Ethereum news

Sunstock Inc. Announces Update on Plans to Accept Ethereum

Sunstock Inc. Announces Update on Plans to Accept Ethereum

SACRAMENTO, Calif., March 03, 2021 (GLOBE NEWSWIRE) — Sunstock Inc. (OTC: SSOK), involved in the buying, selling and distribution of precious metals, today announces that its legal counsel is establishing the procedures necessary for the Company to use the Ethereum network as a payment option.

As previously announced, Mom’s Silver Shop, located in Sacramento, Calif., in coming months will allow investors and customers to make transactions using Ether. Sunstock’s legal team is managing the setup and execution of the new payment method, which Company management believes will increase revenues, reduce processing fees, and attract more clients.

“We are pleased to announce that we remain on track to accept certain cryptocurrency for gold, silver and rare coin purchases beginning in June of 2021,” stated Sunstock CEO Jason Chang. “Our legal counsel is diligently working to ensure we are efficient, prepared and capable of offering flexible payment options to our customers and investors. Demand for precious metals remains strong, and as we continue to build our inventory of gold and silver, we are also anxious to open a new revenue stream and integrate digital assets.”

About Sunstock Inc.:

Sunstock Inc. (OTC: SSOK) is involved in the distribution of precious metals, primarily gold. The Company pursues a “ground to coin” strategy, whereby it uses its wholesale and retail channels to sell these precious metals primarily through its own branded coins. For more information, visit the Company’s website at www.SunstockInc.com

Forward-Looking Statements

In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company’s future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company’s business units or the market price of its common stock. Additional factors that could cause actual results to differ materially from those contemplated within this press release can also be found on the Company’s website. The Company disclaims any responsibility to update any forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to differ materially from any forward-looking statement.

Contact:
Mr. Jason Chang, CEO
Enquiry@SunstockInc.com
916-860-9622
www.SunstockInc.com

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Source: www.globenewswire.com

Author: Sunstock, Inc.


Daily Cryptocurrency News! Bitcoin, Ethereum, & Much More Crypto Content (February 25th, 2021)

Daily Cryptocurrency News! Bitcoin, Ethereum, & Much More Crypto Content (February 25th, 2021)

Source: cryptolearningvideos.com

Author: by admin


Ethereum now available on Amazon’s blockchain service

Ethereum now available on Amazon’s blockchain service

Amazon Web Services (AWS), the cloud computing platform providing subsidiary out of the multinational technology company Amazon, announced today that Ethereum is now available on its Amazon Managed Blockchain service.

AWS users can now set up Ethereum nodes and join the public Ethereum main network on the Amazon Managed Blockchain. 

“With this launch, AWS customers can easily provision Ethereum nodes in minutes and connect to the public Ethereum main network and test networks such as Rinkeby and Ropsten,” Amazon said in its blog post. “With Amazon Managed Blockchain, customers get secure networking, encryption at rest and transport, secure access to the network via standard open-source Ethereum APIs, fast and reliable syncs to the Ethereum blockchain, and durable elastic storage for ledger data.”

Amazon first began providing blockchain-related services back in 2019, which gave customers initial access to blockchain networks, nodes, decentralized applications, and smart contracts. In addition to Ethereum, Managed Blockchain also supports Hyperledger, a permissioned blockchain software developed by a consortium of companies and organizations.

This service was first only available to customers on the East Coast of the United States, but now customers can access Ethereum across the AWS regions in the Eastern U.S., Asia Pacific, and Europe.

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Source: coingraph.uno


Ethereum or Bitcoin? Experts answer

Ethereum or Bitcoin? Experts answer

Decentralized finance is one of the most promising and indeed the fastest growing ecosystems within the crypto and blockchain space. Total value locked in DeFi — a measure of the total value of assets committed to the DeFi ecosystem — has been approaching the $40-billion mark this month, which indicates a value increase of around 200 times since February 2019. And 2021 has just started, promising some major developments for the DeFi space. 

Related: Was 2020 a ‘DeFi year,’ and what is expected from the sector in 2021? Experts answer

DeFi has made a lot of changes in our world. Some argue it has started the shift to real decentralization; from the rise of the Web 3.0 movement to decentralized governance, others see it as the solution to the broken legacy finance and the future of banking.

Despite all the benefits that DeFi offers, there are some problems and challenges that should be addressed. The future success of the ecosystem depends on accurate and secure data that is free from manipulation and thus less vulnerable to exploits, which requires the implementation of quality-control mechanisms. Improving transaction speeds and the peer-to-peer aspect also remain among the important issues in order to gain wider adoption and sustainability to the industry.

Meanwhile, the major obstacle for DeFi development remains the constantly increasing gas fees on Ethereum, which were above $1,000 this month. And while the long-awaited Ethereum 2.0 transition, which aims to address this problem, “will save the day,” some argue that DeFi users shouldn’t wait for Eth2 to prove what it claims it can do.

Related: The Ethereum 2.0 factor: Changing the way DeFi projects operate

Undoubtedly, Ethereum has been overtaking Bitcoin (BTC) as the leading DeFi protocol infrastructure and network. Nonetheless, some experts state that “it’s hard to imagine a future where BTC is not used in DeFi products,” while others claim that Bitcoin “will eventually be forced to break its 21-million supply limit to remain sustainable and relevant” as DeFi keeps growing and flourishing. Cointelegraph reached out to experts in the DeFi space for their opinions on the following question: Will DeFi remain almost exclusively on Ethereum, or will it become big on other layer ones, or will new projects adding smart contracts to Bitcoin steal some thunder?

“But, isn’t the question answered? DeFi is already on other chains. Doesn’t seem hypothetical.”

“While Ethereum has been the innovator of smart contracts, its extensive infrastructure size makes it a slow mover regarding necessary changes it has to make to adapt to users’ needs in the current market. Gas fees have been continuously on the rise since DeFi bloomed up, and since the amount of fees spent on the Ethereum network reached its all-time high, it’s been contributing to others taking a piece of the pie. Let’s not forget, for many smaller retail investors, the current gas fees on the Ethereum network can be higher than the annual percentage yield they would gain from staking a full year.

Sure, we have projects such as Stacks 2.0 with hopes to make Bitcoin programmable, but I think Bitcoin’s main functionality will stay unchanged as a long-term store of value asset. This functionality is the most sought-after since Bitcoin remains the largest market-dominant cryptocurrency today.

I think winners in the DeFi space will be fast movers with robust technology, such as Project Serum built on the lightning-fast Solana blockchain with much cheaper transaction fees that back it up with massive liquidity, and interoperable with Ethereum and Bitcoin. And as long as the dominant cryptocurrency exchanges support direct withdrawal to these sets of assets, they will flourish.”

“DeFi was started with the ethos of open permissionless access that drives competition and ultimately better financial products for more people around the world. We’ve seen it with Uniswap/SushiSwap, stablecoin battles, etc., and that competition is a good thing and should be encouraged.

Will we see DeFi on other chains? Yes, of course.

But just as Bitcoin has ‘won’ the store-of-value use case for crypto, Ethereum has a massive lead in the ‘permissionless settlement’ use case. You can see it in stablecoin usage/volumes (ETH dwarfs other L1s) and cross-chain bridges that always include Ethereum mainnet. So, we’ll see other L1s and L2s aggressively add DeFi products but most (if not all) will be bridged back to Ethereum for ultimate, censorship-resistance settlement. We believe we’re at the very beginning of a decade-long cycle of innovation and killer apps in the DeFi space across a number of different L1 and L2 blockchains.”

“Ethereum continues to be the primary interest of serious builders in the industry, but it’s clear that other layer ones are starting to accrue interest and talent. In our view, the four most important layer ones right now are Polkadot, Avalanche, Binance Smart Chain and Solana, respectively. Polkadot has the largest concentration of real teams building DeFi applications that could see real volume. We are already working with Reef Finance and Tidal Finance to integrate into their yield farming and insurance pools. We’re working with the Avalanche team to deploy our smart contracts on their chain. Lastly, we are likely deploying on BSC in the near future. BSC has substantial wash trading volume, but we also see real activity and yields based on our conversations with farmers at the vanguard of the ecosystem. The fact that BSC leverages the developer tooling and wallet infrastructure of Ethereum makes it attractive in the medium term, though we have concerns longer term regarding its centralized nature.”

“I believe DeFi will remain on Ethereum, and if it moves to a more scalable layer one, it will most likely be a winner-takes-all scenario.”

“Most of the DeFi is headquartered on Ethereum, including Aave Protocol. The recent congestion on Ethereum of course has sparked some additional interest on L2 solutions and side-chains, such as Matic, that has been getting recently lot of traction. These solutions do reduce the network fees and might work well on parallel with Ethereum. I don’t think Bitcoin will have smart contracts at least for a long time. It would require changes on the protocol itself and the Bitcoin community to have a consensus on such a decision.”

These quotes have been edited and condensed.

The views, thoughts and opinions expressed here are the authors’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Source: coingraph.uno


Ethereum or Bitcoin? Experts answer

Ethereum or Bitcoin? Experts answer

Decentralized finance is one of the most promising and indeed the fastest growing ecosystems within the crypto and blockchain space. Total value locked in DeFi — a measure of the total value of assets committed to the DeFi ecosystem — has been approaching the $40-billion mark this month, which indicates a value increase of around 200 times since February 2019. And 2021 has just started, promising some major developments for the DeFi space. 

Related: Was 2020 a ‘DeFi year,’ and what is expected from the sector in 2021? Experts answer

DeFi has made a lot of changes in our world. Some argue it has started the shift to real decentralization; from the rise of the Web 3.0 movement to decentralized governance, others see it as the solution to the broken legacy finance and the future of banking.

Despite all the benefits that DeFi offers, there are some problems and challenges that should be addressed. The future success of the ecosystem depends on accurate and secure data that is free from manipulation and thus less vulnerable to exploits, which requires the implementation of quality-control mechanisms. Improving transaction speeds and the peer-to-peer aspect also remain among the important issues in order to gain wider adoption and sustainability to the industry.

Meanwhile, the major obstacle for DeFi development remains the constantly increasing gas fees on Ethereum, which were above $1,000 this month. And while the long-awaited Ethereum 2.0 transition, which aims to address this problem, “will save the day,” some argue that DeFi users shouldn’t wait for Eth2 to prove what it claims it can do.

Related: The Ethereum 2.0 factor: Changing the way DeFi projects operate

Undoubtedly, Ethereum has been overtaking Bitcoin (BTC) as the leading DeFi protocol infrastructure and network. Nonetheless, some experts state that “it’s hard to imagine a future where BTC is not used in DeFi products,” while others claim that Bitcoin “will eventually be forced to break its 21-million supply limit to remain sustainable and relevant” as DeFi keeps growing and flourishing. Cointelegraph reached out to experts in the DeFi space for their opinions on the following question: Will DeFi remain almost exclusively on Ethereum, or will it become big on other layer ones, or will new projects adding smart contracts to Bitcoin steal some thunder?

“But, isn’t the question answered? DeFi is already on other chains. Doesn’t seem hypothetical.”

“While Ethereum has been the innovator of smart contracts, its extensive infrastructure size makes it a slow mover regarding necessary changes it has to make to adapt to users’ needs in the current market. Gas fees have been continuously on the rise since DeFi bloomed up, and since the amount of fees spent on the Ethereum network reached its all-time high, it’s been contributing to others taking a piece of the pie. Let’s not forget, for many smaller retail investors, the current gas fees on the Ethereum network can be higher than the annual percentage yield they would gain from staking a full year.

Sure, we have projects such as Stacks 2.0 with hopes to make Bitcoin programmable, but I think Bitcoin’s main functionality will stay unchanged as a long-term store of value asset. This functionality is the most sought-after since Bitcoin remains the largest market-dominant cryptocurrency today.

I think winners in the DeFi space will be fast movers with robust technology, such as Project Serum built on the lightning-fast Solana blockchain with much cheaper transaction fees that back it up with massive liquidity, and interoperable with Ethereum and Bitcoin. And as long as the dominant cryptocurrency exchanges support direct withdrawal to these sets of assets, they will flourish.”

“DeFi was started with the ethos of open permissionless access that drives competition and ultimately better financial products for more people around the world. We’ve seen it with Uniswap/SushiSwap, stablecoin battles, etc., and that competition is a good thing and should be encouraged.

Will we see DeFi on other chains? Yes, of course.

But just as Bitcoin has ‘won’ the store-of-value use case for crypto, Ethereum has a massive lead in the ‘permissionless settlement’ use case. You can see it in stablecoin usage/volumes (ETH dwarfs other L1s) and cross-chain bridges that always include Ethereum mainnet. So, we’ll see other L1s and L2s aggressively add DeFi products but most (if not all) will be bridged back to Ethereum for ultimate, censorship-resistance settlement. We believe we’re at the very beginning of a decade-long cycle of innovation and killer apps in the DeFi space across a number of different L1 and L2 blockchains.”

“Ethereum continues to be the primary interest of serious builders in the industry, but it’s clear that other layer ones are starting to accrue interest and talent. In our view, the four most important layer ones right now are Polkadot, Avalanche, Binance Smart Chain and Solana, respectively. Polkadot has the largest concentration of real teams building DeFi applications that could see real volume. We are already working with Reef Finance and Tidal Finance to integrate into their yield farming and insurance pools. We’re working with the Avalanche team to deploy our smart contracts on their chain. Lastly, we are likely deploying on BSC in the near future. BSC has substantial wash trading volume, but we also see real activity and yields based on our conversations with farmers at the vanguard of the ecosystem. The fact that BSC leverages the developer tooling and wallet infrastructure of Ethereum makes it attractive in the medium term, though we have concerns longer term regarding its centralized nature.”

“I believe DeFi will remain on Ethereum, and if it moves to a more scalable layer one, it will most likely be a winner-takes-all scenario.”

“Most of the DeFi is headquartered on Ethereum, including Aave Protocol. The recent congestion on Ethereum of course has sparked some additional interest on L2 solutions and side-chains, such as Matic, that has been getting recently lot of traction. These solutions do reduce the network fees and might work well on parallel with Ethereum. I don’t think Bitcoin will have smart contracts at least for a long time. It would require changes on the protocol itself and the Bitcoin community to have a consensus on such a decision.”

These quotes have been edited and condensed.

The views, thoughts and opinions expressed here are the authors’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Source: news.lazyhackers.in


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