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Avalanche9000 goes live on testnet, unlocks $40M rewards for builders
Avalanche is going through its largest upgrade since the mainnet launch, unlocking more than $40 million in retroactive rewards.
The Avalanche network is going through its largest upgrade since the platform’s mainnet launch, with over $40 million in rewards set to be unlocked to its community.
According to a Nov. 25 announcement, Avalanche9000 is now live on the Fuji testnet, with its mainnet launch expected in the coming months. The upgrade will reduce deployment costs by 99.9%, allow interchain communication and unlock over $40 million in retroactive rewards to developers.
The upgrade is based on technical improvements from the Etna Upgrade and community proposals ACP-77 and ACP-125. Among the key changes is the rebranding of Avalanche’s subnets, now called layer 1s.
According to Avalanche, the revamp does not introduce changes in the way its subnets operate, still allowing horizontal scaling rather than compounding dependencies on custom blockchains.
Avalanche’s L1 networks will operate as permissionless or permissioned networks, each offering a different level of control over validator participation and rewards. Read More
What is the real potential of The Open Network (TON)?
In Cointelegraph’s latest video, we break down the rise, recent challenges and future potential of The Open Network (TON).
The Open Network (TON), once hailed as the fastest-growing blockchain of 2024, is facing a significant slowdown. Just a few months ago, it reached an impressive 100 million wallets, thanks to its integration with the Telegram messaging app.
The rapid rise of TON can be attributed to its distribution through Telegram’s Mini Apps and games. “We were unable to find the kind of distribution outlets until Telegram came along and opened up their ecosystem,” Animoca Brands chairman Yat Siu pointed out.
The ease of access, with Mini Apps and a wallet directly integrated into Telegram, made it easy for users to engage with the blockchain.
However, the excitement has since faded. Network activity has dropped sharply, and prices of TON-based tokens have plummeted. The initial surge in users, many of whom were attracted by airdrops from games like Hamster Kombat and Notcoin, has led to a drop-off.
“If you give stuff for free, nobody will value it,” said Cointelegraph market analyst Marcel Pechman, referring to how many users cashed out immediately after receiving free tokens. Watch the podcast
Sui to launch Bitcoin staking
Starting in December, Bitcoin holders will be able to stake BTC on Babylon, a Bitcoin layer 2, from the Sui network.
Babylon Labs and Lombard Protocol are preparing to bring liquid Bitcoin staking to Sui, the burgeoning layer-1 blockchain network, Sui and Babylon disclosed on Nov. 25.
Starting in December, Bitcoin holders on Sui will be able to stake BTC to Babylon, a Bitcoin layer-2 (L2) network, and mint LBTC, Lombard’s liquid staking token (LST), according to the announcement.
The initiative “aims to onboard Bitcoin liquidity to the Sui ecosystem, growing the decentralized finance ecosystem with LBTC as a collateral asset, and inviting Bitcoin holders to do more with their Bitcoin via LBTC,” Sui and Babylon said.
They said LBTC “will become a core asset in Sui’s DeFi ecosystem, enabling lending, borrowing and trading to unlock Bitcoin’s $1.8 trillion USD worth of liquidity on Sui.” Read More
Shifting Bitcoin from digital gold to a DeFi powerhouse through innovation
An innovative method for scaling and expanding Bitcoin’s functionality allows developers to build cross-chain DApps users need while preserving the core ethos of self-custody.
Portal to Bitcoin aims to transform Bitcoin into a practical foundation for DeFi applications while maintaining user control and self-custody.
The excitement around Bitcoin has soared to new heights following the United States election, with a ripple effect spreading across the entire market. The total crypto market cap has reached a record $3.12 trillion, rivaling France’s GDP.
Analysts suggest that Bitcoin still has more ammunition and has almost hit a six-figure valuation. Yet, behind these eye-popping headlines lies a reality check: deep-rooted challenges continue to hinder the growth of both Bitcoin and the broader decentralized finance (DeFi) sector.
Persistent issues like scalability, which limits the network, and security risks in custodial systems, where users must entrust their assets to third parties, remain critical obstacles to creating applications that users need to interact across blockchains. Also, high transaction costs are deterring everyday users, while the ongoing difficulty of integrating assets across different blockchains only exacerbates these challenges.
Fortunately, evolving technologies offer promising ideas to tackle the fundamental challenges of the crypto industry. Read More
Exploring The IndoEx Cryptocurrency Exchange The First Trading Platform To List The Markethive Token - Hivecoin
The IndoEx exchange aims to cater to a broad spectrum of investors, including newcomers, seasoned traders, and institutional investors, rather than focusing on a specific target audience like most crypto trading platforms. The platform's primary objective is to offer a robust and efficient infrastructure that enables seamless and rapid transactions of crypto assets.
As the IndoEx trading platform is the first crypto exchange to list Hivecoin, this article delves deeper into the platform, exploring it further to bring awareness to the Markethive community. Since its establishment in 2019, IndoEx has gained prominence in the alternative cryptocurrency trading sector due to its reasonable commissions, secure wallets, high trading volume, and fast transactions.
The trading platform, with offices in the United Kingdom and Estonia, provides close to 300 trading pairs, can be used in 150 different countries, and supports a range of cryptocurrencies, including popular ones such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Tether (USDT), and Ripple (XRP), as well as notable alternative coins like DASH, Chainlink (LINK), and Solana (SOL). Furthermore, it accommodates less mainstream coins and tokens like NEO, Cardano (ADA), and EOS, amounting to 180 cryptocurrencies. Users can exchange these coins for traditional currency or trade them with one another.
The platform provides users exclusive access to newly launched tokens through airdrops, giving them a head start in discovering and acquiring new tokens with the potential for long-term growth. Beyond trading, users can also benefit from receiving free tokens that may significantly impact the global market. Furthermore, the platform hosts trading contests and an initial coin offering (ICO) launchpad, offering crypto enthusiasts a comprehensive suite of features. Read More
Turnkey blockchain provider to tackle industry’s complexity and privacy challenges
Blockchain solutions aim to simplify technology and enhance privacy, addressing barriers to mainstream adoption.
G6 Networks introduces turnkey blockchain solutions that prioritize privacy and ease of use to make blockchain technology accessible for both individuals and enterprises worldwide.
While the blockchain industry enjoys steady growth, it is not immune to common challenges that impede the widespread acceptance of any cutting-edge tech. Complexity, a scarcity of tangible products, barriers to enterprise integration and insufficient privacy measures have cultivated a perception that blockchain is exclusive to tech enthusiasts or speculative ventures — keeping many individuals and businesses from leveraging the full potential of the technology.
For many users, blockchain remains a convoluted concept. The intricate nature of blockchain systems often requires a steep learning curve, deterring those without a technical background. Additionally, the market is saturated with meme-driven projects and hype-based tokens, which dilute credibility and overshadow meaningful innovation.
Enterprises face their own set of challenges, particularly the lack of privacy in many blockchain products, which hampers their ability to adopt the technology for sensitive operations.
Recognizing these challenges, G6 Networks — a ready-to-go blockchain solutions provider — has introduced innovative offerings designed to address the industry’s core issues, aiming to make blockchain more accessible and practical for everyday use. Read More
7 Million UK Adults Now Own Crypto: Financial Conduct Authority
Research from the regulator found that crypto ownership in the UK has increased to 12% from 10%, as it delivers plans to regulate crypto.
UK regulator the Financial Conduct Authority (FCA) has released new research revealing that 12% of UK adults now own crypto, up from 10% in previous findings.
According to the nationally representative study of 2,199 UK adults, the figure extrapolates to 7 million UK crypto holders, up from 5 million in 2022.
The average value of crypto held by people has increased over the same period, from £1,595 to £1,842. Among crypto holders, the number of adults holding more crypto has increased, too—with 19% now holding between £5,001 and £10,000 in crypto, versus 6% in the "previous wave."
In a statement shared with Decrypt, a spokesperson for crypto trade association CryptoUK said that the findings were a "watershed moment for the industry," adding that "crypto is now mainstream in the UK." Read More
How NFTs are Evolving to Add ‘Meaning and Story’: RARI Chain
Leading lights in the NFT space gathered in Bangkok to discuss the future of the technology and how creators are using it.
Non-fungible tokens (NFTs) are evolving to create more “value and utility” for their creators and users, according to a recent panel discussion on "Navigating the Evolving NFT Landscape" at the TEN by RARI x Refraction event in Bangkok.
While the creator economy is the “flagship use case” of NFTs for consumers and retail, “There's going to be a lot of other applications of NFTs which are just in the backend,” Jana Bertram, Head of Strategy at RARI Foundation, told Rug Radio creator Pukerainbow.
Users won’t know that NFTs power the application, she said, adding that, “nobody really will care—it's just something that functions, but it will be powered by those NFTs.” She pointed to RARI Protocol’s integration with multiple ecosystems and chains, adding that “this tech stack can be powering NFT growth in all these different ecosystems.” Read More
Crypto miner MARA wants US moving quicker to gobble up Bitcoin
MARA Holdings says there will soon be a heated race among nations to gather Bitcoin, and the US needs to step up its game.
Crypto miner MARA Holdings urged the United States to act more aggressively to “secure dominant positions in Bitcoin and Bitcoin mining,” claiming it’s a matter of national security.
“The United States faces an urgent need to secure its economic and national security interests,” MARA wrote in a Nov. 26 X post.
The miner added that the US needs to take the lead in holding Bitcoin just like it has with gold, particularly with the rising trend of de-dollarization — countries shedding reliance on the US dollar.
“The dollar is no longer directly backed by gold, yet holding substantial gold reserves remains a matter of national security,” MARA said. “These reserves provide the US with the ability to transact should foreign nations lose confidence in the dollar.”
MARA Holdings, formerly known as Marathon Digital, noted that the US holds just over 200,000 Bitcoin, and China is behind at about 190,000 BTC. 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
