A community member said that Yuga Labs killed CryptoPunks with the new Super Punk World collection, while another threatened to sell their punk NFT.
The burgeoning world of cryptocurrency continues to grapple with issues of transparency, with a recent donation raising eyebrows across the digital currency landscape. Notcoin, a brand new play-to-earn game built on the Telegram messaging platform, sent a hefty $6.8 million worth of its own tokens (NOT) to Telegram founder Pavel Durov. While framed as a […]
The once-feverish NFT marketplace, where digital art and collectibles commanded millions, now resembles a deserted online bazaar. A new report paints a stark picture – a 97% plunge in trading volume since 2021 and a staggering 95% of NFT projects holding zero market value. This dramatic decline begs the question: is the NFT market headed […]
Kima is seeking to bridge traditional and Web3 finance and make the user experience more manageable.
Despite generating hundreds of thousands of dollars in daily fees, Runes has only surpassed $1 million in total fees twice in the last twelve days, signaling a notable decline.
MetalCore's CTO discusses the success of their blockchain game's beta, reflecting the growing trend of engaging Web3 gaming experiences.
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The post Top Five Layer 1 Chains Vs. Top Five Layer 2 Chains: A Comparative Analysis appeared first on Coinpedia Fintech News
Blockchain technology has evolved rapidly, with Layer 1 and Layer 2 chains offering distinct benefits. Layer 1 chains like Bitcoin and Ethereum are foundational, providing strong security and decentralisation. On the other hand, Layer 2 chains like Polygon focus on scalability, enabling faster and cheaper transactions. This article explores the top five Layer 1 chains …
The Web3 and AI firm Giza plans to bring autonomous bots onto Starknet by the end of June.
The partnership between the significant banking giants in the US and Mastercard is aimed at streamlining multiple asset-class settlements on a shared ledger platform.
Major stakeholders in the U.S. financial sector, including Citi, JPMorgan, Mastercard, Swift and Deloitte, are teaming up to explore sharing ledger technology by simulating multiasset transactions in dollars.
Regulators like HKMA and SFC united with local private sector firms like HSBC and HashKey to support the market of tokenization in Hong Kong.
VeChain and UFC's partnership brings blockchain to the octagon with NFC-chipped, tokenized gloves, enhancing memorabilia and preventing counterfeits.
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The latest in blockchain tech upgrades, funding announcements and deals. For the period of May 2-8.
Runes made a recovery to account for the lion’s share of transactions over the Bitcoin network.
The impending closure of zkSNACKs’ CoinJoin service has been described as a setback for Bitcoin developers and privacy proponents.
Learn how to track cryptocurrency transaction histories with detailed steps to help navigate and understand crypto transactions.
Bitcoin, the trailblazer of cryptocurrencies, reached a symbolic milestone this weekend, processing its 1-billionth transaction. This achievement has ignited a celebratory mood among proponents, who hail it as a testament to the digital currency’s growing legitimacy and potential. However, beneath the champagne toasts, whispers of caution linger as analysts grapple with the true significance of this benchmark. Related Reading: Is MATIC Poised For Takeoff? Key Area Breaks Records, Fueling Bullish Outlook Bitcoin’s Blockchain Bonanza: Security And Speed Take Center Stage At the heart of the celebration lies the accomplishment itself. Bitcoin’s decentralized network, often touted for its security, has demonstrably facilitated 1 billion transactions – a testament to its ability to function flawlessly at scale. This feat, based on data by Clark Moody, is particularly noteworthy when compared to established payment giants like Visa, which took roughly 25 years to reach the same milestone. Proponents like Tarik Sammour emphasize this achievement, highlighting that “Bitcoin has done so flawlessly, securely, and without any centralized intermediary,” a stark contrast to the traditional financial system. What’s amazing is not that the #Bitcoin network has now processed 1B transactions, but that it has done so flawlessly, securely, and without any centralised intermediary. https://t.co/XC09H5bO6u — Tarik Sammour (@tarik_sammour) May 6, 2024 Bitcoin Vs. The Goliaths: Can Crypto Really Compete? The celebratory mood extends to Bitcoin’s potential as a viable payments platform. Analysts point to the rapid growth of Bitcoin compared to established players like Visa and Mastercard. Founder of the Orange Pill App, Matteo Pallegrini, emphasizes this point, underscoring Bitcoin’s resilience despite facing giants with “billions of dollars in marketing spend and thousands of employees.” This comparison fuels the narrative that Bitcoin is disrupting the payments landscape, offering a faster and more transparent alternative. A screenshot of Bitcoin Network's transactions and BTC price performance. Source: Clark Moody. A Look Beyond The Billion: Challenges On The Horizon While the celebratory chorus is loud, a closer look reveals some lingering concerns. Bitcoin grapples with scalability issues, struggling to handle the high transaction volume necessary to truly compete with traditional payment processors. This often translates to high transaction fees, potentially hindering broader adoption. Furthermore, the environmental impact of Bitcoin mining, which relies on vast amounts of energy, remains a significant point of contention. Bitcoin is now trading at $64.244. Chart: TradingView The Verdict: A Toast With Reservations The 1 billion transaction milestone undoubtedly marks a significant moment for Bitcoin. It underscores the growing popularity and potential of this digital currency. However, a balanced perspective recognizes the challenges Bitcoin faces – scalability, transaction fees, and environmental concerns. Related Reading: XRP Holders Stack Coins Despite Price Dip: Bullish Signal Or HODL Of Desperation? While institutional investment and comparisons to internet adoption are encouraging signs, widespread individual adoption remains a question mark. The future of Bitcoin hinges on its ability to address these issues and evolve into a truly viable alternative in the global financial landscape. Featured image from Pexels, chart from TradingView
Layer 2 (L2) blockchain Eclipse and developer-oriented bridge Neon EVM have formed a new collaboration to implement changes in the blockchain landscape, increasing interoperability and scalability with the integration of Ethereum (ETH) and Solana (SOL). Aiming to combine the capabilities of both blockchains, Eclipse has consolidated the compatibility between the Ethereum Virtual Machine (EVM) and the Solana Virtual Machine (SVM) by deploying Neon Stack. Solana And Ethereum Integration The primary objective of this collaboration is to integrate Solana’s transaction handling capabilities, which can process thousands of transactions per second, into Ethereum. Related Reading: Ripple Unlocks 1 Billion XRP From Escrow – How Will This Impact Price? This integration will be facilitated by Neon Stack, a standardized development stack that enables smart contract developers to achieve Ethereum Virtual Machine compatibility on Solana Virtual Machine-based blockchain networks. Eclipse plans to leverage Neon Stack on its SVM L2 to facilitate this integration. The Neon Stack consists of Neon EVM smart contracts and Neon Proxy. It has been live on the Solana mainnet since July 2023. It has deployed numerous Ethereum-native Solidity decentralized applications (dApps), including decentralized finance (DeFi), gaming, and decentralized exchanges (DEXs), on Solana from its existing codebase. Neon EVM-Eclipse Partnership For Cross-Chain Development Davide Menegaldo, Chief Commercial Officer (COO) of Neon EVM, expressed enthusiasm for Neon Stack and the collaboration, stating: With Neon Stack, we are paving the way for high-performance, scalable dApps infrastructure that transcends the limitations of traditional blockchain architectures and redefines computational efficiency. We are pleased to see Eclipse as the first industry partner to utilize the Neon Stack. On the other hand, Neel Somani, founder of Eclipse Labs, the company behind the development of the Layer 2 blockchain, also emphasized the importance of the partnership, saying: Our collaboration with Neon Stack enables developers to seamlessly deploy their dApps from EVM chains to Eclipse, further strengthening the harmonization between Solana and Ethereum. Solidity developers who wish to build on a high-performance L2 that leverages the strengths of the SVM can finally do so.” Interestingly, the Ethereum ecosystem hosts over 13,000 dApps, with only a small fraction, 0.4%, cross-chained with Solana. This collaboration between Neon EVM and Eclipse could also provide further opportunities for developers to build new dApps with the new integration. Related Reading: Whales Dive In, But Dogecoin Price Sinks 20%: What’s Going On? In sum, it is believed that developers will be able to build advanced dApps that leverage the features of Ethereum and Solana, along with their respective native ecosystems and virtual machines, by leveraging the design of the NEON Stack and Eclipse. As of the current update, the native token of NEON EVM, NEON, is trading at $1.0135. It has shown a 2.6% recovery over the past 24 hours, aligning with the overall positive movement in the cryptocurrency market. However, during the past 7 days, the token has witnessed a price decline, experiencing a nearly 8% drop. Featured image from Shutterstock, chart from TradingView.com
Unlock the full potential of blockchain with rollups, the ultimate scalability solution for faster, more affordable transactions.
The Akita Inu, a majestic breed hailing from Japan’s northern prefecture of Akita, has gained international acclaim in recent years. To combat rising concerns about pedigree forgery and lost documents, the Akita Inu Preservation Society is embracing the digital age. They’ve partnered with a tech firm to develop a secure system using blockchain technology, the […]
Chainalysis unveils a surge in blockchain wallet activity, with over 400 million wallets, signaling crypto market confidence and adoption.
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India’s general election in 2024 is not expected to immediately affect crypto policy, and its current – restrictive – rules are expected to continue on through the upcoming Parliamentary term.
SKALE Network reported $3.1B in Q1 fee savings, a surge in user activity, and strategic partnerships in 2024
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The Wild West of cryptocurrency just got a little wilder. Solana, the blockchain known for its lightning-fast transactions, recently became a breeding ground for a peculiar phenomenon: the meme coin frenzy. While these dog-themed, cat-inspired, or just plain nonsensical tokens promised moon landings, many investors landed face-first in a crater of lost cash. Related Reading: Bitcoin Miners Strike Gold: $107 Million Profit From Runes-Fueled Minting Spree Solana Stampede: A Frenzy Of Frivolous Finance Fueled by social media hype and the fear of missing out (FOMO), a stampede of investors poured money into meme coin presales. A project with a name like “I Like This Coin” (LIKE) sprouted like weeds, promising outlandish returns. The “I Like This Coin” story, however, turned out to be a classic case of “buyer beware.” Despite an initial market cap of a staggering $577 million, the token’s value plummeted by a disastrous 90% within a mere eight hours of launch. The party didn’t stop there. Blockchain investigator ZachXBT uncovered a particularly galling trend: a dozen meme coin projects vanished into thin air after their presales, taking a combined $26.7 million from investors with them. Only 1 month has passed and 12 of the Solana presale meme coins have been completely abandoned after raising >180,650 SOL ($26.7M). Would avoid any future projects launched by these founders. https://t.co/J0zFldRIa6 pic.twitter.com/K610MAEPMn — ZachXBT (@zachxbt) April 21, 2024 Solana Slowdown: When Meme Mania Clogs The Network The meme coin craze wasn’t without collateral damage. The massive influx of transactions clogged the Solana network, leading to transaction failures and frustrating delays. This highlighted a fundamental issue with meme coins: they often lack real-world applications and contribute little to the underlying blockchain’s development. Solana’s founder, Anatoly Yakovenko, wasn’t shy about expressing his skepticism. He questioned the very concept of meme coin presales, suggesting they were better suited for projects with strong tech foundations. Yakovenko’s comments resonated with many who saw the meme coin frenzy as a speculative bubble fueled by empty promises and social media hype. Solana is currently trading at $155.69. Chart: TradingView Meme Coin Meltdown: A Cautionary Tale For Crypto Curious Investors The rise and fall of Solana’s meme coins serves as a stark reminder of the inherent risks associated with investing in unregulated, highly speculative assets. While the allure of quick riches might be tempting, the potential for scams and rug pulls (where developers abandon a project after raising funds) is significant. Related Reading: Is The Bitcoin Bloodbath Over? Analysts Say $60,000 Is The Cycle’s Bottom The fallout from the meme coin frenzy could have lasting repercussions. Regulatory bodies might take a closer look at this corner of the crypto world, potentially leading to stricter measures to protect investors. For those interested in exploring the exciting world of cryptocurrency, the lesson is clear: conduct thorough research, prioritize projects with real-world use cases, and always remember what the sages mean when they say if it sounds too good to be true… Featured image from Pexels, chart from TradingView
Utilizing blockchain-based mapping enables decentralized storage of huge data, resolving latency concerns during data access and sharing.
Tanssi Foundation's "Lets Forkin' Dance" is an incentivized testnet campaign designed to enhance the Tanssi's ecosystem.
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Nibiru Chain invests over $15M in developer grants to support its smart contract platform's growth and ecosystem expansion.
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There aren't enough secondary markets that support tokenized assets, and they come with risks, the ratings company said.
DeFi and Web3 gaming led blockchain Q1 growth with a surge in daily transactions and active addresses, signaling a vibrant start to 2024
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Forge partners with Xterio to bring an array of Web3 games to its community, enhancing player engagement in a new campaign.
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