Month: February 2023

Coinbase new blockchain seen as ‘massive confidence vote’ for Ethereum

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The Ethereum community appears to have taken a bullish view of Coinbase’s newly announced layer-2 network, Base, which has been described as a “massive confidence vote” and a “watershed moment” for the blockchain network.  Secured on Ethereum and powered by layer-2 network Optimism, Base aims to eventually become a network for building decentralized applications (DApps) on the blockchain. The layer-2 network is currently in its testnet phase, according to Coinbase CEO Brian Armstrong. 0/ Hello world. Meet Base, an Ethereum L2 that offers a secure, low-cost, developer-friendly way for anyone,…

Crypto Exchange Coinbase Launches Ethereum L2 Scaling Network Called Base – Bitcoin News

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The cryptocurrency exchange Coinbase has announced the deployment of Base, an Ethereum layer two (L2) scaling network, after developers launched the Base testnet on Thursday. The company said it is incubating Base within Coinbase and that the L2 chain will progressively decentralize over time. Coinbase L2 Scaling Platform Aims to Help Scale the Crypto Economy Coinbase is joining the competition of Ethereum L2 scaling projects, such as Polygon, Arbitrum, Optimism, Loopring, Starknet, and others, by launching an L2 called Base. The company announced the launch of the Base testnet on…

Block’s Q4 Bitcoin revenue down 7% on crypto price decline

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Jack Dorsey’s payment company Block Inc. reported $1.83 billion of Bitcoin (BTC) revenue from its Cash App business unit in the fourth quarter, representing a 7% fall from the same time last year. In its Q4 and full-year results announced on Feb. 23, Block attributed the fall in Bitcoin revenue to the decline in BTC price in the year. Bitcoin fell approximately 65% throughout 2022. This fall in revenue led to a 25% year-on-year drop in Bitcoin gross profit for Cash App, which fell to $35 million in the quarter. Cash App…

A16z Leads $25M Round for Web3 Startup Building Online Towns

Towns offers an end-to-end encrypted chat protocol that lets communities create programmable, self-governed “town squares” where users can assemble and chat without worrying about whether the app owner will decide to prevent access, profit from the activities or change user rights. Communities can control settings like administration, privacy and roles, and create tailored experiences that can include rewarding member participation or allowing members to sell non-fungible tokens (NFT) in the chat. Any community can build new clients or application programming interfaces (API) on the protocol for control and customization. Source…

US Lawmaker Launches CBDC Anti-Surveillance State Act to Protect Americans’ Right to Financial Privacy – Regulation Bitcoin News

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U.S. Congressman Tom Emmer has introduced the Central Bank Digital Currency (CBDC) Anti-Surveillance State Act “to halt efforts of unelected bureaucrats” from “stripping Americans of their right to financial privacy.” The bill also prohibits the Federal Reserve “from issuing a CBDC directly to anyone.” CBDC Anti-Surveillance State Act Introduced U.S. Congressman Tom Emmer (R-MN) announced Tuesday that he has introduced the Central Bank Digital Currency (CBDC) Anti-Surveillance State Act in the House of Representatives. The recently elected House Majority Whip tweeted: Today, I introduced the CBDC Anti-Surveillance State Act to…

Sotheby’s to Auction Neal Stepheson’s ‘Snow Crash’ Manuscript And Digital Collectibles

“Half of my life ago, with my head full of computer graphics lore and visions of a satirical cyberpunk future, I sat down to write ‘Snow Crash,’” Stephenson said in the press release. “Covered with hand-written edits and typesetting notes that have since been rendered obsolete by digital codes, it bridges the era during which video games and the Internet became ubiquitous in our lives.” Source