πHey Nimbus Community,
Bridging smart contracts to the outside world and ensuring a solid data flow is essential in the blockchain world. So today's glossary term covers the entities that facilitate that communication: Oracles.
An oracle is essentially a bridge between the blockchain and the external sources. They can present key information, including the value of an asset (financial markets, NFTs). They can also be queried for information, from prices, and election results, to weather predictions.
They are used as triggers, getting smart contracts to initiate transactions when particular conditions are met in the real world.
Communication can be bi-directional, so oracles can be:
βοΈInbound β that brings real-world data to the blockchain
βοΈOutbound β that takes blockchain data to the off-chain world
Depending on the source where they get the data, oracles can be:
βοΈSoftware oracles β fetching data from internet-based services like databases or servers
βοΈHardware oracles β getting data from information-reading gadgets like barcode scanners
The oracle problem
Oracles raise a trust issue due to their massive power over smart contracts, given that the data they provide determines how smart contracts execute their functions. And the problem comes from the fact that centralized entities usually provide oracles.
A possible solution may come from decentralized oracles, like consensus oracles. These collect data from other oracles and try to determine if the information is correct.
Bridging smart contracts to the outside world and ensuring a solid data flow is essential in the blockchain world. So today's glossary term covers the entities that facilitate that communication: Oracles.
An oracle is essentially a bridge between the blockchain and the external sources. They can present key information, including the value of an asset (financial markets, NFTs). They can also be queried for information, from prices, and election results, to weather predictions.
They are used as triggers, getting smart contracts to initiate transactions when particular conditions are met in the real world.
Communication can be bi-directional, so oracles can be:
βοΈInbound β that brings real-world data to the blockchain
βοΈOutbound β that takes blockchain data to the off-chain world
Depending on the source where they get the data, oracles can be:
βοΈSoftware oracles β fetching data from internet-based services like databases or servers
βοΈHardware oracles β getting data from information-reading gadgets like barcode scanners
The oracle problem
Oracles raise a trust issue due to their massive power over smart contracts, given that the data they provide determines how smart contracts execute their functions. And the problem comes from the fact that centralized entities usually provide oracles.
A possible solution may come from decentralized oracles, like consensus oracles. These collect data from other oracles and try to determine if the information is correct.
π7
π Hey Nimbus Community,
π Tech update for you!
As many of you could already notice, the Swap Machine has recently been updated, i.e. the tech team has been working on the functionality to improve its performance and offer a more frictionless UX.
So, what's been updated?
π The Swap Machine functionality was refactored and, as a result, the speed of users' swaps and balance loading became faster and easier to be maintained.
Note that the updated Swap Machine will be implemented on the Platform, on Affiliate Program 4.0 leader dashboard and in the Nimbus mobile app π±
And it is worth mentioning that this is the first step towards the 2.0 Swap Machine version, which will result in the backend update (including smart contracts) and further functionality improvements.
π Tech update for you!
As many of you could already notice, the Swap Machine has recently been updated, i.e. the tech team has been working on the functionality to improve its performance and offer a more frictionless UX.
So, what's been updated?
π The Swap Machine functionality was refactored and, as a result, the speed of users' swaps and balance loading became faster and easier to be maintained.
Note that the updated Swap Machine will be implemented on the Platform, on Affiliate Program 4.0 leader dashboard and in the Nimbus mobile app π±
And it is worth mentioning that this is the first step towards the 2.0 Swap Machine version, which will result in the backend update (including smart contracts) and further functionality improvements.
π₯7π6β€1
π Hey Nimbus Community,
Just a quick update for you π
All rewards related to the Smart Staker n-NFT contest were sent to the wallets of our winners π
There are more contests to come, so stay tuned!
Just a quick update for you π
All rewards related to the Smart Staker n-NFT contest were sent to the wallets of our winners π
There are more contests to come, so stay tuned!
π6
π Hey Nimbus community,
π Despite the market volatility, companies continue to adopt crypto products and services. Among the latter, Starbucks is launching a Web3-based loyalty program to expand its approach to the "digital community". Do you think we will see Starbucks coins one day?
π Tether FUD didnβt make the cut. According to "Whale Alert", after a three-month steady decline in issuance, Tether suddenly began to ramp up its supply of stablecoin. Astonishing 1 billion USDT were minted in one fell swoop. BTW, whatβs your preferred stablecoin?
π Solana is under attack. The preliminary estimates suggest that the platform's exploit has affected more than 5,000 cryptocurrency wallets. The malicious actors somehow managed to compromise the private keys of digital asset owners. Store your assets on cold wallets!
π³ Bye-bye, Michael Saylor! CEO of MicroStrategy is set to step down and assume a new role as executive chairman. The good news is that the company hasnβt sold any of its bitcoins even despite the cumulative impairment losses of $1.989 billion.
π Nansen's study suggests that crypto users spent 963,227 ETH ($2.7 billion) in the first six months of 2022 to issue NFTs on the Ethereum blockchain. By comparison, BNB Chain NFTs were issued for about $107 million and $77 million on Avalanche.
π Despite the market volatility, companies continue to adopt crypto products and services. Among the latter, Starbucks is launching a Web3-based loyalty program to expand its approach to the "digital community". Do you think we will see Starbucks coins one day?
π Tether FUD didnβt make the cut. According to "Whale Alert", after a three-month steady decline in issuance, Tether suddenly began to ramp up its supply of stablecoin. Astonishing 1 billion USDT were minted in one fell swoop. BTW, whatβs your preferred stablecoin?
π Solana is under attack. The preliminary estimates suggest that the platform's exploit has affected more than 5,000 cryptocurrency wallets. The malicious actors somehow managed to compromise the private keys of digital asset owners. Store your assets on cold wallets!
π³ Bye-bye, Michael Saylor! CEO of MicroStrategy is set to step down and assume a new role as executive chairman. The good news is that the company hasnβt sold any of its bitcoins even despite the cumulative impairment losses of $1.989 billion.
π Nansen's study suggests that crypto users spent 963,227 ETH ($2.7 billion) in the first six months of 2022 to issue NFTs on the Ethereum blockchain. By comparison, BNB Chain NFTs were issued for about $107 million and $77 million on Avalanche.
π6
πHey Nimbus Community,
Getting efficient market insight is crucial in trading in general, and the crypto field is no exception. So today's glossary covers an element that helps users get real-time information on what's being exchanged: The Order Book
What is an order book?
The order book is a list of the exchange orders that are currently open for an asset. It's an electronic documentation of the asset's activity on a particular trading platform, organized by its value.
An order book contains pieces of key information connected to an asset. There are special sections for both counterparties and a bid and ask section.
Users place an offer on the left side of the book and asks are on the right side. There are exchange values from multiple counterparties on both sides. You can spot offers in green color and asks in red. As for the interaction between users at either side of the exchange, it's displayed using charts and tables.
Order books are helpful because they help measure the interest of involved counterparties at particular value levels. They can use that data to get an insight into potential support and resistance levels.
A larger number of bid orders at a particular level can point to a level of support. On the other hand, more exchange orders can point to an area of resistance. The imbalance in the order book, paired with other analysis methods, can help users estimate the market direction.
Getting efficient market insight is crucial in trading in general, and the crypto field is no exception. So today's glossary covers an element that helps users get real-time information on what's being exchanged: The Order Book
What is an order book?
The order book is a list of the exchange orders that are currently open for an asset. It's an electronic documentation of the asset's activity on a particular trading platform, organized by its value.
An order book contains pieces of key information connected to an asset. There are special sections for both counterparties and a bid and ask section.
Users place an offer on the left side of the book and asks are on the right side. There are exchange values from multiple counterparties on both sides. You can spot offers in green color and asks in red. As for the interaction between users at either side of the exchange, it's displayed using charts and tables.
Order books are helpful because they help measure the interest of involved counterparties at particular value levels. They can use that data to get an insight into potential support and resistance levels.
A larger number of bid orders at a particular level can point to a level of support. On the other hand, more exchange orders can point to an area of resistance. The imbalance in the order book, paired with other analysis methods, can help users estimate the market direction.
π13
βοΈHey Nimbus community,
π The PoS is coming! Ethereum developers completed the network merger in the Goerli testnet - it was the final rehearsal before the second cryptocurrency's transition to the new algorithm. The key date to bear in mind is September 19, 2022. Will ETH skyrocket?
π₯΄ Opportunistsβ¦ The former head of British CMA Lord David Currie plans to sue four cryptocurrency exchanges for up to Β£10 billion. In his opinion the delisting of Bitcoin SV by Binance, Kraken, Bittylicious and Shapeshift caused huge losses for crypto holders.
π Not the best quarter for Coinbase: trading volume and transaction revenue each down by 30% and 35%; net revenue down 31% QoQ to $803 million; total operating expenses up 8% to $1.9 billion. Still, the company remains optimistic about the future.
π± Authorities in Iran are preparing to allow the employment of cryptocurrencies for international settlements. Iranian companies will be enabled to use digital currencies with partners in other countries. In other words, if you see the opportunity, use it.
π» A new campaign intends to give a wider base of investors a stake in some of the most valuable NFTs by fractionalizing ownership. Unique Network, will split the ownership of a CryptoPunk to more than 56,000 addresses that have signed up for a share. Would you join?
π The PoS is coming! Ethereum developers completed the network merger in the Goerli testnet - it was the final rehearsal before the second cryptocurrency's transition to the new algorithm. The key date to bear in mind is September 19, 2022. Will ETH skyrocket?
π₯΄ Opportunistsβ¦ The former head of British CMA Lord David Currie plans to sue four cryptocurrency exchanges for up to Β£10 billion. In his opinion the delisting of Bitcoin SV by Binance, Kraken, Bittylicious and Shapeshift caused huge losses for crypto holders.
π Not the best quarter for Coinbase: trading volume and transaction revenue each down by 30% and 35%; net revenue down 31% QoQ to $803 million; total operating expenses up 8% to $1.9 billion. Still, the company remains optimistic about the future.
π± Authorities in Iran are preparing to allow the employment of cryptocurrencies for international settlements. Iranian companies will be enabled to use digital currencies with partners in other countries. In other words, if you see the opportunity, use it.
π» A new campaign intends to give a wider base of investors a stake in some of the most valuable NFTs by fractionalizing ownership. Unique Network, will split the ownership of a CryptoPunk to more than 56,000 addresses that have signed up for a share. Would you join?
π6
πHey Nimbus Community,
Risk is an inherent part of any business, and the volatile crypto environment is no exception. So finding ways to deal with risk is essential.
Todayβs glossary covers this particular aspect: Risk Mitigation
The principle behind risk mitigation is that of getting ready for all potential risks. It involves evaluating the impact of every possible risk and prioritize-planning accordingly. Instead of finding ways to avoid risk, it concentrates on limiting the effects.
Risk mitigation vs. risk management
Risk management means generally assessing and handling the risks. Risk mitigation is part of this practice, and it targets lowering exposure to risk but also reducing the effects. It includes creating options and planning actions that increase opportunities and minimize threats.
In crypto trading, the risk is represented by the loss of deposited funds, so traders need to be able to predict possible losing events and control losses to the greatest extent possible.
Risk mitigation includes strategies like:
β Asset allocation β the golden rule is not to invest more than you can lose
β The risk/reward ratio
β Not using the entire portfolio
β Diversification
β Avoid panic dumping and emotional decisions
Of course, achieving risk mitigation and optimal yields is the best outcome. Thatβs the goal Nimbus followed when developing Nimbus NFT Smart LP. It works by getting the assets you supply automatically distributed across dApps, so you immediately start to acquire rewards and save time and gas fees.
Risk is an inherent part of any business, and the volatile crypto environment is no exception. So finding ways to deal with risk is essential.
Todayβs glossary covers this particular aspect: Risk Mitigation
The principle behind risk mitigation is that of getting ready for all potential risks. It involves evaluating the impact of every possible risk and prioritize-planning accordingly. Instead of finding ways to avoid risk, it concentrates on limiting the effects.
Risk mitigation vs. risk management
Risk management means generally assessing and handling the risks. Risk mitigation is part of this practice, and it targets lowering exposure to risk but also reducing the effects. It includes creating options and planning actions that increase opportunities and minimize threats.
In crypto trading, the risk is represented by the loss of deposited funds, so traders need to be able to predict possible losing events and control losses to the greatest extent possible.
Risk mitigation includes strategies like:
β Asset allocation β the golden rule is not to invest more than you can lose
β The risk/reward ratio
β Not using the entire portfolio
β Diversification
β Avoid panic dumping and emotional decisions
Of course, achieving risk mitigation and optimal yields is the best outcome. Thatβs the goal Nimbus followed when developing Nimbus NFT Smart LP. It works by getting the assets you supply automatically distributed across dApps, so you immediately start to acquire rewards and save time and gas fees.
π7
π Hey Nimbus community;
π₯Ή Who is Satoshi Nakamoto? A new film about Bitcoin creator(s) will be crowdfunded through a token sale. The film movie highlight some of the searchersβ theories about the person (or people) behind the pseudonym. Do you think the identity will be ever revealed?
π According to Blockdata reports, between September 2021 and June 2022, Google's parent company Alphabet invested $1.5 billion in blockchain projects like Fireblocks, Dapper Labs, Voltage, and Digital Currency Group. Can you imagine Google coin one day?
π» Arthur Hayes published an essay titled "ETH-flexive", suggesting that after the transition to PoS, the cryptocurrency issue will decrease from 13,000 ETH to 1000-2000 ETH per day. Even if the transition to PoS fails, ETH price shouldnβt fall below $800-$1000.
π€‘ Signal messenger fell victim to hackers - information of ~2000 users was leaked. According to the developers, it was the most secure messenger in the world. The breach was found in Twilio, a company providing phone number verification services.
π Binance is losing ground. Brazil's largest broker with 3.6 million clients, has launched its own cryptocurrency trading platform - users can currently buy and sell Bitcoin and Ethereum, but the company plans to add 10 other digital assets in the coming months.
π₯Ή Who is Satoshi Nakamoto? A new film about Bitcoin creator(s) will be crowdfunded through a token sale. The film movie highlight some of the searchersβ theories about the person (or people) behind the pseudonym. Do you think the identity will be ever revealed?
π According to Blockdata reports, between September 2021 and June 2022, Google's parent company Alphabet invested $1.5 billion in blockchain projects like Fireblocks, Dapper Labs, Voltage, and Digital Currency Group. Can you imagine Google coin one day?
π» Arthur Hayes published an essay titled "ETH-flexive", suggesting that after the transition to PoS, the cryptocurrency issue will decrease from 13,000 ETH to 1000-2000 ETH per day. Even if the transition to PoS fails, ETH price shouldnβt fall below $800-$1000.
π€‘ Signal messenger fell victim to hackers - information of ~2000 users was leaked. According to the developers, it was the most secure messenger in the world. The breach was found in Twilio, a company providing phone number verification services.
π Binance is losing ground. Brazil's largest broker with 3.6 million clients, has launched its own cryptocurrency trading platform - users can currently buy and sell Bitcoin and Ethereum, but the company plans to add 10 other digital assets in the coming months.
π6π₯2
Dear Nimbus Community,
Though it's important to keep up-to-date in crypto, sometimes the flood of news is difficult for even insiders to trackπ€―
Thats why weve decided to introduce a new section, where weβll be highlighting the most important and hyped crypto news around.
So, here are the hottest crypto happenings for Aug, 22π₯
π The world's largest Ethereum mining pool will not support PoW fork post-Merge.
π Uniswap has blacklisted 253 crypto addresses linked to hacks or sanctions.
π Samsung Securities has applied for preliminary approval to establish a cryptocurrency exchange in South Korea.
π Music icon Miley Cyrus has filed two trademark applications for the metaverse.
πSouth Korea may levy up to 50% βgift taxβ on crypto airdrops under current law.
Which one amazed you most? Comment π
Though it's important to keep up-to-date in crypto, sometimes the flood of news is difficult for even insiders to trackπ€―
Thats why weve decided to introduce a new section, where weβll be highlighting the most important and hyped crypto news around.
So, here are the hottest crypto happenings for Aug, 22π₯
π The world's largest Ethereum mining pool will not support PoW fork post-Merge.
π Uniswap has blacklisted 253 crypto addresses linked to hacks or sanctions.
π Samsung Securities has applied for preliminary approval to establish a cryptocurrency exchange in South Korea.
π Music icon Miley Cyrus has filed two trademark applications for the metaverse.
πSouth Korea may levy up to 50% βgift taxβ on crypto airdrops under current law.
Which one amazed you most? Comment π
π9
Hey! Are you a newbie here? Let us show you something ππ€«
For you not to get lost, we`ve prepared TOP 5 facts about Nimbus Platform!
Which fact strikes you most? Tell us, and don't forget to hit β€οΈ on Twitter and share with your friends!
π https://twitter.com/nmbplatform/status/1561810352169418752
For you not to get lost, we`ve prepared TOP 5 facts about Nimbus Platform!
Which fact strikes you most? Tell us, and don't forget to hit β€οΈ on Twitter and share with your friends!
π https://twitter.com/nmbplatform/status/1561810352169418752
π10π₯4β€1
Finish the sentence:
A crypto trader would never __________.
π Let us know in the comments on Twitter! Top comment gets a shoutout!
π https://twitter.com/nmbplatform/status/1562044222089338880
A crypto trader would never __________.
π Let us know in the comments on Twitter! Top comment gets a shoutout!
π https://twitter.com/nmbplatform/status/1562044222089338880
π4
Why? #DeFi. Here is a mini π§΅
π
1. DeFi is transparent
You may track everything (from tokenomics design to state of balance) online in blockchain. Thus you can see where the big players have placed their bets/the risk is concentrated.
2. DeFi allows self-governance
If there is a problem, stakeholders can work together toward the common goal and find the solution BEFORE it's too late.
3. DeFi has a sustainable economic system
In the midst of 3AC crisis, major DeFi protocols such as Aave, Compound, and MakerDAO functioned smoothly.
Which of the DeFi feature attracts you most? Write the year DeFi excited you for the first time
To make more people aware of what DeFi is, LIKE and RT π
π https://twitter.com/nmbplatform/status/1562084767537020928
π
1. DeFi is transparent
You may track everything (from tokenomics design to state of balance) online in blockchain. Thus you can see where the big players have placed their bets/the risk is concentrated.
2. DeFi allows self-governance
If there is a problem, stakeholders can work together toward the common goal and find the solution BEFORE it's too late.
3. DeFi has a sustainable economic system
In the midst of 3AC crisis, major DeFi protocols such as Aave, Compound, and MakerDAO functioned smoothly.
Which of the DeFi feature attracts you most? Write the year DeFi excited you for the first time
To make more people aware of what DeFi is, LIKE and RT π
π https://twitter.com/nmbplatform/status/1562084767537020928
π9
The hottest crypto happenings for Aug, 23π₯
π PayPal joins Coinbaseβs TRUST (Travel Rule Universal Solution Technology) network. The move is an attempt by PayPal to comply with the financial industryβs βTravel rule.β
π Pavel Durov, the founder of Telegram, has floated the idea of a marketplace that could utilize βNFT-like smart contractsβ to auction highly-sought after usernames.
π Nike becomes the worldβs highest-earning brand from sales of NFTs with a revenue of whopping $185.32 million. Nikeβs total transactions are over 67,000.
π DBS bank reports 4x growth in Bitcoin buys on DDEx exchange in June.
π Binance has announced a zero fee trading for ETH / BUSD pair starting on August 26th.
Which one amazed you most? Comment π
π PayPal joins Coinbaseβs TRUST (Travel Rule Universal Solution Technology) network. The move is an attempt by PayPal to comply with the financial industryβs βTravel rule.β
π Pavel Durov, the founder of Telegram, has floated the idea of a marketplace that could utilize βNFT-like smart contractsβ to auction highly-sought after usernames.
π Nike becomes the worldβs highest-earning brand from sales of NFTs with a revenue of whopping $185.32 million. Nikeβs total transactions are over 67,000.
π DBS bank reports 4x growth in Bitcoin buys on DDEx exchange in June.
π Binance has announced a zero fee trading for ETH / BUSD pair starting on August 26th.
Which one amazed you most? Comment π
π7π₯3
Hi! Β‘Hola! Hallo! NΓn hΗo! ΠΡΠΈΠ²ΡΡ!π
π₯° Nimbus loves its international community!
Where are you from? Let's get acquainted with each other π€
Comment with the flag of your country on Twitter π
π https://twitter.com/nmbplatform/status/1562155759571533824
π₯° Nimbus loves its international community!
Where are you from? Let's get acquainted with each other π€
Comment with the flag of your country on Twitter π
π https://twitter.com/nmbplatform/status/1562155759571533824
π9
Poll timeπ
When finding out about a new DeFi project, what is the MAIN factor you put into your decision to invest? Curiousπ€
π₯Team
β€οΈ Tech
π Tokenomics
π€© Community
Come and vote on Nimbus Twitter too π:
https://twitter.com/nmbplatform/status/1562417104678273025
When finding out about a new DeFi project, what is the MAIN factor you put into your decision to invest? Curiousπ€
π₯Team
β€οΈ Tech
π Tokenomics
π€© Community
Come and vote on Nimbus Twitter too π:
https://twitter.com/nmbplatform/status/1562417104678273025
π10π₯3β€1
The world of crypto can be a difficult one to navigate, but here at Nimbus we want to make complex things simple for youπ§
Today we`d like to talk about The Ethereum Merge, which is one of the most powerful catalysts in crypto history, and it is fast approachingπ
As we inch closer to the end of Ethereum Proof-of-work (PoW), let's address top important characteristics of post-Merge Ethereum:
βͺοΈAfter the Merge, Ethereum will use a PoS (Proof-of-Stake) consensus mechanism instead of PoW.
This makes it a LOT more energy efficient. Specifically, energy consumption will drop by ~99.95%
βͺοΈ Issuance will go from 5.4M ETH/year to 0.5M (90% reduction)
βͺοΈ Total ETH supply growth will go from +1.9% per year to -2.2%
βͺοΈ ETH will become deflationary - or at least a lot less inflationary.
βͺοΈ More decentralization (potentially) since PoS is more accessible than PoW.
βͺοΈ Staking rewards will increase from ~5% to 7-12% after the merge.
βͺοΈ Validators won't need to sell ETH to cover electricity costs anymore.
βΌοΈ It's important to note that the gas fees and congestion problems on Ethereum will not be solved by the Merge. We'll have to wait for sharding (2023) for that.
Many Ethereum community members are against the move to PoS, arguing itβs less secure than PoW, used by Bitcoin, with speculations of a potential hard fork, similar to a previous hard fork that led to the split between Ethereum and Ethereum Classic.
Do you think itβll push the $ETH price to the moon?π§
Yes/No
Today we`d like to talk about The Ethereum Merge, which is one of the most powerful catalysts in crypto history, and it is fast approachingπ
As we inch closer to the end of Ethereum Proof-of-work (PoW), let's address top important characteristics of post-Merge Ethereum:
βͺοΈAfter the Merge, Ethereum will use a PoS (Proof-of-Stake) consensus mechanism instead of PoW.
This makes it a LOT more energy efficient. Specifically, energy consumption will drop by ~99.95%
βͺοΈ Issuance will go from 5.4M ETH/year to 0.5M (90% reduction)
βͺοΈ Total ETH supply growth will go from +1.9% per year to -2.2%
βͺοΈ ETH will become deflationary - or at least a lot less inflationary.
βͺοΈ More decentralization (potentially) since PoS is more accessible than PoW.
βͺοΈ Staking rewards will increase from ~5% to 7-12% after the merge.
βͺοΈ Validators won't need to sell ETH to cover electricity costs anymore.
βΌοΈ It's important to note that the gas fees and congestion problems on Ethereum will not be solved by the Merge. We'll have to wait for sharding (2023) for that.
Many Ethereum community members are against the move to PoS, arguing itβs less secure than PoW, used by Bitcoin, with speculations of a potential hard fork, similar to a previous hard fork that led to the split between Ethereum and Ethereum Classic.
Do you think itβll push the $ETH price to the moon?π§
Yes/No
π₯9π4