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UK on Path Toward Crypto Clarity As Financial Services and Markets Bill Inches Toward Legislation
The United Kingdom (UK) is taking a step to increase regulatory clarity for cryptocurrencies with the final approval of a bill related to digital assets.
According to a new press release, the Financial Services and Markets Act (FSMB) 2023 was granted Royal Assent, the final step in the process to become law.
The bill enables regulators to create a framework that will allow the safe adoption of crypto in the UK. The bill also empowers the UK’s HM Treasury to establish crypto regulations.
Teana Baker-Taylor, vice president for policy and regulatory strategy at stablecoin issuer Circle, is praising the bill’s passage in a series of tweets as well as explaining what it accomplishes. Read More
Multichain Tokens Lose Support On Binance
Binance no longer supports deposits and withdrawals for several cross-chain bridge tokens linked with the Multichain project.
Binance Suspends Multichain Support:
In a recent development, Binance, one of the world's largest cryptocurrency exchanges, has announced that it is ending support for withdrawal and deposit for several Multichain-bridged tokens. From July 7 onwards, customers on networks like BNB Smart Chain, Fantom, Ethereum, and Avalanche will be unable to deposit or withdraw bridged tokens until further notice.
It is important to note that the suspension only applies to specific tokens bridged to Multichain and does not affect the trading of other cryptocurrencies on Binance. Users can still trade and engage in transactions with the wide range of tokens available on the exchange.
Some of the tokens affected by this decision are Polkastarter (POLS), Alchemy Pay (ACH), Beefy.Finance (BIFI), Harvest Finance (FARM), tokens minted through the bridge on Fantom, like Beefy.Finance (BIFI) and Alpaca Finance (ALPACA), and a token minted on Ethereum’s bridge, Travala (AVA). Read More
Is Web3 messaging going to replace WhatsApp and iMessage? Co-founder of XMTP explains
The co-founder of XMTP, Shane Mac, is optimistic that Web3 messaging will play a critical role in bringing the masses to the industry.
Hashing It Out episode 24 explores Web3 messaging with Shane Mac, co-founder of XMTP — an open protocol and network for secure Web3 messaging — who explains the differences between Web2 and Web3 messaging. Mac also explains how Web3 messaging could spark major adoption for the entire industry moving forward, regardless of current user experience limitations.
Prior to XMTP, Shane founded Assist, which built the first business messaging for Facebook Messenger, Apple Business Chat, Google Business Messaging, and SMS. In this episode of Hashing It Out, Mac explains why he made the switch from building Web2 messaging platforms to building Web3 messaging. According to him, messaging must evolve based on new identities. He explains that phone messages (SMS) were built around mobile numbers while new social media platforms like Facebook and Instagram also came with new identities. Web3 offers a new form of identity where people have wealth and personality tied to wallet addresses but could not communicate with each other. He describes this new form of identity mixed with messaging as a "huge innovation" and a "huge opportunity."
"To verify a message with the wallet signature that is the same wallet signature that proves you own what you say you own felt like a huge innovation." Read More
Circle Is Now Closer to Launching Its Coinbase Wallet-Building Competitor
The fintech firm is helping developers add crypto wallets to their applications.
Circle today announced a new programmable crypto wallet service for developers. The service will allow those building applications to “embed secure wallets within minutes.”
Circle CEO Jeremy Allaire said on Twitter Thursday that Circle had “quietly released the first major milestone” of its Web3 Services arm.
Web3 Services is Circle’s suite of tools for developers to “build delightful Web3 apps fast.”
The fintech firm behind stablecoin USD Coin (USDC), the fifth largest digital asset, described the product on its website: “Seamlessly embed wallets into your existing UI for a delightful and streamlined user experience that your customers expect.”
It added that it would be “blockchain agnostic,” meaning developers can use the wallet across multiple blockchains with no blockchain-specific code. The company added that the programmable wallets currently support Ethereum, Polygon and Avalanche, “with other chains coming soon.” Read More
REFER THREE TO MARKETHIVE TO RECEIVE BONUS AIRDROPS AND ACTIVATE MICROPAYMENTS
As Markethive continues to gain traction with new members joining daily, Markethive is steadfast and in preparation to take a large share of the new Market Network that is the next generation following the social media craze of Web 2.0. Markethive is a Social Market Broadcasting Network. It sounds like a mouthful, and it is!
Markethive is an all-encompassing platform that has integrated;
As Markethive’s foundation is Blockchain-driven, it has its consumer coin, currently named Markethive Coin (MHV), but soon to be renamed Hivecoin (HVC - the Ticker Symbol). It is fully integrated into the system and has created an Ecosystem for all Markethive members, free and upgraded Entrepreneurs.
So Markethive has established its niche as the only Social Market Broadcasting Network with an infinity Airdrop and a system that rewards the users for engaging on the platform and learning how to use it with ongoing, real-time micropayments, otherwise known as a Faucet.
Markethive has the combined power of Facebook, LinkedIn, Marketo, and Amazon, with the real advantage of deriving income within the Markethive system while promoting your business and enjoying the social media interface. Read More
Uniswap V4 Depends On Ethereum's Cancun Upgrade
The latest statement from the Uniswap Foundation has claimed that the launch of version 4 of the protocol depends on Ethereum’s upcoming Cancun upgrade.
Cancun, Audit, Then V4
The Uniswap Foundation recently put forth an announcement elaborating its plans for the much-awaited Uniswap v4 protocol. Although the foundation’s Governance Lead, Erin Koen, has disclosed that the launch is scheduled for later this year, the fact is that a lot depends on the successful deployment of Ethereum’s upcoming Cancun upgrade, which is scheduled to go live around the end of September.
Uniswap v4 will also require thorough auditing before it goes live, a process that can only start after Cancun and can take as long as one to four months. Read More
OpenSea Now Supports NFTs on Zora's Ethereum Layer-2 Network
Zora's Optimism-based Ethereum scaling network gets a key ally in OpenSea, which will let users trade and mint the NFTs via its platform.
Zora, the NFT minting platform that recently launched its own Ethereum layer-2 scaling network to facilitate faster and cheaper minting of on-chain artwork, will now be supported by NFT marketplace OpenSea, both companies announced Friday.
The news means that art pieces minted on Zora’s network can now be bought and sold on OpenSea, and that OpenSea’s suite of NFT-related tools will now be able to mint assets on Zora's scaling network. The Zora Network is built on the tech stack of the existing scaling network, Optimism.
OpenSea is only the latest of more than 45 NFT platforms, including Sound, Gallery, and Rainbow, that support the new Zora network. OpenSea is a mainstay of the NFT industry that has historically accounted for the majority of organic NFT trading volume, although it was surpassed earlier this year by rival Blur and its tokenized trading incentives. Read More
What is The Graph, and how does it work?
The Graph is a decentralized indexing system that allows users to query data from blockchain networks, making DApp development easier.
The Graph is an open-source protocol hosted on the Ethereum blockchain, designed for indexing and querying, much like Google. It collects, organizes and stores data from other blockchains, making it searchable by users.
Using The Graph enables developers to quickly access and analyze data from blockchain networks, making decentralized applications (DApps) easier to build. GRT is The Graph’s native currency, which users pay to make queries.
The Graph’s decentralized indexing protocol uses open-source application programming interfaces (APIs) known as subgraphs, indexes that organize data within a global blockchain graph according to a user’s query.
The subgraphs are transferable, allowing developers to use GraphQL (the language used by The Graph) to query data quickly and efficiently. The Graph’s decentralized network is powered by blockchain technology, a distributed ledger system that enables secure and transparent transactions.
By providing a streamlined interface for developers to access and query data stored on decentralized networks that are not easy to query directly, The Graph is helping to speed up the creation of DApps on that network. Read More
Ethereum Core Dev Explains Why Proto-Danksharding Is a Big Deal
“We will be able to handle data much more efficiently, and in a cheaper way as well,” he said.
Proto-danksharding is going to completely change Ethereum—and for the better, says core developer Mario Havel.
At ETH Barcelona over the weekend, Havel told Decrypt that the next big Ethereum upgrade, dubbed "Dencun," is nearing the "final stages of planning." The upgrade will do many things, but one of the major changes is the introduction of the proto-danksharding feature, which will allow the network to scale and handle up to 100,000 transactions per second, devs say.
“The majority of the focus right now is on the implementation of EIP-4844, also known as proto-danksharding,” Havel explained. According to the core developer, EIP-4844 sets the foundation for data sharding through the introduction of a new transaction type—the oddly named “data blob.”
Blob blocks also introduce what’s called a KZG commitment. The name stands for Kate-Zaverucha-Goldberg, the names of the original authors who came up with it. 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.
