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Has Proof of Stake Made Ethereum More Centralized?
The Ethereum network's switch to proof of stake has opened it up to criticisms of greater centralization and increased risk of censorship.
Has the move to proof of stake made Ethereum more centralized and censorship-prone?
With its shift from proof of work to proof of stake last month, Ethereum now relies on validators, not miners, to add new transactions to the network. Those validators get to decide what transactions go into each block and in what order. Although that’s already lowered the energy consumption of the network by 99.99%, it also means that a large portion of the ETH securing the network sits with centralized entities.
That runs counter to all the reasons Ethereum was made to be decentralized in the first place, critics say. Blockchain networks aren't supposed to be at the whims of powerful, central entities.
As of last month, 13.5 million ETH (worth $22.3 billion at the time) had been staked on the Ethereum network, with more than 60% of that ETH sitting with Lido Finance, Coinbase, Kraken, and Binance. That means these centralized entities have a much higher likelihood of being assigned blocks of transactions to add to the chain—and may end up having an outsized say-so in what is and isn’t allowed on the network. Read More
BaaS Startup Domineum to Train 100k Nigerian Students in Blockchain Solutions
Domineum, a London-based Blockchain-as-a-Service (BaaS) startup, is set to train as many as 100,000 students under the umbrella of the Nigeria Association of Computing Students (NACOS) in blockchain and emerging technologies.
As announced, the partnership seeks to ensure the youths, which are considered the future leaders in digital technologies, gain the adequate skills they need to be changemakers and contribute their quota to the Nigerian economy.
Africa has often been seen as an untapped region when it comes to blockchain-related initiatives. While the region is known as a major hub in terms of the growth and adoption of blockchain-related innovations.
When it comes to crypto trading activities, Nigeria has consistently been ranked above a number of other African countries, as well as emerging countries in other parts of the world. The move from Domineum to train budding professionals will seek to bridge the gap in what Nigeria currently lacks and what it needs to stay well visible on the radar as one of the most renowned crypto hotspots in the world.
"The NACOS / DOMINEUM partnership is a strategic collaboration that will bring a significant change to all students studying computer-related courses in tertiary institutions across Nigeria,” said Geoffrey Weli-Wosu, Chief Executive Officer of Domineum Blockchain Solutions, adding that “Youths hold the future of IT in Nigeria, and it is paramount that they should be invested in and supported with the necessary resources, connections, and opportunities to excel." Read More
How to learn Web3 development for beginners
One can learn Web3 development by joining a Web3 developer DAO, participating in a Web3 hackathon or enrolling in blockchain-related courses.
The idea of Web3 has begun to take hold among business web developers in recent years. Modern business models emphasize the significance of moving beyond Web2 and discovering new ways to manage, organize and create meaning from the enormous volume of user-generated data, even though ideas about the current developments of the Web are still hazy and unclear.
The Semantic Web is frequently linked to the concept of Web3 as business strategies and web developers envisioned it. Tim Berners-Lee, the inventor of the World Wide Web, initially proposed the idea in 1999. He saw the potential for enabling robots to "speak to one another" and to comprehend and derive meaning from semantic data.
However, corporations and computer scientists are creating more compact and portable applications that use crowdsourcing to organize data on the Web and the interactive features of Web2. As a result, the demand for Web3 and blockchain developers (devs) is rising in the cryptocurrency and Metaverse markets. Read More
Smartphones Could Be What Sparks Mass Crypto Adoption, According to InvestAnswers – Here’s How
A widely followed crypto analyst says that smartphones could onboard huge waves of new users to the world of digital assets.
In a new video update, the host of InvestAnswers says that simplified mobile crypto wallets could be what causes the public to embrace virtual assets.
“If you can simplify the wallet, you can change the game, and this is where [Solana co-creator Anatoly Yakovenko] comes in. The big plan for the solution for mass adoption of crypto is a wallet integrated in a smartphone, and that could help with global economic freedom.
In fact, Anatoly said, ‘What does it look like with one billion people using crypto? What do you imagine? It’s in this device, the device that you use everyday. The phone has to be your hardware wallet. That’s just something that we always felt.’”
The analyst says mobile phones already have all the attributes necessary to support crypto wallets for the masses, including built-in security features. Read More
Also, Updates On New Integrations And The Markethive Wallet
As the bear market continues with its crypto-cleanse and traders bemoan the adverse price action, some industry leaders opine these conditions will eradicate bad actors and create more significant opportunities for upcoming projects and future participants. Several leading crypto analysts and engineers embrace the idea that this is the time to engage in moves leading to the loftiest gains when the bull cycle returns.
Markethive stands firm with these sentiments and continues to build its next-generation entrepreneurial platform and be ready for the market-cleansed bull run. Those on the Markethive journey may be aware that new features are being integrated into the newsfeed in preparation for the five-channel dashboard housing various feeds.
The innovative five-channel dashboard integration will consist of five newsfeeds—the general newsfeed, the blog, the video channel, curation, and surveys.
It will significantly streamline your activities and business facilitation and will include a search engine so you can build your personal algorithms. This will save time and effort by eliminating what you don’t want to see in your newsfeeds, be more intuitive, and enhance the user experience.
CEO of Markethive, Thomas Prendergast, and the team of engineers have made substantial headway with the wallet. It is all but done, and the release is imminent. It’s not a simple wallet that just transfers coins. It is a complete portfolio and accounts of all your transactions, payments, and affairs, including your ILPs. The wallet comprises fourteen major foundational processes and is your internal wallet on the Markethive database. Read More
The Tie Broadens On-Chain Data Support for Avalanche
By fully concentrating and focusing on the significant issues of chain metrics related to its C-Chain and subnets, The Tie, which is the absolute top-of-the-ladder information services provider in the field of digital assets, has successfully and effectively brought to the forefront all possible methods of extending aid to the Avalanche ecosystem.
The Tie Terminal, the quickest workstation for institutional investors of digital assets, is by far the most favoured and honoured amongst nearly a hundred of the most prominent conventional hedge funds, along with the many well-known institutional investors involved in the local crypto arena.
Now, the coming together of the Avalanche on-chain data opens up multiple and worthwhile opportunities for all concerned and related institutions to confidently, without any fear of any sort and any kind of unforeseen threat perception, invest and thereby carry out their trading practices freely. Read More
Fake Solana wallet security update is trying to steal your crypto: Reports
Password-stealing malware is being spread by hackers through NFT airdrops purporting to be Solana Phantom security updates.
For the last two weeks, unknown hackers have been airdropping nonfungible tokens (NFTs) to Solana cryptocurrency users masquerading as a new Phantom wallet security update. However, instead of an update, its malware is designed to steal their crypto.
According to BleepingComputer, the hackers are claiming to be from the Phantom team and using NFTS titled PHANTOMUPDATE.COM or UPDATEPHANTOM.COM.
After opening the NFT, users are told a new security update has been issued for the Phantom wallet and can be downloaded by using the enclosed link or the listed website.
To add urgency, the message claims that failing to download the fake security update, “may result in a loss of funds due to hackers exploiting the Solana network.”
The urgency piece is likely related to the Solana-based wallet hack, which saw roughly $8 million stolen from 8,000 wallets in August, including those of Phantom wallet users. The security exploit was later linked to vulnerabilities within the Solana-based Web3 wallet service Slope. Read More
This project has 25 blockchain games, over 50 million downloads, and big plans
This blockchain gaming ecosystem has a portfolio of 25 games that have been downloaded over 50 million times — and is now preparing to level up.
A blockchain gaming ecosystem says play-and-earn represents "the next wave of disruption" in this $250 billion industry.
Catheon Gaming says the cutting-edge technology that immutable ledgers provide tackles many of the shortcomings that exist in traditional games. In-game assets are completely owned by players, monetizable, and transferable.
Rather than focusing on releasing a single game, this project wants to cultivate a vibrant ecosystem that'll endure beyond the life cycle of any one title. Catheon says it currently boasts a large and growing portfolio of 25 games — and this will be further enriched with the development of its very own metaverse.
A native token that had been responsible for the governance of one game is being rebranded, and will now cater to Catheon's entire gaming portfolio.
Catheon told Cointelegraph: "We are extremely excited to announce our next phase of innovation and growth with the Catheon ecosystem. We have been hard at work over the last 11 months to build the foundations required to execute on this vision and are finally in a position to do so." Read More
BNB Chain to boost European Web3 startups with DApp incubator program
The incubator program focuses on EU-based startups building the next generation of Web3 consumer experiences with an emphasis on accessibility and scalability.
BNB Chain, the blockchain of the Binance crypto exchange and, launched its latest development-focused initiative, which targets European developers building and scaling decentralized applications (DApps) on the network.
The three-week virtual “innovation incubator” program focuses on Web3 startups with at least one key member based in the European Union (EU). Those accepted into the program receive mentorship from industry experts and BNB Chain specialists on tokenomics design and Web3 marketing strategies.
The incubator will host exclusive meet-ups in cities across the continent, such as Lisbon, Paris, Berlin, Barcelona, Warsaw and London.
According to Zoe Wei, senior business director at BNB Chain, the network is looking to support European Web3 startups that consider both accessibility and scalability in pushing for greater adoption.
“Our objective is to guide European builders in making early commitments to these fundamentals in order to grow large user bases in the long term.” 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.
