Some Promising Binance Chain Projects in 2021 You Need To Know

Binance blockchain is growing in leaps and bounds, and these are the promising projects to look forward to as the year progresses.

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It’s been almost two years now since Binance launched its own blockchain with high hopes. While the main apparent use of the blockchain – allowing immediate trade of cryptocurrencies, including pegged ones, for an ultra-low fee – has been definitely successful, there’s a whole other side of Binance Chain we hear about much less often: The Binance Chain-based projects with which Binance would be directly competing with long-established development blockchains like Ethereum.

It won’t surprise anyone, knowing Binance’s track record, that this side of Binance Chain hasn’t been abandoned. It has, in fact, been steadily growing, slowly but surely, towards success.

Binance Chain is not a huge blockchain yet by any means, and the community at large still seems to prefer Ethereum or Ripple, but it’s definitely getting established and attracting decent projects with it. Here, we have a list of some of the most notable ones.

Must-Read: How Chainlink Connects Smart Contracts To The Real World And The Opportunities Therein

Verasity

Out of the many blockchain-based video and media distribution services, Verasity seems to be the one closest to reaching success and obtaining some degree of mass usage. This blockchain was created in 2017, although it didn’t launch its ICO until two years later, in 2019.

Back then Verasity, as most blockchain-based system, was housed in the Ethereum network. It was in the second half of 2019 that the project migrated from Ethereum to Binance, where it has resided until today. The project isn’t yet mainstream, but its tokens see constant trades and the price has remained relatively stable, which is good news for a still fledging blockchain-based service.

ZeroSwap

It’s impossible to speak of blockchain projects and services in 2021 without DeFi being somewhere in the list. For Binance Chain, ZeroSwap is the go-to project when looking for blockchain-based financial services and automated token trading.

There’s little one can say about ZeroSwap that hasn’t been said in general about DeFi projects before: ZeroSwap allows users holding crypto tokens to loan them as liquidity to the blockchain. Said chain, in turn, uses them to allow others to perform token exchanges. Trading fees are added to the pools for each trading pair, essentially passing the fees along to the people providing liquidity as a payment for the service.

However, while pretty standard, there’s one special detail about ZeroSwap that many other DeFi projects don’t have: ZeroSwap supports not only Binance Chain, but also Ethereum, allowing for exchanges between tokens of different types.

Read :Cryptocurrencies, Ethereum and The Future

Bounce

Here’s a somewhat uncommon blockchain project: An auction house.

While we regularly see DeFi projects these days and blockchains attempting to forever change the face of the worldwide economy are a dime a dozen, auction houses are for some reason nowhere near as common.

Now, Bounce isn’t exactly the place you can got to auction off your great-grandmother’s old antiques, or at least not unless you tokenize them first – for the blockchain is made specifically to auction non-fungible tokens.

Right now, naturally, its use is relatively niche. However, it has gained traction because over the last year NFTs have gained market share, particularly among collectible projects. If said projects find strong userbases or become sensations like CriptoKitties, we’ll also see Bounce grow with them – and considering the current media involvement in new NFT-based project, this isn’t so much a matter of if, but one of when.

Mithril

In a world where social media is a part of most people’s lives, and where users have increasingly grown wary of the companies behind them and how they handle users’ personal data, Mithril might well be the correct blockchain for the times.

Mithril has always been one of the main blockchains on Binance Chain, partly because it was one of the first – depending on how you see it, THE first, even – projects on it. Its main goal, which is to allow social media users to get paid for the content they create, isn’t necessarily new (most blockchain video sharing and media projects share this aim) but bringing it to social media in general as opposed to just videos a là youtube certainly seems revolutionary.

On top of this approach of letting users get paid for the content they create (and the engagement it drives,) Mithril’s goal isn’t to become a monolithic, self-contained entity. Instead, Mithril embraces what was a common feature early in the 2010: It’s programmed to allow other social media platforms to integrate with it shall they choose to do so.

This could well be a game changer, since one of the main difficulties a social media project faces is finding users. If Mithril, or Mithril-based apps manage to enter the Facebook or Twitter ecosystems, Mithril might well obtain some users from the larger social media.

On the security and privacy side, because that’s what most social media users worry about these days, Mithril presents a fully decentralized social media system using blockchain technology – which would make it essentially impossible for any third parties to hack in and steal users’ data.

It is important to know that since all user data would be handled as described above, presumably not even the owners of Mithril could in any way manage or sell a user’s personal data.

Conclusion

The list of projects that appear promising on Binance Chain provides an insight on the possibilities that the blockchain holds. As the year progresses, it would be clear how much value an investor could explore with these iterated projects.

Cryptocurrencies, Ethereum and The Future

The use of Ethereum in the crypto chain has been monumental, From the initial rise of ICOs to the growth of DeFi, it has become a leading bulwark. Here is the pathway to the future.

Cryptocurrencies took the world by storm in 2017 when Bitcoin reached an ATH that tethered at the $20,000 mark. Ever since, the market has posted some amazing ROI that has left other asset classes scrambling for cover.

With the initial mad rush to take a cut of the bitcoin pie simmering down by nid-2018, investors did begin to explore other crypto with potentials, While ETH was also affected by the downturn that hit the crypto market, other initiatives led to the development of DeFi markets, which largely revolved around Ethereum at the time.

In a factual assessment, with its smart contract features, Ethereum largely led the way for real world assets to be tokenized although that glaring advantage has taken a hit of late. The likes of Cardano, Tron, Stellar, and Ripple have introduced smart contract features that are giving Ethereum platform a good run for the DeFi money.

If you want to thrive in the modern market, you should familiarize yourself with the features of Ethereum that have helped positioned it a leading cryptocurrency and a global digital market frontline asset.

Also Read How Chainlink Connects Smart Contracts To The Real World And The Opportunities Therein

About Ethereum

Ethereum can be referred to as a modern technology covering vast online activities and trading. Ethereum is an online platform that aids payments and transactions globally. It provides an avenue for everyone to work online and earn money.

Ethereum has made transactions globally easy as it covers and accessible globally. All transactions and payments will be made online with ease and no third-party issue. All that is needed is to register on the platform, secure your wallet, fund it and transact with precautions. Ethereum service is also available 24/7 customer support service if you have any issues. 

Perks of Ethereum

This crypto provides an unbiased and equal opportunity for everyone. Being on the platform and obeying rules makes you entitled to benefits and profits concerning trades and activity. 

It serves as a modern avenue for online development and financial breakthrough. Ethereum provides a transparent, open-source service that allows you to monitor your activities and use strategies or codes used by pros on the platform. 

It makes investments much more effortless. Ethereum serves as your bank, your secured wallet, which can be accessed and used for any transaction anytime, anyway. 

It is available in any quantity. You can purchase Ethereum worth any value of money you have for small investors or beginners.  

Recommended: With Companies Investing In Bitcoin, Here Are The Likely Areas of Impact You Need To Know

A Guide on how to get started on the Ethereum platform. 

After registering on the platform, here are the basic things you need to do. 

Select a wallet. This wallet connects you to trading on the platform and keeps records of your transactions. 

Fund your wallet. The currency of Ethereum is ETH, as the US currency is Dollars (USD $). This currency will be exchanged for any transaction with any currency on the platform. This is like a balance to avoid confusion and currency preference. 

Start trading on the platform. This is essential to make profits and key to your financial breakthrough. 

Frequently Asked Questions About Ethereum and its Future

Is it feasible for Ethereum to reach $2000? 

Generally, every cryptocurrency is not fixed; hence rise and fall in their price. Ethereum has once been valued at $1400, though fallen now but very much feasible to exceed the $2000 worth.

Is Ethereum better than Bitcoin? 

With the recent rise in Ethereum value, it is safe to choose Ethereum over Bitcoin in terms of its usability, beyond just as a crypto. Its blockchain value is growing.

Ethereum is the future, and this can be seen from the expanding use it has seen in the DeFi game.

Conclusion

Ethereum is a leading crypto with clearly marketable credentials. With steps taken to re-imagine the blockchain and make it nimble and responsive to marketplace realities, there is no doubt that it is not giving up its market lead so easily.

Recommended: The Attraction of Polkadot Blockchain And Here Is How It Is Making A Difference

How Chainlink Connects Smart Contracts To The Real World And The Opportunities Therein

Chainlink goes beyond giving users a voice on the blockchain to link them with opportunities in the real world.

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CHAINLINK: The platform that connect smart contracts to real-world data.

Chainlink operates using the oracle network. Oracle networks are those networks that provide means through which blockchain or smart contracts can interact with external data and create paths between off-chain and on-chain transactions.

For smart contracts to connect to external data sources or any Application Programming Interface (API) they would have to proceed through an oracle network, in this case, Chainlink. With Chainlink, payments can be sent from smart contracts to any payment platform or bank account around the world.

The Smart Contract Angle

Smart contracts cannot connect directly with external data like APIs and off-chain data; they make use of Chainlink’s network to create a secure connection that provides both off-chain data and end-to-end security. Chainlink achieves this by providing a reliable network with inputs and outputs that are tamper-proof and can be used for complex smart contracts on any block chain.

The ability to execute unalterable and highly secure digital agreements is a property of smart contracts. But for a smart contract to be able to execute unalterable and highly secure digital agreements, the input and output that it relies on must be secure.

Due to the high security of smart contracts, connecting smart contracts with vital external data like APIs and off-chain data is very difficult.

Smart contracts require the use of series of inputs to improve their functionalities and due performance. They also require the use of several outputs to improve their performance and compute transactions that are complex like sending information and payments required to complete the contract. Chainlink helps achieve all these.

The same security guarantee is provided by smart contracts and Chainlink’s decentralized oracle network. To ascertain the value of a smart contract that is reliable, secure, and authentic, multiple Chainlinks are used to evaluate the data contained in the contract. Chainlink’s node operators are paid using a link token.

Read Also: How JustSwap Works

CHAINLINK’S PARTNERSHIPS

Due to Chainlink’s ability to connect external data to blockchain networks in a decentralized manner, many companies in recent times have partnered with them to realize new products. Some of the companies that partnered with them pretty much lately are:

  1. Digitex Futures
  2. CasperLabs
  3. Kakao
  4. Polkadot
  5. Baseline protocol
  6. Hdac technologies
  7. Google clouds
  8. Credits
  9. Oracle
  10.  V Systems… and many others.

Partnership with Digitex Futures

Digitex Futures recently partnered with Chainlink to build a platform that would protect their users’ funds. This partnership was executed because of Chainlink’s up-to-date and tamper proof price data. Another reason for the partnership is to provide a very consistent and accurately priced data that will not fluctuate.

Partnership with CasperLabs

CasperLabs have a blockchain and smart contracting platform, all the applications developed on this platform, by virtue of CasperLabs partnership with Chainlink, will be secured by Chainlink. Chainlink is CasperLabs’ first, and so far, only oracle provider. This partnership would create a user-friendly economic environment.

Must-Read: How Staking Works With Ethereum 2.0

Partnership with Kakao

In mid-2020, Chainlink signed a partnership deal with Kakao. Kakao is a South Korean company, popular for the ownership of one of the widespread mobile messaging app used in Asia, KakaoTalk. Chainlink’s oracle will be incorporated into Kakas blockchain smart contract project as a result of the partnership. This will boost blockchain and crypto mass adoption. Also, Chainlink will provide oracles that are secure and reliable for Kakao’s next generation of decentralized apps.

Partnership with Polkadot

In February 2020, Polkadot became the first Non-Ethereum Blockchain to Integrate Chainlink. On Polkadot, Chainlink will be integrated with an assigned independent blockchain shared with custom characteristics. As a result of this partnership, Chainlink’s stable pricing feeds will service Polkadot’s experimental network.

Partnership with Baseline protocol

Baseline protocol is an intiative led by Consensys and EY News in collaboration with Microsoft. Baseline combines advances in blockchain, cryptography and messaging to deliver private business processes that are secure at a very low cost through Public Ethereum Mainnet. This partnership would lead to the buildup of enterprise oracle solution that would make Ethereum Mainnet compactible for enterprise use.

Partnership with Hdac technologies

The partnership between Hdac and Chainlink will develop a system for delivering off-chain data on blockchain in an attempt to support the execution of smart contract. The partnership will be particularly addressing the biggest obstacle in commercializing smart contract technology- the blockchain oracle problem.

Partnership with Google clouds

Google clouds and Chainlink entered a partnership in a bid to making cloud accessing on public domains easier for developers using Chainlink’s oracles. The partnership will also allow for an on-chain and cloud-based interaction with smart contracts and Ethereum decentralized applications

Partnership with Credits

Credits is a blockchain software protocol that offers block chain products such as wallet and DApp, and infrastructure development tools. Credits is best used for data storage, making payments (both macro and micro) and also for token insurance.

The partnership between Credit and Chainlink would make Clouds go steps higher than its initial features by using Chainlink’s oracle network to secure data from smart contracts and also sustain reliability. This partnership would help foster the growth of technology among businesses especially the businesses of financial institutions

Partnership with Oracle

Oracle is a major tech player in the software industry. They are known majorly for their database management systems. Oracle has, in recent times, shown interest in blockchain technology in a bid to producing a decentralized database. This company partnered with Chainlink to use their Oracle Blockchain platform to create a means through which startups can make money from their APIs.

Partnership with V Systems

V System is a blockchain cloud data base that focuses on the challenge of scalability and governance. The platform seeks to build a space of industrial scale DApps, which would contain features like cross-chain applications, sidechain applications and Smart contract applications. The partnership between V Sytems and Chainlink would create DApps that are exceptionally reliable and that have higher accuracy.

Recommended: The Attraction of Polkadot Blockchain And Here Is How It Is Making A Difference

How JustSwap Works

JustSwap is one of the leading lights of the DeFi boom with billions of dollars in completed trades. Here is how the platform works.

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Justswap: How to use?

One of the main crypto trends of 2020 was decentralized exchanges: Blockchain-based systems that allow people to exchange one token for another in a quick and easy manner, where their reliance on the blockchain itself works as an extra layer of security.

These exchanges are particular because, beyond their main use of allowing people to exchange tokens, they also allow users who are holding cryptocurrencies to use them to provide liquidity, earning a portion of the exchange’s earnings in exchange. This approach has made them popular all over, giving us several stable systems that may well replace the large crypto exchanges in the not too distant future.

Justswap is one of the first such exchanges based in the TRON blockchain. Launched after the overwhelming success of Uniswap, it allows users of TRON to quickly exchange their tokens for one another, including trading for TRC20-based tethered tokens representing the most sought after cryptocurrencies, such as Bitcoin and Ethereum, along with pure TRON-based tokens.

How does it work?

From an end-user point of view, few systems are simpler than Justswap. While there’s a lot going on under the hood, people using it as an exchange should be content with knowing Justwap allows them to exchange TRC20 tokens for one another in a quick, simple manner.

The process can be described as simply filling a form. Yes, it’s simple, and yes, it’s easy. That’s the whole deal with it.

However, there are naturally a few more steps than just that – but said steps are small and simple enough that, after learning of them, you will too consider the process extremely simple.

Read Also:The Big Breakout of Uniswap, Justswap, Trustswap, and The Incredible ROI As DeFi Unfolds

Steps to exchange your tokens using Justswap

Connect to a wallet

Because you can’t use DeFi systems without having a crypto wallet. In Justswap’s case, a TronLink wallet is required, along with the TronLink Chrome extension. You must first log into the wallet from the Chrome extension, and then confirm the password on the Justswap website.

You’ll know you’ve successfully connected to your TronLink wallet because the system will then show you your wallet address along with your crypto balance.

If you’re using the TronLink app on a mobile phone, you should be automatically connected to your current wallet.

Select the token you wish to exchange

On the main page, select the token you wish to exchange on the “From” dropdown. You’ll be shown a list of eligible tokens along with your balance for each of them.

Once you’ve selected the token, if this is your first time trading that token you’ll need to approve the token for use on JustSwap. This is a security measure aimed at making sure you don’t accidentally trade the wrong token, along with authenticating the wallet a second time. In this case, no password should be necessary – just click “Confirm” on the TronLink popup that will appear.

Perform the trade

Now, fully fill the exchange form. You’ll have to specify a token to trade from, a token to trade to, and the amount of crypto you wish to either exchange from or exchange to. Only one of these fields is required, as the other will be automatically filled according to the current going rate.

Once the exchange form is filled, click on the “Swap” button. You’ll be taken to a confirmation screen detailing the exchange you’re about to perform. Click on “Confirm Swap.”

You’ll now be asked to confirm the transaction on your wallet. Once again, since you’re already logged in, you just have to click “Accept.” You can also enable automatic signature so any further transactions of this type during a set amount of time are automatically accepted.

Once you’ve accepted the transaction, your exchange should happen automatically.

Steps to add liquidity to Justswap

If instead of exchanging tokens you wish to add liquidity and potentially earn some crypto, the steps are only a tiny bit more complex.

Instead of using the “Swap” option, click on the “Pool” option once you’ve logged into your wallet. Then, click the “Add liquidity” button.

You’ll be shown a form asking you for two tokens – the specific trading pair you wish to add liquidity to. One of them has to be TRX by design. Click on “Create pool pair” to add the trading pair to your account. You’ll be asked to confirm this pair with your wallet.

On the “Add Liquidity” form you’ll now see your selected trading pair listed as an option. Click on it, and a form to supply liquidity will appear. You’ll need to add liquidity in both tokens of the trading pair. If the trading pair doesn’t already exist in the system, you’ll be able to choose an amount for both. If it already does, you’ll only have to fill one of the tokens – the amount you’ll need of the other one will be automatically calculated.

Once you’ve filled the form, click on the “Supply” button. You’ll be asked to confirm your transaction with TronLink. After you’ve done so, you’ll have successfully added liquidity to Justswap.

You Must Read: How Leverage Trading Works When You Use The Binance Cryptocurrency Exchange

Steps to remove liquidity to Justswap

To remove liquidity, just select the trading pair you’ve added liquidity to and click on “Remove.” You’ll be shown a form letting you know what your current position in the pool is, along with a slider letting you choose the percentage of liquidity you want to remove.

Select the percentage you want, and the amounts in both tokens for the trading pair will be automatically filled. Then, click on “remove”, then confirm the transaction. You’ll once more be asked to confirm the transaction with TronLink. After you’ve done so, your tokens will be removed and returned to your wallet.

Conclusion

We are in the age of decentralized finance, and with the warm embrace that crypto is getting around the world, there is no better time to learn about using DeFi.

Recommended: he Rise and Rise of DeFi, And All You Need To Know About The 3 Leading Yield Farming Global Platforms

Gb Adolph Obasogie is a Partner at Harrison Global Capital. Follow him on Twitter @lyfbeat

How NFTs Fared in 2020 And All The Insights You Need To Know

NFTs offer a terrain that can be explored to make money. As crypto adoption deepens, new products like these are set to make a difference.

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2020 was quite the year, and not only in the social, political, or healthcare levels. Blockchain technology, cryptocurrencies, and other tokens positioned themselves over that time and seem now closer than ever to breaking into the mainstream.

Just one look at the price of Bitcoin, blockchain’s sweetheart, tells us enough about it: The six-months (and ongoing) bull market has surpassed Bitcoin’s previous highs, and the strong interest in it from economy giants hints we might be seeing a new status quo.

However, there’s more to blockchain than Bitcoin or cryptocurrencies, so while Bitcoin keeps going up and up it’s a good idea to take a step back and look at other uses of Blockchain that could well revolutionize our society. In this case, specifically, let’s look at Non-Fungible Tokens (NFT) and how they fared in 2020.

Must-Read: As Blue Chips Acquire Bitcoin, Here Is The Pathway To The Future

Crypto Stamp

Coming from the Austrian Post, Crypto Stamp is an attempt to turn stamps into digital assets in the blockchain, allowing them to be used, traded, and collected as many people do with physical stamps.

While this might seem a silly endeavor, it follows closely on the CryptoKitties craze, where digital collectibles can indeed become sought after and greatly increase in value just by existing.

Thanks to the Blockchain, Crypto Stamp allows stamp collectors to safely trade for them knowing they’re legit (since there’s no way to create “fake” ones,) and giving them the ability to know how many owners any given stamp has had, and how it has been traded or used before.

The Sandbox / Decentraland

A gaming-based NFT (and there are a lot of these,) The Sandbox aims to create a virtual world where the players themselves can own and trade virtual properties and items. Each of these is coined into a non-fungible token to allow for easy trading, creating an in-game economy where every item is truly unique.

More importantly, The Sandbox also allows users to create LAND tokens, which are self-contained gaming experiences. This turns the blockchain into an entertainment center where every LAND token you buy is a wholly new experience, and where content creators can craft unique, one-off experiences tailored for different users.

Terra Virtua

Another collectible-based blockchain platform, Terra Virtua has quickly attracted lots of attention thanks not only to its goals, but also the experience of its creators and the large amount of media companies that seem to be onboard with the project.

Terra Virtua offers its users the chance to trade and own digital collectibles, in much the same way Crypto Stamp above does – although, in Terra Virtua’s case, the collectibles are much more varied than just stamps.

Terra Virtua’s aims is to create a virtual playground where people can own not only decorative digital items, but also entertainment products such as films or music that can be freely used while inside the virtual world.

Moreover, the project aims to include AR and Virtual Reality-based components, allowing for an immersive experience where users, and their friends, can explore each other’s galleries and collections, creating a complex digital environment for entertainment and socialization.

As mentioned above, several media companies are onboard with the project. Among the larger ones are Paramount and Legendary Pictures, whose properties and products are expected to arrive at the platform.

Aavegotchi

Yet another gaming-based NFT (There are tons of these, as gaming and media seem to be the most common uses for NFTs for now,) Aavegotchi is a complex, Tamagotchi-like experience in the sandbox.

In Aavegotchi, each creature is summoned from a portal and is unique. However, unlike other NFTs, Aavegotchis have an intrinsic value themselves, since in order to summon them certain amounts of cryptocurrency must be paid.

On top of each creature being generated as a unique item, users can further personalize them by equipping them with items that will change their stats and looks, allowing every owner of an aavegotchi to have a unique creature (or many) to fit their tastes.

Another somewhat revolutionary component of Aavegotchi is the rarity aspect of their NFTs. Each aavegotchi is created with a rarity, as is common in videogames, which can be common, uncommon, rare, epic, and so on. However, unlike in current videogames, in the Aavegotchi world rarity is permanently changing and getting readjusted based on the market and current existence.

In a unique way, a rare or ultra-rare Aavegotchi could become less rare over time, based on both the creatures the RNG creates and how other users choose to develop and equip their own.

Recommended: With Companies Investing In Bitcoin, Here Are The Likely Areas of Impact You Need To Know

Warp Finance

A DeFi-based project, Warp Finance is one of the non-entertainment related uses of NFTs that could well take flight soon.

Most of Warp Finance’s inner workings aren’t related to non-fungible tokens, so it’s easy to dismiss them at first. Close to the goals of DeFi, Warp Finance’s main approach is to offer loans to those who need them while allowing others to provide liquidity and obtain collateral payments in the form of a portion of the blockchain transaction fees. Call it a high-level staking system, if you will.

However, Warp Finance is also entering the world of NFTs, at first tentatively with limited, collector edition Warp NFTs to be assigned to early users who take part in its “Team Explorer Campaign.”

This campaign, true to the goals of DeFi and Warp Finance, lets users form teams and pool together their liquidity offerings to the blockchain. Teams with larger liquidity offers get rarer NFTs, while teams with lower ones will get more common rewards.

The important part of these NFTs, however, is this: They aren’t just virtual assets to keep as part of a collection. Instead, these Warp NFTs are expected to allow their owners to boost their earnings in the platform, letting them reap higher rewards for lower investments as a thank you for being early adopters and believers in the platform.

Warp Finance is currently one of the most high-profile DeFi-based projects, and shall its approach not only towards NFTs, but towards blockchain banking and funding be successful, we’ll see many more projects of this kind pop up in 2021 and beyond.

Conclusion

In a clear representation of what the crypto scene offers, NFTs have shown that the market can be deepened with new products and innovations. Better adoption of blockchain and crypto beckons in the days ahead.

Read Also:Fan Club Tokens: What are they, and other things you need to know!