New Developments Happening in the Blockchain Space: 19-04-2024
Image Source: Pixabay
Sui Gaming Handheld Targets Steam Deck, Runs PC and Crypto Games
The SuiPlay0x1 is a portable gaming device that aims to take crypto games mainstream via Sui integration—and token incentives.
Gaming startup Playtron is trying to challenge the dominance of handhelds from existing giants like Steam and Nintendo with the launch of a low-cost, flexible operating system that can run on all kinds of devices—and it’s teaming with Mysten Labs to launch a Sui-branded model.
On Wednesday, Playtron and Mysten Labs revealed the SuiPlay0x1 at the Sui Basecamp event in Paris—it’s a handheld gaming device that runs the Linux-based Playtron OS.
Expected to launch in 2025, the portable console will be able to run games built on Sui, but also blockchain games on other networks, as well as PC games from Steam, Epic Games Store, and beyond—so long as it has enough power (those details have not been announced yet).
Mysten and Playtron are promising deep, native integration for the Sui blockchain. Read More
Move-to-earn protocol StepN announces $30M airdrop for users
Loyal users of the popular Solana-based lifestyle app can claim rewards by the end of April.
Move-to-earn lifestyle app StepN, built on the Solana blockchain, is airdropping 100 million FSL points, worth approximately $30 million, to its users.
According to the April 10 announcement, the FSL points are redeemable at a 1:1 ratio for StepN’s GMT token and can also be used in upcoming StepN nonfungible token (NFT) mints alongside obtaining exclusive prizes. “We have decided to launch this huge airdrop campaign as a token of gratitude to our most loyal community members,” said Shiti Manghani, CEO of StepN.
“The first airdrop of this week, for our Badge Holders, was dedicated to our core players,” StepN wrote, continuing: “Those who are truly playing the hard way. For them, we airdropped an FSL Points allocation based on the complexity of their in-app achievements.” Read More
Does wine age better on the blockchain?
GrtWines is taking the $441 billion fine wine market and putting it on-chain through Web3 tokenization, with the aim of opening new doors for investors of all generations.
In an effort to redefine the world of fine wine investment, a new Web3 marketplace aims to uncork the next era of market accessibility.
GrtWines, co-founded by former CLSA Chairman Jonathan Slone and acclaimed wine critic James Suckling, is a digital platform that allows collectors and investors of vintage and fine wines access to the market via digital asset tokenization.
Each digital certificate issued is tied to a real, investment-grade bottle of wine sourced directly from prestigious wineries. They are sourced directly from renowned wineries and stored in optimal condition until ready to be redeemed and delivered.
Victor Yin, the CTO and co-founder at GrtWines called the creation of the platform a “significant milestone” in the maturation of the digital asset industry and blockchain technology and a new way to “democratize” the wine industry. Read More
Blockchain in trademark and brand protection, explained
Blockchain technology revolutionizes how businesses fight counterfeiting, ensure supply chain transparency, and manage digital rights.
Anti-counterfeiting software is one of the key applications of blockchain in trademarks and brand protection. Through the use of blockchain technology, firms are able to generate irreversible documentation of product legitimacy. It is possible to provide each product with a unique identification number that allows retailers and customers to instantly confirm its legitimacy. In addition to shielding customers against fake items, this also helps firms preserve their goodwill, ensure data integrity, and win over new customers.
Additionally, supply chains benefit from the transparency and traceability that blockchain offers, allowing firms to monitor the flow of goods from manufacturing to distribution. Businesses can use blockchain technology to confirm the legitimacy of products and spot any illegal or fake goods that are trading in the market. This preserves the business’s reputation and builds consumer trust by ensuring the authenticity of the products. Read More
From Financial To Physical. The Next Big Thing In Crypto – DePIN
Recently, there has been significant interest in decentralized physical infrastructure, also known as DePIN, within the crypto space. People are curious about the potential of this niche and which specific projects within it are worth noting. The latest detailed study, titled State of DePIN 2023 by Messari, aims to provide insights into these questions. This summary will highlight key findings from the report and discuss their potential impact on the cryptocurrency market.
What Is DePIN?
The report commences with a concise delineation of DePIN, an acronym for decentralized physical infrastructure. It encompasses a cluster of ventures that employ cryptocurrency-based incentives to foster a range of physical infrastructure. These initiatives span from decentralized Wi-Fi systems, decentralized computing clouds, decentralized cloud storage solutions, and decentralized mobile networks to other similar endeavours. A salient feature that sets most DePIN projects apart, in addition to their crypto-based incentives, is the accessibility for individuals to contribute, provided they possess the requisite hardware. Read More
.png)
Solana (SOL) Validators Approve "Timely Vote Credits" Proposal to Accelerate Blockchain Transactions
Solana validators have approved a proposal called "Timely Vote Credits" to reduce consensus vote latency and incentivize timely votes, potentially speeding up blockchain transactions, before implementing the mechanism.
Solana (SOL) validators have voted in favor of a proposal called "Timely Vote Credits" that aims to reduce the latency of consensus votes, potentially accelerating blockchain transactions. This proposal introduces a mechanism to incentivize validators to make timely votes, addressing an issue where some validators delay their votes to maximize earnings without penalty.
Currently, Solana validators receive a fixed one-vote credit for each consensus vote they submit on a finalized block. However, this incentive structure has led to intentional delays in voting, as validators wait until they are certain they are voting on the correct fork to optimize their earnings. This delay in voting can contribute to increased latency in the consensus process and slower transaction processing times.
The "Timely Vote Credits" proposal, initially suggested by Solana validator Shinobi Systems, introduces a variable number of vote credits based on the latency of the votes. Votes with lower latency will receive a higher number of credits, incentivizing validators to submit their votes promptly. By rewarding timely votes, the proposal aims to discourage intentional delays and reduce the overall latency of consensus votes on the Solana blockchain. Read More
Chainlink aims to bolster cross-chain security via Transporter
Chainlink aims to make cross-chain bridges, which account for nearly 50% of all value lost to DeFi exploits, more secure.
Chainlink’s newly launched cross-chain messaging app aims to solve the pressing security concerns around cross-chain crypto transfers, a Chainlink spokesperson told Cointelegraph:
“Chainlink CCIP, which underpins Transporter, is the only cross-chain protocol that achieves level-5 security, a defence-in-depth design to give users true peace of mind."
Chainlink announced the launch of Transporter, a cross-chain messaging app for bridging tokens, on April 11. Built on Chainlink’s Cross-Chain Interoperability Protocol (CCIP), Transporter aims to foster more secure cross-chain crypto transfers with a beginner-friendly app interface.
Cross-chain bridges help users facilitate transactions between different blockchain networks. They represent some of the most significant points of vulnerability in crypto. Read More
Chainlink Transporter to Bridge Assets Across Ethereum, Optimism, Base and More
Oracle provider, Chainlink, is connecting the blockchain with a new cross-chain bridging app promising “unmatched” security.
Dominant decentralized oracle provider Chainlink has launched an app that enables the cross-chain transfer of cryptocurrencies. Called Transporter, the app will allow the transfer of tokens across the Arbitrum, Avalanche, Base, BNB Chain, Ethereum, Optimism, Polygon, and WEMIX networks.
“Bridging crypto across chains has historically been a risky activity, with bridge hacks accounting for nearly 50% of all value hacked in DeFi,” a Chainlink spokesperson told Decrypt. “Transporter leverages Chainlink CCIP’s (cross-chain interoperability protocol) unmatched levels of security and reliability to finally give users peace of mind when sending tokens and messages cross-chain.”
Transferring tokens from one chain to another is a key part of using cryptocurrencies, but has long been a risky activity. In 2022, Chainalysis found that attacks on bridges accounted for 69% of total funds stolen, with one crypto bridge exploited for $190 million—even gaining attraction from North Korean-linked hackers. Chainlink believes its CCIP has a security level which will see these alarming figures dip. Read More
Ethereum’s Pectra upgrade to make normal wallets ‘smart’ and improve UX
The update would add an improvement proposal inclusive of new operating instructions for wallets that give them smart contract-like features.
Ethereum’s Pectra upgrade, slated for late 2024 or early 2025, is bringing with it a host of more functionality for crypto wallets and upgrades to their user experience (UX).
Ethereum Improvement Proposal (EIP) 3074 was approved for inclusion in the next update, which allows normal crypto wallets to work like smart contracts.
One of EIP-3074’s functions gives standard externally owned accounts (EOAs), normal wallets such as a MetaMask wallet, smart contract capabilities. Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
Thanks for visiting.