If you're new to crypto trading, chances are you've recognised the significance of a digital or blockchain wallet when it comes to storing, managing, and safeguarding your crypto assets. But what precisely is a wallet, and how does it ensure the security of your cryptocurrencies? 

Let's explore the core principles behind blockchain wallets, their functionality, and the various types of wallets accessible in the market. 

## Blockchain wallet explained 

A blockchain wallet serves as a digital vault for securely storing your cryptocurrencies and other digital assets. Since cryptocurrencies exist as unique forms of assets on the blockchain through cryptographic methods, they cannot be held in a conventional bank account. Hence the importance of blockchain storage becomes paramount, providing a platform for the safekeeping and trading of crypto. 

Unlike traditional wallets, crypto wallets do not store physical currency or rely on centralised institutions. Instead, they harness the power of distributed ledger technology (DLT), which establishes a decentralised system for recording all transactions across a network of computers in a secure and transparent manner. 

However, it's important to note that a wallet does not directly store cryptocurrencies. Rather, its purpose is to safeguard the private key associated with your crypto assets. This aspect often proves to be the most perplexing for beginners trying to grasp the concept of digital wallets. 

Now, let's delve into how these virtual wallets function and ensure the security of assets through private keys. 

## How does a blockchain wallet work? 

To understand how wallets function, it is essential to grasp the various components of storage involved. These components primarily include a public key and a private key. Think of the public key as analogous to your bank account number. Your blockchain wallet address is derived from this key, and you can freely share it with others to enable them to send cryptocurrency to your address. 

A public key or address's primary purpose is to indicate your assets' specific location on the blockchain ledger. 

Conversely, the private key is akin to the password for your account, comprising a 256-bit number consisting of 64 digits and alphabets. This key grants access to your assets on the blockchain. Given its significance, it is crucial to protect the private key diligently, as anyone who gains access to it could manipulate your crypto. 

Consequently, a [wallet](/news/article/best-crypto-wallet) secures your cryptocurrency by safeguarding the private key, which grants access to your assets. 

## The different types of blockchain wallets 

Blockchain wallets can mainly be categorised in two ways; the first is based on their warmness, and the second one is their custody. Now, let’s find out what the warmth and custody of crypto storage refer to.   

###  1. Warmness: Hot vs. cold wallets 

The warmness of a crypto wallet refers to the ratio between the convenience and security of a wallet. The main feature that decides convenience and level of security is the availability of the internet. Based on this, crypto storage is divided into hot and cold.  

When cryptocurrency storage is always connected to the internet, it will be referred to as a hot or software wallet. These wallets make trading cryptocurrencies easy, as you can access your assets from anywhere. Some examples of hot wallets include [MetaMask,](https://metamask.io/) [Trust](https://trustwallet.com/), and [Coinbase Wallet](https://play.google.com/store/apps/details?id=org.toshi&hl=en&gl=US&pli=1).  

In comparison, there are cold wallets, which are hardware storage devices for keeping digital wallets. These devices can work offline, which makes them less vulnerable to cyberattacks. Some of [the best cold crypto wallet options](/news/article/best-cold-crypto-wallet-uk) include [Ledger Nano X](https://shop.ledger.com/products/ledger-nano-x), [Trezor Model T](https://trezor.io/trezor-model-t), and [Safepal 1](https://www.safepal.com/en/).  

### 2. Custody: Custodial vs. non-custodial wallets 

The second categorisation of cryptocurrency storage is based on custody. The custody of cryptocurrencies refers to the actual ownership and control over the assets. Typically they fall into two types that are; custodial and non-custodial wallets.  

A custodial wallet is usually offered by the cryptocurrency exchange or brokerage itself. These wallets are simple to use and let you start with crypto trading easily. However, the control and custody of your assets remain with the provider. 

On the other hand, there are non-custodial wallets that enable greater control over your assets. You are responsible for protecting the private key and can trade your assets anytime. For an example of the differences between custodial and non-custodial wallets, [compare the Coinbase.com storage with the Coinbase Wallet](https://help.coinbase.com/en/wallet/getting-started/what-s-the-difference-between-coinbase-com-and-wallet). 

## Is a blockchain wallet safe? 

A blockchain wallet is widely regarded as a secure method for storing and managing digital assets. DLT introduces a range of security measures that inherently safeguard against tampering and fraud. However, it's crucial to acknowledge that different digital wallets provide differing levels of security and convenience. Consequently, selecting a wallet option that meets your specific requirements is vital. 

To ensure optimal security, it is recommended to consider the "hotness" or "coldness" of the storage. Incorporating both types of wallets into your strategy allows you to maintain security while keeping up with your daily trades. Additionally, implementing security measures such as setting up two-factor authentication (2FA), exercising caution with unknown sources, regularly backing up your wallet, and updating the wallet software can significantly enhance security. 

By adhering to these practices, you can further bolster the security of your digital assets and fortify your overall wallet protection.  

blue image of person opening a blockchain wallet

What’s a blockchain wallet, and how does it work? 

In the cryptocurrency world, initial coin offerings (ICOs) are a popular way for startups to raise capital for their blockchain-based projects. Investing in a crypto project through its ICO can also be rewarding for early investors. So what is an ICO, and how does it work? 

Let's explore this and how to identify a project worth investing in. 

## What is an ICO? 

![Blue image of ICO website screenshot](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_06_01_at_14_48_02_b9ccbafdc6.png)

An ICO is a frequently used method of raising funds deployed by crypto startups to finance their blockchain-based projects. It is, in many ways, quite similar to an IPO (initial public offering). 

ICOs involve startups creating and issuing new digital tokens or cryptocurrency to investors in exchange for funding. The company then uses the funds it raises to develop and launch the project's platform or product. 

Essentially, an ICO allows startups to bypass traditional fundraising methods and access a wider pool of potential investors while also allowing investors to invest in promising new cryptocurrency projects in their early stages. 

A good example of a successful ICO is [Ethereum's ICO, which raised more than $17 million](https://www.gemini.com/cryptopedia/initial-coin-offering-explained-ethereum-ico#section-ethereums-role-in-the-ico-boom). 

## How does an ICO work? 

Different stages lead to a successful ICO. Here is a summary of what a project team has to do to land a successful ICO. 

- Research and documentation: The process begins with the cryptocurrency startup creating a whitepaper that outlines their project and the goals they aim to achieve. The startup then sets a target amount of funding they hope to raise from the ICO. 

- Building the product: The startup can now start building the project. This will often involve creating the platform, features, and tokens to help users access the features. 

- Pitching, promotions, and campaigns: The company will begin approaching potential investors at this stage. Project teams can achieve this through cold pitches, social media campaigns, or word of mouth. The aim is to inform investors of the information contained in the documentation and ask for their financial contributions. 

- Initial coin offering launch: This is the D-day when investors buy the project's tokens using an existing crypto like [Bitcoin](/news/article/how-to-buy-bitcoin-with-poli) or [Ethereum](/news/article/ethereum-max). An ICO launch takes place in rounds.  

## What is an ICO round? 

Because an ICO is intended to generate funds over time, there's often more than one ICO launch for a given company. Instead, these launches come in a three-round sale model: 

- The seed round: This is often the first ICO for any project. The round offers investors a bonus for taking an early investment risk in the project. Alternatively, it may offer a token discount, ensuring investors buy the coins at their lowest-ever pre-launch value. 

- Pre-sale round: The pre-ICO sale round tokens still sell at a discount, but less than the project offered during the seed round.  

- Token sale: This is the final ICO stage. The token or crowd sale offers the least discounts and rarely has bonuses.  

## The difference between ICO and IPO 

An ICO is used to raise funds by creating and selling a new digital asset or cryptocurrency, while an IPO raises capital through the public sale of shares of a company's stock for the first time. 

Additionally, ICOs are often less regulated than IPOs, and investors in ICOs typically receive the newly created digital tokens or cryptocurrencies, while investors in IPOs receive company shares. 

## The pros and cons of an ICO 

Like most financial investments, ICOs have pros and cons. Here's a breakdown of an initial coin offering's main merits and demerits. 

### Pros 

- ICO enables startups to raise funds without giving up equity. 

- If the project succeeds, they allow investors early-bird access to platform features and impressive returns on investment. 

- ICOs establish a community of incentivized users, ensuring the project has demand even before its launch.  

### Cons 

- Some ICOs can be financial pitfalls or scams. 

- They are not very well regulated. 

## How to spot a legitimate ICO 

You can take several measures to avoid spending your money on ICO rug pulls and doomed projects. Let's explore a few tips on how to spot legit ICOs. 

- Read the project's white paper: This will help you understand what it's all about. Consequently, it helps in assessing the organization's growth potential. 

- Review the project's team: Do your due diligence on the company's team members and analyze the success of projects they were previously involved in. 

- Join the project's community: You can learn a lot from following a project on social media and joining its Discord server. The concerns raised on these platforms and the responses offered can help you gauge the company's legitimacy. 

## Frequently Asked Questions 

### Are ICOs safe? 

ICOs can be safe if legitimate companies conduct them. It is crucial to #DYOR (do your own research) to verify a project's legitimacy before you put your money into it. 

How to get information on an upcoming ICO? 

Information on ICOs is often present on the social media pages of the given projects. Additionally, you can follow valid crypto investors, subreddits, or Discord channels that discuss upcoming projects to know what's trending. 

What is an ICO and How Do They Work? 

According to [a report by CoinDesk](https://www.coindesk.com/tech/2023/02/14/avalanche-blockchain-saw-1500-transactional-growth-in-2022-nansen/), the crypto news service, Avalanche Blockchain enjoyed a massive 1,500% transactional growth in 2022 (despite the bear market) compared to 2021. 

For a product that first showed in the market in 2020, AVAX has demonstrated immense resilience, growing close to $5 billion in [market capitalization](https://www.coingecko.com/en/coins/avalanche) and a market cap rank of #17. 

Fortunately, the traction of avalanche crypto isn't stopping there. 

![avalanche crypto website screenshot](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_05_31_at_15_53_31_864a01cb09.png)

## Understanding Avalanche crypto 

The Avalanche crypto technology aims to restructure the blockchain industry by facilitating enhanced scalability and performance. Leveraging its cutting-edge [Avalanche consensus](https://docs.avax.network/learn/avalanche/avalanche-consensus#:~:text=Consensus%20is%20the%20task%20of,low%20latency%20and%20high%20throughput.) protocol, the technology goes against traditional consensus mechanisms to deliver efficient transactional speeds without compromising network security. 

In context, Avalanche can process 4,500 transactions per second, while Ethereum can only do 14 transactions per second. 

Unsurprisingly, the platform has been lauded as a viable alternative to Ethereum and Solana. 

The technology, founded by a research and engineering team led by Emin Gun Sirer, exhibits seamless compatibility with the [Ethereum Virtual Machine](https://www.quicknode.com/guides/ethereum-development/getting-started/what-is-the-ethereum-virtual-machine-evm/#:~:text=What%20is%20the%20EVM%3F,run%20a%20node%20on%20Ethereum.) (EVM). This interoperability is responsible for the ease with which Ethereum-based projects are ported to the Avalanche ecosystem. 

Also, third-party developers can develop custom virtual machines on the technology, resulting in a rapidly growing world of decentralized applications (DApps). So far, there are 354 DApps on the platform, and the list looks like it will keep growing. 

The powerful blockchain technology, interoperability, versatility, and native utility token, are responsible for the massive jumps and impressive numbers Avalanche is pulling despite the world’s current [crypto winter](https://www.nerdwallet.com/article/investing/crypto-winter). 

And with recent developments around the platform, the avalanche bull run isn't ending anytime soon. 

## Signs of a better future for the Avalanche crypto ecosystem 

By the close of November 2020, the price of [AVAX](/news/article/avax-vs-solana)  was around $3.60 per unit. However, AVAX currently trades at $14.36, which indicates an increase of ~211%. However, the $14.36 figure is a massive drop compared to the all-time high price of $134.87. But a price drop between 2022 and 2023 was expected in the wake of a bear market. 

### Before the 2022 bear market: 

The development and public presence of Avalanche crypto began with the launch of the Avalanche Mainnet on 21 September, 2020. Users got access and were soon greeted by further launches like the Avalanche-X Grants Program (October 2020) to foster innovation and attract developers. The impressive run continued with the Avalanche Rush Incentive Program of December 2020, which focused on incentivizing users. 

2021 was also an eventful year, during which the [Avalanche bridge to Ethereum ](https://www.datawallet.com/crypto/ethereum-avalanche-bridge)(February 2021) was made possible. The Avalanche Rush Hackathon (March 2021) promptly followed the interoperability achievement, bringing further development and engagement in the ecosystem. 

Soon, a host of interoperable integrations and partnerships began to spring up. Other milestones in the year included the Avalanche Improvement Proposals, designed by community members to improve experience and security on the platform. 

As proof of the next-gen technology underlying Avalanche, decentralized applications like Benqi (DeFi platform), Snowball (Yield optimizer), and Pangolin (DEX) have surfaced. 

The success recorded by AVAX in its first years resulted from the credible attention the team paid to different facets of its spectrum - developers, users, investors, and institutions. Fortunately, this also set the base that made the blockchain platform resilient to the 2022 crypto winter. 

## Between 2022 and the present: 

Between the last months of 2021 and the start of 2022, the entire digital world was abuzz with talks of DeFi, NFTs, Yield farming, and Proof of Stake, amongst other concepts. 

But following the dramatic end to the industry 'hype' between April and May 2022, several projects have been weeded out. 

Avalanche crypto isn't one of them. 

The platform has become a yardstick against which newer projects measure success. It has become a major competitor for Ethereum. 

AVAX partnered with [Alibaba](https://dailyhodl.com/2023/05/06/ethereum-competitor-avalanche-avax-partners-with-chinese-tech-giant-alibaba-cloud-on-new-cloudverse-project/) to expand the ecosystem to deliver a new ‘Cloudverse’ project. Avalanche has recently launched two new marketplaces, Superchief Gallery NFT and Zeroone. Furthermore, a strategic partnership with [Legitimate](https://www.legitimate.tech/) indicates Avalanche’s commitment to closing the digital and physical worlds gap. 

## Conclusion 

Avalanche is leaning in on collaborative endeavours to build a more robust and competent user ecosystem. Over the past year, the Avalanche crypto ecosystem has welcomed more users, and according to [predictions,](https://seekingalpha.com/article/4582718-avalanche-avax-follow-the-user-growth) AVAX trading price is on course to potentially reach $200. 

Avalanche Crypto logo on blue image of man trading with a smile

The Growing Traction of Avalanche Crypto 

[Argo block chain](https://argoblockchain.com/), a global data centre headquartered in London, UK, has created a powerful platform for efficient cryptocurrency mining operations. 

The company tags itself as providing a platform that powers some of the world’s blockchain technologies.  

Unlike other companies, Argo uses renewable energy sources to help blockchain technology's growth and development. 

Despite competition from other crypto mining companies such as [Marathon Digital Holding](/news/article/marathon-digital-sustainable-mining), Riot Blockchain, Hut 8 Mining Corporation, Bitmain, Canaan Inc., Bitfarms Limited, and Genesis Mining, among others, the company is responsible for about 1% of the global mining network hash rate of the largest digital asset by market capitalization [Bitcoin ](/news/article/bitcoin-rally-sees-gain-this-week)(BTC).

It also provides around 5% of the global hash power for the mining of privacy cryptocurrency ZCash (ZEC).   

## Argo block chain saw a 3% spike in revenue during April 

Revenue from mining BTC was [£3.35 million](https://consent.yahoo.com/v2/collectConsent?sessionId=3_cc-session_5c3fdee5-f6b9-4c46-a594-0ed55ee1215e) during the year's fourth month. This was a 3% rise in revenues from March, which was roughly £3.28 million. 

The increment came from BTC trading in the range of £21,743.58 and £24,904.02 during April while exchanging hands in the range of £15,765.91 and £23,421.52 throughout March.  

Overall, 144 BTC were mined, which was broken down to 4.8 BTC daily. While this was 8% below that of March (5.2 BTC daily), the aforementioned data explains why revenue went up despite a relatively lower number of mined BTC.  

The bearish mood engulfing the market has reduced the number of cryptocurrencies held by mining firms. Argo has not been exempted from the extension of crypto winter into 2023. As of the close of April 2023, 83 BTCs were held by the company. 

## What’s the latest on the mining company?  

According to the company’s operational update, there would be an increment in its hash rate. As of 30 April, the hash rate (this helps discover the mining difficulty and security) of a blockchain network) was 2.5 exahashes per second (EH/s).  

About 2,870 BlockMiner machines from Epic Blockchain Technologies are expected to be installed in the third quarter of the year. 

This will add 0.3 exahashes per second to the hash rate capacity of the company, increasing the overall hash rate capacity to 2.8 EH/s (2.5 + 0.3). 

argo blockchain logo on blue iamge of skyscrapers in the metaverse

What is Argo Block Chain and How Does It Work? 

## What is MATIC and How is it Empowering Scalable and Efficient Blockchain Solutions? 

In the ever-evolving landscape of blockchain technology, what is a persistent challenge? Scalability. While cryptocurrencies like Bitcoin and Ethereum have gained widespread adoption, their limited transaction processing capabilities have hindered their potential for mass scalability. However, the emergence of layer 2 scaling solutions has opened new avenues for blockchain scalability, and one such solution is MATIC. 

## What is MATIC? 

To best understand the potential benefits, we must start by asking, 'what is MATIC?'. 

[MATIC, or Polygon](/news/article/polygon-matic-news), is a cryptocurrency and technology platform launched to connect and grow Ethereum-compatible projects and blockchains. 

Polygon intends to improve Ethereum as a blockchain development network. The Polygon platform connects Ethereum-based projects and operates on the Ethereum blockchain. 

Using the Polygon platform can increase a blockchain project's flexibility, scalability, and sovereignty while still delivering the structural benefits, security, and [interoperability of the Ethereum blockchain](/news/article/polygon-matic-news). MATIC is an ERC-20 token interchangeable with other Ethereum-based digital currencies. 

## How Polygon works to achieve scalability and efficiency 

### Sidechains and Commit Chains: 

Sidechains operate independently from the Ethereum mainnet. These are connections from sidechains to Ethereum through a network of validators that secure the network and validate transactions. Validators stake their MATIC tokens as collateral to participate in the consensus mechanism. 

Transactions and smart contracts are executed on these sidechains, allowing parallel processing and reducing congestion on the Ethereum mainnet. Each sidechain maintains its own set of validators and can have different consensus mechanisms, such as Proof of Stake (PoS). 

The commitment of sidechain transactions to the Ethereum mainnet is achievable through periodic checkpoints, also known as commit chains. 

These checkpoints summarize the sidechain's transactions, ensuring their security and finality by anchoring them to the Ethereum mainnet. 

### PoS Mechanism: 

Polygon utilizes a PoS consensus mechanism known as the MATIC PoS Chain. By staking MATIC, validators have a financial incentive to act honestly and maintain the network's integrity. 

### Plasma Framework: 

Plasma enables sidechains to process many transactions off-chain and only submit the summarized results to the Ethereum mainnet. This reduces the computational burden on the mainnet, improves transaction throughput, and mitigates the impact of congestion. 

### Interoperability and Ethereum Compatibility: 

Polygon is fully compatible with Ethereum's virtual machine (EVM) and supports most Ethereum-based smart contracts. This compatibility allows developers to seamlessly migrate their Ethereum applications to the Polygon network. 

## Adoption and ecosystem growth 

MATIC has witnessed remarkable adoption across various sectors, reflecting its potential to empower scalable and efficient blockchain solutions. 
[DeFi platforms ](https://learn.bybit.com/altcoins/what-is-matic-coin-polygon/)have been quick to embrace MATIC's scalability and cost-effectiveness. Projects such as Aave, SushiSwap, and Curve Finance have integrated with MATIC to offer users faster transaction confirmations and lower fees. These integrations enhance the DeFi ecosystem, attracting users and fostering innovation in the space. 

To foster the growth of its ecosystem, MATIC provides comprehensive developer tooling and infrastructure. The MATIC Development Kit (MDK) offers a range of tools, including software development kits (SDKs), APIs, and documentation, simplifying the development and deployment of applications on the MATIC network. 

## What is MATIC good for? 

- Scalability: The primary advantage of MATIC is its ability to significantly enhance the Ethereum network's scalability. 

- Reduced Transaction Fees: By moving transactions to sidechains, MATIC minimizes the reliance on gas fees, becoming an attractive option for developers and users. 

- Interoperability: This interoperability allows developers to seamlessly port their existing Ethereum DApps to the MATIC network. 

- Ecosystem Growth: MATIC actively supports the growth of its ecosystem by providing comprehensive developer tooling and infrastructure. 

Security: MATIC ensures that sidechain transactions are ultimately validated and secured by the Ethereum network, leveraging the robustness of Ethereum's consensus mechanism. ## Conclusion 

What is MATIC (Polygon)? With its unique architecture, MATIC enables fast, low-cost transactions, making blockchain technology more accessible and scalable. Its compatibility with Ethereum's virtual machine and ecosystem support has contributed to its growing adoption in DeFi, NFTs, gaming, and enterprise solutions. 

By providing an efficient and developer-friendly platform, MATIC appears well placed to take a crucial role in shaping the future of blockchain technology, fueling innovation, and unlocking new possibilities across various industries. 


Polygon MATIC logo on blue iamge of abstract tech polygon pattern

What is MATIC All About? 

In February 2022, [Oasys](https://www.oasys.games/), an innovative blockchain created and developed for the games and gaming community, launched. 

The gaming community can use Oasys games architecture, which combines EVM-compatible Layer 1 (Hub-Layer) and Layer 2 (Verse-Layer) technological solutions to provide players with a high-speed, zero-gas cost experience. Developers, gamers, and fans will have the opportunity to partake in an exceptional user experience.  

For Oasys to come to life, the new gaming chain collaborates with major gaming and Web3 technology businesses, which serve as the 21 initial validators. [Gamers](/news/article/unity-engine-games-review) and [developers](https://www.oasys.games/) using Oasys architecture can use blockchain technology to provide multi-platform and cross-game portability of in-game purchases and skins. 

## Oasys games ecosystem 

"The launch of the ecosystem will revolutionise the way gamers connect, create, and play within the Metaverse," said Gabby Dizon, a founding team member and Co-Founder of Yield Guild Games, a play-to-earn gaming guild. "Thanks to the eco-friendly blockchain, the gaming community can conduct frictionless transactions throughout the ecosystem. We recognise the difficulties that blockchain games built on [Ethereum](/news/article/ethereum-pow-price-prediction) face." 

## Opinions on Oasys launch 

Shuji Utsumi commented, "Oasys games bring the story to life. 

"Gamers are familiar with other fictionalised virtual realities, and it is exactly that, with the added benefit of developer support and recognising the need for an eco-friendly platform that considers important societal and cultural considerations." 

"This is only the first step," BANDAI NAMCO Research's Hajime Nakatani explained. "The Oasys invites content creators to join our ecosystem and community. 

"As involvement in the ecosystem grows, so will fan adoption, bringing the 'Oasys' into the mainstream as a tool for real-world interactions."  

"The Metaverse has arrived! Blockchain technology will play a significant part in how people engage in the virtual world," stated Hironao Kunimitsu, founder of Gumi and CEO of Thirdverse. "But it does something revolutionary for the gaming community, transforming the fictional into a reality." 

"This is a fascinating project," said double jump.tokyo CEO Hironobu Ueno. "The architecture integrates the latest L1 and L2 technology solutions and is designed to be optimal for game developers and the gaming community, drawing on our four years of experience developing blockchain games." 

purple image of oasys games logo on abstract background image

How did Oasys games come about? 

With more blockchains appearing, there is a greater need to develop "bridges" and links between these blockchains for efficient and lossless transactions. However, blockchains have been subject to centralization, causing hefty protocols. This has put limits on the potential of these blockchains. Here, we discuss how Thorchain and the Rune coin aim to tackle this persistent issue in the crypto industry. 

## What is Thorchain? 
[Thorchain ](https://thorchain.org/)was founded by anonymous pioneers at the [Binance Dexathon](https://medium.com/binanceexchange/binance-dexathon-845dc0cbfffe) of 2018. Shortly after raising almost $1.5 million at its IDO, Thorchain launched its first product, "BEPSwap," a decentralized exchange that facilitated BEP-2 tokens to swap on BNB. 

In essence, Thorchain serves as a decentralized liquidity protocol designed to pump more liquidity into the pools of the blockchain market. It can do this by guaranteeing a "trustless" and "custody-less" manner of operation. What does that mean? How does Thorchain guarantee security when there is no centralized body overseeing the transaction? 

Thorchain almost made a massive leap when it introduced the multichain chaos net (MCCN), one of the first cross-chain swapping protocols that would allow [Bitcoin](https://bitcoin.org/en/), Ethereum, Litecoin, and other crypto assets to be traded. 

However, the system went through utter chaos as it was made a target of several hack attacks, resulting in a colossal loss of $13 million. 

## How does Thorchain work? 

[Thorchain](/news/article/thorchain-explained) connects the two parties willing to engage in a trade/operation independent of a third-party facilitator. This improves security by eliminating the "middleman", on whose ethical compliance the entire trade is dependent. Thorchain claims that eliminating this intermediary makes the entire process much faster and more secure. 

[$RUNE](/news/article/thorchain-explained), or Rune coin, is the native token used throughout the Thorchain network. Rune coin is used to pay gas fees as well as to deposit value into the liquidity pool, against which traders will execute trades. This drives the value and utility of the Rune coin up. 

Along with making things easier for the users, Thorchain helps liquidity by providing great interoperability between different compatible and incompatible blockchains. It can pull this cross-chain accommodation through its multi-bridge mechanism powered by its decentralized network. 

This, in turn, obviously gives the end-user more options to choose from, as more blockchains can be easily accessed under the Thorchain mainframe. 

This is not all that Thorchain does. A smart contract drafted between two parties within the system will need to have actionable terms. This is where the AMM (Automated Market Maker) model and the CSDK (Cosmos Software Development Kit) come in. The AMM model allows smart contracts to automatically adjust to the appropriate exchange rates based on demand and supply. 

This makes it easier for there to be a more widely accepted term of trade as the terms are not being dictated by a central body, but rationalized by a fair algorithm. This also allows the induction of assets and blockchains that were previously not interoperable. This ties in well with the ultimate purpose of Thorchain – providing a liquidity protocol to the market. 

## What is Thorchain made of? 

- [BEPSwap](https://coinmarketcap.com/exchanges/bepswap/) is Thorchain's mainframe. It is the liquidity protocol that serves Thorchain itself and allows Thorchain to do what it set out to do. This very BEPSwap is the AMM mechanism within Thorchain that allows users to trade crypto in a custody-less manner. BEPSwap uses the CPMM (Constant Product Market Maker) model to calculate exchange rates and arrange liquidity pools. For reference, CPMM is the same model used by Uniswap and other major swapping protocols. 

- THORNode can be described as the dashboard on which the chain runs. It is an open-source platform that anyone can contribute to. It allows users to participate in the ecosystem as validators or Liquidity providers. 

- Rune coin is the main utility token for Thorchain, as it helps solidify the economic foundation for the entire network to operate on. 

- Cross-Chain Bridges are the pride of Thorchain's interoperability philosophy. Having said that, most chains on the market are now focusing on bridges since it is pointless to run a blockchain protocol without taking into account the diversity and compatibility issues that you may have to deal with. 

- Validators are nodes within the ecosystem. These work like modern-day auditors that are incentivized to ensure they uphold the system's honesty and security. 

Within the Thorchain ecosystem, there are several roles that the Thorchain community members are encouraged to take up. 

These are: 

- Liquidity Providers (LPs): As the name suggests, these are the token holders or shareholders of the Rune coin liquidity pools. The majority of the liquidity circulating within the blockchain's system is made possible because of their investment and their gain. 

- Swappers: These are traders actively or passively trading crypto assets ON the Thorchain network (on-chain traders). This could either be in exchange for Rune coin or other cryptocurrency tokens. 

- Traders: These are traders that do more demanding work. These traders look for undervalued or overvalued assets within the chain. Consequently, they trade for their gain with other chains, and this proves the utility of Thorchain’s AMM model. It also helps Thorchain attract off-chain trade, vital for its sustainable growth. 

## Conclusion 

With time, more blockchains seem to be specializing toward a main use case. This suggests that blockchains across the market understand that it is much more rewarding to establish themselves in one line of work than on multiple lines of work. Additionally, the costs and resources required to specialize across multiple domains are high, especially considering blockchain science is still relatively new. 

Even though Thorchain tries to adopt a decentralized and trustless mode of operation, it is important to note that other main chains, like Polygon, have established a name for themselves on security grounds. It would be difficult to steer audiences away from that use case. 

Even though Rune coin's market cap is nothing to shy away from, at about 400m, it's still far away from chains that offer similar utilities, such as [Polygon](https://polygon.technology/). 

While Rune coin's Thorchain seems to have travelled quite a bit on the crypto path, it's still not within the sights of the final destination. 

green iamge of runes with Runecoin crypto logo overlayed

How Rune coin helps Thorchain operate 

Wondering what Ankr is? Ankr has risen among the ranks to become one of the most sought-after protocols due to its extensive features, which are highly valuable in developing the Web3 ecosystem. 

Forecast to be worth around $45 billion by 2030, at a CAGR (compound annual growth rate) of 41.50%, the crypto firm is expected to join blockchain-powered companies such as Polkadot, Helium Systems Inc., Ocean Protocol Foundation Limited, Decentraland, Binance, and Alchemy Insights Incorporated in ensuring that the prediction by [Vantage Market Research](https://www.vantagemarketresearch.com/industry-report/web-30-blockchain-market-1694#:~:text=The%20Global%20Web%203.0%20Blockchain,41.50%25%20over%20the%20forecast%20period.) comes to fruition at the said period.  

With a boom in the blockchain economy on the horizon, you will be coming across the protocol more and more. You may find yourself asking, 'What is Ankr?' 

As a result, this article takes an in-depth look into the project, the kind of partners that have chosen to ally with them, its native asset, its price performance so far in 2023, and the type of cryptocurrency exchanges that support the digital currency as a tradable asset. 

By the end, we hope you have an answer to the question, 'What is Ankr?'. 

## What is Ankr?  

It was created by the University of California, Berkeley, graduates Ryan Fang and Chandler Song in 2017. 

As a blockchain-based cross-chain infrastructure protocol that is smart contracts-compatible, it allows the development of decentralized applications (DApps) and staking services. It also houses several protocols connected to expanding the decentralized finance (DeFi) sector. 

Having recognized the centralization of power and the extensive reliance on intermediaries in many internet sectors, Ankr gives control and ownership of data to network participants and users. 

This is why it joined an industry with thousands of applications but decided to build a new internet that relies on the possibilities of distributed ledger technology (DLT).  

Many projects, such as Internet Computer, have disclosed that they want to decentralize everything on the internet, but have little to show for the past two years since launch. 

Ankr supports staking nodes, Web3, and, more importantly, achieves decentralization by employing DLT-powered computing power to gather data resources. 

These resources are then deployed to developers and stakers at low-cost data centres. Through this process, stakers can stake their balances while developers can create and deploy DApps. 

## What is ANKR, the cryptocurrency behind the project?  

Like all projects in the data technology section of the blockchain-powered economy, Ankr is supported by a cryptocurrency. It goes by the ticker symbol ANKR. 

It has a total and maximum of 10 billion tokens. Out of this, 97% (represented by 9.7 billion crypto assets) are in circulation, leaving just 3% to be injected into the market for scarcity to take hold of this crypto asset powering one of the most patronized networks in the space today. 

For crypto traders and investors interested in the numbers, ANKR is up more than 140% this year, rose by more than 120% in the first quarter of 2023, and reached a yearly [peak price](https://coinmarketcap.com/currencies/ankr/) of $0.05474 in February (which is still four times below its all-time high price of $0.2252 attained on 28 March 2021).  

The virtual coin has value despite not being a currency backed by a centralized financial institution. This is because it has all the attributes of what constitutes currency money, like utility, transferability, durability, scarcity, non-counterfeitability, and, most important of all, divisibility. 

Due to its potential in a market where more than 2,000 cryptocurrencies compete for traders and investors, more than 40 centralized and decentralized exchanges support the token for trading. 

Some platforms where[ ANKR](https://coinranking.com/coin/drWC87t2Vozh+ankr-ankr/exchanges) can be accessed include, but are not limited to, Binance, Huobi Global, Coinbase Pro, Kraken, BitMart, Crypto.com, and Uniswap (Vault 1, 2, and 3). 

## Mainstream crypto companies among its partners 

As of 16:00 UTC on 18 April, ANKR completes more than eight billion application programming interface (API) requests daily, from over 40,000 unique developers across 30-plus jurisdictions. Additionally, it supports over 38 networks in the blockchain economy. This is the primary reason why it is trusted by the following firms. 

Polygon uses Ankr’s infrastructure to boost its ecosystem. As an integral part of Web3 development, Polygon plays a vital role in crypto through its native asset [MATIC](/news/article/polygon-announce-hard-fork) and the digital collectibles sector, where CryptoSlam ranks it among the biggest blockchains by all-time NFT sales volume. Before [Disney shut down](https://www.wsj.com/articles/disney-eliminates-its-metaverse-division-as-part-of-companys-layoffs-plan-94b03650) its Metaverse division in March, Polygon responded negatively through its digital currency MATIC because it was chosen by the company along with five other firms to be a part of its[ accelerator program](https://www.coindesk.com/business/2022/07/13/polygon-joins-disneys-accelerator-program-to-develop-ar-nft-and-ai-experiences/), aimed at the development of artificial intelligence (AI), NFT, and augmented reality (AR) experiences. 

Gaining the support of Polygon certifies Ankr as one of the most credible protocols in a space where cybercriminals design projects to dupe people out of hard-earned money.  

[Binance](/news/article/binance-nft-marketplace-explained), the largest cryptocurrency exchange, has its hand in all segments of the crypto economy. Binance Chain is actively involved in DeFi and NFTs, and this alliance helps Chanpeng Zhao's innovation remain competitive in a saturated market. 

Certik is a smart contract, blockchain, and Web3 security firm. This company provides a tool that ranks projects based on risks related primarily to security. Due to rug pulls, pump-and-dump schemes, and other ways projects such as SafeMoon duped traders, many people analyze the health of projects by Certik aside from total value locked (TVL) and other crypto metrics. Ankr's Overall [Security Score](https://skynet.certik.com/projects/ankr) is 75.80, in the top 30%. This was arrived at after the security firm gave the project a code security score of 91.45, operational resilience score of 78.00, governance strength score of 92.37, and market stability and community trust scores of 96.54 and 98.00, respectively. 

The above statistics show a project that ticks all the right boxes for all stakeholders (developers, liquidity providers, and traders) searching for a go-to chain to meet their blockchain-related needs. 

[Avalanche](https://www.avax.network/) is also among the projects that trust Ankr. With [Avalanche,](/news/article/avalanche-crypto-metamask) governments, enterprises, and institutions can build many products under assets issuance and trading, document tracking, digital identity, debt financing, and [Central Bank Digital Currency (CBDC)](/news/article/nigeria-cbdc-adoption-soars). Aside from these, developers can build DApps, and NFT lovers can mint their own digital art using its blockchain. Tapping into Ryan Fang and Chandler Song’s innovation shows the extent to which Ava Labs believe in the Ankr project.  

Other projects that trust this blockchain-based cross-chain infrastructure protocol include Optimism, Aave, SpiritSwap, 1inch, Project Galaxy, Zapper, and SushiSwap.  

## Does ANKR have a future? 

Yes, ANKR has a future. The project has a fully diluted market capitalization of around $372 million and continues to see above-average daily trading volume for a low-cap digital asset (which has less than $2 billion in market value). 

Since the year's opening day, the token has seen a daily trading volume of around $9 million. With blockchain technology playing an instrumental role in the transition from Web2 to Web3 and Ankr's position as a cross-chain platform, an analyst has made positive forecasts about the future of the token. 

[David Cox](https://www.cryptonewsz.com/forecast/ankr-price-prediction/) at CryptoNewsZ believes the token will continue to benefit from the extensive usage of Ankr and soar to $0.095 by the end of 2023. He further estimates the token to reach the best possible prices of $0.26 in 2027 and $0.445 in 2030, respectively. 

Whether or not this article answered the question, 'What is Ankr?', you should remember that the crypto market is highly unpredictable. Always weigh risks against rewards. 

What is ANKR? The Web3-Powering Crypto

[Astar crypto](https://astar.network/), the most comprehensive smart contract platform in the Polkadot ecosystem, can handle WASM and EVM. It has a parachain slot that provides direct access to the Polkadot ecosystem. It also has connections with other significant ecosystems such as Ethereum, BSC, Cosmos, Polygon, and others. 

Astar has a program called #Build2Earn that gives DApp developers a basic income via inflation and directly funds projects through the Astar Incubation Program. This company has secured [$24.4 million in funding](https://www.crunchbase.com/organization/plasm-network) through two funding rounds, with contributions from 16 investors. Among the recent investors are Keisuke Honda and GSR. 

## Astar crypto tokenomics and ecosystem 

The tokenomics model of Astar crypto centres on aiding developers through DApp staking. ASTR token, the Astar crypto, has several functions, including serving as a means of payment for transaction fees, staking DApps, and receiving rewards for both DApp staking and collator rewards. 

There are four key roles you can play on this network: 

Developer: Build DApps or infrastructure on the blockchain. 

Collator: Where you run a node to support the blockchain. 

Staker: Stake $ASTR, the Astra crypto, to earn rewards. 

User: Join the Web3 movement and use Astar crypto tokens. 

## DApp staking on Astar Network 

The core team has developed a unique concept known as DApp Staking, which is exclusively available on Astar within the Polkadot ecosystem. It aims to become Polkadot's primary hub for decentralised applications (DApps). It has prepared incentives for DApp developers who build their smart contracts on the network. 

The DApp Staking mechanism is both simple and effective. 

Astar Network's innovative approach enables Astar crypto token holders to express their support for their preferred DApps by staking the [tokens](/news/article/tokenized-real-estate). 

This contributes to the ecosystem's growth and allows them to earn Astar crypto tokens through block rewards. Moreover, DApp developers can receive rewards based on the amount staked on their applications. 

Astar Network is committed to sustainability and decentralisation. It allows developers to earn tokens by creating smart contracts or infrastructure for the network community. This makes it a robust and [decentralised](/news/article/dns-servers) grant mechanism. 

## Why should you choose Astar to build? 

The reason for choosing Astar as a platform for developing DApps is its high flexibility and interoperability within the Polkadot ecosystem. 

It supports both WASM and EVM and hybrid Cross-VM dApps that can interoperate with one another. The platform provides direct access to the Polkadot ecosystem via its parachain slot. Its asset bridges and general message-passing protocols offer routes to other significant blockchains, including Ethereum, BSC, Cosmos, and Polygon. 

Furthermore, the innovative DApp staking program allows developers to earn a basic income as they work on building their products and communities. In collaboration with the community, the Foundation may also provide direct funding to projects through various ecosystem incubation initiatives like #MVP2Earn. 

## Substrate framework 

Astar is constructed using Substrate, a framework that enables developers to easily create customised blockchain solutions using Rust programming language. 

Substrate's modular structure makes it easy to choose and use only the necessary components for supporting networks and DApps, such as smart contracts, consensus, and storage, while reducing the focus on low-level implementation details. 

The advantages of using Substrate for building blockchain networks include several features such as forkless upgrades, cross-language compatibility through WebAssembly, deterministic finality that is light client-friendly, and smooth integration with other blockchains. 

For blockchain networks that aim to interface with the Polkadot network without intermediaries directly, the Substrate framework is essential, just like it is for Polkadot. 

## WASM 

Developers can build complex DApps using tools and languages they know through WASM smart contracts, bridging the gap between Web2 and Web3 development. 

It offers direct access to the runtime, enabling developers to build DApps previously not possible on the Ethereum Virtual Machine. Astar Network supports any programming language that compiles to WASM, making it a secure and versatile environment for deploying highly optimised smart contracts. 

## EVM  

Developers familiar with Solidity will find Astar EVM a comfortable environment for building smart contracts. Additionally, they can fragment their smart contracts and selectively move logic to the WASM Virtual Machine, which offers better performance, security, and cost-effectiveness for certain applications. 

## Build2Earn Initiative 

Astar Network's DApp Staking (#Build2Earn) feature enables users to support projects by staking on them, thereby contributing to developers' passive income. This innovative approach motivates projects to offer unique value propositions and cater directly to end-users. 

## XVM 

Astar Network offers the Cross Virtual Machine (XVM), which enables developers to call smart contracts from one virtual machine to another, such as WASM to EVM. The creation of hybrid cross-VM DApps is facilitated by the innovative XVM protocol, which is exclusively available on Astar Network. 

## Polkadot Relay Chain 

The security of Layer 1 blockchains is enhanced with the Polkadot Relay Chain, considered the industry's most secure. Moreover, it enables the development of genuine multi-chain smart contracts that communicate across chains. 

## Interoperability 

Astar Network utilises XCMP, a message transport system, to establish connectivity with the Relay Chain and multiple other para chains within the Polkadot ecosystem. It employs vertical channels (VMP + DMP) to connect with the Relay Chain, while para-chain communication occurs horizontally through HRMP channels. 

Astar is designed to be interoperable with various blockchain ecosystems such as Ethereum, Polkadot, and Cosmos. This interoperability enables the seamless transfer of assets and communication between multiple ecosystems. 

For instance, thanks to Astar's cross-chain capabilities, users can easily transfer assets from Ethereum to Astar and vice versa without needing an intermediary. Furthermore, developers can create DApps on Astar that interact with DApps on other blockchains, resulting in an ecosystem that transcends the limitations of individual chains. 

This interoperability feature allows for a more connected and robust blockchain network, paving the way for new and innovative use cases that would have been impossible in the past. 

Astar crypto logo in green on abstract background

Astar Crypto: The Future of Smart Contracts?

Toncoin is a layer-1 decentralised [blockchain](/news/article/blockchain-use-cases) initially created in 2018 by Telegram, the encrypted messaging platform. However, the project was abandoned and subsequently taken over by the TON Foundation, which rebranded it from "Telegram Open Network" to the new name of "The Open Network". 

Since 2020, the development of Toncoin (formerly known as Gram) and the TON network has been driven by a non-commercial group of supporters and an independent community of enthusiasts known as the TON Foundation. 

It was intended to be integrated into a user-friendly application that would allow for the easy buying, sending, and storing of funds, with users paying transaction fees and using Toncoin to settle or validate transactions. 

Toncoin uses the [Proof-of-Stake (PoS)](/news/article/ethereum-pos-release-date) consensus model to ensure scalability and reliability. The project website claims the platform offers customers fast, transparent, and secure payment services, enabling transactions with minimal fees and without needing third-party applications. 

## What are the uses of the Toncoin token? 

Toncoin is expected to play a significant role in the new economy and [Web3](/news/article/web3-games-raised-millions). The platform utilises smart contracts to facilitate transaction processing fees. The applications built on the platform offer payment services. Validators can lend capital and earn interest, while cross-chain transaction fees are also facilitated through this token. 

TON's on-chain governance program depends on the token and is also used as payment for blockchain-based domain names (DNS) and TON Proxy. Additionally, validators are required to maintain the blockchain by staking this cryptocurrency. Looking to the future, it is expected to be used as payment for decentralised data storage. 

## TON's flexible architecture allows for scalability without performance losses 

The Open Network is a blockchain-powered by the community, with a flexible architecture focused on serving the average consumer. Its most outstanding feature is its ability to quickly process and validate transactions per second (TPS). 

During a contest in September 2021, the network processed a record-breaking [55,000 TPS](https://coinmarketcap.com/alexandria/glossary/transactions-per-second), although the current TPS may be in the hundreds of thousands or even millions. This attribute facilitates the project's growth while preventing any performance losses. 

The developers' objective is to establish a comprehensive ecosystem encompassing decentralised storage, decentralised services, an equivalent of the domain name system (DNS), an anonymous network, an instant payment platform, and speedy/affordable transaction processing. 

With its scalable and shardable design, the Toncoin network can expand infinitely without compromising performance. This flexible architecture allows the network to accommodate many transactions, accounts, and validators. As of the latest data, the Toncoin network has processed a total of 118,225,433 transactions and has 2,334,994 active accounts. 

Furthermore, the network is secured by 297 validators who use the PoS consensus mechanism to validate transactions and earn Toncoin rewards. This impressive scalability, performance, and security make it a promising platform for decentralised applications and digital asset management. 

## TON's sharding feature 

This network is structured on the [sharding](https://www.rootstrap.com/blog/what-is-sharding-and-how-is-it-helping-blockchain-protocols) principle, or segmentation, featuring a multi-level structure involving multiple subnets on the same blockchain. The TON network is constituted of the master, work, and shard chains. This sharding feature prevents the net from accumulating unverified blocks and speeds up tasks. The developers of TON focus on scalability, efficiency, and mass adoption, providing ultra-fast transactions that verify and process a massive amount of TPS. 

It offers various services to its users, including TON Wallets, which provides two categories of wallets (custodial and non-custodial), and TON Services, allowing developers to create multiple DApps. In contrast, users can access third-party apps through a user-friendly interface. TON Storage provides private encryption using the private key of the owner's wallet, while TON Proxy allows access to the TON blockchain via decentralised VPNs. 

TON DNS (decentralised name system) allows traditional websites to work in the TON network, allowing users to set short, readable names. 

## Toncoin price and tokenomics 

As of writing, the [Toncoin price ](https://coinmarketcap.com/currencies/toncoin/)is $2.31, with a 24-hour trading volume of $25,099,270. The coin's volume is divided between centralised exchanges (CEX) and decentralised exchanges (DEX), with $25,193,486 and $124,808, respectively. 

The coin's market cap is $2,823,172,013, while its fully diluted market cap is $11,544,168,517. The circulating supply of TON is 1,221,401,181, while the maximum supply is 5,000,000,000, and the total supply is 5,047,558,528. 

## Security measures to protect the Toncoin network 

The Toncoin network employs the PoS consensus mechanism for transaction verification and rewards validators with Toncoin. Nominators can also offer tokens to validators and earn rewards. Additionally, the network utilises smart contracts to manage validators and nominators, providing an extra layer of protection. These smart contracts are executed through the TON Virtual Machine (TVM). 

toncoin coin on green image of trading stats

Toncoin: Revolutionising Blockchain Scalability

Technological developments, such as those involving the financial and payment systems that help streamline how we do things, have also led to a significant rise in scams related to sensitive data breaches like card payments. To protect users' sensitive data against cybersecurity threats and losses, governments and institutions can choose between encryption and tokenization to increase security, protect their data-at-rest and curb threats. 

Read on to understand the concept of tokenization, its benefits, and how it works. 

## Let’s define tokenization 

In simple terms, tokenization is a fraud-prevention mechanism that safeguards private, sensitive information in plaintext using a scrambled token. Once scrambled into a token, you can’t undo the process to return the information to its original state. Instead, the token replaces the original data during transactions.    

Banking and financial institutions, [real estate firms](/news/article/tokenized-real-estate), and regulatory agencies are among the sectors that heavily rely on the procedure. The mechanism can conceal important information, such as credit card details and social security numbers, to prevent hackers from accessing them. Nonetheless, you shouldn't get worried: even if a hacker managed to steal the tokens, which they often do, the information they steal is entirely worthless to them. 

The technology substitutes all your crucial details with non-specific randomly generated IDs known as tokens whenever you supply payment information at the point of sale (POS). The tokens are designed to have no direct or explicit relationship between your personal details and the resulting token. For example, if your debit card number is 1234-478-244-3241, it could be converted into a shorter tokenized value like B%@7f6%3fhTu. 

## The use of tokens from days past  

While tokens have been used over the years to replace valuables – such as casino chips to replace money - they entered the digital age in the 2000s. Beginning during the 1990s, when the use of computers gained popularity, collecting and storing critical information such as legal names, addresses, phone numbers, social security numbers, and bank account numbers by organizations became the new standard - companies collecting such data stored it to use for various purposes. 

Still, if hackers succeeded in moving past protective walls, they entered the databases and carted away the sensitive data to use for their criminal enterprises.   

As time has passed, the technology hasn't changed dramatically. It has become the go-to system for companies and regulatory agencies that still collect and similarly store critical data. 

[TrustCommerce](http://web.archive.org/web/20010405203446/http:/trustcommerce.com/billing.html) introduced a new paradigm in 2021: a method for banking institutions to collect sensitive data used for recurrent payments from their clients but release tokenized details linked to a client’s account to be used for subsequent transactions. Instead of exposing the vital data over and over again in the open, the token would ensure all secondary transactions were secure.   

## How tokenization technology works 

This technology transforms pieces of sensitive, valuable, and usable data such as credit card details and replaces them with surrogate data known as a token that's still usable but much harder to steal. 

The data is stored securely at a centralized location for future reference and requires strong safeguards. Tokenization is an integral part of blockchain technology as it involves issues like: 

- Fungible tokens: Having identical values that are interchangeable. 

- [Non-fungible tokens](/news/article/non-fungible-tokens): Without similar value representing ownership of digital data, real estate, or art.  

- Governance tokens: Tokens representing voting rights on blockchain systems 

- Utility tokens: Giving users access to various services and products on specific blockchains. 

Modern society recognizes two main categories of tokens. First are the front-end tokens people create when signing up for most online services. The problem with these tokens is that the user must understand how to make them and how they work if they're going to succeed. 

Next is the back-end model, where tokens are created automatically, and tokenization occurs before identifiers are shared with other systems. 

The following simple steps are required in token creation for both models: 

### Creation  

No computer program or algorithm scrambles the data. Instead, the system uses internal rules to replace some of your data set's numbers and letters. Alternatively, some tokens are selected randomly from a spreadsheet containing indiscriminate numbers and letters. 

### Replacement 

The token replaces the original sensitive data, meaning you'll never have to enter it again. The system only transmits the token through online channels. 

### Storage 

The system scrambles your sensitive data with some encryption and stores it in a vault. 

Let's imagine you're going to make an online purchase. When signing up for the service, you most likely were required to input data like your credit card number, name, expiration date, CVV code, or bank account number. 

The merchant's website takes this information and issues a token that sits within your gadget, perhaps your smartphone. The merchant's payment gateway is designed so that the POS matches the token against the debit card number, which is unintelligible to anyone else, including the merchant. Every time you use the payment processor's app to make an order, the token completes the transaction, leaving your account information intact within the vault. 

## Benefits of using tokenization 

The processes involved in tokenization may sound more complicated than storing data in the traditional ways, but it comes with some tangible benefits for businesses, including: 

### Security 

It doesn’t matter if any criminal intercepts a token in transit in an unsecured network. There’s no way anyone can reverse-engineer the tokenized information, and it’s therefore useless to them. Whether they intercept data in transit on the internet or when it comes to tokens that are impossible to decrypt, attacks stop before they start. 

### Speed 

Tokens facilitate automation, making completing transactions faster, which can be beneficial, especially in [blockchain](/news/article/blockchain-for-dummies) or crypto-based industries.  

### Regulatory compliance 

Nowadays, industries like healthcare, payments, banking, and insurance that handle sensitive customer data are required to prove they safeguard sensitive data. Using tokenization is a surefire way to ensure they avoid facing heavy penalization. 

## Tokenization vs. encryption 

Unlike encryption systems, where anyone with a secret key can decipher encrypted data, tokenization systems link original data to a token. Still, there’s no way anyone can decipher tokenized data to reveal the initial input. Encryption pushes raw data through an algorithm, and a key can be used to reverse the process. However, tokens don’t have keys, meaning you can’t decrypt the tokenized message. 

## Tokenization and peace of mind 

While tokenization is not yet a legal requirement in any jurisdiction, most banks and merchants consider tokenization a serious fraud-prevention technology. 

Coming at a time when cyber-attacks and data breaches are the cause of concern in an increasingly digitalized world, any company dealing with sensitive customer information had better consider using tokenization technology to enjoy unparalleled peace of mind. 

When used correctly, the technology will conceal all sensitive customer data within a business's systems, liberating you from forever updating in-house IT department firewalls and worrying 24/7 about potential customer data leaks. 

Tokenization and its Importance Explained

CoinPayments is a global crypto payment solution and wallet that enables individuals and merchants to send, store, and receive Bitcoin and hundreds of altcoins as payment. 

Launched in 2013, it is the first payment processor to support altcoins. Since its inception, it has become a respectable and widely-used company in the crypto market. It boasts millions of users across 182 countries worldwide. 

## Pros and Cons 

#### Pros 

- Supports more than 2,305 cryptocurrencies. 

- Has lots of useful features, including merchant tools and vault services. 

- Easy to use. 

- Low transaction fees. 

- Mobile and website support. 

- Great security. 

#### Cons 

- Breach in 2017. 

## Features 

CoinPayments’ features are a major reason for its success. The platform has a wide variety of features (more than 40) that include: 

- Multi-currency wallet: The wallet enables businesses and individuals to send, store, and receive more than [2,305 cryptocurrencies](https://www.coinpayments.net/supported-coins), including Litecoin, Dogecoin, Ether, and Dash. The wallet is free to set up and available on the web and mobile. 

- Merchant tools: They are for merchants and offer various ways to accept crypto payments from customers. They include shopping cart plugins, payment buttons, APIs, invoice builders, mobile apps, and point-of-sales tools, which offer a simple way to accept in-person payments. 

- Cryptocurrency vault: The feature allows users to store their cryptocurrencies in a secure online database for as long as they want. Within the storage time, the cryptocurrencies won’t be accessible by any means. 

- E-commerce integration: CoinPayments is compatible with many leading e-commerce platforms like Shopify, Magneto, and WooCommerce. Merchants can also establish their own custom integrations using application programming interface (API) functionality for a tailor-made digital storefront. 

Other features include digital asset management, billing and invoicing, data security, transaction monitoring and history, payment processing, status tracking, a self-service portal, payment fraud prevention, and much more. 

## Security 

CoinPayments uses the latest technological security mechanisms to secure clients' funds. Users can set up two-factor authentication when registering their accounts to enhance security. Additionally, they can connect hardware wallets to their account as an additional layer of protection. 

It is worth noting that in June 2017, it was reported that hackers broke into CoinPayments Ripple-storing security databases and stole huge amounts of XRP coins. Six months after the breach CoinPayments managed to reimburse all affected users. 

According to CoinPayments, [the incident](https://blog.coinpayments.net/announcements/official-coinpayments-ripple-theft-statement) was not a hack but a network error that allowed a few users to withdraw excessive XRP coins from hot wallet XRP accounts. The company later assured users it had completed a complex back-end rebuild, including multiple new safety measures and protocols to ensure the issue never occurred again. 

## Fees 

CoinPayments is a fairly cheap platform to use. It has a flat fee of 0.5% for all incoming payments. The platform does not charge any fees for account creation. It also does not charge any withdrawal fees to use its wallet. 

There are network fees that vary depending on the cryptocurrency you are sending and how busy the networks are. They also apply when withdrawing cryptocurrencies. 

## Is the platform safe? 

Yes, CoinPayments is a safe crypto-payment platform. The platform has never had any security breaches or incidents since the 2017 XRP incident. Its team continues to amplify its security with the best and latest security mechanisms in the market. You can be sure your funds are safe while using the platform. 

## Accessibility 

CoinPayments is accessible in lots of countries across the globe. However, it is [inaccessible](https://www.coinpayments.net/help-restricted) in several countries, including Afghanistan, Algeria, American Samoa, Bangladesh, Belarus, Cambodia, Congo, Cuba, Eritrea, Iraq, Liberia, Libya, Qatar, and the US. 

In July 2022, CoinPayments [announced ](https://www.bleepingcomputer.com/news/technology/coinpayments-to-shut-down-in-us-5-days-left-to-withdraw-funds/)that it would cease operations in the US and advised its customers from the country to withdraw their assets before 19 July. The company blamed Anti-Money Laundering (AML) regulations and market changes for the closure of business operations in the US. 

The platform's restriction in more than 30 countries is one of its few cons. If you are in any of the restricted countries, you can't use any of the platform's services. 

Besides English, the platform is also available in French, Indian, Spanish, German, Portuguese, Japanese, Chinese, Russian, and Korean, among other languages. 

## Getting started with CoinPayments 

To benefit from CoinPayments services as a merchant, you'll first have to open a user account. The process is very simple. Go to the platform's official site and click the highlighted “Sign Up” button in the top right corner. 

On the next page, you will have two options, create a Personal Account or Business Account. You can choose either and fill in the required mandatory information. 

After you register your account, you will have to verify your email account by clicking on the activation link sent to the email you used to register for an account with. 

After you've verified your email, the next step is to sign in to your account and configure your Merchant ID, IPN, and other important credentials. How you do it is: 

- Go to the "Account" tab and click "Account Settings". 

- In the "Basic Settings" tab, you will find the Merchant ID you need to save or copy for later use. 

- In the "Public Info" tab, enter your full name, email ID, and the URL you want to be displayed publicly to customers for sending payments. 

- In the "Login & Security" tab, change the two-factor authentication (2FA) method from email to any convenient option. 

- In the "Merchant settings" tab, write your IPN secret code. Save and copy the IPN code for later use. Select the base currency and remember to toggle which notifications you want to receive. 

The next step is to choose which [cryptocurrencies](/news/article/what-is-future-of-cryptocurrency) you want to accept as payment. Go to the "Account" tab and click "Coin Acceptance Settings". Select the cryptocurrency you want to accept by checking the box next to each cryptocurrency and clicking "Update Coin Preferences". 

There are more steps to configure to start accepting cryptocurrency as payment to your wallet, like fiat settlement, crypto coins conversion, and payment forwarding, among others. Make sure to complete all the steps to avoid any hiccups. 

## How to use the CoinPayments wallet 

CoinPayments wallet is a mobile app that can be downloaded from the Google Play and Apple app stores for free. Once you've downloaded the wallet, sign up. The sign-up process will require your name, username, password, and your location. 

You will then receive a confirmation email to confirm your email address. Next, set up two-factor authentication. 

Log in and select whether to create a business or personal crypto wallet. After you've clicked "Wallet", you can choose between creating a standard wallet or a personalized PayByName wallet. Once you are done, you can start receiving cryptocurrencies in your wallet. 

To send crypto, you must have some crypto in your wallet. You can buy crypto from CoinPayments using a debit or credit card, PayPal, SEPA, or bank transfers. 

Once you have some cryptocurrencies in your wallet, you can send them to other wallets by pasting their public address, selecting the number of coins you want to send, and clicking the "Confirm" button. 

To withdraw cryptocurrencies from your wallet, choose from other supported payment methods and select the amount you want to withdraw. CoinPayments does not charge any fees for withdrawals. 

Remember that you must complete the KYC (Know Your Customer) process during your sign-up process to use all CoinPayments features. 

## Customer support 

CoinPayments has an exceptional customer support team that is prompt at delivering ready solutions to all customer queries. Users with queries must communicate by raising a ticket. 

To raise a ticket, a user visits the support wizard, where they are provided with a support code (valid for one hour) and a link to submit a support ticket on FreshDesk. Besides support tickets, users can also reach the support team via social media platforms like Twitter, Telegram, and Facebook. 

## Conclusion 

CoinPayments is an amazing crypto-payment platform with lots of attractive features. It is highly secure, easy to use, supports many cryptocurrencies, is accessible via the web and as a mobile app, features pretty low fees, and has a great customer support team. 

There is hardly anything not to like about the platform. It is no wonder many reviewers consider it one of the best crypto-payment platforms. 

coinpayments logo in front of blue image of cryptocurrency wallet

CoinPayments Review 2023

As the global economy becomes increasingly digital, the need for seamless and secure gateways for cross-border payments is rising. Cryptocurrencies have proved a viable alternative to traditional methods, yet the need for a platform connecting crypto with fiat remains. Alchemy Pay is a solution that has been gaining traction in the crypto space. 

It is a convenient payment solution that offers a secure path for crypto/fiat transfers. The platform connects the traditional financial system with the crypto world. In fact, Alchemy Pay news has been making headlines due to its partnerships with various crypto and financial firms, cementing its position as a leader in the space by offering a seamless payment solution. 

## What is Alchemy Pay? 

[Alchemy Pay](https://alchemypay.org/), a payment service provider that simplifies crypto to fiat and vice-versa transfers, focuses on providing a fast, secure, and convenient gateway for global consumers and sellers. The platform is designed to promote the use of Web3 and blockchain products and services. 

It is a Singapore-based firm founded in 2018. It offers services in more than 170 countries and supports 300+ payment channels. It also provides access to all types of cryptocurrencies and supports over 50 fiat currencies. 

The platform aims to shape a digital financial system that eliminates barriers for all global users. It is built to empower the masses financially and offer a dependable payment system. It also ensures transparency and is viable for both individuals and enterprises.  

## What does Alchemy Pay offer? 

The hybrid payment system offers services to various types of users. It can facilitate individual users, small businesses, large enterprises, or institutions. Here are some benefits the platform can offer: 

#### Facilities B2B and B2C payments 

The payment solution can facilitate business-to-business (B2B) or business-to-consumer (B2C) transactions. The good thing about the platform is that it supports crypto-fiat payments. As a result, many e-commerce platforms, SaaS businesses, and various other businesses may opt for this payment solution. 

#### Allows crypto investment 

Since Alchemy Pay supports a range of cryptocurrencies, it allows its customers to invest in crypto. Individuals and institutions like banks or asset management firms can use its services for [crypto investments](/news/article/crypto-invest-strategy). It can play the role of a broker to facilitate the fiat to crypto or vice versa exchanges.  

#### Simplifies day-to-day purchasing 

You can also acquire the services of the ACH platform for personal finance. You can use it to buy different goods and services. You can also manage your crypto assets through the platform. It allows you to hold, stake, or [trade crypto](/news/article/how-does-crypto-trading-work) at your convenience. 

## What’s an ACH token? 

Alchemy Pay is a hybrid payment system that introduces its own token, ACH. The token is an ERC-20 and BEP-20 that engines the entire ecosystem of the platform. The ACH tokens are pre-mined with a total supply of 10,000,000,000. Out of the total supply, around 5,082,155,932 ACHs are circulating in the market. 

The [smart contract](/news/article/smart-contracts-blockchain) for ACH coins is deployed to create an infrastructure that supports easy transactions between crypto and fiat. It can support a wide range of audiences, including individuals, institutions, and businesses. 

According to [CoinMarketCap](https://coinmarketcap.com/currencies/alchemy-pay/), an ACH token is currently worth $0.0372, with a total [market capitalisation](/news/article/what-is-market-cap-cryptocurrency) of $176,327,968. In the past 24 hours, the trading volume for the asset has been $78,230,553.  

The token made its all-time high value of $0.197 in August 2021. ACH’s price is currently down by more than 80% from its all-time high value.  

## Alchemy Pay partnerships with major crypto firms 

In the last couple of years, Alchemy Pay has secured partnerships with various crypto exchanges, payment channels, on and off-ramps, and e-commerce firms for offering crypto payments. 

Here are some of the prominent partnerships that the ACH secured: 

#### Facilitates payment between Shopify and Binance 

One of the largest e-commerce platforms, Shopify, has integrated the Alchemy Pay plugin. It allows Shopify stores to offer a crypto payment channel to their customers. Besides, Binance Pay also supports the ACH payment solution. It will enable Binance Pay users to make peer-to-peer (P2P) cryptocurrency transactions seamlessly. 

Due to the support for Alchemy Pay, Binance Pay users can also make payments on Shopify via cryptocurrencies.  

#### Mastercard and Visa crypto cards 

Alchemy also offers virtual [crypto credit cards](/news/article/cryptocard-choices-which-one-for-you) with Mastercard and Visa support. These cards enable users to make payments in crypto tokens. They are compatible with more than 50 cryptocurrencies, including popular options like [BTC](/coins/btc) and [ETH](/coins/eth).  

####  Fiat on-ramps for Polygon 

The Hybrid payment solution is also available on one of the most popular layer 2 solutions, [Polygon](/news/article/polygon-crypto). ACH platform offers fiat on-ramps to the Polygon network. It enables users to pay directly for DeFi products or services in fiat currencies. The platform has embedded fiat on-ramps across its ecosystem. 

####  Listed on popular exchanges 

Apart from the platform’s different payment options, the ACH token is available on various popular exchanges, including Binance, Coinbase, Kraken, [Crypto.com](/news/article/nft-crypto-com), Gate.io, Kucoin, Huobi Global, [Uniswap](/news/article/uniswap-price-prediction-2025), [Bybit](/news/article/bybit-uk), and several others. 

#### Various cross-chain integrations 

The payment solution is integrated with multiple blockchain networks. Alchemy Pay news today suggests it is currently available on the Algorand blockchain, NIUM, [Avalanche](/news/article/avalanche-bridging), IoTeX, MakerDAO, and numerous other blockchains.     

## Alchemy Pay price prediction 

According to insights from [CoinCodex](https://coincodex.com/crypto/alchemy-pay/price-prediction/), the ACH token shows bullish sentiments. The current market has ‘buy’ to ‘strong buy’ signals. Moreover, the data suggest that the ACH price may increase by over 102% later in March. 

 ![alchemy pay price prediction chart](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Screenshot_2023_03_31_at_15_15_19_b1adb0498d.png)


Source: [CoinCodex ](https://coincodex.com/crypto/alchemy-pay/price-prediction/)

Meanwhile, ACH's current price is higher than its 50-day and 200-day simple moving averages (SMA). The current 200-day SMA is around $0.014, but it is expected to increase. Data suggest that the 200-day SMA will likely cross the $0.02 in April 2023. The 50-day SMA is expected to reach the $0.055 mark. 

## What will Alchemy Pay be worth in 2030? 

According to various forecasts, the ACH coin will grow tremendously over the next few years. [PricePrediction.net](https://priceprediction.net/en/price-prediction/alchemy-pay) indicates that the coin’s value may average $0.079 in 2025. Five years later, in 2030, Alchemy’s worth may reach $0.5.   

## Will Alchemy Pay reach $1? 

It is highly unlikely that the ACH token will reach the $1 mark anytime soon. Although the coin suggests bullish signals, it would need consistent long-term growth for that. The forecast from [PricePrediction.net](https://priceprediction.net/en/price-prediction/alchemy-pay) indicates that ACH may hit $1 in 2032. 

## Is Alchemy Pay a good investment? 

Alchemy Pay is a growing hybrid payment solution for fiat/crypto transactions. The platform promotes blockchain-based transaction systems, which allow easy integrations with multiple blockchains and payment methods. It is also trusted by numerous big players like Binance and Shopify. As a result, its crypto, ACH, shows good potential as an investment. 

Currently, the market is bullish for Alchemy’s token, as forecasts suggest gains of around 102% in March. The market sentiment for the token is also positive, which means now can be an ideal time to invest in the ACH coin. Nonetheless, it is advisable to note that all cryptocurrencies are extremely volatile assets; therefore, conducting your research before making any financial decision is crucial. 


alchemy pay logo on image of credit cards

Alchemy Pay: A Crypto-Fiat Payment Platform

The concept behind play-to-earn games has been around for a while, but the rapid rise of NFTs and Web3 technologies has brought them to the limelight. As the increasing number of blockchain games begins to bring a tangible meaning to the term "play-to-earn", this article focuses on the popular [Spider Tanks ](https://www.spidertanks.game/)NFT game, how to play it, and the potential to earn a good income while you play. 

## What are play-to-earn games? 

Play-to-earn (P2E) is the name given to a class of blockchain-based games where you can earn income directly or indirectly as you play. Players generate digital income, which they can later materialize, meaning they can transfer their earnings into the real world using blockchain technology. 

Most P2E games use non-fungible tokens (NFTs in terms of characters, potions, outfits, armor, or weapons), which are solely unique assets the players own. P2E games thrive on NFTs and in-game cryptocurrencies, and the rarity of NFTs offers real monetary value in the games' economic ecosystem. 

## Spider Tanks overview 

Spider Tanks is a [free-to-play](/news/article/free-play-to-earn-games) PVP (player versus player) game where players can choose from numerous weapons and tank bodies to engage in arena-based combat. Developed by award-winning Dutch company Gamedia, the game offers several P2E mechanisms revolving around skill-based competition, gathering resources, and player-driven upgrade cycles. 

The multiplayer PVP NFT game built on the Ethereum blockchain ecosystem can be played on PCs and macOS. The game’s developers aim to make it a global P2E eSports game where players can compete against a familiar group of close friends or strangers. 

The game solely focuses on tank battles and features unique aesthetics, uptight gameplay, and a fascinating upgrade system that makes it potentially profitable. The game's cycle leverages on rarity and benefits accrued from NFT Weapons, Tanks, and Bodies. Some core aspects of the tanks include the following: 

- All tanks have a weapon and a body as the main components. 

- Players can use every weapon to create different options for their tanks. 

- All components are NFTs built on the Ethereum blockchain and carry different values.    

- Players can earn new NFT pieces as they play and earn higher P2E titles. 

## Game Options 

Spider Tanks presents three diverse game modes with different objectives over variable maps. Winning your games increases your potential to earn greater rewards afterward. Players make in-game currency they can use in their Garage (a place they can visit between battles to equip their parts and add weapons to their tanks). Players can rent out or sell their upgraded tanks for in-game currency. These modes are: 

#### Team Deathmatch   

Team Deathmatch is the classic PVP game featuring two teams of three players battling to the death, with the team executing the most kills at the close winning. 

#### Capture the Flag 

This mode features an old-style game but introduces a significant control aspect where opposing teams battle it for a flag. Teams garner points every time they hold the flag; the team with the most points at the end is the winner. 

#### Capture the Chicken 

The Capture the Chicken mode is designed to have a player rescue as many chickens as possible spread around the map and return them to their base. Under normal circumstances, Tanks and Chickens have nothing in common, but this game mode creates a unique possibility.   

## How to earn SILK tokens 

Spider Tanks players can earn [SILK tokens](https://www.coingecko.com/en/coins/spider-tanks) every time they win a game. As usual, better performance translates to greater rewards. You can also earn the in-game SILK tokens renting out your tanks for 24 hours in exchange for 50% of their earnings when someone wins with the tank. Take note, though, that the rank of your tank NFT defines your efficiency in earning SILK. 

## Should you play Spider Tanks? 

Spiders Tanks is an exciting P2E game that’s high-speed, intense, competitive, and packed with uniquely stylized graphics that bring real character to NFT gaming. That some players can easily [earn a significant income](/news/article/play-to-earn) by playing is a good enough incentive for anyone to try it out. 

spider tanks logo on a purple background photo of woman playing p2e video games

Spider Tanks review: Learn, play, and earn 

CowSwap is an Ethereum blockchain-based, decentralised financial application. It attempts to settle buy and sell orders between its customers, i.e., to discover a coincidence of wants, thereby avoiding slippage and costs. 

Orders not finding a peer-to-peer match are sent to the underlying automated market maker at CowSwap. 

## Differences between CowSwap and UniSwap 

[CowSwap](https://www.alchemy.com/dapps/cowswap)'s interface may appear similar to the ordinary [DeFi](/news/article/what-is-a-defi-token) user, as it is built on the Open Source code used to develop the Uniswap front end. Nonetheless, there are differences between the products: 

It can settle orders on [Uniswap](/news/article/uniswap-exchange-nft-aggregator), Sushiswap, 1inch, and Paraswap, offering users the best price. 

When there is a Coincidence of Wants (CoWs), users [can trade](https://docs.cow.fi/overview/introduction) directly with other users without going through any pools, eliminating the need to pay Liquidity Provider costs. 

In the event of a price movement against your order, the order will expire when users waste gas on unsuccessful transactions, whereas on Uniswap, users will pay. 

It has no liquidity suppliers. Instead, it connects to all on-chain liquidity supplied by various protocols. 

## Cancelling orders  

CowSwap allows users to cancel their orders for free. As a user, they sign the order cancellation in the same way that they place the order, and if the solution has yet to be mined, the order will not be performed and thereby cancelled. 

## Supported wallets 

EOA wallets: Most EOA wallets are supported through WalletConnect, Metamask, or any injected wallet (mobile wallet app browser). 

Smart Contract wallets: At the moment, smart contract wallets such as Gnosis Safe, Argent, or Pillar, since placing the order would need signing an on-chain transaction, rendering it no longer gasless. 

CowSwap is a critical infrastructure for open finance, which will see the creation of more and more tokenised assets and lead to a reliable trading mechanism with the user's best interest in mind. 

cowswap logo onblue image of cows in a field

What is Cowswap and How Does It Work?

You may have heard of the blockchain-based Fireblocks platform. 

Fireblocks platform is a product created for the crypto market to move and manage institutional assets. So what is this platform all about?
Most of what you may have experienced as a crypto market trader or investor is buying and selling crypto assets on a small scale. A small-scale crypto investor may be trading with funds that range from a few hundred to tens of thousands of dollars.

When crypto investments break the seven-figure barrier, this marks a transition from a small-scale operation to an institutional-scale one. At the institutional level of investment, you cannot keep operating with the same tools as the small-scale, retail-level traders. It would help if you had a resource that guarantees better security, better pricing for your trades, and more robust tools to manage such enterprise-level investments. This is where the Fireblocks platform comes in.

Fireblocks is a platform that provides you with enterprise-grade resources to move and manage your digital assets securely.

The large sizes of institutional crypto portfolios require the brokers/exchanges handling their business to offer something beyond the regular. Several factors constitute risks in the crypto market.
The first is the system of storing digital assets. Crypto assets are held on exchanges or in self-custody wallets with private keys. The two systems are fraught with risks.

Exchange-held assets are highly vulnerable because they are stored in online/hot wallets. Hackers are no longer the only threat to exchange-held tokens. Recent events such as [the collapse of FTX](https://brendanbeeken.com/ftx-collapse/) and [Celsius](/news/article/celsius-bankruptcy-judge-order) have shown that exchanges run by inexperienced hands with limited compliance and internal controls are as much a risk as a hacking team.

Self-custody wallets require that the owner of the assets secures the wallet with a private key. If the key is misplaced or compromised, the assets are lost forever.

Another requirement for institutional crypto investors is a robust trading environment that presents the user with professional tools that are not accessible to anyone else. For instance, institutions are very keen on risk management and prefer using platforms that provide market-neutral trade types.

As will be discussed later, the MPC proprietary protocol used in designing the institutional-grade wallets on Fireblocks also enables trades to be made up to eight times faster than the industry average. If you trade huge volumes, you must split up your trade sizes to get good executions without altering the market price too much. Having ultra-fast transaction speeds compensates for the inability to push out all orders simultaneously, and the MPC protocol guarantees this.

## Digital asset operations you can perform on Fireblocks

a)   Deposits and withdrawals using MPC wallets
Multi-Party Computation (MPC) wallets are considered more secure than traditional crypto wallets as they utilize a system of wallet key management that allows multiple parties to simultaneously perform various cryptographic-based functions without revealing their inputs.

This means there is no single point of failure (such as losing your private keys) as with traditional wallets. Fireblocks is one of the pioneers of this technology. As an institutional player, you cannot pin the security of your massive crypto holdings to the existence of a private key. Considering that billions of dollars in crypto assets have been lost forever due to the misplacement of private keys, you would know that this is a big deal.

b)  Trading with liquidity providers and trading venues
Trading on an institutional basis requires a direct connection to liquidity providers. This level of trading is equivalent to wholesale trading because the liquidity required at this level is enormous. This large liquidity base enables institutional traders to get the best possible pricing and the cheapest spreads. The Fireblocks platform provides direct market access to liquidity providers, trading desks, and counterparties. This connection also provides access to a round-the-clock settlement of trades for more than 400 tokens across over 30 major exchanges.

c)  Perform various account analytics functions
Fireblocks also allows you to view various asset storage analytics. For instance, you can view your digital assets in offline vaults, exchanges, or in fiat accounts. You can also view your account inflows and outflows and check your open/closed trades and positions.

d)  Speedy transfer of digital assets to and from centralized exchanges
Another vital function required to effectively manage institutional crypto assets is the ability to move funds in and out of an exchange to a non-custodial wallet. Typically, institutional digital assets account for most fund outflows from centralized exchanges during market turbulence.

Whenever there is a market upheaval, the crypto market witnesses a large volume of outflows from centralized exchanges to private wallets. The UST collapse, FTX collapse, and the [bankruptcy of Celsius led to net outflows from centralized exchanges](https://blog.chainalysis.com/reports/personal-wallets-institutional-crypto-adoption-self-custody-defi/). Institutional funds accounted for 68% -77% of these outflows.

The reason is not far-fetched. Capital preservation and risk management are at the heart of institutional-level investment operations. To protect capital during a market downturn, there has to be a secure pathway to move these large volumes of digital assets.

The Fireblocks platform offers this secure environment. Its connectivity with several exchanges ensures that such movement of funds can be done simultaneously, securely, and speedily.

## Fireblocks Conclusion

Enterprise-level crypto portfolio management requires a more robust approach than what is obtainable in the retail segment of the market. Upgraded encryption, advanced cryptography that eliminates a single point of failure, and a secure system for conducting the industrial-scale movement of digital assets between exchanges and non-custodial wallets are a must. Fireblocks has provided a one-stop shop for institutional-level clients' needs.

The Fireblocks platform serves hedge funds, neobanks, PSPs, exchanges, prop traders, and lending desks. The platform supports all ERC-20 tokens and assets on the Binance Chain and the Avalanche network. You have to initiate the connection process by requesting access via the online form on the website.


fireblocks logo on image of blockchain with blue filter

Blockchain-Based Fireblocks Platform Explained

Recently, there has been an explosion of new cryptocurrencies and blockchains. It has caused the need for interoperability, as you have to send your tokens between different networks. One innovative decentralised platform which is solving this issue is [THORChain](https://thorchain.org/). 

The network offers a cross-chain infrastructure that allows you to swap tokens across multiple blockchains. It is designed to smooth out the peer-to-peer exchange of digital assets. Along with its interoperability, it maintains immutability and does not need wrapped tokens for swaps. 

Curious to know how the THORChain works? This article covers the blockchain’s unique features, the working mechanism, and crypto RUNE.  

## What is THORChain?

THORChain is one of the leading cross-chain architectures which offer a secure path for token exchange. It is an entirely decentralised platform that is compatible with eight popular chains. It can support swaps between [Bitcoin](/coins/btc), [Ethereum](/coins/eth), Avalanche, Binance Smart Chain, [Dogecoin](/coins/doge), Bitcoin Cash, [Litecoin](/coins/ltc), and Cosmos Hub. 

Leveraging its interoperability, you can swap the native tokens of its supported blockchains. It creates a frictionless experience and is used for various [DeFi](/news/article/what-is-a-defi-token) needs. 

In the beginning, THORChain was deployed on the [Cosmos network](/news/article/cosmos-crypto-explained). However, in April 2021, the network introduced an update that transformed it into an independent blockchain. Its mainnet provides an environment where non-compatible currencies can be exchanged without intermediaries. 

The blockchain also provides you with more liquidity. Because of this, its network poses a more secure option than the various centralised and decentralised exchanges.

In addition, you can also earn yields on the network. It has liquidity pools where you can deposit your assets and gain profits. The THORChain DEX brings you [crypto lending](/news/article/crypto-lending) services too. It also allows you to secure digital asset funding almost instantly. 

## How does the THORChain work?

THORChain is a cross-chain DEX protocol that works like an Automated Market Maker (AMM). Its mechanism involves Tendermint software, Threshold Signature Scheme (TSS), and the Cosmos SDK. 

It follows the Proof of Stake (PoS) consensus mechanism. It involves validators [staking](/news/article/what-is-staking-crypto) their RUNE tokens in the network to validate transactions and run the nodes. Among these, the operative nodes are also responsible for creating liquidity pools.
 
The blockchain works with the same principle as the Bancor DEX. It includes the pool liquidity ecosystem where users deposit their cryptocurrencies. The pool also includes the native token of the chain, which is RUNE. Then the protocol behind it uses algorithms to evaluate the value of the assets against RUNE.

The process facilitates the exchange of non-native tokens. So, for instance, when you swap Bitcoin for Ethereum, the protocol exchanges BTC with RUNE first. Then it moves on to swapping RUNE with Ethereum. 

This double-swapping process allows instant completion of transactions. Besides, it enables non-custodial exchanges to work freely with the THORChain protocol.

## What are the benefits of using THORChain?

One of the main goals behind the creation of THORChain is to offer deep liquidity to the users. It was built on the premise that centralisation removes economic safety from exchanges. That’s why there needs to be decentralised exchanges that offer more [economic security](/news/article/cryptocurrency-and-the-economy) because of locked assets. 

The liquidity of THOR, along with its cross-chain abilities, makes it an exceptional choice for users. It allows them to swap tokens back and forth between different blockchains. Moreover, it does not need intermediaries for swapping, keeping the system swift and secure. 

In addition to that, you can be part of different liquidity pools on the network. It allows you to earn yields on your funds and get crypto loans. 

Overall, the THORChain blockchain provides a single interactive interface from which you can securely access multiple assets. It not only offers interoperability but also has features like crypto lending, yields, etc.

## THORChain ecosystem
 
![thor1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/thor1_18f2cb48bf.png)

[Source](https://thorchain.org/ecosystem)

The network ecosystem involves a range of different decentralised applications (DApps). According to the THORChain website, there are a total of 41 projects offering various services to its users. These include both THOR’s own as well as third-party apps.

The list of DApps involves various self-custody wallets like Trust, Edge, and ThorWallet. It also introduces digital asset trading platforms like ShapeShift DAO, [THORSwap](/news/article/what-is-thorswap), and Rango Exchange. 

You can also get analytical insights on the platform with the projects like THORChain explorer, THORCharts, and Nansen Portfolio. Other categories include NFT, Launchpad, Support, Community, and more.

## THORChain crypto (RUNE)

RUNE token is the native crypto in the THOR network. It plays a crucial role in the cross-chain exchange of different tokens. It serves as a settlement asset and offers deep liquidity. The high liquidity RUNEs provide you with economic safety on the network. Due to its mechanism, you do not need wrapped tokens or several cryptocurrency pairs.

Crypto is also used as the governance token on the network. When you use crypto, you will gain governance rights for choosing your liquidity pool. The network also uses RUNE to provide incentives to the users. 

## RUNE tokenomics and price

The economics of the THORChain crypto is reasonably straightforward. According to [CoinMarketCap](https://coinmarketcap.com/currencies/thorchain/), the max supply of the tokens is 500,000,000, from which around 327,056,566 RUNEs are in circulation. The project's market cap is more than $500 million.

![thor2.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/thor2_21cbd803b0.png)
 
[Source](https://thorchain.org/)

It is designed to lock RUNE's $3 against each $1 of the non-native assets in the liquidity pool. The network's total value-locked (TVL) is $132,570,726.

As for the price of the coin, it directly depends on the usage of THORChain. Currently, one RUNE is priced at around $1.67, with a trading volume of $52,092,701 in the past 24 hours. 

## THORChain price prediction 2023, 2025, & 2030

According to the forecast from [DigitalCoinPrice](https://digitalcoinprice.com/forecast/thorchain), RUNE shows bearish long-term trends. Its data suggest that the coin will likely capitalise on its current price and maintain an average of $3.28 in 2023. In addition, the coin may hit the $6 mark in 2025. However, until 2030, its price will be around $17, even less than its current all-time high value. 

On the other hand, data from [PricePrediction.Net](https://priceprediction.net/en/price-prediction/thorchain) shows slightly bullish trends. It predicts that the THORChain crypto may reach the maximum of $2.95 in 2023, whereas it will likely average $2.62. Moreover, in 2025 its price may grow to $6.57, and it may average around $5.54. Meanwhile, till 2030, RUNE’s price may cross the $30 mark and will likely average $33.81.

## Closing thoughts 

THORChain network is a unique take on DEX. It follows the AMM model and is backed by high liquidity, providing enhanced security. It is an all-in-one platform where you can perform multi-currency exchanges frictionlessly. Besides, it gives you access to the most popular currencies like BTC, ETH, and DOGE. 

Meanwhile, the platform is still seeing growth. Many third-party applications are becoming a part of THORChain, which will help the RUNE crypto to grow as an investment.


Thorchain logo on blue image of lightening strike on mountain

THORchain Explained 

[Enter the Metaverse London](https://techcircus.io/en/events/enter-the-metaverse-london-2) was an event that aimed to introduce a new world of digital to its attendees.

The event featured thought leaders and inspirational designers leading the audience through a technological paradigm shift. The event took place on 28-29 November 2022 and explored exciting developments in VR, AR, and regulatory and legal movements. It delved into the future of e-commerce and gaming in the [Metaverse](/news/article/how-to-buy-land-in-metaverse-worlds) and decentralised commerce.

One of the event's primary focuses was gaming in the Metaverse. 

According to the presenters, wherever gaming goes, innovation follows. A lot of the original innovations in hardware and software were spurred by video games, and [Web3](/news/article/uquid-web3-integrates-with-polygon) is no different. When it is made entertaining and rewarding to engage with new technology, more users adopt it. The event discussed how blockchain empowered players and developers and some exciting models in the gaming world. The panel also discussed significant technological advancements in the gaming industry.

## Introduction to emerging technologies

The occasion introduced its attendees to the latest developments in emerging technologies. These technologies are rapidly gaining traction and are poised to be a major part of the future, like [Augmented Reality](/news/article/augmented-reality-tokens-explained) (AR) overlays digital elements in the real world, enhancing the users' experience. Extended Reality (XR) combines VR and AR, delivering a more immersive experience. The event also explored haptic feedback suits, which allow users to feel like they are in the game.

The Metaverse is an exciting development that aims to create a fully immersive virtual world. It is poised to be the next big thing in e-commerce, and the event delved into its future. It is a shared virtual space where users can interact together in a 3D world. It provides endless possibilities for businesses to engage with customers and deliver immersive experiences.

The occasion featured various presenters, including the Chief Medical Metaverse Officer of AIMEDIS, Professor Shafi Ahmed, Co-Founder of The Sandbox, Sebastien Borget, Director Of Business Development - EMEA of Niantic, Sarah Burslem, CEO of Singularity.net, Ben Goertzel, Sophia the AI, and Blockchain Product Marketing Manager of EX-SHOPIFY, Nicole Sandford. The occasion included various panels, including Web 3.0, the Metaverse, the Future of Gaming, and DeFi's Significance in Enabling Efficient Financial Transactions in the Metaverse.

## Conclusion

Enter the Metaverse London was an informative and exciting occasion that showcased the latest developments in emerging technologies. It left attendees with a deeper understanding of the possibilities and challenges of the digital world and the potential of emerging technologies to shape our future.


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