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Robinhood Delists Solana, Cardano, And Polygon
Trading app Robinhood will remove Solana, Cardano and Polygon from its platform come June 27. The move comes after the SEC alleged that several crypto tokens are unregistered securities.
Robinhood Markets Inc. announced today that it would end support for Solana (SOL), Cardano (ADA), and Polygon (MATIC) as of June 27.
No Other Coins Will Be Affected:
The trading app informed users they would no longer be able to trade the tokens on its platform just days after the SEC labelled several popular cryptocurrencies unregistered securities. The regulator made the allegations in a lawsuit against crypto exchange Binance and its CEO, Changpeng Zhao.
The lawsuit names Cardano, Polygon, Solana, Cosmos Hub (ATOM), Filecoin (FIL), Decentraland (MANA), Algorand (ALGO), The Sandbox (SAND), Coti (COTI), and Axie Infinity (AXS). The suit also identified the BUSD and BNB stablecoins as securities.
Robinhood limited its delisting to SOL, ADA, and MATIC and said to users that no other coins would be affected and would remain safe on its platform. Read More
Is blockchain technology ready for high-storage applications?
What does the blockchain space need to enable the development of high-storage apps?
Web3 — the third generation of the internet — refers to a decentralized and distributed version of the web that uses blockchain technology, and other decentralized technologies, to enable greater user control, privacy and data ownership. It aims to redefine how we interact with digital services, moving from traditional centralized models to decentralized peer-to-peer networks.
At its core, Web3 is built on blockchain technology, which is a distributed ledger that maintains a cryptographically-secured, continuously growing list of records called blocks. This decentralized nature enables direct peer-to-peer interactions.
Web3 brings several key features and capabilities with the potential to revolutionize high-storage applications. Examples of high-storage applications include content delivery networks (CDNs) to host images and other visual media, online gaming platforms, and blockchain-based websites.
Unlike traditional centralized systems, Web3 ensures that no single entity has complete control or ownership over data. This decentralized approach makes the data resistant to censorship, manipulation, or single-point-of-failure risks, thereby enhancing data integrity and availability. Read More
Here’s how hackers are using mining pools as mixers: Chainalysis
A wallet linked to ransomware attacks funnelled funds through a mining pool to make it seem like the digital assets were earned through mining.
While good actors within the crypto space channel their creativity toward building new things, bad actors use the same energy to devise more ingenious ways to hide their ill-gotten gains.
A new report from blockchain analytics firm Chainalysis shows how wallets involved in ransomware attacks are turning to crypto mining pools to launder the funds acquired through exploits.
According to the firm, a highly active wallet address from what it described as a “mainstream exchange” has received funds from wallets and mining pools linked to ransomware. The deposit address received almost $100 million in digital assets, with $19.1 million coming from ransomware addresses and $14.1 million from mining pools.
According to Chainalysis, the ransomware actor sent funds to the exchange through a mining pool. Through this, they can “avoid triggering compliance alarms” within the exchange. Read More
Polygon Proposes New Ecosystem Council
Polygon, the renowned Ethereum scaling solution, recently proposed a new decentralized governance model aimed at enhancing its network's security, upgradeability, and robustness.
This proposal, revolving around the establishment of an "Ecosystem Council," will redefine how system smart contracts within the Polygon environment are managed and upgraded. This proposal indicates the continuous efforts by Polygon to strike a perfect balance between community-driven governance and efficient decision-making in a decentralized network.
A New System For Decentralized Governance:
System smart contracts represent a fundamental element of the blockchain infrastructure. They can directly or indirectly influence user funds and the infrastructure's functioning. A crucial aspect of these contracts is their upgradeability, which allows seamless migration to improved versions under specific circumstances. The importance of this feature is evident in various Layer 2 (L2) solutions, such as Optimism, Arbitrum, and zkSync, where an efficient means of patching bugs and upgrading pivotal architecture components is required.
According to the proposal, the Ecosystem Council would comprise technically proficient and value-aligned individuals, elected and removable by the community. This council will be responsible for performing timelock-limited upgrades to system smart contracts across Polygon networks, such as Polygon PoS and zkEVM. Read More
Since Phase Two of the wallet has been integrated and working successfully since November, it’s time to introduce Phase Three. The completed wallet has been installed on the Markethive site. Phase Three is the final stage of the wallet that is now operational for Entrepreneur One (E1) members in a type of Beta version, if you like, before it officially opens to the Markethive community.
This is a culmination of 5 years of intense early work to reach this point, and we are on that cusp. E1s can currently view the new look of the wallet, particularly the Hivecoin Report. Markethive’s engineers are now systematizing the other fundamental components needed for a synchronous and successful wallet launch. These are the Entrepreneur One Exchange, Markethive Premium Upgrade, and the PROMOCODE system, housed in the new capture page for MARKETHIVE.NET and is for E1s only.
The non-E1 KYC-approved members will see the banner announcement pictured below until its full release. They also have the opportunity to upgrade to Entrepreneur One to gain early access and take advantage of all the benefits offered, including becoming a shareholder by securing the ILP (Incentivized Loan Program), which will pay a monthly dividend on the net profit of Markethive’s revenue. Read More
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Why Blackrock Bitcoin Spot ETF Is A Real Worry
With Blackrock’s recent spot ETF application many Bitcoincoiners are elated. However, should they be worried about this particular move by the $10 trillion asset manager?
“I have not heard from any one client looking to buy a cryptocurrency at this time. Right now I can tell you that Worldwide, I have not heard from one client that said I need to be in this.
Larry Fink.
The Blackrock CEO did go on to say back in 2018 that his company would look back into crypto when it became more “legitimised”. Nearly 5 years later Blackrock is doing exactly that - but with crypto being singled out for extremely rough treatment from the SEC it could hardly be said that crypto has reached the legitimacy stage.
When such a massive and powerful institutional entity as Blackrock files an application for a Bitcoin ETF, when so many have failed, it might be guessed that there will have been some quiet conversations behind the scenes and that some plan could be in place to exert control over the premier crypto asset. Read More
Web3 usernames may see greater adoption due to recent advancements
New developments such as free usernames, cross-chain names and chat functions may lead to more addresses being associated with a name.
Ever since the Ethereum Name Service (ENS) was launched in 2017, Web3 users have been able to replace the long strings of characters that make up a crypto address with a more easily memorized blockchain username or Web3 domain name. For example, Ethereum users can now send crypto to the network’s founder, Vitalik Buterin, at his username, vitalik.eth, without knowing that his address is 0xd8da6bf26964af9d7eed9e03e53415d37aa96045.
But despite this advancement making it much easier to identify users, hardly anyone has taken advantage of it. There are over 200 million unique addresses on Ethereum, yet only 2.2 million .eth names were registered as of January. This means that at least 97% of Ethereum addresses are not associated with an ENS username.
This lack of usernames creates user experience problems in the Web3 ecosystem. Just imagine if early email addresses had consisted of long strings of characters that looked like 0x7a16ff8270133f063aab6c9977183d9e72835428 or 0x3A7937851d67Ee2f51C959663749093Dc87D9C9a. If this had been the case, email may not have survived as a practice.
But despite this initial lack of adoption, there is some evidence that the tide may be turning in favour of Web3 usernames. A few recent advancements in wallet and messaging apps may onboard more users than ever before.
One of these advancements is better wallet integration with free usernames. Read More
Polygon co-founder proposes zkEVM ‘validium’ upgrade to improve security
Mihailo Bjelic suggested that adding zero-knowledge-proof technology could bolster the network’s security while still keeping fees low.
Polygon co-founder Mihailo Bjelic has proposed upgrading the Polygon proof-of-stake (PoS) network to a “zkEVM validium” version, according to a June 20 forum post. If the upgrade is implemented, the new version will rely on zero-knowledge proofs to increase security.
Polygon PoS is an Ethereum scaling solution that has over $900 million in total value locked within its contracts and does over 2 million transactions per day. It was first launched in 2019. In March, the Polygon team launched a second network, Polygon zkEVM, that uses zero-knowledge proof rollups to scale Ethereum.
In the June 20 post, Bjelic proposed to also upgrade the old PoS network to a zkEVM — or zero-knowledge Ethereum Virtual Machine — version, making both networks rely on zero-knowledge proofs. However, unlike the network that just launched in March, the new version of Polygon PoS will not be a “rollup,” Bjelic stated. In other words, it will not store compressed transaction data on Ethereum. Instead, it will be a “validium” that stores only validation proofs on layer 1, while the actual transaction data will be kept on a separate chain. Read More
Binance to implement Lightning Network nodes for enhanced Bitcoin transactions
Binance hopes to enable smooth BTC deposits and withdrawals while tackling network congestion issues.
On June 20, cryptocurrency exchange Binance announced that it had commenced operating nodes on the Bitcoin Lightning Network as a crucial step toward integrating it for deposits and withdrawals.
In a tweet, Binance acknowledged users who noticed their new Lightning nodes and confirmed their presence. However, Binance highlighted that additional technical work must be completed before the Lightning integration is fully implemented, promising to provide updates along the way.
In response to the congestion witnessed on the Bitcoin network on May 7, Binance announced its plans to incorporate the Lightning Network to alleviate bottlenecks. In a tweet, Binance mentioned its ongoing efforts to enable BTC Lightning Network withdrawals, recognizing its potential in such situations. The increased congestion was primarily caused by a surge in BRC-20 transactions, with the popularity of memecoins being a contributing factor. 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.
