In 2022, interoperability and bridging have been the top priority of developers. Alongside Polygon Bridge, several [bridges](/news/article/binance-bridge) are already in place that connect different blockchains. Among them, the top blockchains that provide a solution for this problem have been [Binance](/news/article/guide-to-binance-uk) and [Avalanche](/news/article/avalanche-crypto-metamask). 

[Polygon](https://polygon.technology/) is also an emerging network for interoperability. It offers two bridges that allow easy transfers between MATIC and Ethereum. Here, we discuss the workings of Polygon and explore how you can transfer tokens between different networks! 

## Polygon Bridge explained

It is yet another solution in the crypto space for asset transferring between different blockchains. Since the blockchain provides scalable infrastructure for networks supported by [Ethereum](/news/article/ethereum-the-merge), moving assets between blockchains is necessary. That's why a bridging mechanism was created to allow interoperability.

This provides the MATIC network with a cross-chain feature, which operates on a trustless smart contract. With the availability of this feature, you can send ERCs and [NFTs](/news/article/polygon-nft-drops-2022) to its side chains. 

There are two [Polygon bridges](https://wiki.polygon.technology/docs/develop/ethereum-polygon/getting-started/#pos-vs-plasma); one is Proof-of-Stake (PoS), and the other is Plasma. PoS bridging is a widely used option as it is highly flexible and supports more token standards.  

## How to use a PoS bridge

The following steps will guide you on using the PoS bridge. 

1.	Firstly, go to the [web wallet](https://wallet.polygon.technology/) and choose the Polygon Bridge option.
2.	Link your cryptocurrency wallet, like [MetaMask](/news/article/what-is-metamask) or any other, to it. Then, you need to sign a verification message and proceed to it by verifying the URL.
3.	It will redirect you to the bridging interface. Else, you can go to that page by selecting the option from the menu bar on the left. 
4.	Then you would need to send tokens from Ethereum to the Matic network. For this, click on the ‘Deposit’ tab and select the token you have to bridge. 
5.	After that, enter the amount as per your preference and proceed with ‘Transfer.’
6.	Next, it will show you important reminders about what it supports and what it does not. After reading that, you can go ahead with ‘Continue’.
7.	Then you will be able to review the estimated transaction fee. Here check all the transaction details and proceed with ‘Continue’.
8.	 Next, it will ask for your approval via signature. If all the details are correct, continue by clicking ‘Confirm’.
9.	Your transaction will take a few minutes. Meanwhile, you can monitor its status through [Etherscan](https://etherscan.io/).  
 
[Polygon](/news/article/polygon-crypto) provides a formidable infrastructure for Ethereum-compatible blockchains whose bridging tool completes it by providing cross-chain asset transfers. It has two bridging options; PoS and Plasma. 

PoS can be ideal as it allows flexibility and supports many tokens. If you own a crypto wallet, like MetaMask, you can easily integrate it with the Polygon Bridge to transfer your assets between different blockchains.
 


Polygon Bridge Guide: Transfer Your Asset

Given the volume of people searching for 'Python get crypto prices Binance', there is clearly a high demand for using the Python programming language to obtain data from the world's largest cryptocurrency exchange.

If you have been Googling 'Python get crypto prices Binance', then this article might help you understand how to create and use the Python-Binance API.

When it comes to cryptocurrency trading, Binance has established itself as a market leader. According to coinmarketcap.com, it now ranks first in Bitcoin volume and well in several other currencies.

Using Python or a variety of other programming languages, you could easily use the Binance API that helps your device to connect with the Binance servers. An API allows data to be transferred between software products. This entire process is done with a set of programming codes. It also includes the terms of the data transfer. You can use the Binance API to robotize your trading.

Binance provides the RESTful API, which consists of an assembly of interlinked resources and sends and receives data via HTTP queries. It conforms to the design principles of the REST, or representational state transfer architectural style. A WebSocket, a computer communications protocol,  is also provided, allowing data like price quotations and account updates to be streamed.

## How to install Python Binance

To install Python Binance, you could use the pip package manager. This Python library allows you to access data such as price-related information using the Binance API. Don't worry if you are not a programmer; it is not such a challenging task. You don't need to have coding experience to install Python Binance.

Go to the command line, terminal, or the shell on your device and type “**$ pip install python-binance**”. 

## How to create Binance API

With the help of an API, you can get data directly from the Binance's servers with the assistance of various programming languages, in this case Python. You can interact with the Binance data via third-party applications, and look at your wallet status and your past transactions, trade, and deposit. You can also withdraw money from third-party programs, which reduces your workload and automates the overall process.

**Step 1**: Log in to your Binance account and click on the user centre icon. Here you will get a dropdown menu. Click on API Management.

**Step 2**: Once you click the API Management button, you will be directed to a page to create an API. Here you will be asked to label the API and proceed. Also, enable two-factor authentication on your account, which is essential for creating an API.

**Step 3**: You will be asked to complete the security verification, like email verification, phone verification, or Google verification, with your registered device.

**Step 4**: Your API is created, and you will be asked to take note of the IP access restrictions.

Connect to client object using Python

As you have already installed Python-Binance and you have your Binance API, you need the Python library and to connect it to the Binance client.

You could achieve this using the following [four command lines](https://python.plainenglish.io/how-to-set-up-and-use-binance-api-with-python-3e33a51210d9):

from python-binance import Client

api_key = "your api key"

api_secret = "your api secret key"

client=Client(api_key,api_secret)

**How to get all the coins available on the platform with their respective price**

To get the price, simply write the following line of code:

**getPrice = client.get_all_tickers()**

However, the data format that you get as output is quite unreadable. To solve this problem, you must install and import pandas in the Python document to stock the available data in a DataFrame.
Command line to install pandas:

**pip install pandas**

**import pandas as pd**

You could also get historical data from the DataFrame by specifying the asset, start date, end date, and time frame.

Now, you could retrieve the information using the command:

historicalData =pd.DataFrame(assert,timeframe,start,end)

Now, if you want to view the data graphically, you must install and import the mplfinance library.

As we already have all the data and the graph using Binance Python API, we could easily confirm our trading strategy by looking into how an asset performed in a given custom time set.

Find out more blockchain based news at [Latest Moni](https://monitalks.io/news/category/blockchain-news).


Python: Get Crypto Prices from Binance

The rise of various blockchain companies has brought a lot of advancement and progress in how we see and work with blockchain technology. However, due to the loss of several investments to shady companies and projects, there has also been a level of caution. [Cryptoland](https://cryptoland.is/) is one of the mega projects that has brought uncertainty and doubt to crypto lovers and investors.

## What is Cryptoland

The Cryptoland project comes off quite differently from other blockchain and [Metaverse](/news/article/web3-games) projects. The founders aim to create a physical community to fill the experience that online communities cannot offer. It is said to be a real-life island NFT project. The company is [reportedly](https://thenextweb.com/news/welcome-to-cryptoland-real-island-cryptocurrency-fans-analysis) founded and led by Max Olivier and Helena Lopez with this mission to unite crypto enthusiasts.

According to their website, it aims to build a powerful ecosystem of crypto enthusiasts for crypto enthusiasts. They claim the island will have co-working zones, incubators, hotels, restaurants, et cetera. According to the founders, it will encompass all facilities for the community to thrive.

## Is Cryptoland real?

Cryptoland majorly offers land for investment, which has drawn the attention of investors around the globe.

There is speculation about whether this is real or just another elaborate scam.

"We are building the number one crypto destination on earth," their website says as they make their ambitions known.

This audacity may not have put some fears away, as some people question the safety of the investment for various reasons.

It was originally planned to be an island in Fiji, but information about the purchase or ownership is yet to be publicly available. This also means that there is no information on whether the project has started or not.

The uncertainties around the project have caused several criticisms among well-known personalities.

Molly White, a well-known crypto sceptic, did research that included a [report](https://twitter.com/molly0xFFF/status/1478500436873293828) of her findings on Twitter and an [online conversation](https://www.youtube.com/watch?v=aAYSUpCmVd8) with the founders.

## Is investing in Cryptoland worth it?

Cryptoland says most people struggle to transition into a full-time crypto lifestyle because they are isolated, and their innovation will solve this problem.

The arguments have been on whether there is really a problem to solve, the profitability of the venture, and the sustainability of the same.

Many have bought into this project and do believe in it. The major investment that is being made is the purchase of land in this community.

The Blockchain Hills area, a part of the project, is [reportedly](https://twitter.com/molly0xFFF/status/1478515610585817091) worth about $1.3 million; however, little detail is given on whether it has been purchased and how it will be managed. The Blockchain Hill is to be sold as "King Cryptolander NFTs".

Amid this, Cryptoland continues to gain popularity and has not shut its doors to the public on its company mission of uniting crypto enthusiasts.



Exploring the Cryptoland

In May 2022, the need for Terra solutions landed. The Terra ecosystem experienced a catastrophic crash, with more than $50 billion wiped out from the market as [LUNA plunged](/news/article/terra-luna-collapse) by 100%. 

[Terraform Labs](https://www.terra.money/) is a platform that introduced one of the most popular algorithmic stablecoins, [TerraClassic USD (UST)](https://coinmarketcap.com/currencies/terrausd/). It also introduced a high-performing coin, LUNA, now known as LUNAClassic. But this year, its price declined from over $100 to $0. 

Since then, the platform has been making efforts to revive the project. Among them, one of the significant steps has been the launch of Terra 2.0. Meanwhile, the CEO of Terraform Labs, Do Kwon, has offered several Terra solutions for its restoration.

Here, we look at how the platform plans to move ahead and whether it will be restored in the near future!

## How did the crash happen?

The platform operates on a swapping mechanism of two crypto tokens; UST and LUNA. The former is an algorithmic stablecoin backed by USD. The latter powers the blockchain and helps maintain UST's value at $1.

This system allows holders to swap these tokens to get a guaranteed $1.

Unfortunately, this mechanism was not sustainable as there were no assets to back UST. That’s why when it lost its peg to the USD, it crippled the entire ecosystem. The algorithm failed when people started to burn LUNA to get UST’s $1. 

## Terra solutions proposed by Do Kwon

Right after the debacle, the founder and CEO of Terraform Labs took to Twitter to propose solutions for the recovery of the ecosystem. Kwon tried to reassure the LUNAtics community in a [thread](https://twitter.com/stablekwon/status/1524331171189956609) and gave possible Terra solutions. He acknowledged the selling pressure on LUNA and proposed a four-times increase in minting. The idea was to help strengthen TerraUSD so investors could cash it out anytime. Kwon also formally presented it at the governance forum. 

Terraform Lab’s CEO put forth another proposal, [1623](https://station.terra.money/). This endorsed the origin of a new chain, which was eventually accepted. Following the acceptance of this solution, a 2.0 version surfaced, and previous versions were renamed to classic ones. The ecosystem also airdropped the new tokens for the existing holders. This was a recovery plan to reset the network.

## Are Do Kwon's Terra solutions sustainable?

After the emergence of a new chain, [LUNA](/news/article/luna-price-prediction) has seen a quiet recovery period. Besides, it recently experienced a positive run where its price reached $6.72. However, currently, it's worth is again down to $2.72. It would be too early to comment on how this new blockchain is performing. But, indeed, there are some key issues.

First, this version has not influenced the current state of the classic UST. One reason behind that is the lack of investor confidence in the token. Investors are still not ready to exchange their dollars for this stablecoin. 

Second, its airdrops pledge 40% for the old token holders. This move will also be ineffective as it would distribute the amount unequally. Ideally, the holders who have more stakes should be compensated more. 

Moreover, another loophole about the airdrops is the involvement of the Anchor protocol. Not all investors had their tokens on this platform at the time of the collapse. So, how will it compensate wallets on other exchanges? 

Nonetheless, these Terra solutions are quite reasonable considering the extent of the collapse. However, for a sustainable solution, transparency is most important. Moreover, the lack of clarity about the $3.5 billion Bitcoin reserve, and the issue of Kwon hiding from the authorities, have increased the community’s suspicion. 

## Final thoughts 

Terraform Labs have gone through a disastrous collapse. So far, it is the worst in the crypto market’s short history. The loopholes in its algorithmic stablecoin resulted in draining billions from the market. Several Terra solutions were advanced for recovery. One major step towards it has been the fork of the blockchain.

It has helped in the recovery phase of the ecosystem. But there are still several issues with this approach. For sustenance, changes in algorithm and transparency are inevitable. 
 


Terra Solutions: How is it Moving Forward?

A new blockchain is coming, adding to the [Synapse](https://synapse.network/) crypto offering. To understand why you should care about this new creation from Synapse Network, we must first define some of the technology involved. First, let’s talk about what the Synapse Protocol can do right now.

According to their website, Synapse crypto comprises an economically secure method to reach consensus on the validity of cross-chain transactions and a cross-chain messaging framework, enabling developers to build truly native cross-chain apps".

So, if the Synapse Protocol already does this, what more does it need? Well, apparently, the next step for them is to roll out the Synapse blockchain. Synapse released news that it deployed its own blockchain on 28 July.

This new blockchain is significant for developers who make cross-chain apps, and for crypto users who want to bridge their assets across chains, swap stablecoins on-chain, add to liquidity pools, and stake [ETH](/coins/eth) to earn SYN.

The Synapse Protocol was ALREADY able to do all the above for users. However, with the rollout of Synapse V2 and its own blockchain, there is now a much deeper level of fundamental security to the entire Synapse crypto ecosystem. More on this later.

Now, the new blockchain by Synapse Protocol will be an optimistic rollup, reducing fees for customers using their services.

## What is an optimistic rollup?

An ["optimistic rollup"](https://www.alchemy.com/overviews/optimistic-rollups), according to Ethereum.org, is a protocol designed to do a very important thing: reduce pressure on Ethereum by processing transactions off-chain and verifying them for fraud, then telling the network whether to accept the transaction.

It vastly improves processing speeds for users and makes things much more secure. Optimistic rollups publish transaction results on-chain, fully using [Ethereum’s verification process](https://ethereum.org/en/developers/docs/consensus-mechanisms/pos/), but store the transaction data elsewhere. This makes completing transactions much faster.

In simple terms, in an optimistic rollup, transactions are executed outside of Ethereum. What's more, the technology introduced by Synapse V2 will make transactions faster, [cost less gas](https://ethereum.org/en/developers/docs/gas/), and be more secure.

## The Synapse Chain

The basics of the Synapse Chain are defined in three protocols that are the backbone of Synapse. They are as follows:

1.	Generalized Cross-Chain Communication
2.	Optimistic Security Model
3.	Synapse Bridge

## Generalized Cross-Chain Communication

Synapse developed a generalized message system that can send data across different blockchains securely and seamlessly. Now, developers can deploy their applications on a single blockchain and communicate with multiple other chains. This has resulted in Synapse building a tool that can provide the same user experience, but from one application layer. Essentially, Synapse's generic messaging is a massive leap for combining blockchains in a universal way.

## Optimistic Verification

Synapse realizes one fact about the crypto and blockchain world: it will be multi-chain. There will be many, many blockchains, all doing different things, and all of them will need to somehow interact with one another to some degree. That's great for Synapse, who have developed excellent cross-chain infrastructure. So, what’s the problem?

Security. Many [interoperability platforms](https://finance.yahoo.com/news/top-ten-interoperability-cryptocurrencies-144813796.html) which enable cross-chain communication do not have high security standards. This changes with optimistic verification, an important part of Synapse V2. In this way, during a bridge transaction, there is a small window of time in which off-chain actors verify the transaction. This makes the...

## Synapse Bridge

Users can utilize Synapse Bridge to swap on-chain assets across more than 15 EVM and non-EVM blockchains. It supports both canonical token bridging and liquidity-based [cross-chain bridging of assets](https://www.techtarget.com/whatis/feature/The-best-cross-chain-bridges).

The Synapse Bridge has processed almost $11 billion in total volume since inception and shows little signs of slowing down. It is also available to developers for use in integrating cross-chain apps. 

There is a Synapse crypto token too. On 28 July, when Synapse released its V2 announcement, the price of Synapse crypto digital asset, SYN, spiked 32%!

[The Synapse Chain](https://synapse.mirror.xyz/L6dBb7aXIJ1Ll5_sxP2bIJxVEYNd43ZzIV6dRylQJxw) is an optimistic rollup blockchain executed with Ethereum, but it is also much more. According to their website, Synapse V2 will feature "generalized cross-chain messaging (that) enables any arbitrary data to be sent across blockchains, expanding mass-market use cases of cross-chain infrastructure to NFTS, smart contract calls...".

This is a massive development that will allow the users of the Synapse cross-chain token bridge to expand the use of Synapse in a big way – and allow them to access much more with their tokens.

## Synapse Protocol’s Impact

Cross-chain liquidity is something that is masterfully executed by Synapse. In less than one year, Synapse bridged $11 billion in volume with almost 1 million transactions. In its first year, it also served 150,000 users.

Synapse also partners with DeFi apps, allowing users to exchange assets between different blockchain games or infrastructures.


Synapse Crypto Protocol V2 Explained

Before exploring the Shiden Network price prediction, we need to understand what Shiden is.

[Shiden](https://shiden.astar.network/) is a [Kusama](https://kusama.network/)-based smart contract platform for decentralised applications (DApps). It was designed to support "layer 2" solutions, secondary frameworks built on top of existing blockchains to improve network scalability and transaction speeds. The network is intended to function as a [parachain](/news/article/polkadot-parachain-auctions) on Kusama.

Parachains are user-created blockchains linked to Kusama's Relay Chain, the network's main blockchain. The Relay Chain handles Kusama's shared security, consensus, and transaction settlements. Parachains benefit from the Relay Chain's base features by being integrated into it.

## Shiden Network: Astar's test network

The project is only the beginning of a much larger project: Astar (formerly known as Plasm). Shiden serves as a "Canarian network" or "test network" for Astar, whose goal is to provide a scalable and decentralised application development platform that defines and makes Web 3.0 a reality.

Astar is a protocol that runs on the [Polkadot](/news/article/polkadot-price-uk) network and incorporates every feature thoroughly tested on the Shiden Network. In essence, we can say that Astar is a superset of Shiden's stable functions, with the platform serving as the space for the protocol's rapid developments.

## How Shiden works

Shiden Network architecture is divided into two layers. The base layer is a layer-1 blockchain built with Parity's Substrate framework's Substrate Runtime Module Library. The second layer is a scaling solution built on the Plasma Group's Optimistic Virtual Machine (OVM) fork.

The OVM module allows developers to customise their scaling design. Projects can use Plasma or rollup types, such as optimistic or zero-knowledge (ZK) rollups, to connect their application layers to Shiden's base layer. The layer-2 solutions store data and regularly commit state transitions on a layer-1 chain.

The base layer built using Substrate is the parachain that connects to the Polkadot Relay Chain. Shiden includes support for Substrates' native WebAssembly VM and an EVM module for smart contracts written in Solidity or Vyper.

Shiden Network also includes an X-VM (Cross Virtual Machine) that aims to make the two VMs on the network interact with one another.

## SDN - The native token

Shiden's native cryptocurrency, SDN, is used for [staking](/news/article/crypto-lending) and rewarding nodes, paying transaction fees, and rewarding DApp operators. It has a critical role in maintaining and operating the Shiden network.

SDN performs the following functions:

1.	DApp Staking: DApp Staking is a scheme that allows users to stake SDN on DApps. DApp staking enables users to earn SDN rewards while also allowing DApp developers to earn rewards that are in proportion to the number of nominations they receive.
2.	Network staking: Token holders can stake SDN on the network and act as network collators (block producers on the chain).
3.	Fees - Users pay for network actions and transactions in SDN.
4.	Layer-2 Development - On Shiden, application developers can connect SDN to their smart contracts to use or create a Layer-2 version of their applications.
5.	On-chain Governance - SDN will be used to facilitate governance activities such as proposal submission and referendum voting.

## Shiden Network price prediction

SDN, which has a $71.39 million total supply and a $30.94 million circulating supply, is currently ranked #758 in the entire cryptosystem with a price of $0.33. Currently, its market capitalisation is $10.15 million, its maximum supply is $70 million, and its total equity market capitalisation is $22.95 million.

![Shiden1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Shiden1_5247cbf6ce.png)
 
According to [DigitalCoinPrice's](https://digitalcoinprice.com/forecast/shiden-network) price prediction, SDN price is expected to reach an average of $0.35 by the end of 2022. Additionally, the data shows that SDN's price will reach $1.35 in 2025. Comparatively, the coin does not appear overly bullish until 2030, when its average value is likely around $4.60.

## Is Shiden a good investment?

Looking at the Shiden Network price prediction, there is no universal consensus on whether future SDN price movements will be positive or negative. Indeed, future potential growth depends on various factors, including announcements, new technological solutions developed by Shiden projects, the crypto environment in general, legal status, and so on. 

## Bottom line

Shiden and its sister network Astar provide a distinct offering within the Kusama/Polkadot ecosystem. Not only for the unique ability to deploy DApps on multiple chains very easily and fully integrated with Substrate technology, but also for the incentive policy for DApp creators, which no other blockchain offers.

Furthermore, the DApps Rewards system is one of the protocol's most notable features. Not only because of the tremendous support it offers DApp developers, but also because of the opportunity it provides users to nominate and place their trust in said DApps while also receiving benefits for such trust.

Shiden is a project currently under development, and its development is closely related to what Kusama can provide for its users.


Shiden Network Price Prediction

[The Polkadot ATH](https://cointelegraph.com/news/polkadot-hits-all-time-high-in-development-activity) (all-time high) in platform advancement activity was reached recently. Data from the GitHub programming repository shows that the platform acknowledged more than 500 additions daily in September, a high for the multichain protocol.

A record 26,258 messages were transferred between its parachains, according to data from Polkadot's XCM cross-consensus interoperability protocol. On Polkadot's GitHub, 14,930 developer contributions were recorded in all.

[Polkadot](https://polkadot.network/) is an open-source, multichain protocol that unites and secures a network of specialised blockchains, allowing cross-chain transfer of data or asset type, thus making blockchains interoperable. The platform was created to serve as the foundation for Web3, a decentralised internet of blockchains.

According to project developers, 66 blockchains are operational on the platform and its parachain startup network Kusama. More than 140,000 messages have been sent and received between chains across 135 communications channels since the system's launch. The Polkadot and Kusama Treasuries have distributed 346,700 KSM and 9.6 million DOT ($72.8 million) to finance budgetary requests in the ecosystem.

## Parachain slot auction

Parachains are individual layer-one blockchains that run simultaneously on Polkadot and are initially tested on Kusama. [Auctions for parachain slots](/news/article/polkadot-parachain-auctions) are in the form of equity loans, with the position going to the project with the highest bid. The first auction took place in November.

The platform has continued to auction off parachain slots to innovative projects. The most recent cryptocurrency projects to receive a parachain were the identity protocol Kilt, the metaverse infrastructure company BridgePort, and the data solution firm Integritee.

## Future roadmap

Rob Habermeier, the network founder, recently published a roadmap for enhancing the scalability of [Polkadot](/news/article/polkadot-price-uk) and Kusama. Highlights include the potential to cut parachain blocking time in half while increasing space block provided tenfold through asynchronous support, which decouples parachain extension from relay chain extension. 

If the upgrade were implemented, network speed could rise to between 100,000 and 1 million transactions per minute.

After the Polkadot ATH was reached, there is more development activity to come. By the end of the year, Kusama will be the first platform to build the asynchronous support upgrade, followed by Polkadot. Establishing a blockchain on Kusama and the simultaneous launch of smart contracts would theoretically constitute another network update planned for the impending introduction of "pay-as-you-go" parachains. By doing this, the platform's development process would speed up.


Polkadot ATH Reached in Development Activity

The South Korean Government plans to incorporate digital IDs as an app into mobile devices in the future, [according to Bloomberg](https://www.bloomberg.com/news/articles/2022-10-16/south-korea-aims-to-boost-economy-with-digital-id-on-blockchain). The 'blockchain IDs' will be comparable to conventional resident registration cards. The report says that digital IDs will be available in 2024, with 45 million residents expecting to use the technology within two years.

## How blockchain IDs could be helpful to Korean Citizens

Hwang Seogwon, an economist at Korea's Science and Technology Policy Institute, said they could use digital IDs in finance, healthcare, taxes, and transportation. In contrast, Suh Bo Ram, Director-General of [Korea's](/news/article/samsung-south-korea-exchange) Digital Government Bureau, said the technology could help businesses that haven't yet fully transitioned online.

## Plan for the implementation of digital IDs in Korea

The plan also includes adopting a decentralised identification system. That means the government will not have access to information saved on phones, such as how and where they can use the digital IDs. 

According to the Portulans Institute, an American think tank, such technology is not new to the tech-savvy nation. South Korea ranks first among all nations using technology for life, commerce, and government. It would also not be the first blockchain-based ID system used in the country. [More than one million South Koreans have adopted a blockchain-powered driver's licence](https://techwireasia.com/2020/08/blockchain-based-drivers-licenses-hit-the-road-in-south-korea/) that functions through Korea's PASS smartphone application by August 2020.

## Will other countries follow Korea in implementing digital IDs?

While [South Korea](/news/article/daniel-shin-home-raided) is leading the way in these areas, other countries to follow soon. 

According to a June 2021 report from market research firm ReportLinker, [the blockchain identification industry will expand another $3.58 billion by 2025](https://finance.yahoo.com/news/blockchain-identity-management-market-grow-091500421.html), or a compound annual growth rate of 71%.

Brenda Gentry, CEO of Bundlesbets.com, recently told a crypto news website that regardless of how competent and decentralised the ID management system is, it would still require recognition from government bodies or corporations.



Blockchain IDs to be Given to Koreans

The network's basic principle is to function as an innovative contract platform that provides users with a one-stop hub for redeploying Ethereum Dapps without the need to configure them specifically for this network—built on the [Kusama](https://guide.kusama.network/docs/learn-staking/) blockchain, which serves as Polkadot's Canary network. 

Even though Kusama uses the same code as Polkadot, the network's capabilities are limitless. Kusama has grown into an independent ecosystem with a fully committed community and teams working on incredible web 3.0 projects.

Existing innovative contract platforms support users and assets on a single, specific chain. Moonriver enables developers to shift existing workloads and logic to smart contracts by extending the scope of applications to new users and assets on other chains by providing cross-chain smart contract functionality.

## How Moonriver staking work?
 
•	Users must have [MetaMask](https://metamask.io/) installed

•	Go to [apps. Moonbeam. network/moonriver](https://apps.moonbeam.network/moonriver)

•	Users should connect their MetaMask wallet and switch their network to Moonriver

•	Navigate to 'Manage Delegations'

•	Choose 'Select a collator.'

•	Select a collator and click stake

•	Ensure there is a minimum bond for each collator

## How to choose a collator for Moonriver staking? 

[Users](https://www.stakingrewards.com/earn/moonriver/) must select a collator with a lower total bond amount to optimise their delegation. By choosing a collator with a lower total bond, their delegation amount represents a greater percentage of the total amount [staked](/news/article/what-is-staking-crypto), resulting in a slightly higher reward. The collator list on the staking app is sorted from top to bottom, with the lowest total amount staked at the top and the highest at the bottom. They should be cautious, however, when delegating to the lowest amounts of total stake because they are most likely to be bumped to the waiting pool.

## Important things to note:

•	The total amount staked to the collator is small. Investors want to maximise their share of the rewards, so selecting a collator with a low total stake is advantageous. 

•	In the active set, it should not be too low. Collators on the verge of leaving the active set face greater risk: if another exceeds their total stake amount and leaves the set, all delegators will cease earning rewards. 

•	Rapid block production. Users want a high-performing collator with a higher chance of producing more blocks because rewards are according to the number of blocks produced each round.

•	Reputable. Users should use their assigned identities if they have one. By searching for them on Discord or elsewhere on the internet. Do they offer network infrastructure on other networks? Is there a track record of providing high-quality and validator services?

## How much can users earn from Moonriver staking? 

Users can earn X% on their $MOVR by experimenting with [lending metrics](/news/article/crypto-lending) and predicting earnings under various network conditions. 

## Are there risks to Moonriver staking?  

On the Moonbeam network, there is no risk of slashing. Since Moonbeam does not slash, users will never lose their original delegation amount. If an investor's chosen collator stops producing blocks, there is no reward for the time they are not producing blocks. Furthermore, there is a two-day unbinding period before users can access and transfer their delegated funds.




How Moonriver staking works

The stablecoin, [Circle USDC](/coins/usdc), has [reported](https://www.circle.com/en/pressroom/circle-announces-next-wave-of-usdc-support-for-multi-chain-ecosystem) that it will be adding five new blockchains to its support network. [Circle Internet Financial](https://www.circle.com/en/) has taken the step to become a better multichain ecosystem. It plans to expand support to the [Polkadot](/news/tag/polkadot/2), Cosmos, Optimism, NEAR, and Arbitrum One networks. 

The firm first announced this on Wednesday at the Converge22 conference. Other than the [Cosmos network](/news/article/cosmos-crypto-explained), the stablecoin will be natively available on all others by the end of this year. Meanwhile, on the Cosmos network, it will be rolled out in 2023. 
 
![usdc circle.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/usdc_circle_8a290a8d4b.png)

## Product VP on the multichain expansion

At the event, the Vice President of stablecoin issuer's Product, Joao Reginatto, shared his thoughts on the multichain expansion. He mentioned that Circle's USDC support for numerous blockchains will allow "greater liquidity and interoperability within the crypto economy." 

Moreover, he also announced that Circle's USDC will now be available on thirteen blockchains with the addition of new blockchains to come. Previously, it only supported eight networks. 

Circle's Product VP was also optimistic that the expansion might lead to more innovation. Also, he said that the exchanges, developers, and other institutions will enjoy "easier access to a trusted and stable digital dollar."

## Competition among stablecoin issuers

Stablecoins are crypto tokens that are backed by a fiat currency. Usually, the US dollar is used for it. They are essential in bridging the gap between the crypto market and the traditional economy. Stablecoins account for a total of $150 billion in the crypto market. 

Circle Internet Financial is one of them that offers stablecoins pegged with USD and [EURO](/news/article/euro-coin). It competes with other industry giants like [Tether](https://tether.to/). The company is looking to capitalise on its market share by extending its multichain support. 




Circle USDC expands support to five new networks

The [Cardano (ADA)](https://cardano.org/) network welcomes a new update, Vasil. After the [Ethereum Merge](/news/article/ethereum-the-merge) last week, on Thursday, September 22, the Cardano hard fork was successfully released. It is the most significant upgrade on the blockchain since last year’s smart contract update. It is likely to enhance the capability and performance of the blockchain. 

Charles Hoskinson, the co-founder of the network, announced the deployment of the Vasil in a [live Twitter space](https://twitter.com/IOHK_Charles/status/1573055811382829056). Meanwhile, [Input Output Hong Kong (IOHK)](https://iohk.io/), a blockchain firm, also proclaimed the procedure’s success. 

In a tweet, the firm said the launch took place at 21:44:00 UTC and collaborated with the Cardano foundation.

![cardano.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/cardano_306c5cc934.png)
 
Previously, IOHK also disclosed one significant feature of ADA’s recent update: block transmission will be possible without complete validation.

## What is the Cardano hard fork upgrade?

A hard fork is a blockchain split that results in two branches of the same protocol. It validates previously invalid transactions and blocks or vice-versa to develop a new version. There can be several reasons behind this update, like the performance limitations. 

In [Cardano’s](/news/tag/cardano) case, the Vasil update improved the network’s performance. It is to enhance the transaction speed and lower the transaction cost. Moreover, its Plutus smart contract will be upgraded to improve the decentralised applications.  

Though the Vasil has been deployed, the full features of this advancement will be accessible to the developers after September 27, as the upgrade is a lengthy five-day procedure. 

Before it went live, Charles Hoskinson said that the [Cardano hard fork](/news/article/cardano-vasil-hardfork) is one of the hardest to execute for the developers. This is the reason it got delayed and rescheduled several times. Initially, it was planned to take place in June but got postponed because of bugs in the mainnet causing compatibility issues. 
 




The Cardano hard fork upgrade goes live

AvengerDAO is a new community-driven security project that BNB Chain has created, the native blockchain of Binance. Its purpose is to protect users from fraud, harmful actors, and possible exploits.

[The decentralized autonomous organization (DAO)](/news/article/daomaker-guide) with a focus on security was established in collaboration with well-known crypto projects and industry leaders in the field of information security, such as Certik, TrustWallet, PancakeSwap, and Opera, to name just a few.

A passive application programming interface (API) called Meter, a subscription-based alert system called Watch, and a programmable fund management system called Vault make up most of the AvengerDAO security endeavour.

These three core components are referred to collectively as "Vault." AvengerDAO will add layer protection whenever a user on the BNB Chain interacts with any applications or counterparties. The Meter API system retrieves security ratings on smart contracts, domains, and addresses and notifies users if there is a weakness in the system's security.

## BNB Chain unveils a new mechanism managed by the network's community

The Watch system provides real-time notifications to users about active exploits. The Vault functions as an escrow service, holding users' assets until certain pre-determined criteria are satisfied before releasing those funds.

[Gwendolyn Regina, investment director at BNB Chain](https://cointelegraph.com/news/bnb-chain-launches-a-new-community-run-security-mechanism-to-protect-users), explained how the community would be responsible for security decisions. She also stated that the community would survey existing security auditing service providers to determine the types of common security vulnerabilities that are currently present. She said, "We believe that when other expert security audit firms become members of the DAO, we will jointly obtain a greater understanding of the security landscape, and we will work toward improving it."

From the beginning of September, users of PancakeSwap can retrieve the security ratings of smart contracts with which they are interacting if certain members of AvengerDAO, such as the security decentralized application (DApp) Hashdit, have already released an integration with PancakeSwap. 

BNB Chain has placed a particular emphasis on the safety of its users and has introduced several new safety measures in the previous few months. Before the AvengerDAO debut, the BNB Chain introduced Dappbay with an innovative feature called Red Alarm that launched before the AvengerDAO launch. This function analyzes the risk associated with the project in real time and notifies users of potentially dangerous DApps. Within a month after its introduction, the DappBay Red Alarm function recognized more than fifty on-chain projects as a significant threat to users.

During July alone, the safety feature assessed 3,300 contracts. AvengerDAO aims to become a multidimensional security initiative focusing on detecting real-time vulnerabilities and exploits, in contrast to Red Alarm, which was only intended to flag vulnerable smart contracts and projects that posed a financial risk. Red Alarm was created to identify projects and smart contracts that posed a financial risk.



BNB Chain introduces a new security system

Near protocol is on the run to become the quickest digital ledger in the world. 

The tier 1 blockchain network offers a platform for the [creation of decentralized applications by developers](https://www.coindesk.com/learn/creation of decentralized applications by developers what-is-a-dapp-decentralized-apps-explained/) (DApps). Since Ethereum is the most widely used layer one [blockchain](/news/article/blockchain-use-cases), this technology is Ethereum's new rival.

The token's price, which climbed to an all-time high of $20.44 in January 2022, is built around the concept of sharding, which attempts to break the system infrastructure into several pieces, also known as nodes, only need to process a subset of the network's transactions.

The network NeaCollective built uses a method called [Proof-of-Stake](https://cointelegraph.com/news/inside-the-blockchain-developer-s-mind-proof-of-stake-blockchain-consensus) (PoS) that supports smart contracts, thereby allowing efficient energy use and transactional cost. 

## Key takeaways under Near protocol

·	Near protocol is a tear one blockchain system that has implemented sharding to increase transactional throughput.

·	Between March and April 2022, the Near token's value doubled to more than $17. 

·	The network uses Proof-of-Stake as a staking technique to encourage wide-scale participation among its users. 

## How does the Near protocol achieve this?

The proliferation of decentralized applications (DApps) in the Bitcoin sector, including everything from games to financial services, has skyrocketed. But it's also apparent that scale is still a problem for most blockchains. 

It is no news that many digital ledgers have scalability issues, especially more established ones like Bitcoin and Ethereum. The root source of the problems is their inability to quickly process enormous volumes of transactions at reasonable prices.

This problem is being addressed by initiatives like this fast-growing technology, which creates a centralized system with a different architecture called [sharding](https://www.gemini.com/cryptopedia/glossary#sharding) to solve the issue. It entails segmenting the blockchain into smaller chains that are being worked on by various validators and that are frequently linked to one another. The network effectively avoids the issue of growing too large by slicing itself into smaller pieces.

This innovation is by no means the very first ecosystem to use sharding. It has been considered an Ethereum fix since 2013 and, as a result, claims that it offers "infinite scalability," which means that the number of transactions occurring on the framework can grow indefinitely without slowing down.

Sharding allows the technology to divide the cryptographic ledger into smaller, easier-to-manage chunks, lowering the computing effort, lightening the network's pressure and boosting transaction throughput. 

This protocol follows other Proof-of-Stake (PoS) programs with extremely cheap transaction fees compared to other blockchains like Bitcoin and Ethereum. 

According to the [Near](https://docs.near.org/concepts/basics/transactions/gas) website, the cost of transacting money is approximately 4.5 x 10-5 native tokens, making their transactions almost as inexpensive as those of Solana. 

As earlier mentioned, the digital application uses a PoS system against Ethereum's [Proof-of-Work](https://ethereum.org/en/developers/docs/consensus-mechanisms/pow/) (PoW). However, despite its features, the protocol still has much to prove as Ethereum's opponent. Others have been around for longer and are becoming popular; two of the most well-known are Solana and Polkadot, whose native tokens are SOL and DOT, respectively. 



Near Protocol: What it is and how it works

Polygonscan is a block explorer and analytics platform that lets users view and analyse any transaction on the Polygon blockchain. The Polygonscan API (Application Programming Interface) launched with various supports to provide features such as transaction tracking, gas tracker, and more, with additional features expected in the future.

Its release encourages developers to launch dApps using the [Polygon network](/news/article/polygon-crypto). As well as it also ensures that users have the best possible experience when using their favourite dApps for trading, buying and selling NFT, and a variety of other activities.

## How will Polygonscan assist?

MATIC is a blockchain scalability platform that promises to solve Ethereum's problems, such as low Tics Per Second (TPS) and high fees. When compared to Ethereum, Polygon has higher throughput. Compared to the Ethereum network, the gas fee on Polygon is relatively low.

The block explorer allows users to easily check blockchain data such as:

•	Daily transactions

•	Unique addresses

•	Average block size

•	Average gas price

•	Daily gas used 

•	Daily active ERC-20 addresses

•	Validators

•	Contract verification

•	ABI verification.

Polygonscan has capacity to handle the high transaction volume, processing 7 million transactions daily. Launching decentralised apps on the polygon blockchain will also be easier further to the networks recent upgrade.

## How to use Polygonscan to add the Polygon network in MetaMask

You can also use Polygonscan to connect Polygon to MetaMask by following the instructions below.

1.     Sign in to your online crypto account.

The first step is to ensure that you already have an online crypto account. If this is the case, install the MetaMask browser extension. When the download is finished, the Metamask page will appear, where you can log in to your account.

Click the 'Add Polygon Network' button. Then navigate to https polygonscan.com. Click on the small button with the words 'Add Polygon Network' at the bottom of the page.
 
2.     Join MetaMask and Polygon.

You will be redirected to the MetaMask page after clicking the button. Then press the "Approve" button. You have successfully connected the blockchain network to the online crypto account and will be redirected to the Polygon mainnet shortly.
 
## Is it valuable to get involved with polygonscan? 

Polygonscan comes with a variety of features that makes users' life easier. Getting involved with the block explorer can be beneficial in the long run. 



An ultimate guide to Polygonscan

The Seesaw protocol is a decentralized, multi-chain, noncustodial ecosystem of Defi products, protocols, and services. 

Launched in January 2022, the protocol is a fairly new and ambitious blockchain-based project created to bridge multiple blockchains. It is capable of running in all smart-enabled blockchains. It currently runs on the BNB Chain with plans to also run on the Ethereum and Polygon blockchains.

## The Seesaw token

The Seesaw token (SSW) is the utility token of the Seesaw protocol ecosystem. Holders of the tokens can use them to connect between the three blockchains to find the quickest and most reliable network at any given time.

SSW can be traded and farmed across the Binance Chain, [Ethereum](/coins/eth), and Polygon blockchains. The tokens have a max supply of 990,000,000 SSW coins.

Among the many reasons to get this digital currency is the reward incentive of simply holding them. A regular airdrop feature enables long-term holders of the token to earn extra coins.

As of writing, each coin is currently trading at $0.000964. According to [Coinmarketcap](https://coinmarketcap.com/currencies/seesaw/) rankings, they are the 7,943rd largest cryptocurrencies by market cap.

## SSW price movement

On April 8th 2022, SSW launched on Pancake Swap after being locked in presale for three months. Their price at the start of the presale was $0.005. On April 14th, the tokens experienced their all-time high price, trading at $0.46.

The tokens would, however, start to experience a price decline going forward. According to many expert investors, it was to be expected as the entire cryptocurrency space was experiencing a bear market. By the end of May, each SSW coin was worth $0.004495.

The tokens ended June trading at $0.001172 and July worth $0.0009315 each. Things are still not looking up for SSW as it continues with its downward trend.

## Is the Seesaw protocol a good investment?

Some crypto investors have pointed out a few concerns about the seesaw protocol (SSW)
. While it does offer a much needed solution in the crypto world its huge token price crash is of concern.

Huge crashes are, however, common in the crypto space. Shiba Inu (SHIB) is a good example of a cryptocurrency that has experienced several huge crashes and is still going on strong.

The fact that the project is backed by an anonymous team is also concerning to some people. But, so are many other crypto projects. Bitcoin continues to dominate the crypto market, yet its creator, Satoshi Nakamoto’s true identity, is yet to be known to date.

## Bottom line

To be fair, SSW is new, and we can only expect so much as the project behind this cryptocurrency continues to develop. 

As for now, how the tokens will behave in the future, only time will tell. On the bright side, their current market price makes them an ideal entry point into the crypto market. Just remember to do your research before investing in any crypto project.





The Seesaw Protocol Explained

As a novice crypto investor, one of the most difficult things to learn is creating accounts with different exchanges for buying different currencies or [trending crypto coins](/news/article/trending-crypto-coins). This often impedes users from entering the crypto market. But now, an easy solution for this is available in the shape of on-ramp platforms.

On-ramp platforms allow you to buy numerous cryptocurrencies in one place with your fiat currency. One fiat/crypto on-ramping platform that has become popular is [Transak](https://transak.com/) -the platform offers a smooth integration and onboarding process, which is ideal for small or medium-scale businesses. Let's find out how on-ramping works on Transak! 

## What is Transak?

Transak is an easy-to-navigate on-ramp platform allowing users to buy cryptocurrencies directly from their fiat wallets. It mainly works for small to medium-scale blockchain companies to offer their clients access to an array of coins. It currently supports over 100 cryptocurrencies on over 75 blockchains and is available in 125 countries. 

![transak.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/transak_a060de2ddb.png)
 
Currently, it is most popular in the UK, offering its customers an easy-to-integrate widget for their DApps. It can take care of all the KYC, regulations and offer multiple payment methods. With this widget, your fiat to crypto transactions would take about 8.5 minutes.

## How does Transak work?

Transak is built with keeping developers' ease of integration front of mind. It provides a customisable software development kit, making it flexible to be used with different platforms. It also offers white label APIs to further assist with customisation. 

## How to integrate it with DApps?

Firstly, you have to [create an account](https://dashboard.transak.com/login/email) with this on-ramp platform by providing all your business details and verifying them. Then head to the partner dashboard to explore API keys and secrets. You can also choose your percentage commission through the dashboard. For integrating it into your DApp, you can easily add the widget to your business website by adding [this code](https://transak.gitbook.io/transak-docs/coverage-and-capabilities/integration-options/browser-redirect-integration). You can also use various software development kits (SDKs), including JavaScript, Angular, Android, iOS, React Native, and others, to easily integrate. 

## Transak vs other crypto on-ramps

It is a relatively new name among the on-ramp platforms. Several other big players like eToro, Binance, Coinbase, Kraken, Crypto.com, and others exist. These platforms offer much more dynamic on-ramping services as they are exchanges. Moreover, these exchanges can complete transactions within seconds and have a larger library of cryptocurrencies. 

On the other hand, these are higher-priced options that are not desirable for small firms. Transak may serve as a better choice for these firms as it is cost-effective and does not require too much developer assistance. That's why it may be a worth exploring option for your business. 

## Bottom line

Fiat/crypto on-ramping has become a crucial requirement for users. It helps them to do trading on the go directly from their fiat wallet. Though numerous big names exist in this space, these are costly for small businesses. 

However, Transak provides a relatively economical option you can easily offer your customers. It deals with more than 100 coins and is flexible to integrate into your app or website. 




Transak fiat/crypto on-ramping explained

[Nyzo](https://nyzo.io/) is a democratic, open-source, decentralised, and effective blockchain. The system prioritises scalability, and the block time is seven seconds. The project was created entirely from scratch, with completely new coding, with an emphasis on simple and safe usability.

It is an ecosystem that consists of coins and non-fungible tokens. The coin is used to power the ecosystem, and the NFTs are used to represent digital assets stored on the protocal.

The Nyzo blockchain was created to build a more sustainable blockchain ecosystem. The team behind is committed to creating a fair, secure, and transparent platform.

## Consensus model

It is based on a consensus model "proof of diversity.” Proof of diversity necessitates active participation in the form of time and verifier behaviour in the blockchain to impact the system as a whole. The proof-of-diversity blockchain establishes the authoritative form of the blockchain through verification cycles. This is neither proof of work nor proof of stake. It is a new consensus mechanism that draws strength from diversity of participation. While proof-of-diversity has its own concerns that must be addressed in order to ensure the blockchain's integrity, it aims to overcome the problems inherent in [proof-of-work and proof-of-stake](/news/article/pos-vs-pow) systems while remaining efficient.

The NYZO network (Mesh) comprises "verifiers" who verify new blocks every 7 seconds in a circular pattern. The mesh is split into two groups: the "in cycle" and the "queue." Verifiers in the cycle build the actual blockchain network and earn money by verifying blocks in a circular order, while verifiers in the queue wait to join the cycle.

A new verifier is selected to join the cycle after every two full cycles by receiving votes from existing verifiers. This process is completely automated and random, and each verifier has the same chance of joining the cycle. This mechanism ensures the greatest possible diversity.

## Nyzo price

The current price of the coin is $0.022132417070, with a 24-hour trading volume of $25,023.81. In the last 24 hours, the price of has fallen by -4.7%. There are 21 million coins in circulation, with a total supply of 100 million.

The NFT-"Nyzo around the world" has a current floor price of 0.17ETH. 

## Is Nyzo a worthy investment?

The forecast for the coin in 2022 is Bearish, based on multiple [technical quantitative indicators](https://coincodex.com/crypto/nyzo/price-prediction#technical-analysis). This could indicate that the coin can be a risky investment in 2022. According to Nyzo price prediction, the price will rise by 4.33% to $ 0.023112 by August 25, 2022. However, before deciding whether to buy or not, it is critical to consider both technical factors and study the market before investing. 



The ultimate Nyzo blockchain ecosystem guide

Invesco, a global asset management firm, has [launched a $30M Metaverse-focused investment fund](https://www.cryptotimes.io/invesco-launches-multi-million-dollar-metaverse-fund/).
 
Registered in Luxembourg, the Invesco Metaverse Fund has around $30 million in capitalization. The Metaverse is a network of immersive 3D worlds and online communities where people interact using virtual reality headsets and augment reality.
 
The Metaverse fund will be invested in large, medium, and small-cap companies across the Metaverse Value Chain, which "encloses many different interrelated sectors that help facilitate, create, or benefit from the growth of immersive virtual worlds."
 
According to Tony Roberts, a fund manager at the investment firm, The interconnectedness of the Metaverse "will probably have a transformational effect across businesses as diverse as healthcare, logistics, education, and sport," noting a PWC December 2020 report that estimates virtual and augmented reality has the potential to add $1.5 trillion to the world economy.
 
Roberts continued, “We will aim to take advantage of these possibilities in a selective, valuation-conscious manner”.

## 7 core investment areas

The Invesco Metaverse Fund is an actively managed fund that will invest in seven key core areas, including:

1)	hardware and devices that provide [Metaverse](/news/article/farming-games-in-metaverse) access
2)	next-generation operating and computer systems
3)	hyper-connected networks
4)	artificial intelligence
5)	blockchain solutions
6)	interchange tools required to achieve system interoperability
7)	Other services and assets that will aid in digitizing the real economy.

All of these areas of focus are envisaged to plug together to form the Metaverse and next generation of the internet, also known as Web 3.
 
 
In March 2019, Invesco launched its first blockchain-related exchange-traded fund (ETF) on the London Stock Exchange. The firm was also actively seeking to launch several Bitcoin-related ETFs in the United States but to no avail.
 
Invesco partnered with crypto indices provider CoinShares in November last year to launch its first European exchange-traded product (ETP) backed by physical Bitcoin.

Fund investing is a great way to get exposure to companies involved in providing the picks and shovels needed to create the Metaverse, and that is where Invesco see’s the market opportunity which will appeal to investors. Just DYOR, check the terms and conditions and trade safely. 


Invesco launches $30M Metaverse fund