EGLD

MultiversX

EGLD is in weekly horizontal consolidation while maintaining the downtrend, with $5.37 resistance critical. There are short-term bullish signals, but BTC downtrend poses risk for alts.

EGLD volume is low at 6.53M$; decreasing volume in the downtrend gives an accumulation signal. Market participation is weak, volume increase at supports is key for reversal.

BitcoinWorld MultiversX Pioneers Revolutionary Google Checkout Protocol for AI-Powered Blockchain Transactions In a landmark move for Web3 infrastructure, the blockchain platform MultiversX has officially integrated Google’s Universal Checkout Protocol (UCP), establishing itself as the first blockchain network to adopt this emerging standard for artificial intelligence systems. This integration, confirmed in a report by The Block on October 26, 2024, fundamentally redefines how AI agents can interact with digital assets, enabling them to autonomously check wallet balances, transfer tokens, and execute complex blockchain transactions. Consequently, this development marks a significant step toward a more interconnected and automated digital economy. MultiversX Integrates Google’s Universal Checkout Protocol The core of this announcement centers on the technical adoption of Google’s Universal Checkout Protocol by the MultiversX network. Essentially, UCP acts as a standardized framework, or a common language, that allows different software applications—particularly AI systems—to securely initiate and complete financial transactions across various platforms. Previously, AI interactions with blockchains were fragmented and required custom-built integrations for each network. However, by implementing UCP, MultiversX provides a unified gateway. This protocol enables AI agents to perform several key functions directly on the MultiversX blockchain. For instance, these functions include querying real-time wallet balances, initiating token transfers between addresses, and executing smart contract calls. Therefore, developers building AI applications now have a streamlined, secure method to embed financial capabilities without deep, blockchain-specific coding. The Technical Mechanics Behind the Integration Understanding how this integration works requires a look at the underlying technology. The Universal Checkout Protocol operates through a set of application programming interfaces (APIs) and security standards. MultiversX has implemented these APIs at the node level of its blockchain. When an AI system needs to perform an action, it sends a request formatted according to UCP specifications. Subsequently, the MultiversX network validates this request through its secure validators. Importantly, the protocol manages authentication and authorization, ensuring only permitted AI agents can trigger transactions. This process maintains the decentralized and trustless nature of the blockchain while adding a layer of interoperability for external AI systems. The table below outlines the primary transaction types enabled by this integration: Transaction Type UCP Function Use Case Example Balance Inquiry Query wallet assets An AI assistant checks if a user has sufficient EGLD for a purchase. Token Transfer Send fungible tokens An automated bot pays for a service in XMEX tokens. Contract Execution Call smart contract functions An AI stakes assets in a decentralized finance (DeFi) pool autonomously. Expert Analysis on the Strategic Impact Industry analysts view this move as strategically significant for both MultiversX and the broader blockchain ecosystem. Beniamin Mincu, CEO of MultiversX, has frequently emphasized the network’s focus on scalable infrastructure for real-world use cases, including artificial intelligence. This integration directly supports that vision. Furthermore, blockchain experts note that by being the first mover, MultiversX positions its ecosystem as the most accessible platform for AI developers seeking to incorporate on-chain transactions. This could attract a new wave of development and liquidity. The decision also aligns with Google’s broader strategy of creating open web standards, suggesting a growing convergence between major tech infrastructure providers and decentralized networks. Real-World Applications and Immediate Effects The practical implications of this integration are profound and extend across multiple sectors. Immediately, it unlocks new possibilities for automated financial agents and AI-powered decentralized applications (dApps). For example, consider a decentralized AI assistant that can manage a user’s cryptocurrency portfolio. It could now rebalance assets across MultiversX-based DeFi protocols without manual intervention. Similarly, in the gaming and metaverse spaces, non-player characters (NPCs) or autonomous game economies could conduct real micro-transactions using in-game tokens. Moreover, for enterprise solutions, supply chain AI could automatically release payment upon verifying a delivery recorded on the blockchain. This bridges the gap between autonomous software logic and on-chain value transfer, a critical hurdle for mainstream adoption. Automated DeFi Management: AI systems can manage yield farming, lending, and borrowing strategies 24/7. Smart Commerce: E-commerce chatbots can complete checkout by directly pulling funds from a user’s connected wallet. AI Development: Lowers the barrier for AI developers to create financially capable applications. Background and Evolution of Blockchain and AI Convergence This news is not an isolated event but part of a larger trend of convergence between blockchain technology and artificial intelligence. For years, developers have explored ways to make blockchains more accessible to automated systems. Initially, this involved simple read-only data oracles. Later, more complex systems attempted to grant AI limited transaction capabilities, but often through insecure or proprietary methods. Google’s development of the Universal Checkout Protocol represents an effort to create a secure, standardized alternative. MultiversX, with its history of focusing on high throughput and low transaction costs, presents an ideal technical foundation for such an experiment. The network’s architecture can handle the high volume of small, frequent transactions that AI-driven micro-economies might generate. Conclusion The integration of Google’s Universal Checkout Protocol by MultiversX is a pioneering development in the blockchain industry. It successfully bridges the capabilities of advanced artificial intelligence with the secure, transparent execution environment of a decentralized network. This move not only provides immediate utility for developers but also charts a course for a future where autonomous software can seamlessly participate in the digital economy. As the first blockchain to adopt this protocol, MultiversX solidifies its position as an innovator focused on scalable, real-world infrastructure. Ultimately, the success of this integration will be measured by the new generation of AI-powered applications it enables on the MultiversX blockchain. FAQs Q1: What is Google’s Universal Checkout Protocol (UCP)? Google’s Universal Checkout Protocol is a standardized framework that allows software applications, especially AI systems, to securely initiate payments and financial transactions across different platforms and services using a common set of rules. Q2: Why is MultiversX’s adoption of UCP significant? It is significant because MultiversX is the first blockchain network to integrate UCP. This positions it as the most accessible platform for AI developers who want their applications to perform on-chain transactions like checking balances and transferring tokens without building custom integrations. Q3: How does this integration benefit AI developers? The integration benefits AI developers by providing a ready-made, secure, and standardized way for their AI agents to interact with the MultiversX blockchain. This saves development time and resources, allowing them to focus on building their application’s core features instead of complex blockchain connectivity. Q4: Can UCP be used for transactions on other blockchains? Currently, the reported integration is specific to the MultiversX blockchain. However, the Universal Checkout Protocol is designed as an open standard. In the future, other blockchain networks could potentially adopt UCP to offer similar functionality, creating a more unified ecosystem for AI-to-blockchain interaction. Q5: Does this compromise the security or decentralization of the MultiversX blockchain? No, the integration does not compromise core blockchain principles. The UCP acts as an interface layer. All transactions proposed by AI via UCP still must be validated and confirmed by the decentralized network of MultiversX validators, maintaining the network’s security and trustless nature. This post MultiversX Pioneers Revolutionary Google Checkout Protocol for AI-Powered Blockchain Transactions first appeared on BitcoinWorld .

EGLD is testing the $5.21 support with bearish momentum at $5.29; BTC downtrend is pressuring altcoins. For the next 24-48 hours, $5.42 resistance is key, breakout scenarios are clear.

MultiversX proposes removing the EGLD supply cap while introducing tail inflation and revised fee incentives. The move breaks long-standing scarcity promises, sparking debate over trust and dilution risks. Foundation argues new tokenomics could drive growth, liquidity, and long-t...

BitcoinWorld Bybit Delist Shakeup: Exchange to Remove SERAPH, XO, PSTAKE, and MASA Spot Pairs in Strategic Move In a significant platform update, leading cryptocurrency exchange Bybit has announced the impending delisting of four spot trading pairs, a move that will directly impa...

BitcoinWorld Crucial Alert: Bithumb Temporarily Halts EGLD Deposits and Withdrawals for Network Upgrade Attention all MultiversX (EGLD) traders on Bithumb! The South Korean exchange has issued an important service announcement that directly impacts your ability to move funds. Starting at 1:00 p.m. UTC on December 2, Bithumb will temporarily suspend all EGLD deposits and withdrawals . This planned pause is not a cause for alarm but a necessary step for a network upgrade. Let’s break down what this means for you and how to navigate this brief interruption smoothly. Why Is Bithumb Suspending EGLD Deposits and Withdrawals? The primary reason for this temporary halt is a scheduled network upgrade on the MultiversX blockchain. Exchanges like Bithumb must pause external transaction services during such upgrades to ensure security and prevent any loss of funds. Think of it like temporarily closing a bridge for essential maintenance; it’s a standard safety procedure in the crypto world. Therefore, this proactive measure protects user assets during the technical transition. What Does This Mean for Your EGLD Holdings? It’s vital to understand the scope of this suspension. The temporary halt applies specifically to moving EGLD tokens on and off the Bithumb exchange. However, your other activities on the platform remain unaffected. Here is a quick breakdown of what you can and cannot do: Paused: Depositing new EGLD tokens from an external wallet to your Bithumb account. Paused: Withdrawing EGLD from your Bithumb account to an external wallet. Unaffected: Trading EGLD against other cryptocurrencies like Bitcoin or Korean Won on Bithumb’s spot market. Unaffected: The safety of the EGLD tokens already held in your Bithumb wallet. In essence, your existing EGLD balance is safe, and you can still trade it. The only restriction is on moving tokens across the exchange’s boundary. How Can You Prepare for the Temporary Halt? A little preparation can help you avoid any inconvenience. Since the suspension of EGLD deposits and withdrawals begins at a specific time, you have a clear deadline. If you need to move EGLD for any urgent reason, such as participating in an external staking pool or transferring to a private wallet, you must complete that transaction before 1:00 p.m. UTC on December 2. Planning ahead is the best strategy. What Happens After the MultiversX Network Upgrade? Once the MultiversX network upgrade is successfully completed and tested, Bithumb will resume its services. The exchange will make a follow-up announcement to confirm the resumption of EGLD deposits and withdrawals . Typically, such suspensions last only for the duration of the upgrade and a short verification period. It’s a good practice to monitor Bithumb’s official announcements for the exact reactivation time. In summary, Bithumb’s decision to temporarily suspend EGLD deposits and withdrawals is a routine and user-protective action. It ensures the integrity of your assets during a core blockchain improvement. By understanding the limits of the suspension and planning your transactions accordingly, you can navigate this period without stress. This upgrade ultimately aims to enhance the MultiversX network, potentially benefiting all EGLD holders in the long run with improved performance and features. Frequently Asked Questions (FAQs) Q1: Is my EGLD safe on Bithumb during this suspension? A1: Yes, absolutely. The suspension only affects moving tokens in or out of the exchange. The EGLD held in your Bithumb wallet remains secure and unaffected. Q2: Can I still buy or sell EGLD on Bithumb? A2: Yes. The trading markets for EGLD will remain fully operational. You can continue to buy, sell, and trade EGLD against other supported currencies on the platform. Q3: How long will the EGLD deposit and withdrawal services be suspended? A3: The suspension begins at 1:00 p.m. UTC on Dec. 2. The duration depends on the MultiversX network upgrade. Services will resume once the upgrade is stable, as announced by Bithumb. These halts typically last a few hours. Q4: Will other cryptocurrencies on Bithumb be affected? A4: No. This announcement is specific to MultiversX (EGLD). Deposit and withdrawal services for other cryptocurrencies continue as normal unless stated otherwise in a separate notice. Q5: What should I do if I have a scheduled transaction around this time? A5: If you planned to deposit or withdraw EGLD, ensure you complete it before the deadline. If you miss it, you must wait until Bithumb officially resumes the service. Q6: Where can I get official updates on this situation? A6: Always refer to Bithumb’s official website or verified social media channels for the most accurate and timely updates regarding service status. Found this guide on the EGLD deposits and withdrawals suspension helpful? Share it with fellow MultiversX enthusiasts on your social media to keep everyone informed! Spreading accurate information helps the entire community navigate these routine updates with confidence. To learn more about the latest cryptocurrency exchange trends, explore our article on key developments shaping digital asset security and user protection protocols. This post Crucial Alert: Bithumb Temporarily Halts EGLD Deposits and Withdrawals for Network Upgrade first appeared on BitcoinWorld .

The updates, set to roll out this week, are designed to enhance network performance, streamline transactions, and improve node synchronization […] The post Binance Announces Support for MANTRA (OM) and MultiversX (EGLD) Network Upgrades appeared first on Coindoo.

EGLD retested $13-$13.40 support, now breaking a descending trendline signaling bullish momentum. Measured target of $19 reflects a 37% gain from breakout, with a retest near $13.80-$14 offering a buy zone. Market shows balanced longs and shorts; lower volume and liquidations poi...