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Why Jigstack Is Microsoft of DeFi

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Like Microsoft, Jigstack is looking to provide appealing and user-centric services, albeit in a decentralized manner.

It takes great efforts on the part of businesses to emerge as the powerhouse of their industry. As such, only a handful of companies have achieved this feat in the last couple of decades. One of such is Microsoft, a colossal force in the tech world. This brand has somehow positioned itself as the nexus between users and innovative products. Interestingly, Jigstack, a decentralized autonomous organization, is towing a similar path. Here is how!

Microsoft and Jigstack Are Both Ambitious

One thing that sets Microsoft apart is its penchant for developing products that resonate with users. It created unique computing tools and applications and forever changed the way the entire industry approached the concept of personal computers. Not long after it revealed that it seeks to enable a world where each household owned a personal computer, Microsoft introduced a suite of services, which ushered in a new development phase in the digitization movement. The propensity of discovering better designs and efficient ways of delivering high-quality technologies has helped Microsoft maintain its status as a formidable force in any field it tackles.

Although Microsoft’s values are not hidden, the problem is that a majority has found it difficult to replicate them in their businesses. It is one thing to create a business; it is another to establish a sustainable brand. This is where other aspiring entrepreneurs have faltered. Therefore, it is newsworthy whenever a startup seems to have cultivated these values and has begun to implement them in various ways. This is why Jigstack is fast becoming a rising star in its chosen field – the Decentralized Finance sector. Jigstack is looking to democratize the DeFi landscape and bring open finance to mainstream consciousness. This goal is on par with the level of ambition that has cemented the place of Microsoft in the ongoing tech revolution.

The Power of Innovation and High Standards

Like Microsoft, Jigstack is looking to provide appealing and user-centric services, albeit in a decentralized manner. Also, it is going all out to preserve the simplicity of its infrastructures and ensure that they evade the limitations of other DeFi applications. Although its goals are a little bit ambitious, given that the DeFi is still considered an experimental landscape, Jigstack understands that the reward far outweighs the current challenges. Hence, it is committing all its resources and technical expertise towards establishing a viable DeFi ecosystem.

As expected, this requires a dynamic shift in the governing and business cultures prevalent in the decentralized terrain. Though there are over 355,000 token contracts on the Ethereum blockchain, it is difficult to put a pin on the development curves of these systems and how they bring about a truly innovative ecosystem. Under the current state of the DeFi sector, the best we can hope for is intermittent developmental achievements. The downside is that users have to undergo cumbersome steps to identify the best DeFi tokens to buy. Therefore, Jigstack must unite this heavily disjointed industry.

Jigstack is proposing an approach that combines standards and innovations for an enabling environment for developers and users. In essence, it is looking to become a nexus that channels decentralized, autonomous, secure, and standardized services to DeFi proponents. As the first phase of its ongoing DeFi reinvention, Jigstack has created a suite of solutions that caters to the marketing needs of developers.

Ethlink And Lemonade Put Jigstack on Track

Ethlink and Lemonade are to Jigstack what Windows is to Microsoft. These products provide opportunities to restructure the DeFi landscape around purpose-built and innovative applications. Ethlink offers optimized affiliate marketing tools with decentralized governance and operational functions. Hence, the whole process required for high market exposure and referrals is autonomous and free from the inputs of intermediaries. The product combines blockchain functionalities and conventional affiliate marketing concepts. This approach provides an efficient and tamper-proof design for linking brands to a global network of advertisers. The platform pays commissions directly to the Ethereum wallets of whosoever promotes featured projects or companies.

On the other hand, Lemonade delivers a cheap and automated way of issuing tokens or organizing a crowd sale. Jigstack designed this product to democratize the process required in launching token sales while ensuring that applicable standards are met. When startups or developers combine the functionalities of Ethlink and Lemonade, it becomes easier to meet predefined targets. The cumulation of these services helps projects achieve explosive and sustainable growth.

Conclusion

While Microsoft remains the gold standard, as regards business success, for the likes of Jigstack, it is worth mentioning that there are different focal points to the approach adopted by these two innovative brands. For one, Microsoft runs an ironclad ecosystem. Conversely, Jigstack favors a permissionless environment where the autonomy of users is preserved. These conflicting ideologies may play pivotal roles in the future of both businesses.

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Author: Andrey Sergeenkov

Founder and editor at BTC PEERS. Andrey writes about financial experiments, DeFi, cryptocurrency, and blockchain.



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DeFi

Kraken CEO Jesse Powell Says Company May File for IPO ‘Sometime Next Year’

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In the interview with Bloomberg, Powell noted that Kraken currently has “no reason” to raise new capital. The CEO, however, pointed out that the company may seek to accelerate its acquisitions.

The founder and CEO of US-based cryptocurrency exchange Kraken Jesse Powell said that the company may file for an initial public offering (IPO) in the coming year. Although Powell said the listing may come “sometime next year,” the CEO added that there are “no guarantees.”

Kraken CEO Says Company May File for IPO in 2022

Kraken CEO talked about the company’s potential IPO during an interview on Bloomberg TV on March 3rd. In response to whether he would take Kraken public at a $10 billion valuation, Powell answered:

“We are certainly on track though $10 billion dollars is a low valuation. I wouldn’t be interested in issuing shares at that price.”

Before Powell’s recent interview, Bloomberg had reported that Kraken was working on raising new capital that could move the company’s valuation from $4 billion to $10 billion. According to Bloomberg, Kraken was in talks with Fidelity, Tribe Capital, and General Atlantic to raise an undisclosed sum. Citing familiar sources with the matter, the report added that Kraken’s valuation could exceed $20 billion depending on demand.

Kraken’s valuation reached $4 billion in 2019 after the company raised $13.5 million in a financing round. The exchange saw more than 2,000 participants in the funding round.

In the interview with Bloomberg, Powell noted that Kraken currently has “no reason” to raise new capital. The CEO, however, pointed out that the company may seek to accelerate its acquisitions.

Speaking further, Powell talked about Bitcoin price and what investors should know. The CEO said that there was no reason to sell BTC. He stated:

“I think a lot of people are just waiting to buy the dip. I do think if you’re buying bitcoin based on speculation you should be looking to hold over a five-year period.”

Bitcoin Rebounds from Dip

After declining in the past week, Bitcoin has rebounded to cross the $50,000 milestone again. In the early hours of trading March 2nd, Bitcoin started recovering from the 21% dip recorded in the past week.

In a recent report, Coinspeaker stated that Bitcoin’s recent gains seem sustainable due to the healthy state of the futures market. As Bitcoin rebounds, there are predictions that the king coin may reach above $58,000, putting an end to pullbacks. The COO and co-founder of Stack Funds said Bitcoin may hit a new high of more than $58,332 if the digital asset closes at over $52,100.

A market analyst, Joseph Young, commented on Bitcoin’s recovery t0 $50,000. In a tweet, Young said:

“This time it’s [BTC] at default funding, no overcrowded futures market, spot market parity with futures, and high Coinbase premium, coupled with large outflows and institutional interest.”

Despite bullish predictions, currency strategist at LMAX Digital, Joel Kruger, told CoinDesk that he believes Bitcoin may still record losses in the future.

At press time, Bitcoin is down 3.66% to $48,620.46.

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Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience. Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.



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Ethereum DeFi Trends Set To Dominate 2021

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Alex Kyriakopoulos



2020 was the year of DeFi, not just in terms of the explosive price increases – but the technological advances and support from public figures.

From the growth of UniSwap, Chainlink, AAVE, and BNB into the top 20 tokens by market cap to tech billionaire Mark Cuban revealing his positions in the aforementioned tokens, one must wonder what comes next. 

Improved security and auditing of contracts. 

Exploits performed by hackers on vulnerable DeFi smart contracts resulted in the loss of tens of millions of funds throughout 2020 and early 2021.

Flash loan attacks, where hackers can borrow large uncollateralized quantities of ETH and extract funds from exchange through complex arbitrage opportunities between stablecoins or manipulation of price oracles (the price providing part of a smart contract that interacts with market data outside the chain).

Auditing smart contracts before they go live as part of yield farming or lending strategies by third-party firms such as Nexus Mutual is necessary – and becoming the accepted norm for DeFi platforms. Users becoming acquainted with the basics of DeFi development processes and community-led initiatives to ensure complete auditing of contracts are also vital to its long-term resiliency.  

ETH 2.0

DeFi has grown from the Ethereum ecosystem but has reached a point where it is almost impossible to continue in the current Ethereum paradigm. ETH 2.0 promises lower fees – lending itself to the higher scalability that is needed for the financial products of the future. But more than lower fees, ETH 2.0 will hopefully address the first point raised.

As a proof-of-stake chain, Ethereum miners will be unable to modify blocks that have already been validated – ensuring the robustness needed for a secure financial ecosystem. Projects like Binance token (BNB) and Cardano (ADA) plan to capture the DeFi market through their blockchains, but with the overwhelming majority of initial development done on Ethereum, ETH 2.0 would likely place the chain in a dominant position over DeFi. 

Regulatory Pressures

Regulatory focus on crypto has primarily been placed on tax evasion and other fraudulent activity. DeFi. The regulatory framework for DeFi by the governments of the US, China, Russia is nearly non-existent.

Minimizing exit scams, implementing KYC on DEXs (decentralized-exchanges), and preventing money laundering remain pressing concerns.

Overbearing regulation, including policy, targeted explicitly at obstructing DeFi is a critical macro risk that users and project CEOs must be aware of and account for. Government Policy could ultimately end up much favoring centralized exchanges such as Coinbase – which filed to go public on the 25th. 

Featured Image from Unsplash



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Cardano Reaches All-Time High, Ahead of Ethereum in Transaction Volume

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Alex Kyriakopoulos



Today has been a monumental day for Cardano. Caught within the recent crypto bull market, its token, ADA, hit a new all-time high price of $1.38 this evening. This marks an increase of approximately 2600% over the past year, as tracked by Messari

In fact, this milestone brings with it more good news for the smart contract platform. Over the past 24 hours, the surge of interest in Cardano has brought its on-chain transaction volume to $19.8 Billion, soaring past Ethereum’s $13.2 billion and second only to Bitcoin at $27.2 billion. 

All this activity has brought ADA’s market cap has exceeded both BNB and USDT to the third highest in the market, behind Bitcoin and Ethereum.

Initially released in 2017, Cardano was created by Ethereum Co-Founder Charles Hoskinson, through his company Input Output Hong Kong (IOHK) and the Cardano Foundation. Although he had previously expressed apathy towards the value of ADA, Hoskinson appears to be celebrating Cardano’s achievements on Twitter:

Cardano as a Smart Contract Platform

Cardano’s recent success comes as a surprise given its lack of major projects utilizing the blockchain. Although it has surpassed Ethereum in terms of transaction volume, Ethereum remains far more popular with regard to blockchain-based applications. This raises the question, will Cardano be able to maintain this success without dApps to legitimize it as a platform for developers?

However, Cardano’s lack of major applications may eventually change due to the publicity of ADA’s recent bull run. Cardano’s previous lack of volume may have acted as a deterrent to developers looking for a platform for their application, ultimately attracted by the ensured popularity of the Ethereum network. 

Alternatively, a developer might also consider the EVM-compatible Binance Smart Chain (BSC), which has found recent success in the realm of smart contracts. BSC remains noteworthy due to its popularity with recent larger applications despite a far lower market cap than Cardano.

This incredible surge of price may act as a resolution to the “chicken and the egg” scenario of lacking dApps due to lower volume and popularity, and lacking volume and popularity due to the lack of major dApps on the Cardano network. This bull market may very well put not only ADA’s future value in question, but Cardano’s future usage as a smart contract platform.

At the timing of writing, ADA remains just beneath its ATH and is holding steady, up 34% over the past 24 hours. Transaction volume continues to grow as ADA shows no signs of backing down.

Featured Image from Unsplash





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