DeFi
Elastos Unveils BeL2 SDKs to Enable Partners to Develop Native Bitcoin Applications and StarBTC DeFi Demo App to Extract Value from Idle Bitcoins
SINGAPORE, July 25, 2024 (GLOBE NEWSWIRE) — Elastos, the SmartWeb ecosystem provider, today announced innovations that enable native Bitcoin staking on the Bitcoin network. Partners can use the Elastos BeL2 Software Development Kit (SDK) to build native Bitcoin decentralized applications (dApps) to incentivize staking of the over 1 trillion dormant Bitcoin. The BeL2 SDK will be showcased at Bitcoin Nashville 2024 alongside the StarBTC demo lending app, showcasing BeL2’s native Bitcoin DeFi solutions as a decentralized clearing network service.
Elastos BeL2 – Native Bitcoin Staking Becomes a Reality with New Arbitrager Revenue Model. StarBTC’s First Prototype for Arbitrage Nodes and Smart Contracts Enables Collateralization of Up to 80% of Bitcoin Assets. Elastos BeL2 Offers Significant Bounties to Node Owners Who Stake Bitcoin (BTC) on the Bitcoin Network in Addition to Existing APR Rewards
With BeL2, users can stake Bitcoin directly on the Bitcoin network. This allows for the transmission of proof of transaction, rather than assets, across chains, allowing users to enter Layer 2 environments and use BTC in various DeFi applications. The StarBTC demo application shows how staked BTC can be used as collateral for stablecoin loans, holding Bitcoin on its mainnet and leveraging BeL2’s ZKP technology and decentralized arbitration for secure transactions.
The BeL2 protocol enables direct collateralization of Bitcoin without bridging or wrapping, preserving the security and integrity of Bitcoin while avoiding network congestion and fees. The StarBTC demo application demonstrates how arbitration nodes facilitate communication between Bitcoin and Ethereum Virtual Machine (EVM) chains to verify transaction proofs using BeL2’s Zero-Knowledge-Proof (ZKP) process to ensure that all conditions are met for collateral release.
“The combination of our innovations around arbitrage nodes and the BeL2 SDK will enable developers and node holders to earn significant rewards through Bitcoin staking,” said Jonathan Hargreaves, Global Head of Business Development and ESG at Elastos. “We estimate that the Bitcoin-native DeFi market could grow to over $1 trillion, with potential in sectors ranging from creative arts to retail.”
Elastos’ BeL2 allows users to run zkBTC full nodes on mobile phones, creating a decentralized Bitcoin DeFi network. These nodes ensure security by allowing users to verify transactions themselves. Upgraded zkBTC nodes can become arbiters, earning fees for helping others manage loans and time-based transactions. This system supports Bitcoin staking and rewards nodes with future BeL2 assets and BTC fees. To prevent collusion, anyone can challenge arbiters by submitting proof of misconduct to obtain punishment and compensation. Arbiter nodes are backed by BTC and Elastos SmartWeb’s ELA coin, which is backed by up to 50% of the hashing power of Bitcoin miners including BTC.com, Antpool, F2Pool, ViaBTC, and BinancePool.
This model improves the Bitcoin network by increasing the number of full nodes, which are essential for maintaining decentralization and security. Incentivizing node participation increases the robustness and resilience of the network. Full nodes validate transactions and blocks, contributing to the overall health of the blockchain. Increased participation fosters a secure and trusted environment for Bitcoin transactions, which is essential for the adoption of decentralized finance.
The BeL2 SDK simplifies development, improves security, and provides opportunities for innovation by abstracting away complex blockchain interactions and ZKP operations. This allows developers to integrate Bitcoin features with minimal effort. Additionally, Elastos provides a ZKP explorer to verify zero-knowledge proofs, improving transparency and trust within the BeL2 ecosystem.
“Our vision is to establish a new global financial system anchored by Bitcoin and strengthen its role as the global hard currency,” said Sasha Mitchell, Head of Bitcoin Layer 2 (BeL2) at Elastos. “The launch of the BeL2 protocol, StarBTC demo app, and BeL2 SDK inspires our partners to explore the opportunities of DeFi. We are excited to work with Layer 2s like BEVM and B² Network to demonstrate how Bitcoin-native DeFi can unlock new economic opportunities.”
The BeL2 SDK is a key part of Elastos’ strategy to build a vibrant ecosystem using the BeL2 protocol. The partners are developing key technologies, integrations, and dApps, including BEVM’s Bitcoin-denominated peer-to-peer lending offering and B² Network’s Layer 2 EVM execution environment. Conflux, China’s only public, permissionless, regulatory-compliant blockchain, is integrating with BeL2 to facilitate Bitcoin-denominated transactions and exchanges. Tuna Chain is a Layer 2 solution that enables interoperability across ecosystems, leveraging Elastos’ Bitcoin Oracle for real-time data on Bitcoin-backed activity. EastBlue, a Bitcoin super app, and Spending Power, a Web3 e-commerce platform, are also building integrations with BeL2. This will connect EastBlue users to Elastos’ full dApp portfolio and allow developers to build native Bitcoin applications compatible with Spending Power’s offering.
For more information about the BeL2 SDK, please visit: https://www.npmjs.com/package/@bel2labs/sdk
For more information about Star BTC, visit: https://lending.bel2.org/
About Elastos
Elastos is a public blockchain project that integrates blockchain technology with a suite of redesigned platform components to produce a modern Internet infrastructure that provides intrinsic privacy and ownership protection for digital assets. The mission is to create open source services that are accessible to the world, so developers can create an Internet where individuals own and control their data.
The Elastos SmartWeb platform enables organizations to recalibrate how the Internet works to better control their own data.
Social connections
LinkedIn: https://www.linkedin.com/company/elastosinfo/
X: https://twitter.com/ElastosInfo
Facebook: https://www.facebook.com/elastosorg/
Discord: https://discord.com/invite/elastos
YouTube: https://www.youtube.com/channel/UCy5AjgpQIQq3bv8oy_L5WTQ
Media Contact
Brand: Elastos
Contact: Roger Darashah
Email: support@elastos.info
Website: https://elastos.info/
SOURCE: Elastos
DeFi
If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation
Bonk and Pepe appear set to net new investors 10x to 100x returns over the next 12 months. However, cryptocurrencies in the DeFi play-to-earn gaming sector could offer even greater returns. As August approaches, Rollblock is emerging as a standout DeFi play-to-earn gem with the potential to 100x-1000x gains in the fourth quarter and beyond.
The project features an innovative revenue sharing model and exceptional accessibility, attracting players and investors. Additionally, Rollblock’s extensive game library of over 150 titles and enhanced sports betting are further driving excitement for the platform. Cryptocurrency analysts are expecting a sudden surge in demand. 800% a push for Rollblock from the beginning of September.
Bonk remains strong despite market fluctuations
While most well-known cryptocurrencies struggled throughout July, Bonk remained strong. As one of the highest-grossing meme cryptocurrencies of 2024, Bonk rose over 24% in July, while most cryptocurrencies experienced negative fluctuations.
Investors looking to add a relatively safe memecoin to their portfolio should consider Bonk. While Bonk is unlikely to generate explosive gains of 250x to 1,000x from here on out, Bonk could still theoretically provide returns in the 20x to 100x range.
Pepe should see a big rise in the next bull run
Alongside Bonk, Pepe has yet to go through a bull run. This means that there are still substantial gains to be made from Pepe over the next 12 months.
Pepe is down 4% in 30 days, but that shouldn’t worry Pepe investors in 2024. Experts believe Pepe’s best days are still ahead, with crypto analysts predicting a 10x to 50x surge in the next election cycle around November.
In the long term, Pepe could surpass the 100x mark for today’s investors. However, Pepe is a memecoin, and one should exercise caution when investing in purely speculative assets that have no utility.
Rollblock’s Unprecedented Hype Potential Could Push It Past 100x Valuation in Q4
Rollblock is a GambleFi Play-to-Earn token that integrates centralized and decentralized gambling on a single platform. By allowing players to earn rewards through active participation and gameplay, the platform creates a compelling incentive structure that appeals to both casual and competitive players.
With its cutting-edge blockchain technology, Rollblock offers top-notch security that keeps bets and transactions on the platform secure. The platform’s lack of KYC mandates appeals to both users who value anonymity and security.
Rollblock’s revenue sharing model, which allocates up to 30% of casino revenue to RBLK token holders, is a major draw for investors. The model involves burning half of the repurchased tokens and distributing the other half to stakers, increasing the token’s value and encouraging long-term investment.
The platform is also constantly evolving thanks to user feedback which has enabled updates such as the upcoming sports betting feature within the platform’s casino. This addition will complement Rollblock’s extensive game library of over 150 titles, ranging from traditional poker to innovative blockchain-based games.
RBLK is expected to emerge as one of the leading DeFi tokens in 2024. With a price of $0.0172 with impressive growth potential and over 140 million tokens sold recently, Rollblock is on track to enter the top 100 cryptocurrencies by Q4, making today a lucrative time to buy RBLK tokens.
Discover the exciting opportunities of the Rollblock (RBLK) presale today!
Website: https://presale.rollblock.io/
Social networks: https://linktr.ee/rollblockcasino
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DeFi
Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong
Veteran cryptocurrency investor Arthur Cheong believes the digital asset sector offers long-term holders a golden opportunity.
Cheong, the founder of DeFiance Capital, tell His 171,700 followers on social media platform X indicate that he believes decentralized finance (DeFi) is hugely undervalued.
According to Cheong, DeFi projects are innovating at a rapid pace and leaving traditional financial (TradFi) companies in the dust.
“It’s been a long time since I’ve been this excited about the risk/reward and potential upside of DeFi. This is probably the most misjudged moment since the pre-DeFi summer of 2020, with extremely promising prospects.
I see opportunities not only in OG (original) DeFi, but also in some newer projects that are evolving rapidly and growing at a pace that fintech startups will do anything to match.
The veteran investor also believes that crypto is now here to stay following recent launch from the Ethereum spot market (ETH) exchange-traded funds (ETFs) last week.
“Overall, the floodgates are open and there is no turning back. TradFi asset managers will continue to launch new crypto products because, guess what: there is huge demand for them!”
I expect them to launch actively managed crypto ETFs [in the] coming years. ”
Earlier this month, Cheong laid that it might be a bad strategy for cryptocurrencies to seek mass adoption, believing that digital assets are designed to disrupt several key financial sectors.
“I think we should accept that cryptocurrencies may not be suited for mass adoption like Web2, but rather are optimized for some narrow but very high-impact use cases like stateless global money, cross-border payments, and decentralized finance.
Chasing mass adoption of normies may be chasing the wrong Grail from the start.
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Check Price action
follow us on X, Facebook And Telegram
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Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock/ktsdesign
DeFi
Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong
Veteran cryptocurrency investor Arthur Cheong believes the digital asset sector offers long-term holders a golden opportunity.
Cheong, the founder of DeFiance Capital, tell His 171,700 followers on social media platform X indicate that he believes decentralized finance (DeFi) is hugely undervalued.
According to Cheong, DeFi projects are innovating at a rapid pace and leaving traditional financial (TradFi) companies in the dust.
“It’s been a long time since I’ve been this excited about the risk/reward and potential upside of DeFi. This is probably the most misjudged moment since the pre-DeFi summer of 2020, with extremely promising prospects.
I see opportunities not only in OG (original) DeFi, but also in some newer projects that are evolving rapidly and growing at a pace that fintech startups will do anything to match.
The veteran investor also believes that crypto is now here to stay following recent launch from the Ethereum spot market (ETH) exchange-traded funds (ETFs) last week.
“Overall, the floodgates are open and there is no turning back. TradFi asset managers will continue to launch new crypto products because, guess what: there is huge demand for them!”
I expect them to launch actively managed crypto ETFs [in the] coming years. ”
Earlier this month, Cheong laid that it might be a bad strategy for cryptocurrencies to seek mass adoption, believing that digital assets are designed to disrupt several key financial sectors.
“I think we should accept that cryptocurrencies may not be suited for mass adoption like Web2, but rather are optimized for some narrow but very high-impact use cases like stateless global money, cross-border payments, and decentralized finance.
Chasing mass adoption of normies may be chasing the wrong Grail from the start.
Don’t miss a thing – Subscribe to receive email alerts directly to your inbox
Check Price action
follow us on X, Facebook And Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock/ktsdesign
DeFi
If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation
Bonk and Pepe appear set to net new investors 10x to 100x returns over the next 12 months. However, cryptocurrencies in the DeFi play-to-earn gaming sector could offer even greater returns. As August approaches, Rollblock is emerging as a standout DeFi play-to-earn gem with the potential to 100x-1000x gains in the fourth quarter and beyond.
The project features an innovative revenue sharing model and exceptional accessibility, attracting players and investors. Additionally, Rollblock’s extensive game library of over 150 titles and enhanced sports betting are further driving excitement for the platform. Cryptocurrency analysts are expecting a sudden surge in demand. 800% a push for Rollblock from the beginning of September.
Bonk remains strong despite market fluctuations
While most well-known cryptocurrencies struggled throughout July, Bonk remained strong. As one of the highest-grossing meme cryptocurrencies of 2024, Bonk rose over 24% in July, while most cryptocurrencies experienced negative fluctuations.
Investors looking to add a relatively safe memecoin to their portfolio should consider Bonk. While Bonk is unlikely to generate explosive gains of 250x to 1,000x from here on out, Bonk could still theoretically provide returns in the 20x to 100x range.
Pepe should see a big rise in the next bull run
Alongside Bonk, Pepe has yet to go through a bull run. This means that there are still substantial gains to be made from Pepe over the next 12 months.
Pepe is down 4% in 30 days, but that shouldn’t worry Pepe investors in 2024. Experts believe Pepe’s best days are still ahead, with crypto analysts predicting a 10x to 50x surge in the next election cycle around November.
In the long term, Pepe could surpass the 100x mark for today’s investors. However, Pepe is a memecoin, and one should exercise caution when investing in purely speculative assets that have no utility.
Rollblock’s Unprecedented Hype Potential Could Push It Past 100x Valuation in Q4
Rollblock is a GambleFi Play-to-Earn token that integrates centralized and decentralized gambling on a single platform. By allowing players to earn rewards through active participation and gameplay, the platform creates a compelling incentive structure that appeals to both casual and competitive players.
With its cutting-edge blockchain technology, Rollblock offers top-notch security that keeps bets and transactions on the platform secure. The platform’s lack of KYC mandates appeals to both users who value anonymity and security.
Rollblock’s revenue sharing model, which allocates up to 30% of casino revenue to RBLK token holders, is a major draw for investors. The model involves burning half of the repurchased tokens and distributing the other half to stakers, increasing the token’s value and encouraging long-term investment.
The platform is also constantly evolving thanks to user feedback which has enabled updates such as the upcoming sports betting feature within the platform’s casino. This addition will complement Rollblock’s extensive game library of over 150 titles, ranging from traditional poker to innovative blockchain-based games.
RBLK is expected to emerge as one of the leading DeFi tokens in 2024. With a price of $0.0172 with impressive growth potential and over 140 million tokens sold recently, Rollblock is on track to enter the top 100 cryptocurrencies by Q4, making today a lucrative time to buy RBLK tokens.
Discover the exciting opportunities of the Rollblock (RBLK) presale today!
Website: https://presale.rollblock.io/
Social networks: https://linktr.ee/rollblockcasino
No spam, no lies, only insights. You can unsubscribe at any time.
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