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Watch out ERC-404, there’s another hybrid NFT standard in town
DN404, another experimental hybrid token and NFT standard, was launched by a group of developers who claim they’ve fixed the inefficiencies of ERC-404.
Only a week after the launch of ERC-404 — an unofficial Ethereum standard created to blend the functions of fungible and nonfungible tokens (NFTs) — another team of developers claims to have done it better with DN404.
The “Divisible NFT” standard, like its ERC-404 rival, “aims to be a hybrid ERC-20/721 token.” The proposed standard essentially allows NFT holders to trade fractionalized portions of their NFT with others, according to pseudonymous developer “cygaar” in a Feb. 12 X post.
“Our end goal was to create a token standard that could act as an NFT with native fractionalization built in,” cygaar added. They claimed while ERC-404 has been popular, “it doesn’t follow existing standards, is inefficient, and breaks at certain edge cases.” Read More
Blockchain can unlock $400B in global financial innovation
Major financial institutions and technology firms are realizing the transformative impact of blockchain and billion-dollar opportunities in the tokenization of private assets
Blockchain technology is close to unlocking a $400 billion revenue opportunity for asset managers by enabling the tokenization and fractionalization of private assets, according to Polygon’s head of institutional capital, Colin Butler.
Speaking exclusively to Cointelegraph, Butler unpacks how the broader financial sector is on the cusp of launching products and services built on blockchain protocols that could fundamentally disrupt the landscape of global finance.
Butler, who joined Polygon after a two decade long career on Wall Street, highlights a changing narrative toward institutional adoption as major investment firms like KKR began tokenizing significant funds using nascent blockchain platforms.
“KKR tokenized their healthcare fund via Securitize on Avalanche and that really opened up the floodgates for tokenization and institutional adoption, using blockchain as a utility, as a software platform,” Butler explains. Read More
Analog Secures $16 Million for Web3 Interoperability Boost, Launches Cross-Chain Partnership Program
The Web3 blockchain interoperability protocol, Analog, announced securing $16 million in investments from a consortium of backers. The roster of investors boasts names like Tribe Capital, Near, Outliers Fund, Black Label Media, Orange DAO, Mike Novogratz’s Samara Asset Group, Balaji Srinivasan, executives from OMG Network, Benqi Finance, Quantstamp, Mask Network, Wintermute, Presto Labs, GSR, NGC Ventures, Gmjp Web3 Fund, Ocular Fund, Global Coin Research, and Alumni Ventures.
At its core, Analog is a Web3 platform focused on enhancing cross-chain interoperability. It provides a set of omni-chain interoperability protocols designed to streamline access to Web3 data and facilitate seamless cross-chain interactions. Anchored by its Timechain, the platform functions as an open network supported by a changing cadre of validators, employing the nominated proof-of-stake (NPoS) consensus mechanism alongside the proof-of-time (PoT) protocol. Read More
Ethereum Co-Founder Vitalik Buterin on Tackling Deepfake AI Risks: 'Ask Security Questions'
Vitalik Buterin, a co-founder of Ethereum, has referred to the deepfake issue, stating that the answer to these impersonating attempts in security environments can be tackled without using cryptographic techniques. While commenting on an event where a financial officer made a transaction worth $25 million after being tricked by attackers using deepfake technology, Buterin stated that security questions, among other measures, could have prevented this from happening.
Buterin stressed that deepfakes, which use artificial intelligence (AI) tech, have improved exponentially over the years, with attempts going from “embarrassingly obvious and bad” to increasingly difficult to distinguish from the real deal. This makes security questions and a stack of mutual acknowledgment techniques necessary nowadays. Read More
Great news, Markethivers! The wallet is now installed on the Markethive platform. Markethive has kept its promise and delivered a complete working wallet. This mighty, robust, and secure wallet encompasses all aspects of facilitating your business and securing all your financials within Markethive, like earnings and payments, dividends paid from your ILPs, retail products, etc.
This is a significant step in the right direction for monetizing Markethive’s ecosystem as it endeavours to ensure and restore sovereignty and financial freedom increasingly being stripped from us by a global authoritarian regime. This article will illustrate what you need to know and do to access the now-operational wallet.
Understand that access and functions of the wallet are only for Entrepreneur One (E1) members at this stage. E1 members can now retrieve their Hivecoin (HVC) from their cold storage to their hot wallet. (You can do this in preparation for the forthcoming coin exchanges and your 3rd party self-custody wallet.) You can also transfer HVC to other members within Markethive via the wallet. Read More
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Ripple acquires Standard Custody & Trust, its second custody provider
Ripple bought Swiss custody provider Metaco last year, but Standard has a New York BitLicense.
Ripple has acquired Standard Custody & Trust Company, a United States digital asset custody provider. The company already had ties to Ripple through its executives.
Standard Custody & Trust Company offers custody and escrow services under a charter granted by the New York State Department of Financial Services and is a qualified custodian in accordance with federal legislation. “Standard Custody's limited purpose trust charter and its money transmitter licenses will contribute to Ripple’s growing portfolio of regulatory licenses,” Ripple said in a statement.
Ripple operates a payment network and supports the XRP cryptocurrency. Along with its subsidiaries, Ripple already holds a New York BitLicense and nearly 40 money transmitter licenses in American states, it said. Ripple president Monica Long told Cointelegraph:
“This acquisition of Standard Custody and its licensing portfolio afford us the possibility to serve customers in new ways – all in service of our goal to become the one-stop shop for enterprises looking to tokenize, store, move, and exchange value.” Read More
Gaming Projects Set to Unlock $175 Million in Tokens Within Weeks
Some major gaming tokens have sizable unlocks in the coming weeks, including The Sandbox and Immutable. Here’s what to watch out for.
Some sizable gaming token unlocks are set to take place between now and the end of February, increasing the circulating supply for tokens tied to games like The Sandbox (SAND) and Parallel (PRIME). These unlocks could impact the market price, so traders keep tabs on such moves.
The Sandbox is up first, according to estimates from crypto dashboard TokenUnlocks, with 205.59 million SAND expected to be unlocked on Wednesday between team, advisor, and company reserve allocations. That tally represents about $99.2 million worth of SAND at the current price, and equals about 9.2% of the current circulating supply. Read More
Angel Drainer targets users with malicious Safe contract: $403K stolen
The notorious phishing group deployed a nefarious Safe vault contract that used Etherscan to provide victims with a “false sense of security.”
Notorious phishing group Angel Drainer has reportedly stolen over $400,000 from 128 crypto wallets through a new attack vector that leveraged Etherscan’s verification tool to cover up the malicious nature of a smart contract.
The attack started at 6:40 am Feb. 12 when Angel Drainer deployed a malicious Safe (formerly Gnosis Safe) vault contract, according to a Feb. 13 X post from blockchain security firm Blockaid.
A total of 128 wallets were then signed a “Permit2” transaction on the Safe vault contract, leading to $403,000 in funds being stolen. Read More
Ethereum stakers among recipients as Starknet readies ecosystem token distribution
Ethereum layer-2 scaling protocol Starknet will begin distributing its native network token on Feb. 20, with 700 million STRK tokens allocated across nine recipient categories.
Ethereum layer-2 scaling protocol Starknet will begin distributing its native network token on Feb. 20, with Ethereum stakers among the recipients of STRK tokens.
Information shared with Cointelegraph highlights that around 1.3 million wallets will be eligible to claim Starknet’s native token, including those of Ethereum solo and liquid stakers, Starknet developers and users, as well as projects and developers from outside the Web3 ecosystem.
Starknet is among Ethereum’s major L2s that pioneered zero-knowledge rollup (ZK-rollup) technology. The protocol allows transactions and smart contract functions to be processed off-chain, with cryptographic proofs submitted to Ethereum to access the security guarantees of its underlying blockchain. 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.
