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60 million NFTs could be minted in a single transaction — StarkWare co-founder
The StarkWare co-founder announced the launch of its new Recursive validity proof technology on Sunday in Seoul.
Zero-knowledge- (zk)-Rollup tech company StarkWare co-founder Eli Ben-Sasson says its new Recursive validity proofs could theoretically roll up as many as 60 million transactions into one on the Ethereum blockchain.
The zkSTARK co-inventor made the comments to Cointelegraph during ETH Seoul on Sunday after announcing the start of production of StarkWare’s new Recursive validity proof technology during a presentation.
Speaking to Cointelegraph, Ben-Sasson said that recursive validity proofs could further scale up transaction throughput to a factor of at least ten compared to standard Validium scaling, noting that they’ve already been rolling up 600,000 mints of nonfungible tokens (NFTs) on the ImmutableX protocol.
“I would say the minimum I would say is 10x [...] We've been putting 600,000 mints of NFTs, which resulted in a 10 gas per mint. We can now at the very least take 10 of such proofs and generate a recursive proof of all 10 of these things,” he explained:
“We could go to six million at the very least, and this is in the near term. That’s something that would be very easy to do.” Read More
Users in Web3 Will Do a lot More Than Just Trade Crypto: Cronos’ Ken Timsit (Interview)
The head of Cronos and Cronos Labs believes Web3 is the future of the Internet and crypto, but only with interoperable chains.
In a recent interview with CryptoPotato during EthCC 5 in Paris, Ken Timsit, managing director of Cronos chain and Cronos Labs, outlined the network’s advantages over other competitors, spoke about the current bear cycle and what Cronos is doing in preparation for the next bull run, the future of the Internet and crypto, and much more.
Cronos Chain Vs. Cronos Labs Vs. Crypto.com
Cronos chain is a relatively new blockchain network supported by the popular crypto exchange – CryptoCom – which interoperates with both the Ethereum and Cosmos ecosystems. It’s powered by Ethermint, allowing for the porting of dapps and smart contracts from Ethereum and EVM-compatible chains.
It doesn’t have a founder “because it is an open source project created by the Cosmos community that was subsequently grabbed by a team and put into production,” Timsit said.
Being supported by CryptoCom means that all exchange users can operate on the Cronos blockchain, as well as all CRO holders (the company’s native cryptocurrency). As such, Timsit estimated that the total number of addressable users is around 50 million at the time of this interview.
So far, though, only about one million “have migrated and created an account on Cronos chain,” and the number of third-party applications created on the blockchain is approximately 300. Read More
Chainlink Staking: A New Chapter in the LINK Economy
With Chainlink token staking set to launch later this year, Crypto Briefing explores how the decentralized oracle network's future will look.
Chainlink is crypto's top decentralized oracle network, known for providing price data to power DeFi applications.
The network is planning to launch a token staking and node delegation system.
The updates could help make Chainlink more secure and decentralized, potentially sparking renewed interest in the project.
Plans to grow Chainlink’s oracle network and shore up its security through a new token staking system could give the project a new lease of life in late 2022.
Chainlink is a decentralized node network that provides data and information from off-chain sources to blockchain smart contracts via oracles.
When a smart contract needs to source external data, such as Bitcoin’s price in USD, it can request it from Chainlink’s oracle network. When a contract makes a request, eligible oracles provide answers, and then a Chainlink Aggregation Contract takes all the data from the oracles and reconciles it for an accurate result. Oracles are then rewarded with LINK tokens for their efforts. While Chainlink is best known for providing oracle services to decentralized finance protocols that rely on off-chain price feeds, it also provides prompt, accurate off-chain data reports for everything from the SWIFT payment system to AccuWeather. Read More
Alchemy Partners With Astar Network To Accelerate Web3 Development on Polkadot
The partnership will leverage the most widely used Web3 API, Alchemy Supernode, to provide better monitoring and analytics.
Blockchain developer platform Alchemy and innovation hub Astar Network have partnered to supercharge Polkadot development. The move will make it easier for developers to create dApps on Astar Network, Polkadot’s leading parachain, and unleash a wave of Web3 creativity. As a result of the partnership, developers can use Alchemy’s powerful APIs to create sophisticated apps that leverage features previously unavailable on Polkadot.
Astar Connects Polkadot to All Major Level 1 Blockchains:
The partnership will leverage the most widely used Web3 API, Alchemy Supernode, to provide better monitoring and analytics, with Astar serving as the parachain that connects Polkadot to all major Level 1 blockchains. The collaboration will also incorporate Astar’s #Build2Earn offering. Astar Network is the only Polkadot parachain that enables token holders to stake tokens on their favourite dApp, meaning Web3 developers can earn a basic income through staking rewards.
Sota Watanabe, founder and CEO of Astar Network, said:
“Supporting the developer ecosystem is one of Astar’s core values and our collaboration with Alchemy will help bring even more incentives and innovation to the community. Our collaboration will provide the resources needed to grow the builder community in Web3 on Astar, Polkadot and beyond.” 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
Chainlink ditches Ethereum PoW forks for PoS after The Merge
The Chainlink protocol will continue operations on Ethereum after the upcoming Merge to the proof-of-stake consensus layer.
Chainlink is aligning itself with the decision of the Ethereum Foundation and its community. Therefore, forked versions of the Ethereum blockchain, which includes proof-of-work (PoW) forks, will no longer be supported by the Chainlink protocol post-Merge.
In an official announcement, the Chainlink protocol revealed that its services will remain on the Ethereum blockchain post the long-awaited Merge. The Ethereum blockchain anticipates the Merge in September 2022, which will merge its mainnet with the Beacon Chain.
This will transition all of Ethereum operations from proof-of-work to proof-of-stake (PoS).
The Merge has been pushed back from mid-2021 to September 2022 before. If it goes according to the timeline of developers, Phase 1 will initiate the transition of the ecosystem’s transaction history and smart contracts on the PoS network.
This transition will affect all smart contracts on the Ethereum blockchain, which in Q1 of 2022 totalled 1.45 million. Chainlink’s role in providing hybrid smart contract services is no exception.
Therefore, in the latest announcement, Chainlink urged its users to prepare their smart contract operations accordingly to avoid future mishaps during and after the implementation of PoS. Read More
World Gold Council Exec Believes Blockchain Technology Will Bolster Trust in the Gold Industry
The World Gold Council’s (WGC) head of global sales and regional CEO, Joe Cavatoni, explained on Friday that he believes the gold industry will integrate with blockchain technology in order to “help the industry standardize reporting.” Cavatoni spoke about the London Bullion Market Association’s (LBMA) and WGC’s Gold Bar Integrity Programme (GBI) which aims to methodize “an international system of gold bar integrity, chain of custody and provenance.”
Gold Bar Integrity Initiative Will Help Investors Feel ‘Comfortable Knowing Where the Gold Is Coming From’
Joe Cavatoni, the World Gold Council‘s (WGC) head of global sales and regional CEO, discussed gold markets in a recent interview published Friday. Cavatoni talked about how gold is used in various products, which helps fuel demand for the precious yellow metal.
He highlighted that one of gold’s industrial use cases includes cancer treatment and gold is an ingredient in products like iPhones and iPads. Gold nanoparticles are also leveraged in photothermal therapy that is often used to kill cancer cells. Read More
Ethereum Co-Founder Vitalik Buterin Downplays Ethereum PoW Fork, Hopes It 'Doesn't Lead to People Losing Money'
Ethereum co-founder Vitalik Buterin recently discussed what he thinks about the recent Ethereum proof-of-work (PoW) fork topic that’s been finding its way into a number of conversations within the crypto community. Buterin remarked at the ETH-Seoul conference over the weekend, that he believes the people introducing the forked token concept are basically a “couple of outsiders” that “mostly just want to make a quick buck.”
Vitalik Buterin Gives His Opinion on the Proposed Ethereum PoW Fork Idea:
A lot of people within the crypto community have been discussing a possible ETH PoW fork (ETHW) that is unique from the existing Ethereum Classic blockchain. Bitcoin.com News reported on the influential Chinese crypto miner Chandler Guo, who initiated the ETHW conversation after explaining that he participated in the birth of Ethereum Classic (ETC). The idea then gained more traction, as a website called ethereumpow.org was published and a few exchanges decided to list the fork. Read More
20 million JavaScript devs can now build applications on NEAR: KBW 2022
“A student can build an app without needing to learn new languages without needing to learn new skills,” said Near founder Illia Polosukhin.
20 million JavaScript developers will now have the ability to write blockchain smart contracts and build applications on the Near Protocol after rolling out JavaScript Software Development Kits (JS SDKs) on Monday.
Speaking with Cointelegraph at the Korea Blockchain Week (KBW) on Tuesday, Near founder Illia Polosukhin emphasized that the move will open up the niche field of blockchain development to a substantially broader audience:
“There’s about 20 million JavaScript developers in the world. Probably like every developer one way or another wrote JavaScript in their life. And what we allow you to do is to write smart contracts in JavaScript.”
“Before we had Solidity so for Ethereum and other layer 2s, we had Rust, which is what Solana and Near are mainly. And so Solidity has probably 100,000 developers who are familiar with it, and those who are active is even less. There is even less probably in Rust,” he added.
In a Monday announcement shared with Cointelegraph, Near outlined that the JS SDK includes the “contract framework itself, JavaScript and TypeScript contract examples and tests.” 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.
