On January 27, Glassnodes’ data revealed that the Ethereum hashrate just reached a new all-time high – 1.11 PH/s (1.11 quadrillion hashes per second) at the moment – breaking its previous record of 1.08 PH/s. Hashrate is an indicator that presents computing power of the entire Ethereum network. The new record was set less than […]
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Cyber security is a relatively new concept in the digital asset space. Similarly, when blockchain technology came into the limelight, many bad actors manipulated networks for personal benefits. This makes it essential to secure the crypto space to ensure faster adoption and recognition. While many firms hope to improve cyber security, Certik is one of the most popular ones. After Yale professors found the company in 2018, it has continued to contribute to the community’s well-being and security. In this article, we will be looking at Certik crypto to understand what the project is all about.
Certik is a startup that prioritizes blockchain technology leveraging artificial intelligence to monitor blockchain protocols and smart contracts. Experts have emphasized the need to improve security, making it crucial to find technology capable of helping networks stay optimized and secure. It’s safe to state that the team behind the technology hopes to secure cyberspace.
Cyber security is the practice of protecting computers, networks, mobile devices from attacks. When a system is not well protected, it may be easily compromised by an external body. This makes it vital to keep blockchains well-protected to protect investments and ensure proper functioning.
One of the most important reasons for prioritizing cyber security is to keep networks safe from malicious attacks. Thanks to the growing numbers of malware, experts have to beef up security for the growth of the digital economy.
Another reason for improved security is the need to protect user information. User information is often confidential. However, when hackers gain access to this data, they may release it to the public or sell it. This makes it vital to protect the susceptible ones’ information to ensure that users are safe and protected.
Certik chain is a blockchain that leverages proof-of-stake for secure executions of applications, such as NFTs and DeFi applications. In 2019, Certik released the network after the news concerning the blockchain. To enhance the security of smart contracts, it utilizes the foundational verification platform at its core. The team behind the technology explained that with prioritized security, it hopes to maximize the potential of complex computing systems.
It is safe to note that there are three fundamental aspects of a blockchain: decentralized, scalability, and security. While many platforms have created means to ensure decentralization or even scalability, not many have prioritized security, which is fundamental to the platform’s growth.
To change the narrative, it has decided to focus on security. Without adequate security, even the best platforms can face challenges. When security has been prioritized, the platform enjoys expansion and growth. Similarly, developers may enjoy greater stability while programming because of its outlook on security.
Additionally, the team behind the tech assured users that they were in for the long term. And this means that they would provide security services to blockchains, which may also expand to other spheres of the digital world.
Smart contracts are programs that are often on blockchains. These sets of programs automatically execute commands or controls after the terms of a contract are met. Because these programs are self-executing, it is hard to manipulate networks or hack into systems.
Smart contracts are essentially a way to reduce intermediaries during the execution of a contract. Also, it may reduce malicious activities on the blockchain. Because a blockchain is expected to be very secure, it’s imperative to create a means for transparency.
On the Certik chain, smart contracts will have cryptography certificates to enhance security. Similarly, they may also check these proofs to prevent manipulation or compromise of any kind. However, contracts without a cryptography certificate would likely require a higher gas fee before execution.
Certik claims to prioritize security in all stages of a transaction. One of the key instruments for protocol verification is Certik Virtual Machine, which checks how correct the program’s implementation is. This assures no bugs during the implementation to aid functionality and speed. Additionally, programmers can also access software to create a smart contract using DeepSea. Experts believe that DeepSea assures a higher level of security because security is proved within the system.
There are different components of the Certik chain that aid the efficiency and functionality of the technology. These components are crucial for the smooth running of the process.
The business chain is the targeted network that requires the services. Also, the blockchain has to be compatible with smart contracts. The security oracle interface is a means to verify and scrutinize DeFi applications. After the scrutiny, if the result is non-satisfactory, it will be broadcasted for fulfillment.
This chain deals with managing and handling security-related aspects in the business chain. The system has numerous combinators that can solve different security issues. One of the essential kinds of a combinator is the oracle combinator. This focuses on fulfilling the general workload while ensuring transparency and decentralization. With this system in place, it can sieve the bad from the good, ensuring users enjoy improved security.
To ensure optimum security, it must communicate effectively with networks outside the chain. The cross-chain functionality will be built and handled by the community for decentralization. Similarly, the chain needs operators, contributing to the improvement of the community. When you want to be an operator, you may need to inform the community of your plans.
Certik is a startup founded by some Yale and Columbia University professors in 2018. It primarily focuses on securing the system by leveraging verification technology to scrutinize smart contracts and other protocols in a blockchain. Also, the technology has grown popular amongst developers, making it one of the most trusted security-focused companies.
The startup has some well-known investors, such as Binance Labs and NEO Global Capital. Certik’s primary goal is to ensure transparency and security, particularly in matters relating to blockchains. Because blockchains are relatively new in the system, it may be challenging to provide the right services to meet the needs of every user. Still, Certik believes that networks can benefit mainly from a secure network.
While Certik is presently focusing on blockchains, it hopes to diversify and provide helpful services to other aspects of the cyber world. Today, Certik has become a leader amongst other startups in facilitating security services for businesses that need support in that area. It boasts of being one most prominent security startups in America, having close to 2,000 clients while securing assets worth billions. This process has corrected thousands of vulnerabilities capable of leading to asset loss.
CTK token is the native currency of Certik chain, assisting the execution and implementation of transactions. The coin essentially fuels the growth of the Certik community and has also appreciated over the past years.
Use Cases are essential parts users consider before buying an asset. CTK has the following use cases:
Gas is a fundamental part of transactions, particularly in the digital asset world. Without sufficient gas, some transactions may not be successful. Thankfully, owning a CTK token may help you reduce gas consumption. When you pay less for gas, you get better value for your execution.
One of the most essential parts of decentralization is that everyone has an opportunity to vote on matters concerning the community’s growth. When you own CTK tokens, you can participate in voting. Voting ensures that the system is decentralized, distributing power within the community.
You may also enjoy rewards when you own this token. Like many other tokens, it may allow accessing some essential benefits for community growth and faster adoption. When you have access to more rewards, you earn more.
Staking: Another benefit is the staking opportunity. If you love staking, you should buy this token to stake and earn benefits.
Investing in CTK tokens is a choice you need to make yourself by conducting adequate research and deciding if you can manage risks appropriately. Since cryptocurrencies are highly volatile, they may be too risky for some people. Still, cryptocurrencies are another way to supplement your income, so ensure you understand the coin’s growth patterns and other essential parts to predict future price movements.
The recent market crash took a toll on the $CTK token, hence the downtrend in prices visible in figure 1. Prices managed to recently break the downtrend and are trying to reverse upwards. Of course, if the entire crypto market continues to crash, hopes of having higher prices will not realize.
Unlike many other cryptocurrencies, Certik is only available on some platforms. This means that you cannot purchase Certik on every exchange out there. One of the most popular exchanges where you can buy Certik is Binance.
Binance has listed Certik token, helping users access and buy their favorite token. Other popular exchanges include Gate.io, where you can readily access your favorite tokens.
Certik chain is a network that focuses on improving security in blockchains and other aspects of the digital economy. Artificial intelligence can check correctness during the execution of smart contracts or protocols. It’s safe to add that security is essential for every business to improve growth and ensure the required expansion to meet goals. When networks have adequate security protecting them, they can fight against Intruders and other bad actors hoping to get ahold of your cryptos.
The post Everything You Need To Know About Certik Crypto and $CTK token appeared first on CryptoTicker.
The Bitcoin price has stabilized slightly in the last few days and could rise more strongly if it breaks above $38,000. But if Bitcoin cannot break through the resistance, there is a risk of another sharp drop lower. What does the near future of the Bitcoin price look like? Let’s assess Bitcoin’s newest price developments in this Bitcoin price prediction.
In the last few days, we have experienced another sharp drop in the Bitcoin price. It went from $43,000 to $35,000 in 2 days. The Bitcoin price has thus fallen below the $40,000 mark for the first time in months.
In the last 2 days, we have seen a slight stabilization of the Bitcoin price. It is now staying above $36,000 and trying to surpass $38,000 again and again. A resistance has formed here that needs to be broken. Looking at figure 1, we can clearly see the formation of that $38,000 resistance. It first was a support level that was broken, then turned into a resistance. In fact, back in August 2021, that same area represented also an important area for traders.
If Bitcoin price breaks the resistance at $38,000, we could see a surge above $40,000, which would have seen the price recover from the last sharp drop. The $38,000 to $42,000 area has previously been cited as a key support zone from which Bitcoin could rally back towards $50,000.
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With the last Bitcoin crash, the bottom of the current price correction could have been reached. In the last 3 months, we saw several strong crashes, each of which we hoped was the bottom of the correction. Now that we reached the strong buy area of 30K, prices should be on their way to 40K thanks to the buying volume.
If we look at the analysis data on the Bitcoin price in figure 2, we can see that the so-called “Relative Strength Index” (RSI) is as low as it has been since March 2020. This value indicates that the bitcoin is heavily “oversold” at the moment.
This value and the strong fundamentals in the Bitcoin network, such as the further increasing hash rate, suggest that we only saw a strong correction, but could still be bullish in the long term. On top of that, the Fibonacci retracement suggests that prices can go as high as $46,000, which happens to be another support for BTC.
In the past 24 hours, the cryptocurrency market rose by an average of +3.8%. The Bitcoin dominance rose to 41.7%, and Bitcoin’s price increased also by +3.2%. Despite the crypto market being green, one should always proceed with care, as we are still considered in a bear market.
1- Bitcoin (BTC) : + 3.2 %
2- Ether (ETH) : + 6.7 %
3- Tether (USDT) : 0 %
4- Binance Coin (BNB): + 1.5 %
5- USD Coin (USDC) : + 0 %
6- Cardano (ADA) : + 4.5 %
7- Solana (SOL) : + 9.1 %
8- Ripple (XRP) : + 3.2 %
9- Terra (LUNA) : + 1.2 %
10- Polkadot (DOT): + 5.3 %
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All that rhetoric that blockchain establishes in the form of trust, transparency, and security goes for a flip. This happens when you cannot use a technology to power up ambitious sectors like finance due to scalability challenges. Having said that, what happens when blockchain projects encounter conflicts within their own community, an unavoidable hard fork, and a long period of contention among investors to choose the right coin post the hard fork.
What would you say to an idea where true decentralization can be inducted to power up the project? Preferably, one would say that it might be next to impossible to get the community to vote on everything and then develop, instead of vice-versa. However, there’s one project which is preferably doing that and it could be the next big thing in the crypto space. In case, you are wondering which blockchain we are talking about, it is Cardano!
Despite some of the cryptocurrencies witnessing an unprecedented rise, they weren’t immune to conflicts of interest, hacks, and scandals. As a result, hard forks ended up as a trending term in the last few years. However, Cardano introduced the concept of true decentralization through its scientific philosophy and research-driven approach.
The crux of the project is that even the developers and project founders do not have complete control over the project. Rather, the community drives everything through a free, open-source voting process that makes the entire project trusted, verified and scalability is driven through its consensus mechanism.
Basically, most of the renowned blockchains that the community trusts work on PoW or Proof-of-Work mechanism. Without a doubt, proof of work is a masterpiece consensus when you want very high security; nonetheless, one cannot use it for driving enterprise-level adoption. In order to do that, the blockchain must be fast but secure at the same time.
Cardano’s Ouroboros algorithm, which is much like the heart of the Cardano ecosystem, uses PoS or Proof-of-Stake consensus mechanism that considerably saves on energy consumption and facilitates faster transactions. On top of this, the Recursive Internet Worked Architecture( RINA) allows scaling the ecosystem to meet enterprise-level adoption. For example, African countries are thinking of adopting Cardano as a payment network in their country.
Basically, most blockchains start to choke out when enterprises adopt their ecosystem. The prime reason for the same is an overflow of data to their ecosystem. As a result, network bandwidth becomes an unavoidable holy grail that hasn’t been solved yet. Since all existing networks work on TCP/IP model, commanding scalability to happen while using a restrictive blockchain layer would mean asking a fish to climb a tree.
That said, Cardano introduces RINA or Recursive Internet Worked Architecture which breaks the network layer into two: (1) Data transfer layer (2) Data management layer. However, in case you are wondering how communication would happen between both layers to validate the entries, a default network security layer acts as a subset for both layers.
The recent explosion in the DeFi market has established the fact that as time passes, we could see more use-cases building on top of DeFi. Earlier we did see the DeFi 1.0 storm, now we are seeing the DeFi 2.0 storm where protocols have turned smarter and they control much of their liquidity on their own. In the near future, more use cases would emerge and the much anticipated Hydra upgrade would allow quickening of transactions on the ADA-USD chain at a fraction of a cost.
As a result, preferably the DeFi ecosystem might look forward to moving to the Cardano ecosystem instead of Solana due to the latter’s network outage track record. At the same time, investors need not have to worry about hard forks and their initial tokens losing value since the peered review is going to turn mainstream on the Cardano network. All of these would make Cardano a preferred buy option for the upcoming future ahead.
Though most of the cryptocurrencies witnessed an inevitable bloodbath in the market recently, Cardano, often considered an underdog project, performed outrageously. The token is up 30% invalidating a bull trap ahead. Much of the price gains have been attributable to this third phase rollout and Basho update. As per the Dutch cryptocurrency trader Michaël van de Poppe, ADA is on the path to reversal after invalidating a further downside to $1 below the lower trend line.
Thus setting the tone that no further divergence would occur within the $1.05 and $1.20 zone and we could very well see momentum building up ahead. $1.30 could be a good entry point and $1.41 could be the point where we see massive trades as per the Fib retracement analysis.
Click on the link to initiate the process. Once you do, it will take you to the “buy Cardano” section with a credit card page as shown below.
Click on the login as shown on the top right. We are assuming that you have a Binance account. In case you do not, you can check our other blog where we have a guided tutorial to help you set up your Binance account.
Input the code received and once you do, it will take you to buy with a credit card.
Input the amount of ADA you wish to buy. We’ll take an example of 1,000 USD and click on the continue button.
Click on the add card option. Fill in the specimens and click on continue. Once you do, it will ask for validating the transaction within 11 seconds.
Upon doing that, you can check the ADA newly purchased on your spot wallet. Always use a reliable cold wallet to store all your cryptos.
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NFTs have increased in popularity over the last year. More and more collections are entering the market and celebs are embarking on NFTs too. NFTs are now mainstream. This post is all about the top 3 NFT collections that have the most trading volume.
Images of monkeys are always among the most widespread NFTs on the market. Probably the most notable collection of monkey images is the Bored Ape Yacht Club. It is a pack of 10,000 images of bored monkeys.
This NFT collection was launched in April 2021 via the OpenSea trading platform. The monkeys have a tally of 170 unique features that range in rarity. With a 7-day volume of 15,277 ETH, the Bored Ape Yacht Club is the top NFT collection.
The next NFT collection with a 7-day volume of 10,918 ETH is another collection of monkey images called the Mutant Ape Yacht Club. The Mutant Apes have been deemed as an additional advanced form of the Bored Apes and can also be discovered in the collection on OpenSea. Visit OpenSea to see the unique NFT collections!
The Mutant Ape Yacht Club contains 20,000 unique images. It belongs to the so-called pedigree of the Bored Ape Yacht Club. In addition to the Mutant Ape Yacht Club, the Bored Ape Chemistry Club and the Bored Ape Kennel Club are also the characteristics of the family tree.
The Sandbox was one of the most famous blockchain games in 2021. In the Sandbox Metaverse, there is a map of up to 166,464 LANDS. The landlords can begin events and contests on their LAND, stake the SAND token, and layout assets separately. The Sandbox collection on OpenSea has a 7-day volume of 4,713 ETH, making it the most popular NFT collection.
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In our last Ethereum price prediction, we wrote that the price is in a sideways phase. Such phases break out bearish in most cases as these are considered continuation patterns. Because of this, we also expected the price to break out in a bearish fashion. But now the price could prove the opposite. How far will Ethereum price go upwards? Won’t we go back down to $1,800? Let’s analyze.
The Ethereum price was able to break out of the sideways phase between $2,300 and $2,500 just today. We anticipated a bearish breakout in yesterday’s article as it is a continuation pattern. Now, the resistance has been broken, which is why we anticipate that Ethereum price could target the $2,800 – $3,000 resistance area next. After that, however, it could go south again.
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Despite the bullish breakout, we still expect a dump towards $2,000 – $1,800. We think the price will use the next short-term uptrend to catch its breath so it can continue falling. It has to be said that we only confirm the $2,000 as soon as the price falls below $2,300 and thus breaks the support.
For day traders, it might be a good idea to prepare a short position accordingly. Usualy, an upward movement would go in tandem with the entire cryptocurrency market. That’s why it is very important to keep an eye on the entire crypto community and altcoin prices especially Bitcoin. If they continue to recover for now, placing that short position wouldn’t be a good idea.
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Axie Infinity (AXS), like most other metaverse and blockchain gaming tokens, has been falling…
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The trend is your friend, but while you can ride it for so long,…
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