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Blockchain messaging is going to replace Telegram and Discord
Your crypto wallet will become your mailbox and offer functionalities that Web2 messaging platforms like Discord and Telegram can only dream about.
A new era of messaging applications will soon cross the chasm of Web3 mass adoption. Web3 messaging applications will become an integral part of the blockchain ecosystem, allowing users to communicate with each other and interact with decentralized applications (DApps) and the protocols themselves in a secure, direct, decentralized manner. This editorial will discuss the benefits and challenges of Web3 messaging applications and their impact on the future of communication.
Web3 messaging protocols, such as the Extensible Message Transport Protocol (XMTP), are implemented on a decentralized communication network, using a peer-to-peer architecture to facilitate communication between verifiable identifiers like an Ethereum public address or an Ethereum Name Service domain. Unlike traditional messaging platforms such as Telegram or Discord, which are centralized and rely on central servers to route messages, Web3 messaging protocols use decentralized networks to create a trustless environment where users can communicate without intermediaries through their wallets.
One of the advantages of Web3 messaging protocols is their decentralized nature, ensuring the security of messages. With traditional messaging platforms, messages are often stored on centralized servers, leaving them vulnerable to cyberattacks and data breaches. In contrast, Web3 messaging protocols use encryption algorithms to protect messages from unauthorized access, making them virtually impossible to intercept or decrypt. Read More
MetaMask Institutional unlocks solo ETH staking marketplace
MetaMask Institutional has introduced a new staking marketplace to give institutional users access to solo Ether staking.
MetaMask Institutional is set to be an avenue for the creation of new Ethereum validators after announcing a new staking marketplace for its institutional clients.
Institutions that make use of MetaMask’s institutional-grade wallet and custody service will be able to manage Ether staking through four vendors — ConsenSys Staking, Allnodes, Blockdaemon and Kiln. The marketplace aims to simplify access and management of solo staking, allowing institutions to become Ethereum network validators.
MetaMask Institutional (MMI) has been live since October 2021, providing a platform that offers a wider set of controls and functionality more suited to organizations and businesses. As Cointelegraph previously explored, MetaMask’s retail wallet was no longer suited for users or institutions that were managing millions of dollars in cryptocurrencies.
The service’s new staking marketplace will look to simplify the complexity of institutional staking, which features varying fees, terms and conditions, rebates and reporting standards. Read More
Crypto Community Fired Up Over SEC Action Against Coinbase
Crypto Twitter finds a common enemy in the SEC, but some see just desserts after Coinbase delisted XRP.
News of the U.S. Securities and Exchange Commission’s action against Coinbase, the number one cryptocurrency exchange in the United States, spread like wildfire through the crypto community, prompting an existential debate over what it could mean for cryptocurrency in the United States.
“It should be crystal clear by now that the Biden Administration wants all crypto—even the legit parts of it—run out of the U.S.,” tweeted Custodia Bank founder and CEO Caitlin Long. “See also yesterday’s White House economic report, which dunked on all financial innovation while espousing the “stability” of traditional banks.”
Long and others called into question the SEC’s sudden delivery of a so-called “Wells Notice” after it allowed Coinbase, a publicly traded company, to offer staking rewards for several years and only now threatening to sue Coinbase on claims of offering unregistered securities. Read More
How Core Wallet is Making Crypto Self-Custody Simple
With Core wallet, Ava Labs is bringing self-custody wallets up to par with the most fully featured centralized exchanges.
“Not your keys, not your crypto,” is one of the defining catchphrases of crypto—and it’s only become more prominent over the past year, as the risks of keeping crypto on centralized exchanges were thrown into sharp relief by the collapse of FTX.
As user deposits on the doomed exchange vanished, Google searches for “self-custody” reached their highest-ever levels.
With self-custody, says Akash Gupta, Director of Product Management at Ava Labs, “You own and manage all of your assets and you're not dependent on anyone else.”
But although self-custody offers a level of control over your own assets that centralized exchange providers may never be able to provide, it often brings with it a level of complexity that can be intimidating.
Ava Labs is looking to change this with Core wallet, a cross-platform crypto wallet that aims to make fully-functional self-custody as simple as keeping crypto on an exchange.
Core is a free, non-custodial wallet that also acts as an all-in-one Web3 command center, supporting Ava Labs’ own Avalanche blockchain alongside Bitcoin, Ethereum, and all Ethereum Virtual Machine (EVM) compatible blockchains. Read More
A democratic society values a free-flowing media ecosystem. A healthy media ecosystem is one of the characteristics of a democratic society. Mass media outlets such as newspapers and cable TV networks were prominent in the past. Today, the internet and social media platforms allow for greater communication across society.
Journalism, investigative correspondents, and even freelance writers are essential to that ecosystem. High-quality reporting revealing brutal truths and users' scope and exposure on social media to either create or access information are forces that can drive genuine societal change. And even keep the power structures in check.
Despite the positive aspects mentioned above, harmful practices and negative external forces related to the media ecosystem often eclipse them. These issues are usually easy to recognize once they’re identified. Therefore, it is important to acknowledge them and spread awareness about their potential risks.
Doing so will help you make informed decisions about how you use media and how it can impact your life and the lives of others. The following are a few issues pervasive in many digital news sites, forums, and social media platforms. Read More
Markethive Media has embraced blockchain technology and cryptocurrency, building an ecosystem that belongs to “we the people,” eliminating many of the issues plagued by media outlets today. With its meritocratic culture, dynamic social media interface, and growing community, Markethive is enhancing and bringing the platform into the future internet with new technology and interfaces, but still in keeping with the human touch.
What Is A Decentralized Autonomous Organization? How Does It Change The Game?
Also called DAO, a decentralized autonomous organization is an entity with no central leadership. The members of a DAO usually have the same goal, and they all contribute to the decision-making process. Usually, decentralized autonomous organizations work based on a set of rules enforced on a blockchain.
The first DAO was launched in 2016 when a group of developers came up with the idea of an entity that has and promotes one of the most valuable and popular blockchain-related characteristics: decentralization. This feature is what makes the whole DAO concept work the way it does and maintains its relevance in the crypto space.
The simple fact that no central authority governs the decentralized autonomous organization encourages members’ participation in the project’s ecosystem. This way, such community-driven organizations can build incentivized communities around their concepts, allowing users to interact with other crypto enthusiasts from all over the world.
Furthermore, a DAO constantly works to maintain its transparency. To do that, each vote is made publicly viewable so that every user can research how each vote goes, who votes for what, and which are the most active members. Read More
Solana Validator Network Growing In Health And Stature
One of the largest proof-of-stake networks, Solana is increasingly becoming more resilient against attacks.
The Solana network is flourishing according to the number of nodes, their distribution and diversity, and the Solana Nakamoto Coefficient. Together, this makes the Solana network one of the largest and most distributed in the crypto ecosystem.
The Solana Foundation recently published its Validator Health Report for 2023, in which it lays out how it has evolved in how it measures the health of its validators.
The authors of the report explain that it isn’t just the number of nodes in a network that proves its health, but their quality. In spite of still having some recurrent network issues, the report highlights a recent example of how the network maintained its resiliency in the face of an unforeseen removal of service.
According to the report, more validators on a network make it more resilient. The Solana network has two types of validators: Consensus Nodes and RPC nodes. Solana has 3,400 validators, of which 2,400 are consensus nodes. This is a higher figure than most other PoS blockchains. Read More
The world could be facing a dark future thanks to CBDCs
From forcing people to spend their money to make them save it, central banks around the world could soon use CBDCs to create a dystopian nightmare.
During the financial crisis of 2007–2008, many people lost trust in traditional financial institutions and turned to alternative forms of currency, such as cryptocurrencies. It was a way for people to maintain their financial freedom and privacy in a system that had let them down. However, the rise of central bank digital currencies (CBDCs) raises serious concerns about privacy and freedom.
One of the most significant concerns with CBDCs is the death of anonymity. Currently, cash transactions offer the secrecy and anonymity needed for financial freedom. People can use cash to make transactions without leaving a paper trail, which is a fundamental right in a democratic society. However, the introduction of CBDCs could change this.
CBDCs would be fully traceable, meaning that every transaction would be recorded and monitored by the central bank. This would allow central banks to surveil and control financial transactions in ways that were previously impossible. While this may sound like a positive development, it raises serious concerns about privacy and civil liberties. Read More
Ripple President ‘Very Hopeful’ of a Win in SEC Lawsuit Against XRP, Predicts When Ruling Is Likely To Be Ready
Ripple Labs president Monica Long expects a positive outcome in the lawsuit filed by the U.S. Securities and Exchange Commission (SEC) alleging its XRP token to be a security.
Long says in a new CNBC interview that she is “very hopeful” that the ruling in the lawsuit will be in Ripple’s favor.
While predicting that the SEC is unlikely to win the lawsuit as the “facts and the law” are on Ripple’s side, the president of the payments firm says that the crypto industry desires regulatory clarity and certainty from the US markets regulator.
“We think that [SEC winning the lawsuit] that’s very unlikely considering that, by our view, both the facts and the law are on our side.
In terms of the broader picture of what’s happening in the US on the regulatory front, we’re seeing action through enforcement versus setting clear rules and regulation, which is what all of us in the industry really desire.” 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.
