Why Dvision Network Migration to Binance Smart Chain Is a Game Changer

Why Dvision Network Migration to Binance Smart Chain Is a Game Changer

The leading blockchain Virtual Reality (VR) Metaverse platform Dvision Network is set to migrate to the Binance Smart Chain network through the cross-chain bridge. Dvision Network has changed the blockchain space by offering users an ecosystem that encompasses NFTs and virtual reality. The migration to Binance Smart Chain could prove to be a masterstroke by the cutting-edge NFT Metaverse platform.

Binance Smart Chain Offers Wide Range of Possibilities

Dvision has already announced their readiness to launch on BSC in their blog post and also started a countdown in their website, which pinpoints to the official launch of the bridge on 20th May.

Currently, Dvision Network is based on the Ethereum network, and despite the popularity of Ethereum, it has been plagued by significant problems. Ethereum current architecture is not readily scalable, which has led to congestion on its network leading to high transaction fees.

This problem is quite crucial for Dvision Network, set to launch an NFT marketplace in 2021. Binance Smart Chain has emerged as an alternative to Ethereum and has attracted the crypto community since its launch in the second half of 2020.

Binance Smart Chain is designed to be scalable and crucially offers low transaction fees with the same efficiency as Ethereum. BSC has overtaken Ethereum to become the largest ecosystem in the blockchain industry and outpaces its rival transaction volume. Also, BSC is compatible with the popular Ethereum Virtual Machine, making it easy to migrate projects from Ethereum to Binance.

Several ethereum projects have begun to migrate to BSC. Dvision Network is seeking to expand its ecosystem with the migration to Binance Smart Chain.

Dvision Network to Offer BEP-20 DVI Token

One of the major ways that Dvision Network wants to leverage the Binance Smart Chain is by launching a BEP-20 version of DVI Token. The token will have similar functionality to the current ERC20 token and allow users to access features within the BSC ecosystem. DVI holders will be able to stake the BEP-20 tokens to earn yields and make swaps on popular BSC exchange PancakeSwap.

The highly scalable nature of BSC means that Dvision can build Dapps and other products within a blockchain that has quick confirmation times and low transaction fees. BSC community will also be able to access a decentralized virtual reality world and enjoy the benefits of purchasing virtual space using the DVI BEP-20 Tokens.

To further ensure interoperability between the two blockchain networks, Dvision Network has built a cross-chain bridge in cooperation with Curvegrid. The Bridge is built on Cuvergrid’s MultiBaas blockchain allowing smooth and convenient swaps of DVI from BEP20 to ERC20 and vice-versa.

With this Bridge, it will be easy for DVI holders to swap their tokens between the blockchains to take advantage of features. The cross-chain Bridge is intuitive and allows anyone to swap between the two tokens within a few steps.

More Developments for Dvision Network

Dvision Network team is still working on a number of products that are expected to be launched during the Q2-Q3 2021. One of these products is the highly anticipated NFT exchange system expected to herald the development of NFTs on its platform.

Dvision is regarded as one of the innovative blockchain platforms and recently auctioned a limited release of NFT characters. Its native token DVI has also been listed on top platforms like Bithumb and Coinone in recent months.

The migration to the BSC ecosystem could prove to be a major game-changer for the platform in its quest for adoption. To learn more about Dvision Network visit the website.


This is a sponsored post. Learn how to reach our audience here. Read disclaimer below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Ethereum bulls maintain control ahead of Friday’s $730M ETH options expiry

What can I do to prevent this in the future?

If you are on a personal connection, like at home, you can run an anti-virus scan on your device to make sure it is not infected with malware.

If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices.

Tether Reaches 30 Billion USDT Issued on Tron

Tether Reaches 30 Billion USDT Issued on Tron

Tether, the largest stablecoin by market cap, has reached a milestone by issuing 30 billion USDT on top of the Tron blockchain. While the stablecoin is now present on several chains, including BSC (Binance Smart Chain) most of it is now on Tron due to the blockchain’s low transaction fees, which make using it easy and cheap.

Tether Reaches 30 Billion USDT Issued on Tron

Tether, the biggest stablecoin in the market, has reached a volume of 30 billion USDT issued as TRC20 tokens on the Tron blockchain, being this the highest the stablecoin has issued on top of any chain so far. The announcement was made by Tron’s founder Justin Sun via Twitter, where he congratulated the company for reaching this milestone.

Now, according to official information taken from Tether’s website, there are almost 60 billion USDT issued, with Tron as the dominant chain. Ethereum is now second, with approximately 27 billion USDT issued as ERC20 tokens. Omni, the bitcoin-based protocol, still has more than a billion USDT issued on top of it. While Tether has gone multichain since a long time ago, other chains haven’t picked up steam, being Solana the fourth one, with almost 200 million USDT issued.

The issuance of Tether has ramped up since the bull market phase started, going from 10 billion USDT in August 2020 to almost 60 billion USDT today, according to data from Glassnode. This means that the quantity of Tether available in the market grew five times in less than a year, explosive growth for such a short period.

The Not so Slow Migration

Tether launched on Tron in April 2019, but it failed to gain notoriety until this year when it slowly took some of the market valuation from its Ethereum counterpart. Users were attracted to the Tron version of tether (USDT) due to its almost free, instant transactions. Ethereum started facing congestion issues this year, and users have had to wait hours for costly transactions. However, even with these problems, tether is still one of the most used currencies in decentralized finance (defi) platforms, with hundreds of million staked in protocols like COMP and AAVE.

The dominance of tether in the cryptocurrency stablecoin market is impressive, even with all the legal troubles and the controversy it has faced. The currency was recently listed in Coinbase, a big achievement even after being fined $18.5 million by the NY Attorney General Office in a settlement in February.

What do you think about Tether reaching 30 billion USDT issued on Tron? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Price analysis 5/13: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, BCH, LTC, UNI

What can I do to prevent this in the future?

If you are on a personal connection, like at home, you can run an anti-virus scan on your device to make sure it is not infected with malware.

If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices.

After The Crash, Can Bitcoin’s Price Repeat This 2017 Bullish Pattern?

The crypto market has been struck by the bears. In 24-hours, Bitcoin and the major cryptocurrencies have seen a price correction. The king itself dropped almost 20% to the mid $40,000 range before showing sing of a recovery.

At the time of writing, BTC trades at $48,546 with a 12.3% in the daily chart a 3.6% loss in the 1-hour chart. Higher timeframes make up for a bearish outlook. The 7-day and 30-day charts are in the red with a 15.7% and 19.2% loss, respectively.

BTC BTCUSD
BTC with important losses in the daily chart. Source: BTCUSD Tradingview

The market seems to have been bombarded by several bearish news, now taking its toll on price action. Traders went from greed to fear in a short span of time. BTC’s futures operators took on short positions, expecting the price to dip further, as Moskovski Capital CIO Lex Moskovski stated.

Bitcoin BTC BTCUSD
Source: Glassnode via Lex Moskovski

The market was net-short with funding rates across all exchanges platform on a negative, for the first time in May. Data from CryptoMeter points suggest that the short positions are dominating the market as BTC’s price climbs down to critical support at $47,000.

In the past day, Short positions worth over $1 billion have been recorded. Binance holds a big portion of these positions with an estimated worth of $383.9 million versus 359.4 million on the other side of the trade.

The bearish sentiment is backed by a spike in BTC inflows into exchanges. Around 15,662 BTC were moved to these platforms in the last hour. Moskovski said the following:

Depositing doesn’t necessarily mean selling. It can easily be spoofing. As well, as an internal transfer that GN hasn’t caught.

Bitcoin BTC BTCUSD
Source: Glassnode via William Clemente

This could provide the bears with fresh ammunition. However, analyst William Clemente supports Moskovski and claims that the inflows remain unspent and could be exchanged’s internal transfers.

Bitcoin’s Price Unhurt By Elon Musk FUD

Anonymous Trader Daan Crypto shared a BTC’s price-ranging formation that presents similarities with the current price action. At that moment, Bitcoin went through a correction and reach the yearly Volume Weighted Average Price, a benchmark that measures the average trading volume and price oscillation, and bounced back towards an all-time high.

Bitcoin BTC BTCUSD
Source: DaanCrypto

However, current price action seems to be favoring the bears, at least in the short term. Senior Commodity Strategist for Bloomberg Intelligence, Mike McGlone, believes there is more upside in BTC’s price compared to Elon Musk-led company Tesla.

Musk’s statements on BTC mining as a detrimental activity for the environment are believed to have triggered the sell-off. In the long term, Bitcoin maintains its bullish outlook, as McGlone stated:

Ironic Tesla Shift Doesn’t Hurt Bitcoins Relative Upper Hand. Tesla CEO Elon Musk’s curious move to suspend purchases using Bitcoin doesn’t shake our call that the crypto has the upper hand vs. the electric-vehicle maker’s shares.

Binance Faces DOJ Probe as Investigators Target Crypto Money Laundering and Tax Evasion

Binance Faces DOJ Probe as Investigators Target Crypto Money Laundering and Tax Evasion

Binance, one of the largest cryptocurrency exchanges in the world, is now being probed by the Department of Justice (DOJ) under the assumption that it could be immersed in money laundering transactions. The investigation will also include inquiries from the Internal Revenue Service (IRS), which has been recently investigating a number of crypto trading platforms.

Binance Probed by US Department of Justice

Today, it was revealed that Binance, one of the most popular cryptocurrency exchanges in the world, is being the subject of an investigation related to transactions involving alleged money laundering, according to an article from Bloomberg. The U.S. Department of Justice (DOJ) will be making inquiries to people with knowledge on the inner workings of the company stealthily, due to the confidentiality of the probe. The inquiry will be bolstered by an investigation by Chainalysis, which states that more than $700 million of illicit funds have gone through the exchange.

The IRS is also involved in the probe and will be investigating possible tax offenses involving the exchange and its customers. Binance is a global company that restricts access to U.S. citizens, allowing Americans to trade using its alternate platform Binance U.S. only. However, Changpeng Zhao, CEO of the exchange, has repeatedly stated his company doesn’t have headquarters because Bitcoin doesn’t have a headquarters.

The market reacted very poorly to this news, with most of the top cryptocurrencies dumping prices down double digits. Bitcoin fell 10% after the news, continuing the negative run it experienced after Tesla announced it would stop accepting bitcoin (BTC) as payment for its vehicles due to environmental considerations.

The Exchange Answers

Binance reacted fast to this news and Jessica Jung, the firm’s spokeswoman responded. She stated:

We take our legal obligations very seriously and engage with regulators and law enforcement in a collaborative fashion. We have worked hard to build a robust compliance program that incorporates anti-money laundering principles and tools used by financial institutions to detect and address suspicious activity.

But this is not the first encounter that Binance has had with the U.S. justice system. The Commodity Futures Trading Commission (CFTC) is also probing the exchange to find out if it allowed U.S. citizens to trade unregistered derivatives that are under the jurisdiction of the institution. The CFTC investigation is also ongoing at the time of writing.

Exchanges seem to be the next target of regulatory agencies. Executives at Bitmex, another important crypto derivatives exchange, were indicted with money laundering charges last year.

What do you think about finance being probed by the DOJ? Tell us in the comments section down below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Bitcoin whale MicroStrategy buys additional 271 BTC

What can I do to prevent this in the future?

If you are on a personal connection, like at home, you can run an anti-virus scan on your device to make sure it is not infected with malware.

If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices.

While Bitcoin’s Price Slumps the Network’s Mining Difficulty Reaches a Lifetime High

While Bitcoin’s Price Slumps the Network’s Mining Difficulty Reaches a Lifetime High

After bitcoin prices took a hit following Tesla’s recent u-turn, Bitcoin’s mining difficulty jumped over 25 trillion, the highest the metric has seen during the protocol’s lifetime. The mining difficulty spike follows the recent 12% difficulty drop the network experienced two weeks ago.

Bitcoin’s Mining Difficulty Jumps to 25 Trillion, Could Hit 30 Trillion in Two Weeks

After some issues with the Xinjiang grid in China three weeks ago, the overall SHA256 hashrate used by the Bitcoin (BTC) network dropped considerably. This in turn caused the BTC network’s mining difficulty to drop 12.6% when the hashrate lowered.

Essentially, BTC’s mining difficulty is the measurement of how difficult it is to find a hash below a given target. The more hashpower there is, then the more the difficulty increases, and when the hashrate lowers, the difficulty drops as well. The difficulty system Satoshi Nakamoto crafted is meant to keep equilibrium within the mining system and fairly consistent 10-minute block intervals.

While Bitcoin's Price Slumps the Network's Mining Difficulty Reaches a Lifetime High
BTC Mining difficulty on May 13, 2021.

On Wednesday, BTC’s mining difficulty jumped to 25.05 trillion and this metric is the highest the difficulty has ever been. This means it is harder than ever before to find a Bitcoin block and reap the coinbase rewards and fees.

BTC’s hashrate has been chugging along much higher since the issues in China and on May 9, 2021, it tapped 214 exahash per second (EH/s). However, since the difficulty increased and the price dropped from Tesla’s announcement, hashrate has also dropped.

ASIC Mining Rigs Still Profitable Under Current Elements, Antpool Takes the Hashrate Lead

At the time of writing, the Bitcoin network hashrate is around 170 to 180 exahash per second according to daily onchain statistics. Further, in 13 days if the hashrate was to remain at current levels, another increase could happen. BTC’s network difficulty could jump to 30.30 trillion in less than two weeks’ time.

Still, at current BTC prices and with the 25.05 trillion difficulty jump, most ASIC mining rigs are still profitable at $0.12 per kilowatt-hour (kWh). A 100 terahash ASIC mining rig still can get between $30 to $40 per day, with current difficulty metrics and $0.12 per kWh.

On May 13, 2021, there are approximately 18 mining pools dedicating hashrate to the BTC chain. Interestingly, for months on end, F2pool was the top mining operation with the most hashrate, but Antpool has recently taken the lead.

Poolin follows Antpool at the time of writing and F2pool is now the third-largest mining pool on Thursday afternoon. Bitcoin proponents and investors will be watching the hashrate and mining difficulty very closely, as many believe that the hashrate follows BTC’s price and vice versa.

What do you think about the recent mining difficulty spike on Wednesday? Let us know what you think about this subject in the comments section below.

Tags in this story
ASIC

,

ASIC mining rigs

,

Bitcoin

,

Bitcoin (BTC)

,

bitcoin difficulty

,

Bitcoin mining

,

BTC

,

BTC difficulty

,

BTC Hashrate

,

BTC Mining

,

difficulty

,

Hashpower

,

Hashrate

,

mining

,

Price

Image Credits: Shutterstock, Pixabay, Wiki Commons, Btc.com,

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.