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Magic Eden Having ‘Best Year Ever’ Despite NFT Market Slump: CEO
The company that pioneered a multi-chain approach in the NFT market is betting digital asset owners will always value content and convenience.
While the NFT market has lost considerable steam since peaking two years ago, the marketplace Magic Eden has been reaching new heights on its own, according to CEO Jack Lu.
“Even though the overall market has been a bit soft, the year has been pretty good for Magic Eden,” he said in an interview with Decrypt (video below). “2024 has actually been our best year ever.”
When Magic Eden launched in September 2021, the NFT market saw $4.2 billion in JPEGs trade hands, according to CryptoSlam. At that time, Magic Eden was precluded from some of the NFT market’s buzziest projects, as the most successful ones ran rampant on Ethereum.
Only offering Solana NFTs in its early days, Magic Eden pioneered a multi-chain approach to trading digital collectibles as the NFT market cooled. Entering its third year, the marketplace has built out support for digital collectibles on Bitcoin, Ethereum, Polygon, and Base. Read More
Hedera contributes entire codebase to Linux Foundation
Hedera shifts toward open-source decentralization, transferring its codebase to Linux Foundation’s Decentralized Trust for global collaboration.
Hedera, a decentralized public network, announced that it has become a founding premier member of the Linux Foundation’s newly launched decentralized trust initiative.
The decentralized network contributed its entire source code, including its hashgraph consensus algorithm and all core services, tools and libraries, to the Linux Foundation.
Hedera’s contribution, which forms the new project “Hiero,” aims to allow developers to collaborate on decentralized trust technologies globally under an open-source and inclusive framework.
Hedera’s decision to transfer its entire codebase to the LF Decentralized Trust initiative indicates a substantial shift toward decentralization. Read More
FBI Seizes Websites Linked to Crypto Recovery Fraud
The Federal Bureau of Investigation (FBI) San Diego Field Office announced last week that its special agents had seized websites linked to three cryptocurrency recovery services. This operation targets a scam that further exploits victims of cryptocurrency fraud by offering false recovery services.
The websites taken down belonged to Mychargeback, Payback Ltd., and Claim Justice. These companies claim to be experts in tracing and recovering lost cryptocurrency funds but, according to the FBI, have no track record of success. “Representatives of these companies often advertise strong success in recovering victim funds but have no track record in doing so,” the announcement details, adding:
They often charge significant upfront fees and ask for a commission should funds be recovered. These companies use extensive social media advertising, including false reviews, to convince victims of the legitimacy of their services.
The FBI detailed that victims are lured in through false promises, paying large fees upfront for services that are not delivered. Read More
Decentralized data ownership app to launch open beta at Token2049
New decentralized solutions emerge as users demand more control over their data, forcing businesses to rethink traditional collection practices.
Scannit, a decentralized data exchange app, is introducing a new model that aims to transform data exchange, giving users and businesses more control and value.
Companies need consumer data to understand their customers, innovate and stay competitive. On average, each person generates 1.7 megabytes of data per second. With 97.2% of businesses investing in big data analytics, the importance of consumer data in driving business success is clear.
However, traditional data collection systems often struggle to meet the growing demand for comprehensive and accurate insights. These systems lack transparency, raising concerns about privacy and how personal data is collected, shared and used without clear user consent.
As these privacy concerns grow, users become increasingly hesitant to share their data. They seek greater control over how their information is handled, pushing companies to explore new approaches for gathering data while maintaining trust. Read More
The New Mini Blog Newsfeed Is Here At Markethive! A significant achievement unlocked, with many more to come
The Markethive Social Market Broadcasting Network is rapidly gaining prominence as a blockchain-based ecosystem that empowers entrepreneurs with a unique blend of uncensored expression and impartial dialogue, fostering a spirit of collaboration. This sets it apart from the often divisive and restrictive social media landscape.
At Markethive, your experience is our top priority. That's why we're recognized for our evolutionary and innovative ethos. We consistently broaden our decentralized, all-encompassing platform, creating a distinctive news feed interface that fully captures the user's experience.
We operate as an Inbound Marketing platform similar to Marketo and Paragon. The platform is comparable to popular platforms such as YouTube, Instagram, LinkedIn, and Twitter. However, we aim to surpass these traditional Web 2.0 media platforms with the upcoming release of Markethive 2.0, which includes various new features and an improved layout.
In contrast to traditional social media platforms, which rely on a single, primary news feed algorithmically set by the central authorities, Markethive's innovative approach will incorporate four distinct news feeds tailored to support the diverse range of features and functions within the Markethive ecosystem.
Markethive's feeds, including the Conglomerate or general newsfeed, video content, blogging, and curated content, are all about putting you in control. With advanced algorithms, you can tailor these feeds to your preferences, giving you the power to shape your Markethive experience. Markethive's reach is vast, as it consolidates the various features of other platforms into a single, unified system. Read More
Privacy is missing ingredient for business blockchain adoption: EY exec
Paul Brody, EY’s global blockchain leader, highlights how privacy is the missing piece for blockchain adoption in businesses and provides potential solutions to enterprise concerns.
The blockchain industry has been striving for widespread adoption across various sectors for years.
While it has gained traction in sectors such as finance and healthcare, it still has a ways to go, and for business adoption, privacy seems to be the missing ingredient, according to the EU’s global blockchain leader Paul Brody.
Ahead of the Token2049 conference in Singapore, Cointelegraph reporter Andrew Fenton spoke with Brody, who highlighted how privacy will be the catalyst for blockchain use cases.
Brody said a lack of privacy is a major hurdle for blockchain adoption for businesses, especially large-sized companies.
“The number one issue for enterprise users and for more serious institutional investors, is privacy. Blockchains don't natively have privacy. Now you have some degree of pseudonymity or level of privacy if you are transacting through an exchange and you're buying a fungible asset.” Read More
Risc Zero aims to bring blockchain security to ‘any’ offchain app
Next-gen zero-knowledge proofs are “orders of magnitude” cheaper than existing options, Risc said.
Risc Zero is preparing to launch a service designed to use zero-knowledge (ZK) proofs to bring blockchain security to any offchain application, according to a Sept. 16 announcement.
Called “Boundless,” the service seeks to resolve blockchain’s most vexing scalability challenges — including limits to transaction throughput and cross-chain interoperability— by “bypassing traditional onchain execution limits” with ZK-proofs, Risc said.
Boundless is the latest in a proliferation of potential solutions to blockchain’s scalability constraints, which contribute to higher costs and slower execution times for transactions.
“The current paradigm, where onchain applications require global re-execution of all transactions, faces scalability limitations,” Risc said. “Although more nodes make the network more secure, they don’t enable more capacity as everyone must re-execute all data.” Read More
Linux debuts decentralized foundation with Hedera and 100+ members
The Linux Foundation Decentralized Trust is a foundation that will incorporate all of Linux's decentralized projects in one place, including all of Hyperledger.
The Linux Foundation has created a software foundation as an umbrella organization for open source for decentralized ecosystems. The Linux Foundation Decentralized Trust (LFDT) debuts with over 100 members, including all the members of the Hyperledger Foundation, Hedera and 13 more new members.
Hedera is a premier member of the trust, joining Accenture, DTCC and Hitachi at that level. Hedera contributed its entire source code, including its hashgraph consensus algorithm, to LFDT, where it will be known as Project Hiero. Hedera source code governance will be transferred to the Linux Foundation, while the Hedera Council will retain operational governance of the network.
Another new member of LFDT, wallet-as-a-service provider Dfns, contributed its key management system to the trust. It will be known as Project Lockness. Dfns said in an X tweet:
“Although MPC [multi-party computation ] holds great promise, its adoption has been slow due to a lack of trusted standards and industry caution. Lockness aims to change that.” Read More
Chainlink CCIP now live on ZKsync, boosting cross-chain interoperability
Chainlink’s CCIP goes live on ZKsync, empowers developers to create cross-chain DApps, and fosters greater interoperability.
Chainlink’s Cross-Chain Interoperability Protocol (CCIP) is now live on ZKsync, a layer-2 (L2) scaling solution that uses zero-knowledge (ZK) proofs.
ZKsync uses ZK technology to improve network security, privacy, and scalability while abiding by Ethereum’s security standards.
The integration of Chainlink’s CCIP on ZKsync’s Era mainnet marks a milestone for the L2 chain’s interoperability and operation of decentralized applications (DApps).
Developers on ZKsync can now build DApps that can operate across multiple blockchain networks through this cross-chain interoperability integration. Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
Featured Image Source: Pixabay
