Polkadot (DOT) is motionless, not showing significant momentum in either direction. However, the bearish pattern indicates the possibility of a correction in the near future.

Polkadot is losing investor support

The Sharpe ratio measures the risk-adjusted return of an investment. Higher values ​​indicate the effectiveness of the asset, while low values ​​indicate unprofitability. At the time of writing, the DOT ratio is -4.32, indicating a lack of incentives for traders and investors.

Messari

Technical indicators do not add positivity to the situation. The relative strength index (RSI) attempted to break through the critical threshold of 50, indicating a potential trend change, but retreated back into bearish territory. Although the price of Polkadot is still far from oversold, the failure to gain a foothold above the 50 mark should be considered an additional hint of an upcoming fall.

DOT Price Forecast: Support at $7 will not hold

At the time of writing, DOT is trading within a descending parallel channel, struggling to confirm the $7 level as support.

tradingview

However, given the above signals, the asset is likely to fail and hit the lower border of the channel at $5. Meanwhile, a successful rebound from $7 could refute the bearish thesis. In this case, DOT will test the nearest resistance levels of $8 and $9.

About Polkadot (DOT)

Polkadot stands as a decentralized Web3 platform designed to integrate diverse private and public networks, oracles, and other technological solutions. Its goal is to enable independent blockchains to share information and transactions through the Polkadot relay chain. This ecosystem fosters the creation and interconnection of decentralized applications and services.

The network’s token (DOT) functions as the governance asset of the network, granting owners a level of control over the protocol. Furthermore, a reward mechanism has been devised wherein active and beneficial network participants receive tokens, while those acting against the network’s interests face a reduction in their network stake. Ultimately, the DOT token plays a crucial role in adding and removing blockchains within the Polkadot ecosystem.

The post Polkadot (DOT) at Risk? Exploring the Chances of a Dip to $5 first appeared on The VR Soldier.

In a significant move to enhance understanding and promote responsible innovation within the Web3 space, Hedera, in partnership with the Blockchain Foundation, has announced the launch of an Education Learning Briefing Series. 

This initiative, designed to explore critical aspects of responsible innovation, is set to unfold across several U.S. cities including Washington, DC; Boston, MA; Columbus, OH; and Anaheim, CA. The series will emphasize the interconnectedness of the burgeoning Web3 ecosystem with traditional financial systems, aiming to highlight the collaborative efforts needed to foster a secure and prosperous digital future.

This educational endeavor aligns with the goals of the bipartisan Financial Literacy & Wealth Creation Caucus and involves key public institutions. It seeks to demonstrate that the development of the Web3 ecosystem is a collaborative effort involving not only new entities but also established institutions that are developing tools and standards for financial security and risk mitigation. 

The briefings will serve as a platform to educate and empower participants in the Web3 market, illustrating the potential of these technologies to support financial literacy and wealth creation among the broader public.

In collaboration with @TheBlockFound, #Hedera is excited to announce the launch of an Educational Learning Briefing Series aimed at educating the market, guiding effective policy, empowering institutions exploring #blockchain, and advancing responsible innovation within #web3.… https://t.co/jFyxFHBMDV

— Hedera (@hedera) April 26, 2024

Bridging Knowledge Gaps in Web3

The kickoff event for the series will feature prominent members from the Congressional Financial Literacy & Wealth Creation Caucus, including U.S. Representatives Joyce Beatty (OH-03), Young Kim (CA-40), and Wiley Nickel (NC-13). Esteemed leaders from the Aspen Institute, Consumer Reports, and the Alliance for Innovative Regulation will also contribute their insights. 

Nilmini Rubin, Chief Policy Officer at Hedera, emphasized the importance of education in the Web3 sector, stating that this initiative aims to build a more informed and resilient ecosystem by engaging with both institutional stakeholders and the community at large.

The series will officially begin with a luncheon briefing in Washington, D.C., scheduled for Tuesday, April 30th, 2024, from 11:30 AM to 1:30 PM EST. This event not only marks Financial Literacy Month but also coincides with Small Business Week, highlighting the series’ commitment to enhancing financial literacy across various demographics. 

Cleve Mesidor, Executive Director of Blockchain Foundation, expressed enthusiasm about bringing these crucial discussions to local communities, underscoring the importance of grassroots involvement in shaping the future of Web3.

Hedera’s Role and Vision for Web3

Beyond the educational series, Hedera continues to play a pivotal role in the development of the Web3 framework. Known for its decentralized, open-source, proof-of-stake network, Hedera is distinguished by its governance model which involves a global council of diverse industry-leading organizations. 

This structure facilitates broad-based participation and decision-making, reflecting a commitment to inclusivity and transparency in the development of digital infrastructure.

As Hedera and Blockchain Foundation advance this educational series, they underscore their commitment to not only fostering innovation but also ensuring that it is conducted responsibly. By addressing the complexities and potential risks associated with Web3, they aim to equip stakeholders with the knowledge and tools necessary to participate effectively and safely in this evolving digital landscape. 

This initiative represents a significant step forward in bridging the gap between traditional financial institutions and the dynamic world of Web3, paving the way for more informed, ethical, and sustainable growth in the digital economy.

MomoAI, a Solana-based Web3 platform that offers social entertainment products, has recently announced a new integration. The platform has mentioned that it is integrating with The Open Network Ecosystem to bring innovation to the world of Web3 gaming. As per the company, this endeavor is very beneficial for it to fulfill its objectives as well as further progress.

MomoAI Integrates with @ton_blockchain Ecosystem – Powering the Future of Web3 Gaming!The integration propels our vision to new heights; we'll unlock game-changing innovations and enhance user experience by tapping into TON's infrastructure.In just 2 months, #MomoAI has hit… pic.twitter.com/VyzpALgR6E

— MomoAI (@Metaoasis_) April 26, 2024

MomoAI Executes TON Integration to Innovate Web3 Gaming

The platform took to its official account on X to disclose this integration. It added that the respective integration will contribute to the advancement in Web3 gaming. In its recent post, the firm noted that the development flourishes the company’s mission to reach exclusive heights. Hence, the platform will reportedly be able to accomplish its vision of emerging as a prominent player in the market.

As a result of this, the MomoAI added, the company will potentially unlock exclusive game-changing innovations. In addition to this, it also focuses on the enhancement of the consumer experience. Keeping that in view, the latest integration with the infrastructure of TON will facilitate the company to a great extent.

The recent market experience of the company has been signifying optimism. In this respect, MomoAI has reportedly made significant progress in the recent couple of months. According to the statement that the firm made on the social media platform, it has reached 1M organic consumers. In the meantime, it has also seen more than 700K of them as active users.

The Integration Includes NFT/Token Migration and In-Game TON Rewards

Apart from that, there are above 160K individuals who use the platform daily. Additionally, the company is matchlessly transitioning its chief in-game assets, premium features, and transactions to its new collaborator TON. The partnership includes the integration of the TON wallet, migration of NFTs and tokens to TON, and in-game rewards with TON.

Nexo, a prominent player in the cryptocurrency space, has announced the launch of Wormhole’s native token, $W , on its platform. This integration marks a significant step forward in bridging the operational divides that exist between various blockchain networks. Wormhole itself is designed to facilitate not only the transfer of tokens but also to enable secure, decentralized messaging across different blockchain platforms. This capability is vital for maintaining real-time communication within the Web3 ecosystem, thereby enhancing the overall privacy and security of user data.

.@wormhole's $W is live on Nexo! Let's explore. Wormhole is dedicated to bridging gaps between diverse blockchain platforms, enabling not just token transfers but also robust, decentralized messaging. This service is crucial for real-time, secure communication across Web3,… pic.twitter.com/OsMNys9PaN

— Nexo (@Nexo) April 25, 2024

Wormhole’s introduction on Nexo is expected to enhance the fluidity with which digital assets can be managed across multiple blockchain environments. By providing tools that maintain the integrity and unique properties of assets while they traverse these diverse networks, Wormhole aims to simplify the complexities traditionally associated with multi-chain transactions. This development could potentially shift how cryptocurrencies are managed on a broad scale, promoting a more interconnected digital asset landscape.

Expanding the Utility of $W in Blockchain Governance

Within the Wormhole network, $W is not merely a medium of exchange but also a tool for governance and protocol enhancement. Token holders have the opportunity to participate in governance decisions, influencing significant protocol upgrades and modifications. This involvement is crucial for the decentralized aspect of blockchain technology, where community input can directly shape the network’s evolution and functionality.

Furthermore, the governance mechanism within Wormhole allows users to earn rewards by actively participating in network activities. This incentivization scheme is designed to encourage ongoing engagement with the platform, ensuring its adaptability and longevity in a rapidly evolving market. The functionality of $W thus extends beyond typical utility tokens, embedding itself deeply into the fabric of the network’s operations.

Bridging Networks, Enhancing Interoperability

Wormhole’s core mission is to enhance the interoperability across more than 30 blockchain networks, making it one of the most expansive services of its kind in the market. This wide-reaching connectivity not only simplifies user interactions with various blockchains but also opens up new possibilities for developers and businesses looking to expand their operations across multiple platforms without compromising on security or efficiency.

The launch of $W on Nexo facilitates this vision by providing a ready marketplace and a liquid environment where these cross-chain activities can thrive. For users of the Nexo platform, this means greater flexibility in asset management, and for the broader blockchain community, it represents a significant advance towards a more integrated and functional blockchain ecosystem.

Tezos Foundation has formed a new partnership with Wallet-as-a-Service provider Magic, to address one of the most pressing challenges of Web3. Thanks to the integration of the Tezos blockchain, Magic’s dApps will be able to offer users a frictionless onboarding experience. 

Tezos blockchain and Magic to overcome the challenge of Web3: user onboarding and authentication

Tezos Foundation has formed a new partnership with Wallet-as-a-Service provider Magic. The goal is to address one of the most pressing challenges in the Web3 space: user onboarding and authentication

"For the past 12 months, Tezos has consistently been a top 10 chain in Magic’s ecosystem." – @magic_labs

Because of this organic growth, Magic is now deepening integration on #Tezos.

Learn more about how they're featuring it as a top blockchain of choice for developers:… pic.twitter.com/jFbh1Rjwm7

— Tezos (@tezos) April 25, 2024

“In the last 12 months, Tezos has consistently been a top 10 chain in the Magic ecosystem.” – @magic_labs Thanks to this organic growth, Magic is now deepening integration with #Tezos. To learn more about how they are presenting it as the top choice blockchain for developers: https://spotlight.tezos.com/magic-simplifies-web3-access/.”

So, on one side there is the Tezos blockchain, famous for its self-amending mechanism and the energy-efficient proof-of-stake consensus algorithm. On the other side, there is Magic’s innovative solution that allows users to effortlessly create wallets, eliminating the need for cumbersome startup phrases, downloads, or plug-ins.

Basically, with the integration of Magic’s seamless wallet solution, decentralized applications (dApps) powered by Tezos can now offer users a frictionless onboarding experience. 

This means that the need for traditional passwords decreases and barriers to entry are reduced.

Tezos blockchain and Magic: a new Web3 infrastructure dedicated to developers

Overall, the partnership between Tezos Foundation and Magic serves as the foundation for the new Web3 infrastructure that opens the doors for developers to create engaging and user-friendly experiences. 

On this matter, Arthur Breitman, co-founder of Tezos, stated the following: 

“The extension of support to Tezos by Magic will make it easier for builders and creators to access new users to their dApps. By combining Tezos’ secure and scalable infrastructure with Magic’s intuitive solutions for authentication and wallet, developers are helped to build decentralized applications accessible to a much wider audience”.

Thanks to Magic’s SDKs and APIs, developers can seamlessly incorporate secure authentication into their Tezos-based projects, focusing on providing exceptional user experiences without compromising security.

Even Sean Li, co-founder and CEO of Magic, wanted to release comments about it:

“Like Magic, Tezos is also focused on security and is winning over the masses through cutting-edge brands like Ubisoft. From day one, Magic has aimed to simplify the complexities of wallets for a multi-chain world. Today, we are excited to deepen our integration with Tezos and unite our ecosystems, offering the best possible user experience to bring the next billion users to Web3.”

The new member of the Foundation Council: former French minister Fleur Pellerin

At the beginning of the month, Tezos Blockchain made headlines for the arrival of a new member in its Foundation Council: former French minister Fleur Pellerin.

In addition to being Minister of Culture and Communication, Pellerin is also the head of a venture capital fund with investments in Web3 companies such as Ledger, Bitfury, and Ramp. 

The new entry of Pellerin in the Tezos Foundation Council should bring with it a wealth of leadership and technological skills.

The Tezos Foundation Council has the general responsibility of managing and administering the Tezos Foundation and its assets and defining the strategy. 

StorageHub, a Polkadot parachain, is joining the decentralized data storage revolution, promoting efficiency and network accessibility through decentralized storage solutions.

StorageHub is a public goods parachain, optimized for file-based storage and larger data sets that are challenging to manage for conventional storage solutions.

The network would be designed to serve as a public goods parachain, prioritizing larger data sets and file-based storage while upholding decentralization principles.

Web3 Foundation, developers of Polkadot, said:

“The essence of StorageHub lies in its ability to offer an efficient, decentralized storage option for web3 applications, enabling the storage of large files and data sets without compromising on decentralization principles​​.”

StorageHub Development

The network would be designed to seamlessly integrate with all Polkadot and Kusama parachains while enabling interoperability via cross-chain messaging (XCM). 

See Also: Renzo Protocol’s EZETH Faces Price Depeg Following End of Airdrop Campaign

Thus, users can interact with StorageHub directly or through the existing parachains.

The project unfolds in two distinct phases. The initial eight-month period focuses on foundational development, laying the groundwork for the platform. 

Subsequently, a four-month phase is dedicated to rigorous testing, auditing, and optimization, ensuring reliability and seamless integration of components.

Following the initial development phase, beta versions of StorageHub would be available to the public for testing and feedback.

Polkadot said this phased approach ensures thoroughness and reliability while laying a solid foundation for StorageHub’s deployment.

Decentralized Storage

Decentralized data storage offers an alternative to centralized systems. It allows users to store, access, and share files in a distributed manner, thereby enhancing security, privacy, and scalability.

While centralized storage relies on a single server, decentralized storage spreads data across network nodes, removing the need for third-party data management.

According to recent data, the sector has reached a market capitalization of $7.5 billion, with Filecoin and Arweave being the dominant blockchains.

Notably, the Binance-backed BNB chain is poised to enter the scene by developing BNB Greenfield, a decentralized storage system with smart contract integrations for Web3 applications.

Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

#Binance #WRITE2EARN

The post Polkadot’s New Storagehub Parachain Targets Improved Data Storage Efficiency appeared first on BitcoinWorld.

The latest edition of the Web3 Summit was held at the Atlantis Palm Hotel in Dubai on April 16th and 17th, 2024, as scheduled. Over two days, the summit addressed a broad range of topics including macroeconomic policies, technological advancements, artificial intelligence, Web3 infrastructure, and financial technology. It featured industry summits, expert speeches, roundtable discussions, and exclusive dinners. The summit aimed to provide participants with comprehensive insights into the current state and future trajectory of Web3 and related technologies. It explored the evolving digital ecosystem, highlighted Web3 development trends, and fostered collaboration within the industry, establishing itself as a key event in the digital and financial technology fields.

During the summit, Gather was invited as a guest and an important partner. Throughout the event, Gather attracted attention from numerous industry partners and engaged in in-depth discussions with its executives.

Simultaneously, as a leading ecosystem in the fields of DePIN, SocialFi, and AI, Gather not only participated deeply in discussions on the development trends of potential tracks including DePIN and AI, but Gather’s CMO, Nishant Rastogi, also delivered a keynote speech at the summit, providing in-depth insights into the current state of the industry, the Gather project, and the development status of the ecosystem.

This summit is becoming a new opportunity for Gather’s development. Through the window of the Web3 Summit, Gather has established partnerships with a series of industry partners to jointly lay out in-depth strategies for fields such as DePIN and AI. Additionally, Gather is expected to expand its global presence based on this, promoting the deepening expansion of the ecosystem into more potential countries and regions, laying a solid foundation for the rapid expansion of its DePIN network.

About Gather

Gather is the world’s first decentralized encrypted communication software, based on Web3.0 infrastructure, cryptographic technology, GProto communication protocol, and G-BOX hardware devices, providing a distributed long-link cluster to facilitate stable decentralized message exchange networks. Gather, from the inception of its product concept design, has been designed around protecting user privacy in Web3.0 applications, returning data ownership to users. Gather aims to be a true blockchain application, with fundamental differences from projects on Web3.0 infrastructure and all cloud servers.

Based on independently developed hardware devices and sold through different national agents to the global market, ownership of Gather hardware belongs to clients, distributed in different data centers. Based on various factors such as encrypted assets, community members, hardware devices, hardware operators, and end users, Gather has achieved improved resource utilization efficiency through decentralized means and provided value to participants, miners, and users.

Ecological Progress

Gather’s global market plan is to seek 20 general distributors/partners in countries. Currently, brand authorization cooperation has been signed in 12 countries, and the first batch of 5000 hardware/node orders has been successfully implemented. Over the next two years, Gather plans to complete the construction of 100,000 hardware nodes.

Currently, Gather’s cooperative national agents include Japan, South Korea, Malaysia, Vietnam, Cambodia, Laos, Dubai, the United Kingdom, Samoa, Singapore, Australia, and Indonesia, while countries under negotiation awaiting signing include Thailand, India, Russia, etc., with a total of 8 countries with partners yet to be developed. Gather will select regions with market vitality and policy stability from these national representatives to invest in and build more data centers, expanding the global map of distributed nodes.

In addition, Gather has already partnered with organizations such as the Malaysian Digital Ministry, Asia Pacific University of Technology & Innovation, Cambridge University Web3.0 Lab, Columbia University Blockchain Research Institute, Dubai Web3.0 Zone International Monetary and Financial Club, and Hong Kong Cyberport. In the future, Gather’s ecosystem partners will continue to grow, accelerating the process of ecological expansion and globalization development.

Gather has now completed preparations for the mainnet launch, with sufficient support from node operators and users. Our Gather GBOX devices were fully activated from 11:00 to 13:00 on April 20th, Kuala Lumpur time. With the official turning of the Gather ecosystem’s value gears, the Web3 space welcomes a brand new era.

Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.

The post Gather attended the Dubai Web3 Summit and embarked on the path of globalization development appeared first on CoinChapter.

The Binary Holdings, a leading web3 infrastructure provider for telecommunication companies, has successfully closed an $8M funding round. Since its inception, The Binary Holdings has set out to onboard the next billion users to Web3, and industry leaders have taken the opportunity to back the team to achieve this mission. This strategic $8 million round included names such as Luna Media Capital, International Blockchain Consulting Group, A3S Group, Plug and Play Ventures, SOSV, Dutch Tech Sports Fund, Strauss Capital and a group of other distinguished names. Collectively, the investors bring with them a wealth of expertise spanning diverse industries across the realms of both Web2 and Web3, heralding a transformative era of growth and innovation for The Binary Holdings.

"As innovators and initiators at the forefront of web3, we are proud to be strategic investment partners with The Binary Holdings. Their seamless integration of telecommunication and blockchain technology supports their goal of onboarding the next billion users to the web3 space. Together, we are ushering in a new era of connectivity, where the BNRY token serves as the cornerstone of a decentralised, user-centric digital ecosystem, revolutionising telecommunications networks and paving the way for a fully interconnected world." - Nikita Sachdev, founder and CEO of Luna Media Capital

The Binary Holding’s dominance at the intersection of telecommunication and Web3 positions it uniquely to serve telecommunication companies in pursuit of web3 solutions to address challenges concerning user activation, engagement, retention and sustainable revenue growth per user. Since these strategic investors have joined the team, The Binary Holdings has meticulously covered ground across Southeast Asia, expanding into countries like Indonesia, Philippines, Myanmar, Vietnam and others. By partnering with the leading operators in these countries, The Binary Holdings will amass exposure to over 200 million users in the next 12 months.

“The Binary Holdings is attempting to do something no other Web3 company has been able to do. Their mission to redefine web3 infrastructure for the telecom industry combines the power and reach of the telecoms with the democratisation promise of web3 tech, and offers the potential to create real-world results on a truly massive scale. The Binary Holdings is positioned to lead the future of the web3 telecom space as they seek to empower the telecom industry one user at a time”. - Gilly Strauss, CEO of Strauss Capital

In addition to the strategic round, The Binary Holdings also recently concluded an oversubscribed community-exclusive presale, highlighting the immense anticipation among community members who have eagerly awaited their listing for months. Responding to this overwhelming demand, the company has opted to initiate a public presale on several top-tier launchpads, leading up to their highly anticipated listing event scheduled for April 30th, 2024.

Serving as the cornerstone of the TBH ecosystem, the Binary Token ($BNRY) plays a pivotal role in facilitating seamless transactions and interactions for the ecosystem's 40 million users. Combined with TBH's planned cutting-edge layer-2 solution, the BNRY token emerges as a catalyst for widespread adoption of Web3, propelling us closer to a fully

interconnected, blockchain-powered world and empowering the transition of the next billion users into the space.

The Binary Holdings boasts an impressive average monthly user base of 38 million, with 3.3 million active daily users, and over 1.1 million active daily wallet transactions. These staggering figures underscore TBH's commitment to delivering Web3 solutions that resonate with users on a daily basis. Recent integrations, including Lost Club Toys and a strategic investment in TwinMatrix Technologies, which offers cutting-edge digital twin solutions for esteemed clients like Changi Airport, further amplify TBH's impact. These integrations not only unlock advanced user activation and engagement solutions for telecom partners but also enhance the role of the $BNRY token as a facilitator for these dynamic interactions across the ecosystem.

"We are deeply honoured to join forces with leaders and innovators hailing from both the Web2 and Web3 realms. Their unwavering support stands as a resounding endorsement of our vision and the ongoing journey of creating value for our telecom partners and true utility for the BNRY token” - Manit Parikh, CEO of The Binary Holdings

The Binary Holdings continually integrates new partners into its growing ecosystem and universe. Each new partnership enhances the value of the TBH ecosystem, empowering the BNRY token with greater utility. These collaborative endeavours extend across DePin, SocialFi, and DeFi, presenting users with abundant opportunities to engage and access a variety of products and services within the ecosystem.

About The Binary Holdings

The Binary Holdings is a leading Web3 infrastructure provider for Telecommunication, BFSI, Gaming and eWallet companies across emerging economies in Southeast Asia. Headquartered in DIFC, UAE, the company emphasises innovation and opportunity across its diverse business ecosystem.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.