Greetings, Whovians, and welcome to Dr Who Worlds Apart.

Have you ever thought of jumping in the TARDIS and travelling across the universe? Well, now you can.
A collaboration between [Reality Gaming Group](https://realityplus.com/) and the [BBC](https://www.bbc.co.uk/) has brought the longest-running and most successful science-fiction television show in the universe to your digital decks.

[Dr Who Worlds Apart](https://doctorwho-worldsapart.com/) is a digital card trading game where players can collect, battle, and trade in real time:

•	Assemble your decks with your favorite characters, objects, and moments from the adventures of the Timelord.

•	Trade - buy and sell cards on the Worlds Apart native marketplace with users from around the globe. Buy card packs and tokens on the online store.

•	Battle it out with friends in the online game to conquer all of time and space!

## How Dr Who Worlds Apart works

By harnessing the power of blockchain technology, Reality Gaming Groups (RGG) has transformed digital collectible cards into secure, protected, and scarce [Non-Fungible Tokens (NFTs)](/wiki#character-n). NFTs give the cards unique identities, which ensures that every gameplay detail is recorded and publicly stored. This allows you and your teammates to see a track record of wins, losses, and all other accomplishments.

## How to enter the Whoniverse 

Users can register their accounts and start collecting cards as well as adding cosmetic Alien frames straight away. These can be purchased in-store or on the secondhand marketplace using Pandaks (named after the original Lord President). $1 is worth 100 Pandaks. What's more, you earn ten free Pandaks every time you log in! The earlier you assemble your deck, the lower the price will be.

## Bringing Dr Who to younger generations

Co-founder of RGG Tony Pearce said: "In the beginning, getting Doctor Who fans to understand what an NFT is had proved difficult. Together with the BBC, we hope to educate the younger Doctor Who fans of why there is value and utility with these cards."

## Paper or digital deck - what’s more sustainable?

There has been much media coverage concerning Bitcoin's intensive energy use. It is estimated that the world's largest cryptocurrency consumes more electricity per year than the entire country of Argentina which, with a population of 45 million people, is a lot of energy!

Context is key when interpreting statistics, and carbon emissions can be difficult to measure across different industries. However, the transparent nature of blockchain's distributed ledgers makes it much easier to perform audits and approximate current and future energy use.

In industries with physical supply chains, it is a complex and often inaccessible process to calculate [scope 3 emissions](https://www.carbontrust.com/resources/briefing-what-are-scope-3-emissions). This is especially so in sectors like [metals mining](https://www.gold.org/news-and-events/press-releases/gold-and-climate-change-the-energy-transition-press-release) which create a much larger carbon footprint than crypto.

All online activity has an associated energy cost. For example, [YouTube uses 250% more energy](https://thefactsource.com/how-much-electricity-does-youtube-use/) per day than the entire Bitcoin network. The [traditional banking system](https://cointelegraph.com/news/banking-system-consumes-two-times-more-energy-than-bitcoin-research) uses twice as much energy as the Bitcoin network daily. [Research by Cambridge University](https://www.jbs.cam.ac.uk/wp-content/uploads/2020/08/2019-09-ccaf-2nd-global-cryptoasset-benchmarking.pdf) suggests that the energy that powers crypto mining is already as much as 78% renewable.

There is often a misconception that the energy cost of Bitcoin is the same for all blockchain networks. Ethereum uses about half of the energy of Bitcoin, and the network's overhaul from the Proof of Work consensus model to Proof of Stake has reduced Ethereum's energy usage by 90%.

## RGG’s approach to the climate reality

Using and developing NFTs and blockchain applications require energy, just like any game developer or other industry in the world. [Reality Gaming Group](https://realityplus.com/) understands that blockchain technology has a significant [environmental impact](https://doctorwho-worldsapart.com/sustainability/) and is committed to keeping this to a minimum. To this end, all of the Group's data servers and websites are certified as carbon-neutral.

Dr Who Worlds Apart runs on a fork of Ethereum known as a ‘sidechain’ which uses less energy than the Ethereum mainnet and is more versatile for bespoke development. RGG plans to integrate Polygon and other layer 2 companies to improve energy efficiency and speed further while retaining the security and authentication benefits of the Ethereum network.

It can be argued that the emissions involved in manufacturing and transporting physical cards may have more impact on the environment than collectible digital cards using NFT technology.

Built using blockchain for integrity and utility, Dr Who Worlds apart is the perfect platform to inspire existing and future fans. So, don’t waste any more time. Go forth, assemble your deck, and get collecting to master the universe.


Dr Who Worlds Apart: The Time is Now

Cyberpunk is one of the new trends to make it big in the NFT space.

The non-fungible token market has come a long way. It started in the early years of the last decade with the mere introduction of coloured coins. Then, [Ethereum emerged](/news/article/eth-to-gbp) and provided a platform where they flourished. Post-2018, NFTs have become a buzzword in the industry, with even memes being minted as NFTs.

But 2021 was the real game changer for these tokens. The year saw a record [$17 billion worth of NFT sales](https://www.cnbc.com/2022/03/10/trading-in-nfts-spiked-21000percent-to-top-17-billion-in-2021-report.html) and was dubbed "the year of NFT". Today, you see brands, celebrities, and artists promoting them.

Along with the tremendous market growth, it has also transformed digital art. Now, various genres have emerged in digital collectables. One of them is cyberpunk NFT. 

## What is a cyberpunk NFT?

Neon lights, smoke, femmes fatale, a person standing at the fringes of the city, late nights, and tall buildings - these best define cyberpunk. It is a distinctive subgenre of sci-fi. It has gained popularity in the non-fungible token market, notably among Gen-Z, who love to collect digital art pieces.

## The main themes you can observe in this new genre of NFTs are; 

•	Quantum computing.

•	AI (Artificial intelligence).

•	Technologies beyond AI.

## The rise of cyberpunk NFT genre

[Web3-based games](/news/article/web3-games) and the emergence of [Metaverse](/news/article/farming-games-in-metaverse) are the two reasons behind the skyrocketing popularity of this genre. In the last couple of years, various RPG titles have surfaced that share cyberpunk themes. 

Among them, [Cyberpunk2077](https://www.cyberpunk.net/us/en/) is one name that triumphed. It introduces a world that shows the concepts of the sci-fi subgenre, like dystopian cities, technology, and aggressive capitalism. The game's sequel will likely have NFTs. The dark fantasy game [DRKVRS](https://alephzero.org/blog/drkvrs-dark-metaverse-aleph-zero/) is also working on launching NFTs for their community. 

Other notable names include Ghostrunner, [Citizen Sleeper](https://www.fellowtraveller.games/citizen-sleeper), Deus Ex: Mankind Divided, and [The Ascent](https://store.steampowered.com/app/979690/The_Ascent/). These games have directly and indirectly promoted the new genre of NFTs.

## Popular cyberpunk NFT projects

Recently, many NFT projects that share the characteristics of this new genre have entered the marketplaces. [CryptoPunk](https://larvalabs.com/cryptopunks) is one of the oldest ones among them. Though these pixelated NFTs might not look similar to the more recent projects of this genre, the project's fundamentals align. It is a collection of pixelated avatars that could become your identity in the digital world.

[Cyberpunk by Yagatoshi](https://opensea.io/collection/cyberpunk) is another fine example. It introduces excellent art pieces depicting all the features of futurism and advanced tech. You can also check [Blockrunrs](https://opensea.io/collection/blockrunrsnft), which introduces avatars with anime aesthetics. Other noteworthy names include [Cyberpunk Ape Executives GENESIS](https://opensea.io/collection/cyberpunk-apes), Loot, [Cyberpunkz Official](https://opensea.io/collection/fandom-central), and others.

## Closing thoughts

Cyberpunk has recently emerged as a new genre in digital art. The futuristic themes and the AI are the main characteristics of these NFTs. The popularity of sci-fi games and the rising use of advanced computer technology have significantly encouraged this genre. With the increasing popularity, we may experience a rise in cyberpunk NFT projects in the future.


Cyberpunk NFT: A New Genre

GameStop NFT Marketplace is simply described as a non-custodial marketplace built on the Ethereum blockchain, using Loopring, a layer 2 scaling solution, to process transactions. It is a product of GameStop, the world's largest video game retailer.

## History

The GameStop NFT marketplace launched on 11 July, 2022, allowing users to connect their digital wallets, including the GameStop Wallet, to buy, sell, and trade [NFTs](/news/category/nft-news) minted on the platform.

Its wallet was launched in May, even before it went live. It is non-custodial and works as a browser extension for Google Chrome and Brave. Other non-custodial wallets compatible with it include MetaMask and WalletConnect.

Its launch was a great success, resulting in more than 5,000 ETH (almost $7.2 million at the time) in trading volume within the first week. This was more than double the Coinbase all-time trading volume.

The video game retailer built its NFT platform on [Loopring](/news/article/loopring-price-prediction) because of its cheaper transaction fees and scalability. The protocol uses zero-knowledge roll-ups to offer services with cheaper transaction fees and boost scalability.

## Services

Still new in the market, only approved creators can mint non-fungible tokens on it. However, its team is working on adding more functionalities, including categories such as Web3.0 gaming and other Ethereum-based applications.

There are also plans to enable it to support non-fungible tokens from other platforms that live on blockchains it supports.

## How to Use It

### Step 1: Create or connect a wallet

New users have to create or connect a compatible wallet to start using the platform.

### Step 2: Funding

After creating the wallet, it will have to be funded with some [ETH](/coins/eth) to perform any transaction. There are two ways to fund it.

Firstly, users can buy ETH directly from any of the payment providers permitted by the platform. ETH will then be deposited into the user's wallet, allowing them to buy NFTs.

Another way is to transfer ETH from their connected wallet on Ethereum layer 1 to the layer 2 network (Loopring). Because Ethereum layer 1 is involved in the transaction process, users who use this method will incur gas fees.

### Step 3: Buy NFTs

Finally, users can buy their desired NFTs. There is an option to search through the available collections before settling on the one to buy. A "buy now" button will take the user to the checkout window to confirm the transaction.

The platform charges a service fee of 2.25% for every transaction. It also takes a creator royalty fee (in the range of 0-10%, as set by NFT creators). Creators get a royalty fee whenever their NFT is traded on the platform.

## Conclusion

[GameStop](https://nft.gamestop.com/) may still be a new player in the market, but it has already proven it is worth watching. Good things are expected from the platform as it continues to grow and offer more market-competitive services.


GameStop NFT Marketplace

The Adidas NFT collection earned more than $23 million with its first drop of the shoe company's 'one of a kind' Into the Metaverse non-fungible token.

Adidas reported raising $5,924 in Ethereum (ETH) via the sale of the [Adidas NFTs](https://twitter.com/adidas) at 0.2 ETH each, for a total of 30,000 digital assets, just minutes after the drop.

Non-fungible tokens have rapidly evolved from a niche use case in blockchain to a game-changing idea that major corporations are rushing to adopt. In November, the Adidas Twitter profile announced a deal with cryptocurrency exchange [Coinbase](https://www.coinbase.com/) and made a sizable land purchase on [The Sandbox](/news/article/sandbox-games).

Rather than a one-time deal, Bloomberg reports that the Sportswear firm has applied for seven trademarks. This makes sense, as NFTs are a crucial part of the Adidas Metaverse.

## The beginning of Adidas NFT minting

The company's Into the Metaverse series of NFTs began with the announcement of a cooperation with gMoney, [Bored Ape Yacht Club](/news/article/bored-ape-nft), and PUNKS comic before sales even started.

Adidas describes the Metaverse as a space where anyone can express their ideas and be their authentic self, in 'whatever for that may take'. It adds the platform invites 'original thinkers and doers' to join the company for a 'new age of originality'.

Anyone owning one of these NFTs has access to The Sandbox plot, where they can experiment with the merging of real-world and digital goods and locations.

Despite the fact that the auction has concluded, the team has taken to social media to reassure early adopters that the opportunity to acquire tokens is still very much open to them. Also, the Opensea marketplace is still a viable option for people interested in purchasing one.

It's currently perceived by many as the best public exchange allowing for the buying and selling of the Adidas series.


Adidas NFT Brings in $23m with first drop

Many experts claim it is not a good time to invest in Loopring. Will it improve its valuation in the future? What is the Loopring price prediction?

## About Loopring

Loopring is an open-source protocol that aims to build an entire cryptocurrency ecosystem on top of the [Ethereum](/news/article/ethereum-price-prediction) network. It allows exchanges between peers without custodial ownership and there are no restrictions on the transferability of assets within the protocol. It is also possible to have multiple parties hold different types of assets without worrying about custodial control. The protocol has built-in mechanisms that protect against attacks.

Loopring's zkRollup technology is used to speed up trading settlements on the [Loopring](https://loopring.org/#/) protocol. It enables Loopring exchanges to complete key computations rather than settling trades on the Ethereum blockchain itself. When this is used with the blockchain, it makes the trading process faster and cheaper for traders.

## Loopring Background

There are some problems with using blockchains for an exchange in its current form. In particular, you need trust to exchange funds securely. Be it the processing speed or the computing costs, it has become almost impossible to perform every step of an exchange on-chain. Fortunately, after the entry of Loopring, it has moved almost all data and computation off-chain while retaining high transaction throughput and low latency.

The [Loopring project](https://loopring.org/#/protocol) was started in 2017 by Daniel Wang with a vision of building an exchange protocol that supports token trading of all ERC20 tokens. It's the first exchange that focuses on blockchain technology. The primary objective of Loopring is to reduce user dependence on centralized exchanges or any other trusted third parties and enable global liquid markets. They also launched a plan for a similar release with an LRQ token, but the goal was canceled later.

## How Loopring Price Prediction Works

The Loopring price is anticipated to decline by 3-4% in the next few days. The last 30 days saw Loopring recording high price volatility. Based on this information, purchasing Loopring would be unwise at this moment.

If you are willing to take risks and expect a rise in the coming days, you can invest in Loopring. Unlike [Dogecoin](/coins/doge), Loopring could pick up in the future. With Loopring being listed on more cryptocurrency exchanges, we can expect an increase in valuation.


Loopring Price Prediction

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

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

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

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

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

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

## What is an optimistic rollup?

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

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

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

## The Synapse Chain

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

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

## Generalized Cross-Chain Communication

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

## Optimistic Verification

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

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

## Synapse Bridge

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

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

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

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

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

## Synapse Protocol’s Impact

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

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


Synapse Crypto Protocol V2 Explained

Before we look at the LRC price and history, let's look at quantities.

The maximum quantity of [Loopring](https://loopring.org/#/) LRC coins is 1,374,513,896. The circulating quantity of LRC digital coins is 1,329,675,414 units, and the market cap is $1,208,161,143.11. The Loopring DEX has the LRC token, and the remaining tokens will be accessible in circulation. 

Loopring may use Ethereum and Neo blockchains. The hash functions of the underlying blockchain technology, such as SHA256 and RIPEMD160, are used to protect the coin, which is safe from a technological standpoint without losing dependability.

LRC is an open protocol created to build decentralised crypto exchanges. Furthermore, using zero-knowledge proofs can establish a non-custodial, order book-based exchange on the Ethereum network. 

Users own their private keys using the non-custodial exchange, which allows them to keep the crypto and assets secure.
It is believed that a new DeFi system picks many virtual coins, including LRC and its native utility coin. The aim is to facilitate a global network of users to run a platform known for creating and production of different types of crypto-asset exchanges. 

They claim that by using zk-rollups, a layer-two scaling technique, their exchanges can deliver speedier settlements for traders. It also allows blockchains to process transactions more quickly while maintaining low gas fees.

The technology, which uses cryptography (zk-rollups), allows exchanges to build on top of it to avoid the slow speeds and expensive costs associated with decentralised exchanges on ETH, making it easier for dealers to compare the prices of their digital assets. 

Thus, zero-knowledge rollups allow exchanges to do necessary calculations somewhere rather than directly on the Ethereum blockchain. 

Investors can also take advantage of faster speeds and cheaper costs by reducing the number of transactions the exchange can send to the Ethereum network.

On the other hand, other decentralised crypto exchanges need transaction verification on the ETH platform in a few minutes rather than seconds or milliseconds. As a result, it has a considerable edge over other DEX. 

The fundamental value proposition of Loopring is the cutting-edge encryption it includes on its platform. Some proponents feel zk-rollups are promising because they use a well-known type of encryption known as zero-knowledge proofs (ZKP). Instead of providing the facts, ZKP permits a computer programme to claim it. A zero-knowledge proof, for example, may allow a government organisation to verify that the user is of legal age to visit a specific website without giving the actual birthday.

## LRC price - history of Loopring 

Daniel Wang, a software engineer and entrepreneur, formed the Loopring Foundation, which oversees the development of their protocol. Wang is the foundation's founder and current CEO from Shanghai, China.

Wang obtained his degree in computer science from the University of Science and Technology in China. He earned a master's degree in computer science from Arizona State University.

Before joining Loopring, Wang had several senior positions at prominent IT companies. He worked at the medical device firm Boston Scientific as a lead software developer. He also worked at JD.com as senior director of engineering, search, recommendation, and ad system, a Chinese e-commerce company.

Other roles include working at Google as a senior software developer and tech lead. Wang is also a co-founder of many businesses, including Yunrang (Beijing) Information Technology Ltd. and Coinport Technology Ltd., a bitcoin services company. 

The LRC price is now over $0.2707. On 10 November, 2021, the all-time high was $3.83. On the other hand, on 18 December, 2019, the all-time low/minimum LRC price was $0.01986. The daily trading volume is $34,952 million.

## LRC price - staking

•	Anyone can stake LRC to receive a portion of protocol fees. Approximately 70% of the charge is distributed to users who bet LRC. Furthermore, 20% of the fees are given to the DAO (Decentralized Autonomous Organization), with the other 10% burnt.

•	Anybody interested in running a decentralised exchange on Loopring must secure at least 250,000 LRC tokens. They enable the operator to conduct an exchange based on on-chain data proofs. Without this functionality, an operator may require one to stake one million tokens to run an exchange.

## LRC price prediction 2022-2030

The Loopring cryptocurrency forecast today is for a minimum price of $1.23 and a maximum LRC price of $1.54 in 2023. According to our Loopring estimates, the average price for the year will be $1.36. 

Following the Loopring price projection algorithm and technical research, the Loopring minimum price will be about $1.30 in the first half. According to the Loopring forecast, the highest price will be $1.54, with an average Loopring price of roughly $1.34 throughout 2024.

The minimum price of Loopring LRC, according to technical analysis and Loopring estimates, will be $1.61, while the maximum price level will be $2.08. Per our Loopring projections, the average Loopring coin price in 2025 will be $1.86. 

Per the Loopring projection, the minimum price of LRC will be $1.51. According to our long-term forecast, the highest price will be $1.77 while keeping the average price of $1.62 in 2026.

Loopring LRC price forecast and technical analysis indicate that Loopring will trade at an average price of $4.28. Thus, according to our Loopring price forecast, the Loopring [cryptocurrency](/news/article/what-is-market-cap-cryptocurrency) will reach maximum and minimum price levels of $4.41 and $4.12, respectively, in the long term. The Loopring market may increase by 2030. 

Since the RSI indicator has shown an overbought condition, the probable price development might go either way. Thus, traders should utilise swing techniques. According to our Loopring price forecasting, it will be a beneficial investment for years.

Buyers need to know their risk tolerance and how they want to enter the financial markets. As the crypto market is risky and volatile, there is no guarantee of the future. These are the Loopring price forecasts we have made and not financial advice.


LRC Price Analysis

Gemini, a New York-based crypto exchange, has announced that it will offer staking support for its investors, particularly those in Hong Kong, Singapore, and the US.

This means that platform users can participate in [staking rewards](https://www.coindesk.com/learn/crypto-staking-101-what-is-staking/) for MATIC on the Polygon network. It will also roll out support for DOT, SOL, AUDIO, and ETH in the coming months. This move is expected to help bolster Gemini's goal of becoming the world's most trusted and regulated digital asset platform.

It aims to provide greater returns on investment for its users. Several exchanges are looking to add staking services. [This follows Ethereum](/news/article/ethereum-the-merge) 2.0 replacing Proof-of-Work (PoW) with a faster and more energy-efficient Proof-of-Stake (PoS) system on 15 September.

## Gemini staking

Layla Amjadi, Vice President of Product for Gemini, said that "the firm's decision to introduce staking services was driven by investor interest in [the merge](https://www.coindesk.com/learn/what-is-the-merge-and-why-has-it-taken-so-long/)". The VP further told CoinDesk that it has become abundantly clear that Gemini staking is something people are interested in, especially with Ethereum's recent merge.

It provides more liquidity and higher yields, making it a more desirable option. The company will pay for the infrastructure and gas needed to stake and unstake, as well as penalties that might be charged in the process.

## Should you consider Gemini staking?

There are reasons you might want to stake your coins:

•	It's a great way to earn passive income, rather than just holding your coins and waiting for them to appreciate in value.

•	When you stake, you help to secure the network and encourage more people to participate in its governance.

## How to stake coins on Gemini

If you would like to stake your cryptocurrencies on Gemini, you need to do a few things.

•	You'll need to create an account on the platform and verify your identity.

•	Deposit the cryptocurrencies that you want to stake into your account. Once your coins have been deposited, you can begin earning rewards.

The addition of staking services by Gemini comes at a time when more and more exchanges are looking into similar offerings. They include; Binance, Huobi Global, Bitmax, OKEx, Gateio, KuCoin, Coinex, and Bibox.

This increasing competition is likely driven by the recent attractive returns generated by PoS networks. For example, Cosmos' ATOM token holders can earn an annualized return of up to 50%.

Gemini staking support is another example of the exchange's commitment to providing a well-rounded user experience. Offering this service makes it easier for investors to earn a passive income from their digital assets. And with more assets expected to be added, the platform will become one of the go-to exchanges for crypto stakers.


Gemini Staking Support Launches

Neo is an open-source and decentralised smart contract network launched as Antshare in 2014 by Erick Zhang and Da Hongfei. It rebranded to Neo network in 2017, after the launch of its mainnet in 2016.

As a smart contract network, it enables developers to build decentralised applications (dApps) for various uses. It also features other services, including oracles, domain name service, decentralised file storage, and an identity system.

## NeoContract

[NeoContract](https://medium.com/neo-smart-economy/a-deep-dive-into-neovm-neocontract-e470c2c3afb0) is the blockchain’s [smart contract](/news/article/smart-contracts-blockchain) system. It is independent and helps with transaction validation, token sales, and the development of dApps. It consists of;

•	NeoVM: A decentralised virtual machine where smart contracts are executed.

•	NeoContract APIs: Sets of interfaces that enrich smart contracts with practical and powerful functionality.

•	Software Development Kit (SDK): a combination of applications and plugins that ease the development process of smart contracts.

Neo network’s smart contracts stand out because developers do not need to learn a new programming language to create them. Developers can use a variety of common programming languages, including C#, Java, and Python to create the contracts.

## Consensus mechanism

The Neo network is secured by the delegated Byzantine Fault Tolerant (dBFT). This consensus mechanism works more or less like the delegated proof of stake (DPoS).

How it works is that dBFT employs a real-time voting system that determines the nodes to create the next block on the blockchain. Holders of the blockchain’s token stake or lock up a portion of their coins to vote for the consensus nodes that will create blocks and get the block reward.

## Tokens

The blockchain has two native tokens, NEO and GAS. NEO has two uses, with more on the way. Holders can use them to vote for various changes. The tokens can also be used to claim GAS. Staking NEO allows holders to get a portion of the block reward paid in GAS. GAS is used to access the network’s services.

Both tokens have a max supply cap of 100 million coins. According to Coinmarketcap, there are currently [70,538,831](https://coinmarketcap.com/currencies/neo/) NEO coins and [10,128,375 GAS coins](https://coinmarketcap.com/currencies/gas/) in public circulation.

Each NEO coin, as of writing, is worth $8.85 and ranked 65th largest cryptocurrency by market cap. Each GAS coin is worth $2.29 and is ranked the 553rd largest cryptocurrency by market cap. Both coins are available for purchase in many exchanges, including major ones like [Binance](/news/article/binance-staking), KuCoin, and OKX.

Neo offers a lot to its users. Its services, which range from smart contract functionality, oracles, and domain name service, to decentralised file storage, enable it to be a great blockchain-based service provider in the crypto space. With the N3 upgrade on the way, the network is poised to get even better.


Neo Network: China’s Ethereum

The Merge event saw Ethereum upgrade to a Proof-of-Stake (PoS) network. It took place on September 15th, 2022, and came with many benefits, including lowering the blockchain's carbon footprint. 

Before it took place, the highly anticipated event had many within the crypto community concerned about its effect. Many NFT holders were worried about how the upgrade would affect the NFT space, not just its users.

## The Merge NFT impact 

A lot of positive things are to be expected after the Merge. According to the Ethereum Foundation, the update should lower Ethereum's energy consumption by 99%. 

Switching to PoS means the blockchain will no longer rely on energy-intensive mining hardware. Instead, it will depend on validators to validate transactions.

Less energy demand means its users can finally mint and sell NFTs in a sustainable environment. Maintenance cost for NFT projects is expected to reduce significantly. The upgrade might also see more users use the protocol to mint and sell non-fungible tokens.

Many investors had previously avoided using the network due to its negative environmental impact. Blockchains using the [proof-of-work](https://www.forbes.com/advisor/investing/cryptocurrency/proof-of-work/) consensus mechanism have been criticised, especially among environmentalists, for their high energy consumption rate.

In 2021 while still operating as a proof-of-work blockchain, some estimates of Ethereum's annual energy consumption found it to be around 26TWh, which was what Ecuador, a country of 17 million people, consumed a year.

With the network utilising the PoS consensus mechanism, investors who are kept away due to its energy consumption rate have no reason to do so.

## Pre-Merge Support

Several NFT projects had declared support for the upgrade even before the Merge. OpenSea, the largest NFT marketplace, said it would only support the PoS blockchain after the update. 

Not all ETH holders supported the update. Several network participants wanted the blockchain to remain a proof-of-work blockchain. There were concerns about hard forks that could lead to duplicate NFTs. OpenSea maintained it would not support any fork after the upgrade.

Yuga Labs and Proof also declared support for the upgrade. Proof also said it would not support or recognise any fork made post-merge. Yuga Labs is the creator of the famous Bored Ape Yacht Club, while Proof is responsible for the valuable Moonbirds project.

The projects' stand on the update helped clear a lot of confusion that would have arisen after the network upgrade, considering the possible rise of forks.

Ethereum's transition to a PoS blockchain enables it to make up where Solana and Polygon outshone it. The blockchains had staking as an advantage over Ethereum. 

However, with the update, the blockchain has one less thing to work on (high gas fees) to continue to dominate the NFT space. 
 


The Ethereum Merge impact on NFTs

Etheremine, Ethereum’s largest mining service provider by computing power, switched off its servers on September 15th, 2022, after Ethereum transitioned from a proof of work to a proof of stake consensus mechanism.

The mining service has been in operation for seven years and mined 3,271,518 blocks and 9,836,656 Ether, announced on its Twitter page and [official website](https://ethermine.org/announcement). Its users would no longer be able to connect their miners to the Ethereum pool.

## The Merge

Ethereum’s transition to [proof of stake (PoS)](/news/article/pos-vs-pow), dubbed the [Merge](/news/article/ethereum-the-merge), was a highly anticipated event that had been in the works for a while. The Merge replaced miners with validators. The network now relies on validators to validate transactions and security.
Before the Merge, Ether mining had developed into a multi-billion industry. More than a million people across the globe with mining equipment worth over $10 billion had at a particular time mined Ether.

The process involved miners competing to solve complex mathematical problems to earn the block rewards. Only the first miner to solve the computational problems got the rewards. 

The need for expensive mining hardware and more computational power grew as the process became more competitive. It is this need that led to the existence of mining pools like Etheremine. 

The service aggregates computing power from a group of miners to increase the probability of winning Ether. The reward would then be distributed among miners based on their contribution. The pools charged some fees for their services.

## Staking Service

In anticipation of the Merge, in August 2022, Etheremine launched a staking pool for its users. The new service offered via BitFly enabled users to stake their Ether and earn interest on their deposits. 

Unlike other platforms, Ethermine allows users to invest as little as 0.1ETH and earn yields for lending. However, in terms of the service fees, the lower a user’s holding, the higher the fees.

The platform allows those who wish to participate in ETH staking and earn but don’t have the required 32ETH. 

Before its [Ethermine Staking](https://staking.ethermine.org/) service, the platform debuted [Ethpool](https://ethpool.org/), a solo staking platform that requires users to have at least 32ETH. At the time of writing, the platform has 469 validators and guarantees 5.5% APR.

It is worth noting that those who participate in ETH staking will not be able to withdraw their earnings until the Shanghai Upgrade, another major upgrade to the Ether network. However, a precise date for the Shanghai upgrade is yet to be determined.

Also, the Merge, though a highly anticipated event, was not a welcomed network upgrade for all ETH holders. A few coin holders wished to continue using the network as a proof of work mechanism. Ethermine has no plans to support the planned PoW forks.

Although the Ethereum network has stopped mining, users can continue to use the platform’s other affiliated servers to mine Ergo (ERGO), Ethereum Classic (ETC), Beam (BEAM, and Ravencoin (RVN).



Ethermine switches off servers after Ethereum Merge

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

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

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

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

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

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

•	Navigate to 'Manage Delegations'

•	Choose 'Select a collator.'

•	Select a collator and click stake

•	Ensure there is a minimum bond for each collator

## How to choose a collator for Moonriver staking? 

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

## Important things to note:

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

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

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

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

## How much can users earn from Moonriver staking? 

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

## Are there risks to Moonriver staking?  

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




How Moonriver staking works

Although NFTs have existed for five years, the nonfungible token boom didn't start until 2021. It happened at the same time as the debut of the [Bored Ape Yacht Club](https://boredapeyachtclub.com/#/), a collection of 10,000 Lazy Ape NFTs featuring cartoon monkeys that have come to represent the entire industry. The past year has seen BAYC develop into a bellwether for NFTs, much like bitcoin is for the overall crypto market.

## What are Lazy Monkey NFTs?

Yuga Labs' Lazy Ape is an NFT collection built on the Ethereum (ETH) blockchain. Each NFT is known as an Ape.

These digital artworks depict bored simians. They all have a similar appearance and feel, but each monkey has a unique combination of facial expressions, accessories, and outfits, so no two are alike.

This combination of features—or the relative rarity of each variety—could be the driving force behind the Lazy Apes' popularity. "Rarity" is a formal measure of each Ape's uniqueness in the BAYC community.

## What makes Lazy Monkey NFTs so expensive?

1. Utility
Lazy Ape is valuable not only because it serves as a digital identity but also because it comes with commercial usage rights. Lazy monkey NFT owners can not only resell the NFT for a profit but also sell spinoff products based on the art.

One Bored Ape owner created a Twitter account for his Ape and created an entire backstory in which the Ape is Jenkins, a valet at the Yacht Club. Jenkins is personable, crypto-savvy, and tells incredible stories—the ideal combination for a successful Twitter account.
Jenkins' story is enhanced by the fact that he was the cheapest Ape in the collection, which influenced his character as a valet. People are drawn to the classic "underdog rise" story on a basic level.

 2. Limited supply
Basic economics: because there are only 10,000 Bored Apes, the supply of NFT art is quite limited. With the brand's massive popularity, we have a high-demand/low-supply dynamic that will inevitably drive prices up.

Furthermore, some Bored Ape avatars in the same collection are rarer than others. Each monkey is a unique, randomly generated combination of 170 characteristics such as background colour, earrings, expression, headwear, clothing, etc. This derived scarcity also contributes to some Bored Apes' high prices.

3. Celebrity Support
Celebrities nowadays are showing immense interest and support for Lazy Apes. BAYC NFT is owned by Jimmy Fallon, Post Malone, Mark Cuban, Paris Hilton, Stephen Curry, [Snoop Dogg, Eminem](/news/article/snoop-dogg-nft-song), and Shaquille O'Neal. It's also common knowledge that involving celebrities in anything can increase interest—and prices.

Because of the significant celebrity involvement, [Bored Apes](/news/article/how-to-buy-monkey-nft) have become a status symbol — similar to a digital Veblen good — the higher the price, the more people want 
one.

 4. Unique content
BAYC provides Lazy Ape holders with exclusive content benefits, some of which are detailed in the roadmap on the BAYC website. The roadmap is a to-do list that the founders intend to cross off when they reach their sales percentage targets.

5. Early entry to the NFT world
[While Bored Apes NFT](/news/article/bored-ape-nft) is not the first among NFT collections, they are one of the few available. Not to overlook the novelty, but it does contribute to the movement's success. For example, CryptoPunks are valuable because they are the first NFT collection.

 BAYC acquired Cryptopunks in early March 2022, significantly reducing competition and establishing their position as forerunners of the NFT-community movement. BAYC intends to grant CryptoPunks owners intellectual property and commercialization rights, as they have with Bored Ape owners. This will inevitably increase demand, resulting in a price increase.



Why are lazy monkey NFTs so expensive?

NFTs are quickly becoming one of the most in-demand and innovative forms of digital asset ownership. The Moonboys NFT has recently gained a lot of attention. This blog will discuss what makes these particular NFTs unique.

## What is the Moonboys NFT?

Moonboys NFTs are built on the Ethereum Blockchain with a total supply of 11,111 ERC-721 tokens. Each token is distinctive and 3D designed, including great utilities and full membership to a growing community.

These are the most in-demand and innovative NFTs you can find on the Ethereum blockchain. With its 3D-designed graphics and full membership, it is one of the most sought-after tokens in the crypto world.

## How can you buy Moonboys?

If you're interested in getting your hands on a Moonboys NFT, you'll need to head to the [OpenSea](/news/tag/opensea/2) website. You need to know that there is a 5% creator fee. The total sales volume has been around 1.5K Ethereum tokens with 33% unique owners. 

Currently, 11.110 are stored in 3383 different wallets. The largest whale holds 344 Moonboys (approximately 3% of the available supply).
What are some community utilities that come with owning a Moonboys NFT?

When you buy these NFTs, you're not just getting a unique collectable item. You're also joining a community of fans with access to great utilities.

For starters, each [NFT](/news/category/nft-news) holder has a full membership to the official community and channels. Also, there is a special business club provision for the holders. The Business Club offers physical and online conferences for participants who wish to expand their connections and improve their Web3 expertise. You'll find everything from the latest news and updates to fan artwork and discussions.

You will receive a membership to a selected community as soon as you become a holder. Top participants in the [NFT](/news/article/free-nfts) and crypto worlds are present in the community. Being a member of this club gives you access to live events and the chance to interact virtually with influential people.

The official website is also the place to go for all your needs. Here you can buy merch which is coming real soon and more. Also, the NFT creators announced that a contest amongst interested participants would be held to win a ticket for a commercial flight aboard Blue Origin in 2024.

Additionally, owners may stake or burn their Moonboys. They will get $DARK as a result, which they may use to modify their NFTs. Given that this will make users' NFTs more distinctive and the platform is set to attract collaborations from famous NFT musicians, an increase in the value of Moonboys is forecasted.

## Bottom line

When it comes to Moonboys, they appear to be a promising community with a solid roadmap. These innovative NFTs are in high demand, and with good reason. They're unique and come with a ton of membership perks and utilities.

Owning one is a great way to be a part of an ever-growing community and enjoy fantastic bonuses and features.




Moonboys NFT: The NFT with an exciting roadmap

The much-anticipated upgrade to Ethereum, the merge, was completed on [September 15](/news/article/ethereum-merge-date). It transformed the blockchain’s Proof-of-work (PoW) mechanism into Proof-of-Stake (PoS). The market experts were optimistic that this upgrade would positively influence the Ether price. However, it has not been the case as the [Ethereum](https://ethereum.org/en/) price is continually plunging after the merger. 

Perhaps, the reason could be the overall downturn of the crypto market. Bitcoin is also struggling to maintain a price of over $20K. Besides, its worth even dropped under $19K this month. This has affected the entire crypto market, including Ether. Nonetheless, there are several other triggers, too.

## Ether’s nosedive after the merge

ETH was steadily thriving in the last three months when the BTC price struggled to hold its ground. In comparison to BTC, ETH saw a surge of around 60%. However, after the Ethereum merge, it [dropped](https://www.benzinga.com/markets/cryptocurrency/22/09/28917798/bitcoin-ethereum-nose-dive-445m-liquidated-from-crypto-market) significantly. 

Five days before the upgrade, Ether’s price was approaching $1,800. Even up to September 14, Ether was trading at over $1,600. But as it completed the upgrade, it lost over $300 in value. It saw a drop of almost 21% in the last seven days, showing worrying signs for Ethereum investors.

## Ether’s nosedive after the merge

ETH was steadily thriving in the last three months when the BTC price was struggling to hold its ground. In comparison to BTC, ETH saw a surge of around 60%. However, after the Ethereum merge, it [dropped](https://www.benzinga.com/markets/cryptocurrency/22/09/28917798/bitcoin-ethereum-nose-dive-445m-liquidated-from-crypto-market) significantly. 

Five days before the upgrade, Ether’s price was approaching $1,800. Even till September 14, Ether was being traded at over $1,600. But as it completed the upgrade, it lost over $300 in value. Besides, in the last 7 days, it saw a drop of almost 21%. This shows worrying signs for the Ethereum investors.

![ethereum merge.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/ethereum_merge_0d3a08eff4.png)

## Ethereum the merge: Investor sentiment 

Disappointing US economic indicators such as high inflation, looming imminent [securities regulation that may apply to Ether staking](/news/article/ether-staking), and a market downturn have negatively affected crypto investor sentiment. After the completion of the Ethereum 2.0 upgrade, the selling pressure increased. Many investors chose to liquidate their funds while the price was high to protect themselves from potential losses. 

Even after this event, ETH investment products saw tremendous outflows. Ether threw up $15.4 million in outflows. However, this was not a market-wide trend, as BTC saw an addition of around $17.4 million in investment in the same period. Time will tell if the Ethereum price has been merely affected by hawkish sentiment or if the Merge is not worth the hype.



Ethereum the Merge: Price plunge & investor sentiment

Ether can be wrapped in several ERC standards. However, wETH (Wrapped Ether) generally refers to Ether's version compatible with the ERC-20 standard.

Originally, Ether was not compatible with the ERC-20 standard. Being the currency of the [Ethereum blockchain](/news/article/eth-to-gbp), Ether was created before the implementation of ERC-20 and several other standards.

The creation of wETH resulted in some peculiarities, and unique use cases, among several other benefits we'll look at.

## What is wETH?

Wrapped Ether(wETH) is created by transferring Ether to a dedicated smart contract, which places the currency on hold while outputting wETH ERC-20 tokens. The exchange of the ETH for wETH occurs at a 1:1 ratio and can be reversed easily in a process called 'unwrapping' at the same ratio.

Thanks to wETH, developers don't have to create systems for two tokens – Ether and ERC-20s. By wrapping Ether, unnecessary complexities are eliminated from smart contract interfaces.

Furthermore, [since a smart contract](https://www.simplilearn.com/tutorials/blockchain-tutorial/what-is-smart-contract) handles the wrapping, there's no need for trusted third parties or the risk of errors. The protocol has found significant use cases in many Ethereum-based dApps (decentralized applications).

## Understanding The wETH Protocol

The sound protocol facilitating the creation of wETH makes it highly secure and foolproof. Beyond eliminating complexities, the wrapped token allows seamless interactions within the same technical standard. Hence, wETH finds use in highly advanced interactions on Defi applications.

The wrapping Smart Contract locks up ETH within it to maintain a concrete reserve backing the wETH output if the ratio of ETH to wETH shifts from 1:1, some of the latter will be burned when it's being unwrapped.

Both the wrapping and unwrapping processes occur at no additional costs – all you have to pay are transaction fees. Also, since wETH can be easily created and exchanged on platforms like UniSwap, [MetaMask](/news/article/what-is-metamask), etc., it has found some incredible use cases.

## The use cases of wETH

Because the ERC20 standard premises numerous dApps, wETH has been used for several cases. Here are some of the popular uses of wETH:

## Trading

You can easily trade wETH for ERC20 tokens on decentralized exchanges. Though there's a slight restriction here – the trade is only possible on decentralized exchanges supporting ERC20 tokens.

## Payment

The blockchain and cryptocurrency ecosystems have redefined the global financial system. A prime example of this is the use of wETH for payments. Supporting dApps allow using wETH to pay for transaction fees and other services.

Furthermore, since wETH is at a 1:1 ratio with ETH, users don't incur extra charges during such transactions.

## Collateral

Decentralized lending platforms allow using wETH as collateral. This is good news for users who don't want to sell their ETH.

## Investment

Like other cryptos, wETH can be used for investment. The 1:1 ratio at which wETH is pegged accounts for the favourable investment opportunity it is. This is because of the value of wETH, which increases in direct proportion to ETH. Hence, wETH is an excellent investment opportunity if you see potential in ETH.

## What are the benefits of wETH?

Created by Will Warren, the co-founder and CEO of Ox Labs, wETH has several advantages. Here are some benefits of wETH:

## Interoperability

Despite wrapping Ether to create wETH, it doesn't lose its interoperability. wETH has interoperability capabilities with other ERC-20 tokens. Hence, you don't have to worry about compatibility and collaboration issues.

wETH makes it possible for decentralized applications to reach a higher level of interoperability. This comes in handy as applications and platforms are aiming for an increased level of collaboration. Furthermore, integration with other blockchains progresses seamlessly.

## Liquidity

wETH is created by a custodian smart contract that ensures stability in its value. Hence, it enjoys increased liquidity than other native tokens. Thanks to the custodian contract, wETH can easily be converted to ETH, which makes it a really attractive asset class to stakeholders.

## Security

Enhanced security is the standard with wETH since its custodians exclusively transact over secure exchanges. Furthermore, there's a reduced risk of users losing their cryptocurrencies since the custodian secures the private keys in a safe location.

## Speed And Lower Transaction Fees

Transactions with wETH also proceed fast and at lower fees against unwrapped ETH.

The Ethereum blockchain is one of the oldest and most developed ecosystems for dApps. This makes wETH an essential token since it facilitates easy usage of different DeFi apps without compatibility issues. Now is the best time if you haven't started using wrapped ETH.



What is wETH, its protocol, use cases, and benefits?

The long-awaited [Ethereum merge](/news/article/ethereum-merge-date) has transformed the blockchain into Proof-of-Stake (PoS). On Thursday, the upgrade was completed, which was welcomed by crypto investors all around the globe. 

Gary Gensler, the chair of the [Securities and Exchange Commission (SEC)](https://www.sec.gov/), has also followed the developments. He hinted that Ethereum might be considered security after the upgrade. Gensler also warned that the securities laws might also apply to Ether staking. He shared his points while speaking to the media after testifying before the Senate Committee. 

## Ether staking could trigger securities laws

According to the SEC chair, any digital coin or intermediary that investors can ‘stake’ will be identified as ‘security’ through the Howey Test. The Wall Street Journal [reported](https://www.wsj.com/articles/ethers-new-staking-model-could-draw-sec-attention-11663266224) that Gensler remarked, “From the coin’s perspective … that’s another indicia that under the Howey test, the investing public is anticipating profits based on the efforts of others.”

Though the chair has not mentioned any particular cryptocurrency, the remarks were made the same day as the Ethereum Merger. Many speculate that he was referring to Ether staking as its consensus mechanism has changed from Proof-of-Work to [Proof-of-Stake](/news/article/pos-vs-pow).

Gary Gensler also explained that staking is quite similar to lending. About this, his comments were, “[it] looks very similar—with some changes of labelling—to lending.”  

## SEC stance on securities

A security asset generally includes bonds and stocks. The service providers related to this type of assets in the United States must disclose them per the defined securities laws of the 1930s. That’s why any crypto exchange or brokerage also has to comply with these laws. If any asset is deemed a security, regulators might take legal action against the service provider. 

Previously, the regulating body has charged several firms for violating [securities laws](https://www.history.com/topics/us-government/securities-and-exchange-commission). The [SEC vs Ripple labs](/news/article/xrp-court-case-update) is a highly anticipated lawsuit in the crypto space. 

The regulators deemed the XRP token as a security and charged the firm for irregularities. 

The conclusion of this case might affect several other tokens too. The regulators also penalised BlockFi with a $100 million fine as it failed to register its interest accounts. 



Securities laws may apply to Ether staking, warns SEC

The Raiden Network token (RDN) is the native token of the Raiden Network, an off-chain scaling solution for the Ethereum blockchain. It is similar to Bitcoin's Lightning Network. It allows users to initiate fast and low-cost transactions.

## The network

The Raiden Network, unlike the Ethereum blockchain, does not require consensus for its operations. It instead uses digital signatures, and hash-locks called balance proofs to enable token transfers between network participants.

The protocol has a few advantages that make it a worthwhile project.

•	Instant transfers: users can instantaneously send, receive and confirm token transfers. Token transfers are as fast as sending text messages.

•	Low transaction fees: Transaction fees are pretty low. Low transaction fees allow users easily transfer small amounts of ERC20-based tokens.

•	Increased privacy: compared to the Ethereum blockchain, the Raiden protocol provides better privacy levels.

## The token

RDN coins are ERC20 cryptocurrencies used to pay for various services in the Raiden protocol. They can be used for access to micropayments and API (Application Programming Interface). They are also a reward incentive used to reward users for contributing to the protocol.

The tokens were launched on October 18th, 2017. Only 100,000,000 of them will ever exist. As of writing, 66,793,931 RDNs are in public circulation.

According to [Coinmarketcap](https://coinmarketcap.com/currencies/raiden-network-token/), each Raiden Network token is currently worth $0.06096. They are ranked 1,005th largest cryptocurrencies by market cap. RDN is available on several exchanges, including Gate.io, Bancor Network, Tokenmy, and CoinDCX.

It is worth noting that RDNs can't be bought directly with fiat money. To buy them, you'll first have to buy other cryptocurrencies like ETH or BTC from a fiat-to-crypto exchange. Once you have your ETH or BTC, you'll go to an exchange that lists RDNs and use your ETH or BTC to buy them.

As they are ERC20 tokens, you can store them in any ERC20-compatible wallet, including MetaMask, MyEtherWallet, Trezor, or Ledger.

## Price prediction

RDN coins are currently experiencing a bear run. However, several crypto prediction platforms believe they are worth holding.

Priceprediction.net predicts they may trade at an average price of $0.12 in 2023, $0.17 in 2024, and $0.23 in 2025. If you hold on to them for longer, the site predicts they may trade above $1 in 2029 and above $2 in 2031.

Digitalcoinprice is not as positive as Priceprediction.net, but it does predict some slight positive price appreciation. According to the site, the cryptocurrency might trade at an average price of $0.0870 in 2023, $0.0906 in 2024, and $0.11 in 2025. 

## Bottom line

Overall, the RDN project looks like a promising solution to the scalability issues faced by Ethereum and other [cryptocurrencies](/trade). At the same time, most investors agree that RDN is worth considering as a long-term investment option. Before you spend any of your hard-earned money on this cryptocurrency, do your research. All information shared here is the author's opinion and should not be perceived as financial advice.




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