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AggLayer will connect all Web3, including L1s like Ether and Solana — Polygon Labs CEO
Polygon’s AggLayer will unite the entire blockchain space to provide “infinite scalability,” according to Polygon Labs’ CEO.
Polygon’s ultimate vision is to unify the entire Web3 space, including all the siloed blockchain networks.
Polygon aims to achieve this through its AggLayer — short for aggregation layer — which is similar to a cross-chain interoperability protocol aiming to connect blockchain networks.
Ultimately, AggLayer aims to connect all the blockchain space, including layer-1 networks like Ethereum and Solana, according to Marc Boiron, the CEO of Polygon Labs.
Boiron told Cointelegraph in an exclusive interview:
“When you think of Polygon 2.0, you need to bring together the idea of thematic to pull upgrade together with Polygon CDK to allow for that infinite scalability and then the AggLayer to unify all of it.” Read More
Angel Drainer upgraded, deploying 300+ malicious DApps in 4 days
Notorious crypto phishing app Angel Drainer is back with a new system dubbed “AngelX” and it's easier to use and stealthier than ever before.
The notorious crypto phishing toolkit Angel Drainer is back, this time with a new and improved version called AngelX which has already deployed hundreds of malicious apps, according to a new report from blockchain security firm Blockaid.
In a Sept. 4 statement shared with Cointelegraph, Blockaid said the new AngelX system had already deployed 300 malicious decentralized applications (DApps) designed to steal digital assets from crypto users.
Blockaid said one of the more worrying features of AngelX is its upgraded support for phishing apps targeting users on “newer, less mature blockchains,” including The Open Network (TON) and Tron network.
“[AngelX] perceive these chains as less equipped to defend against attacks, due to a lack of robust security tools and support,” said Blockaid.
Additionally, the firm noted that they had detected over 150 new scams powered by the AngelX system following its launch on Aug. 31. Read More
Circle VP Warns US Risks Falling Behind in Stablecoin Regulation Amid Political Stalemate
"What's important is for the U.S. to upgrade and have a structure to define what a well-regulated stablecoin looks like," Circle's VP said.
The U.S. risks lagging in stablecoin regulation at the federal level amid competing jurisdictions worldwide, even as the Republican and Democrat parties work to establish clearer rules for the sector.
The concern was highlighted by Circle’s Vice President, Yam Ki Chan, in an interview with Decrypt during Korea Blockchain Week on Wednesday, where he discussed global regulatory shifts.
“Major jurisdictions around the world have set a minimum baseline for what a well-regulated stablecoin looks like,” Chan said. “The one that doesn't have it fully yet is the U.S. at a national level.”
That runs against other regulations worldwide, including the EU's MiCA rules and Hong Kong's stablecoin framework, which have begun establishing a national unified approach for those regions. Read More
Core Blockchain Launches LstBTC for Bitcoin Liquid Staking
The Core blockchain further expands its offerings with a new liquid staking token.
The Core Foundation on Thursday unveiled LstBTC, an ERC-20 liquid staking token pegged 1:1 with Bitcoin (BTC), aiming to solve a longstanding dilemma for Bitcoin holders: the choice between earning staking rewards and maintaining liquidity.
This allows BTC holders to earn daily rewards in CORE tokens while keeping their Bitcoin liquid for use in decentralized finance (DeFi) applications at the same time.
Speaking with Decrypt, Rich Rines—an initial contributor to Core DAO—said that Bitcoin makes up half the crypto market cap yet represents a tiny fraction of DeFi activity. This is in part because there hasn't been a sufficiently promising asset in terms of yield, security, and Bitcoin alignment, he said.
LstBTC can be that asset, according to Rines. 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
Bitcoin yield opportunities are booming — Here’s what to watch for
Bitcoin has historically been terrible as a yield asset. Fortunately, the options for earning interest are beginning to abound.
Bitcoin has been a terrific store of value but a terrible yield asset. Fortunately, the days of sub-0.5% BTC yields are ending. Emerging opportunities in Bitcoin’s layer-2 (L2) and decentralized finance (DeFi) ecosystems are game changers. Here’s how to prepare for the coming BTC yield boom.
Bitcoin mining used to be the only way to earn meaningful BTC rewards. Regular holders had to settle for sketchy centralized finance (CeFi) platforms — such as now-defunct Celsius and Voyager — or pitiful DeFi yields. As of Sept. 5, DeFi lending platform Aave was paying Wrapped Bitcoin (WBTC) depositors a measly 0.04% APR.
That’s changing. After years of quiet development, Bitcoin’s L2 scaling networks — such as Lightning Network, Core Chain, Rootstock (RIF), and Stacks — are gaining traction. Total value locked (TVL) on Bitcoin’s L2s surged to approximately $1.4 billion as of Sept. 5, according to data from DefiLlama. That’s up nearly 275% year-to-date and tenfold since 2023.
Brendon Sedo of L2 developer Core DAO told Cointelegraph that he expects Bitcoin L2s to capture a significant portion of Bitcoin’s $1+ trillion market capitalization in the coming years. Read More
‘First fast’ Ethereum scaler Movement peaks at 12K TPS on testnet
Movement Labs co-founder Rushi Manche claims his Ethereum scaling blockchain is peaking at 12,000 transactions a second on testnet.
Ethereum layer-2 blockchain Movement is aiming to be the “first fast” Ethereum scaler, with its co-founder claiming the network can process nearly double the number of transactions a second compared to its fastest rival at its peak.
Movement’s testnet, launched on July 30, had reached a peak of “over 12,000” transactions per second (TPS) and “in theory, could do 30 to 50 thousand,” Movement Labs co-founder Rushi Manche told Cointelegraph at Korea Blockchain Week.
“We’re gonna be the first fast L2 on Ethereum,” he claimed.
The Ethereum layer 2 with the highest real TPS was Polygon which processed 190 transactions a second, CoinGecko research analyst Lim Yu Qian reported in May, which is far down from its advertised top TPS speed of 7,000.
Solana was the fastest blockchain in terms of real TPS, with 1,053 transactions a second, which Lim noted “only achieved 1.6% of its theoretical maximum speed of 65,000 TPS.”
Manche attributed Movement’s speed to its programming language, Move — Facebook’s invention for its abandoned crypto stablecoin project Diem.
Move can achieve such a high TPS, Manche explained, because it can process multiple transactions at once instead of the typical back-to-back. Read More
Mercuryo Launches Mastercard-Enabled Crypto Debit Card
The virtual ‘Spend‘ card, available in the European Union, comes a few weeks after Metamask launched its own crypto-to-fiat debit card.
Crypto payments firm Mercuryo has released a Mastercard debit card for crypto holders in Europe.
The virtual payment method, called Spend, enables users to turn their crypto holdings into fiat to make purchases at more than 90 million merchants in the Mastercard network, Mercuryo said in a statement on Thursday.
The digital card is issued by Polish fintech company Quicko.
Spend aims to become a widely accepted payment method, leveraging Mercuryo’s competitive off-ramp fees and security, the company said.
“The launch of Spend marks a significant milestone in our journey towards democratizing access to cryptocurrency and integrating it seamlessly with the traditional payment world,” Mercuryo co-founder and CEO Petr Kozyakov said in a statement. Read More
Celestia unveils roadmap to 1-gigabyte blocks
The roadmap comes amid fierce competition in data availability among rivals such as EigenDA and Avail.
Celestia, a layer-1 data availability network, unveiled a technical roadmap charting a path to scaling block size to 1 gigabyte, according to a Sept. 5 blog post.
The roadmap’s core objective is to “relentlessly scale to 1-gigabyte blocks, bringing a massive increase in data throughput to Celestia’s rollup ecosystem,” Celestia said. Blocks are bundles of transaction data grouped together on blockchain.
Celestia’s focus on block size reflects an industrywide push to enhance the scalability of blockchain networks by lowering transaction costs and more efficiently storing and retrieving data. Celestia competes with protocols such as EigenDA and Avail, as well as mainnet Ethereum.
With 1 gigabyte blocks, Celestia’s capacity to process transactions would be several times greater than Visa’s, the protocol said. The card network processes approximately 24,000 transactions per second (TPS).
“This unlocks onchain applications and capabilities that were previously considered unviable, such as verifiable web apps and fully-onchain gaming,” Celestia said. 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
