Blockchain networks are decentralized, which means that they can be utilized to make funds with out centralized authorities deciding which transactions are allowed. Whereas some argue that such techniques can allow fraudulent transactions, blockchain networks use superior mathematical applied sciences known as consensus mechanisms to stop this. Thus, blockchains can be utilized by friends to transact with out worry of fraud or censorship. In flip, cryptocurrency allows people to simply assist the causes that they imagine in, even when reaching affected teams by conventional means could also be tough.
Whereas discussing this facet of cryptocurrency, the concept cryptocurrency is commonly used for nefarious functions is commonly argued. Nonetheless, over 99% of cryptocurrency transactions are reliable. In actual fact, it’s typically true that cryptocurrency transactions are used for humanitarian functions. The Giving Block, a big cryptocurrency philanthropy platform, helps over one thousand nonprofit organizations all over the world and is projected to facilitate over USD 1 Billion in donations by the top of 2022. When in comparison with the USD 100 Million in donations that The Giving Block facilitated final 12 months, this determine means that total cryptocurrency donations are rising alongside adoption.
As a result of cryptocurrencies are common, that’s they don’t seem to be tied to particular person international locations, they make accepting donations from anybody on this planet potential throughout occasions when international political circumstances make doing so by conventional cash switch strategies extremely tough. For example drawn from present occasions, cryptocurrency is enabling Russian residents who condemn Vladimir Putin’s invasion of Ukraine to ship assist to Ukraine’s authorities and its folks.
Because the first day of fight, the broader cryptocurrency group has stringently supported Ukraine’s independence. Inside a month of Russia’s invasion, over USD 63 Billion in varied cryptocurrencies had been donated to Ukraine’s official pockets addresses. Since then, donations have solely elevated; in response to tradingplatforms.com, final month’s donations alone topped USD $100 Million. The overwhelming donations being despatched by the cryptocurrency group are being utilized by Ukraine to bolster its defenses and rebuild.
Following their customers, numerous cryptocurrency tasks have jumped on-board in assist of Ukraine. Tasks of all genres and sizes are taking part. For instance, tasks inside the Konstellation ecosystem devoted efforts to elevating charitable donations to Ukraine, considered one of which is Squid Squad OG, the world’s first Rock, Paper, Scissors blockchain-based play-to-earn sport. As soon as the fundraiser concluded, Konstellation Community, a blockchain protocol, matched the donation. By fundraisers held by its varied merchandise, the Konstellation Community donated a complete of over $14,000 USD to Ukraine.
Although the fundraising spherical has ended, SSOG NFTs can nonetheless be purchased. Along with representing the great that cryptocurrency can do, they act as whitelist passes for the second mint of Squid Squad OG’s standard play-to-earn sport, SSOG – a novel title impressed by the hit Netflix particular Squid Video games.
In SSOG, contestants compete for a large prize pool by excessive stakes, excessive rewards video games of Rock Paper Scissors. Losers are eradicated, and winners get nearer and nearer to hitting the jackpot. The ultimate victor wins all of it, however provided that contestants don’t vote to cease the video games early and break up the prize pool between themselves.
Konstellation is a decentralized cross-chain capital markets protocol constructed on the Cosmos community. The undertaking is aimed to effectively join funds and the assorted parts of the asset administration industries with traders. Konstellation’s mission is to develop into the monetary companies trade hub for Cosmos and different blockchain ecosystems utilizing strategic inter-operable blockchain communications.
The Konstellation community is powered by DARC tokens, that are required for the Konstellation community’s governance and transactions. Powered by options corresponding to cross-chain infrastructure, a simplified interface, excessive composability, and easy cross-chain DeFi usability, Konstellation is making headway in attaining its imaginative and prescient.