blockchain

Ava Labs CEO Warns of Substandard L2 Projects, Says Next Cycle Will Be Worse

Emin Gün Sirer, the founder and CEO of Ava Labs, has sounded an alarm on the rise of substandard layer 2 (L2) solutions in the crypto space. Drawing parallels with the fallout from the FTX collapse, he cautioned investors about the dangers associated with investing in these “trash” projects. Ava Labs Founder Highlights L2 Red...
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This Blockchain Game Was Exploited for $4.6 Million Right Before its Launch

Super Sushi Samurai, a blockchain game native to layer-2 solution Blast, was exploited hours before its much-anticipated gaming product was launched. The exploit, reportedly orchestrated by a white hat hacker, has resulted in a loss of $4.6 million due to a bug in its smart contract code. Smart Contract Bug Exploited According to an announcement...
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BRICS Is Developing a Blockchain Payment System

Russia, a member of the BRICS alliance, announced the development of a new blockchain-based payment system to revolutionize trade settlements. The system is set to become an independent mechanism for conducting transactions among BRICS member nations. Blockchain-Based Payment System Plans The BRICS alliance, consisting of Brazil, Russia, India, China, and South Africa, plans to collaborate...
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Ethereum’s Dencun Upgrade Set to Drive Near-Zero Transaction Fees

The forthcoming Ethereum Dencun upgrade scheduled for March 13 offers a chance for near-zero transaction fees for layer 2 (L2) solution users, possibly drawing in more new ones, as per a research report by Fidelity Digital Assets. The forthcoming upgrade marks the initial step in Ethereum’s rollup-focused roadmap. This advancement will empower the network to...
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Friend.tech Investors Grant Users Full Token Control Amid Resurgence Efforts

Friend.tech, a Web3 social platform, has revealed that its investors have unanimously decided to waive their rights to sell tokens to users, granting them full control over the funds. The decentralized social media protocol garnered significant attention last year but has recently experienced a decline. Friend.tech Is Looking for a Comeback Friend.tech users have been...
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Energy Trading Platform SunContract Introduces First NFT-Powered Solar Panels Marketplace

The Slovenian energy trading platform – SunContract – launched the first NFT marketplace for solar panels, enabling direct earnings or energy consumption from tokenized solar farms. The project leverages blockchain to democratize renewable energy access, allowing holders to manage their energy assets easily. According to a press release shared with CryptoPotato, the entity has introduced...
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Here’s Why the Shido Token Crashed 94% Despite the Ongoing Market Rally

The Shido blockchain, a layer-1 proof-of-stake project, has been hit by an exploit that saw billions of its native token, Shido, siphoned away. This incident led to the Shido token plummeting by 94% in value within just 30 minutes. Over 4.3 Billion Tokens Lost in Exploit According to reports from blockchain security firm PeckShield, the...
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Achieving Equilibrium Between Blockchain Security and Decentralization (Op-Ed)

By Trevor Traina, Founder and CEO of Kresus You are reading these words because our planet is orbiting the sun at just the right distance to neither fry nor freeze us. Our planet is perfectly balanced for life to thrive. And within that world, numerous other forces exist in a state of optimal balance: light...
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StarkWare Adapts New Token Release Structure Amid Concerns: What’s Changing?

StarkWare, a blockchain firm developing layer 2 scalability protocol Starknet, announced that it is changing the token release structure set for STRK. The move comes after concerns from the community that the initial plan might enable the network’s investors to dump their holdings onto retail Starknet users. StarkWare Releases New Token Release Structure Initially, StarkWare...
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Vitalik Buterin Advocates for Advanced L1 Features

Vitalik Buterin, the co-founder of Ethereum, recently expressed skepticism regarding the prevailing notion of prioritizing simplicity in Layer 1 (L1) blockchains over Layer 2 (L2) solutions. Buterin disclosed that his confidence in simplifying L1s at the expense of more intricate L2s has diminished significantly over the past five years. Bug Risks in L2 Networks Buterin...
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Autoglyphs Set Fetches Record-Breaking $14.6 Million in Historic NFT Sale

In a recent development that’s making headlines, a complete set of 10 Autoglyphs has been acquired for 5,000 ETH, equivalent to approximately $14.6 million. This sale marks the highest NFT sale in the past two years and stands as the fifth-largest purchase on-chain, setting a new benchmark for the value of blockchain-based artworks. The Collection...
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Mondelēz International Partners With Hedera on Distributed Ledger Technology

The Hedera Council announced a new partnership with food giant Mondelēz International, the company behind popular brands such as Toblerone, Cadbury, and Oreo. As the governance body for the Hedera public network, the council will assist Mondelēz in developing distributed ledger technology solutions for internal use. Currently, the Hedera network is governed by a wide...
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Stacks Skyrockets 3,028% in Annual Revenue Ahead of Nakamoto Upgrade

Stacks, a Bitcoin Layer 2 solution, had major growth over the last year with a 3,386% quarterly and 3,028% annual increase in its revenue, reaching $637,000. The market capitalization of Stack’s native cryptocurrency, STX, experienced a significant surge of 203% quarterly and an impressive 598% year-over-year, reaching a milestone of $2 billion. Stacks Q4 Report...
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Ethereum’s Dencun Upgrade Is Now One Step Closer After This Deployment

The highly-anticipated Dencun upgrade of Ethereum was successfully deployed on the Sepolia testnet on Jan. 30. This marks the second deployment out of three planned testnet launches, bringing the Ethereum community one step closer to embracing the features of Dencun. Smooth Sailing on Sepolia Testnet Terence Tsao, from Prysmatic Labs, the team behind the Prysm...
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This Network Had as Many Users as Ethereum in 2023: Flipside Data

Polygon, a layer-2 scaling network, nearly matched Ethereum’s user base in 2023, as reported by blockchain analytics firm Flipside. Polygon acquired 15.24 million users that year, coming close to Ethereum’s 15.4 million, with a difference of around 160,000 wallets. Polygon Topped User Acquisition in First Half of 2023 Flipside defines an “acquired” user as someone...
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Here’s Why Bitcoin’s Hashrate Fell by 25% 3 Months Before Next Halving

The Bitcoin hashrate has experienced a 25% drop since the weekend, raising concerns about the security of the network just ahead of the highly anticipated “halving” event. Data sourced from BTC.com reveals a decline in global hashrate estimates from approximately 600 EH/s on Friday to 450 EH/s by Tuesday. Texas Cold Weather Affects Bitcoin Hashrate...
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dYdX Overtakes Uniswap in Daily Transaction Volumes

Decentralized exchange (DEX) dYdX has made headlines by surpassing Uniswap, a long-standing leader in the sector, to become the platform with the largest 24-hour trading volume. This achievement is particularly significant following dYdX’s strategic migration from the Ethereum blockchain to the Cosmos ecosystem. dYdX Surpasses Uniswap Following Cosmos Transition dYdX, a crypto derivatives platform, announced...
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Web3 Apps Surged 124% in 2023, According to DappRadar

The dApp industry experienced unprecedented growth, with DappRadar’s 2023 Industry Report revealing a 124% year-over-year increase in Unique Active Wallets (UAW). The report provides an overview of the dynamic landscape, shedding light on key NFTs, DeFi, and blockchain gaming trends. Blockchain Games Dominate Blockchain-powered games took the lead in dApp activity with a dominance of...
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Over 30% of Blockchain Games Launched in 2023 Reported as Dead

More than 30% of blockchain games announced in 2023 have been reported as discontinued or canceled, as per the data provided by the Big Blockchain Game List. As of January 2024, the list encompasses 911 games, with 334 currently live and 577 still in development. Blockchain Games Face High Discontinuation Rate Out of the cumulative...
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Vitalik Buterin’s Public Praise Sends ENS Token Price Skyrocketing 80%

On January 3, a significant development led to an impressive 80% surge in the value of the Ethereum Name Service (ENS) token. This sudden increase, which marked an eight-month high, can be attributed to the public recognition and praise given by Ethereum’s co-founder, Vitalik Buterin, highlighting the importance and value of this service. Vitalik Buterin’s...
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Breaking: Etherscan Acquires Leading Solana Explorer Solscan for Undisclosed Amount

The leading block explorer, API, and analytics platform for the Ethereum network, Etherscan, has announced a strategic acquisition of Solana’s leading block explorer, Solscan. According to the announcement, the Solscan ecosystem has officially joined the Etherscan portfolio, including BNB Smart Chain explorer Bscscan. Amid the exponential growth of the Solana ecosystem, the acquisition by Etherscan...
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Player Liquidity: A Key Theme for 2024 in Blockchain Gaming

The infrastructure for Web3 game development is experiencing rapid expansion, according to Delphi Digital’s recently published report titled “The Year Ahead for Gaming 2024.” The collective market capitalization of 183 gaming projects has demonstrated relative stability, fluctuating between $4 billion and $7 billion throughout the year. This range is notably 86% lower than the peak...
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Crypto VC Funding Sees 68% Decline in 2023, Compared to $33.3 billion in 2022

In 2023, there was a notable transformation in cryptocurrency investments as crypto venture capital (VC) funding experienced a significant decline of 68%, dropping from the $33.3 billion invested in 2022 to $10.7 billion. Despite this decrease, 2023 remains the third-highest year in total crypto investments, surpassing the figures during the previous bear markets of 2019...
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Potential Reasons Behind Uniswap’s Recent Growth and UNI’s Price Surge

Uniswap has seen substantial growth over the last week following the implementation of various features on the platform, such as Rootstock, an Android mobile wallet app, and extended capabilities to other blockchains. Uniswap’s native cryptocurrency, UNI, has also experienced a notable surge during the recent crypto bull market, witnessing a 22% increase over the past...
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zkSync Era Network Bug Causes Block Production Halt

zkSync Era developers took to X (formerly Twitter) to announce the blockchain was encountering network issues, promising users that teams are working to resolve problems “as swiftly as possible.” Later on, they posted an update, saying the issues were resolved and the network was fully operational. The zkSync Era network is now fully operational. At...
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Stablecoins Value Dip in Recent Bull Market: Sixdegree Research

According to research by Sixdegree, stablecoins have not seen a significant increase in value during the recent bull market. Their current total value is $129.5 billion, slightly lower than the $139 billion recorded in December 2022. Ethereum vs. Tron in 2023 This trend can be attributed to the contrasting developments on two major blockchain platforms:...
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Artificial Intelligence (AI) Agents Set to Rule the Blockchain: Nansen Reports

In the face of declining prices in the crypto market and rising global interest rates, investors turned their attention to artificial intelligence (AI) this year. Bitcoin will remain the primary focus in the future; experts also suggest that AI will take center stage. According to Nansen’s latest projection, AI agents will dominate the blockchain in...
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Chainlink Sets Focus on Real-World Asset Tokenization in 2024

In its December 19 Q4 product update, Chainlink announced a series of strategic initiatives to bridge the gap between traditional finance (TradFi) and blockchain technology. The crypto oracle provider has revealed its plan to support the virtual tokenization of Real World Assets (RWAs) on the blockchain, marking a significant step in integrating digital and traditional...
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Solana Mobile Faces Inventory Management Issue, Unable to Fulfill New Orders

Solana Mobile has announced on X that it cannot fulfill orders placed after its Solana Saga inventory ran out. This issue has arisen due to a management problem with the third-party distributor. Notably, this development follows the sellouts in the U.S. and the EU, where the company faced high demand but had a limited inventory...
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Solana Saga Phone Labeled ‘Failure of 2023’ Despite Surge in Demand

The Solana Saga smartphone has garnered the unfortunate title of the worst smartphone of the year, as declared by popular YouTuber Marques Brownlee (MKBHD). Notably, the phone has experienced a surge in demand, leading to a sell-out, which occurred concurrently with an increase in the price of a memecoin developed on the Solana smart contract...
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