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Coinbase Launches Its Own Layer-2 Network Called ‘Base’
Crypto exchange Coinbase announced the launch of Base – an Ethereum layer-2 network. Coinbase says Base is designed to be a low-cost, secure, developer-friendly environment that will attract more users to the crypto-sphere.
Cryptocurrency exchange Coinbase announced in a blog post on February 23 the launch of Base. Base is Coinbase’s Ethereum layer-2 (L2) network offering a low-cost, secure, and developer-friendly network for building decentralized applications (dApps) on the blockchain. Base uses Optimism’s OP Stack. In its blog, Coinbase says its goal with Base is to make “on-chain the next online” and onboard billions of users into the crypto space.
Layer-2 networks help to make transactions faster and cheaper than the blockchain underlying it, in this case, the Ethereum blockchain. It works by processing bundles of transactions on a separate chain. It then sends receipts back to the main net. According to Coinbase, Base will be “a rollup agnostic superchain powered by Optimism." Read More
Coinbase Says One Ethereum Rival Emerging As Major Long-Term Layer-1 Competitor
The top US crypto exchange Coinbase says Solana (SOL) is poised to become one of the strongest layer-1 blockchain projects.
New Coinbase analysis says Solana is likely going to emerge as one of the top Ethereum (ETH) rivals among the multiple layer-1 blockchains fiercely competing against each other for capital and users.
“Layer-1 blockchains are currently competing to capture as much mindshare as possible from a common, albeit growing, pool of capital and users. While the intensity of this competition may be less apparent in the midst of an ongoing bear market, Solana has seemingly captured a surprisingly sticky amount of mindshare since its inception and the ecosystem is aptly focused on bolstering their technological advantages.”
Coinbase notes that Solana suffered a setback from the FTX collapse in terms of market sentiment, but says that the smart contract platform will eventually bounce back due to its “ecosystem’s relative strength.” Read More
Polygon launches decentralized ID product powered by ZK proofs
The public launch of Polygon ID comes 12 months after it was first launched in a closed-environment to a select group of builders.
Polygon, a layer-2 scaling protocol for Ethereum, has launched a zero-knowledge decentralized identity solution to the public nearly a year after announcing its development.
The Polygon ID service uses zero-knowledge proofs (ZK proofs) that use cryptographic techniques to allow users to verify their identity online without having their sensitive information passed or potentially stored with a third party.
Polygon Labs publicly released Polygon ID on March 1, almost 12 months after the project was officially launched in a closed-source environment.
The Polygon team says Polygon ID was built to “solve the issue of digital trust.” Read More
How to create an NFT treasure hunt
Partner with artists, set rules, promote online, donate funds, and engage a new audience with NFT treasure hunts.
A conventional treasure hunt is a game where players use hints or a map to find hidden objects, which are typically tangible items, such as coins, toys or other rewards. The game typically takes place outdoors and calls for both physical effort and problem-solving abilities.
However, blockchain treasure hunts are becoming increasingly popular as blockchain technology gains wider adoption and people become more interested in exploring new and innovative ways of using this technology.
A blockchain treasure hunt uses the security and transparency of blockchain technology to create a new type of game that can be played by anyone, anywhere in the world. In return, players can be rewarded using cryptocurrencies or nonfungible tokens (NFTs).
This article will discuss the concept of a blockchain-based treasure hunt, steps to designing an NFT scavenger hunt, and how to use cryptocurrency treasure hunt games for marketing purposes. Read More
Because of Solana’s POH method, it can horizontally scale the rest of the blockchain, the same way that operating systems and databases scale their software. Each Solana team member has over a decade of experience working in operating systems GPU acceleration. Compilers, networks, etc., giving them extensive and deep experience optimizing software.
Solana is based on scaling software with hardware, with the vision of building the world's largest decentralized, single-chart blockchain. The only way to do that is by scaling all the core technologies with hardware.
Scaling the Blockchain in this way delivers a cheap cryptographic base for financial transfers and, more importantly, outside of finance. It is a way for Solana to build a better web experience for social media communities regarding micropayments.
Also, advertising-based revenues can be relinquished for social networks, leading communities to generate value by self-expression, creating their own content, and growing the network and the connections within the community, creating a better world for all. Read More
Trezor Produces In-House Chips to Speed Up Hardware Wallet Production
Trezor, a popular hardware wallet manufacturer, has announced that it will produce its own chip wrapper, a key component of its Trezor Model T wallet, to optimize production and reduce lead times in the supply chain. By bringing chip manufacturing in-house, Trezor can be more agile and adaptable to market conditions, reducing its reliance on third-party suppliers and eliminating shipping delays caused by component supply and demand.
The move is a significant one for Trezor, as it allows the company to take greater control over the supply chain and respond quickly to factors like geopolitical disruption and labor shortages caused by the COVID-19 pandemic. Previously, the company was exposed to third-party supply vulnerabilities due to factors like these, which could result in delays in shipping finished products and cause consumers to be exposed to price fluctuations based on component supply and demand.
The move to in-house chip manufacturing also provides Trezor with more design freedom for future products, allowing the wallet provider to build the hardware wallet devices from scratch. Additionally, the move will enable Trezor to respond quickly to market conditions and meet the growing demand for its products. Read More
Chainlink Announces Launch Of New Developer Platform
Decentralized oracle network Chainlink has announced the launch of a new developer platform, christened Chainlink Functions. The platform aims to connect Web 3.0 applications with traditional cloud software.
Decentralized platform Chainlink has announced the launch of a new developer platform to help connect decentralized applications (dApps) with traditional web applications. The new platform, called Chainlink Functions, will include integrations with Meta and Amazon Web Services (AWS) and is currently available in beta on the Polygon Mumbai and Ethereum Sepolia testnets. Additionally, builders can also run customizable computations on Web 2.0 API within minutes, according to the Chief Product Officer at Chainlink Labs, Kemal El Moujahid.
“Our goal is to enable developers to combine the best of web3 smart contracts with the power of Web 2.0 APIs. What this creates is a massive opportunity to build apps that combine the best of smart contracts and Web 2.0.”
According to Chainlink, the new developer platform will complement Chainlink’s already existing Oracle service. The new platform will enable blockchain developers to connect their decentralized applications (dApps) or smart contracts with any application programming interface within the traditional tech space without requiring or managing additional cloud infrastructure.
“With the launch of Chainlink Functions, we are removing a major roadblock in the adoption of web3 and making it easier than ever for developers to combine smart contracts with the powerful APIs and web2 data sources they need to build amazing applications.” Read More
Polygon and Mercy Corps bring blockchain to underserved communities
The Polygon network and Mercy Corps Ventures partnership target underserved communities in blockchain awareness and education initiatives.
Blockchain technology continues to make its way into mainstream view, as many companies adopt it as a part of their operations. With the push for adoption comes the simultaneous need for more education about the technology.
A new partnership announced on March 2 between the Polygon blockchain network and Mercy Corps Ventures — the investment arm of the humanitarian organization Mercy Corps — focuses on bringing blockchain education and opportunities to underserved communities.
According to the announcement, the new partnership has three primary objectives in its effort to bring blockchain and Web3 solutions to “traditionally excluded and underserved communities.”
These objectives include funding blockchain pilots that enable access to the financial system, blockchain hackathons with developers serving users in emerging markets, and creating a blockchain boot camp roadshow in areas with a Mercy Corps presence. Read More
Scam alert: Trezor warns users of new phishing attack
The new active phishing attack tries to steal Trezor users’ crypto by tricking investors into entering their recovery phrase on a fake Trezor site.
Hardware cryptocurrency wallet provider Trezor has warned its users about a new phishing attack targeting their crypto investments by trying to steal their private keys.
Trezor took to Twitter on Feb. 28 to caution users about an active phishing attack designed to steal investors’ money by making them enter the wallet’s recovery phrase on a fake Trezor website.
The phishing campaign involves attackers posing as Trezor and contacting victims via phone calls, texts or emails claiming that there has been a security breach or suspicious activity on their Trezor account.
“Trezor Suite has recently endured a security breach, assume all your assets are vulnerable,” the fake message reads, inviting users to follow a phishing link to “secure” their Trezor device.
“Please ignore these messages as they are not from Trezor,” Trezor declared on Twitter, emphasizing that the firm will never contact its customers via calls or SMS. The firm added that Trezor had not found any evidence of a database breach. 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.
