crypto blog
Interview: Aave CEO on launch decentralised social network platform, Lens Protocol
Aave Companies has today announced the launch of an open-source tech stack for the building of social networking applications. Named the Lens Protocol, it will reside on the Polygon blockchain and allow developers to build social media apps, marketplaces, recommendation algorithms, and more. Contained within the decentralised ecosystem that we call Web3, it will leverage NFT technology to allow users to fully own their data, unlocking new ways for creators to monitise their digital content and relationships with followers. Amid all the controversy around freedom of speech and Elon Musk’s takeover of Twitter, it’s a poignant time to be launching this new kind of social media endevour, and turn the keys of censorship over to the public. To gain more of an insight, Coi...
Everyrealm and Storyverse Partner to Create Interactive Stories for NFT Communities
Los Angeles, United States, 18th May, 2022, Chainwire EveryRealm Purchases 250 PLOTs in Storyverse’s Now Sold Out Public Sale Storyverse, the first-ever interactive storytelling platform on the blockchain, today announced its partnership with Everyrealm, a leader in metaverse innovation and development, to provide the foundation for NFT communities to create fun, interactive story games within the metaverse. The Storyverse recently hosted its genesis public sale of PLOTs which sold out in seven minutes. Everyrealm, one of the most active investors in and developers of the metaverse real estate ecosystem, purchased and now manages 250 PLOTs in the Storyverse. The Storyverse provides ‘no-code’, interactive story publishing tools for NFT communities looking to collaboratively crea...
Axie Infinity’s Discord bot compromised, hackers issue fake minting message
Axie Infinity, the popular play-to-earn nonfungible token (NFT) game, faced another attack on its Discord server earlier on Wednesday, leading to a compromise of its MEE6 bot. MEE6 is a popular discord bot mainly used for automating roles and messages and is used by numerous crypto projects. The attackers used the compromised bot to add permissions to a fake Jiho account and later issued a fake announcement regarding a mint. The developers managed to remove the compromised MEE6 bot from the main server and deleted the fake messages as well. However, the official Twitter account of the project warned that many users might still see the fake message until they restart their Discord. 2/ The announcements have been deleted but some users may still see the message until they restart their Disco...
Why decentralized messaging apps will replace today’s social media platforms
The Russian government has cracked down on foreign social media platforms such as Instagram, Facebook and Twitter, banning them for extremist activists. For protestors, activists and local civilians, these actions have resulted in a significant barrier to communication with the outside world. Furthermore, they have also raised the question of just how easy of a target these apps are for state authorities. With citizens unable to access these platforms, they have little choice but to flee to the next-best still active platforms. However, it isn’t just Russian activists who have taken to alternatives. Consider, for example, Telegram, a cloud-based instant messaging service that has quickly become a place for sharing war footage and other content that may have otherwise been blocked on ...
Tally Labs strive to expand decentralized content ecosystem with $12M funding
Tally Labs, a Web3 media company that oversees the business operations and infrastructural software development of Jenkins the Valet — a fictional nonfungible token (NFT) project orientated around the life of a Bored Ape character — has announced a seed funding round to the value of $12 million. The company has pledged to utilize the funds to expand the intellectual property and commercialization of Jenkins the Valet to a broader spectrum of entertainment mediums, as well as hire for six newly-posted United States/remote job roles. The fund compiles a list of 19 investors, both venture capital and individual investors, who were consciously chosen for their wide-ranging expertise and knowledge, but crucially their affiliation with the principal values of Web3 and decentralized content creat...
Dutch regulator says crypto not yet suitable as means of payment or investment
A Dutch regulator stated that the crypto derivatives market should be restricted to wholesale trade. The reasons are not unfamiliar — lack of transparency, market manipulation and “other forms of criminal activity.” On May 12, the head of Capital Markets and Transparency Supervision at the Dutch Authority for Financial Markets (AFM), Paul-Willem van Gerwen, shared his opinion on the crypto derivatives trade at the Amsterdam Propriety Traders Managers Meeting. Van Gerwen highlighted, that despite (or perhaps because of) the market’s rising interest in crypto derivatives trading, the AFM “do regard such trade as entailing risks” and consider this market to be not as mature as the other derivatives markets. A specific problem arising from the volatility of the crypto products, according ...
Market strategist claims the crypto crash might be ‘good’ for the sector in the long term
The unprecedented fall of Terra (LUNA) and the algorithmic stable coin UST sent shockwaves across the whole crypto market The crash has given more voice to calls for regulation and investor protection The past few weeks have been turbulent for investors in the crypto space, with market movements creating margins never seen before. Investors have had to cut losses, not to mention being caught in fixes, unable to predict how the cryptocurrencies they track might perform upon trading. The heavy downturn has opened up discussions on the utility and market performance among industry experts. Bitcoin may hit a bottom of $12,000 during this current cycle In an interview with Stanberry Research, Gareth Soloway, the President of InTheMoneyStocks.com, dismissed the popular belief that Bitcoin f...
Ethereum’s popularity ‘a double-edged sword’ — a16z’s State of Crypto report
Crypto venture fund giant Andreessen Horowitz (a16z) has highlighted that development and demand on Ethereum is “unmatched” despite the network’s high transaction fees. The firm does warn, however, that its “popularity is also a double-edged sword” given Ethereum prioritizes decentralization over scaling, resulting in competing blockchains stealing market share with “promises of better performance and lower fees.” The comments came via a blog post introducing a16z’s 2022 “State of Crypto” report, with the firm’s data scientist Daren Matsuoka, head of protocol design and engineering Eddy Lazzarin, General Partner Chris Dixon, and head of content Robert Hackett all working together to provide five key takeaways from the study. Outside of Ethereum, the report focuses on topics such as Web3 de...
German BaFin official calls for ‘innovative’ EU-wide DeFi regulation
Birgit Rodolphe, an executive director at Germany’s Federal Financial Supervisory Authority (BaFin) has called for innovative and uniform regulation of the decentralized finance (DeFi) space throughout the European Union (EU). BaFin is Germany’s financial regulatory body responsible for regulating banks, insurance firms, and financial institutions including cryptocurrency companies. BaFin is the issuer of “crypto custody licenses,” a permit required for firms wanting to offer cryptocurrency services within Germany. In an article on BaFin’s website Rodolphe warned of the risks to consumers of the unregulated DeFi space and called for standardized regulatory considerations across EU member countries. Birgit Rodolphe, Executive Director Processing and Prevention of Money Laundering at B...
Analysts note parallels with March 2020: Will this time be different?
Analysts in both crypto and traditional markets have noted some startling similarities between the recent downturn and the one caused by a pandemic panic in March, 2020. The real question is whether it’s the start of a larger downturn or if there will be a significant bounce-back as in 2020 that led to an extended bull run in both crypto and stocks markets. Podcaster and author of The Pomp Letter, Anthony “Pomp” Pompliano is on the permabull side of the ledger, tweeting on May 18 that since March 1, 2020 when one Bitcoin cost about $8,545, “Bitcoin is up 340%.” Bitcoin is up 340% since March 1, 2020. As central banks around the world devalued their currencies at a historic rate, there is only one asset that stood out from the pack.#bitcoin is the savings technology that shields billions of...
Cloudflare to run Ethereum node experiment to help ‘build a better internet’
Ahead of Ethereum’s highly anticipated switch to proof-of-stake (PoS), cyber security firm Cloudflare is set to launch and fully stake Ethereum validator nodes over the next few months. It aims to study energy efficiency, consistency management, and network speed of the PoS network as part of its commitment to environmental sustainability and to help “build a better internet.” Cloudflare was founded in 2010 and provides web security services such as distributed denial-of-service (DDoS) mitigation to protect clients from DDoS attacks. Cloudflare said it was experimenting with the “next generation of Web3 networks that are embracing proof of stake,” with Ethereum being the first in line for the company. At this stage, it appears the Merge and transition to a PoS consensus mechani...
Coinshift Closes $15 Million Series A Led by Tiger Global, Sequoia Capital India, Alameda Ventures
Sheridan, United States, 17th May, 2022, Chainwire Cash management company announces roadmap to build cutting-edge multichain treasury infrastructure for Web3 Coinshift, leading treasury management and infrastructure platform that enables DAOs and crypto businesses to manage cash reserves, announced its $15 million series A funding round and its roadmap for building a novel full-service treasury management solution in the industry. The series A funding round is led by Tiger Global and joined by Sequoia Capital India, Ryan Hoover (Founder of Product Hunt and the Weekend Fund), Alameda Ventures, Spartan Group, Ethereal Ventures, Alpha Wave Capital, Hash key Capital, Quiet Capital, Polygon Studios, Volt Capital and 300 and more angels and operators in crypto and fintech. Coinshift has u...
