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MachineFi Wants to Connect the World to Web3 Through W3bstream
MachineFi Lab is releasing W3bstream, a blockchain-agnostic infrastructure tool aiming to disrupt the machine economy.
MachineFi is launching a new product, W3bstream
W3bstream is a piece of infrastructure technology that aims to connect physical devices to blockchains in a simple and efficient manner.
The technology will be rolled out in four different stages; the team expects the network to become fully decentralized by end of 2023.
MachineFi Lab is releasing a new product, W3bstream, which aims to help the traditional world integrate blockchain technology. Read More
Midas.Investments Migrates To Ethereum To Build A More Robust Ecosystem
Midas.Investments, one of the functional CeDeFi platforms in the Web3.0 ecosystem, has recently migrated from the Fantom blockchain to the Ethereum Network.
The move signifies the platform's bold decision to build a more robust ecosystem with enough capacity to service the platform’s growing user base.
Ethereum is the pioneering smart contract blockchain network. It has a robust ecosystem of over 3000 decentralized applications (DApps), and over 500 platforms offering decentralized finance services on the blockchain.
While Ether, the network's native token, has slumped in price compared to its peak in November last year, the protocol has the second largest market capitalization pegged at $183 billion at the time of writing. It also has the largest Total Value Locked (TVL) among its peers, pegged at $31 billion per data from DeFiLlama.
Upon the migration, Midas will be able to boost liquidity, enhance the utility of the MIDAS token for the benefit of all its users, and interact with more DApps while still maintaining good energy efficiency, considering the PoS nature of the protocol. Read More
Cardano Creator Charles Hoskinson Says FTX Implosion Will Cause Issues for Whole Crypto Industry – Here’s Why
Cardano (ADA) creator Charles Hoskinson warns that the FTX crypto exchange fiasco is likely to have negative implications for the digital asset industry.
In a new video, Hoskinson says that while the liquidity troubles facing FTX won’t directly affect the Cardano ecosystem, they will “cause issues” for the crypto industry.
“Effectively speaking, this [FTX’s insolvency] does not directly impact the Cardano ecosystem. But as members of the broader cryptocurrency space, this will likely cause issues for all of us.”
According to Hoskinson, FTX’s potential failure is likely to attract more scrutiny to the crypto industry.
“In particular, there is the case that FTX has been lobbying very heavily in Washington, D.C. Their failure could change the political landscape in unpredictable ways…
The issue here is that should we see more systemic failures, there could be a belief for more regulatory scrutiny or more draconian laws to be passed to enable that scrutiny.
The failure of FTX could result in that which could in turn badly damage the industry or in many cases offshore the American crypto industry. So this is not a minor event.” Read More
Easily move tokens across chains via MetaMask Bridges
MetaMask has released the beta version of its Bridge, allowing users to seamlessly transfer tokens between chains. An increasing number of users have indicated interest in transferring tokens between blockchains, and this trend has accelerated over the past few years.
With increased bridging activity, several bridge aggregators have accommodated users with significant uncertainty. MetaMask Bridge’s beta version aims to reduce guesswork. The goal is to provide the most efficient path for the movement by prioritizing security as well as time and cost.
It only takes a few clicks to access the newly launched feature. Users can either visit portfolio.metamask.io or click Portfolio Site to find the best routing option.
MetaMask Bridge’s operations can be better understood when compared to flight aggregators.
Similar to how flight aggregators present the best options to consumers, MetaMask Bridge will search through all options to display routes that can be efficiently selected by users. Read More
Because of Solana’s POH method, it can horizontally scale the rest of the blockchain, the same way that operating systems and databases scale their software. Each Solana team member has over a decade of experience working in operating systems GPU acceleration. Compilers, networks, etc., giving them extensive and deep experience optimizing software.
Solana is based on scaling software with hardware, with the vision of building the world's largest decentralized, single-chart blockchain. The only way to do that is by scaling all the core technologies with hardware.
Scaling the Blockchain in this way delivers a cheap cryptographic base for financial transfers and, more importantly, outside of finance. It is a way for Solana to build a better web experience for social media communities regarding micropayments.
Also, advertising-based revenues can be relinquished for social networks, leading communities to generate value by self-expression, creating their own content, and growing the network and the connections within the community, creating a better world for all. Read More
Hackers keeping stolen crypto: What is the long-term solution?
In the long run, the industry needs to come together and step up its cybersecurity game in a big way rather than seek out such temporary fixes.
Even as the ongoing Binance-FTX saga continues to dominate the crypto airwaves, there has been a growing trend — an uneasy one at that — that has been garnering the attention of many digital currency enthusiasts in recent months, i.e., hackers returning partial funds for discovering exploits within a protocol.
In this regard, just recently, the bad actors behind the $14.5 million Team Finance attack revealed that they would be allowed to stay in possession of 10% of the stolen funds as a bounty. Similarly, Mango Markets, a Solana-based decentralized finance (DeFi) network that was recently exploited to the tune of over $110 million, revealed that its community of backers was working toward reaching a consensus, one that would allow the hacker to be awarded $47 million as a reward for exposing the exploit.
As this trend continues to garner more and more traction, Cointelegraph reached out to several industry observers to examine whether such a practice is healthy for the continued growth of the digital asset market, especially in the long run. Read More
Exchange outflows hit historic highs as Bitcoin investors self-custody
Confidence in centralized exchanges appears to be waning as Bitcoin flows into self-custody wallets at near-record levels.
Bitcoin investors have been increasingly moving their holdings to self-custody solutions following the collapse of the world’s second-largest crypto exchange last week.
On-chain exchange flow data is showing a surge in withdrawals to self-custody wallets, according to analytics provider Glassnode.
In a Nov. 13 post on Twitter, Glassnode reported that Bitcoin exchange outflows had hit near historic levels of 106,000 BTC per month.
It added that this has happened only three other times — in April 2022 and November 2020, as well as in June/July 2022. It also reported that the number of Bitcoin wallets receiving the asset from exchange addresses surged to around 90,000 on Nov. 9. Read More
Helping mainstream artists into Web3: The triumphs and struggles
As the music industry continues to push into the Web3 space getting artists both mainstream and up-and-coming has its hurdles but also major rewards.
Musicians and executives alike have seen the power of Web3 tools such as nonfungible tokens (NFTs) to transform audiences into active communities with fewer barriers between artists and fans.
Recently, the crypto-savvy Snoop Dogg partnered with country music stars Billy Ray Cyrus and the Avila Brothers to create an NFT experience that crossed genres and created new communities in the process. While Snoop may be a veteran in the space, many musicians find the Web3 world a whole new frontier.
Cointelegraph spoke with Bernard Alexander, the head of IP at the company Animal Concerts, which facilitated the aforementioned NFT collection, to better understand what it takes to bring artists into Web3.
Alexander affirmed that onboarding someone like Snoop is very different from “artists who don’t typically keep up with the Web3 ecosystem.” It also can depend on the size of the artist.
He said It is likely easier to set up smaller artists just getting started who are eager for new opportunities. Whereas bigger artists can sometimes be more laden with partnerships already yet they often have greater influence across mainstream culture:
“All artists, regardless of their size, have something to gain from dipping their toes in the world of Web3.” Read More
CZ and Saylor urge for crypto self-custody amid increasing uncertainty
Binance CEO Changpeng Zhao said self-custody is a “fundamental human right,” while Michael Saylor said self-custody is necessary to prevent powerful actors from accumulating and abusing power.
Industry heavyweights have urged crypto investors and traders to self-custody their crypto assets amid the significant market uncertainty brought on by the collapse of FTX.
In a Nov. 13 tweet to his 7.6 million followers, Binance CEO Changpeng “CZ” Zhao pushed the crypto community to store their own crypto via self-custody crypto wallets.
“Self-custody is a fundamental human right. You are free to do it anytime. Just make sure you do do it right,” he said, recommending investors start with small amounts in order to learn the technology and tooling first:
Speaking to Cointelegraph during the Pacific Bitcoin conference on Nov. 10-11, MicroStrategy executive chairman Michael Saylor also discussed the merits of self-custody given the current market environment.
Saylor suggested that self-custody not only provides investors with property rights, it also prevents powerful actors from corrupting the network and its participants:
“In systems where there is no self-custody, the custodians accumulate too much power and then they can abuse that power.” 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.
