SATS rose 250% in two days, what happened to the BRC-20 market?
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Recently, the BRC-20 token sats has continued to rise. Coingecko data shows that in the past half month, the price of sats has been hovering around 0.00000002 USDT for a long time. In the past two days, the price has climbed rapidly, reaching a maximum of 0.00000007 USDT, with a maximum increase of nearly 250%. What has happened in the BRC-20 market recently?
Meme coins that Impossible to mint
When it comes to sats, the biggest impression people have on it is its extremely large supply. The total supply of sats is 2,100,000,000,000,000, which is 2,100 trillion, which is 100 million times that of Bitcoin.
Therefore, at the beginning of its launch, many users did not believe that this BRC-20 token would eventually be fully minted. But the enthusiasm of users is powerful, and sats, a meme named after Satoshi Nakamoto, was eventually fully minted.
On September 24, the casting progress of sats reached 100%, with the total number of castings reaching 21,107,258 times and 36,061 holders. The casting started on March 9, 2023 and took a total of 6 months.
Judging from the number of participants, there are enough sats, which to a certain extent represents sufficient "decentralization". Moreover, the token name itself is an "innate advantage", which also gives sats a certain advantage in the competition on the meme track.
Meme coins turned into utility tokens
As the scale of the sats community expands, UniSat, the largest wallet developer in the BRC 20 ecosystem, has also taken a fancy to this "hot potato". The UniSat team is trying to empower sats and increase application scenarios. (note: UniSat Wallet is a Chrome plug-in wallet for the BTC ecosystem, helping users store, mint and transfer BRC-20 tokens, including buying and selling BTC, NFT, domain names, etc.)
The story of Meme coin "empowerment" is not the first time it has happened in the crypto world. Previously, DOGE and SHIB had once triggered heated discussions in the market for "issuing chains". The story this time comes from the fee consumption of swap. In UniSat's latest brc20-swap, sats will be charged as a handling fee, which will cause users to consume a lot of sats.
UniSatWallet stated that brc20-swap will charge a 0.3% service fee to all users participating in the transaction. About 1/6 (0.05%) of this fee is collected by UniSat, and the remaining 5/6 (0.25%) is allocated to each trading pair. All liquidity providers. This fee structure is primarily based on the rate scale currently used by UniSwap. Regarding the use of handling fees, UniSat will donate 2% of its income to L1F (Layer1Foundation). In addition, UniSat will open the fully interpreted and verified source code of brc20-swap to facilitate early support of the indexer.
At present, the brc-20 protocol and even the entire Ordinals ecosystem are still in their early stages, and UniSat occupies a huge market share and influence. Sats is favored by UniSat and provides itself with great positive expectations. OKX data shows that sats generated approximately US$2 million in trading volume in the past 24 hours.
BRC20-swap went online with twists and turns
Previously, due to the "original" user experience and poor liquidity, brc-20 tokens still belonged to the "small circle" niche track, and the lack of infrastructure made it difficult for EVM whales to enter. The opening of UniSat's brc20-swap has opened a channel for more users to enter the Bitcoin ecosystem and trade BRC-20 tokens. The launch of this product has also experienced some setbacks.
On September 27, UniSat Wallet announced the launch of the brc 20-swap testnet, where users can mint BRC-20 tokens, deposit, trade and increase liquidity on its testnet.
On October 10, UniSatWallet announced the release schedule of the brc20-swap mainnet, which is planned to be launched on October 25.
On October 22, UniSat itself encountered technical difficulties. Some users discovered that different markets are using different versions of ord, which index different inscription numbers. Before MagicEden, OKX and UniSat Wallet all used the same ordinal number, there was a risk of double spending when trading BRC-20.
UniSat later issued a response on . We are monitoring the work of contributors and indexers and will promptly notify our users." On the same day, Magic Eden suspended BRC-20 trading.
On October 25, the original scheduled mainnet launch time for brc20-swap has arrived. However, UniSat delayed the launch of the product and postponed its mainnet launch to October 31. At the same time, it stated that during the initial mainnet launch, the team will continue to distribute Prime Access for free; as more users join, the team The performance of the system will be closely monitored and any issues that may arise promptly addressed; after a series of iterations, all features will eventually be made available to all users.
On November 1, Beijing time, the brc 20-swap mainnet was officially launched. However, unlike common "permission-free" DEXs, brc20-swap still requires a certain "permission" before trading can be started.
Among the first batch of online assets, UniSat has included 14 inscription assets in the first batch of support lists for the brc20-swap mainnet, namely: sats, ordi, trac, oshi, btcs, oxbt, texo, cncl, meme, honk, .bit, vmpx, pepe, mxrc. Specifically, asset open trading adopts an "on-demand transaction" model: only when a new user deposits relevant assets into brc20-swap, the withdrawal request can be used.
It seems too early to draw a conclusion on how far the BRC-20 ecology can go. It might as well let the bullets fly for a while and wait for development.
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The Future of Digital Advertising: From Centralized Monopoly to User Empowerment with XWORLD
What was once one of the best-hidden secrets of the online world is not so secret anymore. The seemingly "free" internet comes at a cost: losing control over how our personal information is used. While we browse, our behavior and personal data are collected, analyzed, and monetized, turning us into the product without our consent.
Shifting the Paradigm of the Attention Economy
User data and their attention are the most valuable commodities in the digital age. Unfortunately, that sets the stage for an unfair fight, as traditional digital advertising models are often skewed in favor of large corporations. Internet giants like Google and Facebook dominate the digital ad space, generating billions of dollars by monetizing user information. To illustrate, Meta's ad revenue in Q1 2024 was $35.6 billion, while Google raked in $80.5 billion during the same period. This success relies on turning user behavior-searches, social interactions, and location data-into profitable insights for advertisers. However, as legacy platforms compete fiercely for user attention through tactics like infinite scrolling, personalized recommendations, and push notifications, users are often left with no control over how their data is used.
While ordinary users feel helpless in this monopolized environment, the recent Web3 revolution may bring us new possibilities. Let's take a closer look at how Web3 technology could change the digital advertising space.
Web3 and Decentralization: A New Digital Ecosystem
Web3 technology brings an opportunity to create a more equitable digital ecosystem. This new concept of digital advertising allows users to maintain control over their data, enabling them to choose how their information is used and to profit from their engagement.
Key features of this new, Web3-powered advertising model include:
Data Ownership: Users retain full ownership of their data and can choose to use it as they see fit.
Tokenized Incentives: Users are rewarded for their attention and participation, turning digital interactions into real-world value.
Fair Revenue Distribution: Both developers and users receive a fair share of ad revenue.
Several emerging platforms are utilizing Web3 concepts to move away from the centralized monopoly and give control back to the users. For instance, an application called XWORLD is attempting to put these ideas into practice. XWORLD is an advertising distribution platform built on Web3 principles, primarily focused on distributing games and apps. It provides game and app recommendations and, more importantly, seeks to distribute a portion of the advertising revenue directly to users. If this model succeeds, it could signal a radical shift in the entire industry. With nearly 5.5 million total users and over 600K daily users, XWORLD is among the leaders of this digital revolution revolution.
The core innovation behind XWORLD lies in the new value distribution. Rather than centralizing ad revenue, XWORLD rewards users for their participation and attention. This system redistributes a portion of the advertising revenue generated from game/app promotions to users, empowering them to monetize their digital interactions. The platform is built on the belief that users should be compensated for the value they bring to the digital space, thus creating a more balanced ad ecosystem. Almost $3 million of shared ad revenue through the XWORLD platform so far certainly proves that this concept can succeed.
However, bringing the new decentralized version of the Internet to people is not without challenges:
User Education: As many users are new to these concepts, it's essential to provide them with educational resources to ensure they understand how to take advantage of these platforms.
Technological Maturity: With blockchain technology still developing, Web3-based platforms need to be built to scale with the growing demand for decentralized applications.
Regulatory Landscape: Governments are yet to adapt to Web3 technologies, so there's work to be done to create legal frameworks that will foster a sustainable, decentralized advertising ecosystem.
A Transparent and Fair Future
By decentralizing value distribution and fairly rewarding all the participants, a dynamic Web3-based ecosystem will bring a new standard for fairness, transparency, and efficiency to the attention economy. Users no longer have to accept being exploited for their attention. Instead, they can actively participate and benefit from the value they bring to the table.
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Bitcoin is skyrocketing, XWORLD is bringing you into this wave of wealth | Complete Web3 Guide for Newbies
Web3, simply put, is the next generation of the internet. It’s a departure from the way we’re used to experiencing the online world. Unlike the traditional model, where central authorities like tech giants or governments have a strong grip on how things work, Web3 is all about decentralization. This means power is spread out across a network of users, making decisions more transparent and resistant to control.
Think of it as a shift from a top-down structure to a community-driven one. In the world of Web3, users have more say, ownership, and control over their online interactions. It’s like a digital democracy where everyone has a voice.
XWORLD, a Pioneering Web3 Games & Apps Store, was borned based on Web3 concept.
In the traditional Web2 world, people get almost no income from downloading games in the Apple App Store and posting content on Facebook, because almost 100% of the marketing expenses of games and applications go to platforms such as Apple and Facebook.
However, game application users are what innovative applications should really strive for, and they are also the people to whom marketing expenses should really be given.
Based on this concept, XWORLD is the world’s first games & applications store that distributes most of the Internet advertising revenue to users.
XWORLD is created for bringing billions of ordinary people in the world into Web3 wave of wealth. This guide is your gateway to understanding this exciting new digital landscape. We’ll break down the core principles of Web3, demystify complex terms like blockchain and dApps, and show you how these concepts are being used in real-world applications.
By the time you’re done, you’ll have a solid grasp of what Web3 is all about and (hopefully) get you acclimated to the new era of the internet.
Demystifying Web3
Web3 Defined: Often categorized as the decentralized internet, Web3 represents a departure from the centralized platforms (Web2) that currently dominate the digital space. Centralized entities like Google, Facebook, and Amazon have significant control over your data and autonomy in Web2. In contrast, Web3 seeks to decentralize and democratize that control, empowering individual users.
Blockchain & Its Significance: The blockchain is the backbone of Web3. It’s essentially a digital ledger where data is stored in ‘blocks’ and is chronologically ‘chained’ together. Every entry is transparent and immutable, which means it’s tamper-proof. The decentralized nature ensures data integrity without relying on a central authority.
Tips: As you embark on your Web3 exploration, focus on mastering the foundational concepts. Familiarize yourself with the history of Bitcoin and blockchain, its different types (e.g., public, private, consortium), and its real-world applications.
Setting Up Your Digital Wallet
The Role of Digital Wallets: Consider your digital wallet as your Web3 passport. It’s where you store digital assets like cryptocurrency, interact with dApps (decentralized applications), and authenticate transactions. Unlike traditional bank accounts, you have full custody of your funds, signifying both power and responsibility.
Wallet Varieties: From browser extensions and mobile apps to physical hardware devices, wallets come in various formats. Each has its advantages and is tailored for specific use cases.
Tips: Your wallet’s security is paramount. Whether you’re opting for MetaMask (a popular browser extension) or a hardware wallet like Ledger, always ensure you’re obtaining it from a legitimate source. Store your seed phrase (a recovery tool) securely, preferably offline, and guard it as you would your most prized possession.
Interacting with dApps, Centralized and Decentralized Exchanges, and Web3 Gaming Platforms
What is a dApp?
A dApp, or decentralized application, is a software application that runs on a blockchain network. This means that dApps are not controlled by any single entity, but rather by the network of users who participate in it. This makes dApps more transparent and resistant to censorship than traditional applications, which are typically hosted on centralized servers.
dApps and Apps on XWORLD
How do dApps work?
DApps are built on top of blockchain technology, which is a distributed ledger that records transactions in a secure and transparent way. When a user interacts with a dApp, their actions are recorded on the blockchain. This means that all transactions are visible to everyone on the network, which makes it difficult to fraud or censorship.
What are some popular types of dApps?
There are many different types of dApps, but some of the most popular ones include:
Decentralized finance (DeFi) platforms: DeFi platforms allow users to lend, borrow, and trade cryptocurrencies without the need for a traditional financial institution.
Non-fungible token (NFT) marketplaces: NFT marketplaces allow users to buy and sell NFTs, which are unique digital assets that can represent anything from art to collectibles.
Gaming dApps: Gaming dApps are blockchain-based games that allow users to earn rewards for playing.
Why are dApps important?
DApps have the potential to revolutionize the way we interact with the internet. By removing the need for centralized control, dApps can make the internet more transparent, secure, and accessible to everyone.
Like any new technology, there are some risks associated with dApps. For example, dApps are still in their early stages of development, so there is a risk of bugs and security vulnerabilities. Additionally, dApps can be complex and difficult to use, which can make them inaccessible to some users.
Despite these risks, dApps have the potential to be a major force in the future of the internet. As the technology continues to develop, we can expect to see more and more dApps being created and used.
Exchanges and Token Trading in the Web3 Ecosystem
Digital asset exchanges play a pivotal role in the cryptocurrency and Web3 landscape. These platforms enable users to trade or “swap” their digital assets, either for other tokens or fiat currency. Broadly speaking, exchanges fall under two categories: centralized (CEX) and decentralized (DEX). Each has its unique set of advantages and disadvantages, primarily revolving around custody, user interface, and functionality.
Centralized Exchanges (CEX):
Examples: Binance, Coinbase, Kraken
Custody: Centralized exchanges act as custodians. When you deposit your digital assets into a CEX, you transfer ownership to the exchange’s wallet. While you hold an IOU or a representation of your assets in your account, the actual assets are in the exchange’s custody. This means you rely on the exchange’s security measures to keep your funds safe.
User Interface: CEXs typically offer user-friendly interfaces, making them a popular choice for beginners. These platforms provide a more traditional trading experience, with features like market charts, order books, and advanced trading options.
Functionality: Beyond just trading, many CEXs offer additional services like staking, savings, or even educational resources.
Liquidity: Due to their centralized nature and large user base, CEXs usually have higher liquidity, making large trades more feasible without significant price slippage.
Regulation: Centralized exchanges are more likely to adhere to regulatory guidelines, requiring users to complete Know Your Customer (KYC) procedures, which might deter those seeking privacy.
Decentralized Exchanges (DEX):
Examples: Uniswap, Sushiswap, PancakeSwap
Custody: One of the main advantages of a DEX is the non-custodial nature. You retain ownership of your assets until the trade is executed, using smart contracts. You interact directly from your wallet, without the need to deposit funds on the platform.
User Interface: Historically, DEXs have had less intuitive interfaces compared to CEXs. However, this has been changing rapidly, with many DEXs now offering clean, user-friendly experiences. Still, they might feel more technical to newcomers.
Functionality: DEXs focus primarily on the swapping of assets. Some have added features like liquidity provision, where users can earn fees by supplying tokens to a liquidity pool.
Liquidity: DEXs might have lower liquidity compared to large CEXs, especially for less popular tokens. This can lead to higher slippage. However, liquidity aggregator DEXs are addressing this concern by pooling liquidity from various sources.
Anonymity: DEXs typically do not require KYC, attracting users who prioritize privacy. However, transactions on public blockchains are still transparent and can be traced.
Example of a DEX Interface
Gaming in Web3:
Platforms like Decentraland and Axie Infinity have burst onto the scene, transforming traditional gaming paradigms. Not only do they offer a virtual playground, but they also provide an economic incentive for players. This shift is evident in the different models these platforms embrace:
Play-to-Earn (P2E): This model, as seen in Axie Infinity, allows players to earn digital assets or tokens by participating in the game. These assets can be traded, sold, or used within the game, and often, they have real-world value. It’s a shift from the old model where players spent money on in-app purchases or cosmetics; now, they can potentially earn from their gameplay.
Virtual Real Estate: Platforms like Decentraland allow users to buy, sell, and build upon virtual land. This land has real-world value, and the scarcity of prime locations drives demand. Owners can monetize their virtual real estate by hosting advertisements, creating interactive experiences, or even leasing their land.
Staking and DeFi Integration: Some games integrate decentralized finance (DeFi) mechanisms. Players can stake their in-game assets to earn interest or leverage them in various ways, similar to traditional finance but in a decentralized setting.
Community Governance: Another hallmark of Web3 games is the power they give to their communities. Token holders often have a say in the direction of the game, from gameplay changes to economic models, allowing for a democratic and decentralized decision-making process.
Tips: Always conduct thorough research before interacting with a new dApp, exchange, or gaming platform. Be wary of platforms promising unrealistic returns or those lacking a transparent development team and community feedback.
Additional Tips and Insights
Security: Web3’s freedom comes with increased responsibility. Phishing attempts are rife. Always double-check website URLs, never share your private key or seed phrase, and utilize two-factor authentication when available.
Gas and Transaction Fees: Primarily on the Ethereum network, transactions require a fee called “gas.” This fee can fluctuate based on how busy the network is. Having a grasp of gas fees is essential to avoid excessive payments or insufficient payments, both of which might result in transaction delays.
Understanding Networks: Different blockchain platforms (like Ethereum, Binance Smart Chain, or Solana) have multiple networks. Ensure you’re on the correct network when executing transactions.
Community Engagement: Tapping into Web3 communities can be invaluable. Platforms like Reddit, Discord, or even ‘Crypto’ Twitter have myriad channels dedicated to specific dApps, games, or general Web3 discussions.
Closing Thoughts
Web3 is not merely a technological evolution; it’s a societal and philosophical shift. It promises a more inclusive, transparent, and decentralized digital future. As with any transformative journey, it requires vigilance, continuous learning, and an open yet discerning mind.
As you navigate Web3, prioritize understanding over investment. Take time to learn, experiment with small amounts, and engage with the community. Be sure to subscribe to XWORLD’s Twitter to stay current on the latest industry news and innovations in the world of Web3.
XWORLD
New-Gen Games & Apps Monetization Platform
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