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DYdX Set To Launch Public Testnet Of Its Cosmos-Based Blockchain
Decentralized exchange dYdX has announced plans to launch the public testnet of its Cosmos-based blockchain on the 5th of July, 2023.
The initial public testnet will initially only work with Bitcoin and Ethereum markets, but future upgrades plan to introduce over 30+ markets.
Public Testnet Set For Launch:
The launch of dYdX’s Cosmos-based blockchain is part of the decentralized exchange’s mission to democratize access to financial opportunities further. The dYdX chain, which has been created in the Cosmos ecosystem, recently completed its Milestone 4 and has over 40 validators who are running the platform’s software. The news was announced by the decentralized exchange on its official Twitter handle.
“We are thrilled to announce that the dYdX Chain public testnet is set to launch on 7/05/2023 at 17:00 UTC!”
The launch would also see testing commence for several functions. These would include viewing the order book, connecting wallets, and viewing account information. The decentralized exchange had stated in a blog post that it expected to launch its mainnet after completing Milestone 5 in September. Read More
Ledger Unveils Tradelink: A Custodial Crypto Trading Platform Tailored for Institutions
On June 28, the crypto hardware wallet manufacturer and security firm Ledger unveiled its latest offering, a digital currency exchange and custodial solution service, specifically tailored for institutions. The new service, known as Tradelink, has been heralded by Ledger as “the first open network to enable custodial trading via exchange and custodial partners.”
Ledger Targets Institutions With Tradelink Launch:
The security firm and crypto hardware manufacturer Ledger announced the launch of a new service on Wednesday that targets institutional investors. According to the company, the Ledger Enterprise Tradelink service will enable “off-exchange trading,” “enhanced security,” “distribution of risk,” “zero transaction fees,” and “faster and more efficient trading.”
Ledger details that it has partnered with a slew of asset managers and market makers such as Hodl Group, Wyden, Wintermute, Coinsquare, NDAX, Damex, Bitazza, Flowdesk, YouHodler, Crypto.com, Bitstamp, Huobi, Uphold Institutional, and Cex.io. Furthermore, Ledger partnered with regulated custodians such as Komainu, Tetratrust, Etana, Crypto Garage, Damex, and Kryptodian as well. Read More
MetaMask Developer ConsenSys Challenges SEC's Proposed 'Exchange' Definition, Citing Blockchain Misunderstandings
Blockchain tech company ConsenSys, represented by lawyer Bill Hughes, has formally objected to the Securities and Exchange Commission's (SEC) Notice of Proposed Rulemaking (NPRM) concerning the redefinition of a securities "exchange". Hughes voiced these objections in a series of tweets today.
ConsenSys contends that the amendments proposed by the SEC would be unlawful if finalized in their current form, as they are intended to apply to blockchain protocols. They allege that the reopening release fails to rectify key legal deficiencies in the proposed amendments, misinterprets the term "exchange" as per the '34 Act, and inappropriately aims to redefine exchanges in order to strengthen the registration of broker-dealers.
Furthermore, Hughes stressed that the proposal contains major misconceptions about blockchain technology and the dynamics of the broader ecosystem. Given these substantial shortcomings, ConsenSys has urged the SEC to withdraw the proposed amendments in their entirety. Read More
Ethereum Co-founder Vitalik Buterin Engages in Spirited Debate on Wallet Security
In a recent Ask Me Anything (AMA) session on Twitter, Ethereum co-founder Vitalik Buterin fielded various questions from the cryptocurrency community. The session largely revolved around the pros and cons of MPC-based (EOA) wallets versus Smart Contract wallets, providing an intriguing insight into Buterin's perspective.
Buterin pointedly criticized MPC-based Externally Owned Accounts (EOAs), stating that they are "fundamentally flawed" because they cannot revoke keys. Resharing the keys, he argued, is not a valid countermeasure since the original key holders could still recover them. He went on to imply that Smart Contract wallets should be the go-to choice, though his declaration elicited a range of responses.
One Twitter user, identified as Trevor, contested Buterin's assertion. He argued that key revocation wouldn't be a problem unless there's a colluding quorum of old key holders, suggesting that resharing could provide the necessary security. However, Buterin was not swayed, stating he didn't want to "trust a quorum forever."
Ouriel from ZenGo, a keyless crypto wallet, interjected with several perceived flaws of Smart Contract wallets. He pointed out that these wallets are limited to ETH/EVM, are relatively expensive to set up and recover on Layer 1 (L1), and that smart contracts could potentially be revoked. 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
Canadian lawmakers publish recommendations in support of blockchain adoption
The Standing Committee on Industry and Technology has published a comprehensive report on blockchain technology that includes recommendations that attempt to balance regulations with innovation.
While the U.S. grapples with a fragmented and turbulent regulatory environment for digital assets, some of Canada’s lawmakers are attempting a more holistic approach.
The Canadian House of Commons’ Standing Committee on Industry and Technology has published a comprehensive report on blockchain technology, including a series of recommendations to the Government of Canada to support and foster the blockchain and cryptocurrency industry.
The Committee’s report, titled “Blockchain Technology: Cryptocurrencies and Beyond,” highlights the potential of blockchain technology to digitize unexplored sectors of the economy and trigger unprecedented value creation. In light of this potential, the committee’s first recommendation urges the government to acknowledge blockchain as an emerging industry with considerable economic and employment prospects.
The proposed guidelines recognize the need for a resilient regulatory framework, particularly in the wake of the FTX collapse that sparked global concern about the viability of the cryptocurrency industry. However, the committee believes that Canadian regulations are generally effective, citing the limited impact of the FTX debacle on Canadian firms:
“The regulatory environment is a primary reason why Canadian firms were less affected by recent events and why such events were significantly less likely to occur in Canada than elsewhere.” Read More
How to use DeFi the right way — This latest guide can help
This latest report is a guide to help the next generation of cryptocurrency users and veterans alike in the ways of decentralized finance.
The cryptocurrency market saw an explosion of growth during the 2021 decentralized finance (DeFi) Summer and increased fear of missing out (FOMO), which drove prices of Bitcoin and much of the cryptocurrency market to all-time highs. During that time, the total value locked (TVL) across DeFi rose to nearly $180 billion before crashing down to earth.
After the past few weeks of the BTC price crossing the $30,000 threshold, some are speculating if the market is gearing up for another bull run. That could signal interest from both veterans of past cycles and those new to crypto to get interested in DeFi, and Cointelegraph Research’s latest report is here to help give insights to past, present and future DeFi users.
“Investing in DeFi: A Comprehensive Guide” report is a perfect start for those new to blockchain, giving an overview of DeFi. Throughout the report are links and references to all the useful resources and tools to help individuals conduct their own due diligence before investing in anything. Cointelegraph Research and Cointelegraph Markets Pro collaborated on several areas of the report to bring tips and tricks to help DeFi users with fundamental analysis to help mitigate the risks associated with investing in cryptocurrencies. Read More
Coinbase layer-2 network Base closes in on mainnet launch
While a date for mainnet wasn’t announced, the Base team said it’s now fulfilled four out of five of their criteria for launch.
Base, a new layer 2 application-focused protocol by Coinbase, has just one criterion left to fulfil before being ready for mainnet launch.
On June 29, the team said the Optimism-powered, Ethereum-secured network has been subject to six months of rigorous security audits — both internally and externally — its second-last criteria required for launch.
“With the completion of these audits, we’ve now fulfilled ⅘ of our criteria for mainnet launch,” Base said, adding that the team feels confident after not finding any critical code bugs:
“Completing these in-depth security workstreams without discovering critical severity bugs gave the Base team confidence to proceed towards mainnet launch.”
The other three criteria passed included a “Regolith” hard fork in testnet, a successful infrastructure review with OP labs — the team behind Optimism — and Optimism’s “Bedrock” upgrade. Read More
Polygon 2.0 Aims to Provide 'Unified Liquidity' Across Ethereum Scaling Networks
The company said Polygon 2.0 will better connect separate blockchains and do away with wrapped tokens.
Polygon Labs is moving ahead with plans to reinvent its entire architecture as part of its goal to become the "value layer of the Internet."
Polygon 2.0 will have a fundamentally different architecture that makes it easier and more seamless to spin up new chains in the Polygon ecosystem. Polygon itself is an Ethereum layer two. It was designed to address some of Ethereum's limitations through a sidechain solution.
As its upgrade seeks to make it easier to create new Polygon chains, it will also feature a shared bridge to improve interoperability between those chains and eliminate the need for wrapped tokens. A wrapped token, like Wrapped Bitcoin (WBTC), allows users to move assets off their native blockchain. In this case, WBTC allows users to move their Bitcoin onto the Ethereum and Tron networks.
The way that’ll work on Polygon 2.0 is, native Ethereum tokens will be deposited into a single contract on the Ethereum mainnet. When a user wants to use their tokens across different Polygon chains, the corresponding assets will be mapped to the tokens deposited on Ethereum, which Polygon says will eliminate the need for wrapping them and improve user experience. 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.
