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Web3 Data Ecosystem Pocket Network Adds Support for the Fantom Blockchain
The Web3 blockchain data ecosystem Pocket Network adds support for the Fantom blockchain, allowing developers to mint Fantom RPC endpoints for their applications directly from Pocket Portal, earning $POKT tokens.
Remote Procedure Call is a software communication protocol that one program can use to request a service from a program located on another computer on a network without having to understand the network's details. RPC is used to call other processes on the remote systems like a local system.
Pocket Network is a blockchain data platform built for applications that use cost-efficient economics to coordinate and distribute data at scale, enabling seamless interactions between blockchains and applications.
Fantom is a highly scalable blockchain platform for DeFi, crypto dApps, and enterprise applications.
Michael Kong, CEO of the Fantom Foundation, said that:
“Having Pocket Network’s decentralized RPC on Fantom brings us one step closer to a future built on censorship-resistant and decentralized infrastructure.” Read More
Cryptopedia: Learn the basics of smart contracts and how they work
Cointelegraph explains what smart contracts are and how this blockchain-based technology changes the way transactions are made.
Cointelegraph's Jackson DuMont tackles smart contracts in the latest episode of Cryptopedia. He explains how smart contracts work from the basics and provides examples of how they can be utilized in real-world scenarios.
DuMont describes smart contracts as code within the blockchain that "execute when specific conditions are met." They are self-executing contracts built on blockchain technology and have the power to complete transactions without middlemen. Read More
Turning up the volume: Blockchain projects aim to disrupt the music industry
From letting fans co-own their favorite artists’ music to providing fair earnings for musicians, projects are using blockchain to change the music industry.
Music is a tricky business. The industry has its fair share of controversies, from monopolies to the limited earning potential for up-and-coming artists. While Web2 brought many positive changes, the industry still has a long way. Because of this, projects are trying to utilize blockchain technology to provide new solutions for the age-old music market.
Over the last 10 years, the industry has changed drastically because of the internet and social media development. Artists have new mediums to share their songs, and fans have many new ways to engage with and support their favorite musicians.
However, like most things within the Web2 sphere, a select few own the assets in the industry, and large corporations profit more than the users and artists. While they are still in their early stages, some blockchain projects are trying to take a shot at changing the industry from within. Read More
Is Web3 like playing Minecraft?
Web3 may feel like hype but will most likely be the newest version of the internet.
Web3 is a buzzword lately, especially for those who are interested in technology, blockchain technology, and crypto. It’s going to be the future of the internet, where we all are going to take part in. Even though we’re used to buying, watching, and finding everything online, there’s one thing we can’t do at the moment: taking the lead.
Giants like Google, Meta, and Amazon are ruling the online world right now, but they’re excited for the new making its appearance. Alphabet Inc. CEO Sundar Pichai tells in a Bloomberg interview he’s “watching the blockchain space and looking at how Google’s parent company can add value to development of the technology that’s being embraced by many of his Silicon Valley peers.”
Web3 enables the newest version of Minecraft and will upgrade the gamer experience.
So, we know now what Web3 is, but what’s the difference between Web3 and Minecraft? And, how is it connected to the Metaverse? Web3 is the newer version of the internet, where everything is more connected and decentralized — just like the already existing Minecraft worlds. Minecraft is an adventurous game with endless possibilities, where you can build and explore the ever-changing landscape. Read More
Innovations that will change the way we work and interact online.
The Markethive Social Market Broadcasting Network becomes more prominent daily as the blockchain-driven ecosystem for entrepreneurs with a non-adversarial, bi-partisan free speech ethic and the collaborative culture we rarely see on social media platforms today. Even the newer acclaimed, free speech platforms are partisan to the left or right and deal with de-platforming and boycotts from payment providers.
Unlike the social media giants, which only have one primary news feed algorithmically set by the central authorities, Markethive is integrating four news feeds to accommodate the multi-functional platform within the Markethive ecosystem.
The individual feeds are General, Video, Blogging, and Content Curation, and they are all accessible from the main page and can be algorithmically set by the individual user. The scope that Markethive has is enormous as it integrates all the vertical systems of the other platforms under one roof.
Social + Video + Blogging + Marketing + Curation + Broadcasting + Affiliate + Gamification + Cottage Businesses = Markethive: A Powerful Blockchain-driven Ecosystem
There is nothing out there like Markethive. We are an Inbound Marketing (automated marketing platform) like Marketo, Paragon, and even the wannabee MLM Onpassive platform. We are like Youtube, Instagram, LinkedIn, Twitter, etc., but will be superior to these legacy Web 2 media when we release all the aspects and layout of Markethive 2.0.
We have a dynamic social media interface and growing community with a strong collaborative ethos, with SaaS and broadcasting capabilities already operational. We are not waiting for the launch to access the services; they are already there for you to use to help you facilitate your business and increase your reach and following.
Markethive is enhancing and bringing the platform into the future internet with our new technology and interfaces, but still in keeping with the human touch. Read More
Central African Republic Didn't Share Bitcoin Adoption Plans With Central Bank: Report
This week, the Central African Republic became the second country to make Bitcoin legal tender.
The Bank of Central African States said it had not been notified of the Central African Republic's plan to make Bitcoin legal tender.
The former prime minister is also skeptical of the government's capacity to implement the law.
In its rush to make Bitcoin legal tender this week, the Central African Republic (CAR) reportedly neglected to inform its central bank.
On Friday, a spokesperson for the Bank of Central African States, a regional central bank for the six countries that use the Central African CFA franc (XAF), said the bank hadn't been notified in advance, per a report from Bloomberg.
Early Wednesday, the office of President Faustin Archange Touadera signed into law a bill making Bitcoin an official currency alongside the CFA franc. It became just the second country to do so, after El Salvador, which adopted BTC in September. Read More
Self-custody, control, and identity: How regulators got it wrong
The EU proposal requiring one to link a self-custodial wallet to their identity fundamentally misunderstands the concept of self-custody.
The recent European Union proposal requiring centralized crypto exchanges and custodial wallet providers to collect and verify personal information about self-custodial wallet holders shows the dangers of recycling traditional finance (TradFi) rules and applying them to crypto without appreciating the conceptual differences. We can expect to see more of this as countries look to implement the Financial Action Task Force (FATF) Travel Rule, initially designed for wire transfers, to transfers of crypto assets.
The (missing) link between self-custody, control, and identity:
The aim of the proposed EU rules is “to ensure crypto-assets can be traced in the same way as traditional money transfers.” This assumes that each self-custodial wallet can be linked to someone’s verifiable identity and that this person necessarily controls the wallet. This assumption is wrong. Read More
Liquidity has driven DeFi’s growth to date, so what’s the future outlook?
On-chain liquidity was the catalyst of DeFi Summer 2020, but what will lead the DeFi markets to hit a trillion dollars within another year or two?
In mid-February 2020, the total value locked within decentralized finance (DeFi) applications first exceeded $1 billion. Fueled by the DeFi summer of 2020, it wouldn’t even take a year before it multiplied 20-fold to reach $20 billion and only another ten months to reach $200 billion. Given the pace of growth so far, it doesn’t seem outlandish to imagine the DeFi markets hitting a trillion dollars within another year or two.
We can attribute this monumental growth to one thing — liquidity. Looking back, DeFi’s expansion can be defined in three eras, each representing another significant development in removing barriers to liquidity and making the markets more attractive and efficient to participants.
DeFi 1.0 — Cracking the chicken and egg problem:
DeFi protocols existed prior to 2020, but they suffered somewhat from a “chicken and egg” problem when it came to liquidity. Theoretically, someone could provide liquidity to a lending or swap pool. Still, there aren’t enough incentives for liquidity providers until there’s a critical mass of liquidity to attract traders or borrowers who will pay fees or interest. Read More
Warning: Smartphone text prediction guesses crypto hodler’s seed phrase
Redditor Andre highlighted the ease with which hackers can use the text prediction feature to drain a user’s funds just by being able to type the first word out of the BIP 39 list.
Seed phrases, a random combination of words from the Bitcoin Improvement Protocol (BIP) 39 list of 2,048 words, act as one of the primary layers of security against unauthorized access to a user’s crypto holdings. But what happens when your “smart” phone’s predictive typing remembers and suggests the words next time you try to access your digital wallet?
Andre, a 33-year-old IT professional from Germany, recently posted on the r/CryptoCurrency subreddit after discovering his mobile phone’s ability to predict his entire recovery seed phrase as soon as he typed down the first word.
As a fair warning to fellow Redditors and crypto enthusiasts, Andre’s post highlighted the ease with which hackers can use the feature to drain a user’s funds just by being able to type the first word from the BIP 39 list:
“This makes it easy to attack, get your hands on a phone, start any chat app, and start typing any words off the BIP39 list, and see what the phone suggests.” 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.
