Alrighty, so, without further ado, let's dive right in. This week's top 3 news on LTC, BAT, ADA and DAI:
3. Atari partners with Litecoin Foundation
Saying Atari has been here for a while is an understatement. One of the most iconic names in the gaming industry, Atari, decided that their interests align with the LTC Foundation's, and voila, we have a big ass partnership. Basically, what will happen is, well, everyone paying to buy any of Atari's gaming products in LTC (this includes the new, upcoming Atari 2020 VCS) will get an exclusive discount. Now, this is a pretty smart move, since the gaming community is already pretty tech-literate, so not much additional effort (in comparison to the people who have never used a laptop for example) will have to go in from their side in order to get acquainted with LTC's technology and usage. This should of course, benefit both communities and promote adoption of Atari's products, as well as increase LTC's community.
2. Old Dai shutting down
The original MakerDAO protocol, following the events of March 12, 2020, shut down on May 12th. Why is this important you ask? Well, as the followers of DAI know, ETH was the only cryptocurrency viable as collateral for the lending platform. When the migration process from Sai to Multi Collateral DAI was started back in November, BAT was added as an option for collateral as well with ETH still being the primary one. This means that DAI becomes intertwined with BAT and directly helps its offer to demand ratio, and at the very least its stability which translates into steadily declining volatility and slowly growing price.
1. Cardano working on a microchip that will give crypto a cash like experience
This one even came up in my google feed. Cardano team send shockwaves through the crypto-space with the announcement of pursuing the idea of internet-less cryptocurrency. What they are looking to do is increase use cases and promote mass adoption to the highest level by making it the equivalent of fiat. I can definitely see how this would be very practical for a lot of people who do not specialize in "magic internet money" like us, cool internet people here, and what's more it's a practical move aimed at the present, as much as it's aimed at the future. I mean, the use cases are really widely applicable, all the way from supply chain usage, to the infinite scalability of cryptocurrency. And if someone's Professor Chaos' evil alter ego prevails and destroys the internet, our magic internet money would still be safe.
For those unfamiliar with Southpark's Butters' alter ego - Professor Chaos
Don't worry, it's not your fault you haven't been exposed to the world's best satirical cartoon before now. You are welcome through
Of course, the actual production of such a chip, technology and its implementation is still years away at this point, but that doesn't mean that we won't be looking forward to it.
You can find all of the news stories below. BTW, I didn't really cover the "biggest crypto news" of the week concerning Bitcoin's 2009 stash movement, cause there really isn't all that much info there, only the movement of some of the oldest mined coins and the transaction addresses. The rest of it is just speculation and fairy dust.
Anyways, the links:
LTC and Atari
DAI and BAT
Cardano's microchip stuff
Well, thanks for the read, and have a great week, hope you enjoyed it.