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What needs to happen to have an effective blockchain-creator economy?
Making the blockchain space more welcoming to creators can open up more use cases.
The blockchain space has long been an attractive medium for creators of all kinds. From digital artists to software developers, blockchain tech has something to offer. However, one big challenge still remains in the space - most blockchains follow the ‘to each their own' concept. Interoperability in web3 is still scarce, which limits creators and makes the entry point for many a bit steeper.
One of the main elements that creators of all areas are still seeking is the opportunity to collaborate freely and effortlessly.
What needs to improve?
As things stand at the moment, blockchain developers scarcely have the opportunity to build collaboratively. While a team of devs can come together and work on a single project, the opportunity for cross-chain collaboration is virtually nonexistent.
Developers select a blockchain they’d like to work on, and there is little room for integrations beyond that protocol. This is a significant limitation in a space where new blockchains and capabilities pop up by the minute. Read More
Industry seeks solutions for NFT image-hosting disasters
NFT project executive Alex Altgausen said that if NFT projects want to disrupt traditional industries, they should explore storage technologies available in Web3.
The image-hosting aspect of nonfungible tokens is in need of major improvements. First, people saw NFTs on FTX break after it declared bankruptcy. More recently, NFTs on the marketplace Magic Eden showed some questionable images instead of their actual thumbnails.
As the problem continues to persist, Cointelegraph reached out to various industry executives to get their thoughts on how NFT projects can solve the issue.
From using dependable blockchains to exploring the storage technologies available in the Web3 space, various executives working in the NFT industry gave their thoughts on how to avoid future problems in NFT image hosting.
Samuel Huber, CEO of the metaverse platform LandVault, noted that the issue with FTX NFTs was that the metadata was hosted using a Web2 API. According to Huber, the best course of action to avoid this type of problem is to use dependable blockchains for the NFTs themselves and store them on a distributed ledger that is not controlled by a single entity. Read More
Mastercard Employs Polygon For Web3 Music Accelerator Program
Payments giant Mastercard has expanded its reach in the blockchain sector again, this time by launching a spotlight program for emerging musical artists built atop the Polygon blockchain.
Mastercard announced the Mastercard Artist Accelerator program – a spotlight program for emerging musical artists to help up-and-coming creators tap into the power of Web3 and blockchain technology. The program will kick off in spring 2023 and will prepare five emerging musical artists, with the skills, access, and tools to pave their own musical paths in the digital economy. Mastercard announced the program on January 7 via a blog post that reads:
The artists will gain exclusive access to special events, music releases and more. A first-of-its-kind curriculum will teach the artists how to build (and own) their brand through Web3 experiences like minting NFTs, representing themselves in virtual worlds and establishing an engaged community. Read More
Using blockchain technology to combat retail theft
Blockchain technology may be a solution when it comes to anti-theft measures for retailers.
The retail industry is one of the most important sectors of the United States economy. Unfortunately, the COVID-19 pandemic has left the trillion-dollar retail sector vulnerable to in-store theft.
Findings from the National Retail Federation’s 2022 Retail Security Survey show that retail losses from stolen goods increased to $94.5 billion in 2021, up from $90.8 billion in 2020. Some retailers also have to lock away certain products to prevent theft, which may lead to decreased sales due to consumers’ inability to access goods.
Retailers look toward blockchain to solve retail theft:
Given these extreme measures, many innovative retailers have started looking toward technology to combat retail theft. For example, Lowe’s, an American home improvement retailer, has recently implemented a proof-of-concept called Project Unlock, which uses radio frequency identification (RFID) chips, Internet of Things sensors and blockchain technology. The solution is currently being tested in several Lowe’s stores in the United States. Read More
A democratic society values a free-flowing media ecosystem. A healthy media ecosystem is one of the characteristics of a democratic society. Mass media outlets such as newspapers and cable TV networks were prominent in the past. Today, the internet and social media platforms allow for greater communication across society.
Journalism, investigative correspondents, and even freelance writers are essential to that ecosystem. High-quality reporting revealing brutal truths and users' scope and exposure on social media to either create or access information are forces that can drive genuine societal change. And even keep the power structures in check.
Despite the positive aspects mentioned above, harmful practices and negative external forces related to the media ecosystem often eclipse them. These issues are usually easy to recognize once they’re identified. Therefore, it is important to acknowledge them and spread awareness about their potential risks.
Doing so will help you make informed decisions about how you use media and how it can impact your life and the lives of others. The following are a few issues pervasive in many digital news sites, forums, and social media platforms. Read More
Markethive Media has embraced blockchain technology and cryptocurrency, building an ecosystem that belongs to “we the people,” eliminating many of the issues plagued by media outlets today. With its meritocratic culture, dynamic social media interface, and growing community, Markethive is enhancing and bringing the platform into the future internet with new technology and interfaces, but still in keeping with the human touch.
Mark Cuban Makes Prediction on Next Crypto ‘Scandal,’ Warns of Potential Implosion if Exposed: Report
Billionaire and Shark Tank star Mark Cuban has a prediction on what could be the next thing that rocks the crypto industry.
In a new interview with The Street, Cuban says he believes the next “implosion” in crypto markets will stem from a realization that much of the trading volume on centralized digital asset exchanges is in fact wash trading.
“I think the next possible implosion is the discovery and removal of wash trades on central exchanges. There are supposedly tens of millions of dollars in trades and liquidity for tokens that have very little utilization. I don’t see how they can be that liquid.”
Wash trading is when a single entity makes many different trades to give the appearance of volume, demand and liquidity for an asset and is often used in “pump and dump” schemes in crypto and other markets. Read More
StarkWare’s Cairo upgrades to rust-inspired Cairo 1.0
StarkWare, a scaling solution provider, tweets about the new launch of their first public version of Cairo 1.0. However, Cairo was first brought into public in 2020, which efficiently wrote STARK-provable programs. However, the new version Cairo 1.0 is a Rust-inspired language, which would help developers write the codes seamlessly, efficiently, and safely.
Cairo is popular among the developers to build Layer-2 applications, which have managed above $790B of trades with the processing of around 300 M transactions. It has also minted 90 million NFTs. Cairo ranks 4th in the blockchain ecosystem as a widely used programming language. With this new launch, StarkWare aims to make this language more approachable and convenient. StarkWare is still working on its project and will soon come up with exciting new features to strengthen safety and convenience. It is still working to advance safety and convenience, which will be made public in the near future. Read More
Why DeFi should expect more hacks this year: Blockchain security execs
One reason is that “hackers have gotten smarter, gained more experience, and learned how to look for bugs,” according to the founder of a crypto auditing firm.
Decentralized finance (DeFi) investors should buckle themselves up for another big year of exploits and attacks as new projects enter the market and hackers become more sophisticated.
Executives from blockchain security and auditing firms HashEx, Beosin and Apostro were interviewed for Drofa’s “An Overview of DeFi Security In 2022” report, shared exclusively with Cointelegraph.
The executives were asked about the reason behind last year’s significant increase in DeFi hacks, and whether this will continue through 2023.
Tommy Deng, managing director of blockchain security firm Beosin, said while DeFi protocols will continue to strengthen and improve security, he also admitted that “there is no absolute security,” stating:
“As long as there is interest in the crypto market, the number of hackers will not decrease.” Read More
Nifty News: Fake Pokémon NFT game spreads malware, ‘Jai Ho’ singer to launch metaverse and more
Software used to access computers remotely has been inserted in a phishing website fronting as an NFT card game for the popular Pokémon franchise.
Hackers hide malware in fake NFT game:
A phishing website purporting to offer a Pokémon-branded nonfungible token (NFT) card game has been spreading malware to unsuspecting gamers, a cybersecurity firm has warned.
The website, which at the time of writing was still online, also claims to offer an NFT marketplace, with a link to buy tokens, and even an area to stake NFTs — all based on the popular Japanese media franchise.
However, an arm of the South Korean cybersecurity firm AhnLab warned the public about the website on Jan. 6, noting that instead of downloading a game, users were actually downloading a remote access tool that allows hackers to take control of their device.
The tool, known as NetSupport Manager, would allow the attackers to remotely control the computer’s mouse and keyboard, access the system’s file management and history and even execute commands allowing them to install additional malware, the firm warned.
The public has been advised to only purchase or download applications from official websites and not open attachments in suspicious emails. 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.
