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Decentralists criticize Uniswap's new privacy policy.
As a consequence of the recently revised privacy policy of the decentralized exchange (DEX) Uniswap, it seems that some users are displeased with the service. These people are worried that the practice of gathering and storing user data violates the core ideas behind cryptocurrencies.
A few vocal members of the community have replied in recent days to a blog post that was written back in November and published on the website to announce an updated privacy policy for the organization. They have mentioned in their comments that it is rare for a decentralized firm to obtain and preserve information about its users. This is something that they have stated.
Being open and honest is really necessary.
It was stated there that they did not want any of their customers to be surprised at any point.
This privacy policy, which was most recently updated on November 17th, reveals that the exchange collects data from publicly-available blockchains, information about user devices such as browser information and operating systems, and information about users' interactions with the exchange's service providers, amongst other types of information. The most recent update to this policy occurred on November 17th. Read More
Cardano to launch algorithmic stablecoin in January 2023
Cardano, the proof-of-stake blockchain network oft touted as Ethereum’s most serious competitor, plans to launch an algorithmic stablecoin in January 2023.
Project ‘Djed’, which is being developed in partnership with COTI, a DAG-based Layer 1 protocol, will use an algorithm that is backed by excess collateral through a cryptocurrency reserve.
Djed is set to launch on Cardano’s mainnet as early as January next year, so long as it passes an audit and a planned series of stress tests.
According to developers, Djed will be pegged to the US Dollar, backed by Cardano ($ADA), and use $SHEN as its reserve coin.
The stablecoin will be onboarded onto decentralised exchanges (DEXs) that will reward users for providing liquidity to Djed. Developers have said they plan to provide $ADA liquidity slowly and gradually to maintain the health of the stablecoin.
COTI CEO Shahaf Bar-Geffen, said at the Cardano Summit: “Recent market events have proven again that we need a safe haven from volatility, and Djed will serve as this safe haven in the Cardano network. Not only do we need a stablecoin, but we need one that is decentralised, and has on chain proof of reserves.” Read More
Tuition Coin Announces Teach-to-Earn on Cardano
Teachers from all over the world can earn Tuition Coins by registering on the Coins For College platform.
Tuition Coin, a novel Crystal Chain product, is the newest teach-to-earn project on the Cardano blockchain. Designed to incentivize further participation in educational technology, Tuition Coin powers a new system that will benefit both teachers and students.
An Incentive for Educational Content Creators:
Teachers, while forming an essential component of society, are often underpaid and overworked. By creating a cryptocurrency reward for contributions to the wider educational space, Tuition Coin ensures that teachers can thrive within the growing EdTech space.
Teachers from all over the world can earn Tuition Coins by registering on the Coins For College platform. After the sign-up and KYC process are approved, Educational content creators can start earning cryptocurrency in exchange for sharing knowledge. Those with existing content and lesson plans on the internet can also participate and contribute to the internet’s open information sphere.
Educational resources created by teachers will be available to students for free on the Coins For College platform. With a vision of ensuring that every child has access to high-quality educational material, Coins For College fills educational gaps irrespective of whether their school can provide it. Read More
Web3 DApp improves staking and transfers on Polkadot and DotSama
As the world moves to a multichain reality, user-friendly interfaces are becoming standard across all networks, not just Ethereum.
The learning curve for blockchain and its related topics is steep. To this day, even those familiar with blockchain terminology need help to perform basic functions like storing, trading and transacting with crypto assets, in addition to using nonfungible tokens (NFTs) for any of their intended use cases beyond being a digital collectable. For this reason, the unfortunate reality is that despite networks like Ethereum being diverse in utility across payments, storing data and other decentralized finance (DeFi) use cases, mass adoption continues to meet challenges since few know how to interact with blockchain technology.
A lack of adoption doesn’t mean blockchain and crypto aren’t the future. Instead, humans must recognize that a consumer-centric experience is needed to demonstrate the utility of a new technology like blockchain. Consider the parallel between blockchain and the internet. When the internet was first introduced, few understood how its existence could benefit them. The internet wasn’t widely used until website-building platforms became popularized as an easy-to-use solution to help businesses and personal users create an online presence of their own.
Recognizing that a major barrier to blockchain adoption is usability, MyEtherWallet (MEW) made it its aim to create a free, client-side interface to help users interact with the Ethereum blockchain. The resulting, easy-to-use, open-source platform now includes an expanding product suite that gives users access to the diverse functionality Ethereum has to offer. Taken together, the platform includes a web platform, mobile app, Chrome extension (Enkrypt), blockchain explorer and educational resources for new and experienced users alike. Read More
Phase Two of the Markethive internal wallet is complete, a considerable milestone for the company and the Markethive community. The impending release of the wallet is a pivot point for Markethive to secure its future as a completely decentralized social media broadcasting and marketing platform the world so desperately needs for these significant times:
The Markethive wallet is not just an ordinary wallet: It’s a transactional interface that services and keeps track of all your accounting and transactions, including your loans to Markethive and interest paid by Markethive to you via the ILP.
With Phase Two now in operation, you can access and set up your personal requirements and view your status in The Vault, Hive Rank, Staking, KYC Application, ILP Report, payments, and Markethive Credit threshold and balance. Plus, you can now transfer Markethive Credits to other members within Markethive.
Note that full access to all of the Markethive systems requires complete KYC documentation and an Entrepreneur One membership. The Markethive platform, with its general newsfeed, is free to use; however, the marketing systems and aspects thereof within Markethive will be limited, including Hivecoin transactional activity and micropayments of MHV.
Once the Markethive wallet is fully operational and launched, the Premium Upgrade will be introduced, which offers additional features and benefits to achieve a significant presence online for your marketing efforts and business growth, especially with the upcoming unique dashboard interface. It will be beyond anything else out there today. Read More
Ethereum Developers Begin Testing Staking Withdrawals On Devnet
Ethereum developers have finally begun testing the withdrawal of staked ETH with the launch of a new developer network.
The development is significant, marking the first steps towards enabling Beacon Chain withdrawals for ETH stakers. The devnet will prepare client teams to enable validator staking withdrawals as early as next year.
Testing Of Staked ETH Withdrawals To Begin:
Developers on Ethereum announced the release of a new developer testnet to test validator staking withdrawals. Staked ETH withdrawals are a feature that still needs to be implemented on the network. According to Ethereum developer Marius Van Der Wijden, the new devnet will help set the stage for validator staking withdrawals, which could be implemented as early as next year with the launch of a planned upgrade Shanghai.
Van Der Wijden stated,
“It’s the first devnet that enabled withdrawals on all of these implementations and is a big step forward. It also helps other clients to test their implementations by joining the network.”
According to Wijden, several Ethereum clients that build validator software are already testing staking withdrawals in preparation for the Shanghai upgrade, looking for any potential bugs. He also clarified that the devnet will only be focusing on staked ETH withdrawals, with Shanghai features yet to be tested. Read More
Polygon’s ‘Secret Sauce’: Why Starbucks, Meta, and Reddit Chose the Ethereum Scaler
Ryan Wyatt, CEO of Polygon Studios, discusses the recent wave of major Web2 brands building on the platform.
Brands like Starbucks, Reddit, Meta, Nike, Disney, and Coca-Cola have built on the Ethereum scaling network or announced plans to.
Despite the FTX collapse, Polygon Studios CEO Ryan Wyatt told Decrypt to expect Web3 brand momentum to continue to build.
Amid a brutal crypto downturn that has only gotten worse with FTX’s collapse, one blockchain platform has repeatedly shown that it can still onboard massive brands with a collective reach of billions into the Web3 world: Polygon, the Ethereum scaling network.
Recent highlights include Meta tapping Polygon to let Instagram users mint NFTs, Starbucks building an NFT-driven loyalty rewards program, Reddit minting unique NFT avatars, Nike revealing plans to mint digital apparel NFTs, and an NFT collectables partnership with Disney after Polygon took part in the entertainment giant’s accelerator program.
The resulting buzz has not only pushed up the price of Polygon’s MATIC token and built up the biz-dev reputation of Polygon Studios and CEO Ryan Wyatt, but the early results of these projects are also telling. Reddit said recently that its users created more than 3 million Polygon wallets to claim a free NFT avatar, generating momentum around them and the broader crypto space. Read More
Dubai Multi Commodities Centre to Issue Gold-Backed Tokens Using the Xinfin Blockchain Protocol
The Dubai Multi Commodities Centre (DMCC) has announced a new partnership with the firm Comtech Gold in order to digitize gold trading. The DMCC said the tokenized precious metals are backed by DMCC Tradeflow-registered gold bars, and each tokenized gold bar “will be backed by a Tradeflow warrant.”
DMCC to Digitize Tradeflow-Registered Gold Bars via the Xinfin Blockchain:
Dubai Multi Commodities Centre (DMCC) is a UAE Free Zone established in 2002, and it’s considered the region’s authority when it comes to commodities trade and enterprise. DMCC is one of many Free Zones in the United Arab Emirates (UAE) like the International Free Zone Authority (IFZA) and Jebel Ali Free Zone Authority (JAFZA). On Nov. 21, 2022, the DMCC announced a partnership with Comtech Gold as the UAE Free Zone plans to tokenize gold settlement.
The announcement says that a crypto coin called the commtech gold token (CGO) will be minted using the Xinfin Protocol (XDC) blockchain network. According to the website, Xinfin is called an “enterprise-ready hybrid blockchain” that combines “the power of public [and] private blockchains with interoperable smart contracts.”
Each CGO token will represent Tradeflow-registered gold bars and they come with an attached Tradeflow warrant. Tradeflow is an online UAE commodities platform that was launched in 2012. The CGO Tradeflow listing and warrant adds “additional security, transparency, and real-asset allocation, the DMCC announcement details. Read More
Kraken's Jesse Powell Takes Aim at Newly Launched Proof-of-Reserve Lists, POR Audit 'Requires Cryptographic Proof'
On Tuesday, amid the many conversations concerning crypto exchange proof-of-reserves, Kraken executive Jesse Powell shared a screenshot of coinmarketcap.com’s newly launched proof-of-reserves (POR) dashboard. Powell said he planned to be “more assertive with calling out problems,” and he stressed that a POR audit “requires cryptographic proof of client balances and wallet control.”
Jesse Powell Stresses a ‘Proof of Reserves Audit Requires Cryptographic Proof of Client Balances and Wallet Control’
Kraken’s Jesse Powell has had a lot to say about the recent FTX collapse, as the exchange executive recently said the trading platform’s fallout was “a massive setback.” Powell has also been talking about the subject of proof-of-reserves (POR) in recent times as Kraken has been a member of Nic Carter’s proof-of-reserves list or “Wall of Fame” for quite some time. Kraken is noted to have “Full POR” and its described as “auditor-assisted, user validation with Merkle approach, point in time.”
Just recently, the crypto coin price aggregation website coinmarketcap.com (CMC) announced the launch of a proof-of-reserves dashboard, and Binance CEO Changpeng Zhao (CZ) tweeted about the CMC POR dashboard. “@Coinmarketcap released a new exchange reserve dashboard feature,” CZ said on Nov. 22. The same day, Kraken executive Jesse Powell tweeted about the new CMC feature.
“I said I was going to be more assertive with calling out problems. This is one of them,” Powell said. “‘Reserves’ = assets minus liabilities. ‘Reserves’ != list of wallets,” the Kraken executive explained. Powell added:
The Proof of Reserves AUDIT requires cryptographic proof of client balances and wallet control. #Proofofreserves audit must have: 1. sum of client liabilities (auditor must exclude negative balances). 2. user-verifiable cryptographic proof that each account was included in the sum. 3. signatures proving that the custodian has control of the wallets. 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.
