November 7, 2025 • 25 mins
In this conversation, Peter discusses significant developments in the cryptocurrency space, including the partnership between Ripple and Mastercard for credit card settlements on the XRP ledger, updates on Midnight Glacier Drops and mining, the Ethereum ecosystem's transaction metrics, Chainlink's new compliance engine, privacy innovations in VPNs, security in the Cardano ecosystem, and Apex Fusion's cross-chain developments. The conversation highlights the importance of compliance, security, and the evolving landscape of decentralized finance (DeFi).
Takeaways
Chapters
00:00 Ripple and Mastercard Partnership
03:12 Midnight Glacier Drops and Mining Updates
05:58 Ethereum Ecosystem and Transaction Metrics
09:05 Chainlink's Automated Compliance Engine
11:57 Privacy in VPNs and DeFi Hacks
15:11 Cardano's Security and DeFi Opportunities
18:03 Apex Fusion and Cross-Chain Developments
DISCLAIMER: This content is for informational and educational purposes only and is not financial, investment, or legal advice. I am not affiliated with, nor compensated by, the project discussed—no tokens, payments, or incentives received. I do not hold a stake in the project, including private or future allocations. All views are my own, based on public information. Always do your own research and consult a licensed advisor before investing. Crypto investments carry high risk, and past performance is no guarantee of future results. I am not responsible for any decisions you make based on this content.
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Takeaways
- Ripple and Mastercard are collaborating to enhance blockchain adoption.
- The RLUSD credit card settlement is a significant step for stablecoins.
- Midnight Glacier is increasing token availability for miners.
- Ethereum's transaction metrics are misleading and need reevaluation.
- Chainlink's compliance engine is crucial for regulatory adherence.
- Privacy-focused VPNs are emerging in the crypto space.
- DeFi hacks highlight the need for better security measures.
- Cardano's design offers enhanced security against hacks.
- Apex Fusion is making strides in cross-chain capabilities.
- Community support is vital for content creators in the crypto space.
Chapters
00:00 Ripple and Mastercard Partnership
03:12 Midnight Glacier Drops and Mining Updates
05:58 Ethereum Ecosystem and Transaction Metrics
09:05 Chainlink's Automated Compliance Engine
11:57 Privacy in VPNs and DeFi Hacks
15:11 Cardano's Security and DeFi Opportunities
18:03 Apex Fusion and Cross-Chain Developments
DISCLAIMER: This content is for informational and educational purposes only and is not financial, investment, or legal advice. I am not affiliated with, nor compensated by, the project discussed—no tokens, payments, or incentives received. I do not hold a stake in the project, including private or future allocations. All views are my own, based on public information. Always do your own research and consult a licensed advisor before investing. Crypto investments carry high risk, and past performance is no guarantee of future results. I am not responsible for any decisions you make based on this content.
🔗 https://www.youtube.com/watch?v=Fq8FhvxET2k
Subscribe to the audio podcast:
🔗 https://bit.ly/learncardano-spotify
🔗 https://apple.co/3jEPM8C
🔗 https://learncardano.io/
Follow on Social:
🔗 https://x.com/learncardano
🔗 https://facebook.com/learncardano
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Some huge highlights in the crypto space for you guys.
First up, we have Ripple and MasterCard partnering up here.
We also have news around the midnight Glacier drops phase two,
some big updates around that and what happened with Balancer
and this massive hack on their ecosystem. There. Let's get
into it everyone. I'm Peter Thumbs Uplight subscribe on your
(00:21):
way in. Let's get into these highlights for you guys.
First one here is that announcement between Ripple and MasterCard
introducing the rl USD credit card settlement on the xip ledger.
So this is just an initial phase at the moment
where they are going to settle these credit card transactions
(00:41):
that are using RUSD onto the chain. Let me go
through this article quickly for you guys. Ripple Labs XP
is partnering with MasterCard to introduce rl USD credit card
settlements on the XIP ledger. Go further down here. Through
our partnership with Ripple, Gemini and web Bank, this is
the bank institution here that we're interested in. We're using
(01:02):
our global payment network to bring regulated on loop stable
coin payments into the financial mainstream, enabling settlements today while
exploring a how stable coins can support future use cases.
So this is happening right now. So that's a really
big movement and adoption into blockchain technology. So I'm really
(01:23):
boolish about that. The r l USD MasterCard setting test
will see West Bank, the issuer of the Gemini credit card,
explores setling master card transactions using rl USD. If implemented,
this would be one of the first instances of a
regulated US bank setling traditional card payments using regulated stab
coins on public blockchain. This is really big user and
(01:46):
really good for any of the ripple holders out there
and supporters of the technology. So awesome news there, So
awesome news there for rl USD, which has seen massive
amount of growth this year with I think over a
bill in in liquidity on chain at the moment, so
that's really good to see and the growing ecosystem and
adoption of blockchain tech. This next big news story is
(02:08):
around Midnight's scavenger mining. Now this is pretty big in
that they are releasing more tokens for the scavenger mining phase.
So it used to be I think it was six
hundred and twenty six million Night tokens. Now they're inflating
that to one billion tokens for this particular phase. For
anyone that is mining these tokens at the moment using
(02:30):
their browser, they can potentially earn more tokens, which is
really exciting because there's a lot more people jumping on
board at the moment and using their miners to try
and get as much of these tokens as possible. So
there's a big amount of interest, so more people are
jumping on board and more people are With more people,
it means less rewards. So now they're increasing that pool
(02:52):
so that there is a higher amount of rewards per people.
So that's a really good move on the team there.
And this last bit here the final day will be
the browser only to better increase opportunity for all participants. Now,
this is because there's an open API that people can
use to be able to mine the night tokens, So
(03:13):
instead of using your browser and mining, you can actually
code all of this up and use their API to
talk directly to their systems and mine that way. And
a lot of people are doing it this way as well.
I tease this in a post I did earlier this
week about this, and I was going to try and
reveal this, but it's quite technical in regards to how
(03:33):
it all happens. Now there is some more information about this,
but the thing here, the final day will be browser only.
I hope they increase that to a few more days,
or even five days maybe. I know it's only a
twenty one day whole mining experience and we're up to
day seven at the moment. By the time you're watching
this at maybe day eight, but increasing this to browser
(03:55):
only would be better for the majority of people out
there that have no idea how to code or use
an API or a bot to be able to mine
night tokens. So if you want to learn a little
bit more about what's going on, I'll put a link
to this announcement here. Everything I've mentioned already is mentioned
in this blog post, so I don't need to go
through it in this video. Now, if anyone is interested
(04:16):
in mining with an API doing it via command line,
you can use this bit of code here potentially to
try that yourself. Now I haven't tried this, I don't
know how well it works. But Patty here, he's been
on the podcast previously. You can check out the links
for his interview, but he's put together this script here
(04:37):
he's part of the team that put together at markets
and which is now called Fetcher dex Aggregator on Cadano.
But you can go through his code here and try
it out. If you do try it out, please let
me know in the comments down below how you go
In regards to playing around with this, It's all open source.
There is a bit of support around it, but you'll
be able to mine the tokens via a command line
(05:02):
and use this bot to do it all for you,
so it will make it a little bit easier. I
know a lot of people that have been trying to
mine on the browser are having some issues as well
to automatically reset or stall or stop, and I'm having
those issues as well. There are some other scripts out
there that try and automate that process or restart your browser,
but I'm having a bit of hit and mis experience
(05:23):
on the browser experience. I've tried multiple different browsers. I've
used Brave. Firefox is terrible for this, so don't use Firefox.
I've used Edge, which seemed to be going okay until
the difficulty got harder, and then of course Google Chrome,
which seems to be the best performing, but again that
one still stops and have to restart it every now
and then. At the moment I'm not actually mining at
(05:45):
the moment because it's all crashed, I have to restart
my browser to be able to actually do it. But
there are some options there for you guys if you
are doing it via the browser. Now, the difficulty of
this scammage of mind has now also increased with the
amount of people that are participating. They've increased that difficulty
in the mining algorithm here, and you can see that
(06:05):
probably makes absolutely no sense to you. All you need
to know now is that it's taking twice as long
to be able to compute one of these solutions or
the cryptographic mining process. So it's a little bit harder,
it takes a little bit longer and is using up
more resources of your CPU. If you've got a pretty
modern computer, it's turning through them very quickly, and if
(06:27):
you have one or two browser sessions open, it will
get through it quite easily. But if you're running multiple
different mining operations out there, it's going to start to struggle,
So you need to factor that into your cost. If
you're using a server or something like that. If you're
trying to mine so a couple of things to keep
in mind there, and this did difficulty here I think
(06:48):
will increase again multiple times. So we're up to day eight,
so maybe another two or three increases of this difficulty
making it harder and harder to mine the night tokens.
So Paul here has a nice graphic table of the
amount of solutions that have been submitted on chain and
also the amount of rewards that people are getting on
a day to day basis. So since here in day
(07:09):
one we only had eight million solutions, so the night
rewards were quite high and nice. But as time has
gone by, more and more people have spun up instances,
multiple browsers or multiple API bots to be able to
start mining, and you can see that it has increased
quite a lot, and the night rewards have dropped dramatically
(07:30):
as well. It seems to be plateauing at the moment,
and I think it's because people are coming into more
of these issues of mining and scaling up the minings
that it's not worth scaling up much more. That's my theory.
So we may see this plateau off at like seventeen
million solutions per day, and with that difficultly increasing, that
(07:50):
might even decrease quite a lot, and hopefully some of
these Night reward tokens will increase as well, but we
shall see. We'll see how that plays out. Now, there
was a outage. I won't go too deeply into that
because by the time I read that there was an outage,
there was a fix for it. So just to know
if you were having some issues with the process. There
(08:11):
was an outage on the API side of things, so
it came back into play when they fix it all
up within an hour or so. This other news item
here about midnight is more and more exchanges coming online
and saying they would be claiming the night tokens on
behalf of their exchange users. So this exchange here at
NBX will be doing just that. So they're joining some
(08:33):
of the other exchanges out there that are doing this now,
and hopefully we do see some of the really big
exchanges such as coinbase and Finance do the same thing,
so anyone that is holding their assets on those exchanges
will be able to claim the night tokens easily that way.
That'd be really good if they do. This next new
story here is about the scaling of the Ethereum ecosystem,
(08:56):
and this post here I thought was quite interesting. We're
seeing now twenty four thousand transactions per second, which is
incredibly high, and this is on the Ethereum ecosystem. So
just to put in comparison here, we have some other
chain metrics in terms of transactions per second. They're in
May that at twenty four point six transactions per second,
or Chain at thirty transactions per second, and you can
(09:19):
see Base there at one hundred and seventy four transactions
per second. It so to see this here with the
all time high of twenty four thousand is incredibly exciting
to see. But there is a caveat here, and it's
how the transactions are actually measured now, and this metric
here of transactions per second, when you're comparing blockchain to blockchain,
(09:41):
I think really should be scrapped now because a lot
of these chains are manipulating that type of data to
make that number look really good. So for the regular
person out there that is looking at all these different
chains and say, hey, this chain's faster, look at their tps,
look at their transactions per a second, it's not comparing
Apple's with Apples. And that's the big problem here. So
(10:02):
let me just read this little statement here. And the
thing most eth maxims won't tell you because either a
they occluded or b they sold out long ago. It
is that lighter, This is the new chained lighter here
is that Lighter counts every instruction as a transaction, making
it far worse than even Solana at misleading transactions per
(10:25):
seconds while not sharing any transaction data. So every one
of these transactions that's going through is now probably i'm
not sure about this, really really small because it's every
one of those transactions is an instruction. It's not the
actual transaction of the data itself, so it's not saying, hey,
(10:46):
let's move one hundred ethereum eth tokens from this address
to this address is just a part of that transaction,
so a part of a little tiny instruction or it.
So because it's so small and it's a part of
a bigger hole, it makes it look and appear a
lot faster. So it's manipulating how the transactions now are
(11:08):
done so that the transactions per second are appearing a
lot faster. So it's not very clear metric anymore. And
when you're there touting that it is now twenty four
thousand transactions per second, you really have to look into
what's in each one of those transactions as well. So
really interesting news for the ethereum ecosystem, but you need
(11:30):
to understand what actually is happening behind the scenes here
so that you can compare one chain with another. So
dB Crypto here goes to point out this is from
the Solana maxis out there and they're saying it's time
we killed TPS metric system anyway, and this is after
they've been touting our good Solanas for example, transactions per
(11:51):
second are now here. Solana faked, manipulate it and lied
about TPS for years. Now that others are matching their
inflation to numbers, suddenly it's time to stop focusing on TPS.
You can't write a more hilarious timeline. Very interesting, indeed,
very good point. Indeed, yes, definitely it's time to stop
(12:12):
focusing on TPS. Now. This story here from Chainley I
thought was really interesting, and this all comes down to
compliance and they've put together something called an Automated Compliance
Engine or ACE, and they've pulled together all these partners
from all different chains across the ecosystem to make this possible.
So one of the really big things that we need
(12:34):
to look into and worry about really is regulation and compliance.
So these are all the laws that have been put
in place around the world so that anyone that is
operating in the crypto space and the regular financial markets
are complying too. So they're looking at KYC, NOAH, your
Customer AML, anti money laundering laws, all those different aspects
(12:58):
to try and keep customers safe, stop money laundering and
malicious activity happening in the world using the financial systems.
So crypt and crypto has to follow all those same rules.
And this coming together here to of all these various
partners that are complying and putting in the hard work
to make sure that whatever's being built complies with the
(13:21):
different regulations I think is phenomenal for the crypto space.
And having chain Link put this together and form this partnership,
I think is really really important. So let me just
go through these headlines here. Today we're launching a chain
Link Automated Compliance Engine ACE partner ecosystem featuring twenty plus
leading compliance providers, froneworks and regulators paraly the next generation
(13:43):
of on chain compliance. The ACE as the standard for
on chain compliance and are integrating their data and service
directly into ACE to unlock complete compliance, monitoring and reporting solutions. Now,
some of the big names here you may not recognize,
but some of these as regular retail users you may know.
(14:06):
If you've ever gone through a ICO initial coin offering,
you may have gone through a kyic process with some
sub and they have been in so many different icos
that I've been participating in over the years, so it's
good to see big names like that. The other one
here is from the Cadano Foundation and their Varidian Solution,
(14:27):
which is their identity solution. I thought it was really
cool to have that one put on board because that
is a really nice way to manage identity with their platform. There.
We also have chain Analysis, which everyone I think has
seen on x or online with their deep analysis into
what is happening on chain on all the different ecosystems.
(14:50):
And there's a whole bunch of other names here that
you may very well know, but for me, I don't
know them too well, so I won't highlight them too
much at this point. But if you want to find
out more about this particular announcement, I'll put the links
down below to this particular blog post here that talks
about this, but here you can see just a few
of the names that are part of this big announcement here,
so awesome work. Compliance and regulation is one of those
(15:13):
boring topics in the crypto space, but for bigger institutional adoption,
it's definitely something that we need here. So if you
want to read through that and learn more about all
the partners, links down blow for you guys in the
show notes. Now, many of the videos on the internets
that you watch may advertise something like Shark VPN or
nord VPN, those virtual private networks, those services that help
(15:36):
keep your identity anonymous online. Now this one here I
thought was really cool because it takes a step further
keeping everything anonymous. So it doesn't even take your credit
card details, not even an email address, or tracks any
of that type of data. And this is nabu VPN
(15:57):
and it's built on Cadano and you can check it
out at naboovpn dot com and it doesn't track any
of your data at all, and that's a really cool
thing about it. You can connect your wallet, which is
then your unique identifier, from your address, so if you
want to be very anonymous, you can fire up a
brand new wallet and somehow fund that from different sources
(16:18):
and then start using this very private, transparent VPN service
that doesn't track any of that data, and you're paying
in crypto and you're not giving up your email address
or any type of data there. So this is a
very cool service that has just launched. I will be
trying out and I'll let you guys know how I
go with it. This isn't a sponsored ad, but you
may see in the future links down below. You want
(16:41):
to protect your privacy, sign up to Naboo VPN where
you can get an x amount discount. But it maybe
one day, but we'll see how they got They've literally
just launched. They haven't got any of those type of
deals yet, but one day, I'm sure they will. So
it's pretty exciting to see this type of privacy in
the VPN space. Now, I thought this was really really
big news. And we're constantly seeing hack after hack after
(17:05):
hack in the DeFi space, and it's really hard to
bring people into DeFi decentralized finance when there are these
massive hacks continuously happening. And this one here, let me
just go through the details for you guys. Balancer, this
is a automated market maker, liquidity pool thing in the
EVM space. But Balancer went through ten plus audits. The
(17:30):
vaults were audited three separate times by different firms, and
it's still got hacked for one hundred and ten million.
This space needs to accept that audited by X means nothing.
Code is hard to DeFi is harder. It is unfortunate,
but hope teams recover. So this The screenshot here shows
all the audits that the Balancer platform had gone through,
(17:53):
so you can see these are big auditing firms that
you know audit so many different projects out there, and
they've been auditing since our Balancer since twenty twenty one,
all the way up to twenty twenty three. Maybe it's
a recent release or something I don't know that needs
to be audited, but someone somehow found a vulnerability and
(18:14):
managed to liquidate a massive amount of funds within the ecosystem.
There so very unfortunate to see that happen, but this
is a really good reason why a lot of people
choose to build on Kardano. Kadana has been online and
operating for eight plus years and still there is no
major hack within the Kadana ecosystem. Been some close calls,
(18:36):
but thankfully nothing major has come about from any of
those vulnerabilities. So this here, let me just go through
this post here balance it was ordered ten times, yet
hackers can still come along and steal one hundred and
twenty million while you're sleeping. This is the reality of EVM.
Account based systems invite the same failures shared state. This
is the reality of EVM. Then there is Kadano. It's
(18:59):
determined this isolated UTXO design prevents this from happening. And
this is one of the best things about the Kardano.
It's definitely harder to build on. There's less tools, but
every day that's evolving and making it easy for developers
build out there. And the other chain that does UTXO
as well is Bitcoin, so the two chains are very
(19:22):
very similar in design, and this is why Kadano DeFi
is looking at Bitcoin as well and to form that
DeFi layer for the Bitcoin ecosystem. So for any bitcoins
out there were interested in DeFi but didn't trust the
whole EVM DeFi ecosystem because it's constantly getting hacked. What
(19:42):
better place to place and park your potential bitcoin than
Kadano ecosystem where it has never been hacked and has
a much higher level of security compared to the EVM
chains out there, and that's what the Kadana ecosystem is
aiming for at the moment with the Bitcoin DeFi layer.
So hopefully we do see this sometime soon. I'll keep
(20:05):
you guys up to date when that actually happens. Now,
a few more news items and I'll go through these
very quickly. Catalyst Fund fifteen is launching really soon, so
if you're building a project and you'll want some funding,
Catalyst is a great way of going about it. There
is a lot of paperwork and a bit of process
to it, but you can get some funding from Catalysts,
So keep an eye out on those that X account
(20:25):
for what's happening with Catalyst. The timeline is here as well,
so we're looking at some mission deadlines by the twenty
seventh of November, with community reviews starting early December and
then the open voting period opening up much later in January.
If you're into prediction markets, Bidega Markets now has a massive,
big revamp of their platform, so I think this might
(20:47):
be version four now or something. They constantly are evolving
the platform make it nicer, and easier to use. So
if you use polymarkets, this is another version of polymarkets
called Bidega market. It's built on the Caddana ecosystem as well.
So something for you guys to check out now. One
of the really cool projects that is building on Kadano
or has built or is thriving at the moment is
(21:10):
Strike Finance. This is a perpetual market. One of the
really cool things that I want to point out about this,
if you didn't realize, is that their rewards for staking
is paid out in AIDA. So if you have the
strike token, you've been holding on to it and you don't
know what to do with it, you stake it on
the platform and you get AIDA as the rewards. These
are part of the fees that the platform collects when
(21:30):
people use it for doing shorts and longs, trying to
predict which way the market's going. But in doing so,
they collect the AIDA liquidity when people get liquidated, or
the fees for setting up these long and short positions,
and that will goes to their stakers. If you're staking
on the platform, it is seriously an easy way to
earn extra AIDA, and you can exit that liquidity very
(21:52):
quickly and easily on to pay for things or whatever
you want. And if they were using that to create
more strike tokens or create more inflation in the ecosystem,
but instead they decided to give you the eight or awards.
So really smart play there with the team from strike Finance. Now,
this last news item I want to talk about is
from apex Fusion and they're building in EVM capabilities onto
(22:13):
the Kadana ecosystem. Don't know if that's a really good thing,
especially with the balancer hack and you know, all those
vulnerabilities that could potentially open up. But opening up EVM
capabilities brings in more developers and more tunities, so either way,
it's kind of a good thing. But apex Fusion and
Stargate have now made it possible to bridge over USDC
(22:36):
onto the Kadana ecosystem. Now this isn't something new. USDC
is available to be bridged over via other platforms such
as one chain, and people that have been wanting to
bridge USDC over have been doing so for quite a while.
And there's a lot of DeFi opportunities in let's say
Liquid Finance to park that USDC and earn a really
(22:58):
attractive interest rate. I think it's at seventeen or twenty
percent at the moment to try and bring in that liquidity,
so it's really really attractive to try and get the
rewards there. That's the apex Fusion team have now done
this as well, so it's giving us a few more options.
Now let me read this reality check and I thought
it's kind of important. And this comes from decimalist Nate.
(23:19):
I did an interview with him the other day about
his platform, Adam. But let me just go through this
reality check on this USDC via apex Usion and Stargate.
Solid work by the team bridging real USDC bridge, though
not Circle native on Ada. That's that's fine, seated with
two point five million liquidity for a smooth DeFi on vector.
(23:40):
Brilliant job there. I agree. I set up with the
jed ISOSD with Circle backing acts native issue for traders,
but can still get a hit indirectly if Circle freezes
the source. Not revolutionary, just a bridge, just another bridge
that we've seen before. But props to Apex for grinding
making cross chain less painful, stay progress non moonshot. So
(24:03):
overall good onboarding onto the Kadana ecosystem, but might need
a little bit of tweaking, steady progress, not a moonshots.
I kind of agree with Nate's a sentiment there with
this particular announcement. I think apex Fusion has been developing
and building for I don't know, maybe one and a
half to two years, so it's good to see that
some progress has been made here with this type of development,
(24:26):
bring in extra liquidity on chain. So awesome news overall.
And that's it for this particular news update. If you
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(24:49):
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in the next video
Some huge highlights in the crypto space for you guys.
First up, we have Ripple and MasterCard partnering up here.
We also have news around the midnight Glacier drops phase two,
some big updates around that and what happened with Balancer
and this massive hack on their ecosystem. There. Let's get
into it everyone. I'm Peter Thumbs Uplight subscribe on your
(00:21):
way in. Let's get into these highlights for you guys.
First one here is that announcement between Ripple and MasterCard
introducing the rl USD credit card settlement on the xip ledger.
So this is just an initial phase at the moment
where they are going to settle these credit card transactions
(00:41):
that are using RUSD onto the chain. Let me go
through this article quickly for you guys. Ripple Labs XP
is partnering with MasterCard to introduce rl USD credit card
settlements on the XIP ledger. Go further down here. Through
our partnership with Ripple, Gemini and web Bank, this is
the bank institution here that we're interested in. We're using
(01:02):
our global payment network to bring regulated on loop stable
coin payments into the financial mainstream, enabling settlements today while
exploring a how stable coins can support future use cases.
So this is happening right now. So that's a really
big movement and adoption into blockchain technology. So I'm really
(01:23):
boolish about that. The r l USD MasterCard setting test
will see West Bank, the issuer of the Gemini credit card,
explores setling master card transactions using rl USD. If implemented,
this would be one of the first instances of a
regulated US bank setling traditional card payments using regulated stab
coins on public blockchain. This is really big user and
(01:46):
really good for any of the ripple holders out there
and supporters of the technology. So awesome news there, So
awesome news there for rl USD, which has seen massive
amount of growth this year with I think over a
bill in in liquidity on chain at the moment, so
that's really good to see and the growing ecosystem and
adoption of blockchain tech. This next big news story is
(02:08):
around Midnight's scavenger mining. Now this is pretty big in
that they are releasing more tokens for the scavenger mining phase.
So it used to be I think it was six
hundred and twenty six million Night tokens. Now they're inflating
that to one billion tokens for this particular phase. For
anyone that is mining these tokens at the moment using
(02:30):
their browser, they can potentially earn more tokens, which is
really exciting because there's a lot more people jumping on
board at the moment and using their miners to try
and get as much of these tokens as possible. So
there's a big amount of interest, so more people are
jumping on board and more people are With more people,
it means less rewards. So now they're increasing that pool
(02:52):
so that there is a higher amount of rewards per people.
So that's a really good move on the team there.
And this last bit here the final day will be
the browser only to better increase opportunity for all participants. Now,
this is because there's an open API that people can
use to be able to mine the night tokens, So
(03:13):
instead of using your browser and mining, you can actually
code all of this up and use their API to
talk directly to their systems and mine that way. And
a lot of people are doing it this way as well.
I tease this in a post I did earlier this
week about this, and I was going to try and
reveal this, but it's quite technical in regards to how
(03:33):
it all happens. Now there is some more information about this,
but the thing here, the final day will be browser only.
I hope they increase that to a few more days,
or even five days maybe. I know it's only a
twenty one day whole mining experience and we're up to
day seven at the moment. By the time you're watching
this at maybe day eight, but increasing this to browser
(03:55):
only would be better for the majority of people out
there that have no idea how to code or use
an API or a bot to be able to mine
night tokens. So if you want to learn a little
bit more about what's going on, I'll put a link
to this announcement here. Everything I've mentioned already is mentioned
in this blog post, so I don't need to go
through it in this video. Now, if anyone is interested
(04:16):
in mining with an API doing it via command line,
you can use this bit of code here potentially to
try that yourself. Now I haven't tried this, I don't
know how well it works. But Patty here, he's been
on the podcast previously. You can check out the links
for his interview, but he's put together this script here
(04:37):
he's part of the team that put together at markets
and which is now called Fetcher dex Aggregator on Cadano.
But you can go through his code here and try
it out. If you do try it out, please let
me know in the comments down below how you go
In regards to playing around with this, It's all open source.
There is a bit of support around it, but you'll
be able to mine the tokens via a command line
(05:02):
and use this bot to do it all for you,
so it will make it a little bit easier. I
know a lot of people that have been trying to
mine on the browser are having some issues as well
to automatically reset or stall or stop, and I'm having
those issues as well. There are some other scripts out
there that try and automate that process or restart your browser,
but I'm having a bit of hit and mis experience
(05:23):
on the browser experience. I've tried multiple different browsers. I've
used Brave. Firefox is terrible for this, so don't use Firefox.
I've used Edge, which seemed to be going okay until
the difficulty got harder, and then of course Google Chrome,
which seems to be the best performing, but again that
one still stops and have to restart it every now
and then. At the moment I'm not actually mining at
(05:45):
the moment because it's all crashed, I have to restart
my browser to be able to actually do it. But
there are some options there for you guys if you
are doing it via the browser. Now, the difficulty of
this scammage of mind has now also increased with the
amount of people that are participating. They've increased that difficulty
in the mining algorithm here, and you can see that
(06:05):
probably makes absolutely no sense to you. All you need
to know now is that it's taking twice as long
to be able to compute one of these solutions or
the cryptographic mining process. So it's a little bit harder,
it takes a little bit longer and is using up
more resources of your CPU. If you've got a pretty
modern computer, it's turning through them very quickly, and if
(06:27):
you have one or two browser sessions open, it will
get through it quite easily. But if you're running multiple
different mining operations out there, it's going to start to struggle,
So you need to factor that into your cost. If
you're using a server or something like that. If you're
trying to mine so a couple of things to keep
in mind there, and this did difficulty here I think
(06:48):
will increase again multiple times. So we're up to day eight,
so maybe another two or three increases of this difficulty
making it harder and harder to mine the night tokens.
So Paul here has a nice graphic table of the
amount of solutions that have been submitted on chain and
also the amount of rewards that people are getting on
a day to day basis. So since here in day
(07:09):
one we only had eight million solutions, so the night
rewards were quite high and nice. But as time has
gone by, more and more people have spun up instances,
multiple browsers or multiple API bots to be able to
start mining, and you can see that it has increased
quite a lot, and the night rewards have dropped dramatically
(07:30):
as well. It seems to be plateauing at the moment,
and I think it's because people are coming into more
of these issues of mining and scaling up the minings
that it's not worth scaling up much more. That's my theory.
So we may see this plateau off at like seventeen
million solutions per day, and with that difficultly increasing, that
(07:50):
might even decrease quite a lot, and hopefully some of
these Night reward tokens will increase as well, but we
shall see. We'll see how that plays out. Now, there
was a outage. I won't go too deeply into that
because by the time I read that there was an outage,
there was a fix for it. So just to know
if you were having some issues with the process. There
(08:11):
was an outage on the API side of things, so
it came back into play when they fix it all
up within an hour or so. This other news item
here about midnight is more and more exchanges coming online
and saying they would be claiming the night tokens on
behalf of their exchange users. So this exchange here at
NBX will be doing just that. So they're joining some
(08:33):
of the other exchanges out there that are doing this now,
and hopefully we do see some of the really big
exchanges such as coinbase and Finance do the same thing,
so anyone that is holding their assets on those exchanges
will be able to claim the night tokens easily that way.
That'd be really good if they do. This next new
story here is about the scaling of the Ethereum ecosystem,
(08:56):
and this post here I thought was quite interesting. We're
seeing now twenty four thousand transactions per second, which is
incredibly high, and this is on the Ethereum ecosystem. So
just to put in comparison here, we have some other
chain metrics in terms of transactions per second. They're in
May that at twenty four point six transactions per second,
or Chain at thirty transactions per second, and you can
(09:19):
see Base there at one hundred and seventy four transactions
per second. It so to see this here with the
all time high of twenty four thousand is incredibly exciting
to see. But there is a caveat here, and it's
how the transactions are actually measured now, and this metric
here of transactions per second, when you're comparing blockchain to blockchain,
(09:41):
I think really should be scrapped now because a lot
of these chains are manipulating that type of data to
make that number look really good. So for the regular
person out there that is looking at all these different
chains and say, hey, this chain's faster, look at their tps,
look at their transactions per a second, it's not comparing
Apple's with Apples. And that's the big problem here. So
(10:02):
let me just read this little statement here. And the
thing most eth maxims won't tell you because either a
they occluded or b they sold out long ago. It
is that lighter, This is the new chained lighter here
is that Lighter counts every instruction as a transaction, making
it far worse than even Solana at misleading transactions per
(10:25):
seconds while not sharing any transaction data. So every one
of these transactions that's going through is now probably i'm
not sure about this, really really small because it's every
one of those transactions is an instruction. It's not the
actual transaction of the data itself, so it's not saying, hey,
(10:46):
let's move one hundred ethereum eth tokens from this address
to this address is just a part of that transaction,
so a part of a little tiny instruction or it.
So because it's so small and it's a part of
a bigger hole, it makes it look and appear a
lot faster. So it's manipulating how the transactions now are
(11:08):
done so that the transactions per second are appearing a
lot faster. So it's not very clear metric anymore. And
when you're there touting that it is now twenty four
thousand transactions per second, you really have to look into
what's in each one of those transactions as well. So
really interesting news for the ethereum ecosystem, but you need
(11:30):
to understand what actually is happening behind the scenes here
so that you can compare one chain with another. So
dB Crypto here goes to point out this is from
the Solana maxis out there and they're saying it's time
we killed TPS metric system anyway, and this is after
they've been touting our good Solanas for example, transactions per
(11:51):
second are now here. Solana faked, manipulate it and lied
about TPS for years. Now that others are matching their
inflation to numbers, suddenly it's time to stop focusing on TPS.
You can't write a more hilarious timeline. Very interesting, indeed,
very good point. Indeed, yes, definitely it's time to stop
(12:12):
focusing on TPS. Now. This story here from Chainley I
thought was really interesting, and this all comes down to
compliance and they've put together something called an Automated Compliance
Engine or ACE, and they've pulled together all these partners
from all different chains across the ecosystem to make this possible.
So one of the really big things that we need
(12:34):
to look into and worry about really is regulation and compliance.
So these are all the laws that have been put
in place around the world so that anyone that is
operating in the crypto space and the regular financial markets
are complying too. So they're looking at KYC, NOAH, your
Customer AML, anti money laundering laws, all those different aspects
(12:58):
to try and keep customers safe, stop money laundering and
malicious activity happening in the world using the financial systems.
So crypt and crypto has to follow all those same rules.
And this coming together here to of all these various
partners that are complying and putting in the hard work
to make sure that whatever's being built complies with the
(13:21):
different regulations I think is phenomenal for the crypto space.
And having chain Link put this together and form this partnership,
I think is really really important. So let me just
go through these headlines here. Today we're launching a chain
Link Automated Compliance Engine ACE partner ecosystem featuring twenty plus
leading compliance providers, froneworks and regulators paraly the next generation
(13:43):
of on chain compliance. The ACE as the standard for
on chain compliance and are integrating their data and service
directly into ACE to unlock complete compliance, monitoring and reporting solutions. Now,
some of the big names here you may not recognize,
but some of these as regular retail users you may know.
(14:06):
If you've ever gone through a ICO initial coin offering,
you may have gone through a kyic process with some
sub and they have been in so many different icos
that I've been participating in over the years, so it's
good to see big names like that. The other one
here is from the Cadano Foundation and their Varidian Solution,
(14:27):
which is their identity solution. I thought it was really
cool to have that one put on board because that
is a really nice way to manage identity with their platform. There.
We also have chain Analysis, which everyone I think has
seen on x or online with their deep analysis into
what is happening on chain on all the different ecosystems.
(14:50):
And there's a whole bunch of other names here that
you may very well know, but for me, I don't
know them too well, so I won't highlight them too
much at this point. But if you want to find
out more about this particular announcement, I'll put the links
down below to this particular blog post here that talks
about this, but here you can see just a few
of the names that are part of this big announcement here,
so awesome work. Compliance and regulation is one of those
(15:13):
boring topics in the crypto space, but for bigger institutional adoption,
it's definitely something that we need here. So if you
want to read through that and learn more about all
the partners, links down blow for you guys in the
show notes. Now, many of the videos on the internets
that you watch may advertise something like Shark VPN or
nord VPN, those virtual private networks, those services that help
(15:36):
keep your identity anonymous online. Now this one here I
thought was really cool because it takes a step further
keeping everything anonymous. So it doesn't even take your credit
card details, not even an email address, or tracks any
of that type of data. And this is nabu VPN
(15:57):
and it's built on Cadano and you can check it
out at naboovpn dot com and it doesn't track any
of your data at all, and that's a really cool
thing about it. You can connect your wallet, which is
then your unique identifier, from your address, so if you
want to be very anonymous, you can fire up a
brand new wallet and somehow fund that from different sources
(16:18):
and then start using this very private, transparent VPN service
that doesn't track any of that data, and you're paying
in crypto and you're not giving up your email address
or any type of data there. So this is a
very cool service that has just launched. I will be
trying out and I'll let you guys know how I
go with it. This isn't a sponsored ad, but you
may see in the future links down below. You want
(16:41):
to protect your privacy, sign up to Naboo VPN where
you can get an x amount discount. But it maybe
one day, but we'll see how they got They've literally
just launched. They haven't got any of those type of
deals yet, but one day, I'm sure they will. So
it's pretty exciting to see this type of privacy in
the VPN space. Now, I thought this was really really
big news. And we're constantly seeing hack after hack after
(17:05):
hack in the DeFi space, and it's really hard to
bring people into DeFi decentralized finance when there are these
massive hacks continuously happening. And this one here, let me
just go through the details for you guys. Balancer, this
is a automated market maker, liquidity pool thing in the
EVM space. But Balancer went through ten plus audits. The
(17:30):
vaults were audited three separate times by different firms, and
it's still got hacked for one hundred and ten million.
This space needs to accept that audited by X means nothing.
Code is hard to DeFi is harder. It is unfortunate,
but hope teams recover. So this The screenshot here shows
all the audits that the Balancer platform had gone through,
(17:53):
so you can see these are big auditing firms that
you know audit so many different projects out there, and
they've been auditing since our Balancer since twenty twenty one,
all the way up to twenty twenty three. Maybe it's
a recent release or something I don't know that needs
to be audited, but someone somehow found a vulnerability and
(18:14):
managed to liquidate a massive amount of funds within the ecosystem.
There so very unfortunate to see that happen, but this
is a really good reason why a lot of people
choose to build on Kardano. Kadana has been online and
operating for eight plus years and still there is no
major hack within the Kadana ecosystem. Been some close calls,
(18:36):
but thankfully nothing major has come about from any of
those vulnerabilities. So this here, let me just go through
this post here balance it was ordered ten times, yet
hackers can still come along and steal one hundred and
twenty million while you're sleeping. This is the reality of EVM.
Account based systems invite the same failures shared state. This
is the reality of EVM. Then there is Kadano. It's
(18:59):
determined this isolated UTXO design prevents this from happening. And
this is one of the best things about the Kardano.
It's definitely harder to build on. There's less tools, but
every day that's evolving and making it easy for developers
build out there. And the other chain that does UTXO
as well is Bitcoin, so the two chains are very
(19:22):
very similar in design, and this is why Kadano DeFi
is looking at Bitcoin as well and to form that
DeFi layer for the Bitcoin ecosystem. So for any bitcoins
out there were interested in DeFi but didn't trust the
whole EVM DeFi ecosystem because it's constantly getting hacked. What
(19:42):
better place to place and park your potential bitcoin than
Kadano ecosystem where it has never been hacked and has
a much higher level of security compared to the EVM
chains out there, and that's what the Kadana ecosystem is
aiming for at the moment with the Bitcoin DeFi layer.
So hopefully we do see this sometime soon. I'll keep
(20:05):
you guys up to date when that actually happens. Now,
a few more news items and I'll go through these
very quickly. Catalyst Fund fifteen is launching really soon, so
if you're building a project and you'll want some funding,
Catalyst is a great way of going about it. There
is a lot of paperwork and a bit of process
to it, but you can get some funding from Catalysts,
So keep an eye out on those that X account
(20:25):
for what's happening with Catalyst. The timeline is here as well,
so we're looking at some mission deadlines by the twenty
seventh of November, with community reviews starting early December and
then the open voting period opening up much later in January.
If you're into prediction markets, Bidega Markets now has a massive,
big revamp of their platform, so I think this might
(20:47):
be version four now or something. They constantly are evolving
the platform make it nicer, and easier to use. So
if you use polymarkets, this is another version of polymarkets
called Bidega market. It's built on the Caddana ecosystem as well.
So something for you guys to check out now. One
of the really cool projects that is building on Kadano
or has built or is thriving at the moment is
(21:10):
Strike Finance. This is a perpetual market. One of the
really cool things that I want to point out about this,
if you didn't realize, is that their rewards for staking
is paid out in AIDA. So if you have the
strike token, you've been holding on to it and you don't
know what to do with it, you stake it on
the platform and you get AIDA as the rewards. These
are part of the fees that the platform collects when
(21:30):
people use it for doing shorts and longs, trying to
predict which way the market's going. But in doing so,
they collect the AIDA liquidity when people get liquidated, or
the fees for setting up these long and short positions,
and that will goes to their stakers. If you're staking
on the platform, it is seriously an easy way to
earn extra AIDA, and you can exit that liquidity very
(21:52):
quickly and easily on to pay for things or whatever
you want. And if they were using that to create
more strike tokens or create more inflation in the ecosystem,
but instead they decided to give you the eight or awards.
So really smart play there with the team from strike Finance. Now,
this last news item I want to talk about is
from apex Fusion and they're building in EVM capabilities onto
(22:13):
the Kadana ecosystem. Don't know if that's a really good thing,
especially with the balancer hack and you know, all those
vulnerabilities that could potentially open up. But opening up EVM
capabilities brings in more developers and more tunities, so either way,
it's kind of a good thing. But apex Fusion and
Stargate have now made it possible to bridge over USDC
(22:36):
onto the Kadana ecosystem. Now this isn't something new. USDC
is available to be bridged over via other platforms such
as one chain, and people that have been wanting to
bridge USDC over have been doing so for quite a while.
And there's a lot of DeFi opportunities in let's say
Liquid Finance to park that USDC and earn a really
(22:58):
attractive interest rate. I think it's at seventeen or twenty
percent at the moment to try and bring in that liquidity,
so it's really really attractive to try and get the
rewards there. That's the apex Fusion team have now done
this as well, so it's giving us a few more options.
Now let me read this reality check and I thought
it's kind of important. And this comes from decimalist Nate.
(23:19):
I did an interview with him the other day about
his platform, Adam. But let me just go through this
reality check on this USDC via apex Usion and Stargate.
Solid work by the team bridging real USDC bridge, though
not Circle native on Ada. That's that's fine, seated with
two point five million liquidity for a smooth DeFi on vector.
(23:40):
Brilliant job there. I agree. I set up with the
jed ISOSD with Circle backing acts native issue for traders,
but can still get a hit indirectly if Circle freezes
the source. Not revolutionary, just a bridge, just another bridge
that we've seen before. But props to Apex for grinding
making cross chain less painful, stay progress non moonshot. So
(24:03):
overall good onboarding onto the Kadana ecosystem, but might need
a little bit of tweaking, steady progress, not a moonshots.
I kind of agree with Nate's a sentiment there with
this particular announcement. I think apex Fusion has been developing
and building for I don't know, maybe one and a
half to two years, so it's good to see that
some progress has been made here with this type of development,
(24:26):
bring in extra liquidity on chain. So awesome news overall.
And that's it for this particular news update. If you
enjoyed the content, make sure you hit that thumbs up
light subscribe on your way out. I also have some
other means here on these links here or buy me
a coffee and patron it's a really good way for
you guys to support me directly or all the work
I do in the crypto and blockchain space. But also
(24:49):
got some membership links down there for YouTube memberships as well,
and a big shout out and thank you for all
the people that have brought me a coffee and our
YouTube members out there. You guys. Absolute Rock can't do
this work without you, guys. Without I'll see you guys
in the next video
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