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Everscale developer releases upgrades for DeFi platforms as the network eyes expansion?
Blockchain is just technology until an ecosystem of apps and services demonstrate real-world utility.
On its own, a blockchain is a type of technology. But, like all great technology, when put into application, it is an enabler, helping people to drive business and economic results through real-world use cases. To drive these results, an ecosystem that allows for the creation and development of apps, services, and decentralized finance (DeFi) platforms must exist. For example, consider Ethereum (ETH), an ecosystem that creates a basis for thousands of DApps, and a place for millions of users to interact.
While Ethereum has introduced the world to some of the initial use cases of blockchain, resulting applications could only go so far before being met with architectural issues such as slow transaction times and high gas fees. Recognizing that technology applications are only as strong as their back end, many have wondered what possibilities can exist when scalability isn't a limiting factor.
Everscale's architecture demonstrates this possibility by eliminating performance bottlenecks and allowing transaction throughput to scale proportionately to network bandwidth. Effectively Everscale provides the answer to the industry trilemma, determining a balance of decentralization, security, and scalability. Read More
IOSCO says DeFi is quickly evolving and 'cloning financial markets'
IOSCO Chair Ashley Alder recognizes that “DeFi is a novel and fast-growing area of financial services.”
As decentralized finance (DeFi) space grows, regulators are giving more effort to conducting research and providing a means to better understand the emerging industry.
Today, the International Organization of Securities (IOSCO) published a report that aims to give a perspective on DeFi and highlight some areas that may be potential areas of concern to regulators. According to the report, DeFi is growing and many of its mechanisms are very similar to traditional financial markets.
Apart from mirroring traditional finance, IOSCO mentions that a lot of financial products, services, arrangements, and activities in the DeFi industry sometimes overlap with more traditional finance operations. Read More
Interlay aims to advance Bitcoin’s DeFi potential with new interoperable bridge
Interlay was the recipient of a Web3 Foundation grant in March 2020 to develop the parachain technology implemented.
Interlay, a newly appointed Polkadot (DOT) parachain network, is nearing the completion of a two-year Bitcoin (BTC) bridge development project on Polkadot, with the launch announcement on its sandbox platform Kusama.
Additionally, Interlay has integrated a Wrapped Bitcoin (wBTC) digital asset, known as kBTC, on their Canary parachain Kintsugi. The asset is already available for trading on two other Polkadot parachains — Karura, governed by Acala, and Moonriver, governed by Moonbeam.
It is expected that Interlay will seek to deploy its technology across both Cosmos and Ethereum during the coming year to enhance interoperability between chains. Read More
The United States Won the Web 2.0 Tech Race – But What About Web 3.0?
The US Securities Act and the singing telegram – what do these two things have in common? They both came to be in 1933, nearly a century ago. The US Securities Act, along with the Exchange Act of 1940, both continue to drive the way financial products are offered and traded, hampering the innovation in financial technologies.
Outside of finance, the same story rings true. The United States’ economy exploded largely because of the tech companies that now form the foundation of web 2.0 – like Facebook, Google, Amazon, and Apple – but unless the United States steps up its regulatory game in a major way, it’s very likely other countries will usurp its position and reap the economic and cultural rewards that come with playing host to the world’s most innovative technologies.
Web 3.0 is dependent upon an environment ripe for innovation – not massive infrastructure systems. Read More
Solana is the first blockchain crypto ecosystem to implement a timestamp mechanism by building a decentralized clock into its own native blockchain. Why is this important? Because Solana proves that it’s possible to be decentralized, secure, and scalable and shows that this can be done without using any layer two solutions like Ethereum 2.0’s Sharding protocol or Bitcoin’s Lightning Network.
Solana is named after a beach slightly North of San Diego, in the US, where Solana cryptocurrency founder Anatoly Yakovenko worked for nearly 13 years as a software engineer at Qualcomm and was instrumental in developing the technology used in Andriod phones. Qualcomm is a Fortune 500 company specializing in software, hardware, and wireless technologies for mobile phones.
Initially, Anatoly was not a very big fan of cryptocurrency, and he wasn’t impressed with Bitcoin and was only slightly interested in Ethereum. That was until one strange night in 2017, with what he described as a “caffeine-induced fever dream,” Anatoly figured out how to improve cryptocurrency blockchains by time-stamping transactions. The analogy Anatoly uses to explain this process will help you understand how. Read More
LG Electronics expanding into blockchain and crypto opportunities
LG Electronics, South Korea’s fourth-largest company, has added blockchain and crypto as new business areas to its corporate charter as part of its plan to expand beyond home appliances.
According to local news source JoongAng Daily, the two crypto-focused objectives were approved by shareholders during the company’s annual general meeting on March 24.
The objectives were detailed as “the development and selling of blockchain-based software” and “the sale and brokerage of cryptocurrency”. The latter leading to speculation that LG are working on a crypto exchange.
When asked if this was the case, an LG spokesperson responded, “nothing has been decided yet. We just mentioned business areas in a broad manner”.
Rumors surrounding a potential LG crypto-related marketplace have been circulating since earlier in the year when Bithumb CEO Heo Baek-young revealed the exchange was working on an NFT marketplace with “a large company”. Read More
Global Blockchain Technology Market Expected to Hit $19.9 Billion
The global blockchain technology market is anticipated to reach $19.9 billion by 2026 from the current $3.4 billion value, according to market research publisher Global Industry Analysts Inc.
Therefore, the compound annual growth rate (CAGR) is anticipated to hit 43% during the forecast period.
The report titled “Blockchain Technology - Global Market Trajectory & Analytics” offers insights into what is expected in the market in the post-pandemic era.
Per the report:
“The technology is estimated to witness the highest level of spending over the coming years owing to its intriguing characteristics like redundancy, decentralization, and transparency.”
As a result, these attributes will expand blockchain adoption across distinctive applications and industry verticals when tackling issues linked to traditional options. Read More
Polygon Launches Mobile Burning And Token Lists
After releasing a teaser tweet, Polygon has launched two new features for its platform: mobile burning capabilities for $MATIC tokens, and a brand new Polygon Token Lists service.
According to Polygon, the new features for its wallet suite were "inspired by feedback and suggestions" from its community.
The deflationary characteristics of Polygon's MATIC tokens will induce more burning for yet more tokens and will provide an ecosystem-wide balance for the protocol. This will also result in better predictions in terms of gas prices because token burns and smart contract implementations for executing it are in place to ensure that the gas prices do not fluctuate above a specific, viable level.
According to Polygon, validators and delegators will also receive better offerings because of the deflationary character of MATIC, which would mean more accrued value over time for tokens offered to them in exchange for their services.
Polygon users may now use the Polygon Token Lists to check out investment opportunities with legitimate tokens, while also providing token creators with a platform to be visible to the crypto market they are aiming to serve. Users simply need to use Polygon Bridge and click on the "Manage Token Lists" option and select their desired tokens. Read More
Decentralization, DAOs, and the current Web3 concerns
Decentralized autonomous organizations are a central function of interaction across the Web3 space, where creators are earning more than ever before.
What we call Web3 will be centered on an ecosystem of technology products that are decentralized, based on blockchain networks, interoperable, and without a traditional trusted validator (such as corporations, institutions, and government bodies). But exactly what does this mean?
Web3, a term coined by Gavin Wood, Web3 Foundation president, is the next phase of the internet and, perhaps, of organizing society as a whole. Web1 was the era of open, decentralized protocols, where most online activities involved browsing individual static pages. Web2, which we are now experiencing, is the era of centralization, in which a large part of communication and commerce occurs on captive (closed) platforms and is owned by a handful of technology corporations, subject to centralized control by regulators and government agencies. 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.
