Browsing:Blockchain News

Alchemy blockchain
4 weeks ago 1 min read

Alchemy Unveils Revolutionary Dapp Builder to Empower Web3 Developers

Alchemy has unveiled its Create Web3 Dapp (CW3D) platform to help bring more people into decentralized technologies. According to Elan Halpern, Product Manager at Alchemy, the company’s mission is to bring blockchain, or Web3 to a billion people by empowering developers. For Halpern, the key to bringing Web3 to the masses is to get developers excited about creating the products that people will use. Launched in 2017, Alchemy is a blockchain software development company that builds applications across several chains, including Ethereum, Polygon, Arbitrum, and Optimism. In October 2021, the company raised $250 million in Series C funding, and in

4 weeks ago 1 min read

SpankChain Co-founder Hints at Tornado Cash Follow-up Involving Moloch DAO

Ameen Soleimani, the co-founder of SpankChain and Reflex Labs, has hinted at the potential revival of the controversial Ethereum transaction mixer, Tornado Cash. Soleimani’s tweet indicated the involvement of Moloch DAO, which provides grants for Ethereum project development. “I sincerely hope no one thought we were finished,” said Soleimani. Transaction mixing protocols like Tornado Cash use various techniques to obfuscate the origin of cryptocurrency, which has attracted widespread scrutiny from regulators. Last year, the U.S. Office of Foreign Assets Control accused Tornado Cash of enabling money laundering by North Korea-linked hacking group Lazarus. Tornado Cash developer Alexey Pertsev was arrested

Solana Network
4 weeks ago 1 min read

Solana Network Recovers with Second Round of Rebooting

Solana, the high-performance blockchain network, is back online after two attempts to restart the network. The issue occurred on February 25, 2023, causing transaction processing on the network to stop. However, after diligent work from the Solana engineers, the issue has been resolved, and the network is now fully operational. According to Solana Status, a monitoring site for the network, the fix occurred at 01:28 UTC. The engineers continued to monitor the network’s performance and reported that the issue was resolved at 02:09 UTC. This isn’t the first time Solana has experienced downtime. The network has faced several challenges in

Eclipse Bridges the Gap Between Solana and Polygon with Rollup Blockchain Release
1 month ago 1 min read

Eclipse Unveils Solana-Compatible Rollup Blockchain for Polygon Network Integration

Eclipse, a blockchain development firm, has announced the upcoming release of Polygon SVM, a new blockchain that is compatible with Solana and built for the Polygon network. The aim of this new blockchain is to enable Solana developers to migrate their applications to Polygon without having to rebuild their code for the Ethereum Virtual Machine (EVM). Polygon SVM, a sovereign rollup blockchain, will use SeaLevel Virtual Machine (SVM) to deploy Rust-based Solana applications on other blockchains. The Polygon SVM testnet is expected to launch in Q1 2023, with the mainnet set to follow in Q2. With Polygon SVM, Solana smart

Frax Finance stablecoin
1 month ago 1 min read

Frax Finance Plans to Move Away from Algorithmic Backing in Response to Stablecoin Regulations

Frax Finance, a decentralized finance stablecoin protocol, has announced that it will fully collateralize its native stablecoin, Frax (FRAX), ending the algorithmic backing of the protocol. The FIP-188 governance proposal, posted on February 15, has now reached a quorum with 98% voting in favor, according to a snapshot on February 23. The initial protocol included a “variable collateral ratio” that adjusted based on the market demand of the stablecoin. The hybrid model resulted in the stablecoin being 80% backed by crypto asset collateral and partially stabilized algorithmically. The new proposal plans to retain protocol revenue to fund the increased collateral

ConsenSys Strengthens Web3 Development Capabilities with Hal Acquisition
1 month ago 1 min read

ConsenSys Acquires Blockchain Notification Tool ‘Hal’ for Web3 Development

ConsenSys, the leading Ethereum development studio, has acquired Hal, a blockchain notification tool, to bolster its Web3 development capabilities. Hal’s technology allows users to create notifications for trading, governance voting, and tax compliance, among other things, by filtering through blockchain data. As part of the acquisition, more than 40 APIs for blockchain listening and signals will be added to ConsenSys’ popular Web3 connectivity layer, Infura. The APIs will make it easier to use tools like Infura for the evolving decentralized internet. The acquisition comes at an opportune time as the interest in lower-code and no-code tools has surged. Hal’s technology

Saudi Aramco dives in Web3
1 month ago 1 min read

Saudi Aramco Enters the World of Web3 Through Partnership with droppGroup

Saudi Aramco, the world’s largest oil producer, has signed a memorandum of understanding (MoU) with droppGroup to explore co-developing a range of Web3 technologies. The partnership aims to leverage blockchain technology to create innovative solutions for Aramco’s employees, including potential on-boarding, training ecosystems, tokenized networks, and rewards programs. The third generation of the internet, Web3, is driven by blockchain technology, and it has been gaining traction in various sectors, including finance, supply chain management, and social media. With the latest partnership, Saudi Aramco is joining a growing number of global corporations that are embracing blockchain technology to streamline operations, improve

Tezos welcomes Google Cloud as a validator for enhanced blockchain security
1 month ago 1 min read

Tezos blockchain network adds Google Cloud as validator

The Tezos Foundation has announced a new partnership with Google Cloud to accelerate the development of Web3 applications on the Tezos blockchain. The deal involves Google Cloud serving as a validator on the Tezos network, allowing its corporate clients to deploy and develop Web3 applications on the Tezos blockchain with the help of Google’s cloud infrastructure. As part of the partnership, select startups incubated by Tezos will also be eligible for Google Cloud credits and mentorship. Google Cloud will bring the dependability and scalability of its infrastructure to power Web3 applications on Tezos, said James Tromans, engineering director of Web3

Upcoming Shanghai Upgrade for Ethereum to be Tested on Sepolia Testnet
1 month ago 1 min read

Ethereum Developers Set to Test Shanghai Upgrade on Sepolia Testnet on Febeuary 28

The Ethereum blockchain, one of the most popular decentralized networks, is set to undergo an upgrade known as the Shanghai-Capella upgrade, or Shapella for short. The core developers of the blockchain have scheduled the launch of the upgrade on the Sepolia test network for February 28 at epoch 56832, according to an official announcement. The upgrade is primarily aimed at enabling ether (ETH) withdrawals from network validators, a feature that wasn’t enabled during the network’s transition to proof-of-stake consensus, called The Merge. The upgrade combines changes to the execution layer (Shanghai) and the consensus layer (Capella). Shanghai will upgrade the

Klaytn Foundation
1 month ago 1 min read

Klaytn Foundation Announces New Tokenomics and Governance Models for KLAY

Klaytn Foundation is making changes to the governance and token model of KLAY, the native token of the Klaytn blockchain. In a statement to CoinDesk, the Foundation announced plans to transition the network to a permissionless validator structure, enabling the public to participate as block validators and introducing a communication channel for community members to participate in decision-making processes. These changes are expected to improve Klaytn’s technical capabilities, revenue sustainability, and decentralization aspects while increasing the value of KLAY over time. The Foundation will work with the Klaytn Governance Council to implement these changes and promote projects based on their

Helium Network
1 month ago 1 min read

Solana to Host Helium Foundation’s Migration on March 27th

Helium Network, the blockchain-based decentralized wireless network provider, has announced a proposed date for its migration to the Solana blockchain. According to the Helium Foundation, the migration is scheduled for March 27, although the date is still tentative. In preparation for the migration, Helium is constituting an Upgrade Readiness Working Group, comprised of community volunteers who will be responsible for monitoring the migration process and choosing the final date for the migration. The migration is expected to take 24 hours, during which time Helium’s entire chain state, including accounts, tokens, and hotspots, will be moved to Solana. By migrating to

Russia has passed a bill in its State Duma to legalize the use of blockchain
1 month ago 1 min read

Russian Parliament Advances Blockchain Bill to Second Stage

Russia has passed a bill in its State Duma to legalize the use of blockchain technology for financial marketplaces, allowing participants to combine their operations with blockchain platforms. The bill, numbered 221502-8, was submitted by members of the parliament in October 2022 and passed the first reading. The bill will now move to the committee stage before becoming law. The regulation will open the door for new business models based on the digital transformation of financial services. This move comes as Russia works on launching a national cryptocurrency exchange and developing a gold-backed stablecoin in collaboration with Iran, signaling its