BLOCKCHAIN
Blockchains incorporate several important features such as immutability, encryption and distributed storage, which combined makes secure peer-to-peer transactions possible and in turn has created the means to end human dependence on credit and thus credit intermediaries. Due to these features, blockchain has been referred to as ‘the Trust Machine’ and is forecasted to transfer the trust from agencies and institutions which are enforced by law to machine-based networks guaranteed by technology and mathematics.
Snowtrace to End Etherscan-Powered Service by Nov 30
Snowtrace.io, a blockchain explorer for Avalanche C-Chain, will discontinue its Etherscan-powered explorer on November 30, 2023, due to high EaaS service costs. Users are advised to backup data and Ava Labs suggests a better solution transition.
Solana's SOL Price Predicted to Surpass $3000 in Bullish Scenario by 2030
VanEck's analysis suggests Solana could reach significant valuation by 2030 due to its technical innovations and user-focused applications. However, challenges like financial sustainability, technical stability, and developer adoption need to be addressed for this potential.
SEC Commissioner Expresses Dissent on LBRY Case Outcome
SEC Commissioner Hester M. Peirce criticizes the commission's enforcement action against blockchain firm LBRY, Inc., highlighting the case as an example of regulatory overreach that stifles innovation and fails to adequately protect investors. Amidst ongoing legal actions against crypto enterprises, Peirce's dissent underscores the need for a balanced regulatory approach to foster innovation and investor protection in the blockchain and crypto sectors.
dYdX Initiates Token Migration Following Layer-1 Blockchain Inception
Antonio Juliano, dYdX founder, has flagged an upcoming large-scale migration of locked $DYDX tokens to the dYdX Chain following its recent launch. This migration, strictly abiding by legal agreements, marks a significant phase in dYdX's transition to a layer-1 blockchain, amplifying the utility of DYDX tokens for staking and governance purposes.
Elliptic Debunks Claims of Substantial Crypto Funding to Hamas
Elliptic, a blockchain analytics firm, refuted claims of significant cryptocurrency funding to Hamas, following a wave of reports and a letter from US lawmakers to the White House. The firm highlighted the lack of substantial evidence supporting the alleged $130 million crypto funding between August 2021 and June 2023. Despite historical endeavors by Hamas to solicit crypto donations, recent analysis reveals that the amounts garnered remain minuscule compared to the figures cited in misinformed reports.
Vodafone DAB and Chainlink Labs Unveil Blockchain Solution to Streamline Global Trade
Vodafone's Digital Asset Broker and Chainlink Labs, in partnership with Sumitomo Corporation and InnoWave, have developed a proof of concept to improve the global trade ecosystem. The initiative aims to facilitate the seamless exchange of trade documents across various platforms and blockchains, reducing fragmentation and inefficiencies. The collaboration uses Chainlink's Cross-Chain Interoperability Protocol for security and interoperability, paving the way for smart contract, blockchain, and AI applications.
Citi Partners with World Bank on Euroclear's DLT Platform for Digitally Native Note Issuance
Citi's Issuer Services acted as the Issuing and Paying Agent for the first Digitally Native Note (DNN) issuance via Euroclear's D-FMI distributed ledger technology platform, marking a significant step in digital bond issuance and showcasing a scalable model for blockchain integration within existing capital market structures.
New Bitcoin Lightning Network Vulnerability Exposed: The Replacement Cycling Attack
A new vulnerability termed as "replacement cycling attack" on the Lightning Network has been unveiled by a developer known as mononaut. The attack manipulates the transaction mechanism of the network, potentially causing financial loss to users. This revelation has led to the resignation of security researcher Antoine Riard from the Lightning Network development team. Despite the challenges, the network's locked-in value stands at $159.5 million, indicating its growing popularity since 2018.
DTCC to Acquire Securrency, Advancing in Digital Asset Infrastructure
DTCC announces its strategic acquisition of digital asset infrastructure specialist, Securrency. This move will bolster DTCC's digital asset offerings and streamline the integration of blockchain technology.
Circle Introduces Gas Station and Smart Contract Platform to Streamline Web3 Development
Circle announces new Web3 services—Gas Station and Smart Contract Platform—to simplify blockchain development and lower costs. These user-centric solutions aim to accelerate the mass adoption of blockchain technologies.