Blockchains Archives

As Blockchains Push Toward Decentralization, These People Serve as Ultimate Guardians

January 29, 2024

The goal of these “protocol councils,” sometimes called “security councils,” is to nudge the nascent networks toward increasing decentralization, by gradually removing them from under the control of their original developers. Before cutting the cord completely, where the networks essentially run automatically, or subject to some sort of democratic process, the thinking is that a panel of well-meaning humans can serve as the ultimate guardians – able to step in quickly when emergencies arise, or providing the final sign-off on major protocol changes. Source

Polygon Labs Plans ‘Aggregation Layer’ in Response to Popularity of Modular Blockchains

January 24, 2024

So-called “monolithic” blockchains, including Ethereum, are vertically integrated, with functionality for transaction execution, security and data storage all included. But developers are increasingly turning to “modular” designs, where networks can strap together different components and providers to serve the various functions. Source

MetaMask’s Secret ‘Intents’ Project Could Radically Change How Users Interact With Blockchains

January 17, 2024

In the past, a MetaMask user looking to sell tokens would have needed to submit a transaction specifying exactly how, where, and for what price they wanted their tokens to be sold. With Smart Swaps, which is an “opt-in” feature based around intents, a user can simply request that MetaMask sell their tokens for the best price it can find. Source

Shimmer Adds Cross-Chain Messaging Through LayerZero to Enable Transactions on Different Blockchains

December 27, 2023

Initial connection to other blockchains through the Shimmer bridge, a tool that transfers value between different blockchains including Ethereum, Binance Smart Chain, Polygon, Avalanche, Fantom, Base, Arbitrum and Optimism, takes place today. This connectivity broadens the horizon for ShimmerEVM, enabling an exchange of assets and information across any application built on blockchains supported by LayerZero, an interoperability protocol. Source

TRES Raises $11M to Expand Crypto Accounting, Tax Platform to New Blockchains

December 20, 2023

As the crypto industry sees more institutional adoption, there will be a greater need for accounting and taxation reporting tools similar to the ones companies can access in the traditional financial world. TRES is looking to provide such firms with a “comprehensive way to get the full & accurate picture across all of their Web3 financial activity,” co-founder and CEO Tal Zackon said in the statement. Source

Why a gold rush for inscriptions has broken half a dozen blockchains

December 19, 2023 boss

The latest degen “gold rush” to inscribe everything from profile pictures to memecoins has led to at least half a dozen blockchain networks cracking under pressure over the past week. The last few days have seen Arbirtrum, Avalanche, Cronos, zkSync, and TON all suffering partial or full outages recently due to inscriptions, with modular data availability network Celestia the latest to succumb, according to industry researchers who posted a screenshot of its block explorer on Dec. 18. Videos have also been posted of mass minting on the Celestia network. Screenshot…

Bitcoin (BTC) Prices Hover Over $41K as Memecoin, Ordinals Frenzy Clogs up Blockchains

December 18, 2023

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CryptoX is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CryptoX was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of…

Bitcoin Dips Under $41K to Begin The Week in Red as Memecoin, Ordinals Frenzy Clogs up Blockchains

December 18, 2023

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of…

Growth of Asset Tokenization on Blockchains Could Lead to Greater Risks to Financial Stability: Bank of England

December 7, 2023

That increasing size could pose risks for the wider financial environment, the bank said. The boom could “increase the interconnectedness of markets for crypto assets and traditional financial assets (since they are represented on the same ledger); and create direct exposures for systemic institutions,” the report said. Source

Blockchains are becoming dollarized: Now what?

November 16, 2023 boss

It has become increasingly clear that stablecoins have become the dominant means of transaction settlement on public blockchains, at the exclusion of native cryptoassets (like Bitcoin/Ether). This wasn’t in the plan of the architects of these blockchains or their communities. On-chain data supports this observation: Stablecoins represent approximately 10% of the total crypto market cap, but they account for around 70%-80% of transactional value settled on blockchains, according to data presented by Nic Carter at Token2049 (a crypto event in which our company was a sponsor of). While most metrics…