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First cross-chain governance proposal passes on Aave
"It's a major step forward in multi-chain governance systems," said the team at Aave.
On Monday, the first cross-chain governance proposal passed on decentralized finance, or DeFi, borrowing, and lending platform Aave (AAVE). According to DeFi Llama, the amount of total value locked on Aave is approximately $12 billion. As told by its developers, a proposal executed on Aave, which is built on the Ethereum (ETH) network, was sent to the Polygon (MATIC) FxPortal. The mechanism then read the Ethereum data and passed it for validation on the Polygon network.
Afterward, the Aave cross-chain governance bridge contract received this data, decoded it, and queued the action, pending a timelock for finalization. The development team wrote:
The Aave cross-chain governance bridge is built in a generic way to be easily adapted to operate with any chain that supports the EVM [Ethereum Virtual Machine] and cross-chain messaging.
Currently, the repository supports contracts bridging to Polygon and Arbitrum. On Aave, users can submit Aave Improvement Protocols, or AIPs, to target various features on the DeFi platform. In one instance last October, Gauntlet Network submitted an AIP to disable the borrowing functions for xSUSHI and DeFi Pulse Index tokens and an automated market maker liquidity provider token pair, citing alleged security vulnerabilities. The proposal passed with 710,327 votes in favor four days after submission. Read More
Blockchain-based decentralized messengers: A privacy pipedream?
While blockchain messengers stand to mitigate many of the privacy issues posed by their centralized counterparts, they still have their fair share of unignorable issues.
Guy Goldenberg, CEO of MultiNFT — a metaverse-based social media network — told Cointelegraph that the need for decentralized messaging services is driven by two key accelerating factors: users looking for censorship-resistant applications, and a lack of trust in centralized providers when it comes to privacy and data protection. He said:
“Users are showing a rising concern when it comes to their freedom of speech and the ownership of their data rights lately, and with the help of decentralized chat apps, the solution seems to be right around the corner — platforms that are owned by the users and not by a small group of executives, where no single party can control opinions or censor participants.”
Scott Cunningham, an independent blockchain analyst, and social media influencer told Cointelegraph that the core proposition put forth by decentralized messaging platforms is that they provide users with end-to-end encrypted solutions that ensure consumer anonymity as well as a high degree of privacy. To strengthen his case, he shared a recent unpleasant experience with Facebook’s Messenger:
“I sent a note to myself [meant to be read later by me] only to find that Facebook is monitoring messages to myself and removed it due to a community violation. Once someone experiences firsthand that everything they say is being tracked and evaluated in real-time, they will feel more compelled to move.” Read More
Crypto Asset Manager Wisdomtree Reveals 'Direct-to-Retail' Digital Wallet
The crypto asset and exchange-traded fund (ETF) manager Wisdomtree has revealed the company is launching a new digital wallet called Wisdomtree Prime, which will allow users to hold crypto assets, blockchain-enabled funds, tokenized versions of commodities like gold, and access to stocks or bonds based on Wisdomtree’s indexes.
On January 28, the crypto asset and fund manager Wisdomtree revealed the launch of a new product called Wisdomtree Prime. According to the announcement, written by the company’s head of digital assets Will Peck, the firm has launched a “new direct-to-retail fintech offering.” Currently, Wisdomtree Prime is allowing people to join the beta waitlist and the application will officially launch in a few select states in the U.S. in Q2 2022.
“Wisdomtree Prime is a digital wallet, made available as a mobile app, that allows users to invest, save and spend with digital assets,” Peck’s announcement explains. Read More
Block Sizes On Cardano To See An 11% Increase
Input-Output has given a significant update regarding Cardano and its planned network updates, taking to Twitter to announce that Cardano block sizes are set to increase by 11%. The increase in block size is part of Cardano’s efforts to optimize its network and will enable the protocol to process more transactions.
Increasing Capacity To Process More Transactions
The increase in block size means that the block size on Cardano would grow to 80 kilobytes, up considerably from the current 72 kilobytes. The increase in block size will allow Cardano’s blocks to carry more information and transactions. Cardano put out a thread on Twitter elaborating on the network upgrades.
“NETWORK UPDATE: Today, we have proposed the next parameter update as we continue to increase #Cardano network capacity in line with the plan. The proposal will increase the block size by a further 8KB taking it from 72KB to 80KB.”
Cardano had seen a significant spike on its blockchain last month, with the load spiking to 90% thanks to an increase in adoption. This also brought into focus the urgent need to scale the network. According to data sourced by Cardano Insights, almost all blocks remain full as of the 1st of February, with an average load of 85%.
The new upgrades will come into effect on the 4th of February and enable decentralized applications based on the Cardano blockchain to run seamlessly as demand continues to grow. Read More
Innovations that will change the way we work and interact online.
The Markethive Social Market Broadcasting Network becomes more prominent daily as the blockchain-driven ecosystem for entrepreneurs with a non-adversarial, bi-partisan free speech ethic and the collaborative culture we rarely see on social media platforms today. Even the newer acclaimed, free speech platforms are partisan to the left or right and deal with de-platforming and boycotts from payment providers.
It’s widely notorious that the actions of the tech giants have divided nations and are the source of countless societal harms, including rampant censorship, promoting violent extremism, spreading false information, and unfairly stamping out its competition.
Instead of improving the user experience to one that users would welcome, legacy big tech is somewhat distracted by its self-induced problems. It’s now under scrutiny by government policymakers with the overall consensus that something should be done to reign in the centralized power or structurally break up the technocracy.
Facebook is focused on updating the internet with new regulations to appease critics and leverage its Oversight Board to circumvent this. At the same time, Twitter grapples with the idea of integrating a more decentralized approach to the platform, explicitly giving users an algorithmic choice by opening up its news feed to third-party algorithms selected by its users. This could undoubtedly customize the user experience but still be under a central authority. Read More
ADALend Sign the Contract with Robatz Network for the Cardano Native Decentralized Lending Protocol Development
ADALend and Robatz Network sign the contract for the development of the decentralized lending protocol. Robatz Network and ADALend represent a significant milestone for developing the lending protocol and will allow both companies to work together to further the development of the protocol, which will ultimately increase the utility of the platform for users.
ADALend is a scalable, trustless, and decentralized lending protocol built on the Cardano blockchain. The partnership will allow developers to perform further research to analyze the aggregate protocol environment, including liquidity, swap, UI, and UX. Robatz Network will also be involved in the design and deployment of the platform, with an expected date to commence development of the protocol architecture around the 1st of April 2022. Robatz Network plans to improve the user experience on the ADALend platform, allowing users to conduct self-governed lending transactions with greater ease. Read More
Worldwide Blockchain in the Aerospace & Defence Industry to 2026 - Application in Delay Compensation and Loyalty Points Presents Opportunities
The Global Blockchain in Aerospace & Defence Market is estimated to be USD 1.75 Bn in 2021 and is expected to reach USD 6.64 Bn by 2026, growing at a CAGR of 30.55%.
Blockchain technology can help in maintaining a well-connected and transparent supply chain in the Aerospace and Defense industry. Rising demand for Blockchain in supply chain management, penetration of digital technologies such as advanced analytics, robotics, and artificial intelligence in the airline industry, and the need to improve the operational efficiencies and automate the processes are some of the factors attributing to the growth of Blockchain in Aerospace and Defence market. The government has also planned to use technology in military applications, and such initiatives on technology support the development of this market.
However, factors like scalability, governance, and cost of usage may hinder the market growth.
The Global Blockchain in the Aerospace & Defence market is categorized into segments like End Market, Application, Function, Deployment, and Geography. Read More
First publicly listed, purpose-built Lightning Network company launches new accessible platform
This Lightning Network-centric group is set to develop Bitcoin’s saving grace.
LQwD FinTech Corp, a Lightning Network-centric technology company, has recently launched its Lightning Network platform after revealing its plans to provide an enterprise-grade infrastructure and toolset for Lightning Network development. The platform offers easy access to Lightning, ensuring investors and other interested parties can experience the future of Bitcoin (BTC).
This launch marks one of the ecosystem’s first scalable Lightning platforms capable of Visa-level transaction volumes. With it, users can easily launch and manage Lightning Network nodes, create efficient Lightning Network channels, transact securely, and manage liquidity in a more structured manner.
LQwD’s footprint in the lightning network is accelerating quickly, and with plans to open several more nodes, this break-neck pace should continue.
LQwD hopes its platform will accelerate the mainstream adoption of the Lightning Network and Bitcoin as a whole. Alongside LQwD’s platform launch are two partnerships with Breez and Netcoins.ca. Read More
Social Media On The Blockchain? Here's What Experts Have To Say
Cryptocurrencies have reached a market valuation of more than $1.5 trillion. The popularity of blockchain and crypto has only shot up over time, and the dramatic price increases in 2013, 2017, and 2021 assisted majorly in boosting awareness and driving adoption.
However, only speculators have flocked to cryptos in the hopes of getting in early and profiting handsomely, while ordinary consumers have yet to warm to blockchain and crypto. There are several reasons for this, but one of the most significant impediments to widespread acceptance is crypto price volatility.
The history of cryptocurrency price swings has been a common concern for regular folks looking to join the game. Furthermore, the lack of government backing has been a significant reason. Most importantly, the main impediment to mass adoption is a lack of education about blockchain and cryptocurrency. However, things are now changing as social media giants are getting into the game to drive mass adoption. 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.
