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A new era has begun for the Bitcoin blockchain.

Last week, a group of developers deployed a suite of Uniswap smart contracts directly onto the Bitcoin blockchain.

Uniswap is a decentralized cryptocurrency exchange (DEX) that operates on multiple smart contract-enabled blockchains like Ethereum and Polygon and operates based on automated market maker (AMM) smart contracts.

The new Bitcoin-based DEX, called Trustless Market, allows its users to swap so-called Smart BRC-20 tokens, provide liquidity and earn a 2% transaction fee and issue new Smart BRC-20 tokens, according to @punk3700, one of the developers behind the DEX.

BRC-20 is a new Bitcoin-based token standard that allows users to write information into each Satoshi, which is the smallest unit of denomination of BTC there are 21 million Satoshis per Bitcoin.

According to Trustless Markets website, Smart BRC-20s are the first smart contracts deployed on Bitcoin.

They run exactly as programmed without any possibility of fraud, third-party interference, or censorship, the protocol added, saying they can be issued for virtually anything: a cryptocurrency, a share in a company, voting rights in a DAO, and more.

DeFi is coming to @Bitcoin And we couldn't be more excited to be part of the movement, @punk3700 said.

The deployment of AMM smart contracts on Bitcoin marks its official emergence as a smart chain, whether its creators and strongest proponents intended for it to be used as such.

Prior to the arrival of the Ordinals protocol late last year, which introduced text and image-based inscriptions to the Bitcoin blockchain, the BRC-20 token standard in March and now smart contracts, Bitcoins use in decentralized finance (DeFi) had been limited.

Tokenized versions of the cryptocurrency, like Wrapped Bitcoin (WBTC) on the Ethereum blockchain, had attempted with mixed success to unlock the worlds largest cryptocurrencys DeFi potential.

And there has also been a lot of excitement as of late regarding smart-contract-enabled Bitcoin layer-2 scaling solutions like Stacks.

But the Trustless Market protocol could well be the first of a Cambrian explosion of new dApps that will be deployed directly onto the Bitcoin blockchain.

And there is certainly demand for Bitcoin DeFi.

After three days of the protocols deployment on Bitcoin, Trustless Market had already seen over $500,000 in trade volume, @punk3700 said.

Meanwhile, the market cap of (normal) BRC-20 tokens recently surpassed $1 billion, though this has since dropped back to around $500 million, as per BRC-20.io.

Its early days for DeFi on Bitcoin.

But @punk3700 compared the current moment to Uniswap in 2018, when the protocol had just launched on the Ethereum blockchain.

Since 2018, AMM smart contracts using DEXs like Ethereum have been at the forefront of an explosion of DeFi applications on Ethereum and other smart chains.

One hurdle to Bitcoin potentially following this path is the blockchains lack of transaction processing capacity, which also continues to hinder Ethereum.

However, unlike for Ethereum, Bitcoin has no plans or roadmap to upgrade its protocol to increase transaction throughput.

Layer-2 scaling solutions like Stacks may thus hold the key if Bitcoin, or at least Bitcoins zone of sovereignty (i.e. the protocols like Stacks that rely on its underlying consensus mechanism), is to become a DeFi powerhouse.

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Smart Contracts Have Arrived on the Bitcoin Blockchain Will BTC ... - Cryptonews

IOTAs Layer-1 blockchain network Shimmer has been buzzing with activity in recent times as it continues to hit new milestones with daily active addresses as well as total network transactions. In late March 2023, Shimmer unveiled the ShimmerEVM testnet, setting a bridge for the easy transfer of assets between Shimmer and the Ethereum blockchain network.

In the latest development, IOTA co-founder Dominik Schiener announced that there have been more than 5,000 smart contracts deployed on the ShimmerEVM testnet so far. Also, the total number of active addresses on the testnet has now surged past 64,000 while ShimmerEVM has registered more than 6 million transactions to date.

This is a significant milestone in a very short time after the launch and shows that theres a very high acceptance for ShimmerEVM. However, the IOTA developer team has yet not confirmed the final date of launch for the ShimmerEVM mainnet.

Interestingly, as it turns out, the largest contributor to the massive activity on the ShimmerEVM testnet is the recently launched Web3 gaming experience Treasures of Shimmer. Earlier this month on May 3, the Treasures of Shimmer initiative commenced. It is a two-week incentive program that aims to reward users and projects for their participation in the public testing of the ShimmerEVM chain and the deployed dApps on it.

Following this, participants will engage in the public testing of 1.3 million SMR tokens. It will be interesting to see whether the ShimmerEVM network activity continues to stay this high as the initiative ends.

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As previously stated, the launch of ShimmerEVM will allow the easy transfer of assets between the Shimmer network and the Ethereum blockchain. As a result, users will be able to bridge their IOTA tokens to the ShimmerEVM and unlock yield farming opportunities for themselves.

IOTA co-founder Dominik Schiener said: Shimmer is expected to provide $IOTA holders with a chance to stake their tokens and earn returns, thus taking the crypto to new heights. It is considered a crucial element in the growth of DeFi on the Shimmer platform.

The IOTA team is continuously making new improvements for the launch of the real ShimmerEVM, aiming to provide a more polished version. They consider this testnet to be a crucial milestone toward the rollout of future ecosystem projects on both Shimmer and IOTA.

Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.

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IOTA: Shimmer Reaches 6M Transactions and 5,000 Smart ... - Crypto News Flash

Chainlink Automation will help developers with hyper-reliable smart contract automation

SAN FRANCISCO, May 15, 2023 /PRNewswire/ -- Chainlink, the industry-standard Web3 services platform, announced today the integration of Chainlink Automation on Optimism, a fast, stable, and scalable L2 blockchain built by Ethereum developers. A number of projects, including BarnBridge, DeFiEdge, Lyra and Pickle Finance, are already integrating Chainlink Automation to reliably trigger key smart contract functions on Optimism.

Much like how Optimism helps DeFi developers to seamlessly scale their apps, Chainlink Automation enables developers to scale by giving them the ability to execute DevOps maintenance tasks. In turn, this enables developers to build more advanced dApps, which will ultimately bring more users to the Optimism ecosystem.

"The launch of Chainlink Automation will help Optimism developers trigger DevOps tasks, provide stronger security guarantees, and more easily scale their dApps," said Smit Vachhani, Head of DeFi Partnerships at OP Labs. "With the native integration of Chainlink Automation's smart contract automation service, developers can build advanced features and unlock new use cases that help grow the Optimism ecosystem."

Chainlink Automation is a highly performant and decentralized automation service. Developers can use Chainlink Automation to monitor automation logic securely and cost-efficiently off-chain, and then initiate an on-chain transaction to execute the smart contract function when predefined conditions are met.

"We're pleased to support the Optimism ecosystem with the native integration of Chainlink Automation, enabling developers to build highly scalable smart contract applications that are decentralized end-to-end," stated Johann Eid, VP of Go-To-Market at Chainlink Labs. "By integrating Chainlink Automation, Optimism developers can build more advanced applications that help drive adoption of smart contract technology over the long term."

In September 2021, Optimism integrated the market-leading Chainlink Price Feeds, which helped underpin the rapid growth that Optimism has seen in both developers and end-users across its DeFi ecosystem. Now, the same decentralized network of time-tested node operators that already helps secure billions of dollars through Chainlink Price Feeds, is providing Optimism developers with highly performant smart contract automation through Chainlink Automation.

About ChainlinkChainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries and offers global enterprises and leading data providers a universal gateway to all blockchains.

Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link. To discuss an integration, reach out to an expert.

About OptimismThe Optimism Collective is redistributing power to humanity through its low-cost, lightning-fast Ethereum-equivalent L2 blockchain. OP Labs, the first opco in the Optimism Collective, is working to scale Ethereum's technology and values by building the most secure, stable, and decentralized blockchain.

SOURCE Chainlink

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Chainlink Automation Is Live on Optimism - PR Newswire

Tired of investing in boring old stocks and bonds? Well, heres an introduction to the world of crypto, where the only thing more unpredictable than the stock market is Elon Musks Twitter feed. And if youre looking for the hottest new digital assets to add to your portfolio, look no further than Dogecoin (DOGE), Avalanche (AVAX), PATWARS, and Cardano (ADA).

These three crypto superstars are making waves in the market, and lets be honest, investing in them is way more exciting than buying yet another traditional mutual fund. So sit back, relax, and lets take a journey through the world of crypto with these top investment choices.

Dogecoin was created as a meme and has gained immense popularity for its community-driven nature and entertainment value. In recent months, Dogecoin has seen a surge in price and market cap, overtaking Cardano to become the sixth-largest cryptocurrency in the world. Analysts predict a bold price range for Dogecoin in 2023 between $0.099 and $0.11.

The reasons why Dogecoin is a top investment choice for cryptocurrency enthusiasts may vary depending on the investors preferences. Some may be drawn to its recent surge in price and market cap, while others may be attracted to its community and entertainment value.

Avalanche is a platform for decentralised applications and smart contracts, with its native cryptocurrency, AVAX, ranking 15th in market capitalization. In early 2023, Avalanches GameFi ecosystem experienced a significant rise.

Investors may be attracted to Avalanches potential for decentralised finance and its focus on smart contracts. Additionally, some may be interested in the potential benefits of investing in blockchain technology, such as lower carbon footprints.

Cardano is an environmentally conscious blockchain for smart contracts, stores of value, and exchanges of value. In recent months, Cardano has been benefiting from improved market sentiment, and investors are still bullish on the cryptocurrency long-term. In February 2023, Cardano led a recovery in the crypto market.

Additionally, Cardano and Avalanche are both programmable blockchains, but Cardano is more focused on smart contracts, while Avalanche is more focused on decentralised finance.

PATWARS is a cryptocurrency project built on the Ethereum network with a strong emphasis on community empowerment and decentralised governance. It offers exclusive non-fungible tokens (NFTs) featuring four Jedi Cats, providing both collectible and utility value for holders.

The integration of NFTs into the ecosystem enhances user engagement, creates new avenues for value creation, and opens up potential collaborations with decentralised applications and gaming platforms.

With a dedicated team committed to continuous innovation, a robust ecosystem, and a clear vision for the future, PATWARS is well-positioned for sustained growth and success. Investors can expect to see significant value appreciation in both the short and long term, making it an exciting opportunity for those looking to invest in a cryptocurrency project with strong community involvement and the potential for high returns.

The market trend for Dogecoin, Avalanche, and Cardano is positive, with all three cryptocurrencies seeing gains in recent months. In March 2023, Dogecoin and Avalanche gained 6% each, while Cardano soared over 10%. The market trend of these cryptocurrencies is influenced by various factors, including market sentiment, adoption, and media attention.

The reasons why these cryptocurrencies are top investment choices may vary depending on the investors preferences. However, Dogecoins community and entertainment value, Avalanches potential for decentralised finance, and Cardanos focus on smart contracts and environmentally conscious approach to blockchain technology make them compelling choices for cryptocurrency enthusiasts in 2023.

For those truly interested in a cryptocurrency project with a strong community focus, unique NFT integration, decentralised governance, and a commitment to continuous innovation, PATWARS may be a compelling investment choice.

Website: https://www.patwars.com

Twitter: https://twitter.com/PATWARSOfficial

Telegram: https://t.me/PATWARSOfficial

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From Smart Contracts To Memes: The Unique Appeal Of Dogecoin ... - Analytics Insight

Bitcoin BRC-20 and Ethereum ERC-20 are two separate token standards, though the former is said to be inspired by the latter.

But how do these two token standards compare, and are they really that different? What features do BRC-20 and ERC-20 share, and could one be better?

ERC-20 is the Ethereum blockchain's primary token standard. First put forward in 2015 by Fabian Fogelsteller in the 20th comment of a GitHub post, the standard's name aptly became "Ethereum Request for Comment-20", or, as it is usually known, ERC-20.

The core focus of ERC-20 is to give tokens the ability to use smart contracts, a key attribute of the Ethereum blockchain as a whole. Smart contracts can automatically execute agreements when a set of specific conditions are met, eliminating the need for a middleman or third party.

ERC-20 is an incredibly popular token standard, as it is the standard used by all fungible tokens created on the Ethereum blockchain. To be fungible, each token must have the same value. For instance, each Shiba Inu token must be worth the same amount so that one can be directly exchanged for another.

There is a standard on Ethereum for non-fungible tokens (NFTs), ERC-721, but we won't discuss that in detail today. Instead, check out our piece comparing ERC-20 and ERC-721 to learn more.

Some of the biggest tokens in the crypto world use the ERC-20 standard, including:

At the time of writing, almost half a million different ERC-20 tokens are built on the Ethereum blockchain. In fact, ERC-20 is the most popular standard used by token developers across the entire crypto realm. However, other standards have gained a solid foothold among crypto users, such as the BNB Smart Chain's BEP-20.

On top of enabling smart contracts, ERC-20 enables a range of other features, including transferring tokens, using tokens on other platforms, and finding out the token balance of a given account or wallet.

Because of their popularity, many ERC-20 tokens are now available to trade on big exchanges like Binance, Coinbase, and Kraken. You can even pay for products using certain ERC-20 tokens, such as Shiba Inu. Various vendors now accept Shiba Inu payments, which speaks to the wide adoption of ERC-20 tokens.

Until 2023, only one asset existed on the Bitcoin blockchain: Bitcoin. While many people love Bitcoin, the blockchain's hosting of just one asset is often considered limiting, especially with other blockchains constantly diversifying with new tokens and projects.

Ethereum has always stood as Bitcoin's competition. Though Bitcoin is more valuable than Ethereum, the price is not all that matters. Ethereum supports thousands of tokens on its blockchain and supports smart contracts, DeFi projects, and decentralized exchanges like UniSwap.

Because of Ethereum's greater range of capabilities, it is preferred by many over Bitcoin. But now, Bitcoin might be able to meet Ethereum at its own level with the introduction of the BRC-20 token standard.

The BRC-20 token standard was launched in March 2023. The standard, proposed by an anonymous user known as "Domo," essentially allows developers to create tokens on top of the Bitcoin blockchain. The tokens created through this standard are known as BRC-20 tokens.

BRC-20 uses the Ordinals protocol to function. Ordinals is a Bitcoin protocol that launched in January 2023two months before BRC-20. The Ordinals protocol addresses another limitation experienced by the Bitcoin blockchain: its inability to host NFTs. NFTs (non-fungible tokens) are still crypto-assets but, as the name states, are not fungible. One NFT cannot be directly exchanged with another to make an even trade.

NFTs were unavailable on the Bitcoin blockchain until the launch of Ordinals. Using the Ordinals protocol, data can be inscribed onto a tiny fraction of Bitcoin, known as a satoshi, during a transaction, effectively creating an NFT. Though Ordinals created hype around Bitcoin, the limitation of a single-asset blockchain still existed. But with the BRC-20 token standard (which works via Ordinals), fungible assets can be created and minted on the Bitcoin blockchain.

BRC-20 is still very much in its infancy at the time of writing, but there are already some notable BRC-20 tokens, including:

Most of the above assets currently have a very low value of under a dollar. PEPE, for example, had a value of around half a dollar on May 9th, 2023. Because things are just starting for BRC-20 right now, there's no way of knowing whether they will continue to be in high demand. This is worth keeping in mind if you're considering investing in BRC-20 tokens.

The most important thing to note here is that the BRC-20 standard is based on ERC-20, so there is definitely a correlation between the two.

At the time of writing, ERC-20 tokens are the more versatile choice for crypto traders. This is because ERC-20 is a well-established token standard that has been around for years, whereas BRC-20 has only been in use for a few months at the time of writing. This isn't to say that BRC-20 doesn't have the same potential as ERC-20, but newer products in the crypto industry should always be looked upon with a degree of skepticism, as trends come and go a lot in the market, with some amounting to nothing at all.

ERC-20 tokens are also more widely accepted by different crypto wallets.

If you're a big fan of smart contracts, you also may not like BRC-20. The BRC-20 standard uses Ordinals inscriptions, not smart contracts, to function.

However, BRC-20 has already gained a large following of passionate enthusiasts who are excited to see where things head. As the BRC-20 market grows, more traders are questioning whether this token standard will soon rise through the ranks to meet ERC-20.

Furthermore, as BRC-20 is a new yet widely popular token standard, many criminals are already looking to capitalize on yet another crypto trend. Because of this, there are heaps of scam BRC-20 tokens, and rug-pulls are a common issue.

It's also important to remember that the Bitcoin blockchain frequently suffers from scalability issues and high transaction fees, largely exacerbated by its use of the proof of work consensus mechanism. Ethereum, on the other hand, uses the proof of stake mechanism, which is generally more efficient.

ERC-20 and BRC-20 tokens exist on hugely popular blockchains, which certainly works to their advantage.

While the Ethereum blockchain is already a popular destination for crypto developers, the Bitcoin blockchain may now also gain even more popularity for its support of token creation and minting. Over the coming months and years, Bitcoin could become a top choice for token development through BRC-20. But, for now, ERC-20 tokens remain the superior choice.

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BRC-20 vs. ERC-20 Tokens: What's the Difference? - MUO - MakeUseOf