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Daily Crypto News Dec 12, 2021: Top 3 crypto updates for today

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After undertaking many bold decisions in the year 2021, Polygon is ready to invest 250 million MATIC worth $627.5 million into the zero-knowledge cryptography venture of the startup. This will open several doors for the network in the near future. 

Cardano is all set to take big and bold strides with its new AGIX ERC20 converter. Wondering what the converter does? Read more on this detail below. 

The web 3.0 ecosystem is slowly but steadily acquiring a lot of enthusiasts. the third core member to become a part of this ecosystem is Semiotic AI after raising a funding of $60 million. Read more on this detail below. 

Quick Crypto News Roundup! 

Daily Crypto News  Dec 12, 2021

Polygon preparing to Invest 250M MATIC for the Zero-Knowledge tech 

The Ethereum scaling solution Polygon has revealed that it will invest around 250 million MATIC tokens currently worth $627.5 million into the zero-knowledge cryptography startup venture. 

Wondering what zero-knowledge algorithms are? These algorithms let the external validators verify transactions that are encrypted without revealing the confidential or sensitive information that is hidden below. It is quite useful for DeFi and complex applications such as decentralized health insurance or decentralized rideshare applications where nodes are required to verify the personalized data of the blockchain participants. There is no risk of privacy leakage. 

Read more about MATIC investments into zero-knowledge and what it means for the polygon. 

Source: Cointelegraph 

Cardano is ready for Giant strides with the launch of the AGIX ERC20 converter 

Cardano has taken giant strides in the race of interoperability by letting the transfer of tokens between Ethereym and itself. The network is in talks of collaborating and building multiple bridges and it has finally laid the first steps towards the same. No technical knowledge is required to use the AGIX ERC20 converter due to the amazing inbuilt features that are super easy to use. The Cardano community is opening its doors to the remaining blockchain community by unveiling this amazing converter. 

This is going to lead to numerous use-cases on Cardano as users are intently waiting for the mainnet launch. What does it mean for the Cardano prices? Read more on the AGIX ERC20 converter in detail. 

Source: ZyCrypto

Semiotic AI was granted 60M by the Graph foundation 

Semiotic becomes the third core protocol developer to be a part of the Web 3.0 network in 2021. It is all ready to enhance the platform scalability, security as well as economic efficiency via various technologies. 

The Graph Foundation announced that it is ready to grant $60 million to Semiotic AI. This was done in order to help the start-up software firm’s R&D in the sectors of artificial intelligence as well as cryptography. The prime focus of the partnership is to build an architecture that is required for verifiable and automated querying as well as indexing of Graph. Other things that the startup shall focus on are developing micropayments functionalities that use zero-knowledge proof such as ZK SNARKS. 

Read more about the Semiotic AI funding and different things it’s going to explore in the future in detail. 

Source: Cointelegraph 

Crypto Market Trend December 12, 2021 

Here is a quick summary of the top crypto gainers and losers for the day. 

Top 3 Crypto Gainers 

Cryptocurrency  Price (latest by December 12, 2021)  Change in % 
Quant (QNT) ₹17391.29 26.19%
Near protocol (NEAR) ₹897.77 12.19%
Gala (GALA) ₹49.67 25.52%

*Prices are latest by 10:40 AM December 12, 2021. *

Top 3 Crypto Losers 

Cryptocurrency  Price (Latest by December 12,  2021)  Change in % 
Terra (LUNA) ₹4713.82 7%
IoTex (IOTX) ₹9.74 5.91%
dYdX(DYDX) ₹720.48 2.81%

*Prices are latest by 10:40 AM December 12, 2021. *

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