Proof-of-Work and Yield Farming: Binance and Poolin Launch Tokens Backed by B...
There’s a new type of token gaining popularity in the crypto space with the launch of coins that are backed by a specific amount of proof-of-work (PoW) hashrate. On January 6, 2021, Binance launched a new project called the bitcoin standard hashrate token (BTCST), a coin that represents 0.1 terahash (TH/s). Furthermore, the mining operation Poolin has also revealed a hashrate token called pBTC35A and each token represents 1 TH/s hashrate with pre-determined SHA256 processing power. Tokens Backed by Proof-of-Work The Bitcoin (BTC) network has seen the protocol’s hashrate....
Related News
Yield farming is one of crypto’s 2020 buzzwords, but what does it mean? Here’s a beginner’s guide explaining the basics — and the complex. What are the key challenges and opportunities for yield farming?Most DeFi applications are currently based on the Ethereum blockchain, creating some critical challenges for yield farmers. Ahead of the Ethereum 2.0 upgrade, the network is struggling with a lack of scalability. As yield farming becomes more popular, more transactions clog up the Ethereum network, leading to slow confirmation times and spiraling transaction fees. This situation has led to....
Yield farming is a still-nascent crypto strategy to high return on investment (ROI) on depositing cryptocurrencies, including bitcoin, ethereum, Binance coin (BNB), and stablecoins. While traditional investments in banks pay a quarter percent, yield farming can give triple-digit % yields. Yup! that’s right; some dapps are offering 100% plus yields. However, one that has left […]
Today, we will talk about one of the most important things you should be thinking about and researching right now: crypto and the blockchain – and specifically, yield farming. Now, why do you think that this is so important? Cryptocurrency is going to forever change the way that we interact with the world and the Internet. Plus, what blockchain is really introducing is a revolution of sovereignty (Source: IN Groupe). It is certainly going to put the power back in your own hands. Many feel that this may be the single greatest moment of wealth transfer that any of us are going to live....
Yield farming was the defi craze of summer 2020, taking the nascent industry by storm and ushering in new ways to distribute tokens, engage communities, and strengthen network effects. After peaking in October, when yield farms helped send Ethereum network fees to record highs, the yield farming craze abated slightly due to saturation and diminished […]
EasyFi Network, the universal layer 2 DeFi lending protocol known for scalability, composability and adoption has announced the launch of its high yield farming program. Launched in association with QuickSwap, this one-of-a-kind LP farming and staking program went live on August 4, 2021. The collaboration between EasyFi Network and QuickSwap has enabled the introduction of two programs where EZ token holders can create liquidity pools with USDC and QUICK tokens on Polygon Network’s QuickSwap Exchange. They can then use the LP tokens to farm QUICK tokens. Meanwhile, the partnership also....