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A Supreme Court case could kill Facebook and other socials — allowing blockchain to replace them
If the Supreme Court decides to strike down Section 230, it's going to become considerably more difficult for centralized social media companies to operate.
The internet — arguably the greatest invention in human history — has gone awry. We can all feel it. It is harder than ever to tell if we are engaging with friends or foes (or bots), we know we are being constantly surveilled in the name of better ad conversion, and we live in constant fear of clicking something and being defrauded.
The failures of the internet largely stem from the inability of large tech monopolies — particularly Google and Facebook — to verify and protect our identities. Why don’t they?
The answer is that they have no incentive to do so. In fact, the status quo suits them, thanks to Section 230 of the Communications Decency Act, passed by the United States Congress in 1996.
But things may be about to change. This term, the Supreme Court will hear Gonzalez v. Google, a case that has the potential to reshape or even eliminate Section 230. It is hard to envision a scenario where it wouldn't kill the social media platforms we use today. That would present a golden opportunity for blockchain technology to replace them. Read More
Algorand to support bank and insurance guarantees platform in Italy
This is the first time an EU member state will use blockchain technology for bank and insurance guarantees, according to Algorand.
Layer-1 blockchain platform Algorand has been chosen as the public blockchain to support an “innovative digital guarantees platform” to be used in Italy’s banking and insurance markets.
The Algorand-supported platform is expected to launch in early 2023. According to Algorand’s Dec. 13 announcement, this is the first time a European Union member state will use blockchain technology for bank and insurance guarantees.
A bank guarantee is when a lending institution promises to cover a loss if a borrower defaults on a loan. It’s an alternative to providing a security bond or a deposit to a supplier or vendor. An insurance guarantee is similar but is offered by an insurance company rather than a bank.
Algorand said that blockchain technology was ideally suited for the “digital sureties” platform because of its fast, efficient, low-cost and scalable data transactions, as well as its ability to provide protection against fraud. Read More
Apple Plans to Allow External iOS Apps in Potential Boon for Crypto, NFTs
The tech giant plans to let iPhone and iPad users install apps from outside the App Store, a new report claims, due to EU regulations.
Apple plans to allow the installation of iOS apps from external sources due to impending EU regulations, Bloomberg reports.
The move could make it easier for developers to build apps around NFTs and broaden the ability to make crypto payments through iPhones and iPads.
Apple’s “walled garden” ecosystem design has enabled it to take up to a 30% cut of iOS app and service sales, to the frustration of users and creators alike. But a new report suggests that Apple is planning to open up its ecosystem—a move that may benefit apps built around NFTs and possibly expand the ability to make mobile crypto payments.
Bloomberg reports that Apple plans to enable the installation of apps from external sources outside of its own App Store on iPhones and iPads, according to sources familiar with the plans. The changes are being made in response to the European Union’s Digital Markets Act, which requires tech companies to fully comply with restrictions by 2024.
According to the report, the rollout of support for external apps from third-party sources and marketplaces will initially begin only in Europe to comply with the new law. However, the functionality could be expanded to other territories depending on whether those countries adopt similar regulations. Read More
Avalanche’s Core Wallet Goes Mobile With Android Launch
With the release of a mobile version, Ava Labs’ Core Wallet is taking an important step towards creating an interconnected Web3 experience.
Ava Labs, the development company behind the Avalanche blockchain, today announced the release of Core Mobile, a mobile version of its flagship non-custodial multichain wallet.
First launching on Android with support for iOS slated for 2023, Core Mobile aims to connect DeFi, NFT, and gaming ecosystems across the Avalanche, Bitcoin, and Ethereum networks, as well as other EVM-compatible blockchains.
This release now gives users three ways to use Core—browser extension, web, and mobile—creating an interconnected Web3 experience, Ava Labs said in a press release shared with Decrypt.
“Core mobile is designed to give people maximum control over their crypto, while ensuring the product is intuitive enough for anyone to use Web3,” Ava Labs Head of Product Nick Mussallem said in a statement. “Mass adoption is coming, and Core will be the gateway for people who want a single platform that can do it all without the hassle of multiple wallets.” 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
Charles Hoskinson Says Solana (SOL) Could Become Sidechain of Cardano (ADA) – Here’s Why
Charles Hoskinson thinks smart contract protocol Solana (SOL) could theoretically become a sidechain of the Cardano (ADA) network.
During a new YouTube AMA session, Hoskinson lays out what sidechain partnerships look like on Cardano.
“For six years now, we’ve been talking about this, thinking about this, pushing this forward, this concept that you have one main chain and a family of sidechains and each and every one of them does different things. And the sidechains model of Cardano is that if a sidechain comes in and connects to Cardano, that sidechain is a partner of the main chain. The main chain provides security, it provides infrastructure, it provides an ecosystem and it provides liquidity.
It’s listed on 200-plus exchanges, all these types of things, so you have all that scale, and in exchange for that, the partner chain, instead of paying its inflation to miners who are a nexus within that chain, it pays the inflation (the block rewards) to the stake pool operators and the ADA holders, because Cardano’s taking care of the security of the sidechain.”
The Cardano founder says a sidechain can have its own computation model, its own notion of data availability, its own network stack and its own consensus algorithm.
Hoskinson says Solana would be in a much better position if it teams up with Cardano. Read More
MetaMask Launches PayPal Integration for Ethereum Purchases
Some U.S. MetaMask users can now buy Ethereum directly from their wallet using PayPal.
MetaMask has added a PayPal integration to its software wallet, allowing U.S. users to purchase Ethereum directly from its mobile app. While the feature is not yet available to all U.S. users, MetaMask plans to slowly roll out the feature “in the coming weeks.”
According to the announcement, the PayPal integration will only be available through the MetaMask mobile app. The MetaMask browser extension already offers U.S. users the ability to purchase cryptocurrency directly from their wallet through CoinbasePay, Transak, MoonPay, or Wyre.
In a statement, MetaMask Product Manager Lorenzo Santos said that the new feature will make it easy for users to venture further into Web3.
“This integration with PayPal will allow our U.S. users to not just buy crypto seamlessly through MetaMask, but also to easily explore the Web3 ecosystem,” Santos said.
Santos told Decrypt via email that the PayPal integration will be available on MetaMask's desktop browser extension "in the next quarter."
Santos also confirmed that MetaMask's 1% service fee will apply to all purchases, as well as applicable PayPal fees. When asked if Apple's 30% in-app purchase fee would also apply to such ETH purchases made on the MetaMask mobile app, Santos said that MetaMask "cannot provide any information regarding this at the moment." Read More
Opera launches security tools to protect users against malicious Web3 actors
The browser also features the ability to enable HTTPS everywhere, bringing an extra layer of protection and making sure the websites people visit use proper encryption protocols.
Web3 browser Opera has announced a new set of security tools intended to help its users mitigate common risks associated with malicious actors in the Web3 ecosystem.
The new set of security tools called Web3 Guard is a suite of browser security features that promises to protect users against malicious decentralized applications (DApps), seed phrase phishing attacks and malicious actors.
The security tool scans for known security risks associated with DApps, such as suspicious code, security vulnerability and audit history. This helps users to get a better insight into the DApp they are planning to browse and alerts them in case any of the mentioned vulnerabilities are found.
The built-in security tools would also check for any seed phrase phishing attacks by scanning web pages for telltale signs of exploit, such as common phishing keywords and properties, without compromising users’ privacy or personal data. Danny Yao, senior product manager of crypto at Opera told Cointelegraph:
"Currently, Web3 Guard provides warnings and information to users so that they are not only aware of the potential risks in the moment, but also gradually become more familiar with the types of dangers specific to Web3. " Read More
Family-friendly NFTs bring the next generation of youth into Web3
As Web3 tools and features become integrated into many known Web2 communities, creating NFTs that are family-friendly becomes a need in the space.
Nonfungible tokens (NFTs) continue to be a dominant force within the Web3 space for increasing innovation and adoption. As the space continues to push its way into mainstream adoption, Web3 will reach new demographics, including the youth.
Recently, big-name entertainment company Disney, which is highly catered toward children, has expanded to include crypto-savvy team members and created partnerships with the Polygon blockchain network.
Such developments hint at an impending entrance of large entertainment companies into the world of Web3. However, big questions arise if Web3 content is to be created for minors, such as how does an NFT become kid-friendly? How does true ownership work when minors are involved?
Cointelegraph spoke with Jeremy Fisher, an artist and the founder of Lucky Ducky — a family-friendly NFT collection — about how to create Web3 content for kids and bring them into the next generation of digital interactions. 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.
