Binance listed RAD and RARE on its platform – Market wrap
Binance listed Radicle’s native token RAD on its platform. The exchange already opened trading for RAD/BNB, RAD/BTC, RAD/USDT, and RAD/BUSD trading pairs. Radicle is a decentralized code collaboration network. The team has built it on open protocols.
Radicle allows developers to collaborate on code without relying on any intermediaries. The team created this project to provide similar functionality to centralized code collaboration platforms. At the same time, it tried to retain Git’s peer-to-peer nature, building on what made distributed version control so powerful in the first place. Furthermore, the company leverages Ethereum for various decentralized organizations, especially unique global names and protocols that help maintainers sustain their open-source work.
Radicle is still a relatively new network, but it already has a good reputation. The fact that Binance decided to list it only attests to that. Radicle Link, a peer-to-peer replication protocol built on Git, powers to the network. This protocol extends Git with peer-to-peer discovery by simply disseminating data via a process called gossip. That’s not as complicated as it may seem. Actually, the process is pretty straightforward: network participants share data they are interested in, spreading their local data with selected peers. They also keep redundant copies locally.
Radicle Link managed to keep Git’s efficiency by leveraging Git’s smart transfer protocol. At the same time, it offers global decentralized repository storage through the peer-to-peer networking layer.
The users store all data on the network locally. As a result, developers can easily share and collaborate on Git repositories. They don’t have to rely on intermediaries such as hosted servers.
What is the difference between Radicle and GitHub?
According to the founder team, collaborating on Radicle is different from collaborating on centralized code collaboration platforms such as GitLab and GitHub.
First of all, the Radicle stack is wholly open source. There are no closed components. The Radicle stack’s every component is auditable, extendable, and modifiable. Furthermore, it is built entirely on open protocols, without any “special servers.” Instead of using a client-server model, Radicle is based on a peer-to-peer architecture. It is not global by default. Instead, the social graph of customers and projects user tracks determines what content they see, interact with, and replicate.
The team designed Radicle for bazaar-style development. There isn’t a single master branch within projects that contributors merge into. On the contrary, users maintain their own views of projects, and other users can fetch and merge their peers’ ideas via patches.
The platform also replaces the Org functionality of centralized forges, along with their hierarchical admin models with various decentralized organizations on Ethereum. Radicle is not a corporation. It’s a self-sustained and community-owned network. The founders created the RAD token that lives on Ethereum for the network’s governance.
It’s easiest to use Radicle with Upstream. The latter is a desktop client developed by the Radicle project’s founding team. With Upstream, users can create an identity, host their code, and collaborate with others on the Radicle network.
What about SuperRare and its token?
Binance is listing SuperRare today. The exchange announced opening trading for RARE/BNB, RARE/BTC, RARE/USDT, and RARE/BUSD pairs on October 11, 2021.
SuperRare is a pioneer in the NFT space. It has quickly grown into the premier NFT art platform. Today SuperRare boasts a vast amount of both NFTs and users. Despite influencing thousands of early artists, collectors, and community members, the company’s success thus far is minuscule compared to how large the internet art market will become over the next decade.
The team aims to scale up and take advantage of the true power of web3. As a result, it decided to embark on a path of progressive decentralization. The founders are slowly shifting ownership and governance of the network to their community. However, scaling up requires rethinking their approach to three fundamental areas of the platform. Mainly, the team will work to improve the tools available to artists, collectors, and curators, make the platform wholly decentralize, and make sure the users are satisfied with their products. The team calls renewed platform SuperRare 2.0.
How will this new version be different from the current one?
According to SuperRare, the value from fees and commissions on the platform typically has gone to the core team. The latter used it to fund ongoing operations and continued growth. But all fees will go directly to a new community treasury in SuperRare 2.0, with the SuperRare DAO controlling it.
SuperRare 2.0 also plans to introduce the concept of independently-run gallery storefronts, known as Spaces. Spaces will foster a diverse ecosystem of curatorial voices, as well as help artists receive as much promotion and sales support as they feel is needed. The team will also support a multi-contract architecture as it believes that artists should be in charge of their own destinies. Curation will soon begin progressively transitioning to collectors, artists, and curators (whole community) via a new SuperRare curation token, $RARE. This will be the beginning of the SuperRare DAO.
The company has created a new whitepaper to outline all the changes it intends to make in the coming months. It also stated that SuperRare is proud to have been an early participant in the NFT ecosystem, pioneering a simple but powerful set of tools, along with a production model that many subsequent platforms will replicate.
The core team hand-picked and individually approved artists in Supercar 1.0, ensuring that they would produce the work worth of minting on a shared smart contract as SuperRare NFTs (SUPR tokens). After minting, the artists were in charge of self-promoting and selling their artworks directly to collectors.
Curated Platform Era
Such a model became the foundation of the so-called “curated platform era.” It was very useful, and it helped to bootstrap the early NFT art market. Nonetheless, the ecosystem has matured enough that it became apparent there were some shortcomings in need of improvement.
For instance, gatekeeping and curation by a single, centralized team aren’t conducive to building a healthy, web-scale art ecosystem. Art is inherently subjective. Thus, the platform needed a diverse array of curatorial voices. Furthermore, artists deserve as much support with sales and promotion as possible. However, as the community of artists in the space grows, a single team can do far less promotion. The broader NFT art ecosystem has turned into a fragmented experience where collectors and artists have artworks arbitrarily segmented across platforms. As a result, there’s no good way to manage one’s whole collection. SuperRare 2.0 gives the artists the opportunity to become broadly known worldwide.
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