At the time of publication, Bitcoin is trading at $38,965. As BTC is facing strong resistance around the $40,000 region, Layer 2 solution Polygon surged roughly 24% in the last 24 hours and is now trading at $2.24.
Let’s review some interesting crypto news in detail for today.
PAID Network has declared the launch of its upgraded PAID dApp to empower businesses and individuals. Moreover, PAID Network strives to streamline the business contract, litigation, and settlement processes through its DeFi-powered SMART Agreements. To further uplift its platform, PAID will add some of the exciting features as listed below to its dApp.
- Smart contract rewrite: The team will update the smart contract code to enhance gas efficiency. Later on, Substrate EVM Pallet support will be implemented to deploy the PAID dApp on Polkadot.
- BSC bridge: Recently, PAID Network has launched its Binance Smart Chain (BSC) bridge to avoid Ethereum transaction fees. Notably, users can unlock their BEP-20 $PAID tokens, which will further bring cross-chain projects to the Ignition platform.
- IPLD integration: The PAID dApp will enable decentralized document storage, utilizing IPLD to integrate with decentralized storage networks.
- PAID dApp UI/UX update: The project has updated the user interface to make it more swift and easy for navigation.
- Connext integration: PAID Network will integrate Connext to extend non-custodial swaps between Ethereum, different EVM-compatible chains, and Layer 2 protocols.
In addition to the above features, the PAID team has plans to implement other features, such as Cemento Library integration, Decentralized Identity (DID) support, and more. Once these innovative features get implemented, they may increase the adoption of PAID Network.
Billionaire investor Mark Cuban has revealed his investment in Polygon (formerly Matic). He stated that his portfolio company, Lazy.com, will integrate the Polygon network to create a platform for NFTs and personal galleries. Polygon provides a Layer 2 Ethereum scaling solution with low gas fees. Further, he said that apart from high TPS and lower gas fees, utility also matters in the current cryptocurrency market. Hence, Cuban said he is a Polygon user and will utilize it more in the near future. Impressively, Polygon is also listed on the Mark Cuban Companies website as one of his holdings. Polygon COO Sandeep Nailwal also described his conversation with Mark Cuban as “truly mind-blowing.”
The leading decentralized exchange, Uniswap, has recorded the highest transaction fees generation. The CEO of Uniswap, Hayden Adams, stated this news on his Twitter account. He said that Uniswap V3 and V2 have individually surpassed Bitcoin in terms of daily fee generation. As per the tweet, Uniswap v3 generated over $4.5 million while v2 garnered $3.8 million in fees for the day. At the same time, Bitcoin was lagging behind both protocols and generated over $3.7 million in daily fees. Additionally, v3 also surpassed v2 in terms of daily transaction volume, with over $1.48 billion in the past 24 hours.
Umbrella Network has announced its launch on the Binance Smart Chain (BSC) public testnet. As stated, users can utilize the BSC network to avoid Ethereum transaction fees. Overall, this will help users to enjoy BSC’s lower fees and faster transaction speed. Umbrella Network is a scalable Layer 2 oracle platform that offers high-speed and reliable data service at low costs. Hence, validators can utilize this integration to run nodes at a significantly lower cost. In addition, the team will boost the BSC Developer’s Challenge to develop new projects on top of its platform utilizing oracle data. Further, the team has also allocated a $60k UMB token prize pool to incentivize this development.
In the last bit of crypto news for today, we have Blind Boxes partnering with e-Money to explore its suite of asset-backed, interest-bearing stablecoins. The e-Money protocol offers a wide range of interest-bearing, currency-backed stablecoins, where each token is backed by a reserve of assets denominated in its underlying currency. Meanwhile, Blind Boxes is a gamified curation platform and launchpad for NFTs. Hence, this coalition helps users to purchase Blind Boxes in their native currencies. Additionally, this will increase the adoption of both the Blind Boxes and e-Money platforms.
Join us on Telegram to receive free trading signals.
For more crypto news, check out the Altcoin Buzz YouTube channel.
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This article has been sponsored by Umbrella. Copyright Altcoin Buzz Pte Ltd.