x
Image Source: Pixabay
Flipside Crypto launches NFTs to pull multi-chain data
Flipside Crypto co-founder and CEO Dave Balter stated the NFTs will save users the trouble of having to “manage nodes, complex data pipelines or petabyte-scale databases.”
Blockchain analytics firm Flipside Crypto has launched an online Software Development Kit (SDK) called ShroomDK, which is based on nonfungible tokens (NFTs) and provides an automated means to pull “comprehensive” blockchain data via software. Being NFT-based enables the SDK to be on-sold or upgraded more easily, according to the company.
Co-founder Jim Myers said that the ability to query blockchain data from multiple chains in an automated (programmatic) fashion has been a “critical piece of missing infrastructure for blockchain developers and analysts.”
Software-as-a-Service, or SaaS, refers to software delivered over the web instead of locally on machines. An SDK generally refers to a kit of software-building tools used to create applications for specific devices or operating systems. The tokenized SaaS SDKs from Flipside Crypto allow users to on-sell purchased software development kit access after they have finished with it.
ShroomDK NFTs will allow devs to query data from Ethereum (ETH), BNB Chain (BNB), Avalanche (AVAX), Solana (SOL), Near (NEAR), Flow (FLOW), THORChain (RUNE), and Algorand (ALGO), while layer-2 solutions such as Optimism and Arbitrum have been named as well. Read More
Bitcoin Lightning Network developer updates node software with Taproot support
The latest software release, named lnd 0.15 beta (v0.15-beta), aims to empower developers to create solutions for more use cases by leveraging the Bitcoin Network’s capabilities.
Lightning Labs, a developer of the Bitcoin (BTC) Lightning Network (LN), released a beta version of the Lightning Network Daemon (lnd) — a complete implementation of the LN node — with added support to the latest protocol upgrades including Taproot and Musig2, among other improvements.
lnd is a software component that handles various aspects within the LN including managing a database, generating payment invoices, and revoking payments, to name a few. The latest software release, named lnd 0.15 beta (v0.15-beta), aims to empower developers to create solutions for more use cases by leveraging the Bitcoin network’s latest capabilities.
In the announcement, Lightning Labs’ product growth lead Michael Levin revealed that over 50 contributors participated in launching the company’s first release in the year 2022, adding that:
“This release gives complete Taproot support for the internal lnd wallet, making it one of the most advanced Taproot wallets today. Further, this release has support for an experimental Musig2 API compliant with the latest BIP draft.” Read More
Lido Community Signals Intent to Keep Ethereum Staking Uncapped
The Lido community is currently voting against a proposal that would limit how much Ethereum can be staked on the platform.
Last week, Lido put forward a governance proposal to limit the amount of Ethereum that users can stake after facing criticism from the crypto community.
"Who will be the first staking provider to publicly commit to limiting themselves to not operating more than 22% of validators on the chain?" tweeted Ethereum's Beacon Chain community manager Superphiz. "Who do you want to see step up to the plate and prioritize beacon chain health above profits?"
Lido is a liquid staking service, that lets users deposit assets like Ethereum, Solana, Polygon, and others to earn a yield. Whenever users stake these assets, they receive another staked version of the same token, which can be used elsewhere in the market.
Lido's staking service has become extremely popular of late, raising concerns about a large amount of Ethereum currently concentrated in one staking pool.
Despite centralization worries, voting for this latest proposal has thus far been extremely one-sided, with nearly 99.8% of the Lido community voting against limiting how much Ethereum Lido can service. Less than 0.2% of holders have voted in favor of the proposal.
The vote is scheduled to end by July 1, 2022. Read More
Blockchain Network Backed By Japanese Content Giant Launches To Build A Sustainable Metaverse Ecosystem
Recently numerous new blockchain networks have emerged, but only a few have had both strong technical expertise and rich content to fill the ecosystem from the beginning. Since it’s impossible to create an ecosystem with infrastructure alone, new blockchain networks usually seek partnerships with Dapp projects. MOOI Network, developed by blockchain company POST VOYAGER, has already succeeded in securing both technical strength and a content-rich ecosystem even before its launch. While POST VOYAGER focuses on the technical aspects, Cocone, a well-established Japanese mobile game giant, will bring its metaverse content to the network. The launch date of MOOI Network is June 30.
The developer of the MOOI Network, POST VOYAGER, is a subsidiary company of Cocone, a well-established Japanese mobile app company. Established specifically for blockchain projects, POST VOYAGER has been exercising its expertise since 2019. The company has been a Governance Council member, or a node validator, of the Klaytn network. While actively participating in the governance process, the POST VOYAGER team has been steadily building up its knowledge of blockchain. It has also been serving to provide technical support and advice to its affiliate companies. With half of the team as developers, including its founder, POST VOYAGER is a very tech-intensive company and understands the importance of ever-changing technologies.
While POST VOYAGER is quite confident about its technical competence, the team decided to take extra steps to protect the assets of users. To further ensure the integrity of its security, MOOI Network will undergo multiple audits. According to POST VOYAGER, “it’s never enough to stress the importance of the integrity of the network. We will take every necessary measure to ensure it.” Read More
Also, Updates On New Integrations And The Markethive Wallet
As the bear market continues wth 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
Cardano’s Vasil hard fork proposal submitted: Countdown commences
From July 3, the four-week window for application developers and exchanges to test the upcoming Cardano upgrade begins before it’s launched onto the mainnet.
Cardano Blockchain developer Input Output Hong Kong (IOHK) has submitted an updated proposal to hard fork the Cardano testnet, kicking off the countdown for the network’s Vasil mainnet upgrade.
The Vasil upgrade is slated to bring “significant performance and capability upgrades” to the blockchain, with IOHK describing the fork as the “biggest and best upgrade to date,” providing higher throughput, improved script performance for developers, and lower costs.
One of the most significant updates pointed out by the team is the implementation of diffusion pipelining aimed at improving the blockchains’ scalability for decentralized applications (DApps).
The update will allow faster block creation as they can be transmitted without full validation.
If everything goes smoothly, the upgrade to the testnet will take place July 3, with the mainnet upgrade scheduled for roughly around the end of July. The Cardano community requested four weeks minimum to allow time to test and upgrade applications on the testnet. IOHK says the hard fork for the mainnet will take place “once everyone is comfortable and ready.” Read More
Polkadot's founder announces steps toward full decentralization with new governance model
Gavin Wood said that he seeks to transform the Polkadot blockchain into a full technocracy.
Live from Polkadot Decoded in Buenos Aires on Wednesday, Polkadot (DOT) and Kusama founder Gavin Wood announced that the blockchain's governance model would undergo a new transformation. Dubbed Gov2, anyone would be able to start a referendum at any time for as many times as they wish in the new setup, similar to initiating new transactions on the blockchain.
Thereafter, pending referenda need 50% of the vote from stakeholders within 28 days' time for approval or face rejection by default. Participants can also intervene and launch timely cancellation proposals, which require similar voting procedures, in the event that technical glitches are discovered within the referenda, themselves. Passive voters, t can specify a different delegate for every class of referendum in the system in a process known as multirole delegation.
Wood said there will be a new body, dubbed the Polkadot Fellowship, composed of technical experts who have the power to shorten referenda voting times in the event of time-sensitive matters. Overall, several tenets would remain invariant from the previous governance model. First, 50% of the total stake in the system will be allowed to command the system's future. Greater weight will also be given to those willing to lock their tokens in the system for a longer duration in a process known as conviction voting. Finally, a committee will also remain to oversee the blockchain's technocratic developments. Read More
Axie Infinity’s Ethereum Bridge Back Online After $622M Hack
The Ronin bridge is back online more than three months after attackers completed one of the largest DeFi heists to date.
Axie Infinity, the most successful NFT-based video game in terms of total trading volume, suffered one of the largest DeFi hacks of all time in March. Now, the exploited bridge that connects the game’s sidechain to Ethereum has been restored.
Today, Axie Infinity developer Sky Mavis announced that the Ronin bridge is finally back online, almost three months to the day since the studio disclosed the hack. Users can now make deposits to—and withdrawals from—the Ronin network.
The bridge, which allows users to transfer assets between the Ronin sidechain and Ethereum’s mainnet, was hacked on March 23, with the attackers taking 173,600 ETH and 25.5 million USDC stablecoin in the process.
Collectively, the assets were worth about $552 million at the time of the attack, and $622 million by the time that Sky Mavis revealed the exploit on March 29. (Currently, following a wider cryptocurrency market decline, those assets are worth about $232 million.) Read More
Chainalysis Finds Ownerships of Web3 DAOs Are Not Actually Decentralized
Chainalysis published a research study showing that although decentralized autonomous organizations (DAOs) have emerged as the future of decentralized corporate governance, there have been several weaknesses in their functioning.
According to the study, DAOs form the cornerstone of many blockchain and Web3 projects. Internet-native and blockchain-based, DAOs are intended to offer a new, democratized management structure for businesses, projects, and communities, in which any member can vote on organizational decisions just by buying into the project.
However, the latest report by Chainalysis indicated although the process in which DAOs work is normally described as a way to decentralize power, ownerships of DAOs are highly concentrated.
Chainalysis analyzed the functioning of ten major DAO projects and found some clear details that DAOs are not as decentralized as intended to be. The voting power in DAOs has been largely concentrated, the study revealed.
On average, less than 1% of all the members have accumulated more than 90% of all the voting power. In other words, less than 1% of all members in major DAOs have 90% voting power.
This means that a high amount of power has been concentrated in the hands of a selected few founder members, an issue that DAOs were supposed to solve. This is an undemocratic scenario whereby a few individuals (about 1% of all token holders) could outvote any decision of the remaining 99% holders. 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.
