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Consensys decentralized Infura launches as EigenLayer AVS
The decentralized Web3 marketplace will leverage EigenLayer’s infrastructure to improve accessibility and reduce development costs.
Consensys Ethereum validator node provider Infura said it’s made significant progress in its Decentralized Infrastructure Network (DIN), announcing plans to launch as an Actively Validated Service (AVS) on Ethereum restaking platform EigenLayer.
“By leaning on Ethereum’s economic security through EigenLayer, we continue to build on DIN’s steady progress creating a Web3 permissionless marketplace for infrastructure services,” said head of product for Infura DIN, Tom Hay, in an announcement made at Devcon 2024 in Bangkok on Nov. 14.
DIN is a decentralized Web3 API marketplace, or decentralized “app store” for blockchain infrastructure, which provides a new way for developers to connect to Ethereum and other leading blockchains. It currently operates across multiple networks, including Blast, Mantle, Starknet, ZKsync, BNB Smart Chain and Scroll.
Launching DIN as an AVS through EigenLayer has a number of benefits, including a reduction in development costs, improved accessibility and reliability of Web3 services, a cooperative environment among providers and the simplification of launching new services across Web3 gateways. Read More
Tether introduces ‘Hadron’ real-world asset tokenization platform
The Tether-US dollar stablecoin's market capitalization has topped $126 billion, as approximately $7 billion in new USDt was minted.
Stablecoin issuer Tether has revealed a real-world asset tokenization platform dubbed “Hadron,” which allows businesses, asset managers, and nation-states to issue and manage digital asset tokens for real-world financial instruments.
According to Tether, users can tokenize stocks, bonds, stablecoins, loyalty points, and other real-world assets on the platform, which also features robust Know Your Customer (KYC) and Anti-Money Laundering (AML) controls. Tether CEO Paolo Ardoino issued this statement alongside the platform reveal:
“While traditional finance institutions have always pushed for closed ecosystems that are opaque to citizens, Hadron by Tether reinforces our commitment to building a more inclusive future.”
Hadron will also include “basket-collateralized products,” which allow nation-states and corporations to issue digital asset tokens for baskets of commodities or other real-world, securitized assets. Read More
Tether mints $1 billion USDt on Tron, pays zero fees — Arkham
According to stablecoin firm Tether, approximately $127 billion in Tether-USD tokens (USDt) are currently in circulation.
Tether minted $1 billion in USDt stablecoins on the Tron network and paid no fees for the large transaction, according to data from onchain analytics firm Arkham Intelligence.
The analytics platform highlighted the Nov. 14 transaction from a “black hole address” on Tron to Tether’s multisignature wallet beginning with the characters “TBPxh.”
Onchain records also show that almost immediately after the 1 billion USDT was sent to Tether’s multisignature wallet, the funds were transferred to the stablecoin firm’s treasury, and this transaction likewise featured zero fees.
The Tron network’s comparatively low fees have made the blockchain ecosystem attractive for stablecoin firms and ideal for recipients in developing countries, where excessive network fees can significantly erode the value of a payment or remittance. Read More
Chain abstraction explained: What it is and the problems it solves
Chain abstraction is a concept that simplifies the user experience of blockchain technology and unifies transactions across multiple networks.
Web3 is still a fragmented industry leading to a complex and technical user experience. It’s a barrier to entry for the mainstream public, who must create multiple crypto wallets, store seed phrases and switch between blockchains to use various applications.
It’s like going out for a pizza but going to a different restaurant for each part of the meal — one place for the dough, another for the pepperoni and somewhere else for the mozzarella. Plus, you have to use a different currency for each. It wouldn’t be an enjoyable experience.
Blockchain chain abstraction aims to solve this issue by hiding or “abstracting” technology away from the user. This means people would not know they are using blockchain or which blockchain they are using.
The idea is to remove technical details like token bridging, gas fees, consensus mechanisms and native tokens for the user. Instead, it allows them to use Web3 from one wallet and one cryptocurrency. All the technical stuff happens behind the scenes. Read More
The Markethive Customer Acquisition System Integration Moves Forward Spearheaded By Blugenics Master Distributor.
As the appointed Master Distributor for Blugenics, Chris Corey brings a wealth of experience and a clear vision for the future of Markethive. He recognizes the power of the social market broadcasting platform and its unparalleled ability to drive customer acquisition through innovative marketing solutions. Chris is not just a figurehead, but a seasoned professional leading the integration process. His leadership assures aspiring entrepreneurs that they can leverage the platform's capabilities to amplify their business growth and reach new heights.
This article highlights our interview with Chris, in which we discussed Blugenics and why he feels Markethive is the perfect fit to integrate a customer acquisition system. Chris's confidence in Markethive's unique and proven marketing practices and strategies, such as its comprehensive suite of tools and focus on customer engagement, is evident, reassuring us of this integration's success.
Chris Corey is a long-standing member and user of Markethive. Over the years, he has leveraged the platform's diverse range of products and services, which have served him well in building and promoting his business. Throughout his journey, he has remained on the lookout for a solution that embodies Markethive's customer-focused ethos, with a customer-centric product that he could showcase the power of Markethive. Read More
Mobile Crypto Apps Are Climbing the Charts as Bitcoin Blasts Off
Bitcoin's recent spike to a new all-time high price has lifted the entire market—and mobile crypto apps on iOS and Android are surging too.
Mobile cryptocurrency apps have jumped towards the top of App Store rankings amid a surge for Bitcoin and other crypto prices, resulting in a major increase in the overall market cap for all coins—surpassing $3 trillion earlier this week.
Coinbase leads the charge, jumping from #26 on Election Day to #1 on Friday in the Free Finance category of Apple’s App Store for iOS devices. The ranking boost aligns with significant spikes in trading volume on the exchange, which surpassed more than $12 billion on Nov. 12, marking the highest volume day recorded this year according to data from CoinGecko.
Other major crypto apps like Robinhood and Crypto.com followed in Coinbase’s footsteps, making leaps inside the top 10 in the same category.
Historically, rising crypto prices correlate with an increased popularity of major exchanges and their respective apps, which are more accessible to mainstream retail buyers than decentralized platforms targeted towards crypto experts.
But this time, it’s not just the top crypto brands making their presence known in the App Store rankings. Moonshot, a mobile meme coin trading platform, has jumped 388 spots—from outside the top 400 apps—to #84 in the Free Finance category during the same timeframe. Read More
Look out, Solana: Starknet to 4X TPS within 3 months
StarkWare is looking to reduce its already cheap fees as it anticipates a boom in blockchain activity and gas fees in the forthcoming months.
StarkWare CEO Eli Ben Sasson said he expects transaction speeds on the firm’s Ethereum layer 2 Starknet to increase fourfold while fees fall “5x” over the next three months, making it competitive with Solana.
The network improvements will come mostly from “better compilation and faster execution” on Cairo — Starknet’s native smart contract language, Ben Sasson told Cointelegraph at the DevCon 2024 in Bangkok last week.
It would see Starknet cross the 1,000 transactions per second (TPS) milestone and compete with Solana, which typically processes a non-vote TPS between 800 to 1,050, data from Solana Compass shows.
Starknet’s TPS will surpass 1000 or more within the next “three months,” Ben Sasson asserted.
“You can take it to the bank.”
Fees on the already cheap Starknet will be vastly reduced, too, Ben Sasson added.
“[We] should have both 5x lower transaction costs on Starknet, probably making it the cheapest L2.”
Reducing fees is a priority for Ben Sasson’s firm, as it expects a boom in blockchain activity and a resulting “spike in gas prices and block prices.” Read More
OP_VAULT explained: How it could enhance Bitcoin security
OP_VAULT is a feature that adds extra security to Bitcoin, helping protect it from theft or unauthorized access.
The decentralized nature of Bitcoin has revolutionized the digital economy. Still, as its use grows, so does the need for enhanced security. This is where OP_VAULT comes in, an innovative feature introducing a mechanism called “covenants” to offer added security and flexibility.
In Bitcoin, “OP” stands for “operation code” or “opcode.” OpCodes are part of Bitcoin’s scripting language and represent individual commands or instructions that tell the blockchain what to do with a transaction. These codes enable Bitcoin scripts to add functionality and enforce rules. For example, OP_CHECKSIG verifies digital signatures, while OP_RETURN enables embedding data on the blockchain. The “OP_” prefix is standard for these commands, making identifying them quickly within scripts easy.
But what is a covenant in Bitcoin?
A covenant in Bitcoin is a rule or condition that dictates how funds can be spent. Beyond a standard one-time authorization to spend coins, a covenant adds ongoing constraints, creating a structure where specific actions must be followed even across multiple transactions. This means that covenants can ensure a coin remains protected by certain rules over time, enhancing security and enabling unique spending conditions.
So, where does the vault fit in here?
Vaults are a practical form of covenants that focus on simplifying everyday use while adding extra safeguards against unauthorized spending.
Here’s how vaults work: Read More
Tether, Kraken, Fabric Ventures back new MiCA-compliant stablecoins
Quantoz Payments has partnered with Kraken, Tether and Fabric Ventures to launch MiCA-compliant EURQ and USDQ stablecoins in the EU, aiming for secure, efficient digital payments.
Tether, Kraken, and Fabric Ventures are backing Dutch fintech company Quantoz Payments in the launch of two stablecoins, EURQ and USDQ, compliant with the European Union’s Markets in Crypto-Assets Regulation (MiCA).
Set for release on Nov. 18, the euro- and United States dollar-backed tokens are licensed by the Dutch Central Bank (DNB) as e-money tokens (EMTs). These stablecoins, fully backed by fiat reserves, aim to provide a secure and regulated option for digital payments across the European Economic Area (EEA).
Kraken and Bitfinex are set to list EURQ and USDQ on Nov. 21, enabling access for eligible clients across Europe with the target to facilitate cheaper, faster and transparent transactions for both corporate and consumer use. 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
