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Cloudflare Expected to Run Ethereum Nodes as Merge Event Approaches
Internet security company Cloudflare has announced it will run and fully stake several Ethereum validator nodes in the coming months.
Internet security company Cloudflare has announced in a new blog post that it plans to run and fully stake Ethereum validator nodes “over the next few months.”
“Over the next few months, Cloudflare will launch, and fully stake, Ethereum validator nodes on the Cloudflare global network as the community approaches its transition from Proof of Work to Proof of Stake with ‘The Merge,’” read the post.
Decrypt has asked Cloudflare how many nodes they plan to launch, but we have yet to receive a response.
Cloudflare is committed to playing a small role in the transition to Ethereum 2.0, the upgrade when Ethereum will transition from being a proof-of-work (PoW) blockchain, where transactions are validated by miners with a lot of computing power, to a proof-of-stake (PoS) blockchain, where miners who put up the most collateral validate the most transactions.
“The merge” refers to when Ethereum’s mainnet will merge with the PoS-based Beacon Chain. After that, Ethereum 2.0 (which recently rebranded to the “Consensus Layer”) will be up and running. Read More
Paxos, State Street, and Credit Suisse Trial Permissioned Blockchain for Same-Day Trade Settlement
In a recent pilot, State Street executed a "T+0" trade with Credit Suisse using Paxos' permissioned blockchain service.
Paxos launched a new blockchain-based pilot in partnership with State Street that boasts same-day settlement times (also known as "T+0") for stock trading. Credit Suisse also participated in the pilot.
Called the Paxos Settlement Service, the CEO, and co-founder of Paxos Charles Cascarilla said that the private, permissioned blockchain solution "will revolutionize core market operations as our modern infrastructure improves efficiency, reduces risk, increases innovation, and provides transparency."
Using Paxos' settlement service, the pilot involved simulating a trade between Credit Suisse and State Street.
“Our team is incredibly pleased to have collaborated with Paxos, Credit Suisse as well as State Street’s Alpha team on this exciting industry initiative to facilitate seamless same day (T+0) settlement," said head of State Street Digital Nadine Chakar.
"It also further validates that the use of blockchain technology will help automate the life cycle of a trade, reduce costs and could eliminate the need for the traditional reconciliation processes used in today's settlement environment,” added Chakar. Read More
Tally Labs strives to expand decentralized content ecosystem with $12M funding
The announcement of the firm's inaugural capital raise from prominent investors is set to propel the vision for the construction of decentralized content representing communities from across the NFT space.
Tally Labs, a Web3 media company that oversees the business operations and infrastructural software development of Jenkins the Valet — a fictional nonfungible token (NFT) project orientated around the life of a Bored Ape character — has announced a seed funding round to the value of $12 million.
The company has pledged to utilize the funds to expand the intellectual property and commercialization of Jenkins the Valet to a broader spectrum of entertainment mediums and hire for six newly-posted United States/remote job roles.
The fund compiles a list of 19 investors, both venture capital and individual investors, who were consciously chosen for their wide-ranging expertise and knowledge, but crucially their affiliation with the principal values of Web3 and decentralized content creation. Read More
The Lightning Network Lunch: A Bitcoin contactless payment story
A data analyst on the Isle of Man demonstrated how contactless payments work on Bitcoin’s Lightning Network using an NFC enabled Bolt Card.
The Lightning Network (LN) just got a bit faster, as the suitably named Bolt Card now enables Bitcoin (BTC) enthusiasts to pay for goods and services using contactless technology.
A data analyst at the company behind the card, CoinCorner, took the Bolt card on a trial run on the Isle of Man, a British Crown dependency in the Irish Sea. “MSW” — as he is known — tapped to pay at more than eight point-of-sale (PoS) devices during his lunchtime investigation.
It worked like this: For any PoS device showing a Lightning invoice, MSW simply hovered the NFC-enabled Bolt Card nearby. In total, MSW 20 paid for 20 breakfasts, lunches, drinks, and snacks using the LN prior to the Bolt Card’s release: Read More
We have a lot to be grateful for within Markethive. It’s like stepping out of the rat race into an oasis of humanity at its best. As an inbound marketing, business-based blockchain platform with an inherent entrepreneurial spirit, we have all the tools to get our message out to the whole world. We have a social media interface with a collaborative ethos rarely experienced on legacy social media.
We are starting to see new integrations in the blogging section in preparation for the customized, more intuitive interface and dashboard of Markethive and, of course, the Markethive Wallet that will facilitate the Merchant accounts for members as well as personal transactions, the Vault, etc.
The new-look Blogcasting Hub is located at the top of all blogs in the system. Blogcasting is a term introduced by Markethive and is an enhanced broadcasting system. In the traditional broadcasting sense, only the people who physically subscribe to your blog or newsletter are usually notified of your updates via email.
With this blogcasting system, your social networks are informed of your blog as and when you publish them. What this means is the potential reach is into the millions. Read More
"Web3.0 is Much, Much Better for Creators Than Web2", a16z Suggests
Renowned Venture Capital (VC) firm Andreessen Horowitz (a16z) has shared data showing creators have many benefits when they pitch their tents with Web3.0 rather than Web2.0.
The argument was made in the first issue of the firm’s state of the crypto report, which shows Web3.0 currently has 22,400 creators.
It should be understood that the Web3.0 space is filled with predominantly Non-Fungible Token (NFT) creators that are notably using blockchain to revolutionize the art, music, and general creative world. Web2.0 was innovative enough to usher in the ability for users to create content that all can enjoy. However, the big social media platforms have little or non-existent incentivization models for these creators. Web3.0 is set to change all of this.
The Andreessen Horowitz report compared creators’ earnings from Web3.0 with those hosted on YouTube, Spotify, and Meta Platform’s Facebook. Read More
Ethereum Approaches Major Upgrade With Ropsten Public Testnet
Ethereum's core development team has reached a new milestone with the release of the Ropsten public testnet, which will now undergo an upgrade to its revised proof-of-stake consensus algorithm, in anticipation its implementation on the Ethereum mainnet.
The upgrade is scheduled for June 8th, with the code for its configuration appearing in a pull request made by Ethereum DevOps engineer Parathi Jayanathi (parithosh). This pull request was first seen in the eth-clients GitHub repo earlier this week.
Alongside this upgrade, the Ethereum Foundation has also disclosed that it will be doubling reward payouts for its bug bounty program, in a bid to hasten the development of the Ethereum mainnet client and provide reliable security and technical audits for its backend. According to the Ethereum Foundation, its bug bounty program will continue to offer payouts in a tiered system, providing rewards for developers and penetration testers who can find critical vulnerabilities which may have a potentially devastating impact, or may occur with a higher likelihood.
Bug bounty participants may receive up to $250,000 in ETH or DAI according to the program's scope. Given the blockchain protocol's commitment to double this as it approaches a major upgrade on its mainnet, the maximum amount for Ethereum bug bounty has now gone up to $500,000. Read More
Aave launches open-source platform for social networking DApps on Polygon
The announcement comes a month after Aave founder Stani Kulechov gets suspended from Twitter for his joke about being the interim CEO of the social company.
Aave (AAVE) has announced a new project called the Lens Protocol, which focuses on helping developers build social networking decentralized applications (DApps) on the Polygon (MATIC) blockchain.
Apart from social media DApps, the liquidity market protocol creators aim to use nonfungible token (NFT) technology along with Lens' open-source blockchain tech to allow developers to create marketplaces, recommendation algorithms, and other applications. According to Aave, this will allow users to completely own their own data and give creators new monetization opportunities.
Lens Protocol allows users to have a single Lens profile that can be used through various DApps within the Lens platform. With this, users who are able to mint Lens NFT profiles will be able to access the 50 apps that will be released on Lens Protocol at launch. To further the creation of more apps on Lens, Aave also created a grant program worth $250,000 to fund developers who wish to create applications on the platform. Read More
Investment platform achieves world-first with asset management recorded on blockchain
Despite their position in simplifying investing, index funds in the crypto space require widespread regulation to survive the upcoming regulatory crackdown.
In traditional finance, index funds have gained traction as an affordable and easy way to invest in a diversified group of assets. Now, as the world moves to the digital space, these vehicles that have a history of improving the investor experience have also become available for cryptocurrency assets.
Conceptually a cryptocurrency index fund makes sense, especially when considering the added complexities of digital asset purchases and storage. However, in practice, a lack of regulations limits their widespread adoption. When seeking out new investment opportunities, many institutional clients expect the same assurances standard in traditional offerings, including audits and third-party oversight in valuing fund assets, all of which are standard in traditional offerings.
Addressing regulatory concerns head-on is an investment platform known as Invictus Capital. Invictus operates in collaboration with a team of financial experts with deep crypto experience to create a bridge between traditional finance (TradFi) and decentralized finance (DeFi) — and has been doing so since 2017. The team now has a successful five-year track record as a pioneer and trusted player in the digital asset industry. 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.
