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Coinbase Predicts a Longer Crypto Winter – Cross-Chain Liquidity Can Save the Day
Liquidity remains locked up in silos across blockchains, staking pools and applications that don’t – or can’t – share resources when required. This causes a tremendous underutilization of the total value invested in crypto-based protocols.
But at a more practical day-to-day level, fragmented liquidity means inefficient price discovery and even slippage for larger trades – an obstacle to institutional participation.
Fragmented liquidity becomes an even greater problem during market downturns when the capital influx is low. This is when routing liquidity across protocols comes in handy – but that’s usually challenging, if not impossible.
Protocols thus get into a vicious cycle of lower liquidity and greater slippage, ultimately losing investors.
So much for the technical issues that innovation solves. But it’s noteworthy that the ongoing liquidity crisis is also due to macroeconomic factors beyond the industry’s control. Read More
MetaMask Launches Ethereum Staking Marketplace
The most recent product that MetaMask Institutional has to offer is a staking marketplace that is designed to make the process of institutional staking for Ethereum more straightforward. This action represents a big step forward for institutions who are working for validator status on the Ethereum network.
Institutions who make use of MetaMask's institutional-grade wallet and custody service now have the ability to handle their Ether (ETH) staking via a total of four different vendors. These vendors are ConsenSys Staking, Allnodes, Blockdaemon, and Kiln. The staking marketplace will provide an alternative to solo staking that is more streamlined and will make it simpler for institutions to participate in the Ethereum network as validators.
Because of the many costs, terms and conditions, rebates, and reporting criteria involved in institutional staking, a new marketplace for staking has been developed in order to handle this complexity. The solution provided by MetaMask streamlines the procedure and makes it easier for institutions to use it.
It is anticipated that the new offering would entice other institutions to engage in the Ethereum network, which will subsequently increase the network's decentralization as well as its security. Read More
Every Third US Crypto Investor Was a Victim of Theft: Kaspersky Report
Kaspersky urged people to be more careful when storing their passwords, adding that 14% of investors have not made any efforts to do so.
A study conducted by the cybersecurity company Kaspersky determined that approximately a third of the US crypto investors have had some portion of their stash stolen by hackers.
Bad actors usually con victims by luring them to enter a counterfeit website or urging them to join a dubious investment platform.
‘People Need to Take Care to Protect Themselves’
Kaspersky surveyed 2,000 American adults to estimate that around 30% of those who have hopped on the crypto bandwagon had become victims of theft. The average value of the lost assets was nearly $100,000, while 15% of the respondents admitted parting with up to $1,000,000 worth of tokens.
Bad actors predominantly scam individuals via fraudulent websites or fake investment platforms, as the majority of victims were aged 18-24. Just 8% of those older than 55 had some assets siphoned due to such reasons. Read More
De-dollarization: Do all roads eventually lead to Bitcoin?
The U.S. dollar's reign as the reserve currency of the world could be coming to an end. CryptoSlate's latest market report explores the de-dollarization of the world to find what role will Bitcoin play in the global economy.
The U.S. dollar’s reign as the reserve currency of the world could be coming to an end. CryptoSlate’s latest market report explores the de-dollarization of the world to find what role Bitcoin will play in the global economy.
The U.S. dollar has been the chosen medium for international trade and the global reserve currency for 79 years. The Bretton Woods Agreement of 1944 established gold as the basis for the U.S. dollar and pegged other currencies to the dollar’s value.
It was the first time in history that a group of nations negotiated a global monetary order, which proved successful in the years following World War II. The system was secured because the U.S. owned over half of the world’s gold reserves. Read More
What Does The Wallet Do? What Does It Mean For You?
The launch of the Markethive wallet is approaching, so it’s time to start beating the proverbial drum. It is the start of an exciting time with the advent of many integrations to follow the release of the wallet that will bring Markethive into prominence as an unprecedented platform. The combination of inbound marketing, social media, digital broadcasting, video, conference rooms, e-commerce, gamification, etc.
Markethive is a blockchain-driven crypto economy, all-inclusive, with a distributed database system required for this decentralized, monolithic global project. We’re almost there with the release of the wallet that will initiate entrepreneurial sovereignty and open the floodgates of this divine enterprise with its plethora of systems and services, including the new interface and dashboard.
We now have a complete working wallet with the Solana Network, and we also have a fully functional crypto merchant account. The Markethive wallet is being polished with the finishing touches, keeping mindful that it’s not just a simple wallet but a comprehensive, dynamic engine centralized for you that powers your platform and business.
Markethive is fundamentally a sophisticated inbound marketing and storefront platform, integrated with a social network, and not just another social media platform you see popping up to counter the media tech giants we’ve come to know as oppressive, censoring you and using your personal data for their own gain. Read More
An overview of fake product detection using blockchain technology
Blockchain technology can aid in the discovery of fake products by offering a tamper-proof and transparent record of the entire supply chain, making it simpler to trace and verify the authenticity of products and enabling the prompt identification of any fraudulent activity.
Blockchain technology can be used to increase supply chain traceability and transparency, which can aid in identifying and stopping the sale of counterfeit goods. Blockchain establishes an immutable and transparent record of a product’s path from maker to end-user by documenting every transaction and movement of a product on a decentralized ledger.
Let’s use the supply chains for medications as an example. According to the World Health Organization, one in 10 medical products — e.g., medicines — in developing nations are fake, and this issue is equally common in developed nations. By establishing a safe and transparent supply chain for medications using blockchain technology, it will be simpler to identify and stop the distribution of fake medications.
Every time a drug changes hands in a supply chain built on blockchain technology, the transaction is documented on the blockchain, producing a transparent and unchangeable trail of the product’s travels. Cryptographic hashes are used to safeguard the records, making it hard for anyone to alter the records without being noticed. Read More
Polygon’s ‘holy grail’ Ethereum-scaling zkEVM beta hits mainnet
Ethereum layer-2 scaling platform Polygon has released its zkEVM to mainnet beta, allowing developers to deploy smart contracts with increased finality and lower costs.
Polygon has released its open-source zkEVM Ethereum scaling technology to the mainnet, promising reduced transaction costs and increased throughput of smart contract deployments.
Polygon’s zkEVM is a zero-knowledge rollup (ZK-rollups) scaling solution equivalent to the Ethereum Virtual Machine. ZK-rollups increase throughput on Ethereum’s blockchain by batching computations and state storage to layer-2 platforms. The technology allows thousands of transactions to be batched off-chain, with a proof containing a minimal data summary posted to the Ethereum mainnet.
Polygon’s zkEVM is a type of ZK-rollup that mimics the transaction execution environment of Ethereum’s mainnet. The open-source zkEVM is touted to allow decentralized applications (DApps) to scale through transaction batching, unlocking higher performance.
Gas fees are also set to be reduced for DApp users, which could drive wider adoption, while the use of zero-knowledge proofs sees Polygon zkEVM inherit Ethereum’s network security. Lastly, equivalence with Ethereum means that developers can simply copy across existing smart contracts to Polygon’s zkEVM. Read More
A friend in need: How the crypto industry reacts to recent bank bailouts
With a focus on sovereignty and creating an alternative to traditional financial systems, how is the crypto community reacting to government intervention in the recent bank crisis?
In its early days, crypto enthusiasm was fuelled by the promise to cut the rigged banking system out of the people’s basic need to exchange goods and funds. To some degree, it still is. But as digital assets become more and more intertwined with a larger financial market, this tension gradually fades away.
The recent wave of partial bailouts of failed institutions such as Silvergate Bank, Signature Bank and Silicon Valley Bank (SVB) has not raised any concerns among the crypto community. Moreover, the United States Federal Reserve System came as a saviour, at least in regard to USD Coin issuer Circle, which kept a significant portion of its reserves in Signature Bank and SVB.
If the Fed decided to let the banks fail, we would probably have witnessed another sharp dip in the crypto market and not the optimistic resurgence of the last two weeks.
Does this mean that the crypto industry has come to a point where it is highly dependent on traditional banking and cannot contrapose itself as an alternative anymore? Is that kind of interconnectedness desirable for digital assets or should the industry create some distance from traditional finance (TradFi)? Read More
7 details in the CFTC lawsuit against Binance you may have missed
Within the 74-page complaint, the CFTC has labelled Ether, Binance USD, Tether and Litecoin as commodities along with Bitcoin, and made a few other startling claims.
The surprise lawsuit from the Commodity Futures Trading Commission against crypto exchange Binance sent shock waves across the markets on March 27.
In addition to allegations that Binance manipulated markets and lacked compliance efforts, the regulator has also accused the exchange of not cooperating with investigative subpoenas and obscuring the location of its executive offices. Binance has rejected many of the allegations.
However, the devil is in the details when it comes to the 74-page complaint. Here are a few interesting snippets you may have missed. 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.
