The blockchain network is decentralized. This means that it can make payments and not be controlled by centralized authorities. Some argue that blockchains can facilitate fraud, but they use sophisticated mathematical technology called consensus mechanisms to stop this. Peers can use blockchains to transact with each other without worrying about fraud and censorship. Additionally, cryptocurrency allows individuals to support causes they believe in even though traditional methods may not be possible.
This aspect of cryptocurrency can be argued a lot. Over 99% are valid cryptocurrency transactions. It is true, however that many cryptocurrency transactions can be used to aid humanitarian causes. One of the largest cryptocurrency platforms for philanthropy is The Giving Block. It supports nearly one thousand charities around the globe and will facilitate more than USD 1 Billion worth donations by 2022. This number is comparable with the USD 100,000,000 in donations The Giving Block made last year.
Because cryptocurrency is universal (that is, not tied to specific countries), it makes accepting donations from any person in the world easy during difficult times. Traditional money transfer methods are extremely expensive because of their global nature. As an example drawn from current events, cryptocurrency is enabling Russian citizens who condemn Vladimir Putin’s invasion of Ukraine to send aid to Ukraine’s government and its people.
Since the first day of combat, the broader cryptocurrency community has stringently supported Ukraine’s independence. Within a month of Russia’s invasion, over USD 63 Billion in various cryptocurrencies had been donated to Ukraine’s official wallet addresses. Since then, donations have only increased; according to tradingplatforms.com, last month’s donations alone topped USD $100 Million. Ukraine uses the huge donations from the crypto community to strengthen its defenses, and to rebuild.
Many cryptocurrency projects are now supporting Ukraine thanks to their followers. Participating projects come from all walks of life. For example, projects within the Konstellation ecosystem dedicated efforts to raising charitable donations to Ukraine, one of which is Squid Squad OG, the world’s first Rock, Paper, Scissors blockchain-based play-to-earn game. Konstellation Network (a blockchain protocol) matched the donation once the fundraiser was over. The Konstellation Network gave over $14,000 to Ukraine through fundraisers that were held using its products.
SSOG NFTs may still be purchased even though the funding round is over. In addition to representing the good that cryptocurrency can do, they act as whitelist passes for the second mint of Squid Squad OG’s popular play-to-earn game, SSOG – a unique title inspired by the hit Netflix special Squid Games.
SSOG allows contestants to compete for a large prize pool by playing high-stakes, high-reward Rock Paper Scissors games. The winners are closer and closer towards the jackpot while losing contestants are eliminated. The final victor wins it all, but only if contestants don’t vote to stop the games early and split the prize pool between themselves.
The Konstellation
Konstellation, a cross-chain decentralized capital market protocol built on top of the Cosmos network is called. It is designed to quickly connect fund managers and other asset-management industries with investors. Konstellation’s mission is to become the financial services industry hub for Cosmos and other blockchain ecosystems using strategic inter-operable blockchain communications.
The Konstellation network is powered by DARC tokens, which are required for the Konstellation network’s governance and transactions. Konstellation’s vision is being realized thanks to features like cross-chain infrastructure and a simple interface.