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DAOs: A blockchain-based replacement for traditional crowdfunding
Decentralized autonomous organizations are providing relief from some of the problems that plague fundraising.
The crypto space witnessed phenomenal growth in 2021. Buzzwords like nonfungible tokens (NFTs), decentralized finance (DeFi), and the Metaverse broke through to the mainstream and culminated in the crypto market peaking at over $3 trillion in November of 2021.
NFTs redefined arts and how they are acquired. DeFi revolutionized how we lend and borrow. The Metaverse birthed an alternate universe that we could all live and work in virtually. Play-to-earn (P2E) games paid gamers to do what they love.
Decentralized autonomous organizations, or DAOs, also had their moment to shine.
One of the most out-of-the-blue crypto headlines of 2021 is probably ConstitutionDAO. A hurriedly assembled group of United States constitution-loving crypto believers. The group raised more than $47 million in Ether (ETH) to purchase an original copy of the United States constitution at auction. The group ultimately fell short in its bid but the audacity of that endeavor brought DAOs power to crowdfund to mainstream attention. Read More
Looking For Blockchain Transparency And Advanced Scalability? These Coins Could Be What You Need: Logarithmic Finance (LOG), Cardano (ADA), And Polygon (MATIC)
Newcomers in the cryptocurrency market are usually on the lookout for coins they can invest in. The majority of them get confused because of the enormous number of cryptos available in the market. According to CoinMarketCap, there are over 17,000 coins in the market. Logarithmic Finance (LOG), Cardano (ADA), and Polygon (MATIC) are some coins newbies would have heard of. In this article, we are going to take a look at their features. Read More
Solana developers share 3 key mitigation steps to make the network robust
Developers have suggested changing Solana’s current data transfer protocol UDP to QUIC, stake-weighted transaction processing and a fee-based transaction priority.
The Solana network faced its seventh outage on Saturday, resulting in a downtime of over seven hours. The developer team has released an outage report, along with three key mitigation steps to make the network more stable.
The network outage on Solana was caused by a significant surge in the number of transactions due to nonfungible token (NFT) minting bots. The bots used Candy Machine, a popular application used by Solana NFT projects to launch collections.
The transaction volume reached six million per second, overflowing individual nodes with 100 Gbps data. As a result, validators ran out of data memory, leading to a loss of consensus among them.
The developers ruled out distributed denial of service (DDoS) attacks and blamed NFT minting bots for the congestion. The network came online at 3:30 am UTC on Sunday.
The official report highlighted three key mitigation steps that are in work to make the Solana network more resilient against such congestion issues. The first major step is to move from its current data transfer protocol called user datagram protocol (UDP) to Google-developed quick UDP internet connection (QUIC). QUIC offers fast asynchronous communication like UDP, but with sessions and flow control like transmission control protocol. Read More
Hawaii Senate committees favor task force to regulate crypto, blockchain
The task force will submit findings and potential legislation back to the State Capitol — which involves providing a plan to expand blockchain adoption in both the private and public sectors.
Two committees of the Hawaii State Legislature — Commerce and Consumer Protection (CPN) and Ways and Means (WAM) — unanimously approved the launch of a specialized task force to explore the use and regulation of the crypto ecosystem.
In a letter addressed to the President of the Hawaii State Senate, Ron Kouchi, legislative members Donovan Dela Cruz and Roz Baker wrote in support of creating a “Blockchain and Cryptocurrency Task Force” that was first proposed in bill SB2695.
SB2695, titled “A BILL FOR AN ACT RELATING TO CRYPTOCURRENCY,” sought to establish a task force within the Department of Budget and Finance to review and compile country-wide data on crypto and blockchain. The task force would submit findings and potential legislation back to the State Capitol — which involves providing a plan to expand blockchain adoption in both the private and public sectors. 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
Hawaii Becomes Latest State to Approve Task Force to Examine Bitcoin, Web3 Technology
A growing list of U.S. states is looking to use blockchain-based tech in both the public and private sectors.
The Hawaii State Senate today approved bill SB2695, co-signed by Sens. Donovan Dela Cruz and Rosalyn “Roz” Baker, that establishes a blockchain and cryptocurrency task force.
Hawaii’s bill, “A Bill for an Act Related to Cryptocurrency,” aims to see how the state can regulate, provide oversight, and potentially use blockchain technology and cryptocurrency. The task force intends to review data from other states, including but not limited to the development of “a plan to expand blockchain adoption in both the private and public sectors.”
The task force will include both government officials and members of the Web3 space, plus professors from the University of Hawaii that specialize in digital currency who will be appointed by the Senate and governor. The group intends to report its findings before the 2024 legislative session begins, at which point the task force is dissolved. Read More
Ethereum Name Service Domains Surpass 1 Million Registered Names
Ethereum Name Service, or ENS, surpassed a million created names this week, according to statistics from the crypto metrics dashboard Dune Analytics. Data shows that there’s been a significant spike in ENS names registered during the last 30 days, and 24-hour statistics indicate ENS has been a top burner in terms of protocols burning the most ethereum.
Over a Million ENS Domain Names Registered — ENS Burns $3.6 Million in Ether
The number of registered ENS names created has surpassed 1 million total. Metrics indicate that the number of Ethereum-based domain names created in April saw a significant spike. 162,978 names were created in April, while only 85,272 were registered in March. Moreover, during the last few days in May, 71,563 ENS names were registered, which means there’s been significant ENS usage during the past month. Read More
5 Blockchain Solutions For Interoperability
Blockchain's ability to improve business processes, make transactions more transparent and secure in the value chain, and cut operational costs is clear to many people. Despite this, a lot of people haven't used it yet. Blockchain has been held by what.
In fact, there have been a lot of problems in the last few years that have made it hard for everyone to use them. Interoperability is by far the biggest problem, but that isn't the only one. As a matter of fact, not having it.
Look at recent developments in the interoperability field, as well as the different offerings and real-world interoperability use cases. This should give us a sense of what we can expect.
The term "blockchain interoperability" has been talked about more and more for a long time now. It also means that different blockchain systems could be able to talk to each other. In the end, the most important thing is that you can share, see, and get information across different blockchain networks without having to use an intermediary, like a central exchange.
So, blockchain projects that want to make their platform more interoperable want to build an ecosystem that will make it easy for different blockchains to communicate with each other. There are a lot of things that make the idea of interoperable enterprise blockchains possible, like being able to connect to existing systems, start transactions on other networks, conduct transactions with other chains, and be able to move between deployments on the same chain by integrating apps. Read More
Quantum-based random number generator for Web3 games and wallets launched
The QRNG uses a fluctuating quantum system to guarantee unpredictable randomness, which can be used in Web3 gaming and gambling.
Researchers at Australia National University have teamed up with blockchain oracle provider AP13 to launch the first Quantum Random Number Generator (QRNG).
The joint effort will allow Web3 entities to access a completely unpredictable random number generation system that is highly secure and free to use.
Random number generators are not new, but the QRNG system is the first of its kind to generate a random number using quantum mechanics. This provides the first genuinely random number mechanism beyond the pseudo-mathematical systems currently used that may be biased or repeated.
There are several traditional applications for random numbers, such as gambling and lotteries, sports and competitions, and sampling and statistics. As more organizations look to embrace the world of Web3, a tamper-proof and true random number generator not reliant on third parties will be required.
API3’s QRNG measures random quantum fluctuations in phase and amplitude of an electromagnetic field in a vacuum to guarantee unpredictable randomness and generate the numbers. 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.
