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Base network has officially launched: Here’s how it can be used
Coinbase’s Base network completed its phased launch on Aug. 9 and is officially open to end-users.
Coinbase’s Base network has officially launched after spending a few weeks in an “open for builders only” phase. The network is now ready to onboard users, according to an Aug. 9 announcement from the team.
Several Web3 development teams have simultaneously announced that they are releasing apps for Base, and the network’s team has released a schedule of upcoming events to celebrate its launch.
Base initially launched in beta version on Feb. 23. As soon as it was announced, many in the crypto community speculated that it could help to onboard more users into Web3 protocols, thanks to Coinbase’s large user base. The network launched its mainnet version “for builders” on July 13, but the team warned that it wasn’t ready for users yet. On Aug. 9, the network became available for all users.
Here are a few things users can do on Base right now. Read More
Only 6 out of 45 crypto wallet brands have undergone penetration testing: Report
Cybersecurity certification platform CER said the vast majority of wallets do not hire outside experts to perform penetration tests.
A July report from cybersecurity certification platform CER found that only six of 45 cryptocurrency wallet brands, or 13.3%, have undergone penetration testing to find security vulnerabilities. Of these, only half have performed tests on the latest versions of their products.
The three brands that have done up-to-date penetration tests are MetaMask, ZenGo and Trust Wallet, according to the report. Rabby and Bifrost performed penetration testing on older versions of their software, and Ledger Live did it on an unknown version (listed as “N/A” in the report). All other brands listed did not provide any evidence of having done these tests.
The report also provided an overall ranking of the security of each wallet, listing MetaMask, ZenGo, Rabby, Trust Wallet and Coinbase Wallet as being the most secure wallets overall. Read More
Frens Forever? Building a Social Graph on Bitcoin With Ordinals
The creator calls it "a way to use Ordinals to come closer to the Web3 ethos of a decentralized social network on Bitcoin."
A friendly new protocol has just dropped on the ever-expanding Ordinals ecosystem. Dubbed .frens, the project brings the social aspect of Bitcoin onto its immutable blockchain.
Spawning from the decade-old meme term fren–which means friend–the .frens protocol is designed to build a social graph on Bitcoin where users declare their social connections via Ordinals Inscriptions. The protocol also relies on an indexing feature that creates a reputation score depending on how many interactions a particular address has—a measure of social capital.
The protocol shares its name with many other unrelated projects, including a Fren Protocol deflationary pepecoin token, a Frens Protocol oracle API, and a Frenz NFT metaverse. But the .frens protocol—which relies on the Ordbit inscription service—is the only one focused on social connections.
“Making friends and networking is key in real life and the digital domain,” said the protocol’s pseudonymous creator, Doggfather, with the latter type of interaction mostly happening on Twitter. He explained to Decrypt, however, that on the centralized Twitter platform, accounts and handles get seized daily, proving that “you don’t own your network or audience on Web2 platforms.” Read More
It Started With a Meme – Accelerating Growth and Adoption in Web 3.0
They started as a joke – and mostly still are. But that’s certainly not all.
For the first time in history, it’s easy and cheap for a normal person to mint their own currency.
This has enabled a great meeting between po-faced finance and popular culture. This coupling has spawned the memecoin.
Inspired by internet memes and pop culture references, memecoins tend to be highly playful and mischievous even.
They embrace the absurdity of being a genuine currency – one that conveys actual monetary value and can serve as a powerful vehicle of speculation – while being minted under a whimsical banner, such as a cute dog, controversial frog or a luminary’s bald head.
And yet, despite not accurately representing the true depth, innovation and promise of cryptocurrencies and Web 3.0, the hype and humour of the memecoin help attract and focus attention like nothing else in the industry.
Despite their lack of seriousness, and often pump-and-dump nature, they arguably represent the ultimate wide-appeal catalyst for mass adoption – a fun, demystified gateway, transforming passive consumers of Web 2.0 culture into staked Web 3.0 participants. 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
Token Scammers Breach Blockchain Capital's X Account
Venture capital firm Blockchain Capital, fell victim to a sophisticated phishing scam after its social media account on X, previously known as Twitter, was hijacked.
The perpetrators posted a series of fraudulent messages on August 9, promising a giveaway of “BCAP” tokens. They provided a link to a fake website closely resembling Blockchain Capital's original site, intending to deceive users into linking their cryptocurrency wallets.
The fraudulent website had a minor alteration in its URL, adding an extra 'n', a detail easily missed by unsuspecting users. The scam strategy also involved a sense of urgency by stating the giveaway would only be available for a day, aiming to exploit the fear of missing out. Notably, to prevent potential exposure, the comments section was deactivated, inhibiting users from flagging the scam.
Prompt action from informed members of the blockchain community led to the swift identification of the deceit. Blockchain Capital reestablished control over its account within hours, removing the misleading posts. Read More
Coinbase layer-2 network Base hits 136,000 daily active users
Around 30% of Base’s users on Aug. 10 were new to the blockchain, which launched only a day prior.
Daily active users on Coinbase’s layer 2 blockchain have exceeded 100,000 for the first time, just the day following the official launch of the network.
Dune Analytics figures from Aug. 10 show over 136,000 daily users, the highest daily number in its short history, which also coincides with the second day of its public release.
Around 30% of the daily users on Aug. 10 were new Base users, who amounted to nearly 42,000 — although the record stands at over 60,000 on July 31.
Meanwhile, crypto market data platform CryptoRank in an Aug. 10 X post revealed Base now ranks 4th in daily transactions per second among layer 2 solutions, behind zkSync Era, Arbitrum and Optimism. Read More
5 things crypto must get right for mainstream adoption to happen
Mainstream crypto adoption will require an enormous effort, and it’s still likely to be several years away.
Crypto functions much like traditional fiat money, offering an easy way to pay for goods and services and compensate workers for their labor. What’s even more promising is that crypto offers a number of benefits over fiat, with its decentralized nature eliminating the need for centralized intermediaries. Depending on the blockchain, transactions can be processed much more quickly than traditional payments are.
These added benefits have attracted the eye of a growing number of institutional figures and prominent politicians who acknowledge the economic advantages of crypto. In the last few years, the adoption of crypto has soared, and Bitcoin has even been made legal tender in countries such as El Salvador and the Central African Republic. But crypto still has a long way to go before it can claim that mainstream adoption is a reality. In fact, there are still a number of significant hurdles that prevent it from happening. Read More
Bitcoin Network's Inherent Properties Can Be Leveraged to 'Enhance the Security of PoS Chains' — Babylon Chain CTO
Fisher Yu, the co-founder and chief technology officer (CTO) at the bitcoin staking protocol Babylon Chain, has argued that when staking bitcoin, stakers “do not need to trust or give their bitcoins to any third parties.” According to Yu, such an attribute helps to “eliminate the need for bridges and lenders” when staking bitcoins.
The CTO told Bitcoin.com News that proof-of-stake (PoS) blockchains and app chains can also potentially benefit from the robust bitcoin-grade security that a bitcoin staking protocol brings. As explained in Babylon Chain’s whitepaper, bitcoin staking means holders of the top crypto asset can “trustlessly stake their bitcoins without bridging them to the PoS chain but yet provides the chain with full slashable security guarantees.”
Concerning the so-called blockchain trilemma (a network’s inability to simultaneously excel in security, scalability, and decentralization), Yu insisted that this can be overcome by “allowing bitcoin holders to stake their idle bitcoins,” which in turn helps to “enhance the overall economic security of PoS chains.” Yu, in the meantime, revealed how the Bitcoin network’s timestamping service “enables tight synchronization between the Bitcoin network and the PoS chains.” According to the CTO, it is this synchronization which enables “bitcoin stakers to have fast unstaking without affecting the PoS chains’ security.” 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.
