Coin Circle Daily 2022.09.05 ｜Five minutes to master the global blockchain

Dear Reader:

The development team of Cardano (ADA), the world's top three public chains, announced that the Cardano mainnet upgrade plan will be carried out a week after the Ethereum upgrade. Whether it will bring more benefits to the currency price has become a topic of concern to currency circles.

Today’s headline news in the currency circle also includes:

• Polygon, an Ethereum expansion solution, has been listed as a partner by many traditional companies.
• The price of LUNC has skyrocketed, leaving behind the scolding of reconstruction. The reason for the bullishness may come from the strong consensus of the community.
• In order to expand the metaverse, Meta generously donated its own VR equipment to colleges and universities. The era of virtual education is coming?

The big guy’s point of view mentioned that SBF, the founder of the FTX exchange, believes that the recent efforts to fund distressed encryption companies have resulted in mixed results, and said that the current trend of cryptocurrency regulation may gradually become clear?

✨ The latest news in the currency circle

≣ Cardano, the third largest public chain by market capitalization, announced the mainnet upgrade, the new version will bring higher efficiency to the network

The biggest news of Cardano (ADA) recently was released. The team announced on Twitter that the Vasil hard fork upgrade for the Cardano main network will be carried out on 9/22 . The developers said that the new version will have higher network capacity and lower transaction costs, and There are plans to enhance Plutus functionality to enable developers to build more efficient blockchain applications.

The Vasil hard fork is considered to be the most important plan for all the upgrades of the public chain so far. The Cardano team gives three goals for the upgrade :

• Vasil node candidates create 75% of the mainnet blocks.
• 25 listed exchanges were upgraded simultaneously (accounting for more than 80% of the governance token ADA in circulation).
• The top 10 Dapps with locked positions on the public chain confirmed that they have completed the previous upgrade and are ready to enter the mainnet.

As soon as the news came out, it also inspired the rise of Cardano's native token ADA, which has risen by more than 15% in the past seven days.

≣ Meta and Robinhood both adopted Polygon, and the Ethereum expansion solution token MATIC rose 10% in a week

Both of the two leading companies have adopted the Polygon technology of the Ethereum expansion scheme , and they are optimistic that their blockchain network will be the icing on the cake for their own business.

Meta announced last month that it will use the Polygon blockchain network to increase interoperability for its own social software Facebook and Instagram to develop NFT services. Recently, the well-known application software service provider Robinhood also announced the integration of the Polygon network. In addition to these two companies, global transactions Opensea, the largest NFT marketplace by volume, has supported users to create and trade NFTs using the Polygon network for several months.

Further reading: You, My Childhood Memories, Disney announced in July the use of Polygon as a developmental Web3 accelerator program .

≣ The price of LUNC has skyrocketed recently, the main reason may be the high consensus among community builders

The recent price jump of Terra Luna Classic, the establishment of the DAO and the token repurchase program are considered to be the key reasons . The LUNC DAO requires the implementation of the token destruction plan and the launch of a new pledge activity to restore the value of the token itself.

According to the Twitter account LUNC Staking, after the launch of the plan, more than 402 billion tokens have been pledged , accounting for 6% of the overall supply. The current average annual interest rate of pledge is about 37%. Whether the follow-up interest rate can be maintained depends on the follow-up market. Depends on liquidity.

≣ Meta donated VR headsets to ten universities as teaching tools to advance the deployment of Metaverse education

Meta (formerly Facebook) recently gifted ten universities with a metaverse experience device, VR Quest , to host virtual courses that allow students to continue their learning on virtual campuses.

A spokesperson for Meta said, " Education is a meaningful use case for the metaverse industry . The immersive learning provided in the metaverse can help creators everywhere learn metaverse skills and create an immersive experience environment for learners." .

≣ Arbitrum One, the leader of the Ethereum expansion plan, has completed the network upgrade, and the ecosystem is expected to continue to grow

Ethereum's largest scaling solution ecosystem, Arbitrum One, recently announced the completion of the upgrade, which includes increased network throughput and reduced transaction fees .

Arbitrum One, which has a total lock-up volume of US$2.5 billion, has recently increased its lock-up volume and the number of application projects built on it. In addition to being optimistic about the future development of the ecosystem, since Arbiturm One has not issued coins yet, DeFi projects often airdrop its new coins to early users after issuance, making it an ecosystem that many cryptocurrency players actively participate in.

≣ Binance finds suspect in KyberSwap hack that stole $260,000

KyberSwap has a technical vulnerability, from which 9/1 hackers stole up to $265,000 in user funds . After the incident, the project team took remedial measures and was willing to provide hackers with a 10% bounty.

According to the investigation, the Binance security team has identified two suspects who may have planned the hacking incident, and submitted the relevant information to the Kyber team. Kyber community members expressed their thoughts: "Binance plays the role of the big brother in the industry and continues to guard the entire encryption ecosystem ."

😎 The opinion of the big guy in the currency circle

• Sam Bankman-Fried, founder of FTX: " I think my efforts to rescue the market downturn have ended up being mixed ."

SBF, the founder of FTX exchange, said in a recent interview: "Cryptocurrency prices collapsed sharply in the first half of 2022, causing many industry-related companies to face operational difficulties. In the end, I provided nearly $1 billion to reduce the global economy's impact on the market. impact".

He added: “I don’t think these bailouts have had a happy ending, but the efforts over the past year have managed to get the crypto industry properly regulated, and I think those tensions have eased .”

• Jon Frost, Director of the Bank for International Settlements: " In achieving the goals of the future monetary system, we find that cryptocurrencies outperform fiat systems ."

New research from the Bank for International Settlements shows that cryptocurrencies are more suitable for future adoption than the current fiat currency systems of major countries around the world, but Jon Frost, director of the agency, added: "The current obstacles to mainstream services adopting cryptocurrencies may be DeFi's volatility However, it is still recommended that central banks need to take advantage of innovative technologies to bring convenience to merchants and customers.”

📈 On-chain data analysis

≣ Dune Analytics: Opensea NFT transaction volume fell below $500 million in a single month, hitting a new low in nearly a year

NFT trading market - Opensea's trading volume last month (August 2022) was about $490 million, the lowest since August 2021.

Editor's Note: Opensea's highest monthly transaction volume in history was January this year (approximately US$5.86 billion).

≣ The Block Research: On-chain stablecoin transaction volume increased by more than 30%, hitting a new all-time high

In August this year, the stablecoin transaction volume on the chain increased by more than 30% compared with the previous month (July: US$655.2 billion, August: US$866.2 billion). Sanctions are related . After the incident, the circulation speed of mainstream stablecoins such as USDT, USDC, DAI, etc. increased significantly.

≣ CoinMarketCap: Bitcoin dominance falls below 40%, lowest performance since June 2018

Trading View data shows continued sluggish performance for the BTC/USD pair , with bitcoin dominance hitting a four-year low, according to CoinMarketCap.

Editor’s note: Bitcoin Dominance (Market Cap BTC Dominance) represents the share of Bitcoin’s market capitalization in the entire cryptocurrency market capitalization, expressed as a percentage.

🐶 Daily currency circle memes / memes

Contributed works from the group friend @Kirin of the Discord meme terrier channel group of <brain brother chill block chain> .

📝 Daily Crypto Terms

≣ What is Cardano?

Cardano (ADA) is the seventh-largest cryptocurrency by market value and the third-largest cryptocurrency in the public chain. It is intended to be an evolutionary version of Ethereum, providing a highly flexible and scalable development platform. At the same time, it adopts the proof of stake called Ouroboros as the consensus. mechanism.

Cardano was launched in September 2017 by Charles Hoskinson, one of the founders of Ethereum. Its Ouroboros consensus mechanism was jointly developed and launched by the University of Edinburgh, the University of Tokyo and other cryptography teams, and uses ADA as the platform's native cryptocurrency. Although Cardano is not as highly discussed in Taiwan, it has one of the most cohesive communities in the world.

Further reading: Cardano native currency   ADA is named after Ada Lovelace, a mathematician born in the 19th century, who is considered to be the world's first computer engineer. In order to commemorate its greatness, the Cardano team took the name of its own blockchain governance token as its name.

📈 Cryptocurrency prices rise and fall

≣ Crypto Fear and Greed Index at 20 (Extreme Fear)

≣ Cryptocurrency price performance

Welcome to the official Discord community of <brain brother chill blockchain>👇
https://discord.com/invite/unz2CPH49A