x
Image Source: Pixabay
This project aims to revolutionize DeFi on Bitcoin
This new project frees decentralized finance of its weak points, unlocking the liquidity of Bitcoin for DeFi projects.
The unique unspent transaction output (UTXO) model used for the Bitcoin blockchain enables BTC to act much like a paper currency, resulting in superior security and robustness as a peer-to-peer currency. Especially compared to the bank-account-like model that Ethereum-based DeFi solutions typically adopt. As the pioneering cryptocurrency, Bitcoin presents massive liquidity, but Ethereum-based DeFi solutions have yet to develop a secure and effective way to tap into that.
DeFi already met Bitcoin, but there was a catch:
With the introduction of the Taproot upgrade, which enabled the implementation of smart contracts, DeFi found its route to the Bitcoin base layer for the first time. However, it started on the wrong foot: As the Taproot upgrade allowed people to bypass the initial 80-byte limit on the Bitcoin blockchain, people wasted no time in uploading all sorts of digital properties, including images, NFT-like inscribed assets and more, clogging up the base layer with unnecessary digital junk and possibly making Satoshi Nakamoto cringe.
Bitcoin needs its own layer-2 DeFi ecosystem that expands the use of BTC putting no additional pressure on the base layer, and that’s where Mintlayer comes in. Mintlayer is an L2 solution rooted in the established network of the Bitcoin blockchain. Similar to how the Lightning Network solved Bitcoin payments at scale, Mintlayer is poised to bring decentralized finance to Bitcoin’s toolkit, without compromising the Bitcoin community’s principles. Read More
TBD's Block Launches c= to Enhance Bitcoin Lightning Network
TBD, a subsidiary of Block, has announced the launch of c=, a new initiative that aims to improve the Bitcoin Lightning Network. c= is a new endeavour that aims to improve the Bitcoin Lightning Network. The Lightning Network is a layer 2 payment network that aims to make Bitcoin transactions quicker, cheaper, and more reliable. Its primary function is to reduce the fees associated with Bitcoin transactions. From its inception, the network has been subject to unplanned expansion, with the acceptance of its services in the real world being the primary driver of its liquidity and capacity.
TBD wants to further extend the scope of the Lightning Network by offering more liquidity and routing services, and with the introduction of c=, they hope to accomplish this goal. The objective of the c= project is to enhance the architecture of the network in order to better facilitate the use of Bitcoin as a payment mechanism by the general public.
The Lightning Network is a crucial breakthrough for Bitcoin since it overcomes some of the difficulties associated with the original blockchain, such as sluggish transaction times and excessive fees. This makes the Lightning Network a vital addition to the Bitcoin ecosystem. Lightning Network transactions are peer-to-peer transactions that are more trustworthy, cheaper, and quicker than typical blockchain transactions. This is made possible by the addition of a second layer to the network, which is what the Lightning Network does. Read More
Polygon’s technical lead explains what to expect from zkEVM
Polygon looks to be the first to deploy an Ethereum mainnet release for their zkEVM rollup set for Mar. 27.
The Ethereum ecosystem is set to witness one of the hottest blockchain trends this year, with numerous companies eager to exploit Polygon’s upcoming zkEVM rollup.
Zero-knowledge (ZK) technology is a cryptographic solution reshaping the blockchain industry. They execute languages and low-level bytecode at a programmable level, backed by the same rules as the Ethereum mainnet.
It is a virtual machine that utilizes zero-knowledge proofs to verify data without revealing any information about the data’s content or properties. It is a censorship-resistant protocol replicating the transaction execution environment of the Ethereum mainnet. Read More
Demand for Blockchain Devs Is Soaring—But Not Just in Crypto
Despite recent crypto layoffs, prospects for blockchain developers may be set to hold strong according to some in the hiring industry.
Last year was one of the most chaotic for the broader crypto industry.
After FTX’s collapse, thousands of employees were laid off, and many firms, especially those in the mining sector, shut shop entirely.
After layoffs and bankruptcies, cryptocurrencies were also hit hard. The industry's market cap plummeted from roughly $2.23 trillion at the start of 2022 to just $832 million at the start of 2023, starting in earnest from June onwards and intensifying following the implosion of FTX, according to data from CoinGecko.
Still, software industry insiders claim there's never been more demand for blockchain developers.
Demand for blockchain programming skills increased by 552% in 2022, as per a report by DevSkiller, compiling over 200,000 skills assessments. Tech firms can use these assessments as part of their hiring process to vet a developer’s proficiency. 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
Gold mining rights have now been tokenized and recorded on the blockchain
While Bitcoin (BTC) is often cast in a competitive light when it comes to discussing gold, the blockchain technology that underpins the top crypto has a wide range of potential use cases that can help improve the efficiency of how all financial markets operate, including precious metals markets.
A prime example of how the technology can be applied to the precious metals space is demonstrated in the recent announcement from Santo Mining Corp. The company has entered into a non-fungible token (NFT) software development agreement with Vegachi Holdings SAS to develop a series of NFTs linked to the fractionalization of land with gold mining rights.
The fractionalization of land in regard to gold mining rights is a novel approach to applying NFT technology for investing in the gold industry, but the method has been applied previously to other forms of real estate that offer multiple investors the opportunity to invest.
"We are delighted to work on this project and be able to bridge LawTech & FinTech with digital assets, and ensure that the traditional legal world can be linked and embedded with the blockchain and digital asset technology,” said Hassan Mustafa lead Attorney at Law at Mustafa & Associates and Legal Representative of Vegachi Holdings SAS.
Santo Mining, which is doing business as Santo Blockchain Labs (OTC PINK:SANP), is a vertically integrated blockchain and crypto company that manages, operates, and develops end-to-end Blockchain-as-a-Service (BAAS), which helps businesses get blockchain applications up and running. Read More
The Wild West Of Data Privacy
In 2021, online payment fraud grew 14%, from $17.5bn to over $20bn. At the same time, 46% of organisations surveyed by PwC reported experiencing fraud, corruption, or economic crimes in the last 24 months, with 70% of those coming via an external attack or collusion. There are hundreds of different statistics that all mark the same point: the internet can be a dangerous place where there’s money changing hands. When you compound that with the rise of remote working, new digital security issues, and corporate information policies, data appears more exposed than ever.
Cybercrime has surged over the last decade, as more and more platforms create new opportunities for digital thieves and hackers to scam and swindle at will. However, it’s really in the last three years that the data has taken a giant leap. Of all global fraud, it’s thought that around 40%, though likely more, is platform fraud, with the scams originating on platforms including social media, streaming services and marketplaces. Anywhere that a user can attempt to build trust or make communications there is an opportunity for cybercrime to take place.
That’s the unfortunate reality of Web2. It is the Wild West of data privacy.
The first thing to acknowledge is that they probably didn’t set out to. The internet was never designed to be secure internally, it assumed that if you were on the network you could be trusted. Nor was the World Wide Web designed to be secure, it was just a way of making data stored for public consumption on the Internet accessible. Web 2.0 brought the age of platforms with vast numbers of users consuming often ephemeral, but highly addictive services, the problem was how to make money from them. When the answer turned out to be data and advertising based on data the problems started: Read More
How Blockchain Technology Is Transforming the Travel and Tourism Industry
Secure and reliable transactions are crucial when it comes to the travel sector. It is particularly pertinent, given the numerous international transactions occurring daily between different organizations in the sector.
The adoption of blockchain technology could increase the transaction’s reliability and security. Additionally, the absence of middlemen in the process could result in much faster payments using blockchain technology.
Furthermore, the decentralized character of blockchain can be advantageous for international travel. Without unified data storage, it is still possible to build an infrastructure.
A system of this kind is unlikely to fail due to hardware issues or malicious attacks. Due to blockchain’s decentralized nature, it is simpler and more reliable to obtain and store important data. Read More
Jack Dorsey’s Block asks for input on proposed ‘mining development kit’
Block’s mining hardware product lead, Naoise Irwin, has asked for pointers on a proposed hardware and software development kit for Bitcoin mining.
Payments company Block, formerly known as Square, is delving deeper into the crypto mining industry with potential plans to build a “mining development kit.”
A March 7 blog post revealed that the Jack Dorsey-founded multinational technology firm was mulling its latest vision for advancing its Bitcoin mining ambitions. Senior product lead for mining hardware Naoise Irwin asked for feedback on the concept via email.
The mining development kit (MDK), if it goes ahead, will provide a “suite of tools” to developers with the aim of increasing the “accessibility and openness” of Bitcoin mining.
Block noted the kit would deliver several components including an “industrial-grade Bitcoin mining hashboard” designed to be compatible with the firm’s custom-built control board and third-party controllers such as Raspberry Pi.
Additionally, there will be a custom-designed controller board designed to work with the “hashboard.”
The firm asked what features users want to see on the proposed hardware such as power requirements, required connections, and how much it should cost. 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.
