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How this decentralized social media platform plans to bring the next billion users to Web3
Web3 brings the next evolutionary stage of social media, promising a decentralized approach to overcome challenges related to privacy, ownership, and equitable monetization.
The next iteration of the internet, Web3, is proposing a new infrastructure based on blockchain technology to build a democratic global social media ecosystem that caters to all stakeholders.
Web3 adepts hope that the widespread adoption of blockchain technology will solve some of the major challenges that have plagued social media, including monopoly, privacy issues, poor monetization practices for creators, fake news, and the overall lack of control for users.
While there are already great Web3 social media alternatives, they still have some pain points to address in order to ensure mass adoption of decentralized platforms. Read More
Near Foundation and Polygon Labs Partner to Build Zero-Knowledge 'Prover' for WASM Chains
Near Foundation and Polygon Labs recently announced that they would build “a zero-knowledge (ZK) prover for WASM blockchains.” For WASM chains using the zkWASM prover, settling transactions will be more efficient and cost-effective with maximum security guarantees.
Transaction Settling More Efficient and Cost-Effective:
Near Foundation, the organization supporting the development of the NEAR ecosystem, has partnered with Polygon Labs to “build a zero-knowledge (ZK) prover for Webassembly (WASM) blockchains or zkWASM for short.” According to a joint press release, the two entities’ zkWASM prover, which is set to be launched in 2024, is positioned “to lead the market among other wasm provers.”
For WASM chains using this prover, the settling of transactions will be more efficient and cost-effective with maximum security guarantees. Commenting on Polygon Labs’ decision to partner with Near Foundation, co-founder Sandeep Nailwal said: Read More
How to bear the bear market: Web3 tips
This is the moment to stay true to your vision and remember why you began in the first place.
In the last bear market, crypto was still in the discovery phase as users were wondering whether blockchain assets are a legitimate long-term trend or just a fad that should’ve been sold at the top. This time, the top industry players, including Microsoft, Google and Reddit, are moving into Web3 products, and top banks such as JP Morgan and Franklin Templeton are testing the waters by settling transactions on-chain.
Bear markets also bring uncertainty to builders. VC investment into Web3 startups has fallen to its lowest since 2020. VCs that were deploying rapidly in the bull market take more time to evaluate projects and weigh valuations before investing. However, bear markets come with an upside. They wash out the short-term arbitrageurs focused on money grabs and take crypto back to its roots — building a decentralized, secure and equitable future.
Here are five steps you can consider to get in shape to deal with the bear market blues and position yourself for what comes after. Read More
Privacy-first, copyright-friendly content is key to driving Web3 adoption
Web3 offers a transformative online space, yet its complexity hinders adoption. Can leveraging content make Web3 more accessible and drive its adoption?
ReadON brings high-quality content to Web3 by providing a seamless and user-friendly experience, helping projects build stronger relationships with their users and driving the adoption of decentralization.
While Web3 holds the promise of mitigating the drawbacks of Web2, its adoption remains sluggish among content creators and end users alike.
The reluctance of users to adopt Web3 is due to a confluence of factors, the most important of which is the perceived complexity of the Web3 ecosystem. Navigating the intricate maze of Web3 operations, which involves managing multiple wallets, chains, bridges, and pools, is a daunting challenge for users, hindering their engagement and leading to poor user retention. This low user engagement is further exacerbated by the lack of immediate, tangible benefits for content creators and Web3 projects. Read More
We have a lot to be grateful for within Markethive. It’s like stepping out of the rat race into an oasis of humanity at its best. As an inbound marketing, business-based blockchain platform with an inherent entrepreneurial spirit, we have all the tools to get our message out to the whole world. We have a social media interface with a collaborative ethos rarely experienced on legacy social media.
We are starting to see new integrations in the blogging section in preparation for the customized, more intuitive interface and dashboard of Markethive and, of course, the Markethive Wallet that will facilitate the Merchant accounts for members as well as personal transactions, the Vault, etc.
The new-look Blogcasting Hub is located at the top of all blogs in the system. Blogcasting is a term introduced by Markethive and is an enhanced broadcasting system. In the traditional broadcasting sense, only the people who physically subscribe to your blog or newsletter are usually notified of your updates via email.
With this blogcasting system, your social networks are informed of your blog as and when you publish them. What this means is the potential reach is into the millions. Read More
Swan Bitcoin to Terminate Accounts Interacting With Bitcoin Mixing Services
Swan Bitcoin, a bitcoin exchange platform, announced recently that it would terminate accounts of users directly interacting with mixing services. The company explained that this was due to the pressure from banking institutions after the Financial Crimes Enforcement Network (FinCEN) presented a proposal to increase the bookkeeping requirements on these transactions.
Swan Bitcoin, a California-based Bitcoin services platform, recently announced a change in its policies regarding mixing services. The company sent a letter to its customers stating that from now on, accounts that interact directly with transactions coming from or going to coin mixing services risk being terminated.
The company explained that this change had to do with the pressures that its banking partners had been exerting due to the introduction of a Financial Crimes Enforcement Network (FinCEN) proposed rule that seeks to establish new responsibilities on institutions facilitating transactions that include mixing services. Read More
LINK To Be ‘Universal Gas Token’? Sergey Nazarov Explains Potential for Rapid Chainlink Adoption
Chainlink creator Sergey Nazarov says LINK could be the future universal gas token for the digital asset ecosystem.
In a new interview, Nazarov explores the payment abstraction layer (PAL) of Chainlink’s tech stack, which aims to minimize the complexity of paying for its services while allowing oracle networks to get paid in LINK.
According to Nazarov, the abstraction layer will make it easy for developers to make payments in whatever medium of exchange they want while converting the payments into LINK, bringing more utility to the LINK token.
“Payment abstraction is the way that the Chainlink network is going to simplify the ability of developers to pay the forms of value that they have the most access to. So the forms of value related to their own token. They’ll eventually be able to pay in their own token. The ability to pay in the native token of the chain that they’re on, which they may have, the ability to pay in stablecoins, and eventually, also, the ability to pay in credit cards or whatever – whatever category of payment they’re comfortable with." Read More
GSBN partners with ZAN to harness Web3 to tokenise eBLs
Global Shipping Business Network (GSBN), a not-for-profit consortium enabling efficient, paperless and sustainable growth in global trade with its data infrastructure and ecosystem of partners, has partnered with ZAN to explore technical innovations for tokenising the electronic Bill of Lading (eBL) with the support of Hong Kong’s Web3 environment, to unlock new economic values for participants in global trade.
As a technology brand of Ant Group Digital Technologies, ZAN brings reliable and cost-efficient technical products and services for blockchain application development to the Web3 community. The announcement was made during Hong Kong FinTech Week, the city’s flagship fintech conference. This comes at a time when there is growing investment and focus in Web3 development in Asia, particularly in Hong Kong which is establishing itself as an integrated international finance and digital asset hub. Read More
OKX Launches Layer-2 Network In Partnership With Polygon
Cryptocurrency exchange OKX has revealed that it is launching its own zkEVM (zero-knowledge Ethereum Virtual Machine) Layer-2 testnet in partnership with blockchain developer Polygon Labs.
The development sees OKX join a growing list of crypto exchanges building their own Layer-2 networks.
The OKX-Polygon Labs Collaboration will see the launch of a new Ethereum Layer-2 called X1. The testnet, which was launched today, will use zero-knowledge (ZK) proofs to enable quick and low-cost transactions on a secure network, compatible with Ethereum. The network will mark OKX’s first step towards building and developing its own on-chain environment. OKX’s Chief Innovation Officer, Jason Lau, while talking about X1 and the collaboration with Polygon Labs, stated,
“This scalable and accessible network is perfect for developers who can build on X1 to deliver user-friendly world-class consumer Web3 applications, all while maintaining interoperability with other networks and ecosystems. X1 will be a key pillar of our efforts to educate and bring our users on-chain and into the world of Web3. By collaborating with Polygon Labs, we look to bring more builders, more use cases, and ultimately the mass adoption of Web3.” 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.
