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

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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.

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

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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.

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

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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.

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

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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

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.

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

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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.

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New Developments Happening in the Blockchain Space: 12-04-2024

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Where Is Your Seed Phrase

Every new owner of a cryptocurrency wallet goes through the process of recording a combination of words – a seed phrase. This phrase serves as the key to restoring access to the wallet if you ever fail to log in.

A seed phrase is never a logical sentence or a quote – it’s a string of 12 to 24 random words. They are selected out of a 2,048-word dictionary, and each one corresponds to a number.

The seed phrase is used to generate public-private key pairs with BIP32 or BIP44 algorithms, and these pairs are stored in your device’s memory.

During registration, you always see a reminder that the seed phrase should be written down and kept somewhere safe.

If anything happens, this is the only way to restore your wallet and regain access to your funds. Read More

Restaking could introduce ‘hidden risks’ to Ethereum — Coinbase

Ethereum restaking will form a “core part” of the network in the future — but there are still risks that come along with the new yield-bearing mechanism, say Coinbase analysts.

Ethereum restaking could form the “bedrock” for a wide range of new decentralized applications on the blockchain, but it could also introduce several new hidden risks, says Coinbase. 

In an April 2 research report, Coinbase analysts David Han and David Duong noted several risks with restaking and the issuance of so-called liquid restaking tokens (LRTs).

Ethereum restaking protocol Eigenlayer allows users to earn extra rewards — LRTs — by securing actively validated services (AVS) by staking derivative tokens, which are given to those who have already staked Ether through liquid staking protocols such as Lido (LDO).

When the Eigenlayer protocol is first launched, the analysts explained the restaking process should be “fairly straightforward,” but a feature of EigenLayer is that staked tokens committed to one AVS can again be staked to another AVS’. Read More

Preserving art in the age of blockchain: How technology is saving fragile art

Merging art and technology transforms art preservation and accessibility, enabling digital and traditional art forms to coexist and thrive in an interactive landscape.

Building on the technological advancements in art preservation, nonfungible tokens (NFTs) and digital collectibles emerge as potent tools for safeguarding artistic expressions. By tokenizing artworks on the blockchain, NFTs ensure that digital creations are preserved in a secure and immutable ledger and retain their uniqueness over time.

NFTs facilitate a broader archival process, enabling the preservation of digital art and multimedia experiences that define contemporary culture. Furthermore, NFTs complement technological efforts in preserving art and redefine the scope of what can be preserved, ensuring that today’s digital art remains accessible. Read More

Polygon CEO: L3s Might Represent a Threat to Ethereum's Security

Marc Boiron, CEO of Polygon, an Ethereum-compatible sidechain scaling solution, gave his take on the rise of Layer 3 (L3) scaling structures in the Ethereum ecosystem. According to Boiron, L3s only take value away from Ethereum’s chain and concentrate it in their corresponding base L2, creating a security risk for the network.

Polygon CEO Criticizes Rise of L3 Ethereum Scaling Solutions:

Marc Boiron, CEO of Polygon, has warned about the effect that Layer 3 (L3) structures might have on the Ethereum ecosystem. On social media, Boiron referred to L3s, scaling solutions that pass all of their data and transactions in a single Ethereum rollup, as elements that might endanger the future of the Ethereum blockchain, siphoning value away from the base layer.

Boiron stated:

I’ll say the quiet part out loud: L3s exist only to take value away from Ethereum and onto the L2s on which the L3s are built.

Furthermore, Boiron specified that L3s were not needed for scaling Ethereum, and detailed that Polygon Labs has no intention of bringing any L3 to the market. Read More

From ARPANET To INTERNET & BEYOND

Markethive Leading The Way In Web 3 Social & Market Media

Web 3.0 is the next generation of the internet, which people envision will be more decentralized and permissionless. One that's built on decentralized protocols, where users help with content creation and the governance of the web itself. They also have the ability to own a part of the network, so you can think of it as a Read-Write-Own Internet. 

There are already several technologies that could serve as the backbone for a Web 3 world. Most point to blockchains like Elrond, Cardano, or Ethereum, for example, but other distributed technologies like IPFS can also be used to decentralize networks. 

Thousands of dApps (decentralized applications) are already being built in the Web 3 environment. These often include native tokens to add value to the application to those who hold the tokens. These native crypto assets allow those who participate in the network to share in the value generated from it. 

Web 3 promises a decentralized alternative where we are all users, owners, and developers. This quote from Fabric Ventures sums it up beautifully, 

“Web 3.0 enables a future where distributed users and machines are able to interact with data, value, and other counterparties via a substrate of peer-to-peer networks without the need for third parties—the result: a composable human-centric & privacy-preserving computing fabric for the next wave of the web.” Read More

Coinbase partners with Lightspark for Bitcoin Lightning payments

Lightspark says the integration on Coinbase will offload more transaction activity away from Bitcoin’s base layer, where fees have increased considerably over the last 12 months.

Coinbase is one step closer to integrating Bitcoin Lightning on its platform amid a new partnership with Lightspark, an enterprise-focused Lightning solution led by former PayPal president David Marcus.

In an April 4 X post, Coinbase’s CEO Brian Armstrong said the integration of the Bitcoin layer-2 network will happen “soon” — which will allow its 108 million user base to leverage potentially faster and cheaper Bitcoin transactions.

“Lighting up all Coinbase touchpoints with Lightning” will offload more transaction activity to Bitcoin’s second layer, which will combat the recent rise in fees on Bitcoin’s base layer, Lightspark explained in an April 3 post.

Armstrong confirmed that Coinbase would integrate Bitcoin Lightning last September but didn’t provide further details on how or when that would occur. Read More

Bank of England and FCA launch Digital Securities Sandbox for DLT testing

The Bank of England and the U.K.’s financial regulator, the Financial Conduct Authority, aim for the inaugural group of applicants to join the Digital Securities Sandbox by autumn 2024.

The Bank of England (BoE) and the United Kingdom’s Financial Conduct Authority (FCA) have started a consultation on the draft guidance for their Digital Securities Sandbox (DSS), which is designed to allow participants to test distributed ledger technology (DLT) for trading and settlement of digital securities such as shares and bonds.

According to a joint consultation and draft guidance released on Wednesday, April 3, the sandbox will last five years and could lead to a new regulatory regime for securities settlement.

Successful applicants using the sandbox will be able to provide securities depository and settlement services, as well as operate a trading venue under modified regulations. Read More

Ethereum layer 2s to hit $1T market cap by 2030: VanEck

VanEck’s analysts were bearish on L2 tokens due to competition, but envisioned a future with thousands of use-specific chains.

Ethereum’s layer 2 scaling networks will hit a $1 trillion market capitalization in six years and will be made up of thousands of use case-specific chains, according to analysts from investment manager VanEck.

Layer-2 blockchains are set to capitalize on Ethereum’s “primary challenge” — its “limited capacity to process, store, and compute data,” VanEck’s senior digital assets investment analyst Patrick Bush and digital assets research head Matthew Sigel said in an April 3 report.

Busha and Sigel reached their $1 trillion market cap prediction by estimating Ethereum would take up 60% of the market share across all public blockchains and then estimating the volume of assets within the Ethereum ecosystem.

There are currently 46 Ethereum L2s with $39 billion total value locked, the largest being Arbirtum with $18 billion, according to L2BEAT. Read More

Dmail co-founder says email must be decentralized and protect data sovereignty

Dmail co-founder Daniel James explains why email needs to be decentralized.

Spam, phishing emails, and the risk of having one’s personal data either deleted or sold are common concerns shared among email users, and James says that “blockchain really enhances security” as “there’s no central point of failure that hackers can target.”

James added that Dmail prioritizes privacy by encrypting every email, which makes it “harder for attackers to compromise email accounts and intercept communications.” The decentralized nature of the service also gives users data sovereignty.

“It’s a battle world. It’s a more moral world where you are not the product. You are actually gaining something from this platform. And that’s really what attracts most people into Web3 initially, is that you do have data sovereignty. For me, the foray into Web3 was mostly about Big Tech essentially becoming the arbiters of truth and really overstepping the mark, getting political and censoring certain things. To me, that’s not the job for Big Tech, regardless of your political affiliation. That should not be happening.” 

James explained that “email solves these kinds of problems, but it also brings something completely different to the table. It brings the Web3, the blockchain layer, and the possibilities are endless.” Read More

Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.

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New Developments Happening in the Blockchain Space: 10-04-2024

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Bitcoin Runes Coming to Magic Eden After Ordinals Bet Pays Off

The upcoming Runes fungible token standard will “supercharge the Bitcoin ecosystem,” a Magic Eden co-founder told Decrypt.

Cross-chain NFT marketplace Magic Eden, which recently jumped to the top of the pack amid growing interest in Bitcoin Ordinals, announced Friday that it plans to support the upcoming Runes fungible token standard on Bitcoin.

“Ordinals, Rewards, Runes. The Future of BTC is on Magic Eden,” the marketplace tweeted along with a teaser video.

The Rune protocol is set to launch on Bitcoin’s mainnet following the halving, which is expected to take place on April 20. The halving is the quadrennial event baked into the Bitcoin protocol that cuts in half the BTC miners receive for supporting the network. The move slows the expanding supply of Bitcoin, and typically also boosts the price of the asset.

Runes is a fungible token standard from Casey Rodarmor, the Bitcoin developer who created the Ordinals protocol for inscribing media on the Bitcoin blockchain. Read More

What are smart contract wallets?

Smart contract wallets are self-executing, scripted agreements that automatically enforce the terms of the agreement, providing users with more power and security than traditional wallets.

Smart contract wallets are considered decentralized applications (DApps) as they are built on a blockchain and enable users to manage their digital assets using smart contract technology. These wallets provide users a means to keep crypto assets in self-custody. Moreover, they facilitate functions like bundled transactions, the ability to pay gas fees in a different token, customizable recovery options and more.

Advantages smart contract wallets bring in include: Read More

Defragmenting DeFi: How users can manage their DeFi portfolio

Velvet Capital aims to become the operating system for DeFi asset management. Here’s how it aims to simplify DeFi for everyone.

Decentralized finance (DeFi), where users retain custody of their funds, has become a safer alternative for crypto investment after the public trust has declined in centralized exchanges (CEXs) due to several high-profile collapses.

Despite DeFi’s promise to mitigate the risks associated with CEXs, its highly fragmented nature hinders widespread adoption. With over 3,000 protocols across 227 chains, the DeFi ecosystem presents a daunting landscape for even the most experienced investors, making it challenging to set up comprehensive strategies without significant investment in time and development resources.

Thankfully, DeFi offers innovation faster than any other industry in recent history while becoming simpler, quicker and cheaper with each new step. The latest DeFi innovation has arrived in the form of Velvet Capital, a DeFi asset management platform that aims to simplify managing DeFi portfolio by allowing anyone to set up advanced DeFi strategies in minutes. Read More

Bitcoin Runes Launch at the Halving: Here's Everything You Need to Know

The creator of Bitcoin’s Ordinals protocol is debuting a new fungible token standard to rival BRC-20. Here’s everything we know about Runes.

Bitcoin is front and center again, and orange coin lovers everywhere have plenty to be excited about: new all-time high prices, the upcoming halving, rising demand for Ordinals—and soon, something totally new called Runes.

And while Runes won’t hit Bitcoin until the halving—currently set for April 20 as of this writing—when the supply of newly minted BTC is once again cut in half by slashing miner rewards, the project is already getting a lot of hype and attention. Here’s what you need to know. Read More

The Central Hub Of The Markethive Economy – The Wallet

What Does The Wallet Do?  What Does It Mean For You? 

The launch of the Markethive wallet is approaching, so it’s time to start beating the proverbial drum. It is the start of an exciting time with the advent of many integrations to follow the release of the wallet that will bring Markethive into prominence as an unprecedented platform. The combination of inbound marketing, social media, digital broadcasting, video, conference rooms, e-commerce, gamification, etc. 

Markethive is a blockchain-driven crypto economy, all-inclusive, with a distributed database system required for this decentralized, monolithic global project. We’re almost there with the release of the wallet that will initiate entrepreneurial sovereignty and open the floodgates of this divine enterprise with its plethora of systems and services, including the new interface and dashboard. 

We now have a complete working wallet with the Solana Network, and we also have a fully functional crypto merchant account. The Markethive wallet is being polished with the finishing touches, keeping mindful that it’s not just a simple wallet but a comprehensive, dynamic engine centralized for you that powers your platform and business.

Markethive is fundamentally a sophisticated inbound marketing and storefront platform, integrated with a social network, and not just another social media platform you see popping up to counter the media tech giants we’ve come to know as oppressive, censoring you and using your personal data for their own gain. Read More

What are Bitcoin whales and how to spot them?

Follow Bitcoin whales’ trails: track their tactics, from manipulation to stop-loss hunting, and explore their market impact for navigating crypto trading.

Bitcoin whales are people or organizations with substantial Bitcoin holdings who are capable of influencing the market through their trading tactics.

The term “Bitcoin whale” is colloquially used to denote a holder with a significant stake compared to smaller participants, often referred to as “smaller fish” within the market. The owner of the wallet or cluster of wallets controlled by one entity may be an individual or a group that is pooling funds to make large investments.

Their vast holdings have been accumulated through mining, early investments and other methods. Whales have access to substantial Bitcoin holdings, which gives them the power to manipulate the market by making significant asset purchases or sales that result in price fluctuations. The abundance of whales and extreme volatility are frequently linked in the cryptocurrency space. Read More

What is the Interledger Protocol, and how does it work?

The Interledger protocol (ILP) facilitates payments across two or more payment networks, aiming to enable direct transactions while also allowing for the involvement of intermediaries where necessary. It is a payment protocol fostering interoperability among diverse financial systems.

By seamlessly connecting ledgers from several institutions, the open-source Interledger protocol aims to streamline inter-bank transactions, reducing processing times and costs for participants. Like the internet routes information packets, Interledger operates as a network of computers that enables the transfer of value across separate payment networks.

Within the Interledger network, nodes fulfil various roles: senders initiate value transfers, connectors serve as bridges between senders and receivers, facilitating currency conversion and forwarding value packets, and receivers accept the transferred value. While Ripple’s XRP (XRP) token can be used for settlements within the protocol, other settlement options are also available. Read More

Phishing scam thefts on Base are up 1,900% from January — Scam Sniffer

The near 1,900% surge in phishing scams on Base since January comes amid an explosion in total value locked on the Ethereum layer-2 chain.

Ethereum layer 2 Base has seen an 18-fold increase in cryptocurrency funds stolen from phishing scams in March compared to January figures, recent data shows.

Approximately $3.35 million was stolen from phishing scammers on Base in March alone, according to blockchain anti-scam platform Scam Sniffer.

It marks a 334% month-on-month increase from February’s tally of $773,900 and a massive 1,880% spike compared to January, when Base only lost $169,000 from phishing scams, according to monthly Dune Analytics data compiled by Scam Sniffer.

Binance’s BNB Smart Chain observed a similar surge in phishing scams in March, Scam Sniffer noted in an April 2 X post.

Approximately $71.5 million was lost to phishing scammers across all chains from 77,529 victims — beating out January and February’s tallies of $58.3 million and $46.8 million, respectively. Read More

Tether completes ‘gold standard’ security audit

The independent audit represents the highest level of security compliance an organization can demonstrate.

Tether has announced the successful completion of a System and Organization Controls 2 (SOC) audit — the highest level of security compliance that an organization can demonstrate. The audit was developed by the American Institute of Certified Accountants (AICPA).

The audit underscored Tether’s commitment to offering a secure user experience, according to Paolo Ardoino, the CEO of Tether, who wrote in an April 1 announcement:

“This compliance measure assures our customers that their assets and data are managed in an environment meeting the highest standards for data protection and information security. This independent validation of security controls is vital for Tether, demonstrating our commitment to being the world’s most trusted and compliant stablecoin.”

Tether has committed to undergoing annual SOC 2 audits to ensure its security practices remain consistent with the standards. Read More

Play-to-earn is out: ‘Challenge and Earn’ is the next major trend in Web3 gaming

Skill-based Web3 gaming promises a new era for gamers and blockchain enthusiasts. Here’s how the shift to the challenge-and-earn model seeks to change the GameFi landscape.

As Web3 space continues to evolve and expand, gaming has become a natural addition to what blockchain and its user-centric approach can improve. The gaming world met with decentralized finance (DeFi), and a new term — GameFi — was born.

Web3 gaming has become an instant hit because it offers players an opportunity to earn real-world value through digital assets like crypto and nonfungible tokens (NFTs) on top of the usual thrill of gameplay. Blockchain games have remained the top reason people use decentralized apps (DApps), accounting for over one-third of on-chain activity and attracting over 1.1 million daily users.

Initially celebrated for its play-to-earn (P2E) model, Web3 gaming promised a new era where gamers could earn substantial rewards for their time and skill.

Yet, the model faced significant hurdles, notably the inflationary pressure on token prices fueled by an oversupply of offerings and the volatile nature of crypto markets. This led to a highly competitive environment, with crypto-driven promotions often resulting in the rapid inflation and subsequent bust of token values, challenging the sustainability and attractiveness of Web3 games. Read More

Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.

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New Developments Happening in the Blockchain Space: 08-04-2024

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THORChain hits $10B monthly volume as Bitcoin maxis debate safety

The decentralized liquidity protocol said March brought record monthly trading volume, while some Bitcoin maxis still have reservations about borrowing on the protocol.

The decentralized liquidity protocol THORChain has notched more than $10 billion in total monthly trading volume for the first time in history. However, Bitcoin maximalists are divided on whether the platform offers enough safety to potential borrowers. 

In a March 27 post to X, the official social media account for THORChain announced the milestone, with Runscan data showing that the protocol has since notched $10.26 billion this month.

In a series of follow-up comments and posts, a debate between Bitcoin maximalists broke out over THORChain’s security and potential pitfalls for Bitcoiners looking to take out interest-free loans against their BTC using the platform. Read More

Ethereum ‘BlobScriptions’ lift off and it’s taking Blob fees with it

A new method for inscribing data on Ethereum blobs is wreaking havoc on fees for the data-saving feature.

A viral new method for minting data to the Ethereum blockchain dubbed “BlobScriptions” is pushing up the price of Blob fees — the amount required for a blob to be included in an Ethereum block. 

BlobScriptions were introduced on March 27 by a protocol called Ethscriptions, allowing users to inscribe data — from JPEGs to text — directly onto “blobs,” which were introduced to the Ethereum network as part of the network’s Dencun upgrade on March 13.

Less than five hours after the introduction of BlobScriptions, the gas fees for Blobs soared as high as 585 gwei — equivalent to roughly $18, according to data from Ultrasound.money.

This was a far cry from the average gas price for minting data on a blob before BlobScriptions, which averaged around one wei, equivalent to a tiny fraction of $0.01. Read More

UK Regulators Release Guidance for ‘Finfluencers’ and Memes Promoting Financial Products

Regulators in the United Kingdom are releasing new regulations for influencers and memes that promote financial products.

In a new press release, the UK’s Financial Conduct Authority (FCA) is giving out new guidelines on how social media can be used to promote financial products, including fintech and digital assets, as a means of combating fraud.

According to the FCA, in the future, influencers may not be allowed to promote financial products – including through memes – without the approval of an FCA-authorized person.

“The FCA has set out how adverts across social media channels must be fair, clear and not misleading, meaning they must have balance and carry the right risk warnings, so people can make well-informed financial decisions. Social media has become a central part of firms’ marketing strategies.

Firms are on the hook for all their promotions, and the FCA has warned they need to ensure influencers they work with communicate to their followers in the right way.

And influencers are reminded that promoting a financial product without approval from an FCA-authorized person with the right permission could be a criminal offense.” Read More

Crypto Coalition Advocates for Bitcoin Emoji Adoption

Over 20 leading crypto organizations band together to petition for an official Bitcoin emoji, emphasizing its cultural impact on society.

More than 20 influential crypto organizations have coalesced to champion a novel cause in the digital space – the introduction of a Bitcoin emoji. Their mission is to embed the emblem of Bitcoin into the lexicon of digital communication, proposing its existence on keyboards worldwide.

The push for a Bitcoin emoji is spearheaded by Nexo, a prominent crypto lender, and has garnered the support of a spectrum of industry stalwarts including BTC Inc, Bitget, and Chainalysis. The campaign, termed the 'Bitcoin Deserves an Emoji' movement, marks a significant stride toward the mainstream acknowledgment of Bitcoin's triple identity as a currency, technology, and cultural phenomenon.

The movement is currently unfolding through a 50-day petition hosted on Change.org, which will segue into a formal proposal to the Unicode Consortium within their 2024 submission period. This endeavour, previously rejected in 2020, underscores blockchain's omnipresence in everyday life and symbolizes the community's undeterred resolve. Read More

Markethive's HVC Token Poised for Crypto Market Triumph

As the crypto industry gears up for the next bull run, Markethive isn't just sitting on the sidelines – it's rolling up its sleeves and diving into the action, poised to shine on the high-performance stage of the Solana blockchain. At the heart of this venture is Markethive's native cryptocurrency, Hivecoin (HVC), a key player ready to unlock the industry's full potential. Solana's reputation for speed and scalability provides the perfect playground for Markethive's ambitious goals.

Cryptocurrency and blockchain have shaken the business world, creating a new era of possibilities. And Markethive? Well, it's not trailing behind; in fact, it's leading the charge. This unique platform, grounded in blockchain technology, caters to entrepreneurs, marketers, and business owners, offering them a suite of tools and services to navigate this brave new world.

Now, to make things even more exciting, Markethive has introduced the HVC into the mix. This token isn't just any token; it's intricately woven into the fabric of Markethive's ecosystem. And guess what? It's riding the Solana blockchain wave. Why does that matter? Buckle up because we're about to dive into the juicy details of why this move is a game-changer.

Ready to uncover the magic behind Markethive's strategic choice? Let's jump into the discussion and explore the manifold benefits of having the HVC token on the Solana blockchain. Read More

Fantom (FTM) Foundation CEO Reveals Exciting Plans for Sonic's Launch and Future Development

Michael Kong, CEO of Fantom Foundation, has unveiled the highly anticipated launch of Sonic, a groundbreaking blockchain technology that promises unparalleled scalability and security. With plans to create a shared sequencer for L1 and L2 chains and introduce simplified staking and liquid staking support, the Fantom team is poised to revolutionize the world of blockchain. Stay tuned for more exciting updates and partnerships in the coming weeks.

Michael Kong, CEO of Fantom Foundation, has revealed the exciting launch plans and future development of Sonic, a revolutionary blockchain technology. Kong highlighted the significant advancements made since the debut of the Opera network in 2019, which laid the groundwork for Sonic's creation.

The Opera network, based on concepts studied by Andre Cronje, offered improved scalability and time to finality compared to Ethereum at the time. However, as the network gained popularity, it faced challenges during times of high demand, leading to congestion and a deteriorating user experience. Read More

Coppola-Backed Decentralized Pictures to Launch DCP+ Film Streaming Service

The in-app streaming service will enable DCP creators to distribute their content fairly, with on-chain revenue distribution.

Blockchain-based film funding platform Decentralized Pictures is gearing up to launch its own in-app streaming service, DCP+, with a beta release "in the next month or so."

"With the power that is in the hands of some of the distribution channels these days, it's very important to give folks a way to showcase their work to the world and monetize it in a fair and transparent way," Decentralized Pictures co-founder Leo Matchett told Decrypt.

He explained that the 501(c)(3) non-profit's streaming offering would enable filmmakers to "distribute their content 100% free, on-chain and auditable and immutable."

DCP+ will be integrated into Decentralized Pictures' platform, with users able to rent films using its FILMCredits token—which can either be purchased with fiat or earned through community participation, such as reviewing scripts and trailers. Read More

Prisma Finance $11.6M hacker claims it was a ‘whitehat rescue’

The hacker’s on-chain message came approximately six hours after the hack occurred. However, blockchain security firms noted the hacker had also started swapping the stolen funds for Ether.

The hacker behind the $11.6 million exploit of decentralized finance (DeFi) protocol Prisma Finance is claiming it was a “whitehat rescue” and is enquiring about returning the funds, according to on-chain messages.

“Hi, this is a whitehat rescue, who can I contact to refund,” the exploiter said on March 28, around 6 hours after the attack. The message came from the address “0x2d4…7507a” — which was earlier identified as being one of three addresses linked to the attack.

A white hat hacker refers to a person who uses their hacking ability to find security vulnerabilities in software code. In the broader cybersecurity world, these security experts often notify the creator of the attack vector rather than exploiting it themselves. Read More

Web3 dev platform Mirror World launches first gaming rollup chain on Solana

The software development kit allows Solana games to settle "millions of requests" during game sessions and settle them back to Solana L1 for faster processing.

Web3 application development platform Mirror World is launching the first gaming rollup on Solana.

According to the March 29 announcement, the novel Solana Virtual Machine (SVM) computation engine, dubbed “Sonic,” will allow developers to deploy game engines or virtual machines of their choice on Solana via its software development kit (SDK) and power in-app transactions. At the same time, HyperGrid, the core technology of the Sonic SVM developed by Mirror World, enables gaming platforms to create their own on-ramp and cross-chain decentralized exchange (DEX) aggregators for Solana in-game interactions. 

Currently, the Mirror World SDK has been deployed to 50 gaming clients as initial distribution nodes. Three games, Mahjong Meta, Matr1x Fire and Seraph/ActozSoft, with over $30 million raised in their series rounds, have seen more than 200,000 traffic and transaction engagements generated during their gaming sessions after incorporating the Mirror World SDK. “Sonic provides natively integrated tools for payment & settlement infrastructure, as well as user engagement tools necessary to build a successful Web3 game,” Mirror World wrote. Read More

Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.

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