Analysis Crypto by Thebittimes.Com

Leading smart contract platform Ethereum (ETH) generates far more revenue from fees per year than any other block chain . New data from crypto tracker Lookon chain reveals that the top altcoin earns $2.728 billion in fees per year, or more than twice its closest rival, Tron (TRX), which earns $459.39 million annually. Ethereum also earned just over twice that of Bitcoin (BTC), the top crypto asset by market cap, which came in at $1.3 billion during the same time frame. Source: Lookonchain/X Other top fee-generating chain s analyzed by Lookon chain include smart contract platform Solana (SOL) with $241.29 million in revenue per year, Binance Smart Chain (BSC) with $176.56 million, and layer-1 block chain Avalanche (AVAX) with $68.83 million. Furthermore, ETH layer-2 scaling solutions zkSync Era, Optimism (OP) and Polygon (MATIC) came in with $59.77 million, $40.4 million and $23.91 million, respectively. Ethereum users pay gas fees paid in ETH and denominate...

Bonk ($BONK), one of the most popular and successful Solana-based meme coins, has experienced a noticeable price drop over the past 24 hours. The value of $BONK has dropped by about 10%, causing concern among meme coin enthusiasts. However, meme coin fans with a little more experience understand that the drop in value of this meme coin should not deter them from investing in all other meme coins. It is a good idea to look at the price predictions, find out what could happen with $BONK, and find out which meme coin is its best alternative. With $BONK not looking as an overly attractive option, meme coin fans are turning to an extremely promising meme coin presale: Pepe Unchained ($PEPU). Let’s check what the future looks like for $BONK, as well as whether $PEPU, which has already reached the $600K milestone, is capable of...

The seafood company that drove restaurant chain Red Lobster to bankruptcy with a misguided ‘Endless Shrimp’ promotion was previously praised for using blockchain technology to promote sustainable seafood production. Bangkok-based Thai Union became Red Lobster’s biggest investor in 2020 and subsequently took the decision to make the company’s popular ‘$20 Ultimate Endless Shrimp’ offer a permanent part of its menu. The promotion, which had been running on a limited-time basis for 20 years, was seen as the ideal way to shift the huge amounts of shrimp that Thai Union was catching. However, a 40% increase in c US tomer traffic saw the chain , which was already struggling due to increased labor costs, falling sales, and the effects of the Covid-19 pandemic, giving away mountains of free shrimp it could ill afford . As reported by CNN, under the stewardship of a CEO appointed by Thai Union, Red Lobster cut ties with two of its breaded shrimp suppliers, leaving the Bangkok-based seafoo...

The Dogwifsaudihat price dipped 60% in the past 24 hours to trade for $0.000198 as of 01:41 a.m. EST on trading volume that plunged 59% as traders cash in on gains made over the weekend. Following the successful conclusion of the fourth Bitcoin halving, altcoins rallied with some meme coins posting double-digit returns. Why Meme Coins Benefited The Most From The Bitcoin Halving Meme coins are viewed as highly speculative investments, as their prices tend to be driven by hype and speculation as opposed to underlying fundamentals. Following the Bitcoin halving on April 20, there was increased excitement in the crypto market. This amplified the speculative behavior of traders around altcoins, leading to rapid price movements in meme coins. The sector’s market capitalization soared 10% following the halving, to almost $54 billion only to retrace a fraction of a percent in the past 24 hours. Meanwhile, WIFSA has merited a position among CoinMarketCap’s top crypto coins on Mo...

Tottenham Hotspur embraces blockchain technology, partnering with Chiliz for a Web3 fan token. Fans can participate in on-chain voting and enjoy club-related rewards with the upcoming $SPURS fan token. Stricter regulations from the FCA in the UK prompt disclaimers on fan token offerings, ensuring compliance and transparency. Tottenham Hotspur has entered the world of blockchain technology by announcing its plan to issue a Web3 fan token, making it the first Premier League team to do so in two years. The London-based football club is set to collaborate with the Chiliz blockchain, offering its fans a unique and engaging experience. Chiliz Blockchain revolutionizing fan engagement Spurs’ decision to tap into blockchain technology is driven by a desire to enhance supporter engagement and provide rewards through a Web3 fan token. This innovative move will be facilitated by Socios.com, a fan engagement platform built on the Chiliz blockchain, which has alre...

Tenet works with LayerZero to integrate omni chain and grow its powers. Tenet is a layer-1 network whose main goal is to make more use cases for liquid staking derivatives (LSDs). A press release sent to CryptoPotato says that Tenet has formed a relationship with LayerZero to help more people use LSDs. LayerZero, on the other hand, is a system for omni chain interoperability that is currently worth more than $3 billion. Setting up a LayerZero link on Tenet would be the first step of the project. It will let anyone make projects and tokens that use the omni chain technology. Basically, this will link Tenet to the many networks that LayerZero runs. Greg Gompan, co-founder of Tenet, said this about the situation: “The partnership with LayerZero is critical for Tenet’s success, as our protocol is cross- chain native at its core. While the initial integreation is helfpul in connecting our chain to the large LayerZero network to leverage its cross- cha...

Software engineers and members of the development lab Ripplex want to create a cross- chain bridge for the XRPL network to bolster cross- chain transfers between different block chain networks. According to a recent Github draft, the proposal outlines how the cross- chain bridge could function and suggests ways to prevent transaction replay. Ripplex Dev Proposes XRPL Cross-Chain Bridge Technology According to a recent draft submitted to Github, developers want to create a cross- chain bridge for the XRP Ledger (XRPL). The technology would allow cross- chain transfers and provide block chain interoperability between XRPL and various networks. “In this proposal, a cross- chain transfer is not a single transaction,” the GitHub draft details. “It occurs on two chain s, requires multiple transactions, and involves an additional server type called a ‘witness.’” If a cross- chain bridge is implemented for XRPL, the block chain will join nu...

Disclaimer: The Industry Talk section Features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com. Stockholm, Sweden, 1st February, 2023, Chainwire According to a recent report published by the IADB, the LAC PropertyChain pilot shows that “complex property transactions can be sufficiently modeled, coded, and processed on a distributed blockchain network.”. The report goes on to explain how the technology can alleviate problems that currently plague real estate transactions in Latin America. The Inter-American Development Bank (IADB) and ChromaWay, a provider of enterprise-grade block chain solutions, have collaborated on a pilot program that demonstrates the ability of Chromia block chain technology to improve property registration processes in Latin America.  The program, called LAC PropertyChain, ran on a permissioned version of Chromia and aimed to increase the transparency of records, streamline th...

The toolkit will allow for creators of sidechains to choose their own consensus mechanism and other application-specific features, whilst inheriting the security of the main chain. Input Output Global (IOG) — the team behind the Cardano ecosystem — will release a software toolkit in late Jan. 2023 that will enable developers to deploy custom-built sidechains on Cardano aimed at improving the ecosystem. The news was announced by IOHK — a blockchain engineering company founded by Charles Hoskinson and now known as IOG — on Jan.12, which also attached the official technical documentation for the sidechain toolkit. ️ The #Cardano sidechain toolkit was previewed at #IOScotFest, and we’re happy to share the first iteration is out now. Here’s the lowdown on this exciting new project! https://t.co/Ny9tQuJh5K — Input Output (@InputOutputHK) January 12, 2023 IOG Developers have already used the toolkit to construct an Ethereum Virtual Machine (EVM)-compatible side chain public testnet a...

Ava Labs, the team behind the layer one (L1) smart contract platform network Avalanche, has partnered with Amazon Web Services (AWS), according to an announcement made on Jan. 11, 2023. Founder and CEO of Ava Labs, Emin Gün Sirer, said the collaboration was a “big deal” and, in comparison with other block chain announcements that involved AWS, he insisted that this partnership is “meaningful.” Founder and CEO of Ava Labs, Emin Gün Sirer, Comments on Collaboration with Amazon Web Services According to Ava Labs, the company behind the block chain network Avalanche (AVAX), the firm has partnered with Amazon Web Services (AWS) to “accelerate enterprise, institutional, and government adoption of block chain .” The team published the announcement on Jan. 11, 2023, and said that AWS will support the Avalanche network and decentralized application (dapp) ecosystem. “Critically, Avalanche node operators can run in AWS Govcloud for Fedramp compliance ...

Multichain Integrates NEAR Protocol, so developers can interact with NEAR seamlessly and freely with 0% cross-chain fee charged. This integration enables USDT, USDC, wBTC, among others, to be bridged between NEAR and 15+ chain s, including Ethereum, Polygon, BNB, Arbitrum, and Avalanche, among others. The combined initial liquidity between NEAR side and EVM chain s side is currently over $30M, with around 21M USDC, 9.5M USDT, and $200k wBTC. The USDT deployed on NEAR is the native USDT issued by Tether and the USDC deployed is the Rainbow bridge version of USDC. Additionally, the $NEAR token can be transferred between NEAR Protocol and Ethereum. The token addresses on NEAR Protocol are the following: USDC : a0b86991c6218b36c1d19d4a2e9eb0ce3606eb48.factory.bridge.near USDT : usdt.tether-token.near NEAR : mpc-multichain.near wBTC : 2260fac5e5542a773aa44fbcfedf7c193bc2c599.factory.bridge.near AURORA : aaaaaa20d9e0e2461697782ef11675f668207961.factory.bridge.near WOO : 4691937a7508860f87...

Disclaimer: The Industry Talk section features insights from crypto industry players and is not a part of the editorial content of Cryptonews.com. Business is quickly moving onto the blockchain, and companies that are slow adopting decentralized technology are at risk of falling behind their peers. However, building decentralized apps or even a custom blockchain is time-consuming and challenging. It takes an experienced development team to turn project visions into reality. That’s where blockchain development companies come in. In this guide, we’ll review the 8 best blockchain development companies of 2022 and help companies choose the best development firm to bring their decentralized project to life. The 8 Best Blockchain Development Companies Let’s dive straight into our list of the 8 best blockchain development companies for 2022: Tech Alchemy - Best Blockchain Development Company for Projects of All Sizes Consensys - Best Blockchain App Deve...