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Alchemy And StarkNet Partnership Looks To Drive Growth In The Web3 Ecosystem
Alchemy has announced support for StarkNet, a move that promises significantly lower gas fees. StarkNet uses ZK-rollup, allowing it to offer a significantly higher throughput while offering gas fees up to 100 times lower than those expected on Layer-1 solutions.
However, while offering lower gas fees and higher throughput, ZK-rollups allow StarkNet to offer the same decentralization, security, and composability of Ethereum-based networks.
StarkNet is looking to leverage Alchemy’s Proprietary Platform Infrastructure technology suite and hopes to attract more developers to build on the chain. This also includes Alchemy’s Supernode, which allows for the scaling of every piece of node functionality, along with dedicated distributed systems and other critical developer products such as systems for debugging, tools to fetch real-time transaction insights, and a new NFT API.
Speaking about the partnership, Co-Founder and President of StarkNet stated,
“StarkNet and Alchemy are both pioneering the Web3 future, addressing two of the biggest challenges facing permissionless blockchains: StarkNet is tackling scalability, as Alchemy provides a complete platform for developers that reduces the complexity and costs of building on the blockchain.” Read More
How Blockchain Can Solve America’s Power Grid Problem
One project that is harnessing the power of blockchain technology to disrupt the outdated and under-functioning power grid is the emerging provider of energy services, Avatu.
Using the power of a token economy, Avatu plans to use its democratized energy system to mitigate the issue of a fragile electricity infrastructure, the inflexibility of renewable power, and high-power consumption costs to consumers. It plans to do this through its blockchain-connected device called the Magic Box, a smart battery that connects to a traditional power outlet and allows the Box to interact with other Magic Boxes in the network via wifi and its AvatuChain. The internet-connected (IoT) 1kWh lithium-ion batteries have a discharge rate of 250Wh over a four-hour period and users can also monitor their usage via an app on their mobile device or from a dashboard on their desktop in real-time.
“The current system is failing. We want to decentralize, democratize, and decarbonize the current electrical power system and create what we call The People’s Utility,” says Avatu’s founder and CEO Paul Angerame.
To do this, Avatu has devised a plan which aims to disrupt the archaic industry and correct the outdated technology, combatting many of the industry’s current pain points. Read More
Ledger announces limited edition NFT-focused hardware wallet, partnership with POAP
Hardware wallet company Ledger announced on Tuesday that it would release a limited edition of a brand new hardware wallet, the Ledger Nano S Plus, with only 10,000 devices available for pre-order at $79 each. In addition to the event, Ledger announced a global partnership with Ethereum-based Proof of Attendance Protocol, or POAP.
POAPs are referred to as digital memories of nonfungible tokens, or NFTs, as they show proof of engagement and attendance for key moments. In January, Ethereum's co-founder Vitalik Buterin highlighted the potential importance of making NFTs soulbound to enable proof of achievement.
"Securing and protecting your digital memories, like the POAP you can collect with your Ledger Nano S Plus, is a must for anyone building their lifelong collection," said Lucas Verra, CEO of POAP. The Genesis Edition of the Ledger Nano S Plus will feature a special engraving. Each package will also include a card redeemable for a Genesis POAP NFT, allowing users to carry proof of this exclusive hardware wallet in their digital wallets as well. POAP will also be minting special edition NFTs for Ledger events in the future. Ian Rogers, Ledger's chief experience officer, gave the following remarks regarding the development:
"This partnership with POAP and launch of the Ledger Nano S Plus Genesis Edition at an affordable price marks the acknowledgment that digital assets will only increase as a tool for life experiences, and we want to bring millions more into Web3 securely; as it happens." Read More
DeFi detective alleges this ‘suspicious’ smart contract code may put dozens of projects at risk
“TLDR: they can pull $$ even if the owner is the null address,” writes Zachxbt.
According to famed decentralized finance (DeFi) detective Zachxbt, 31 nonfungible token (NFT) projects may be at risk due to “suspicious code.” In a lengthy Twitter thread published Tuesday, the DeFi detective first raised the issue of NFT project Thestarlab, which was allegedly compromised for 197.175 Ether (ETH), worth $580,325 at the time of publication. Zachxbt quoted fellow blockchain investigator MouseDev, who came to the following conclusion after reviewing the code behind Thestarlab:
“The smart contract [for this project] can never truly be renounced or transferred—only an additional owner. The original deployer will always be considered the owner. This means if they still have the private key of the deployer, they can pull the money, even though the owner is the null address.”
MouseDev claimed that when the projects’ developers deployed their contract, they stored two variables as the owner. “Then they later changed one of them to the null address to appear as though they relinquished but kept another unchanged variable,” said MouseDev. Read More
Because of Solana’s POH method, it can horizontally scale the rest of the blockchain, the same way that operating systems and databases scale their software. Each Solana team member has over a decade of experience working in operating systems GPU acceleration. Compilers, networks, etc., giving them extensive and deep experience optimizing software.
Solana is based on scaling software with hardware, with the vision of building the world's largest decentralized, single chart blockchain. The only way to do that is by scaling all the core technologies with hardware.
Scaling the Blockchain in this way delivers a cheap cryptographic base for financial transfers and, more importantly, outside of finance. It is a way for Solana to build a better web experience for social media communities regarding micropayments.
Also, advertising-based revenues can be relinquished for social networks, leading communities to generate value by self-expression, creating their own content, and growing the network and the connections within the community, creating a better world for all.
Solana and its technology look favorable as the conduit to assist in making Markethive the go-to for an alternative and autonomous, censorship-free platform providing all components of social media, marketing, broadcasting, publishing, eCommerce, and business facilitation. A cottage industry economy for people from all walks of life to thrive. Read More
Avalanche aims to accelerate subnet adoption with multiverse incentive program
Blockchain network Avalanche announced the launch of Avalanche Multiverse, an incentive program that will accelerate the adoption of subnets that are app-specific blockchain ecosystems.
According to the director of Avalanche Foundation, Emin Gün Sirer, subnets are the next big thing on the blockchain. GünSirer said that subnets enable functions that are only possible with “network-level control and open experimentation.” He also mentioned that while smart contracts carried innovations within blockchain in the last five years, he believes subnets are next.
The program will allocate up to four million Avalanche (AVAX), worth roughly $290 million, to fund blockchain gaming, decentralized finance (DeFi), nonfungible tokens (NFTs), and institutional use cases.
The Avalanche Multiverse is headlined by many prominent collaborators including DeFi Kingdoms, Aave, Golden Tree Asset Management, Wintermute, Jump Crypto, Valkyrie and Securitize. Read More
Music Sharing Service LimeWire Is Back—As an NFT Marketplace
The dormant peer-to-peer IP is being rebooted as a platform for music NFTs and other collectibles from musicians.
LimeWire, formerly a peer-to-peer music sharing service, will be relaunched as a music-centric NFT marketplace.
The platform is set to launch in May, and plans to release its own token later this year.
A popular peer-to-peer music sharing service from the early 2000s is about to get a second act. Today, the new owners of the long-dormant brand LimeWire announced that it will be relaunched as an NFT marketplace, initially with a focus on music and related collectibles.
LimeWire will debut in May under the leadership of co-CEOs Paul and Julian Zehetmayr, a pair of serial tech entrepreneurs. The brothers told Decrypt that they acquired the LimeWire brand last year in an effort to reintroduce it for a new wave of digital listeners.
“We highly appreciate the strength and energy around the LimeWire brand and what it meant for a whole generation of people,” they told Decrypt via emailed responses, “and we could not be more excited to bring it back to life in the fast-moving world of digital collectibles, music, and entertainment.” Read More
Cathie Wood of ARK Invest Says Decentralized Finance a Threat to All Financial Institutions
ARK Invest founder Cathie Wood says decentralized finance (DeFi) could threaten the supremacy of financial institutions.
In a recent conversation with Miami Herbert Business School, the hedge fund founder discusses the bourgeoning sector’s potential impact on traditional finance.
“The financial revolution is DeFi and really, it’s just taking all the middlemen out of the financial ecosystem. A real threat to all of us… We know that the combination of digital wallets and DeFi is going to hollow out a lot of financial institutions. It may already be [happening] because a lot of lending and saving is taking place on DeFi because it offers lower loan rates and higher saving rates, so that’s a compelling combination.”
Wood says DeFi is “scaling enormously” and has already had its resilience tested by past market developments. Wood points to DeFi users leveraging Bitcoin (BTC) and Ethereum (ETH) during recent market stumbles as evidence that the DeFi ecosystem is still going strong. Read More
The Power of Interoperability Within Blockchain Ecosystems
Interoperability has become a hot keyword in the blockchain space over the last few years. Principally, a blockchain’s interoperability is the potential ability to communicate between blockchain ecosystems through the construction of linking chains or ‘bridges’. These bridges ensure that two different blockchain mechanisms can interact, share information, and connect.
Due to the fact that every single blockchain stores different information, building an interoperable system ensures that communication across the blockchain is as effective as possible. With more individual chains all working together in an interoperable system, the power of the ecosystem as a whole is boosted.
Systems that rely heavily on interoperability see a vast range of positive benefits, spanning everything from increased transaction speeds to a more extensive range of potential applications of the blockchain. The connection between these chains relies on cross-chain technologies, which allow different pathways to be forged and sustained between two or more different blockchains.
As an ecosystem becomes more interoperable, the blockchain technology itself becomes more effective, helping to build projects, launch multi-token transactions, boost privacy, and further develop the potential security that an ecosystem can offer. In short, interoperability is one of the most important aspects of blockchain and will help further develop the whole industry.
In this article, we’ll be taking a look at the leading blockchain ecosystems that are pushing forward blockchain interoperability on both a microcosmic and macrocosmic scale. 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.
