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What Is Axie Infinity (AXS)?

What Is Axie Infinity (AXS)?

Осторожно! Много текста.

It’s 2021, and that means you can earn money by playing games and breeding virtual pets. An easy way to think of Axie Infinity is to imagine a blockchain game that combines Pokémon, CryptoKitties, and card game elements.

More specifically, Axie Infinity is an NFT game and ecosystem built on the Ethereum blockchain. Its native cryptocurrencies are the ERC-20 tokens Axie Infinity Shard (AXS) and Smooth Love Potion (SLP). AXS is a governance token, and SLP is used for breeding new Axies. AXS is also available as BEP-20 tokens on the Binance Smart Chain (BSC).

Each Axie creature has a different class and is made up of various body parts, stats, and other attributes. To play, you’ll need a team of Axies that can be either purchased or provided by another player. You can store your tokens and NFTs in either an Ethereum wallet or Ronin wallet. The Ronin sidechain allows for nearly instant transactions and allows players to transact tokens and Axies without using the Ethereum blockchain, which reduces transaction costs.

In the future, you’ll also be able to purchase Land NFTs. Both AXS and SLP are available to purchase on Binance and transferable to your Ronin wallet. You can also use the Ronin Bridge to send tokens from an Ethereum wallet to a Ronin Wallet.

Introduction

Following on the concept pioneered by CryptoKitties, Axie Infinity is an Ethereum-based collectible game that’s been growing since 2018. The game is the brainchild of Vietnam-based startup Sky Mavis, starting as a passion project before becoming a popular Ethereum game.

Axie Infinity Shard (AXS) is the token of the Axie Infinity ecosystem. AXS is an ERC-20 governance token launched in November 2020. AXS tokens can be purchased, traded, or earned through playing the game. AXS rewards are given out to the top-ranking players after each season.

Other Axie Infinity tokens include game assets (your Axies) in the form of ERC-721 tokens and Smooth Love Potion (SLP), an ERC-20 token. SLP has famously become part of the play-to-earn movement, letting gamers earn a fairly steady income simply by playing Axie Infinity.

What is Axie Infinity?

In the Axie Infinity ecosystem, the game characters are called Axies. They are non-fungible tokens (NFT) you own and control. You can store them in your crypto wallet, transfer them to other Ethereum addresses, or trade with other players using a blockchain-based marketplace. Apart from Axies, the game features virtual land and items, which are also ERC-721 tokens.

Within the ecosystem, players can use Axie teams in the Adventure mode (PvE – Player vs. Environment) to battle monsters in Lunacia – the Axie Infinity kingdom. They can also choose the Arena mode (PvP – Player vs. Player) to battle other real-life Axie trainers. When you win, you gain an asset called Smooth Love Potion (SLP), which is used for breeding Axies. SLP is also an ERC-20 token and can be traded on exchanges like Binance.

There can be an entry barrier for new players due to relatively high Axie prices and occasionally high Ethereum gas prices. The Ronin Ethereum sidechain helps reduce this problem.

What is Axie Infinity Shard (AXS)?

The AXS coin (Axie Infinity Shard) is not only a governance token, but it also lets holders stake and receive AXS rewards. These rewards come from the Community Treasury, which is filled by marketplace fees and in-game purchases. The total supply of AXS will be 270,000,000. Some tokens were allocated to the public sale, some for the play-to-earn features, and some to Sky Mavis and project advisors. The initial supply at the first public sale was just under 60,000,000. The number of tokens released is expected to grow yearly until 2026.

AXS use cases

Axie Infinity wants to be a mature game that gets players hooked with a strong community and thriving ecosystem. For fans of Pokémon or Final Fantasy, Axie Infinity offers a fun gaming experience to become immersed in.

In August 2021, Axie Infinity reached one million daily active players. Two months later, the number got close to the two million mark. If the game can garner an even larger player base, it will add more value to the ecosystem. As we’ve mentioned earlier, the Ronin sidechain has been implemented to encourage more growth. A future free-to-play version should also do the same.

By playing Axie Infinity, players can earn both AXS and SLP tokens. These tokens can then be exchanged for other cryptocurrencies.

How to store AXS

As AXS is an ERC-20 token, it can be stored in any ERC-20 compatible software wallet such as Trust Wallet, Binance Chain Wallet, Exodus, as well as hardware wallets such as Trezor One or Ledger Nano X. You can also store AXS in your Ronin wallet, a specialized wallet made for Axie Infinity.

What is Ronin wallet?

Ronin wallet is a crypto wallet that operates on the Ronin Ethereum sidechain. It’s a browser extension that allows you to interact with the Axie Infinity Decentralized Application (DApp). As Ethereum can experience high traffic and fees, the Ronin chain makes it much cheaper to play Axie Infinity and interact with its smart contracts. The Ronin wallet is also compatible with other games that use the Ronin blockchain.

What is the Ronin Bridge?

The Ronin Bridge lets you transfer tokens from the Ethereum blockchain to the Ronin side chain. ETH sent to the blockchain becomes wrapped ETH and can be used to buy Axie creatures, SLP, and other items. You can also transfer tokens from the Ronin blockchain to Ethereum to sell on markets like Binance.

What is Smooth Love Potion (SLP)?

Smooth Love Potion (SLP) is an ERC-20 token on the Ethereum network. SLP tokens are the main source of income for players. They can be sold or used for breeding new Axies. The token has an unlimited supply and can be gained by completing daily quests and battling other players. The SLP tokens are burned once used for breeding, and there is a limited amount you can farm per day.

SLP use cases

SLP has three main applications that drive its demand:

  1. It gives users the ability to breed new Axies from two pre-existing Axies. A certain amount of Smooth Love Potions is required, which depends on the breed counts of the two-parent Axies.

  2. Users can receive the token as a reward for reaching new levels with their Axies, completing quests, and winning fights.

  3. SLP holders can speculate on the price and trade it on crypto exchanges like Binance.

These use cases are exactly what has helped to create the play-to-earn model that we see with Axie Infinity. Users are willing to pay for the token, and farmers are willing to earn it. By creating relatively simple methods to farm SLP, anyone with an Axie starter team can start to earn an income.

How to get started with Axie Infinity using the Ronin bridge

If you want to purchase your first team of Axies, you’ll need to get some ETH into your Ronin wallet. As Ronin is a side chain, you’ll also need to wrap your ETH (WETH) with the Ronin bridge. The process requires three main steps:

  1. Purchasing ETH from an exchange like Binance.

  2. Bridging your ETH with the Ronin bridge.

  3. Accessing the Axie Marketplace with your WETH.

For the first step, make sure that you’ve already registered a Binance account and have completed both KYC and AML.

How to buy and transfer ETH to Ronin Wallet

  1. Log in to your Binance account, mouse over the [Trade] tab, and choose the [Classic] or [Advanced] trading view.

  1. Hover over the trading pair displayed on the left and type ETH in the search bar. Choose a suitable ETH pair, in our case [ETH/BUSD].

  1. Purchase your ETH with an order type of your choice. We’ve gone for the simplest method using a market order. Click [Buy ETH] to submit your order.

How to bridge ETH with the Ronin Bridge

  1. First, you’ll need to create a crypto wallet if you don’t already have one. Specifically, you’ll need a wallet that can connect to DApps. MetaMask or Binance Chain Wallet are both good choices.

  2. To begin bridging your ETH, hover over the [Wallet] menu tab and select [Fiat and Spot].

  1. Search for ETH and click [Withdraw].

  1. Copy in the Ethereum ERC-20 address you want to deposit to. This will be the depositing address from your external crypto wallet.

  1. Click the [Network] field and choose [Ethereum (ERC20)].

  1. Check the transaction’s details and click [Withdraw] to send your ETH.

  1. Next, create a Ronin wallet. Note that it’s only available as a browser extension and not a desktop client. Beware of scams. Ronin is not available for mobile users yet.

  2. Head to the Ronin Bridge website and click the [Deposit] button. Connect your MetaMask wallet with the pop-up that shows.

  1. Click [Next] and finish connecting your wallet.

  1. Copy your Ronin wallet’s address into the [Ronin Address] field.

  1. Select the asset you want to deposit by clicking the [Asset] field. In our example, we’re going to deposit ETH.

  1. Finally, click [Next] at the bottom of the page to confirm your details and bridge your tokens to your Ronin wallet.

  2. Before you can play, you’ll need to create your Axie team. Log in to the Axie marketplace and choose the Ronin wallet option. You’ll need to do this if you’ve never created an Axie account before. If it’s your first time logging in, you’ll find instructions on how to open one.

How to buy an Axie on the Axie Marketplace

  1. On the Marketplace, pick an Axie you’d like to purchase. Click on their avatar to find out their stats and other information. You can also use the filters on the left to help your search. If you are not familiar with the game mechanics, we recommend you do some research before buying your first Axies.

  1. On Axie's individual page, click the [Buy now] button to complete the purchase. You will need to confirm the transaction using your Ronin wallet extension.

Don’t forget that a full team requires three Axies. There are strategies and guides to building a team available in the Axie Infinity community, so make sure to do some research before spending your money.

How to download Axie Infinity

Axie Infinity is available for Windows, macOS, Android, and iOS. The best way to install the game is to head to the Axie Infinity homepage and click the [PLAY NOW] button in the top right corner.

This will automatically download a client for your desktop or laptop computer. Note that if you choose the iOS version for your iPhone, you’ll need to have TestFlight enabled on your device. This will allow you to install applications still in development. For Android, you will need to install the .apk file downloaded from the splash screen.

Overview of an Axie

Each Axie is a small fantasy creature made up of a combination of different attributes and characteristics. These are their class, stats, and body parts. As of October 2021, there are 9 different classes of Axies.

What are the Axie base classes?

Axie Infinity has nine classes, of which three are special classes (shown below in bold) without unique Body Parts or Class Cards.

Aquatic

Group 1

Bird

Group 1

Dawn

Group 1

Bug

Group 2

Beast

Group 2

Mech

Group 2

Plant

Group 3

Reptile

Group 3

Dusk

Group 3


An Axie’s class is an important part of how it fights. Each class has a weakness fighting another class type but is stronger against others. Cards are also associated with specific classes, giving them a 10% attack bonus when they use the card against weak types.

For example, Aquatic, Bird, or Dawn Axies will do extra damage against Bug, Beast, or Mech Axies, but they take extra damage from Plant, Reptile, and Dusk classes. In other words, Group 1 classes are strong against Group 2, but weak against Group 3. Group 2 Axies are strong against Group 3 but weak against Group 1. Finally, Group 3 Axies are strong against Group 1 but weak against group 2, closing up the cycle.

What are Axie Abilities/Cards?

There are 132 cards in Axie Infinity associated with six out of nine of the available classes. You can also divide the cards into related body parts, their range, and cost. While any Axie class can use a card, there is bonus damage if it’s associated with their specific class.

What are Axie stats?

Axies have a collection of stats that determine certain characteristics:

HP

Provides each Axie’s total health or hit points. Axies with more HP can take more damage.

Skill

Adds bonus damage to combo attacks.

Morale 

Each Axie’s critical strike chance relies on its Morale, as well as the number of Last Stands they have.

Speed

Axie’s with a higher speed attack first in battle. Speed also reduces the chance of getting a critical hit when defending.


What are Axie body parts?

Every Axie has a combination of six body parts: ears, eye, horn, back, mouth, and tail. The last four determine the exact cards your Axie can use in battle, and each one also affects the creature’s stats.

How much does it cost to start playing Axie Infinity?

As of October 2021, the cheapest Axies cost around $130 US dollars (in WETH). Your Axie team will have three creatures, meaning that you can get started for about $390. The best way to see how much it costs to start playing is to go to the Axie Marketplace and sort by price.

How to get free Axies via scholarships

There are two possible ways to get free Axies. First, you can get Scholarships from other players who provide free teams. Each scholar will then give out a share of their Smooth Love Potion earned to the donor. This is a popular method as users are only allowed to have one Axie account. Therefore, it makes sense for people to put their Axie to use.

Scholarships are provided and managed by other players, not the Axie Infinity team. So you should be cautious when entering into one. CoinGecko is one place to track available scholarships. Once you have your team, you can use it to battle in the Arena or Adventure mode. Note that only the Axies owner (the scholarship manager) can claim the SLP tokens you farm, and it is up to them to send your part of the deal. In most cases, scholars and managers share 50% of the earnings.

An alternative method is to wait for the release of Battles Version 2.0. This update will unlock new game modes that will give users a free Axie to battle with. However, these creatures cannot earn tokens to sell. If you’re looking to use Axie Infinity as a play-to-earn game, you’ll still have to buy the team yourself or get a scholarship.

What affects Axie prices?

Axies can range in price from around $130 to even over $100,000. While their value mainly depends on their in-game power and utility, there’s also a lot of speculation involved. Origin Axies from the game’s early days are usually worth more. There are also Mythical Axies that look more colorful and are particularly rare. Typically, rarer attributes also provide the most utility in-game and demand higher prices. With the massive popularity of Axie Infinity, the market for creatures is now affected not just by players but also by NFT collectors.

How to start farming SLP on Axie Infinity

Users can farm SLP from either Arena matches (PvP) or the Adventure mode (PvE). Battling in both of these activities will cost you energy. Once your energy has run out, you’ll then only be able to complete adventures to farm your SLP.

The amount of energy you have depends on the number of Axies you have. You can see how much energy you have through the game’s main menu at the top of the screen.

  1. Daily quests will earn you 25 SLP. These tasks involve making a daily check-in, completing 10 Adventure mode levels, and winning 5 Arena matches.

  2. The Adventure Mode (PvE) lets you earn up to 50 SLP daily. The specific amount changes based on the level you’re playing on. The first time you play a level, you’ll receive SLP. However, future plays of a certain level aren’t guaranteed to reward SLP. Defeating bosses can also reward you with SLP.

  3. Arena (PvP) matches you against other players based on your ranking. Your ranking also alters the amount of SLP you gain per win. Each match will cost energy, so the amount of SLP you earn in a day will depend on the number of matches you play using energy.

Note that you can still play the game even if you run out of energy. However, PvP matches won’t give you SLP rewards, and PvE matches won’t give you any experience. But you can still climb the ranks or do daily quests.

How to claim your SLP from Axie Infinity

Once you’ve earned SLP, you’ll have to claim it manually. You can only claim your SLP once every 14 days.

  1. From the Axie Infinity home page, connect your Ronin wallet and select [Claim Tokens] from the menu. Then click [Claim SLP] to transfer the tokens to your Ronin wallet.

  2. Go to your account and make sure your Ronin wallet is connected. Click [Claim Tokens] in the menu and then [Claim SLP].

  1. At this stage, you can then transfer your SLP to your Ethereum wallet if you’d like to sell it. You can also send it directly to your Binance Ronin wallet to avoid paying Ethereum gas fees.

What are Axie Lands?

Axie Land are parcels of land in Lunacia, the world where the Axie creatures live. The universe consists of a 301x301 grid which will be sold off in several sales. 25% is available for the first sale, and all prices will increase by 10% in future sales.

The pink squares will host world events, dungeons, chimera spawn locations, and public resource nodes. The map also contains an area known as Luna’s Landing for content creators and roads for traveling. Chests containing land types are purchasable, and multiple chests bought together will contain land in neighboring spaces.

How to buy and transfer AXS to Ronin wallet

AXS can be used for governance, staking, or breeding. If you are a breeder or want to start breeding Axies, you can send AXS directly from Binance to your Ronin wallet without the Ronin bridge. Doing this will save on Ethereum gas fees as you can skip the step of transferring to an external wallet. Just like ETH, AXS is purchasable on Binance.

  1. First, log in to your Binance account, hover over [Trade] and choose either the [Classic] or [Advanced] views.

  1. Next, hover over the displayed trading pair and type AXS in the dropdown menu. Select one of the pairs. In our example, we’ll use [AXS/BUSD].

  1. Choose your order type and the amount you want to purchase. We’ve gone for a simple market order. Click [Buy AXS] when you’ve confirmed your order’s details.

  1. To start withdrawing to your Ronin wallet, you’ll need to hover over the [Wallet] button and select [Fiat and Spot].

  1. Search for AXS and click [Withdraw].

    1. Select the [Network] field.

  1. Choose the Ronin network from the selection.

  1. Make sure you read and understand the warning shown. You will need to replace the ronin: prefix with 0x before proceeding.

  1. Finally, input the amount you want to send and click [Withdraw].

  1. When the withdrawal is completed, you should see your AXS or WETH in your Ronin wallet. You can then use the tokens for breeding or buying Axies in their marketplace.

Closing thoughts

The future of the AXS and SLP tokens relies on the continued playability and popularity of Axie Infinity. The gameplay is fun, fleshed out, and still has room to grow with its reputation as a play-to-earn game. It has attracted many players as the team continues to work on updates and add new features. Axie Infinity and NFT games will likely keep evolving in the blockchain space.

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What Is Livepeer (LPT)?

What Is Livepeer (LPT)?
Livepeer is a decentralized video protocol built on the Ethereum blockchain. It was designed for anyone to seamlessly integrate video content into applications in a decentralized manner and at a fraction of the cost of traditional solutions. Decentralization of video processing is accomplished by distributing the transcoding process to a network of node operators. Transcoding is an essential step in ensuring smooth delivery of video content to end users. It involves taking raw video files and converting them to the optimal state for each end user, based on factors such as device screen size or internet connection.
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Что делать с долларом сегодня

Что делать с долларом сегодня
Сегодня в России для россиян доллар становится очень токсичной валютой. То есть им (долларом) тяжело владеть, если ты владеешь им, то на тебя накладывают различные комиссии, вы наверное уже в курсе, что есть комиссия за хранение валюты на брокерских счетах, на банковских счетах, блокируют swift переводы и так далее. В чём главная опасность? И почему банки сейчас так выжимают людей из доллара? Главная опасность в возможной блокировке российских банков, а точнее корреспондентских счетов российских банков в иностранных банках. Что это такое? В чём суть?
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What Are Nodes?

What Are Nodes?
The definition of a node may vary according to the context. When it comes to computer or telecommunication networks, nodes may act either as a redistribution point or as a communication endpoint. Usually, a node consists of a physical network device, but there are some cases where virtual nodes are used.
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Coin Mixing and CoinJoins Explained

Coin Mixing and CoinJoins Explained
Bitcoin is often referred to as digital cash, but this is a questionable comparison. If Alice pays Bob ten dollars in cash, Bob has no idea where the money came from. If he later goes on to give it to Carol, she will be unable to deduce that Alice was once in possession of it. Bitcoin is different because of its inherent public nature. The history of a given coin (more precisely, an unspent transaction output or UTXO) can be trivially observed by anyone. It’s a bit like writing the transaction amount and names of participants on a bill every time it’s used.
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What Is Anti-Money Laundering (AML)?

What Is Anti-Money Laundering (AML)?
AML regulations attempt to stop the illegal laundering of illicit funds. Individual governments and multinational organizations like the FATF legislate against money laundering activities. Money laundering takes “dirty” money and turns it into clean money. This can be done by disguising the origins of the funds, mixing them with legitimate transactions, or investing them into legal assets.
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What Are Crypto Cards and How Do They Work?

What Are Crypto Cards and How Do They Work?
A typical crypto card lets you earn crypto rewards or instantly convert your crypto to fiat currency to pay for goods and services. Both Mastercard and Visa issue crypto cards, meaning you can use your crypto in millions of locations globally. A prepaid crypto card is similar to a debit card in that it has to be pre-loaded with crypto to spend. You can get a crypto card from a licensed issuer such as a crypto exchange or bank. However, crypto cards aren't without risk. Your funds stored on the card can still lose their market value, and any transactions you make with your card are likely to be taxable.
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What Is Play-to-Earn and How to Cash Out?

What Is Play-to-Earn and How to Cash Out?
Play-to-earn games allow users to farm or collect crypto and NFTs that can be sold on the market. By playing the game regularly, each player can earn more items or tokens to sell and generate an income. Some players have even begun to supplement or replace their salaries playing these blockchain games. However, such activity involves risk, as you typically need to put up an initial investment to purchase characters and items to play the game. Blockchain helps guarantee the collectibility of these items and create working digital economies. Blockchain technology and NFTs allowed for the creation of digital items that are impossible to duplicate. This created the concept of digital scarcity.
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What Is Uniswap and How Does It Work?

What Is Uniswap and How Does It Work?
Uniswap is a set of computer programs that run on the Ethereum blockchain and allow for decentralized token swaps. It works with the help of unicorns (as illustrated by their logo). Traders can exchange Ethereum tokens on Uniswap without having to trust anyone with their funds. Meanwhile, anyone can lend their crypto to special reserves called liquidity pools. In exchange for providing money to these pools, they earn fees. How do these magical unicorns convert one token to the other? What do you need to use Uniswap? Let’s read on.
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Mining Pools Explained

Mining Pools Explained
Mining is integral to the security of Proof of Work blockchains. By computing hashes with certain properties, participants are able to secure cryptocurrency networks without the need for a central authority. When Bitcoin first launched in 2009, anyone with a regular PC could compete with other miners to guess a valid hash for the next block. That’s because the mining difficulty was low. There wasn’t much hash rate on the network. As such, you didn’t need specialized hardware to add new blocks to the blockchain.
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Who Is Satoshi Nakamoto?

Who Is Satoshi Nakamoto?
Satoshi Nakamoto is the pseudonym behind the development of Bitcoin and the authorship of the original Bitcoin whitepaper. The question “who is Satoshi Nakamoto?” has led to speculation of their true identity as well as people falsely claiming they are Satoshi Nakamoto. The creator of Bitcoin has been clouded in mystery for more than a decade. However, it’s clear that Satoshi still owns bitcoins since their public keys were traced from the genesis block, which Satoshi mined.
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What Is Cryptocurrency Mining?

What Is Cryptocurrency Mining?
Cryptocurrency mining refers to the process of verifying and validating blockchain transactions. It’s also the process that creates new units of cryptocurrencies. The work done by miners requires intensive computational resources, but it’s what keeps a blockchain network secure. Honest and successful miners are rewarded for their work with newly created cryptocurrencies plus transaction fees.
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A Quick Guide to Binance Dual Investment

A Quick Guide to Binance Dual Investment
We all know that to get a return on an investment, we need to buy low and sell high. Investing in cryptocurrency is no different. Binance Dual Investment provides a great way to seize Buy Low and Sell High opportunities while also providing you with additional returns. Let’s dive into how it works and exactly how you can get started.
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Hybrid PoW/PoS Consensus Explained

Hybrid PoW/PoS Consensus Explained
A blockchain’s consensus mechanism serves to ensure that there is agreement among participants on the current state of the blockchain. The consensus mechanism determines who is able to add new blocks of transactions, and one of its primary aims is to ensure that the chain is not re-written.
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Your Guide to Binance Earn

Your Guide to Binance Earn
Not interested in trading but still looking to increase your crypto holdings? Is the 0.05% interest your local bank offers on your savings account not exciting enough? Well, you’ll find alternative choices within the Binance Earn product suite. Binance Earn is your crypto savings account. Here, you’ll find a great variety of options for earning passive income with your crypto holdings.
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Delegated Proof of Stake Explained

Delegated Proof of Stake Explained
The Delegated Proof of Stake (DPoS) consensus algorithm is considered by many as a more efficient and democratic version of the preceding PoS mechanism. Both PoS and DPoS are used as an alternative to the Proof of Work consensus algorithm, since a PoW system requires, by design, lots of external resources. The Proof of Work algorithm makes use of a large amount of computational work in order to secure an immutable, decentralized and transparent distributed ledger. Contrarily, PoS and DPoS require fewer resources and are, by design, more sustainable and eco-friendly. To understand how Delegated Proof of Stake works, one must first grasp the basics of the Proof of Work and Proof of Stake algorithms that preceded it.
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Proof of Burn Explained

Proof of Burn Explained
While most blockchain systems either make use of a Proof of Work (PoW) or a Proof of Stake (PoS) consensus algorithm, the Proof of Burn (PoB) is being tested as a possible alternative to those.
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Proof of Authority Explained

Proof of Authority Explained
The cryptocurrency space has changed a lot since the first blockchain transaction on the Bitcoin network. Along with the well-known Proof of Work and Proof of Stake algorithms, other consensus mechanisms were proposed, with alternative methods for reaching consensus within a blockchain system.
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What Is a DoS Attack?

What Is a DoS Attack?
In short, a DoS attack (or Denial-of-Service attack) is a method used to disrupt legitimate users' access to a target network or web resource. Typically, this is accomplished by overloading the target (often a web server) with a massive amount of traffic - or by sending malicious requests that cause the target resource to malfunction or crash entirely.
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What Is a 51% Attack?

What Is a 51% Attack?
Before diving into the 51% attack, it is crucial to have a good understanding of mining and blockchain-based systems. One of the key strengths of Bitcoin and its underlying blockchain technology is the distributed nature of building and verifying data. The decentralized work of the nodes ensures that the protocol rules are being followed and that all network participants agree on the current state of the blockchain. This means that the majority of nodes need to regularly reach consensus in regards to the process of mining, to the version of the software being used, to the validity of transactions, and so forth.
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Delayed Proof of Work Explained

Delayed Proof of Work Explained
Delayed Proof of Work (dPoW) is a security mechanism designed by the Komodo project. It is basically a modified version of the Proof of Work (PoW) consensus algorithm that makes use of Bitcoin blockchain’s hashpower as a way to enhance network security. By using dPoW, Komodo developers are able to secure not only their own network but also any third-party chain that ends up joining the Komodo ecosystem in the future. In fact, dPoW can be implemented for any project that develops an independent blockchain using a UTXO model.
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What Is a Blockchain Consensus Algorithm?

What Is a Blockchain Consensus Algorithm?
A consensus algorithm is a mechanism that allows users or machines to coordinate in a distributed setting. It needs to ensure that all agents in the system can agree on a single source of truth, even if some agents fail. In other words, the system must be fault-tolerant (see also - Byzantine Fault Tolerance Explained). In a centralized setup, a single entity has power over the system. In most cases, they can make changes as they please – there isn’t some complex governance system for reaching consensus amongst many administrators.
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5 BSC Metaverse Projects You Should Know

5 BSC Metaverse Projects You Should Know
The metaverse is an online, immersive space where users can work, play, and socialize in a 3D environment. The metaverse is still developing, but blockchain technology already plays a significant role. BNB Smart Chain (BSC) is the home to many metaverse projects experimenting with play-to-earn blockchain games and community sandboxes.decentral.games lets users play and run their own casino through governance mechanisms. Cyber Dragon and Alien Worlds both provide an RPG-like experience where players have their own character, missions, and loot. TopGoal is also gaming-related but focuses on the collectability of Non-Fungible Tokens (NFTs) to represent sports stars like trading cards.
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A Beginner's Guide to Earning Passive Income With Crypto

A Beginner's Guide to Earning Passive Income With Crypto
Trading or investing in projects is one way to make money in the blockchain industry. However, that typically requires detailed research and a substantial investment of time – but it still won’t guarantee a reliable source of income. Even the best investors can experience prolonged periods of loss, and one of the ways to survive them is to have alternative sources of income.
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What Is Crypto Lending and How Does It Work?

What Is Crypto Lending and How Does It Work?
Crypto lending lets users borrow and lend cryptocurrencies for a fee or interest. You can instantly get a loan and start investing just by providing some collateral. This could be through a DeFi lending DApp or a cryptocurrency exchange. When your collateral falls below a certain value, you will need to top it up to the required level to avoid liquidation. When you return your loan plus a fee, your capital is unlocked.
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A Beginner's Guide to Decentralized Finance (DeFi)

A Beginner's Guide to Decentralized Finance (DeFi)
DeFi lets users access crypto financial services with just no more than a wallet with some crypto. A range of DApps facilitates lending, liquidity provision, swaps, staking, and more across many blockchains. While Ethereum was DeFi's original home, most blockchains with smart contract capabilities now host DeFi DApps. Smart contracts are essential to the services DeFi offers, which include staking, investing, lending, harvesting, and more.
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5 NFT Projects You Should Know

5 NFT Projects You Should Know
The interest in NFTs has exploded. While many NFT projects had a small community of enthusiasts since their early existence, 2021 has brought forth a bit of an NFT bubble. Many thought DeFi would bring mainstream adoption to the crypto space. However, it seems like the value proposition of NFTs is much easier to grasp for people not involved with blockchain technology. As such, some NFT projects have even entered the mainstream. But which ones are they?
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Top 3 NFT Projects on Binance Smart Chain

Top 3 NFT Projects on Binance Smart Chain
The demand for non-fungible tokens (NFTs) keeps growing on Binance Smart Chain (BSC). The blockchain’s speed and low transaction fees make it very attractive for both users and developers. On BSC, Battle Pets, PancakeSwap, and BakerySwap have all pushed further the limits of what an NFT can do. Both Battle Pets and BakerySwap combine collectibles with Decentralized Finance (DeFi) staking for their tokens. PancakeSwap is also experimenting with NFTs that merge collectability, financial utility, and gamification.
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Top 7 NFT Use Cases

Top 7 NFT Use Cases
Massive interest in non-fungible tokens has led to a boom in crypto-collectibles and NFT art. These are two of the most prominent use cases in the DeFi ecosystem, but they aren’t the only applications. Scarcity and uniqueness make non-fungible tokens a good match for real-world assets, logistics, music royalties, and more. As NFTs mature, we can expect to see further adoption of more experimental use cases.
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What Are NFT Games and How Do They Work?

What Are NFT Games and How Do They Work?
NFTs are unique digital collectibles on the blockchain. This feature makes them suitable to use in games as representations as characters, consumables, and other tradeable items. NFT games have become popular in the Game-fi world as a way to earn income. You can sell your in-game NFTs to other collectors and players and even earn tokens with play-to-earn models.
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What Is the Metaverse?

What Is the Metaverse?
The metaverse is a concept of a persistent, online, 3D universe that combines multiple different virtual spaces. You can think of it as a future iteration of the internet. The metaverse will allow users to work, meet, game, and socialize together in these 3D spaces.
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What Are CryptoPunks?

What Are CryptoPunks?
CryptoPunks are collectible pieces of crypto art, represented by NFTs on the Ethereum blockchain. There are 10,000 small, 8-bit-style punks, all with unique features. As one of the first famous NFT projects, they inspired a lot of crypto artists and even the development of the ERC-721 token standard for digital collectibles. The project became more popular in 2021 after some CryptoPunks were sold for millions of dollars, making them some of the most expensive NFTs.
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What Is an Automated Market Maker (AMM)?

What Is an Automated Market Maker (AMM)?
You could think of an automated market maker as a robot that’s always willing to quote you a price between two assets. Some use a simple formula like Uniswap, while Curve, Balancer and others use more complicated ones.
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A Guide to Crypto Collectibles and Non-fungible Tokens (NFTs)

A Guide to Crypto Collectibles and Non-fungible Tokens (NFTs)
The creation of Bitcoin introduced the concept of trustless, digital scarcity. Before it, the cost of digitally copying something was next to nothing. With the advent of blockchain technology, programmable digital scarcity has become possible – letting us map the digital world to the real world. Non-fungible tokens (NFTs), often referred to as crypto collectibles, expand this idea. Unlike cryptocurrencies, where each token is equal, non-fungible tokens are unique and limited in quantity.
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Decentralized Autonomous Organizations (DAOs) Explained

Decentralized Autonomous Organizations (DAOs) Explained
Blockchains are already radically transforming our financial system. However, properties such as trustlessness and immutability aren’t only useful in monetary applications. Another potential candidate ripe for disruption by this technology is governance. Blockchains could enable entirely new types of organizations that can run autonomously without the need for coordination by a central entity. This article will give an introduction to what these organizations might look like.
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A Beginner's Introduction to Cryptoeconomics

A Beginner's Introduction to Cryptoeconomics
In simple terms, cryptoeconomics provides a way to coordinate the behavior of network participants by combining cryptography with economics. More specifically, cryptoeconomics is an area of computer science that attempts to solve participant coordination problems in digital ecosystems through cryptography and economic incentives.
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Pyramid and Ponzi Schemes

Pyramid and Ponzi Schemes
Most individuals that invest in Bitcoin – or that participate in Initial Coin Offering (ICO) events – are usually concerned about two things. First, the Return of Investment (ROI), which represents the profits they will eventually make from the initial investment. Then, there is a second concern, which is related to the amount of risk involved with the investment. When the risks are too high, investors are more likely to lose their initial investment (in parts or completely), which would result in a negative ROI.
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What is Public Key Cryptography?

What is Public Key Cryptography?
Public key cryptography (PKC), also known as asymmetric cryptography, is a framework that uses both a private and a public key, as opposed to the single key used in symmetric cryptography. The use of key pairs gives PKC a unique set of characteristics and capabilities that can be utilized to solve challenges inherent in other cryptographic techniques. This form of cryptography has become an important element of modern computer security, as well as a critical component of the growing cryptocurrency ecosystem.
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History of Cryptography

History of Cryptography
Cryptography, the science of writing codes and ciphers for secure communication, is one of the most important elements that goes into making modern cryptocurrencies and blockchains possible. The cryptographic techniques used today, however, are the result of an incredibly long history of development. Since ancient times, people have used cryptography to transmit information in a secure manner. Following is the fascinating history of cryptography that has led up to the advanced and sophisticated methods used for modern digital encryption.
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What Is Axie Infinity (AXS)?

What Is Axie Infinity (AXS)?
It’s 2021, and that means you can earn money by playing games and breeding virtual pets. An easy way to think of Axie Infinity is to imagine a blockchain game that combines Pokémon, CryptoKitties, and card game elements.
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Is Bitcoin a Store of Value?

When you think of a safe-haven asset, precious metals like gold or silver probably come to mind. They’re investments that individuals flock to as hedges against turmoil in traditional markets. The debate over whether Bitcoin follows in the footsteps of these assets rages on. In this article, we’ll look at some of the main arguments for and against Bitcoin being a store of value.
When you think of a safe-haven asset, precious metals like gold or silver probably come to mind. They’re investments that individuals flock to as hedges against turmoil in traditional markets. The debate over whether Bitcoin follows in the footsteps of these assets rages on. In this article, we’ll look at some of the main arguments for and against Bitcoin being a store of value.
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Приготовьтесь! Биткойн будут сливать, но это не точно

Приготовьтесь! Биткойн будут сливать, но это не точно
Только что в Twitter наткнулся на пост от Jacob Canfield, якобы есть инсайдерская информация, о том что Bitcoin планируют сливать, дабы выбить некоторых конкурентов, потом обратно откупить, подняв стоимость до $70к.
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What Is The Sandbox (SAND)?

What Is The Sandbox (SAND)?
The Sandbox is a play-to-earn game that combines blockchain technology, DeFi, and NFTs in a 3D metaverse. Its virtual world allows players to create and customize their games and digital assets with free design tools. The virtual goods created can then be monetized as NFTs and sold for SAND tokens on The Sandbox Marketplace.
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What Is VeChain (VET)?

What Is VeChain (VET)?
VeChain provides blockchain solutions for businesses around the globe. With plenty of existing industry blockchain applications from supply chain management to anti-counterfeiting and carbon credits, their systems have been proven in the real world. VET is the coin that underpins VeChain, where VTHO is the gas token that’s used for transactions on the VeChainThor blockchain (like Ethereum’s gas).
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More about the Crypto Fans club

More about the Crypto Fans club
Now I will tell you what our club is, how it works and what advantages it has. A minimum of water, a maximum of specifics. The club is a kind of trust fund, which consists of a team of Asset Managers, on the one hand, who invest in the crypto market, and Investors, on the other. I will not describe in this article what cryptocurrency is, why it is growing, and what are its advantages, this topic is worthy of a separate article. You can google all this, or go to coinmarketcap.com and see how the value of a particular cryptocurrency has grown at least this year, and doubts about investing in cryptocurrency should disappear.
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What Is Tether (USDT)?

What Is Tether (USDT)?
Tether (USDT) is one of the most popular stablecoins out there. It was designed to hold a one-to-one value with the US dollar. The coin exists on many different blockchains and has experienced rising trading volumes and improved liquidity over the past few years.
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What Is Solana (SOL)?

What Is Solana (SOL)?
Solana is a blockchain network focused on fast transactions and high throughput. It uses a unique method of ordering transactions to improve its speed. Users can pay their transaction fees and interact with smart contracts with SOL, the network’s native cryptocurrency.
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What Is Ethereum 2.0 And Why Does It Matter?

What Is Ethereum 2.0 And Why Does It Matter?
Ethereum 2.0 is a long-awaited upgrade to the Ethereum (ETH) network that’s promised significant improvements to the functionality and experience of the network as a whole. Some of the more notable upgrades include a shift to Proof of Stake (PoS), shard chains, and a new blockchain at the core called the beacon chain. All of this and more is expected to be phased in through a carefully planned roadmap.
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What Is Polkadot (DOT)?

What Is Polkadot (DOT)?
Polkadot positions itself as the next-generation blockchain protocol, capable of connecting multiple specialized chains into one universal network. With a strong focus on building infrastructure for Web 3.0 – and founded by the Web3 Foundation – Polkadot aims to disrupt Internet monopolies and empower individual users.
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What Is Harmony (ONE)?

What Is Harmony (ONE)?
Harmony is a layer-1 blockchain using sharding and Effective Proof of Stake to achieve scalability, security, and decentralization. The network was launched in 2019 and features trustless cross-chain bridges and four shards, which process transactions in parallel. Effective Proof of Stake encourages decentralization of validators, and sharding shares the network's load among validators, delegators, and users.
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What Is Decentraland (MANA)?

What Is Decentraland (MANA)?
Decentraland is a virtual world and community based on blockchain technology. Users develop and own plots of land, artwork, and Non-Fungible Tokens (NFT). Members also participate in the platform’s Decentralized Autonomous Organization (DAO).
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What Is BUSD?

What Is BUSD?
BUSD is a regulated, fiat-backed stablecoin pegged to the U.S. dollar. For every unit of BUSD, there is one U.S. dollar held in reserve. In other words, the supply of BUSD is pegged to the U.S. dollar at a 1:1 ratio. Holders can swap their tokens for fiat and vice versa. Paxos, the token’s issuer, releases monthly attestations of BUSD’s reserves.
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What Is Filecoin (FIL)?

What Is Filecoin (FIL)?
FFilecoin is a decentralized, peer-to-peer digital storage marketplace using blockchain technology. It’s built on top of InterPlanetary File System (IPFS) and allows users to rent unused hard disk space and earn FIL tokens in return. Let’s see how Filecoin aims to shake up the online storage space.
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What Is Avalanche (AVAX)?

What Is Avalanche (AVAX)?
Avalanche attempts to improve scalability without compromising speed or decentralization. Three blockchains make up its core platform - the Exchange Chain (X-Chain), Contract Chain (C-Chain), and Platform Chain (P-Chain). The X-Chain is used for creating and trading assets. The C-Chain is for smart contract creation. The P-Chain is for coordinating validators and Subnets.
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What Is a Stablecoin?

What Is a Stablecoin?
A stablecoin is a cryptoasset pegged to another asset, such as fiat currencies or precious metals. Stablecoins are designed to maintain a relatively stable price so that users can avoid the volatility risks common in the crypto markets.
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