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Nearly $6 Billion in ETH Burned as Ethereum 2.0 Edges Closer
The second-largest cryptocurrency, Ethereum, has officially destroyed more than 2 million ETH via a burn mechanism introduced last year.
Ethereum’s burn mechanism is hotter than ever, as crypto’s second-largest network has officially destroyed over 2 million ETH since the mechanism was introduced last August.
According to Watch the Burn, a dashboard monitoring the burn mechanism, the network has destroyed a total of 2,000,996 Ethereum since its inception. In dollar terms, that’s more than $5.82 billion removed from circulation forever.
Implemented in the London hard fork, EIP-1559, the technical name for the burn mechanism, was just one of several updates made to the network. Read More
Blockchain 4.0 technology introduces solutions for scalability, transaction speed, throughput
Solving for blockchain’s ability to process mass microtransactions proves to be a major barrier for metaverse adoption.
Although there is no single metaverse concept, current propositions have one thing in common. That is, they rely on blockchain's ledger technology as their foundation. With the blockchain, the metaverse can exist without a formal owner, allowing each participant to shape the realities of a digital realm. While the peer-to-peer network makes sense in theory, the current trilemma presents a hurdle that must be overcome to make the metaverse a reality.
In the blockchain trilemma, the third and often missing component to a decentralized future is scalability, which without it, results in slow transaction speeds and reduced throughput, each of which is essential to future growth and adoption of the technology.
Aiming to address this barrier to metaverse creation is #MetaHash. #MetaHash is a next-generation network that exists on blockchain 4.0. With this technology, users can access a platform for sharing digital assets and managing decentralized apps (DApps). But, perhaps more crucial to the longevity of the network is its ability to operate independent sub-chains, which are protected by the network. Sub-chains present a cost-effective solution to running what is known as a #MetaApp, by ensuring the main network is never faced with overload.
"Metahash is indeed one of the most technologically advanced solutions on the market. With a solid investment poured into the system, we will speed up the product development, popularize staking and even foster MHC's mass adoption," the founder and CEO of the project's partner, aStake.io Dmitrii Danilenko, shares in response to this network's capabilities. Read More
How xx messenger is Future-Proofing Private Communication
New app xx messenger's decentralized infrastructure and quantum resistance protects users' privacy—against the threats of today and tomorrow.
Encryption lies at the heart of modern-day communications; it prevents potential snoopers like hackers, private companies, or even governments from decoding messages, guaranteeing your online privacy.
But the current generation of popular encrypted messaging apps like WhatsApp and Signal have two glaring vulnerabilities. First, they're built atop centralized servers, which represent single points of failure and leak metadata about who you're talking to and when. And second, encryption itself faces a major threat in the near future—quantum computing.
In order to protect users' privacy—and in more severe cases, their physical safety—a new generation of decentralized, quantum-resistant messaging apps is emerging, led by xx messenger. Read More
Cardano's Latest Optimization Upgrade Increases Block Memory Limits
Input Output HK (IOHK) recently announced that Cardano, its modular, parameter-based blockchain, has gone over to upgrade its mainnet at epoch boundary 328. The upgrade introduces a key feature that will effectively increase the per-block Plutus script memory units limit for the blockchain.
IOHK is the blockchain technology firm behind Cardano, providing commercial blockchains and cryptocurrency solutions to businesses and governments. It is also the leading research and development firm supporting Cardano, with over 200 engineers working on the project. IOHK's CEO, Charles Hoskinson, is also a co-founder of Ethereum, crypto's first blockchain built for smart contracts.
According to IOHK, the upgrade continues with its scaling strategy for Cardano this year, as the blockchain grows and releases new optimizations. The Plutus smart contract capabilities as mentioned in the update were introduced in September 2021 through the Alonzo upgrade. This latest upgrade increases the per-block Plutus script memory units limits from 56 million to 62 million. 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
Blockchain Startup's Digital Identity Solution Made Available to 50,000 Zimbabwean Patients
Flexid Technologies, a blockchain startup promoting the use of digital identities, said its solution was recently used by thousands of Zimbabwean households and patients that participated in a local health survey study.
Using Technology to Drive Down the Cost of Healthcare:
A blockchain startup, Flexid Technologies, revealed it recently made its digital identity solution available to 15,000 households and 50,000 patients that took part in a Zimbabwean baseline survey. The survey was conducted between 2021 and early 2022 by a local healthcare provider, Ubuntu Clinic.
In his remarks published by Techzim following the release of the study findings, Flexid Technologies CEO and co-founder, Victor Mapunga explained why his company decided to be a part of the survey. He explained:
We believe that harnessing the power of technology in the healthcare sector is paramount in driving cost down and most importantly improving patient outcomes. Read More
Secretum x Alfprotocol: Expanding Solana’s Ecosystem With Decentralized Financial & Communication Services
Solana is a high-speed, low-cost decentralized blockchain that became an attractive base for many decentralized projects. Secretum and Alfprotocol is not an exception. By offering their messaging and decentralized financial services projects seek to expand Solana’s ecosystem. Both Secretum and Alfprotocol teams believe that this partnership will provide users with greater flexibility and functionality, and further solidify Solana as a one-stop solution for all their needs. In the following article, we will take a closer look into each of the projects and what their partnership will bring.
To begin with, Secretum is a decentralized, encrypted messaging and OTC trading dApp which:
Does not collect any sensitive personal data (emails, ID numbers, DOBs, physical addresses, etc). All messaging is exclusively based on verifying wallet addresses via the node network.
Bypasses geographic/political obstacles (jurisdictional/IP access limitations, government censorship, etc.), ensuring messages are not censored, filtered, or tampered with by third parties.
Holds message history and files (photos, documents, etc.) on anonymous, independent, and non-connected nodes, on the Secretum network.
Smart Public Channels (SPCs) – can be used for communication with investors, product users, P2P deals, and even for trading assets like NFTs or tokens;
SPCs owners can upload exclusive content only available to people who prove that they own a certain amount of crypto assets or pay subscription fees. Read More
Animoca Brands targets social media giants in latest Web3 expansion plans
“You will continue seeing us take that approach as we sort of, you know, try to shepherd companies into Web3,” said Animoca Brands chairman and co-founder Yat Siu.
Animoca Brands co-founder and chairman Yat Siu stated that his firm will continue to “shepherd companies into Web3” to speed up the evolution of the internet into an open metaverse.
Siu has long advocated for the broader concept of an open metaverse, as opposed to a closed one that is dominated by large centralized Web2 companies. Central to Siu’s argument is that decentralized Web3 platforms and technology such as nonfungible tokens (NFTs) offer users a chance to maintain ownership rights over their data and content online instead of being controlled and utilized by firms such as Meta, formerly Facebook.
Siu made his latest comments while speaking on day three of the Australian Blockchain Week event earlier today. During his discussion hosted by Caroline Bowler, CEO of local crypto exchange BTC Markets, the NFT proponent covered several topics including the true value of Yuga Lab’s BAYC NFTs, the limitations of Web2, and Animoca’s ever-growing portfolio of companies and investments. Read More
How NFTs create a ‘beautiful cycle’ between artists and fans
Panelists at an Australia Blockchain Week discussion talked about the favorable way the NFT industry has grown through close interactions between artists and fans.
The nonfungible token (NFT) art industry has developed into a “beautiful cycle” thanks to the connection artists have with their fans, according to artist Danielle Weber who spoke at the Australia Blockchain Week conference.
Weber spoke on a Wednesday panel titled “Pushing the boundaries of NFT utility and art — Homegrown spotlight,” discussing the benefits of the nonfungible token ecosystem bringing artists closer together with their fans. She highlighted the fact that such closeness provides mutual advantages for both artists and fans:
“It’s a beautiful cycle that we’re seeing in this space. We are closely connected to our fans […] So we know what they want, and they motivate us to create work that is true to ourselves and true to our craft.” 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.
