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eBay NFT platform KnownOrigin launches creator smart contract
The creator contract beta release has been tested by users, with 84 contracts deployed and 250 NFTs minted so far.
According to a Feb. 16 tweet, e-commerce platform eBay’s nonfungible token (NFT) marketplace KnownOrigin will launch creator smart contracts for its artists. With the new contract, artists can split earnings and earn royalties as co-creators. As told by KnownOrigin, users have been testing its Creator Contract beta release for the past few weeks, with 84 contracts thus far deployed and 250 editions of NFTs minted. Starting Feb. 24, all approved creators on KnownOrigin will be able to deploy and mint work on their own contract for public release. Deployment will not require coding knowledge.
In June 2022, KnownOrigin was acquired by eBay for an undisclosed sum. According to its co-founder David Moore, the Ethereum-based platform seeks to “empower creators and collectors by giving them the ability to showcase, sell and collect unique, authenticated digital items.”
EBay has enabled NFT listings on its direct marketplace since May 2021. However, the company has not integrated blockchain technology to support transfers or crypto-based sales on its platform. During an airdrop in May 2022, users were required to use in-platform messaging or email to receive their NFTs outside of the platform. EBay does not currently support listings soliciting payments or transfers in cryptocurrencies. Read More
Polygon Announces Beta Launch of Zero-Knowledge Ethereum Virtual Machine
Polygon (MATIC), an Ethereum layer-2 solution provider, has finally revealed the much-anticipated scaling update that has been in the works for quite some time. The beta launch of its zero-knowledge Ethereum Virtual Machine (zkEVM) mainnet is scheduled for March 27.
Polygon said in a blog post that was published on February 14 that after three and a half months of "battle testing," the platform would be ready for the launch of the mainnet the following month.
It was first released as a testnet in December of the previous year and has since been marketed as "seamless scalability for Ethereum."
Since the beginning of this decade, work on the scaling technique known as zk-rollup has been continuously progressing. In that span of time, the Polygon zkEVM system has accomplished a number of noteworthy goals, as mentioned by the team.
Among them are the implementation of more than 5,000 smart contracts, the production of more than 75,000 zk-proofs, the creation of more than 84,000 wallets, and the completion of two public third-party audits.
The group said that maintaining a secure environment is their first concern, which is "why Polygon zkEVM has been subjected to a battery of testing and audits," as they put it. Read More
Unstoppable Domains and Crypto Browser Opera Widen Scope to Offer Accessible Web3 Identity System
Opera, the Web3 browser, and Unstoppable Domains, the non-fungible token (NFT) domain provider, have announced that users can now access all domain endings, including .x, .crypto, and .nft, across Opera’s browsers. Additionally, Opera and Unstoppable are offering a free .nft domain that matches an Opera user’s Twitter handle after account verification.
Opera Expands Web3 Capabilities With Access to Polygon Domains:
Unstoppable Domains, the crypto domain provider, and Web3 browser Opera announced the firms are expanding their partnership to support all Unstoppable top-level domains, including .nft, .crypto, .wallet, and .x. The two companies believe that these domains offer an accessible digital identity system, enabling anyone to create a Web3 website using an Unstoppable domain.
In November 2022, Web3 browser company Opera launched degenknows.io, a tool for tracking and exploring NFT analytics. The following month, Opera announced the Alteon Launchpad, enabling users to mint NFTs without needing any coding experience. Jorgen Arnesen, Opera’s executive vice president for mobile, stated that “Unstoppable Domains offers powerful mechanisms for anyone to take control of their digital identity.” Read More
Square Enix to Use Polygon's Network in Symbiogenesis, Its Upcoming Web3 Experience
Japanese gaming company Square Enix has announced that it will be using Polygon, an Ethereum sidechain, as a base for Symbiogenesis, its upcoming Web3 experience. Naoyuki Tamate, producer of the game, cited the high transaction speeds and low transaction gas costs as the reasons for making this change in the game’s design.
Square Enix to Harness Polygon for Symbiogenesis’ Blockchain Operations:
Square Enix, a Japanese game-developing company, has given an update regarding the development of Symbiogenesis, its upcoming Web3-based experience announced in November. The company revealed it would use Polygon, an EVM-compatible sidechain, to support part of the blockchain component of the game.
The game, which will feature several art non-fungible tokens (NFTs) as part of its story, revolves around the realization of missions and collecting resources in a land called the floating continent. Regarding the utilization of Polygon’s network in the game, Symbiogenesis producer Naoyuki Tamate at Square Enix stated:
Square Enix opted to tap into Polygon’s high transaction speeds, low gas fees, and overall user-friendliness to deliver this unique experience to Web3 fans. Read More
REFER THREE TO MARKETHIVE TO RECEIVE BONUS AIRDROPS AND ACTIVATE MICROPAYMENTS
As Markethive continues to gain traction with new members joining daily, Markethive is steadfast and in preparation to take a large share of the new Market Network that is the next generation following the social media craze of Web 2.0. Markethive is a Social Market Broadcasting Network. It sounds like a mouthful, and it is!
Markethive is an all-encompassing platform that has integrated;
As Markethive’s foundation is Blockchain-driven, it has its consumer coin, currently named Markethive Coin (MHV), but soon to be renamed Hivecoin (HVC - the Ticker Symbol). It is fully integrated into the system and has created an Ecosystem for all Markethive members, free and upgraded Entrepreneurs.
So Markethive has established its niche as the only Social Market Broadcasting Network with an infinity Airdrop and a system that rewards the users for engaging on the platform and learning how to use it with ongoing, real-time micropayments, otherwise known as a Faucet.
Markethive has the combined power of Facebook, LinkedIn, Marketo, and Amazon, with the real advantage of deriving income within the Markethive system while promoting your business and enjoying the social media interface. Read More
Crypto investors under attack by new malware, reveals Cisco Talos
Since December 2022, the two malicious files — MortalKombat ransomware and Laplas Clipper malware — have been actively scouting the internet and stealing cryptocurrencies from unwary investors.
Anti-malware software Malwarebytes highlighted two new malicious computer programs propagated by unknown sources actively targeting crypto investors in a desktop environment.
Since December 2022, the two malicious files in question — MortalKombat ransomware and Laplas Clipper malware — have been actively scouting the internet and stealing cryptocurrencies from unwary investors, revealed the threat intelligence research team, Cisco Talos. The campaign’s victims are predominantly located in the United States, with a smaller percentage of victims in the United Kingdom, Turkey and the Philippines.
The malicious software work in partnership to swoop information stored in the user’s clipboard, which is usually a string of letters and numbers copied by the user. The infection then detects wallet addresses copied onto the clipboard and replaces them with a different address.
The attack relies on the user’s inattentiveness to the sender’s wallet address, which would send the cryptocurrencies to the unidentified attacker. With no obvious target, the attack spans individuals and small and large organizations. Read More
How the Ordinals movement will benefit the Bitcoin blockchain
The increasing popularity of Bitcoin NFTs, or Ordinals, will positively impact the Bitcoin network’s security and attract developers to the ecosystem, according to Ordinals proponent Udi Wertheimer.
According to independent developer Udi Wertheimer, Bitcoin non-fungible tokens (NFTs) will positively impact the ecosystem by improving its security and incentivizing developers to build on the network.
The number of newly created Ordinals has been spiking in recent weeks, causing a surge in transaction fees and average block size on the Bitcoin blockchain.
According to Wertheimer, Bitcoin NFTs are going to be beneficial for Bitcoin’s security budget. By driving up transaction fees, the creation of Ordinals will incentivize miners to secure the network while the revenue from mining rewards will decrease with each Bitcoin halving.
“Because the block space is scarce and because there’s demand for stuff like inscriptions, there’s a lot of hope that we will get enough people who want to pay fees in order to keep the Bitcoin network secure,” Wertheimer explained in a recent interview with Cointelegraph. Read More
What is the network effect?
Crypto’s value increases with more users, creating a positive feedback loop due to the network effect.
The network effect is a phenomenon where the value of a product or service increases as more people use it. As the user base grows, there are more opportunities for interactions, which can lead to increased benefits and positive outcomes for each user.
The network effect is a powerful driver of growth and adoption for many technologies and platforms, including social media, messaging apps and marketplaces.
The network effect is also a central concept in the world of cryptocurrency. In general, it means that a cryptocurrency’s value rises as more people use it. This is because a larger user base results in higher liquidity and trading volume, which increases acceptance and utilization.
For instance, the enormous and expanding user base of the Bitcoin network creates a powerful network effect that has increased its market acceptability, liquidity and value. A self-reinforcing cycle develops when more people use Bitcoin because it becomes more valuable to each individual user as more people use it. Read More
Helium Network sets migration to Solana for March
A 24-hour transition will take place on March 27, when the Helium blockchain will be halted. Proof-of-Coverage and data transfer activities will remain unaffected.
Communications protocol Helium Network has set March 27 as the date for its migration to the Solana blockchain and deployment of oracles as it seeks to improve scalability and reliability.
According to a Feb. 17 blog post, the transition will take place over 24 hours on March 27, during which time the current Helium blockchain will be halted. Proof-of-Coverage and data transfer activities will remain unaffected. A working group of community volunteers is being formed to oversee the migration process. Helium’s team stated:
"This upgrade will encompass all wallets, Hotspots, and Helium Network state, and will take place over a 24-hour transition period commencing at approximately 1500 UTC / 10:00 AM ET."
After the chain halt, validators will stop producing blocks and transactions won’t sync. A final snapshot of the blockchain will be taken after the migration of all accounts and tokens to the Solana blockchain, and hotspots will be minted as nonfungible tokens (NFTs), the team said.
“Note that any rewards generated by Proof-of-Coverage activity in the prior 24 hours will be available to claim in your Helium Wallet after the transition period. Oracles will update claimable balances, and Hotspot Owners will be able to use the new claim function.” 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.
