• Flare has completed a live demonstration of their new interoperability functionality, allowing users to trustlessly purchase an NFT on the network using tokens from a different blockchain.
• The demo was performed on Flare’s canary network, Songbird, with the purchase made using DOGE and XRP tokens.
• This highlights Flare’s ability to provide secure, decentralized data and unlock web3 utility for legacy tokens.
Flare Unveils Interoperability Functionality
Flare has just demonstrated their new interoperability functionality in a live beta version. Using two core protocols – State Connector and Flare Time Series Oracle (FTSO), an NFT was trustlessly purchased with the transaction taking place on a different chain using a different token. The demo was performed on Flare’s canary network, Songbird, with the purchase made using DOGE and XRP tokens.
State Connector Protocols Enable Secure Data
Flare’s State Connector protocols enable information to be securely used in EVM-based smart contracts on Flare chains both from other blockchains and the internet. This proves that a transaction has been confirmed on a non-Flare chain and simultaneously verifies the correct payment reference was included.
FTSO Delivers Decentralized Price Feeds
The FTSO protocol delivers highly decentralized price and data feeds to dapps on Flare without relying on centralized providers to bring this data onto the chain. During this demonstration it provided the live updating price of the NFT in the currency of the other chain being used for payment.
EVM Contracts Deployed On Network
As Flare is an EVM-based blockchain, everything that can be achieved on Ethereum and other EVM chains can also be performed on Flare – including standard ERC721 contracts written in Solidity which were deployed during this demo along with methods to integrate with FTSO and State Connector protocols.
Unlock Web3 Utility For Legacy Tokens
The demonstration highlighted how Flare can unlock web3 utility for legacy tokens enabling them to be used trustlessly in dapps on its network as well as providing more types of secure, decentralized data which could power new applications and use cases for developers across multiple chains through one deployment.. Hugo Philion said “We are excited to see what other applications engineers can develop harnessing the capabilities of our native interoperability protocols“.
• Decentraland is holding an Emote Contest ahead of its second annual Metaverse Fashion Week.
• Participants can submit up to three emotes for a chance to win MANA and be featured in the Community Fashion Show.
• Shibu, Isa Souza Gomes, and PeanutButta are the judges who will evaluate the emotes based on fluidity, movement, creativity, and originality.
Decentraland Holds Emote Contest
Decentraland has announced it is holding an emote contest ahead of its second annual Metaverse Fashion Week. Players can participate in the event to win fun and exciting awards. The Metaverse Fashion Week 2023 is coming back to Decentraland with virtual runway shows, after parties, shopping and panel talks.
How To Participate
Starting February 16, participants can submit up to three emotes until March 20th for a chance to win MANA and be featured in the Community Fashion Show. All submissions must be approved and published in the DCL Marketplace before the contest deadline. They should also be related to Metaverse Fashion Week 2023 and intended for the runway. When submitting their creations contestants must share their email address with Decentraland so they can contact them if their submission has won.
The judging panel consists of Shibu (Art Director at Decentraland), Isa Souza Gomes (3D animator at Decentraland) and PeanutButta (Community Manager at Decentraland). The judges will evaluate each submission based on fluidity, movement, creativity and originality before announcing the winners on April 3rd 2021.
The first-place winning emote will feature in the Community Fashion Show alongside 800 MANA rewards for its creator while second through fifth place winning entries will receive 600 MANA each as a reward for their efforts.
This emote contest is open to everyone giving every participant an opportunity to showcase their creativity as well as earn some rewards from it! So don’t miss out on this amazing opportunity!
• Shiba Inu’s (SHIB) lead developer, Shytoshi Kusama, has distanced himself from the copycat token Paw (PAW).
• Kusama shared a crypto donation link to support relief efforts in Turkey and Syria.
• The highly-anticipated Layer-2 solution for Shiba Inu, Shibarium, still hasn’t had an official launch date.
Shiba Inu’s (SHIB) Main Developer Clears Up New Token Rumors
Shytoshi Kusama, lead developer of the cryptocurrency project Shiba Inu (SHIB), recently cleared up rumors surrounding a new token, Paw (PAW). He officially distanced himself from the copycat token and warned the SHIB Army about “wolves in Shib’s clothing”.
Kusama Shares Crypto Donation Details for Turkey and Syria
Following the devastating earthquake in Kahramanmaras, Turkey and Syria have been struggling to cope with medical aid needs and emergency accommodation. To help out those in need, Kusama shared a donation link that supports BEP20, Avalanche, and ERC-20 transfers on Ethereum’s network—which is suitable for SHIB transfers as well.
DefiKraken Falsely Endorses Unrelated Token
At one point during this saga DefiKraken falsely endorsed an unrelated token as part of Shiba Inu’s ecosystem—underscoring the need to be careful when dealing with such matters.
Launch Date of Shibarium Remains Uncertain
As many were expecting a Valentine’s Day launch of the long awaited Layer-2 solution for Shiba Inu—known as Shibarium—it seems that it was only rumor or speculation at best. Henceforth, members of the SHIB Army are being asked to remain patient until an official announcement is made by Kusama or other developers associated with SHIB.
The community should not let disappointment overshadow their celebration of love and romance on Valentine’s Day despite any delays concerning SHIB projects. With cautionary messages coming directly from its developers like Kusama himself—the SHIB Army can keep their eyes open while standing strong against any malicious attempts to disrupt them.
• Ethereum (ETH) has experienced a slow start to February after its January rally.
• Technical indicators display mixed results and the ETH price could rally to $1,800 or decline to $1,500.
• If the bulls can drive the price above $1,680, there is a possibility of further upward momentum towards $2,000; otherwise, the price may drop below $1,500.
Overview of Ethereum’s Performance in February
Ethereum (ETH) has experienced a slow start to February after its January rally. Vertical rallies – rapid price increases accompanied by high trading volume – are not typically sustainable, so slowing down after a pump is generally seen as a positive sign for the market. Currently, ETH is trading close to the resistance level of $1,680 which could lead to an upward rally or downward decline in its price depending on how it performs against this level.
Analysis of Ethereum Chart
The 20-day exponential moving average (EMA), currently at $1,586 at the time of writing favors buyers. However, relative strength index (RSI) indicates that bulls may be losing grip on ETH as negative divergence appears on the indicator. For bulls to maintain control over ETH’s performance they need to drive its price above $1,680.
Potential Outcomes for Ethereum Price
If bulls manage to push it above this level then ETH could reach up to a potential resistance point of $1,800 and if it holds out above newly acquired support point at $1,680 then there is chance for further upwards momentum towards reaching even higher than that – possibly hitting $2,000 mark. On other hand if bears manage overcome 20-day EMA then there is possibility that ETH’s price will tumble down below critical support point at 1$500 and might even go as low as 1$352 if current support fails as well.
Four Hour Chart Analysis
On four hour chart bears have pushed prices below 20-EMA which may signal potential retreat for bulls and indicate limited support from 50-simple moving average (SMA).