: Ranging


The coin is in consolidation in its short-term perspective. Today’s 4-hour opening candle at $0.0201 in the resistance area is bullish as the bulls remain dominant in the market.

TRXUSD moves up to $0.0208 in the resistance area. Price of Tron is initially up at $0.0208 and revolves around the two EMAs an indication of an undefined trend.

However, the signal of the stochastic oscillator points upwards at level 75% in the overbought region an indication of upward momentum within the range and a possibility of a change in trend of the coin in the days ahead in the short-term.

TRXUSD is ranging and trading between $0.019 in the resistance area and at $0.01 in the support area of the range. Patience coupled with a retest is needed before a position is taken.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (bitcoinexchangeguide.com) holds any responsibility for your financial loss.

Read Original/a>
Author: Ben Jordan