Tag: Blockchains

Top 10 Proof Of Work Blockchains Like Bitcoin

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Proof of Work blockchains stand as the cornerstone of cryptocurrency technology, first popularized by Bitcoin, the original cryptocurrency. At their core, these blockchains rely on a consensus mechanism called Proof of Work (PoW). This mechanism is essential for validating transactions and creating new blocks without the need for a central authority. In a PoW blockchain, miners compete to solve complex mathematical puzzles. The first miner to solve the puzzle gets the opportunity to add a new block to the blockchain and is rewarded with cryptocurrency. This process not only secures…

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

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

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

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

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

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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

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

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…