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India’s Telangana State Partners with CasperLabs for Seamless Blockchain-Powered Government Processes
India’s Telangana State has joined hands with CasperLabs to revamp operations using blockchain technology to stimulate more secure, efficient, and sustainable government processes.
As a leading blockchain software company, CasperLabs will render an open network that will boost entrepreneurship opportunities for the public and private sectors in Telangana.
Furthermore, blockchain initiatives are expected to empower government officials and policymakers with more insights for better decision-making.
Jayesh Ranjan, the Principal Secretary of the Industries & Commerce (I&C) and Information Technology (IT) Departments of the Telangana government acknowledged:
“Casper blockchain not only offers unparalleled advanced technology, but also offers key insights to the industry that will be instrumental in our blockchain development efforts.” Read More
What is NFT staking and how to earn income from NFTs?
NFTs are tokenized assets that can be staked and maintained securely on NFT staking platforms.
Staking your NFTs is a way to put your unique token to work on the blockchain. Often NFTs are associated with digital images, such as the Bored Ape Yacht Club collection, but they can be all kinds of objects, from digital art to video files to items in a game. NFT staking means that you attach your nonfungible tokens to a platform or protocol. In exchange for this action, you receive staking rewards. In this way, you can earn extra while you remain the owner of the NFT.
You can compare this way of staking with decentralized finance (DeFi) yield farming, where cryptocurrencies are lent or deployed to liquidity providers to earn rewards through interest or the transaction costs incurred by others. This way of earning interest is similar to that earned through a bank but in this case, there is no middleman. NFT staking belongs to the decentralized finance world while the banking form is centralized. Read More
Ethereum Beacon Chain Suffers Longest Blockchain 'Reorg' in Years
The Ethereum Beacon Chain experienced a seven-block reorganization today. Here's what that means, and why it could have been a security risk.
The Ethereum beacon chain, which will be crucial to the Ethereum Merge scheduled for later this year, today experienced a potentially high-level security risk known as a blockchain “reorganization.”
A reorganization, or reorg, can happen either through a network failure, such as a bug, or a malicious attack, temporarily resulting in a duplicate version of a blockchain. The longer a reorg lasts, the more serious the consequences.
Today’s reorg on the Ethereum Beacon Chain lasted seven blocks—the longest such reorg in years, according to Martin Köppelmann, CEO and co-founder of DeFi service provider Gnosis.
The Beacon Chain, which launched on December 1, 2020, introduced native staking to the Ethereum blockchain. Staking, which involves pledging assets to a network, is how validators will become eligible to add blocks to the chain, a main tenet of the proof-of-stake consensus model. Read More
Injective partners with Wormhole to bring 10 new blockchains to the platform
“Users will soon find Wormhole integrated into the backend of the Injective Bridge whereby transferring assets from distinct EVM chains or Solana can be done with the click of a button,” Injective Labs stated.
Decentralized finance (DeFi) protocol Injective (INJ) has partnered with Wormhole to integrate “10 new blockchains” to its network.
Injective is a Cosmos (ATOM) layer-2 decentralized exchange (DEX) that offers derivatives, token swaps, and sports betting prediction markets. It is also focused on interoperability via cross-chain bridging, and currently supports digital assets from Ethereum (ETH), Polkadot (DOT), and IBC-enabled chains such as Cosmos.
Injective Labs, the protocol’s developers, noted in a Wednesday announcement that the partnership will enable users to transfer and trade assets across any chain that is integrated with Wormhole.
“The Wormhole integration will vastly enhance Injective’s capabilities with respect to interoperability. Users will soon find Wormhole integrated into the backend of the Injective Bridge whereby transferring assets from distinct EVM chains or Solana (SOL) can be done with the click of a button,” Injective Labs stated. 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. Read More
Blockchain Foundry Pairs with Palmer Group to Launch Web3 Education Platform Metacademy
Canadian blockchain software development company Blockchain Foundry has partnered with Palmer Group to launch "Metacademy", a Web3 education platform focusing on blockchain, cryptocurrencies, and Non-fungible Tokens (NFTs).
Blockchain Foundry Inc. develops and commercializes blockchain-based business solutions and provides consulting services to corporate clients.
This announcement came after the launching of the public beta version of Metacademy.com ("Metacademy"). Users can learn and understand various knowledge of the blockchain universe for free on this platform, including cryptocurrencies, NFT, smart contracts, web3, etc.
From Blockchain Foundry CEO Dan Wasyluk said:
"We are excited to partner with The Palmer Group to develop this one of a kind educational platform. Metacademy uniquely provides users with hands-on experience using new decentralized technologies in a risk-free environment, all while earning crypto incentives along the way. This Web3 educational experience is unlike any other platform available today," Read More
Tether launches stablecoin pegged to pesos on Ethereum, Tron, and Polygon
The announcement highlighted that this may spark the launch of more peso-backed stablecoins within the region.
Amid market issues surrounding stablecoins, Tether (USDT) launched a new digital asset that will be pegged to the Mexican peso on Ethereum (ETH), Tron (TRX), and Polygon (MATIC) networks.
In an announcement sent to Cointelegraph on Thursday, Tether mentioned that the token will have the MXNT ticker and will join Tether's roster of fiat-pegged stablecoins that includes dollar-pegged USDT, euro-pegged EURT, and Chinese yuan-pegged CNHT.
Citing data that reports blockchain and crypto demand among Mexican companies, the stablecoin issuer believes that there's a unique opportunity to provide a cheaper option for asset transfer within the region.
According to Tether's chief technology officer, Paolo Ardoino, the rise in crypto usage in Latin America pushed their decision to "expand." He explained that the introduction of a stablecoin pegged to the peso will give those in Mexico a way to store value. Apart from this, Ardoino believes that:
“MXNT can minimize volatility for those looking to convert their assets and investments from fiat to digital currencies.” Read More
As Terra Dies and Forks, Protocols and Projects Move to Polygon
Polygon is calling on projects displaced and disgruntled by Terra’s collapse to join its ranks.
Forget Terra 2.0—Polygon wants Terra projects to move to its blockchain instead.
Polygon Studios CEO Ryan Wyatt shared via Twitter yesterday that Polygon—a sidechain built to compliment and help scale Ethereum—is launching a “multi-million dollar fund” called the Terra Developer Fund to help Terra projects move from Do Kwon’s now-infamous and failed blockchain onto Polygon.
Two and a half weeks ago, the Terra blockchain’s stablecoin, UST, lost its peg to the dollar after large withdrawals were made from Anchor, a Terra DeFi platform that promised up to 20% returns from staking. The Luna Foundation Guard, a group founded by Kwon to help support the Terra ecosystem, deployed billions from its Bitcoin reserves in an attempt to maintain UST’s peg.
But the not-so-stable coin was unable to regain its peg, and its sister token LUNA token then fell from $64 to $0.004 in a matter of days. The Terra blockchain was even temporarily halted, but that didn’t stop the prices of UST and LUNA from going to zero. Read More
How an Indie Author Is Using Ethereum NFTs to Engage and Inspire Readers
"Lost Children of Andromeda" translates a sci-fi book series into an NFT-powered “read-to-earn” game and creative community.
Lost Children of Andromeda is a new Ethereum NFT project based on author Jason Michael Primrose’s self-published book series.
The project, backed by BeetsDAO, spans multiple NFT drops, a Discord meta-game, and upcoming “read-to-earn” token rewards.
Author, Jason Michael Primrose’s “Lost Children of Andromeda” book series tells the story of the not-that-distant future of 2052, wherein natural disasters are destroying the Earth and the doomsday clock predicts just 215 days left for humanity. It’s up to so-called Evolutionaries to awaken and quickly master their powers to save civilization.
Now, Primrose has transformed his story into an interactive Ethereum NFT experience, which has two primary purposes. On one end, the project aims to engage readers with interactive storytelling elements, dynamic NFT collectibles, and the ability to help create characters that can be pulled into future novels in the series and multimedia adaptations.
On the other end, Primrose told Decrypt that he envisions the Lost Children of Andromeda community as an ongoing creative workshop of sorts to help encourage emerging artists to pursue their passions. In the same way that the books’ characters must find their inner power, he sees an opportunity to help people embrace and elevate their own artistic interests. 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.
