The [Freeway](https://freeway.io/) network and token foundation is based on the concept of creating a financial system that is more beneficial for all. It aims to revolutionise how finance is traditionally handled and make it significantly more rewarding.

Recognising that traditional finance methods did not prioritise incentives, Freeway set out to create a new approach utilising the capabilities of blockchain technology and the collective power of individuals. It strives to provide greater accessibility, autonomy, and incentives for all individuals, regardless of location or income level.

## Freeway Token price update

Currently, the [Freeway](/news/article/freeway-crypto-halts) Token (FWT) price is $0.004507 and its trading volume over the past 24 hours is $135,768. This token serves as a useful tool within the rapidly expanding Freeway ecosystem. By holding FWT on the Freeway platform, users can gain additional incentives on the products.

Additionally, staking FWT allows for even more reward opportunities. To purchase this token at its current value, the most popular cryptocurrency exchanges are PancakeSwap and Uniswap.

## What to expect from a Freeway Spend account

This account will provide you with standard banking services and offer increased incentives for your daily expenses. The banking services offered include convenient bank transfers for making deposits and withdrawals, a virtual [debit card](/news/article/ledger-crypto-wallet) for daily purchases, and generous rewards for everyday spending.

## How could you earn from Freeway Token?

As per the company website, by staking FWT, you have the potential to earn annual rewards of up to 30% (estimated). Please note that the actual rewards may fluctuate as the reward pools have various factors that can affect the outcome. The estimated range for annual remuneration is between 15-30%.

You can significantly boost your annual rewards on Superchargers with FWT. By holding a balance of their token equal to or greater than 5% of your overall balance, you will be able to earn an additional 10% in annual rewards on your Superchargers. This means you can earn rewards on your Superchargers through the regular rewards program and earn an additional 10% on top of that through holding FWT. This can greatly enhance your overall returns and make your Superchargers even more valuable.

FWT will ensure the stability and security of the Layer 1 Freeway chain through user staking and delegating to node validators. Both users and validators will benefit from staking rewards pools and gas fees generated by the Chain.

## How to stake Freeway Token

To start staking, simply purchase or deposit your tokens and click the stake button. This will earn you estimated annual rewards of up to 30% for 30 days. At the end of this period, your FWT will automatically unstake. To continue earning rewards, just hit the stake button again and start a new 30-day period. During your 30-day staking period, you have the option to reset it and begin the 30 days anew. However, it is not possible to unstake or withdraw your FWT until the 30-day period has ended.

Furthermore, the benefits continue as your daily rewards for staking FWT are deposited into the Supercharger of your choice, allowing your rewards to earn additional bonuses as well. The simplest method of obtaining FWT at its current market value is through Freeway. Additionally, FWT can also be purchased on several other exchanges, including Uniswap, AscendEX, BitGlobal, and PancakeSwap.

## Why wait before betting on the Freeway Token?

In response to significant market fluctuations, this company has halted its services. The platform stated on its website that it is taking steps to diversify its assets to manage potential future market volatility and secure its ecosystem's long-term stability and success.

The company indicated that Freeway users might have to endure a prolonged period of uncertainty, stating that they will not provide further comments until the ongoing process has been completed. 

According to CoinMarketCap, the Freeway Token (FWT) experienced a decline of 79% from 22 October to 25 October. On 22 October, the FWT was valued at $0.007405, but by 25 October, it had dropped to $0.001535.

Even today, Freeway is not accepting new customer accounts for Superchargers. You'll find a pop-up on its website stating that additional information will be provided in the near future.


Freeway Token: What's Going On?

Solice is a virtual reality Metaverse on the Solana blockchain enabling users to engage in activities such as gaming, creating 3D model assets and building mini-games, socialising, and earning money through their virtual experiences.

By supporting multiple platforms, [Solice](https://solice.io/) eliminates the need for users to have the same hardware, software, or operating system. This allows for easy interaction and connection with friends and family, leading to potential rapid growth in the user base.

In this game, players can gather various pets, gemstones, and other collectable items such as NFTs, create assets and mini-games, and construct land plots. Additionally, players can acquire tokens and other unique assets by completing tasks, overcoming challenges in dungeons, and reaching high scores through active involvement and construction in the virtual world.

This VR Metaverse is designed to mimic the flexibility of real life, providing users with a governance mechanism based on a liquid democracy and rules inspired by the real world, which a DAO controls through the Solice native token.

## Earn rewards in the Solice Metaverse

1.	Trade in the Metaverse - The Solice market is an online exchange platform, but it is also working on introducing a marketplace within the [Metaverse](/news/article/burberry-collection-minecraft-metaverse). This feature would enable users to see objects in a 3D VR environment, giving potential buyers a more engaging and personalised experience.

2.	Earn - Users can earn SLC tokens and other rare assets by completing dungeons, mini-games, and quests or by receiving entrance fees for their creations. Additionally, they can earn additional SLC tokens by staking them in the Metaverse.

3.	Create - Solice is introducing a custom editor, an SDK that provides users with a user-friendly way to create, assemble and share 3D models and mini-games. This would be an initiative to empower individual creators by providing them with an intuitive and flexible platform to create whatever they desire. Users can design their 3D models, animate them, and then sell or share them on the marketplace.

## Solice Metaverse secures investment

This VR and cross-platform PC game created in 2021 by Christian Zhang raised $4.3M in funding in a Seed round on 1 December, 2021. The most recent investors were Maven Capital and DeFiance Capital.

Prominent crypto investors Animoca Brands and DeFiance Capital were leading investors in the project, with support from "strategic backers and partners" such as Alameda Research, KuCoin Labs, and others.


Solice: The First Cross-Platform VR Metaverse 

[Shopify](https://www.shopify.com/), one of the most patronized e-commerce platforms globally, has launched a collection of [blockchain commerce tools ](https://cointelegraph.com/news/shopify-launches-suite-of-blockchain-commerce-tools-for-merchants)that aim to improve the NFT user experience of Web3-focused stores housed in its ecosystem, according to a company blog post on 9 February.

Despite many blockchain commerce tools already launched by Shopify, including an expansion of its crypto wallet connects features, the e-commerce platform highlighted token-gating application programming interface (API). According to a designer at Shopify's blockchain team, the tools will help build more token-gating applications for merchants. 

## Shopify NFT merchants can access token gating

Launched in June 2022, token gating confers more value to a [non-fungible token](/news/article/loaded-lions-nft-explained) (NFT) by granting holders of collectibles exclusive access to physical products, content, or community in addition to the [digital token ](/news/article/dingo-crypto-scam-says-security-firm)held in their wallets.

According to Harrison Hosking, the marketing manager for Keak, an NFT wallet tracker, token gating adds utility to NFTs.

With token gating embedded in the platform, Shopify NFT merchants can dictate which token holder they deem valuable to access benefits, NFT drops, and exclusive products. 

Some of the primary benefits of token gating include, but are not limited to, security (due to the verification of NFT ownership through blockchain technology), cost-effectiveness, and buzz around a particular crypto project and the merchant.

Some of token gating's use cases can be highlighted via Shopify and NFT project Doodles, which gives holders exclusive products. Other use cases include Stoner Cats, which gives access to digital content, and Flyfish Club, which gives membership access to project stakeholders.


## When did Shopify NFTs begin? 

Shopify [began supporting](https://www.pymnts.com/news/retail/2021/shopify-will-let-merchants-sell-nfts/) NFT sales in July 2021 with the National Basketball Association (NBA) team Chicago Bulls. It was the first to sell digital collectibles commemorating its world champion rings.

In December 2021, GigLabs announced that it had launched an app for selling NFTs on Shopify. 

In January 2023, many news feeds reported that Shopify merchants can also sell Avalanche NFTs (one of the biggest blockchains by all-time sales volume) through an app called Venly.


Shopify NFT Merchants Get More Tools

If you are familiar with the Game of Thrones series and the White Walkers, chances are you will see a semblance to some characters that form the Ice World NFT collection.

There are 2,765 non-fungible tokens on Ice World representing the ice men and the tree men, who will ultimately be locked in a battle to take control of the entire planet.

## What is the concept?

Members of the Ice World community can acquire the NFT tokens by outright purchase or auction. It is also possible to win some of these tokens by participating in the promos and giveaways on the community page. Once you have an Ice World token, you can resell it to others for a profit.

The concept is interesting, but after nearly a thousand people picked up various tokens as NFTs, the tokens and community site experienced a marked lack of interest. This lack of interest in the Ice World NFTs is not surprising, as the entire NFT market has recently suffered some slump.

## Is there a future for Ice World NFTs?

Despite a seeming dropoff in 2022, [data from DappRadar](https://decrypt.co/118438/2022-versus-2021-nft-sales) shows that $24.7 billion of organic trading volume occurred in the NFT market in 2022. So there is still a vibrant NFT market, and there is a potential for a pick-up in 2023 if the crypto market starts heading in the right direction.

There is a belief that the future of NFTs will be in the [Web3 gaming](/news/article/web3-games-raised-millions) industry. Ice World's developers need to think creatively to take the concept in this direction.

The concept of the Icemen vs. Treemen certainly looks promising if taken further as a hugely interactive video game. In that case, this could reach a new market and translate to enormous earnings for community members.


pink image of blockchain with whitewalker ice nft in foreground

Ice World NFT: What is the Pathway to Recovery?

UK and European customers of the British neo-bank Revolut can now reap benefits from [staking on Revolut](https://blockworks.co/news/revolut-crypto-staking-rewards). The bank announced that customers in supported countries could earn up to 11.65% annual yield, paid in the corresponding tokens, on four cryptocurrencies; Ether, [Cardano](/news/article/cardano-analysis-and-explanation), Polkadot, and Tezos.

This neo-bank is providing the highest yield for DOT at present as compared to other platforms. However, by staking the token directly to the Polkadot network as a validator, one can earn an average annual gain of 14.43%. If you stake DOT through Revolut, you will miss out on nearly a 3% yield. The funds will be kept with reliable custodians, while the company will manage the user's private keys.

## Revolut continues crypto expansion with staking rewards

This [fintech](/news/article/fintech-companies-uk-2023) unicorn is seeking to capitalise on the potential for growth in the digital asset market with the launch of its yield from staking initiative. The fintech giant initially dipped its toes into cryptocurrency by allowing its users to purchase BTC, ETH, and LTC in 2017. [Revolut](/news/article/revolut-review-everything-to-know) has since expanded its selection of supported digital assets, offering more than 90 tokens. 

Furthermore, it allowed users to withdraw Bitcoin to their wallets in 2021.
The company is offering its customers the opportunity to earn cryptocurrency rewards by allowing Revolut to "stake" their coins to verify blockchain transactions. This move shows that they are embracing crypto after several market crashes.

The staking rewards feature will be accessible to customers in Britain and approximately 30 other European nations as part of Revolut's plan to broaden its crypto-related offerings, as stated in a recent statement.

In the last known funding round in 2021, this fintech start-up was valued at approximately $33 billion, making it the most valuable start-up in Britain then.

Owners of crypto assets operating on a Proof of Stake blockchain can stake a portion of their assets to participate in validating transactions. As a reward for their efforts, validators receive transaction fees and/or newly minted crypto assets.


Staking on Revolut Announced

Nakamoto Games is a leading [play-to-earn (P2E) ecosystem](/news/article/free-play-to-earn-games) built on Polygon, where you can play several blockchain-based games and earn lucrative rewards in the form of the Nakamoto Games coin, NAKA.

The platform also enables developers to launch their P2E blockchain games seamlessly. This guide will dive into everything you MUST know about the gaming platform.

![nakamato.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/nakamato_3d3ddf63a4.png)
  
Source: [Nakamoto Games](https://www.nakamoto.games/)

## Nakamoto Games' market cap
  
At the time of writing, the [Nakamoto Games market cap](https://www.coingecko.com/en/coins/nakamoto-games) is just over $20,529,042. The NAKA token is currently valued at $0.2837, with a circulating supply of almost 65M tokens and a total/maximum supply of 180M tokens. Having launched in December 2020, it is fair to say that the Polygon-based P2E blockchain ecosystem is still fairly young.

If you want to buy or sell the NAKA token, BitMart is presently the most active crypto exchange. Other cryptocurrency exchanges to buy and sell NAKA include Quickswap and KuCoin.

You can also purchase the crypto asset on the gaming platform itself, via the P2P DEX. That said, we advise against this for three reasons:

•	The price per asset varies wildly – currently, the crypto asset is up for sale at $0.06, $0.2, and $1, respectively, via three separate, verified sellers!

•	We cannot vouch for the security of your funds via a P2P transfer.

•	You may not be able to buy tokens in bulk.

That said, if you opt for the P2P option, ALWAYS purchase via a verified seller – sellers with a verified 'tick' by their wallet address.

## The Nakamoto Games coin

If you are a gamer looking to utilise your skills to earn quick money, this P2E ecosystem is a good start. The platform claims to enable you to “generate a sustainable and sizable income”. Of course, you must be a skilled player to earn NAKA rewards.

The platform allows anyone with a [MetaMask cryptocurrency wallet](/news/article/what-is-metamask) to access a suite of P2E games and compete for eye-catching rewards and weekly prize pools. Mobile support is currently unavailable, and anyone with a Safari, Chrome, Edge, Firefox, and Opera browser can access the platform via their desktop device.

The Nakamoto Games coin is at the heart of the ecosystem, providing gamers with the required “fuel” to partake in any game – for example, to acquire ammunition within a shooting game.

All NAKA tokens used within games are pooled into a weekly prize pool, a portion of which is burned (deflationary dynamics). The players who rank highest on the leaderboards for each game will receive rewards from the prize pool. The token also plays a part in ecosystem governance.

Token holders may vote on proposals like the burning of NAKA tokens and the composition of weekly prize pools. The final use case of the cryptocurrency is to incentivise developers to conduct research and development on the platform.

If you want to explore additional earning options, the platform allows players to stake their tokens for 180 days and receive a variable/fixed APR. It also boasts of a decent referral programme – for every friend (gamer) you bring to the platform, you will receive a 3% referral bonus on every game your friend plays.

## What games can you play?

At the moment, you can choose from a truly large suite, including story mode and tournaments. Additionally, if you want to play for fun, without earning rewards in the platform's native token (and spending on NAKA, for starters), the platform provides a selection of free-to-play games as well!
 
Source: Nakamoto Games

It should be noted that free-to-play games reward players too – the top ten gamers daily receive free items as rewards!

There are several gaming categories on the platform, including action, shooting, [NFT games](/news/article/coralcube-nft-game-changer), and sports. Choose a category you prefer, select a game that appeases you, and start playing! Here are the top ten games on the P2E blockchain gaming platform at the time of writing:

1.	BUBBLE SHOOTER.

2.	NIGHT WARRIOR.

3.	TANK BATTLE.

4.	SPOOKY RUN.

5.	ZAKA.

6.	NAKA TD.

7.	NAKA STRIKE (Single Player).

8.	CANDY SHOP.

9.	NAKAR RACING INSANITY.
 
10.	NAKA STRIKE (Multi-Player).
 
We recommend trying story mode games, as they are known to pose a serious challenge and keep you on your toes! Other features on the platform worth exploring include Nakaverse, NAKA Punks, and [Marketplace](/news/article/gamestop-nft-marketplace).

## Nakamoto Games for developers

Much like how developers can launch their applications on the Google Play Store, Nakamoto Games enables developers to deploy their P2E blockchain games onto the platform via the Nakamoto User Base. 

Developers can monetize their games and may earn rewards in the form of the platform's native cryptocurrency for their research and development efforts.

We advise you to review the [platform’s whitepaper](https://main.nakamoto.games/pdf/NAKA-Whitepaper.pdf), all social media platforms, and conduct thorough research before building and launching a game on the platform. The blockchain ecosystem is fairly nascent, has a fascinating tokenomics structure, and could potentially boom in the next bull cycle – that said, as advised already, DYOR!


purple image of nakamoto games blockchain logo

Nakamoto Games: A Premier P2E Ecosystem

Blockchain and cryptocurrency started with the idea of not letting central authorities control our finances. This decentralized anonymous system lets people make a passive income while keeping their identity private. This inspired DRIP Network, enabling token holders to have a consistent passive income that grows over time.

Regular shares and stocks pay out a dividend. This means that once you own a company stock, you can make money as long as the company is turning a profit.

This is the principle on which DRIP aims to work. According to DRIP, it will pay token holders a daily dividend, allowing them to make money/passive income without actually having to do anything.

## What is DRIP Network?

DRIP Network, created by teams led by Forex_Shark and BB, was launched in July 2021. Forex, who has been involved in the crypto space since 2012, is the main developer of DRIP. The total supply of DRIP tokens is capped at 99,999,999.

[The network is based on the DRIP Token](/news/article/drip-token). It is a community that pays token holders 1% of their investment daily, going up to 365% a year.

## DRIP features

•	DRIP Network token - According to the DRIP Network website, the official token of the network, DRIP, is built on the Binance Smart blockchain (BSC) as a BEP-20 token. The token is designed to be scarce, deflationary, and resistant to censorship. Its current value stands at £0.38.

•	Swap - Traditionally, you would have to use exchange platforms such as PancakeSwap to exchange your BNB for DRIP. However, now you can use the DRIP Network website to make the exchange without incurring a 10% fee.

•	DRIP Faucet - The Faucet is a feature on the DRIP Network's website where users can deposit their DRIP. As stated on the website, this feature is a low-risk, high-reward contract that operates in a similar fashion to a high-yield certificate of deposit by providing a daily return on investment of 1% up to a maximum of 365%.

## How does it work?

DRIP token workings are simple - you deposit a pre-decided amount of DRIP into the DRIP Network. The idea here is to start making a passive income that will not only return you your initial deposit, but also turn in a profit after a certain period.

To explain further, let's say you invest £10,000 as your initial deposit. It would take you about 3.5 months to make your deposit back; from there, whatever you make from the rest of the remaining 365 days is yours to keep. In other words, it is pure profit.

## How to get started with DRIP

Let's look at how you can start investing and making a profit with DRIP.

•	Buy BNB - Grab yourself some BNB from places like Coinbase, Kucoin, Binance, [or other wallets](/news/article/best-crypto-wallet-uk-top-picks). Once you've got it, send it over to your Metamask or Trust wallet. Just make sure you're sending it to the Binance Smart Chain.

•	Swap your BNB for DRIP - Once you're on the [DRIP website](https://drip.community/), connect your wallet by clicking on the "Connect Wallet" button on the top right corner of the page. Then go to the swap page by clicking on the "Swap" button. To buy DRIP using BNB, enter the amount of BNB you want to exchange under the "Buy DRIP" section and confirm the transaction. 

Review and approve any smart contract and exchange actions on your wallet before proceeding.

•	Deposit your DRIP - Once you have your desired amount of DRIP tokens, click on the Faucet to go to the Faucet page. You can use this step to put in a referral if you have one. To deposit DRIP, input the desired amount and select "Deposit". 

Be sure to confirm the transaction in your wallet and remember that a 10% tax will be applied and the funds will not be refundable.

After depositing, you will be able to view the following statistics: Available DRIP earned (at a rate of 1% per day), the total value of DRIP deposits, total claimed DRIP, total DRIP earned from team member referrals, and the maximum payout amount based on your deposit and 1% daily earning potential. 

This amount may increase when you reinvest. Your team members will also be visible.

•	Hydrate/Claim - You will see two buttons, "Claim" and "Hydrate". "Claim" allows you to collect your earned rewards. "Hydrate" lets you reinvest your rewards, increasing your earning potential and max payout. This option has a 5% fee and is preferred by users who want a long-term investment.

DRIP, a new type of offering, aims to be sustainable by implementing several features that encourage price stability and discourage large holders from impacting the market.


blue image of drip network logo and blockchain

DRIP Network Explained

[DappRadar](https://dappradar.com/) is a global application store tailored to the needs of stakeholders of the decentralized finance (DeFi) space. 

The platform allows the tracking, analyzing, and discovery of decentralized applications (DApps), non-fungible tokens (NFTs) collections, DeFi projects, tokens, token swaps, and airdrops, among others.

Dragos Dunica and Skirmantas Januškas founded [DappRadar](https://dappradar.com/about-us) in 2018. They serve as the company's Chief Executive Officer (CEO) and Chief Data Officer (CDO).

As of 15 January, 2023, the platform that tags itself as actionable, multichain, and peerless provides coverage to the widest selection of applications in Web3 and Metaverse, tracking 13,187 DApps, 16,053 NFT collections, and 48 portfolios. Through this platform, developers, traders, and investors can view digital collectibles, and trending DApps, analyze the periodical volumes of certain applications and NFTs, and discover new blockchain technologies with promising innovations. The data tracking portal sees more than one million monthly users and employs 71 people. 

## DappRadar supports many blockchains

Despite the decentralized nature of the crypto industry, finding information for novices or beginners can be extremely difficult. 

DappRadar has rectified this problem by providing relevant data on more than 50 blockchains. Some blockchains being tracked include Ethereum, TRON, BNB Chain, Flow, Avalanche, Tezos, EOS, [Polygon](/news/article/polygon-crypto), IoTeX, Solana, Algorand, Cronos, Ronin, Immutable X, Celo, Fantom, and WAX. 

In September 2022, DappRadar [announced](https://dappradar.com/blog/dappradar-now-tracks-cardano-blockchain-dapps) the tracking of [Cardano](/news/article/cardano-analysis-and-explanation) DApps. This came on the back of a [Vasil Hard Fork](https://cointelegraph.com/news/what-cardano-s-vasil-hard-fork-means-for-the-blockchain) upgrade which enhanced Cardano's transaction speed. Aside from this, the upgrade triggered DApp development capacity, general usability, and security.

Some of the most popular blockchain DApps tracked by DappRadar include Splinterlands, Alien Worlds, PancakeSwap, Hooked, Planet IX, Farmers World, AtomicAssets, decentralized exchanges Uniswap V3 and V2, NFT marketplaces (OpenSea, X2Y2, and Magic Eden), Meta Apes, 1inch Network, ApeSwap, ApeCoin Staking, Axie Infinity, MetaMask Swap, QuickSwap, and NFT collection NFL ALL DAY.

## DappRadar provides periodical industry reports

To keep users of the platform and stakeholders of DeFi up-to-speed with developments in the industry, DappRadar provides quarterly reports about the state of the industry. The information covered mostly includes NFT trading volume, total transactions within a period, total value locked (TVL) in decentralized applications, and the growing use of airdrops as a marketing tool to draw millions of people to a particular project. 

In a recent report, it shed light on [Blur](https://dappradar.com/blog/new-dapps-report-blur-nft-trading-volume-spikes), one of the DApps based on Ethereum, which has generated more than $300 million in all-time sales in just three months. In the process, it has jumped into the top ten NFT marketplaces in the world.

## The project is supported by a cryptocurrency

Like many projects in the industry today, DappRadar is supported by a cryptocurrency called [RADAR](https://coinmarketcap.com/currencies/dappradar/). The coin was launched in December 2021 to support the platform’s quest of becoming a powerhouse in the shift from Web2 to new heights in the [Web3](/news/article/web3-games-raised-millions) and Metaverse. 

RADAR has many uses, such as serving as a governance token for holders who will contribute to making decisions about the platform.

RADAR can also be staked for passive income. Staking is where a significant number of a coin, in this case, RADAR, is locked up to help a Proof-of-Stake (PoS) blockchain validate transactions.

As of 15 January, 2023, more than 570 million RADARs are circulating in the market from a total and maximum supply of ten billion. RADAR reached an all-time high price of $0.0604 on 15 December, 2021 and tested an all-time low price of $0.004091 on 18 June, 2022.

The coin is supported by nine exchanges (centralized and decentralized). They are Bilaxy, MEXC Global, BKEX, CoinW, Uniswap V3, DigiFinex, Huobi Global, SushiSwap, and Crypto.com.

## Conclusion: Should I use DappRadar?

Millions of people now regard this platform as the best as it provides an all-in-one system due to the quality of its application programming interface (API). With this platform, you can find all the essential information about the emerging sector in one place, which can help you make decisions about decentralized exchanges, lending, yield aggregation, and NFT investing.


blue image of Dappradar logo over image of dapps

What is DappRadar and Why Do You Care?

[FinTech](https://en.wikipedia.org/wiki/Fintech) companies are making waves in the UK, especially with the growing popularity of blockchain tech, such as NFTs and cryptocurrency.

FinTech has entered popular parlance in recent years. An amalgamation of financial and technology, it refers to companies using technology to compete with traditional financial (TradFi) methods in delivering financial services.

Four main components make up the FinTech world:

•	Artificial intelligence.

•	Blockchain.

•	Cloud computing.

•	Big data

These components, often referred to as the ABCD, form the backbone of the industry.

Technological developments are constantly pushing the boundaries of FinTech in a never-ending move toward more financial inclusion. 

The evolution of smartphones and their applications has seen a surge in the popularity and use of mobile banking, investing, lending, and various cryptocurrency services as the general population take more control over their financial future.

The industry consists of start-ups, traditional financial institutions, and technology companies, often all working together to enhance the customer experience and encourage financial intelligence.

## FinTech companies UK

Investment in global FinTech has risen by more than 12,000% from $930 million in 2008 to over $121.6 billion today. Forecasters predict that by 2030 the global FinTech market is expected to reach $949 billion at an average growth rate of 17.2% per year.

FinTech companies UK represent the country's strongest start-up sector, consisting of more than 1,400 'high growth companies' and 20 unicorns (firms worth more than $1 billion). The industry attracts more venture capital than any other business raising some £21.9 billion so far, of which £7.4 billion came in the bumper year of 2021. 

With a total market valuation of just over £11 billion, FinTech in the UK is big business.

As you might expect, 96% of all UK FinTech firms are based in London. Around 9% of companies were founded by a female boss.
As of July 2022, the [three top FinTech companies in the UK](https://www.beauhurst.com/blog/fintech-startup-companies/) were:

•	Checkout.com.

•	Revolut.

•	Monzo

Checkout.com was founded in 2012 and raised £1.36 billion through four equity rounds. Its core business is payment processing software development allowing businesses to pay in more than 150 currencies. Its innovative platform combines several separate payment technologies and covers every stage of the process. With on ramps including Visa, Mastercard, and American Express, it is easy to see why it is the UK's largest FinTech company.

Following closely behind is the well-known brand Revolut, which services more than 18 million customers worldwide with financial services and digital banking through its popular mobile application. 

Since launching in 2013, Revolut has raised some £1.27 billion in equity. In December 2021, the company was awarded a full banking licence from the European Central Bank, making Revolut one of the best well-known FinTech brands on the market today.

In third place is challenger bank Monzo, which is fully regulated by the FCA and PRA in the UK. Founded in 2015 and based in the City of London, Monzo help more than 6 million customers manage their financial well-being through its digital banking platform. Monzo is free to use, but with the Premium option (£15 per month), customers are eligible for free phone and travel insurance.

## FinTech companies UK conclusion

Despite a global market slowdown in 2022, UK FinTech investment reached some $12.5 billion last year. It is easy to see why FinTech is held in such high regard in the UK.

Indeed, with over 2500 FinTech companies based in the country, the UK ranks as the [third largest FinTech hub in the world](https://www.londonstockexchange.com/uk-fintech-ecosystem).

Furthermore, around £3.6 trillion of foreign exchange trades are processed in London daily. This is more than the next four largest markets combined. When you add the fact that some 90,000 finance and insurance firms are based in the UK, it is obvious why the country remains top of the international finance industry.

According to a recent report by Deloitte, the UK FinTech industry is dominated by WealthTech and Payments. However, there are considered to be some 23 subsegments of the national ecosystem, making for an extremely varied and versatile industry.

As we can see from the examples above, growth in the space continues to be driven by high levels of investment, reaching some $11.6 billion in 2021, second only to the USA and counting for half of all European FinTech investments. As more and more people embrace the move away from traditional banking, the FinTech industry is predicted to double in value by 2030. If, as many expect, this forecast continues to materialise for FinTech companies UK, there has never been a more opportune time to be involved in this exciting industry.


blue image of two women working on computers in tech company

FinTech Companies in the UK 2023

After a last-minute change of heart, it is a question challenging many in the last couple of months – just when is the Shibarium release date?

A series of delays towards the end of last year means that the release date for this eagerly awaited Ethereum scaling solution has remained a mystery. New evidence has shown that, finally, we may be moving closer toward the launch of this long-awaited 'layer 2 scaling solution'.

## ‘Layer 2 scaling solution'

Shibarium is a [layer 2 scaling solution](https://crypto.com/university/what-are-layer-2-scaling-solutions) built on top of the [Ethereum](/news/article/ethereum-merge) network. It is designed to facilitate the Shiba Inu ecosystem. In theory, this should provide thousands of users access to the myriad Ethereum-enabled applications.

Layer 2 solutions take advantage of the vast security and infrastructure benefits of layer 1 blockchains while ultimately providing cheaper and faster transactions. They achieve this by 'sitting on top' of layer 1s and using technical innovations like Roll-ups and Federated Side Chains to increase transaction times while reducing gas fees.

This helps to take pressure off a main chain while continuing to provide access to its benefits. Close association with Ethereum allows users of layer 2 scaling solutions like Shibarium access to the massive DeFi ecosystem on the world's second largest blockchain.

## Immediate benefit

What can we expect when the Shibarium release date is finally decided? It goes without question that Shibarium is one of the most highly anticipated projects to be launched in the Shiba Inu ecosystem. But just what will its launch mean in real terms?

Let's look at some of the immediate benefits.

Firstly, and most importantly, the successful launch of Shibarium will mean much lower transaction fees for those looking to develop applications on the platform. The high gas fees associated with the Ethereum blockchain are well documented. They are often a barrier to entry for those looking to get into crypto. Scaling solutions such as Shibarium promise to be much cheaper to use without losing the security benefits of the Ethereum blockchain. This is a massive draw for any developers looking to build.

Due to the [blockchain trilemma](https://academy.binance.com/en/articles/what-is-the-blockchain-trilemma), speed is often sacrificed at the expense of security. That means peak period transactions across Ethereum can slow to as little as 30 transactions per second. Because scaling solutions such as Shiberium do not access the main chain, transactions can reach into the thousands and provide much-needed scalability when it is needed the most.

This combination of cheaper and faster transactions is irresistible to developers looking to take advantage of Ethereum's stability and security. Indeed, the latest data shows that decentralised gaming application developers, such as those behind Shiba Eternity, are beginning to realise that this promising layer 2 solution provides everything they are looking for.

The successful rollout of Shibarium is sure to present more opportunities for the burning of the SHIB token, which will come as a great relief to holders of the coin. With 500 TRILLION tokens at its launch, many industry experts believe this high number is unfavourable to any future price gain. Consequently, Shibarium is expected to feature several burn mechanisms contributing to the drop in circulating supply.

With plans to launch a Metaverse project also in the pipeline, Shibarium is surely one of the projects to keep a close eye on in 2023.

The native token of the project, $BONE, has been democratically distributed by its anonymous creator Ryoshi. Like most other layer 2 solutions, node operators across the network will be rewarded in BONE for validating and processing transactions. With a circulating supply of 230 million tokens, BONE has every opportunity to be a highly tradable coin.

## Project release date - ‘close’

At the time of writing, the Shibarium release date is still unclear. However, as we are all aware, the world of crypto is unpredictable and anything can happen.

That said, the creators behind the project, Unification Foundation, are keen to get the ball rolling. An October 2022 [Twitter post](https://twitter.com/ShytoshiKusama/status/15869099) by Lead Developer Shytoshi Kusama highlighted the team's insistence on doing 'one thing at a time'.

As far as we can tell, the project has completed an internal alpha testnet phase before a public testnet phase which shows that the project release date is 'close'. It is thought that one of the key components of the project is the development of a secure and efficient wallet function. Getting this element correct is something that cannot be rushed.


blue image of shiba inu dogs smiling with shibarium shiba coin in centre

Shibarium Release Date Update

Metaverse, an alternative digitised reality, is rapidly taking shape. According to [research](https://www.precedenceresearch.com/metaverse-market), the global Metaverse market is expected to be worth $1.3 trillion by 2030. No wonder so many are asking how to buy land in Metaverse worlds.

More blockchain projects and brands are exploring it to stay ahead of their competitors.

But, the gaming and tech industries aren't the only ones interested in it. Entertainment, fashion, food, and other industries have also jumped on this bandwagon. Furthermore, Metaverse real estate [investing](/news/article/how-to-invest-in-metaverse) is becoming popular among the masses.

It is the reason virtual land prices are inflating and gaining investors' attention. If you, too, are looking to invest, here's how to buy land in Metaverse worlds!

## Why should I buy land in the Metaverse?

Before we address the “how to [buy land](/news/article/how-to-buy-metaverse-land) in Metaverse" part, think about how it could be beneficial. Here's how a plot in a 3D immersive world could be a rewarding investment!

1.	Sell it for profit
You could invest in Metaverse land to use it as an asset, just like traditional real estate. Once the value of land increases, you can flip it to earn markups. The transactions in the virtual world are secure as they use blockchain technology. So, every transaction is immutable, and you can easily prove it anytime. 

2.	Build on it
Secondly, you can create different things in 3D worlds, such as your [virtual home](/news/article/the-crypto-house) or a business. You can also create gaming experiences or organise live events for others. Users can also make it premium, so people have to pay to become part of it.

3.	Rent it out
Another profitable option is to rent it out. Many platforms allow you to buy a 3D plot and give it for rent. This way, you can generate a stable passive income. 

4.	Metaverse marketing
Another excellent opportunity virtual real estate possesses is a new way of marketing. You can become part of paid marketing campaigns via your lands. This kind of advertising would be less intrusive for customers and allow you to earn your share.

## Five steps to buy land in the Metaverse

We have listed five easy steps to help you purchase a virtual property.

Step 1: Set up a crypto wallet
To enter the Metaverse, the first thing you’ll need is a digital wallet. Choose a trusted one where you can securely keep your assets. Select a wallet compatible with most of the Metaverse platforms. 

Additionally, you should look at the wallet’s asset management ability, liquidity, and range of supported cryptocurrencies. Some ideal choices concerning these requirements are [MetaMask](https://metamask.io/), [Coinbase](https://www.coinbase.com/), and [Trust wallet](https://trustwallet.com/). 

Step 2: Pick a Metaverse platform
Pick a platform where you want to buy your virtual real estate. To select the right one, evaluate the projects based on their popularity, asset value, and use cases. Platforms that are popular among celebrities, brands, and tech companies offer better investment opportunities.

Until now, the Metaverse worlds that have been the most impactful are the [Sandbox](/news/article/sandbox-games) and [Decentraland](/news/article/decentraland-price-prediction-2025). However, more projects are being introduced as technology evolves. You can find a few new platforms later in this article. 

Step 3: Purchase the platform’s crypto
Once you have sorted out which 3D immersive world would be best for you, consider buying its crypto. Since plots in virtual worlds are sold as NFTs (non-fungible tokens), [Ethereum](/coins/eth) is the most common crypto to acquire. Other than that, the choice of platform will determine [which crypto coins](/news/article/metaverse-crypto-coins) you need in your e-wallet. 

For instance, to buy land in Decentraland, you must have MANA tokens. Similarly, for Sandbox, you would need SAND tokens. 

Step 4: Choose your land
The next step is to decide which plot would be appropriate for you. Here, three things are important to consider:

•	Location.

•	Size.

•	Your purpose for buying the plot.

Firstly, check out whether the locality is populated or not. If yes, see who owns the surrounding land and whether there is a presence of brands. These things will determine the future value of the real estate.

Secondly, check its size to know what you can build on it. This will allow you to evaluate whether it’s overpriced.

Most importantly, consider what you want to do with the piece of 3D land. It could be flipping it as an asset or renting it to generate passive income. You can also create experiences for people. So, choose according to your purpose. 

Step 5: Buying the land
Once everything is sorted out, you can move ahead with buying the land. The following two options may help you further in making an informed decision.

Option 1:
One way to do it is to integrate your e-wallet with the Metaverse platform you selected. Download the crypto wallet’s extension and set it up on your browser. Then go to the Metaverse’s website and create an account there. 

It will ask you to select one of its compatible wallets. Choose your wallet and go ahead with account creation. Now, directly go to the platform’s marketplace and buy the chosen land after checking its price.

Option 2:
Another easy way around it is to look for your desired plot on the NFT marketplaces. Since [virtual real estate](/news/article/nft-land) is NFT, you can find them on any top-rated marketplaces like [OpenSea](https://opensea.io/). Sandbox and Decentraland's NFTs are listed on OpenSea, and you can buy them through Ether. 

## Best Metaverses to buy a digital real estate

Here are some popular Metaverses to buy digital real estate from:

1.	[The Sandbox](https://www.sandbox.game/en/) is a P2E game that introduces you to a highly developed 3D world. Celebrities like Snoop Dogg, Paris Hilton, and Justin Bieber have already invested in it. 

2.	[Decentraland](https://decentraland.org/) is the second most popular name. It uses MANA tokens and has the most expensive land.

3.	[CryptoVoxel](https://www.voxels.com/) is a small project but has all the features of virtual worlds. You can find plots at cheap rates here.

4.	[Treeverse](https://www.treeverse.net/) is an MMORPG that provides realistic gaming experiences in the digital world.

5.	[Pax World](https://pax.world/) is another name that recently became popular as [Prince Harry and Meghan Markle](/news/article/harry-and-meghan-news-metaverse) decided to join it. It creates experiences through which people can socialise virtually.

## Final thoughts

We are gradually moving towards a virtual world imagined in sci-fi movies. Many platforms are now taking shape, allowing you to own real estate virtually. Therefore, we laid out the step-by-step process on how to buy land in Metaverse worlds. By following it, you can become the owner of a virtual land and generate profit through it.


"Rent or Buy" sign planted in metaverse digital landscape. 

How to Buy Land in Metaverse Worlds

If you are planning to purchase Solana-based tokens, you should never miss the powerful [Solanascan](https://solanascan.io/) alternative SolScan. With this blockchain explorer, you can track everything related to the cryptocurrency, including transactions, blocks, prices, and more.

## What is Solscan?

[Solscan](https://solscan.io/) is a cloud-based data analytics platform that lets users search for any information on the [Solana blockchain](/news/article/solana-price-gbp). This way, you can find the most recent price of the tokens, the latest news about the blockchain, and other information.

The platform makes it easier for users to understand the analytics and data on a blockchain.

## Benefits of using Solanascan

•	Track the performance of the portfolio over time.

•	Get alerts about price changes.

•	Analyze market trends and changes.

•	Get the latest company news.

•	No limit to the number of searches from the homepage.

•	Get the entire transaction history, including the transferer, transferee, transaction amount, and current holders.

•	You can also get to know the latest dollar value, SOL balance, and the cumulative number of transactions from the address information page.

## How does Solscan work?

Solscan works just like Solanascan. By entering the correct information (such as token address) into the search bar of the Solana blockchain explorer, you'll be able to view various data such as transaction costs, SOL Balance, and NFTs.

It scans for relevant information from the Solana blockchain and provides real-time updates. For example, you can get every detail of past Solana transactions, the holders, the transaction cost, and so on.

## What does Solscan track?

Apart from monitoring the transactions, it also lets you track more details of NFTs, tokens, smart contracts, blocks, and crypto whale trades. That is why it is considered among the best Solanascan alternative.

If you are new to the Solana blockchain, this tool can really help to understand every term related to Solana transactions. Feel free to explore this platform anytime from anywhere in the world.


blue image of solscan logo with picture of solana rocket

Solanascan Alternative Solscan Explained

Dogechain bridge allows holders of $DOGE coin to gain more utility for their coins beyond transactions.

This year has been a rollercoaster for crypto lovers. From [TerraLuna's collapse](/news/article/terra-luna-collapse) to [FTX's bankruptcy](/news/article/ftx-collapse-blockfi-suspend-withdrawals), many events shaping the crypto market have occurred this year. They have led crypto holders through many emotions, including fear, anxiety, worry, relief, and devastation.

Amid all this chaos, Dogechain was launched in September.

## What is Dogechain?

First, I'd tell you what it isn't. Dogechain isn't an offshoot of Dogecoin, regardless of how similar they sound and how intertwined they are.

There are many technical and somewhat unclear definitions of Dogechain out there. The simple explanation is that Dogechain is a Proof-of-Stake blockchain built on the Polygon network to improve and increase DeFi access for Dogecoin users.

Dogechain was built to improve Dogecoin and create new avenues where it can be used to access the wider world of DeFi. Polygon Edge, the network on which the Dogechain is built, supports the building of EVM-compatible (Ethereum virtual machine) blockchains that allow the creation of decentralized applications, tokens, and the minting of NFTs.

This opens considerable possibilities for Dogecoin holders, who can now gain more utility beyond simple transactions from $DOGE. But how will that work when $DOGE cannot be used on Dogechain?

## How does Dogechain bridge work?

To combat the compatibility problem between $DOGE and Dogechain, the founders of Dogechain created the Dogechain bridge.

The idea of a bridge in cryptocurrency isn't new. Dogechain bridge was built on that concept to find a way for Dogecoin users to port and use their $DOGE in the new blockchain.

How the Dogechain bridge works is that when you send $DOGE,  a multi-signature smart contract keeps the $DOGE in escrow and then mints its equal in $wDoge. So, if you send 200 $DOGE, you'll get 200$wDOGE which you can then use to [access DeFi, buy NFTs, or use DApps](https://learn.bybit.com/blockchain/what-is-dogechain/).

You should note that Dogechain has a minimum amount of 100 $DOGE you can send over using the Dogechain bridge. Anything less than 100 $DOGE wouldn't fulfil the requirements for the smart contract conversion of $DOGE to $wDOGE.

Beyond the immediate ability to use Dogecoin on an EVM blockchain, this Dogechain bridge almost completely erases the barriers to entering DeFi and NFTs for holders of the famous memecoin.

It also means more development and growth for Dogechain. Developers can build DApps, Metaverse, GameFi, and digital marketplaces, while Dogecoin owners can interact with Dogecoin on those apps.

## Concerns over Dogechain bridge

The concerns around the bridge converge on one point - security. However, Dogechain says it has this under control. Although they won't be using Polygon's security measures, they are prepared to ensure secure transactions for users.

## Conclusion

Dogechain is just a few months in and has already seen massive interest. As of now, more than 200 million dollars worth of Dogecoin has gone through the bridge. Although this presents as only 2.5% of all the $DOGE in existence, it is still a great start.

As more people explore and benefit from this new ecosystem, more will be excited to join. It's just a matter of time.


green image of techy modern bridge with dogecoin on centre

Dogechain Bridge Explained

As non-fungible tokens (NFTs) continue to make waves, the possibilities of the digital and physical world colliding have grown with augmented reality.

Augmented reality tokens have grown in popularity since the metaverse boom. Creators have found a bridge between the immersive technologies of augmented reality and NFTs.

## What is augmented reality?

Commonly called AR, augmented reality is an interactive experience that enhances real-world objects through computer-generated information.

AR helps creators enrich their works by allowing technologically creative ways to exhibit and give context to digital artwork.

## What are augmented reality tokens?

NFTs transform AR experiences and make them verifiable assets. These tokens are Proof-of-Ownership tokens attached to digital assets on the [blockchain](/news/article/what-is-blockchain). 
These tokens are unique and not interchangeable, making the owner the sole possessor of the digital media.

These tokens have different use cases depending on the augmented reality intended by the creator. The most popular use cases are in art, gaming, and e-commerce.
In art, NFTs are pivotal to allowing artists to sell digital assets stored on the blockchain. AR allows NFT collectors to experience digital art in creative ways.

In gaming, play-to-earn (P2E) has grown popular in the past few years. Augmented reality tokens allow players to acquire in-game assets and cryptocurrency. Players can experience their in-game assets through AR, making the game more immersive and the narrative more compelling.

## Benefits of AR Tokens

### Use cases:

Augmented reality tokens add physical elements to digital assets. Users can distinguish themselves in the Metaverse with AR avatars, and creators can engage directly with fans.

They also serve as native tokens on different platforms. The tokens can be used to purchase features, in-game assets, and services.

### Passive source of income:

AR tokens allow creators to earn royalties on every transaction. Collectors can also own tokens that can be traded and surge in price.

## What are some popular AR Tokens?

If you intend to invest in AR tokens, you need to buy the project's tokens to be able to participate in their ecosystem. Here are some top-performing projects you should consider.

### 1.	Mossland: 
According to [CoinGecko](https://www.coingecko.com/en/categories/augmented-reality), in the last seven days, [Mossland](https://www.moss.land/en) has remained the top AR token. Open-source Metaverse platform Mossland is a place where users can buy and sell digital/offline goods, collect points, and play mini-games.

The Mossland Metaverse token is the Moss coin (MOC). This token is used for Mossland's entertainment services that mirror the real world.

### 2.	Somnium Space: 
This is an augmented reality world built on the Ethereum blockchain. On [Somnium Space](https://somniumspace.com/), users can buy land, build or import NFTs, explore, and trade.

The native token of the platform is CUBE, an ERC-20 token. CUBE can be used to purchase land and pay for services on the Somnium platform.

### 3.	Over the Reality (OVER): 
Built on the Ethereum and Polygon blockchains, OVER is a seamless bond of the physical and digital worlds. The platform allows users to own digital real estate and supports AR capabilities like AI avatars and realistic NFT assets. The OVR token serves as the platform's native token.

## Conclusion

While no one can predict the future, it appears augmented reality tokens will be part of what the [Metaverse](/news/article/how-to-invest-in-metaverse) looks like in its final form.


pink image of AR visualisation of 3d bitcoin token

Augmented Reality Tokens Explained 

MyAlgo Wallet is a [digital cryptocurrency wallet](/news/article/solana-phantom-wallet-guide) launched by the Algorand Foundation. This project by Algorand is fairly new and is the second digital wallet in their collection. Here's how you can create a new wallet on MyAlgo and activate it properly.

## Create an account on MyAlgo Wallet’s website

Open your browser of choice and head to the [MyAlgo Wallet website](https://wallet.myalgo.com/new-account). 

Here, you'll see the terms and conditions and a rather in-your-face disclaimer. The website will warn you of the decentralized nature of the digital wallet, and also remind you to take special care of your mnemonic seed, which we'll discuss below.

Then, you set a password that passes the requirements set by the website and click on "New Account". This will allow you to create a new MyAlgo Wallet.

## Store and verify your mnemonic seed phrase

On your screen, you'll come across five cards consisting of a collective total of 25 words. This will be your mnemonic seed phrase. Ensure you save it, store it somewhere safe physically on a piece of paper, and never lose it. It will be the only verification method to access your account should a mishap occur.

You'll also be asked to verify this seed phrase in the same order as it was displayed previously. Make sure you get this part right!

## Set an account name and voila!

Finally, set a name for your wallet and hit the "Create Account" button. You're now set and ready to start trading ALGO crypto coins!

We must stress this again; it is essential that you make sure that your mnemonic seed phrase is secure and accessible only to you. If someone else gets access to it, they'll automatically have access to your account. 

Don't leave yourself vulnerable, and be safe out there!


blue image of hands opening wallet with myalgo logo

MyAlgo Wallet: How to Make and Use One

Leading blockchain infrastructure provider and data aggregator for guilds and [Web3](/news/article/what-is-web-3.0-crypto) projects, [BlockchainSpace (BSPC)](https://www.blockchainspace.asia/) has [acquired the majority stake](https://twitter.com/Blockchain_SPC/status/1615680705916198912) at gaming and e-sports media house and agency, Metasports. The move sets the stage for excellent prospects for the Web3 community as the year 2023 unfolds.   

The strategic partnership with Metasports, at a time of increased market uncertainty, is expected to generate more value for BSPC's Guild Hub, the firm's flagship product, while giving Metasports a solid foundation to access high-impact Web3 communities.

BlockchainSpace founder and CEO Peter Ing said the partnership aligns with similar objectives. It will become a springboard toward a robust 2023, hoping it will enable the firm to take even more significant strides as the year progresses.

Commenting, Ing stressed that the companies look forward to "unlocking the potential of blockchain technology" as well as "discovering new ways to drive growth".

## BlockchainSpace addressing business legitimacy issues

BlockchainSpace launched the Guild Hub project in November 2022 after noticing that while the emergence of increasing online Web3 communities associated with gaming guilds was instrumental in driving web adoption and creating entrepreneurial opportunities, business owners needed a forum for legitimizing their businesses. 

The Guild Hub, therefore, is a forum aiming at addressing the business legitimacy issues and offering a more effective way of monitoring the Web3 community while guaranteeing that every guild is accounted for and is safe to partner with.

With Guild Hub, BlockchainSpace provides all guilds with a "Guild Profile", a BSPC-certified identity enabling the stakeholders to access various projects and platforms besides viewing participating platforms, products, services, news, analytics, and crypto on-ramps and off-ramps. The Guild Hub is also designed to enable [Web3 games](/news/article/web3-games-raised-millions) to determine what guilds to partner with while players can select the right communities with which to connect.

## Introducing significant changes

Launched in December 2021, [Metasports](https://www.metasports.gg/) is the go-to media house and gaming agency and the parent organization behind successful online publications like Lunacian Sports League, Kookoo TV, SEAesport News & Media, and others.

The firm offers access to leading content creators and more than 500 Web3 guilds, besides acting as a bridge between Web2 and Web3 gaming.

Through their newfound partnership, both firms are geared toward introducing noteworthy changes to impact their business development, besides significantly contributing to the success and longevity of the up-and-coming global Web3 community.


blockchain space logo over image of cryptocurrency coins

BlockchainSpace Takes Bold Leap in Web3 Gaming 

The importance of a sustainable future cannot be overstated.

As society evolves, more conscious efforts toward sustainability are being made, with the rise of environmental, social, and governance initiatives by leading corporations worldwide. How can features of blockchain technology support this?

According to a recent statistic, the G20 countries will raise more than [$97 trillion](https://www.g20-insights.org/policy_briefs/fostering-sustainable-global-growth-green-finance-role-g20/) over the next decade and a half to accelerate sustainability efforts. Raising awareness of global social and economic inequality, as well as developing effective governance frameworks to address these issues, is critical. 

Private investments in climate-related projects are increasing, with one [hedge fund](https://www.forbes.com/sites/scottcarpenter/2020/07/04/hedge-fund-marshall-wace-will-bet-on-esg-stocks-with-new-1-billion-fund/?sh=520d75dc97de) betting $1 billion on ESG stocks in 2020.

One thing to remember is that sustainable development necessitates collaboration with the finance sector. With blockchain technology emerging as the future, decentralized finance will also play a role in constructing a sustainable future. How can features of blockchain technology support sustainability efforts? This article answers that and how the tech can solve various pain points associated with ESG initiatives.

## What is blockchain technology?

[According to Amazon](https://aws.amazon.com/what-is/blockchain/#:~:text=Blockchain%20technology%20is%20an%20advanced,linked%20together%20in%20a%20chain.), blockchain technology is an advanced database mechanism that allows for the openness and transparency of transactions within a business network. 

[Blockchain](/news/article/what-is-blockchain) technology uses a distributed ledger system, which allows a group of participants to reach an agreement without needing a third party. Blockchain technology is considered the new era of digital innovation because it is the basis of the next generation of the internet, Web3, and replaces traditional finance with decentralized finance. 

## Features include:

### Immutability

Immutability means that transactions, once registered on the blockchain, cannot be altered and is permanent. This is an essential feature of blockchain technology that enforces transparency and trust.

### Decentralization

Decentralization in blockchain involves distributing governing authority amongst different participants rather than a central entity. This promotes fairness and enhances the security of the blockchain. It is another vital feature that enables trust, openness, and transparency.

### Consensus

Blockchain technology relies on several consensus mechanisms to maintain the integrity and trustworthiness of stored data. Consensus algorithms establish rules about consent for recording transactions.

How can features of blockchain support sustainability efforts?
Blockchain technology, among other things, can be a valuable tool in mitigating environmental issues such as climate change and carbon emissions. There are various ways in which blockchain technology can play an important role in boosting sustainability initiatives, especially ESG, such as:

### Supply Chain: 

Blockchain tech can improve supply chain traceability. 

Blockchain technology is a distributed ledger technology that can protect critical company data from attack because data is stored in a decentralized manner. This has a wide range of applications in the food industry. Demand for ethically sourced products has grown, particularly in the food industry. 

Users can use blockchain technology to trace these products' supply chains and determine whether they are safe to consume. As a result, blockchain enhances the environment for suppliers, transporters, distributors, and retailers by making supply chains more efficient.

### Combating Climate Change:

With blockchain technology, renewable energy can be expanded, reducing carbon emissions. Companies can offset their carbon footprint using blockchain by investing in environmentally sustainable projects. Crypto donations are now being accepted by the Carbon Offsets to Alleviate Poverty organization.

### Renewable Energy:

Using blockchain to manage renewable energy production is an excellent way to increase efficiency and reduce costs. The blockchain system promotes collaboration between utility companies and customers, and blockchain technology improves distributed energy production. The market can allocate production and use alternative types of energy.

## Final Thoughts

How can features of blockchain technology support sustainability efforts? These examples are just a few of the many ways the tech can help. With the incorporation of blockchain technology in ESG initiatives, more sustainable infrastructure can be put in place, improving the overall social outcomes of ESG initiatives. Furthermore, blockchain tech can be used to enhance governance frameworks and sustain value by providing transparency and verification processes. 

Blockchain technology is expected to become a mainstay in ESG initiatives, spawning more creative applications due to this integration.


yellow image of eco friendly hand holding leaves

How Can Features of Blockchain Support Sustainability Efforts? 

In the latest MATIC news, Polygon announced a [hard fork event](/news/article/cardano-hard-fork) in a [blog post on 12 January](https://polygon.technology/blog/hardfork-incoming-upgrading-polygon-pos-chain-to-boost-performance), following weeks of [preliminary debate](https://forum.polygon.technology/t/pre-pip-discussion-addressing-reorgs-and-gas-spikes/10623/5) on the Improvement Proposal (PIP) forum page in late December.
  
The hard fork is set for Block >= 38,189,056. A centralised, single actor will not initiate it. Network validators must update their nodes before the designated block, which they are already doing.

It is reported that the Polygon hard fork, which has now been confirmed, will solve gas spikes and chain reorganisation issues that have hampered user experience on the Polygon Proof-of-Stake (PoS) chain.

## Polygon MATIC news - Votes in favour of increasing base fees 

87% of the governance team's 15 votes approved raising the base fee change denominator function from 8 to 16 to prevent gas cost spikes and decreasing the sprint length function from 64 blocks to 16 to solve the chain reorganisation problem. 
88. 
The team said that cutting sprint duration will enhance transaction finality, allowing a single block producer to add blocks continually at a frequency of 32 seconds rather than the present interval of 128 seconds.

## Polygon MATIC news - Number of blocks not affected

Since this adjustment does not affect the total time or number of blocks produced by a validator, they noted that overall rewards would not change.

When a block is erased from the blockchain to create a place for a new one, it creates a chain reorganisation to make room for the more recent longer chain; all node operators have the exact copy of the ledger. However, if the blocks are to be reorganised, it must be done as quickly as feasible because it raises the risk of a 51% attack. The team has verified that token holders and delegators would be unaffected by the hard fork and that applications will not be impacted. 

[MATIC](/news/article/matic-price-prediction) is trading at $0.977, up 13.6% since the company announced the news on 12 January.


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