Category: Blockchain

All the latest Crypto news, guides, predictions.

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Blockchain

How to Buy NFTs on Coinbase NFT Marketplace

How to Buy NFTs on Coinbase NFT Marketplace

Coinbase has joined the exclusive club of CEXs that offer its users NFTs. The move comes on the heels of rapid NFT market growth due to high demand. Although we are in a bear market right now, some would say this is also the best time to pick up some amazing NFTs for cheap.

Coinbase followed the footsteps of Binance and other exchanges after realizing the benefits of having a built-in NFT marketplace. This guide will share everything you need to know about buying NFTs on Coinbase.

How to Buy NFTs on Coinbase

The Coinbase marketplace is hosted at NFT.Coinbase.com. It should be noted that the NFT marketplace is currently in Beta so some features are missing while others are a little buggy. However, overall Coinbase NFT marketplace is smooth and offers some amazing content.

The homepage shows a collection of NFTs currently being promoted and featured on the website.

At the time of this writing, we have the Bill Murray NFT collection showcased on the homepage. Leave the homepage to explore more NFTs in the shop section. There are close to 70K items available in the Coinbase Marketplace.

You don’t need a Coinbase account to grab non-fungible tokens from its marketplace. You can connect Metamask, and you’re good to go.

Your Coinbase or crypto wallet must have an Ethereum balance to purchase NFTs. In the future, Coinbase is expected to support Cardano and Solana NFTs as well. For the time being, only Ether can be used to buy, sell, and pay gas fees for NFTs.

Click on the NFT you wish to buy to visit its page, where you will see the option of buying it. The NFTs you buy are stored in your wallet.

To read more on your favorite Blockchains, visit our Crypto content hub.

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Blockchain

How to Use SolScan, Best Solana Explorer Alternative

Before investing and even putting in your money, it is always best to keep an eye on on-chain metrics. Almost all Blockchains have official and unofficial explorers to help its users dive deep into on-chain metrics. Solana is no different as it uses its own Solana Explorer, but for those who prefer a more user-friendly experience and more comprehensive data, SolScan is the way to go.

SolScan is the best alternative to Solana Explorer for research information about on-chain data. The unofficial explorer makes it possible for the user to view transaction data and everything else on the Blockchain.

How to Use SolScan

Creating an account is not required, but it is highly recommended if you are looking to keep track of your transactions. The process becomes much easier with enhanced functionality.

SolScan allows you to keep track of Solana supply and how many currently staked coins, among so many other things. You can track your own and any other public transaction on the Solana Network.

To track transactions, you need to enter the Transaction Signature in the search function. To track all public transactions, you can simply go to the homepage to see the Signatures, amount, and how long ago the transaction was processed.

Clicking on a particular signature will give you all the information you need regarding that transaction. Here’s a transaction; for example, you can click here to see a bunch of information about it under the Overview section.

Other sections on the page include SOL Balance Change and Token Balance Change. Where you can see the current and previous balance of the wallet, among other information.

If you want information regarding a particular token, enter the Token address in the search bar. Token addresses are found on the official websites or the Coin Marketcap pages.

Want to know more about Crypto and Blockchain tech? Visit our Blockchain content hub.

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Blockchain

How Does Binance BNB Auto Burn Work

Binance is the biggest crypto exchange in the world, and a few years ago, it brought its native crypto ecosystem to the market via BNB coin. Since its release, BNB has evolved into a beast thanks to the backing of Binance and the shift from ERC-20 to BNB Chain.

As I mentioned, at the heart of everything is the BNB coin. It powers the entire ecosystem to run some of the biggest DApps, including ApeSwap, Dex Finance, Biswap, Open Leverage, and everyone’s favorite, PancakeSwap.

Binance BNB Auto Burn Explained

Now that we know a little about the token itself let’s talk about the auto burn feature. Coin burn is the process of destroying or permanently storing a coin somewhere, removing it from the current circulating supply. The coin reaches a dead crypto wallet with an unknown key, never to be recovered again.

Coin burns help reduce the overall circulating supply. As for Binance, BNB is burned every quarter, and the exchange will keep burning until 100M coins are taken out of circulation.

When 100M coins are burned, the total supply will drop to 100M. At the time of this writing, it stands at 163,276,974.63 BNB in circulation. BNBs auto burn is done quarterly using two factors: BNB Price and how many blocks are generated on BSC/quarter. If the price goes lower, the burn rate is increased.

On-chain data from BNB Smart Chain is analyzed by the algorithm to determine how many BNB should be burned. The burn amount is adjusted each quarter depending on the BSC Smart Chain metrics.

Why auto burn? Well, the auto burn helps BNB remain transparent with its burning process. The burn will always remain independent of Binance. The formula used by Binance BNB auto burn is B=N*1000/ P+K.

N is the number of blocks generated on the chain, P is the price, and K is initially set at 1000 to keep a constant price anchor. You can follow the BNBBurn website to see how many coins are burned in real-time.

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Blockchain

Best NFT Projects on Ethereum in 2022

While Cardano, Solana, and other blockchains are becoming increasingly popular among NFT buyers, Ethereum is still the king of NFTs. Ether has so many amazing projects, and often times it is hard to figure out where to put your money.

NFTs are quickly transforming the world, and getting in at the right time and the right floor price is key to a successful NFT investment. After looking into the current Ether NFT projects, I have come up with the following items that I think are currently the best NFT projects on this blockchain.

Best NFTs on Ethereum

2021 was a huge year for NFTs, and 2022 will be no different. Even though we are currently in the bear market phase, NFTs are booming.

Decentraland

Built on the Ethereum Network, Decentraland is a virtual world similar to Cardano’s Pavia Metaverse. Users can buy plots of land as NFTs via the $MANA currency. The metaverse has its own DAO that allows users to have a say in the project’s decision-making.

NBA Topshot

Hardcore NBA fans would appreciate what NBA Topshot has to offer. The official NBA-backed marketplace allows you to buy, sell, and trade really NBA moments via NFTs on the Ethereum Network. The marketplace has close to $300M in NFT sales and is highly popular among the NBA community.

Axie Infinity

If you’re interested in NFT games, then Axie Infinity is perfect. The game came out back in 2018 and gathered close to 2.5M players worldwide. If you played Pokemon, then you will feel right at home since the mechanics of Axie are pretty similar. Basically, you capture and train creatures and battle in a single-player or PvP environment. The game’s play-to-earn model allows you to earn tokens on the Ether Network.

Gods Unchained

Similar to Axie Infinity, Gods Unchained is a breakout success in the Ether NFT space. Players have complete ownership of in-game assets and are free to trade them in the marketplace. Gods Unchained is a Deck Building game developed by former League of Legends developers.

Everything you need to know about the best NFT projects on Ethereum in 2022. Want to read more about crypto and blockchain? Check out the Best NFT Projects on Cardano.

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Blockchain

Best NFT Projects on Cardano in 2022

NFTs were extremely successful on Ethereum and Solana, but now it seems it’s Cardano’s time to shine. The underdevelopment Blockchain still has a long way to go in terms of its scaling solutions, but IOHK has managed to shit smart contacts, and the Blockchain supports NFTs.

Some really interesting projects are happening right now on Cardano, and it would be a shame if you missed out. The Cardano NFT scene is blowing up right now, and now is the time to jump in.

Best NFTs on Cardano

There are four main projects on Cardano that are completely blowing up or on the verge of blowing up.

SpaceBundz

One of the best Cardano NFT projects is SpaceBudz, with a collection of 10K unique NFTs. SpaceBudz has crossed over $1.5M in sales and is currently the most popular Cardano NFT project.

Wild Warriors

A new and exciting new NFT project with an affordable ground floor and a high potential for the upshot. Wild Warriors has unique ranks, close to 10 different characters, and the developers will soon introduce an on-chain voting mechanism. The floor prices are rising quickly, so now is the time to get in.

Pavia Metaverse

Pavia is Cardano’s first metaverse project where users can own a piece of virtual land. Close to 10K users have already grabbed a piece of land, and development is moving rapidly. User-owned lands are unique Cardano NFTs based on coordinates with $Pavia.

Clay Nation

This project is backed by non-other than rapper Snoop Dog. The collection has over 10K characters with handcrafted clay traits for Cardano. Clay Nation is one of the most in-demand Cardano NFT projects right now.

Need more help? See How to Restore Yoroi.

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Blockchain News

Bulls Predict $1T Market Cap For Cardano Ada

Cardano and its native token Ada, are the hottest crypto assets in the market right now. Cardano is expected to grow exponentially in the next few years. According to two of the most prominent analysts; Max Maher and Crypto Capital Venture, Ada can hit a $1T Market cap in the 3-5 Years.

In terms of Ada’s price, a $1T market cap would mean a $32 Ada (give or take). The predictions are is extremely good news for Cardano bulls. The long-term outlook of Cardano Ada is extremely bullish.

“I believe that this is possible within the next 3-5 years,” said Maher.

Maher went on to say that it isn’t unreasonable to think that Cardano won’t be the only alt-coin to hit the $1T market cap number.

“I don’t think it is unreasonable to think that there could be 3-5 coins with a $1T market cap 3-5 years from now. And Cardano seems to be one of the top contenders for that space.”

Cardano has stepped into the early stages of its Alonzo Era. Smart Contracts are on the horizon and with its launch on the main net, we are likely to see a supply shock to Ada. Cardano’s end-of-year predictions say $10.

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Blockchain News

Cardano Adoption Grows, You Can Soon Rent Apartments With Ada

Adoption is one of the primary factors in any Crypto’s success and although slowly, the world is starting to notice Cardano Ada. In the most recent development, A Maltese property company called Dreamflats has announced that it will accept Ada.

This means that people in Malta and even those outside of the country who plan to visit can rent apartments in Malta with Cardano. The apartments you can rent with Cardano are situated in a hyper-modern complex of Mercury Tower in Malta.

Dreamflats has yet to announce a price tag for its apartments because the project isn’t yet finished. According to the current projections, Mercury Tower is expected to be completed sometime in Q1 2022.

As far as we can tell, Dreamflats is the first non-digital company to accept Cardano Ada and while this adoption isn’t groundbreaking, it is surely a step in the right direction for the popular cryptocurrency.

It is hereby announced that Dreamflats LTD will accept rental contracts in the CryptoCurrency “Cardano (ADA)” henceforth referred to as ADA. Rental price in ADA will be set upon completion of apartments, and price may vary due to price fluctuations.

Cardano is currently among the top 5 cryptocurrencies in the world. Only days ago it flipped Doge and XRP.

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Blockchain News

Cardano Flips Doge and XRP

It looks like the charisma of the Dogefather wasn’t enough to keep Dogecoin above Cardano Ada and XRP. Despite the recent bearish market trend, Cardano has held its position and is currently in the top 5 cryptocurrencies.

Doge gave everyone a surprise when it rose to unprecedented highs for a meme coin at $0.7. But the recent Bitcoin crash took the entire market down with it and while Bitcoin, as well as many other coins, saw a good enough recovery, Doge isn’t looking too good.

The popular meme coin is struggling to maintain $0.4 which allowed Cardano and XRP to flip its position.

At the time of this writing, Dogecoin is trading at $0.35 and is holding the 7th position in the Crypto market. Meanwhile, one spot above it is everyone’s once-favorite XRP trading at $1.04.

Last but not least, Cardano Ada is in 5th position trading at $1.59. The way things are going, PolkaDot could be next in line to flip Doge which begs the question:

Should I Hold Doge

If you’re a long-term Doge holder chances are you don’t care about its current position. Many have made a good amount of money on Doge thanks to Elon Musk. However, if you purchased the coin near its ATH, you should know that the chances of it crossing $0.7 again are slim. Still, it’s completely up to you how you want to handle your coins. Holding is still better than selling at a loss unless you need the money immediately.

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Blockchain News

Chain Games Testing ERC-20 Convertor, Leaving Ethereum Behind for Cardano

Blockchain is all the rage right now and Cardano is one of the hottest assets in the crypto space. Chain Games, one of the top blockchain gaming and NFT platforms is exploring Cardano. The company has built itself on the back of Ethereum but a move to Cardano is being considered as we speak.

After the upcoming release of Smart Contracts, a number of projects are considering a move to Cardano, especially the ones built on Ethereum. Chain Games will be one of the first major Blockchain gaming platforms that will move to Cardano, if a final decision is made on it, and Smart Contracts release and work as expected.

In a recent announcement, Chain Games confirmed that it is considering and testing a move from Ethereum to Cardano. The consideration is triggered by the much-touted Cardano ERC20 converter which allows Ethereum assets to easily shift to the move efficient and cheaper Cardano.

Our goal at Chain Games is to be cross-blockchain compatible to allow for the most seamless gaming experience w/ the fastest transaction times & lowest fees possible. We are pleased to announce we will be exploring & testing out the Cardano ERC20 converter when it hits testnet!

If the testing goes well, Chain Games moving to Cardano would be another blow to Ethereum. The future of Cardano looks promising but that bright future could possibly put a serious dent into Ethereum.

A plethora of projects built on Ethereum are considering a move to Cardano once Smart Contracts roll out somewhere around August. Besides Chain Games, another prominent example is SingularityNET. The project has already announced the use of Cardano’s crypto migration tool.

More details on the Cardano ERC20 testnet will be shared during this month’s Cardano 360 stream.