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MakerDAO and DAI Creator Proposes New Native Chain Based on Solana (SOL) Fork
MakerDAO co-founder Rune Christensen is proposing that Maker (MKR) launch its own native blockchain based on the Solana (SOL) codebase.
Writing in a new blog post, Christensen reveals plans for the fifth phase of “Endgame,” the long-term roadmap for Maker that was originally laid out in May of 2022.
In the post from May, Christensen said the fifth and final phase of Endgame was the launch of “NewChain,” a separate chain that houses backend security while interacting with Ethereum (ETH) through a “state of the art bridge.”
Now, Christen says that after researching, a Solana fork should be a candidate for NewChain.
“The last phase of Endgame is the launch of a native blockchain for Maker with the codename NewChain.
It will make the ecosystem more secure and efficient
After some research, I believe the Solana codebase should be considered as the basis for NewChain.” Read More
MetaMask launches feature to sell ETH for fiat
The sell feature on MetaMask Portfolio came roughly five months after the wallet allowed users to purchase crypto using fiat from bank accounts, PayPal, and debit and credit cards.
Cryptocurrency wallet MetaMask has announced the launch of a feature allowing users to sell Ether for fiat currency.
In a Sept. 5 post on X — formerly Twitter — MetaMask said users with crypto wallets connected to the platform’s Portfolio decentralized application would be able to cash out Ether and send fiat to their bank accounts in the United States, United Kingdom and parts of Europe. MetaMask said the initial rollout was limited to ETH but planned to expand to “native gas tokens on layer 2 networks” in the future.
The sell feature came roughly five months after MetaMask launched a function allowing users to purchase cryptocurrencies using fiat from bank accounts, PayPal, and debit and credit cards. The platform said at the time it planned to roll out the "buy crypto" service for more than 90 tokens to users in more than 189 countries. Read More
Coinbase-Incubated Base Suffers Outage, Team Says 'No Funds Are at Risk'
The outage prompted dozens of comparisons to other blockchain solutions and their relative stability.
The Ethereum Layer-2 network Base exhibited some growing pains today, experiencing an outage that lasted half an hour and took another 30 minutes to fully resolve.
"We had a delay in block production due in part to our internal infrastructure requiring a refresh," Base reported on Twitter. "The issue has been identified and remediated. No funds are at risk."
List as a "Base chain stall" on the project status page, the development team reported that "users may have issues submitting transactions" at 5:36 p.m. ET on Tuesday. The issue was identified and a fix developed 14 minutes later, and by 6:09 p.m., Base was "starting to see recovery of block production and gossip." Gossip is node-to-node exchanges of state information.
Despite "widespread recovery," a lingering issue with remote procedure calls (RPCs) delayed the issuance of an all-clear report until 6:06 p.m., 90 minutes after the investigation began. Read More
Future Ethereum Upgrades Could Allow Full Nodes to Run on Mobile Phones: Vitalik Buterin
Planned Ethereum upgrades including stateless clients will help to decentralize the network, said its co-founder at Korea Blockchain Week.
Ethereum co-founder Vitalk Buterin believes that future upgrades to the network could make it possible to run full nodes on mobile devices, helping to decentralize the network and improve its scalability.
Speaking during Korea Blockchain Week, Buterin addressed the decentralization and scalability challenges facing the Ethereum mainnet, as initially reported by CoinTelegraph.
“In the longer term there’s a plan to maintain fully verified Ethereum nodes where you could literally run it on your phone,” Buterin told the conference, reiterating a point on the Ethereum roadmap.
Full nodes are computing devices that validate and verify all transactions and smart contracts on the Ethereum blockchain. 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
Grayscale asks SEC to meet on ‘way forward’ for Bitcoin ETF conversion
“We believe the Trust’s nearly one million investors deserve this fair playing field as quickly as possible,” Grayscale’s lawyers wrote to the regulator.
Grayscale has told the Securities and Exchange Commission it has no legal reasoning left to block the conversion of the asset manager’s flagship Bitcoin fund to a spot exchange-traded fund (ETF).
On Sept. 5, Grayscale’s lawyers sent a letter to the SEC requesting the pair meet to discuss the next steps following the regulator’s court loss regarding the conversion of the Grayscale Bitcoin Trust (GBTC).
“Now that the Court of Appeals has spoken, there is no available rationale that would distinguish a Bitcoin futures ETP from a spot Bitcoin ETP under the legal analysis previously adopted by the Commission in rejecting spot Bitcoin ETPs.”
Grayscale added it believes the SEC should conclude there are “no grounds" for treating the GBTC differently from Bitcoin futures ETFs whose filings “the Commission has previously approved.” Read More
MetaMask Introduces Bank and PayPal Cash-Out Options
"Ensuring a way for users to enter and exit crypto freely is important," the company said.
Users of the MetaMask cryptocurrency wallet can now cash out their digital assets for fiat currency ant send it to a bank account or PayPal account.
The feature is now available in the U.S., U.K., and parts of Europe, MetaMask said in a Tuesday blog post, explaining that users of its browser-based platform can convert their crypto to dollars, euros and pounds. The post added that it has “plans to expand to more regions to cater to our worldwide community.”
“Combined with the Buy feature, it enables you to have a self-sufficient Web3 experience with fewer intermediaries and faster fiat conversion directly to your destination of choice where available, like your bank account or PayPal balance,” the post read. “Ensuring a way for users to enter and exit crypto freely is important, and we hope these options make Web3 attainable to more people." Read More
Casa wallet launches Ethereum vault relay service for increased user privacy
Private key manager Casa has launched a transaction relay feature to offer Ethereum users more privacy when transacting from their personal vaults.
Cryptocurrency self-custody platform Casa has rolled out new functionality for its recently launched Ether vaults, allowing users to transact via a relay for added privacy.
Casa added a multisignature Ethereum self-custody vault to its initial Bitcoin custody offering in June 2023, allowing users to manage the self-custody of their ETH holdings with up to five private keys to secure their assets.
In an effort to afford more transactional privacy to its ETH users, Casa has introduced a mechanism that allows users to use an ETH pay wallet as a relay to create and transact from their vault.
The company explained to Cointelegraph that Casa had previously assisted users with interactions between their ETH vaults and the Ethereum blockchain through its in-house Casa Relay.
This bridge allows users to carry out specific actions, including deploying contracts and sending transactions, while fronting gas costs. The firm noted that a caveat of this function is that users’ Ethereum addresses associated with Casa can be publicly viewed through blockchain scanning tools. Read More
Ripple Labs chair slams Biden, Gensler for having ‘screwed up’ on crypto
Ripple Labs Chair Chris Larsen says that following the recent cases involving Ripple, Grayscale and the Securities and Exchange Commission, it is time for Congress to take the lead on crypto policy.
The United States legal system is set to bring the crypto industry “back in the game” after the Biden administration “screwed up” its crypto policy, says Ripple Labs’ chair and co-founder, Chris Larsen.
Speaking to Bloomberg on Sept. 7 about his firm’s July partial victory over the Securities and Exchange Commission, Larsen argued the regulator lost on “everything that was important to [it] and important in the regulation of the industry.”
“The U.S. screwed up here on crypto and blockchain policy. This is the beginning now through the courts, unfortunately instead of through regulators, to get that clarity and get us back in the game.”
Larsen also commented on the latest court judgment in favor of Grayscale over its application to convert its Bitcoin trust into a spot Bitcoin ETF, noting it “really admonished the SEC [...] in a way that you don't really see very often.” 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.
