Day: September 1, 2022

L2 Scaling Solution Arbitrum Deploys Nitro Rollup Stack Migration – Technology Bitcoin News

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The layer two (L2) scaling solution Arbitrum revealed on Wednesday that the team has implemented the project’s Nitro rollup stack migration. Earlier this month, Arbitrum developers noted that the Nitro migration would reduce network fees and improve throughput. Arbitrum Developers Implement Nitro Update The Offchain Labs-managed L2 Ethereum scaling solution Arbitrum, told fellow Arbinauts (the project’s users) on Wednesday that the development team has implemented the Nitro upgrade. “All Arbinauts, please prepare for liftoff,” the team explained. Moreover, the official Arbitrum Twitter account wrote that the “migration has officially begun,…

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Ticketmaster Partners with Flow Blockchain to Mint Live Event Ticket NFTs

American ticketing company Ticketmaster announced that it will enhance the fan event experience through digital collectable NFTs, and will mint ticket NFTs for selected events on Dapper Labs’ Flow blockchain, providing users with a new experience. Ticketmaster will issue NFTs for event organizers to provide fans with live events before, during and after the event. At the same time, fans can share or activate online through digital souvenirs to receive unique loyalty rewards, VIP participation opportunities and more. Ticketmaster previously partnered with Flow to distribute more than 70,000 one-to-one virtual commemorative ticket…

Crypto Lender Celsius Faces Another Group of Customers Who Want Their Money Back

According to the filing, the group’s cryptocurrency is deposited in custodial accounts rather than the yield-generating “Earn” product. This means Celsius should have held the funds in segregated storage on behalf of the group’s members, who retain title to the funds, according to the filing. Because of this, the filing claims, the customers should be able to receive their funds back separately from the outcome of the bankruptcy proceedings. Source

NFT micro-philanthropy gives a new voice to the opera

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The music industry has been a major adopter of Web3 integration, with use cases ranging from song rights, blockchain-based streaming and new forms of digital releases.  Genres like pop, EDM and hip hop have represented nonfungible tokens (NFTs) in the music industry so far. However, classical music, and specifically opera, just found its entrance. Living Opera, a Web3 community that combines classical music with blockchain innovation, is turning to the emerging technology to give a new voice to the prestigious art and the artists who perform it. Soula Parassidis, CEO…

OpenSea says marketplace won’t support forked NFTs post Merge

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As the date for the Ethereum Merge approaches, nonfungible token (NFT) marketplace OpenSea has announced that it will focus on supporting only the NFTs that are on the upgraded proof-of-stake (PoS) blockchain.  In an announcement on Twitter, the NFT marketplace said that while their team is not speculating on any potential forks, it clarified that if there are forked NFTs, they will not reflect on OpenSea as the platform will only support the upgraded chain.  The NFT marketplace also highlighted that its team is preparing the NFT trading platform for…

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Ethereum Merge and the hefty tax bill you could be in for

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Ethereum (ETH) hodlers that don’t play their cards right following the Ethereum Merge may be in for a hefty bill come tax time, according to tax experts.  Around Sept.15, the Ethereum blockchain is set to transition from its current proof-of-work (PoW) consensus mechanism to proof-of-stake (PoS), aimed at improving the network’s impact on the environment. There is a chance that The Merge will result in a contentious hard fork, which will cause ETH holders to receive duplicate units of hard-forked Ethereum tokens, similar to what happened when the Ethereum and…

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