Category: Blockchain

Reddit to wind down blockchain-based rewards service ‘Community Points’

Reddit has said it will soon shutter its long-running, blockchain-based rewards service “Community Points,” citing scalability concerns.  In an official Oct. 17 announcement in the r/cryptocurrency subreddit, a Reddit team member said while the platform saw “some future opportunities for Community Points, there was no path to scale it broadly across the platform.” The Community Points service, including the special memberships feature, will be wound down on Nov. 8. “At that point, you’ll also no longer see Points in your Reddit Vault nor earn any more Points in your communities,”…

OKX Ventures Invests in Celestia Lab’s Series B Funding for Modular Blockchain Development

OKX Ventures, the venture capital subsidiary of notable cryptocurrency exchange and Web3 technology firm OKX, declared its involvement in the Series B funding phase of Celestia Lab today. Celestia stands as the pioneering modular blockchain network which allows developers to utilize its platform as a foundational layer for consensus and data processes. Post this, developers have the liberty to select a virtual machine, such as Ethereum, Solana, or zero-knowledge roll-ups among other compatible smart contract execution layers, to create and launch their distinct blockchain networks. This notion diverges from the…

2023’s Blockchain Gaming Investments: Riding High Or Losing Steam?

Although the overall crypto market has displayed bearish sentiment throughout 2023, investments in blockchain gaming projects painted a contrasting picture.  Data from the decentralized app tracking platform DappRadar reveals some intriguing insights about the flow of capital into the blockchain gaming sector. Even as crypto markets remained volatile, the commitment from investors toward gaming projects persisted. A Deep Dive Into The Investment Trends Blockchain gaming has attracted significant capital this year with the potential to make changes in the financial and entertainment sectors. DappRadar reported that the blockchain gaming space…

CertiK, Blockchain Code Auditor, Makes ‘Strategic Workforce Adjustment’ of 15%

“In response to evolving market dynamics, CertiK undertook a strategic workforce adjustment today, impacting fewer than 15% of our colleagues,” according to an emailed statement from co-founder and CEO Ronghui Gu. “Our primary aim is to recalibrate our team structure to better align with our long-term strategic aspirations. CertiK remains committed to our mission and is confident that these changes are essential steps towards achieving our goals.” Source link

Blockchain gaming sees $2.3B in investments year-to-date: Report

Blockchain gaming projects have seen $2.3 billion in investments in 2023, with the third quarter getting $600 million despite crypto market prices seemingly being in a bearish mood all year.  According to a report from the decentralized applications (DApp) tracking platform DappRadar, the first quarter of 2023 netted $739 million in investments, while the second and third quarters saw $973 million and $600 million, respectively. This shows that the blockchain gaming sector attracted a total of $2.3 billion in investments in the first three quarters of 2023. Investments in blockchain…

FTX’s $477 Million Heist: A Trail of Blockchain Clues Unearthed

In the shrouded realm of blockchain, the FTX hack that transpired on November 11, 2022, stands as a glaring testament to the cryptic trails a nefarious act can leave behind. The Bahamas-based cryptocurrency exchange, FTX, fell prey to an unidentified hacker who made off with a staggering $477 million, plunging the exchange into bankruptcy. The maleficent actor was quick to take to the shadows, embarking on a quest to launder the stolen assets through a maze of decentralized exchanges (DEXs), cross-chain bridges, and mixers. The pilfered assets witnessed a loss…

Indonesia to conduct blockchain trials for public services

Following the launch of its government-backed crypto exchange, the Southeast Asian country of Indonesia is becoming a budding crypto hub that aims to be one of the leaders in Web3 technology, according to Indonesian blockchain and metaverse executives. At the recent Blockchain Economy Summit in Dubai, Cointelegraph spoke with Grace Sabandar, co-founder of the Indonesia Blockchain and Metaverse Center (IBMC), and Tuhu Nugraha, the principal of the Indonesia Applied Digital Economy and Regulatory Network (IADERN). The executives spoke on the state of digital assets, blockchain and metaverse adoption in Indonesia.…

WEMIX and Mirana Ventures Fuel Chinese Blockchain Gaming with $30M Fund

In a concerted move to bolster the blockchain gaming sphere in China, Singapore-based WEMIX PTE. LTD., a subsidiary of WEMADE, has strategically invested in five Chinese game developers, according to GlobeNewswire. This investment was channeled through a specialized blockchain gaming fund, established in collaboration with Mirana Ventures, on October 11, 2023. The fund, valued at $30 million, is a joint initiative with Mirana Ventures, an investment arm of the global digital asset exchange, Bybit. Financial Allocation and Future Endeavors A notable portion, $6.4 million to be precise, of the $30 million…

How BlackRock Used Crypto To Complete Deal On JP Morgan’s Blockchain

Per a report from Bloomberg, the world’s largest asset manager, BlackRock, achieved a new milestone in its crypto roadmap. The company has been working on new ways to integrate with blockchain technology and thus has partnered with other financial institutions. BlackRock Takes Another Step In The Crypto Space According to the report, BlackRock completed a transaction on the derivatives market using Onyx, the blockchain platform developed by JP Morgan. The transaction “used tokenized collateral,” or digital versions of shares from one of the asset manager’s funds. The asset manager used…