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On-chain privacy is key to the wider mass adoption of crypto
Blockchain transactions need privacy to catalyze mass adoption. On-chain privacy is coming, and that’s good for businesses and investors.
Innovations in the crypto space appear daily. Whether through decentralized applications or new ways to implement and use nonfungible tokens (NFTs) within decentralized finance, blockchain technology is innovating at the speed of light. The only thing missing? Widespread adoption. One thing holding this back is the very public nature of the blockchain. DeFi, as it operates now, lacks meaningful privacy. In order to catalyze broad adoption for businesses, governments, and individuals, those executing blockchain transactions should expect regular, consistent privacy.
First, we need to define what privacy means. It does not mean pseudonymity, which cryptocurrency purports to have now. Meaningful privacy means that a personal financial account will not be traced and an individual’s wealth will not be exposed. It means a business can protect trade secrets. Privacy means a government’s finances are the business of its people — not the business of dangerous neighbors. Read More
NFT scams: How to avoid becoming a victim
When you’re an active NFT trader, you can’t avoid all the scams in the world of nonfungible tokens. The most common NFT scams are phishing, counterfeit NFTs, and pump-and-dumps.
The year 2021 was a breakthrough for nonfungible tokens (NFTs). But when something gets popular like decentralized finance (DeFi) and the newest version of the Web called Web3, there are also risks involved.
Follow the money is advice you don’t have to give hackers twice. Last year, hackers took home $14 billion from crypto-related hacks, and still, cryptocurrency crime numbers have risen 79% — and the risk is not over yet. But how do NFT traders protect themselves from getting scammed? First of all, educate yourself. By understanding the most common NFT scams, you can get your tokens to safety. Read More
How Web3 is Revolutionizing the Film Industry
Decrypt will be at Cannes Film Festival to discuss how Web3, crypto, and NFTs are changing the future of filmmaking.
Next week, the stars of the film world will descend on the French Riviera for the Cannes Film Festival—and Decrypt will be there with them.
Alongside the Festival, Decrypt along with partners FF3 and Decentralized Pictures will host a day of discussions on The Future of Film, exploring how Web3 technologies such as blockchain and NFTs will change the face of the industry.
Web3 is poised to shake up every stage of film production, from financing through to distribution—and there are filmmaking pioneers already making use of Web3 to fix long-standing problems with the industry.
Cryptocurrency and blockchain are intertwined with the world of finance, so it's no surprise the first area where crypto has made its presence felt is in raising funds to produce films. Read More
Major validator calls for ‘completely new chain’ to replace Terra
The operator of a major validator node on Terra is displeased with how events unfolded leading to the cessation of the chain and hopes a whole new blockchain will be created to replace it.
As the dust settles from the Terra ecosystem crash and the community decides what the next steps should be, the CEO of a validator runner in South Korea thinks the old Terra chain should be shut down permanently.
Jiyun Kim, CEO of blockchain solutions company DSRV, wrote an opinion post on his own behalf, detailing how the Terra team tip-toed around the idea of halting block production while Terra (LUNA) prices crashed and its TerraUSD (UST) stablecoin was depegged. He now urges validators in the Terra ecosystem to reject a hard fork in favor of a brand new community-driven blockchain.
DSRV runs a validator node on Terra with 9.36% of the on-chain voting power. DSRV has suffered as much as any investor because its node had collected 14 million LUNA, worth about $1 billion by May 8, which is now worth about $3 million.
Kim wrote that the decision to halt the chain on May 12 was not taken lightly by the Terra Validator League, which was renamed the “Terra Rebirth League.” However, he said the Terra team failed to give the proper notification using the word “Confirm” to actually confirm with all validators that they should halt the chain, which left him feeling “betrayed.” He wrote:
“And the announcement that they made [made it sound like] the chain restart was originally the validator’s opinion. YES, they didn’t use the term ‘Confirm.’” Read More
Markethive Leading The Way In Web 3 Social & Market Media
Web 3.0 is the next generation of the internet which people envision will be more decentralized and permissionless. One that's built on decentralized protocols, where users help with content creation and the governance of the web itself. They also have the ability to own a part of the network, so you can think of it as a Read-Write-Own Internet.
There are already several technologies that could serve as the backbone for a Web 3 world. Most point to blockchains like Elrond, Cardano, or Ethereum, for example, but other distributed technologies like IPFS can also be used to decentralize networks.
Thousands of dApps (decentralized applications) are already being built in the Web 3 environment. These often include native tokens to add value to the application to those who hold the tokens. These native crypto assets allow those who participate in the network to share in the value generated from it.
Web 3 promises a decentralized alternative where we are all users, owners, and developers. This quote from Fabric Ventures sums it up beautifully,
“Web 3.0 enables a future where distributed users and machines are able to interact with data, value, and other counterparties via a substrate of peer-to-peer networks without the need for third parties—the result: a composable human-centric & privacy-preserving computing fabric for the next wave of the web.” Read More
Cloudflare To Run PoS Ethereum Validator Nodes
Just a little under four years ago, Cloudflare announced its first tryst with Web3 with its gateway to the InterPlanetary File System (IPFS). This was followed up by the announcement of its experimental Ethereum Gateway. Now, Cloudflare has announced the commencement of its next set of experiments, helping new technologies achieve stability and maturity.
A New Series Of Experiments:
Now that the initial series of Web3 experiments have drawn to a close, Cloudflare has launched a new series of experiments that would be focusing on solving the environmental and scaling challenges that plague modern blockchain technology. Over the past couple of years, there has been significant growth in the use of underlying technologies powering Web3. While this has been a catalyst for start-ups, there have been some negative consequences, especially for the environment. Read More
NEAR developers to get seamless Web3 app deployment with Pocket Network
According to Pocket Network, the latest integration with NEAR allows native developers to deploy their applications on other supported blockchains, including Ethereum, Solana, Polygon, and more.
Pocket Network, a relay infrastructure middleware protocol, announced a service integration to improve the network bandwidth of NEAR blockchain while enabling faster deployment times for Web3 developers.
According to Pocket Network, the latest integration with NEAR allows native developers to deploy their applications on other supported blockchains, including Ethereum, Solana, Fuse, Avalanche, Harmony, and Polygon. In addition, by having integrations with multiple blockchains, NEAR developers can overcome concerns regarding single points of failure due to bottlenecks or other service disruptions.
Pocket Network aims to accomplish 100% up-time for projects via a globally distributed network of over 47,000 full nodes that service Web3 applications across 46 blockchains.
Pocket Network aims to bring about revenue generation opportunities for full-node operators by offering payments in its in-house token Pocket Network (POKT) for servicing traffic across the network. “It’s a win-win-win scenario for NEAR apps, NEAR nodes, and the Pocket Network protocol,” noted Michael O’Rourke, co-founder and CEO of Pocket Network. Read More
High Times in Web3? My Trip to An Ethereum Metaverse Dispensary
The Crypto Cannabis Club is the latest dispensary to open in the metaverse—and you can even order weed for real-world delivery.
Virtual cannabis dispensaries are opening up in Ethereum-based metaverse game worlds like Voxels and Decentraland.
Crypto Cannabis Club’s dispensary in Voxels is a recent example that even lets California residents order actual weed.
As more states embrace legal marijuana for medical and recreational usage, dispensaries are popping up all over the United States. They’re even showing up in the metaverse.
With the concept of the metaverse—a future, more immersive version of the internet—gaining ample buzz since Facebook showcased its own plans, a handful of digital dispensaries have launched in Ethereum-based metaverse game worlds like Decentraland and Voxels (formerly CryptoVoxels).
One of them, designed by the creators of Ethereum NFT profile picture project Crypto Cannabis Club, just launched in time for the 4/20 “holiday” and is available to explore in Voxels via a web browser. Recently, I toured the space while chatting with the project’s CEO, Ryan Hunter. Read More
First-of-its-kind mobile NFT explorer provides users a clear overview of digital collectibles
Despite their significant short-term gains, NFTs are as misunderstood as online shopping in the 1990s.
With nonfungible tokens (NFTs) quickly rising to value, more and more people want to go all-in on this asset class. But, as any wise investor would encourage, the value of investing is in diversification. Leveraging this strategy, investors can balance short-term risks with a well-diversified portfolio while exposing it to the most long-term growth potential. The only downside is that tracking these assets, which are often managed on different applications, is another story.
Retail investors have to juggle multiple financial apps to stay on top of the market, making it nearly impossible to get an overarching view of their investments. Therefore, the thought of adding another one for nonfungible tokens (NFTs) has proven enough to deter first-time investors of this asset class.
Delta, a Belgium-based smartphone application, has gained traction by addressing this gap in the market with its multi-asset investment tracking app. Through this app, users gain a live view of everything in their portfolio with access to tools and charts, including popular stocks, cryptocurrencies, ETFs, mutual funds, and NFTs. For investors, this means they can now access all pressing information at a single glance rather than navigating between financial apps in isolation. 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.
