Hello 🙂

I was once told that "If your going to look in the past then do so but don't stare. If you stare too long, you will miss the future".
Crypto is growing rapidly.

There as been so many changes in the month of February. Many new companies have got involved with crypto currency. Uk government have now working on new tax for crypto that comes under capital gains. Bitcoin after a slow winter decrease showed its strength with a rise. New defi dapps, Blockchain evolvement, NFT’s still growing, Banks and world government more interested. As more and more individuals getting to understand and taking part within the crypto world, I thought this would be a good time to go back to basics and try to understand more. Thanks to Coinbase who has put together some clear descriptions below for us to understand.

Will Paraguay adopt bitcoin as the

Paraguay is leading the race to become the second country in the world to adopt cryptocurrency as legal tender.

Will It Happen Soon?

Table of Contents

  • 1. The Boss Man Said It
  • 2. Official Cryptocurrency Bill Passed in Paraguay’s Parliament
  • 3. Adoption of Cryptocurrencies in Latin America
  • Final Verdict: Will Paraguay Accept Bitcoin as Legal Tender?

The topic of who will join El Salvador’s lead in adopting Bitcoin as the country’s legal tender is one that many are debating. The question of whether or not 2022 will be the year when other countries follow the crypto legalization trend is still up in the air. Without a doubt, 2021 was a watershed moment in Bitcoin’s history and journey, with the entire globe watching as a sovereign country adopted BTC as its legal tender.

The crypto community expected other countries, particularly small ones, to follow El Salvador’s lead; in fact, the prominent JPMorgan bank argued at the time that there may be a “domino effect” once Bitcoin became a legal currency in El Salvador.

However, four months have passed and no other country has joined the hall of fame yet, despite the fact that certain countries, such as Tonga, have shown clear intentions of copying the Salvadoran model. Recently, however, an announcement from the ‘CEO’ of El-Salvador (as he calls himself) has sparked a debate of whether Paraguay is set to become the second country to accept Bitcoin.

Here are some reasons why the Paraguayan crypto dream could become a reality in 2022:

1. The Boss Man Said It

The tweet shared above by the President of El-Salvador, Nayib Bukele, is no joke. This is because his authority and the level of connections he has in the political and crypto world are second to none. Many crypto developments promised by El-Salvador’s CEO have come to fruition in 2021, including the legalization of Bitcoin.Another reason why Nayib might be right is that El-Salvador is a part of Latin America, along with Paraguay and other countries. Nayib’s decision of legalizing Bitcoin in 2021 had a big impact on the world and more so in its surrounding countries. Paraguay may very well be on its way to legalizing Bitcoin in 2022, and this takes us to a much stronger reason why this could happen.

2. Official Cryptocurrency Bill Passed in Paraguay’s Parliament

In December 2021, the Senate of Paraguay enacted a law aimed at regulating Bitcoin and cryptocurrency trading and mining in the country.Senator Fernando Silva Facetti, a bill co-author, said on Twitter that the law will be debated in the Chamber of Deputies of Paraguay in 2022. The bill in Paraguay does not make bitcoin legal tender. However, it does hint at tighter regulation from the country’s officials when it comes to bitcoin mining, as well as an overarching goal of protecting investors from businesses that provide bitcoin services.Paraguayan Congressman Carlitos Rejala told Bitcoin Magazine: “With this we want to welcome the innovation of cryptocurrencies in Paraguay to the world”

“This is the result of a very strong and arduous teamwork of many experts in the field, both local and foreign.”

“While El Salvador’s final bill was just a few pages of text representing easily the most favorable, accommodating Bitcoin legalese ever passed, the early draft of Paraguay’s legislation set a different tone”

3. Adoption of Cryptocurrencies in Latin America

Since the acceptance of Bitcoin in El-Salvador as legal tender, a tsunami of cryptocurrency acceptance has been witnessed in the world, especially in Latin America. Countries like Brazil and Tongo are also on the verge of accepting Bitcoin as legal tender.

According to one of Tonga’s former MPs, the Polynesian island is preparing to make Bitcoin an official tender.

In a series of tweets, Lord Fusitu described the probable move, saying that a ruling very comparable to the El Salvador bill was being worked on.

He unveiled a five-point strategy that saw Bitcoin become legal tender by November.

Tonga’s government and financial leaders have yet to officially discuss any plans for incorporating digital assets into the country’s economic model, but Fusitu’a’s weight of influence in the area commands enough international recognition for his remarks to be taken seriously.

Several ministers, including Fusitu’a, are crypto fans, which has fueled speculation about Tonga’s plans to make Bitcoin legal tender in 2022.

The proposal is similar to El Salvador’s move last year when President Nayib Bukele took his country to the brink of Bitcoin adoption by making it legal tender alongside the US dollar. In addition to Tonga, Brazil is seen as the core hub of cryptocurrencies by major exchanges like Coinbase, Binance and others. Binance told Coindesk: “It is a key strategic market for Binance, for sure. It is the largest market in Latin America in all metrics and with enormous potential; and it is also very important for the company globally,”

Considering this increased interest in the crypto craze in the region of Latin America, Paraguay might be making Bitcoin legal tender in 2022.

Final Verdict: Will Paraguay Accept Bitcoin as Legal Tender?

The answer to this question depends on world politics and decisions made in Congress when the bill will be debated again in 2022. However, at present, the majority of economists have predicted this bill to pass due to the reasons discussed in this

article by CoinMarketGap News

What is Web3 and What Can We Expect From It?

I been asked this so may times.

Its almost upon us with some dapps already in action. Its time again to go through some details again, here.

What are Some of the Main Expectations for Web3?

People are still hard at work figuring out what Web3 development will look like as it continues taking shape. However, there’s some agreement about its main characteristics. Here are some of them.

More Decentralization

The blockchain comes up in many Web 3.0 discussions, and people believe the two will have close links. That’s because decentralization will be a defining feature of the new generation of the internet.

People at Protocols Labs are working on a project that shows what’s possible. It’s called the InterPlanetary File System (IPFS) stack and is an essential part of a peer-to-peer network that works alongside the centralized system.

There are layers for networking, data definition and naming, and the information itself. The decentralized nature of Web3 should enable people to have more control over their particulars rather than huge organizations keeping and managing it for them in exchange for letting them use sites and services.

Improved Artificial Intelligence (AI)

As people ponder the future of Web3 development, they often bring up highly intelligent machines that allow humans to have new, richer interactions with them. The way many individuals place orders, get information, and play games while interacting with smart speakers previews the possibilities.

One source estimated there will be approximately $1.25 billion worth for the global chatbot market by 2025. Web 3.0 is likely one of the factors helping get there. For now, most people interact with chatbots by typing in keyboards. However, as the internet improves, users can look forward to multimodal user interfaces where they can listen to or read a bot’s response and even use touch to interact with the content.

The Rise of the Semantic Web

People also believe Web3 will lead to the creation of the Semantic Web, where computers and programs go beyond understanding numerals or keywords. They’ll process the meaning behind a user’s query, allowing the machines to have more intelligent, useful interactions. Some people even refer to Web 3.0 and the Semantic Web interchangeably.

Natural language processing (NLP) has already allowed computers to make significant progress in handling data. A company called Wefarm created text-message shortcodes that help approximately 2.6 million smallholder farmers ask questions of their peers and get those queries to the right parties.

Web 3.0 should take similar interactions to greater heights. Computers will analyze people’s inputs with the necessary context behind them. When that happens, users should get accurate and more relevant results.

When Can People Start Using Web 3.0?

There will not be a single date when Web 3.0 is available for everyone to use. Instead, Web3 development will happen gradually, particularly as more companies work on related products. In some cases, users will need devices capable of working with the Web 3.0 infrastructure.

That said, it’s possible to use some services built to work with Web 3.0 now. One example is Follow, which launched in September 2021. It’s a decentralized social protocol geared toward people interested in getting involved in Web3 development.

Anyone can reportedly make applications with it, especially since Follow provides basic development tools on its decentralized, blockchain-based platform. Some of the possibilities include making a music player or something resembling Instagram. One of the main things that sets Follow apart from other platforms is that people have complete control over their data and identities when using any app created in it.

Moledao is another company that’s aiming to make Web 3.0 a reality. It’s a social network for blockchain enthusiasts that helps them stay abreast of the latest news and development options. In November 2021, Moledao kicked off a Web3 hackathon. It ran until early January 2022 and encouraged all the global participants to work on Web 3.0-related projects.

What Can People Expect From Web3 in the Future?

The media is filled with perspectives from people weighing in about Web3. It’s not always easy to separate what may happen relatively soon and what’s more likely the product of people’s hopeful but overactive imaginations. However, here are some details of projects in the works.

A New Way of Paying for Things

Payment options have already diversified recently, thanks to increased adoption rates of contactless solutions. However, they’re about to get even more high-tech as Web3 unfolds.

Twig is a financial tech startup that recently raised $35 million in a Series A funding round. It will put that money toward Web 3.0 plans that allow people to buy cryptocurrencies and non-fungible tokens (NFTs) by trading in their clothes and electronics for them.

Twig calls itself a “bank of things.” Its leaders envision a platform that caters to younger generations who are increasingly conscious about staying sustainable by not accumulating too much stuff. For now, users get cash in exchange for clothing and electronics. Although the company has its headquarters in the United Kingdom, there are plans to expand internationally.

If these new payment methods take off, such changes could have knock-on effects at e-commerce sites across the internet. One recent change has been the proliferation of services that let people buy things now and pay for them later. Besides getting details about those offerings, shoppers might see an expanding assortment of things they can use to make immediate or loan-based payments.

A Decentralized Organization Brings Inclusivity to Climate Change Discussions

Climate change won’t affect everyone equally, but most experts agree it’s a global issue. One problem is that many people most at risk for experiencing global warming-related ramifications don’t get to participate in discussions about how to combat them.

Another challenge is the push for improved sustainability happens erratically, rather than showing evidence of continual progress. An organization called Earth Fund aims to use Web 3.0 technologies to help.

It’s a decentralized autonomous organization (DAO) that believes Web 3.0 can spur some much-needed progress in the climate fight. One of Earth Fund’s platform features will help people learn about and vet organizations before contributing to their projects.

Earth Fund will also issue a native cryptocurrency called the 1Earth Coin. People who hold those will have voting rights and influence how the organization operates.

A Different Destination for Social Video Sharing

TikTok took the world by storm by enticing users with short, and often funny or fascinating, video clips. Its owner, ByteDance, is a Chinese-based company that quickly became so popular that it gained traction elsewhere. However, one of the Web3 aims is that gigantic companies will no longer hold so much power. Instead, the internet users themselves can answer the what, when, why, and where-based questions about their sharing practices.

Chingari is an India-based social video-sharing platform that many see as a service that could become a direct TikTok competitor. It also already has many features that align with Web3 principles.

For starters, the platform will eventually operate as a DAO, whereby people with a stake in it have a say in how it runs. It also uses a different advertising model than what most social media users are used to now. Rather than creators merely getting small percentages of advertising revenue, Chingari bridges the gap between advertisers and creators.

In such an arrangement, the advertisers engage with creators directly. That link results in a more beneficial partnership that incentivizes the platform’s creators and makes it worthwhile for them to use and distribute content through Chingari.

Chingari also has a huge library of content made easier for people to navigate with artificial intelligence algorithms. It curates and recommends content based on how users have interacted with the platform before. Sites such as YouTube already do this, but Web3 should take such functionality to the next level.

Will Web3 Have a Major Impact?

This overview of Web3 development and characteristics helps people know what to look forward to relatively soon. Many analysts are also excited about how Web 3.0 may make the internet more accessible and allow people to access content from almost any device in their environment. These things all sound wonderful.

However, it’s too early to say how quickly these hopes could come to pass. Plus, there are almost always unexpected challenges with technological advancements. There will inevitably be some downsides along with all the perks Web 3.0 brings.

In any case, people have a lot to feel excited about in the coming years. Many individuals can probably think back to when the internet was still a rarity in many households and how it quickly changed the world. Even if Web 3.0 doesn’t have such a dramatic impact, it’ll help people use the internet and associated technologies in new ways.

Thank you to Emily Newton who provided the info.



On May 22, 2010, a man in Florida paid 10,000 bitcoin for two pizzas. This is generally recognized as the first commercial bitcoin transaction.

At the time, 10,000 bitcoin was worth about $40, making one bitcoin “worth” a little less than half a cent. Today, if you had that much in bitcoin, it would be worth more than $350 million.


One man wants to excavate a landfill to get his digital wallet back

In 2013, James Howells, who lives in Wales, threw out a hard drive with 7,500 bitcoins on it. When he realized how much the value of Bitcoin had shot up in recent years, he went looking for the drive. Now, he’s trying to get his local city council to allow him to excavate the landfill in an attempt to find the drive. He’s claiming to offer a portion of the proceeds if the city allows him to look through the trash.


HODL was born in a moment of desperation

HODL is one of the most peculiar cryptocurrency jargon terms. It was coined by a Bitcoin enthusiast who responded to the so-called crypto experts who mocked him for not selling his coins. On the forum, he wrote: “I AM HODLING.”

Although this was an apparent typo, it soon got popular and was used to describe the strategy adopted by beginners who don’t know how to trade crypto but still believe in cryptocurrencies.

Today, hodling is a common strategy in crypto trading across the globe. The original typo is also known as an acronym for the phrase “hold on for dear life.”


Around 20% of Bitcoin has been lost forever

According to crypto data firm Chainalysis, around 20% of Bitcoin has been lost or is stuck in wallets that can’t be accessed. Today that equates to 3.76 million BTC (worth about $190 billion).

If you’re wondering how that’s possible, there are a few ways. First, about 1.1 million BTC is held by the top coin’s anonymous creator, Satoshi Nakamoto, according to Decrypt. The consensus is that Nakamoto won’t ever touch those coins.

Sadly, some people passed away without sharing access to their Bitcoin, which accounts for another chunk of out-of-circulation coins.

Another culprit? Lost keys. Crypto keys are like a bank account PIN, and you need them to access or trade your coins. Unfortunately, there’s no handy “forgot password” function. So if you lose your keys, you’re unlikely to see those coins again.

Hello 🙂

Looking for some good research tools to help you make the right decision on what crypto to invest in.

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Thailand Set To Become Crypto Paradise After Relaxing Crypto Tax Burden For Investors

  • Minutes of Thailand’s finance cabinet meeting were released.
  • The government plans tax relief and exemptions for the crypto industry. 
  • It hopes that the policies will speed up the growth of the industry.

Minutes of the latest cabinet meeting of Thailand’s Ministry of Finance reveal plans by the Thai government to boost the growth of the nascent market in the country. The minutes show plans for targeted tax exemptions and breaks.

Building Infrastructure For The Digital Economy

In what is now a string of pro-crypto policies, the Thai government has decided to approve certain tax relief measures for the trading of digital assets as well as tax exemptions for funding start-ups. In the statement, it was noted that the transfer of cryptocurrencies and digital assets on government-approved exchanges would be exempted from VAT. This policy would also apply to the country’s CBDC.

As disclosed by Mr. Arkhom Termpittayapaisith, Minister of Finance, and Mr. Santi Prompat, Deputy Minister of Finance, it was said that “this issue will allow Thai investors to trade digital assets on a reliable Thai exchange. Because it is under the supervision of the SEC and other government agencies. related and enabling Thailand to have a future payment infrastructure ready for the digital economy.”

The statement also read, “Tax relief for digital asset trading will help investors in digital assets to be comfortable in performing their legal duties. and get more fairness in paying taxes Including helping investors to trade digital assets that occur on Thai exchanges to be reliable, safe, and give people a choice in using digital money in the future.

The new issue also covers tax exemptions for investors in crypto startups, either directly or indirectly through VCs. It is expected that this would “strengthen domestic investment This will enable the economy to expand sustainably and enhance the country’s competitiveness.” Investing in a startup for two years can guarantee tax breaks for up to 10 years.

Crypto trading is growing at an impressive rate in Thailand. Crypto trading accounts were growing by 27.6% month-on-month as of September 2021, far ahead of stock trading accounts. The new tax policies are expected to run from the 1st of April 2022 till the end of 2023.

Thailand Is Becoming A Crypto Haven

The present position on cryptocurrencies by the Thai government represents a huge shift from their stance in the summer of 2021. As of June 2021, the SEC had decided to enforce a ban on meme coins and NFTs.

However, the country has become more crypto-friendly in recent times. At the beginning of February, the government decided to hold off on implementing a 15% tax on cryptocurrencies after consideration and feedback from market participants.

Thailand, the second-largest economy in Southeast Asia, has roughly 10 times the number of active trading accounts as the United States. According to data from the country’s Securities and Exchange Commission, transaction volume increased by about 600% from November 2020 to April 2021. Their new policies are likely to attract more crypto investment and tourism, aside from building infrastructure.

Bitcoin ATMs Illegal in the UK, Regulator are now Saying

The FCA “warned” crypto ATM operators in the UK to “shut their machines down” or “face enforcement action”

80 Bitcoin Machines around UK

The Financial Conduct Authority (FCA) said on Friday that all crypto ATMs are prohibited from operating in the UK.

The regulator “warned” crypto ATM operators to “shut their machines down” or “face enforcement action,” according to a Friday statement.

Data from Coin ATM Radar shows 80 bitcoin ATMs or tellers operate in the UK, none of which has been approved to offer crypto ATM services.

“We regularly warn consumers that crypto assets are unregulated and high-risk, which means people are very unlikely to have any protection if things go wrong, so people should be prepared to lose all their money if they choose to invest in them,” the FCA said in its announcement.

The news follows UK tax watchdog Her Majesty’s Revenue and Customs’ confiscation of three NFTs last month in an almost $2 million fraud probe. 

Three people were arrested on suspicion of fraud as a result of the investigation. Suspects used virtual private networks (VPNs), stolen identities, fake addresses and unregistered phones to try to hide illegal activities.

This was the country’s first seizure of a blockchain-based digital collectible.

Nick Sharp, deputy director of economic crime at Her Majesty’s Revenue and Customs, told the BBC that the authority is “constantly adapting to new technology to ensure [they] keep pace with how criminals and evaders look to conceal their assets.”

The use of bitcoin ATMs has come under increasing scrutiny elsewhere in the world as well. New licensing guidelines from the ​​Monetary Authority of Singapore (MAS) forced ATM operators there to shut down in January.

What is Ethereum2?

Ethereum’s Consensus Layer and Merge Explained
The long-planned upgrade to Ethereum aims to improve the network’s scalability and security by switching to a proof of stake consensus mechanism.

The long-awaited Ethereum 2.0 upgrade is nearing its launch.

The multi-phased upgrade aims to address the Ethereum network’s scalability and security through several changes to the network’s infrastructure—most notably, the switch from a proof-of-work (PoW) consensus mechanism to a proof-of-stake (PoS) model.

Ethereum 2.0, also known as Eth2 or “Serenity,” is an upgrade to the Ethereum blockchain. The upgrade aims to enhance the speed, efficiency, and scalability of the Ethereum network so that it can process more transactions and ease bottlenecks.

But Eth2 also doesn’t totally exist—in January 2022, the Ethereum Foundation said it would stop referring to the upgrade as Ethereum 2.0. The rebrand is intended to reflect the fact that what’s been previously referred to as Ethereum 2.0 is a network upgrade rather than a new network. Accordingly, Eth1 is now known as the “execution layer,” where smart contracts and network rules reside, while Eth2 is referred to as the “consensus layer,” which ensures that devices contributing to the network are acting in accordance with its rules.

However, the name Ethereum 2.0 has stuck.EthereumEthereum Foundation Kills ‘ETH 2.0’ in Favor of ‘Consensus Layer’ RebrandThe good news for developers is that the next time someone (usually a reporter) asks them when Ethereum 2.0 is coming, they’ll have an answer: Never. The bad news? They’ll have to get a bit t…NewsTechnology3 min readJeff BensonJan 24, 2022

When is Ethereum 2.0 happening?

Ethereum 2.0 is launching in several phases, with the first upgrade, called the Beacon Chain, having gone live on December 1, 2020. The Beacon Chain introduces native staking to the Ethereum blockchain, a key feature of the network’s shift to a PoS consensus mechanism. As the name suggests, it is a separate blockchain from the Ethereum mainnet.

The second phase, called “the Merge,” is expected in the first or second quarter of 2022 and will merge the Beacon Chain with the Ethereum mainnet.

The final phase is shard chains, which will play a key role in scaling the Ethereum network. Instead of settling all operations on one single blockchain, shard chains spread these operations across 64 new chains.

This also means that it will become much easier from a hardware perspective to run an Ethereum node because there will be far less data that needs to be stored on a machine.

The full upgrade to Ethereum 2.0 is expected to take place by 2023, according to the Ethereum Foundation.

How does Ethereum 2.0 differ from Ethereum?

While Ethereum 1.0 uses a consensus mechanism known as proof-of-work (PoW), Ethereum 2.0 will use a proof-of-stake (PoS) mechanism.

How does proof of stake differ from proof of work?

With blockchains such as Ethereum, there is a need to validate transactions in a decentralized way. Ethereum, like other cryptocurrencies such as Bitcoin, currently uses a proof-of-work consensus mechanism.

In this system, miners use a machine’s processing power to solve complex mathematical puzzles and verify new transactions. The first miner to solve a puzzle adds a new transaction to the record of all transactions that make up the blockchain. They are then rewarded with the network’s native cryptocurrency. However, this process can be hugely energy-intensive.EthereumWhat is Proof of Stake? How it Differs From Proof of WorkMining cryptocurrency is an energy-intensive business. But it doesn’t have to be. The Ethereum community has been working to change how the currency is created in order to radically reduce th…LearnTechnology Guides4 min readJeff Benson, Matt Hussey

Proof of stake differs in that instead of miners, users can stake a network’s native cryptocurrency and become validators. Validators are similar to miners in that they verify transactions and ensure the network isn’t processing fraudulent transactions.

These validators are selected to propose a block based on how much crypto they have staked, and how long they’ve staked it for.

Other validators can then attest that they have seen a block. When there are enough attestations, a block can be added to the blockchain. Validators are then rewarded for the successful block proposition. This process is known as “forging” or “minting.”

The main advantage of PoS is that it is far more energy-efficient than PoW, as it decouples energy-intensive computer processing from the consensus algorithm. It also means that you don’t need a lot of computing power to secure the blockchain.

Speaking at Camp Ethereal in March 2022, Lubin said that the impending upgrade will “lay to rest proof-of-work, will lay to rest Ethereum’s carbon or energy footprint problem,” describing Ethereum 2.0 as being “0rders of magnitude less expensive, energetically.”

How will Ethereum 2.0 scale better than Ethereum 1.0?

One of the main reasons for the upgrade is scalability.

The current Ethereum network can only support around 30 transactions per second; this causes delays and congestion. Ethereum 2.0 promises up to 100,000 transactions per second. This increase will be achieved through the implementation of shard chains.

Did you know?

The current Ethereum setup has a blockchain consisting of a single chain with consecutive blocks. This is secure but very slow and inefficient. With the introduction of shard chains, this blockchain is split up, enabling transactions to be handled in parallel chains instead of consecutive ones. This speeds up the network and can scale more easily.

How will Ethereum 2.0 be more secure?

Ethereum 2.0 has been devised with security in mind. Most PoS networks have a small set of validators, which makes for a more centralized system and decreased network security. Ethereum 2.0 requires a minimum of 16,384 validators, making it much more decentralized—and hence, secure.

How could Ethereum 2.0 affect Ethereum’s price?

More scalability means more usage, which, in turn, means more demand. Which—at least in theory—should propel the price of Ethereum to new heights.

“By the time ETH 2.0 and rollups work together there will be 100,000 transactions per second capacity. That’ll mean a completely seamless experience for the next billion people,” Jamie Anson, founder of Nifty Orchard and organizer of Ethereum London, told Decrypt.

Matt Cutler, CEO of Blocknative, is equally optimistic, particularly as gas fees are expected to decrease with the launch of Ethereum 2.0.

“Our customer base sees reducing transaction fees and increasing network throughput as big opportunity areas moving forward,” he told Decrypt.

Moreover, the ecosystem taking notice of major milestones will reinforce Ethereum developer momentum. “This will have a long-term bullish impact on the price of ETH—notwithstanding the short-term volatility, which is part-and-parcel of crypto-asset valuations,” Cutler added.

Ethereum2 is expecting to be out June 2022

Worth watching as this could be the start of the Bull run for bitcoin. Great conversations between Michael Saylor, Anthony Scaramucci and Mark Yusko. These guys know what they are talking about. All on Cryptobanter which is daily YouTube Monday to Friday hosted by CryptoManRan.

LayerZero, now live (in beta) – What is this I hear you ask?

Author – Manish Kumar Singh reports:

LayerZero, the world’s first omnichain protocol, is now in beta. The question of interoperability between different chains is an important one, and LayerZero believes it might have the answer. 

The world’s first omnichain interoperability protocol, LayerZero, is now live in beta. According to Ryan Zarick, Co-founder and CTO at LayerZero Labs, “LayerZero will connect all chains seamlessly, having users unaware that they are even using it.”

He believes that LayerZero will usher in a new omnichain revolution paving the way for omnichain dApps (distributed applications). 

But what is LayerZero, and what does an omnichain interoperability protocol mean?

What is LayerZero?

With 115 layer 1 protocols in existence at the time of writing this article, the blockchain ecosystem is fragmented and siloed. Each blockchain is built with a goal in mind making them all different. This is a good thing as it gives application developers options to choose the right chain for their projects. 

This has also created problems. Users find it increasingly difficult to move their tokens/assets across chains, and developers have to grapple with concerns over interoperability between these chains. 

This is where LayerZero comes in. LayerZero is a set of smart contracts that form a communication framework for applications on different chains to talk to each other. 

The architecture of LayerZero enables communication, not only between two chains, but multiple chains simultaneously.

But isn’t LayerZero just a better bridge? Not at all. The LayerZero whitepaper proposes a general communication layer, a messaging protocol wherein the transactions and the assets are native to each chain. Bridges are just a type of application that can now be built on top of LayerZero to utilize its capability. 

So essentially, you have layer 1 chains that maintain the ledger and layer 2 chains that are used as scaling solutions and now you have LayerZero which allows for seamless communication between any chain.

Source: https://layerzero.network/pdf/LayerZero_Whitepaper_Release.pdf

How does LayerZero work?

To understand how LayerZero works, let us first consider a scenario where a user wants to transfer tokens from one chain to another. For example, if a user wants to move ETH tokens from the Ethereum blockchain to AVAX tokens on the Avalanche blockchain. 

To do this at the moment, a user has to either use a centralized exchange like Coinbase or a cross-chain decentralized exchange (DEX) like Uniswap, both requiring a compromise.

For the compromises, in the case of a centralized exchange, the user has to trust the exchange that is contrary to the trustlessness fundamental of a blockchain also, since these exchanges are not done on-chain, they are insecure.

With a DEX the issue of trustlessness is reduced since these exchanges are done on-chain but it involves converting the user token into an intermediate token (the native token of the DEX) and then converting this token back to the desired token. This process adds additional overhead that translates to slow speed and more cost for the user. 

LayerZero, with its novel communication framework, will help dApps like DEXs to remove this overhead.

The components of LayerZero include:

  1. LayerZero Endpoints. An Endpoint is an interface between a dApp and LayerZero. Each blockchain has its own Endpoint. 
  2. The Oracle, which is a third party service (for example, Chainlink)
  3. The Relayer, which is another service required to fetch proof for transactions.

The main point of this architecture is that the Oracle and the Relayer services are two independently working services required to corroborate the transaction. Since these are independent services, the chances of both of them maliciously colluding are also negligible. This makes it secure, and you do not need to worry about trusting LayerZero as the question of trust is simplified to the independent working on these two.

Even if there was collusion between the Relayer and the Oracle, the risk is only borne by dApps accepting messages from the specific Oracle and Relayer pair. This compartmentalization of risk is an important step forward compared to other cross-chain projects. 

Source: https://layerzero.network/pdf/LayerZero_Whitepaper_Release.pdf

Comparison with other cross-chain projects

Let us see how LayerZero compares with some popular cross-bridge projects and protocols: 

  1. Polkadot: There are design differences between the two. Every inter-chain transaction in Polkadot must travel through a backbone called a relay chain. This adds to the cost of that transaction, unlike LayerZero, which provides the same low-level communication without the need for extra transactions.
  2. THORChain: Since this is a DEX, it converts the user token to its native token called RUNE and then back to the required token. These additional transactions add to the complexity and cost for the user, unlike LayerZero.
  3. Cosmos: Cosmos provides communication only between a group of chains called fast-finality chains, whereas, LayerZero, has no such limitation.

Possible applications on LayerZero

LayerZero, being an inter-chain communication protocol, presents countless possibilities. Here are some of the most common ones:

  1. Cross-Chain DEX: As we have seen above, LayerZero provides a much simpler alternative to existing DEXs which use intermediate tokens, bridging, and wrapping. 
  2. Cross-Chain Yield aggregators: Yield aggregators currently work within single-chain ecosystems and so cannot take advantage of opportunities outside this chain, potentially losing on best yields. With LayerZero as the backbone, it will become easy for yield aggregators to hop from one chain to another.
  3. Multi-Chain Lending: Currently, a user must have the native asset on every chain they want to interact with. If, for example, a user with ETH on Ethereum wants to farm on Avalanche, they would have to go through a series of steps involving bridging and swapping of assets between ETH and AVAX. This is not only time-consuming but expensive as every bridge and swap will incur a fee. With LayerZero, there is no need for bridging and swapping, which makes the entire process simpler, faster, and cheap.

Future of LayerZero

With seemingly endless possibilities, it is not a surprise that many see a great future with LayerZero. 

Recently they released Stargate, the first dApp based on LayerZero that allows users to swap any asset between any chain in a single window which showcases the power of LayerZero.

One thing is certain, these are exciting times, and we need innovations like LayerZero for Web3 to be more user-friendly.

How close are we to virtual shopping?

Well according to this video, we are closer than we think.

Sainsbury’s seems to be leading this incredible world where you shop, pay at the checkouts and viola, your shopping will be delivered.

Let me know what your thoughts about virtual shopping,

Is it good?

Is it bad?

Feedback can be left in the comment box below.

Hello 🙂

Welcome to my blog!

Have you ever had issues with your crypto ending somewhere and you don’t know where the heck its gone. This is frustrating and it does happen more than you think for many reasons.

Then welcome to:

Token Allowance Checker

Total Allowance Checker will check all your transaction for each of your wallets addresses using the long alphanumeric numbers that you use for buying and selling.

There are some DEFI (Decentralized Finance) websites that will help you such as:

https://bscscan.com/tokenapprovalchecker – Binance Token Checker


https://tac.dappstar.io/#/ – Etherium Token Checker plus other tokens that comes under Etherium

My favourite is:

https://blockscan.com/address/ – This website will show all tokens you have and used on a single page. This just saves you from having to go different websites to check.

All you need for all the above to work is your long alphanumeric details which you copy and paste into the search box.

There is a lot of information here so be prepared to get an headache, (only joking) but, you will need to focus and explore. You will of course learn a lot so it is worth a look all the same.

If you want to understand more then take a look at these support website that will give you a more of an understanding.



Watch this space

Jamaica is rolling out its own (CBDC) Central Bank Digital Currency after ‘successful pilot’

Trench Town, Kingston, Jamaica

Caribbean country’s central bank rolls out digital currency worth 230m Jamaican dollars in its pilot

Jamaica will roll out its own digital currency in the first quarter of 2022

So far about 90 countries are exploring their own digital currencies, and 14, including major economies like China and South Korea, are in the pilot stage, according to a tracker by the Atlantic Council.

Despite their similar status to cryptocurrencies as digital assets, experts have pointed that CBDCs are more centralised as opposed to virtual currencies like bitcoin whose basic feature is to be a decentralised asset for monetary transactions.

Watch this space

Big news in Africa


Musician Akon getting in on the act with new crypto coin called Akoin, https://www.akoin.io/ aimed at Africa.

A lot of good work here.

Big plans ahead where Singer Akon has finalized plans to build a 2,000-acre city in Senegal that’s powered by his cryptocurrency, Akoin. Check this out it’s massive.

Watch this space

It seems HMRC are now looking into taxing our crypto currencies.

If you luck enough to have enough to pay taxes, then check out what you need to know.

Hello 🙂

Welcome to my blog!

Its been another challenging week again with crypto currency up and down daily.

Found out recently that Mike Tyson, yes you read right, Mike Tyson has gone all in on Solana. Mike looked at all options and discussed with his 5 million followers who supported Mike in to reaching his decision. In September 2021, he noticeably asked his followers to pick between Solana and Ethereum.

About Solana (SOL)

The price of the coin stands at somewhere between $140 to as high as $150. According to CoinMarketCap, SOL has a market cap of over $45 billion. Despite not being as famous as Bitcoin or Ethereum, it is among the largest cryptocurrencies in the world. Currently, there are roughly 314 million SOL coins in circulation and their overall value rose by a massive 4,495% last year.

Mike Tyson Says He Is 'All In' On Solana Crypto!

Watch this space.

Walmart Could Begin Offering Its Own Cryptocurrency, Launch Virtual Shopping Experience in the Metaverse

Walmart, the US retail giant and the world’s largest company by revenue, appears to be positioning itself for a venture into the world of crypto and non-fungible tokens (NFTs). Based on trademark documents the retail giant filed in December 2021 with the US Patent and Trademark Office (USPTO), the company is also laying the groundwork to create its own cryptocurrency to contend with the likes of Bitcoin and Ether. This isn’t the first time we’ve heard rumblings from Walmart related to the crypto market, but if things do turn out the way it seems, we could see crypto adoption in the retail segment shoot through the roof.

In saying that Walmart is not the first as XRP can now be used to pay online at Croatia’s largest supermarket chain.

Konzum, which is the largest supermarket chain in Croatia, recently made a very interesting announcement that largely went unnoticed in the XRP community.

Konzum has over 700 physical stores in Croatia and over 10,000 employees. The first Konzum store was opened in Zagreb in 1957.

According to the notice posted on the Konzum website on December 1, the company is now making it (i) possible to buy crypto (no commission) at its online store; and (2) possible to pay with crypto for the products on offer at its online store .

The supported cryptoassets are Bitcoin ($BTC), Ether ($ETH), Bitcoin Cash ($BCH), $EOS, $DAI, $XRP, Stellar Lumen ($XLM), Tether ($USDT) and $USDC .

Bitcoin coming to a cash machine near you: 16,000 ATMs across Britain to offer exchange of the cryptocurrency via an app

  • Crypto firm BitcoinPoint has struck a deal with cash machine operator Cashzone
  • Bitcoin holders can now sell their Bitcoin at 16,000 ATMs across the country 
  • They need to register with an app and can cash out between £10 and £500 

At this moment total number of Bitcoin ATMs / Tellers in United Kingdom: 106

List of major cities in United Kingdom with bitcoin ATM installations:

Aberdeen 1,Basildon 1, Belfast 1, Birmingham, UK 13

Brighton UK 1, Bristol 1, Cardiff 2, Chelmsford 2, Dundee 1

Edinburgh 3, Glasgow 2, Kingsbridge 1, Leeds 1,

London, UK 58, Manchester (UK) 9, Newcastle upon Tyne 1

Oxford 3, Plymouth 2, Reading 1, Southampton 1,

Southend-on-Sea 1

Watch this space as more will be added within the UK.

Did you know that Sotheby’s are selling NFT’s.

If you are lucky enough to be a creator then this is another option to sell, although check what the costs are before you do. Sotheby’s

Hello 🙂

Welcome to my Blog!

I am really excited to be able to add exciting information right hear for you all to read. My thoughts and my concerns I will share, but I am not an expert on any one subject, so please be kind.

I am most interested in the Crypto World, Crypto Currencies, Blockchain and DeFi (Decentralized Finance). NFT (non-fungible token) is also of interests but I still need to understand more.

Please check out my NFT sitting on opensea page, MY NFT

  • 2022 will bring some challenges in both directions. There is lots of talks from the feds in regards interest rates and inflation. The war that is going on in Kazakhstan. Covid 19 and the economy. Which are all having an affect on the big B, Bitcoin, which also then as an affect on the rest of the Crypto Currencies. In saying that there are many large companies are holding out and not only holding out, but, are still purchasing more bitcoins. Its certainly volatile at the present and may go on for a little further. Michael Saylor and Robert Breedlove who are saying just hold tight as the market will change as nothing can stop the rise of Bitcoin.