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Lightning Labs Introduces Taproot, Musig2 in Beta Version of Lightning Network Daemon
The Bitcoin Lightning Network developer has added new functionalities including Taproot and Musig2 in its first release of the year.
Lightning Labs has announced the release of the beta version of the Lightning Network Daemon (lnd). The firm has revealed incorporating several improvements in the new – v0.15-beta. The main idea is to offer developers and users access to the “latest and greatest” Bitcoin protocol upgrades that include Taproot and Musig2.
Taproot and Experimental Musig2
According to the official blog post, Lightning Labs’ product growth lead Michael Levin announced that more than 50 contributors participated in launching the firm’s first release in 2022.
“Since 0.14, we’ve made immense progress to better meet the needs of our developer community. We’re excited to deliver this technology to our builder community around the world to see what amazing use cases they can bring to users.”
Its latest release will give complete Taproot support for the internal lnd wallet, which will be able to generate P2TR addresses for receiving and sending via bech32m. Support for an experimental Musig2 API compliant with the latest BIP draft has also been added in v0.15-beta.
Taproot was activated in November 2021 after receiving 90% consensus. Prior to the upgrade, Bitcoin used the Elliptic Curve Digital Signature Algorithm (ECDSA) to generate keys and verify transactions. The Taproot soft fork aimed to make Bitcoin more private, secure, and scalable.
It brought Schnorr Signatures to reduce network burdens and made it possible to conduct multi-signature multi-input transactions (UTXI) a lot easier, faster, and cheaper. Read More
Nansen begins tracking Solana’s NFT ecosystem
Blockchain analytics firm Nansen now supports tracking Solana’s large NFT ecosystem.
Nansen says Solana has been one of its most requested chains and has a “thriving” NFT ecosystem.
The real-time, on-chain data provided by Nansen certainly shows the demand for Solana-based NFT projects. Nansen claims it’s tracking over 53,000 NFT collections.
As of writing, a couple of relatively new NFT collections (<48 hours) are vying for the top two most popular.
The current lead collection is for ‘Pioneer’ passes to access VERY TECH, a toolkit and data aggregator for NFT traders that supports Solana and Ethereum-based marketplaces. Solana users have spent 4,195 SOL on the passes over the past 24 hours.
In second-place is the Bonfida Wolves art collection, with 3,378 SOL spent. Okay Bears rounds out the top three with 2,800 SOL spent. Read More
NFT Project Spotlight: fxhash, the Tezos-Based Generative Art Platform
fxhash aims to make creating and collecting generative art more accessible for everyone.
fxhash is a generative art platform that lets anyone upload their code and mint the outputs as Tezos NFTs.
The project focuses on making generative art more accessible for both creators and collectors.
The success of fxhash and other generative art platforms such as Art Blocks signals the growing interest in generative art NFTs.
fxhash is a generative art marketplace and platform on the Tezos blockchain that lets anyone to upload their code and generate outputs as Tezos NFTs. Crypto Briefing caught up with fxhash team member Paul Schmidt to talk about the platform’s explosive growth and future ambitions. Read More
Polkadot Unveils New On-Chain Governance Model
The model, dubbed “Gov 2,” aims to replace the current council-led governance with a more open and decentralized structure.
Crypto’s eighth-biggest blockchain is preparing to transform its governance structure.
Polkadot founder Gavin Wood announced Wednesday that the “Layer 0” blockchain would be moving away from its council and tech committee-led governance structure to a more decentralized and inclusive model. In a streamed main stage presentation at Polkadot Decoded 2022, Wood introduced the new “Gov2” model and explained how it aims to improve Polkadot’s decision-making process.
The main goal of the new governance model is to increase the number of collective decisions the Polkadot governance system is able to make. Whereas the current system uses a public proposal queue, the new governance model will allow anyone to start a referendum at any time, as often as they wish. This means that under the new Gov2 structure, there can be multiple referendums covering a wide range of issues happening simultaneously, and no limit to the number of referenda that are open to voting at any time.
Additionally, the new model will retire the governance council and technical committee’s involvement in voting, replacing their role with a new Polkadot Fellowship. The Fellowship will ensure that the opinions of technical experts are still heard and considered in Polkadot governance without giving this cohort of stakeholders an outsized amount of control. However, Polkadot holders who wish to delegate their voting power to community leaders will still be able to do so through a new and improved Multirole Delegation system. Read More
REFER THREE TO MARKETHIVE TO RECEIVE BONUS AIRDROPS AND ACTIVATE MICROPAYMENTS
As Markethive continues to gain traction with new members joining daily, Markethive is steadfast and in preparation to take a large share of the new Market Network that is the next generation following the social media craze of Web 2.0. Markethive is a Social Market Broadcasting Network. It sounds like a mouthful, and it is!
Markethive is an all-encompassing platform that has integrated;
As Markethive’s foundation is Blockchain-driven, it has its consumer coin, currently named Markethive Coin (MHV), but soon to be renamed Hivecoin (HVC - the Ticker Symbol). It is fully integrated into the system and has created an Ecosystem for all Markethive members, free and upgraded Entrepreneurs.
So Markethive has established its niche as the only Social Market Broadcasting Network with an infinity Airdrop and a system that rewards the users for engaging on the platform and learning how to use it with ongoing, real-time micropayments, otherwise known as a Faucet.
Markethive has the combined power of Facebook, LinkedIn, Marketo, and Amazon, with the real advantage of deriving income within the Markethive system while promoting your business and enjoying the social media interface. Read More
The decoupling manifesto: Mapping the next phase of the crypto journey
The narratives that have propelled crypto to its current status have reached the limits of their influence. It’s time to rethink how to pitch crypto to a broader society.
A new financial system; a more democratized, even more inclusive, financial sector; the future of the internet — the crypto ecosystem has been described as all of these things. However, as is evidenced by digital assets’ inherent correlation with the Nasdaq 100, most people fail to conceptualize blockchain as anything other than an extension of the traditional tech economy. While blockchain’s proponents laud its virtues and potential, they have been unable to make a comprehensive case for blockchain to everyday people.
Many crypto natives anticipate “the decoupling,” in which digital assets become financially independent from traditional tech equities. But without a clear plan of action for how to differentiate decentralized crypto technology, industry independence will be unrealized. Those of us who believe in the long-term promise of blockchain technology need to completely rethink how to pitch blockchain to broader society. Read More
Fintech-Ideas Brings Blockchain Functionality To Its Range Of Platforms
Enterprise software developer Fintech-Ideas has integrated a suite of blockchain tools to its SaaS offerings. The provision will enable businesses to utilize powerful web3 features such as tokenization, NFTs, and distributed storage.
The integration of blockchain functionality into the company’s fintech and marketing platforms will deliver web3 services on demand. Customers will be able to gain exposure to crypto-based technologies, including blockchain, with minimal setup costs and lead time.
Flagship Fintech-Ideas products such as Pushnoti, LiberSave, and ITTechAV are relied on by millions of customers for payments and marketing. The incorporation of web3 features will further extend their functionality and unlock new revenue streams for forward-thinking businesses. Fintech-Ideas also services the media industry through a brace of products. Aussiedlerbote Zeitung offers readers a wide range of media content and TechZeitung supports the convenient and high-scale exchange of entrepreneurial skills and expertise. Read More
Experts explain how music NFTs will enhance the connection between creators and fans
Monstercat CEO Mike Darlington and Metalink founder Jake Udell chat with NFT Steez about the future of Web3 and music NFTs.
According to Mike Darlington, CEO of Monstercat — an electronic music platform — and Jake Udell, founder of social NFT platform Metalink, bear markets are a time to ideate and build new products. During this week’s episode of NFT Steez, a bi-weekly Twitter Space hosted by Cointelegraph analysts, both Darlington and Udell agreed that the future will be bright for crypto and especially for music nonfungible tokens (NFTs).
During the interview, Darlington and Udell explained the importance of researching projects with “sustainable teams” that continue to build despite the current market conditions and they encouraged investors to learn from the possibilities created at the height of the bull market.
According to Darlington, music NFTs haven’t necessarily made it as a “trend” yet, but he is hoping that they cement their space in the next bull cycle. Comparatively, profile pictures (PFP) NFTs are a “monster of their own,” but music NFTs can see similar success to that of photography or art NFTs. Read More
Layer-1 blockchains: How crypto winter could slow the challenge to Ethereum
A Chainalysis report analyzes the layer-1 blockchain ecosystem, questioning if alternative L1s will continue to challenge Ethereum this crypto winter.
Given Ethereum’s dominance coupled with the current crypto bear market, it remains questionable if L1s will flourish. This was recently highlighted in a Chainalsys blog post entitled “New layer 1 blockchains are expanding the DeFi ecosystem, but no ETH killers yet.” Ethan McMahon, an economist at Chainalysis, told Cointelegraph that Chainalysis published this report to raise awareness for the current L1 ecosystem:
While Ethereum allowed decentralized finance (DeFi) to flourish in 2020, a number of layer-1 blockchains (L1s) have since been developed to address the challenges associated with the network. For instance, as Ethereum’s proof-of-work (PoW) consensus mechanism and high gas fees continue to impact transaction speed and scalability within its ecosystem, L1s like Algorand, BNB Chain, Avalanche and others aim to solve these problems.
“Chain comparison is important because it seems as if most crypto services are only offered on Ethereum, but this isn’t true. There are a few different blockchains with competitive offerings that have advantages Ethereum doesn’t provide.” 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.
