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NBA Team Launches Ethereum-Powered Vinyl Toys

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NBA TEAM

NBA Team Sacramento Kings partnered with CryptoJaiju and will now start offering Ethereum-based vinyl toys. The fans will be able to purchase them in the upcoming 2019/2020 as we are about to see more in the ETH news today.

This comes as no surprise since the team has been named as the most innovative company in sports by ‘’Most Tech-Savvy Team of 2016’’ Sports Techie and by Fast company as well. According to the official press release, the 100 vinyl collectible figurines will be powered by Ethereum and each today will be assigned a non-fungible token that ensures that no two Kaijus are the same. 15 out of 100 toys will have non-fungible tokens that reveal some unique experiences or prizes for the fans including courtside seats, VIP tours and signed merchandise from the NBA Team. The fans will also gain the opportunity to obtain these limited-edition toys from November which is when the team will start hosting monthly interactive scavenger hunts for the upcoming seasons.

The Sacramento Kings Chief Technology Officer Ryan Montoya said that his team saw that using blockchain technology will bring more benefits to the team’s fans and will also outline the ability of the team to deliver innovative products and content to the fans. Earlier this month, the team collaborated with the entertainment-centric blockchain startup Blockparty in order to implement a free blockchain rewards system in the NBA predictive gaming application ‘’Call the Shot.’’ According to a press release, the fans of the NBA Team will accumulate blockchain-driven tokens that will be used to redeem prizes and unique events including signed merchandise and courtside tickers. As said by the team CEO Vivek Randive:

 “We have only just begun to see the benefits of blockchain technology as it transforms the way business is conducted worldwide, ensuring secure transactions across multiple sectors and customers.”

While the Kings still harness cryptocurrency-related technology, there is also an important facet of this announcement that the toys will be backed by Ethereum. Their user of ETH confirms that the trend the large companies are adopting blockchain technology and make their businesses successful by reducing friction and to also offer fresh products to their clientele.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at editor@dcforecasts.com

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Ethereum News

Enjin Goes Live On The Ethereum Mainnet: Report

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enjin goes live
Enjin goes live on the Ethereum network today and the platform will enable the developers to integrate cryptocurrencies in crypto apps and games without having to write blockchain codes as we are reading further in the upcoming Ethereum news. Game and app developers will now be able to integrate cryptocurrencies into their own products without having to write complex blockchain codes as Enjin goes live today. The company behind the project announced the launch of the game development platform and the mainnet has gone live on Ethereum thus allowing anybody to mint their own utility tokens. The Enjin platform will allow the app developers and game engineers to use the decentralized inventory once they start building their products according to the company’s blog post. The platform makes it easier to integrate both of the blockchain-based gaming and the non-gaming assets into the games and apps as per the company, saying that they also aim to simplify the process of managing economic gameplay mechanisms. Enjin also supports the ERC1155 Ethereum token standard which allows the developers to integrate the fungible and non-fungible tokens into a smart contract and they also stated that more than 2,500 projects have been created on the platform testent and later adopted the same ERC1155 standard. The company explained:
 “Simple, great user experience is one of the core product design philosophies at Enjin, and we made damn sure that the Web Panel is minimal, straightforward, and clean.’’
The process of creating a new blockchain project is not so complex and it can be done in four steps. The process doesn’t require any coding knowledge but while the Enjin platform web panel enables the codeless creation and management of the blockchain assets, the developers will have to employ Enjin platform API and SDKs when the time will come to integrate those assets with games and apps. The platform API is graphQL based while the Platform SDKs include Java, NODEJS, Godot and Unity. According to the company, the Enjin platform will be powered by Enjin Coin and will serve as the ultimate minting resource and used to back the value of the issued blockchain assets. While the Enjin platform is a relatively new platform, the company was present in the crypto space for more than 10 years. Enjin’s huge ecosystem is preferred among gamers and with partnerships with major companies such as Unity, Samsung, and PC Gamer, the platform has a strong presence in the gaming industry. When it comes to future plans, the company said to be working on a new way to distribute blockchain assets via QR codes.
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bZx DeFi Protocol Under Attack, More Than $1 Million ETH Compromised

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The bZx DeFi protocol got seriously hit this week after the entire decentralized finance space got under attacks and the compromised funds lost more than $1 million as we are reading further in the Ethereum news today. The first attack happened four days ago, right after Valentine’s day according to the official reports from bZx. According to the document, the attack was launched during ETHDenver and at that time bZx’s team has been out attending the event, so block 9484588 was hit hard. The attack took advantage of the bZx DeFi protocol to lend and swap a huge amount of ETH and wrapped bitcoin which represents a token being launch on the Etheruem network while tracking the price of Bitcoin. This allowed the attack to manipulate the prices and to profit off of the decentralized leveraged trade. At first, the attack took 10,000 ETH from dYdX which is a decentralized lending protocol. He used about half of that to collateralize a loan for 11 wbTc on another lending protocol. The attacker later spent 1,300 ETH to open a 5x leveraged ETH/BTC short position on the Fulcrum trading platform while borrowing 5,673 ETH through the Kyber platform. This amount he swapped for 51 wBTC which caused a massive slippage. This allowed the attack to make huge profits from swapping the 112 wBTC from compound to 6,671 ETH and to make an income of 1,193 ETH which reaches a sum of $318,000. At the end, the attacked paid back the initial 10,000 ETH on the dYdX platform. The team also confirmed the second attack: According to the official reports, the attacker managed to acquire a net profit from the system of around $600,000 and bring the losses to more than $900,000 worth of ETH but the mechanism of the second attack was much more different than the first one. The problem was the oracle manipulation. Oracles represent centralized components that provide external information to the on-chain apps. The bZx team also stated that they are working with Chainlink and other providers to create ‘’ more robust oracle and reduce the surface area of attacks against our protocol.’’ The bZx DeFi protocol managed to postpone the realization of the profits from the second attack and stated that they believe ‘’the system can recover from this.’’
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What Is Ethereum Showing With The Latest Move?

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what is ethereum showing
The largest altcoin by market cap, Ether (ETH), has been adding a lot to its price overnight and today, the altcoin is up by around 7%. Many people wonder what is Ethereum showing with this move but the truth is that the cryptocurrency smashes key resistance and the technicals indicate a fresh new rally to $288. The ETH news also show that the price is gaining pace and could rise further above $270 and $275. Yesterday highlighted a major bearish trend line which was breached with resistance near $262 on the hourly chart of ETH/USD. Meanwhile, the Bitcoin price is slowly recovering as well and could test the $9,800 and $10,000 resistance levels. What is Ethereum showing with this new rise is simply the ability that it can move higher even after a downfall. As soon as the ETH price settled above the $260 level and the 100 hourly simple moving average, we saw ETH consolidating and being in the middle from the downside correction from a $289 high to a $236 low. It seems like bulls are preparing for a push above the $272 and $275 levels. In this mentioned case, the price of Ethereum (ETH) is likely to rise strongly towards the $280 and $285 levels. The main hurdle on the upside is near the $288 and $289 area, above which there are many chances of a strong rise towards the $300 and $305 levels which are the goal for many analysts now. Anyways, what is Ethereum showing now is a swift move and a solid price which can continue above the $275 resistance and correct a few points. An initial support is also near the $264 level and the 100 hourly SMA. Therefore, if Ethereum fails to stay above the 100 hourly SMA, the bulls are very likely to struggle to protect the $260 support. In this mentioned case, the price may also correct towards the $255 support area. The technical indicators for ETH in the crypto news today are as following:
  • Hourly MACD – The MACD for ETH/USD is now back in the bullish zone.
  • Hourly RSI – The RSI for ETH/USD is currently rising and it is well above the 50 level.
  • Major Support Level – $262
  • Major Resistance Level – $275
The total market capitalization is at $285 which is good as it slowly tries to regain the $300 billion levels.
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Ethereum’s Metamask Browser Hits One Million Users

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Ethereum’s Metamask browser has just surpassed one million users on its Google Chrome extension and the milestone came right when the ETH prices hit a seven month high so let’s read more about what is ethereum going to do with it all in the ETH news today. The new milestone arrived with an increase in Ethereum transactions which have doubled from 400K to 800K in just a month according to the analysis by Trustnodes. The report shows that Gas had surged to the highest level since September 2019 while the transaction fees are still low. The network fundamentals are also improving and the hash rate is climbing again to a two-month high of 175 TH/s so the surge in network activity has been catalyzed by an increase in momentum on the markets as the ETH price goes towards the $300 price level. A week ago, the world’s second-largest crypto asset by market cap also made an additional 28% and the market cap is now back to the position of $30 billion and the Bitcoin dominance is dropping as a result. All of this increases the usage of the browser-based blockchain tools such as Ethereum’s metamask which lets the users run dapps within the browser without having to run a full Ethereum node. The increase in the DeFi markets is also quite bullish for Ethereum because it is a standard monetary unit in this part of the financial landscape. Metamask can be used to get closer to the DeFi platforms such as Compound or Oasis and can easily transfer and set up smart contracts for earning interest rates in just a few minutes. The goal is to simplify the usage of Ethereum and to bring it to the wider public by integrating the blockchain into the browser. There are also other extensions for Firefox, Opera and the Brave browser. The Metamask team now works on developing Snaps which will allow developers to build plugins that can extend the functionality of Metamask. Vitalik Buterin and Joseph Lubin, the co-founder of Consensys, along with Eric Voorhees the Shapeshift founder will attend a blockchain even this weekend. Also as per the recent ethereum news, the energy giant BP will be adding its name to the sponsors' list for the event that shows that the interest for Ethereum is growing.
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