I will learn about one new cryptocurrency every day for at least 30 days.
Blockchain game company.
“We believe the blockchain should be invisible in our games. We use simple game mechanics that all players can enjoy, whether or not they consider themselves to be blockchain pros.”
GALA is their Ethereum token.
Much like Dogecoin, Shiba is a meme coin.
It’s biggest difference between itself and Dogecoin is that Dogecoin is a Bitcoin fork. It has its own blockchain, miners and nodes. Shiba is an Ethereum Token.
SHIB is their main currency. It started with a supply of one quadrillion. Then the founder gave 50% of that to Uniswap, a decentralized crypto exchange. Also Vitalik Buterin burned 410 trillion tokens.
In addition to that, they also have LEASH which supposedly has “rewards” but there hasn’t been any so far it seems. It has a very limited supply of “107,646 tokens”.
Its last token is BONE. It has 250 million tokens. The main purpose of this is a governance token. Owning BONE would give you the ability to vote on decisions regarding the Shiba projects thanks to their Doggy DAO.
Its main advantage over Dogecoin is that they have an ecosystem around them - the 3 tokens with different benefits, their NFT project(s) such as Shiba Artist Incubator, their metaverse endeavors. Being a token instead of a fork of a coin gives the developers less technical debt (having to maintain/update code for a blockchain, dealing with miners nodes). Instead, they let Ethereum focus on that and they just maintain their token’s contract code. It’s community run thanks to the DAO. The stronger the community is, the more they could branch out.
It sounds similar to Lens in terms of ‘digital identity / credentials’. Lens sounds much more fully featured and promising for social communities. Galxe has these weird “Spaces” and “Campaigns”.
They have a developer API for devs to integrate into your apps.
They have an OAT - On-chain Achievement Token that can be granted to users in your community as a reward. They’re an NFT more or less.
They also mention ‘Galxe NFT’ which I’m not sure is the same thing. They have different ways to gamify your NFTs such as ‘Single drop NFTs’ (whatever that is) and mystery box campaigns, as well as loyalty points.
You may also implement their Galxe ID (web3 profile). You can implement Galxe Vote too which would allow for building custom governance systems.
“Distributed GPU rendering on the blockchain”
Founded by Jules Urbach, “a pioneer in computer graphics, streaming, and 3D rendering”.
“The Render Network is designed to connect users looking to perform render jobs with people who have idle GPUs to process the renders. Owners would connect their GPUs to the Render Network in order to receive and complete rendering jobs using OctaneRender. Users would send RNDR to the individual performing the render work and OTOY would receive a small percentage of RNDR for facilitating the transaction and running the Render Network.”
The company that owns the cloud rendering software is OTOY.
XRP has extrmely small transactions. An average transaction cost of $0.0013927.
It achieves this through not using proof of work and instead using a relatively small network or organizations (banks) to do the transaction validation. This makes XRP less decentralized than other cryptocurrencies. Also it depends on a for-profit organization, Ripple for its development.
Validators are elected into the XRP UNL - Unique Node List. This is overseen by Ripple, the company.
Resources:
- Ripple (XRP): A beginner’s guide to the digital asset built for global payments
Polygon is a layer 2 solution for Ethereum. You run smart contracts on their network before going up to the Eteherum block chain. Its focus is scalability and they have partnerships with many large companies.
Transaction speed:
Bitcoin Lightening Network is an off-chain solution, meaning the transactions do not happen on the main Bitcoin blockchain. They eventually end up there but not at the beginning.
Example Lightening Transaction:
Resources:
Staking is a concept for proof of stake coins. You are able to stake your coins as collateral for validating transactions. You are then rewarded just like with mining.
To mine yourself with your own rig, you must stake at least 32 ETH. But there are pools of people with combined funds that allow you to earn from staking without that minimum. [Rocket Pool](https://rocketpool.net/) is a popular one and all you do is swap your ETH for rETH.
Yield farming is lending crypto. It has high risks but higher reward and staking.
Liquidity mining is when you lend a currency pair - ex ETH/SHIB. You earn interest. You also get a token as a receipt which can be sold to get your money back.
Resources:
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