New York-based blockchain tech company Kadena has announced a multi-protocol decentralised exchange (DEX) named Kadenaswap. 

Kadenaswap will utilize Kadena’s 20-chain sharded and scalable layer-1 public blockchain with 480,000 transactions per second capability. To celebrate the occasion, Kadena is offering a free month of gas during October 2020, is launching a developer engagement program, and is partnering with ZelCore on full-node incentivisation for miners. 

Explaining the motivation behind Kadenaswap, the company pointed out that as DeFi continues to grow by billions each month, the fundamental problems of Ethereum are “breaking platforms and sending developers scrambling.” 

Ethereum is currently the infrastructure that most DeFi activity relies on, but it is struggling to cope, and gas prices have reached as high as $99 per transaction. Non-DeFi apps have been crowded out and recent hacks have caused losses of ten of millions of dollars – highlighting the major security issues faced by developers when dealing with Ethereum’s smart contract language, Solidity. 

While major DeFi projects have looked at alternative blockchain platforms, including “CeFi”, which leverages centralised exchanges’ scalability, and layer-2 networks like the Lightning Network, Kadenaswap is taking a different approach.

By leveraging Kadena’s multi-chain scalability and scaling on the base layer, and using decentralised bridge technology in Pact for access to major protocols regardless of the chain they originate on, Kadenaswap maintains a truly decentralised approach.

Kadena Co-founder and President, Stuart Popejoy, explained:

“Ethereum made DeFi possible, but congestion and high gas prices threaten the sustainability of the DeFi experiment just as it is poised to skyrocket.

“Kadenaswap’s support for multiple protocols and the ability to scale across the Kadena public multi-chain network will provide a much-needed, fully decentralized alternative to ‘CeFi’ on centralized exchanges and off-chain Layer-2 solutions. 

“Combined with community efforts like our developer program launch and free gas campaign, Kadenaswap shows a way forward to mass adoption of DeFi protocols.”

Kadenaswap will leverage the Pact smart contract language to interoperate with major DeFi protocols and stablecoins such as BTC, CELO, DAI, DOT, LINK, and ETH. It will also launch in stages beginning with the creation of native decentralized bridges to Ethereum as well as other networks such as Cosmos and Polkadot. 

Kadena’s founders bring proven financial and technical expertise from building J.P. Morgan’s first blockchain and previously working at the U.S. Securities and Exchange Commission (SEC). Additionally, as the first layer-1 multi-protocol DEX, Kadenaswap will create opportunities for automated market makers (AMMs) to balance liquidity across networks. 

Toward this end, a governance token named KDAX is under consideration to allow stakeholders to participate in setting incentives and other mechanisms. The first stage of Kadenaswap, which will include major components such as bridges, ERC-20 wrapped tokens, etc. will go live in Q4 of this year. Additional details can be found in the release of the company’s Q4 2020 roadmap next month.

AYO.NEWS says:

Has Kadena just presented the first real alternative for the DeFi ecosystem? There’s little doubt that Kadena’s multi-chain, sharded, scalable blockchain is technically impressive – and has resulted in the world’s fastest blockchain (which also addresses both environmental and security concerns), so success might end up coming down how well Kadena sells itself in the social sphere – after all, there are, for some reason, still a lot of diehard Ethereum loyalists out there. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020

French esports data startup PandaScore has secured €5M in a Series A funding round. 

The company, which specialises in artificial intelligence-driven statistics and odds data, attracted investment from French VC firm Serena, aXiomatic Gaming (owner of Team Liquid), Alven, and KB Partners. 

PandaScore, which previously raised $2.8M in a July 2017 seed round led by Alven, says it will use its latest funding to grow its team and expand its data services to cover more games.

Commenting on the round Founder and CEO of PandaScore, Flavien Guillocheau, said:

“Esports’ explosive growth is dependent on better data. Better data lets media companies broadcast more engaging content, bookmakers offer better esports products, and teams and tournaments capture more lucrative sponsoring money. Data is the fuel that powers the esports community and we’re proud to be supplying that fuel.”

While Principal at Serena, Olivier Martret, added:

“The COVID-19 pandemic highlighted a significant lack of resilience among traditional bookmakers, who really need to increase their agility. And this is where Pandascore can help. 

“At Serena, we are convinced that PandaScore’s tech is a key asset both for traditional bookmakers, enabling them to gain new market shares, and for newcomers in the bookmaker industry, offering them an unfair advantage to provide efficient and reliable services.”

Pandascore is based in Paris and also runs an office in Malta. The company’s current clients include BetCris, Pixel.bet, Sleeper, Strafe, and Top Esports. 

AYO.NEWS says:

With bookies everywhere falling over themselves to improve their esports offering, we’re sure PandaScore will put this latest investment to good use!

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020

CelerX offers a new way to monetise casual games by tapping into the power of blockchain and esports.

Casual gaming is booming, but many developers are still struggling to effectively monetise their products. So, AYO.NEWS’ Simona caught up with Mo Dong, co-founder of Celer Network, to find out how the CelerX esports platform offers a compelling alternative to traditional monetisation strategies like advertising, and get his take on the future of blockchain and esports.

Discover more about Celer Network and the CelerX Game Monetisation Engine here.

Nairobi-based Young Entrepreneurs Network Africa is developing a stablecoin to pay for training and participation in sports events. 

According to The Africa Report, YENTS (Young Entrepreneurs Network Token) is slated for launch in November, and will initially be used to pay for participation in networking, training and sports events. 

CEO, Kamau Nyabwengi, says there are also plans to use the token to raise investment for a planned golf course within 18 months, and there is real potential for blockchain to be used for financial services in Africa, particularly in aggregating small-scale pooled savings for investment projects. 

The stablecoin is currently being tested under the Kenyan regulatory sandbox, which was launched to encourage the local blockchain industry. If YENTS can secure Kenyan regulatory approval, Nyabwengi wants to roll out YENTS across other African countries. 

Staying with African blockchain projects, earlier this year we reported that Zimbabwean cryptocurrency Zimbocash (ZASH) had managed to list on major crypto exchange Bithumb, and was aiming to offer its TRON-based token as an alternative currency for the hyperinflation-plagued southern African nation. 

Meanwhile, on the other side of the continent, in Senegal, Grammy award-winning American singer, songwriter, producer, entrepreneur, philanthropist, and actor, Akon, is attempting to build a “100% crypto-based city” on 2,000 acres of land near Dakar. Akon also has his very own cryptocurrency, the AKoin. 

AYO.NEWS says:

Though there are some notable efforts to embrace blockchain technology by individual companies and authorities across Africa, the continent still clearly needs a more coherent and unified regulatory approach if it is going to make the most of the opportunities presented by the technology. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020

Estonian authorities are clamping down on foreign companies and individuals abusing its e-residency program to commit crypto frauds.

In Summer 2020, Estonian authorities revoked the licenses of over 500 crypto companies which had taken advantage of the country’s crypto-friendly stance and e-residency scheme, but still failed to establish any legitimate operations in the small Baltic nation.

Estonia took the drastic action, after it became clear that it was the centre of a huge $220 billion money laundering network, which involved the local division of Denmark’s biggest lender, Danske Bank A/S. 

However, a recent police report suggests Estonia’s e-residency scheme is still being used by foreign individuals to perpetuate a host of cryptocurrency frauds and scams abroad. 

According to Bloomberg, the Financial Intelligence Unit of the Estonian police, says that companies registered abroad but run by Estonian e-residents have been involved in large-scale exit scams, and “suspicious initial coin offerings and the misappropriation of large sums within them.”

Apparently, since the program was launched in 2014, Estonia has issued around 70K digital IDs to e-residents from a total of 174 countries – with many going to Finnish, Russian, and Ukrainian citizens. 

But, despite being successful in many ways, the scandals have severely tarnished Estonia’s reputation – especially its cryptocurrency sector. Now, the government says its e-residency team is working with police to clean-up the mess and root out the bad actors, and it is looking at making changes to the system so it is less open to abuse. 

The police are said to be paying particular attention to companies that offer cryptocurrency exchange and custody services for foreign clients. Illustrating the scale of Estonia’s crypto fraud problems, today there are only 353 companies with a cryptocurrency license in the country, compared to 1,234 at the end of 2019. 

AYO.NEWS says:

Estonia serves as a cautionary tale for everyone. Though its e-residency scheme has been extremely successful in many ways, particularly in delivering public services to local residents and businesses, the authorities were obviously too trusting and/or too eager to establish the country as a crypto hub. 

However, it doesn’t necessarily mean that taking your time when introducing regulations makes a country any less prone to corruption – just ask Malta. The key has to be a balanced, realistic outlook, and this can only happen when policy makers are educated and fully understand the issues. 

Staying with Estonia, just last week, B2B casino games supplier Ganapati’s Estonia arm was declared bankrupt, with the company blaming the COVID-19 induced economic crisis. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020

There are fewer than 2.5M Bitcoin (BTC) left to mine, or less than 12% of the total 21M that will ever exist. 

According to ChartBTC, there are now over 18.5M BTC in circulation, meaning there are less than 2.5M left to be mined – and 50% of those are expected to be generated within the next 4 years. 

However, the last Bitcoin isn’t likely to be mined until over a century from now, in 2140, because of the number of halvings that are due between now and then – each of which is designed to halve the number of new BTC mined. 

Halvings happen every four years, and three have happened since the BTC genesis block was created in 2009. But, with another 30 due to take place before 2140, the flow of new BTC to the network will slow to a trickle before the final block is mined. 

The Bitcoin network has passed 18,500,000 BTC in circulation. Less than 2,500,000 left and half of those will be mined in the next 4 years. #bitcoin pic.twitter.com/0yPo57XIaR

— ChartsBTC (@ChartsBtc) September 27, 2020

AYO.NEWS says:

With the world rapidly destabilising on what seems like every front, from economic and social, to environmental and security, and both retail and institutional demand for BTC growing, at the same time as the flow of new BTC starts to dramatically slow, is the stage being set for the long anticipated BTC bull run to $100K or more? 

Staying with Bitcoin, just last week Brazilian fund manager Hashdex and US stock exchange company Nasdaq announced the world’s first Bitcoin ETF is set to launch on the Bermuda Stock Exchange. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020