Bitfinex Launches P2P Protocol for Data Streaming Dazaar

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Tue, 06/23/2020 - 15:19
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Vladislav Sopov
The Bitfinex cryptocurrency exchange ecosystem teased the launch of Tron's BitTorrent competitor. The Dazaar P2P data protocol will start operations on June 25th, 2020
Bitfinex Launches P2P Protocol for Data Streaming Dazaar
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The new product will act as a peer-to-peer data hosting service designed to eliminate the need of a single centralized storage of data.

Speed, scalability, decentralization

According to the official Bitfinex announcement, the new product is an extension to the HyperCore protocol. The team emphasizes that Dazaar will be highly focused on hyper-scalability, end-user privacy and decentralization.

Dazaar protocol for data sharing will be launched by Bitfinex
Image via Twitter

Dazaar has a lucrative scheme of monetization with no third-party intermediaries involved. It will be based on Lightning-powered micropayments.

A seller of data will receive a Dazaar Card to identify their information and provide access to it for buyers. The price of access will be customized by the seller.

Once the buyer finds a Dazaar Card with the information they are interested in, they send a reward to the seller. The seller confirms the receipt of the transaction and the data stream starts.

The protocol and the application

The Dazaar protocol will be accompanied by the Dazaar Vision application. It will allow users to broadcast video streams and, thus, monetize their social exposure. 

The product will require no sign-up or registration. Both releases will be live on June 25th, 2020.

As covered by U.Today Crypto News, Bitfinex recently initiated the migration of all Ether-based USDT transactions to the Plasma infrastructure by OMG Network (OMG).

Just like the upcoming Dazaar release, the migration will solve the scalability and speed issues related to the throughput of the Ethereum (ETH) blockchain.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250

News
Fri, 01/15/2021 - 18:02
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Vladislav Sopov
Ethereum 2.0 enthusiasts deposited whopping sum in its contract launched six weeks ago
2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250
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While crypto markets are trying to get out of the most painful correction in this bullish cycle, the Ethereum 2.0 deposit contract accomplishes another crucial milestone.

ETH2 deposit contract surpasses $3,000,000,000 level

According to leading Ethereum network observer Etherscan, the Ethereum 2.0 deposit contract (0x00000000219ab540356cBB839Cbe05303d7705Fa) allocated more than 2.5 million Ethers. New 32-ETH stakes are transferred to it every minute.

ETH2 deposit contract breaks above $3B
Image by Etherscan

As the correction of the Ethereum (ETH) price ended, ETH is changing hands at $1,225: the $1,250 level was too difficult for bulls to conquer. Meanwhile, even at press time, it is worth almost $40,000 to join the club of Ethereum 2.0 stakers.

Therefore, the USD-denominated value of assets locked in the contract surpassed $3 billion for the first time ever and keeps surging.

It should be noted that Ethereum 2.0’s deposit contract went live on Dec. 1, 2020, heralding the start of ETH2 Pase Zero or Beacon Chain, the inaugural stage of Ethereum 2.0.

Ethereum 2.0 “entry tickets” become really expensive

At press time, more than 52,267 addresses transferred money to the deposit contract.

Ironically, Black Thursday in Crypto (March 13, 2020) was the most convenient time to join Ethereum 2.0 staking with Ether at $95. Today, Ethereum (ETH) enthusiasts should pay 13 times more to have a minimum amount of Ethers required for staking.

Ethereum 2.0 is a proof of stake (PoS) iteration of the Ethereum (ETH) protocol. It replaces mining by staking and splits the whole Ethereum (ETH) network into several interconnected sub-chains (shards).

According to Staking Rewards analytical dashboard, annualized rewards for ETH staking are estimated between 10.4 and 10.6 percent.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)