Category: Blockchain

Scroll Launches zkEVM Mainnet | Blockchain News

On October 17, 2023, Scroll, an open-source, community-centric Ethereum scaling solution, unveiled its mainnet, marking a pivotal stride towards augmenting scalability and propelling developer adoption on the Ethereum blockchain. This comes after two years of extensive development and stringent testing, utilizing zero knowledge (zk) proofs to offload computation from the primary blockchain, thereby addressing the challenges of rising network traffic and costs on Ethereum due to its burgeoning user and project base. Scalability Unleashed Employing zk proofs, Scroll has innovated a mechanism that significantly boosts transaction throughput, by expediting transaction…

Blockchain innovation or dangerous house of cards? – Cointelegraph Magazine

Ethereum restaking — proposed by middleware protocol EigenLayer — is a controversial innovation over the past year that has some of the brightest minds worried about the potential ramifications. Restaking involves reusing staked or locked-up Ether tokens to earn fees and rewards. The restaked tokens can then help secure and validate other protocols.  Proponents believe restaking can squeeze additional security and rewards from already staked ETH and grow the crypto ecosystem in a healthier way based on Ethereum’s existing trust mechanisms. Restaking could serve as a security primitive for exporting…

Bitget U30 Hackathon Recognizes Budding AI and Blockchain Innovators

Bitget, a renowned cryptocurrency derivatives and copy trading platform, celebrated the triumphant teams of its Under 30 Virtual Hackathon on October 16, 2023. This venture is a part of the Blockchain4Youth CSR program aimed at fostering young talents in AI and blockchain technology. The hackathon commenced on August 12 and concluded on September 24, 2023, spotlighting remarkable innovations in AI and blockchain arenas. The U30 Hackathon was executed with the concerted effort of Bitget alongside industry frontrunners such as Bitget Wallet, Foresight Ventures, and HackerEarth. A significant prize pool of…

Reddit to Discontinue Blockchain-Based Community Points Program

In a bid to prioritize scalable reward programs, Reddit is terminating its blockchain-based Community Points program, a decision that has garnered significant attention in recent days, according to Techcrunch. The system, conceived to incentivize positive engagement among users, will cease operation by early November 2021. Program Overview Launched in 2020, Community Points were awarded to users who actively contributed to certain subreddits, thereby encouraging enriched content and dialogue. The points, essentially Ethereum tokens, were stored in Reddit’s Vault, a designated cryptocurrency wallet. Once rewarded, these points were immutable, neither Reddit…

Coinbase Amplifies Anti-Terrorism Financing Measures Through Blockchain Analytics

In an era where digital currencies are gaining traction, ensuring the prevention of their misuse is paramount. On October 17, 2023, Coinbase, a prestigious cryptocurrency exchange, delineated its strategies to combat illicit financial activities, particularly focusing on thwarting terrorism financing, through an official blog post. The essential takeaway is the unwavering stance that no currency – be it fiat, gold, or cryptocurrency – should be utilized in supporting Hamas or any other terrorist entities. This is anchored on the principle of keeping the crypto realm clean from nefarious activities which…

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