Gate.io Podcast |ApeCoin As Crypto Payment For Time Magazine, Cardano To Perform Like Solana By The End of 2022

2022-03-24, 08:01

This episode is brought to you by Gate.io and Solice (Airdrop). ApeCoin is trending all over the crypto space and Time magazine has decided to use it as a sub_script_ion payment method. Hoskinson said that Cardano is going to achieve Solana’s performance results by the end of the year. Followed by a Deep-Dive on decentralization as a step towards web liberty.

In today’s Headlines:

ApeCoin As A Crypto Payment Method For Time Magazine. | 1 | 2 | 3 |
Cardano Will Have The Same Type Of Performance As Solana By The End Of 2022 | 1 | 2 |
Indians To Pay 30% Of Crypto Gains, Despite Losses| 1 | 2 |
Interest in Shiba Inu Coin has started To Dip Since The Start of 2022 | 1 | 2 |
Ukraine Officially Legalizes Cryptocurrencies | 1 | 2 |

Sponsor: Solice

Deep Dive: Web3: The Next Internet Revolution, A Step Towards Cyberspace Liberty. | 1 | 2 |

Introduction:

Welcome back to the Gate.io Podcasts. I’m Peter, this is the show to get a neutral perspective on some of the latest headlines in DeFi, Metaverse, NFTs, and Big Tech. Today’s episode is sponsored by Astar Network and brought to you by Gate.io, a centralized exchange with a neutral stance on current events.

Before we get in, the information presented in this podcast is to help you stay up-to-date on the latest happening in the crypto space, and nothing presented hereby is financial advice. The news that I cover in this podcast will have the original source at your discretion. Stick by this podcast as I show you how to stay vigilant and learn to do your own research.

But, before jumping in, make sure to subscribe to this podcast or youtube channel and don’t forget to turn on the notification bell so you’ll not miss any info about the crypto space!

Now, without further ado.

ApeCoin As Crypto Payment Method For “The Time”
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ApeCoin Is Surfing The Crypto Market.

The hype around the ApeCoin is under everyone’s nose. Yuga Labs, the company behind the ApeCoin, managed to create a strong marketing campaign, also helped by its supportive community. The crypto brand managed to break all the social media platforms, becoming in a couple of hours one of the hottest topics all over the web.

Nice bags of Ape tokens were airdropped to the BAYC holders from the Yuga Labs as a community reward, while other tokens have been made available to purchase on major exchanges. $APE is the governance-token of the APE ecosystem which grants its holders access to exclusive features such as merchandise, events, games, services and even more.

“The Time” To Accept ApeCoin As Sub_script_ion Payment Method.

Meanwhile, The Time, the notorious magazine, decided to go full-dig into the crypto space to educate its readers to the newcomer industry. In fact, the British newspaper, recently saw Vitalik Buterin, Ethereum Co-founder, as the cover image’s mind of the magazine, which is going to also be published as an NFT, today, on 23th March. The newspaper has decided to expand its payment sub_script_ion method even more: besides accepting Bitcoin, Ether, Dogecoin and XRP, The Time is going to allow people to pay sub_script_ions via ApeCoin tokens.

The announcement has been officialized by The Time Web3 Account on Twitter, which confirmed that the magazine, in the next couple of weeks, is going to accept the token as new currency for sub_script_ion. A simple choice that can make a great difference from a marketing point of view and it can also spread crypto awareness to other newspapers and everyday readers. Crypto adoption by strong institutions and companies makes digital assets to be easily considered reliable by people that

aren’t involved in the industry.

Check Gate.io & Trade $APE.

Even if $APE is experiencing a correction due to its recent listing, people continue to support the project and the upcoming metaverse called “Otherside” because the token is going to be the native token of the virtual world. So, if even you want to join the BAYC metaverse that includes also other NFTs projects like CryptoPunk and CoolCats, you should definitely jump on Gate.io and trade the ApeCoin, you’ll find the link in the de_script_ion, so gave it a look!

Cardano Will Have The Same Type Of Performance As Solana, By The End Of The Year
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Hoskinson: Cardano To Achieve Similar Performance Results As The Ones Of Solana.

Charles Hoskinson, Cardano Co-founder, in a recent interview with the host of InsideW3b, Marco Montemagno, has promised that his project is going to achieve performance results similar to the ones of Solana’s ecosystem, by the end of 2022.

Hoskinson announced that the team behind Cardano’s development is focused on improving the scalability and efficiency of his blockchain in order to give the platform the possibility to achieve performance outcomes like the ones of Solana, referring to the Basho scaling phase of Cardano, first outlined in the early roadmap of 2022.

Upcoming Cardano’s Updates and Improvements To The Ecosystem.

Cardano’s Co-founder has expressed his excitement about the updates that are going to happen in early summer and October, saying that the latter and June are going to be the two most important months of the year for the ecosystem. He also added that the Vasil Hard Fork, which is scheduled in June, is going to offer to dApps Devs important additional tools like pipelining, sidechains and improvements to Plutus - the smart contract platform.

In fact, it's the sidechain Mithril itself that can cooperate with the mainchain of Cardano in order to solve bootstrapping, blockchain’s trust issues and other synchronization problems. Those are elements that make the Co-founder confident that the ecosystem is going to experience a growth in numbers of Total Value Locked.

Hoskinson has provided some interesting clues about the next couple of months in the Cardano development path, highlighting the fact that the project takes advantage of the inherent treasury system and comprehensive governance layer. He also pointed out that the project is able to print money like any government to fund its development, ensuring all the investors about possible cracks in the upcoming updates.

Cardano’s TVL Keeps Growing.

Even if there is a lot of time until June comes, we can already see huge growth in the Cardano’s ecosystem. The most recent one has been registered by DefiLlama that has shown an increase of 13% in Cardano's TVL, during the last couple of hours. In short, the Total Value Locked is the value of assets being staked or deposited on a platform, which means that the use of Cardano keeps growing progressively and according to Hoskinson, the percentage will increase even more during the early summer.

Indians To Pay 30% Of Crypto Gains, Despite Losses
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India Requires People To Pay 30% Of Taxes On Crypto Gains, Despite Loss Transactions.

The Indian Crypto Space is currently revolting against its Taxation System because of the Government’s clarification over digital assets trading, which took place on Monday.

Last month, India experienced a gusty period because of the taxation percentage that the crypto industry had been affected by. The Government unveiled that digital currencies trading was going to suffer a 30% of taxation, added to a 1% cut from every transaction aiming to convert tokens to fiat currency, irrespective of loss or gain. People implied that the 30% of taxation was occuring only to profits. Basically, if you have bought a token, you should have paid taxes only on the profits you made while loss didn’t require any additional fees.

The huge taxation rate has been decided based on the Government consideration of digital assets. The Indian Institutions considers tokens trading as gambling, betting and casino’s services, the reason for why the country decided to apply the same rate of taxation also for cryptocurrencies holders. This decision has affected the whole crypto industry and community across India, slowing down the development of the blockchain technology and digital assets adoption. Still, the bad news didn't finish in February. On Monday 21st of March, India’s Government announced that losses are not deductible from the 30% of taxation, even if different coins are traded. Basically, investors have to treat tokens separately according to the taxation law.

How Does Taxation Work?

To make this more clear, I’m going to make you an example:
Let’s say that you have earned $100 from trading Ethereum and lost $50 while trading Bitcoin, having a total of $50 of profits from your overall trading.
According to Indian law, you would have to pay taxes on those $100 you earned trading Ethereum, despite having lost money in other transactions and having a total profit of just $50. This means that the government will require you to pay 30% of $100 instead of $50, which is a considerable difference.

India has the highest number of crypto traders in the world, according to BrokerChooser, the country has 100 millions of active users, a huge community that may be drastically affected financially, in the upcoming months.

Interest in Shiba Inu Coin has started To Dip Since The Start of 2022
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Shiba-Inu Keeps Losing Number Of Addresses.

During the last couple of months, Shiba-Inu, one of the most popular meme-coins in the world, has experienced an impressive growth in community and investors.

In fact, during the last weeks, the project has seen a stable increase in total number of addresses on the network, gaining almost 200,000 new addresses since the beginning of the year.

Shiba Inu, at the end of January saw a drop of 4,000 addresses, in a single week.

However, on 17th of March the ecosystem registered a dip of more than 30,000 holders, suffering a loss of 2.47% in a single day, according to CoinMarketCap’s stats published on 18th of March, marking an unstable period for the project.

Finbold noticed that the decline of holders corresponds to the one of transactions of the ecosystem.

The loss of interest can also be verified on Google Trends Analytics that shows how much Shiba Inu has become less popular on the web, especially in the last couple of months. In the period between November 2021 and February 2022, the interest in buying Shiba Inu dropped by 97%.

Turkey May Consider Shiba Inu As Answer To Lira’s Inflation.

Despite the interest in the memecoins has started to follow the downtrend pattern of cryptocurrencies, Shiba Inu keeps being a hot topic among crypto enthusiasts. In fact, even the Turkish Ministry Of Economy expressed interest in it, discussing a possible adoption of the token all over the country. The Ministry had a face to face meeting with Shiba Inu Turkiye, a supporter of the token, to deeply understand the meme-coin advantages to the country’s economy which is currently fighting Lira’s high inflation.

Probably if the burning system of Shiba Inu, which is going to make the coin deflationary, will properly work, it may also help the token gain investors interest again and relaunch the meme-coin one more time.

Ukraine Officially Legalizes Cryptocurrencies| 1 |

Ukraine’s “On Virtual Assets” Crypto Law.

Ukraine keeps being under attack by Russian Military Forces. The end of the conflict seems to be far away and both countries are affected by tremendous economical issues which makes them in search of solutions that can help them overcome international sanctions, as Russia, or seeking humanitarian aids, as Ukraine does.

Ukraine, since the start of the war, has accepted crypto donations in order to fund the military campaign and help civilians. However, there wasn’t any official regulatory crypto law in the country, until Zelensky approved a digital asset bill, named “On Virtual Assets”, that passed in the Parliament and which he had previously rejected in September 2021.

The law officially recognizes the legal status, ownership and classification of virtual assets. This means that the market is going to be regulated by Ukraine’s National Commission On Securities and The Stock Market, the governmental body already responsible for the stock market. Decision that makes exchanges able to fully operate across the country. The Ministry of Digital Transformation also added that banks are going to open accounts for platforms that deliver digital assets services in order to facilitate their operations.

Ukraine As Friendly Country For Cryptocurrencies Exchanges And Services.

Currently, the Government is aiming to make Ukraine a country that pursues technologic development, by shaping its policy to an Economical form that can help the Nation to win the war. Even if the bill has passed, the Ministry of Finance announced that Institutions keep working on amendments to regulate taxes and solving issues that can compromise the launch of a legal crypto market in the country.

Until now, Ukraine keeps receiving a lot of donations from crypto enthusiasts that want to support its military defence and help humanitarian efforts. In fact, the Ministry of Digital Transformation created a website that shows all the different cryptocurrencies the Country accepts as donations, as well as the total value of the funds raised until now, which exceed the huge amount of $100 millions.

Sponsor | Solice

Before I continue with today’s deep dives, I must tell you about today’s sponsor, Solice, an open 3D world with limitless possibilities: a VR metaverse where users can play, build, own, socialize, and monetize their virtual experiences in an immersive way on the Solana blockchain.

The Solice Metaverse is based on a map of fixed amounts of scarce LAND. LANDS are physical spaces in the Metaverse owned by players to create and monetize any type of activity (free or paid). As the current technology trend shifts towards the metaverse, virtual real estate has become a highly sought-after asset, with some even transacting at real-world prices. In 2021, Sandbox reported a $4.3 million land sale, with Decentraland coming in second with a $2.4 million land sale of their own.

On March 17th, Solice announced that the Solice metaverse will have 60,000 pieces of Land for sale in total, starting with 1,200 Parcels (2,765 lands) in the first wave which is scheduled for the end of March.

Future landowners can look forward to utilizing their Land for revenue generation. Landowners will also have full creative control over their virtual real estate and can decide if they want to design their own revenue model or create a free and accessible haven for users that simply want to enjoy the game.

It is also possible to earn revenue in the form of Land staking, where users simply stake their SLC tokens on the Lands that they own to earn rewards like rare digital assets that can be used to enhance their gameplay.

Wanna buy lands and create your own paradise in Solice for free? Join the Gate.io Podcast Airdrop now! 900 SLC tokens are reserved for 150 podcast listeners from Mar 24 to 31. Stay tuned!

Web3: The Next Internet Revolution, A Step Towards Cyberspace Liberty.
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The Declaration Of The Independence Of Cyberspace.

The Internet was born with fundamentals that have been used to identify it as a place focused on Democratic principles.

But are those elements the ones that represent the Internet of today?

First, we should take a step behind and go back to the ‘90s.

In 1995, the essayist, John Perry Barlow, wrote the Declaration of The Independence of Cyberspace to express his disappointment against the US Parliament’s Telecommunications Act of 1996. According to the Federal Communications Commission, the goal of the law was to encourage businesses to enter a new market: the Internet and let them compete with each other. The network supporters considered the law as a threat and a dangerous tool used to help established institutions to grow even more by granting them a set of laws to legally protect them. The Declaration of The Independence of Cyberspace can be considered as the first shout-out of the Internet supporters who wanted to express their disappointment against the US and other countries that encouraged their home business to join the web.

Freedom, borderless and no government were key-factors used to declare political and economical institutions as enemies of the Internet. The paper argued that the network was an abstract world, a place shaped by the human mind, where companies couldn’t have the rights and power to operate in it. Even though those ideals were really powerful, we can see how things further developed.

Web2: Big Techs Ruling Over The Internet.

Today’s Internet, even if it seems to be free, is controlled by big corporations that manage advertisements and control our privacy information.

In almost 30 years, the Internet has evolved so much that we’ve left behind static web pages, the Web1, and embraced dynamic and interactive features, represented by Web2. Video-calls, streaming services, e-commerce can be considered to be the characteristics that shape the current status of the Internet. However, all of them are controlled by Big Corps that make a lot of profits by selling us products, controlling our personal information, deciding the trends and much more. Huge profits, access to privacy information and being ruled by Big Techs do not seem coherent to what Barlow presented in his paper. In fact, we can consider Barlow’ and Internet pioneers' ideals to be what Decentralization purposes are. Creating an Internet free by company's control and based on community ownership.

Is It Really Achievable Something That Has Been Dreamed Almost Three Decades Ago?

Well, sometimes, dreams can come true.

A newborn industry is easily accessible for anyone who has a nice bag of money to invest into it, especially companies; but new technology requires excellent minds able to deal with it.
That’s why, at the beginning, the Internet was something hard to understand for people and used only by those capable of dealing with its technology. Being a service opened only for those with IT skills made the Internet to be limited. In fact, common people weren’t able to develop a website as today and it was very hard for them to understand the network's possibilities. Limitation and user experience have created a free market for companies where they’ve imposed their rules and control over newcomers. Result? Centralization. Web2, today’s Internet, is ruled by those who have been able to eat the bigger slices of the cake faster.

We’re experiencing how platforms manage our accounts: they can silence or ban them, data censorship is still under their control and they also represent an easy target to cyber attacks.

Also, in the Web2 space, sexual orientation, religion and political affiliation, relationship status, comments, likes and purchase history are information being collected to be sold to marketing advertisment corps. Those factors have developed the need of upgrading the Web2 to Web3 with the goal to give users the power to rule the Internet of the future and escape digital control. This happens because the Internet has become mainstream, accessible by anyone, everywhere, and people have become aware of its dark sides.

Ethereum: A First Step Towards An Open Internet.

The first step towards Web3 is represented by Ethereum, a decentralized system aiming to represent a completely new cyberspace based on free market and community ownership.

Here the community is the one that rules over the digital economy by managing all the financial transactions, while privacy has become a truly private and personal information. You no longer need to give data to anyone.

The system is truly “open”, anyone can have access to it and most important thing, there isn’t any owner behind it. No one has the power to freeze accounts or ban users. Every movement people make on Ethereum will be registered on the blockchain, without the possibility to be modified or eliminated and information can be accessed by anyone. Even app code repositories can be copied and used by others.

All those characteristics make Ethereum the service that Internet pioneers dreamt of. A place where individuals become the owners of their own data and where power shifts from companies to individuals.

However, goals can’t be achieved without challenges.

Even if decentralization gives access to freedom and community ownership, there are still some problems with the network.

Let’s consider our society.

If there wasn’t any set of laws, probably a lot of people would start to act with unethical behavior: racism, hate speech and crime would intensify. This would happen because there won't be any consequences anymore. We, as humans, are used to respecting rules in order to make the society liveable. Laws are something that even animals tend to have, as a herd. So, they aren’t something that people invented, we merely improved and expanded upon them based on society’s development.

The same society problems we’re facing everyday are very likely to encounter also on a decentralized platform. Free speech may allow people to spread misinformation, hate, incentifying cybercrime. That’s why the community needs to transform society’s rules to common sense, in order to make people act properly and make Web3 truly usable for everyone. Beside that, decentralized platforms are facing technical problems like transaction costs, accessibility and user experience. Those difficulties are caused because services are still under development and improving day by day. Everything is new and developers work on offering quality platforms and finding ways to enhance them.

So, even if we’re still far away from The Declaration of Cyberspace's concepts, Web3 developers have found out the proper way to deliver us the Internet of the future.

Still, decentralization grants us liberty and common ownership, but are we really ready and capable to deal with those permissions?

Listen the whole episode：

1: ApeCoin As Crypto Payment For Time Magazine, Cardano To Perform Like Solana By The End of 2022

2: ApeCoin As Crypto Payment For Time Magazine, Cardano To Perform Like Solana By The End of 2022