The post Quantum Computing: A New Algorithm to Crack Encryption first appeared on The Shib Magazine.
]]>Welcome to the quantum playground, where the rules of computing as we know them are bent, twisted, and entangled like that pile of clean and dirty clothes you keep on your chair.
Today, we’re diving into the world of quantum computing’s potential to crack encryption and a new algorithm that’s making the crypto world shiver with excitement (or maybe fear?).
But before we get too deep into the quantum waters, let’s address the elephant in the room: What the heck are quantum computers good for?
We’re still figuring out the precise applications for quantum computing. Sure, they might turbocharge optimization and machine learning, but to what extent?
One thing we can be pretty certain about is that quantum computers have the potential to turn our cozy cryptographic schemes into Swiss cheese. The math behind quantum computing is practically Kryptonite to classical computers, but for a powerful quantum machine, it’s more like a stroll in the park – the kind of stroll that leaves the OG blockchain security in shambles.
Thankfully, our saving grace has been that today’s quantum processors are still baby steps away from the quantum juggernauts needed for these cryptographic nightmares.
Cannot/Will Not Wait…
However, Science.org reports that a New York University computer scientist, Oded Regev, has thrown a wrench into the “wait for quantum to catch up” plan.
Regev’s approach involves giving Peter Shor’s legendary quantum algorithm a makeover. You see, back in 1994, Peter Shor figured out how to find prime numbers that, when multiplied together, give us a particular number – a problem known as prime factoring. This problem is like a Rubik’s Cube on steroids for classical computers, which is why it’s the basis for the widely used RSA encryption.
But Shor, with the magic of quantum phenomena like superposition and entanglement, made it look like child’s play. His algorithm can solve these problems even for ginormous numbers, which sends shivers down the spines of security experts.
Now, we’ve had post-quantum encryption standards as our backup plan, but implementing them across the web could take eons. Why? Because most of the current encryption relies on keys that are equivalent to numbers with more digits than Leonardo DiCaprio would get at a frat party. It would take a quantum computer with a 2048-bit RSA number, which is 600+ digits long!
But here’s where Regev’s new algorithm comes into play. He’s revamped Shor’s algorithm in a way that needs fewer logical steps, making the quantum computer’s job easier.
It’s like giving your computer a quantum shortcut. In Shor’s original algorithm, the number of gates required for the factoring process grows exponentially with the size of the number. Regev’s approach is like finding a quicker path through a maze.
In fact, Regev estimates that for a 2048-bit number, his algorithm could reduce the number of gates required by two to three orders of magnitude. But there are practical limitations. His algorithm might require extra quantum memory, which means more qubits and potentially eating into its computational advantage.
3 Current Myths about Quantum Computers
- Quantum computers are going to replace regular computers. Google scientists had achieved “quantum supremacy”, where a quantum computer outperformed a regular one on a hard task. But it appears that the task was extremely artificial, and although a quantum computer has won a race with a classical supercomputer, the practical implications are minimal. More likely than not, the future is about hybrid systems with both classical and quantum capabilities.
- Quantum computers will wreck internet security. Security
depends on hard problems, such as factorization – finding the two prime numbers that must be multiplied together to produce a third. Using a classical computer to break a 2048-bit key would take many thousands of years. However, quantum computers with around 100,000 qubits could do this job in seconds. This is promising but still a long way to go. We can only manage around 50 qubits at present, and mathematicians are already working on new ways of doing cryptography that cannot be cracked so easily by a quantum machine. - Quantum communication will allow for instant information transfer. Quantum particles can be entangled, meaning that states of two particles can be connected regardless of the distance between them. And while quantum teleportation is a thing, it still depends on classical communication which can’t be faster than light.
The Bottom Line
Quantum computing’s threat to encryption isn’t a stationary target. It’s a moving goalpost, and we’re trying to keep up. Shifting to post-quantum schemes can’t happen fast enough. In the quantum race, it’s not just about running; it’s about leaping into the future before the quantum cheetah catches up with us.
And on that note, let’s all keep our fingers crossed that this quantum leap won’t land us in encryption trouble. Remember, in the quantum world, even the laws of humor get entangled, so stay tuned for more tech tales from the quantum realm!
The post Quantum Computing: A New Algorithm to Crack Encryption first appeared on The Shib Magazine.
]]>The post The State of Crypto (Pt. 3) first appeared on The Shib Magazine.
]]>What should you look out for in the crypto industry in 2024?
Find the best narratives and events in this non-exhaustive summary.
ETFs Are a Go
The SEC (and Gary Gensler) have been delaying all applications from traditional funds, such as Fidelity, Grayscale, and Valkyrie. But finally, on January 10, 11 ETF applications were accepted and the first orders arrived as soon as January 11.
Bitcoin ETFs had more assets than silver ETFs the instant the U.S. Securities and Exchange Commission approved them last week and trailed only behind gold among commodity-focused U.S. ETFs. Thanks to the conversion of the existing Grayscale Bitcoin Trust into an ETF, there was immediately almost $30 billion stashed in Bitcoin ETFs. The only commodity that remains more popular is gold (often called non-digital bitcoin) with roughly $95 billion.
That might be a good indicator of the appetite of traditional investors in crypto for the upcoming year.
Bitcoin Halving
The amount of BTC earned from mining Bitcoin set a new record in November, and now the countdown to the next “halving” is now in its final months.
Bitcoin rewards reached approximately £34 million per month in late 2023.
But April 2024 will mark a once-every-four-years event that effectively halves the rate of the cryptocurrency’s supply as the reward that miners earn for adding a block to the Bitcoin blockchain is halved.
From that point, the current reward of 6.25 BTC will fall to 3.125 BTC, massively reducing the rate at which new coins are minted.
In the 12 months prior to the last halving in 2020, the price of Bitcoin rose by 83% from around £3,000 to roughly £5,500 as traders bet on a supply squeeze, pushing up the value of the asset in a sort of self-fulfilling prophecy.
Note: The amount of BTC on exchanges has never been so low. This could indicate one hell of a supply squeeze if big amounts of token were to be bought.
In April 2023, Bitcoin traded for around $20,000. As of this writing (January 2024), one Bitcoin is valued at approximately $41,000.
If current prices were to hold and we saw the same kind of post-halving rally in 2024 as we did in 2020, prices could hit $80,000 – levels we haven’t seen since November of 2021. However, this theory should not be relied upon, as there have been many price fluctuations and all cryptocurrencies including Bitcoin have experienced high volatility throughout this time. And it will also depend on macroeconomic factors, such as CPI inflation numbers, the evolution of wars around the world, and the state of the global supply chain.
ETH Dencun Upgrade
Relative to other tokens, Ethereum is currently underperforming. We think this could change in Q1 of 2024. Ethereum’s next upgrade, the Dencun upgrade, is tentatively scheduled for January 2024. It will be a catalyst that brings attention to the Ethereum ecosystem. The Dencun upgrade will implement “Proto-Danksharding”.
This means that the cost of rollups to settle onto Ethereum will be reduced by more than 90%, which is a gigantic reduction. This, in turn, will make L2s more competitive with Alt-L1s, such as Solana and Avalanche, and activity in the Ethereum ecosystem will likely rise. And this, of course, will benefit $ETH as well. Recently, the TVL of Ethereum L2 has overtaken those of other L1s (combined) for the first time.
Crime Crackdown
Most of the big hacks that happened recently either got solved by white hacking (rewarding the hacker after the hack) or collaboration between CEXs and national authorities, which led to multiple accounts linked to hacks and scams being frozen.
Don’t forget that (almost) everything is traceable on the blockchain.
The increasing regulation and policing of crypto markets could also be a boon next year, adding more legitimacy to an industry not renowned for its safeguarding.
For example, the UK government recently announced an agreement with 48 countries to tackle the problem of people using crypto to avoid tax.
Investors Are Warming Up, Inflation Is Cooling Down
The increasing credibility being lent to crypto markets by the likes of BlackRock, major banks, and regulators appears to be boosting investor sentiment to some extent.
Fear and greed indices are sometimes used to gauge investor sentiment and appetite. Such indices can give us a sense of how investors are likely to act and the impact it might have on markets.
The abatement of inflation in the U.S. and in other developed countries and its implications for interest rates will surely also have an effect on crypto this 2024.
On November 14th, the U.S. Federal Reserve announced that inflation had fallen to 3.2% in October, down from 3.7% in September. The figure was slightly lower than expected and saw the prices of U.S. stocks and bonds skyrocket.
Cryptocurrencies like Bitcoin are often seen as a hedge against inflation due to their limited supply. In 2024, as inflation concerns persist, more individuals and institutions may turn to cryptocurrencies as an alternative investment option.
As we progress towards the rest of 2024, the fate of crypto remains uncertain. However, with technological advancements, regulatory developments, and economic implications set to shape the industry, the future of cryptocurrency promises to be a thrilling and transformative journey.
With inflation largely tamed in the U.S. and with interest rates unlikely to rise as a result, the squeeze that characterized much of 2023 may be over.
The Role of Government Regulations
Government regulations play a vital role in the development and acceptance of cryptocurrency. In 2024, governments worldwide will likely continue to implement regulatory frameworks to ensure crypto’s legitimacy, prevent fraud, and protect investors. These regulations may include measures such as Know Your Customer (KYC) requirements, Anti-Money Laundering (AML) policies, and licensing requirements for crypto service providers.
Furthermore, governments may explore the creation of central bank digital currencies (CBDCs) as a means to maintain control over monetary policy and enhance financial inclusion. CBDCs are digital representations of a country’s fiat currency and can provide benefits, such as faster and cheaper transactions, increased transparency, and improved financial access for unbanked populations.
However, striking the right balance between regulation and innovation remains a challenge. Governments must ensure that regulations are proportionate, flexible, and adaptable to the rapidly evolving crypto landscape. Collaboration between governments, industry participants, and regulatory bodies will be crucial to foster an environment that encourages responsible innovation while mitigating risks.
El Salvador was the first country in the world to legalize $BTC as legal tender. Will another country make headlines in 2024 for the same?
Eyeing you, Argentina.
Nigeria also recently unbanned the use of BTC in the country after enacting a firm ban back in 2021. Will it be the beginning of the normalization of crypto across international payment systems?
The EU also voted on MiCa (to be developed) which should be implemented in EU countries by 2026-2027. This would regulate digital assets in Europe even if some whistleblowers are warning against it, saying the regulations could be too strict and drive away crypto startups.
That’s it for the State of Crypto review.
If you have found my writings useful or entertaining, feel free to follow me on X: @Risjo_xyz
The post The State of Crypto (Pt. 3) first appeared on The Shib Magazine.
]]>The post Shib: Recap of the Year first appeared on The Shib Magazine.
]]>As we welcome the New Year, we’re closing a chapter in our journey and are standing on the precipice of inviting a new era for growth and innovation. But before that, let’s take a moment to reflect on the highlights of Shib in 2023. Let’s look back and see how far we’ve come and appreciate the tremendous strides we have made together as the Shib Army.
Shib’s Involvement in Major-League Events and Conferences
SXSW 2023: On March 10, Shib: The Metaverse’s WAGMI Temple Hub debuted at the South by Southwest (SXSW) Festival, giving the attendees a sneak peek at the Metaverse hub. The following day, Shytoshi Kusama shared a photo of the poster that was entered into the movie poster competition of the festival.
Over the next three days, a Shib booth (Booth 701) was displayed at the SXSW venue in Austin, Texas, and it was among the most-anticipated parts of the event. True enough, it became a sensation, especially with the Shibarium beta version freshly released just a week prior. The Shib booth became a “popular spot” during the festival, according to a post shared by TheCryptoNews.
Outer Edge: Shib was also a part of the Next-Gen Storytelling event at Outer Edge LA on March 20, which highlighted the convergence of Web3, storytelling, metaverse, and the creative process behind it. Among the panel members was Marcie Jastrow, who talked about building metaverses, the importance of P2P in Web3, and the community’s role in the realization of the vision for Shib: The Metaverse.
NAB Show: Every year, the NAB Show brings together professionals from the entertainment industry, content creators, and technology innovators. In 2023, part of the program was the presentation of Shib’s crucial function in the digital revolution through VR, XR, and other technological advancements.
Consensus 2023: Not to fall behind on prestigious conferences making way for Shiba Inu, the Consensus 2023 experience was a blast. Marcie represented the Shib community at the conference, which took place from April 26 to 28, driving even more interest from the entertainment industry and presenting more opportunities for Shib.
ETHToronto: ETHToronto is inarguably a major event that helped to further Shib’s impact on the blockchain world. Shiba Inu was the official title sponsor for the ETHWomen conference in ETHToronto and the Blockchain Futurist Conference, Canada’s largest blockchain conference, on August 15 to 16. Shibacals, Shib’s IRL auxiliary, showcased over 50 toys and authenticated collectibles during the event, making the Shib booth a showstopper once again among the thousands of attendees.
But perhaps the biggest part of the conference was the keynote speech spearheaded by Shytoshi Kusama, which was delivered in the form of a 17-minute video. The keynote chronicled Shib’s achievements thus far and the future plans set forth for the ecosystem, including Shibdentity, Shib: The Metaverse, Shiboshi NFTs, Shibacals, and the framework for a decentralized digital global state with a dependable governance system. Members of the Shiba Inu core team spoke one by one, starting with Shytoshi revealing, for the first time, the release of the Shibarium mainnet.
CoinAgenda: CoinAgenda speaking events are an avenue where you can find the who’s who in blockchain and crypto, and it happens in different places around the world multiple times a year. The events worth highlighting are CoinAgenda Global 2023 (October 4-6), where Shib was part of the Metaverse panel, and CoinAgenda Caribbean 2023 (December 11-13), where one of the main events was a featured presentation tackling the Shiba network state and the Web3 SuperApp.
Shibarium Launch
On August 16, which was also the last day of ETHToronto, the Shibarium mainnet was officially launched. This layer-2 network which was deployed to Ethereum is designed to address the common scalability issues users encounter and provide opportunities to those who want to build projects on Shib’s own blockchain. What differentiates Shibarium from other scaling solutions, as Shytoshi emphasized shortly after the launch, is that it fuels Shib’s governance and the Shiba State framework.
PartnerSHIBs and Frens + The Shib Magazine
Shib has established “partnershibs” with numerous amazing projects that have a common objective for the ecosystem. These collaborations demonstrate Shib’s impetus for instigating and nurturing connections with like-minded organizations, brands, and industries that will benefit the community. In 2023, Shib announced its official partnership with the Manny Pacquiao Foundation and D3, with the overview of each partnership presented in their own exclusive feature articles in The Shib magazine.
On the subject of articles, the team has featured several projects that Shib supports and that support Shib as well in the recently launched community-oriented tech magazine, The Shib. At the forefront of these special features is Welly, Shib’s partner in the fast-food industry and one of its pioneering true-blue partnershibs. Following this, the community has seen a couple of other remarkable projects grace the cover of the magazine, including CoinMerge, Marswap, and ‘MareBears by RSTLSS. Each one of these projects offers equally beneficial opportunities to the Shib Army in various capacities.
Shib: The Metaverse
Since their last update, the metaverse team has made significant strides in advancing the development of this project, particularly in aspects that are not immediately visible but are crucial for something this huge. The majority of this project is underpinned by complex systems including blueprinting, servers, and infrastructure that require meticulous attention.
In recent months, the team has focused on several key areas to prepare for the Alpha release. These include the chat and voice messaging service, the Avatar Builder, the Plot Builder, and the metaverse’s own AI systems. They’ve started exploring Artificial Intelligence for integration into future updates and to ensure a strong foundation for the live version. This includes tools not only for NPCs but also for design-related aspects, such as “text to 3D” for use in marketplaces and Plot Builder design tools. Engine upgrades have also been made during the development process.
At the moment, the metaverse team is hard at work on the first build for the Alpha version and is preparing to start testing with the community, intending to give priority to holders of Lands, Leash, and Shiboshis. Another current focus is the development and implementation of stories and quests to regularly enrich the MV experience. This is to ensure that users are not only motivated by the intrinsic incentives of a project like this but also have the opportunity to explore collective missions. These will be implemented in the Alpha versions and will continuously expand to create campaigns and collective missions tied to the Shib universe.
Shib Burns
Shib recently made headlines with back-to-back mega $SHIB burns following the monumental spike of Shibarium transactions early last month, resulting in over 200 million total transactions as of this writing.
On December 4th, the Shiba Inu team sent a total of 8.24 billion SHIB tokens to a dead wallet in a single transaction. Two weeks later, a second burn of 8.61 billion tokens occurred, followed by a third one clocking in at 8.53 billion. On December 23rd, the team continued its aggressive token burn strategy, burning a further 8.47 billion SHIB tokens worth $90,307. This marks the fourth major burn, bringing the total to over 33.8 billion SHIB.
In an X thread, Shytoshi explained the role of global adoption in having impactful burns, paving the way for a paradigm shift to elevate crypto, blockchain, and Web3 to a global standard. He added that with the help of the community, this shift will support the technology that is being built and will ultimately lead to the expansion of the Shiba State and reinforce the Shib Army’s identity as the greatest community in the world.
ShibaSwap
A lot of work has been happening in the background with ShibaSwap. The team is in the process of updating ShibaSwap.com to have hosting capabilities for LP and transactions on Shibarium. There are also other minor DEX updates being done.
But the biggest update to look forward to is its integration into the Hub. A total remodel of the design and user experience will be combined with the latest upgrades for decentralized exchanges (concentrated liquidity, claimable rewards at anytime without having to remove your current liquidity, and a whole new social aspect). So, stay tuned on The Shib in 2024 to learn more about these developments.
As we say goodbye to an eventful year, Shib remains steadfast in its vision and purpose from the humble origins of Ryoshi’s era to its evolution into a torchbearer of decentralization. Moving from a community born of a meme coin to a committed army of Shiba Inu holders and supporters, we have grown in strength and numbers in 2023. So, as we welcome the New Year, let us remember who we are and what we’re here for: may this coming 2024 solidify our battle cry as #SHIBARMYSTRONG.
The post Shib: Recap of the Year first appeared on The Shib Magazine.
]]>The post The Tales of Crypto Titans’ Rise & Fall first appeared on The Shib Magazine.
]]>In the cryptocurrency world, the past two years have seen some of its most powerful figures hit the headlines for all the wrong reasons. From Binance’s high-flying CEO Changpeng “CZ” Zhao facing money laundеring charges to thе fall from grace of FTX founder Sam Bankman-Fried, and the dramatic unraveling of Terraform Labs co-founder Do Kwon’s empire, cryptocurrency’s elites are in the midst of a chaotic storm.
Let’s take a look at thе ups and downs of these crypto tycoons, exploring the glamor, controversy, and legal troubles that have reshaped the narrative of this notoriously volatile industry.
1. Changpeng “CZ” Zhao: The Meteoric Rise and Sudden Fall
Changpeng “CZ” Zhao, once the undisputed king of thе crypto world, catapulted Binance to unprecedented heights. With a net worth peaking at $65 billion, he was the face of crypto prospеrity. However, with great power came greatеr scrutiny.
Accused by the U.S. of allowing transactions to militant groups and violating multiple regulations, Zhao pleadеd guilty, stepping down from Binance amidst fines totaling $4.4 billion. His empire now stands on shaky ground, leaving us to wonder about the fate of thе man who once ruled the crypto universe.
2. Sam Bankman-Fried: From the Face of Fame to a Notorious Collapse
Sam Bankman-Fried, the charismatic founder of FTX, was not just thе richest but also the most famous figure in crypto. With a net worth of $24 billion, he was the unofficial ambassador for the industry. However, revelations of financial misuse – from real estate splurges to risky moves – brought his empire crashing down in November 2022.
Rival CZ Zhao’s decision to sell FTX tokens held by Binance sparked a stunning collapse. Arrested in the Bahamas and found guilty of major financial fraud, Bankman-Fried now faces the prospect of up to 110 years in prison. From fame to infamy, his story is a cautionary tale of the perils of crypto stardom.
3. Do Kwon: Marketing Genius Turned Fugitive
Do Kwon, the South Korean entrepreneur bеhind Terraform Labs, marketed TerraUSD and Luna as the next big thing in crypto. Described as a “genius,” he attracted billions in investments. However, the collapse of these stablеeoins in May last year, deemed by some as a glorified Ponzi scheme, triggered a chain reaction of losses totaling over $500 billion.
Brash and outspoken, Kwon went on the run after leaving South Korea, eventually getting arrested in Montenegro with fake travel documents. Now facing criminal charges in the U.S. and South Korea, Kwon’s story is a gripping tale of a marketing whiz turned fugitive, leaving a trail of financial destruction in its wake.
4. Bitboy: The Dramatic Downfall of a Prominent Crypto Youtuber
Ben Armstrong, the popular crypto influencer known as Bitboy Crypto and founder of the Bitboy Crypto YouTube channel, witnessed a climactic rise in the cryptocurrency community, leveraging his engaging content to amass a substantial following. However, his ascent was accompanied by controversies, as he faced accusations of promoting tokens for personal gain.
The tide turned against him amid regulatory scrutiny, market downturns, and shifting sentiments, leading to a decline in both influence and viewership. Bitboy Crypto’s journey serves as a cautionary tale, emphasizing the challenges and risks associated with navigating the volatile crypto landscape and the importance of ethical conduct in the face of evolving industry dynamics.
5. Winklevoss Twins: A Series of Lawsuits and Losses
The Winklevoss Twins, Cameron and Tyler, are known for their work on Gemini, the cryptocurrency exchange they founded. But they are probably more popular for suing Mark Zuckerberg in 2004 after claiming he stole their social network idea to create Facebook, now known as Meta. This led to a $65 million settlement, after which the twins became billionaires due to their crypto investments. But that didn’t come without challenges. In 2023, Gemini faced a loss of $900 million, and the twins had to pivot their strategies.
Crypto lender Genesis Global initiated legal action against Gemini Trust, aiming to reclaim over $689 million. This substantial sum represents funds withdrawn by customers during a tumultuous “run on the bank,” ultimately leading to Genesis’ bankruptcy.
The twins were also recently under fire after it was revealed that they allegedly withdrew $282 million secretly in 2022 from the customer funds of the exchange’s Earn program “to create a liquidity reserve,” leading to backlash from customers.
What can we say? These narratives serve as cautionary tales, reminding us that even the most powerful figures are not immune to the chaotic forces that govern this ever-evolving industry. So, always take people’s words with a grain of salt. Stay vigilant at all times, Shib Army!
The post The Tales of Crypto Titans’ Rise & Fall first appeared on The Shib Magazine.
]]>The post The State of Crypto 2K23 (Pt.1) first appeared on The Shib Magazine.
]]>It’s the end of time (hmm, end of the year, sorry).
A lot has happened in the crypto industry, so today we’re going to do an insightful TLDR of the state of crypto in 2023.
This article will be composed of three parts, released separately, and will aim to sum up the different evolutions that involved the crypto industry this year. We will explore blockchain activity and dive deep onto some on-chain data. And we will end by picturing the differents factors that will impact the market next year and which narratives to look for in crypto in 2024.
For part 1, we are going to review DeFi and the evolution of developers, as well as do an on-chain market volume recap. We will see how creators and users have never been so close, thanks to Web3, and how that benefits them.
Blockchains Have Never Been More Popular
From high prices in 2021 to the steepest fall of 2022, crypto prices have stabilized in 2023. The industry appears to be finding its balance, with reduced speculation and better engagements from users in Web3 dApps. There is a noticeable increase in monthly active addresses (unique addresses performing on-chain transactions monthly), surpassing previous records.
In the last month alone, 15 million sending addresses were observed, more than double the number from two years ago when prices were still at elevated levels. One potential explanation for this surge is the growing array of opportunities to interact with blockchains and Web3 dApps. From decentralized finance (DeFi) to Web3 games (700 were introduced last year), a wide range of applications that generate addresses for users to interact with has emerged.
Through the rise of Layer 2 solutions, such as Optimism, Arbitrum and Shibarium, fees have never been lower with that much activity on chain. Notably, the total number of blockchain transactions has grown by over 50% in the past two years.
Activity across the whole crypto ecosystem seems to be on the rise again after falling from the highs of 2021. As speculation cooled, it seems more organic uses have emerged across various sectors, including lending, remittances, art, collectibles, and on-chain gaming.
Still, the promise of crypto to transform the economics of the internet remains. In recent months, we’ve seen an uptick in both NFT buyers and DEX volume. In fact, Uniswap, a decentralized exchange, has seen a higher trading volume than Coinbase, the largest centralized exchange in the U.S., for two consecutive months.
The Total Value Locked (TVL) Across DeFi Protocols Crossed $50B
The total value locked (TVL) across all decentralized finance (DeFi) protocols has increased from $35 billion in mid-October to $50 billion today.
A 43% increase in 10 weeks!
Why This Matters
- DeFi token prices are simultaneously rising. Eat that U.S. treasury bond.
- DeFi is seeing fresh inflows of money. Yummy stablecoin!
- Volume and transaction fees are up again. The Cherry on the cake for validators!
Rising asset prices + more money being invested into DeFi protocols = higher TVL. That’s Crypto Math 101.
How Users and Creators Benefit from Web3
The answer is through lower “take rates” (the share of revenue that platform owners take from users). In crypto, users genuinely own their digital assets and can, more importantly, bring these assets to any platform they want.
The easier it is for people to switch platforms, the more competition can heat up, and the fewer chances platforms have to extract from users (or suddenly change the rules on them). Low platform pricing power often leads to lower take rates.
In the last two years, NFT marketplaces have paid out nearly $2 billion worth of royalties in secondary sales to creators. Compare that to Web2, where Meta, for instance, marked $1 billion for creators throughout 2022. This comparison is even more surprising when you consider that Meta’s platforms (Facebook, Instagram, WhatsApp, and others) have around 3.74 billion monthly users compared to the estimated tens of millions of Web3 users today.
It’s worth noting that Web3 take rates are, if anything, trending downward over time. While Web3 creator royalties are in a state of flux as best practices and technologies evolve in the space, we expect even more innovation and experimentation here.
The Number of Active Developers in the Crypto Industry Has Held Steady
Prices can be misleading, particularly without looking under the hood of the tech and its growing ecosystem of builders. So let’s take a look at what devs were up to this year while building their blockchain stuff.
Notably, there was sustained development across crypto. There are nearly 30K monthly active developers in the crypto industry today. A steady increase of 60% since the start of the bull run in 2020 indicates that developers who may have been attracted to rising prices are sticking around.
Nearly 50K unique addresses deployed smart contracts last month – a 40% rise just this year. More of these contracts were verified, and more core developer libraries were used to interact with them than were ever tracked.
The Market Cap for Altcoins Hit $700B
What happened? The market cap for all altcoins (aka crypto tokens NOT named Bitcoin) just hit $700B, according to data from TradingView.
For about 2 years, the altcoin market was stuck between $430B and $650B. It’s been one long yoyo session.
But for the first time in 18 months, it’s out of that range.
Why this matters: It could be an early sign of Altcoin Season. Crypto investors love the altcoin season more than Mariah Carey loves Christmas.
We’ve already had a small taste of it too.
A handful of memecoins and BRC-20 tokens have seen big gains recently:
- BONK: It just became the third-largest dog-themed coin (behind Dogecoin and Shiba Inu).
- ORDI: It’s the first BRC-20 token to hit a $1B+ market cap.
So we can say that a LOT happened this year on chain. Next time, we will dig into the nitty-gritty and sum up the technical evolutions that blockchain devs are working on, including POS vs. POW, zero-knowledge tech stack, and more exciting digital nice-sounding words.
Contributor: @risjo_xyz
Source: State of Crypto Index
The post The State of Crypto 2K23 (Pt.1) first appeared on The Shib Magazine.
]]>The post The state of $Shib tokens first appeared on The Shib Magazine.
]]>Dear Shibizens and Shibarians,
Let’s talk about $SHIB, $BONE and $LEASH today, in particular what makes them tick. 
It will be a bit lengthy (ok – very lengthy 
but also informative and hopefully worth your time – and if you make it to the end there is a cute Shiba Inu Ice Age squirrel waiting for you
) so brace for impact. 
(If you don’t have 20 minutes in peace and quiet to spare now – better bookmark this post and read before bed time – and if I save you a sleeping pill – thank No One in the morning) 
A lot of us are feeling the pain with the rest of crypto market seemingly thawing from a long winter 
while we are still in the “ice age”. 
In times like this the wisdom of Ryoshi always helps me.
“So this is where we are, price goes up people HAIL THE SHIBA, price goes down people cry ‘ADMIN WHY DUMP’.”
As with any good or service – the price of a token is determined by supply and demand (not by the invisible Dev hand as some may think). 
The supply of Bone and Leash are fixed with keys thrown out of the window. 
So, there is nothing we can or should do here. I have already discussed in great detail the issue of supply of Shib and the Shib burns. 
Do take your time to read it to get the complete picture (if you haven’t done so already) here:
Now let us focus on the second part of the price equation 
- what influences the demand of a token (I thank ChatGPT for the general outline of the principles while the application of them to Shib ecosystem was No One’s fault).
1. Market Perception and Sentiment 
Public perception and sentiment can significantly impact demand. Positive news, endorsements from influential figures, and favorable regulatory developments can boost confidence and attract more investors.
What Devs did: Manny Pacquiao Foundation (@mpac_foundation ) utilizing #Shibarium. Influential enough? 
As crypto knows no borders – by providing support to amazing causes – Shib not only generates transactions on Shibarium – but more importantly – it creates a tangible positive impact on the world, reaching people who need it the most. Such causes benefit from @Shibtoken’s name and reputation as a force for good and #SHIBARMY power as much as Shib benefits from them. India Covid Relief Fund is another example of how $Shib made an amazing impact on the world (thank you @VitalikButerin for your big heart 
).
2. Utility and Use Cases 
The utility and practical applications of a cryptocurrency play a crucial role. Cryptocurrencies that serve a specific purpose or offer unique features may have higher demand. For example, if a cryptocurrency facilitates faster and cheaper cross-border transactions, it may attract users seeking that functionality.
What Devs did: Built Shibarium with ±0.0002 $BONE transaction fees (at the time of writing) and the possibility for developers to subsidize gas fees for users of their dApps. Developing ShibaSwap 2.0, Shib the Metaverse (@mvshib ), Shiba Hub, Shiba Eternity 2.0 (@shibaeternity ) to name a few – with various uses of all ecosystem tokens to come.
3. Scarcity and Supply Limitations 
Many cryptocurrencies, such as Bitcoin, are designed with a capped supply. The perception of scarcity can drive demand, assuming that as demand increases and the supply remains limited, the value of the cryptocurrency may rise.
What Devs did: Shib, Bone and Leash supplies are capped by design at specific levels. Shibarium was built to convert part of Bone gas fees into Shib and burn it when the amount reaches $25k, making $SHIB a deflationary token.
4. Technological Development 
Advancements in the underlying blockchain technology or improvements in the cryptocurrency’s protocol can enhance its features, security, and scalability. Positive technological developments can attract more users and investors.
What Devs did: Developed Shibarium L2 blockchain on top of Ethereum (in collaboration with experts from Unification @UnificationUND) using advanced features of Polygon network (@0xpolygon ) as the foundation and molding it into a network purposed for Shiba Inu ecosystem needs on which our future Shiba State will be built.
Future-oriented features like Shib Name Service and Shibdentity are ingrained into the fabric of the ecosystem, ensuring unparalleled privacy, data protection, and control in the hands of Shibizens and Shibarians while advanced DAOs, Councils and Institutions will form integral parts of the Shiba State governance and operations.
Shib the Metaverse being built on the latest Unreal 5.1 engine, encompassing the latest developments in graphics and VR technologies, will become the virtual homeland of our Shiba State, housing a myriad of businesses, entertainment and gaming activities as well as locales to socialize and ShibYards to truly call your second home. 
Partnering with leaders in fields of blockchain, AI, finance, gourmet products – utilising pioneering innovations to guarantee Shib ecosystem always stays at the forefront of technological revolution. 
5. Regulatory Environment 
Regulatory developments and government policies can significantly impact demand. Clear and favourable regulations can provide a sense of security to investors, while uncertainty or negative regulatory actions may lead to a decrease in demand.
What Devs did: While Devs have no control over the regulatory developments – having amazing foresight – Ryoshi ensured that the Shib token was created in a way that until now allowed us to avoid being classified as security by the SEC and other authorities. Devs and their legal team are following latest developments to steer us through the legal minefield while developing all things Shib.
To learn more about SEC and securities, read this post:
6. Adoption and Integration 
The level of adoption and integration of a cryptocurrency into real-world applications and businesses can affect demand. Partnerships with established companies, acceptance by merchants, and increased use in various industries can drive demand.
What Devs did: Showcasing the Shib ecosystem and its benefits on the global stage (like Eth Toronto). Engaging developer community by running Shib hackathons with sizeable prizes.
Onboarding thousands of people on Shibarium seamlessly and effortlessly by using “The Shib” Magazine 
and the power of Shibarium to create Shibwallets 
for them with a sign-up process simpler than Facebook or LinkedIn and allowing them to mint their very first NFTs on Shibarium (even sponsoring the gas fees for doing so) while spreading the Shib word to masses and shining the light on various Shib community projects and personalities which are doing their bit to advance Shib development, adoption and education.
7. Market Liquidity 
Liquidity in the cryptocurrency market, which refers to the ease of buying or selling without causing significant price fluctuations, can impact demand. Higher liquidity often attracts more traders and investors.
What Devs did: By creating Shib token with high supply, low price point and a cute image, Shib founders ensured that the token has great affordability and appeal to millions of people owning the token on exchanges and in self-custody wallets. Shib is regularly among the most traded assets on CEXs and DEXs – ensuring a willing seller is always matched with an eager buyer. 
8. Macro-Economic Factors 
Economic conditions and macroeconomic factors, such as inflation rates, interest rates, and overall economic stability, can influence cryptocurrency demand. Some individuals may turn to cryptocurrencies as an alternative investment during times of economic uncertainty.
What Devs did: While Devs have no control over global economy (Yet… One day, Shiba State GDP will surpass many real-world countries… When G20? 
), they are taking great care to follow all developments in this area and time the releases of the Shib ecosystem products to maximize the impact of such releases on Shib asset prices and demand.
9. Media Coverage and Hype 
Media coverage, both positive and negative, can significantly influence public perception and, consequently, demand. Hype and speculation can drive short-term demand but may not be sustainable in the long run.
What Devs did: Being the lead sponsor and hosting the closing party of Eth Toronto (or should I say Shib Toronto? ), showcasing all areas of Shib ecosystem and its partners to crypto community and the world. Shiboshis on Times Square ad. Engaging with social media influencers, news outlets and the community. Launching “The Shib” Magazine which covers all ecosystem news, projects and initiatives.
Now I want to remind us that Shib has been created with no external funding (apart from 10 Eth donated to Ryoshi by a wealthy friend), no hundreds or thousands of devs and supporting staff like in other corporate projects funded by venture capitalists – only a small team of volunteers who spend an incredible amount of their time and efforts to bring all that I just described above to life.
Then, suddenly, a deep appreciation for everything that they do appears and the “wen’s” and the “why’s” start to seem inconsequential, inappropriate, or even rude.
We are playing the long game here and daily price fluctuations will be a mere blip in the grand scheme of Shiba State.
Because Shib is by the people, for the people, and of the people.
No one has the keys to Shib, Bone or Leash.
They belong to all of us.
And they are our responsibility to protect, cherish and develop.
The Shib Devs are building the infrastructure of the future Shiba State. It is up to every single one of us to breathe life into it by building, utilizing and promoting it.
And Ryoshi said:
“The result of this is that you are responsible. When people ask me questions with expectations, I always send the question back to them. Ok when are you going to do this thing that you just asked me? This method makes some uncomfortable, because of inherent pre-womb entitlement issues in which man does not take responsibility for themselves, rather they look to an outside source to give them boom and if no boom, then to cast blame.
Also the greatest lover is later the greatest hater. Try not to love nor hate, just experience and do.
Thankfully, there are some that had the ears to listen and heard the call and effect became Shiba with us. Some are named and you know some are unnamed and equally important. What matters is that we are united in the core of the vision, being Shiba as the pure actualization of a decentralized and perpetual community.”
We are no longer just #SHIBARMY – we are Shibizens of the great Shiba State! 
So, let us come together and build up our nation, passing the helping paw to those that are in need and spreading the kind Shib word to the world. 
Be Shiba! 
Ice age will end and all the seeds that we are planting now will sprout like Jack’s magic beans taking us to the sky.
The post The state of $Shib tokens first appeared on The Shib Magazine.
]]>The post 10 Crazy crypto stories first appeared on The Shib Magazine.
]]>In a world with more than 10,000+ cryptocurrencies, the amount of insane stories is staggering. Today, we’re gathered around this virtual campfirе to be rеgalеd with talеs that’ll makе you laugh, cringе, and quеstion thе vеry fabric of rеality whеrе thе only certainty sееms to bе… uncertainty!
Join us on this roller-coaster ridе of thе top 10 craziеst crypto stories.
Let’s kick things off with those who made it big, shall we?
The Crypto Millionaires & Billionaires
1. Erik Finman, the teenage Bitcoin whiz
Meet Erik Finman, the youngest cryptocurrency millionaire in the world. At the tender age of 12, he chose to invest his $1,000 from his grandma in Bitcoin instead of saving it for college. Today, at 19, he’s sitting on 403 BTC, worth a cool $2.8 million. So much for traditional education if you ask us!
2. Winklevoss brothers – from Facebook lawsuits to Bitcoin billions… and another lawsuit?
You’ve probably heard of the Winklevoss twins, famous for their legal battle with Mark Zuckerberg over Facebook. What you might not know is that they invested $11 million of their settlement into Bitcoin when it was trading at just $120 per coin. Their 91,666 BTC holdings were valued at a staggering $641 million.
In an insane turn of events, their crypto exchange, Gemini, is among those that are currently being sued by New York’s attorney general for defrauding investors.
This hasn’t been the best decade for some crypto exchanges, has it?
Crypto Moments to Remember
3. El Salvador, the first country to make Bitcoin legal tender
Nayib Bukele, the president of El Salvador, initially proposed the notion of adopting Bitcoin as legal tender in June 2021 during the Bitcoin 2021 Conference in Miami. He expressed his desire for this move to serve as a catalyst for the country’s economic development.
A few days later, a resolution called the Bitcoin Law was approved by a majority of lawmakers. In September 2021, El Salvador made history by becoming the first country in the world to adopt Bitcoin as legal tender. This elevated Bitcoin to the same level as the US dollar, which replaced the El Salvador Colon (SVC) in 2001.
4. Most successful crypto trade EVER!!!
One of the best recorded trades on the good ol’ blockchain is from a trader who bought $8,000 worth of $SHIB back in 2020, which was valued at an astronomical $5.7 billion by October 2021.
This 85-million-percent leap, with SHIB erasing six zeros from its valuation, was later celebrated as the “greatest trade of all time.”
5. CryptoKitties, the Pokémons of digital cat artworks
If you thought virtual cats couldn’t be valuable, think again. CryptoKitties, collectible digital cat artworks (and one of the first NFTs), have users spending Ethereum to breed and collect unique kitties. Did you know the highest price paid for one of these virtual felines? A whopping $117,700. Gotta catch ‘em all, amirite?
Living the Crypto Dream
6. The Craig couple’s “Life on Bitcoin”
In 2013, a newlywed couple, Beccy and Austin Craig, embarked on an ambitious experiment called “Life on Bitcoin.” They lived and traveled solely using Bitcoin as their payment method for 90 days, even crossing international borders. Their documentary was released in 2014.
7. The crypto cop (his buck had the right to remain digital!)
Imagine a police officer in a small Kentucky town named Tony Vaughn, who decided to have his salary paid in Bitcoin back in 2013 when few even knew what Bitcoin was. His $54,000 annual salary converted into Bitcoin has appreciated by a staggering 5,300%.
Not your typical cop story!
WTF Moments
8. Thе mystеrious casе of thе missing kеys
Evеr hеard of that pеrson who thrеw away a hard drivе containing approximately 150m Euros worth of Bitcoins? Oops! It’s like misplacing your wallеt, еxcеpt your wallеt is worth a small country’s GDP. It is estimated that around 20% of Bitcoins are lost forever like this!
The moral of thе story: always double-check bеforе clеaning out your storagе room.
9. The ICO that turned into a PIZZA
This is probably one of the most famous stories in crypto. On May 22, 2010, Laszlo Hanyecz paid 10,000 Bitcoins (BTC) for two Papa John’s pizzas. This exchange is widely celebrated because it is viewed as the first use of Bitcoin in a commercial transaction with Bitcoin as the medium of exchange.
It’s thе crypto еquivalеnt of thе guy who sold his Applе stock bеforе it boomеd. Rеgrеts, rеgrеts, rеgrеts!
10. Thе NFT that was just… a picturе of a potato
In thе world of Non-Fungiblе Tokеns (NFTs), anything can bеcomе art. But a picturе of a potato? Yup, that’s right! Somеonе paid $1 million for a digital image of a potato. Maybе it was a spud-tacular invеstmеnt?
Thе wild, wacky, and absolutely unpredictable world of cryptocurrencies nеvеr fails to amazе. Rеmеmbеr, whеthеr you’rе a seasoned trader or a bewildered onlookеr, thе only rulе in crypto is this:
THERE ARE NO RULES.
The post 10 Crazy crypto stories first appeared on The Shib Magazine.
]]>The post CBDC : A new Era first appeared on The Shib Magazine.
]]>Welcome to the future of finance, where digital currencies are coming a reality! Central Bank Digital Currency (CBDC) is the new kid on the block(chain), and it is set to revolutionize the way we think about money.
But what can we expect from central banks worldwide as they navigate this brave new world? Let’s dive in!
The Rise of CBDCs
CBDCs are a new form of digital money issued by central banks for use by households and businesses. They’re not cryptocurrencies or digital assets but a digital version of a country’s national currency. This means CBDCs are regulated and backed by a central authority.
What Is the Role of CBDCs in the Global Landscape?
CBDCs are being explored by over 130 countries, representing 98% of the global economy. From the United States to Georgia, from Singapore to Switzerland, central banks are piloting or considering the launch of their own digital currencies.
We have to split CBDC into two categories:
· Wholesale CBDC that is aimed to be used by central and commercial banks for settlement payment
· Retail CBDC that caters for a retail audience (aka the regular folks) for daily use
In Singapore, the Monetary Authority is planning to conduct live trials for issuing wholesale CBDCs. Meanwhile, Georgia is collaborating with Ripple for their CBDC pilot. Even the Swiss National Bank is piloting a real Swiss franc wholesale CBDC with commercial banks.
It is interesting to note that most of the CBDC projects are related to wholesale and not retail (for now).
Pretty soon, we’ll be telling our grandkids, “Back in my day, we used to have something called ‘cash,’ and you could fold it into little origami animals. Kids these days just tap their digital wallets and call it a day.”
What Should We Expect from CBDCs?
CBDCs hold the promise of advancing global financial inclusion. Ripple’s Vice President for CBDC Engagements, James Wallis, underscores this transformative potential, highlighting how CBDCs can extend financial services to individuals worldwide, especially those with low income and no ties to financial institutions.
The managing director of the International Monetary Fund, Kristalina Georgieva, also urged the public sector to prepare to deploy CBDCs, stating that can replace cash and help financial inclusion.
Is It Too Soon or Can We Manage?
After blaming cryptocurrencies for everything, looks like the central banks now understand the potential of blockchain technology but want to keep the power of money for them by introducing CBDCs that will still be controlled by the same institutions that are managing fiat currencies today.
While the potential benefits are significant, there are also challenges to consider. For instance, a macroeconomics expert predicts a banking sector collapse in March 2024, linked to CBDCs. There could also be a significant pushback from people all over the world if cash will disappear. Most developing countries are still mostly running on cash, and privacy advocates have identified CBDCs as a global risk for freedom in the world.
The Future of CBDCs
As we look to the future, it’s clear that CBDC will play a crucial role in the evolution of the global financial system. So, as we stand on the brink of a new еra, one thing is certain: the world of finance as we know it is about to change.
All we can say is, with central banks worldwide gearing up to embrace such an enormous change, will privacy prevail or will it fall due to the rise of government control over everything?
The post CBDC : A new Era first appeared on The Shib Magazine.
]]>The post Top 10 Scary Tech first appeared on The Shib Magazine.
]]>The future is an enigma, and as we hurtle toward the next era of technological advancement, the fear of what it might bring grips us in its icy grasp. The future, as we envision it, is full of cool stuff, but some new tech trends are pretty scary.
It’s a little late for Halloween, but we enjoy exploring our version of “horrors” from time to time…
So let’s take a look at why these are the scariest future tech trends, shall we?
1. Artificial General Intelligence (AGI)
The idea of creating machines with intellectual capabilities rivaling or surpassing human intelligence is both mesmerizing and daunting. Experts warn that uncontrolled AGI could go out of human control, leading to unintended consequences. Prominent figures such as Elon Musk have highlighted the need for careful regulation and monitoring of AGI to prevent its misuse.
2. Autonomous Weapons
Also known as killer robots, these can function without human intervention. The Campaign to Stop Killer Robots has garnered substantial support in urging nations to establish a ban on these lethal weapons.
3. Deepfakes and Misinformation
Rapid advancements in deep learning algorithms have facilitated the creation of convincing deepfake content, blurring the lines between reality and fabrication. The manipulated media threatens to disrupt public trust and fuel misinformation campaigns.
4. Biometric Surveillance and Privacy Concerns
The widespread adoption of biometric surveillance technologies raises apprehensions about personal privacy and autonomy. The collection and analysis of biometric data could lead to unwarranted surveillance, challenging the fundamental right to privacy. The American Civil Liberties Union (ACLU) emphasizes the need for robust legislation to safeguard individuals from the perils of intrusive surveillance practices.
5. Gene Editing and Designer Babies
The breakthroughs in gene-editing technologies like CRISPR-Cas9 have paved the way for altering the genetic makeup of organisms, including humans. The concept of creating “designer babies” has sparked ethical debates surrounding eugenics and the commodification of human life. Renowned bioethicists advocate for comprehensive ethical guidelines to regulate the application of gene-editing technologies.
6. Climate Engineering
With the looming threat of climate change, some scientists propose using geoengineering techniques to mitigate its effects. However, the unintended consequences and potential risks associated with large-scale interventions in Earth’s climate system warrant cautious consideration. The Union of Concerned Scientists emphasizes the need for extensive research and global governance to ensure the responsible implementation of climate engineering solutions.
7. Quantum Computing Security Risks
While quantum computing holds the promise of revolutionizing various fields, its potential to break current cryptographic systems poses a significant cybersecurity threat. Experts stress the urgency of developing quantum-resistant encryption standards to safeguard sensitive information from potential security breaches.
8. Brain-Computer Interfaces (BCI) Ethical Concerns
Sophisticated brain-computer interfaces raise ethical questions regarding cognitive privacy and data security. The potential misuse of BCI technology for unauthorized access to individuals’ neural data demands the implementation of stringent ethical guidelines and robust data protection mechanisms.
9. Virtual Reality Addiction and Psychological Implications
The immersive nature of virtual reality experiences may lead to addiction and psychological dependencies, resulting in adverse effects on mental health and social well-being. Mental health professionals stress the importance of fostering digital wellness and promoting responsible usage of virtual reality technologies.
10. Microchip Implants
Microchip implants in humans could lead to a lack of privacy as individuals could potentially be tracked or have their data accessed without their consent.
As we draw the curtains on this list, it’s clear that the future can be both adventure-filled and a little bit too edgy. But which is it for you?
What do you think of these tech trends? Did they freak you out or do you think they’re the first step toward a brighter future?
What other technological evolutions send shivers down your spine? We’d like to know so we can join the spooky watch party in our pajamas. We’ll bring the popcorn, you bring the drinks! 
The post Top 10 Scary Tech first appeared on The Shib Magazine.
]]>The post 5 Explosive Crypto Trends first appeared on The Shib Magazine.
]]>Grееtings, fеllow crypto еnthusiasts!
As we keep our eyes peeled for thе much-anticipatеd nеxt bull run (whenever that may be), some of you may be looking for things to do while preparing for it. On the other hand, some are either buying the dip or HODLing. Whatever you’re doing during this wait, we can give you a list to go over and take notes from.
Here are fivе staggering crypto trеnds that will likely dominatе thе nеxt bull market:
1. Rеal-World Assеts (RWA) Tokеnization
Thе convеrgеncе of traditional finance and the blockchain world is imminеnt, with rеal-world assеt tokеnization taking cеntеr stage. Imaginе fractional ownеrship of rеal еstatе, art, and othеr tangiblе assеts bеcoming a rеality through blockchain technology. This trend has thе potential to democratize invеsting and unlock a plеthora of untappеd opportunities for rеtail invеstors globally.
For example, RealT is a platform that tokenizes real estate assets, allowing investors to buy and sell fractions of properties. The platform utilizes ERC-20 tokens to represent fractional ownership of real estate assets.
A very interesting one is the Ubuntu Tribe’s GIFT (Gold International Fungible Token), which, put simply, is tokenized gold. It is a digital certificate entirely backed by physical gold that people can use as a reliable digital asset with increasing value over time.
2. Gaming on thе Blockchain
The gaming industry’s synеrgy with blockchain technology is a match madе in hеavеn. Thе intеgration of NFTs and play-to-еarn mechanisms has rеvolutionizеd thе gaming sеctor, fostеring a morе inclusivе and rewarding gaming еxpеriеncе for playеrs.
As an example, Axie Infinity (AXS) is a play-to-earn game that revolves around collecting, breeding, and battling Axies, which are digital pets represented by NFTs. Players can earn in-game tokens by participating in various activities, such as battling other players and completing quests.
An other one is Shiba Eternity, a collectible card game. The mobile game is available on Android and iOS devices. Two players play against each other as in a classic one vs. one game.
The Shiboshi heroes are the ones who call the shots. Players can use spells, cards, and more to fight against their opponent and win the battle.
The Shiba Eternity game features a large collection of 10,000 Shiboshis heroes and 500 collectible cards. There are also 11 passive powers, 21 special powers, and 6 core traits that allow the game to be played across the entire ecosystem.
3. SocialFi – Social Mеdia x DеFi
Prеparе to witnеss thе еmеrgеncе of SocialFi, whеrе dеcеntralizеd financе intеrsеcts with social mеdia platforms. From dеcеntralizеd contеnt monеtization to community-drivеn govеrnancе, SocialFi will transform how we interact and transact within social еcosystеms.
For example, Lens Protocol is a decentralized social media protocol that enables users to own their data and earn rewards for creating and curating content. The protocol utilizes NFTs to represent social content, allowing users to monetize their creations and participate in community governance.
Friend.tech and Post.tech have also made strides into the Twitter-like game with a gamification of the user experience through owning influencers shares and redistribution of the marketing revenue.
4. Layеr 2 Solutions for Enhancing Scalability and Efficiеncy
Amid thе growing concerns about blockchain scalability, Layеr 2 solutions arе еxpеctеd to takе thе spotlight. Thеsе solutions aim to address thе scalability issues of popular blockchains, facilitating fastеr and morе cost-еffеctivе transactions.
Leading the march is our very own Shibarium which strives to enhance the SHIB ecosystem’s performance, security, and innovation.
5. AI and Crypto Intеgration
The intеgration of AI and crypto is a potential force that promisеs to rеvolutionizе various industries. From еnhancing trading stratеgiеs to еnabling sophisticatеd data analytics, thе fusion of AI and crypto will ushеr in a nеw еra of intеlligеnt invеstmеnt opportunitiеs and data-drivеn dеcision-making procеssеs.
A great example is the BAD IDEA AI project which represents a daring and ambitious venture, fusing the capabilities of Artificial Intelligence (AI), Blockchain, and Decentralized Autonomous Organizations (DAOs) within a thoroughly decentralized ecosystem.
If you took notes, good for you. But if not, it’s just as well. While the nеxt bull run is poisеd to unlеash a wavе of transformativе crypto trеnds that can affect how we pеrcеivе and еngagе with blockchain tеchnology, the best thing to do is still to DYOR.
But definitely brace yourselves for the upcoming bull market! Bulls don’t run forever and there will always be FUD, so err on the side of caution and always, always, always (wait, did we say always yet?) do your research.
Good luck, degens!
The post 5 Explosive Crypto Trends first appeared on The Shib Magazine.
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