Bitcoin2
Governance tokens represent the foundation block of all things decentralized. They are the central point of most DeFi projects nowadays, and without them, developers would not have the right to boast how decentralized and better their platform is compared to CEXs.
Like the Agora in ancient Greece, governance models are the main spot for political thought and discussion. Forums are always filled with new entrants and ideas that seek to better the project and increase its value. After all, what is the purpose of investing in a governance token if you wish to destroy or harm the platform? Even in 2021, that sounds too masochistic. But governance tokens are not without their faults. Malicious actors can still perform activities akin to 51% attacks by merely accumulating tokens. With enough financial power, a whale can disrupt the whole project, and singlehandedly create and approve decisions.
However, it is worth noting that it takes a long time to reach such a stage. Until then, users have the power to implement features that can prevent similar events and stop whales in their tracks
Topic: StarsX Platform (Read 138 times)
Bitcoin 1
Governance tokens are tokens that developers create to allow token holders to help shape the future of a protocol. Governance token holders can influence decisions concerning the project such as proposing or deciding on new feature proposals and even changing the governance system itself.
Governance tokens matter because they are the harbinger of ultimate decentralization. There is no mining involved, and the decision-making process is limited only to those who are quite literally invested in a platform. Think of it as shareholders who reap the benefits of a businesses’ success. The company can only succeed if those involved are financially incentivized to push the entire project forward.
Governance tokens represent the foundation block of all things decentralized. They are the central point of most DeFi projects nowadays, and without them, developers would not have the right to boast how decentralized and better their platform is compared to CEXs.
Governance tokens are tokens that developers create to allow token holders to help shape the future of a protocol. Governance token holders can influence decisions concerning the project such as proposing or deciding on new feature proposals and even changing the governance system itself.
Governance tokens matter because they are the harbinger of ultimate decentralization. There is no mining involved, and the decision-making process is limited only to those who are quite literally invested in a platform. Think of it as shareholders who reap the benefits of a businesses’ success. The company can only succeed if those involved are financially incentivized to push the entire project forward.
Governance tokens represent the foundation block of all things decentralized. They are the central point of most DeFi projects nowadays, and without them, developers would not have the right to boast how decentralized and better their platform is compared to CEXs.
The most important and popular use cases and projects in the DeFi sector, let’s take a closer look now.
1. open credit protocols — accessible to everybody
2. supplying platforms and investment
3. decentralised indulgent platforms
4. exchanges and open marketplaces
5. stablecoins
The future of DeFi — potential or all hype?
The final question, of course, is however nice the potential of the entire DeFi movement is? primarily, it are often expressed that there area unit several things within the field of cryptocurrencies that area unit merely overhyped. The immeasurable potential is attributed to the vision in order that the particular product has no probability the least bit to measure up to the exaggerated expectations. What follows is severe edification and neutrality. However, with DeFi, it's a small amount completely different as a result of there area unit already some finished product like MakerDao, and therefore the market has received them well.
Nevertheless, we have a tendency to area unit still in an exceedingly} very early section of the entire DeFi movement. However, the potential behind it's large. though just one spate of DeFi, like disposal, were to achieve the longer term, that's already over enough. If the DeFi system can give loans at higher conditions than most national banks and alternative disposal establishments, this might cause world adoption.
But this can be additionally wherever we have a tendency to area unit already at one amongst the largest hurdles that the DeFi sector still needs to overcome. For one factor, a lot of education is required in order that the plenty even grasp that this different exists. As before, solely a small share is even involved with the problems encompassing cryptocurrencies and blockchain technology. Even fewer upset the DeFi sector particularly or have even detected of it. On the opposite hand, the user-friendliness of such product should be improved tremendously to line the mandatory course for the broad plenty to use it and for world adoption to require place.
1. open credit protocols — accessible to everybody
2. supplying platforms and investment
3. decentralised indulgent platforms
4. exchanges and open marketplaces
5. stablecoins
The future of DeFi — potential or all hype?
The final question, of course, is however nice the potential of the entire DeFi movement is? primarily, it are often expressed that there area unit several things within the field of cryptocurrencies that area unit merely overhyped. The immeasurable potential is attributed to the vision in order that the particular product has no probability the least bit to measure up to the exaggerated expectations. What follows is severe edification and neutrality. However, with DeFi, it's a small amount completely different as a result of there area unit already some finished product like MakerDao, and therefore the market has received them well.
Nevertheless, we have a tendency to area unit still in an exceedingly} very early section of the entire DeFi movement. However, the potential behind it's large. though just one spate of DeFi, like disposal, were to achieve the longer term, that's already over enough. If the DeFi system can give loans at higher conditions than most national banks and alternative disposal establishments, this might cause world adoption.
But this can be additionally wherever we have a tendency to area unit already at one amongst the largest hurdles that the DeFi sector still needs to overcome. For one factor, a lot of education is required in order that the plenty even grasp that this different exists. As before, solely a small share is even involved with the problems encompassing cryptocurrencies and blockchain technology. Even fewer upset the DeFi sector particularly or have even detected of it. On the opposite hand, the user-friendliness of such product should be improved tremendously to line the mandatory course for the broad plenty to use it and for world adoption to require place.
The ERC-721 (Ethereum Request for Comments 721), proposed by William Entriken, Dieter Shirley, Jacob Evans, Nastassia Sachs in January 2018, is a Non-Fungible Token Standard that implements an API for tokens within Smart Contracts.
It provides functionalities like to transfer tokens from one account to another, to get the current token balance of an account, to get the owner of a specific token and also the total supply of the token available on the network. Besides these it also has some other functionalities like to approve that an amount of token from an account can be moved by a third party account. If a Smart Contract implements the following methods and events it can be called an ERC-721 Non-Fungible Token Contract and, once deployed, it will be responsible to keep track of the created tokens on Ethereum.
ERC721 standard outlines a set of common rules that all tokens can follow on the Ethereum network to produce expected results. ERC721 is important for a number of reasons, particularly because of the new use cases it enables as well as its ability to be easily integrated into ecosystem infrastructure. Having a common interface for exchange and wallet operators to easily implement makes Non-Fungible tokens that much more valuable. Assimilation into the ecosystem makes them more liquid, increases price discovery, and allows anyone in the world to own Non-Fungible assets.
It provides functionalities like to transfer tokens from one account to another, to get the current token balance of an account, to get the owner of a specific token and also the total supply of the token available on the network. Besides these it also has some other functionalities like to approve that an amount of token from an account can be moved by a third party account. If a Smart Contract implements the following methods and events it can be called an ERC-721 Non-Fungible Token Contract and, once deployed, it will be responsible to keep track of the created tokens on Ethereum.
ERC721 standard outlines a set of common rules that all tokens can follow on the Ethereum network to produce expected results. ERC721 is important for a number of reasons, particularly because of the new use cases it enables as well as its ability to be easily integrated into ecosystem infrastructure. Having a common interface for exchange and wallet operators to easily implement makes Non-Fungible tokens that much more valuable. Assimilation into the ecosystem makes them more liquid, increases price discovery, and allows anyone in the world to own Non-Fungible assets.
Decentralization is the process of distributing and dispersing power away from a central authority. Most financial and governmental systems, which are currently in existence, are centralized, meaning that there is a single highest authority in charge of managing them, such as a central bank or state apparatus.
There are several crucial disadvantages to this approach, stemming from the fact that any central authority also plays the role of a single point of failure in the system: any malfunction at the top of the hierarchy, whether unintentional or deliberate, inevitably has a negative effect on the entire system.
Bitcoin was designed as a decentralized alternative to government money and therefore doesn't have any single point of failure, making it more resilient, efficient and democratic.
Its underlying technology, the Blockchain, is what allows for this decentralization, as it offers every single user an opportunity to become one of the network's many payment processors.
Since Bitcoin's appearance, many other cryptocurrencies, or altcoins, have appeared, and most of the times they also use the Blockchain in order to achieve some degree of decentralization
There are several crucial disadvantages to this approach, stemming from the fact that any central authority also plays the role of a single point of failure in the system: any malfunction at the top of the hierarchy, whether unintentional or deliberate, inevitably has a negative effect on the entire system.
Bitcoin was designed as a decentralized alternative to government money and therefore doesn't have any single point of failure, making it more resilient, efficient and democratic.
Its underlying technology, the Blockchain, is what allows for this decentralization, as it offers every single user an opportunity to become one of the network's many payment processors.
Since Bitcoin's appearance, many other cryptocurrencies, or altcoins, have appeared, and most of the times they also use the Blockchain in order to achieve some degree of decentralization
What is FLOW Token Distribution?
The Flow network was designed from the ground up as the foundation for a new digital economy. An economy that is owned and governed by its participants.
The ethos, architecture, and token economics of the Flow network as a whole are covered in previously published documents:
• Flow Primer: why we created Flow – and what makes it different
• Technical Papers: deep dive into the unique Flow architecture
• Token Economics: sustainable foundation for the new digital economy
• Token Tech Paper: technical whitepaper outlining token economics
The FLOW token is the native currency of the Flow network, ultimately required for the network and all the applications on top of it to function. FLOW is designed as a payment method as well as long-term reserve asset for the entire Flow economy. The token is a low-inflation and low-circulating-supply asset that is used by validators, developers, and users to participate in the FLOW network and earn rewards. It is also used to transfer fees, serve as collateral for secondary tokens on Flow, and to participate in future protocol governance.
In the FLOW Token Economics paper, we outline the key principles of the FLOW token: diverse use-cases, broad distribution, and minimal monetary inflation. This paper will focus exclusively on the launch of the Flow network and concurrent distribution of the FLOW token.
While the network is fully functional and the tokens have immediate utility in NBA Top Shot as of day one, all tokens distributed to backers, team members, or the community start fully locked up and can only be used for purposes of staking for at least 12 months. During this period, staking rewards are freely transferable and represent the only circulating supply on the network.
All lockup and transfer restrictions begin at the same moment, making sure pre-launch investors, dev team members, and the early community are all on equal footing. . We have endeavored to be as transparent as possible with respect to these details to provide the best understanding and develop the highest confidence across the community as possible.
The Flow network was designed from the ground up as the foundation for a new digital economy. An economy that is owned and governed by its participants.
The ethos, architecture, and token economics of the Flow network as a whole are covered in previously published documents:
• Flow Primer: why we created Flow – and what makes it different
• Technical Papers: deep dive into the unique Flow architecture
• Token Economics: sustainable foundation for the new digital economy
• Token Tech Paper: technical whitepaper outlining token economics
The FLOW token is the native currency of the Flow network, ultimately required for the network and all the applications on top of it to function. FLOW is designed as a payment method as well as long-term reserve asset for the entire Flow economy. The token is a low-inflation and low-circulating-supply asset that is used by validators, developers, and users to participate in the FLOW network and earn rewards. It is also used to transfer fees, serve as collateral for secondary tokens on Flow, and to participate in future protocol governance.
In the FLOW Token Economics paper, we outline the key principles of the FLOW token: diverse use-cases, broad distribution, and minimal monetary inflation. This paper will focus exclusively on the launch of the Flow network and concurrent distribution of the FLOW token.
While the network is fully functional and the tokens have immediate utility in NBA Top Shot as of day one, all tokens distributed to backers, team members, or the community start fully locked up and can only be used for purposes of staking for at least 12 months. During this period, staking rewards are freely transferable and represent the only circulating supply on the network.
All lockup and transfer restrictions begin at the same moment, making sure pre-launch investors, dev team members, and the early community are all on equal footing. . We have endeavored to be as transparent as possible with respect to these details to provide the best understanding and develop the highest confidence across the community as possible.
What Is Circulating Supply?
The amount of cryptocurrency coins or tokens in circulation is a fluctuating value that can increase and/or decrease over time.
If a cryptocurrency is mineable, new coins can be created gradually via mining. In the case of a centralized token, the supply can be increased by the developers at will via instantaneous minting.
The supply can also go down: either deliberately via burning, or as a result of accidents, like sending coins to an irrecoverable address or losing access to a wallet where funds are stored.
The network at large has no reliable knowledge of how much of the total supply is in active circulation, making the metric of circulating supply an imperfect approximation.
Circulating supply should not be confused with total supply, which is the number of coins that have been mined so far minus all the coins that have been knowingly burned, and the maximum supply, which is the hard-coded limit that neither total nor circulating supply can ever exceed.
The term circulating supply refers to the number of cryptocurrency coins or tokens that are publicly available and circulating in the market.
The circulating supply refers to the coins that are accessible to the public and should not be confused with the total supply or max supply. The total supply is used to quantify the number of coins in existence, i.e., the number of coins that were already issued minus the coins that were burned. The total supply is basically the sum of the circulating supply and the coins that are locked up in escrow. On the other hand, the max supply quantifies the maximum amount of coins that will ever exist, including the coins that will be mined or made available in the future.
The amount of cryptocurrency coins or tokens in circulation is a fluctuating value that can increase and/or decrease over time.
If a cryptocurrency is mineable, new coins can be created gradually via mining. In the case of a centralized token, the supply can be increased by the developers at will via instantaneous minting.
The supply can also go down: either deliberately via burning, or as a result of accidents, like sending coins to an irrecoverable address or losing access to a wallet where funds are stored.
The network at large has no reliable knowledge of how much of the total supply is in active circulation, making the metric of circulating supply an imperfect approximation.
Circulating supply should not be confused with total supply, which is the number of coins that have been mined so far minus all the coins that have been knowingly burned, and the maximum supply, which is the hard-coded limit that neither total nor circulating supply can ever exceed.
The term circulating supply refers to the number of cryptocurrency coins or tokens that are publicly available and circulating in the market.
The circulating supply refers to the coins that are accessible to the public and should not be confused with the total supply or max supply. The total supply is used to quantify the number of coins in existence, i.e., the number of coins that were already issued minus the coins that were burned. The total supply is basically the sum of the circulating supply and the coins that are locked up in escrow. On the other hand, the max supply quantifies the maximum amount of coins that will ever exist, including the coins that will be mined or made available in the future.
NFTs are tokenized versions of a non-fungible asset like artwork, real estate or collectibles. Non-fungible assets possess properties and individual characteristics that make them unique and valuable. NFTs have become hugely popular with crypto users and companies alike because of the way they revolutionized the gaming and collectibles space. Since November 2017, there has been a total of $174 million spent on NFTs.
Thanks to the advent of blockchain technology, gamers and collectors can become the immutable owners of in-game items and other unique assets as well as make money from them. In some cases, players have the ability to create and monetize structures like casinos and theme parks in virtual worlds, such as The Sandbox and Decentraland. They can also sell individual digitals items they accrue during gameplay such as costumes, avatars and in-game currency on a secondary market.
For artists, being able to sell artwork in digital form directly to a global audience of buyers without using an auction house or gallery allows them to keep a significantly greater portion of the profits they make from sales. Royalties can also be programmed into digital artwork so that the creator receives a percentage of sale profits each time their artwork is sold to a new owner.
Why do they have value?
Like all assets, supply and demand are the key market drivers for price. Due to the scarce nature of NFTs and the high demand for them from gamers, collectors and investors, people are often prepared to pay a lot of money for them.
Thanks to the advent of blockchain technology, gamers and collectors can become the immutable owners of in-game items and other unique assets as well as make money from them. In some cases, players have the ability to create and monetize structures like casinos and theme parks in virtual worlds, such as The Sandbox and Decentraland. They can also sell individual digitals items they accrue during gameplay such as costumes, avatars and in-game currency on a secondary market.
For artists, being able to sell artwork in digital form directly to a global audience of buyers without using an auction house or gallery allows them to keep a significantly greater portion of the profits they make from sales. Royalties can also be programmed into digital artwork so that the creator receives a percentage of sale profits each time their artwork is sold to a new owner.
Why do they have value?
Like all assets, supply and demand are the key market drivers for price. Due to the scarce nature of NFTs and the high demand for them from gamers, collectors and investors, people are often prepared to pay a lot of money for them.
Stratx was stratis and we can call this coin old project, i tjought about it is the old but gold project, the first time stratis enter top 50 on coinmarketcap was early 2017 and hold at top 50 untill the begining of 2018 and after that maybe there are sell off and distribution in to retail. I still feel very optimistic for strat x ( stratis )
NFT stands for "non-fungible token." This kind of token is like Bitcoin, except while you can trade Bitcoin and have more of the same thing that represents real money at a varying market value, each NFT is unique. You possess the token that says you own something, like an art piece, and you can trade it, but if you do, you'll be getting an entirely different piece. To keep all the parts in place, there's enforced (artificial, but isn't everything?) scarcity.
At a very high level, most NFTs are part of the Ethereum blockchain. Ethereum is a cryptocurrency, like bitcoin or dogecoin, but its blockchain also supports these NFTs, which store extra information that makes them work differently from, say, an ETH coin. It is worth noting that other blockchains can implement their own versions of NFTs.
The coronavirus pandemic played a big role in the NFT boom. Last year, the total value of NFT transactions quadrupled to $250 million, according to a study from NonFungible and BNP Paribas-affiliated research firm L’Atelier.
That’s in no small part because of stay-at-home restrictions that resulted in people spending a lot more of their time on the internet and saving cash from a lack of commuting. It’s similar to the rise of retail traders betting on GameStop and other historically unloved stocks promoted on the Reddit board WallStreetBets.
Meanwhile, it also arrives at a time when bitcoin, ether and other digital coins have surged in value, with bitcoin briefly topping $1 trillion in market value last month.
“Right now we’re living in a point in the world whereby the majority of the population is spending 50% of their time online and a significant amount of their time on a PC,” Whale Shark, a pseudonymous NFT collector who claims to have amassed a collection worth over $2.7 million, told CNBC.
At a very high level, most NFTs are part of the Ethereum blockchain. Ethereum is a cryptocurrency, like bitcoin or dogecoin, but its blockchain also supports these NFTs, which store extra information that makes them work differently from, say, an ETH coin. It is worth noting that other blockchains can implement their own versions of NFTs.
The coronavirus pandemic played a big role in the NFT boom. Last year, the total value of NFT transactions quadrupled to $250 million, according to a study from NonFungible and BNP Paribas-affiliated research firm L’Atelier.
That’s in no small part because of stay-at-home restrictions that resulted in people spending a lot more of their time on the internet and saving cash from a lack of commuting. It’s similar to the rise of retail traders betting on GameStop and other historically unloved stocks promoted on the Reddit board WallStreetBets.
Meanwhile, it also arrives at a time when bitcoin, ether and other digital coins have surged in value, with bitcoin briefly topping $1 trillion in market value last month.
“Right now we’re living in a point in the world whereby the majority of the population is spending 50% of their time online and a significant amount of their time on a PC,” Whale Shark, a pseudonymous NFT collector who claims to have amassed a collection worth over $2.7 million, told CNBC.
How does StarsX work?
1. First, the real-life data and statistics are tokenized using the Fractional NFT methodology, giving users something to trade. These are called ‘Smart Tokens’.
2. The tokens are managed using a bonding curve which automatically sets and adjusts the price of each share token based on supply and demand.
3. When the user purchases a Smart Token, their payment gets added to the reserve balance of that token, and new Smart Tokens are issued to the buyer. What this means is that the reserve balance of the token will increase, as will the supply of that token, and so its price will increase too. When a Smart Token is then liquidated by the user, their username is removed from the supply chain, the reserve tokens are transferred back to the seller, and the overall token price drops again. It really is all about supply and demand.
4. Of course, what this means is that the reserve price is constantly changing and fluctuating – and that’s where stable coin comes in as the common reserve token, designed to ensure that the price fluctuation of the reserve does not impact the overall price of smart tokens as a whole.
1. First, the real-life data and statistics are tokenized using the Fractional NFT methodology, giving users something to trade. These are called ‘Smart Tokens’.
2. The tokens are managed using a bonding curve which automatically sets and adjusts the price of each share token based on supply and demand.
3. When the user purchases a Smart Token, their payment gets added to the reserve balance of that token, and new Smart Tokens are issued to the buyer. What this means is that the reserve balance of the token will increase, as will the supply of that token, and so its price will increase too. When a Smart Token is then liquidated by the user, their username is removed from the supply chain, the reserve tokens are transferred back to the seller, and the overall token price drops again. It really is all about supply and demand.
4. Of course, what this means is that the reserve price is constantly changing and fluctuating – and that’s where stable coin comes in as the common reserve token, designed to ensure that the price fluctuation of the reserve does not impact the overall price of smart tokens as a whole.
How Does a Decentralized Exchange Work?
There are various types of DEXs, that can be divided in these categories:
• On-Chain Order Books
In a DEX that uses on-chain order books, there are network nodes that are assigned to maintain the record of all orders. It also requires the operation of miners to confirm each transaction. Some of the well-known platforms that use on-chain order books include the Bitshares and StellarTerm exchanges.
• Off-Chain Order Books
As opposed to on-chain order books, records of transactions in off-chain order books are hosted in a centralized entity. They utilize “relayers” to help manage these order books. In this respect, off-chain order book DEXs are only quasi-decentralized, unlike other types of DEXs. Examples of DEXs using off-chain order books are Binance DEX, 0x and EtherDelta.
• Automated Market Makers (AMM)
Automated market makers exploded in popularity in 2020, driving much of the DeFi boom, and are used by popular DEX platforms like Uniswap, SushiSwap and Kyber Network. AMMs have no need for order books. Instead, they utilize smart contracts to form liquidity pools that automatically execute trades based on certain parameters.
There are various types of DEXs, that can be divided in these categories:
• On-Chain Order Books
In a DEX that uses on-chain order books, there are network nodes that are assigned to maintain the record of all orders. It also requires the operation of miners to confirm each transaction. Some of the well-known platforms that use on-chain order books include the Bitshares and StellarTerm exchanges.
• Off-Chain Order Books
As opposed to on-chain order books, records of transactions in off-chain order books are hosted in a centralized entity. They utilize “relayers” to help manage these order books. In this respect, off-chain order book DEXs are only quasi-decentralized, unlike other types of DEXs. Examples of DEXs using off-chain order books are Binance DEX, 0x and EtherDelta.
• Automated Market Makers (AMM)
Automated market makers exploded in popularity in 2020, driving much of the DeFi boom, and are used by popular DEX platforms like Uniswap, SushiSwap and Kyber Network. AMMs have no need for order books. Instead, they utilize smart contracts to form liquidity pools that automatically execute trades based on certain parameters.
Decentralized exchanges or DEXs are autonomous decentralized applications (DApps) that allow cryptocurrency buyers or sellers to trade without having to give up control over their funds to any intermediary or custodian. Decentralized exchanges (DEXs) provide more security and privacy than their centralized counterparts, which is why they have seen a substantial increase in activity in recent years.
The most notable decentralized trading platform is Uniswap, which operates on the Ethereum network and allows crypto traders to convert ERC20 tokens via a user-friendly web-based interface directly via their Ethereum wallets.
The StarsX platform can be considered a Decentralized Exchange for Fractional NFT’s – that is, a space where active users can go to exchange and invest in the fractionable NFT’s relating to their proposed outcome.
We have then taken this one step further, putting our skills in the gaming industry to good use in order to build a crypto-economic game which is built upon the trading of virtual assets which link intrinsically with real-life performance and statistical data.
In essence, what StarsX presents is the ideal game for those who want to use their knowledge and understanding of the sport to win big – based on their aptitude for reading data and assessing performance.
However, DEXs are not the silver bullet that will solve all the problems centralized exchanges deal with.DEXs have issues of their own that traders have to always keep in mind whenever planning ahead. With that being said, DeFi is constantly evolving, so we might see all the present disadvantages of DEXs dissipate over time.
The most notable decentralized trading platform is Uniswap, which operates on the Ethereum network and allows crypto traders to convert ERC20 tokens via a user-friendly web-based interface directly via their Ethereum wallets.
The StarsX platform can be considered a Decentralized Exchange for Fractional NFT’s – that is, a space where active users can go to exchange and invest in the fractionable NFT’s relating to their proposed outcome.
We have then taken this one step further, putting our skills in the gaming industry to good use in order to build a crypto-economic game which is built upon the trading of virtual assets which link intrinsically with real-life performance and statistical data.
In essence, what StarsX presents is the ideal game for those who want to use their knowledge and understanding of the sport to win big – based on their aptitude for reading data and assessing performance.
However, DEXs are not the silver bullet that will solve all the problems centralized exchanges deal with.DEXs have issues of their own that traders have to always keep in mind whenever planning ahead. With that being said, DeFi is constantly evolving, so we might see all the present disadvantages of DEXs dissipate over time.
Decentralized finance (commonly referred to as DeFi) is an experimental form of finance that does not rely on central financial intermediaries such as brokerages, exchanges, or banks to offer traditional financial instruments, and instead utilizes smart contracts on blockchains, the most common being Ethereum.
Most applications that call themselves “DeFi” are built on top of Ethereum, the world’s second-largest cryptocurrency platform, which sets itself apart from the Bitcoin platform in that it’s easier to use to build other types of decentralized applications beyond simple transactions. These more complex financial use cases were even highlighted by Ethereum creator Vitalik Buterin back in 2013 in the original Ethereum white paper.
That’s because of Ethereum’s platform for smart contracts – which automatically execute transactions if certain conditions are met – offers much more flexibility. Ethereum programming languages, such as Solidity, are specifically designed for creating and deploying such smart contracts.
How will Ethereum 2.0 impact DeFi?
Ethereum 2.0 isn’t a panacea for all of DeFi’s issues, but it’s a start. Other protocols such as Raiden and TrueBit are also in the works to further tackle Ethereum’s scalability issues.
If and when these solutions fall into place, Ethereum’s DeFi experiments will have an even better chance of becoming real products, potentially even going mainstream
Most applications that call themselves “DeFi” are built on top of Ethereum, the world’s second-largest cryptocurrency platform, which sets itself apart from the Bitcoin platform in that it’s easier to use to build other types of decentralized applications beyond simple transactions. These more complex financial use cases were even highlighted by Ethereum creator Vitalik Buterin back in 2013 in the original Ethereum white paper.
That’s because of Ethereum’s platform for smart contracts – which automatically execute transactions if certain conditions are met – offers much more flexibility. Ethereum programming languages, such as Solidity, are specifically designed for creating and deploying such smart contracts.
How will Ethereum 2.0 impact DeFi?
Ethereum 2.0 isn’t a panacea for all of DeFi’s issues, but it’s a start. Other protocols such as Raiden and TrueBit are also in the works to further tackle Ethereum’s scalability issues.
If and when these solutions fall into place, Ethereum’s DeFi experiments will have an even better chance of becoming real products, potentially even going mainstream
To understand the application, you first need to understand how the Fractionable NFT’s work in the world of online sporting.
TradeStars relies on a few relatively new concepts for the blockchain industry, such as non-fungible tokens (NFTs) and decentralized finance (DeFi). An NFT is a non-fungible token, and in this instance, it represents the real-life performance of all our favorite athletes and sporting teams around the world. Users can suddenly invest in the real-life success of their top players and can own tokens which represent their performance – adding a reality spin to the concept of online sporting gaming and betting.
StarsX operates through Fractionable NFT’s, which allow these performance tokens to be broken up into fractions – presenting users with an opportunity to invest in a small portion of their top players. After all, if every NFT represented one player, it would very quickly become impossible for everyday users to own them. The price of these various tokens is dependent on supply and demand, with the combination of ERC-721 and Bancor Smart Tokens allowing this to be monitored and transacted automatically.
The main body of our platform is built around Fractional NFT markets, which are designed to replicate the real-life performance of any sporting player and, in terms of user design, can be compared to the liquidity pools which are represented on conventional exchange platforms.
The performance of players is tokenized using our Fractionable NFT system, leading to the circulation of shares or “Smart Tokens” as we call them. The platform uses automatic liquidity technology to manage the supply and pricing of these smart tokens, with price validation being drawn from the bonding curve.
Within these Fractional NFT markets, users can purchase and liquidate their smart tokens, with the StarsX platform rendering all tokens interchangeable using the standardized system influenced by Bancor.
TradeStars relies on a few relatively new concepts for the blockchain industry, such as non-fungible tokens (NFTs) and decentralized finance (DeFi). An NFT is a non-fungible token, and in this instance, it represents the real-life performance of all our favorite athletes and sporting teams around the world. Users can suddenly invest in the real-life success of their top players and can own tokens which represent their performance – adding a reality spin to the concept of online sporting gaming and betting.
StarsX operates through Fractionable NFT’s, which allow these performance tokens to be broken up into fractions – presenting users with an opportunity to invest in a small portion of their top players. After all, if every NFT represented one player, it would very quickly become impossible for everyday users to own them. The price of these various tokens is dependent on supply and demand, with the combination of ERC-721 and Bancor Smart Tokens allowing this to be monitored and transacted automatically.
The main body of our platform is built around Fractional NFT markets, which are designed to replicate the real-life performance of any sporting player and, in terms of user design, can be compared to the liquidity pools which are represented on conventional exchange platforms.
The performance of players is tokenized using our Fractionable NFT system, leading to the circulation of shares or “Smart Tokens” as we call them. The platform uses automatic liquidity technology to manage the supply and pricing of these smart tokens, with price validation being drawn from the bonding curve.
Within these Fractional NFT markets, users can purchase and liquidate their smart tokens, with the StarsX platform rendering all tokens interchangeable using the standardized system influenced by Bancor.
As many sporting events have been cancelled worldwide or held without spectators, clubs need to claw back the losses from unsaleable tickets and impacted sponsorship deals. Increasing fan engagement digitally has become a critical priority. As the industry struggles to survive, new technology in sports is needed.
The future of sports, in fact, lies in embracing digitisation and incorporating innovative fan engagement solutions underpinned by blockchain technology as part of clubs' and teams' wider digital strategies. Through digital fan engagement, clubs can adapt to appeal to a younger 'digital native' and foster a sense of loyalty and belonging across geographies. They can open up new revenue streams and improve ROI for investors and sponsors alike as many aspects of the game move increasingly online.
Everything in the world of sports, from game results to player statistics and betting figures, StarsX tend to find that users want to be able to replicate the real-life experience in a setting where they can compete against each other and really find out how deep their sports knowledge goes.
Powered by Ethereum + Matic Layer 2 blockchains, the process provides users with an online trading experience whereby they can trade digital assets and communicate with other sporting fans and betters on a global scale. StarsX envision a future where users move away from their TV’s and social media platforms, and instead head to StarsX for an inclusive and interactive ways of watching and responding to their favorite sports, and competing against other users.
Simply, imagine a space where users get to purchase and invest in various stakes and moves in a sporting game or event,
connected with real-life statistics and data. The platform itself can be considered a Decentralized Exchange for Fractional NFT’s – that is, a space where active users can go to exchange and invest in the fractionable NFT’s relating to their proposed outcome.
We have then taken this one step further, putting our skills in the gaming industry to good use in order to build a crypto-economic game which is built upon the trading of virtual assets which link intrinsically with real-life performance and statistical data.
In essence, what StarsX presents is the ideal game for those who want to use their knowledge and understanding of the sport to win big – based on their aptitude for reading data and assessing performance.
The future of sports, in fact, lies in embracing digitisation and incorporating innovative fan engagement solutions underpinned by blockchain technology as part of clubs' and teams' wider digital strategies. Through digital fan engagement, clubs can adapt to appeal to a younger 'digital native' and foster a sense of loyalty and belonging across geographies. They can open up new revenue streams and improve ROI for investors and sponsors alike as many aspects of the game move increasingly online.
Everything in the world of sports, from game results to player statistics and betting figures, StarsX tend to find that users want to be able to replicate the real-life experience in a setting where they can compete against each other and really find out how deep their sports knowledge goes.
Powered by Ethereum + Matic Layer 2 blockchains, the process provides users with an online trading experience whereby they can trade digital assets and communicate with other sporting fans and betters on a global scale. StarsX envision a future where users move away from their TV’s and social media platforms, and instead head to StarsX for an inclusive and interactive ways of watching and responding to their favorite sports, and competing against other users.
Simply, imagine a space where users get to purchase and invest in various stakes and moves in a sporting game or event,
connected with real-life statistics and data. The platform itself can be considered a Decentralized Exchange for Fractional NFT’s – that is, a space where active users can go to exchange and invest in the fractionable NFT’s relating to their proposed outcome.
We have then taken this one step further, putting our skills in the gaming industry to good use in order to build a crypto-economic game which is built upon the trading of virtual assets which link intrinsically with real-life performance and statistical data.
In essence, what StarsX presents is the ideal game for those who want to use their knowledge and understanding of the sport to win big – based on their aptitude for reading data and assessing performance.
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