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Decentralized file-storage pricing differentials persist despite market growth: Report
Depending on the metrics, the cost of decentralized file storage can be very low or significantly higher than Web2 counterparts.
According to a new report published by Singaporean venture capital firm Foresight Ventures, the cost of decentralized file storage on blockchains such as Filecoin, Arweave, Swarm, StorJ and Sia currently ranges from near zero to $4 per terabyte (TB) per month. This is much lower than traditional Web2 services such as Amazon Cloud or Microsoft Azure, where prices can range from $16 to $23 per TB of monthly storage.
However, the report also outlines other costs associated with decentralized storage, such as data upload fees and retrieval fees, the latter of which can amount to $7 per TB. Some service providers mentioned in the report, such as Filecoin, only had storage fees, which were also quite low, while others had all three types of the aforementioned fees.
In addition, analysts at Foresight wrote that blockchain storage still faces issues such as “file loss," “difficult to retrieve data” and “high bandwidth requirements.” Pointing to one blockchain, researchers commented:
"Price does not account for bandwidth. Some nodes only provide storage services, refuse retrieval." Read More
Phantom Wallet CEO explains why wallets must move to be multichain
Phantom Wallet CEO Brandon Millman argues airdrops may not be worth the hype and self-custody wallets are not off the hook regarding regulation.
Wallets have always been a key topic in the cryptocurrency industry because of their essential role in adoption. As the crypto world evolves and enters the multichain phase, wallets may need to operate differently. In Episode 16 of Hashing It Out, Phantom Wallet CEO Brandon Millman joins Elisha Owusu Akyaw to discuss how wallets are adapting to the cryptocurrency space’s multichain nature. Millman also shares his thoughts on airdrops for wallet applications, regulations and what a multichain landscape means for adoption.
Before Phantom, Millman had prior experience building decentralized tools. He helped build Matcha.xyz, a decentralized exchange aggregator on Ethereum, and 0x APIs that power other aggregators. According to him, the important role wallets play in onboarding users was what attracted him to building a wallet application.
Phantom started as a Solana-only wallet, as the team believed in its growth trajectory because it “had the right ingredients to be a huge ecosystem.” Millman argued that the bet was not misplaced, as the network witnessed growth in 2021 and 2022 and is holding up despite the bear season.
Nonetheless, Millman pointed out that the ecosystem is evolving, and wallet applications need to adapt to the multichain nature of the space. The CEO of Phantom identified that there are some technical hurdles to cross as wallets that have originally been native to one chain move to support other networks. He highlighted two issues: The method for deriving keys on various chains differs, and there is a need to build a system that manages multiple nodes on the back end. Read More
11 industry leaders discuss effective ways to ensure compliant staking
Staking protocols are subject to evolving and varying regulations, so be prepared to monitor and meet new legal requirements.
As even late-night talk show hosts begin to weigh in on events in the crypto industry, it’s clear the public is increasingly paying attention to both the potential and challenges of investing in crypto. Of even more immediate concern to crypto companies, though, are the questions around the type and number of legislative guardrails lawmakers will inevitably impose.
As regulators start to eye staking protocols, companies must ensure they engage in the ongoing work of ensuring that their staking is compliant. Below, 11 members of Cointelegraph Innovation Circle discuss effective ways for companies to ensure compliant staking as the industry continues to evolve. Read More
Phantom To Launch Ethereum And Polygon Multichain Integration
Phantom, a Solana-based crypto wallet, is set to expand its support to include Ethereum and Polygon blockchains, opening its doors to a broader range of crypto users.
According to Phantom, the feature for multichain support will have a public launch on May 1st. The public launch will place on May 1. The Web3 wallet has published an initial guide on how to import and manage multiple wallets natively on its web and mobile apps.
With the integration, Phantom's multichain wallet will simplify the management of multiple Secret Recovery Phrases and private keys across Solana, Ethereum, and Polygon. Users may then import and use existing multichain addresses from popular wallets like MetaMask, Coinbase Wallet, and Rainbow, eliminating the need for multiple wallets. Phantom allows for the creation and management of up to 100 accounts, enabling easy management of all Secret Recovery Phrases and private keys within a single platform.
Originally scheduled for launch in Q1 2023, the addition of Ethereum and Polygon support enables Phantom's 3 million users to transfer assets across different blockchains and interact with decentralized applications (dApps) such as Uniswap and Aave, as well as NFT marketplaces like Blur and OpenSea. Phantom wallet users can now also import existing assets from MetaMask, Solana, or Ethereum Virtual Machine (EVM) wallets. 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
Robinhood Launches 'Connect' to Link Native Crypto Wallet to DeFi Apps
"We recognize there are still significant hurdles preventing broader adoption," said Johann Kerbrat, the company's crypto general manager.
Robinhood has introduced Robinhood Connect, an update that will allow users of its crypto wallet to access their credentials and funds directly from decentralized finance (DeFi) protocols and applications—all without having to open the Robinhood app itself.
The new feature will give users the flexibility to access funds in their Robinhood wallets directly from DeFi applications. Robinhood Connect, which developers will be able to embed in their apps, will make accessing DeFi more seamless for Robinhood users, the company said in a press release.
Robinhood also announced a collection of new features, including a crypto home tab, price alerts, and advanced charts, where users can manage their portfolio, track the price of crypto assets, and place stop and limit orders, according to a press release.
“Crypto and Web3 have the potential to change the future of the financial system for the better, but we recognize there are still significant hurdles preventing broader adoption,” Johann Kerbrat, Robinhood's Crypto General Manager, said in a press release. “Our conviction in the future of Web3 remains strong.” Read More
Polygon Announces Polygon Bridge for its Zero-Knowledge Rollup
The scaling solution aims to solve the blockchain trilemma – decentralization, scalability, and security – crucial for the Web3 sector.
Polygon announced that Polygon Bridge is now available for Polygon zkEVM. The development comes a month after the launch of the zero-knowledge rollup on Mainnet Beta.
The symbolic first transaction on Polygon zkEVM Mainnet Beta was performed by Ethereum co-founder Vitalik Buterin. Polygon zkEVM Mainnet Beta is designed to be an all-purpose Ethereum scaling protocol that allows developers means to build on it with the usage being similar to Ethereum, without modifying languages or tooling.
According to the official blog post, Polygon Bridge for zkEVM will feature several improvements that incorporate feedback received from the community and include a more visible progress bar, transaction history, and recent transaction panel with color-coded completion status, time estimates for pending transactions and the ability to filter.
Polygon Bridge for zkEVM is powered by zero-knowledge technology, meaning – they are governed entirely by smart contracts – one on Ethereum and one on Polygon zkEVM. Moreover, users will be able to withdraw funds from the Ethereum mainnet within 30-60 minutes. It will also support ERC-20 tokens and the extended features of ERC-777 tokens. Read More
How can blockchain projects benefit from deploying their own DEX?
As the crypto industry relies on centralized exchanges, blockchain projects are exploring the benefits of DEX integration to regain control of their native tokens.
Cryptocurrency exchanges have been instrumental in the adoption of blockchain technology, but the industry has become too dependent on them. Today, the crypto industry is still geared toward exchanges and traders rather than blockchain projects and developers. There is too much friction for developers building projects on the app layer.
Getting listed on a major centralized exchange (CEX) is a six-figure expense, plus additional fees each month for a market maker to ensure liquidity. In 2018, a Business Insider investigation found that crypto exchanges charge between $50,000 and $1 million to list initial coin offerings (ICOs).
Even after those expenses, exchanges are the ones who profit from all the trading fees, which drains value from crypto projects and makes it hard to attract liquidity in a sustainable way.
Besides exorbitant listing fees, DApp builders lose control over the liquidity and value of their tokens by having to abide by the exchange’s policies and fees. In addition, listing on centralized exchanges can also lead to counterparty risk (not your keys, not your coins). Read More
Mastercard launches Web3 user verification solution to curb bad actors
Mastercard’s new solution revolves around providing “secure transactions between users, verified according to standards” set by the company.
Global financial services giant Mastercard has launched a new Web3 solution aimed at enhancing user verification standards and “reducing the opportunities for bad actors” in the digital asset space.
The solution announced on April 29 is dubbed the “Mastercard Crypto Credential.”
In an accompanying explainer video shared to Twitter, the firm outlined that its “building a way for Web3 and blockchain service providers to help secure transactions between users, verified according to standards set by Mastercard.”
As part of the solution, users will be issued a “Mastercard crypto credential unique identifier,” which, in theory, enables people to instantly verify that an address they want to send funds to has been vetted by Mastercard and has been operating in compliance with the firm’s standards.
“The solution is also designed to support compliance through the exchange of essential metadata, required to meet regulations,” Mastercard stated, adding that it should help “reduce the opportunities for bad actors and the risk of funds being lost for good.” 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.
