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Bitcoin Ordinals Creator Casey Rodarmor Expands Ecosystem with "Runes"
Casey Rodarmor, known for Bitcoin Ordinals, introduces "Runes," a new fungible token protocol for Bitcoin.
"Runes" aims for a simplified user experience and responsible UTXO management.
The announcement comes after the success of Bitcoin Ordinals, another innovative protocol by Rodarmor that transformed satoshis into NFTs.
Casey Rodarmor, who gained prominence for his creation of Bitcoin Ordinals, has announced a new fungible token protocol for Bitcoin named "Runes." The announcement was made on September 26, 2023, and quickly gained over 250,000 views. This comes after the success of Bitcoin Ordinals, a system that transformed individual satoshis into non-fungible tokens (NFTs), adding another layer of innovation to the Bitcoin blockchain. Read More
Trezor releases new hardware wallet and metal private key backup
Trezor is celebrating its 10th anniversary by releasing three new self-custody products, with a focus on providing entry-level devices.
Trezor, a major provider of hardware cryptocurrency wallets, is celebrating its 10th anniversary by releasing three self-custody products, including a new Trezor wallet, a proprietary private key backup solution and a Bitcoin-only wallet.
The Czech Republic-based company officially announced the launch of Trezor Safe 3, its brand-new hardware wallet supporting more than 7,000 cryptocurrencies, on Oct. 12. The firm highlighted that the new wallet launch marks an important milestone in Trezor’s provision of entry-level hardware wallets.
The release of the Trezor Safe 3 wallet comes nearly five years after the hardware wallet firm rolled out the Trezor Model T in February 2018. Retailed for $79, Trezor Safe 3 is available in four colors: solar gold, stellar silver, galactic rose and cosmic black.
The new wallet device maintains Trezor’s commitment to open-source development, applying open-source principles in using the security component, the announcement notes. Trezor has chosen a third-party secure element vendor that allows it to publish any potential vulnerabilities it discovers. Read More
Here’s the Obvious Use Case for Crypto, According to Solana Creator Anatoly Yakovenko
Anatoly Yakovenko, co-founder of smart contract platform Solana (SOL), is naming what he says is an “obvious” use case for crypto and blockchain.
In a new interview with Austin Federa, head of strategy at the Solana Foundation, Yakovenko says simple payments are one obvious use case for digital assets that anyone can benefit from.
“I’m actually more focused on trying to do stuff that’s obvious today. I think that’s just really important, to try to get users to go do the things that already work at scale – and those are payments. Very simple kind of thing – let’s send money to each other in a cheap and fast way without [going] around the world.”
According to Yakovenko, crypto assets could help simplify finance over the internet, as well as let content creators work for themselves rather than be tied to the financial systems of their hosts. Read More
Uniswap launches Android wallet beta for Google Play
Uniswap launched a beta version of its wallet app for Android, paving the way for a Google Play Store launch once testing is complete.
Decentralized crypto exchange Uniswap launched a closed beta Android version of its mobile app on Oct. 12, according to a blog post from the app’s development team. Uniswap has previously only been available on PC and iOS mobile devices.
Uniswap is the world’s largest decentralized crypto exchange by cumulative volume, having processed over $1.7 trillion worth of trades since its inception, according to data from DefiLlama. Most of its trades have been done via a web-based application. However, the team launched a mobile app for iOS on April 13. Prior to this date, the team had complained that Apple was holding up the app’s launch in the App Store. Even after getting the green light from the App Store, Uniswap still did not have a dedicated app for Android devices.
According to the Oct. 12 announcement, the new Android beta app allows users to select coins on different chains without switching networks. 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
This wallet management system could redefine payments at the intersection of TradFi and crypto
A digital wallet system is reshaping the financial landscape by targeting non-tech-savvy users to make Web3 easy for everyone.
It can be challenging for newcomers to explore the crypto and Web3 world, and the gap between traditional finance and crypto makes matters worse. This wallet management solution addresses these challenges by simplifying crypto interactions.
Web3 can empower communities and individuals through the utilization of blockchain infrastructures and trustless systems. However, this emerging ecosystem presents many challenges due to its complex nature and the division between the Web3 space and traditional financial systems.
The decentralization and processes associated with digital currencies can be less familiar to those accustomed to traditional banking, with its concepts and onboarding steps often posing adoption hurdles. This challenge is heightened by the disjointed infrastructure between bank accounts and crypto wallets, resulting in intricate and cumbersome transfers across these ecosystems.
Digital assets offer a potential solution to key challenges in traditional finance (TradFi), particularly those tied to financial and demographic limitations. Read More
Crypto Gaming Attracted $600M Worth of Q3 Investment Despite Bear Market
While the gaming industry continues to be plagued by mass layoffs, crypto gaming is still seeing many millions invested each quarter.
The nascent blockchain gaming industry is still seeing substantial venture capital investment despite continued challenges in the broader crypto and gaming markets. Blockchain games received approximately $600 million in Q3 2023, according to a report released by crypto data firm DappRadar.
That mark is down 38% from the $973 million worth of crypto gaming investment that DappRadar tracked in Q2 2023. It puts the tally at roughly $2.3 billion in funding so far this year. While 2023 isn’t over yet, this $2.3 billion in funds so far is a mere 30% of what was raised across all of last year.
This year has been tough for game studios, both in and outside of crypto. GamesIndustry.biz reported that over 6,100 jobs have been eliminated across the entire gaming industry in the past year. Firms like Epic Games, Telltale Games, and Team17 have laid off staff within the past month—and gaming-focused crypto companies like Star Atlas studio ATMTA and Otherside developer Yuga Labs have also laid off staff this year. Read More
MetaMask Crypto Wallet Briefly Pulled from Apple App Store
The app was restored within hours, while other wallet apps remained available.
MetaMask, one of the most popular cryptocurrency wallet applications, was removed from Apple's App Store in the United States on Saturday but was restored within a few hours.
The app was removed due to "an internal operational error on our end," a MetaMask spokesperson told Decrypt, rather than an action taken by Apple.
The development was first reported on Twitter by @WatcherGuru.
A comment from an account apparently belonging to a MetaMask representative responded quickly, confirming that the team is aware of the issue.
"We're aware, working on figuring out what happened, and resolving the issue ASAP," replied @tayvano_, believed to be MetaMask lead product manager Taylor Monahan. "Please report and let us know if you see any fake MetaMask apps that are in the App Store. The biggest harm in removing legit apps is it makes room for malicious apps and phishers." Read More
What is blockchain network congestion?
Blockchain network congestion refers to a situation where the number of transactions exceeds the network’s capacity, resulting in processing delays.
When there are more pending transactions than the network can handle, blockchain networks get congested. Limited block sizes and the length of time required to construct a new block are the causes of this issue.
Transactions are delayed, and users notice slower processing times when the volume of transactions exceeds the network’s capacity to confirm them quickly. The release of BRC-20 tokens on the Bitcoin blockchain led to a rapid increase in transactions, resulting in Bitcoin network congestion.
Increased usage, high transaction volumes and events like initial coin offerings (ICOs) can strain the system and cause congestion. Users may choose to pay extra fees to have their transactions prioritized, which raises expenses even more during these busy periods. Moreover, transactions become more expensive and less efficient as a result of the congestion, which also affects the overall user experience.
However, blockchain networks are always working on ways to improve scalability, ensure smoother transactions, and reduce congestion-related problems, such as protocol updates and layer-2 scaling solutions. These initiatives are essential for widespread adoption because they increase the robustness and effectiveness of blockchain networks, even in times of heavy demand. 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.
