“‘At first I just want to try its legitimacy, and after a week of playing I was amazed with my first income,’ said Inton, who is currently earning around 10,000 PHP ($206) per week from playing the game around the clock.
Inton soon invited his family to play, too, and after a few weeks, he also started telling his neighbors. Now, there are more than 100 people in his local community playing to earn on Axie, including a 66-year-old grandmother.
To a crypto investor, gaining $300 or $400 a month might not mean that much, but for these people it means the world.
It’s food on the table, it’s money for their families and it’s saving them when they cannot even leave the house during this pandemic.
The COVID-19 crisis, which has confined people to their homes and limited the usual opportunities to earn an income, combined with the compelling nature of the Axie game itself, has encouraged people who might not usually play with dapps to do just that.
There are a number of ways to make money with Axies. For new players, the most common method is by earning the utility token, small love potion (SLP), and selling it via a liquidity pool at the decentralized trading platform, Uniswap. Issued as a reward when Axies win battles, SLP is in demand because it’s required to get a couple of Axies in the mood to breed.
For more seasoned players, or those with greater risk appetite, higher returns can be made by trading the Axies themselves.”
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“Oasis Pay is a decentralized payments system that uses a layer-2 scaling solution (one that moves transactions off-chain from the layer-1 Ethereum network) to make fast Dai transfers, easily.
Think of it as a type of decentralized PayPal that allows fast, trustless, and safe Dai payments. It’s even possible to lock funds in the DSR with Oasis Pay.”
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“Nazarov said DECO can be used as a foundation for a few crypto wish list items, such as permissionless credit or decentralized identification. DECO could one day allow a smart contract to query off-chain credit information such as banking records without overreaching into personal data.
For example, he said DECO can prove a person is over 18 by pulling data from a DMV while hiding the individual’s birth date.
DECO is also useful for users who want to monetize their own data (and therefore prove that they are indeed providing correct data) without giving away anything but the data that they are selling.
This privacy is possible through DECO’s incorporation of zero-knowledge proofs. Moreover, Chainlink co-founder Sergey Nazarov and Juels have begun drafting a second Chainlink white paper.
DECO is the way a lot of collateral will make its way to DeFi.”
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“With Upfiring 1.2.2, seamless decentralized P2P file-sharing is now possible on the Ethereum blockchain.
With our product ready for user adoption, the project’s focus will be shifting towards towards community growth and marketing for the second half of 2020. Upfiring 1.2.2’s release will ensure the dapp is ready for a growing userbase of downloaders and seeders in the coming weeks.”
“Although RenVM says it is “powered by decentralized virtual machines,” all of the user funds for the project—more than 9,000 Bitcoin—sit in a single wallet controlled by the RenVM team. Moreover, the company currently controls all the nodes to its network, as it is still transitioning away from a centralized system.
The Ren team responded today with a Medium post of their own, outlining the path laid out for achieving decentralization while navigating the risks and challenges of setting up brand-new technology responsible for hundreds of millions in crypto value.
Ren says it is strongly incentivized to operate in good faith until it can transition to the more decentralized structure it’s planned all along.”
“Inspired by fair launch capital we have developed a new kind of tooling, Delegated Funding DAO Vaults.
Funders provide YFI into the fair launch Vault. Teams wishing to apply for funding need to setup a gitcoin grants page, and apply via gov.yearn.finance. If approved governance can set a weekly/monthly/yearly credit limit that the applicant can draw from via yborrow.finance. This is achieved with credit delegation.”
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“A step by step guide on how to become an Eth2 validator on the Medalla testnet. Here’s what this guide covers:
- Recommended hardware
- Choosing & Installing Your Client
- Setting up an Eth1 Node
- Using the Eth2 Launch Pad
- Bonus content and resources”
“The brief availability of the wallet shows the Chinese commercial bank has been working towards adoption for the digital yuan initiative.
The wallet’s interface showed each user that had activated the service was assigned to a specific wallet ID, which could be used to make transactions between the wallet and users’ CCB bank accounts. In addition, users could also send and receive digital yuan to each other by putting in either their unique wallet ID addresses or an associated mobile phone number.
It remains to be seen when these banks will officially open up the services to the public and whether the wallets will enable more applications that can use the digital currency.”
“For the first time ever, more money is being traded on decentralized exchange Uniswap than on Coinbase Pro.
Decentralized ERC20 exchange Uniswap today hit new highs—with a 24 hour trading volume of over $441 million. That’s nearly 20% higher than Coinbase Pro’s trading volume, which stood at over $373 million today.”
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“The attack reorganized over 7,000 blocks, or two days’ worth of mining. The first two attacks reorganized 3,693 and 4,000 blocks.
Notably, a leading organization behind the Ethereum Classic network, ETC Labs, announced its strategy to protect the network from additional attacks last week.
Following the latest attack, leading cryptocurrency derivatives exchange FTX will reconsider its ETC perpetual futures contracts. OKEx responded by saying it will consider delisting the asset due to the network’s severe lack of security.”