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ODIN Protocol Goes Live on Binance Smart Chain (BSC) with a BANG!

Team Bitcoin Daily

Published

3 years ago

on

The ODIN protocol has officially launched on the Binance chain in its continued efforts to democratize the Big Data industry, currently valued at over $260 billion. The Open Data Interoperable Network (ODIN) is a decentralized system aimed at organizing the data oracle network, based on an open protocol for interaction with market participants and a sustainable economy. The project seeks to introduce the future of true decentralized big data by building a decentralized peer-to-peer data sharing and trading ecosystem. ODIN essentially combines the benefits of cryptography and decentralized technologies. The new system also brings together the simplicity of connecting data providers and the flexibility of developing contracts to receive and process data from them. The result is an ecosystem that increases the scalability and reliability of circulating data. This BSC integration will help the ODIN system achieve its goal of building an open ecosystem that establishes trust relationships between the market participants while giving back control to data generators (the users). ODIN will tap into the scalable BSC blockchain to eradicate intermediation in the industry and foster faster growth and adoption of the project’s native tokens. The move to BSC will now enable users to execute operations at high speed and low transaction costs. The ODIN team chose to build on Binance Chain due to the fast-growing ecosystem of the Binance network and lower gas fees compared to Ethereum.

The ODIN Protocol Binary Token System

The ODIN protocol implements a binary token system consisting of the native GEO and ODIN tokens. ODIN has its initial total supply capped at 100M tokens and is used to secure the network and serve as a means of payment for Data consumers; the community also uses it to participate in System Governance.  ODIN applies a deflationary mechanism and 20% of all tokens will be burned, resulting in a final supply of 80m. The protocol also usesthis first token as an incentive for validators to produce new blocks and submit responses to data requests. Validators are rewarded with a 12% APR of the subsidy in each block. They also receive 100% of the fee paid by users and all the tokens received due to violations of the ODIN protocol rules. The second token, GEO, has a total supply capped at 350 million tokens and is used as payment to Data providers. GEO serves as an inflationary token that data producers and data providers can quickly obtain. The ODIN team will use an auction mechanism to buy out a certain GEO amount for the ODIN token if the data is paid and consumed in the system. Moreover, 50 million GEOs are to be distributed among data providers for about five years with an average rate of 27.400 per day. Tokens bought back by the foundation from the data acquisition transactions will be used to reward the next group of data-generating users.

ODIN use cases

  • Streaming of anonymized user-generated data such as location, health, consumption, mobile data & others from off-chain applications to onchain smart contracts.
  • Dynamic NFT allowing to update data records within NFT from real-world data
  • DeFi applications need to be fed with real-world data such as off-chain trading platforms, prices, forecasts, statistics, and various analytics.
  • Betting dapps can be fed with data from the real world to bring more decentralization & fairness to the betting sector.

ODIN Fair Launch

ODIN did a fair launch event on pancakeswap on 21st April gaining almost 9000 wallet holders within a few hours! We are excited to see what is next for ODIN as in a few days they will be revealing their testnet according to their roadmap!

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Press Release

Introducing the Plena App: A Revolutionary Crypto Super App

Team Bitcoin Daily

Published

3 days ago

on

July 24, 2024

By

We are excited to announce the launch of the Plena App, a groundbreaking crypto super app that seamlessly blends the security of self-custodial wallets with the convenience of centralized applications. Today marks a significant milestone in the world of cryptocurrency as we introduce a platform designed to revolutionize how users interact with digital assets.

What is Plena?

The Plena App is an advanced crypto super app that offers users unparalleled security through self-custodial wallets while providing the ease of use typically associated with centralized applications. With Plena, users can invest in over 100,000 cryptocurrencies, manage transactions, perform asset swaps, and bridge assets with just a single tap. This innovative platform leverages Account Abstraction technology, making it the first of its kind in the crypto space.

Key Features

– Self-Custodial Wallets: Plena ensures users have complete control over their digital assets, combining robust security with user autonomy.

– Comprehensive Investment Options: With access to over 100,000 cryptocurrencies, Plena provides diverse investment opportunities.

– Seamless Transactions: Facilitating quick and easy transactions, Plena makes managing your crypto assets straightforward and efficient.

– Asset Swaps and Bridging: The app allows for effortless asset swaps and bridging, enhancing flexibility and usability for crypto enthusiasts.

– Account Abstraction Technology: Plena’s innovative use of Account Abstraction technology sets it apart, offering a unique and superior user experience.

 Launch Details

We are proud to officially launch the Plena App today. This pioneering platform is set to transform the crypto landscape, providing users with a secure, convenient, and innovative way to manage their digital assets.

Contract Address: 0xed68931e351ee97e8f77c64181475a6e3f2bd573

Join us in this exciting new chapter of cryptocurrency innovation. Visit our website or follow us on X to stay updated with the latest developments and features of the Plena App.

For more information, visit our website or follow us on X.

Website: http://www.plena.finance

X:http://x.com/PlenaFinance

Token: PLENA

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Press Release

How Bitcoin Lotteries Work and Differ from Conventional Lotteries

Crypto Chain Wire

Published

3 days ago

on

July 24, 2024

By

The world of lottery just got an upgrade and it is global, secure, and powered by the future of finance: Bitcoin.

In this article, we dive into the exciting world of Bitcoin Lottery which offers a seamless and transparent experience. We will break down what Bitcoin lotteries are, how they work, and what sets them apart from your conventional lottery system.

What is a Bitcoin Lottery?

Bitcoin lotteries work like traditional lotteries but with a modern digital spin. Instead of using fiat currency, participants use cryptocurrencies like Bitcoin.

Here’s how it works: you buy a lottery ticket with cryptocurrency, choose your numbers, and wait for the draw. If your numbers match the drawn numbers, you win a prize – paid out in Bitcoin or other chosen cryptocurrencies.

What Makes Bitcoin Lottery Games Stand Out?

Here are the features that make Bitcoin lottery games a top choice for players.

  • Transparency and Fairness: One of the biggest advantages of the Bitcoin lottery is the use of blockchain technology. Blockchain ensures that every transaction and draw is recorded on a decentralized ledger that’s accessible to all players. This transparency eliminates worries about rigged results as players can verify each draw independently.
  • Security: Using cryptographic algorithms, Bitcoin lottery games offer extra security. The decentralized nature of blockchain means malicious actors can’t manipulate the results of the draws.
  • Global Accessibility: Unlike traditional lotteries which are limited by geographical boundaries, crypto lotteries are accessible from anywhere in the world. As long as you have an internet connection and a digital wallet, you can play. This global reach increases the player base and potentially the prize pool.

Regular Lotteries vs. Bitcoin Lotteries: A Comparison

1. The most obvious distinction is the utilized currency. Ordinary lotteries utilize fiat currency like dollars or euros, whereas a Bitcoin lottery uses Bitcoin or other cryptocurrencies.

2. Transactions in Bitcoin lotteries are faster and may have lower fees than buying traditional lottery tickets. This is so because Bitcoin transactions eliminate intermediaries like banks, therefore lowering the delays and expenses related to bank fees and currency exchanges.

3. Prizes in Bitcoin lotteries are in BTC or other cryptocurrencies which can be attractive because of the potential for value growth. Certain Bitcoin lotteries also provide quick payouts, hence improving the convenience for the winners.

4. Bitcoin lotteries usually employ “provably fair” algorithms. Unlike other lotteries, this system lets players use cryptographic techniques to confirm the fairness of the draw outcomes.

Why should one try a Bitcoin Lottery?

Apart from the thrill of maybe winning large, crypto lotteries provide several special benefits:

• Safe and open: You can verify every single draw and transaction.

• There are no geographical restrictions; play wherever on the planet.

• Cut expenses by means of lower transaction fees.

• Instant Payouts: Get your winnings easily and quickly. 

Bottom Line

With improved security, transparency, and worldwide accessibility, a Bitcoin lottery presents a fascinating and creative variation of the classic lottery.

These lotteries are a reliable choice for gamers all around as they guarantee fair and clear results by integrating blockchain technology. Regardless of your experience level, Bitcoin lottery games provide a modern way to try your luck and potentially win big.

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Press Release

Introducing Grok-1.5V: Revolutionizing Multimodal AI

Team Bitcoin Daily

Published

5 days ago

on

July 22, 2024

By

We are thrilled to announce the launch of Grok-1.5V, our groundbreaking first-generation multimodal model. Grok-1.5V, the latest innovation in artificial intelligence, promises to redefine how we interact with and understand the world around us. 

Unveiling Grok-1.5V

Grok-1.5V stands out with its exceptional text processing capabilities, but it goes beyond that. This advanced model can now process a wide array of visual information, including documents, diagrams, charts, screenshots, and photographs. This enhancement allows Grok-1.5V to offer a more comprehensive understanding and interpretation of both textual and visual data.

Capabilities

Grok-1.5V is designed to be competitive with existing frontier multimodal models across various domains. From multi-disciplinary reasoning to understanding complex documents, scientific diagrams, and real-world photographs, Grok-1.5V excels. 

We are particularly proud of Grok’s performance in our new RealWorldQA benchmark, which measures real-world spatial understanding. In zero-shot settings, without chain-of-thought prompting, Grok-1.5V consistently outperforms its peers, showcasing its superior capability in understanding the physical world.

Launch Details

Grok-1.5V will be available soon to our early testers and existing Grok users. We are excited to bring this new level of AI understanding to our community.

Join us as we launch Grok-1.5V on BASE at 19:20 Beijing time today. Don’t miss this opportunity to be part of the future of AI.

Contract Address: 0xeeB0Ea9EcD0Ab9a7a210fA66FCf58ce4747235E6

Stay tuned for more updates and innovations from our team as we continue to push the boundaries of what’s possible with AI.

For more information, visit our website or follow us on X.

Website: https://x.ai

X: https://x.com/xai

Token: x.AI

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