DeFi
What Exactly Is Arbitrum?
Published
10 months agoon
By
Efekan Ozdan
Ethereum is a well-known platform for creating decentralized applications (DApps). However, due to a rapid increase of its users in recent years, the network has been pushed to its ultimate limits, causing transaction costs to skyrocket and widespread congestion.
Some believe that on-chain changes and improvements are the best approach to expand Ethereum, however, others are opting for second layer alternatives.
Although they differ widely in terms of appearance and purpose, one such option, known as Arbitrum, has begun to gain attention.
What Is Arbitrum?
It is one of the layer 2 solutions that enhances the capabilities of Ethereum smart contracts by increasing their speed and scalability while also providing extra privacy features.
The platform is meant to make it simple for developers to run unmodified Ethereum Virtual Machine (EVM) contracts and Ethereum transactions on a second layer and at the same time taking use of Ethereum’s superior layer 1 security.
It’s designed to address some of the current Ethereum-based smart contract’s problems, such as inefficiency and high execution costs, which have harmed the Ethereum experience for users and frequently make transactions costly.
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DeFi
NFT Gas Prices: What Are They? Getting To Know Ethereum, Gas, And Gwei
Published
10 months agoon
October 24, 2022By
Efekan Ozdan
What exactly is ETH Gas?
The Ethereum network uses the Gwei as a unit of gas. Miners need gas to process transactions, which is one of the main differences that seperates Ethereum from other cryptocurrencies such as Bitcoin.
“How much gas you’ll need depends on the size of the contract you’re aiming to complete and how quickly you want to complete it.” The price usually reduces if you’re patient enough to wait for a transaction to finish. Both NFT art makers and collectors benefit from understanding this idea.
If we want to have a look at the technical side, Ethereum’s native currency, ether (ETH), is used to pay gas fees. Gas costs are expressed in Gwei, which is an ETH denomination — one Gwei equals 0.000000001 ETH (10-9 ETH). Instead of claiming that your gas costs 0.000000001 Ether, you may say that it costs 1 Gwei.
Why is there Gas?
The gas in Ethereum is a crucial regulator that prohibits spamming the network. All Ethereum computations push the security measure to its limit. Gas limits, which are paid for with each computational execution, have the mission to ensure that bad individuals do not exploit unsorted amounts of processing power to become de-facto coders on the Ethereum network and corrupt the future they worked hard for creating.
Why Gas is so important for NFT arts and artists?
Gas has two sides to it. When gas costs are rising, it is difficult for uprising artists to generate, mint, and even purchase other works. Some artists try to include the cost of gas into their paintings (which indicates that they are ready to lower the cost of their art, to make their art easier to buy.) This creates a catch-22 because the art’s perceived “worth” is reduced when collectors are deciding whether or not to spend 25-57 percent of the overall purchase price on gas. Artists aiming to build a reputation for themselves face a difficult situation in this regard. On the other hand, artists might overcharge while selling their work (paying higher marketplace and gas costs) in order to get their work published before they have built a reputation for themselves to be able to charge that much.
Overwhelming and Absurd NFT Gas Cases
We’ve seen gas costs exceed the cost of a piece of art being created in some cases, leaving artist in a very difficult situation to put their work online. Actually, making it impossible for the artist.
Solutions for NFT Gas
Allow the NFT Artists to have more power when their work is minted. Many marketplaces only let artists to create something at the very moment they click mint. Artists should be able to choose how long they want to wait for network congestion to clear before publishing. This is already implemented in NFTGateway (As far as I know). The painting isn’t minted until it has been bought during a drop. The art might not appear in wallets instantly, the transaction might take 24 hours. While we haven’t experienced such a long wait, we have seen up to two-hour waits for costly drops expectations.
The User receives back any unused gas
Finally, it’s essential to emphasize that not all transactions use the total gas supply. This should be better stated, and we’ll need to undertake further studies to find out what proportion of gas is returned on average. However, you’re essentially accepting to a maximum amount of gas fees that you’ll pay to complete the deal.
DeFi
What is Play-To-Earn (Play2Earn) All About? Begginer’s Guide
Published
1 year agoon
March 3, 2022By
Efekan Ozdan
The play-to-earn business model promotes the idea of an open economy by rewarding players who contribute to the metaverse’s value.
Play-To-Earn (Play2Earn) games are a type of gaming in which a platform allows players to earn any type of in-game property that can be transferred to the real world assets that has value like money.
Play-to-Earn Crypto Gaming: Begginer’s Guide
Video game business models have evolved to a whole new level as technology has become more widely accessible to the public. Before, people were able to play games only in certain gaming areas on arcade machines. With a bag full of quarters, gamers would compete for the highest score. But, as technology advanced, games were introduced to our smartphones, PCs, and gaming consoles such as the PS5, Xbox, and others.
What Is Play-to-Earn Gaming?
In the blockchain ecosystem, a new game paradigm known as play2earn is currently being seen around the world. It effectively allows participants to profit from their participation in games. By participating in the in-game ecosystem and earning assets for their contributions, players create value for other gamers and developers. Coins and accessories that have been tokenized on the blockchain are examples of digital assets. As a result, blockchain games and the play-to-earn business model support each other effectively.
Play to Earn Games
Axie Infinity is an excellent example of a play2earn game. Axies are charming animals that players buy, breed, and combat for rewards in this game. Each Axie is a non-fungible token (NFT), which means it’s a unique digital collectible. There is an entire economy within the game (There is a world known as Lunacia).
Users can use their in-game tokens, Smooth Love Potion (SLP), and Axie Infinity Shards (AXS) to buy land and breed Axies in Lunacia. In addition, these tokens are not just useful in the game, they are also useful in real life.
Play-to-earn games, such as Axie Infinity (AXS), are already assisting people all over the world (particularly those who live in countries affected by the current pandemic severely) earning a significant amount of money. People in the Philippines are making $1,500 to $2,000 per month playing Axie Infinity as a hobby, according to estimates. A good number of people in Vietnam have also given up their full-time jobs as a result of these games, which pay well.
Lost Relics, Splinterlands, CryptoBlades, DogemonGo, and Sorare are some of the other NFT games.
In 2021, the NFT market will have topped $2.5 billion in revenues, and this figure is expected to rise rapidly as new NFT games hit the market. The rise of NFT is leading to a new era of revenue streams in the blockchain world, and it won’t be long before it overtakes every other major business.
DeFi
What is Star Atlas (ATLAS and POLIS)? Beginner Guide
Published
2 years agoon
February 2, 2022By
admin
Built on the Solana blockchain, Star Atlas is a blockchain-based, space-themed grand strategy video game. It’s a large multiplayer metaverse set in the year 2620 in the distant future.
Using Unreal Engine 5’s Nanite to produce cinematic level video games and visual experiences, the gaming platform discovers some of the most latest technological improvements.
Within the Star Atlas universe, players can trade, acquire, and create non-fungible tokens (NFTs), creating an economy that mirrors the tangibility, ownership, and value of assets in the real-world.
Because Star Atlas is based on the Solana blockchain, it will benefit from the network’s transactional capacity, which can reach 50,000 transactions per second.
Gameplay of Star Atlas
The Star Atlas game universe is vast, and players must go on lonely and difficult adventures filled with endless risks as they acquire resources and attempt to surpass other players in the metaverse.
In the game, players can develop entire cities and micro-economies, as well as collaborate and form decentralized autonomous organizations (DAO) to control specific territories. Players can even get real-world money for the virtual in-game objects they earn while playing. Unlike most centralized gaming platforms, which prevent reselling and complete ownership of in-game items, Star Atlas embraces decentralization wholeheartedly. Players will be able to sell NFT-enabled in-game things on secondary NFT marketplaces after acquiring full ownership of the assets they earn in the game.
The overall goal is to encourage the monetization of time spent in the Star Atlas game, allowing for a real-world economic incentive for participation.
Star Atlas Game Incentives
The Star Atlas game, at its base, is designed to work in the same way that blockchain does, with incentives for maintaining and securing the Star Atlas ecosystem.

The grand strategy portion of the game, for example, will encourage players to stake claims in order to develop their empire utilizing offensive and defensive tactical strategies. As a result, while interacting with the gaming platform, the player contributes to the network’s security.
Players can also drive a starship with a crew into the vast and limitless depths of the Star Atlas universe in quest of wealthy claims that can be staked or mined in the game’s exploration mode. Players can discover secret surprises in outer space as their virtual activities contribute in the mining and discovery of blocks.
In Star Atlas, there are Deflationary Assets
Star Atlas also has a unique deflationary mechanism that allows players to take on more risky actions in exchange for higher rewards. For example, a player can explore the metaverse’s darkest areas, risking the safety of the safe zones in exchange for higher benefits. As the player progresses farther into the game, the NFT-based spaceship they are using to travel may become lost or permanently destroyed. This will cause the asset to burn, and those who survive the danger zones’ trials will be able to take the spoils of war from the salvaged NFTs.
To add to the deflationary nature of NFTs on Star Atlas, some in-game objects will be consumable and, as a result, will be destroyed as soon as they are consumed. Construction materials, fuel, and other items that offer a player’s avatar a momentary boost will be among these items.
What is (ATLAS) the Star Atlas Token?
The ATLAS token will power the entire metaverse’s economy. To begin, users will need to use their ATLAS token to purchase in-game NFT things such as a crew, a spaceship, land, and other game-related items.
Simply said, this coin will serve as the platform’s native token as well as a financial unit. On the Star Atlas NFT marketplace, ATLAS will be the dominant currency.
What Is (POLIS) the Star Atlas Token?
POLIS is the Star Atlas metaverse’s governance token. POLIS token holders will have a say in how the Star Atlas development team makes decisions.
DeFi Financial System of Star Atlas
Star Atlas not only uses the Solana blockchain, but it also has a direct connection to the Serum DEX (decentralized exchange).
Star Atlas gamers will be able to engage with smart contract-enabled DeFi systems while in the middle of enjoying the game thanks to Serum’s integration.
Players will be able to borrow or lend a range of Solana or Serum assets as a result of this. They will also have access to automated market making on multiple liquidity pool pairings, which will allow them to earn trading fees, as well as yield farming opportunities with greater yields.


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