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Quantum computing to run economic models on crypto adoption
The industry may have 10 years or less to devise defenses against quantum computers capable of breaching its elliptic curve cryptography.
By many accounts, quantum computing (QC), which uses atomic “spin” instead of an electrical charge to represent its binary 1’s and 0’s, is evolving at an exponential rate. If QC is ever realized at scale, it could be a boon for human society, helping to improve crop yields, design better medicines, and engineer safer airplanes, among other benefits.
The crypto sector could profit too. Just last week, for instance, a Bank of Canada-commissioned project simulated cryptocurrency adoption among Canadian financial organizations using quantum computing.
“We wanted to test the power of quantum computing on a research case that is hard to solve using classical computing techniques,” said Maryam Haghighi, director of data science at the Bank of Canada, in a press release. Read More
Polygon launches ‘Supernet’ chains, pledges $100M to Web3 developers
The layer-2 scaling solution continues its focus shift to Web3, a broad concept that refers to the blockchain-powered internet.
Ethereum scaling solution Polygon has launched a new network for Web3 development, pledging $100 million to early users who can help fast-track adoption.
The Polygon Supernet chain gives developers the ability to build their projects in a customizable environment without hosting or operational costs, the company announced Friday. Developers will be able to deploy their projects on either a Supernet Sovereign Chain or Supernet Shared Security Chain — the former is managed by a single validator, which reduces maintenance costs, whereas the latter offers an easier path to decentralization with professional validators staking Polygon (MATIC) tokens to validate the network.
Although supernets rely on Polygon Edge, a development framework for projects that want to create and deploy their own blockchains, they go beyond the platform’s initial scope by offering more security and decentralization features. To further the adoption of supernets, Polygon plans to allocate $100 million to developers who want to build on the network.
Polygon co-founder Sandeep Nailwal said supernets will help advance his protocol’s goal of bringing “mass adoption to Web3,” adding that such developments are key to achieving widescale blockchain adoption. Read More
Why decentralized telecommunications is necessary to make Web3 a reality
Current flaws in today's internet, including poor performance and reliability, require a foundational change.
The world knows the public internet as the best transport network and the backbone of their daily routines. However, if one looks closely, the internet is far from perfect, with many considering the network untrusted and its usage synonymous with poor reliability and performance issues. Although these faults were once overlooked, the impending Web3 revolution has led many to recognize just how far the current internet foundation is from supporting the increased usage and performance requirements that come with the metaverse, decentralized finance (DeFi), and other blockchain-technology use cases.
Soon, every major company, industry, and consumer experience will be shaped by the metaverse and accompanying technologies. One of the biggest gaps still yet to be filled is a network that can support the requirements. After all, the centralized infrastructure the internet depends on is not public or trustless, direct violations of what the blockchain-led digital realm is hoping to achieve. Read More
Why Interoperability Will Be Crucial For Blockchain Games
Blockchain games have been hailed as the next generation of video gaming. With blockchain technology, video game developers can integrate cryptocurrencies and NFTs into their creations, enabling what’s known as “play-to-earn”, where players can win cash prizes and valuable NFT-based items that can be traded for crypto on third-party marketplaces.
Play-to-earn games have already proven to be a big hit in lower-income countries such as the Philippines and Venezuela, with some players reportedly earning thousands of dollars a month playing titles such as Axie Infinity. The ability to get paid for playing games is a dream come true for millions of gamers all over the world, and a growing number of game developers are looking to create more compelling titles to cater to the demand for it.
While a lot of the focus for developers has been on creating more compelling games with better gameplay and graphics, blockchain interoperability must also be a key consideration going forward. In the case of P2E games, interoperability refers to the ability to communicate with third-party marketplaces and other games. This will likely be an essential factor in the growth of new titles and the ecosystems around those games. 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
Privacy Blockchain Findora Launches Ethereum-Based Testnet 'Yellow Submarine'
The new venture was built in collaboration with the Project Columbus DAO.
Findora, a public blockchain focused on privacy in decentralized finance, announced today the testnet launch of its latest project, "Yellow Submarine," in partnership with the Project Columbus DAO.
Named after the iconic Beatles song, Yellow Submarine aims to offer a one-stop privacy protocol that lets users manage and discreetly transact Ethereum-based tokens across multiple blockchains.
Yellow Submarine combines Findora's native chain with an Ethereum Virtual Machine (EVM) extension known as Findora Smart Chain. (EVM refers to a software platform developers use to create decentralized applications on the Ethereum network.) It uses zero-knowledge proofs—a cryptographic method that allows certain details to be kept secret during a transaction while still demonstrating that the transaction took place and was legitimate. Read More
How to use Minecraft to understand the Metaverse and Web3
People can have a better knowledge of the Metaverse and Web3 by learning how to utilize Minecraft.
The Metaverse is a term coined by Neal Stephenson in his 1992 science fiction novel Snow Crash to describe a future virtual reality-based online world. Some have gone as far as pronouncing Stephenson’s novel a prediction of the future.
Before you agree that it’s some mystical peek into the future and invoke the rules of time travel, let’s first investigate what the Metaverse is through the lens of something much more accessible: Minecraft. But, more on this later.
Unlike the internet or even virtual reality as we know it today, the Metaverse would be a fully immersive 3D environment where people could interact with each other and with digital objects as if they were real.
The Metaverse is yet to be fully existent. However, some platforms have already created experiences close to what the Metaverse will be like. Video games, for example, have already pushed the boundaries of gaming via virtual economies and in-game events.
Simply put, the Metaverse is a concept of an online 3D universe that patchworks various virtual spaces. Much like a future iteration of the web, the Metaverse is coming to fruition bit by slow bit. The goal is to allow users to socialize, game, and even work in these 3D spaces. Read More
‘Legacy’ NFT prices are soaring, but exactly what makes a collection a blue-chip?
Investors are quick to label high-worth NFT collections as “blue-chips,” but what are the criteria for determining which project is worthy of the status?
"Blue-chip nonfungible tokens (NFTs)" is a popular buzzphrase one will find strewn across Twitter and various crypto media. The term, “blue chip,” is borrowed from traditional finance where stocks considered to be the well-established extension of corporations are known for their quality, reliability, and financial stability. But, exactly what are blue-chip NFTs and how are they identified? '
Nansen research analyst Louisa Choe, told Cointelegraph that since NFTs are still nascent “... it is sometimes challenging to apply these criteria since NFT, as an asset class, is still evolving.” The general consensus is that the much sought-after blue chip is the asset with the least amount of volatility, meaning it sustains its value over time.
Let’s explore a few of the factors that play into determining whether a particular NFT project qualifies for blue-chip status. Read More
Decentralized credit scores: How can blockchain tech change ratings
Borrowing and lending are two important parts of DeFi, but they have been missing an effective operating credential: a decentralized credit rating.
The advent of blockchain technology revolutionized a lot of sectors, especially the financial sector. Decentralized finance (DeFi), as a product of the burgeoning technology, has revealed the possibility of running financial services with a peer-to-peer (P2P) system, eliminating the idea of an intermediary or central authority.
Decentralized credit scoring refers to the idea of assessing a borrower’s creditworthiness using on-chain — at times off-chain — data without the need for an intermediary. The assessment is done on a blockchain run by a P2P system of computers without any central authority or point of control. Moreover, a decentralized credit rating erases the traditional credit bureaus from the picture.
Jill Carlson, an investment partner at Slow Ventures, expressed the importance of a decentralized form of credit scoring. She noted in a 2018 article that “solutions for decentralized credit scoring, therefore, could be extrapolated into larger identity systems that do not rely on a single central authority,” further stating that the issues that have come from a centralized credit scoring concept “have been more deeply felt than ever than ever in the last year,” citing the Equifax hack of 2017. 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.
