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How to stake Polkadot (DOT)
Still haven’t figured out how to stake Polkadot (DOT)? Worry not; this article provides a step-by-step guide on where and how to stake DOT.
Unlike restricted proof-of-work (PoW) blockchains like Bitcoin, the Polkadot blockchain allows cross-blockchain transfers of any asset or data, facilitate more transactions per second and needs less infrastructure.
Polkadot uses a nominated proof-of-stake (NPoS) blockchain centred on the interoperability of parachains that connect to and are secured by the Relay Chain. Validators can validate both the Relay Chain and the parachains, making it a flexible and scalable blockchain solution.
The native token on the Polkadot blockchain is named DOT. It can be used on the Polkadot network for trading, staking, bonding, paying transaction fees and voting in network governance.
This article highlights what Polkadot staking is, how it works, how to stake DOT, its requirements and rewards, and why token-holders should stake DOT. Read More
Fantom (FTM) Founder Andre Cronje Drops Hint About New Crypto Bank
Fantom (FTM) co-founder Andre Cronje is teasing the launch of a new cryptocurrency-friendly bank later this year.
Cronje tells his 384,500 Twitter followers that a bank providing crypto-related financial services may launch later this year.
“Need a card, or just payments infrastructure? If the latter, I can add you to our closed beta. If card, that will be available by end of 2023, crypto-friendly bank available to public within this year.”
However, Cronje says that the services will likely not be available to the citizens of the United States, citing an anti-crypto stance from US regulators.
“Legally we can, but given the USA’s stance, we probably won’t accept US citizens.”
Cronje also says that the financial services would fall under the know-your-customer (KYC) guidelines and regulations, which apply to traditional financial services. Read More
Visa New Crypto Initiative
Visa, a leading global payment corporation, has announced its latest initiative focused on stablecoin payments. This move is part of the company's ongoing exploration of the potential benefits of the cryptocurrency industry. Visa's latest cryptocurrency-related endeavour was unveiled by Cuy Sheffield, the company's head of crypto, via Twitter on April 24th. Visa made the announcement. A new cryptocurrency product has been developed to promote the extensive use of public blockchain networks and stablecoin transactions.
Visa is on the hunt for software engineers with specialized skills in programming, backend systems, and Web3 technologies. The goal is to create innovative products that simplify digital commerce in our daily lives. The organization is seeking potential employees with prior experience in writing and debugging smart contracts using Github Copilot and other AI-assisted engineering tools. In the latest job posting, the preferred qualifications for the position include a comprehensive understanding of layer 1 and layer 2 solutions, proficiency in writing smart contracts using Solidity programming language, and familiarity with both public and permissioned distributed ledger networks, security protocols, private key custody, and Ethereum enhancements like ERC-4337. Read More
Web3 social media protocol launches scaling solution to provide instant posts
The new scaling solution relies on Bundlr, a decentralized storage platform built on Arweave, for mass storage of social media data.
The team behind Lens, a Web3 social media protocol, has announced the launch of a new solution to scale blockchain social media apps. Called “Momoka,” the new network processes and stores posts, comments and shares, taking this data off the Polygon network and thereby increasing scalability for Lens, according to an April 26 announcement viewed by Cointelegraph.
Lens is a blockchain protocol that allows users to form a portable “social graph,” or digital set of connections, between themselves and others. When users form a connection with another person on one Lens app, they can transfer those connections to any other app built on the protocol. There are 17 different Lens-based social media apps listed on the protocol’s official website, including Buttrfly, DumplingTV, Lenster, Lenstube and others.
Lens runs on the Polygon network, a layer 2 of Ethereum. Read More
We have a lot to be grateful for within Markethive. It’s like stepping out of the rat race into an oasis of humanity at its best. As an inbound marketing, business-based blockchain platform with an inherent entrepreneurial spirit, we have all the tools to get our message out to the whole world. We have a social media interface with a collaborative ethos rarely experienced on legacy social media.
We are starting to see new integrations in the blogging section in preparation for the customized, more intuitive interface and dashboard of Markethive and, of course, the Markethive Wallet that will facilitate the Merchant accounts for members as well as personal transactions, the Vault, etc.
The new-look Blogcasting Hub is located at the top of all blogs in the system. Blogcasting is a term introduced by Markethive and is an enhanced broadcasting system. In the traditional broadcasting sense, only the people who physically subscribe to your blog or newsletter are usually notified of your updates via email.
With this blogcasting system, your social networks are informed of your blog as and when you publish them. What this means is the potential reach is into the millions. Read More
Kraken ‘Fighting the Fight’ Behind the Scenes With Regulators
Kraken may not be making as much fuss as Custodia, but it is still battling to get the same rights as top banks, its chief legal officer said.
Crypto exchange Kraken originally submitted an application for a Federal Reserve master account October 2020. And as its chief legal officer pointed out, the U.S. central bank still hasn't rejected it.
On Decrypt’s gm podcast, Marco Santori also said that the San Francisco-based firm was “fighting the fight” behind the scenes to get connected to the same FedNow network that all other big financial institutions use to settle transactions.
Getting a master account is a hot topic in the crypto world because it would allow crypto firms access to the same system all major, traditional, financial firms use to settle transactions.
But it’s not easy: Right now, crypto bank Custodia is currently suing the Fed over its membership denial.
“Kraken does a lot,” he said. “We do a lot behind the scenes. You don’t see us under the spotlight, probably as much as you see other companies but sometimes it’s not the most effective way to get things done,” he said when asked why the exchange wasn’t fighting the Fed as publicly as Custodia. Read More
Solana Labs Preps ChatGPT Plugin for Real-Time Blockchain Analysis
The new tool will make it easier to interact with the Solana blockchain, even enabling NFT purchases.
Solana Labs, the company that represents the founders of and core contributors to the Solana blockchain, is entering the world of artificial intelligence with a ChatGPT plugin. The upcoming plugin will let users search the Solana blockchain using OpenAI’s conversational chatbot technology.
When the plugin launches, Solana Labs said, users will be able to perform various tasks through the ChatGPT user interface, including checking wallet balances, transferring tokens, and purchasing NFTs. Solana Labs hopes it will make it easier for users to navigate the Solana blockchain.
“The plugin is accessing code and data that is already publicly available and accessible,” Noah Gundotra, Software Engineer at Solana Labs, told Decrypt. “[Our] work in this area is intended to promote safe and human interpretable standards around [large language models] and sending transactions.”
A beta version of the ChatGPT plugin is currently available for developers on the Solana Labs GitHub account. This beta version will allow developers to test the plugin and provide feedback to Solana Labs before the official launch in the ChatGPT plugin store. Read More
New MetaMask Competitor? Top Solana Wallet Phantom Goes Multichain With Expansion to Ethereum and Polygon
Phantom, a leading self-custody wallet in the Solana (SOL) ecosystem, is reportedly expanding to support the Ethereum (ETH) and Polygon (MATIC) chains.
Phantom told TechCrunch that it plans to support the Ethereum and Polygon blockchains beginning May 1st on both iOs and Android devices.
Says Phantom,
“The Phantom multi-chain is now available everywhere that MetaMask is.”
With the expansion, Phantom users will have the ability natively hop between DApps (decentralized applications), and NFT (non-fungible token) marketplace sites such as Blur and OpenSea, according to TechCrunch.
Users will also have the capacity to import assets from MetaMask.
Brandon Millman, CEO and co-founder of Phantom, says Phantom has the ability the hold multiple seed phrases whereas MetaMask can only hold one.
Millman also says Phantom is adding new safety features to Phantom as they begin supporting multiple blockchains, including anti-phishing measures by hiding spam sent to the wallet and warning about any potential threats when navigating websites online. Read More
Robinhood launches fiat-to-crypto on-ramp for self-custody wallets and DApps
Robinhood Markets announced the launch of its new “Robinhood Connect” service and numerous updates to its app.
The launch of "Robinhood Connect," a fiat-to-crypto on-ramp featuring support for decentralized applications (DApps) and self-custody wallets, was announced at Consensus 2023 on April 27.
Positioned as a competitor to similar services such as Coinbase Pay and MoonPay, Robinhood Connect essentially allows users to purchase and sell cryptocurrency directly to and from their self-custody wallet or natively in DApps using a credit or debit card.
Robinhood Connect features integration with Web3 projects, as developers can embed the service directly into applications. This allows customers to access their Robinhood credentials natively in DApps without having to open the Robinhood website or app separately to log in and conduct transactions.
Currently, the service is only available in the MyDoge, Giddy and Slingshot ecosystems, but upcoming support for Exodus and Phantom has been announced.
Johann Kerbrat, general manager of Robinhood Crypto, explained in a company blog post that the service was developed in hopes of bringing more people into the cryptocurrency space:
“Crypto and Web3 have the potential to change the future of the financial system for the better, but we recognize there are still significant hurdles preventing broader adoption.” 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.
