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Bitcoin Runes Coming to Magic Eden After Ordinals Bet Pays Off
The upcoming Runes fungible token standard will “supercharge the Bitcoin ecosystem,” a Magic Eden co-founder told Decrypt.
Cross-chain NFT marketplace Magic Eden, which recently jumped to the top of the pack amid growing interest in Bitcoin Ordinals, announced Friday that it plans to support the upcoming Runes fungible token standard on Bitcoin.
“Ordinals, Rewards, Runes. The Future of BTC is on Magic Eden,” the marketplace tweeted along with a teaser video.
The Rune protocol is set to launch on Bitcoin’s mainnet following the halving, which is expected to take place on April 20. The halving is the quadrennial event baked into the Bitcoin protocol that cuts in half the BTC miners receive for supporting the network. The move slows the expanding supply of Bitcoin, and typically also boosts the price of the asset.
Runes is a fungible token standard from Casey Rodarmor, the Bitcoin developer who created the Ordinals protocol for inscribing media on the Bitcoin blockchain. Read More
What are smart contract wallets?
Smart contract wallets are self-executing, scripted agreements that automatically enforce the terms of the agreement, providing users with more power and security than traditional wallets.
Smart contract wallets are considered decentralized applications (DApps) as they are built on a blockchain and enable users to manage their digital assets using smart contract technology. These wallets provide users a means to keep crypto assets in self-custody. Moreover, they facilitate functions like bundled transactions, the ability to pay gas fees in a different token, customizable recovery options and more.
Advantages smart contract wallets bring in include: Read More
Defragmenting DeFi: How users can manage their DeFi portfolio
Velvet Capital aims to become the operating system for DeFi asset management. Here’s how it aims to simplify DeFi for everyone.
Decentralized finance (DeFi), where users retain custody of their funds, has become a safer alternative for crypto investment after the public trust has declined in centralized exchanges (CEXs) due to several high-profile collapses.
Despite DeFi’s promise to mitigate the risks associated with CEXs, its highly fragmented nature hinders widespread adoption. With over 3,000 protocols across 227 chains, the DeFi ecosystem presents a daunting landscape for even the most experienced investors, making it challenging to set up comprehensive strategies without significant investment in time and development resources.
Thankfully, DeFi offers innovation faster than any other industry in recent history while becoming simpler, quicker and cheaper with each new step. The latest DeFi innovation has arrived in the form of Velvet Capital, a DeFi asset management platform that aims to simplify managing DeFi portfolio by allowing anyone to set up advanced DeFi strategies in minutes. Read More
Bitcoin Runes Launch at the Halving: Here's Everything You Need to Know
The creator of Bitcoin’s Ordinals protocol is debuting a new fungible token standard to rival BRC-20. Here’s everything we know about Runes.
Bitcoin is front and center again, and orange coin lovers everywhere have plenty to be excited about: new all-time high prices, the upcoming halving, rising demand for Ordinals—and soon, something totally new called Runes.
And while Runes won’t hit Bitcoin until the halving—currently set for April 20 as of this writing—when the supply of newly minted BTC is once again cut in half by slashing miner rewards, the project is already getting a lot of hype and attention. Here’s what you need to know. 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
What are Bitcoin whales and how to spot them?
Follow Bitcoin whales’ trails: track their tactics, from manipulation to stop-loss hunting, and explore their market impact for navigating crypto trading.
Bitcoin whales are people or organizations with substantial Bitcoin holdings who are capable of influencing the market through their trading tactics.
The term “Bitcoin whale” is colloquially used to denote a holder with a significant stake compared to smaller participants, often referred to as “smaller fish” within the market. The owner of the wallet or cluster of wallets controlled by one entity may be an individual or a group that is pooling funds to make large investments.
Their vast holdings have been accumulated through mining, early investments and other methods. Whales have access to substantial Bitcoin holdings, which gives them the power to manipulate the market by making significant asset purchases or sales that result in price fluctuations. The abundance of whales and extreme volatility are frequently linked in the cryptocurrency space. Read More
What is the Interledger Protocol, and how does it work?
The Interledger protocol (ILP) facilitates payments across two or more payment networks, aiming to enable direct transactions while also allowing for the involvement of intermediaries where necessary. It is a payment protocol fostering interoperability among diverse financial systems.
By seamlessly connecting ledgers from several institutions, the open-source Interledger protocol aims to streamline inter-bank transactions, reducing processing times and costs for participants. Like the internet routes information packets, Interledger operates as a network of computers that enables the transfer of value across separate payment networks.
Within the Interledger network, nodes fulfil various roles: senders initiate value transfers, connectors serve as bridges between senders and receivers, facilitating currency conversion and forwarding value packets, and receivers accept the transferred value. While Ripple’s XRP (XRP) token can be used for settlements within the protocol, other settlement options are also available. Read More
Phishing scam thefts on Base are up 1,900% from January — Scam Sniffer
The near 1,900% surge in phishing scams on Base since January comes amid an explosion in total value locked on the Ethereum layer-2 chain.
Ethereum layer 2 Base has seen an 18-fold increase in cryptocurrency funds stolen from phishing scams in March compared to January figures, recent data shows.
Approximately $3.35 million was stolen from phishing scammers on Base in March alone, according to blockchain anti-scam platform Scam Sniffer.
It marks a 334% month-on-month increase from February’s tally of $773,900 and a massive 1,880% spike compared to January, when Base only lost $169,000 from phishing scams, according to monthly Dune Analytics data compiled by Scam Sniffer.
Binance’s BNB Smart Chain observed a similar surge in phishing scams in March, Scam Sniffer noted in an April 2 X post.
Approximately $71.5 million was lost to phishing scammers across all chains from 77,529 victims — beating out January and February’s tallies of $58.3 million and $46.8 million, respectively. Read More
Tether completes ‘gold standard’ security audit
The independent audit represents the highest level of security compliance an organization can demonstrate.
Tether has announced the successful completion of a System and Organization Controls 2 (SOC) audit — the highest level of security compliance that an organization can demonstrate. The audit was developed by the American Institute of Certified Accountants (AICPA).
The audit underscored Tether’s commitment to offering a secure user experience, according to Paolo Ardoino, the CEO of Tether, who wrote in an April 1 announcement:
“This compliance measure assures our customers that their assets and data are managed in an environment meeting the highest standards for data protection and information security. This independent validation of security controls is vital for Tether, demonstrating our commitment to being the world’s most trusted and compliant stablecoin.”
Tether has committed to undergoing annual SOC 2 audits to ensure its security practices remain consistent with the standards. Read More
Play-to-earn is out: ‘Challenge and Earn’ is the next major trend in Web3 gaming
Skill-based Web3 gaming promises a new era for gamers and blockchain enthusiasts. Here’s how the shift to the challenge-and-earn model seeks to change the GameFi landscape.
As Web3 space continues to evolve and expand, gaming has become a natural addition to what blockchain and its user-centric approach can improve. The gaming world met with decentralized finance (DeFi), and a new term — GameFi — was born.
Web3 gaming has become an instant hit because it offers players an opportunity to earn real-world value through digital assets like crypto and nonfungible tokens (NFTs) on top of the usual thrill of gameplay. Blockchain games have remained the top reason people use decentralized apps (DApps), accounting for over one-third of on-chain activity and attracting over 1.1 million daily users.
Initially celebrated for its play-to-earn (P2E) model, Web3 gaming promised a new era where gamers could earn substantial rewards for their time and skill.
Yet, the model faced significant hurdles, notably the inflationary pressure on token prices fueled by an oversupply of offerings and the volatile nature of crypto markets. This led to a highly competitive environment, with crypto-driven promotions often resulting in the rapid inflation and subsequent bust of token values, challenging the sustainability and attractiveness of Web3 games. 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.
