There is lots to consider when you are considering a new boiler installation. This guide will take you through the process from start to finish. This is quite a difficult task describing in words what a Gas Safe engineer does every day. Not all of the points will be relevant to your particular installation but this guide will at least give you an idea of what to expect from your new boiler and what to expect from an installer coming to your house.
Things to consider:
– Your budget – grants, loans and other schemes
– Finding an installer – getting 3 quotes
– The current water pressure of your system
– Your current system – layout/design and condition, boiler siting
– Your hot water demand – bathrooms, ensuites etc
– Choosing a boiler
– Upgrading your pipework – gas and water pipework
– Powerflusing your system or flushing your system
– Commissioning your system
– Filling in the benchmark/notifying building control
– Advising the customer on how to get the best efficiency from their boiler
– Installers working to best practice
Your budget – grants, loans and other schemes
There are lots of schemes available depending on your circumstances. The new Boiler Scrappage Scheme is available to all households in England who have a G rated boiler in their home. It gives £400 towards the cost of a new boiler installation. There is also a scheme called the Warm Front Scheme which provides upto £3500 towards home heating and insulation improvements. To be eligible you must be on some sort of benefit or be a low income household. It is normally a bad idea to finance your boiler installation using a credit card or bank loan. Although there are cost benefits to be gained by having a new condensing boiler these will be eaten up by repaying the loan. If your current boiler is in good working order and you are worried about it breaking down then a British Gas homecare agreement is advisable at around £19 per month. An Npower agreement which offers less benefits is also available at around £7.99 per month.
Finding an installer – getting 3 quotes
You should aim for 3 quotes. This is more than adequate to get a good idea of what you want. Each individual engineer will give you different ideas on how best to go forward. They will also have their own favourite boilers and methods of working. It is a good idea to bounce ideas and questions around to ascertain whether the engineer is actually competent in the field he will be required to work within. Unfortunately there are lots of newly qualified plumbers and gas engineers in this industry and although they are perfectly safe and ‘passed off’ to work they may not be a) able to advise you of the most efficient method going forward, b) advise you completely wrongly or c) not actually have an answer. Sometimes it may be difficult to find someone you trust; after all, this will be a huge investment.
Often using the yellow pages can be a bad idea. So can using someone who posts leaflets through the door. The best and trusted method will always be by personal recommendation. Asking the engineer lots of questions can also give you some degree of confidence. Checking their Gas Safe registration should also be a priority. Unfortunately there are lots of illegal gas engineers operating and these people are putting lives at risk. Checking someones gas safe registration is very easy. Ask to see a Gas Safe registration card. Every engineer carries a card and it amazes me that 99.5% of customers do not ask for ID. Every engineer should be proud of their qualifications and love to show them off. Do not be shy and in future make a point of it.
Once you have got your 3 quotes you need to analyse what you are getting. Quotes should be broken down as much as possible. This will give you an idea of what exactly you are paying. I don’t understand how companies can justify listing a load of materials and specifications and then adding a figure. Costs should be fixed price costs whether you are a millionnaire or on a very low budget;)
It is best to get a written contract for your own benefit. If the company doesn’t offer one then you can easily draw one up. This will protect against faults that might develop later on after the system has been installed. If installed to best practice and following all manufacturers instructions then a central heating system will only rarely breakdown due to a manufacturer component fault. That is why respected installers offer a personal guarantee on all their work, this can be upto 5 years but 3 years is normal. This is alongside normal manufacturer guarantees which can be upto 5 years parts and labour. Other ways of finding an installer can be the internet however personal recommendation is always the best method.
The current water pressure of your system
Its very important to measure your mains water pressure to ascertain whether a combi will actually work. You might not have enough pressure for a combi system to work so this will need to be measured. A competent engineer will make sure that this is one of the first things he does. If you do have low pressure then your installation options will be limited. One example is when a mains pressure of 0.8bar from a customers property is measured. A certain Vaillant boiler which gives their full hot water output at just 0.5bar would be recommended by any competent engineer. This means that this boiler would be one of a very few boilers that could be considered for this customers property. It could have been a costly mistake not testing the mains water pressure and this is one reason why this should be done as standard. Having said all of the above, problems are very very rare. Your water company can advise on what your water pressure is likely to be if you are concerned. If for say you live on a very big hill you may have reasons for concern.
Your current system – layout/design and condition, boiler siting
Your current situation could have a large affect on cost of installation. Moving a boiler can add considerable expense as routing pipework can often be very tricky. Moving a boiler nearer the gas meter can sometimes cost the same as a straight swap. This is because the gas meter pipework upgrade will require less materials and less labour. Although some re-routing of water pipes will be required. If you need to upgrade from a system to a combi boiler this will be the costliest combi boiler installation. The system layout and pipework will need altering. The hot water cylinder and tanks in the loft will need removing. If you have a back boiler this will add time and expense on as well.
This can sometimes be difficult to remove as may cause the chimney to weaken. Your installer would be able to advise whether the removal of the back boiler is best left to a contracted a builder. If there is going to be new pipework in your property then it is desirable to have this under the floorboards and out of site. It makes for a better, cleaner job. Beware of companies wishing to take shortcuts or indeed charging more for lifting carpets and floorboards. There are strict rules governing where pipes are laid in joists. The size of notches can weaken joists and limits are set for this reason. It is simply unacceptable to hang pipes loose – even pipes containing water. Floorboards should be screwed back into place and not nailed as this will just cause the floorboard to loosen over time. Carpets and other fittings should be left as found. It is normally the customers responsibility to move furniture and other items that are in the way. This is due to responsibility issues. Common sense should always prevail of course.
If you have concrete floors then this can add a lot of expense as digging into the floor can be costly. The pipes will then need to be wrapped to ensure the concrete does not perforate them and this ultimately causes a leak under your floor. Fixing this leak will mean you having to re-dig the concrete and replacing the pipework. If done correctly and in accordance with manufacturers instructions its a very simple task. An engineer who is not in the know as regards to regulations can cause severe problems. Boiler siting can also cause problems sometimes. New condensing boilers may cause pluming issues and this can cross neighbour boundaries. Pluming kits are available and can eradicate this problem. Boiler flue terminal positions can also be a problem but these will be rare. The terminal needs to be a minimum 30cm away from window or door openings to stop products of combustion re-entering the property. If there is no other alternative than to put your boiler next to a window that is not in use then it will either need blocking up, ie cementing and bricking up or it will need screws put in so that it cannot open. Although the latter method is within the scope of the regulations it would be recommended better bricking it up.
Your hot water demand – bathrooms, ensuites etc
Even the lowest output of boiler (eg a 24KW) can, if installed correctly, cope with up to 14 radiators. When determining which boiler will suit your needs you should do some research on boiler hot water output capacities. Some smaller output boilers will deliver in the region of say 9 litres of water per minute at a certain temperature. Bigger models will produce 16 litres and more. This difference will be the difference between an OK shower or a very powerful shower. It will also affect how long a bath takes to fill up. You will also see an impact if you have two bathrooms ie a main bathroom and an ensuite bathroom. Larger sized boilers will just be able to cope with two showers used simultaneously. Smaller boilers will definitely not. You need to consider how this will affect you. Further advice can be given by your chosen installer.
Choosing a boiler
Choosing a boiler can be difficult. There are so many boilers out there that only an expert can guide you through your needs and match them up with a suitable boiler. The better makes of boiler are Viessmann, Worcester and Valliant although some of the models from these manufacturers have been horrendous. These will be the earlier models and any expert will know which models to steer well clear of. The Viessmann 100 model (earlier model) has teething problems but everything has been resolved now and this is one of the leading models on the market if not the best. Of course every engineer will have his/her own preferences but if you go to any forum in the UK and ask if the Viessmann boilers are any good I will guarantee you wont get an expert saying anything against them.
Boilers can typically range in price from £400 (B&Q) to £1400 (top Vaillant model) Although the £400 one will last for years and years if installed properly it is open to debate whether this boiler will last 10 years and even if it does, how much money you will have to spend on repairs? A great budget boiler is the Glowworm Betacom 24KW. For the price it represents very good value. It will depend on your budget and what you feel comfortable. It is always advisable to get quotes for different boilers and you can see for yourself prices differences. The price of the boiler will include all guarantees and if there are any issues with faulty manufacturer parts etc your installer will be responsible for this. Buying your own boiler and getting an installer to fit it can present many problems.
For example, is the boiler you are buying relatively new? It may look new, ie unopened packaging etc but it may have been sitting in a garage for 2 years. If a boiler is not installed within one year of its manufacture date it will void any warranty. Also, if any components are missing from your boiler then you will be ultimately responsible for lost time and expense. Most installers will not work this way for the above reasons as they simply do not know the history of the boiler and if a component fails after the boiler has been fitted it could cause significant problems.
Your installer will match your needs to a suitable boiler
Upgrading your pipework – gas and water pipework
Gas pipework used to be run in 15mm from the meter to the boiler. There are new rules which mean that pipework must be upgraded to 22mm as new condensing boilers are required to run on 22mm copper pipework. If the routing is simple then this can be a simple job. Sometimes carpets need to be lifted and pipework will go under floorboards. A lot of companies have fixed prices for pipework alterations and this includes fittings to give you an idea of price and labour charges.
All pipework should be clipped, there are regulations governing clipping distances for gas pipework. Pipework should always be secured and must be sleeved if passing through a cavity wall. One end must be sealed also. Your installer will bring you up to speed if you do have any concerns. If you are going from a system boiler to a combi boiler there will be lots of extra work including altering pipework and removing tanks and cylinders. This will mean more space in your airing cupboard and loft space.
Adding a MagnaClean
Some companies will not fit and guarantee their work if you do not agree to having a MagnaClean fitted. This additional work can be carried out for a very reasonable price as they would be already carrying out work in the property. More information can be found by clicking on the MagnaClean website. Unfortunately new condensing boiler have very weak heat exchangers and the MagnaClean will save them from getting damaged. This is why most companies insist on every customer having one installed.
Adding thermostatic radiator valves can significantly reduce your heating bills. It allows each radiator to be controlled individually. Why have the heat on in the whole house when you only need it in one? It is recommend not turning a valve completely off but setting it to 1. Adding TRV’s will in the long run save you lots of money and can be very cheap to install. Some companies will have offers when supplying and fitting these. Energy efficiency should be promoted whenever.
A room stat or a programmable room stat is a legal requirement. Your installer will advise what the best option for you is. A wireless stat will be more expensive but there is the advantage of no visible wiring.
Adding additional radiators
If you need to add additional radiators it is best to add these while having a new boiler installed. It will more than likely be cheaper. Some of your radiators may be undersized or very old and you should consider upgrading these.
Powerflusing your system or flushing your system
There is a huge difference between powerflushing your central heating system or just flushing your system. Powerflusing involves higher pressure and circulates fresh water and special chemicals around your system. It is normally needed on older systems as sludge and dirt builds up over years and years. This will mean that you either have cold spots or not very hot radiators. Having fresh water in a system means water can be heated up to the maximum pressure the boiler will allow and will mean hotter radiatiors which in turn means more efficiency. A powerflush is not a legal requirement when replacing your boiler but it is advisable. When a powerflush is taken with a boiler installation discounts can be given.
Normal cold and hot water flushing is a requirement when a boiler is installed. Cleanser and inhibitor is added. A hot and cold flush must be done in order to work to best practice. New boilers do not like any dirt in the system, heat exchangers can get very ‘clogged’ up and the cost of replacement can be very great.
Commissioning your system
Things that should be included in your installation and are considered best practise:
1. Flushing with Fernox or Sentinel product/filling with inhibitor from same
3. Balancing and commissioning according to manufacturers instructions, important so as not to invalidate warranty.
4. Decommisioning of old boiler, tanks and all waste materials associated with installation
5. Making good eg. new and old flue openings
6. Completion of Benchmark log book, important.
7. Notification of new boiler to Building Control
8. At least 3 years guaranteed on pipework and associated fitting (the boiler manufacturer will have their own guarantees.)
The above should be in writing to protect your expensive new purchase.
Filling in the benchmark/notifying building control
Filling in the benchmark and notifying building control is part of commissioning process and a legal requirement. Pressures and temperatures need to be taken to ensure the system is correctly configured. Not filling out the benchmark and not notifying building control may cause problems if you ever decide to sell your property as proof the boiler was installed by a competent person will be required.
Is President Erdogan so out of touch with what’s happening around him that he declared war against Bitcoin? Or is this a case of “lost in translation” and quotes out of context? An article titled “We are in a war against bitcoin,” says Turkey’s president” has been making the rounds over at Bitcoin-Twitter, receiving both mockery and rightful criticism. However, we noticed a crucial detail: the article doesn’t contain a direct quote from Erdogan. That’s suspect.
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Armed with an iron will and Google Translate, NewsBTC explored the issue and came to unexpected conclusions.
Let’s fall into the rabbit hole.
“When President Erdogan fired the central bank president in March, sending the Turkish lira plummeting against the dollar, Google searches for the term “bitcoin” soared across the country.”
Is It War Against Bitcoin Or War Against Cryptocurrencies?
The original article cited a mainstream and generally trusted source, an article in Turkish at Bloomberght titled “Erdogan: We have a separate war against cryptocurrencies.” Reportedly, the president held a Youth Meeting Program, so his audience for this was students from all over the country. They were discussing the Digital Turkish Lira, the country’s proposed CBDC, and one of the participants asked about their current views on cryptocurrencies:
“Erdoğan said that they do not have a problem of opening up to crypto money, on the contrary, they have a separate war and struggle against them.
Erdogan said, “We will not give them such a premium, nor will we. Because we will continue on our way with our money, which is our fundamental identity in this matter.”
He never even mentions a war against Bitcoin. Remember, this is a Google translation and some info might’ve been lost. However, the discrepancies are there. The President says they “do not have a problem” with crypto, but that “on the contrary, they have a separate war and struggle against them.” On the contrary to what? And do notice, it’s not a direct quote either. In the actual Erdogan quote, he says nothing about a war against Bitcoin.
We need more data. Let’s consult other sources.
Remember, “We, the people”, does not mean “We – the state”. Trying to fight a technology that empowers people is a sure way to be on the losing side of history.
A quick search leads us to The New Arab. They don’t quote the President directly, but their translation makes much clearer the intent of what he said:
“Erdogan claimed that the country “definitely” doesn’t have a problem with the spread of digital assets.
However, that Turkey would carry on with its own money, which he believes is part of the national identity.”
They don’t have a problem with the spread of digital assets because they’re preparing their CBDC, and their way to sell it is that money is “part of the national identity.” Got it. But, what about this war against Bitcoin thing?
A second search leads us to Newsbit, who seemingly quote a much more clear-headed President Erdogan directly:
“We have absolutely no intention of embracing cryptocurrencies,” the president replied, adding: “On the contrary, we have a war against them. We would never support cryptocurrencies. Because we continue with our own currency that has its own identity.”
Ok, now we know that Erdogan never said anything about a war against Bitcoin and always referred to cryptocurrencies. And that, in code, he was always talking about the Digital Turkish Lira. However, did he really say all that? That quote seems suspiciously close to the original Bloomberg quote, and that one wasn’t literal. If the President said everything that clearly, why wouldn’t Bloomberg quote him?
BTC price chart for 09/20/2021 on Exmo | Source: BTC/USD on TradingView.com
Time To Consult Primary Sources
Luckily for us, Newsbit linked to the Anadolu Agency, a Turkish state-run news agency. This is as close to primary sources as we’re going to get. A report on the whole event that only casually mentions cryptocurrencies at the end. Is the quote present in that report? What did President Erdogan say exactly? Well, according to the Anadolu Agency:
“Erdoğan said that they do not have a problem of opening up to crypto money, on the contrary, they have a separate war and struggle against them.
Erdogan said, “We will not give them such a premium, nor will we. Because we will continue on our way with our money, which is our fundamental identity in this matter.”
Related Reading | Turkey’s Economic Turmoil Shows Bitcoin Is a Better Bet Than Emerging Markets
That’s right! The same exact quote with the same exact wording that Bloomberg used at the beginning. So, Bloomberg literally copied and pasted their article. And Newsbit’s supposed quote is just a rewording of that phrase. We don’t know exactly what President Erdogan said, but at least his intention is clear: Yes to his CBDC. War on cryptocurrencies. And we know for sure he never said anything about a war against Bitcoin.
Cryptocurrencies and Bitcoin are not synonymous, journalists.
Polygon said MATIC token would soon be available on Bitfinex.
Since the market sell-off on September 7, MATIC has been attempting to regain its initial bullish momentum. Although lower highs outlined its positive trend, traders were unable to maintain prices.
Its recent rise from $1.20 may be beneficial if another higher high forms. Bulls would lose out if the market closed below the 23.6 percent Fibonacci threshold. According to CoinMarketCap, Polygon price is $1.19 USD with a 24-hour trading volume of $1,143,929,659 USD.
Closing over $1.50 would have solidified an uptrend, but that wasn’t the case yet. A pair of red candlesticks on the charts signalled the end of MATIC’s next upcycle.
While MATIC’s trend is perplexing, the signs have improved. On September 15, the RSI climbed above the half-line and briefly into the overbought zone, indicating a bullish rebound. Bulls held sway as the RSI found support around the mid-line.
A Positive Trend Maybe Anticipated
Twitter’s Altcoin Sherpa endorsed MATIC. Despite the token’s current consolidation, prediction is of significant increases in the following run. As per the tweet, it expects MATIC to hit $1.75 on the next leg up.
MATIC was trying to build an uptrend following a double top formation, but market watchers were sceptical. The bulls had an advantage in each case, and a win is not out of the question. A positive trend may be anticipated if MATIC rebounds back from the 38.2% Fibonacci level and reaches $1.50.
Polygon just tweeted that MATIC token would soon be available on Bitfinex. It’s one of the oldest and most reputed liquid exchanges.
Thanks to Bitfinex’s integration, users will access MATIC on all major exchanges, including Coinbase and Binance. Also, it can act as a catalyst to bring back the lost momentum for MATIC.
SUSHI has been holding well above a mid-term trend line.
Price has bounced off this trend line five times.
Sushi is a DeFi protocol that is totally driven by the community, presenting delectable interest for your held cryptocurrency resources.
Sushi has risen over 13 percent the last week. 400 MA is holding the price. It’s nearing its mid-term trend line. Compared to other coins in its class, SushiSwap has had a good week. Prices are up nearly 13 percent compared to the majority of coins being down 5 percent. SushiSwap is a decentralized app that provides staking, farming, swapping, and other services.
Decentralized finance continues to eat away at all centralized systems, increasing this platform’s popularity and user base. SUSHI has been holding well above a mid-term trend line since late July.
Can Bulls Hold at $11?
Price has bounced off this trend line five times, indicating it is a strong support area. SUSHI is currently approaching its last major support of $11.21 before reaching this mid-term trend. This trend is likely to bounce as it is right next to the 400MA.
SUSHI is located near major support areas, so that we may see a bounce off these levels. It is near the end of its 5-day wedge where it is currently trading.
Price will fall to the major support of $11.21 if this channel’s bottom trend is broken. If bulls gain strength now and SUSHI breaks above this wedge, the price will face minor resistance at $12.17.
After that, SUSHI will head to its major resistance zone, which must be fully broken to reach the given targets. The Stochastic RSI has just fully cleared back to the region of oversold. SUSHI may pump out of its wedge if strength regains its footing and bounces above 20.
The MACD recently broke 0 and is heading bearish. SUSHI will have a good chance of breaking its major resistance if the MAs cross bullish and bounce back above 0. According to CoinMarketCap, SushiSwap price today is $10.56 USD with a 24-hour trading volume of $520,991,484 USD.
IOHK, the developer behind the Cardano network, has announced a new solution for the network. Following the launch of smart contracts on the network, it has moved on to other projects to make sure that the network meets all of the needs of its developers. This has shone through in the latest release from the developer, called Hydra.
The Cardano hard fork brought to the forefront the possibilities for more development. Even as developers outside of the main Cardano project develop their own solutions and protocols that run on the network, IOHK is continuing its work in making the network more scalable and safe for its users. This is why the release of the Hydra Layer 2 solution is important to the ecosystem.
Layering Hydra On Top Of Existing Layer 1 Blockchain
Hydra is a Layer 2 blockchain solution built to run on top of the existing Layer 1 blockchain on Cardano. Hydra uses isomorphic state channels which basically will use the same ledger representation over and over again to provide uniform, off-chain ledger siblings. These are referred to as Heads by the developers. This puts things like NFTs, native assets, and Plutus scripting directly into a Hydra Head, which acts basically as an extension of the current existing system.
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This Layer 2 solution will provide the much-needed scalability that is required for networks with high use rates to maintain the required throughput for applications built on the blockchain. Hydra will work side by side with Cardano’s existing Layer 1 solution to provide a smooth user experience.
Why Hydra Is Important For Cardano
As things like decentralized finance (DeFi) make their way into the Cardano ecosystem, it is imperative for the network to provide suitable fee structures and security on the blockchain. This is where Hydra comes in. The Layer 2 protocol will not only help to scale the network but will also help to bring down fees to a sustainable level. This comes in the form of setting a fee structure that is both acceptable for the stake pool operator community, given that Cardano runs on proof-of-stake and fees that users deem acceptable.
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Hydra will help to set these fees to a low enough point that it is not a problem for its users, while also preventing the fees from being low enough to encourage Denial of Service (DoS) attacks.
Also, as the transaction history grows on the Cardano network, storage will become a problem over time. A Layer 2 solution like Hydra will mitigate against these problems in the future.
“Hydra is a layer 2 scalability solution that seeks to address all these concerns and aims to maximize throughput, minimize latency, incurring low to no costs, and greatly reducing storage requirements.”
More information on Hydra will be available at the Cardano Summit scheduled to happen on the 25th-26th of September 2021.
Featured image from Peoples Gazette, chart from TradingView.com
Celo is used for governance participation and related activities.
Celo’s main USP is its focus on smartphone users.
A bull market is easy to trade, but remember that the crypto market is unpredictable and highly volatile, it takes the stairs up and the elevator down. Celo was the day’s biggest gainer among the top 200 cryptocurrencies, rising 18.18 percent. Moreover, Velas came in second with 13.51 percent gains.
Celo is a blockchain ecosystem aimed at increasing smartphone cryptocurrency adoption. Furthermore, it hopes to introduce cryptocurrency to the billions of smartphone users worldwide, including those without bank accounts. With the network, you can create smart contracts and decentralized applications.
Main USP of Celo
It has two native tokens. Celo, not just limited to transaction fees, moreover also used for governance participation and similar activities. Furthermore, the platform will eventually host stablecoins, with the Celo Dollar (CUSD) being already in use.
A consortium of DeFi entities announced on Aug. 30 that it would invest up to $100 million in grants and incentives to raise global awareness of decentralized finance. The news benefited Celo the most, as the Celo platform will be the initiative’s primary infrastructure. Therefore, the coin’s price soared immediately, gaining some 170 percent within the next 24 hours.
Celo’s main USP is its focus on smartphone users. This is due to the fact that while the number of smartphone users is growing at an exponential rate, the number of cryptocurrency users is growing at a much slower rate. Cryptocurrency, well suited to areas where a large population lacks access to banking services but has a smartphone.
Celo aims to bridge the two technologies and harness the benefits of DeFi by supporting Dapps and smart contracts. The Celo blockchain, optimized for mobile and allows users to pay transaction fees in any currency. It uses proof-of-stake for security and has a complex election process for validators.
According to CoinMarketCap, Celo price today is $5.68 USD with a 24-hour trading volume of $476,293,339 USD.
Assets on the TRON blockchain have exceeded $50 billion.
BitTorrent has the biggest file-sharing protocol with over 100 million users.
TRON, a blockchain-based operating system, and BitTorrent have launched BitTorrent Chain (BTTC). It is TRON and BitTorrents’ first cross-chain venture, ushering in a new age!
In only three years, TRON has evolved into a network that processes over $10 billion in transactions averaging per day, rivalling Ethereum as a competitive Layer 1 blockchain technology. Assets on the TRON blockchain have exceeded $50 billion, while TRON decentralized financial programs have surpassed $10 billion. These accomplishments raised Justin Sun’s hopes for the TRON protocol’s future.
Meanwhile, BTTC is a Layer 2 solution incorporated into the TRON protocol. According to Justin Sun, the founder of TRON, layer 1 of the TRON protocol will concentrate on delivering safe and quick settlement services at reduced costs for financial institutions, crypto assets, and decentralized finance.
Asset Security For All BitTorrent Chain Users
The new BitTorrent Chain cross-chain bridge not only protects against assaults but also solves specific pressing requirements in this area. Also, it provides cheaper handling fees and quicker transactions by increasing primary chain throughput and TPS.
Meanwhile, developers may build apps using BitTorrent Chain faster and cheaper. Furthermore, BitTorrent Chain provides complete transparency of all nodes and custodial accounts and full transaction traceability. These features ensure asset security for all BitTorrent Chain users.
Currently, BitTorrent has the biggest file-sharing protocol with over 100 million users. The TRON Foundation bought the platform in 2018, but the project couldn’t begin until 2019. BTT Price closed the year 2020 at $0.0002. The price rose gradually afterwards. BitTorrent received good help from many organizations. The price skyrocketed from $0.0005 to $0.0129 in mid-February before plummeting down to $0.0005.
By the end of July, the cryptocurrency had recovered to $0.002849. August began with a positive price rise, hitting $0.004829. According to CoinMarketCap, BitTorrent price today is $0.003485 USD with a 24-hour trading volume of $441,144,572 USD.
BitTorrent is a promising cryptocurrency that allows investors to quickly enter the lucrative crypto industry. It will also keep improving its platform’s general performance, leading to a larger market for its crypto. Market analysts are confident that the upward trend of BTT would continue in 2021 and soon hit the moon.
Many layer 2 solutions are competing on being the most active in developments. Amid these scaling solutions in Optimism, and given its latest announcement, it will soon enable developers to launch DApps with just a single click of a button.
Optimism provides support for all the apps on the Ethereum ecosystem. It ensures that transaction fees are lower by keeping its data on the blockchain but running computation off-chain.
The team’s latest blog reveals that an upcoming upgrade will facilitate the launch of DApps on its layer. This means that every tool running on Ethereum will also run on Optimism.
Latest Upgrade To Provide Support For Ethereum Protocols
The disclosure by the Optimism team assures the developer’s community that the upgrade will help them to simplify the process of launching their decentralized apps. Also, this simplicity stems across features such as gas and traces. Developers targeting Geth now have the opportunity to launch without changing their codes.
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Optimism disclosed that it had overhauled the codes. As a result, it can now go beyond being compatible Ethereum Virtual Machine only to become an EVM equivalence by making its protocol efficient and lightweight.
One of the steps the team took to reduce the protocol’s load was to delete its custom compiler. It also deleted over 25,000 lines of codes as it upgraded.
According to the post, the team asserts that developing the “EVM-compliant rollup” is not very easy given that it aims to support the whole Ethereum stack. Moreover, to also implement the security features which EVM requires will also cost a lot of money. However, it is mandatory because every line of codes added to the system comes with possible vulnerabilities.
Optimism Pursuing Compatibility
As for now, the layer 2 scaling solution is now fully equivalent with EVM using Geth. Though it is working to become compatible with alternative node implementations such as Erigon and OpenEthereum using below one thousand lines of codes. The team disclosed that they hadn’t changed the security model of the protocol even with this release.
The reason behind the growth of Optimism is the move from Ethereum mainnet to other chains & layer 2 solutions compatible with EVM
The migration of capital from Ethereum to these other solutions was to reduce the high fees characterizing transactions carried out on its base layer.
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The information from Dune Analytics even reveals that another rollup network Arbitrum has a TVL of $2.62 billion, which is the largest ETH Bridge. This rival protocol went live three weeks ago, and it is already making waves.
But it is not the only protocol as Polygon ERC-20 Bridge emerged after Arbitrum and is now boasting $2.35 billion in TVL. After Polygon came, Avalanche Bridge and Fantom Anyswap Bridge and each now record $1.86 billion and $476 million, respectively.
Featured image from Forbes, chart from TradingView.com
Russia issues arrest warrants for 3 more associates linked with Finiko ponzi
All wanted associates suspected to be hiding in foreign nations
Suspects to be hiding majorly in Turkey and United Arab Emirates
The Finiko ponzi scam has created such a hustle and bustle upon the nation, such that Russia is constantly in pursuit to nab all responsible and accountable for it. In spite of this, just a few days back the Russian police arrested Ilgiz Shakirov, the vice president of Finiko, in Tatarstan.
Despite the arrest of the vice president of the fraudulent scheme, the Russian government is constantly in pursuit of all the associates in relation and responsibility.
Accordingly, the jurisdiction of Tatarstan has officially granted arrest warrants for three prime members and associates of Finiko. Also, previously the Supreme court of Tatarstan has denied the appeals against the arrest warrant of these three associates.
The Three Wanted
Furthermore, the three associates who are now wanted are, Marat Sabirov, Edward Sabirov and Zygmunt Zygmuntovich. These three are said to be close associates and in direct link with the mastermind criminal founder of Finiko, Kiril Doronin. Also, it’s well known that Kiril Doronin was arrested in the month of July, 2021.
Moreover, the three convicts are said to have fled to foreign nations, out of Russia. In addition, upon further investigations, the three convicts are suspected to be at present in the United Arab Emirates, Turkey and Georgia respectively.
However, the Russian police are extremely keen on hunting down and arresting all the three. Also, at present their primary target is said to be Zygmunt Zygmuntovich. This is because he’s the right hand and closest associate to Doronin.
Crypto Scam History of Russia
As each day passes, the value of money being scammed upon the crypto industry is obviously on the rise. And so, Russia proves to be one of the topping nations in this list.
Accordingly, recent data shows that this Finiko ponzi is one of the most profuse and large crypto scams in Russia.
Besides, apart from Russians, many other nationals have also invested and lost their assets upon the Finiko ponzi scam. This includes investors from countries neighboring and overseas, like Kyrgyzstan, Kazakhstan, Germany, Hungary , Austria and the U.S.
Over the years Solana (SOL) has been doing a great job in developing its ecosystem. Moreover, Solana offers a secure, fast, and censorship-resistant blockchain enhancing an open ecosystem needed for global adoption. For this reason, investors are curious to grab Solana tokens. In addition, Solana is one of the widely chosen platforms developing Decentralized Finance (DeFi), Web3, and blockchain gaming which can process about 50,000 transactions per second.
What is Solana?
Solana (SOL) is a digital asset token based on blockchain technology. The platform founded in the year 2017. Solana seeks to offer solutions to the traditional issues which faced by Bitcoin and Ethereum blockchain.
Moreover, the Solana network utilizes proof of history consensus. Notably, this technology enhances the network to develop records. These records can used to track and prove historical events.
Solana tech team, the crew is backed with experienced professionals from top organizations like Apple, Qualcomm, Intel, Google, Microsoft, Twitter, Dropbox, and more. With this, we can say that Solana is really competitive in developing groundbreaking technologies.
Solana Market Status
Solana (SOL) is one of the cryptocurrencies that took the crypto market by storm when it smashed the ATH price of $214.96. Its network’s native token is SOL. Specifically, this crypto has seen great moves since the early days of the year. In fact, SOL successfully nailed a huge growth rate of over +8,500% in the past 12 months.
Currently, SOL holds the 7th position on CoinMarketCap. The SOL price is trading at $162.67 with a 24-hour trading volume of $4,592,073,834, at the time of writing. SOL can trade on exchanges such as Binance, Coinbase, Huobi Global, and many more.
Solana (SOL) is one of the digital assets that took the crypto market by storm. Now let us deep dive into the Solana ecosystem.
Serum developed a decentralized exchange with an on-chain order book. This order book developed using Solana, a fast and cheap blockchain. This new paradigm offered a huge chance to address DeFi’s significant problems.
It creates an AMM that could utilize the current Serum order flow and provide liquidity to the rest of the ecosystem.
It is an AMM and liquidity provider for the Serum Decentralized Exchange based on the Solana blockchain (DEX). In addition to providing on-chain liquidity to a central limit orderbook, Raydium is unique among AMMs.
As one of Solana’s first general-purpose AMMs, It allows users to exchange assets, offer liquidity, and earn interest. Orca is Solana’s easiest DEX. It aims to make DeFi accessible to everyone with simple and efficient financial solutions.
It’s a mineable masternode coin—a fork of Dash. The currency adds anonymity, security, and speed to the network. Using the X11 algorithm, Saros network launches a successful and helpful network for the crypto community.
A reliable cross-chain stablecoin on Solana, Saber. To keep liquidity providers capital-efficient, Saber allows minimal slippage trading at significant volumes. Recently, Solana-based Saber raised $7.7M to expand the team and tokens.
Mercurial vaults provide steady minimum slippage swaps while boosting LP profitability via dynamic fees and allocation of capital.
SenSwap is a Open Liquidity Protocol for Token Swap on Solana aims to eliminate technological obstacles and make AMM more accessible. The pool is no longer divided into two tokens.
They may choose the price ranges where their liquidity is active. Larger orders may executed at a better price by establishing the depth of liquidity around the anticipated market price.
HydraSwap is an intelligent, multi-module, cross-chain DEX based on the speedy Solana chain. An HMM core, cross-chain technology, and multi-module solid components support it.
Serum: The unprecedented speed and cheap transaction costs are brought to decentralized finance via DEX. Serum is Solana-based and is completely permissionless.
Dexlab has a token minting lab, a launchpad, and a dedicated DEX for all listings, making it easier to launch on Solana. Recently, the price of Dexlab surged, showing a bullish trend.
It offers a new perspective on Decentralized Exchanges inside the Solana Ecosystem. SolAPE Decentralized Exchange (DEX) allows new projects inside Solana to list their tokens and trade the biggest market cap coins.
Open Serum: A Solana-based Project Serum DEX. Open Serum is a decentralized exchange with the speed and ease of DeFi while being transparent.
Samoyedcoin ($SAMO) is Solana’s community-owned meme coin. It seeks to expand Solana’s ecosystem by appealing to users outside its core of high-tech currencies. A fun coin to trade, Solana’s blockchain offers all the benefits (scalability, speed, cheap costs).
The slope is a Solana-based decentralized exchange. Slope Dex is a decentralized automated full limit orderbook, the first Serum-based smartphone app. Built for, and hosted by, the community.
Aldrin’s goal is to make DeFi simple and create powerful tools for all traders. Aldrin is now Cryptocurrencies.Ai (CCAI) (RIN). Professionals will appreciate the live decentralized exchange and future centralized exchange since it offers pros that utilize unique capabilities.
3. Solana Lending/Borrowing
The existence of a middleman is one of the main problems with centralized institutions. Aside from needless verification, these numbers frequently cost both parties additional money. DeFi steps in here. Decentralized lending systems provide loans directly to companies or individuals.
It is a DeFi prime brokerage service powered by Serum’s on-chain infrastructure for the future. Oxygen is built around Pools or baskets of assets that function together.
Bridging assets from ETH DeFi to Solana imposes an opportunity cost for consumers. The Parrot protocol seeks to utilize collaterals to create synthetic assets as debts.
Solend is a decentralized borrowing and lending system based on the Solana blockchain. DeFi can replace the global financial system; however, specific problems exist.
Port Finance is a lending protocol that seeks to offer variable rate, fixed-rate, and interest rate swaps. The main contributors are a tight-knit group of engineers from Google, Facebook, and Microsoft who worked on Serum and Solana.
Jet is a decentralized borrowing and lending system based on Solana. To add, Jet will provide customers with faster and cheaper transactions.
Based on the Solana blockchain, the Acumen protocol allows open financial apps to determine interest rates algorithmically.
Larix is the ultimate loan gateway. The well-constructed interest rate mechanism rewards both borrowers and lenders with Larix tokens.
Ratio Finance allows Solana users to earn interest, take out collateralized loans, and maximize their financial potential, all through a user-friendly interface.
Apricot Finance wants to capitalize on Solana ecology development by creating a unique initiative to become the DeFi industry standard by acting as a decentralized lending system.
A fast, secure, and censorship-resistant blockchain, Solana provides access to the open infrastructure needed for the worldwide adoption of ZIP. The Zero Interest Protocol is built on Liquity’s excellent concept for zero-interest loans.
Everlend is a decentralized cross-chain lending system based on Solana. Users may either lend money or give it. They will no longer need to worry about their portfolio, best bargains, and different calculations/scenarios.
The Mango Markets DEX provides spot and futures trading on-chain. It is also a lending platform, drawing liquidity from its pools and Serum, another Solana-based exchange.
It is a decentralized system for creating and exchanging synthetic assets. Synthetify is a Solana blockchain-based platform that allows for the production and burning of synthetic assets.
In addition to trading on over 130 cryptocurrency exchanges, Hedgehog allows users to monitor their assets and learn about cryptocurrency. It replaces spreadsheets with real-time data from over 130 exchanges and 1000+ coins.
Drift wants to put centralized exchanges’ trader-centric experience on-chain. An expert team from DeFi and traditional finance is working together to make this a reality.
You may create, manage, and trade your portfolio tokens using Sypool’s synthetic asset management system. This is another invention that brought money on-chain.
The tokenized eco-system includes digital assets AG. It will deploy its tokenized stock system on the Solana blockchain.
FABRIC uses the Solana Ecosystem and the Serum DEX GUI to trade FAB. To use any synthetic asset, it must be backed by FABRIC tokens (FAB).
Plutos Network, a multi-chain synthetic investment hub built on multi-chain architecture. With Solana, it will be easier to scale its Synthetic Issuance and trading platform.
It is the first under-collateralized platform based on DeFi choices allowing users to hedge risk against market movements. Zeta is the first under-collateralized platform based on DeFi choices allowing users to hedge risk against market movements.
PsyOptions is a system based on the Solana blockchain in an American style. Flexibility and composability are the concepts that drive the design and development of the core protocol.
UNK Finance is a market for on-chain options on Solana. We may establish call contracts backed by Bitcoin and Ethereum and stacked by providers of liquidity.
01 is a decentralized derivative that helps create genuinely autonomous contracts, immediate liquidity, millisecond transaction speeds, and cheap costs across DeFi.
SolFarm is Solana’s first yield aggregation platform with self-assembly vault methods. The Dapp is intended to use Solana’s low-cost, high-efficiency blockchain, enabling vault techniques to compound regularly.
Sunny is a Solana-driven composable DeFi yield aggregator. The Sunny Protocol has been built as a fundamental component with composability, allowing other apps and protocols to make it easier.
SolYard is a new Solana Ecosystem Yield Farming Aggregator. SolYard offers methods to improve your Solana crypto assets.
Francium is a unique Solana-built leveraged yield aggregator. It provides consumers with high APY via various community strategies.
OpenOcean is the first complete aggregator of DeFi & CeFi. It finds the best price and lowest slip for traders using an advanced routing system that is thoroughly optimized.
1Sol is a decentralized Solana DEX cross-chain aggregator that enables DeFi’s most smooth, efficient, and secured activities. With DeFi’s fast-growing infrastructures, highly demanded aggregators, and future cross-chain transactions, 1Sol created in Solana.
DAGG Trade offers the finest protocol for the DEX aggregator, built for the Solana blockchain. These are Solana liquidity aggregators, which aggregate the exchange rates of several DEX platforms (Serum, Orca, and forthcoming Sushi).
Apollo seeks to combine the desire to make Terra’s yield stronger. Initial UI images indicate that vaults will be available with UST and ANC, MIR, and mAssets, but it appears evident that this is just the start of the Apollo team.
7. Asset Management
Solrise Finance is a Solana-built decentralized and non-custodial asset management platform. It enables anyone to establish or invest in a $20 fund.
Symmetry facilitates the creation and investment of bespoke crypto indexes. Users may build their index using Symmetry or buy an index produced by someone else.
Step Finance is Solana’s front page. Visualize, analyze, execute and combine transactions in one location across all Solana contracts.
Stacked Crypto is the investing platform for cryptocurrencies. Manage your assets and invest in pre-developed portfolios and strategies of top hedge funds and traders immediately.
It offers customers access from a single platform to the finest investment possibilities in the Solana ecosystem. Laguna Finance develop, combine and capitalize on DeFi’s unique composability to provide the consumers the greatest yield possibilities.
AcceleRaytor Is a Raydium effort to expand the Solana Ecosystem. It will allow Solana initiatives to obtain funding and initial liquidity in a decentralized and interoperable way. Initially, each AcceleRaytor launch project will include two kinds of pools: Community Pools and RAY Pools.
Solstarter is Solana’s initial IDO platform. It enables launchpad projects to increase liquidity and in a decentralized manner fairly. Solstarter ensures fair distribution and is entirely decentralized. Solstarter determines guaranteed allocations for each pool member depending on tiers.
In addition to the launchpad, the platform features DEX UI and staking. Solanium adds inline wallet administration to any linked wallet.
The platform allows users to see token balances, send and receive tokens, and manage token accounts. xSLIM may be obtained by staking SLIM tokens.
It is Solana’s first Multichain IDO platform. It provides a decentralized platform for initiatives to raise funds. Solpad is based on Solana, but its reach extends to other blockchain ecosystems.
Incubated projects on SolPad will automatically list on SolSwap. It was designed to link Solana and other blockchains.
Solster Finance is a decentralized financial ecosystem that assists investors. A platform with guaranteed participant token distribution. It is an ecosystem to help diversify investors’ decentralized funds (DeFi).
HAPI’s Boca Chica is a cutting-edge IDO platform on Solana. The HAPI team recognizes the value of Solana’s blockchain and its potential to become the most important blockchain network.
Because of the close relationship with Solana, Boca Chica token may only be purchased through the Solana Staking Reward system.
OxBull is a new Blockchain startup incubator based on Binance Smart Chain. Moreover, OxBull wants to offer the advantages of blockchain to the broader community by facilitating access to blockchain enthusiasts.
With the Solcubator community’s help, projects may raise funds in a safe and decentralized manner while investors can navigate the chaotic terrain to enjoy the rewards of a developing ecosystem.
Bonfida connects Serum, Solana, and the user. With Solana Data analytics, it is the flagship Serum GUI. Bonfida API has witnessed a 25% increase in queries from major market makers in the last week.
It aspires to be a single data truth source in the cryptocurrency sector. Bonfida additionally handles a range of data aggregation and visualization.
Non-Fungible Token is the recent trend in the digital world and has set a great impression for the gaming industry. This impeccable technology has the potential to strike the attention of internet users globally. It is capable of converting video gaming into NFTs using the concept of metaverse.
Significantly, Solana has many projects on the list to build virtual gaming experience for the users. One such project is ATLAS which is paving the way for the future generation of gaming platforms. The world is about to witness the evolution of technology into the gaming industry in the near future.
Star Atlas is a blockchain-based, space-themed video game which is built in the Solana blockchain. It is the next generation gaming metaverse where users can play, create and learn with other players globally. Moreover, Players on the Star Atlas metaverse can trade, obtain and create NFTs .
ATLAS is set to be the platform’s native token which will be empowering the economy of the entire metaverse. Whereas, POLIS is the governance token in the Star Atlas metaverse. Thus it will allow the POLIS holders to influence the decision-making of the development team.
Another project from Solana is OpenEra. OpenEra is a MMORPG which is built on the Solana blockchain and powered by Serum. The story behind OpenEra is to create a virtual place where players live, create and explore. Aurory is another gaming project which is powered by Solana and Serum. This platform operates with the concept of “Play-to-Earn”. Aurory allows players to earn while they play and the platform wants the gamers to know the blockchain uses in entertaining and educating perspect.
Next project is DeFi Land which is a web-game invented to gamify decentralized finance (DeFi). The major goal is to interact with DeFi via gaming experience. COPE is next on the list which is minted on the Solana blockchain and most of its supply will be available in Solana. Then followed by All Art created by the team VR-All-Art, which is the protocol that provides constant liquidity of NFTs. All Art allows NFTs to be traded indefinitely, just like other crypto tokens, with constant liquidity provided by a new type of AMM liquidity pool.
Then comes Metaplex on the list which is built on Solana Blockchain. Besides it is for creating and minting NFTs in a way via wallets and apps. The other project Degenerate Ape academy is a collection of NFTs which is running on the Solana blockchain network. Degenerate Ape platform allows participants to exchange digital artwork collectibles. Through the sale of Degenerate Ape, Solana entered the million-dollar NFT club.
Significantly, Solana is a part of the growing NFT ecosystem in the market. One such NFT is Kaiju Cards which is a NFT game built on the Solana network. Kaiju Cards provides dynamic NFTs and an environment for players to use it. The platform marches towards the growing next generation NFT technology related to games.
As a matter of fact, there are numerous NFT marketplace where users can trade, buy and sell NFTs. Likewise, Solana’s Sollectify is a creator-centric NFT marketplace where users can buy, sell, and trade NFTs in the platform. Another NFT marketplace is Solanart which is the first NFT marketplace on Solana. Solanart platform allows users to access different digital collectibles and explore them. Then comes Solsea which is an open NFT marketplace on Solana. Solsea enables creators to choose and embed licenses in NFTs.
11. Social Platforms
The first application on the list is MAPS, it is the world’s leading offline navigation app with 100 million users globally. Maps are a great companion for travellers as well as it is a wallet where users can exchange money with no hidden fees.
The next platform is Media Network which is a new protocol that avoids the centralized approach of traditional CDN providers. Media Network is a peer-to-peer content delivery network that is a highly scalable and community-governed CDN. Then comes the music streaming platform “AUDIUS”. It is one of the well-known platforms in the crypto market from the Solana foundation. Audius is a high-quality music streaming application where content creators can upload their tracks and share the music globally.
Followed by Only1, which is a NFT-powered social engagement platform developed on Solana. Only1 platform enables users to buy and sell NFTs from any favourite creators. Moreover, the next app on the list is GRAPE protocol. It is a protocol for creating token-based membership communities on Solana. $GRAPE uses the power of Solana to create, reward, and secure online communities.
The most comfortable platform for messaging is Satellite.im. It is a messaging app with end-to-end encryption built on Solana and IPFS. Satellite.im uses serverless technology without sacrificing quality. Followed by an online dating app ‘SolDate’ which is also built on Solana. SolDate is a secure platform which enables users to search for a partner and its native token is $DATE. $DATE will enable users to explore blockchain in a simple and fun way.
However, Solana has many platforms which ensures security and protection. It is created with a mission of providing easy access to their users and reaching millions of users globally. Solana has developed applications for all kinds of usage digitally.
Oracles are a major component of DeFi infrastructure that allows smart contracts to mingle with the real world. Many solutions have focused on financial and time series data instead of generalizing to all types of data. Solana blockchain contains two oracle Pyth networks and Switchboard
The Pyth Network is a decentralized data oracle that launched on the Solana blockchain. It is an oracle that builds a bridge between a blockchain and real-world data. The Pyth network will support DeFi projects on the chain. Pyth will gather data from conventional markets as well as for cryptocurrencies and crypto assets, and aggregating the data on the blockchain which will utilized for other crypto projects such as smart contracts.
Accordingly, the data provided by Pyth will be more accurate. Therefore, the price will be updated on Solana every 400 milliseconds, this very quicker compared with Ethereum oracle which updates prices on the network only every 10-15 seconds.
More so, the Pyth network will connect high-fidelity, time-sensitive, real-world data with deFi applications, and this will play a major role in the industry’s evolution.
Switchboard is building a platform that curates the oracle ecosystem on Solana. The main goal of Switchboard is to provide censorship-resistant access to all forms of data on-chain. Switchboard creates a market of curators incentivized to organize different and unique off-chain data sources and publishers to decentralize quantitative data feeds.
Switchboard provides a much broader set of data providers and customers to choose what they would like to see on-chain. Solana will become one of the quality destinations for developers building high performance
Solana has disclosed cross-chain bridges such as Allbridge, Swim protocol, Wormhole, Synapse protocol that will allow users to transfer assets easily.
Allbridge is a decentralized, modular, and expanding token bridge with on-chain consensus. It is the easiest and modern way to transfer assets between networks. The most important aim of Allbridge is to expand the blockchain world and provide a tool to freely move assets between networks.
Allbridge is going to bridge the Impossible Finance (IF) token from Binance Smart Chain (BSC) to Solana, adding it to the borderless list of the supported token.
Swim protocol neglects the need for wrapped assets on one chain to a native asset on any other supported chain. This is done combining the ideas produced by existing stable asset AMMs with Wormhole’s bridging technology.
The Swim protocol aims to create a fast, flawless experience that links between smart contract chains, also creating a network of native asset pools on multiple chains through which users can swap flawlessly from one chain to another without using wrapped assets.
Solana introduced Wormhole, a secure and decentralized bridge that connects Ethereum to Solana. Wormhole allows surviving projects to move tokenized assets flawlessly and trustlessly across blockchains to benefit from Solana’s high speed and low cost. A wormhole opens a quicker way for non-native belongings to enter Solana’s decentralized finance (DeFi) ecosystem.
Synapse enables users to flawlessly bridge assets across the most popular chains. It is a cross-chain layer protocol powering interoperability between blockchains. Cross-chain swap can be done in a bridge single transaction, with any chain connected by the Synapse in less than 3 minutes. Synapse builds the nervous system for all interchain activities across blockchains.
14. Staking Pool
A staking pool enables multiple stakeholders to combine their computer resources to improve their chances for reward. In other words, they join forces in the testing and validation of new blocks, so they are more likely to earn a reward for the block.
Marinade.finance is a liquid staking protocol which is developed on Solana. Marinade provides users with the easiest way to stake their tokens. Users can stake SOL tokens using automated staking strategies without lockup period. Thus the platform allows users to enjoy automatic compounded rewards. Consequently, the other staking pool is Socean.
Socean is a 100% transparent, algorithmic, and decentralized stake pool for Solana blockchain. Moreover, the Socean stake pool offers SOL holders the opportunity to participate in DeFi and earn rewards.
Socean is fully transparent is developed with a real-time dashboard. Users can monitor where their stake $SOL is going or can identify with whom they stake. Furthermore, this staking pool is fair and decentralized with a strong staking strategy.
15. Wallet Extension
The primary use of crypto wallet is friendly-access. It is an application that stores our tokens and users can send or receive and can track ownership of cryptocurrencies. The wallet has navigation where users have easy access to trade or store digital-assets. Wallets offer different solutions and approaches to transact or interact with the tokens. It works in an encrypted method where users can use a wallet to transact or receive addresses in a secured way. Solana supports a wide range of wallets, allowing you to strike the balance of safety and reliability.
Wallet extensions offer users easy access to the wallet via browser with wallet information.
Coin98 is a non-custodial crypto wallet which supports the Solana Network’s SOL and SPL tokens. Moreover, the wallet offers payment gateway features to its users. Significantly, the next wallet on the list is Phantom.
It is a friendly digital wallet developed on Solana for DeFi and NFT. This platform offers easy access for users where they can store, receive, collect, send, and swap tokens on Solana Blockchain. Phantom enables users to interact with blockchain-applications directly from web browsers. Moreover, it is a non-custodial wallet and the platform focuses on sending and receiving NFT collectibles in a secure way.
Sollet, a web-based crypto wallet that allows users to manage digital assets on the Solana blockchain in a secure manner. It is an open-source wallet for users and developers where they can send and receive SOL and SPL tokens. The other multi-chain wallet on the Solana blockchain is Math wallet. Even more, it is a multi-chain and cross-chain assets hub that supports more than 60 blockchains.
Math wallet offers Math DApp Store, MathStaking, Math Custody, Math NFT, Math Chain, Math Hub, Math DEX, Math ID, and Math Pay. Furthermore, this app is available in both Apple Store and Android Play Store, so users can download the app to interact with the Solana network.
Solong wallet is a one place wallet where users can manage all your Solana assets. Thus users can send, receive and interact with SOL tokens. However, wallets are a key component to manage collection of tokens in a user-friendly way.
Sonar is employed to trace Yield Farming and Liquidity Pool performance on the Solana platform. In addition, Sonar dashboard will survey the Solana blockchain and shows collection statistics from the Serum or Orca or Radiyum pools and Radiyum farms.
A cross-chain DeFi dashboard, Apeboard, is used to observe the portfolio balances over DeFi protocols. Moreso, Apeboard also supports various protocols on Solana.
Serum Pulse is the top analytics platform and inbuilt dashboard for market and staking the data for Serum and Solana platform
SolanaProject is a weighted index that traces the performance of decentralized financial (DeFi) assets over the market. It will display all projects that build on Solana
Solscan is the user-friendly scanning tool that is available on Solana Ecosystem. More so, Solscan is utilized to look for the entire transaction history which includes the transfer of tokens and the performance of the contract.
Synchrony brings the best tools together and performs the traditional and decentralized finance space into a solution. Moreover, Solana is the most scalable blockchain so synchrony builds on Solana.
A blockchain software company, Neon Labs is utilized to make it easier to port Ethereum applications to the Solana blockchain. Therefore the Ethereum developers will soon be able to deploy their applications to Solana.
LIQ Protocol is a decentralized liquidation engine that built for Serum decentralized exchange (DEX) margin markets on the Solana platform. It will enable liquidity through its engine to manage liquidation for Solana-based borrowing projects.
Solanatip is a Google extension that utilizes sollet.io and encourages users to provide a small number of cryptocurrencies to tweets. Furthermore, it will enable users to give and receive tips on Twitter, all the credits will go to the Solana blockchain and its Name Service
Metasol, a meta transaction protocol that encourages users to transfer Solana Program Library (SPL) tokens without holding Solana (SOL) on Solana blockchain.`
P2P Validator offers secure staking, so it will allow the investors to compound their cryptocurrency investment.
QuickNode is a Web3 developer platform that will guide the user to build and operate blockchain-powered applications (dApps).
Bitquery is a collection of software products that store, parse and index blockchain data in a unified way. Bitquery offers APIs, Dashboard Analytics, Explorers, and widgets.
Blockchain Service Provider GenesysGO provides robust and secure infrastructure, to facilitate blockchain developers and operators the performance they need
A decentralized Virtual Private Network (VPN) that builds on Solana is Boring Protocol. It provides an economic incentive for node providers with transparent programs to secure network users
A cryptocurrency platform that provides perpetual, time-based digital derivatives markets is Hxro. More so, it provides an easy and simple way to interact with the crypto market and traders get an alternate way to express a view on price, hedge risk, and trade digital assets.
Burnt Finance is developed to prove that physical artwork values can channeled into an NFT. Even more, it is a decentralized auction protocol powers the Solana blockchain but created on the injective protocol
Steaking makes staking simple, easy, and secure. It allows users to stake Solana more easily and simply.
Solstake makes staking on Solana easier. Users can stake SOL, manage accounts and earn rewards just in a single app.
ROPE is a next-generation, full-scale decentralized ecosystem that brings the famous and well-known market volatility index to the crypto market.
A decentralized privacy preservation protocol built for the Solana blockchain is Lava Cash. It was the first privacy-preserving smart contract on Solana.
The solar system is the one-stop platform for discovering projects, maintaining track of news, and buying merchandise on the Solana Ecosystem.
Solana. bet is a decentralized sportsbook settlement on Solana
Fluidity allows assets based on Solana to convert into a Fluid version. It is a Solana grant recipient and it will launch on Solana and Integrate Defi protocols that are based on Solana.
The first decentralized pooled giveaway platform built on Solana is SolLotto. It plans to operate several pooled giveaways compatible with several SPL tokens, providing the convenience of entry to members of the Solana network.
Solana has a fantastic ecosystem which indicates the growth of the platform. Solana is normally called the ‘Ethereum Killer’.
Moreover, adoption is one of the big challenges for Solana’s long-term prospects. Furthermore, the growing adoption of the crypto industry continues to increase, there will be enough space for digital assets such as Solana, Ethereum, and others.
Without consensus on its implications, the Evergrande potential default has impacted the traditional market, and Bitcoin. The first cryptocurrency by market cap started the week with a correction with risk to trend further down.
At the time of writing, Bitcoin trades at $43,462 with a 9.1% and 6% loss in the daily and weekly chart, respectively.
Bitcoin Holds On To Critical Support
Pseudonym analyst IncomeSharks claimed that Bitcoin could be at the beginning of a correction. The analyst looked at BTC’s On Balance Volume (OBV), a metric used to measure momentum.
Related Reading | Bitcoin Price Sinks 10% As Market Braces For Macro Storm Ahead
As seen below, Bitcoin has been moving sideways on its OBV since it moved to the upside at the end of July. This coincides with BTC breaking out from its former range, and its current price action.
If Bitcoin break to the downside on its OBV, bulls could face hurdles on their attempts to reclaim previous highs.
In the meantime, the $40,500 to $43,000 will operate as critical support, according to analyst Daan Crypto Trades with $50,000 still operating as major resistance. This analyst said:
BTC I’m seeing $40.5-50K approximately as a big range we’re in. We initially got rejected by the upper resistance area and now came back down. The entire 40.5-43.5K area should offer good support and I doubt we’d fall below that without much of a fight.
Bitcoin Indicators Favor The Bulls
Despite the current price action and the macro-economic elements that suggest more downside, Bitcoin seem to show strength on some of its fundamentals. Part of the reason for the crash, according to a Glassnode report, is some BTC holders taking profit on upper levels.
Since late July, the market has consistently realised net profits on the order of around $1B per day as prices rallied from $31k to over $52k. This suggests a relatively meaningful bid has supported the market on the way up.
An important metric that has favored the bulls is the amount of Bitcoin sitting on exchange platforms. Standing at a 13% of BTC total supply, a new multi-year low according to Glassnode, the metric has continued to trend downwards.
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As seen below, the amount of BTC on exchanges returned to levels last seen in February 2018. This was followed by a period of consolidation before Bitcoin gather enough strength to score a fresh all-time high.