Learn how you can complete the tasks required for the Catizen game with this tutorial.

 task and you will be redirected to the game in Telegram. 

. Once you have done this, you will have completed this task!

Beginner

MAY24_R17_Catizen_Telegram_GameFi_On-Chain_Task_Tutorial.png

Catizen Telegram GameFi On-Chain Task Tutorial

LightLink is a Layer 2 blockchain network with functionality for individuals, decentralized applications and enterprises. Learn more here.

 has evolved and its digital innovations grown more prevalent across various aspects of business and society, various challenges have arisen. Although blockchain tech offers decentralization, transparency and 

 security, issues such as difficult user experiences, expensive transaction fees and problematic scalability persist. Now, LightLink

 is addressing these issues through its innovative architecture and features.

 blockchain network with functionality for individuals, 

 (DApps) and enterprises. It addresses common blockchain technology issues and provides gas-free transactions.

’s advanced data availability solutions in its architecture and features. It provides a streamlined, superior user experience, lower transaction fees and enhanced scalability as compared to on-chain Ethereum transactions. At the same time, it utilizes 

 (DeFi) and security attributes from Ethereum 

. While LightLink uses existing Ethereum tools, it provides a viable alternative to the 

 (EVM). By empowering users and developers to have a better experience, it moves blockchain tech into the future.

LightLink launched in 2017 to leverage existing Ethereum tools while processing transactions off-chain. Its co-founder and CEO, Roy Hui, partnered with Pellar Technology for development. Lightlink enables instant and gasless transactions with security and speed, and has rapidly been adopted by enterprise and personal users and for DApps. In fact, there are now more than 215,000 LightLink wallets, and it ranks in the top 10 

The LL native token was launched in April 2024. LightLink is backed by Animoca Brands, MQDC, T&B Media Global, B3V and others. Its core advisors are Ryan Horn, Mehdi Farooq and Nathan Lenga.

LightLink aims to address issues that have plagued early blockchain tech adopters, including expensive gas fees and the uncertainty of transaction fees until the completion of a transaction. It also strives to improve the speed of transaction throughput, as compared to other blockchain networks, and aims to create an interconnected DeFi economy by bridging DApps.

LightLink, an alternative to the EVM, processes transactions off-chain and then compresses multiple transactions using a sequencer mode. Its transaction throughput is greater than that of Ethereum because it utilizes rollup tech to provide gasless transactions and faster processing speeds. Enterprise users and individual users benefit from LightLink’s compatibility with Celestia’s solutions, which enables instant processing of multiple transactions without gas fees.

LightLink offers an alternative to on-chain Ethereum transactions. Its many features combine to deliver a superior experience, enabling users to benefit from full access to DeFi benefits with a focus on speed, security and affordability.

Enterprise Mode is among LightLink’s key features. It supports gas-free transactions via a 

 wallet via a direct process, allowing developers to establish a contract address whitelist by paying a monthly subscription fee. 

The developer’s subscription fee subsidizes users’ fees for DApps. As a result, LightLink's 

 empowers users to use the whitelisted apps without being charged gas fees. Additional benefits of LightLink's Enterprise Mode are a fixed fee, multiple transactions processed without fees and access to LightLink’s enterprise partners.

LightLink’s bridge enables users to convert their crypto assets easily and efficiently. Users specify the token type and amount they want to bridge. The bridge functions with both Ethereum and BNB Smart Chain. After the user connects their wallet and finalizes their transaction, the order is executed, and the user can see the estimated time to transfer before order execution.

 from which to choose. Zonic NFT Explorer allows users to view their utility tokens in an NFT format. LiteFlow NFT Explorer supports marketplace trading for all NFTs. The Blockscout Explorer provides users and developers with detailed stats on smart contracts, gas fees, blocks, 

Bolt is a LightLink plugin that supports the development of decentralized gaming apps. It uses Enterprise Mode to support high volume and gasless transactions. In addition, the plugin uses smart contacts to support token minting that connects with the game’s results.

 fosters continued advancements in blockchain technology through grants, collaborations and partnerships. It identifies projects that advance DApps and other aspects of blockchain technology.

LightLink reached several milestones from the time of its launch in 2017 through 2022: the development of its digital wallet and supporting technology, the completion of token contract and blockchain audits, and the establishment of partnerships in the APAC region and with investment banks. During the first half of 2023, both the Testnet and private Testnet went live, and the Translucia metaverse and the Testnet bridge launched. 

In addition, the network completed the migrations of Tridentity and 

. Later in 2023, the platform made headway on its 

 and the integration of Celestia and Pyth. Through the end of 2024, attention will be focused on DA exploration, sequencer decentralization and 

LL, the LightLink native token, was launched on Apr 24, 2024, it plays a role in governance and yields rewards for holders and stakers. Total token supply is 1 billion, with allocation as follows: 

As of May 8, 2024, the LL token’s price is $0.08511, which reflects a decrease of 8.2% over the past 24 hours. Market cap is $6.9 million, and 24-hour trading volume is $7.8 million.

 $0.1083 by the end of 2024 and surge to $0.999 by 2030. This positive sentiment is 

 from DigitalCoinPrice, which believes that LL’s price will reach $0.19 by the end of 2024 and increase to $0.65 by 2030. 

Looking to trade LightLink tokens? Bybit now offers the LL/USDT Spot trading pair. To get started, you’ll need to first create a Bybit account, fund it with cryptocurrency and navigate to the 

All crypto investments have associated risk due to the volatile crypto market. LL is expected to increase in the future, and may therefore be considered as a 

. The platform provides seamless integration with existing Ethereum tools, along with off-chain transaction processing for a better user experience. With this in mind, the project may continue to grow in usage. Always 

 before making any cryptocurrency investment.

LightLink offers seamless integration with Ethereum and other networks to offer optimized utility for users. With functions such as its Enterprise Mode, scalable architecture and the ability to leverage existing Ethereum tools, LightLink empowers users to complete multiple transactions quickly and without gas fees. Add in its DEX applications and overall functionality, and LightLink empowers users with a better blockchain experience.

Intermediate

lightlink.png

LightLink (LL): Empowering Blockchains With Gas-Free Solutions

Injective is collaborating with Arbitrum to enhance its inEVM network by leveraging Arbitrum's Orbit stack to improve its bespoke EVM infrastructure.

The SPX index is down 0.03%, influenced by losses in major tech companies. Market focus stayed on corporate earnings and the Federal Reserve's policy direction, amid varied statements from Fed officials. The broader cryptocurrency market is down, with Bitcoin and Ether dropping by 1.39% and 3.17%, respectively in the past 24 hours.

Today’s outperformer is RUNE, which jumped 8.0% after THORChain rolls out THORNode v132 with Enhancements for Loan Execution and Lower Gas Fees.

THORChain (RUNE), founded in 2018, is a decentralized protocol allowing asset swaps across different blockchains, enhancing the DeFi space with its cross-chain liquidity feature. Unlike traditional AMMs limited to single blockchains, THORChain facilitates trades between incompatible networks using the Cosmos SDK. THORChain announced the release of 

, which includes significant improvements to the mainnet. Key updates include: the TOR depth fix restoring functionality to 95%, ensuring optimal loan openings and closings; a reduction in dynamic outbound fee multipliers resulting in much lower gas quotes, particularly a 6.14x decrease for BTC and a 2x decrease for ETH swaps; ejection of remaining BNB balances in preparation for the final stage of the Ragnarok process; and successful processing of remaining AVAX/BSC observations with a recent incident mitigated. Further quality of life enhancements are expected in the upcoming version.

Check Out the Latest Prices, Charts, and Data of 

 to enhance its inEVM network by leveraging Arbitrum's Orbit stack to improve its bespoke EVM infrastructure. This partnership allows inEVM to provide seamless, efficient, and cost-effective transactions, along with access to a broader set of development tools that were previously exclusive to Ethereum L2 solutions. inEVM is now able to use INJ as its native gas token, a novel approach for L2 rollups, and offers familiar development tools like Hardhat and Foundry, all while maintaining fast speeds and low fees. The integration also supports cross-chain compatibility with Ethereum, Injective, and other major blockchains like Cosmos and Solana, enhancing asset and liquidity transfers across these networks. Additionally, inEVM transactions are included in Injective's Burn Auction, which burns a portion of all protocol fees weekly, adding value to the Injective ecosystem. This collaboration marks a significant step toward a more interconnected and democratized blockchain landscape.

Bitcoin (BTC) dropped 1.31% amid negative influences from hawkish Federal Reserve comments and SEC activities, continuing a downward market trend. Ethereum also fell, further impacted by Grayscale withdrawing an Ethereum Futures ETF application. The broader crypto ETF market mostly recorded net outflows, highlighting investor sensitivity to Fed policies and SEC actions.

The new airdrop strategy focuses on optimizing benefits from participating in multiple cryptocurrency projects simultaneously. By depositing ETH at Etherfi and adding liquidity to the weETH-ETH pair on Nile Exchange, participants can earn various rewards including Etherfi Loyalty Points, Linea Surge LXP-L, EigenLayer Points, and potential Nile Airdrop Rewards. The step-by-step guide involves staking ETH on Etherfi to receive weETH tokens, and then using these tokens alongside ETH to add liquidity on Nile Exchange. Additionally, participants are encouraged to activate their Linea Surge Account to qualify for an upcoming snapshot and maximize their benefits, with options suggested for both limited and ample funding scenarios to ensure eligibility for various benefits. 

Daily_Bits_Title_Subtitle_&_Eyebrow_1600x900_(70).png

Injective Partners with Arbitrum to Enhance inEVM, Boosting Cross-Chain Interoperability and Efficiency

Catwifhat (CWIF) shares the spotlight with Dogwifhat (WIF) on Solana, boasting a unique deflationary feature and a growing holder base in the cat-themed meme coin frenzy.

Cat-themed meme coins have recently been all the rage on 

 (MEW) and Popcat (POPCAT) clearly shows that the crypto community is highly receptive to meme coins whose story revolves around cute felines. 

In December 2023, another meme coin project riding the current "catomania" wave emerged on Solana. Catwifhat (CWIF), however, is unlike the majority of other cat-themed meme coins: it has a unique deflationary property that might pique the interest of the most conservative among crypto investors, in addition to the hordes of meme coin enthusiasts. Four percent of each transaction involving the CWIF token is burned, gradually reducing its total supply while increasing its scarcity, and, hopefully, its value as well.

 (CWIF) is a Solana-based cat-themed meme coin. 

It's one of the several projects contributing to the current wave of popularity surrounding cat-themed cryptos on Solana and other blockchains. Featuring a unique deflationary property, Catwifhat 

 4% of each transaction, significantly reducing its overall supply and marking it as among the most aggressive deflationary characteristics in the industry.

The CWIF token was launched in December 2023, with an initial supply of 77.78 trillion. Less than five months on, the token's aggressive supply-reducing mechanism has driven its total supply to about 36.5 trillion (as of May 7, 2024), with more than half (53%) of the initial supply burned. Currently, nearly half a trillion CWIF tokens are being burned every month.

In addition to the main CWIF cryptocurrency, the Catwifhat developer team has also released the Pixel Catwifhat 

 collection, whose pixelated cats comprise 1,000 items and feature 13 different cat hats as one of its key features. Enjoying significant popularity among NFT enthusiasts, the collection has some of its most valuable items, featuring asking prices of up to $100,000. Currently, Cat #189 is the Pixel Catwifhat NFT with the highest asking price, at 1,035 SOL ($150,417) on the popular Solana marketplace 

The Catwifhat project was undoubtedly inspired by an earlier meme coin, Dogwifhat (

), which was launched in November 2023. Themed around a Shiba Inu dog wearing a hat, Dogwifhat quickly became a meme coin sensation. By early 2024, the WIF token rose to the third position in market cap rankings among meme coins, behind the well-recognized leading duo — Dogecoin (

). As of May 7, 2024, WIF has amassed a market cap of $3.4 billion.

Compared to WIF, CWIF's market cap of $18.66 million looks exceedingly modest. However, it’s seen an impressive growth spurt within just one day.

Additionally, CWIF's exhaustive supply (measured in tens of trillions), active airdrop campaigns and extensive reach among meme coin enthusiasts ensure that the token is ahead of WIF by a mile when it comes to the sheer number of holders. According to some estimates, the unique number of WIF users was around 69,000 in mid-April 2024. On the other hand, the CWIF project claims to have a holder base of over 1.2 million.

The popularity of the cat with a hat meme has led to the launch of several (to be precise, four at the moment) tokens all sharing the same name, catwifhat, but using different capitalization styles and tickers — CatWifHat (CATWIF), CatwifHat (CIF), and catwifhat (CATHAT).

At least two of these, CATWIF and CATHAT, are recent entrants to the market and are likely attempts to piggyback off CWIF's popularity. The CIF token, despite being launched around the same time as CWIF, is also hardly a competitor to the latter; it has been embroiled in at least 

 events, and is far less popular than CWIF among meme coin enthusiasts.

A cursory look at the four tokens' typical trading volumes also speaks volumes, no pun intended, about their relative popularity. As measured on May 7, 2024, the 24-hour trading volume for CWIF stood at around $4.79 million, while CATWIF, CIF and CATHAT registered volumes of under half a million, around $15,000 and under $150, respectively.

The CWIF token is still not widely available on major 

 (JUP) and FluxBeam (FLUXB) — offer CWIF swap pairs. Currently, you can buy CWIF with Solana's native SOL token on FluxBeam, while Jupiter offers two cryptos for buying CWIF — SOL and 

The popularity of cat-themed meme coins is skyrocketing, and the CWIF token is at the forefront of this surge. While the token still features a relatively modest market cap, at least in comparison to the likes of Dogwifhat, Dogecoin and Shiba Inu, it has already amassed a highly impressive 1.2 million user base. Many of these have been attracted by the image of a cute cat sporting an adorable hat. Also, it wouldn't be a stretch to say that the token's unique 

 mechanism has lured a good chunk of this user base.

As CWIF transactions heat up, that 4% burn rate ensures that the token's supply decreases quickly, and with the decrease in supply comes the value of scarcity. Those who hold onto CWIF for a longer while might find themselves in possession of a truly scarce and valuable asset in the future — that is, of course, if the crypto community's obsession with cats stays strong.

catwifhat_crypto.png

Catwifhat (CWIF): Sharing the Throne With Dogwifhat (WIF) on Solana

Bybit Learn

Web3 Experts

Inscriptions consist of arbitrary content that’s stored on individual satoshis, the smallest unit of the Bitcoin currency, using the Bitcoin network.

20240126-123215.jpeg

Skinny_Banner-1600x400.webp

 first emerged, it introduced a revolutionary and trustless system for transferring value. Being able to send financial transactions securely and peer-to-peer was innovative and exciting, although the prospect of also supporting other activities had always been discussed.

Ordinals and inscriptions now offer a method to store information other than financial transactions. Additional information stored on the 

 can now become a one-of-a-kind digital artifact, otherwise known as a Bitcoin non-fungible token (

This article explores the history, principles and potential of Bitcoin NFTs. Could it be the next big thing — or is it just another fleeting trend in the fast-paced world of blockchain innovations? 

 on Bybit Learn, we aim to demystify these complex topics and provide insightful perspectives from industry leaders. Join us in this third installment as we invite Relationship Manager Daniel Basharimov from the Bybit VIP Team to join us for a dive into the world of Ordinals and inscriptions.

Ordinals are a unique system of ordering satoshis, the smallest units of Bitcoin, that allows the creation of 

. Users can inscribe data like text or images as digital artifacts onto individual satoshis.

 upgrade enabled more efficient and flexible data storage on the Bitcoin blockchain. 

 were officially launched onto the Bitcoin mainnet on Jan 20, 2023. They can be used for creating digital art, verifying identity, proving ownership and more. Unlike traditional NFTs on separate layers or platforms, Ordinals are directly embedded into the base of Bitcoin’s network, which makes them decentralized, rare and more secure.

Ordinals have different levels of rarity: Common, Uncommon, Rare, Epic, Legendary and Mythic. The rarity signals the uniqueness and scarcity of inscribed satoshis, and can be determined based on factors such as block height, inscription time and overall demand. 

Ordinals serve as unique identifiers for 

, the smallest units of Bitcoin, and are assigned based on the chronological order in which individual satoshis are 

 on Bitcoin’s blockchain. Essentially, the first satoshi ever mined is labeled as Ordinal 1, the second one as Ordinal 2 and so forth.

However, Ordinals go beyond mere numerical identification: they can incorporate additional information through a process called inscribing, which means that users can attach various data types, such as images or text, to specific satoshis. This functionality enables the creation of diverse digital assets, ranging from NFTs to 

The creation of Ordinals involves special Bitcoin transactions following the Ordinals protocol. These transactions include the Ordinal number, inscribing data and the Taproot address of the owner. Taproot facilitates more complex and flexible transactions. Miners validate these Ordinal transactions, ensuring their inclusion in Bitcoin blocks, similar to regular transactions.

Ordinals, along with their associated data, are stored on the Bitcoin blockchain as part of their transaction history. They’re accessible and verifiable by anyone using a Bitcoin 

 or an Ordinal explorer. Transferring an Ordinal from one owner to another involves an additional transaction to update the Taproot address. Ordinals therefore are imbued with the security, immutability and decentralization inherent in Bitcoin itself.

Inscriptions consist of arbitrary content that’s stored on individual satoshis, the smallest unit of the Bitcoin currency, using the Bitcoin network. 

This process creates Bitcoin-native digital artifacts (also known as NFTs) that can be stored, transferred and traded on the Bitcoin blockchain. Inscriptions use Ordinal theory, which assigns a unique Ordinal number to each satoshi based on its position in the transaction history, making it possible to identify and track each one.

 was created on Dec 14, 2022 by Casey Rodarmor. Named Inscription #0, this inscription is a pixel art representation of a black-and-white skull and is permanently recorded on the Bitcoin blockchain.

 on the Bitcoin blockchain refers to a method of storing data by interlinking existing inscriptions with new ones, thus establishing networks of interconnected data sources. This approach offers several advantages for developers: It enables the execution of software entirely on-chain, facilitates the storage of extensive files and allows the implementation of advanced contracts without the need for new cryptographic techniques.

Two other notable benefits are lower transaction costs, and the reduction of storage duplication. These are achieved by minimizing the amount of data inscribed on each satoshi and contributing to the overall efficiency of the blockchain. Recursive inscriptions have been employed by projects such as 

, known for creating impressive 3D art under 1 KB in size. Another prominent example is 

’s use of recursive inscriptions to immortalize his single-page HTML website on the Bitcoin blockchain.

While recursive inscriptions offer exciting possibilities for on-chain data storage and efficient transaction processing, their implementation comes with complexities and challenges that need to be managed carefully, especially regarding the balance between centralization and decentralization within Bitcoin’s ecosystem.

Inscriptions create digital artifacts such as images, text, audio and applications that can be stored and transferred. They become a way of imprinting information onto the Bitcoin blockchain, adding a layer of data to specific units of Bitcoin. Unlike with other blockchain platforms, Bitcoin inscriptions don't rely on sidechains or separate tokens, instead using the witness of Bitcoin transactions to embed arbitrary data. 

Inscribing can be a technical process that starts with installing 

, installing the “ord” client, and then committing and revealing a transaction. Thankfully, the development of inscription tools has made the process more accessible to users. These user-friendly applications simplify the creation and exchange of inscriptions on the Bitcoin network and empower users to generate and inscribe digital artifacts with ease, using low-code or no-code interfaces to support a more inclusive, user-friendly environment within the Bitcoin ecosystem.

Inscriptions have sparked a dialogue as to whether they could serve as a platform for expressing creativity, establishing identity and asserting ownership on the Bitcoin network.

However, opinions within the community are divided. Some enthusiasts view inscriptions as a promising avenue for expanding the functionality and cultural impact of Bitcoin. On the other hand, skeptics express concerns about the potential drawbacks, questioning the value and utility of inscriptions. The debate centers on issues such as block space efficiency and the potential impact on Bitcoin's fungibility.

Looking forward, the future of Bitcoin inscriptions remains uncertain. Nevertheless, they could open up possibilities for innovation and experimentation within the Bitcoin protocol. According to a report published Mar 3, 2023 by Galaxy Digital’s research unit, the market for Bitcoin NFTs built on inscriptions 

 by 2025, signaling a significant economic aspect to this emerging phenomenon. Despite its potential, however, this market's growth may face challenges that include technical and regulatory hurdles. 

When asked to share his perspective on Galaxy Digital's analysis, Bybit’s Daniel Basharimov notes that the report presents a range of projections for the Bitcoin NFT market, with a conservative estimate at $1.5 billion in a down market and an optimistic $10 billion, should Bitcoin NFTs rival those of Ethereum and other blockchains and introduce novel use cases. The report underscores the influence of major NFT players and evolving infrastructure on these forecasts. Notably, the NFT market has seen fluctuations in trading volumes and activity, with a peak in early 2023 followed by a downward trend. 

Despite these changes, interest in NFTs, especially premium ones, remains robust. Future market performance will hinge upon factors such as market trends, technological development and user engagement, with the interplay of Ethereum and Bitcoin NFTs being particularly crucial.

In the following section, we delve deeper into the complexities and potential of Bitcoin inscriptions, guided by insights from Basharimov as he sheds light on both the challenges and the promising future of this technology.

Looking to the future, the landscape will be shaped by technological advancements, market dynamics and upcoming challenges.

. This marketplace will incorporate a variety of 

, enhancing user interaction. Additionally, Bybit plans to expand its offerings by gradually integrating marketplaces from various protocols, providing users with a broader range of trading options within the Bybit Wallet ecosystem. Stay tuned for this exciting development by following our official 

 and tune in to our AMA with Lorenzo from UniSat and Dirk from Bybit Web3 on Jan 29, 2024, 1PM UTC.

Inscriptions using Bitcoin's Ordinal system are seen by sources such as Bybit’s Daniel Basharimov as a potential catalyst for a new era of digital creativity and ownership. This integration of non-fungible tokens into Bitcoin's core could provide a unique combination of security, decentralization and boundless possibilities. Experts suggest that, whether inscriptions become a lasting trend or a brief innovation, they represent an opportunity to delve into new creative territory within Bitcoin's robust structure.

Inscriptions: A Gateway to Understanding Ordinals

Grab Up to 5,000 USDT in Rewards

Grab Up to 5,000 USDT in Rewards