What you should know about the latest FUD around Solana
The last two years have seen cryptocurrencies boom all around the world. Solana, in particular, has been one of the market’s foremost projects over the last few months, with its market performance taking many by surprise.
A lot of it has to do with a couple of market-centric updates. The expansion of the network’s ecosystem to include NFTs, for instance, has positioned it as a potential long-term rival to Ethereum. In more recent news, Solana wallet Phantom also hit the 1,000,000 active users mark.
What is blockchain technology and how is India planning to use it?
Blockchain is essentially a database, but very different from every other database you may have seen. As the name suggests, a blockchain is a chain of blocks, with each block storing some information.
Other key features of blockchain are that it is decentralised and by the very nature of that design, it is immutable.
Let’s see how that works by taking the example of the blockchain that powers Bitcoin, the world’s leading cryptocurrency by market cap.
When a new Bitcoin transaction takes place, it is transmitted to a network of peer-to-peer computers scattered around the world.
Bitcoin Starts Fresh Rally, Why BTC Could Breach $70K This Time
Bitcoin price started a fresh rally above $65,000 against the US Dollar. BTC is showing positive signs and it could rise further towards $70,000.
Bitcoin started a fresh increase above the $62,500 and $63,500 resistance levels.
The price is now trading above $65,000 and the 100 hourly simple moving average.
There was a break above a major bearish trend line with resistance near $61,550 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could accelerate further higher once there is a close above the $66,000.
Solana, FTX, Lightspeed Ventures To Launch $100M Web3 Gaming Fund
More paths open up for Web3 gaming as a $100 million investment fund is launched by the large blockchain venture firms Solana Ventures, Lightspeed Venture Partners, and FTX. A lot of enthusiasm surrounds the future of the GameFi industry as it grows exponentially.
The fund aims to invest in “the intersection of blockchain and gaming”; technology companies, gaming studios that incorporate the Solana blockchain. Gaming could be a great gateway for Web3 to bring in “next billion users”, said one of the partners.
The CEO of FTX Sam Bankman-Fried said in Tweeter that this partnership might build; “the biggest growth area in the sector: web3 + gaming + NFTs.”
How Crypto Can Impact The Creator Economy
If you are a creator who is operating online; you’re likely stymied by many challenges that are part of the creator ‘framework’ that exists today. Meanwhile, the audience of content consumers seems to be ever-growing, and the ‘creator economy’ has become ever-present.
Emerging platforms, such as Substack or Patreon; have laid a foundation for creator-first platforms – but many creators, even those that are far from presenting controversial content; face uphill challenges through today’s set of platforms. However, constraints for creators span far beyond just platforms.