Tag: Blockchains

Social Media App MeWe to Bring Frequency Blockchain’s Self-Sovereign Identity to Its 20M Users

Frequency is a parachain of the Polkadot blockchain, meaning it sets its own rules and follows its own logic but is compatible with the main Polkadot chain as well as other parachains. Parachains pay a comprehensive lease to Polkadot, often with funds gathered from their communities, instead of a fee for each block. This boosts the system’s scalability and stability, according to Frequency. As such, the Frequency blockchain can handle a lot of throughput, needed for social media applications. Source link

Blockchains like Solana brag about TPS — but it’s misleading

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The throughput of blockchains — namely, their ability to process X number of transactions per second (TPS) — is often touted in such a way as to downplay other considerations, such as decentralization and security. The blockchain trilemma, of course, acknowledges that succeeding in all three areas is challenging, though not impossible. There is no denying that throughput and scalability are important, indeed vital if blockchains are eventually to become the rails on which the financial system is run. However, there is a major misconception surrounding the metric used to…

Cross-Chain Bridge Aggregator LI.FI and InsurAce Pitch Protection for Moving Crypto Between Blockchains

LI.FI and InsurAce’s offering is nowhere near that level yet. At press time, the tool said it covered around 130 transactions, some $15,000 in value across eight different chains. The starting amount for the bridge cover fund currently stands at $200,000. “As a brand new product, we’re starting small and will increase capacity regularly to fit demand,” said InsurAce to CoinDesk over Twitter. Source

Exploit targets crypto veterans, drains over $10M across 11 blockchains

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An as-of-yet unidentified wallet-draining exploit has taken more than $10.5 million in nonfungible tokens (NFTs) and coins since December 2022 from experienced community members who were “reasonably secure.” MetaMask developer Taylor Monahan brought the issue to light and said that at least 5,000 Ether (ETH) had been stolen, but also noted that the extent of the losses has not yet been determined. Monahan highlighted that “no one knows how” the exploit works yet. For the past 48hrs I’ve been unwinding a massive wallet draining operation I don’t know how big…

Blockchains need an interoperable standard to evolve, say crypto execs

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Blockchain technology needs a benchmark communications standard that can be easily integrated by every network in order for a complete transition from Web2 to Web3 to occur, industry commentators say. Many expect there will be multiple blockchains and such an ecosystem requires communication protocols similar to the Transmission Control Protocol/Internet Protocol (TCP/IP) used on the internet. Ryan Lovell, director of capital markets at crypto price oracle solutions firm Chainlink Labs told Cointelegraph that blockchains without interoperability are like what computers are without the internet — isolated machines which cannot transfer…

What can blockchains do to ensure fairness?

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Projects rooted in artificial intelligence (AI) are fast becoming an integral part of the modern technological paradigm, aiding in decision-making processes across various sectors, from finance to healthcare. However, despite the significant progress, AI systems are not without their flaws. One of the most critical issues faced by AI today is that of data biases, which refers to the presence of systemic errors in a given set of information leading to skewed results when training machine learning models.  As AI systems rely heavily on data; the quality of the input…

Pancakeswap Launches Version 3 of Protocol on BNB and Ethereum Blockchains – Defi Bitcoin News

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On Monday, April 3, the decentralized exchange (dex) platform Pancakeswap launched version 3 of its protocol (v3) on the Binance Coin (bnb) and Ethereum blockchains. The new application aims to improve the performance of the dex protocol and reduce fees by implementing four levels of trading fees. New Features and Improved Capital Efficiency Offered in Pancakeswap Version 3 On Monday, Pancakeswap launched version three of its protocol on the Ethereum and Binance Coin (BNB) blockchains, following an announcement in the first week of March. “It’s Pancakeswap v3 Day. Tell us…

‘The Only Way to Truly Scale Blockchains Is to Parallelize Processing’ Says Piers Ridyard – Interview Bitcoin News

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Despite being touted as the possible panacea, decentralized finance (defi) still faces obstacles which greatly diminish the prospects of mainstream adoption, asserts serial entrepreneur and CEO of Radix DLT, Piers Ridyard. Ridyard added that while defi is seen as “a fantastic proof of concept,” widespread adoption of this alternative to traditional finance is only possible when the developer and user experience is improved. Developer Incentives and Mass Adoption of Defi Besides improving developer and user experience, the Radix CEO told Bitcoin.com News that the provision of ongoing and sustainable support…

California Leads the Way as U.S. Federal, State Agencies Consider Blockchain’s Applications: Bank of America

The project is seen as a first step with the potential for additional functionality, the note said. These may include the ability to record repairs within the NFT, to use stablecoins as the payment leg for “atomic title transfers” and allow vehicle-licensing agencies from other states to join the platform so they can benefit from the same efficiencies as well as producing incremental efficiencies related to cross-state vehicle sales. Source