Blockchain networks are decentralized, that 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 referred to as consensus mechanisms to stop this. Thus, blockchains can be utilized by friends to transact with out concern of fraud or censorship. In flip, cryptocurrency permits people to simply help the causes that they consider in, even when reaching affected teams via conventional means could also be troublesome.
Whereas discussing this side of cryptocurrency, the concept cryptocurrency is commonly used for nefarious functions is commonly argued. Nonetheless, over 99% of cryptocurrency transactions are reliable. In truth, 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 world wide and is projected to facilitate over USD 1 Billion in donations by the tip 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 nations, they make accepting donations from anybody on this planet doable throughout instances when international political circumstances make doing so via conventional cash switch strategies extremely troublesome. For instance 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 individuals.
For the reason that first day of fight, the broader cryptocurrency neighborhood 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 neighborhood are being utilized by Ukraine to bolster its defenses and rebuild.
Following their customers, numerous cryptocurrency initiatives have jumped on-board in help of Ukraine. Initiatives of all genres and sizes are taking part. For instance, initiatives throughout the Konstellation ecosystem devoted efforts to elevating charitable donations to Ukraine, one in all 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 means of 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 nice that cryptocurrency can do, they act as whitelist passes for the second mint of Squid Squad OG’s well-liked 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 via 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 cut up the prize pool between themselves.
About Konstellation
Konstellation is a decentralized cross-chain capital markets protocol constructed on the Cosmos community. The challenge is aimed to effectively join funds and the assorted parts of the asset administration industries with traders. Konstellation’s mission is to turn 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 akin to cross-chain infrastructure, a simplified interface, excessive composability, and easy cross-chain DeFi usability, Konstellation is making headway in reaching its imaginative and prescient.
