Author: changehero
June 22, 2022

While the topic of metaverse is becoming a more common sight in the crypto community, the play-to-earn trend is red hot. Gala Games is a platform poised to take advantage of this situation with their P2E games. Learn all about this up and coming participant in the crypto revolution in gaming! We explain what is Gala Games doing and all about their prospects in our guide.

what is gala crypto guide

While the topic of metaverse is becoming a more common sight in the crypto community, the play-to-earn trend is red hot. Gala Games is a platform poised to take advantage of this situation with their P2E games. Learn all about this up and coming participant in the crypto revolution in gaming industry! We explain what is Gala Games doing and all about their prospects in our guide.

Key Takeaways

  • Gala Games is a creator of blockchain games, established in 2019. Its founders Eric Schiermeyer and Michael McCarthy worked together in mobile games company Zynga;
  • Instead of having separate game projects and disjointed communities, Gala Games builds a network to support all their games in an economy tied with the GALA token;
  • The future of Gala Games looks promising, as they are preparing to launch a game in Epic Games Store for 190 million active users, and are working on their own proprietary blockchain.

What is Gala Games?

Gala Games logo
Gala Games logo

Galaverse: the Gala Games Ecosystem

Gala Games is not your ordinary game developer and publisher: they work exclusively on blockchain games. The team calls their blockchain-based game network Galaverse because instead of being connected by pure association, the games GALA develop actually run on the Gala blockchain.

The value proposition of the games by GALA is owning what you earn. The developers believe using the blockchain technology solves the problem of centralized ownership and instead grants more power to the gamers.

Like many blockchain game developers before them, Gala Games chose to have non-fungible tokens (NFTs) represent ownership rights. Once issued in a specified amount, only this amount of NFTs will exist at a contract address, so it is possible to have unique assets represented with them.

Of course, to have an economy built around Galaverse, NFTs are not enough and there should be a means of exchange. This is why the GALA token exists, which is a regular token on the blockchain.

GALA Games Platform

The key components of the Gala Games Node Ecosystem are:
Gala Games
The Game Development Studios
The Governance-Based Random Distribution Algo
Public Database (DB) with Easy-to-Access Endpoints
The Treasure Chest
The Gala Games Triple-Proof Node System
The Gala Games Node ecosystem map. Source: Gala Games on Medium

The GALA tokens are distributed as rewards for helping maintain the Gala blockchain. With the GALA Game Node, users commit some of their computing power to validate and confirm transactions. The official website claims there are 16 thousand nodes maintaining the ledger.

In total, there are going to be 50 thousand of so called Founder Nodes, which comprise a Proof-of-Work layer of the blockchain. Rented game-specific nodes that also provide rewards run on Proof-of-Stake and are necessary as the amount of games will grow. Finally, free Proof-of-Storage nodes have users commit hosting power to remove reliance on centralized servers.

The GALA App doubles as a wallet for digital assets on the Gala blockchain. However, to stay true to the promise of giving ownership to players, Gala lets users store the assets in a wallet of their choice.

Town Star

At the moment, the only game available for playtesting is a browser-based town sim Town Star. The access to the game is free, and users can earn rewards as long as they have a Gala Games account, but some additional purchases in-game that can boost a town’s productivity.

Town Star NFT marketplace and play-to-earn mechanics uses its own native token TOWN in addition to GALA. With TOWN you can buy skins, skin packs and buildings, available in limited quantities as NFTs, as well as earn the rewards for scoring top positions on the leaderboard.

Gala Games Team and History

The founders of Gala Games are Eric Schiermeyer and Michael McCarthy. Schiermeyer previously founded Zynga, a developer behind massively popular casual games, and served as CRO in Intermix Media, the company behind MySpace.

McCarthy and Schiermeyer worked in Zynga together at the time when Farmville was at its peak popularity. The co-founder duet recognized an opportunity in play-to-earn games early on, and went on to found Gala Games in 2019.

Years later, the Gala Games team has gathered a team a few members shy of one hundred, according to the website. There are roughly a dozen development teams working on separate projects, and three games developed in-house: match-three Town Crush, fantasy RPG Mirandus and the aforementioned Town Star.

What is GALA token?

Like we said before, the Galaverse attempts to build a unified economy for the games and players. One of the cornerstones of this economy is the GALA crypto, so let’s have a closer look at it.

Total Supply50 billion
Supported BlockchainsEthereum, Binance Smart Chain
Launch TypeFair launch
Release scheduleDisinflationary (reward halving)

 One of the main ways of earning GALA is running a node. This includes licensed Founder Nodes, rented Paid Nodes and free nodes that yield 1% of the rewards.

Of course, since it’s a token, traders can find GALA on cryptocurrency exchanges. At the time of writing, the GALA price today is roughly $0.056 a piece.

Gala Games opted for a fair launch of the token, without a premine or a presale. However, early supporters with an NFT license for a Founder Node obviously get an advantage in mining.

What is GALA Coin Used for?

Earning GALA is one thing, but how do you spend it and on what? For that, the official Store is your one-stop shop.

Depending on the purpose of an NFT, it represents in-game items and assets in specified games. For example, you can buy hero packs for Walking Dead Empires or virtual lands in Eternal Paradox (both games are still in development).

It is not only games, though: Gala Music is an entirely separate music streaming platform which also uses GALA. Like in the Gala Games network, users can set up nodes to earn it and spend it on drops from their favorite artists.

Comparison with similar projects: Sky Mavis

Probably the most similar project right now on the market is Sky Mavis, best known for Axie Infinity. While this is not their sole game on the platform, it is the most popular.

Pet battler (like Pokemon) Axie Infinity is powered by the Ronin blockchain. Virtual pet Axies are represented by NFTs, and the game’s economy relies on two currencies: Smooth Love Potion (SLP) and Axie Infinity Shards (AXS).

SLP is an in-game currency and an ERC20 token which is used in breeding Axies: minting a new NFT with properties from the source tokens. AXS are a governance token (also ERC20) which can be staked, locked in to vote and spent in-game.

Axie Infinity has already migrated to a blockchain platform of its own, and its economy is slightly different from the Gala games’ one. Sky Mavis also intends to gradually transfer governance to a DAO of AXS holders, while Gala Games has made no such plans public yet.

What is Gala Games Criticized For?

There are a couple warning signs about the whole Gala ecosystem that are worth directing attention to. The first one is the mission statement, or more exactly, how it translates into reality, and the second is a sustainability problem.

Gala Games maintains that they operate on the premise of decentralization but the devil is in the details. It is true that owning an NFT linked to an in-game asset proves you own it — the token, that is. The asset it is linked to or any rights associated with it are exercised solely by Gala Games, and can be amended or revoked without a notice.

YouTuber Bitcoin Strategy made a video on GALA tokenomics and fairly reviewed issues with the model.

Without focusing too much on the games and their in-game economies, Gerhard brought to attention the fact that the players are more likely to engage with the games for the “earn” part, not “play”. From his own experience, he even claims that people will soon enough find a way to game the system, threatening the sustainability of the cash flow.

Partnerships and Future of Gala Games

Currently, the Gala network exists on the Ethereum and Binance Smart Chain blockchains. But not forever: a proprietary blockchain is in the works. Previously known as GalaChain, its newer working title is Project GYRI.

Nonetheless, Gala World is games first, blockchain second, and players have a lot to look forward, too. Recently Gala Games announced one of their upcoming titles, a battle royale in the Wild West setting GRIT will be available in Epic Games Store, the platform with 190 million active monthly users.

Less flashy but nonetheless significant partnerships of the company include crypto-friendly browser Brave, Mazer Gaming, Bitrue and Polygon.

Gala Games on Social Media 

Last week, Galaverse convention was held in Malta. Blogger Maison Versluis shared a highlight reel for anyone curious about the event.
And obviously, Gala is going to be represented on the NFT NYC 2022 conference! Their VOX tokens might be of interest to the attendees, for sure.
News hub play2moon reviewed one of the upcoming projects Mirandus. The MMORPG will host a playtest on June 21, accompanied by a NFT avatar snapshot.

How to store GALA?

Now that you are more familiar with the fundamentals, only a few things left to learn if you want to dive right in. For example, what is the best wallet for GALA coins?

Pay attention to the chain of the GALA token. For ERC20 tokens, Metamask is a great choice. For BEP20, your options are Binance Chain Wallet or Trust Wallet — the latter supports both versions.

How to buy GALA on ChangeHero?

 Getting GALA with crypto without sign-ups is possible on ChangeHero, and it’s very easy:

  1. Choose the currencies on the home page, amounts and the type of exchange. Provide your GALA wallet address in the next step and check the amounts;
  2. Double-check the provided information, read and accept the Terms of Use and Privacy Policy;
  3. Send in a single transaction the sum of cryptocurrency you will be exchanging. Fixed Rate transactions have a 15-minute limit;
  4. All done? Now we are doing all the work: checking the incoming transaction and doing the exchange as soon as it arrives. 
    • The Best Rate transactions will use the rate current to the time when your funds arrive.
    • The Fixed Rate will use the rate at the time of step 1;
  5. As soon as the exchange has been processed, your GALA are on the way to your wallet. 

In any case, the ChangeHero’s customer support is available 24/7 in the chat on our website or through the email: [email protected].

Conclusion

The Gala platform has impressive backing and talent behind their projects, even though it is only now starting to unwind. Are the gamers going to be sold on the promise of owning what is theirs? It is an open question.

Check out our blog for more tips and beginner-friendly guides. Give ChangeHero a follow on Twitter, Facebook and Telegram for live updates and even more content.

Frequently Asked Questions

  • What is Gala Games?
    • Gala Games is a game development and publishing studio with a particular focus on play-to-earn games. Eric Schiermeyer and Michael McCarthy founded the company in 2019 after having worked on MySpace and Zynga.
  • What is GALA crypto?
    • The GALA crypto token is a universal currency for all games in the its ecosystem and the marketplace. Users earn it for helping maintain a distributed network that powers the ecosystem.
  • What is Gala token used for?
    • You can spend the GALA token on in-game items and assets, or on music on the Gala Music platform.
  • What is the future of Gala Games?
    • The company is working on the proprietary blockchain with a codename Project GYRI. But more importantly, they have 12 games in development, including a battle royale to be launched later in 2022 in the Epic Games Store.
Author: changehero
March 4, 2022

“Digital Gold” and “Safe Haven” are the terms Bitcoin maximalists often use to promote it. Gold bugs believe that gold is the best inflation hedge. A war broke out between Russia and Ukraine in late February, and it sure did impact the economy of both these countries. Who is winning the Bitcoin vs gold debate […]

Safe Haven During War: Bitcoin vs Gold

“Digital Gold” and “Safe Haven” are the terms Bitcoin maximalists often use to promote it. Gold bugs believe that gold is the best inflation hedge. A war broke out between Russia and Ukraine in late February, and it sure did impact the economy of both these countries. Who is winning the Bitcoin vs gold debate now? We tried to answer this question.

Ideal Money

Both Bitcoin and Gold are, in a way, competing to be the ideal money and a safe haven.
For any currency to be ideal money, it should have the following characteristics:

  • Fungibility
  • Durability
  • Divisibility
  • Portability
  • Cognizability
  • Scarcity

Gold has most of the properties of ideal money. It is one of the oldest forms of currency used by civilizations. However, it lacks portability.
On the other hand, Bitcoin checks all the boxes, though fungibility is a debated topic in the community. But, Bitcoin falls behind in terms of cognizability as the digital currency is not as widely adopted as gold.
Gold is a precious metal that is mined and processed. Yearly 2,500-3,000 tonnes of gold is mined, and the industry is regulated.
Bitcoin has a fixed supply of 21 million BTC, and new coins enter the market through mining, a process for recording and validating transactions. On average, 900 new Bitcoins enter the market per day at the current block reward of 6.25 BTC per block. The supply of Bitcoin is predictable and embedded in the protocol.
Gold used to be the backbone of the economy until the 1970s when the governments unchained it from the currency and introduced a fiat system. The search for the new ideal money continues to this day.

Bitcoin vs Gold During War

Bitcoin vs Gold in the last three years
Source: Longtermtrends

Bitcoin has been outperforming gold in terms of price in the last few years. The bull run in the last two years not only brought in institutional investors but recognition as a legal tender in El Salvador.
Compared to Bitcoin, Gold traded sideways the whole time. This isn’t necessarily bad and shows the stability of gold as a safe haven.
It’s a great time to be a Bitcoiner. However, it is at the time of the economic instability and conflict that puts the “digital gold” and “safe haven” status to test.
The time has come.

Gold vs BTC vs Global indexes
Source: Arcane Research

On Feb 21, Vladimir Putin recognised the two breakaway regions Donetsk and Luhansk as independent. The news sent shockwaves to the stock markets and crypto too. At the time, Bitcoin was trading above $37,500, and Gold was at $1895.
Three days later, Russia started a “special military operation” and began striking major cities in Ukraine.
As a surprise to the Bitcoiners, the price plummeted by over 8.5% to $34,337 the same day. Gold stood strong. The price rose by over 4% and almost touched a two year high which can be seen in the graph.
Some thought it was the end of Bitcoin’s “digital gold” narrative, but the story took a turn in the next few days.

Bitcoin vs Gold
Source: Longtermtrends

Bitcoin saw a sharp increase on Feb 28, and the price crossed $40,000. Gold went on a slight downward trend during the same period, which can be seen in the graph above.
The price of Bitcoin continued to grow and almost reached $45,077. Some credit the rise to the expectations that demand will increase in Russia to circumvent the sanctions.

Bitcoin vs Gold: Who Won?

The Bitcoin community does believe that Bitcoin is the winner, and gold bugs argue that volatility is a big issue and the use cases are very limited.
Gold has several industrial applications and not many when it comes to Bitcoin. But Bitcoin does what it’s best at, censorship-resistant payments.
At the time of war, gold reserves may help the governments, but Bitcoin sides by the people on the ground. Donations are flooding in Bitcoin but not in gold. When the fiat is sinking during the conflict, Bitcoin can be an alternative.
It’s still too early to answer this question.
Gold bugs and bitcoiners have common traits. They believe in an ideal form of money, a store of wealth, and want the governments to stay away from their wealth. Bitcoin is in the early stages, similar to the internet in the 90s.
There will be many more tests ahead for Bitcoin to prove whether it’s a safe haven or only a medium for peer-to-peer transactions. Till then, the debate for the ideal money, digital gold and everything else will go on.
If you’ve read the article till the end, we are sure you enjoyed it. We publish articles on crypto and blockchain on our blog regularly. Follow ChangeHero on Twitter, Telegram, Reddit and Facebook to be the first to get notified.

Author: changehero
February 22, 2022

When the Metaverse narrative emerged thanks to Meta, crypto developers of virtual worlds enjoyed the attention but also were pressured into making their own metaverses ready for adoption. What is Decentraland, one of the pioneering crypto Metaverses? Read all you need to know in our guide! Key Takeaways Decentraland is a three-dimensional virtual world divided […]

What is Decentraland (MANA)? A Beginner’s Guide

When the Metaverse narrative emerged thanks to Meta, crypto developers of virtual worlds enjoyed the attention but also were pressured into making their own metaverses ready for adoption. What is Decentraland, one of the pioneering crypto Metaverses? Read all you need to know in our guide!

Key Takeaways

  • Decentraland is a three-dimensional virtual world divided into districts. It is built on Ethereum, and in-game assets are represented by non-fungible tokens;
  • One of the types of these NFTs is LAND, which represent parcels of land accessible in Decentraland. Owner of a parcel can create unique experience for other users and monetize it with MANA;
  • The native cryptocurrency of Decentraland, MANA, is needed to buy virtual land and in-game assets, and represents voting power.

What is Decentraland?

First and foremost, Decentraland is a traversable 3D virtual reality platform. Its unique spin is in being built on the Ethereum blockchain and having capabilities it enables.
For one, Decentraland is, as the name suggests, decentralized because the game data is stored on multiple community-maintained servers. Furthermore, the platform has monetization capabilities possible only in the blockchain ecosystem.
The main appeal of Decentraland is in ownership of parcels of digital land. On these lots, owners are free to set up activities and environments, which can be monetized with the native tokens.
So, what is Decentraland’s price of admission, if any? While the native cryptocurrency MANA is necessary for in-game purchases, users do not need to pay to explore the many districts of Decentraland.
The lands are represented by ERC721 non-fungible LAND tokens, each lot is 6m squared and is assigned a coordinate in the Decentraland’s metaverse. The location of a lot is important, since there are districts of LANDs that give owners and creators targeted traffic.

History and Team behind Decentraland

In 2017, the Decentraland team, led by Ariel “Ari” Meilich and Esteban Ordano at the time, conducted an ICO for the MANA token, as well as select LAND pieces. The goal of $25 million was reached in little over an hour due to a small number of large investors.
The platform itself was first unveiled in a closed beta in 2019, and the public stage commenced in February 2020.
For Ari Meilich, Decentraland was only one of the ventures among the many startups founded by him. In 2020, he stepped down, handing over the reins to the community.
Ordano had a swath of relevant experience with Matic Network and BitPay, as well as blockchain infrastructure provider Zeppelin Solutions. While Meilich went on to create another game development company Big Time Studios, Ordano is still advising the Decentraland project.

What is MANA?

As briefly mentioned before, Decentraland has a native fungible cryptocurrency usable on the platform: the MANA token. While each LAND token is unique, MANA tokens are used as a form of currency on the Decentraland marketplace.
Since Decentraland is powered by Ethereum, MANA and LAND use the Ethereum token standards: ERC20 for MANA, ERC721 NFT for LANDs.
What can be bought with MANA? First of all, parcels of virtual land. The MANA used to purchase LAND is burned (i.e. removed from the supply).
Moreover, MANA can buy you avatars, names, wearables and access to content should the parcel owner charge for it.
After the founders stepped down from directing the project, Decentraland was supported by a decentralized autonomous organization (DAO). As is often the case, token ownership grants voting rights to the users and investors.
In the community vote, MANA and LAND owners can decide the auction rules and policy of this particular Metaverse.

What is Decentraland Crypto MANA Used For?

Therefore, there are a few use cases for MANA within the Decentraland metaverse:

  • It is the Decentraland’s currency. Players can customize their experience, creators can monetize their content using MANA tokens;
  • LAND auctions. Burning MANA reduces its supply, easing the inflationary pressure and increasing the value of existing tokens;
  • Governance. Owners of a stake in the Decentraland’s virtual world get to decide its future.

Comparison with Similar Projects

Perhaps the most prominent competitor to Decentraland at the moment is The Sandbox. After all, the premises of the projects are the same, and the differences between them are in the specifics.
The Sandbox Metaverse is divided into more plots of land (166,464 vs. 90,601), and it allows joint ownership. In Decentraland, parcels of land are generally individually owned with the exception of community-owned plazas.
The Sandbox is not run by a DAO (at least, yet) but by a Hong Kong-based company Bacasable. However, their users get to enjoy a better idea of where the project is headed, since there are always updates in the official channel.
Decentraland was the first to make a proof of concept and launch a public version of their virtual world. The Sandbox at the moment is in its public alpha stage, and accessible on a PC with an official client.

What is Decentraland Criticized For?

Decentraland is not just a blockchain platform, but one that offers a working product — a free-roam game — to end users. It seems that some of them voice frustrations at Decentraland as a game: they report performance issues and lack of things to do.
In the same thread, other users fairly point out that the client is in beta, and if the Metaverse is here to stay, these issues will be sorted out.
The latter challenge was pointed out by NFT Plazas all the way back in 2020, when the game went public. They argued that prohibitive costs will hinder the speed with which the metaverse will fill with content but they commended the project’s team for the effort to reward creators.

Partnerships and Future Plans

What is Decentraland’s user count? Ari Meilich claims the game has reached 300 thousand monthly active users, even though the real growth started “a couple months ago”.
Since there is no central entity to oversee and fund the development, the planning is done by the community. The closest to release features are improvements to SDK and a desktop client, but editor, localization and companion app are also in the plans.
Decentraland news is frequently name-dropping high-profile partners to their Metaverse. Samsung hosted an event for the users interested in their updates, Samsung Unpacked, in a dedicated lobby, Samsung 837X.
JP Morgan’s blockchain branch, Onyx, has also set up an Onyx Lounge in the Metajuku district. The virtual lounge was unveiled along with the report in which Onyx named the metaverse a $1 trillion market opportunity.

Decentraland in Social Media


Decentraland has turned two years old! Despite being largely under development, it has already got thousands of users that believe in the future development.


The official account announced an event in the Metaverse to celebrate the anniversary.


Meanwhile, even the mainstream media is reporting the spike in demand in virtual real estate. Just like NFTs pitch ownership of art and other assets, some people with cash to spare grab virtual land to be a landlord in the metaverse.

How to store MANA?

As an ERC20 token, MANA can be stored in most wallets that have support for Ethereum tokens. The guidelines for Decentraland recommend Metamask for its useful integrations.
The ChangeHero team can recommend the Exodus wallet if you want a software wallet with as many features as Metamask. Instant swaps are one of them, and the best rates for it are provided by ChangeHero.
For cold storage away from hackers and exploits, you can use a Trezor wallet. It can be easily managed with a desktop or browser application Trezor Suite.

How to Exchange MANA?

Getting MANA with crypto without sign-ups is possible on ChangeHero, and it’s very easy:

  1. Choose the currencies on the home page, amounts and the type of exchange. Provide your MANA wallet address in the next step and check the amounts;
  2. Double-check the provided information, read and accept the Terms of Use and Privacy Policy;
  3. Send in a single transaction the sum of cryptocurrency you will be exchanging. Fixed Rate transactions have a 15-minute limit;
  4. All done? Now we are doing all the work: checking the incoming transaction and doing the exchange as soon as it arrives. 
    • The Best Rate transactions will use the rate current to the time when your funds arrive.
      The Fixed Rate will use the rate at the time of step 1;
  5. As soon as the exchange has been processed, your MANA are on the way to your wallet. 

ChangeHero’s customer support is available 24/7 in the chat on our website or through the email: [email protected].

Conclusion

The pandemic normalized many things that previously were thought to be unfeasible, from remote work to moving every facet of our interactions to the Metaverse. Decentraland arrived on the scene just in time to be at the forefront of this nascent sphere.
Want to learn more about all things crypto? Check out our blog and follow us on social media: Twitter, Facebook, Reddit and Telegram.

Frequently Asked Questions

[sc_fs_multi_faq headline-0=”h4″ question-0=”What is Decentraland and how does it work?” answer-0=”Decentraland is a three-dimensional traversable virtual world divided into thematic districts and lobbies. Decentraland is powered by the Ethereum blockchain, so it utilizes MANA tokens as a currency and NFTs for in-game assets and plots of land.” image-0=”” headline-1=”h4″ question-1=”What can you do in Decentraland?” answer-1=”Decentraland has thematic districts, where owners of plots can place activities, games and experiences for others to enjoy. Users can also buy wearables and custom avatars in exchange for MANA.” image-1=”” headline-2=”h4″ question-2=”What is MANA?” answer-2=”MANA is a native cryptocurrency of Decentraland. In addition to buying in-game assets and parcels of land, it grants its holder voting rights on the future of the virtual world.” image-2=”” headline-3=”h4″ question-3=”What is Decentraland built on?” answer-3=”Decentraland functions are supported by the Ethereum network. The front-end of Decentraland is developed in Unreal Engine 4.” image-3=”” headline-4=”h4″ question-4=”What is the future of Decentraland?” answer-4=”The future of Decentraland is decided by the DAO. Particular issues are voted on by the holders of MANA and LAND proportional to their stake. The features coming out soon are desktop client and a better SDK.” image-4=”” count=”5″ html=”true” css_class=””]

Author: changehero
February 16, 2022

Most blockchains have to choose two out of three: scalability, security and decentralization. This so-called blockchain trilemma has inspired many blockchain developers to find a solution without compromise. What is Fantom’s solution to this problem, how does it work and why does it need the FTM token — explained in our Beginner’s guide. Key Takeaways […]

What is Fantom (FTM)? A Beginner’s Guide

Most blockchains have to choose two out of three: scalability, security and decentralization. This so-called blockchain trilemma has inspired many blockchain developers to find a solution without compromise. What is Fantom’s solution to this problem, how does it work and why does it need the FTM token — explained in our Beginner’s guide.

Key Takeaways

  • Fantom is a layer-one distributed ledger that uses a direct acyclic graph (DAG) to secure transactions. DAG achieves near-instant finality because it allows transactions to be processed asynchronously;
  • Fantom supports several application layers, each secured with the FTM token. FTM is necessary for staking, paying transaction fees and voting;
  • The Fantom ecosystem includes 158 protocols with the accumulated value of $8.5 billion USD.

What is Fantom?

Fantom does not use a blockchain like Bitcoin and other cryptocurrencies do. Instead, it uses a similar but non-linear structure — direct acyclic graph, which comes with its own set of advantages and challenges.

Consensus Protocol Lachesis

At its core, the integrity of records in Fantom is secured with Byzantine fault tolerance like in most proof-of-stake blockchains. To achieve this with a direct acyclic graph, Fantom developers came up with a type of BFT-securing protocol that works asynchronously.
In a linear blockchain, ideally there is only one block from which the sequence can be continued. If competing miners create a block at the same time and nodes register them simultaneously, it can temporarily split the chain.
The protocol Fantom uses, called Lachesis, can accept two or more blocks that get produced simultaneously, preventing transactions from failing. Another defining feature of Lachesis is that it is leaderless, so every block producer has equal status.

Application Development Layer Opera

With the Lachesis layer being the foundation, the second layer, Opera, is reserved specifically for building. Opera is Ethereum virtual machine-compatible, essentially meaning that anything that can run on the Ethereum blockchain, can run on Fantom, too.
In fact, Opera is only one of the execution chains that can be supported by the Lachesis consensus layer. This is why Fantom can support chains fashioned after other blockchains such as Binance Smart Chain or Ethereum.

History and Team behind Fantom

The main principles that Fantom uses were described in 2018 by a set of researchers and cryptographers. Key contributions were made by Quan Nguyen, Sang-Min Choi, Jiho Park, Michael Kong and Andre Cronje.
The team and company that now supports the Fantom development is Fantom Foundation. Michael Kong and Quan Nguyen serve there as CTO and CIO respectively, while Andre Cronje contributes as an advisor.
The development and launch were funded with proceeds from the presale, held in 2018 in February and June in four rounds. The Foundation raised about $45 million in funding from Alameda Research, Block Tower Capital and other VCs from around the world.
The testnet for the platform went live in 2018, and v.0.1 with Opera was released on the mainnet in December 2019.

What is FTM?

Fantom’s security protocol Lachesis is essentially a Proof-of-Stake specification. And in Proof-of-Stake, native tokens are used to represent monetary rewards and sometimes, voting power.
Moreover, in Ethereum Virtual Machine-powered platforms, the nodes operating EVM are also incentivized with tokens. To execute smart contracts, users pay for gas with a native token.
Fantom supports several networks, each with their own token. The Ethereum chain of Fantom uses the ERC-20 FTM token, and the Binance Smart Chain needs BEP-2 FTM.
The total supply of 3.175 billion FTM was minted at launch. 40% of it was sold to investors, with the rest going to the team, advisors and to the staking rewards pool.
The team’s and advisor’s FTM were released into circulation three months after the launch, in November 2020. All FTM are expected to be unvested in late 2023, when the staking rewards pool will distribute the rest of the supply in circulation.

What is Fantom crypto used for?

As already discussed in the previous section, there are a number of ways to use the FTM coin:

  • Staking. If you are not meeting a requirement of 1,000,000 FTM to run a validator node, you can delegate as little as 1 FTM and receive a proportional reward. The team claims the current APR for a FTM stake or delegation is 4%, or 13% for a year-long commitment.
  • Network fees. Any transaction, be it a token transfer or an EVM call, incurs a fee in FTM. This fee will be used to pay the validators.
  • Voting. Validators can take part in an on-chain vote regarding things such as block rewards and technical committees. Delegators can’t use their stake to vote but they can pick the validator that will represent their views.

Comparison with Similar Projects

Fantom was not the first project to set out to solve the blockchain trilemma: scalability, security and decentralization. Algorand also strives to solve this problem.
The differences between these two are structural: Algorand uses probabilistic finality while Fantom opts for asynchronicity. Algorand is also layer-one first in design, while Fantom puts significant attention toward sub-chains.
Fantom wasn’t the first platform to use direct acyclic graphs either. Another example of a DAG network is IOTA’s Tangle ledger, which does not have transaction fees at all to be usable in Internet-of-Things.
In structure, Fantom is more similar to the Cosmos blockchain, with its security layer and application layers. In fact, you can use the Cosmos SDK to build on Fantom.

What is Fantom Criticized For?

Messari Research described direct acyclic graph platforms in general as vulnerable to attacks in low transaction activity periods. In Fantom’s profile, they mention Fantom Foundation did not deliver on proposed improvements to smart contract platforms.
Fantom’s key contributor Andre Cronje inadvertently became involved in the Wonderland controversy this January. Cronje announced a collaboration with Daniele Sestagalli not long before another of his projects, Wonderland, was linked to a serial fraudster.
Cronje stepped away from the joint project after the news. The case did not affect the Fantom ecosystem directly.

Partnerships and Future Plans

At the time of writing, the total value locked in Fantom is $8.46 billion USD across 158 protocols, according to DeFi Llama. Aside from the most popular Ethereum-compatible DeFi protocols and stablecoins, Fantom houses several popular protocols native to the chain.
For example, automatic market maker Spookyswap, lending protocol Scream and non-custodial liquidity protocol Geist Finance. The three protocols account for more than $3 billion in TVL.
As for the future updates, the largest one in the works is the Fantom Virtual Machine. There are no estimated dates of shipping yet, but it will significantly improve the capabilities of the network.

Fantom on Social Media


Users often compare Fantom to Ethereum, given the purposes and use cases of both networks.


Fantom is trending in the CoinGecko database searches, hinting at an increasing user demand.


Trader CryptoBullet gives a short-term forecast for FTM. To close the volume profile visible range, FTM’s price has to go to the support level they highlighted.

How to store Fantom?

For access to all the features of Fantom Network, the developers suggest using the Fantom Wallet. If you are frequently using other cryptocurrencies, you might want to look at multi-coin alternatives.
ERC20 FTM can be stored in the Exodus wallet, where you can instantly swap the tokens with any other supported cryptocurrency with ChangeHero. For more reliable storage, Trezor cold wallets also support ERC20 FTM. 

Where to Buy Fantom Crypto?

FTM can be traded on some crypto exchanges but it comes with a lot of unnecessary hassles. You have to create an account and deposit funds into the exchange’s custody. 
ChangeHero is an alternative way to trade FTM against any currency supported by the service. It’s a non-custodial instant cryptocurrency exchange, so you won’t have to worry about losing access to your funds or setting up an account.
For your convenience, FTM can be bought on ChangeHero in five easy steps:

  1. Choose the currencies on the home page, amounts and the type of exchange. Provide your wallet address in the next step and check the amounts;
  2. Double-check the provided information, read and accept the Terms of Use and Privacy Policy;
  3. Send in a single transaction the sum of cryptocurrency you will be exchanging. Fixed Rate transactions have a 15-minute limit;
  4. And now, relax! We are doing all the work: checking the incoming transaction and doing the exchange as soon as it arrives;
  5. As soon as the exchange has been processed, your FTM are on the way to your wallet. We’ll be happy to hear your feedback if you enjoyed using ChangeHero!

Customer support is always available in chat on our website, official Telegram group or through the email: [email protected].

Conclusion

Fantom offers an unconventional solution for the blockchain trilemma that will only improve by onboarding more users. The competition in smart contract platforms is saturated, but Fantom is already making a name for itself.
Browse our blog for even more educational articles and Fantom crypto news. ChangeHero is on social media, too: find us on Twitter, Facebook, Reddit and Telegram.

FAQ

[sc_fs_multi_faq headline-0=”h4″ question-0=”What is Fantom?” answer-0=”Fantom is a distributed ledger that consists of two layers: consensus layer and multiple application layers that support decentralized apps compatible with the Ethereum virtual machine.” image-0=”” headline-1=”h4″ question-1=”What does Fantom do?” answer-1=”Fantom is developing with a particular focus on DeFi, thanks to the contribution of Yearn.Finance founder Andre Cronje. It houses 158 protocols that come together to $8.46 billion of total value locked.” image-1=”” headline-2=”h4″ question-2=”What is FTM?” answer-2=”FTM is a native token of the Fantom network, needed for staking, transaction fees and on-chain voting.” image-2=”” headline-3=”h4″ question-3=”How fast is Fantom?” answer-3=”The goal of the developers is to make Fantom scale up to 300,000 finalized transactions per second. On 25 January 2022, when Fantom network processed more transactions in a day than Ethereum, its actual throughput reached eight transactions per second.” image-3=”” headline-4=”h4″ question-4=”What is the future of Fantom?” answer-4=”Fantom is attracting builders to their DeFi ecosystem to improve the security of the network. The largest upgrade in the pipeline is the native Fantom virtual machine.” image-4=”” count=”5″ html=”true” css_class=””]

Author: changehero
January 27, 2022

The mainstream media is about to declare Bitcoin dead for the umpteenth time, as the cryptocurrency market rapidly lost 18% of its value over a week. However, not only is this situation far from the end of all crypto, it can even be turned to your advantage. We will explain how, and give a list […]

Which Cryptos to Buy During the Dip?

The mainstream media is about to declare Bitcoin dead for the umpteenth time, as the cryptocurrency market rapidly lost 18% of its value over a week. However, not only is this situation far from the end of all crypto, it can even be turned to your advantage. We will explain how, and give a list of cryptos to buy during the dip.

Key Takeaways

  • Last weekend, the stock market plunge sent the cryptocurrency market down the drain and caused massive liquidations across the board. Top cryptocurrencies lost 10% to 20% of their value on average, and the total market cap shrunk by $700 billion;
  • Some crypto platforms even managed to benefit from this event. For example, MakerDAO capitalized on ETH liquidations, while ATOM decoupled from the bearish trend altogether;
  • While some see this as a setback, for others this is an opportunity to buy the dip. We highlight several cryptos to buy during the dip: BTC, ETH, FTM, ATOM and NEAR.

What happened in the last few days?

Late January proved bearish for the cryptocurrency market, when after the market correction this past weekend erased almost $700B of value from the total market cap. Bitcoin went down 28% and ether suffered a 40% loss, reaching the 6-month minimum.
The sudden collapse is said to be tied to the movement of the tech stocks, as the Nasdaq composite stock index fell by 5%. (Some analysts claim that the real reason is not that simple).
Other possible reasons could be macroeconomic: the stock market is in a comparable position because of the US Federal Reserve press conference. The topic was the asset-purchase program and various related policies; the announced conclusion points to the increase in federal funds rate.
The proposition of a blanket ban on cryptocurrencies by the Central Bank of Russia did not seem to shake the markets much. Russia is now walking away from the ban in favor of regulating.
Now that the sudden selloff is slowing down, are you asking yourself, “What coins should I buy for dip?” If yes, then read on for our list of cryptos to buy during the dip.

Cryptos to buy during the dip

Regardless of the reason, this correction could pose a chance to buy the dip. Speaking of, what is the “buy the dip” strategy, exactly?
Simply put, this is a contrarian angle to the golden rule of trading — “buy low”. When the market cools down, and the price bounces up, there will be a good chance to sell high for profit.
But for that chance to be guaranteed, you need to know options that have enough potential to recover. What are the best cryptos to buy now?
Check out five cryptos to buy during the dip that we think are a safe pick.

Bitcoin

This one is obvious: after all, it is the original cryptocurrency and is the most adopted one. History proves that in Bitcoin there have been multiple cycles of dips and rallies, each culminating in a new record.
From January to April 2013, BTC rallied from $13 to $230. The sharp correction took the price down 70%, to $68 — which is still a 423% profit from the 2013 opening price.
A similar pattern occurred in 2017-2018: the price pumped parabolically to little shy of $20,000. The subsequent weeks saw a sharp pullback below $7 thousand but again, it’s worth remembering BTC at the start of 2017 was trading below $1 thousand.
Is Bitcoin dip 2022 the same? Time will tell, as this cycle seems to be playing out differently so far.
At the moment of writing, one BTC is traded for $36,413.60. Bitcoin is down 21% in comparison to the opening price in 2022.
Many Bitcoin bulls claim that the $100,000 target is still on the table — but maybe later than sooner. Stock-to-flow model author Plan B still sticks to it, and despite being in the red, El Salvador president Nayib Bukele continues to announce dip purchases.

Ethereum

By 2022, the sheer volume of utility in the Ethereum ecosystem is nothing to sneeze at. Like with Bitcoin, it should be out of question whether one needs to buy the dip of ETH.
Ethereum was also hit rather heavily in the correction. On the weekend, its daily losses came up to 14% and caused massive liquidations of collateral in MakerDAO, Compound and Aave.
At the moment of writing, one ETH is traded for $2,438.79. Ethereum is down 34% in comparison to the opening price in 2022.
What’s in store for Ethereum in 2022? Ethereum will keep facing stiff competition from layer-one blockchains such as Solana. On-chain data suggests that at the moment value is flowing out of Ether into altcoins and even NFTs.
Nevertheless, the upcoming shift to Proof-of-Stake can help ETH secure its leading position. By the way, the Ethereum Foundation ditched the “Ethereum 2.0” label, and now it is called “Consensus Layer”.

Fantom (FTM)

The following altcoins are included in the cryptos to buy during the dip list because they managed to outperform both BTC and ETH in 2021 and 2022 so far. Why did Fantom do better than the rest?
Over the course of 2021. Fantom went parabolic from $0.017 all the way up to $2.25. This is a 13,135% growth in a year.
In 2022 alone Fantom outperformed Ethereum in more ways than one: it beat its transaction activity on Monday. The DeFi network flipped Binance Smart Chain after the launch of 0xDAO (DEX), Multichain (cross-chain bridge) and announcement of Solid Swap (AMM).
At the moment of writing, one FTM is traded for $2.19. Fantom is down only 3% in comparison to the opening price in 2022.
Fantom almost reached a new ATH on January 16, pumping to $3.35 not long before the market carnage. The drop caused it to return to the $2 support but the trading volumes and technical analysis suggest the discount may not last too long.
Altcoin Sherpa, for example, predicts that the $3.3 resistance may be broken soon, which means a new ATH.

Cosmos (ATOM)

Another unexpected asset in cryptos to buy during the dip is Cosmos. Its fundamentals proved to be so strong, that it actually rose during the selloff.
Cosmos’ ATOM managed to rise by 8% during the bloodshed. The defying factor was the anticipation of airdrops of Cosmos’ hub tokens and the bridge to Polkadot.
At the moment of writing, one ATOM is traded for $31.09. Cosmos is down 5% in comparison to the opening price in 2022.
Despite that ATOM has already shaken off the gains, it might still be too early to buy in. Before that, analysts recommend to watch whether ATOM defends support levels at $25 and $20.
More opportunities for growth are certain to appear in 2022, as four major upgrades and the bridge to Polkadot are in the works.

Near Protocol (NEAR)

Another layer-one network that attracted attention among cryptos to buy during the dip is Near Protocol. Unlike the previous two, it sports an Ethereum Virtual Machine-compatible platform Aurora, where the dApps can already migrate to.
NEAR somewhat repeated the price movement of ATOM and FTM. Unlike these two, it actually managed to score a new ATH on Jan 15, 2022: $20.42.
It is already down 45.47% down from the ATH but the good news is: you won’t be buying the high!
At the moment of writing, one NEAR is traded for $11.13. Near Protocol is down 23% in comparison to the opening price in 2022.
So where does the confidence in the bounce come from? In the short term, NEAR entered the oversold area very quickly, creating circumstances attractive for buyers.
In the longer term, Near Protocol’s Aurora and Rainbow Bridge were cited by the Panthera Capital’s analyst as the features that can cause explosive growth of the ecosystem.

Conclusion

What coins will explode in 2022? Whatever any shiller says, the real answer is, no one can tell you for sure. These five cryptocurrencies, however, are a safe pick to profit within 2022.
Did you enjoy the analysis? Do you have your own ideas? Make sure to let us know in the comments below or on social media (Twitter, Facebook, Reddit and Telegram)! Check out our blog for more crypto news coverage and educational articles.


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Author: changehero
January 26, 2022

The crypto market at the time of writing has tens of thousands crypto projects running on different chains. Making use of different protocols on an individual level becomes a challenge. What is Cosmos crypto platform doing to solve this problem? You will learn about their interoperability solution and multi-chain protocol in our guide.

What is Cosmos (ATOM)? A Beginner’s Guide

The crypto market at the time of writing has tens of thousands crypto projects running on different chains, so making use of different protocols on an individual level becomes a challenge. What is Cosmos crypto platform doing to solve this problem? Learn about their interoperability solution and multi-chain protocol in our guide.

Key Takeaways

  • Cosmos aims to become “the Internet of blockchains”. It intends to onboard different blockchain solutions to the Cosmos-powered decentralized network, in which they can all communicate;
  • The central part of Cosmos called Hub uses the Tendermint BFT consensus algorithm to secure all zones (sub-chains). Therefore, to ensure consensus and security of the network, validators stake the native tokens ATOM ;
  • The next upgrade for Cosmos, Theta, with liquid staking, cross-chain accounts and NFTs, is expected to arrive in Q1 2022. Moreover, hundreds of zones are in development and will keep introducing more networks and features to the platform.

What is Cosmos?

Cosmos logo with brand name and slogan Internet of blockchains
Cosmos logo © Wikimedia Commons

The idea behind Cosmos is to provide an open source platform for the multitudes of blockchain applications (from simple monetary systems to virtual machines) that will be uniformly secured by a common algorithm. The Cosmos blockchains are called zones, and the central zone, called the Cosmos Hub, is secured with the Tendermint BFT algorithm.

Tendermint BFT

The Tendermint consensus uses voting to propagate blocks, and appoints a round-leader or proposer from a list. Then it puts out a set of transactions for inclusion in the next block, and the rest of validators vote on it.

However, voting on block inclusion is not the only option for validator nodes: they can determine block gas limits, coordinate updates or changes to the constitution of the Cosmos Hub. As a result, each zone allows for a separate governance mechanism and constitution.

Interoperability

The hub and zones communicate with the help of inter-blockchain communication protocol (IBCP or IBC protocol). The Hub keeps track of all tokens in the hubs, and transfers between zones go through it, which eliminates the need to track liquidity in the zones.

Each zone can operate on its own rules or emulate an existing blockchain network, but existing blockchains use different programming languages. To make sure applications connect with the blockchain, Tendermint makes use of application blockchain interface (ABCI).

With ABCI, it is possible to set a boundary between the replication and the state machine (the code that dictates behavior in defined scenarios). For example, if we put Bitcoin on Cosmos, the blockchain would set the canonical order and share data between nodes and ABCI would maintain UTXOs and prevent double-spending.

Bridge Zones

What is more, the so called bridge zones connect Cosmos network to the existing blockchains and appropriate contracts on the other blockchain.

The governing contract would keep track of all tokens deposited and withdrawn from the bridge. Therefore, whether the bridge zone is working as intended and is accountable for it is up to the validators of that zone.

Gravity Bridge

One of the most used bridges on Cosmos is the bridge to Ethereum called Gravity Bridge. It allows not only native coins of both networks to flow to one another, but also Cosmos and Ethereum tokens.

History and the Team behind Cosmos

The Tendermint consensus was first described in 2014 by Jae Kwon, who would later go on to found Tendermint Inc. Ethan Buchman, the co-founder of Tendermint Inc. assisted with the further development and building of the Tendermint-based blockchain technology.

Interchain Foundation (ICF) unveiled Cosmos in 2016, and it now oversees the development of Tendermint Core, the network and the Cosmos software development kit (SDK). The Cosmos team ran an initial coin offering for ATOM in 2017, to boost the development of these products, and by 2019 the Cosmos Hub hit the mainnet.

What about the ATOM tokens now? Let’s have a look.

What is ATOM?

Consensus AlgorithmDelegated Proof-of-Stake
Emission TypeInflationary
ICO Price$0.025~0.1
Transactions per second4,000 tps
Capped SupplyNo

Despite Cosmos Hub being a multi-asset ledger, one can only do the voting, staking and paying transaction fees with atoms, the native cryptocurrency of the Cosmos Hub. By the way, atoms are trading on exchanges under the ATOM ticker.

ATOM is inflationary, with ⅓ of the total supply going to validator incentives every year. Therefore, the inflation rate fluctuates between 7% and 20%, depending on the amount of ATOM staked.

How do you Use Cosmos (ATOM)?

According to the fundraiser disclosure, atoms are not a store of value or a medium of exchange. Conversely, the coins’ purpose is maintaining the Cosmos network and voting.

In practice, crypto enthusiasts still trade ATOM on cryptocurrency exchanges and use them as an investment tool for Cosmos. After all, one can earn rewards from staking ATOM and then unlock them after a waiting period of 21 days.

Comparison with Similar Projects

The white paper of Cosmos draws comparisons to Stellar. Their consensus algorithm also uses probabilistic finality but is less secure because instead of total consensus it uses quorums.

In addition, Tendermint SDK is the underlying engine of the Terra (LUNA) ecosystem. Their value proposition is similar but applied to a more narrow field of stablecoins instead of separate chains.

Cosmos vs Polkadot

Just like Cosmos is building ‘the Internet of blockchains’, Polkadot’s mission of building a Web3 platform is essentially the same. Same are the principles of parallel processing and securing the platform with a single central chain, too.

A principal difference is that Polkadot parachains have their own state machines and share sets of validators with the Relay chain. Another is that anyone can build a hub, without needing to win a slot in a parachain auction.

Cosmos vs Ethereum

Cosmos was also once considered to be one of the ways to scale Ethereum. The developers worked on Plasma sharding in parallel with the Cosmos SDK and chain.

After all, a Cosmos-Ethereum hub can support the same consensus mechanism and rules that Ethereum has. Practical implementation of this, Ethermint, showed performance of 200 tps (as opposed to the base 15 tps of Ethereum).

What are the Downsides?

The Stellar white paper also mentions Tendermint consensus as prone to centralization by uneven staking reward distribution. The NEAR whitepaper describes a vulnerability that arises from the Cosmos’ architecture: creating an invalid transaction is as easy as copying it from a zone to the Hub.

In addition, the stake requirement can exclude network participants from governance and lead to concentration of power. Short voting periods (21 days) do not help either, as they favor short-term solutions, and a high token dilution rate (7-20%) is a problem, too.

Partnerships and future plans

There are four major upgrades planned for 2022, one for each quarter. The closest one, Theta, is going to include improvements to governance, basic NFT functionality, interchain accounts and liquid staking.
Further updates are very likely to have features like token issuance, Chain Name Service, Gravity DEX v2 and layered security.

At the moment, there are 262 apps and services at various stages of development in the Cosmos ecosystem according to the official website. It includes and connects to well-known projects like Terra, Binance, THORChain, Crypto.com, KuCoin’s KuChain and OKX’s OKExChain.

Cosmos and ATOM on Twitter

To no one’s surprise, Cosmos has a faithful community on Twitter. With a solid premise, many users are convinced in the utility of the project.
More branches for the Cosmos network! It looks like RUNE will be the next to join the Internet of Blockchains.
Like any real platform, Cosmos faces issues as well. Users Rarma and Golden Ratio Staking discuss what should be done with the stakes of inactive validators.

Where to Store ATOM?

The majority of multi-coin wallets support ATOM. For one, we recommend Exodus, because you can stake and exchange ATOM with ChangeHero right in your wallet.

How to Exchange ATOM on ChangeHero?

Now, how do you get ATOM? You don’t have to search all exchanges that offer ATOM pairs for the best rate, because ChangeHero does it for you. All you need to do is:

  1. Choose the currencies on the home page, amounts and the type of exchange. Provide your wallet address in the next step and check the amounts;
  2. Double-check the provided information, read and accept the Terms of Use and Privacy Policy;
  3. Send in a single transaction the digital assets you will be exchanging. Fixed Rate transactions have a 15-minute limit;
  4. And now, relax! We are doing all the work: checking the incoming transaction and doing the exchange as soon as it arrives;
  5. As soon as we process the exchange, your ATOM are on the way to your wallet. Leave a review with your impressions while you’re at it!

Customer support is available 24/7 in the chat on our website or through the email: [email protected].

Conclusion

The blockchain interoperability problem came as an inevitable result of diverse networks springing up. It is now up to Cosmos to be the platform that wins the race to find the solution to this problem.

Find guides, digests and more Cosmos crypto news in our blog. For the info on the go, check us out on Twitter, Facebook, Reddit and Telegram.


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Author: changehero
January 20, 2022

Scaling and privacy have been hot buttons for cryptocurrency users and developers since the very beginning. Bitcoin’s transparency and low speed slow down adoption, but if it wasn’t for these flaws, multitudes of protocols, forks and altcoins wouldn’t have been created. Since it’s based on Bitcoin’s code, Litecoin by extension stumbles upon the same problems, […]

What is MimbleWimble Going to Do for Litecoin?

Scaling and privacy have been hot buttons for cryptocurrency users and developers since the very beginning. Bitcoin’s transparency and low speed slow down adoption, but if it wasn’t for these flaws, multitudes of protocols, forks and altcoins wouldn’t have been created. Since it’s based on Bitcoin’s code, Litecoin by extension stumbles upon the same problems, which it solves with integrations. What is MimbleWimble and how it can affect Litecoin?

Key Takeaways

  • MimbleWimble is a privacy- and scalability-enhancing blockchain protocol. Its integration will let Litecoin users mask sender and receiver’s addresses and the transferred amount;
  • After more than two years in development, the protocol is on track for a release in early 2022;
  • There are opposing points of view on this feature: it is supposed to improve Litecoin’s privacy, anonymity and fungibility. However, there is a chance it will further slow down mass adoption of LTC.

What is MimbleWimble?

First things first: what is MimbleWimble? In case you didn’t know, MimbleWimble (MW) is a set of blockchain protocols which change the way a transaction is recorded on the blockchain.
The main utility of this protocol is privacy, as it uses elliptic curve cryptography to obfuscate the addresses of a sender and receiver, as well as the amount transferred. MW is used by privacy coins such as Grin, Beam, and there is a native Mimblewimble coin (MWC).
Therefore, it is a flexible protocol that can be integrated into other blockchains or work on its own. MW itself achieves privacy with a combination of other privacy-preserving protocols: Confidential Transactions, Dandelion, CoinJoin and Cut-Through.
The Confidential Transactions protocol was first used by Monero: it is the feature that lets the transferred amount be masked. The Dandelion++ protocol “diffuses” a transaction through the network by broadcasting it to as many nodes as possible non-linearly, obscuring the origin.
The MimbleWimble privacy features come hand in hand with scalability. The advanced cryptography in most privacy coins scales poorly, but to prevent blockchain bloat, MW includes CoinJoin and Cut-Through protocols.
CoinJoin works like an on-chain coin mixer: it changes UTXOs identical in amount so that a direct chain of transfers gets broken. Cut-Through aggregates transactions to help blocks accommodate more of them at once.
The MimbleWimble Litecoin implementation has been in development since December 2019. In September 2020, the developers adopted the MWEB acronym (stands for “MimbleWimble Extension Block”) for this specification.

When will MimbleWimble Roll Out for Litecoin?

“When MWEB” has been a question for more than two years in the Litecoin community. Luckily for them, the MWEB developer David Burkett has confirmed that if the testing goes right, a release candidate will be done in January.
After that, it will most likely be tested on testnet first, but it is safe to assume that MWEB will hit Litecoin’s mainnet in early 2022.

What will MimbleWimble Do for Litecoin?

MWEB is expected to further improve Litecoin’s protocol on the three fronts:

  • Anonymity. Users will be able to opt in for anonymous transactions and keep their transaction history secret from outside observers. Anonymous coins cause concern from the regulators but the optional nature of the feature is supposed to keep the “privacy coin” label off Litecoin.
  • Fungibility. It is one of the properties of money, meaning that all units of the currency have equal value, that Bitcoin, and by extension Litecoin, currently lack. If an LTC UTXO has no recorded history of illicit use, it can be exchanged for another LTC.
  • Scalability. Extension blocks can significantly improve the chain’s throughput by simply allowing more transactions in a block — a simple and elegant solution.

Furthermore, MWEB will become one of the largest upgrades for the Litecoin protocol in a while, and is already the most anticipated one. This is most certainly going to have an effect on the price of the asset.

Opinion on MimbleWimble in Litecoin

As a team of blockchain professionals, ChangeHero is also following this process. Here is what our CMO Alexey thinks about the impact of the upgrade:

MimbleWimble is going to be popular during these times of ‘KYC terror’, mentioned at the drop of a hat. The question is, who is it going to be popular with? The users of coin mixers and transaction obfuscation protocols.
I don’t think we will see MimbleWimble support on Binance, OKEx or other centralized exchanges, which are collaborating with law enforcement and seeking a compromise with regulators. Monero and Zcash’s delisting examples are enough to conclude that.
Another thing that cannot be ignored is that despite the claims, making use of the MimbleWimble security will come at the expense of transaction speed. An advanced protocol is inherently more complex, and this specification uses extension blocks, which add to the computational and mining complexity.
All of the above will make mass adoption even more distant from coming true. The most probable result is that MWEB will end up as a niche technology like Lightning Network which is going to be utilized by a fraction of users.

Tweets on MimbleWimble


Litecoin Magazine shared a fragment of CoinBureau’s video on the upcoming upgrade. They quote Guy’s conclusion that MWEB will create positive traction for LTC.


Litecoin holders are already bracing for a shock. Combined with the news of an upcoming release, in 2022 Litecoin is seeing an unprecedented surge in network activity.


MWEB has successfully been audited by Quarkslab. There is hardly a better sign that a release is coming soon.

Conclusion

So, what is MimbleWimble going to become: a groundbreaking upgrade or an unnecessary undertaking? Of course, only time will tell for sure but even now there is much to anticipate and discuss.
What do you think about the cited opinions? Feel free to share your thoughts in the comments in our blog or on social media: Twitter, Facebook, Reddit and Telegram.


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Author: changehero
January 19, 2022

Ethereum being the go-to smart contract network doesn’t mean it is perfect. In fact, it has so many problems that there are a host of alternatives to Ethereum, each aiming to improve the concept. One of them is Cardano, and in this guide you will find what is Cardano and ADA in easy terms. Key […]

What is Cardano (ADA)? A Beginner’s Guide

Ethereum being the go-to smart contract network doesn’t mean it is perfect. In fact, it has so many problems that there are a host of alternatives to Ethereum, each aiming to improve the concept. One of them is Cardano, and in this guide you will find what is Cardano and ADA in easy terms.

Key Takeaways

  • Cardano is a smart contract platform working by the principle of a decentralized world computer;
  • ADA is a cryptocurrency native to the Cardano platform. It is needed to transfer value within this network and secure it in a Proof-of-Stake algorithm;
  • Cardano is still a work in progress. The next stages of completing the network will further decentralize the governance and enable more applications to be built.

What is Cardano?

Cardano logo
Source: Wikimedia Commons

Cardano is an open-source smart contract platform. Since smart contracts are self-executing programs that work when certain conditions are met, Cardano can be thought of as a decentralized global computing network.
Even though it is decentralized, the transactions need to be checked and approved, and blockchains use the consensus of nodes for this purpose. Unlike Namecoin or Ethereum, Cardano is secured with a Proof-of-Stake consensus algorithm specification called Ouroboros.

Ouroboros

In Ouroboros, transactions are checked and secured by stake pools. Any ADA holder can participate in one by delegating an ADA wallet, making it accessible and decentralized.
Ouroboros uses a combination of random selection and prioritization of the largest stakes. The more a staking pool has locked, the higher the chances of producing a new block and reaping rewards, but it is never guaranteed.
The accounting periods, which last five days, are called epochs. At the start of each epoch, a snapshot is taken, so the delegated stake won’t start earning yield immediately.
Like any other PoS algorithm, Ouroboros is more energy and cost-efficient than Proof-of-Work algorithms that use mining.

Architecture

Cardano architecture
Source: Cardano

The Cardano software is highly modular: a single client has a complex structure. The most important components of it are the node, command line interface (CLI), Daedalus wallet, and database synchronization.
The node software communicates with other nodes in the network, as well as with other software on the computer. This can include wallets, explorers and more data sources for the blockchain.
The transactions are queried, signed and sent by the CLI tool. It communicates with the node software to broadcast transactions to the blockchain.
Daedalus is a full-node wallet that consists of both frontend and backend. Users’ ADA is managed with this module.
Finally, the database sync is a module that helps query historical information from the blockchain. This information is separated from the nodes to keep blockchain lightweight and is accessible through a Structured Query Language (SQL) database.

Programming Languages

Cardano itself uses a special functional programming language called Haskell. With it, programming using pure functions is possible, and it has extensive testing and simulation capabilities.
Smart contracts on Cardano are written in Plutus, which is based on Haskell. With a domain specific language (DSL) for Plutus called Marlowe, it is possible to write financial contracts, which opens up capabilities for native Cardano tokens.

Cardano’s History and Team

Cardano is one of the most well-researched blockchains out there. The developers build on peer-reviewed research, and there is no single white-paper for the platform.
One of the key contributors to the research and development of Cardano is Charles Hoskinson. After having taken key roles in the Bitcoin Association and the foundation of Ethereum, he founded Input Output Hong Kong (IOHK) in 2015.
Another key contributor is Jeremy Wood, co-founder and Chief Strategy Officer at IOHK. With Emurgo Co., founded in 2017, the two companies lead the development of Cardano.
Last but not least, there is a non-profit organization called Cardano Foundation. It promotes the use of the Cardano Protocol, as well as protects intellectual property pertaining to it.
The mainnet launch and the start of Byron era happened in September 2017. The second era called Shelley started in July 2020 and introduced the current staking rules.
At the time of writing, Cardano is already in the third era dubbed Goguen, with two more to come.
The next eras are called Basho and Voltaire and will improve scalability and governance respectively. Once Basho rolls out, sidechains and sharding will become possible; Voltaire improvements are going to include an on-chain treasury.

What is Cardano Coin ADA?

As we have previously mentioned, there is a native cryptocurrency enabling some of the most important functionalities of Cardano, called ADA. Like the eras and the network itself, it takes its name after a famed mathematician, Ada Lovelace.
The initial distribution prior to the mainnet launch was held from September 2015 to January 2017. Instead of going for the ICO on Ethereum, the Cardano Foundation distributed vouchers that were redeemable in the Daedalus wallet.
25.9 billion ADA were distributed in the public token sale, and 5.2 billion was allocated to IOHK (2.46B), Emurgo (2.07B) and the Foundation (648M). The supply is coded to inflate at a decreasing rate until it hits the 45 billion mark.
Even though a transaction in Cardano can be deemed complete once it is included in a block, the best practice is to wait for 10 or even 15-30 blocks. With a block time of up to 20 seconds, it means waiting for up to 10 minutes for good measure.
Cardano devs are taking a slow approach to increase the capacity of the network: in anticipation of smart contracts, they bumped the block size up to 72KB. At the current specs, Cardano potentially can process up to 250 transactions per second (TPS). 
With the network activity as it is now, the actual TPS is closer to 2. To scale for more transactions going forward, Cardano developers are working on layer-two scaling solutions: one of them is Hydra.

What is ADA Used For?

Now that you know what Cardano and ADA are, what is their use case? Check out the uses of ADA explained:

  • Transacting within the Cardano network. At the time of writing, the fees make it more attractive than competitors ($0.29 median fee);
  • Staking. By design, staking ADA is as easy as to delegate one’s coins to a staking pool. The yield comes up to 5.94%;
  • With the smart contract functionality rolling out, users are already stocking up on ADA. Very soon, it will be possible to trade ADA and tokens on DEXs and spend it in dApps.

Comparison with Similar Projects

The most obvious comparison is Cardano vs Ethereum. For the time being, the most obvious difference between the two is the consensus algorithm, with Cardano’s being more efficient.
There are other “Ethereum killers” that also use Proof-of-Stake. One of them is Binance Smart Chain, which is closer to Ethereum in its structure and does not have Cardano’s modularity.
A blockchain that comes close to doing what Cardano can do is Tezos: it also has a modular architecture and utilizes a Delegated Proof-of-Stake. Since it supported smart contracts on launch, it has more established dApps and token contracts than Cardano.

What is Cardano criticised for?

Proof-of-Stake algorithms have always been criticized for being less secure and more centralized than Proof-of-Work.
Back in 2018, Ethereum’s co-creator Vitalik Buterin argued that there are several attack vectors unaccounted for in Cardano’s algorithm. Even though at the time the developers admitted the vulnerability exists, Cardano has never been attacked by bad actors.
During the Byron era, the majority of nodes were controlled by the three companies contributing to Cardano. Two eras later, this is no longer the case but nonetheless, the nature of Proof-of-Stake implies the concentration of wealth.

Partnerships and Future Plans

What is Cardano’s future? As it was already mentioned, there are two more eras currently in development, as well as the finalization of the current era.
These global updates have no set date as of yet but in the closer future, Emurgo is going to develop SDKs for dApp development. Blockchain software developer Five Binaries is going to assist with the development of its first phase.

Cardano on Social Media


Crypto influencer Lady of Crypto is either joking or legitimately confused about the reasons ADA is on a roll. The “Sundae” in the tweet does not refer to the dessert: SundaeSwap is the first DEX to launch on Cardano.


ADA holders are already speculating about the future features and their release dates. As sweet as it sounds, it’s better to wait for an official announcement.


Crypto media outlet Decrypt shared the Cardano news that fueled its current rally. In addition to SundaeSwap, there is also a Metaverse-oriented project Pavia.io set to launch soon.

What is the Best ADA Wallet?

Now that you have seen Cardano and ADA explained, you might want to get some practical advice.
In addition to the full node wallet Daedalus, there is a mobile wallet Yoroi by Emurgo, designed specifically for Cardano. However, you can use a single wallet for multiple currencies as well.
As a major cryptocurrency (currently 5th by market capitalization), ADA is supported by almost all multi-coin wallets. We recommend Exodus because you can stake and exchange ADA with ChangeHero right in your wallet.
If you value security, hardware wallets are the way to go. Trezor devices have the best reputation for a reason, and the Trezor Suite client lets you manage and swap your cryptocurrencies.

How to Exchange ADA on ChangeHero?

How do you get Cardano crypto? Quickly and easily on ChangeHero! Check the instruction how to buy ADA explained below:

  1. Choose the currencies on the home page, amounts and the type of exchange. Provide your wallet address in the next step and check the amounts;
  2. Double-check the provided information, read and accept the Terms of Use and Privacy Policy;
  3. Send in a single transaction the sum of cryptocurrency you will be exchanging. Fixed Rate transactions have a 15-minute limit;
  4. And now, relax! We are doing all the work: checking the incoming transaction and doing the exchange as soon as it arrives;
  5. As soon as the exchange has been processed, your ADA are on the way to your wallet. Your feedback is always welcome!

Customer support is available 24/7 in chat on our website or through the email: [email protected].

Conclusion

We hope you have a clear understanding to what is Cardano after reading our guide. ADA holders have high expectations to the first dApps to launch on the platform, which is reflected in the price action.
If you enjoyed this article, you can find more guides, predictions and crypto news coverage in our blog. And don’t forget to subscribe to ChangeHero on social media: Twitter, Facebook, Reddit and Telegram.

Frequently Asked Questions

[sc_fs_multi_faq headline-0=”h4″ question-0=”What is Cardano?” answer-0=”Cardano is an open-source smart contract platform. It works as a decentralized computer and can execute decentralized applications (dApps).” image-0=”” headline-1=”h4″ question-1=”What is ADA?” answer-1=”ADA is a native cryptocurrency of Cardano. It is used for transferring value between users and staking to secure the network.” image-1=”” headline-2=”h4″ question-2=”What is Cardano used for?” answer-2=”Cardano is used for building dApps like decentralized exchanges and multiverse applications. The ADA cryptocurrency can be staked or used for payments.” image-2=”” headline-3=”h4″ question-3=”Is Cardano better than Ethereum?” answer-3=”There is no certain answer to this question. The Proof-of-Stake consensus algorithm Cardano uses is more efficient, but it has been criticized for being less secure than Ethereum’s Proof-of-Work.” image-3=”” headline-4=”h4″ question-4=”What is the best place to buy Cardano?” answer-4=”You can buy Cardano by exchanging any of 100+ supported cryptocurrencies on ChangeHero. It will not require a login or authorization, and will be finished in mere minutes.” image-4=”” count=”5″ html=”true” css_class=””]


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Author: changehero
January 12, 2022

The immutability of blockchain is an asset for tracking supply chains, which is how VeChain came to be. What is VeChain and how does it work? Find all things VeChain explained in our guide! Key Takeaways VeChainThor is a blockchain that serves as a foundation for VeChain ecosystem and its main cryptocurrency is VET; The […]

What is VeChain and VeChainThor? A Beginner’s Guide

The immutability of blockchain is an asset for tracking supply chains, which is how VeChain came to be. What is VeChain and how does it work? Find all things VeChain explained in our guide!

Key Takeaways

  • VeChainThor is a blockchain that serves as a foundation for VeChain ecosystem and its main cryptocurrency is VET;
  • The main use case for VeChain is supply chain management, and the project intends to solve the problems of transparency and reliability of tracking;
  • VeChain is best known for a large number of partnerships with enterprises like Walmart and Bauer, spanning across healthcare, retail and luxury goods, agriculture and more.

What Is VeChain?

VeChain is a supply-chain platform that is powered by blockchain. Its main applications are in supply chain management, as well as in the Internet of Things.

Layers on VeChain platform
Source: VeChain

The blockchain that supports the VeChain platform is called Thor, so VeChainThor is the blockchain level of the whole ecosystem. There are several layers to the VeChain ecosystem:

VeChainThor Blockchain

The unique consensus mechanism that VeChainThor uses is called Proof-of-Authority (PoA), which is a spin on Proof-of-Stake. The chain is secured by masternodes which passed “know-your-customer\business” authorization.
Authorization in PoA takes precedence over the usual rules for PoS. The validators do not compete with each other for a chance to mine a block, they are assigned at random.
Authority Masternodes are responsible for maintaining the blockchain and producing blocks. Any user can run an Economic Node for voting rights and occasional rewards from the VeChain foundation.

IoT Layer

This layer of the system includes all the firmware: RFID chips, identity devices VeKeys and so on. It is mostly used by companies that use supply chain solutions and add these devices to the products.

Infrastructure Layer

This layer includes all protocols and infrastructure built on top of VeChainThor. It can be used by both VeChain developers and independent parties.
There are APIs and developer kits available for those who want to develop VeChain-compatible wallets or employ smart contracts. Most of the apps that can use the VeChain platform rely on this layer for functionality.

Application Layer

Finally, using the tools from the infrastructure layer, developers and users can build applications for various purposes: dApps, tokens, research tools.
Many of these apps can be found and accessed on VeChain World, the dApp hub for the platform. Those with a stake in VeChain will be interested in the VeChain Portal, where they can manage masternodes and vote.

VeChain History and Team

The project was started in 2015 by Sunny Lu and Jay Zhang, who had worked for Louis Vuitton China and Deloitte respectively. Both of them were well familiar with the pains of supply chain management, particularly, lack of transparency.
VeChain received $1.5 billion in backing from prominent investors like BMW and Groupe Renault. They also conducted an ICO in 2017, selling 86,716,263,400 VEN Ethereum tokens at about $0.0007 a piece.
The genesis block of the mainnet was mined in June 2018, and VEN were converted into VET at a 1:100 ratio.
The project’s team now includes dozens of contributors, mainly operating from Singapore.

What Is VET?

VeChain is different from other supply chain blockchain platforms in that it utilizes cryptocurrencies. What is VeChainThor native currency and how to use it?
Instead of one coin, VeChain Thor uses two different native tokens, VET and VTHO.
VET is used mainly for value transfer. A stake in VET is also a requirement for running a node.
Holding VET generates VTHO, a gas token which is used for paying the transaction fees.
Separating main and gas tokens helps to keep transaction fees resistant to volatility.

What Is VET Used For?

The VeChainThor blockchain can serve as home to a variety of applications. They can be monetized with the help of VET tokens.
To track supply chains, VeChain is used by Walmart China, Bayer and local goods from Ongnuid Banner, Inner Mongolia, China. Consumers can scan codes to get data on the source and authenticity of the product.
What else is VeChainThor supporting? For example, Jur Platform uses VeChain blockchain in arbitrage and issues JUR tokens with the help of VET. SafeHaven’s app Inheriti is pretty much the same but for inheritance.
And, of course, as is often the case with many blockchains today, there are non-fungible tokens. For VeChain users, the World of V platform offers exclusive art deals and drops.

What Is VeChain’s Competition?

Of course, VeChain is not a unique project to take on supply chains. There is Waltonchain which itself is an Ethereum token, so on that platform the transactions and actual tracking are separate.
In the IoT sphere, VeChain faces serious competition from IOTA. The latter is more focused on the IoT use case so its structure is not of a blockchain but a decentralized network.

What Is VeChainThor Criticized For?

In December 2020, the buyback address of VeChain Foundation was hacked to a loss of 1.1 billion VET ($6.5 million at the time). While the consequences were more or less mitigated, it certainly cast a serious doubt on the degree of decentralization of the platform. 
Another source of reputation damage is scams posing as official events, and VeChain has been a victim of those.

VeChain Partnerships and Future Plans

VeChain is known for its massive roster of partners utilizing the blockchain. Just a few of them are:

  • Vape manufacturer PuffBar, to combat counterfeit and distribution to minors;
  • China Animal Health and Food Safety Alliance (CAFA), as a blockchain service provider to more than 130 members;
  • Mediterranean Hospital of Cyprus, to track COVID-19 vaccination of health workers;
  • Bayer China, to track drug distribution and certify authenticity;
  • Walmart China, to improve food safety and quality.

At the very end of 2021, VeChain news reported a new strategic partnership with Schneider Electric.
Like in other open-source (and partially open-source) blockchain platforms, developers submit improvement proposals for review and implementation. So what is VeChainThor’s future?
With VeUSD, the first USD-pegged stablecoin on VeChain Thor, the scope of use cases is set to expand into decentralized finance.
Unlike other businesses, like centralized exchanges, which relied on cryptocurrencies, that got banned there, VeChain’s position is pretty secure. In fact, they are working with the local government of Inner Mongolia, as previously mentioned.

Twitter Posts


User Crypto Frog posted a video showing off the tracking system by VeChain in real time. The person in the video scanned a tag on the product with an app, getting exhaustive information in return in a few seconds.


Trader 0xd0n is with the VeFam in their VeChain price prediction. They believe that the current setback is only a preparation for a bull run ahead.


Another community member, eisenreich shared more news about VeChain partnerships. Sustainability is more than a futureproof business model, it also includes consideration for the environmental impact.

Which Wallet to Choose for VET?

VET can be stored in most popular multi-coin wallets. There is an official wallet readily available at the project’s website, too.
If you want to store and stake VET, pick the Exodus wallet! It has the option to swap coins and tokens right in the application, powered by ChangeHero.
For safer storage, you can choose Ledger hardware wallet but remember, swaps and staking can only be done in a hot wallet.

How to exchange VET?

Where to buy VET crypto? For your convenience, VeChain tokens can be swapped on ChangeHero in five easy steps:

  1. Choose the currencies on the home page, amounts and the type of exchange. Provide your wallet address in the next step and check the amounts;
  2. Double-check the provided information, read and accept the Terms of Use and Privacy Policy;
  3. Send in a single transaction the sum of cryptocurrency you will be exchanging. Fixed Rate transactions have a 15-minute limit;
  4. And now, relax! We are doing all the work: checking the incoming transaction and doing the exchange as soon as it arrives;
  5. As soon as the exchange has been processed, your VET are on the way to your wallet. Your feedback is always welcome!

Customer support is available 24/7 in chat on our website or through the email: [email protected].

Conclusion

The VeChain ecosystem is constantly growing and shows no signs of slowing down. The use case which helps both consumers and businesses basically make the platform future-proof and reliably viable.
If you enjoyed this article, you can find more crypto coverage in our blog. And don’t forget to subscribe to ChangeHero on social media: Twitter, Facebook, Reddit and Telegram.

FAQ

[sc_fs_multi_faq headline-0=”h4″ question-0=”What is VeChain?” answer-0=”VeChain refers to the blockchain platform developed by the company with the same name. It offers solutions for supply chain management and tracking.” image-0=”” headline-1=”h4″ question-1=”What is VeChainThor?” answer-1=”VeChain Thor is the blockchain the VeChain platform uses to support applications and verify supply chain data.” image-1=”” headline-2=”h4″ question-2=”What is VeChain all time high?” answer-2=”VET reached its all-time high of $0.2782 on April 19, 2021.” image-2=”” headline-3=”h4″ question-3=”What is VeChain coin used for?” answer-3=”VET, the main VeChain token, can be used in applications on the VeChain platform. It can also be staked for passive income and voting rights.” image-3=”” headline-4=”h4″ question-4=”Can VET be staked?” answer-4=”Proof-of-Authority, the consensus algorithm in VeChainThor, requires all validators to be authorized before they can stake and earn VET.” image-4=”” count=”5″ html=”true” css_class=””]


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Author: changehero
December 29, 2021

2021 will go down in the history of crypto thanks to the largest bull run to date and recognition of Bitcoin as legal tender. This year has also been big for us, so in this article we will recap the ChangeHero’s achievements of 2021. Key Takeaways Some of the ChangeHero’s achievements are best illustrated by […]

ChangeHero’s Achievements in 2021

2021 will go down in the history of crypto thanks to the largest bull run to date and recognition of Bitcoin as legal tender. This year has also been big for us, so in this article we will recap the ChangeHero’s achievements of 2021.

Key Takeaways

  • Some of the ChangeHero’s achievements are best illustrated by the numbers: 96 new cryptocurrencies, growth of traffic by 490% and number of transactions by 164%;
  • ChangeHero was mentioned in the reviews by CryptoPotato, CoinCheckup, BeinCrypto, Bitcoinist and other popular media outlets;
  • Our roadmap for 2022 includes improvements to stability and performance of the platform, as well as a mobile application! The marketing team has more events and collaborations in store, and an ambassador program in the making.

New Currencies on ChangeHero in 2021

At the start of 2021, we had 88 active coins and tokens on our platform. Already impressive, but stopping at this was not an option.
Over the course of the year, we have added 96 more cryptocurrencies, bringing this number all the way up to 184 supported coins and tokens. More than doubling the number of integrated currencies is one of the biggest ChangeHero’s achievements made by the development team.

Social Media Collaborations

Many communities enjoyed our educational content and shared it. Among them are Zcash, Verge Currency, Theta, Ravencoin communities, and more!
The Shiba Inu community, which is known for being one of the largest crypto families, has warmly welcomed our collaboration with some of Shiba Army’s largest influencers: @ShibaMovement, @ShibaAustralia, @ShibArmyCommand. On our side, we provided them with the discount on all SHIB exchanges for two weeks in a row due to high demand!
Did you know that there is an ongoing Twitter collaboration with our long-time partners CoolBit X? Keep an eye on our Twitter page for more upcoming events: for one, there will be a giveaway of 10 co-branded and 3 Pro CoolWallet devices!

Partnerships in 2021

In addition to ChangeHero’s achievements with media partners, we have acquired a couple of long-term collaborations that we would like to highlight.

CoinShuffle

In February, we were welcomed into the CoinShuffle family — the collection of rigorously reviewed exchanges with the best fixed rates. This partnership is yet another testament to the best crypto exchange experience provided by yours truly.

SwapZone

And in September, we joined the ever-growing list of SwapZone’s partners. Sorting by the best rates, hundreds of currencies and independent best crypto exchange reviews — they are a one-stop for all crypto swapping needs.

2021 ChangeHero Stats

We can keep writing about ChangeHero’s achievements in length, but let’s let the numbers talk, too!
Over the year, more and more users have visited our main page daily: in 2021 there were 490% more visits than the last year.
Our social pages also became even more lively: in 2020, there were 2,271 followers on our Twitter page and less than a hundred users in the Telegram channel. Now, there are 6,648 Twitter followers and 4.3 thousand Telegram channel members.
The number of transactions made this year also increased significantly. We have processed 164% more transactions in comparison to 2020.
During 2021 so far, our users have left 82 ChangeHero reviews on TrustPilot. At the moment, our rating is “Excellent” with a 4.7/5 score.

Media about ChangeHero

Our team enjoyed a lot of media attention to the ChangeHero’s achievements this year. First, we were featured in CoinCheckup’s list of fast and secure crypto exchanges.
Popular media outlets like CryptoPotato and BeinCrypto have published an extensive ChangeHero review each. Another ChangeHero review was also published on Invezz, highlighting security of the service and ease of use.
Most recently, our platform was highlighted on Think Maverick blog in their list of the best crypto exchange platforms. Another outlet that featured ChangeHero in a similar list and tested it out is Bitcoinist.

What to Expect in 2022?

No matter how many ChangeHero’s achievements there were in 2021, in 2022 we are dedicated to keep going and achieve more.
Of course, there are already plenty of plans for 2022 in our team. Some of them we cannot tell you just yet, but some plans we can tease to keep you looking forward to.
The marketing team is going to keep doing giveaways and collaborations with influencers even in early 2022. Make sure you’re following our social media!
The development team is going to continue improving the performance of our platform. The big feature you can already look forward to in 2022 is a mobile application for iOS and Android. Stay tuned for more news!
Don’t hesitate to let us know what you would like to see implemented or improved! Every ChangeHero review helps us become better for you.

Conclusion

None of the ChangeHero’s achievements could be possible without the support of our users and community. We look forward to providing the best crypto exchange experience possible in 2022 as well.
Our team is also active in social media, where we feature educational content, updates and campaigns. You can join in, too, by giving us a follow on Twitter, Facebook, Reddit and Telegram.


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