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Ethereum Losing The War For Smart Contract Dominance
Smart contracts are the key to the potential of blockchain, enabling it to become so much more than just a distributed ledger that stores financial data. Ethereum, since launching back in 2015, has rightly been considered the "King" of smart contract platforms. However, it is now under serious threat of losing that crown as new blockchain projects emerge and smart contract technology matures.
Ethereum was the first blockchain platform to introduce smart contract support, enabling self-executing agreements that rely on the distributed ledger to record the terms of a transaction. With smart contracts, when predetermined criteria are met, the transaction is facilitated automatically and instantaneously, with immutable finality.
Smart contract platforms such as Ethereum are widely seen as the second evolution of blockchain technology. They enable systems, processes, and entire industries to live on-chain, where they can be automated and become far more streamlined than before, with no more reliance on a centralized authority to process transactions. Smart contracts remove intermediaries and make systems more efficient, with transactions processed faster and at a lower cost. It's for this reason that smart contracts and blockchain have the potential to disrupt entire industries. Read More
Cardano-Ethereum Bridge Live For USDC
Iagon’s Cardano-Ethereum bridge will help interoperability as users will now be able to bridge their USDC from the Ethereum blockchain to Cardano.
The cross-chain bridge, launched by Iagon, will provide a solution to help bridge the world’s second-largest stablecoin USDC and ERC-20 IAG tokens from Ethereum to the Cardano network. Playing an important role in the bridge is the cross-blockchain protocol Milkomeda, which will help in the transfer of USDC from Ethereum to Cardano. To accomplish the transfer process, the user will first have to bridge their Ethereum-based USDC tokens to Milkomeda and then transfer it to the Cardano blockchain as a Cardano Native Asset. The swap, however, needs a minimum of 4 milkAda tokens as required by Milkomeda and Iagon Token Bridge. In the case of insufficient funds, users can transfer ADA from any Cardano wallet to an EVM wallet and get their tokens. Users can then connect their Cardano wallet with Nami or Flint wallets on the bridge page, select Milkomeda C1, and send the ADA funds to the provided address.
The bridge allows swapping ERC-20 IAG tokens for native tokens from the Cardano blockchain in both directions. As a result of the bridge, Cardano’s native token ADA has shot up 5% overnight in Asia, while Ethereum gained up to 2% overnight. Read More
Rival blockchain projects angling for talent from Terra developers
At least three blockchains have publicly announced that their teams’ arms are open wide, ready to accept any stray former Terra developers following the collapse of its ecosystem.
The collapse of the Terra ecosystem, which included most of its apps and protocols, has created a diaspora of developers from which opportunistic blockchain companies are hoping to snap up talent.
Polygon, one of the largest blockchains by total value locked (TVL), is actively seeking out Terra developers to add valuable expertise and support to their efforts.
Polygon launched a “relatively uncapped multimillion-dollar fund” designed to entice Terra developers to migrate over to the Ethereum sidechain scaling solution, according to Polygon Studios CEO Ryan Wyatt speaking to TechCrunch at the weekend.
Wyatt added that he wanted the fund to be big enough to ensure that it could accommodate any developers from the failed blockchain ecosystem. Read More
Could Quantum Computers Defeat Bitcoin? Not So Fast.
Quantum computers could one day crack Bitcoin’s encryption, but it’s more likely cryptography will outwit new generations of supercomputers.
One of the most overlooked problems of blockchain systems is their ability to resist the fast-evolving machines known as quantum computers.
These powerful computers use quantum physics to solve complex problems that are beyond the reach of traditional devices by using qubits—an evolution of the classic binary bit. Qubits are able to represent the value 1 or 0 at the same time, which promises to deliver an exponential increase of computing power.
The world’s top superpowers are pouring billions of dollars into the development of this technology—and for good reason. The first nation or company to harness quantum computing will be poised to crack the encryption protecting rivals' sensitive documents.
In the case of blockchain systems, the cryptography protecting their tamper-proof ledgers may be at risk. Researchers at the University of Sussex estimated in February that a quantum computer with 1.9 billion qubits could essentially crack the encryption safeguarding Bitcoin within a mere 10 minutes. Just 13 million qubits could do the job in about a day. Read More
HVC is poised to triumph in the crypto economy.
Markethive is a monolithic blockchain project currently operating as a social network, an entire inbound marketing platform with email, blogging, and digital media capabilities that broadcast to the vast internet. It’s a complete Market Network and the first of its kind.
Markethive is predominantly a free system where users can access a platform that can cost more than $2,500 offered by other marketing platforms. There are, of course, upgrades that open up more tools and monetization opportunities, the first being the Entrepreneur One Loyalty Program, and coming soon is the Premium Upgrade.
The many domains Markethive has and its autonomous cloud systems that ensure its sovereignty and longevity make it untouchable and immune from the tech giants’ rule and biased agenda. But can still remotely infiltrate the social media platforms and reach the multitudes either locked in or looking for an alternative meritocratic medium.
In other words, wherever you go, Markethive is there, anywhere and everywhere, delivering its message via its community of entrepreneurs to a far-reaching audience. This next-generation social market media is poised in the wings, and when the time is right, it will emerge as a shining light to lift people up and bring financial sovereignty and hope in this gloomy and uncertain world.
The video platform, conference rooms, the unique four specific news feeds currently in development, and many other projects and incentives add to the credibility and need for an ecosystem in the social media and digital marketing space. Read More
Frodo Tech Aims to Create Environmentally-Friendly Blockchain Ecosystem That Is Open to Everyone
Frodo Tech is an IT and Financial blockchain services company based in Auckland, New Zealand, and a member of the Blockchain Association of NZ (BANZ). Since 2018, it has provided best-fit and trustful solutions around AI, cybersecurity, data analysis, custom applications, mobility, migration, and managed services.
The goal of Frodo Tech is to create an online platform of services that brings tomorrow’s business today that is secure, trustable, and excellent. In 2021, the team at Frodo Tech decided to start a blockchain-based business providing a unique crypto service. The goal is simple: allow all kinds of people access to services without any race or region limitation – become an open, free platform and sustain an ecosystem of blockchain services for everyone.
In the past and to date, many environmentalists have raised concerns about Bitcoin and other cryptocurrency mining and the direct impact on the environment and the climate. One of the company’s goals, and achievable by launching the token, is to decarbonize the industry and achieve net-zero emissions in the global crypto industry. Frodo Tech’s token does not have mining, allowing transactions to be processed with the exact energy requirements as an ordinary computer network. As a result of this, the cryptocurrency has negligible environmental consequences. Read More
Gold Guaranteed Coin Mining Introduces Tokenised Gold Investment
Gold Guaranteed Coin Mining (GGCM) has launched the Gold Guaranteed Coin (GGC), which uses blockchain technology to store physical gold digitally.
According to its statement, The GGCM will run on Binance Smart Chain (BSC). All GGC tokens are initially locked within the smart contract. Investors can participate in mining projects, tokenize gold and place it on the blockchain with decentralized access.
The company highlights serval advantages of GGCM. For example, No fees or charges will apply to the trades and transfers. The company has acquired all the required licenses and permissions fitting Mongolian law for mining ventures. It will carry out NFT shareholding of its GGCM, denominate 70% of the mining revenue of GGCM in US dollars, which divides it into corresponding shares for leasing, and charge users the corresponding leasing service fee according to the corresponding leasing time to obtain leasing income.
The total supply of tokens will be 500.000.000.000, and it will be divided into blocks. Read More
Web3 payment ecosystem enables one-click payment from customers to merchants
Regardless of how decentralized cryptocurrencies are, they still require extra steps and additional fees the same way their centralized counterparts do.
Merchants are participating in a more complex market than ever before, one shaped by high credit card processing fees, long settlement times, and consumers who spend most of their waking hours online. Addressing these concerns then comes down to the ability of each business owner to accept cryptocurrencies as part of their standard practices. Unfortunately, the asset’s volatility, and the complexities that come with cryptocurrency storage, make it difficult for a merchant to accept these assets without any in-depth knowledge.
Since decentralized currencies will always entail extra steps as their centralized counterparts do, digital payment gateways have become a greatly popularized solution for their ability to replicate the traditional debit and credit card acceptance process. Now, the only concern left unsolved is the ability to accept the different tokens that have arisen in response to poor scalability on the bigger named cryptocurrencies.
PayBolt, a project building a Web3 crypto payment gateway, is operating to change the approach to commerce. Their ecosystem, which has a mobile wallet available on iOS and Android, a merchant payment portal, point-of-sale (PoS) terminals, and e-commerce plugins, aims to effectively bridge the customers who want to spend crypto and the business that can accept it. Read More
Brazilian Development Bank Launches Blockchain Network
The Brazilian Development Bank has officially launched the Brazilian Blockchain Network, a structure designed to aid other institutions in the country in increasing public transparency. The launch, which was also assisted by the Court of Accounts of the Union, serves to call more institutions to adhere to this project, which aims to have its first applications ready for 2023.
The Brazilian Blockchain Network, a public and distributed blockchain, was launched on May 30. The event, which was hosted by the Brazilian Development Bank and the Court of Accounts of the Union, serves as a starting point to call other institutions to collaborate with the development and growth of the network.
Gustavo Montezano, the president of the Brazilian Development Bank, who is in charge of the development of the network, declared that the organization will sign agreements with other government institutions to collaborate on this task, stating that “the more people acting collectively, the better.” 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.
