Browsing:Blockchain News

Uniswap Labs has announced the introduction of a new mobile wallet
1 year ago 1 min read

Uniswap Labs Introduces New Crypto Wallet But iOS Launch Halted by Apple

Uniswap Labs, the development team behind the popular cryptocurrency exchange Uniswap (UNI), has announced the introduction of a new mobile wallet. However, the launch of the wallet on Apple’s iOS platform has been halted, with the tech giant yet to approve it. In a statement, Uniswap Labs revealed that it has submitted its mobile app for iOS months ago and that it is 100% compliant with Apple’s specifications. Despite this, the launch of the wallet on iOS is currently “in limbo” as Apple has not given the green light. Uniswap Labs is now offering a limited early release of the

Aave and Polygon in Governance Talks for Aave's Deployment on Polygon's zkEVM Mainnet
1 year ago 1 min read

Aave Initiates Governance Talks to Launch on Upcoming Polygon zkEVM Mainnet

Decentralized lending protocol Aave is exploring the possibility of deploying an MVP version of Aave version 3 on Polygon’s upcoming zkEVM Layer 2 network. The main aim of the proposal is to establish a strategic Aave presence on the new network early on, after the mainnet beta goes live on March 27. To minimize risks, the proposal recommends onboarding only a limited number of assets and setting conservative risk parameters. It suggests onboarding only three collateral types, including wrapped ETH (WETH) and wrapped MATIC (WMATIC) tokens, as well as USDC stablecoin. Additionally, it proposes including only one borrowable asset, the

Introducing Polygon's Zero-Knowledge Identity Verification Tool
1 year ago 1 min read

Polygon Launches Zero-Knowledge Identity Verification System

Polygon, a blockchain company that specializes in scaling systems for Ethereum, has launched a new zero-knowledge (ZK) technology-based identification tool called Polygon ID. The company has created the tool to help users verify their identities and credentials without revealing sensitive information. Zero-knowledge technology is a form of cryptography that eliminates the need for users to provide personal information routinely to different online applications or websites. This development has been seen as a significant use case for blockchains for quite some time. Polygon ID’s design ensures that identity holders have claims stored in their wallets, while verifiable credentials are cryptographically signed

Solana Outage Spurs Network Upgrade Proposal to Improve Stability
1 year ago 1 min read

Solana Network Proposes Upgrades to Address Recent Outage

Solana, a popular blockchain network, is taking steps to improve its network reliability following a significant outage that occurred on February 25. This outage lasted close to 20 hours and was the first interruption of service to occur in 2022. However, the network has faced 11 major outages and 3 minor ones, leading to a reputation for poor network reliability. Anatoly Yakovenko, co-founder of Solana, stated that last week’s outage was related to the 1.14 network update, which was meant to bring speed and scale improvements. However, the rollout of the update triggered significant network degradation, and the cause is

Huawei Cloud and Polygon blockchain
1 year ago 1 min read

Huawei Joins Forces with Blockchain Innovators to Pioneer Web3 Ecosystem

Huawei Cloud, the cloud computing arm of the Chinese smartphone maker Huawei Technologies Co., Ltd., has announced its partnership with Polygon and other blockchain firms to form a Web3 and metaverse alliance. The announcement was made at the company’s Asia-Pacific partner summit held in Bali, Indonesia, last week. As part of the partnership, Huawei Cloud will integrate blockchain into its cloud services, with Polygon, Deepbrain Chain, Morpheus Labs, and Blockchain Solutions being its Web3 partners. The company also unveiled its cloud-based Web3 solutions at the summit. Since launching its blockchain services in 2018, Huawei Cloud has been exploring the potential

The CEO of Solana Labs has rejected claims that the Solana network’s recent outages
1 year ago 1 min read

Solana CEO refutes allegations of on-chain voting causing network outages

Anatoly Yakovenko, the CEO of Solana Labs, has rejected claims that the Solana network’s recent outages were caused by a large volume of validator messages and on-chain voting clogging up its consensus layer. While the Solana Foundation has yet to identify the root cause of the 20-hour network outage, Yakovenko took to Twitter to dismiss the theory that the decision to include on-chain votes as transactions was a “massive design flaw.” He stated that the single giant quorum contributed to an exceptional level of security, high throughput, and low fees. While not disputing that the majority of Solana transactions comprise

The Ethereum blockchain is inching closer to its highly anticipated Shanghai upgrade
1 year ago 1 min read

Shanghai Hard Fork Simulated Successfully on Second Ethereum Testnet

The Ethereum blockchain is inching closer to its highly anticipated Shanghai upgrade, thanks to the successful replication of withdrawals of staked ether (ETH) on the Sepolia test network. The upgrade will mark Ethereum’s complete transition to a fully functional proof-of-stake network, which will enable validators to withdraw rewards earned from adding or approving blocks to the blockchain. The test on Sepolia was designed to provide developers with another dress rehearsal of the withdrawals that will happen on the main Ethereum blockchain. Testnets copy a main blockchain and allow developers to test any changes to their applications in a low-stakes environment.

Alchemy blockchain
1 year 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

SpankChain
1 year 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
1 year 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 year 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 year 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

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