Three is better than one: Why going cross-chain will be a huge milestone for NewsCrypto

2021-1-27 22:14

The rise and growing adoption of cryptocurrencies, including decentralized finance (DeFi) protocols in particular, has brought with it many new opportunities, but also a number of challenges that the world of crypto is facing right now.

The most important one of these is the basic fact that, while blockchain technology does enable unprecedented levels of security, speed, and scalability, every token is normally confined to a single blockchain.

Recently, several projects have started to address this issue, and NewsCrypto is joining in by making NWC a cross-chain token. So, what does this mean, how is it implemented and what will it bring for the future of NewsCrypto?

As a crypto project grows and gains ground with different use cases, it needs to become available on multiple blockchains in order to facilitate adoption, since different blockchains offer different capabilities. The NWC token started out on the Stellar blockchain due to its low fees and fast transactions, but as the development of a variety of protocols on other blockchains has become so rapid in the past year, NewsCrypto has implemented a cross-chain swap of their NWC token right on the project’s website.

Users are now able to swap between the Stellar, Ethereum, and Binance Smart Chain versions of NWC at a 1:1:1 ratio with a single click. Since the process is implemented via a smart contract, it is completely automatic and permissionless.

Given the number of innovative protocols on Ethereum and BSC, this will open the door to many new use cases for NWC. It will now be possible to use the NWC token in any Ethereum or BSC dApp and to list it on decentralized exchanges on these two blockchains. This will be a monumental breakthrough for NewsCrypto, as DEXes and other DeFi projects are on the forefront of innovation in the crypto space, taking the vision of decentralization further than ever before.

The most popular DEX on Ethereum is Uniswap and, with its daily trading volume hitting a high of $3.55B on January 4th, a listing on that exchange would bring in a huge number of traders that prefer decentralized exchanges over traditional centralized ones. Since Ethereum’s fees can be very high, however, Binance Smart Chain offers a number of its own DEXes with much lower transaction fees, including the Binance DEX.

Apart from exchanges, NewsCrypto’s cross-chain strategy will enable the token to be used as collateral in various DeFi protocols. The latter has grown exponentially over the past year, with the total value locked in DeFi currently over $18B. Implementing NWC in DeFi will enable token holders to lock it as collateral in order to take out loans, as well as to earn passive income by providing liquidity to NWC pools. This will result not only in wider adoption but also in less selling pressure, as users that need access to fiat funds will be able to take out loans on the basis of their NWC collateral instead of selling the token.

NWC/ETH is live on Uniswap

The Ethereum version of NWC can already be bought on Uniswap, and a cross-chain swap will soon be implemented right on the official website, so that you will be able to swap between the Stellar, Ethereum, and Binance Smart Chain versions of NWC with a single click. This is undoubtedly one of the biggest improvements in the short but thrilling history of NewsCrypto, as it opens the door to many new utilities for token holders.

Now you can store NWC in Ethereum wallets, and it will soon be possible to use the token in DeFi protocols as well. If you want to earn passive income on your ERC20 version of NWC, you can add liquidity to the NWC/ETH trading pair to earn a share of the trading fees.

NewsCrypto has already been leading the way when it comes to crypto education, and now it will join the ranks of innovative cross-chain projects, bringing the utility of their token to countless new users. Since 2021 has already been touted as the year of cross-chain projects and blockchain interoperability, there is no doubt as to the effect that this will have on NWC.

NewsCrypto
NWC on Coinmarketcap
NWC on Uniswap

Similar to Notcoin - Blum - Airdrops In 2024

origin »

MANY (MANY) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 0.0416658 (-100%)

many brought protocols particular new crypto facing

Источник: coinstelegram.com

many brought → Результатов: 126


Фото:

Cryptocurrency News Roundup for June 2, 2020

The Bitcoin community is certainly no stranger to sudden price drops that are very rapid, deep, and volatile. However, the plunge that brought the alpha cryptocurrency down by some $800 in as little as five minutes yesterday came as a rude shock to many traders who were virtually left stranded on the wrong side of […] The post Cryptocurrency News Roundup for June 2, 2020 appeared first on BeInCrypto.

2020-6-3 13:48


Фото:

Fund Manager: Bitcoin’s Perfect Storm Is Here Because of “Reckless” Fed

Since the crypto bubble of 2017 that brought Bitcoin from under $1,000 to $20,000 in a year, analysts have been wondering what will spark the next rally. Many have put their faith in the Bitcoin block reward halving, which came to pass earlier this week, but more and more are becoming convinced that it is (somewhat ironically) central banks and governments that will start the next bull market to all-time highs for both gold and Bitcoin. […]

2020-5-19 15:00


Sony’s BCDB Uses Blockchain for Mobility as a Service (MaaS), Enhancing Future Transportation Data

Blockchain technology has emerged as one of the most sought after emerging technology in recent times. Even though cryptocurrencies that brought the technology to the forefront is looked with scrutiny in many countries and industries, Blockchain has unanimously managed to impress one and all.

2020-4-25 22:12


Фото:

Bakkt Launching Cash-Settled Bitcoin Futures Contracts in Singapore

On Thursday, November 21, the Intercontinental Exchange, Inc (ICE), revealed that Bakkt is prepping to launch Bitcoin to USD settled Futures on December 9. As you may know, Bakkt was big for being the first platform to offer futures settled in actual Bitcoin, which, to many, brought some sort of legitimacy to the cryptocurrencies, blockchain, […] The post Bakkt Launching Cash-Settled Bitcoin Futures Contracts in Singapore appeared first on BeInCrypto.

2019-11-22 03:42


BitMEX issues new security advisory; cites ‘increasing number of unauthorized access attempts’

The cryptocurrency market is no stranger to nefarious activities, with the industry peppered with events that have resulted in the loss of millions of dollars. This pattern of shady dealings in the cryptoverse was again brought to light when BitMEX, a popular cryptocurrency exchange, pointed out that there were many cases of unauthorized account access […] The post BitMEX issues new security advisory; cites ‘increasing number of unauthorized access attempts’ appeared first on AMBCrypto.

2019-6-12 19:30


Andreas Antonopoulos explains Bitcoin [BTC] wallets and its relation to multiple addresses, CoinJoin brought into the picture

The rise in transactions in the world of cryptocurrencies has led many users and hodlers of the digital assets to dive deeper into the inner workings of the phenomenon. The piqued interest in the field has also resulted in many proponents of cryptocurrencies coming out to clarify certain aspects of transactions, with Bitcoin bull Andreas […] The post Andreas Antonopoulos explains Bitcoin [BTC] wallets and its relation to multiple addresses, CoinJoin brought into the picture appeared first on AMBCrypto.

2019-5-25 12:30


Фото:

Bitcoin Price Analysis: Upward Drift Continues Following Established Macro Support

Since mid-February, the bitcoin market has continued to drift upward toward a band of strong, macro resistance (shown below as a red band). This slow, drift upward marks our fourth test of the resistance zone and, unlike the three prior tests, our rejection of the level has shown a weakness on the side of the bears:Figure 1: BTC-USD, Daily Candles, Fourth RejectionIf we compare the three prior rejections (labeled 1, 2 and 3), we see that the move into this resistance level was violent — and had equally violent rejections.

2019-3-29 02:21


Фото:

Bitcoin Price Analysis: Slow Upward Drift Tests Market Supply

A slow, grinding upward drift has been the name of the game for bitcoin’s market over the last few weeks. The upward drift is bringing us slowly to a level that was previously rejected violently:Figure 1: BTC-USD, Daily Candles, Upward DriftOur third rejection of the red resistance level shown above brought the market into a test of macro support in the mid-$3,000s.

2019-3-23 01:23


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Here’s why MOVE rallied 26% as the crypto market tanked

MOVE, the native token of the Ethereum layer-2 blockchain Movement, experienced a significant price rally outpacing the broader crypto market, which remained on a downward trajectory. Movement (MOVE) recorded the highest gains among the top 100 largest crypto assets on…

BONK goes live on Robinhood as meme coins continue to struggle

Prominent cryptocurrency and stock trading platform Robinhood continued to expand its meme coin offering with the listing of Bonk. According to a Dec. 20 announcement, the Solana-based meme coin will now be accessible to over 24 million Robinhood users. BONK…

Bitcoin ETFs record $680m outflows as BTC dips below $96k

Spot Bitcoin exchange-traded funds in the United States recorded $680 million in outflows on Dec. 19 as Bitcoin fell below $96k amid the Federal Reserve maintaining a cautious outlook on future interest rate cuts. According to data from SoSoValue, the…

SEC approves Crypto Index ETFs from Franklin Templeton and Hashdex

The United States Securities and Exchange Commission has approved two spot cryptocurrency index exchange-traded funds. On Dec. 18, the SEC greenlighted the crypto index ETF proposal from Franklin Templeton, allowing it to trade on the Cboe BZX Exchange. The following…

Tether invests in StablR to boost stablecoin adoption in Europe

Tether's investment in StablR could accelerate stablecoin integration in Europe, potentially reshaping the region's digital finance landscape. The post Tether invests in StablR to boost stablecoin adoption in Europe appeared first on Crypto Briefing.