Kraken Becomes Atletico Madrd’s Official Sponsor in New Partnership Deal
Cryptocurrency exchange Kraken recently announced a new partnership with Spanish football club Atletico Madrid. Consequently, the exchange will become one of the club’s official sponsors. The latest collaboration announced on Kraken’s official X-page will become effective from the beginning of the 2024 season, making Kraken the club’s official crypto partner. We are excited to announce our partnership with @Atleti! Together, we are advancing crypto adoption both on and off the pitch. Starting from the 2024/25 season, our logo will proudly appear on the sleeves of Atletico Madrid's playing kits. ❤️ 🤍 pic.twitter.com/IJKiLhf5dl — Kraken Exchange (@krakenfx) July 10, 2024 New Partnership Details Per reports, Kraken will serve as the Official sleeve partner for Atlético de Madrid’s men’s and women’s football team kits. Hence, Kraken’s logo will appear on Atletico Madrid’s playing jersey sleeves for both teams. Strategic Partnership Significance Kraken’s partnership with Atletico Madrid is a strategic move that underscores the adoption and incorporation of Web3 in the sporting industry. Notably, the new partnership will likely present more opportunities for both parties and their supporters. For Kraken, it presents a potential platform to boost its user base and engagement by driving non-crypto football fans into the digital assets industry. Therefore, the crypto community should anticipate significant growth for Kraken in the coming months. Meanwhile, while the move is innovative and a big win for both parties, the sought-after collaboration between a cryptocurrency and a sports team is not a novelty in both industries. Exchange Collaborations In Sport Earlier this year, BingX announced becoming the official sleeve partner for Chelsea’s men’s playing kits, marking its first venture into the sports and entertainment sector. Similarly, partnerships exist between Crypto.com and Paris Saint-Germain FC, Etoro and Everton, and OKX and Manchester City. Other Developments The cryptocurrency exchange is considering a final funding round in preparation for a prospective Initial Public Offering (IPO). Sources claim that the exchange hopes to raise $100 million in the new funding round. In the meantime, however, Kraken co-founder and CEO Jesse Powell recently donated $1 million in Ethereum to Donald Trump’s campaign.
Top Blockchain Statistics Every Investor Should Note
Blockchain technology, a groundbreaking innovation, has been around for a while. Ever since its inception by Satoshi Nakamoto, the founder of Bitcoin, it has evolved and expanded. And you know what? The latest blockchain statistics might just amaze you. Did you know that the blockchain technology market is expected to hit a whopping $39 billion by 2025? Yep, you heard that right – billion with a “B.” We’re talking billions of dollars, millions of users, and even central banks getting involved! And it’s not just the big players getting in on the action. Small businesses are jumping on too, with over 50% of them already dabbling into decentralized tech. But wait, there’s more! Blockchain isn’t just about crypto – oh no. You won’t believe what you’re about to learn from Blockchain statistics! Key Blockchain Statistics in 2024 Blockchain technology has emerged as a game-changer, impacting various industries. These are some of the statistics that shed light on its current adoption and growth. Ethereum is the most developed blockchain with over 5,000 projects on it Conceptions about Ethereum often revolve around its complex technology and perceived exclusivity to tech-savvy individuals. However, the statistic that there are over 5,000 DApps and tokens built on the Ethereum network demonstrates its broad adoption and versatility. Bitcoin is the largest market cap with a market cap of over $1 trillion Many people view Bitcoin simply as a speculative asset with no intrinsic value. However, knowing that Bitcoin consistently holds the largest market capitalization in the cryptocurrency space, exceeding $1 trillion, changes this perception. Solana is the Most Active Blockchain (On-Chain Transactions) Solana processes over 1.5 million transactions per day on average highlighting its efficiency and scalability. This showcases Solana’s ability to handle a high volume of transactions at low costs, making it a viable option for applications requiring fast and affordable transactions. World Population Using Blockchain Some people still believe that blockchain technology is merely a niche interest with limited adoption. However, knowing that approximately 3.9% of the global population, over 300 million people, actively use blockchain technology, challenges this view. Number of Bitcoin Wallets Bitcoin and other cryptocurrencies appeal to a broad range of people, not just a small, tech-savvy group. Currently, there are over 82 million Bitcoin wallets worldwide demonstrating widespread adoption and increasing interest in cryptocurrencies. Blockchain Market Size and Growth The blockchain market has since evolved from a small niche with limited economic impact. In 2023, the global blockchain market was around $12.4 billion. Experts have projected it to exceed $94 billion by 2027, revealing its significant growth trajectory. Total Value Locked (TVL) in DeFi Protocols Before understanding this statistic, many might view decentralized finance (DeFi) as an untested and risky segment of the blockchain space. However, knowing that the TVL in DeFi protocols surpassed $100 billion in 2024, from $45 billion recorded across multiple blockchains as of November 2023, highlights the substantial value and trust placed in DeFi systems. Other Blockchain Statistics You Need to Know Country with the Most Blockchain Developers Many people believe that blockchain development concentrates in a few tech hubs. However, the United States leads in the number of blockchain developers with over 6,000 developers, followed by countries like India, UK, and Canada. Number of Countries Exploring or Piloting Central Bank Digital Currencies (CBDCs) Recently, there’s been a significant global interest and development in CBDCs. Over 100 countries are actively researching CBDCs, with 39 countries progressing to pilot projects or proof-of-concept trials. This shows the potential for CBDCs to transform monetary systems and enhance financial inclusion. CBDCs have now become critical areas of exploration for the future of money, encouraging further research and public discourse on their implications and benefits. Final Words Blockchain presents a compelling opportunity for investors. Current statistics show that the technology is rapidly growing across various industries, not just finance. Governments are recognizing its potential and fostering its adoption. By staying informed about the latest trends and developments in blockchain, you can position yourself to make strategic investment decisions and benefit from this. Frequently Asked Questions How does blockchain technology extend beyond cryptocurrencies like Bitcoin and Ethereum? Blockchain technology has applications beyond cryptocurrencies, including use cases in finance, supply chain management, healthcare, gaming, and more. Features like transparency, security, and efficiency make it a valuable tool for various industries seeking to improve their operations. What is the significance of the projected growth in the blockchain market size? The blockchain market is expected to grow from $12.4 billion in 2023 to over $94 billion by 2027, indicating a substantial economic potential. This growth attracts investment and innovation, suggesting that blockchain technology will play a crucial role in future economic development and digital transformation initiatives. Why is Ethereum considered the most developed blockchain platform? Ethereum is considered the most developed blockchain platform due to its extensive ecosystem with over 5,000 decentralized applications (DApps) and tokens built on it.
The Ultimate Guide to Osmosis Cryptocurrency
Are you tired of clumsy cryptocurrency exchanges and little DeFi options? Osmosis is causing a stir. With this cutting-edge platform, you can trade and profit from multiple blockchains in one location. Find out how Osmosis cryptocurrency is transforming DeFi and giving you power over your financial destiny by reading on. Key Takeaways What is Osmosis Cryptocurrency? Sunny Aggarwal and Josh Lee founded Osmosis in January 2021. It redefines Cosmos network crypto trading by offering a secure, transparent, and interoperable marketplace. It allows you to take control of your finances, participate in DeFi activities, and potentially earn rewards through staking. Osmosis’ blockchain was built by forking the Cosmos SDK and is secured by Tendermint, a Byzantine Fault-Tolerant (BFT) and it is operated by 150 active validators, selected from a pool of 395 validator candidates. Key Features of Osmosis Cryptocurrency Osmosis operates as an innovative cryptocurrency marketplace in the Cosmos ecosystem. Here are some of the key features: Decentralized Exchange (DEX) and Automated Market Maker (AMM) Unlike traditional exchanges controlled by a single entity, Osmosis operates in a peer-to-peer fashion. You trade directly with other users, eliminating intermediaries and saving on fees. The AMM aspect ensures smooth trading by automatically setting prices based on the availability of crypto assets in liquidity pools. Imagine a vending machine for crypto: the AMM keeps the machine stocked (with liquidity) and determines the fair price based on supply and demand. Built on Cosmos Blockchain Osmosis uses the power of the Cosmos network, known for its interoperability. This enables seamless trading across various Cosmos-built blockchains, creating a unified crypto marketplace. Think of it as a universal adapter that allows you to trade tokens from different blockchains within the Cosmos network, all under one roof. Layer-1 Advantage Unlike some DEXes, Osmosis functions as its own layer-1 blockchain. This translates to greater flexibility, scalability, and a robust foundation for future DeFi applications to be built upon. Think of it as a purpose-built platform specifically designed to optimize DeFi functionalities. Trading and Staking Osmosis empowers you to not only trade your crypto holdings but also stake them. Staking involves locking up your crypto assets to support network operations and earn rewards. It’s like putting your crypto to work and generating passive income. Cross-chain DeFi Hub Osmosis serves as a central hub for DeFi within the Cosmos ecosystem. DeFi refers to a suite of financial applications built on blockchains, enabling activities like lending, borrowing, and earning interest all without relying on traditional financial institutions. Osmosis serves as the backbone for these DeFi activities by providing the liquidity (readily available crypto assets) necessary for them to function effectively. Liquidity Center and Primary Trading Venue Osmosis has established itself as the go-to platform for trading crypto assets within the Cosmos network. It acts as the central marketplace where users can find the best rates and trade various tokens efficiently. How Osmosis Cryptocurrency Works Osmosis uniquely facilitates crypto trades and rewards user participation. Let’s discuss these functionalities: Automated Market Makers (AMMs) Osmosis ditches the traditional order book system, where buyers and sellers place orders hoping to be matched. Instead, it uses a more automated approach with AMMs. AMMs are digital market makers that constantly adjust prices based on supply and demand within liquidity pools. These pools function as reservoirs filled with crypto assets. You can swap tokens directly from these pools, ensuring smooth and efficient trades even for less common tokens. For instance, imagine you want to swap Bitcoin (BTC) for Cosmos (ATOM), but there aren’t enough sellers on a traditional exchange. With Osmosis, you wouldn’t need to wait for someone to list their ATOM. Instead, you’d interact with a liquidity pool specifically designed for BTC and ATOM. Here’s how it works: Staking Osmosis offers exciting opportunities for users to not just trade but also grow their holdings. Staking allows you to lock up your crypto assets to support the Osmosis network’s security and validation. In return, you earn rewards in the form of newly minted Osmosis tokens (OSMO), the native currency of the Osmosis ecosystem. This process helps secure the network and incentivizes users to contribute to its ongoing health. Here’s an example: Yield Farming Apart from basic staking, Osmosis introduces the concept of yield farming. Here’s where things get even more interesting. Liquidity providers, the heroes who contribute their crypto to liquidity pools, are rewarded not just with trading fees but also with additional incentives through yield farming programs. These programs distribute various tokens on top of standard Osmosis rewards, making liquidity pool contributions more lucrative. For instance, imagine you’re a crypto enthusiast who wants to earn more than just staking rewards. You can become a liquidity provider by contributing your crypto assets (like BTC and ATOM) to a liquidity pool. Utility of OSMO Token Osmosis also has its own native token, OSMO. Owning OSMO grants you more than just bragging rights; it grants you a say in the future of the protocol. For instance, let’s say Osmosis is considering a proposal to change the fees for using the platform. As an OSMO holder, you can vote on this proposal using your OSMO tokens. Your vote helps decide whether the fee change is implemented, giving you a say in how Osmosis operates. Governance Token OSMO drives Osmosis’s decentralized governance. Holding OSMO grants you voting rights on key proposals, including fee structure upgrades, shaping the platform’s development. Active Participation Holding OSMO allows you to actively participate in the Osmosis ecosystem. You can contribute to shaping the future of this innovative DeFi hub and potentially influence decisions that impact its growth and functionality. Market Performance As of today, OSMO is priced at around $0.88 USD, with a total market capitalization of roughly $578 million. While market valuations can fluctuate, this indicates a healthy level of user interest and adoption of the Osmosis protocol. Interoperability of Osmosis Cryptocurrency One of the biggest hurdles in the DeFi space is the fragmentation of different blockchains operating in silos. Osmosis shatters these barriers with its focus on
Top Crypto Mining Statistics Every Investor Should Know
Have you ever wondered how much it takes to mine a Bitcoin? What if I told you that the average yearly estimated energy consumption by Bitcoin mining is 160 TWh of energy? And that crypto mining consumes more electricity yearly than Argentina? Whether you’re a newbie or a seasoned investor, these crypto mining statistics can be eye-opening. This isn’t just dry data, this is intel that could seriously impact your investment decisions! So, stick around if you’re looking to get the lowdown on the top crypto mining stats that can help you make smarter investments. You’re about to get a crash course on the figures that matter most in this thrilling digital gold rush. Let’s go! Key Crypto Mining Statistics As of 2023, 19 million Bitcoins have been mined Bitcoin mining is often perceived as an activity that reached its peak years ago, with many thinking that most Bitcoin has already been mined. Despite perceptions, Bitcoin mining is ongoing, and new Bitcoins are continually being introduced into circulation. This ongoing mining activity indicates sustained interest and participation in Bitcoin despite increasing difficulties and costs. There are approximately 2,000 mineable cryptocurrencies The existence of approximately 2,000 mineable cryptocurrencies showcases the vast diversity within the crypto market and indicates opportunities for miners to diversify their activities. The average yearly estimated energy consumption by Bitcoin mining is 160 TWh of energy Many believe that Bitcoin mining, while energy-intensive, doesn’t significantly impact global energy consumption. However, the estimated 160 TWh yearly energy consumption by Bitcoin mining is substantial, comparable to the energy use of entire countries. This highlights the environmental impact of Bitcoin mining and raises concerns about sustainability. Cryptocurrency mining produced increasing revenue over the years, including 63 million U.S. dollars on a single day in 2021 Some might see cryptocurrency mining as a niche activity with limited profitability. But, generating $63 million in a single day underscores the significant financial rewards associated with cryptocurrency mining. Producing Bitcoin generates around 22-23 million metric tons of carbon dioxide every year The production of 22-23 million metric tons of carbon dioxide annually by Bitcoin mining is a stark reminder of its environmental footprint. This should prompt the industry to prioritize reducing carbon emissions through greener practices and technologies. The Bitcoin mining industry generates approximately $56 million on average every day Cryptocurrency mining is often seen as only marginally profitable, especially with rising costs and difficulties. But, the reverse is the case. Generating an average of $56 million daily indicates substantial profitability in the Bitcoin mining industry, which is a testament to the financial viability and attractiveness of mining as a business venture. The global crypto mining market was valued at $1.6 billion in 2020 and is projected to reach $2.6 billion by the end of 2026 The projected growth of the global crypto mining market to $2.8 billion by the end of 2026 indicates more expansion and increasing investment in the sector. Crypto mining consumes more electricity than the entire country of Argentina, with 160 terawatt-hours of electricity annually The fact that crypto mining consumes more electricity than Argentina is alarming and underscores the massive energy demand of this industry. This comparison highlights the significant environmental and economic impacts of such high energy consumption, raising awareness about the need for sustainable practices in the cryptocurrency sector. Bitcoin mining has the potential to increase the global temperature by more than 2°C The potential for Bitcoin mining to increase global temperatures by more than 2°C is a stark warning about its environmental consequences. This statistic shows the urgent need for sustainable practices in the mining industry. It can take almost ten years to mine one Bitcoin in 2024 There is a belief that Bitcoin mining remains a quick and easy process. That’s not entirely true. In 2009, you could mine one Bitcoin for a few seconds’ worth of household electricity. But in 2024, depending on your mining hardware, it can take you almost 10 years to mine one Bitcoin, and about $13,000 worth of household electricity. However, mining with several ASIC minings under the Bitcoin network, takes 10 minutes to mine one Bitcoin block, which is about 3 bitcoins. General Crypto Mining Statistics Bitcoin mining consumes roughly 0.5% of all energy consumption worldwide Consuming roughly 0.5% of the world’s energy is a substantial figure that highlights the significant environmental impact of Bitcoin mining. One Bitcoin transaction can spend up to 1,200 kWh of energy Studies have revealed that the energy cost of up to 1,200 kWh per Bitcoin transaction is quite startling. This figure highlights the substantial energy demand associated with securing and validating transactions on the network. The cost of electricity to mine Bitcoin every year comes to almost $4.5 billion worldwide The annual $4.5 billion electricity cost for Bitcoin mining underscores the significant operational expenses tied to energy consumption. Bitcoin mining accounts for 65% of all crypto mining activities Cryptocurrencies are not mined equally. Bitcoin’s dominance, accounting for 65% of all crypto mining activities, shows its leading position in the market. ASIC miners are up to 200 times more efficient than GPU miners for Bitcoin, while GPUs are faster at mining Bitcoin than CPUs Notably, not all mining hardware has similar efficiencies and capabilities, as seen in this crypto mining statistics. Conclusion The world of crypto mining is getting bigger as the years roll by. These crypto mining statistics reveal not only the significant financial potential but also the substantial environmental and economic impacts. As the industry grows, staying informed about these key metrics will help investors make smarter, more sustainable decisions. The future of crypto mining will depend on balancing making profits, with environmental responsibility, driving innovation, and adapting to regulatory changes. Frequently Asked Questions How much energy does Bitcoin mining consume annually? Bitcoin mining consumes approximately 185 TWh of energy each year, comparable to the electricity usage of entire countries like Argentina. This highlights the significant environmental impact of the industry. What are the financial returns from Bitcoin mining? The Bitcoin mining
The Chainlink vs API3 Rivalry for Oracle Dominance
The tussle between Chainlink vs API3 is one of technological dominance in offering the most secure and reliable data via the oracle network. For instance, traditional financial systems rely on trusted intermediaries to provide accurate data. However, in DeFi, a new kind of solution called “oracles” has emerged to bridge the gap. This article explains the Chainlink vs API3 rivalry, their unique functionalities and how their competition poses to shape the future of oracles in decentralized finance (DeFi). Key Takeaways Chainlink vs API3: What are Oracles in DeFi? Oracles in decentralized finance (DeFi) act as bridges between blockchains and the external world. They securely fetch data from off-chain sources and deliver it to smart contracts on-chain. In essence, oracles become the trusted intermediaries in the trustless world of DeFi. The reliability of oracles is paramount for DeFi applications. Inaccurate or manipulated data can lead to disastrous consequences, such as malfunctioning smart contracts, unfair liquidations and significant financial losses for users. Therefore, the Chainlink vs API3 rivalry is not just about technological supremacy, but about ensuring the secure and reliable future of DeFi. In traditional finance, data is just as important. Investors like you have to rely on trusted intermediaries, such as banks and financial institutions, to provide accurate information on everything from stock prices and exchange rates to economic indicators. However, this system is not without its flaws. These intermediaries are centralized entities, meaning they have the potential to manipulate data for their own gain. For example, a financial institution might misreport the value of a security to influence investor decisions. This lack of transparency and potential for manipulation creates a significant risk factor in traditional financial systems. The decentralized finance (DeFi) revolution is rapidly transforming finance, but its success hinges on trust. Traditional financial systems rely on trusted intermediaries to provide accurate data on everything from stock prices to exchange rates. However, in DeFi, where transactions happen automatically on blockchains, a new breed of solutions called oracles bridge the gap between on-chain and off-chain data. Decentralized finance (DeFi) flips the script on traditional finance by introducing a peer-to-peer, trustless system. Transactions are executed automatically on blockchains, eliminating the need for centralized intermediaries. Although this very characteristic presents a challenge: how can DeFi applications access the external data they need to function, such as real-time asset prices or weather information, which resides outside the blockchain? The answer is oracles. Chainlink vs API3: Established Oracle Network And Rising Challenger Chainlink is the current leader in the oracle space with an established network while API3 is a worthy challenger which has risen to disrupt the space. Chainlink’s Functionalities Chainlink’s success can be attributed to its robust architecture designed to address the core challenges of oracle networks. Here’s a breakdown of its key functionalities: Decentralized Network of Nodes Unlike centralized oracles, Chainlink relies on a distributed network of independent nodes. These nodes are responsible for fetching data from external sources and delivering it to blockchains. This decentralization helps to mitigate the risk of data manipulation by any single entity. Reputation and Payment Systems Chainlink incentivizes honest and reliable behavior from its node operators through a sophisticated reputation and payment system. Nodes with a good track record earn higher rewards for providing accurate data, while those with a poor reputation face penalties. This system helps to ensure the overall quality and reliability of the network. Aggregating Data Feeds for Reliability Chainlink doesn’t rely on a single data source for any given piece of information. Instead, it aggregates data from multiple independent sources and performs statistical analysis to ensure the accuracy and consistency of the final output. This multi-source approach significantly reduces the risk of errors or manipulation from any one provider. Chainlink’s Market Position Chainlink’s robust functionalities have translated into a dominant market position within the DeFi space. The use of Chainlink oracles to secure smart contracts has grown significantly. Deposits have increased from $7 billion at the end of 2020 to over $60 billion in February 2022. This shows the immense trust that DeFi applications and users have placed in Chainlink’s ability to provide secure and reliable data feeds. Additionally, Chainlink boasts a well-established reputation and extensive integrations with numerous DeFi protocols, further solidifying its position as the leading oracle network. API3: The Rising Challenger While Chainlink reigns supreme for now, API3 is a formidable challenger. This new generation oracle network is rapidly gaining traction and has the potential to disrupt Chainlink’s dominance. Here are some of the elements which make API3 unique. API3’s Value Proposition API3 approaches the oracle challenge with a distinct set of principles: Focus on First-Party Data & User Privacy Unlike Chainlink, which aggregates data from various sources, API3 emphasizes the use of first-party data, meaning data provided directly from the source itself. This approach can potentially improve data accuracy and reduce the risk of manipulation. Additionally, API3 prioritizes user privacy by offering features that allow data providers to control how their data is used. Decentralized Autonomous Service (DAO) Governance API3 leverages a Decentralized Autonomous Service (DAO) for network governance. This means that key decisions regarding the network’s operation are made by a community of token holders. This gives way to a more transparent and democratic approach compared to Chainlink’s current governance structure. API3’s Growth Trajectory Despite being a relative newcomer, API3 is experiencing significant growth and integrations with DeFi protocols have been steadily increasing. On May 22, 2024, API3’s Total Value Secured (TVS) announced that it has achieved a remarkable tenfold growth in just over three months, reaching an impressive milestone of over $1 billion. This rapid adoption suggests that API3’s unique value proposition is resonating with developers and users within the DeFi space. In February 2024, in an effort to bolster decentralized data infrastructure, API3 joined forces with CoinGecko, a leading cryptocurrency market data aggregator. This collaboration has the potential to provide several benefits including enhanced data security, greater tamper-proof capabilities and future-proofing for decentralized applications. Chainlink vs API3: Key Similarities Despite their distinct approaches, Chainlink