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New Developments Happening in the Blockchain Space: 06-03-2024

Posted by Simon Keighley on March 06, 2024 - 8:22am

New Developments Happening in the Blockchain Space: 06-03-2024

New Developments Happening in the Blockchain Space 06-03-2024

Image Source: Pixabay


This platform aims to make seamless RWA tokenization possible

Real-world assets face liquidity, fragmentation and regulation issues in the investment realm — the solution lies in blockchain.

Real-world asset (RWA) tokenization tackles the liquidity and market fragmentation challenges of investing in assets like real estate and fine art by leveraging blockchain technology. CurioInvest together with CurioDAO Association launched Curio Chain to democratize access to high-value investments and streamline the tokenization process.

Traders have always coveted real-world assets like real estate, fine art and collectibles for their potential to yield returns in the investment world. However, their illiquid nature has traditionally limited liquidity, making it difficult for investors to quickly convert these assets into cash without significant loss of value.

The liquidity challenge, coupled with the fragmentation of markets — where each asset class operates within its own siloed ecosystem and regulatory framework — has further complicated cross-asset trading, increasing transaction costs and hindering seamless value transfer between different asset types. Read More


 

Stellar launches smart contracts following bug fix delays

The Stellar Development Foundation (SDF) has announced the deployment of smart contracts on the Stellar network, something it claims will help kick off “a new era” for its tech stack.

In a Feb. 20 statement, the SDF shared that Stellar network validators successfully introduced the “Protocol 20” upgrade, enabling new smart contract capabilities and initiating the phased rollout of its smart contract platform dubbed Soroban.

Stellar smart contracts will aim to provide a more user-friendly developer experience for those using the Rust and WebAssembly languages.

Soroban, the smart contract platform first deployed to the Stellar testnet in October 2022, employs features for scalability, such as predictable fees and independent resource pricing.

Stellar wrote that its smart contracts ecosystem would enable the development of new decentralized applications (DApps), allowing builders to construct novel protocols and other apps on the network. Read More


 

What the Bitcoin Halving and Bitcoin ETFs Mean for Supply and Demand

The upcoming halving is designed to reduce the rate of new Bitcoin available on the market. It's just one of many reasons to be bullish, ETF issuers say.

The resounding success of spot Bitcoin ETFs has been a boon for the price of Bitcoin, and its timing could not have been better. Why? The age-old principle of supply and demand. 

In April, Bitcoin will experience its next ‘halving’, an event that occurs programmatically on the Bitcoin blockchain roughly every four years. With this, Bitcoin rewards for miners, the individuals responsible for securing the Bitcoin network, will be cut in half as a way to keep inflation in check. For the newly minted ETF issuers, already riding a surge in demand since approval, this can mean a boost for Bitcoin.

Matthew Hougan, the chief investment officer for Bitwise, whose BITB ETF is among the 10 currently operating, calls the mix of supply and demand forces a "good recipe for higher prices.” Read More


 

South Africa eyes stablecoins and blockchain for digital payments

South Africa’s 2024 budget review highlighted the need for structural reforms and a focus on improving public financial management.

The annual budget of South Africa revealed its treasury’s plan to promote the adoption of digital payments, which includes analysing stablecoins and blockchain to “improve the lives and livelihoods of marginalized groups.”

The country’s 2024 budget review highlighted the need for structural reforms and a focus on improving public financial management. While detailing its plan to promote digital payments, the National Treasury announced an upcoming policy change on crypto assets, specifically for stablecoins.

“In 2024, the Intergovernmental Fintech Working Group will publish additions to include “stablecoins” as a particular type of crypto asset.”

The working group published a crypto regulation paper in June 2021, which will be amended to include stablecoins into the crypto asset class in addition to finalizing a diagnostic of the domestic stablecoin landscape. Read More


 

The Central Hub Of The Markethive Economy - The Wallet

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


 

Bitcoin hosts classic Nintendo 64 emulator via Ordinals

Ninjalerts CEO Trevor Owens told Cointelegraph that there’s no better place to immortalize data than on Bitcoin.

A group of on-chain ninjas has inscribed an emulator for the classic home video game console Nintendo 64 (N64) on the Bitcoin network as they campaign for the preservation of classic video games using the blockchain. 

Trevor Owens, the CEO of Bitcoin Ordinals portfolio tracker Ninjalerts, announced a development in their company’s ongoing “Pizza Ninjas” project. Owens said that their developers were able to inscribe the N64 emulator on Bitcoin using the Ordinals protocol. The executive told Cointelegraph that this is part of their effort to preserve “critically endangered games.”

While games being put on the blockchain may raise eyebrows due to the existence of copyright, Owens assured the community that they are doing this project legally. The Ninjalerts CEO explained that they are not putting any games under copyright on-chain. Instead, they are choosing games that are in the public domain and will inscribe those. Read More


 

Wormhole and AMD Forge Alliance to Revolutionize Blockchain Interoperability 

Wormhole, an interoperability platform for blockchains, relies on a network of validators called “Guardians” to ensure security and consensus in a Byzantine fault-tolerant (BFT) manner. This system requires users and applications to trust not only the originating blockchain’s consensus mechanism but also Wormhole’s consensus process.

Looking ahead, Wormhole plans to integrate zero-knowledge (ZK) proofs to enhance the platform’s trustworthiness. However, the adoption of ZK proofs introduces significant computational demands, complicating the maintenance of the network.

AMD is stepping in to address this challenge by providing its enterprise-grade FPGAs, which are designed to handle large-scale computational tasks efficiently. These FPGAs can parallelize extensive workloads, enabling the processing of millions of messages across multiple blockchains. Read More


 

Charles Hoskinson Signals Alert of Legacy Finance's Creeping Influence in Crypto

In a recent video titled “Legacy is Eating Crypto,” Charles Hoskinson, the co-founder of Ethereum and Cardano, voiced concerns about the growing influence of traditional finance within the cryptocurrency sector. Hoskinson’s message was a call to arms for the crypto community to push back against existential threats posed by the encroachment of legacy financial systems and the dominance of asset-backed stablecoins such as USDT and USDC.

Hoskinson pointed out a stark reality: despite stablecoins representing only about 10% by value of the crypto market cap, “they dominate the on-chain transaction volume – about 70% of all transaction volume. So, from a crypto perspective, ETH and Bitcoin take a backseat to USDC and USDT. These are, by volume, the value transfer mechanisms of our industry. They represent the huge majority of on-chain traffic and value transfer in our industry now.”

This dominance, he argues, centralizes control within the crypto space, as these stablecoins are asset-backed and therefore subject to regulations and controls of specific jurisdictions. This centralized influence, according to Hoskinson, could dictate the direction of defi economies, undermining the decentralized essence of crypto. Read More


 

The New Wave in DeFi Staking – Liquid Restaking Tokens and Blast

LRTs (liquid restaking tokens) and the emergence of layer two solution Blast are powering a new wave in DeFi staking.

LSD (liquid staking derivatives) have been an area in the Ethereum ecosystem that has demonstrated exemplary innovation and adaptability, especially after the Shanghai upgrade.

Lido Finance, a platform that played a critical role in refining the Ethereum staking mechanism, was where it all started.

With its innovative solution, Lido unlocked the liquidity of staked assets in Ethereum, solving a major issue in the Ethereum staking mechanism.

Lido allows users to earn staking rewards on Ethereum without locking up assets, marking a major shift from the traditional rigid paradigm of staking. 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.

 

 

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