New Developments Happening in the Blockchain Space: 03-05-2024

New Developments Happening in the Blockchain Space: 03-05-2024

New Developments Happening in the Blockchain Space 03-05-2024

Image Source: Pixabay


Bridging data gaps in DeFi: Oracle platforms merge to improve transparency

Oracles are critical in decentralized finance for bridging real-world data with blockchain networks, yet challenges persist in achieving accurate asset valuations and detailed credit assessments.

Gora and RociFi merge to form the DeFi Risk Oracle, integrating their strengths in data feeds and credit scoring to address DeFi’s challenges with asset valuation and risk assessment.

Access to accurate and comprehensive data is pivotal for maintaining secure and fair financial systems in decentralized finance (DeFi). Oracles play a crucial role by bridging the gap between real-world information and blockchain networks, which are inherently isolated.

Despite the integration of oracles, the DeFi sector still grapples with issues such as ensuring precise asset valuations, essential for financial activities like loan management. Additionally, the lack of detailed, individualized credit data complicates risk assessments, which can hinder the development of customized financial products and governance systems, highlighting the need for improved mechanisms to bolster transparency and efficiency in DeFi operations. Read More


 

Centralized Exchanges Are Already Listing Bitcoin Runes—Which Ones Will Be Next?

Bitcoin Runes tokens are already trading via Gate.io, as other big exchanges potentially test the waters. Will widespread adoption follow?

Bitcoin’s new Runes fungible token standard launched late Friday alongside the quadrennial halving event, and the immediate demand pushed network fees to a level never before seen on the original blockchain network. Already, at least one centralized exchange (or CEX) has already taken notice and gotten in on the action.

The Cayman Islands-based exchange Gate.io has already listed three of the earliest Runes tokens on Bitcoin: SATOSHI•NAKAMOTO (no connection to the pseudonymous Bitcoin creator), MEME•ECONOMICS, and WANKO•MANKO•RUNES.

WANKO•MANKO•RUNES is the odd token out there, but the other two tokens have something in common besides the odd naming scheme with the interpunct between words (due to protocol naming conventions): They’re among the first 10 tokens etched via the Runes protocol.

There was a mad rush to launch Runes tokens on Friday when the protocol went live, so much so that it helped push Bitcoin network fees on the first several post-halving blocks into the millions of dollars combined. Read More


 

Bitcoin Runes Launch on Magic Eden in Attempt to 'Streamline' BTC Token Trading

Just three days after Bitcoin's Runes protocol launched, Magic Eden has rolled out support for the tokens. Here's what to expect.

Just days after the launch of Bitcoin’s buzzy Runes fungible token standard, leading cross-chain NFT marketplace Magic Eden has launched its promised Runes platform, aiming to ease some of the early headaches that traders have encountered around the tokens.

As enthusiasts grapple with the complexities of new technology, some traders have griped about the frustrations of the bumpy minting and trading experience around Runes. Whether it's running a node, minting via Xverse on Luminex, or trading on Unisat, the steep learning curve is evident.

Monday's launch of Magic Eden’s Runes platform, in beta, is the latest chapter in the company’s expanding embrace of the Bitcoin ecosystem. It has also arrived a day before its announced launch, which was originally scheduled for April 23. Read More


 

Scammers eye Toncoin as Telegram-TON partnership grabs headlines

Telegram’s integration of the TON blockchain and its native Toncoin token has become a honeypot for scammers promoting a referral pyramid scheme.

Telegram’s public support for The Open Network (TON) blockchain and its intention to incorporate its native Toncoin token have led to scammers targeting unsuspecting tokenholders to exploit them.

Information shared with Cointelegraph from cybersecurity firm Kaspersky outlines a cryptocurrency scam that has been attempting to steal Toncoin (TON) from Telegram users worldwide.

According to experts at Kaspersky, the scam has been operating since at least November 2023 as interest and investments in TON surged. Scammers have been promoting an elaborate referral scheme that ultimately aims to steal TON tokens from users. Read More


 

About The Markethive Wallet – What You Need To Know

Great news, Markethivers! The wallet is now installed on the Markethive platform. Markethive has kept its promise and delivered a complete working wallet. This mighty, robust, and secure wallet encompasses all aspects of facilitating your business and securing all your financials within Markethive, like earnings and payments, dividends paid from your ILPs, retail products, etc. 

This is a significant step in the right direction for monetizing Markethive’s ecosystem as it endeavours to ensure and restore sovereignty and financial freedom increasingly being stripped from us by a global authoritarian regime. This article will illustrate what you need to know and do to access the now-operational wallet. 

Understand that access and functions of the wallet are only for Entrepreneur One (E1) members at this stage. E1 members can now retrieve their Hivecoin (HVC) from their cold storage to their hot wallet. (You can do this in preparation for the forthcoming coin exchanges and your 3rd party self-custody wallet.) You can also transfer HVC to other members within Markethive via the wallet. Read More


 

X payments details released: App to become your bank account

X users should eventually be able to use the app’s anticipated payment features to send money to other users, buy things in stores, and even earn interest on their account holdings.

X users will one day be able to use the platform to send money to other users, purchase goods from stores, and even earn interest on the money in their accounts as one would do with a bank account, said the head of payments at X. 

In an April 22 post, X payments chief information security officer Christopher Stanley said the payment capabilities of X would go beyond “just tipping” and expand to include an in-app wallet capable of storing and sending money to any other X users.

“Think Venmo at first. Then, as things evolve, you can gain interest, buy products, eventually use it to buy things in stores (think Apple Pay),” said Stanley.

Stanley added that the “end goal” of payments on X was to create a fully functioning financial ecosystem where users never have to withdraw funds to conduct typical transactions.

“The end goal is if you ever have any incentive to take money out of our system, then we have failed, you shouldn’t ever need to take money out because you should be able to do anything you need on our platform.” Read More


 

What Happens When the Last Bitcoin Is Mined?

Bitcoin relies on miners to be secure and functional. Miners rely on block rewards to be profitable and competitive. What happens when there’s nothing left to mine?

Imagine a world where the money supply is finite, and there’s no dollars left to print. Sounds bizarre, right? But in the realm of Bitcoin, this scenario is not only possible but inevitable.

The Bitcoin network, designed with a finite supply of 21 million coins, just hit a significant milestone: the halving just chopped its inflation rate by 50% for the fourth time since its inception. As of now, 19,688,016 Bitcoin has been mined, leaving less than 2 million to be discovered over the next 120 years. This scarcity, coupled with the increasing demand for Bitcoin, is set to reshape the cryptocurrency's future.

The roadmap to the final Bitcoin being mined is a gradual process. By 2026, 95.24% of Bitcoins will have been mined, and by 2039, this figure will reach 99.52%. The mining of the penultimate Bitcoin is projected to occur around 2093. Read More


 

Democracy Fails Without Cryptocurrency

Cryptocurrency is doing more than just shaking up finance; it’s giving democracy a much-needed hand. By operating free from the control of monetary authorities and in the open for all to see, cryptocurrencies like Bitcoin are giving people the power to hold their governments accountable.

Crypto will force governments, no matter how big, to reign in their spending; otherwise people will ditch the worthless paper for safer stores of value like Bitcoin. Fully decentralized cryptocurrencies provide transparency and accountability, making corruption less likely and easier to prosecute.

For those who can’t access traditional banking, cryptocurrencies are a game-changer. They offer a way to save money, make payments, and access financial services without the barriers and costs that keep most people out of the banking system.

Cryptocurrencies are also an important tool for those protesting or fighting against censorship. In places where governments control financial transactions, cryptocurrencies offer a way to move money freely. Read More


 

Wallets linked to Coinbase and Vitalik Buterin have millions ‘stuck’ in bridge contracts

Arkham Research tagged and notified wallet owners to look at the addresses and retrieve their funds, which have been stuck for months.

Dozens of crypto whale wallets with assets ranging from six to seven figures are stuck on multiple decentralized finance (DeFi) bridge contracts.

One of these whale wallets is linked to Ethereum co-founder Vitalik Buterin, who has over $1 million worth of assets stuck for over seven months, with other wallets having assets unclaimed for over two years.

According to a report published by crypto analytics firm Arkham Intelligence, several notable whale addresses linked to prominent crypto individuals and entities have their funds stuck in the bridge contracts for as long as two years.

DeFi bridge contracts are software protocols that allow the movement of assets and data between different blockchain networks, enabling interoperability within the DeFi ecosystem. 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.

 

 

ecosystem for entrepreneurs

 

 

 

Thanks for visiting.

New Developments Happening in the Blockchain Space: 01-05-2024

New Developments Happening in the Blockchain Space: 01-05-2024

New Developments Happening in the Blockchain Space 01-05-2024

Image Source: Pixabay


Kraken Introduces Simple, Secure, and Powerful Kraken Wallet

Kraken, a leading cryptocurrency exchange, has taken a significant step towards accelerating crypto adoption with the release of Kraken Wallet. The self-custodial wallet is designed to be simple, secure, and powerful, offering users an easy-to-use gateway to the decentralized financial system.

Whether individuals are Kraken clients or not, they can utilize the multichain Kraken Wallet as a bridge to the world of decentralized finance. Built on the principles of privacy and security, Kraken Wallet ensures self-custody of digital assets and data. Users can enjoy an onchain experience supported by Kraken's world-class security measures and dedicated client service.

Kraken Wallet provides a beautiful user experience, eliminating the need for network switching or manually creating multiple seed phrases. It serves as a one-stop solution for all self-custody needs, offering features such as comprehensive portfolio tracking, multichain support, WalletConnect integration, and round-the-clock customer support. Read More


 

New Telegram mini-apps will be so convenient users won’t know it’s crypto

TON Foundation’s Justin Hyun tells Cointelegraph about the benefits of Tether’s launch on the TON chain.

Telegram’s 900 million users will be able to make peer-to-peer interactions seamlessly as the messaging app incorporates mini-apps and the Tether stablecoins. Many users will interface with crypto for the first time and not even notice it. 

Developers will also benefit as they launch ecommerce, paywalled content, games and other business activities on top of The Open Network’s (TON’s) layer-1 blockchain more smoothly thanks to the stablecoin, TON Foundation director of investments Justin Hyun told Cointelegraph’s Ezra Reguerra at the Token2049 conference in Dubai. TON is also continuing the rollout of its wallet.

The launch of Tether on TON “really unlocks the creator economy that is already happening in TON and Telegram” as users “no longer need to jump through the barriers of having to acquire a different type of crypto or token,” Hyun said. He added:

“The most interesting use cases are the ones that engage in social viral mechanics. So there are games that are being created on a daily basis that are powered through Telegram mini-apps.” Read More


 

What are Ether futures ETFs, and how do they work?

Ether futures ETFs are investment funds that track Ethereum futures contracts, not Ethereum itself.

Consider a contract that commits to purchasing Ethereum at a specific price at a future time. These derivative contracts are traded via Ether (ETH) futures exchange-traded funds (ETFs), providing a regulated method of investing in Ethereum using a brokerage account.

In 2021, the first Ether futures ETFs were introduced in Canada. Although futures-based ETFs have been approved, the United States Securities and Exchange Commission (SEC) has not yet approved a spot Ether ETF in the country.

Asset management companies oversee Ether futures ETFs. The major issuers offering Ether futures ETFs are Bitwise, VanEck and ProShares. These firms take care of the complexities involved in purchasing and disposing of futures contracts, controlling rollovers to preserve exposure and ensuring the ETF complies with legal requirements. Read More


 

How to add USDT to MetaMask wallet

Learn how to easily transfer USDT to your MetaMask wallet and start using it on various decentralized applications (DApps).

MetaMask is among the most popular cryptocurrency wallets globally, known for its ease of use and robust security features. Functioning primarily as a browser extension and a mobile app, MetaMask provides a gateway for users to interact with Ethereum’s decentralized ecosystem and other compatible networks. It facilitates seamless access to decentralized applications (DApps), token swaps and the broader Web3 environment.

Tether, on the other hand, is a cornerstone of the stablecoin market. Its role in the crypto market is pivotal; it aims to provide a stable digital asset pegged to the United States dollar.

As a bridge between fiat and cryptocurrencies, USDT enables faster, less expensive transactions than traditional banking systems, and its integration into MetaMask opens up a wide range of opportunities for users to leverage its stability within their digital asset portfolios.

This article provides an overview of certain requirements before moving USDT to MetaMask, the procedure of adding USDT to MetaMask, receiving USDT in MetaMask, tracking USDT transactions on MetaMask and troubleshooting common issues with USDT in MetaMask. Read More


 

What’s Wrong With News And Social Media Today? 

A democratic society values a free-flowing media ecosystem. A healthy media ecosystem is one of the characteristics of a democratic society. Mass media outlets such as newspapers and cable TV networks were prominent in the past. Today, the internet and social media platforms allow for greater communication across society. 

Journalism, investigative correspondents, and even freelance writers are essential to that ecosystem. High-quality reporting revealing brutal truths and users' scope and exposure on social media to either create or access information are forces that can drive genuine societal change. And even keep the power structures in check. 

Despite the positive aspects mentioned above, harmful practices and negative external forces related to the media ecosystem often eclipse them. These issues are usually easy to recognize once they’re identified. Therefore, it is important to acknowledge them and spread awareness about their potential risks. 

Doing so will help you make informed decisions about how you use media and how it can impact your life and the lives of others. The following are a few issues pervasive in many digital news sites, forums, and social media platforms. Read More

Markethive Media has embraced blockchain technology and cryptocurrency, building an ecosystem that belongs to “we the people,” eliminating many of the issues plagued by media outlets today. With its meritocratic culture, dynamic social media interface, and growing community, Markethive is enhancing and bringing the platform into the future internet with new technology and interfaces, but still in keeping with the human touch.


 

DApp developers can benefit from decentralization without compromise: Here’s how

Web3 innovators are creating an alternative to the centralized giants that dominate the middleware space.

Supporting an inclusive Web3 era with innovative data indexing tools, SubQuery Network is building a more accessible and robust digital future powered by decentralized middleware.

Middleware plays a crucial role in decentralized applications (DApps) by bridging the gap between blockchains and user interfaces. It encompasses various components such as indexers, which organize blockchain data, and remote procedure calls (RPCs), enabling network interactions to function as if they were local. Additionally, middleware includes oracles and decentralized data storage services, which are software solutions that transfer real-world data to the blockchain.

While middleware enhances the scalability and usability of DApps, its inherently centralized structure poses significant challenges. This centralization can lead to instability and risks a single entity gaining control, which threatens the core principles of decentralization within the Web3 ecosystem.

To address these concerns, the Web3 community is actively developing alternatives to reinforce the decentralization of the middleware layer. These efforts ensure the infrastructure remains robust and true to the decentralized ethos. Read More


 

Orbs VP Ran Hammer Says Future of Defi 'Hinges on Liquidity Aggregation'

Although decentralized finance (defi) platforms have traditionally focused more on maintaining liquidity and volumes in their respective pools, Ran Hammer, the vice president of business development at Orbs, believes that “the future of defi hinges on liquidity aggregation.” According to Hammer, this shift is evidenced by the emergence of dominant aggregators that optimize trades by tapping into all available liquidity sources.

In his written responses sent to Bitcoin.com News, Hammer stated that these aggregators, such as Uniswapx, Cowswap, or Jupiter, “outsource the complexity of routing to a network of third-party fillers, also known as solvers.” These solvers execute swaps using on-chain third-party liquidity sources, enabling them to improve execution prices on most trades.

However, as the defi ecosystem moves towards the much-needed liquidity aggregation, Hammer identified the current fragmented state of this landscape as the “most significant hurdle” preventing defi protocols from competing with centralized exchanges (CEXs). Read More


 

Solana Developers Deploy Fixes to Mainnet to Address Network Congestion

Developers of the Solana blockchain are developing fixes to address the issue of network congestion in their blockchain. Anza, a Solana-focused developer collective, announced the release of v1.17.31, recommending it for general use. At the time of writing, almost 90% of the validators, nodes that help secure the network and broadcast transactions, had upgraded to this new software.

The update includes modifications regarding how the software deals with “super-low stake” validators. It also addresses problems with QUIC, a transport protocol believed to cause some of these congestion issues. Rex St. John, head of developer relations at Anza, stated that the results of this patch seemed good, but that work on the next patches will be delayed.

Due to a rise in transactions involving meme coins and other tokens, Solana’s network has been unable to recover its operativity levels since more than a month ago, remaining congested. Currently, Dune dashboards show that 7 of every 10 non-voting transactions fail. Read More


 

Merlin Chain ‘sets new standard’ for blockchain security with chain architecture

Merlin Chain, a specialist in Bitcoin-native layer 2 (L2) protocols, has rolled out a comprehensive suite of security measures alongside what it describes as revolutionary chain architecture.

This initiative follows the platform’s remarkable achievement of securing a $3.5 billion Total Value Locked (TVL) just 30 days after its mainnet launch, attracting an impressive cohort of over 200 projects to its rapidly expanding ecosystem.

At the heart of Merlin Chain’s ethos is a commitment to robust security, a principle that has guided the platform since its inception. By forging alliances with premier security experts, Merlin Chain has meticulously crafted a secure haven for user assets, effectively shielding them against a myriad of potential threats. 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.

 

 

ecosystem for entrepreneurs

 

 

 

Thanks for visiting.

New Developments Happening in the Blockchain Space: 29-04-2024

New Developments Happening in the Blockchain Space: 29-04-2024

New Developments Happening in the Blockchain Space 29-04-2024

Image Source: Pixabay


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? 

REFER THREE TO MARKETHIVE TO RECEIVE BONUS AIRDROPS AND ACTIVATE MICROPAYMENTS 

Referral Program For Free Members And Upgraded Associates

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

ecosystem for entrepreneurs


 

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.

 

 

ecosystem for entrepreneurs

 

 

 

Thanks for visiting.

New Developments Happening in the Blockchain Space: 26-04-2024

New Developments Happening in the Blockchain Space: 26-04-2024

New Developments Happening in the Blockchain Space 26-04-2024

Image Source: Pixabay


OKX launches Ethereum layer-2 network for lower fees & interoperability

OKX becomes the latest cryptocurrency exchange to launch an Ethereum-based layer 2 network.

Cryptocurrency exchange OKX has joined the likes of Coinbase in launching an in-house Ethereum-based layer-2 network to provide lower fees and interoperability for users interacting with decentralized applications.

OKX’s launched the public mainnet of X Layer, its zero-knowledge proof powered network, on April 15. The network was built using Polygon’s chain development kit (CDK) and enables shared state and liquidity across multiple blockchain networks using the Ethereum scaling protocol’s Aggregation Layer.

An announcement shared with Cointelegraph notes that X Layer provides faster, cheaper transaction capabilities when interacting with on-chain applications. The network uses ZK-proofs, the underlying technology used by various Ethereum layer-2 networks for improved security and scalability. Read More


 

‘Disable iMessages’ ASAP to avoid crypto zero-day exploit: Trust Wallet

The firm’s CEO, Eowyn Chen, shared a screenshot of the supposed “high-risk” exploit being sold on the dark web for a whopping $2 million.

Crypto wallet provider Trust Wallet is urging Apple users to disable iMessage, citing “credible intel” of a zero-day exploit that could allow hackers to take control of users’ phones.

“Alert for iOS users: We have credible intel regarding a high-risk zero-day exploit targeting iMessage on the Dark Web,” the firm posted to X at 7:53 pm UTC on April 16.

The firm stressed the zero-day exploit can infiltrate and take control of iPhone users without clicking a link and that high-value account holders are most at threat.

A zero-day exploit is a cyberattack vector that takes advantage of an unknown or unaddressed security flaw in computer software, hardware or firmware. Read More


 

Solana Update Brings First Fixes for Congestion Issues

After weeks of failed transactions, Solana might be turning a corner with the launch of a first update for mainnet validators.

The first network update to begin addressing weeks of growing congestion that made Solana incredibly difficult to use as of late rolled out for validators early Monday.

Anza, the dev team that spun out of Solana Labs earlier this year, announced overnight that the v1.17.31 release of the Agave validator client—which is run by the computers that support the Solana network—was released with initial fixes for the congestion issues.

It’s not meant as a singular fix for the issues that have recently plagued the network, but rather a first step with more fixes on the way. According to Anza, this update “contains enhancements which will help alleviate some of the ongoing network congestion, and will be followed by further enhancements in v1.18.” Read More


 

UK to propose clearer crypto regulations by July

The U.K.’s economic secretary to the Treasury, Bim Afolami, said the government’s priority is improving the payments landscape and providing regulatory clarity for digital assets and blockchain.

The United Kingdom Treasury intends to present a regulatory framework for crypto assets and stablecoins by July, with the aim of encouraging local innovation in digital assets and blockchain technology.

The U.K.’s economic secretary to the Treasury, Bim Afolami, revealed the government’s ongoing drive to lay the groundwork for revamping the country’s payments landscape while speaking at the Innovate Finance Global Summit (IFGS) 2024.

Alongside the U.K.’s focus on fiat payment innovation, Afolami highlighted the importance of crypto regulations to remain globally competitive:

“Speaking of true change, I know that the cornerstone of our position as a world leader in fintech is the delivery of our regulatory regime for crypto assets and stablecoins.” Read More


 

Market Purge Continues As Crypto Industry Strives For Maturity. Perfect Timing For Markethive

Also, Updates On New Integrations And The Markethive Wallet

As the bear market continues with its crypto-cleanse and traders bemoan the adverse price action, some industry leaders opine these conditions will eradicate bad actors and create more significant opportunities for upcoming projects and future participants. Several leading crypto analysts and engineers embrace the idea that this is the time to engage in moves leading to the loftiest gains when the bull cycle returns. 

Markethive stands firm with these sentiments and continues to build its next-generation entrepreneurial platform and be ready for the market-cleansed bull run. Those on the Markethive journey may be aware that new features are being integrated into the newsfeed in preparation for the five-channel dashboard housing various feeds. 

The innovative five-channel dashboard integration will consist of five newsfeeds—the general newsfeed, the blog, the video channel, curation, and surveys.

It will significantly streamline your activities and business facilitation and will include a search engine so you can build your personal algorithms. This will save time and effort by eliminating what you don’t want to see in your newsfeeds, be more intuitive, and enhance the user experience. Read More

 


 

Inter-Blockchain Communication (IBC) protocol, explained

IBC is an open-source protocol designed to facilitate message relaying between separate distributed ledgers and was developed to connect independent blockchains.

The Inter-Blockchain Communication (IBC) protocol facilitates data sharing and communication between different blockchains or “zones.” It’s a digital link between several blockchain networks, enabling safe information sharing, asset exchange and interaction. IBC makes diverse chains compatible by enabling trustless communication and value exchange, especially tokens.

The IBC protocol was created and introduced by Cosmos Network in 2019 to address the issue of isolated blockchains, enabling them to safely exchange assets and data and promoting a more accessible and scalable blockchain ecosystem. Furthermore, the Interchain Foundation (ICF) established the Interchain Standards (ICS) to specify the necessary functions for the IBC protocol within the Cosmos ecosystem.

IBC provides a valuable solution to the common issue of cross-chain messaging. This issue is particularly relevant for exchanges aiming to conduct swaps, application-specific blockchains where assets likely originate on specialized chains and private blockchains seeking connectivity with other chains, whether private or public. Read More


 

Tether Announces Upcoming Release Of Multi-Chain Tokenization Platform

Tether, the leading stablecoin company, is preparing to widen the scope of its operations in the cryptocurrency market. Paolo Ardoino, CEO of the company, announced that Tether is on the verge of launching a white-label tokenization platform that would be available for everyone.

In social media, Ardoino announced the imminent release of the still-unnamed platform, describing it as “a masterpiece.” He also clarified that the solution would be fully non-custodial, multi-chain, multi-asset type, and super customizable. When launched, the platform might ease small and medium-sized enterprises’ access to the tokenization arena.

Ardoino remarked on the flexibility of this platform, highlighting the features it will bring to facilitate the tokenization of a range of assets. He detailed:

Tokenize anything from any bonds, stocks or funds to coffee shop reward points. A whitelabel of our tech that supports USDt, a 107+B asset. Read More


 

Is It Wise for E-Commerce Stores to Accept Crypto As Payment?

Cryptocurrencies are transforming the e-commerce industry, offering global reach, cost savings, safety, and cross-border business opportunities, with potential to reach $2.9 billion by 2030.

Everyone is aware of crypto these days. Once obscure, these digital assets are rapidly integrating into the mainstream, particularly in the realm of e-commerce. The industry is predicted to grow from its previous perception as a niche investment for tech enthusiasts to $2.9 billion by 2030.

The increasing digitisation of various aspects of life demands the recognition of virtual currency as an authentic asset, not merely a passing fad. This article will examine why the e-commerce industry is open to accept crypto as a viable payment solution, as well as what benefits it presents. Read More


 

AI bias: how blockchain can ensure its safety

Blockchain technology can combat bias in AI systems through decentralized, transparent smart contracts, but challenges like scalability, interoperability, and regulatory compliance need to be addressed.

As artificial intelligence (AI) becomes increasingly integrated into our daily lives, concerns about bias within AI systems have garnered significant attention. Bias in AI refers to the systematic errors or inaccuracies in decision-making processes, often resulting from the unconscious prejudices of its developers or the data used to train the algorithms. Addressing bias in AI is crucial to ensuring fairness, equity, and safety across various applications, from hiring processes to judicial systems. In this context, blockchain technology emerges as a promising solution to mitigate bias and enhance transparency in AI systems.

According to a post by CyberGhost, human biases can significantly influence AI algorithms, leading to discriminatory outcomes. For instance, if AI systems are trained on biased datasets, they may perpetuate and amplify existing societal inequalities. This highlights the urgent need for innovative approaches to address bias in AI and uphold ethical standards.

Blockchain technology, known primarily for its association with cryptocurrencies like Bitcoin, offers a decentralized and transparent framework that can effectively combat bias in AI. 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.

 

 

ecosystem for entrepreneurs

 

 

 

Thanks for visiting.

New Developments Happening in the Blockchain Space: 24-04-2024

New Developments Happening in the Blockchain Space: 24-04-2024

New Developments Happening in the Blockchain Space 24-04-2024

Image Source: Pixabay


What is restaking, and how to restake Ethereum to boost rewards?

Staking Ethereum refers to using staked Ether on the Ethereum network to support the security of other decentralized protocols at the same time.

Restaking presents a novel concept in cryptocurrency security, enabling stakers to use their Ether in the consensus layer more than once. It allows stakers to increase their rewards while strengthening the security of the staking network by facilitating the deployment of liquid staking tokens with validators across several networks.

Staked tokens usually sit idle on PoS blockchains. Restaking activates staked tokens, facilitating higher staking rewards for restakers. Whether someone is staking Ethereum directly or using a liquid staking token (LST), they could use a restaking protocol such as EigenLayer to receive additional rewards on their staked tokens.

The sheer number of validators on the Ethereum network participating in the PoS consensus mechanism makes it stand out. But staked ETH lies dormant. Thanks to liquid staking protocols, the staked ETH gets converted into fungible tokens, enabling stakers to use it in decentralized finance (DeFi) applications. The mechanism sets aside the minimum 32 ETH staking cap, enabling users with smaller holdings to earn staking rewards. Read More


 

How to Set Up a Bitcoin Node: A Guide for Beginners

As the halving cuts miner rewards in half, there are other ways to participate in the Bitcoin network. Here are the simplest ways to connect your PC.

The Bitcoin network and its community of users is sprawling and diverse. Fans of the top cryptocurrency can participate beyond mining or inscribing dog pictures or video games by setting up a Bitcoin node, which are essential infrastructure to keep the OG blockchain decentralized and running.

While all Bitcoin miners are nodes, not all nodes are miners. A Bitcoin node validates transactions and can run on any computer with the capacity to store a copy of the full Bitcoin blockchain. Currently, the Bitcoin ledger weighs in at about 500 GB. A miner, on the other hand, validates transactions but also competes to add new blocks to the Bitcoin blockchain in order to earn mining rewards.

In this article, we will look at how to set up a Bitcoin Node using a Windows 11 PC using the Bitcoin Core software and Umbrel. Read More


 

Solana's mainnet beta update v1.17.31 aims to resolve congestion issues

The Solana Foundation claimed ongoing network congestion could be attributed to the high demand for Solana block space and increased network activity.

Solana developers have released a mainnet beta update, v1.17.31, to deal with the ongoing network congestion on the Solana blockchain.

The update was released on April 12, and now, after three days of testing, it is being recommended for general use by mainnet beta validators. 

This patch contains enhancements that will help with some of the ongoing network congestion and will be followed by further enhancements in v1.18.

The current version will help improve the network congestion and issues with the open interest jump. Read More


 

Crypto sleuth warns of scammers behind DeFi protocol

The group has been linked to several rug pulls, among them Magnate, Kokomo, Solfire and Lendora.

Pseudonymous blockchain investigator ZachXBT issued a warning about a group of scammers attempting to entrap more victims in a new fraud using millions of stolen funds. 

In a thread on X, ZachXBT disclosed the findings of an investigation over Leaper Finance, a lending protocol based on Blast. According to the analysis, the group is behind several rug pulls, including those that hit users of Magnate ($6.5 million), Kokomo ($4 million), Solfire ($4.8 million) and Lendora.

“In the past they let the TVL grow to 7 figs before stealing all of users funds deposited to the protocol and falsify KYC documents + use low tier audit firms. They now have launched scams on Base, Solana, Scroll, Optimism, Arbitrum, Ethereum, Avalanche, etc,” noted ZachXBT. 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


 

Crypto on-ramps and off-ramps, explained

Crypto on-ramps streamline transactions for both individuals and businesses by enabling them to acquire cryptocurrencies through familiar payment methods such as credit cards or bank transfers.

Crypto off-ramps facilitate the conversion of cryptocurrencies into traditional fiat currency, allowing users to withdraw their digital assets as usable funds in the conventional financial system.

Centralized exchanges provide user-friendly interfaces and integrated payment methods. Decentralized exchanges enable users to keep control of their assets. Ramps like Bitcoin ATMs and crypto payment cards are also available. Read More


 

Play Games, Earn Bitcoin: The Best iOS and Android Games That Pay You BTC

You can stack up satoshis while playing Bitcoin games on iOS and Android—and these are actually fun.

Did you know that there are mobile games that pay real Bitcoin for playing? These are legit games that you can download from the iOS App Store or Android Play Store, and as you play the game and watch ads between rounds or levels, you’ll stack up satoshis (aka the smallest denomination of a Bitcoin).

Granted, you’ll need to keep your expectations in check—most of these games pay out something in the ballpark of a few cents worth of Bitcoin per hour of play. Nobody’s going to get rich playing a Bitcoin-infused version of sudoku. But if you’re to play that kind of game anyway, then why not rack up a little bit of BTC along the way? Read More


 

Coinbase Challenges SEC’s Definition of 'Investment Contracts' in Crypto Transactions

In its latest brief, Coinbase argues that the U.S. Securities and Exchange Commission’s (SEC) application of the term “investment contract” to various cryptocurrency transactions exceeds the legal bounds set by Congress. According to the company’s court filing, this overreach could stifle innovation and place a heavy burden on the digital asset sector, which is a vital part of the modern financial ecosystem. The core of Coinbase‘s argument hinges on the necessity for an “investment contract” to involve explicit contractual obligations post-transaction, which the SEC’s current stance does not seem to require.

“The not-at-all funny thing is, we’re not alone in thinking the question of when a crypto transaction might be an ‘investment contract’ warrants interlocutory appeal,” Coinbase’s chief legal officer Paul Grewal wrote on X. The Coinbase legal chief added:

The SEC itself has made the identical arguments. In the Ripple case, they said specifically there is ‘controlling question[] of law to which there are substantial grounds for difference of opinion’ and noted ‘industry-wide significance’ of the question presented. Read More


 

Ethereum's Pectra Upgrade to Enhance Wallet Functionality and User Experience

Ethereum's Pectra upgrade, expected in late 2024 or early 2025, will enhance crypto wallets' user experience and functionality, enabling smart contracts and sponsored transactions, but posing security concerns.

With the introduction of its Pectra update in late 2024 or early 2025, Ethereum hopes to significantly enhance cryptocurrency wallets by adding new features and improving user experience. Ethereum Improvement Proposal (EIP) 3074, one of the main recommendations of the update, would allow regular cryptocurrency wallets to operate like smart contracts, including transaction bundling and sponsored transactions.

A number of improvements to cryptocurrency wallets will be brought forth by the Pectra update, giving consumers a more streamlined and effective experience. Users will benefit from transaction bundling—which enables many transactions to be bundled together and processed as a single transaction—with the addition of EIP 3074. This function can lower transaction costs and boost productivity.

The update will also make sponsored transactions possible, enabling users to store assets in wallets that aren't Ethereum-based yet still have access to the Ethereum network's features. With the help of this functionality, users will be able to engage with dApps and take advantage of Ethereum's ecosystem without having to physically own Ether. 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.

 

 

 

ecosystem for entrepreneurs

 

 

 

Thanks for visiting.

New Developments Happening in the Blockchain Space: 22-04-2024

New Developments Happening in the Blockchain Space: 22-04-2024

New Developments Happening in the Blockchain Space 22-04-2024

Image Source: Pixabay


Ethereum’s next hard fork could make lost private keys a thing of the past

The social recovery tool requires users to have first transferred all their assets to an invoker contract, which will perform all future transactions for the user.

Ethereum users may no longer need to worry about losing their seed phrases ever again after the Pectra hard fork — thanks to a new “social recovery” feature, part of the planned Ethereum Improvement Proposal (EIP) 3074 upgrade. 

EIP-3074 was confirmed as a new addition to the Pectra hard fork by Ethereum core developer Tim Beiko in an April 11 X post.

The upgrade will see a “supercharging” of ordinary Ethereum wallets (externally owned accounts) with several new smart contracts capabilities, including the ability to recover assets, Ethereum Foundation researcher “Domothy” explained in a March 25 blog post.

However, to leverage the social recovery tool, users must first have transferred ownership of their assets to an invoker contract via a digital signature, which will perform future transactions and function calls on the user’s behalf. Read More


 

This blockchain platform offers decentralization, security and scalability in tandem

Tackling the long-standing issue, this platform allows for decentralization, security, and scalability to have a place together.

Partisia Blockchain is an L1 with novel zero-knowledge oracle and sharding solutions, sorting out problems plaguing the broader blockchain industry.

Diverse blockchains are plentiful nowadays, and solving the biggest challenges in the blockchain space is more critical than ever. Transitioning blockchains from their isolated nature toward a more interoperable framework presents significant hurdles, necessitating solutions that concurrently address privacy, security and scalability.

Existing blockchains are either fully transparent or fully anonymous, and neither solves the trust problem. The standard transaction output of layer-1 protocols is limited, with the original blockchain processing only seven transactions per second. Moreover, L1s are not designed to be interoperable by themselves.

Developed by a group of well-known scientists with 35 years of research and 15 years of practical implementation experience, Partisia Blockchain is designed to tackle these issues and become a sustainable ecosystem that enhances building opportunities for developers. Read More


 

Here's How Many ‘Notcoin’ Tokens You'll Get for Your In-Game Coins

Notcoin’s conversion rate has been announced ahead of the token launch on The Open Network (TON).

Notcoin’s planned token launch on The Open Network (TON) is just over a week away, and the team behind the viral Telegram-based game has shared some key details about how players’ earned in-game coins will be converted to on-chain tokens.

Players racked up trillions upon trillions of in-game coins by tapping their phone screens, but that huge tally was sure to make trading crypto tokens a bit of a headache. The Notcoin team had previously said that it planned to knock off some zeros during the conversion process to make things more manageable once minted, and now we know how that’s going to work. Read More


 

Coinbase, A16z-Backed Web3 Ad Network Everyworld to Begin Community Airdrop

The Web3 advertising network, Everyworld, backed by Coinbase and the venture capital firm A16z, is set to begin the airdrop of its EVERY token to its community in the week of April 15th. According to the airdrop criteria, users can become eligible to participate by playing baby animal games and earning points. After completing quests, users will need to connect their wallets and submit their respective Know Your Customer (KYC) documentation.

As stated in the Everyworld blog post, users who wish to participate in the airdrop must not be U.S. citizens or residents of 25 other countries, including Australia, China, and Russia. Only 3% of EVERY tokens are set to be airdropped, while the entire Everyworld team and investors’ share is locked until April 5, 2025. Potential sellers who have unlocked tokens include early contributors, market makers, and exchanges. Read More


 

MARKETHIVE THE FUTURE OF ALL MEDIA

Innovations that will change the way we work and interact online. 

The Markethive Social Market Broadcasting Network becomes more prominent daily as the blockchain-driven ecosystem for entrepreneurs with a non-adversarial, bi-partisan free speech ethic and the collaborative culture we rarely see on social media platforms today. Even the newer acclaimed, free speech platforms are partisan to the left or right and deal with de-platforming and boycotts from payment providers.

Unlike the social media giants, which only have one primary news feed algorithmically set by the central authorities, Markethive is integrating four news feeds to accommodate the multi-functional platform within the Markethive ecosystem. 

The individual feeds are General, Video, Blogging, and Content Curation, and they are all accessible from the main page and can be algorithmically set by the individual user. The scope that Markethive has is enormous as it integrates all the vertical systems of the other platforms under one roof. 

Social + Video + Blogging + Marketing + Curation + Broadcasting + Affiliate + Gamification + Cottage Businesses = Markethive: A Powerful Blockchain-driven Ecosystem 

There is nothing out there like Markethive. We are an Inbound Marketing (automated marketing platform) like Marketo, Paragon, and even the wannabee MLM Onpassive platform. We are like Youtube, Instagram, LinkedIn, Twitter, etc., but will be superior to these legacy Web 2 media when we release all the aspects and layout of Markethive 2.0. 

We have a dynamic social media interface and growing community with a strong collaborative ethos, with SaaS and broadcasting capabilities already operational. We are not waiting for the launch to access the services; they are already there for you to use to help you facilitate your business and increase your reach and following. 

Markethive is enhancing and bringing the platform into the future internet with our new technology and interfaces, but still in keeping with the human touch. Read More


 

Why the US Should Reevaluate Its Approach to the Bitcoin Mining Industry

The federal government has made it clear that robust and enforceable regulation is likely coming to the US Bitcoin mining industry, and therefore the community must work together toward reasonable legislation.

The bottom line is simple – Bitcoin mining could one day be a net positive for the environment.

Bitcoin’s proof-of-work process has grown increasingly more energy-efficient as more miners look towards renewable energy sources such as wind, solar and hydropower – not coal or natural gas.

The Bitcoin Mining Council, a bitcoin industry group, has shown that 60% of mining is done with renewables.

Nonetheless, the US EIA requires cryptocurrency miners to share their power usage details to regulate high power usage. There are only a few ways for miners to respond. Read More


 

Ethena (ENA) Labs Integrates with Major Exchanges for Reward Program

Ethena Labs, a synthetic dollar developer, has partnered with major centralized exchange wallets to offer users a 20% reward boost for locking USDe stablecoins for 7 days, converting rewards into ENA tokens.

Recently, Ethena Labs, a company that specialises in the development of synthetic dollars, made an announcement on its integration with major centralized exchange wallets such as Binance, Bybit, OKX, and Bitget. The purpose of this integration is to make it easier for users to participate in Ethena's rewards programme and to increase the platform's popularity among members of the decentralised finance (DeFi) community.

Ethena Labs is providing a reward increase of twenty percent to customers that lock their USDe stablecoins for a period of seven days or more using exchange Web3 wallets. This is done as an incentive for users. At the conclusion of each campaign, these incentives, which are referred to as "Ethena sats," have the potential to be turned into the native ENA token of the system. Through the integration of well-known exchange wallets, Ethena Labs intends to simplify the process by which users may take part in the rewards programme and gain extra advantages. Read More


 

A16z Crypto Introduces Jolt zkVM for Blockchain Scaling

Andreessen Horowitz (A16z) Crypto has introduced Jolt, a zero-knowledge solution that integrates SNARKs, enabling faster SNARK-based Layer 2 solutions and enhanced security for developers.

To tackle the scalability issues that blockchain networks are facing, A16z Crypto, the investment company Andreessen Horowitz's cryptocurrency-focused branch, has unveiled Jolt, a zero-knowledge solution known as zkVM. This creative technique integrates SNARKs (Succinct Non-Interactive Arguments of Knowledge) in an effort to expedite and simplify blockchain scaling procedures.

Jolt is a revolutionary approach to virtual machine construction validated using SNARKs. It offers significant performance advantages over current zkVMs and allows developers to quickly design SNARK-based Layer 2 solutions. By integrating SNARKs, Jolt is able to offload a significant amount of computing effort, expediting the compression and verification of computations without requiring the verifier to carry out the calculations themselves. Read More


 

What Is Berachain? The Latest Ethereum, Solana Challenger to Raise Big Money

Founded by pseudonymous devs with bear-themed names, Berachain is built on Cosmos SDK and aims to be the next big layer-1 chain.

Pseudonymous founders with bear-themed names have raised $100 million in funding for Berachain—a layer-1 blockchain built with Cosmos tech.

Announced Friday, the Series B funding round was co-led by Brevan Howard Digital, an investment management platform, along with crypto-native VC firm, Framework Ventures. Additional backers include Polychain Capital, Samsung Next, Hack VC, and Hashkey Capital, with angel investors such as Polygon co-founder Sandeep Nailwal and Animoca Brands Chairman Yat Siu.

Investors signed a SAFT agreement, which exchanges current funds for future tokens. The move comes just days after Monad Labs announced its own $225 million raise to build a layer-1 chain to rival giants like Ethereum and Solana. 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.

 

 

ecosystem for entrepreneurs

 

 

 

Thanks for visiting.

New Developments Happening in the Blockchain Space: 19-04-2024

New Developments Happening in the Blockchain Space: 19-04-2024

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


 

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.

 

 

 

ecosystem for entrepreneurs

 

 

 

Thanks for visiting.

New Developments Happening in the Blockchain Space: 17-04-2024

New Developments Happening in the Blockchain Space: 17-04-2024

New Developments Happening in the Blockchain Space 17-04-2024

Image Source: Pixabay


Is BitVM the Holy Grail of Bitcoin? It’s Complicated, Developers Say

Trust-minimized Bitcoin bridges using BitVM can work, but it may take a while for users to get their funds out.

A once-vaunted scaling innovation for Bitcoin may be much more limited in practice than its early proponents once claimed, according to developers.

Since its introduction in October, BitVM—described as a “computing paradigm” to express smart contracts on Bitcoin—has been pitched as a potential way to bridge BTC to other blockchains in a truly decentralized manner. If so, it could unlock a world of applications for BTC holders that are currently exclusive to other chains, including privacy, scalability, and dApps.

However, such bridges will introduce a key limitation that critics claim the technology’s supporters have been elusive about. Read More


 

How DePINs are connecting farmers and businesses via blockchain

With more than 160,000 farmers already onboarded in Indonesia and Colombia, Farmsent taps the Peaq blockchain as its layer-1 backbone to revolutionize the global food commodity trade.

In a bid to revolutionize the global food commodity trade and empower farmers, farmer-centric blockchain Farmsent has revealed a new partnership with the layer-1 decentralized physical infrastructure network (DePIN)-focused blockchain, Peaq. 

The collaboration, announced on April 9, marks a step forward in Farmsent’s goal of decentralizing the agricultural supply chain to enhance transparency in the global food trade and build a global Web3 marketplace that connects farmers directly with consumer-facing businesses worldwide.

By leveraging a DePIN of sensors to track product quality and provenance, Farmsent claims it can eliminate centralized intermediaries and reduce costs for all stakeholders, all while ensuring transparency across the supply chain. Read More


 

Decentralized science (DeSci), explained

Decentralized Science (DeSci), within the framework of Web3, is a paradigm shift in scientific research characterized by four fundamental principles: incentives, transparency, decentralization and cooperation. 

The shift from centralized institutions, where a small number of entities control the majority of the power, to distributed networks, where participants share the majority of the authority, is known as decentralization. This change lessens the power of gatekeepers and increases inclusivity by democratizing access to resources and decision-making.

DeSci places a strong emphasis on transparency, supporting free and open access to methodology, data and conclusions. DeSci fosters an environment of openness and accountability by encouraging transparency, which makes scientific research more reproducible and trustworthy. Read More


 

dYdX Community Votes to Stake $61M in DYDX Tokens for Enhanced Security

The dYdX community overwhelmingly approved a proposal to stake 20 million DYDX tokens with Stride to boost the protocol's security as DEX activities rise.

The decentralized exchange (DEX) ecosystem has witnessed a marked increase in trading activity, driving the dYdX community to take strategic measures to enhance platform security and integrity. In a recent governance vote, the community has approved a proposal to stake 20 million DYDX tokens, the platform's native cryptocurrency, through the liquid staking protocol Stride.

The decision was made with an impressive majority, with 91.7% of the votes cast in favour of the staking initiative. The staked tokens, valued at over $61 million at the time of the decision, are intended to bolster the security of the protocol's network. This move comes in response to concerns over the plateauing rate of DYDX being staked to validators, coupled with a substantial uptick in trading activity on dYdX.

The integration with Stride presents a notable advancement for the dYdX community. Liquid staking protocols like Stride enable users to stake their cryptocurrency assets to network validators, who, in turn, help secure the blockchain and process transactions. In exchange, stakers earn rewards, often in the form of interest on their staked amount. Read More


 

How To Increase Your Sphere Of Influence In Markethive 

We have a lot to be grateful for within Markethive. It’s like stepping out of the rat race into an oasis of humanity at its best. As an inbound marketing, business-based blockchain platform with an inherent entrepreneurial spirit, we have all the tools to get our message out to the whole world. We have a social media interface with a collaborative ethos rarely experienced on legacy social media. 

We are starting to see new integrations in the blogging section in preparation for the customized, more intuitive interface and dashboard of Markethive and, of course, the Markethive Wallet that will facilitate the Merchant accounts for members as well as personal transactions, the Vault, etc. 

The new-look Blogcasting Hub is located at the top of all blogs in the system. Blogcasting is a term introduced by Markethive and is an enhanced broadcasting system. In the traditional broadcasting sense, only the people who physically subscribe to your blog or newsletter are usually notified of your updates via email. 

With this blogcasting system, your social networks are informed of your blog as and when you publish them. What this means is the potential reach is into the millions. Read More

ecosystem for entrepreneurs


 

OKX Announces Listing of Tensor (TNSR) for Spot Trading

Leading cryptocurrency exchange OKX has revealed its plans to list Tensor (TNSR) on its spot trading market. The listing will commence on April 8, 2024, with TNSR deposits opening in the morning and spot trading launching in the afternoon. Tensor Protocol, built on the Solana blockchain, serves as a smart contract-based autonomous protocol, facilitating seamless connections between NFT marketplaces and users. Traders are advised to conduct independent research and evaluate risk before engaging in digital asset trading.

OKX, a prominent cryptocurrency exchange, has recently unveiled its decision to include Tensor (TNSR) on its spot trading market, as per an official announcement on April 8, 2024. The exchange has provided a detailed schedule for the TNSR trading activities:

TNSR deposits will be open for users to make at 4:00 am UTC on April 8, 2024.

Tensor Protocol, which operates on the Solana blockchain, is an autonomous protocol based on smart contracts. Its primary objective is to establish seamless connections between NFT marketplaces and their respective users, enabling efficient interaction among collectors, buyers, and sellers. Read More


 

Solana validators pass ‘Timely Vote Credits’ plan to speed up transactions

Solana’s validators voted 98% in favor of a proposal that could speed up transaction confirmation times.

Solana validators have voted in a proposal aimed at decreasing the latency of consensus “votes” — which could speed up transactions on the blockchain. 

The proposal calls for a “Timely Vote Credits” mechanism on Solana and was passed on April 9 with 98% votes in favor.

It would change how validators are incentivized to make “votes” — a key part of Solana’s consensus mechanism that confirms transactions.

According to Solana Labs, up until now, validators are given a flat one vote credit whenever they submit a consensus vote on a block that becomes finalized by the network. 

Over time, validators have found they can maximize earnings by delaying their votes just long enough to ensure they’re voting on the correct fork — at no penalty. Read More


 

Restaking protocol EigenLayer partially launches on Ethereum mainnet

EigenLayer is live on the Ethereum mainnet, but several crucial features are still on the way “later this year.”

Ethereum restaking protocol EigenLayer, which touts over $13 billion in assets, has launched onto the blockchain’s mainnet, but some key features are still to come and will go live sometime in 2024.

EigenLayer announced the launch in an April 9 blog post but added in-protocol payments to operators from actively validated services (AVS), such as apps and cross-chain bridges, are yet to come.

A mechanism called slashing — when validators get their staked crypto taken from them if they don’t do their job correctly — is also still on the way.

Both will come “later this year” after the EigenLayer marketplace has time to “develop and stabilize,” the protocol said, without disclosing a timeline. Read More


 

What is censorship resistance in blockchain technology?

The ability of a system, usually a communication or information distribution network, to resist attempts to censor, alter or stop the flow of information is known as censorship resistance. 

Within the realm of digital technology, it frequently alludes to decentralized systems that function without a central authority or control, such as encrypted communication tools, social networking platforms or cryptocurrency systems. These systems ensure the free flow of information even in the face of censorship attempts by spreading control among numerous participants and encrypting conversations.

Systems that are resistant to censorship are essential for maintaining the right to free speech, providing information access in repressive governments, and encouraging creativity by guarding against arbitrary limitations on expression and communication. In the digital age, they are a potent weapon for advancing democracy, human rights and the free flow of ideas. 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.

 

 

 

ecosystem for entrepreneurs

 

 

 

 

Thanks for visiting.

From Financial To Physical The Next Big Thing In Crypto – DePIN

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 endeavors. 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.


Source: The Messari Report.pdf

The report highlights that DePIN solutions have the advantage of being more efficient, resilient, and high-performing than their centralized counterparts. Additionally, DePIN projects can rapidly innovate and evolve due to community participation, which gives them a unique edge over centralized projects. This efficiency and resilience not only make them attractive to investors but also instill confidence in their long-term viability.


Source: The Messari Report.pdf

The authors posit that DePIN initiatives possess a self-reinforcing mechanism known as a flywheel, whereby their growth and influence fuel further adoption and expansion. As these projects gain traction and popularity among users and service providers, they become even more potent and widespread, creating a positive feedback loop. The authors project that DePIN will substantially impact the global economy, with the potential to augment GDP by a staggering $10 trillion over the next decade. This ambitious projection underscores the transformative potential of these projects.


Source: The Messari Report.pdf

The authors go on to list the industries in which DePIN is currently causing significant changes. These industries encompass various areas such as digital maps in the crypto sector, energy grid management, home internet services, food delivery platforms, ride-sharing services, and, surprisingly, even pet and livestock-related projects. It should be noted that these endeavors are still in their initial phases.

The authors have categorized crypto projects in the DePIN niche into six categories: compute, wireless, energy, AI, services, and sensors. According to their analysis, there are over 650 cryptos across these categories, with a combined market capitalization of over $20 billion.

 
Source: The Messari Report.pdf

The DePIN projects have garnered significant interest from venture capitalists, resulting in substantial capital being invested. To put it in perspective, the top ten DePIN projects alone have collectively secured a significant amount of funding. It's worth noting that many of these projects continue to attract investments even after their initial coin offerings (ICOs) and the launch of their main networks.

It is uncommon for a crypto project to secure substantial funding after its ICO. However, when this does happen, it indicates that investors have tremendous confidence in the project's potential. The DePIN niche has attracted significant post-ICO funding, with numerous projects raising substantial amounts. The top ten DePIN crypto projects in terms of funding raised include Filecoin and Helium, each securing $250 million, RNDR Network with $100 million, Fetch AI with $75 million, Livepeer with $50 million, Really with $35 million, Hivemapper with $25 million, Andrena with $25 million, Braintrust with $25 million, and DIMO with $20 million.

DePIN Blockchains

Intriguingly, most of the nearly thousand crypto projects operating within the DePIN space are opting to deploy on a select few cryptocurrency blockchains. This observation encompasses both layer one and layer two blockchains, with Solana emerging as the most favored layer one choice among DePIN projects.

The authors cite the high speed, affordability, and use of the Rust programming language as reasons for this. Among layer two solutions, Caldera and Eclipse are favored for DePIN projects. These platforms offer flexibility, enabling DePIN projects to blend Ethereum's security with Solana's performance, as seen in the case of Eclipse.

In addition to layer one blockchains that prioritize DePIN, the authors highlight some notable examples. Iotex is one such example, which was already utilized by the US military for health monitoring trials in November 2021. Peaq, on the other hand, is still in the pre-launch phase, but it has already generated significant interest and excitement within the community.

The importance of DePIN adoption cannot be overstated, as it will have a profound impact on both layer one and layer two. The success of DePIN chains and projects hinges on the demand side of the equation, which is carefully examined in the second part of the report.

Unlike many other cryptocurrencies, the authors emphasize that DePIN revenues are fueled by utility rather than speculation. They highlight that participants in DePIN projects typically need to purchase and lock or burn their associated tokens in return for access to the decentralized service or product being provided. This characteristic aligns DePIN projects with traditional crypto coins, which are utilized for various purposes, such as payment of fees and staking.

According to the authors, DePIN projects consistently yield an estimated $15 million in yearly on-chain revenue throughout the bear market. Given the large number of DePIN projects, this amount may seem insignificant. The authors, however, need to offer a clear answer to which DePIN projects are the most profitable, leaving it open to speculation.

However, it is worth mentioning that Livepeer has developed a dashboard named the Web 3 Index, which monitors the earnings of major DePIN projects. Decentralized storage and computing are generating the highest revenue.


Source: The Messari Report.pdf

The authors highlight the evolution of DePIN projects, with many expanding their offerings to become comprehensive platforms providing a variety of decentralized products and services. They cite Filecoin, Helium, RNDR Network, and Bittensor as five notable examples of such platforms, demonstrating the diversification of DePIN projects beyond their initial scope.

DePIN Categories

Compute
In the next section, the authors divide the Compute category into its previously discussed main elements: Storage, Compute, and Retrieval. They mention that specific DePIN projects within the compute category, such as Filecoin and Akash Network, provide a “full stack experience.” 


Source: The Messari Report.pdf

In terms of Storage, it's suggested that DePIN could gain widespread acceptance by utilizing decentralized data storage. While other cryptocurrency projects and protocols have primarily adopted this technology, it's promising to see increased decentralization across the crypto space. This article provides an opportunity to delve deeper into the meaning of decentralization.

The authors highlight that Compute faces the opposite issue compared to storage. While there is an abundance of decentralized data storage but insufficient demand for it, the supply of decentralized computing power is lacking. Yet, there is a surplus of demand for it.

The authors note that decentralizing Retrieval poses a significant challenge, especially in maintaining competitiveness. This is primarily due to the fact that Cloudflare, a centralized retrieval protocol, currently serves 20% of all regular websites at no cost, making it challenging to monetize alternative solutions.

Wireless
This relates to the next DePIN category the authors detailed earlier: Wireless. The growth of the total addressable market for decentralized wireless services has been exponential, and it's no surprise why. The demand for decentralized wireless services is rising as the world becomes increasingly interconnected. This category of DePIN has even earned its own name – DeWi, short for decentralized wireless – highlighting its significance in the industry.

The authors also divide this category into three parts: mobile, fixed internet, and Wi-Fi. Helium, in particular, is gaining significant attention due to its rapid expansion and popularity. As an illustration, Helium has collaborated with T-Mobile to offer affordable mobile plans across the US.


Source: The Messari Report.pdf

Data Sales
The authors decided to examine a new category not initially included in their list but gaining significant interest: Data sales. They point out the importance of data in a world that is becoming more digital. 

That is why they are optimistic about DePIN initiatives such as Hivemapper, which motivates individuals to map their local surroundings, similar to Google Maps but without a central authority. They also highlight other specialized DePIN projects, such as one that monitors noise pollution in a community-driven manner.

This relates to another category detailed earlier: Services. According to their perspective, they classify services into two types: horizontal services, like decentralized marketplaces for freelance work, and vertical services, such as decentralized ride-sharing systems.

The conversation shifts to the emerging DePIN category of  Vertical Ads, but surprisingly, they don't offer much insight into it. Notably, they fail to mention the Brave browser in this context. The situation is similar regarding energy-related DePIN initiatives, as they are also in the early stages of development.

DePIN Growth, Potential 

The report now shifts its attention to the supply side of the equation, specifically examining the remarkable growth and potential of DePIN nodes. The authors begin by presenting an interesting fact: The number of DePIN nodes continues to grow and has now surpassed 600,000. The graph below illustrates that the Wi-Fi map nodes are the most numerous, with more than 200,000 nodes being a part of the DePIN project.


Source: The Messari Report.pdf

The authors note a rapid increase in the quantity of DePIN nodes. This growth is attributed to DePIN initiatives addressing scalability challenges related to the expansion of physical infrastructure. Consequently, DePIN offerings are becoming more affordable and of higher quality. It is worth noting that the development of this physical infrastructure is being encouraged through the distribution of crypto incentives, particularly tokens awarded to individuals contributing to such infrastructure.

The tokenomics of these tokens are integral to the supply-side equation, and the authors recognize three distinct strategies. First, supply-based tokenomics encourages growth. Second, demand-based tokenomics promotes efficiency. Lastly, a combination of supply- and demand-based tokenomics strikes a balance between development and efficiency.

The advantages and disadvantages of the three methods are outlined in the image below. The authors also observe that certain strategies have been more effective for specific DePIN projects. For example, they note that projects that require a lot of hardware benefit the most from supply-based tokenomics, as it essentially rewards contributors with a large number of tokens. On the other hand, DePIN projects that are primarily software-based can expand by offering points that may eventually be converted into tokens.


Source: The Messari Report.pdf

In assessing the value of various DePIN projects, the authors recommend focusing on both the market cap and the fully diluted valuation. Their rationale is that DePIN projects often involve significant investments from venture capitalists, which can influence price movements. 

Essentially, the authors suggest that the demand for specific DePIN offerings may be tempered by the influx of tokens from initial project backers. They imply that lower-quality DePIN projects may encounter challenges and predict that many early investors will opt to sell once their portfolios have appreciated five to tenfold.

Before making any investment decisions, it's crucial to thoroughly investigate cryptocurrencies, especially those in emerging sectors like DePIN. While some experts recommend investing in blockchains that support DePIN projects to mitigate risk, this approach may not yield returns as substantial as identifying and investing in promising DePIN projects early on, with their potential for 100x growth.


Source: The Messari Report.pdf

DePIN 2024 Forecast 

The section of Messari's DePIN report that garnered the most excitement is the predictions for DePIN in 2024. According to the authors, the first theme you need to watch out for is the intersection of DePIN and AI, which is expected to play a crucial role in DePIN's development. DePIN AI has the potential to surpass centralized AI in terms of capabilities and effectiveness within the next one to two years.

The second important topic is the intersection between DePIN and meme coins. While the idea may seem odd, the authors acknowledge this and use the Solana phone Bonk airdrop as an example to show how these two can be paired. This also hints at a future where physical infrastructure is encouraged through the use of meme coins.

The third important aspect to be mindful of is the intersection of DePIN with zero-knowledge technology. By leveraging advanced zero-knowledge technology, DePIN could carry out a form of cyber attack known as a vampire attack on Web 2, which involves taking control of users' content and activity.

The fourth theme to watch is similar to the third but focuses on the intersection between DePIN and gaming. Think of it as GameFi on steroids, where the cryptocurrency elements of gaming are integrated with cutting-edge gaming technology, such as VR headsets, to create a more immersive and interactive experience.

The fifth theme to be mindful of is the intersection between DePIN and privacy, with a particular focus on decentralized virtual private networks (VPNs) as a critical intersection area.

The authors highlight a curious trend in DePIN: The intersection between DePIN and Asia, referring to the continent, is expected to yield unexpected results. They foresee multiple top 10 DePIN projects emerging from this region, with most still in the nascent stages of development.

What It Means For Crypto

The DePIN report's findings have significant implications for the cryptocurrency market. In essence, they suggest that the most successful cryptocurrency narratives and niches during the current bull market will be those that are not financially focused. A previous article on crypto narratives supports this and is reinforced by the fact that some DePIN projects have already acknowledged this trend.

Several crypto initiatives acknowledge that applications related to finance will face increased scrutiny. In contrast, DePIN presents a significantly lower likelihood of antagonizing regulators, and its credibility is evident. The increasing presence of DePIN projects on global app stores and their partnerships with established companies and brands demonstrate that it operates within a safer realm, particularly in regulatory compliance.

Given its immense potential and the nascent stage of most DePIN projects, the DePIN niche is expected to be highly unpredictable from an investment standpoint. While some tokens may experience astronomical growth, others will likely plummet in value or become worthless. Despite the risks, the long-term outlook for DePIN indicates that it will have a lasting impact on the cryptocurrency landscape, contributing to increased adoption and mainstream acceptance.

Previously, the main factors driving cryptocurrency demand were primarily based on speculation. However, real-world adoption may occur with the rise of DePin and other non-financial sectors. This shift could make everyday individuals feel more at ease using and putting money into cryptocurrency, consequently boosting further adoption and investment. Advocates believe that the ultimate goal of cryptocurrency is to decentralize all aspects of life. If that is the desired outcome, we are on the right path.

The reaction of centralized equivalents to the decentralized alternatives of popular products and services is a topic of much speculation. Some anticipate a similar response to DeFi and other disruptors of the traditional financial system, characterized by intense regulatory opposition, mainstream media-fueled FUD, and attempts to suppress their growth. However, DePIN networks have an inherent advantage that will make them more resistant to suppression, as they are generally more decentralized than most cryptocurrencies. This resilience will demonstrate the staying power of crypto.

This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

 


 

Editor and Chief Markethive: Deb Williams. (Australia) I thrive on progress and champion freedom of speech.  I embrace "Change" with a passion, and my purpose in life is to enlighten people to accept and move forward with enthusiasm. Find me at my Markethive Profile Page | My Twitter Account | and my LinkedIn Profile.

 

 

 

 

Thanks for visiting.

New Developments Happening in the Blockchain Space: 15-04-2024

New Developments Happening in the Blockchain Space: 15-04-2024

New Developments Happening in the Blockchain Space 15-04-2024

Image Source: Pixabay


Standardization of Blockchain Data Format Enhances Interoperability Between Chains – Nick Yushkevich

According to Nick Yushkevich, standardization of blockchain data formats is crucial as it enhances the interoperability of distinct protocols and fosters broader adoption of the technology. Yushkevich, the director of product at blockchain infrastructure provider Quicknode, added that such standardization helps to improve communication between systems.

Yushkevich stated that for users, having standardized blockchain data formats allows interaction with the technology “without needing to understand the intricacies of each platform’s data format.” To back his assertions on the standardization of blockchain data format, the Quicknode director revealed that several organizations, including the International Organization for Standardization (ISO), are already establishing standards for the industry.

Looking to the future of blockchain data management, Yushkevich emphasized the importance of developing what he termed intuitive systems and intricate toolkits to navigate the ever-evolving blockchain space. He argued that each would reinforce the other to “unlock the full potential of blockchain data in a secure and accessible manner.” Read More


 

How Should the Bitcoin Halving Impact the Cryptocurrency Market

The Bitcoin halving, a four-year event, reduces the reward for miners, impacting crypto trading, profitability, market dynamics, and price volatility. It can create positive sentiment, attract institutional investors, and benefit various participants in the cryptocurrency ecosystem.

The Bitcoin halving is a significant event that can influence the cryptocurrency market in various ways, impacting supply and demand dynamics, miner profitability, market speculation, and long-term price trends. Traders and investors closely monitor the halving event and its potential impact on the market to make informed decisions and navigate the evolving landscape of the cryptocurrency market.

The Bitcoin halving is a pre-programmed event that occurs approximately every four years and involves cutting the reward miners receive in half. This event controls the supply of new Bitcoins entering the market and is a crucial feature of Bitcoin's monetary policy.

The Bitcoin halving is an event programmed into the Bitcoin protocol, where the rewards for mining new blocks are reduced by approximately half every four years. This event is built into the Bitcoin code to control the issuance of new Bitcoins and maintain the cryptocurrency's scarcity over time. Read More


 

Quant makes blockchain free to all businesses with new pricing plans

Quant, a specialist in blockchain for finance, has launched new pricing plans and functionality aimed at enterprise IT users and developers tasked by their business lines with implementing blockchain technology as part of their organisation’s wider digital asset strategy.

The Overledger blockchain platform updates are designed to empower enterprise project teams, architects and developers from any sector or size to test, build and deploy on the same interoperable distributed ledger technology already trusted by central banks, commercial banks and large corporates to accelerate their digital asset strategy.

For the first time, Overledger is now available via a fully functional, time-unlimited free plan to allow institutions to easily adopt an increasingly popular technology while creating new revenue streams, making complex workflows more efficient, reducing legacy costs and enabling access to new markets and clients. The new plan is the most powerful free blockchain plan available for any enterprise looking to execute their digital asset strategy; it enables IT end-users and developers to fully test their concepts, build business applications, connect their existing systems and tokenise then launch interoperable digital assets of any type. Read More


 

Binance ends support for Bitcoin Ordinals

Binance NFT marketplace will cease supporting trades and deposits of Bitcoin Ordinals on April 18.

Binance is winding down support for Bitcoin nonfungible tokens (NFTs) just a few months after introducing it to its marketplace. 

In a blog post on April 4, Binance announced efforts “to streamline product offerings” on the Binance NFT marketplace. As part of these efforts, the exchange’s marketplace is ceasing support for trades and deposits of Bitcoin Ordinals on April 18.

“Users are advised to withdraw their Bitcoin NFTs from the Binance NFT Marketplace via the Bitcoin network before 2024-05-18 00:00 (UTC).”

In addition, the Binance NFT marketplace will cease to offer airdrops, benefits, and utilities related to Bitcoin NFTs after April 10, 2024. Read More


 

Could Solana Be The Answer To Decentralized Social Market Networks? 

Because of Solana’s POH method, it can horizontally scale the rest of the blockchain, the same way that operating systems and databases scale their software. Each Solana team member has over a decade of experience working in operating systems GPU acceleration. Compilers, networks, etc., giving them extensive and deep experience optimizing software.

Solana is based on scaling software with hardware, with the vision of building the world's largest decentralized, single chart blockchain. The only way to do that is by scaling all the core technologies with hardware.

Scaling the Blockchain in this way delivers a cheap cryptographic base for financial transfers and, more importantly, outside of finance. It is a way for Solana to build a better web experience for social media communities regarding micropayments. 

Also, advertising-based revenues can be relinquished for social networks, leading communities to generate value by self-expression, creating their own content, and growing the network and the connections within the community, creating a better world for all. 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


 

What are generative art NFTs?

Generative art NFTs are digital artworks created using algorithms and minted as unique tokens on the blockchain.

Generative art, created via autonomous systems, generates unique pieces of art by following a set of programmed rules or instructions. Once created, these artworks are minted as nonfungible tokens (NFTs) on a blockchain, providing a secure, verifiable record of ownership and authenticity.

The emergence of generative art within the digital age represents a significant shift in artistic creation and distribution. Artists now leverage sophisticated computational processes and programming languages, such as Processing, p5.js and Python, to generate art that can evolve over time or respond to various external inputs. This approach to art creation expands the boundaries of traditional art by introducing elements of randomness, complexity and interactivity, allowing for an endless variety of outcomes and making each piece of generative art truly unique.

The integration of NFTs with art has revolutionized the way digital artworks are authenticated, owned and traded. The use of blockchain technology to mint NFTs has significant implications for artists and collectors alike, offering a new model for monetizing digital creations and investing in digital art. The secure and transparent nature of blockchain ensures the provenance of each piece, providing a level of authenticity and scarcity previously difficult to achieve in the digital realm. Read More


 

What are crypto exit scams, and how to protect against them?

Don’t fall for crypto exit scams! Learn what they are, the red flags to watch for, and how to protect your investments.

Understanding the characteristics of cryptocurrency exit scams and putting preventative measures in place is essential in the volatile and frequently opaque world of cryptocurrency investing. By analyzing how these frauds work and offering a range of strong safeguards, Cointelegraph provides readers with the knowledge and resources they need to protect their investments in the quickly changing cryptocurrency market.

With the ever-changing landscape of cryptocurrencies, exit scams have become a serious menace that takes advantage of the industry’s inventiveness for malicious purposes. Scams that cause project creators to vanish suddenly after receiving large sums of money harm the credibility of the digital currency industry.

Hackers use blockchain technology’s anonymity to their advantage by luring unsuspecting investors with promises of huge profits and groundbreaking breakthroughs. After receiving investor money, these con artists disappear, leaving a legacy of depleted trust and financial disaster in their wake. Understanding the mechanisms, incentives and expressions of cryptocurrency exit scams is imperative for individuals traversing this contemporary financial landscape. Read More


 

Can blockchain revolutionize digital securities management for stock exchanges?

Cointelegraph spoke with the Sui network to better understand how blockchain is playing a part in enhancing security and efficiency for the Athens Stock Exchange.

The Athens Stock Exchange (ATHEX) is positioning itself to become a trailblazer in the financial world as it plans to integrate blockchain technology into its Electronic Book Building (EBB) system. 

ATHEX announced the move in early March in collaboration with the Sui blockchain ecosystem to have securities minted as digital certificates for enhanced security, efficiency and transparency for its users.

The primary issuance process traditionally involves separate confirmations for securities allocation and settlement. However, integrating blockchain simplifies this by merging them into a single, streamlined confirmation.

This could translate to faster and more efficient transactions for everyone involved — the exchange, its members, investors and, most, importantly, issuers raising capital.

Cointelegraph spoke with a representative from Sui to better understand its collaboration with ATHEX and its blockchain being used to level up operations in a traditional finance (TradFi) setting. 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.

 

 

ecosystem for entrepreneurs

 

 

 

Thanks for visiting.