New Developments Happening in the Blockchain Space: 29-04-2024
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Bitcoin Traders Brace for Runes Launch by Setting Up Their Own Nodes—Why?
As the launch of Bitcoin's Runes token protocol approaches, some BTC proponents are encouraging Bitcoiners to set up personal nodes.
Exchanging Bitcoin for Runes via a command-line interface? For some, setting up a Bitcoin node—which validates transactions and keeps a record of network activity—that is capable of doing just that evokes a sense of confusion or dread.
For others, it’s a technical endeavour that could come in handy soon when Runes, a protocol for Bitcoin-based fungible tokens (such as meme coins), unleash a sluice of new assets on the network.
“A lot of people are super intimidated to run a Bitcoin node,” Trevor Owens, general partner at the Bitcoin Frontier Fund and CEO of Ninjalerts, told Decrypt. “The reality is that running a Bitcoin node is as hard as using BitTorrent to download seasons of ‘How I Met Your Mother.’”
After launching the NFT-like Ordinals protocol last year, Bitcoin developer Casey Rodarmor proposed Runes as a framework for creating fungible tokens on Bitcoin last September. Read More
US Treasury 'Bending Old Laws Past Their Breaking Point' in Tornado Cash Case: Coinbase
"Immutable, open-source software code isn’t property," Coinbase Chief Legal Officer Paul Grewal wrote in a post on Tornado Cash.
Paul Grewal, Coinbase's chief legal officer, said Monday night that the U.S. Treasury is "bending old laws past their breaking point" in its quest to sanction Ethereum mixer protocol Tornado Cash.
A cryptocurrency mixer obscures the sender and receiver of a transaction, affording people who use public blockchains some privacy. But regulators have decided that the developers and holders of the TORN governance token bear responsibility if and when the mixers have been used to transfer illicit funds.
As a result, in 2022, the U.S. Treasury's Office of Foreign Asset Control sanctioned Tornado Cash. Federal prosecutors then filed charges against Tornado Cash founders Roman Storm and Roman Semenov, charging them with money laundering, sanctions violations, and conspiracy to operate an unlicensed money-transmitting business.
In a bid to fight back, Tornado Cash sued the U.S. government—with Coinbase's backing. Read More
Ore creator proposes rewards to tackle Solana congestion
Hardhat Chad clarified that he isn’t looking for funds from the foundation; his goal for Ore is to establish a currency, not develop testnet tools.
Hardhat Chad, the pseudonymous creator of the Ore project, has suggested that the Solana Foundation offer a reward if it intends to incentivize testnet activity.
This suggestion comes after the Solana network faced congestion issues for nearly a week, with a transaction failure rate as high as 75%.
In a post on the X social platform, Hardhat Chad said that if Solana blockchain platform wishes to encourage users to participate in testnet activities, such as testing new features or protocols, the Solana Foundation should provide an incentive in the form of SOL tokens.
This incentive could motivate users to actively engage in testing, which can improve the platform’s performance and identify potential issues before deployment to the mainnet. Read More
Why Ripple is launching a dollar-backed stablecoin
Ripple’s stablecoin, which is yet to receive an official name, aims to be a United States dollar-pegged digital asset.
Ripple — a well-known player in the blockchain and cross-border peer-to-peer payments space — announced its foray into the stablecoin market in early 2024. This initiative could significantly impact the company and the broader cryptocurrency landscape.
The announcement is particularly noteworthy considering the rise in institutional interest in the cryptocurrency and digital assets space. Ripple’s stablecoin’s value will be directly tied to the U.S. dollar, offering stability and predictability compared to the often volatile cryptocurrency market.
News of the stablecoin surfaced in early 2024, following whispers within the industry. The official announcement highlighted Ripple’s intention to create a high-quality, trustworthy alternative to existing stablecoins like Tether (USDT) and USD Coin (USDC). These established players have faced criticism in the past regarding transparency and the nature of their reserves backing the peg. Read More
Are You New To Markethive? Do You Want To Start Accumulating Markethive Coin Before The Next Bull Run?
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As Markethive continues to gain traction with new members joining daily, Markethive is steadfast and in preparation to take a large share of the new Market Network that is the next generation following the social media craze of Web 2.0. Markethive is a Social Market Broadcasting Network. It sounds like a mouthful, and it is!
Markethive is an all-encompassing platform that has integrated;
- Social Media (like Facebook, LinkedIn),
- SAAS tools (like GoToMeeting, Aweber, Google Apps),
- Inbound Marketing (like Marketo, Hubspot),
- Commerce platforms (like eBay, Freelancers, Amazon)
- Digital Media (like Cointelegraph, Bitcoin.com).
As Markethive’s foundation is Blockchain-driven, it has its consumer coin, currently named Markethive Coin (MHV), but soon to be renamed Hivecoin (HVC – the Ticker Symbol). It is fully integrated into the system and has created an Ecosystem for all Markethive members, free and upgraded Entrepreneurs.
So Markethive has established its niche as the only Social Market Broadcasting Network with an infinity Airdrop and a system that rewards the users for engaging on the platform and learning how to use it with ongoing, real-time micropayments, otherwise known as a Faucet.
Markethive has the combined power of Facebook, LinkedIn, Marketo, and Amazon, with the real advantage of deriving income within the Markethive system while promoting your business and enjoying the social media interface. Read More
What is Optimism? Ethereum’s layer-2 scaling solution explained
Optimism is an Ethereum-compatible layer-2 project that hopes to solve Ethereum’s scalability issues while functioning similarly to the Ethereum blockchain.
Optimism is an Ethereum layer-2 scalability solution led by The Optimism Collective — an organization of dedicated communities aiming to build their vision of an equitable internet. The collective covers all of Optimism’s branches, such as OP Labs, OP Chains and the Optimism Foundation.
The project is designed to work similarly to Ethereum, providing users with a variety of decentralized applications (DApps) like decentralized exchanges and other decentralized finance (DeFi) applications.
Optimism is compatible with the Ethereum Virtual Machine (EVM). This EVM equivalence ensures that Ethereum developers can easily transition when building DApps within the network. The network’s standout function, however, is optimistic rollups. Read More
Binance Integrates ARC-20 Tokens on Inscriptions Marketplace, Offers Zero-Fee Trading
Binance has recently integrated ARC-20 tokens into its Inscriptions Marketplace, expanding the range of inscription tokens available for trading. The integration of ARC-20 tokens further enhances the functionality and options within the Binance Web3 Wallet.
Users can now enjoy zero-fee trading on ARC-20 tokens during the promotion period, which runs from April 3 to June 2, 2024. This promotion provides an opportunity for traders to engage in ARC-20 token trading without incurring any fees.
Binance Inscriptions Marketplace serves as a one-stop solution within the Binance Web3 Wallet. It allows users to inscribe and trade various inscription tokens, including BRC-20 tokens, EVM tokens, and now ARC-20 tokens. This marketplace offers a convenient platform for users to explore and participate in the inscription token ecosystem. Read More
Blockchains should make money move like email — Stellar Development Foundation CEO
Denelle Dixon believes the success of blockchain protocols will hinge on the ability of traditional finance to move value on- and off-chain.
Blockchain protocols must allow financial assets to move seamlessly across traditional and on-chain infrastructures to achieve mainstream adoption.
Denelle Dixon, CEO of Stellar Development Foundation (SDF), hammered home this crucial point in a conversation with Cointelegraph during Paris Blockchain Week.
“From the beginning, we’ve focused on making money move like email, but we really understood that to do that, you needed the on- and off-ramps and couldn’t rely on transacting with volatile cryptocurrencies,” Dixon said.
The SDF CEO is a former trial lawyer who went on to work at Yahoo and Mozilla. Reflecting on her journey into the blockchain ecosystem, Dixon credited Stellar founder Jed McCaleb for luring her to the layer-1 protocol. Read More
How to store crypto assets in a self-custodial wallet
Discover the working pros, cons and step-by-step setup to gain control of your crypto assets via self-custodial wallets.
The cryptocurrency landscape is dynamic and characterized by frequent token releases. While some are familiar with popular cryptocurrencies like Bitcoin, Ether and Solana, numerous tokens continually emerge in the ecosystem. Those interested in holding cryptocurrencies have two main options: a centralized exchange (CEX) wallet or a private (self-custodial) wallet to store them, and both approaches have pros and cons.
This article will explain self-custodial wallets and share basic steps to set up a beginner Trust Wallet to take control of your crypto assets. 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.
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