DeFi

Loka Mining CEO on Bitcoin’s DeFi Possibilities

Published

9 months ago

7 May, 2024

CEO of Loka Mining on Bitcoin’s DeFi possibilities

Speaking to crypto.news in an interview, Andy Fajar Hardika, CEO of Loka Mining, discussed the evolution of decentralized finance (defi) on the Bitcoin network.

April 19, 2024, Bitcoin mining rewards were torn half. Mining a block will now only generate 3.125 BTC, compared to 6.25 BTC previously. Although Bitcoin halving happens roughly every four years this year, industry players are really talking about how Bitcoin is halving. reduced rewards will affect the mining economy.

With each halving, mining companies must adapt to a bottom margin environment. Cash-strapped companies typically exit the market or merge with larger companies. Unlike previous halving events that occurred in 2016 and 2020, the 2024 halving event could result in a host of consolidations and defaults.

Enter Runes And Ordinaryconcepts that are revolutionizing the challenge landscape on the Bitcoin network.

Runes, like Ethereum’s ERC-20 standard, introduce fungible tokens to the Bitcoin blockchain, while ordinals bring NFTs directly to the network. As the first cryptocurrency, this goes a long way in expanding the possibilities of what Bitcoin can offer beyond simple transactions.

With Runes and Ordinals, Bitcoin finds new ways to close the gap with Ethereum, which has been widely hailed as the king of challenge. However, nothing is without challenges. Scalability issues and concerns about blockchain bloat loom large, echoing past industry hurdles.

Yet the birth of protocols such as Runes and Ordinals shows that Bitcoin can support more diverse decentralized applications. Minors, in return, can compensate for the effect of the halving on income.

Hardika, who runs a cryptocurrency mining company, shared her views on the subject.

How do you view Bitcoin’s evolving role in the defi space, given its recent advancements such as the Runes protocol and its impact on miner revenue and transaction fees?

Bitcoin lacks programmability but has the strongest Lindy effect and has proven to become the de facto store of value. I personally believe that these characteristics make Bitcoin the “mother chain”, attracting new protocols that flourish on Bitcoin’s L2 or sidechain.

In your opinion, can Bitcoin position itself as a competitor to Ethereum in decentralized finance, or do you see a different outcome?

I think what we’ll see in the end is not rivalry, but rather collaboration – where channels will be “merged” and abstracted to a point where regular users don’t really care or care. do not need to understand which channel they are currently using.

As Runes push transaction fees to new heights, how do you think Bitcoin can balance miner reward while keeping transactions affordable and accessible? Are high fees hindering Bitcoin adoption for small transactions?

As Bitcoin has evolved from a P2P electronic payment system to a store of value, I believe the high transaction fees on Bitcoin L1 are significant. This serves as a tradeoff for the security budget that the network must maintain. This is where L2s help scale the network and add programmability to Bitcoin. From a user perspective, solutions like Lightning or ICP with their ckBTC reduce Bitcoin transaction fees to just a few cents.

Historically, Bitcoin lags behind Ethereum in defi applications. How likely are innovations like runes and ordinals to help Bitcoin close this gap? What are the benefits or challenges of Bitcoin in this space?

Ordinals are basically fully on-chain NFTs, parallel to ERC721, while Runes are basically fungible tokens on Bitcoin, parallel to ERC-20. These are just the first building blocks of Bitcoin programmability. Although it is now possible to create an L1 primitive dApp, this is still very limited. I think the real use case would be as anchors allowing L2s to provide a full-fledged challenge application on Bitcoin. A significant benefit would be if we could unlock the massive Bitcoin TVL that is currently in their holders’ wallets.

Some critics say protocols like Runes and Ordinals could cause blockchain bloat and slow transaction times. What do you think of these drawbacks and how do they compare to Ethereum’s scalability challenges?

History has a tendency to repeat itself. A few years ago we had CryptoKitties, the first gamified NFT on the Ethereum network, consuming 13% of all transactions on the Ethereum network. This sparked the discussion about network scalability and ultimately triggered many upgrades and the rise of L2s on Ethereum.

Do you expect a similar trend?

I think we see parallels between runes and ordinals, which now take up significant block space and contribute significantly to the network security budget. As an indirect result, there are now over 50 Bitcoin layers or sidechains that attempt to solve Bitcoin scalability. And of course, just like startups, most of them will eventually disappear or remain dormant – but those with strong utility and real use cases will survive.

Fuente

DeFi

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Published

6 months ago

29 July, 2024

CoinFlix Staff

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!

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Fuente

DeFi

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Published

6 months ago

29 July, 2024

CoinFlix Staff

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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