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GammaX Raises $4M to Launch Crypto Derivatives Exchange on Ethereum Layer-2 Solution
The new derivatives trading platform aims to combine the core features of a DEX with elements of a centralized cryptocurrency exchange.
GammaX, a Singapore-based company building a new high-performance hybrid crypto derivatives exchange, announced the closure of a $4 million seed round, backed by the likes of StarkWare, the developer of zero-knowledge proof technology, and liquidity provider Dexterity Capital.
Other investors in the round include Alphanonce, Cobo, Genesis Trading, Kyber, Ledger Prime, Matrixport, Profluent, Uncorrelated, and 01Node, GammaX said in an announcement shared with Decrypt.
“Our mission is to create the world’s fastest, most complete, easiest to use, and most responsive exchange available to traders,” Defi Das, the anonymous co-founder of GammaX, said in a statement. “In order to achieve that, we are blending the best aspects of both centralized and decentralized exchanges.”
Over the past months, GammaX has been interviewing “hundreds of traders around the world […] to learn what they want in a next-generation perpetual futures exchange,” said the GammaX co-founder.
“What we are hearing is that many of the exchanges available in our industry fall short in a variety of areas when it comes to a top-notch trader experience,” added DeFi Das. Read More
Jump Crypto Promulgate Plans to Develop a New Validator Client for Solana
The Solana network has been haunted by outages and slowdowns this year, especially during periods of congestion due to high demand. Still, the Solana Foundation is now trying to revamp the network to make it more stable, with a new open-source validator client to be developed by Jump Crypto.
Creating a new validator client for Solana is long overdue, as the protocol is now out of favour with users due to the attacks and outages it has experienced recently. Jump Crypto's joint venture is being conducted in partnership with the Solana Foundation. Both entities are working to reposition Solana as one of the fastest and most resilient smart contract networks.
The new development is expected to improve the accuracy with which Solana receives blocks and makes the network more resistant to attacks. The new features are designed to provide greater security to Phantom Wallet. It gives users control over reporting spam, which helps block contract addresses and domains. Investors can likewise earn SOL tokens as "rent" by reporting spam NFTs. Given the high risks involved with cryptocurrencies, users should exercise caution when transacting with third-party websites.
The process of building the new validator client will be overseen by Jump Trading's Chief Scientific Officer, Kevin Bowers, who leads a proven team of scientists and engineers developing complex algorithms, software, and Trading systems in the hardware and network space.
The move is significant because Jump Crypto, the Chicago-based subsidiary of Jump Trading, is a major player in the cryptocurrency world with substantial investments across the industry, including some Solana-related projects. Validators play a vital role in proof-of-stake blockchains like Solana by confirming the legitimacy of transactions sent to the chain. Anyone can act as a validator, provided they hold the desired amount of Solana's native currency, SOL, and transact in a way that benefits the network. Read More
Cardano outranks Bitcoin in global top intimate brands in new report
The blockchain developer ranks 26 out of 600 global brands in a new report which analyzes consumers’ emotional connection to brands.
Blockchain developer Cardano represents the crypto space with a top spot in a new report on global brand intimacy. Cardano ranks 26 among 600 brands and holds the top spot in the crypto industry, according to a report released by brand relations agency MBLM.
According to the report, brand intimacy refers to the emotional connections brands are able to create with their user base and audience. MBLM utilized artificial intelligence (AI) and big data to understand consumer relationships with some of the world’s leading brands, including Disney, Tesla and Apple.
Across 19 industries analyzed, crypto was among the top 10 perform, with Cardano in the lead, followed by Bitcoin as a brand at #30. Whereas crypto brands such as Uniswap and Solana took #261 and #265, respectively.
In comparison to last year, the surveyors said Cardano is not only a new entry but the highest ranked in crypto and the highest performing financial services brand in the study.
In a statement to Cointelegraph, Charles Hoskinson, the co-founder of Cardano, said the company was born of a simple belief that everyone is equal and should live in a fair society. Cardano works towards this through decentralization and merit, he added.
“What’s nice about that is that it doesn’t require a founder, a particular culture or country. Now we have people in the Cardano ecosystem from more than 100 different countries working together towards this end.” Read More
CasperLabs: On delivering ‘the vision for Ethereum 3.0’ today
CasperLabs believes its blockchain has solved Vitalik Buterin’s infamous trilemma and is already delivering “the vision for Ethereum 3.0”.
The Block caught up with Casper Labs’ CTO and Co-Founder Medha Parlikar, and Senior Business Development Manager Niamh O’Connell, to hear more about the blockchain that claims to be several years ahead of Ethereum in technical advancements.
The Block: Vitalik Buterin’s “blockchain trilemma” suggests that any blockchain can only truly offer two of three key benefits: scalability, decentralisation, or security. Which two benefits are Casper’s focus, or have you overcome the trilemma?
Medha: Casper is the first blockchain to solve the blockchain trilemma.
With Casper, you don’t need to choose between scalability, security and decentralisation – you can realise all three at once. Casper was built specifically for businesses looking to build in blockchain environments, and solving the trilemma is core to Casper’s value proposition. If you want to provide a viable solution to enterprises, you can’t force them to choose between equally critical features.
Unlike a lot of the early adopters that have helped to propel the industry forward, enterprise and government organisations are often subject to far more rigorous compliance mandates and public scrutiny. This means that having a scalable/reliable platform with industry-leading security features and all of the benefits afforded by decentralisation is a requirement, not a nice-to-have. Read More
Also, Updates On New Integrations And The Markethive Wallet
As the bear market continues with its crypto-cleanse and traders bemoan the adverse price action, some industry leaders opine these conditions will eradicate bad actors and create more significant opportunities for upcoming projects and future participants. Several leading crypto analysts and engineers embrace the idea that this is the time to engage in moves leading to the loftiest gains when the bull cycle returns.
Markethive stands firm with these sentiments and continues to build its next-generation entrepreneurial platform and be ready for the market-cleansed bull run. Those on the Markethive journey may be aware that new features are being integrated into the newsfeed in preparation for the five-channel dashboard housing various feeds.
The innovative five-channel dashboard integration will consist of five newsfeeds—the general newsfeed, the blog, the video channel, curation, and surveys.
It will significantly streamline your activities and business facilitation and will include a search engine so you can build your personal algorithms. This will save time and effort by eliminating what you don’t want to see in your newsfeeds, be more intuitive, and enhance the user experience.
CEO of Markethive, Thomas Prendergast, and the team of engineers have made substantial headway with the wallet. It is all but done, and the release is imminent. It’s not a simple wallet that just transfers coins. It is a complete portfolio and accounts of all your transactions, payments, and affairs, including your ILPs. The wallet comprises fourteen major foundational processes and is your internal wallet on the Markethive database. Read More
Does OFAC Really Know What They’re Doing? A War On Crypto And Privacy
This month, we witnessed one of the most significant attacks on crypto privacy in the form of the US Treasury’s Office of Foreign Assets Control (OFAC) sanctioning Tornado Cash. This led to protocols blocking addresses, funds being seized, and one of the Tornado Cash developers being arrested. The action was unprecedented, given that it was the first time we have effectively had sanctions placed on a piece of open-source software - essentially, restrictions on lines of code.
For those unfamiliar with Tornado Cash, it has long been one of the most well-known mixing protocols on Ethereum. What it would essentially do is obfuscate or camouflage transaction history. This means it would anonymize transactions and remove all traces of where funds originated. Thousands of people used this privacy tool in the Defi space.
Unfortunately, it was also used for laundering the proceeds of cybercrime, which is the use case the Treasury focused on, stating that Tornado was a favourite tool of North Korean hackers and had been used to launder more than $7 billion.
The moment Tornado was sanctioned, its website was taken down, and the code disappeared from GitHub. Not only that, but one of the contributors had his GitHub account banned. Circle blacklisted any USDC in the affected wallets, and RPC providers such as Infuror and Alchemy started blocking requests to Tornado Cash Smart contracts.
Additionally, some decentralized applications also began to restrict access to their front ends for wallets that had interacted with the Tornado Cash Smart contract. For example, both Aave and dYdx reported blocking access from wallets that had interacted with Tornado Cash and even those that had received funds from it. Regarding dYdx, users who had insignificant amounts but were associated with Tornado Cash in the past were also blocked. Read More
NFT Project Spotlight: Hume’s Music NFT Metastars
Hume wants to redefine the relationship between fans and artists with its unique approach to music NFTs.
Hume is a Web3 record label developing a roster of virtual "Metastars."
It uses music NFTs to promote its virtual label artists and nurture its community.
The Hume team believes that if music NFTs are successful, millions of artists will eventually use virtual avatars to represent themselves.
Hume is one of the world’s first Web3-native record labels. It focuses on harnessing the power of blockchain technology to create deeper connections between music artists and their fans.
The label pioneers what it calls “Metastars,” completely virtual artists that Hume NFT holders help influence and develop. The Hume website defines Metastars as Metaverse-native, universally influential, virtual music artists who exist in both the Metaverse and the physical world. Hume’s goal is to become the leading Web3 record label dedicated to promoting virtual artists and onboarding them and their fans into its music collective. Crypto Briefing sat down with Hume co-founders David Beiner and Jay Stolar to find out what inspired them to launch Hume, their backgrounds in the music industry, and how NFTs play a pivotal role in creating a community-driven virtual artist platform. Read More
Blockdaemon Empowers Web3 Developers and Institutions To Run Their Own Collator Nodes on Astar Network
As a node infrastructure provider, Blockdaemon will provide Websocket and RPC endpoints to projects wishing to build on the network.
Astar Network, the innovation hub on Polkadot, is thrilled to announce that it has integrated Blockdaemon, the world’s largest institutional-grade blockchain infrastructure company for node management and staking, as a collator. The partnership will enable Blockdaemon’s institutional and individual users to start their own collator nodes with Astar Network.
A Critical On-ramp for Astar dApp Developers:
Though Astar supports users who maintain their own collator nodes, it’s still technically out of reach for many individuals and institutions joining its network. Blockdaemon’s suite of products and tools comprise a total ‘node stack’ of blockchain technology empowering any eligible project to access the Astar Network.
As a node infrastructure provider, Blockdaemon will provide Websocket and RPC endpoints to projects wishing to build on the network. Often, it is not feasible for many projects, devs and businesses to build and maintain their own Astar node to access these services. Blockdaemon’s years of node blockchain expertise specifically for the Polkadot ecosystem significantly lowers the barrier to entry for projects building on Astar. Read More
Partisia Blockchain Debuts Multi-Party, Zero-Knowledge Computation On Polygon, Offering Actual Privacy On A Public Chain
Partisia Blockchain’s new Unified Smart Contract technology brings multi-party, zero-knowledge computation to Polygon, enabling developers to build new blockchain-based use cases
Partisia Blockchain Foundation, an independent non-profit supporting the development of the world’s ultimate zero-knowledge blockchain, announced some exciting news for Polygon developers last week. By integrating its Mainnet v3.0 into Polygon, the Ethereum scaling protocol now supports Partisia Blockchain’s privacy-preserving computation infrastructure, creating a new type of technology on the blockchain called a Unified Smart Contract.
Smart contracts are programs stored on a blockchain that run when predetermined conditions are met, and constitute the backbone of blockchain technology. Nowadays, smart contracts are either public or private. While public smart contracts are visible to everyone, it leads to a lot of private data being revealed, posing a problem for use cases that require maintaining discreet information. Meanwhile, private smart contracts protect against outside interference or malicious activity, but they cannot be easily audited or verified by third parties.
Partisia Blockchain’s Unified Smart Contract technology combines zero-knowledge proofs with multi-party computations, enabling Polygon developers to build use cases that require data confidentiality and privacy while using a public blockchain. “The integration of Partisia Blockchain’s unified smart contracts based on zero-knowledge, multi-party computation opens up countless new and exciting possibilities for all Polygon developers,” claimed Antoni Martin, Polygon Enterprise Lead. 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.
