The Middle East, Africa & Asia Crypto & Blockchain Association (MEAACBA) officially [launched](https://meaacba.org/new-crypto-and-blockchain-association-launched-in-abu-dhabi/) on November 8 in the Abu Dhabi Global Market (ADGM), a free economic zone based in the city's centre subject to its own set of civil and commercial laws. The zone was designed to further the growth of fintech companies in the United Arab Emirates (UAE).

According to its website, the nonprofit will aim to facilitate regulatory solutions, create commercial opportunities, and invest in education to support industry growth.

## How did the Middle East, Africa and Asia Blockchain Association come about?

The association will be led by board chairman Jehanzeb Awan, founder of an international risk and compliance consulting firm headquartered in Dubai.

Other supporting the association include Binance's regional head of Middle East and North Africa (MENA), Richard Teng, Crypto.com's general manager of Middle East and Africa, Stuart Isted, and Ola Doudin, the CEO of BitOasis, a cryptocurrency exchange in the region.

Awan said he hopes the organisation will bring a collaborative and community-based approach to further industry growth in the MENA region and "create wide-reaching benefits for this highly dynamic and exciting space."

"The industry will benefit from the Association as it provides a coordination mechanism between regulators, government agencies, banks, legal, tax, and advisory firms to address the most pressing challenges," he added.

ADGM's chairman Ahmed Jasim Al Zaabi, also stated that MEAACBA's addition would contribute to a much more "progressive financial sector" in the region.

MEAACBA's launch comes as the Financial Services Regulatory Authority (FSRA) — the financial regulator of ADGM's free economic zone — published a set of "Guiding Principles" on its approach to [navigating the regulatory complexities](https://cointelegraph.com/news/abu-dhabi-regulator-introduces-guiding-principles-for-crypto) by the digital asset industry in September.

The principles are said to be "crypto-friendly" while still complying with some of the strict international standards on Anti-Money Laundering (AML) and [Counter-Terrorism Financing (CFT)](https://cointelegraph.com/news/tech-savvy-terrorists-are-using-crypto-to-finance-their-horrible-deeds-un-official) by the United Nations.

## MENA-The fastest-growing crypto market

According to a recent study, the MENA region is also the [fastest-growing cryptocurrency market](https://cointelegraph.com/news/middle-east-and-north-africa-are-fastest-growing-crypto-markets-data) in the world. During 12 months from July 2021 and June 2022, transaction volume in MENA reached $566 billion, an increase of 48% from the previous 12 months.

The use case for cryptocurrencies in many of these emerging markets has come in the form of savings preservation and remittance payments to counter the effects of inflation in volatile economies.



Middle East, Africa and Asia Blockchain Association launch

According to news from Pi Coin's inventor and head of technology, Nicolas Kokkalis, Pi Network "has tried to make cryptocurrency accessible globally". Pi Network is the cryptocurrency community for PI, the Pi Coin, often known as Pioneers. 

PI, according to Kokkalis, allows Pioneers to mine on their phones with no fiat cost while contributing to development, inclusiveness, security and decentralisation, usefulness, stability, and durability.

## Pi Network news: Pioneers warned 

Pi informed pioneers that Pi Coin will have no initial coin offering or crowdfunding sales. This is because the main goal is to "create the most inclusive and broadly dispersed digital currency and ecosystem for all Pioneers"'

It clarified that it is not associated with any organisation purporting to sell or generate PI, PI futures, PI non-fungible tokens, PI airdrops, or other PI derivatives. The [blog](https://minepi.com/blog/pi-account-safety) further informs Pioneers that any website asking them to claim PI is a scam since users can only claim all mined PI through the official Pi Network app.

It continued by saying that the names do not imply an official affiliation with Pi Network. Unless otherwise clearly verified by their official communication channels.

## Pi Network: How to mine Pi Coin

[Pi Network](https://twitter.com/PiCoreTeam/status/1555674682480680960), the Pi Coin (PI) crypto community, has produced an instructive video on how to build and utilise the Pi Wallet. 

The movie, which is now on Pi's [home screen](https://minepi.com/), explains how mining works. Unlike Bitcoin (BTC), PI is the only [cryptocurrency](/news/article/asian-yuan-china-token) that can be mined with a smartphone. Furthermore, the video claims that mining PI with a user's phone is free of charge and causes no battery drain.

## Pi Network news: Where does PI rank? 

According to [Watcher. Guru data](https://twitter.com/PiCoreTeam/status/1564349423215190016), as of 28 August, 2022, Binance Coin (BNB) ranked #1 among the top ten cryptos' Twitter profiles, with 9.36 million followers. Bitcoin (BTC) came in second with 5.49 million followers, while Shiba Inu (SHIB) came in third with 3.46 million followers. Pi Coin (PI) is the ninth most followed cryptocurrency on Twitter, with 1.65 million followers. 

Pi conducted a [Twitter](https://twitter.com/PiCoreTeam/status/1559317083309035520) poll, and 61% of Pioneers, or Pi members, were recommended to it by a friend. Family members came in second with 17%, and coworkers came in third with 4%. However, 18% said “other." A total of 54,722 people voted in the Twitter poll.

Pi Network, the [crypto](/news/article/time-tokens) community for Pi Coin, has expressed gratitude to its Pi Chat moderators for their assistance in translating Pi messages into more than 50 different languages. The moderators are the "backbone of communicating with the whole Pi community".


Pi Network News: Pi Going Global?

The credit card giant [Mastercard](/news/article/crypto-trading-services-mastercard) has been running an accelerator program for startups since 2014. It has recently announced that this year, applications from 7 FinTech startups have been accepted for [Mastercard Start Path](https://startpath.mastercard.com/spglobal/home.html). The firm intends to promote innovation in blockchain, FinTech, and the web3 space with this move.

The upcoming cohort of firms that have joined the program is quite diversified. They are from four countries: the United States, Singapore, United Arab Emirates, and Colombia.  

## Blockchain companies accepted in Mastercard Start Path

There are a few known names among the companies that will be joining the program. One of them is Abu Dhabi-based [Fasset](https://fasset.com/), which is a digital asset gateway service provider. 

The credit card company, previously, has also worked with it to provide digital solutions in Indonesia. Another firm from the UAE is Take Back the Mic ([TBTM Studios](https://tbtm.app/)). It allows entertainment platforms to leverage blockchain technology.

There are three companies from the US: [Loot Bolt](https://lootbolt.com/), [Uptop](https://www.uptop.xyz/), and Quadrata. Loot Bolt provides services related to web3-based payment systems. Uptop offers a platform for brands to manage their customer relations, and [Quadrata](https://quadrata.com/) allows blockchain-based solutions for preserving privacy.

From Singapore, the [Digital Treasures Center (DTC)](https://dtcpayment.com/) will be part of the program. And from Colombia, [Stable](https://www.stable-app.com/), a stablecoin startup, is accepted. 

## What’s the goal of Start Path?

Start Path was launched in 2014 to help startups get the initial funds and expand. It is a yearly program that lasts for six months. So far, this initiative has boosted the performance of over 350 firms, some of which have also reached unicorn status. 

Last year, Mastercard decided to launch a crypto division for this program. It was to support web3 and [crypto projects](/news/article/crypto-app-mastercard-nft) by investing in them. It helps companies build a community of developers and bring more innovation to the industry. 

However, this credit card corporation is not the first to take such an initiative. Many corporations like [Binance](/news/article/guide-to-binance-uk), [Disney](/news/article/matic-disney-collab), and others also run accelerator programs. 




7 FinTech startups joined Mastercard Start Path

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

## How blockchain IDs could be helpful to Korean Citizens

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

## Plan for the implementation of digital IDs in Korea

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

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

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

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

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

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



Blockchain IDs to be Given to Koreans

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

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

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

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

## Key takeaways under Near protocol

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

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

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

## How does the Near protocol achieve this?

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

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

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

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

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

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

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

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



Near Protocol: What it is and how it works

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

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

## How will Polygonscan assist?

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

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

•	Daily transactions

•	Unique addresses

•	Average block size

•	Average gas price

•	Daily gas used 

•	Daily active ERC-20 addresses

•	Validators

•	Contract verification

•	ABI verification.

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

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

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

1.     Sign in to your online crypto account.

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

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

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

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



An ultimate guide to Polygonscan

Telcoin is a blockchain-based, user-owned financial platform that aims to provide all mobile users with access to high-quality but affordable, user-owned financial products. Its primary focus is, however, on the remittance industry.

The platform's components include the TEL token, Telcoin App, TELx, and Rivendell - an Ethereum side chain validated by the Mobile Network Operators, a GSMA member.

## The TEL token

The TEL token is the native token of the platform, and it plays various functions in the [Telcoin](https://www.telco.in/) ecosystem. 
It is a protocol token that can also be used as a medium of exchange and a reserve asset. Its holders can use it to access different financial products supported by the platform.

It's an ERC-20 token with a max supply cap of 100,000,000,000 TEL coins. Currently, there are 61,728,700,558 coins in public circulation.

According to Coinmarketcap, as of writing, each coin goes for the price of $0.001824. The tokens are ranked the 252nd largest cryptocurrencies in the world by market cap.

The TEL tokens are available on several crypto exchanges, including KuCoin, Uniswap, Phemex, and Balancer. The tokens can, however, not be purchased directly with fiat currency. 

You'll first have to buy other crypto coins like [BTC](/coins/btc), or [ETH](/coins/eth), then go to an exchange that lists TEL tokens and use your ETH or BTC to purchase them.

## The app

The [Telcoin App](https://www.telco.in/about-the-telcoin-app) provides users with access to all of Telcoin's products. The app features a fast, affordable remittance portal and a digital wallet on the Polygon Network.

Users can use the app to send, receive, withdraw, and trade various supported digital assets at an affordable fee. Those who wish to send money to friends and family anywhere on the globe can do so through the app at a friendly fee of 2% or less. 

The app currently supports fiat remittance from Canada and the USA to 16 countries, including Bangladesh, Ethiopia, Salvador, Indonesia, Kenya, and Pakistan. It is available for download on Google Play and the App Store.

## TELx

[TELx](https://www.telx.network/) is the decentralized liquidity engine of the Telcoin platform. It's designed to power all services provided on the Telcom platform, including cross-border money transfer and digital asset exchange, without relying on intermediaries. 

The decentralized liquidity network is a new addition to the platform. It launched with two user-owned decentralized products, The SMS network and TELxchange.

The SMS (Send Money Smarter Network) is a user-owned global remittance network, while the TELxchange is a user-owned decentralized digital asset exchange. 

## Rivendell

[Rivendell](https://www.rivendell.network/) is still in development. The Network, an Ethereum side chain, is run, validated, and secured by Mobile Network Operators. Once in operation, it will provide fast, secure, credible neutral transaction settlement for the Telcoin ecosystem.

## Is Telcoin a good investment?

Launched in 2017, Telcoin has been around for a while. So far, the team behind the project has managed to meet all the deadlines set on the project's roadmap.

Since its launch, it has made several strategic partnerships with Telcom operators that have enabled it to solve three major issues facing many crypto projects trust, reach, and Know-Your-Customer (KYC) compliance. The project is here to stay.

Its native token (TEL) continues to perform averagely well in the crypto market. However, the token is not listed on most prominent cryptocurrency exchanges, their trading pairs are limited, and they can't be bought directly with fiat money, which inconveniences many investors.

## Bottom line

The Telcoin platform is an excellent addition to the crypto space considering its features and services. The current Telcoin price provides a good entry point into the crypto space for anyone who doesn't wish to spend or risk a lot in the highly volatile market.



The Telcoin platform and price explained

For those unfamiliar with the NFT industry, the abundance of NFT aggregator options can be overwhelming. 

Icytools's goal is to streamline processes by giving essential data to those who need it immediately and a premium service to those who need to dig a little deeper. So, how do Icytools compare to the other options out there? Let's find out.

## Why would you want to use Icytools?

Icytools is fantastic for tracking the current floor prices, volume, and average sales prices of Ethereum NFT collections and recognising emerging trends. Because of its easy-to-understand data visualisation, the analytics platform is an excellent starting point for newcomers looking to understand the market.

A great place to begin exploring [the NFT market](/news/article/refinable-crypto-explained), Icytools takes a streamlined approach that should please all but the most data-hungry consumers. Although the platform solely supports Ethereum NFTs at the moment, multi-chain functionality is in the works.

Icytools' layout and presentation of information may seem bare at first glance, but this is on purpose, as the app's designed with simplicity and clarity. The design puts the focus squarely on the user and avoids overwhelming them with unnecessary data visualisations.

Users of Icytools can look up portfolio balances for any wallet address, view transaction histories, learn about emerging NFT trends, and more. 

Connecting your wallet gives you access to these primary datasets, but if you want access to more in-depth statistics and analytics, you'll have to pay for the premium version. If you want to learn more about a particular NFT collection, you may do so by clicking on it and gaining access to a range of information, including floor price charts, recent activity, holdings, and more.

Along with the standard data set on the NFT market and collections, it also provides a calendar for tracking upcoming events and an API for programmers.

## Where can I find Icytools?

Go to the [Icytools website](https://icy.tools/), where a "trending" dashboard will greet you.

Icytools' free products are great for novices, but seasoned NFT traders might consider upgrading to the premium plan to access the below features:

• Collecting data in real-time and analysing it retrospectively.

• Contract or wallet-based alerts for floor, mint, and sales.

• Filter by whales and other tags in real-time feeds you create yourself.

• Personalised favourite trackers for easy monitoring.  

Icytools combine three essential functions for users new to NFT investing: monitoring your holdings, analysing the market, and discovering new mints. It's easy to start with the collections, and its clean design makes novice users feel at home.

If you're interested in quickly tracking NFT trends and gaining insight into the performance of your collections, the premium option is worth considering. It strikes a good balance between the simplicity of aggregators aimed at complete newcomers and the power and breadth of tools like Nansen, which are aimed at pros and covers the whole spectrum of the Web 3.0.

Naturally, its full capabilities are only available with a paid subscription. Still, individuals who find they need more than the free edition can try out Icytools for a month to determine if the additional datasets are worth the cost.



Icytools: the ultimate NFT analytics platform

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

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

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

## Consensus model

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

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

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

## Nyzo price

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

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

## Is Nyzo a worthy investment?

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



The ultimate Nyzo blockchain ecosystem guide

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

## 7 core investment areas

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

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

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

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


Invesco launches $30M Metaverse fund

An upcoming blockchain technology project, [Block Busters](https://bbtftoken.com/), has been making rounds lately. Reportedly, the company is about to launch its token on 05 August 2022. A few Safemoon investors started the project to help firms transition from web 2.0 to web 3.0. The project is a liquidity injection protocol that allows businesses through tokenization. 

For the last eight days, the project has been trending on Twitter with #BlockBustersTech and is making waves in the DeFi space. The unique thing about its hype is that the project did not have a prior reputation. However, it recently carried out a successful presale for the BBTF token and is now looking forward to the ‘big launch. 

## How does the Block Busters protocol function?

Block Busters claim to have a complex and innovative protocol functioning that makes [web 3.0](/articles/learn-moni/web-3.0-crypto) transitioning relatively straightforward. Its methodology applies a 16% tax on all transactions within the system. A part of this tax is used for different purposes like rewards, reflections, and automated liquidity. 

This DeFi infrastructure is completely tokenized, which makes smart contracts more innovative. Besides, its reward mechanism includes both internal and compounded rewards. For this reason, there are a total of 8 different reflected tokens in the system. That’s why as a BBTF token holder, you have an excellent opportunity to make a passive income.

![block busters tech.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/block_busters_tech_2c8e33ff8a.png)
 
Source: (BBFT, 2022)

## Will Block Busters live up to its hype?

Block Busters’ protocol looks quite promising as it provides excellent incentives while maintaining the security of smart contracts. Moreover, the project has a team of over ten people, which adds to its credibility. On the other hand, they are also working on several innovations in the ecosystem. In the future, we might see innovations like a transaction viewing platform, smart contract development, DEX platform, and other NFT and Metaverse utilities. 

Though there is great potential, projects running on incentives are always risky. Recently, as such projects are crashing like the house of cards, it is better to conduct proper research by thoroughly reading its whitepaper and information on the website.






Block Busters Tech: Is it worth the hype?

Confused by cryptocurrency tech? You need a Blockchain for Dummies guide.
The way blockchain records data makes it difficult or impossible to hack, change, or cheat the system. The decentralised database, controlled by various participants, is known as Distributed Ledger Technology (DLT). 

It is a distributed digital log of transactions that is duplicated and distributed throughout the blockchain's entire network of computer systems. Every transaction is recorded in every participant's ledger, and each block in the chain comprises numerous transactions. The block of data keeps any information needed, including what, when, who, where, the cost involved, the state of a shipment, and variables such as the temperature.

As an asset proceeds between locations or the owner changes, the respective blocks form a data chain. The blocks confirm the order and time of transactions, and they are firmly tied together to stop any block from being changed or placed between the two current blocks.  

All network participants can access the distributed ledger and its immutable record of transactions. With this shared ledger, transactions are recorded just once, reducing the duplication of effort that is frequent in traditional commercial networks.
Each additional block strengthens the previous block's verification and thus the entire blockchain. This makes the blockchain tamper-evident, providing the critical strength of immutability.  

This removes the risk of bad actor manipulation — and establishes a trustworthy record of transactions for you and other network users.  

No participant may edit or tamper with a transaction after it has been logged into the shared ledger. If a transaction record contains a mistake, a new transaction must be recorded to remedy the issue, and both transactions are then visible.  
This implies that if one block in a chain is altered, it is evident that it has been tampered with. Hackers would need to modify every block in the chain across all distributed copies of the chain to destroy a blockchain system. 

A smart contract is a compilation of rules stored on the blockchain and carried out automatically to quicken the speed of transactions. A smart contract can specify the terms of corporate bond transfers and the payment of travel insurance, among other things. Blockchains are distributed ledger systems that record transactions with an immutable cryptographic signature known as a hash. 

Continuing our blockchain for dummies guide, let us remind you that blockchains are constantly expanding as new blocks are added to the chain, increasing the ledger's security.  

The overarching issue is trust. How can we believe that if someone establishes new money called the Y dollar, they will not award themselves millions of Y dollars or perhaps take your Y dollars? 

It was this issue that [Bitcoin](/coins/btc) was created to address, using a special database known as a blockchain. Most conventional databases, such as SQL databases, have someone in charge who can update the entries. Blockchain is unique because no one is in control; it is run by the individuals who utilise it. Furthermore, Bitcoins cannot be counterfeit, hacked, or double-spent — thus, anyone who holds this money may be confident that it has some worth.  
 
A blockchain network can track orders, payments, accounts, production, and other things. And, since members share a single view of the truth, you can see all the complexities of a transaction, giving you greater confidence as well as new efficiencies and opportunities. 

## Benefits of Blockchain for Dummies? 

Currently, operations frequently waste time and resources on duplicate record keeping and third-party validations. Fraud and cyberattacks can exploit record-keeping systems. A lack of transparency can slow data verification. And since the introduction of IoT, transaction volumes have surged. All of this slows commerce, depletes the bottom line, and suggests that a different method is required. Here comes blockchain.  
 
## Trust  

You may be sure that as a member of a members-only network, you are receiving accurate and timely data, and that your confidential blockchain records will be shared only with members of the network to whom you have authorised access.  
 
## Security  

Because confirmed transactions are permanently stored, all network participants must agree on data veracity. Nobody, not even the system administrator, can erase a transaction. 

## Increased Efficiencies  

Time-consuming record reconciliations are removed with a distributed ledger shared across network participants. A collection of rules, known as a smart contract, may also be placed on the blockchain and implemented automatically to speed up transactions. 

## Types of Blockchain Networks for Dummies
 
### Blockchain public networks  

A public blockchain is one that anybody may join and participate in. Bitcoin is an example. Significant processing power may be required, as well as little or no transaction privacy and inadequate security. These are critical concerns for the application of blockchain in the corporate world.
 
### Blockchain private networks  

Like a public blockchain network, a private blockchain network is a decentralised peer-to-peer network. A single organisation governs the network, controlling who may participate, implements a consensus procedure, and maintains the shared ledger. Depending on the application, this can increase participant trust and confidence. A private blockchain can be hosted on-premises or behind a corporate security system.
 
### Blockchain networks with permissions  

Businesses that create a private blockchain create a permissioned blockchain network. It is worth noting that public blockchain networks may be permissioned as well. This limits who is permitted to join the network and what transactions are made. To participate, you must have an invitation or permission

### Blockchain consortiums  

The upkeep of a blockchain may be shared across many companies. These pre-selected organisations control who may submit transactions and access data. A consortium blockchain is appropriate for business circumstances where all stakeholders must be approved and share ownership of the blockchain.
 
### Blockchain Security for Dummies  

When developing an enterprise blockchain application, it is critical to have a complete security plan that employs cybersecurity frameworks, assurance services, and best practices to decrease the risk of attacks and fraud.  
 
While blockchain technology creates a tamper-proof transaction ledger, blockchain networks are vulnerable to cyberattacks and fraud. Those with malicious intent can exploit known weaknesses in blockchain technology and have been successful in various hacks and frauds throughout the years. Here are a couple of such examples:
 
### Exploitation of code  

Through code exploitation, the Decentralised Autonomous Organisation (DAO), a venture capital fund based on a decentralised blockchain inspired by Bitcoin, was plundered of more than USD 60 million in ether digital currency – almost one-third of its value.
 
### Keys stolen  

The loss of roughly USD 73 million in client Bitcoins from Hong Kong-based [Bitfinex](https://www.bitfinex.com/), one of the world's largest cryptocurrency exchanges, revealed that the currency remains a substantial danger. The reason was the theft of private keys, which are personal digital signatures.
 
### Employee computer hacked 

When Bithumb, one of the major Ethereum and Bitcoin cryptocurrency exchanges, was recently attacked, hackers accessed the data of 30,000 customers and stole USD 870,000 in Bitcoin. Even though it was an employee's PC that was hacked rather than the main servers, the incident prompted concerns about general security.

When creating a private blockchain, ensure it is implemented in a secure, robust architecture. Poorly chosen underlying technology for company goals and operations might expose data to security threats due to vulnerabilities. 
Consider the dangers to business and governance. Financial repercussions, reputational considerations, and regulatory hazards are all examples of business risks. Governance issues stem from the decentralised nature of blockchain systems, which necessitate strict controls over decision criteria, governing policies, identification, and access management. 
 
Understanding and controlling blockchain network risks are important to blockchain security. A blockchain security model comprises the strategy to deploy security to these controls. Create a blockchain security model to verify that all security safeguards for your blockchain solutions are in place. 

Administrators must create a risk model that addresses all business, governance, technological, and process concerns to execute a blockchain solution security model. They must next assess the dangers to the blockchain solution and develop a threat model. Then, administrators must create the security measures that will reduce the risks and threats based on the three categories listed below:  

Implement blockchain-specific security mechanisms.  
Use standard security controls.  
Implement blockchain business controls. 
How Does Blockchain Operate in the Business World?  
Blockchain for business is useful for entities that do transactions with one another. Permissioned users may access the same information simultaneously using distributed ledger technology, improving efficiency, removing friction, and building trust. Blockchain technology can also enable a solution to grow and scale quickly. Many solutions can be customised to do many jobs across sectors.  
 
## What Role Does Blockchain Play in Environmental Protection?  

Blockchain technology may enable new change models, expand knowledge, and assist social groups in creating common systems of record that meet the needs of corporate donors. Blockchain guarantees that production processes and environmental effects may be recorded, audited, and reported. 

So, to summarise for dummies, blockchain technology enables operational, regulatory, increased visibility, and traceability verification efficiencies. This technology also functions as a robust database that can be readily coupled with big data. Blockchain has the potential to reduce costs and make many services more competitive.
 
 
 



Blockchain for Dummies: The Tech Explained

If you don't know, "smart contracts" are self-executing contracts with predetermined rules. They are stored on the blockchain and can be used to automate the exchange of money, property, shares, or anything of value. Smart contracts are created using programming code, and once uploaded to the blockchain, they become immutable and irreversible.

## All About Smart Contracts

The term "smart contract" is understood as a computer protocol used to facilitate, verify, or enforce a contract. They can be used to track assets throughout their lifecycle, from creation to destruction.

Nick Szabo first proposed smart contracts in 1996 as a way to enable secure transactions without the need for third-party intermediaries. Today, smart contracts are used to streamline various business processes, from supply chain management to land registry.

The use of smart contracts can help to reduce costs, speed up transaction times, and increase transparency. Traditionally, when buying a car from a dealership, you would need to sign a contract and then make a payment to the dealership. With a smart contract, you could instead send your payment directly to the smart contract.

The smart contract would then release the funds to the dealership once the car has been delivered. This kind of transaction is more efficient and reduces the chances of fraud or dispute.

## How Smart Contracts are Changing the Blockchain Landscape

Smart contracts are important innovations in the blockchain space. By allowing for the execution of contracts and transactions without the need for a third party, smart contracts are set to revolutionise how we do business.

For example, smart contracts streamline supply chains, ensuring that goods are delivered on time and that payments are made promptly. They can also be used to create immutable records of transactions, preventing fraud and protecting data.

In addition, smart contracts can be used to create Decentralised Autonomous Organisations (DAOs), which are autonomous organizations that do not have a single entity in control.

The possibilities for smart contracts are endless. They are already starting to change the way we think about blockchain technology.

## Businesses Already Using Smart Contracts

Smart contracts are quickly becoming a popular tool in many different industries. They allow businesses to streamline a wide range of processes, reduce costs, and securely store and transmit data. Some examples of businesses already using smart contracts include online retailers, financial services providers, transportation companies, and healthcare providers.

Online retailers like Amazon use smart contracts to facilitate secure payments between buyers and sellers. With smart contracts, shoppers can purchase items quickly and easily without going through the intermediary of a payment processor like [PayPal](https://www.paypal.com/im/home) or Visa. This reduces costs for merchants and helps to ensure that transactions are faster and more secure.

Similarly, financial services providers are also turning to smart contracts to streamline processes within their organisations. For example, investment firms can use smart contracts to automate the transfer of assets among different parties, thereby maximizing efficiency and minimising the potential for errors or delays.

Likewise, insurance providers can use smart contracts to automate the management of payouts in the event of claim settlements or damage assessments. Overall, it is clear that smart contracts have vast potential to improve businesses across all industries.

## The Future of Smart Contracts

They are an integral part of blockchain technology, serving as the foundation for all transactions on the blockchain. These contracts use programming logic to execute various actions, from completing simple tasks like tracking payments to complex operations such as updating smart property records.

The advantages of smart contracts are numerous, ranging from increased security and efficiency to streamlined processes and decreased transaction costs. As the technology continues to develop, smart contracts seem poised to play an increasingly important role in the future of the blockchain.

Whether used for financial, legal, or other purposes, smart contracts will be crucial in powering smarter and more connected systems worldwide. 

Given their growing popularity and significant potential benefits, it seems likely that smart contracts will only become more prevalent in years to come.


Smart Contracts are Revolutionising Blockchain

[Quantum Blockchain Technologies](https://quantumblockchaintechnologies.co.uk/) share price (AIM: QBT) came into the investors' focus last month as the company announced great results due to its AI and mining operations.

Stocks of this blockchain investment company jumped over 20% after the group revealed it filed a patent application for a pioneering new Bitcoin mining algorithm that runs on a quantum computation model and is qubit-based.

The company said it plans to conduct further aggressive R&D and investment tactics within the blockchain sector, including crypto mining and other apps.

The Quantum Blockchain Technologies' share price will very likely depend on the professional recently appointed by the company to lead an AI research group and find the optimal way of mining Bitcoin.

Usually, investors are eager to give money when they believe their profit will come faster. With quantum computers, some exact calculations are conducted much more quickly than home computers would do them. Nowadays, there are concerns that quantum computers could be grinding crypto mining operations needed to create new blocks. That would mean that these computers would be privileged before other miners and therefore present a threat to proof-of-work blockchain consensus by disturbing the decentralization and security of those blockchains.

However, this also means that the whole process would come to a new level, with the mining process becoming increasingly automated. In the end, this would present more significant profits for the stockholders. Along with the application-specific integrated circuit (ASIC) miner, this technology will most likely increase the hashing speed compared to other ASIC announced by competitors.

## Quantum Hopes for More Speed Increase

Quantum Blockchain Technologies' share price could keep its bullish trend for a while. The company has confirmed plans to create new partnerships with other start-ups within the blockchain and cryptocurrency space.

QBT CEO Francesco Gardin confirmed impressive progress in all R&D areas and added the expectation is "higher performance than originally estimated".

Gardin said results will be verified before any "cooling techniques", which could allow for further increases in speed, are implemented.
Still, as we already mentioned, some analysts advocate theories about quantum computers posing a serious challenge to the [Bitcoin](/coins/btc) blockchain security.

According to the last reports, approximately 25% of the active Bitcoins are exposed to a possible quantum attack, meaning they are usually stored in an exposed wallet. And even though transferring tokens to a new p2pkh address would temporarily help, one may still be affected if all the people who hold vulnerable coins do the same. 

That would bring us to a situation where, in the case of a major hack such as Mt. Gox, the price of Bitcoin (and therefore of Quantum Blockchain Technologies share price) would plunge together with the investors' confidence.

Quantum computers could act in the way they destroy the Bitcoin transaction process because of their speed. However, there is a cure for that as well. A new type of cryptography dubbed 'post-quantum cryptography' is expected to be intrinsically immune to quantum attacks. However, these types of algorithms are still in diapers and are still being studied.

At the time of writing, the price of Quantum Blockchain Technologies shares stood at 2.84 GBX, down by 1.90%.



quantum blockchain technologies share price 

Quantum Blockchain Technologies Share Price Analysis

Ready for some [Chainlink](https://chain.link/) news? Let's start by explaining what it is.

[Chainlink](/coins/link), then, is a decentralised oracle network intended to function as middleware between smart contracts on innovative contracting platforms and external databases, authorizing smart contracts to safely access off-chain data feeds.

## Chainlink History

Developed in September 2017, the Chainlink protocol was officially launched on mainnet in May 2019. The crypto coin strives to solve the oracle problem, an inherent restriction of blockchain networks that controls them from linking to external databases that exist off-chain. 

Chainlink delivers a comprehensive range of decentralised services via a network of autonomous oracle node operators to smart contracts, including:

•	Price Feeds - financial market data used to control a large portion of the DeFi economy, 
•	Verifiable Randomness - allowing the creation of dynamic NFTs and unbiased on-chain gaming applications,
•	Proof of Reserve- supplying proof of off-chain collateral that supports stable coins and cross-chain tokens,
•	Keeper Network- transaction automation bots that deliver independent DevOps services.

The newly published Chainlink 2.0 whitepaper also widens the abilities of Decentralised Oracle Networks (DONs). It explains how the Chainlink network matures to deliver tamper-proof data and secure off-chain computation. Chainlink oracle networks allow the creation of highly scalable and privacy-preserving hybrid smart contracts that connect on-chain and off-chain infrastructure.

The latest scalability upgrade of the Chainlink network, Off-Chain reporting, reduced oracle updates' gas prices by 90%, representing the first move towards attaining the plans mentioned in the whitepaper.

## Chainlink Technology
 
The decentralised oracle network Chainlink allows smart contracts to safely interact with real-world data and services beyond the blockchain networks. Like blockchain, Chainlink is not a monolithic network; rather, it is an infrastructure and framework for creating blockchain-agnostic oracle networks that extend the capacities of blockchains and layer-2 protocols.

Chainlink oracle network comprises multiple autonomous oracle nodes that assemble data from various autonomous data deliverers, aggregate it into a single data point, and supply it on-chain to be consumed by smart contracts. Chainlink's adaptable architecture allows for highly configurable oracle networks that can be composed of any preference of data providers and node operators that use distinct network parameters such as update frequency, fee payment amounts, and more.

Chainlink nodes are used by experienced DevOps infrastructure providers, top-notch companies, and professional data providers who deliver smart contracts with access to cryptographically signed data for further security assurances. Because of its adaptable infrastructure, Chainlink can deliver any data or computation to any smart contract application functioning on any blockchain network.

## Chainlink News

Chainlink (LINK) is currently selling at $15.38 in its USD rate. LINK has a complete market cap of $7,181,227,454 with the 24-hour bartering volume of $423,830,966.00. This data makes Chainlink (LINK) rank 23 in the crypto coin market.

In 2022 forecasts, the LINK price is predicted to cross an average price level of $20.58. Chainlink's anticipated minimum price value by the end of the present year should be $19.99. Moreover, LINK can attain the highest price level of $22.56.
 



Chainlink News, History, and Technology

Blockchain and cryptocurrency market technology should be taught in schools, according to the incoming New York mayor.

The comments come just days after New York Mayor-elect Eric Adams said he wanted to receive his first three wage packets in Bitcoin (BTC).

His latest comments, during an interview with [CNN](https://edition.cnn.com/), reinforced his stance on cryptocurrency technology, with Adams suggesting schools should be teaching crypto.

## 'The New Way of Thinking'

He said: ‘We must open our schools to teach the technology, to teach this new way of thinking.’

Adams described cryptocurrency as ‘a new way of paying for goods and services throughout the entire globe’ as he urged schools to prepare students for the ‘new way of thinking’ created by by blockchain technology and digital assets.

In part, his call for crypto education was prompted by his experience with young New Yorkers. He told CNN: ‘When I talked about blockchain and Bitcoin, young people on the street stopped and asked me “What is that?”.’

## New York Should Remain a Centre of Innovation

The comments by Adams received a mixed reaction on social media, with some saying cryptocurrency technology ‘must’ become part of school curricula and others arguing schools should remain focused on teaching core subjects and the basic concepts of finance first.

During the interview, Adams suggested he will encourage businesses in New York to accept cryptocurrencies as payment. While he insisted such a move would be taken carefully to ‘get it right’, Adams insisted it was necessary to ensure New York remains a ‘center of innovation, no matter what that innovation is’.

If the school plan suggested by Adams was implemented, New York wouldn’t be the first US city to do so.

Earlier this year, a bill was passed by the Georgia House of Representatives which called for state education officials to implement in high schools a financial literacy programme which would include crypto.


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