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Google Cloud operates an audit node on the Solana blockchain… what does that mean?

Google Cloud operates an audit node on the Solana blockchain

Google Cloud will run an auditor on Blockchain Solana, according to the announcement of Google Cloud Services.

The verification tool will soon add new features that will allow Solana Developers (SOL) to integrate with the cloud services provided by Google.

After news broke at the end of the week, the SOL digital currency rose 12% to about $36.80.

The SOL cryptocurrency then returned to trade at $31 at the time of this article.

Google Cloud announced on Twitter that along with the verification tool, the tech giant is also working to add the blockchain node engine to the Solana blockchain in 2023.

Blockchain Node Engine is a fully managed node hosting service that already supports ethereum blockchain.

Nalin Metall, Director of Products at Google, stated at the Solana Breakpoint Conference in Lisbon:

We want to make it one-click to run the Solana knot in a cost-effective way.

She told Google that she had also started a move that would make it easier for Solana Developers ecosystem to access historical data by indexing Solana data and adding it to the BigQuery data repository.

According to Metal, the feature will be launched in the first quarter of 2023.

Mittal added:

Selected startups in the Solana ecosystem were selected to experiment with their credits program.

There are up to $100,000 in cloud credits available for applicants.

Google Cloud introduced the Blockchain Node Engine in late October to help web developers 3 build and deploy new products on blockchain-based platforms.

Web 3.0 companies that feel the need for a custom contract can now use Google Cloud’s blockchain node engine to migrate transactions, deploy smart contracts, read or write blockchain data with reliability and security performance expected from Google Cloud account and network framework.

The Google branch has moved to provide its services on blockchain Solana in order to facilitate the work of developers of web services and products 3.0, aiming “Google” to remain at the forefront and prepare for the reception of the wave of users for web products and services. 3.0

Urgent: A large digital currency is preparing for a massive explosion.. Thanks to Google

Promising currency with bustling heights Solana has revealed a new partnership with Google, smartphones and a Web3 store in Breakpoint.

Solana has made a series of launch announcements as he prepares to take off in the mainstream, which includes the launch of smartphones, decentralized app stores (DApp) and a partnership with Google Cloud, among others.

The four-day Solana Breakpoint Conference from November 4 to November 7 attracted 13,000 people in only one of the four venues held simultaneously.

Prices may be reflected

Analysts say the SOL price has been on a downward trend for three months, but the flow of news and recent events may lead to a reversal.

It is necessary to highlight that Solana currently has a market value of $11.5 billion at the nominal price level of $32, making it the seventh largest digital currency when excluding stablecoins.

Despite its size, SOL’s performance to date reflects a lackluster 82% decline, while its broader global market value fell 56%.

It has been on a steady downward trend over the past three months, but some traders believe it may have reached the bottom at $26.80 on October 21.

Recently, there has been a lot of speculation about the causes of underperformance and some analysts point to competition from the Aptos network.

The downward trend accelerated on October 11 after a leading decentralized funding application on Solana’s network suffered a $116 million breakthrough.

A potential promising partnership was announced on November 2 after Instagram’s integrated support for solana-based non-fungal symbols (NFTs).

This allows users to create, sell and display digital arts and their favorite collectibles. SOL immediately interacted with the 5.7% pump in 15 minutes but recovered the entire motion within the next hour.

Excessive optimism

The futures premium index (base rate) should operate between 4% to 8% to compensate traders for “securing” funds until the expiry of the contract.

Thus, levels below 2% are downward, while figures above 10% indicate excessive optimism.

Data from Laevitas shows Solana futures have been trading down for the past 30 days, meaning the futures price is lower than normal spot exchanges.

Solana Now

Solana’s currency rose during Sunday trading in the range of 5% while jumping 15% in a week as it reached the highest levels of $36 for the code, while rising 10% in thirty days.

However, Solana, which currently has a market value of $ 13 billion, has declined by 80% since the beginning of the year, while rising by 20% in 60 days and by 15% in 90 days.

more details

Vibhu Norby, CEO and founder of Solana Spaces unveiled the Solana Store in Miami, showing a rambling video of people inspecting the store.

The CEO and founder of Solana Spaces said, “Now anyone anywhere can create their own Solana store.”

While explaining the process of building the Solana Store, Norby announced the launch of GeoNFTs – a non-fungal code (NFT) app – which allows users to geo-mark an area of their city.

“If you have GeoNFT, you can replace it 1 for 1 with the exclusive rights to open a Solana store in that area,” Norby said.

With GeoNFTs, Solana aims to empower individual entrepreneurs who want to get into the business.

smartphone

Solana smartphones are available for pre-order in early 2023, and Solana Mobile said while announcing the launch of its upcoming smartphones: “They are for people,” however, the company has yet to announce an official date for availability.

One of the hallmarks of Solana’s phone is its ability to safely store private keys to cryptocurrency portfolios.

Solana’s smartphone will be powered by a Qualcomm chipset that has an arm-based SoC, allowing for higher productivity.

Austin Federa | Breakpoint Lisbon

Web3

In preparation for Web3 disruption, Solana announced the launch of Solana App Store, during the conference, a Solana spokesperson highlighted the need for a good user experience in the Web3.

In support of this case, Solana’s DApp store promises to get rid of fees, revenues and fees. Furthermore, the company has confirmed with interested participants that orders will open in January 2023.

According to the news, Google Cloud will soon become a validation tool for Solana’s contract, and Google Cloud is working to create a verification tool for Solana to produce and validate blocks to participate in the network.

Google Cloud’s Blockchain Node Engine, which was first announced on October 27, will be shown in the Solana series from 2023, and integration will allow users to launch the custom Solana node into the cloud.

In addition, Google Cloud will catalogue Solana’s data and bring it to BigQuery – a fully managed data repository without servers – by next year, making it easier for Solana developers to access historical data.

The article does not express a recommendation or a nomination, but merely monitors market volatility, as trading in cryptocurrencies carries high risks including the risk of losing some or all of the investment amount, which is not entirely subject to bodies and markets.

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Google Cloud operates an audit node on the Solana blockchain… what does that mean?

Google Cloud operates an audit node on the Solana blockchain… what does that mean?

Google Cloud operates an audit node on the Solana blockchain… what does that mean?

Google Cloud operates an audit node on the Solana blockchain… what does that mean?

Google Cloud operates an audit node on the Solana blockchain… what does that mean?

Google Cloud operates an audit node on the Solana blockchain… what does that mean?

Google Cloud operates an audit node on the Solana blockchain… what does that mean?

Google Cloud operates an audit node on the Solana blockchain… what does that mean?

Google Cloud operates an audit node on the Solana blockchain… what does that mean?

Google Cloud operates an audit node on the Solana blockchain… what does that mean?

Google Cloud operates an audit node on the Solana blockchain… what does that mean?

Google Cloud operates an audit node on the Solana blockchain… what does that mean?

Google Cloud operates an audit node on the Solana blockchain… what does that mean?

Google Cloud operates an audit node on the Solana blockchain… what does that mean?

Google Cloud operates an audit node on the Solana blockchain… what does that mean?

Google Cloud operates an audit node on the Solana blockchain… what does that mean?

Google Cloud operates an audit node on the Solana blockchain… what does that mean?

Google Cloud operates an audit node on the Solana blockchain… what does that mean?

Google Cloud operates an audit node on the Solana blockchain… what does that mean?

Google Cloud operates an audit node on the Solana blockchain… what does that mean?

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Is playing cryptocurrencies worth your time and money

The lockdowns during Covid, when we spent a lot of time indoors, seems to have accelerated the game industry’s current rapid expansion.

Compared to 2019, £1.6 billion ($2.1 billion) more was spent on video games in the UK in 2020. People used video games as a form of indoor amusement during lockdowns, playing everything from Animal Crossing to Call of Duty.

It also wasn’t a passing trend. According to InvestGame research, the worldwide video game market expanded in 2021 as well. Private investments increased by more than three times in the first half of the year while public offers increased from $4.9 billion in the first half of 2020 to $17.1 billion in the first half of 2021.

Another trend identified by InvestGame in its research is the development of blockchain-based gaming.
Through the use of a non-fungible token (NFT) market or by allowing players to earn cryptocurrency incentives through gameplay, crypto games integrate the two technologies.

The use of cryptocurrency in the gaming sector is showing signs of success.
One of the most well-known cryptogames, Axie Infinity, has generated an astounding $1.2 billion in income.

128 blockchain gaming startups will get investments in the first quarter of 2022, which is a sign of the growing interest in and media coverage of the cryptocurrency gaming industry.
But it seems to be a competitive environment where participants and investors switch projects often.
Therefore, it’s becoming more crucial for gaming investors to comprehend the specifics of this industry.

But how do cryptogames operate?

Is playing cryptocurrencies worth your time and money

What is crypto gaming?

The centralization of traditional games prevents all things and experience (XP) earned from playing from being utilized in other games. Blockchain technology, which is used in cryptocurrency gambling, alters this. The usage of awards and products by players across various cryptocurrency gaming projects is now possible.

Players may also make money through cryptocurrency gambling. Players can engage in what is known as a “play-to-earn paradigm” in a number of different ways. Take Axie Infinity as an illustration. Axies are characters that players may purchase, level up, and then sell for more money. Additionally, players may engage in combat with their Axies to gain SLP and AXS, two cryptocurrency game tokens based on Ethereum.

This offers a completely new component to the market: the notion that gamers may earn cryptocurrency while playing games.

Three out of four players surveyed by Worldwide Asset Exchange said they hoped they could utilize their cash on different platforms, so this is a positive move. But are just players playing?

Is playing cryptocurrencies worth your time and money

Who is playing?

The number of NFT game users during the previous 30 days is tracked by Statista. The top three NFT games are Alien Worlds, Axie Infinity, and Splinterlands, with a combined monthly user base of over two million.

Despite a dearth of study on the demographics of cryptocurrency gaming, it is obvious that gamers are the primary target audience. According to crypto payments platform Triple A, 38% of cryptocurrency players are between the ages of 21 and 38, making millennials the biggest age group. 55% of millennial bitcoin owners were gamers prior to doing so.

22.6 million gamers in Asia-Pacific, a key region in this market, are cryptocurrency owners. 5.9 million gamers in Europe and 5.8 million in the Middle East and Africa came after this. Unexpectedly, North America has the fewest cryptocurrency players, with only just 3.3 million.

This information closely resembles the larger gaming market. According to Statista, Asia-Pacific nations lead the top five gaming markets in terms of revenue.

The CEO and creator of the blockchain game production studio 0xGames, which has produced a number of games, is Sergey Kopov. He thinks that the 3.24 billion gamers globally would show more interest in crypto gaming.

“Crypto games mostly attract not gamers, but individuals who want to earn money on this new buzz,” said Kopov to Currency.com. But this is only a passing phase. Crypto games will soon be engaging enough to compete with traditional games on the gaming field, allowing them to draw players in.

A center for cryptocurrency gambling has arisen in the Philippines. The Covid-19 outbreak severely damaged the nation’s economy, but some citizens discovered a brand-new source of income. A YouTube documentary showed how Filipinos were using Axie Infinity to make money, demonstrating that there is money to be gained by investing time in these sites.

The documentary also questioned the notion of cryptocurrency gamers. It included an older married couple, a mother, a fresh college graduate, a cab driver, and several other crypto players.

Is playing cryptocurrencies worth your time and money

Successful crypto games

Given that the game’s origins are in Asia, it is not surprising that Axie Infinity has gained popularity there. Vietnamese-born Trung Nguyen established the video game startup Sky Mavis, which unveiled the Ethereum-based game. Given that the firm had just just secured $152 million in venture investment from cryptocurrency investors in October 2021, Sky Mavis’ valuation as of December 2021 was a stunning slightly under $3 billion.

Despite the pricing, Alien Worlds, which has nearly twice as many monthly players as Axie Infinity and more than 1.16 million, is the most popular cryptocurrency game. The game’s co-founder, Saro McKenna, has a background in corporate finance and has spent ten years working there. McKenna is also an Oxford University MA graduate.

Axie Infinity is more widely played than Alien Worlds, but the in-game money tells a different tale. The Axie Infinity token (AXS) was trading at $16.13 as of June 27, 2022, down 14% over the previous 30-day period. It ranks fifth out of all gaming cryptocurrencies by market capitalization, below Decentraland and The Sandbox. Alien Worlds (TLM), at a price of just $0.02, is far cheaper than it.

With more than 604,000 monthly players, the blockchain card game Splinterlands is comfortably ranked third on Statista’s list. You may buy, trade, and level up cards in the game. Since he was ten years old, Matthew Rosen, the publisher’s creator and chief technology officer (also known as Splinterlands), has been making video games.

The card game’s token, called Splintershards (SPS), is now available for about $0.05. Despite having a greater price than TLM, its market capitalization is lower, and as a result, CoinMarketCap now puts it at position 408, whereas TLM is at position 291 in the ranking.

Is playing cryptocurrencies worth your time and money

How does crypto gaming work?

Many of the components seen in crypto alternatives are already present in traditional games. In-game money may be purchased using fiat cash, and players can also level up their characters and gather things. What then draws both gamers and investors to cryptocurrency gaming?

Ownership is one of the main drivers of the growth of crypto gaming. In contrast to conventional games, those that use blockchain technology grant players tenure over the items they earn. In-game things can be owned by players, traded, or even sold. The marketplace dynamic has drawn players, whether it is a Splinterlands creature card or a purple Axie with green thorns.

Players are drawn to gaming because it may be profitable. Pay-to-play models, where players must spend money to get the most out of a game, have drawn criticism in the past for several titles. Prior to cryptocurrency gaming, spending money would just enhance your experience, allowing you to level up more quickly, for example. The play-to-earn approach of cryptocurrency gaming accomplishes the exact opposite, allowing users to benefit from their initial investment in the form of cryptocurrency game coins. This has even made it possible for certain Filipino gamers to make a living.

What are the risks?

Crypto gaming has disadvantages despite its benefits. Some games are more impacted by access restrictions than others. For instance, in order to play Axie Infinity, a player must have three Axies. Since the cheapest Axies are roughly $100, you must spend at least $300 before you can begin earning. The ordinary player may be turned off by this high level of investment as the majority of conventional games do not cost more than $100.

You run the risk of losing your NFTs and tokens. This may occur if you attempt to transmit them to a wallet that is incompatible with the NFT kind or if you become a victim of fraud. This is not unheard of; in July, the creator of the cryptocurrency game Hedgie claimed to have lost more than $1 million in NFTs to fraud. Similar to this, Axie Infinity’s blockchain, Ronin, suffered a breach that resulted in the loss of more than $600 million from its holdings.

Compared to cryptocurrencies, there is an even greater danger for crypto games because operators typically are not required to follow regulations like anti-money laundering, which raises the possibility of fraud.

Players may experience financial losses in addition to hostile assaults due to volatility. Like non-gaming cryptocurrencies, crypto game tokens are subject to market fluctuations, although certain games include withdrawal restrictions. This implies that gamers might not have time to cut their losses if a cryptocurrency gaming coin, like AXS, drops in value (it is presently worth around half what it was on April 29, 2022, for example).

Combining two cutting-edge technologies also makes gambling, a serious problem to which both are prone, worse. Loot boxes, where players may pay to unlock a virtual box containing random goodies, are a recent addition to video games. Loot boxes are “structurally and psychologically similar to gambling,” according to a research. Loot boxes have been adopted by cryptogames as well. For instance, Splinterlands lets you purchase packs of undetermined cards. Health professionals worry that gambling has become a regular part of young people’s lives due to the millennial gaming user demographic, and that crypto gaming will only make this situation worse.

The future of crypto games

Investors want in on the booming demand for cryptocurrency games. Sky Mavis received $7.5 million in its initial round of fundraising thanks in part to Mark Cuban’s investment. Additionally, venture capital firms are joining in: Framework Ventures recently unveiled a $400 million fund for Web 3.0 games, while Andreessen Horowitz just announced a new $600 million fund.

Both Solana and Polygon have started investing in early-stage blockchain games that include decentralized financing (DeFi) into their platforms, showing that blockchain businesses are also interested in joining the bandwagon. The market for cryptocurrency gaming platforms may expand as more and more investors exert pressure on them.

According to a recent analysis by the investment company Drake Star Partners, this is already apparent. 128 cryptocurrency gaming firms received funding totaling $1.2 billion in only the first three months of 2022.

The blockchain gaming sector, however, suffered a severe setback in October 2021 when Steam, the largest PC game distributor in the world, stated it would not host blockchain-based games because it does not let products with real-world value on its platform. Cryptographic games may suffer greatly if Steam stops supporting them since they would lose access to a market that is the leader in its field and draws 62.6 million daily users.

Epic Games, the distributor, is employing a different strategy. Tim Sweeney, the CEO of Epic, stated that the company is glad to collaborate with early creators on their blockchain-based games even if it won’t be producing its own cryptocurrency games. Crypto games, according to the video game distributor, would need to adhere to financial regulations and have the proper age ratings. This might eliminate many of the dangers that crypto games face and provide Epic Games’ 31.3 million daily users access to the market.

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is now the world’s fourth largest cryptocurrency ATM hub

According to information provided by CoinATMRadar, an online analytics firm that tracks the total number of cryptocurrency ATMs worldwide, Australia surpassed El Salvador to fourth place as the world’s largest cryptocurrency ATM hub

The sudden shift came as Australia installed 99 cryptocurrency ATMs across the country in the fourth quarter of 2022.

At the time of writing, Australia has 216 cryptocurrency ATMs.

Not only Australia, but Poland has also outperformed El Salvador in terms of the number of cryptocurrency ATMs where it has been able to install 222 cryptocurrency devices.

The United States tops the list of countries with most cryptocurrency ATM installments, and its attitude towards cryptocurrencies has become more cautious as a result of past cryptocurrency-related problems.

Canada and Spain remained second and third respectively.

Overall, the total number of such machines worldwide reached an all-time high of 40,000.

Australia and cryptocurrencies:

Just a few weeks ago, Australia committed to establishing a framework for regulating and licensing cryptocurrency providers in 2023 as part of its aspiration to modernize its financial system.

According to the statement, one of the following actions that the Government will do is to develop appropriate storage and protection arrangements for consumer protection.

The country’s Treasury Department announced in August that it would prioritize arranging and clarifying the functioning of cryptocurrencies.

This requires disclosure of the features of all digital currencies in Australia, including tracking the type of cryptocurrency asset, its base code and any other technical feature.

The consultation document was published at the same time as a strategic plan for Australia’s payments system, which is due to be published in the first quarter of 2023.

The advisory paper also discusses a variety of cryptocurrency ecosystem components, such as digital portfolios, stablecoins and cryptocurrencies issued by central banks.

Responses to the document are open until 6 February 2023.

This also includes a study of the Australian Central Bank’s digital currency policy, which includes consideration of the economic, legal, regulatory and technical aspects of holding a digital currency for the Australian Central Bank.

The CBDC program is expected to be completed by the RBA by mid-2023.

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is now the world’s fourth largest cryptocurrency ATM hub

is now the world’s fourth largest cryptocurrency ATM hub