• Web3-marketplace Fragment, which sells the names of Telegram users, began its work. On the evening of October 26, the first auctions were opened on the blockchain platform.
• Names in the form of digital assets are sold using smart contracts.
• Names reserved by the Telegram team, such as @chat, @bank, @cryptotrader and others, are posted on the platform.
• Auctions last one week from the first bid.
• So far, the maximum bid is for the name @casino – 50 thousand TON ($95.5 thousand), followed by @bank with a bid of 35 thousand TON ($66.8 thousand) and @auto – 15 thousand TON ($28.6 thousand).
• The minimum bid depends on the length of the username. The initial cost of the user name of 4 letters is 10 thousand TON (about $19 thousand).
• The minimum price for names with more characters starts from 500 TON ($950).
• Pavel Durov announced plans to launch Web3-marketplace in late August. Other elements of Telegram’s ecosystem, including channels, stickers or emoticons, could also be part of that market later, the Telegram founder said.

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“In a few years, blockchain will be everywhere, but that does not mean that soon we will all be paying in bitcoins. Blockchain is not only a way of transacting cryptocurrencies, it has much more important and promising possibilities. One of them is city management.”

“Blockchain technology should be taken as seriously as the development of the Internet in the early nineties. It’s like an email to send money”.

“I think one of the problems with blockchain is the way it is presented to the world. All the reasoning ends up being pompous statements about the next idea that can change the world completely, destroying banks, money, and so on and so forth. It is too vague to generate practical interest, and too inaccessible for both ordinary and technologically savvy people to understand”.

Errors of Use

Blockchain should not be confused with cloud storage technology. It can hardly be called a database. After all, the system does not store physical information (a document), but rather the irrefutable confirmation of the existence of this information and the history of transactions with it.

The Figure

The World Economic Forum in Davos predicted that by 2027, 10% of all global GDP will be stored in blockchain networks.

Fact

In 2021, interest in blockchain in Europe declined in both the commercial and public sectors. According to a survey by Dell Technologies, other technologies such as artificial intelligence algorithms and industrial and commercial robotics are growing in investment appeal in Europe.

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Analyst firm Chainalysis compared the collapse of FTX to the decline of Mt.Gox to determine how FTX’s bankruptcy would affect the ecosystem. According to Chainalysis, FTX’s bankruptcy is likely to have relatively less impact on the crypto ecosystem than Mt.Gox’s collapse.

Analysts concluded that FTX was a relatively smaller part of the crypto industry than Mt.Gox was at the time, and that the industry should recover faster than ever.

In a Nov. 23 Twitter thread, Chainalysis lead researcher Eric Jardine began his research by comparing the market share of the two firms, finding that Mt Gox averaged 46% of all exchange flows in the year leading up to its collapse in 2014, compared to FTX’s average share of 13% over the 2019 to 2022 period.

Jardine notes that in 2014, when Mt.Gox collapsed, centralized exchanges (CEX) were the only major players in the industry, while in late 2022, nearly half of all exchange inflows were captured by decentralized exchanges (DEX) like Uniswap and Curve.

Jardine believes that while there are other factors, such as Sam Bankman-Fried’s extensive public presence, “the comparison should instill optimism in the industry,” because when it comes down to market fundamentals. There’s no reason to think the industry can’t recover from this by becoming stronger than ever.

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Blockchain is a decentralized database that is stored simultaneously on multiple computers connected to each other on the Internet.

Each block represents a certain numeric code (not only numeric), and any subsequent block contains information from the previous block. Thus, we should consider that it is not only a database, but also a way to encrypt and transfer data.

Around the world, this technology is actively used to transfer cryptocurrencies. If you send a cryptocurrency over a blockchain, thousands of computers around the world will confirm and store all information about the transfer.

The process of sending a transfer takes minutes. Blockchain money cannot be lost or tampered with. There are no third parties or intermediaries, and the accuracy of calculations is guaranteed by the mathematical accuracy of the technology.

Blockchain can be used not only for cryptocurrency transfers. It is used in the banking industry, cybersecurity, and identity verification. Basically, it is just a technology for organizing all kinds of data.

A continuous consecutive chain of blocks containing information, built according to certain rules. Connection between blocks is provided not only by numbering, but also by the fact that each block contains its own hash sum and the hash sum of the previous block. Changing any information in a block will change its hash sum. To comply with the chain rules, the hash sum changes must be written to the next block, which will cause its own hash sum to change.

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