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ETH devs implement first-ever ‘shadow fork’ as PoS testing continues
The shadow fork, which is intended to test the next phase of Ethereum’s configuration, has no impact on the existing mainnet.
Ethereum developers implemented the network’s first-ever “shadow fork” on Monday, marking an important milestone in the ongoing shift to a proof-of-stake (PoS) consensus.
The shadow fork provides a venue for developers to stress test their assumptions around the network’s complex shift to PoS, according to Ethereum Foundation developer Parithosh Jayanthi. “The aim of the Kiln merge testnet was to allow the community to practice running their nodes, deploying contracts, testing infrastructure, etc.,” he tweeted on Sunday.
Kiln refers to the last testnet of the so-called merge, which involves transitioning Ethereum’s Execution Layer from proof-of-work to PoS. In a March 14 blog post, the Ethereum Foundation described the merge as a "culmination of six years of research and development" intended to make the network more secure and energy-efficient. Read More
Crypto seen as the ‘future of money’ in inflation-mired countries
Citizens in countries with heavily devalued currencies “need to have crypto.” In the developed world, it’s often just “nice to have.”
Last year, cryptocurrencies reached a “tipping point,” according to Gemini’s 2022 Global State of Crypto report, “evolving from what many considered a niche investment into an established asset class.”
According to the report, 41% of crypto owners surveyed globally purchased crypto for the first time in 2021, including more than half of crypto owners in Brazil at 51%, Hong Kong at 51%, and India at 54%.
The study, based on a survey of 30,000 adults in 20 countries over six continents, also made a strong case that inflation and currency devaluation are powerful drivers of crypto adoption, especially in emerging market (EM) countries:
“Respondents in countries that have experienced 50% or more devaluation of their currency against the USD over the last 10 years were more than 5 times as likely to say they plan to purchase crypto in the coming year than those in countries that have experienced less than 50% currency devaluation.” Read More
Crypto Raiders explains how blockchain gaming attracts new users to Web3
The creators of Crypto Raiders explain how blockchain gaming is revolutionizing the entertainment industry and shepherding new entrants to Web3.
At the height of the nonfungible token (NFT) rally in 2021, Sky Mavis, the creator of Axie Infinity, rolled in like the Trojan horse and coined the term play-to-earn (P2E) for blockchain games. Axie Infinity grew in popularity after amassing a $3 billion valuation and it steadily onboarded millions into Web3. According to Axie Infinity co-founder Aleksander Larsen, roughly 50% of Axie Infinity’s daily active users (DAUs) had never had a cryptocurrency wallet until they began playing.
As a result, the Web3 ecosystem perked up at the prospect of utilizing games as a method to onboard new entrants. Despite this, most blockchain platforms, protocols, and games in their current state are inherently complicated and cumbersome to navigate. However, entities are emerging to lessen the burdens and barriers of interacting in the ecosystem and onboarding prior to making the plunge into Web3.
Crypto Raiders is doing exactly that. On March 29, the project completed a $6 million seed funding round with the aim to further expand its team and marketing strategies. By pivoting from play-to-earn to play-to-own, Crypto Raiders is focusing less on financial incentives and more on the elements of fun gameplay. Read More
Blockchain Courts in Session: Place Where Law and Justice Meets Blockchain Technology
Blockchain technology is a technological advancement that is common in the modern-day world. This technology generally refers to the use of blocks of data that are generated using cryptography. The data is permanent and normally comprises more information related to the particular transaction or item in question.
While normally associated with cryptocurrencies and financial systems, blockchain technology shows promise for its application in many different areas.
The legal sector is one of the most unique areas where blockchain technology shows great promise. The use of this technology in the legal system is an application that may not be apparent to many people. However, the use of blockchain technology to store evidence has some practical benefits that may revolutionize the legal system.
The use of this system will result in increases in efficiency and transparency. These positive changes result in the general overhaul of the legal system, something that is already in motion in several states around the world such as China, Dubai, and Taiwan. 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
Wealth report: As old money procrastinates, young money goes crypto
The development of the cryptocurrency industry could not go unnoticed by the global rich. Where do the ultra-wealthy stand on crypto?
The philosophy of decentralization that lies at the core of the cryptocurrency movement is consonant with many Millennial entrepreneurs’ worldviews. According to Wealth-X, in contrast to popular conceptions of wealth, most ultra-rich individuals across the globe (84%) are self-made, meaning that they have attained their success through education and hard work. Almost 90% of those with a general interest in crypto have created all their own wealth, with just 0.5% relying solely on inheritance.
Self-made wealthy individuals accustomed to taking risks are more open to the volatile nature of cryptocurrencies than most second- or third-generation wealthy “aristocrats.” The average age of the global wealthy population is just over 60, and the average age of wealthy individuals with a general interest in crypto is 53.7.
Speaking to Cointelegraph, Tim Frost, founder and CEO of digital wealth platform Yield App, said that, according to the company’s regular surveys of its client base, “The largest majority of users sit within the 25–45 age bracket, but Yield App has thousands of users aged 50 and above all over the world.” Read More
Terra's Cross-Chain Bridge Now Supports Solana, Avalanche, Fantom, Moonbeam, Osmosis
Terra Bridge, the cross-chain bridge protocol now supports Solana, Fantom, Moonbeam, Osmosis, and Avalanche according to Terraform Labs CEO Do Kwon. “Easiest way to move funds in crypto,” the Terraform Labs CEO explained in a tweet.
Terra Bridge Adds 5 New Chains:
On April 12, 2022, Terraform Labs co-founder Do Kwon told his 352,800 Twitter followers that Terra Bridge, otherwise known as bridge.terra.money, now supports five new blockchain networks.
Cross-chain bridge technology has come a long way over the last 12 months and in mid-September 2021, there was over $7 billion total value locked (TVL) across several bridges to Ethereum. Today, cross-chain bridges to ethereum hold $19.51 billion in value across over a dozen blockchain networks.
“Bridge.terra.money now supports Avalanche, Solana, Osmosis, Fantom, and Moonbeam Network. The easiest way to move funds in crypto,” Do Kwon said on Tuesday. The Terraform Labs co-founder also shared a screenshot of the protocol in action. Read More
UK Government Outlines A Detailed Plan To Begin Accepting Stablecoins As A Valid Form Of Payment
Stablecoins are among the most dominant digital assets in existence. They are primarily pegged at a 1:1 ratio with fiat currencies such as the United States Dollar (USD) to maintain a stable value. As a result, stablecoins generally remain indifferent to the extreme volatility of the broader crypto market, making them a promising financial tool for crypto enthusiasts, whether they are traders seeking to hedge against volatility or investors endeavoring to find new yield-generation opportunities.
The total market capitalization of stablecoins is currently hovering around $200 billion - a massive surge compared to the $38 billion recorded back in January 2021. Since most stablecoins maintain their “fixed” exchange rates by holding reserves (commercial paper, Treasuries, and other money market instruments), they have attracted scrutiny from regulators and financial institutions for potential financial stability risks.
While most countries are still pretty indecisive about how to regulate digital assets, the United Kingdom’s government has already started to implement its plan to transform the country into a global digital asset technology hub. As part of this initiative, the UK government has announced some new rules that will bring stablecoins within regulation, thus paving the way for recognizing stablecoins as a form of payment within the country’s borders. Read More
How to bridge tokens from other chains to the Polygon Network
To do anything on Polygon, you'll need MATIC, which isn't always easy to come by from other networks' DEXes.
Bridging assets could help solve issues like scalability, speed, and high fees. Bridging means users can move their tokens between blockchain networks quickly and cost-effectively.
The Polygon Bridge is used for cross-chain transactions between the Polygon (MATIC) and Ethereum (ETH) blockchains. It allows users to transfer ERC tokens and NFTs to the Polygon sidechain through smart contracts.
This guide will show you how to bridge Polygon with other blockchains. However, given that Ethereum is the platform most often used for decentralized finance (DeFi), nonfungible tokens (NFTs), and the metaverse, we’ll be looking at how to bridge tokens from the Ethereum network to Polygon, an increasingly popular platform due to its efficient interoperability. 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.
