Coinbase Partners with DustAid for Crypto Donations During Christmas

In a recent blog post, Coinbase announced its charitable endeavors to help DustAid by allowing its customers to donate Crypto to three other charities, during the Christmas period. DustAid is an organization that supports projects globally. The partnership will give way to Coinbase users within the UK to donate crypto to important causes promoted by organizations such as NSPCC, a British children’s charity that keeps young people away from abuse as well as the Little Edi Foundation, which supports and provides grants to rural communities in Romania, which are struggling, and Space for Giants, who endeavor to protect the future of elephants and their habitat.

Louise Corden, the Lead Digital Producer for NSPCC, adds, “Raising funds via cryptocurrency highlights how the NSPCC is continually exploring new ways to enable people to donate to the charity and contribute to our fight for every childhood. We are really grateful for the backing we have received from DustAid and Coinbase, and we now hope that users of cryptocurrency go to their platforms to make a festive donation to Childline.”

In addition, the managing director also believes in the meaningful impact blockchain technology can have on people, on a global scale. To quote, “DustAid’s mission is to make giving a simple, easy, and transparent part of our daily lives. We are really proud to be working with leading organizations like Coinbase and NSPCC to make this a reality and to help children be heard this Christmas.”

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It is the Season of Giving! Binance Charity is Giving Back with TravelBit's Partnership

Christmas is around the corner. In the spirit of giving back to the community, Binance Charity is continuously working to build blockchain-based solutions to resolve issues on social problems and the opportunity for people to get out of poverty. A widely discussed advantage of blockchain technology is how charities can show more transparency with the donations they receive. Hence, the partnership between TravelBit and Binance Charity will allow travelers to donate to the ‘Binance Lunch for Children’ project while booking flights or hotels on the TravelBit website.

Helena Hai, the head of Binance Charity, states, “We are very pleased to have TravelbyBit’s support to the vulnerable people via our blockchain-based charity solution, Donations through the platform will be ensured with full transparency, accountability, and direct reach to end recipients. Technology should work for people; the collaboration with TravelbyBit is demonstrating the industry’s effort to use technology to shape a future that works for all of us by putting people first and empowering them.”

In addition to this, Caleb Yeoh, the CEO of TravelBit, affirms that “Permissionless cryptocurrencies like Bitcoin provide anyone with the basic right to transact freely. TravelbyBit is one of the first online travel booking platforms that provide travelers with cryptocurrency payment options, introducing a solid use case for the digital asset…”

Just before this announcement, a similar partnership was formed between Coinbase and DustAid to allow crypto users within the UK to donate to charitable organizations, read more about it here.

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First in the World? Lithuania Central Bank Approved Blockchain-based Digital Collectible

As revealed in a recent press release, the Bank of Lithuania has approved a sample size of the physical version of LBCOIN, a silver digital collector coin equivalent in value to €19.18. The coins were produced to commemorate the year of the Act of Independence of Lithuania and its 20 signatories.The sizing and form of this coin will be like that of a credit card, equally, it will depict the Act of 16 February 1918. The coin features a digitized picture of the Council of Lithuania as well as a Lithuanian Flag on one side coin. To add to its value, the national anthem has been inscribed in binary code. The other side of the coin showcases the Vytis – the coat of arms which represents the Republic of Lithuania.

The digital token was designed by Giedrius Paulaskis, and the Bank of Lituania is preparing to release 24,000 blockchain-based digital collector tokens. Every one of these tokens will feature one of the 20 signatories of the Act of Independence.Upon purchasing the digital coin, the collector will get one of the six randomly selected digital tokens. Once they have a collected token from each of the six available categories, they will be eligible to exchange the set for a physical silver coin.

Image via Shutterstock

Bank of Lithuania Launches First Blockchain-Based Digital Collector's Coin As Test for CBDC

The Bank of Lithuania has launched the first central bank-produced digital collectors coin dubbed “LBCOINS” as part of its trial of blockchain technology and testing in its development of central bank digital currencies (CBDC). The Central Bank of Lithuania has been developing the project since March 2018 and is currently entering the final phase of the trial.

Wake-Up Call for Central Bankers

Deputy governor of the Bank of Lithuania, Marius Jurgilas, said: “No one in the central bank community was thinking about digital currency seriously before we realized that there is a legitimate threat that someone else will take our space.” Jurgilas further stated: “We need to provide society with what it wants.”

The Bank of Lithuania said that its project is more of an experiment rather than an official launch of a tradable digital currency. Lithuania’s central bank sets to issue the blockchain-based LBCOIN on July 23.

The LBCOIN design consists of one physical silver collector coin and six digital tokens. This means that users who purchase LBCOIN would first get a set of six digital tokens, which can then be exchanged for a physical silver collector coin.

Pre-sales for 24,000 digital LBCOINs will begin this week, sold in packs of 6 digital tokens for €99. Each digital token would feature a portrait of one of the 20 signatories who signed Lithuania’s Declaration of Independence in 1918, which has been divided into six categories: academics, diplomats, presidents, industrialists, municipal servants, and priests.

Users will be able to buy LBCOINs in form of six digital tokens and then exchange for a credit card-sized physical silver coin worth €19.18. The Bank of Lithuania clarified that: “Their use as a means of payment will not be encouraged” as it is meant to “engage more people, especially the youth, in coin collecting” while gaining “valuable experience and knowledge in the field of digital currencies.”

Jurgilas said that the LBCOIN is based on a similar method of creation as the one being developed for their CBDC (central bank digital currency). This initiative puts Lithuania at the forefront of the development of a state-backed digital currency. Jurgilas said that LBCOIN is the most advanced experimental project to test different reincarnations of the central bank digital currencies.

LBCOINs can be exchanged directly with the central bank as well as on private blockchain networks. LBCOIN is built on top of the NEM public blockchain. Once purchased, the LBCOIN can be stored in a NEM wallet or a wallet dedicated to the LBCOIN’s online shop. Furthermore, LBCOIN can be swapped with other purchasers and also sent as a gift.

CBDCs Hit Top Gear Amid COVID-19

The steady decline in the use of physical cash and the prospect of Facebook’s 2.5 billion users adopting Libra cryptocurrency has led central banks to explore how they can issue their own forms of state-backed digital currency. The COVID-19 outbreak has accelerated the development of central-bank digital currencies as it has prompted people across the world to turn to cashless payments. Central banks are seeking to introduce CBDCs to avoid fragmenting the monetary and financial systems.

Ripple Outpaced Other Blockchain Companies on Inc's List of Fastest-Growing US Companies

Ripple has outpaced other indigenous blockchain companies on a recently published list of 5000 fastest-growing private companies in the United States. Inc, one of America’s leading business magazines ranked Ripple in the 123rd Position.

The business magazine revealed that Ripple has recorded a significant milestone in the past three years spanning 2016 -2019 with about 3,039% growth, and a median growth of 165% within the same period.

The United States of America is replete with notable blockchain companies including Kraken, Bakkt, and Coinbase which makes the Ripple ranking applaudable.

Ripple’s Growth Was Fueled By its On-Demand Liquidity Service

Ripple’s growth in recent years was fueled by the company’s two unique products, its On-Demand Liquidity service, and the Ripple (XRP) coin. The former offering has gained massive traction as it is seeing increased adoption by financial institutions around the world. The On-Demand Liquidity service offered through the RippleNet platform helps bring instant payment settlement, particularly in cross border transactions to customers around the world.

To boost its On-Demand Liquidity service provisions, Ripple entered into a partnership with payment service giant MoneyGram in a deal worth over USD 70 million. As MoneyGram CEO said, the partnership helped the two companies expand the use of On-Demand Liquidity which has thus far helped in ‘creating better customer experiences’.

Ripple’s Chief Executive Officer, Brad Garlinghouse has also rightly noted that world governments are now seeing blockchain as a viable solution to addressing transparency and settlements, a position that has further fueled his campaign of Ripple’s On-Demand Liquidity service.

As the major coin used for the On-Demand Liquidity settlements, the Ripple (XRP) coin, has seen impressive growth in recent days. Thus, it has regained its place as the third-largest cryptocurrency by market capitalization. While the XRP coin has seen some pushbacks due to low adoption, it remains a key component of the company value offerings, and indirectly its future prospects

Already Driving Real-World Crypto Usage, Gleec Team Launches New Exchange

The global crypto ecosystem only expands as users realize the real-world applicability of digital assets and distributed ledger technology. Alone, the worldwide blockchain market size projects to grow to $23.3 billion by 2023 hinged on an 80.2% compound annual growth rate. Market size totaled $1.2 billion in 2018.

Tangible and intangible asset management has also become more efficient due to tokenization and fractionalization across the crypto world. These endeavors present liquidity opportunities for assets not found in the traditional fiat world.

Projects like Gleec focus on fostering the real-world use of cryptocurrencies through a range of products that streamline and simplify the ability to buy, sell, trade, and store digital assets. Following in the footsteps of the native Gleec Coin, the recently-introduced Gleec BTC digital asset exchange to speed up mass crypto adoption.

Gleec BTC’s Exchange: Building On Scalable Solution’s Software

The newly-minted Gleec BTC exchange allows users to trade the native Gleec Coin along with GLEEC/BTC, GLEEC/EUR, and BTC/EUR trading pairs. The exchange features an accompanying Google Play and Apple iOS app for users to access, according to the project’s team.

Licensed in Estonia by the nation’s Agency of Economic Activities, the Gleec team utilized white label software from Scalable Solutions to craft the exchange.

Scalable Solutions, founded by Mark Berger, works with companies to harness technologies like Microsoft Azure with .NET and Open Source while focusing on product engineering services. Scalable Solutions is known across the crypto world for its industry-leading trading engine that has facilitated exchange growth.

Gleec CEO and co-founder Daniel Dimitrov remarks how “after listing Gleec Coin on exchanges that run on Scalable Solutions’ infrastructure and starting to actively trade on them, we realized the potential of the underlying exchange technology. We then decided to replace our existing exchange infrastructure for Scalable’s in order to provide our wide user base with the best trading experience in the market.”

The Gleec BTC exchange will profit from deep liquidity and a modular technological approach that aids in scalability. According to the Gleec Team, the user experience remains a priority through traceability, guaranteed security, and steps to promote transparency as coins are bought, sold, traded, and stored on the exchange.

Part Of A Stepping Stone Towards The Future

In the midst of launching the new Gleec BTC exchange, the native Gleec Coin is also listing on the Bittrex and Bithumb exchange.

Plans also include a prepaid Visa Gleec Card that gives holders the ability to spend Gleec Coin in more than 40 million worldwide terminals.

Three years after the launch of Gleec Coin, the team hopes the newly-launched digital asset exchange benefits the cryptocurrency community as a whole.

Image source: Gleec

Defying Gravity: Why XEM, CRO, and SOL Price are Trending Up Amid Market Downturn

The global cryptocurrency market is currently being dominated by bears, who have plunged the prices of the majority of the digital assets down. With Bitcoin losing as much as 11.14% in the past 24 hours to exchange hands at $49,722.08 according to CoinMarketCap, a host of other altcoins have trailed the trend. The Bitcoin drop is fueled by comments from Treasury Secretary Janet Yellen, saying the coin is extremely inefficient.

Per percentage gains, Ethereum (ETH) has shed as much as 15.01% to $1,587.46, Binance Coin (BNB) is down 15.01% to $1,587.46, and XRP has eroded the gains accrued on Monday, dropping over 14% to $0.5210. The decentralized finance tokens Chainlink (LINK), Polkadot (DOT), and Aave (AAVE) also lead losses for the sector with 15.83%, 9.02%, and 21.47% respectively.

As the majority of cryptocurrency falls in to a bear market, NEM (XEM), Crypto.com Coin (CRO), and Solana (SOL) are relentlessly defying the downward gravity, with appreciable price gains. Here is a brief overview of why these coins are resilient amidst an encompassing market dip.

Why XEM, CRO, and SOL are Up Today

NEM, the acronym for New Economy Movement, an ecosystem of platforms that use blockchain and cryptography to provide solutions for businesses and individuals and with XEM as the native cryptocurrency. The network recently conducted crucial testing of its network, reporting absolutely no hitches. This result is perhaps responsible for driving the price of the network token XEM by 17.31% to $0.6804.

Crypto.com Coin (CRO) has benefitted from a recently conducted token burn by the wallet service provider. The platform announced it will be burning as much as 70 billion of its token within the next weeks, the largest ever initiated by the platform. The decision to burn the tokens is ahead of the mainnet launch scheduled for next month.

The Crypto.com community has responded to the update with a serious buyup of the coin, a move that kept CRO as the highest gainer amongst the top 100 ranked cryptocurrencies by market capitalization. At the time of writing, the coin is up 31.43% in the past 24 hours to $0.1778.

Solana (SOL) is also up by over 23% today, showing a rare resilience when DeFi tokens are remarkably showing a strong correlation with Bitcoin. The Solana ecosystem seems spiked up with the news that SushiSwap may be migrating to its network, away from the Ethereum blockchain.

Is a Retracement in View?

Unless the current trend is a signal for a long-term bear season, the ongoing dip in the market may be as short-lived as those that have preceded it this year. Either way, all eyes are on Bitcoin to herald the switch to winning ways in the next couple of hours, or at most, days.

New Meme Coin DigiToads (TOADS) token to list on BitMart Exchange

Mahe, Seychelles, April 15th, 2023, Chainwire

The crypto market has been red hot recently. Bitcoin (BTC) ripped past $30,000, Ethereum (ETH) staking withdrawals will go live, breaking the $2,000 price point whilst Bitcoin (BTC) dominance dropped while its price climbs means it might be the beginning of an altcoin season.

A new powerhouse DeFi project, DigiToads, has confirmed it will list on BitMart exchange soon. The DigiToads presale has already raised more than $1.35M, and the lack of vesting enables holders to trade TOADS at the earliest available opportunity.

The DigiToads (TOADS) Cycle

The DigiToads presale, a new ICO, has already raised more than $1,350,000 in the earlier tranches of its presale. The project aims to be a top ICO, building on the successful presale raise which provided substantial discounts for early investors.

As soon as DigiToads launches, presale participants will be fully liquid and free to trade on the open market with no vesting.

The BitMart Listing

BitMart has confirmed it will be listing DigiToads to provide more liquidity and a broader audience. In addition, investors could monitor the progression through the presale, of which the TOADS token will increase incrementally in later stages, until it reaches a price of $0.055 per token in the last tranche of the presale.

What is DigiToads (TOADS)?

DigiToads blends NFT technology with a Play-2-Earn gaming model, allowing users to own their unique Toads and utilize their NFTs to earn money making DigiToads the best crypto to invest in this year. Users can battle and breed their Toads in the Toad-Cade, and at the end of the season, 50% of the funds raised from in-game item sales will be allocated to the monthly prize pool. The top 25% of players will receive an allocation, meaning the most dedicated will be rewarded for their participation and skill.

DigiToads also introduces two new revolutionary concepts to drive aggressive treasury growth. The first is the Toad School, which will provide an entire trading course allowing every TOADS holder to become a more efficient market participant. When the DigiToads decentralized exchange, The Trading Post, launches, they will be able to put their skills to the test and grow the protocol.

Secondly, the fabled Platinum Toad. There will be 12 Platinum Toads distributed to the most skilled traders in the Toad ecosystem, decided by on-chain trading competitions. Holders of the Platinum toad will have access to 1/12 of the TOADS treasury to trade and will receive 10% of all trading profits.

About DigiToads

DigiToads is a memecoin with utility built into its ecosystem. With NFTs, a Staking Platform and Play to earn game, the project aims to cement itself as a popular memecoin on the market.

To become a DigiToads (TOADS) holder today visit the website at https://digitoads.world and use the promo code BITMART20 to get a 20% bonus on the purchase. The coupon code expires on April 20th.

Contact

MrDigiToadsDigiToadsmarketing@digitoads.world

Token vs Coin: What's the Difference?

Token vs Coin: What’s the Difference?

Crypto coins and tokens are two commonly used but distinct types of digital assets. Both can be accepted as payments via a crypto payment gateway. It’s essential to learn their differences to understand the principles of the cryptocurrency world. This guide aims to clarify the distinctions between coin vs token, their creation processes, and their roles within the crypto ecosystem.

What is a Crypto Coin?

Crypto coins are digital assets that use their own blockchain networks. This means they are separate from other cryptocurrencies and fiat currencies. Most crypto coins are used as money to buy and sell things, and they can also be stored as investments, like gold or stocks.

How are Crypto Coins Created?

The production of cryptocurrencies follows the instructions coded into the algorithms of their underlying blockchains. For example, Bitcoin is created using the Proof of Work (PoW) method. In contrast, Ethereum, another well-known cryptocurrency, has switched from PoW to a Proof of Stake (PoS) system for issuing new coins.

Examples of Popular Crypto Coins

● Bitcoin

The pioneer of cryptocurrencies, BTC remains the most renowned and widely accepted digital currency, known for its decentralized nature and robust security features.

● Ethereum

ETH serves as both a medium of exchange and fuel for executing smart contracts and decentralized applications (dApps).

● Binance Coin

BNB is utilized within the Binance ecosystem for discounted trading fees, participation in token sales, and access to various services.

● Dogecoin

DOGE, inspired by the popular Doge meme, gained traction for its community-driven and light-hearted approach.

What is a Crypto Token?

Crypto tokens are assets hosted on existing blockchain networks and typically represent secondary assets within their respective ecosystems. They rely on blockchains supporting smart contract functionality, enabling the creation of programmable assets with specific use cases.

Types of Crypto Tokens

There are four main types of tokens:

● Utility Token

Provide access to specific functionalities or services within a platform.

● Governance Token

Grant holders voting rights over protocol changes and community governance.

● Security Token

Digitally represent securities such as bonds or real estate. Equity token is another example.

● Non-Fungible Token (NFT)

Certify ownership of digital collectibles, art, music, and other unique assets on the blockchain.

How are Crypto Tokens Created?

Tokens are typically pre-mined, allowing developers to create various economic models. Using smart contracts, developers establish the total supply upon creation, while the circulating supply dynamics are determined by the chosen model.

Examples of Popular Crypto Tokens

● Tether

USDT is the largest stablecoin, tethered to the value of the US dollar.

● Uniswap

UNI serves as the governance token for the Uniswap protocol, which is a decentralized exchange facilitating token swaps.

● Arbitrum

ARB functions as the governance token for Arbitrum, a layer-two blockchain solution for Ethereum.

The Key Differences Between Tokens and Coins

While tokens are easier to create, they generally have lower trading volumes. In contrast, coins tend to have larger trading volumes and greater liquidity.

Use Cases and Purpose

For example, Bitcoin initially emerged as an alternative to traditional fiat currencies, aiming to serve various purposes similar to paper money and coins. This includes storing value, facilitating exchanges, making payments for goods and services, and enabling P2P transfers.

Crypto tokens are typically tailored for utilization within specific blockchain projects or dApps. They are not mined but created and distributed by project developers and can serve a lot of purposes within their respective ecosystems.

Underlying Technology

Coins have their own dedicated blockchain, while tokens are built on top of existing blockchain networks. Tokens also often use multiple blockchains.

The availability of hardware and software resources affects the methods used to acquire various types of digital assets. While cryptocurrency coins can be created through mining or staking by anyone with the necessary equipment, tokens are typically controlled by their developers or creators, who have the ability to generate the entire supply at once.

Supply and Distribution

Coins, such as Bitcoin, are created through mining, where people have to solve complex math problems to secure the network. New coins are released gradually based on a set schedule, keeping the supply under control. Tokens, on the other hand, are created by project creators and distributed through initial coin offerings (ICOs) or token sales.

Stablecoins: Coins or Tokens?

Stablecoins are a significant component of the cryptocurrency market. They are pegged to fiat currencies like the US dollar to maintain stability. Despite their name suggesting they are coins, stablecoins are technically tokens. For instance, Tether, initially an ERC-20 token, illustrates this distinction.

The Role of Tokens and Coins in Decentralized Finance (DeFi)

Coins and tokens play integral roles in DeFi, serving as the building blocks of innovative financial protocols and platforms. Let’s explore how these digital assets contribute to the decentralized ecosystem.

Tokens in DeFi

DeFi thrives on the ability of smart contracts to make different tokens work together. This allows for easy transactions and new services in finance. Tokens power many different kinds of DeFi platforms, not just exchanges.

Coins in DeFi

Digital currencies such as Bitcoin and Ethereum are essential building blocks for DeFi. They provide liquidity and value to the ecosystem. DeFi platforms use these currencies for securing loans in lending agreements, creating liquidity pools in decentralized exchanges, and so on.

Investing in Tokens vs Coins: What to Consider

From risk tolerance to investment goals, understanding the nuances between investing in tokens versus coins can significantly impact portfolio performance.

Liquidity and Market Capitalization

Generally, coins tend to have higher liquidity than tokens, as they often have larger trading volumes and more established markets. Higher liquidity can provide investors with greater flexibility and faster execution of trades. Coins with higher market capitalization typically have greater stability and are perceived as less risky investments.

Utility and Real-World Use Cases

Tokens are frequently utilized to raise funds for blockchain initiatives. Coins commonly serve as the foundational currency within a blockchain network, facilitating transactions for goods and services. However, certain tokens may also offer governance voting rights or access to unique platform features.

Regulatory Landscape

While some countries have embraced digital assets and enacted clear regulations to govern their use, others have adopted a more cautious approach or implemented outright bans. Regulatory uncertainty remains a significant challenge for investors and industry participants, influencing factors such as market accessibility, compliance requirements, and investor protection measures.

Future of Tokens and Coins in Web3 and Beyond

With the evolution of blockchain, tokens and coins will become even more important in shaping the future of Web3. Tokens will power DeFi, allowing assets to be digitized and traded. Coins will remain essential as methods of payment and for controlling blockchain platforms. Advancements like non-fungible tokens and interoperability between different blockchains will fuel the growth of the digital economy through coins and crypto tokens.

FAQ

Is Ethereum a coin or token?

ETH is the native coin of the Ethereum blockchain, functioning similarly to Bitcoin as a medium of exchange and store of value. However, Ethereum’s design allows for smart contract functionality and dApp development.

Can a token become a coin?

Yes, a token can evolve into a coin by migrating to its own purpose-built blockchain network.

Why use a token instead of a coin?

Tokens offer more flexibility for specific use cases and functionalities within a blockchain ecosystem. They are often utilized for trading and accessing unique features or services, while coins primarily serve as investment or transactional assets.