ZIGChain’s ecosystem fund is backed by DWF Labs.
Blockchain Developer Monad Labs Raises $225M Led by Paradigm
The company is looking to offer an Ethereum-compatible environment that’s faster than the original.
Blockchain Developer Cronos Labs Kicks Off Search for Participants in $100M Accelerator Program
Cronos Labs has also signed up Google Cloud, Amazon Web Services and blockchain security specialists PeckShield and Certik as mentors for the program.
Crypto Bridging Protocol Multichain Ceases Operations After CEO, Sister Detained in China
Multichain said it has been forced to take the action “due to lack of alternative sources of information and corresponding operational funds.”
$30B stolen from crypto ecosystem since 2012: Report
The stolen amount represents nearly 3% of the current market cap of listed cryptocurrencies.
Distributed ledger tech could save TradFi $100B a year: Lobby group
A new report from the Global Financial Markets Association says regulators need to take distributed ledger technology more seriously.
A16z Says It’s Working on an Optimism-Based Rollup Called Magi
The news comes a day after the firm teased a potential blockchain announcement by tweeting an orange dot.
Sui Foundation Appoints Managing Director to Increase Awareness, Growth of the Blockchain
Greg Siourounis will lead efforts to promote Sui’s user base growth and development.
Ethereum Usage Will Drop If the Blockchain Doesn’t Boost Speed: Bank of America
The network’s early success was a double-edged sword as the large number of transactions resulted in network congestion and rising transaction fees, the report said.
Next Evolution of Blockchain Software Has Only Just Begun: Bank of America
Protocols like Near, Polkadot and Cardano are using new approaches to improving the tradeoff between scalability, decentralization and security, the report said.
Solana Blockchain Well Positioned to Reassert Itself as a Genuine Layer 1 Competitor: Coinbase
The fundamental value proposition of the Solana protocol persists from a technical perspective, the report said.
Arbitrum’s User Base Is Fastest Growing Among Leading Blockchains: Bernstein
It is the only blockchain where liquidity locked is growing, the report said.
Will New Interchain Station Wallet Launch Spike LUNC Price, Any Possibility?
After the collapse of the popular blockchain network Terra, developers have been trying to revive it; many reforms have already taken place to sustain the Terra Classic (LUNC and prevent further collapse). Terra Classic, the original blockchain, was forked to create Terra (LUNA).
Among these reforms is a recent integration with Interchain Station. The news boosted the Terra Classic (LUNC) price. According to Jared, lead developer at Terraform Labs, more integrations and reforms are coming to Terra soon.
The sudden crash of Terra LUNA sent a cascade effect across the crypto industry, leading several firms to bankruptcy. Many investors are yet to recover from the loss incurred from the Terra implosion.
There are still uncleared controversies surrounding the ecosystem’s sudden collapse. Some say Terra LUNA was a rug pull scheme by Do Kwon, founder of Terraform Labs, to launder and steal people’s money. Meanwhile, Do Kwon and his executives are still on the run from South Korean prosecutors.
More Integrations Coming To Terra Classic Network
In a Twitter announcement, Jared revealed that the Terra Network would partner with other blockchains, including SEI, Juno, Osmosis, Mars, Pisco, and many more. He said the integrations aim to protect the network in the right direction and allow seamless cross-chain communication between Terra and other blockchains.
Jared also told the Terra community to expect a rollout of more features while their main focus is to launch the wallet on mobile devices. The current station supports many mainnets including LUNC, LUNA, Osmosis, Juno, Kujira, Carbon, HuaHua, and Cresent.
Terra’s interchain station wallet would simplify the complex process of interacting with multiple blockchain networks. The wallet would allow users to stake, vote, send, receive tokens, and interact with decentralized applications (dApps) across supported chains.
LUNC price soared by 3% on January 10 when Jared first shared news of the interchain wallet feature via his Twitter handle. Jared referred to the development as a breakthrough in chain integrations.
This move comes after several attempts by the Terra Classic community to revive the sinking Terra Classic project. With the new station wallet, DeFi developers can now access oracle data from several chains through the interchain facility.
Why New Governance Implementation Is Important To LUNC Community
The Terra Classic blockchain saw a rough start in 2023 after being impacted by crypto exchange KuCoin’s December 30 move. On December 30, 2022, KuCoin removed (undelegated) 48 billion Terra Classic (LUNC) tokens from circulation. This issue reduced the voting power of KuCoin’s Terra Classic Validator by 0.25%, taking it up to the 44th position.
The exchange later said it would continue pledging LUNC tokens after a 14-day lock period. However, the move caused a drastic reduction in on-chain activity and stirred much anxiety in the LUNC community, causing the price to fall.
After Kucoin’s move, the community responded by approving and implementing new governance proposals to improve the overall operation of the chain. The Terra ecosystem also started burning tokens to stir up on-chain activity.
The new governance proposals got overwhelming votes from the community with the support of major crypto exchanges. As a result, one of the new implementations is governance proposal 11242, which aims to stop the reminting of already destroyed LUNC tokens.
Once the implementation is complete, it will ensure the effective elimination of tokens from LUNC’s circulating supply which will also boost its price. Presently, the amount of Terra Classic tokens in circulation is nearly 6 trillion.
After the reduction in on-chain activity in the past month, the developers published proposal 11242 at the beginning of January. The aim of proposal 11242 is to stop the reminting burnt LUNC tokens and effectively reduce the seigniorage reward policy to zero.
LUNC price is trading at $0.000177 with a minor decline. The token has gained up to 15.50% in the past week.
Polkadot: How parachains are changing a blockchain-centric ecosystem
Parity chief marketing officer Peter Ruchatz discusses the ins and outs of Polkadot’s focus on interoperability at Token2049.
Institutional investment flows out of ETH and into competing L1 altcoins
Analysis from CoinShares shows investors favored smaller altcoins last week as capital outflows for Ethereum hit $17 million.
Free Transactions Invite Systemic Attacks on Blockchains, Researchers Find
EOS, Tezos and XRP have not seen high levels of intended use, according to a new report from researchers in London.
Steem Fork Faces Legal Threat From Mining Firm Over ‘Hive’ Name
A new blockchain called Hive is being told it needs to change its name just days after it was created in a fork from Steem.
Crypto Exchange Huobi’s DeFi-Focused Blockchain Released in Public Beta
The exchange is eyeing use cases for its tech across areas such as tokenized asset issuance, payments, identity verification and lending.
JPMorgan Spinoff Kadena Launches Public Blockchain, Integrates Wallet to Cosmos Network
Kadena, a startup spun out of JPMorgan’s blockchain center, has taken a step toward its vision of creating interoperable, scalable public blockchains with a full launch Wednesday.
Libra White Paper Shows How Facebook Borrowed From Bitcoin and Ethereum
Cryptocurrency, at scale. That’s Facebook’s vision as laid out in the long-awaited, just-released Libra white paper.