Crypto Industry Leaders Establish Washington-Based Lobby Group 2335

A group of U.S.-based blockchain and crypto companies have announced they will form the Blockchain Association, the “first” lobbying group representing the blockchain industry in Washington D.C., the Washington Post reported September 11.

The Blockchain Association is comprised of industry leaders such as crypto exchange Coinbase, technology startup Protocol Labs, as well as the Digital Currency Group and Polychain Capital. The lobbying organization will reportedly be located in Washington, representing entrepreneurs and investors who are engaged in blockchain-powered projects.

The Blockchain Association will represent mainstream companies that look to operate within the political system, primarily addressing policy issues and the treatment of cryptocurrency by U.S. tax law.

At the same time, the group will work closely with lawmakers on anti-money laundering (AML) and Know Your Customer (KYC) policy development within the industry. Mike Lempres, Coinbase’s Chief Legal and Risk Officer, further explained:

“The Blockchain Association is an effort to get the preeminent companies in the space together so [policymakers] know they’re hearing from companies that welcome regulation when it’s appropriate. We’re not companies looking to game the system, but trying to develop a legal and regulatory system that’ll stand the test of time.”

Jerry Brito, executive director of the non-profit research and advocacy group Coin Center, reportedly said that the rise of a purpose-specific trade group shows the industry is maturing.

In July, Coinbase created its own political action committee (PAC) to raise money to spend on U.S. elections. In the U.S., PACs are organizations that pool campaign contributions from members with similar policy and political goals and subsequently donate them to political campaigns for or against candidates, legislation, or ballot initiatives.

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Web3: Crypto and NFTs are Not Dead – They’re Just Getting Started 2838

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It’s no secret that the cryptocurrency boom of the last few years has currently ground to a halt and there are many critical voices which are already trying to put the nail in the coffin of Bitcoin and other cryptocurrencies. However, we are here to let you know that cryptocurrencies and every other blockchain-based technology are here to stay, and they are all part of a bigger picture that you need to understand in order to future-proof your technology and your revenue model. This bigger picture is Web3.

What is Web3?

Web3 is quite simply the next step in the evolution of the internet. When the internet started with only a few web-pages, those were essentially mostly static pages with text and images, made only to transmit information; this was Web1, or the “read-only web”. Web2 was the next generation of the internet, based on interactivity, social-media, and all in all user generated content, catered for the user experience. The major drawback that emerged of Web2 was that this gave the power to hold data to big companies, massing the power and knowledge on the internet to only a few major companies, now commonly known as the FAANG (Facebook, Amazon, Apple, Netflix, Google). Web3 is the next meta of the internet, the new way of modeling interactions on the web in a decentralized manner, giving the power over their own data back to the users, without needing a middle man, such as a big company to do so.

Our company, Plavno, is one of the backbones at the origins of WEB3 and has worked with giants from all industries, such as Mercedes-Benz or BelVeb Bank to provide technology development solutions. The Web3 subject is somewhat of a hot potato, with many skeptics singing its demise before it has even become mainstream, but being an early adopter on revolutionary technology is never easy. What we can be sure of, is that innovators always have an upper hand in their vision for the future, which is why Plavno has always sought to implement future-proof technology and business models. This is why even the biggest market giants trusted us to thrust their solutions into the future, and why you shouldn’t sleep on Web3 and the opportunities it brings!

How does Web3 revolutionize the internet?

Web3 quite simply aims to revolutionize the internet by decentralizing the interactions between people and businesses on the internet. It all starts with blockchain, a decentralized safe model of sharing data on the internet. This data is now no longer hosted centrally on one server administered by a big company, but is now hosted and verifiable over a number of different sources, the users. This decentralized model means that, on the one hand, users no longer rely on big companies to host their data and, on the other hand, they gain control over their own data. This applies to a myriad of fields: instead of making fiat payments that go through banks, payment processors and administrators, you can now make instant cryptocurrency payments, verifiable on the blockchain and without the need to pay any middle men and companies. Instead of buying art and tickets from retailers that monopolize the market (such as the famous case of Ticketmaster), one can now go and buy new forms of digital art, such as NFTs (non-fungible tokens) directly from the artists, including tickets and virtual experiences, such as VR events and content. Instead of using storage from big companies like Google Drive or Microsoft OneDrive, you can use decentralized storage solutions that split your data over multiple sources so that if one fails, you always have the guarantee of many others. Web3 is all about giving power and control back to the users over their own data, their modes of payment, their content, and their creations.

How can you make money on Web3?

Making money has never been easier than on Web3. From a business perspective, entrepreneurs and even just individuals can start their own businesses, monetize their own skills and provide services using the Web 3 model. You can now create your own e-commerce business based on blockchain technology, eliminating the need to pay fees to a third-party company or to create your own website in which the commercial relationship is trust-based. There is no need to question the trust between the buyer and the seller if the contract is decentralized and carried out using immutable automated codes, such as smart contracts. You can then enhance your commerce business by adding NFTs, services driven by AI, safe identity management with customer authentication mechanisms that are  of unprecedented safety compared to Web2 standards. Even if you are not entrepreneurially-minded and want a more standard job, Web3 companies are currently the place to be; creating future-proof products with cutting-edge technology, a very liberal remote-based model and new benefits such as tokens, bonuses, a fast-tracked career progression, as opposed to the slow hierarchical tedium of large companies where you cannot personally make a difference. Finally, you can choose the path of creating your own cryptocurrency startup or marketplace, which is exactly what we help our clients do.

How to create your Web3 business or Web3-proof your company?

Plavno has unprecedented experience in creating Web3 IT solutions. On our last project, we helped our client save more than $400k in initial investments on the launch of a crypto-startup which reached more than 1 million onboarded users in the first year. How do we do this? The secret is in our dedicated software development team. Plavno has 14 years of experience in the field of dedicated software development. Our teams create Web3 software solutions from scratch, dedicated to each client’s needs. And it’s not only the technology that is future-proof, but also all the aspects of the business model: Plavno works on the basis of outstaffing and outsourcing projects, so that solutions can be created remotely and efficiently, taking full advantage of technical advancements in workflow solutions. We use the SAFe methodology to ensure that our work is always transparent and clear to the client, that their needs are met, and that ongoing support is provided after the finalization of the project. For us, a finished project is just the beginning!

With the emphasis on speed that today’s markets require, you would be tempted to go for out-of-the-box systems to implement your ideas. However, this quickly turns into an unsustainable solution. With a dedicated software team, you can make sure that your own solutions are implemented naturally, that you can create an ecosystem between your hardware and software, as well as sustaining the tokenized decentralized economy. By using ready-at-hand solutions, your project encounters problems such as the impossibility to turn your requirements into a final technical product, delays and additional costs in integrating third-party systems, and an overall unreliability in case your system suffers a breakdown or needs updates. By using our technicians, we can establish a long-term reliable software development partnership and make sure that your crypto marketplace is always functioning, updated with new features and most importantly, Web3 future-proof.

Join us now!

That’s the surefire way to get onto the next generation of the internet before all the skeptics and to make sure that when Web3 becomes mainstream, your business, and your ways of making revenue are already well-established and well ahead! Join us now and let us begin our Web3 journey!

Multichain is one year old 3214

Multichain has been a multi-chain industry pioneer and has devoted itself to delivering industry-leading cross-chain services to users since its inception. Anyswap started as a DEX protocol in July 2020. As cross-chain interoperability technologies improved, we realized that Anyswap could deliver more to its community by addressing the growing demand for protocols specializing in cross-chain interaction.

To solidify our commitment to delivering the community’s needs, we officially rebranded to Multichain on this day last year. Since then, we have been the leading driver of the cross-chain economy. With over $90 billion on TVL across 3000+ bridges, we are proud to reach this milestone and incredibly thankful to you for supporting us along the way. So, for our first anniversary as Multichain, let’s look back at what we accomplished in the past year and what lies ahead for us and the multi-chain industry.

A look back at Multichain

Q1 – Our numbers proliferated

The Multichain ecosystem expanded rapidly in Q1. We did a 700% increase in TVL and incorporated about 600 new bridges spanning 39 public blockchains. In addition, we perfected our bridges to improve their conversion logic and transaction time and upgraded our router contracts to improve the developer experience.

We also introduced two new services, an upgradedNFT router – enabled the cross-chain transfer of NFTs via anyCall, and Co-mint – Which addressed liquidity fragmentation in Defi by allowing multiple bridges to mint the same asset, like stablecoins pegged to a common underlying.

Q2 – We pioneered generic cross-chain messaging

Even when the crypto community was hawkish with the bear market in full swing, it didn’t stop us from innovating and growing. For example, Multichain serviced $83.3 billion in cross-chain bridge requests, which accounted for about 40% of the total third-parge market share.

Q2 also marked the official launch of one of our most revered projects – anyCall, an infrastructure of generic cross-chain communication. anyCall enabled seamless cross-chain composability of smart contracts. Curve finance was one of the first protocols to adopt anyCall. In addition, Multichain also launched the fastMPC testnet in Q2, which opened the Multichain MPC network for open participation, further decentralizing the network.

Q3 – We transcended into a DAO

By Q3, Multichain had grown to support about 2891 bridges serving 739,000+ active users. Together, the Multichain community accounted for 49% of all cross-chain activity in Defi. We further perfected the anyCall protocol to V7, which introduced a fallback function to support innovative Dapps. Q3 also witnessed the mainnet launch of the fastMPC network for the public. Then, Multichain also transcended into the MultiDAO, an open community of contributors who could participate in governance and steer the direction of the community towards growth.

Q4 – We made many optimizations

Q4 was all about optimization and focusing on the fine details. We continued being one of the leading cross-chain solutions in demand in Web3. We realized the demands of our valued users and optimized our bridge fee policy. We also lowered the bridge fees charged for mainstream tokens and networks.

What sets us apart

Competitive pricing and a robust ecosystem

Multichain charges one of the lowest cross-chain fees among leading interoperability protocols. Furthermore, the Multichain network is one of the fastest cross-chain protocols in the market, without any compromise in security.

Extensive non-Evm network

Many cross-chain interoperability protocols connect EVM-EVM blockchains, but few (if any) expand across a wide range of non-EVM environments like Multichain, which connects Bitcoin, Near, OnXRP, Aptos, Mintme mainnets, and working on Cardano, Stellar, Flow, Solana testnets already.

Industry trends to look out for in ’23

This year was the age of layer-2s; projects like Arbitrum and Optimism saw a surge in demand and innovation, which stems from the fact that the growing crypto adoption has rendered layer-1s very expensive for standalone transactions. This trend is likely to follow next year as well, and we might see Ethereum being used more as a settlement layer for other blockchains, where high throughput execution is achievable.

Another trend that took off this year was the rising popularity of appchains and blockchain sovereignty. Appchains are blockchains built for one specific use case. Sovereign blockchains build on ecosystem protocols like Cosmos and Polkadot, which take up base layer overheads and help steer innovations toward execution and application.

Regardless of appchains or layer-2s taking the forefront next year, the undeniable fact is that both these paths lead to more demand for cross-chain sharing of information and resources. Therefore, the coming years will require cross-chain protocols to be more flexible with adopting new blockchain environments and decentralized applications.

What will we work on for ’23

Multichain is dedicated to addressing the needs of the cross-chain industry and understands the technological shifts it needs to adopt to deliver them. Therefore, we have some exciting innovations for the cross-chain community for the following year.

Let us share one such innovation. We call it Omni-Blockchain Interaction (OBI). OBI is a blockchain-agnostic cross-chain communication solution stack that appchain developers can use as a base infrastructure to seamlessly build customized cross-chain connection channels without the hassle of implementing trust and verification mechanisms from scratch.

The OBI stack includes 

  • Dapp layer – It will house the cross-chain NFT/token bridges and routers.
  • Data layer – It comprises anyCall, which can communicate arbitrary information across blockchains.
  • The underlying trust layer – A decentralized protocol for cross-chain public trust mechanism, which verifies and authenticates data based on MPC and ZK technologies, the base infrastructure that third-party developers can build upon.

Multichain realizes the potential of novel technologies like zk-proofs in delivering scalable and secure performance. We believe that the concept of zero knowledge also has applications in the cross-chain economy. In ’23, we will work on zk-proofs-based routers, more information will soon follow.

Lastly, one of our primary initiatives for the coming year will be to collaborate with partners and other Web3 communities to educate the users in the industry about the benefits and potential of cross-chain communication.

Thank you for the support

Like any other decentralized project in Web3, Multichain’s success is credited to the continuous love and support we have received during difficult and good times. We thank the Multichain community for having confidence in us since our inception; it inspires us to deliver more in the times to come.

Japanese Game Giant GREE to Run Nodes on Polygon 3950

BLRD, Pte Ltd (Headquartered in Singapore, President: Eiji Araki, a wholly owned subsidiary of GREE Inc, hereinafter “BLRD”) has started to operate validator nodes on Polygon.

BLRD is a company established by GREE in Singapore for the purpose of promoting its Web3 business. Utilizing the experience cultivated at the GREE Group, the company is promoting the operation of validator nodes for the Oasys and Avalanche blockchains and the development of blockchain games. BLRD has been investigating ones suitable for game offerings and has been selected to operate as a validator for the Polygon network, which has a limit of only 100 validators.

Going forward, BLRD will contribute to the performance, security, and decentralization of the network as one of the validators that make up the Polygon network.

If anyone is interested in delegating* BLRD’s validator nodes, please see below.

https://staking.polygon.technology/validators/100

BLRD will continue to develop services that many customers will enjoy for a long time through collaboration with many blockchain companies and entertainment including new games.

*Deposit your crypto currencies into the validator nodes and delegate the work.

About Polygon

Polygon is the leading platform for Ethereum scaling and infrastructure development, providing L2 solutions like ZK and optimistic rollups, sidechains, hybrid solutions, stand-alone and enterprise chains, data availability solutions, and more.

About GREE

Originally founded as the operator of a social network, GREE quickly emerged as one of Japan’s mobile Internet pioneers, developing the world’s first mobile social game. Today GREE continues to diversify as a technology company with a range of businesses including mobile games and anime, metaverse,commerce, DX, manga, and investment.

It has been almost 15 years since we started our game business, and it is still going well, with our 2022 title “Heaven Burn Red” (Planning and production by Wright Flyer Studios × Key) awarded by Google Play as the best game of 2022. Our non-game business is also doing well, with our Metaverse “REALITY” surpassing 10 million downloads worldwide this October.

About BLRD

BLRD is a new wholly owned subsidiary established in Singapore in July 2022. It operates three businesses in the blockchain domain. They are gaming, validation and investment. We will provide new entertainment services on the blockchain by leveraging the GREE Group’s experience to date.

https://blrd.inc/
https://twitter.com/HelloBLRD

Chainlink Automation is Now Live on Arbitrum One 4387

Chainlink, the most widely used oracle services provider, and Arbitrum, the most widely used Layer 2 scaling solution for Ethereum dApp development, have today announced the launch of Chainlink Automation on Arbitrum One. A number of projects including COTI and Armadillo, Cask, and DeFiEdge, are already integrating Chainlink Automation into their dApps to reliably trigger key smart contract functions on Arbitrum One.

Chainlink has helped drive the rapid growth of the DeFi ecosystem on Arbitrum One. Now, with the launch of Chainlink Automation on Arbitrum One, developers have access to the reliable and performant automation needed to build advanced dApps by leveraging a decentralized network of nodes that monitor smart contracts and then execute functions using Chainlink’s battle-tested transaction manager, which takes care of nonce-management, gas spikes, and network re-orgs.

“We’re excited to support the Arbitrum ecosystem with the native integration of Chainlink Automation, enabling developers to build highly scalable and low-cost smart contract applications that are automated end to end,” said Niki Ariyasinghe, Head of Blockchain Partnerships at Chainlink Labs. “With the enhanced uptime and security guarantees provided by Chainlink Automation, Arbitrum developers can build the next generation of decentralized applications and help reliably scale the Web3 ecosystem.”

Arbitrum One is an optimistic rollup for Ethereum that powers high-throughput, low-cost dApps. Chainlink Automation is a smart contract automation solution that is now available on the Arbitrum network for all developers and dApps. By combining Chainlink’s reliable blockchain automation solution with Arbitrum One’s layer-2 ecosystem, developers now have the ability to build advanced, feature-rich dApps that can scale at an ever lower cost.

“DeFi apps have experienced tremendous growth on the Arbitrum One, which allows them to scale in a secure manner,” said A.J. Warner, Chief Strategy Officer of Offchain Labs. “Similarly, Chainlink Automation helps dApps reliably scale by enabling them to automate DevOps and maintenance tasks without having to rely on centralized scripts or worry about single points of failure.”

In August, 2021, a number of Chainlink Price Feeds went live on Arbitrum One, giving DeFi applications access to high quality financial market data directly on-chain.

About Chainlink

Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains.

Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link.

About Offchain Labs

Offchain Labs is a venture-backed and Princeton-founded company that is developing Arbitrum, a suite of scaling technologies for Ethereum. Arbitrum is the leading scaling provider for Ethereum and has two live chains — Arbitrum One, the scaling solution of choice for DeFi and NFTs and Arbitrum Nova, the newly announced gaming and social platform. Arbitrum’s technology instantly scales apps, reducing costs and increasing capacity, without sacrificing Ethereum’s security. Porting contracts to Arbitrum requires no code changes or downloads as Arbitrum is fully compatible with most existing Ethereum developer tooling. Hundreds of teams have already chosen to build in the Arbitrum ecosystem.

ParaSpace Launches The First Cross-Margin Lending Protocol for NFT and Fungible Tokens 4730

ParaSpace launched a first-of-its-kind cross-margin lending platform today. With the recent rise in NFT lending and borrowing, users have seen an increased liquidation downtrend spiral, ParaSpace serves as a solution for users in the space.

ParaSpace is founded by Yubo Ruan and backed by Sequoia Capital, CoinBase Ventures, Founders Fund and others. The platform leverages a cross-margin framework that enables a peer-to-pool lending system that enhances liquidity and capital efficiency. For the first time ever, users and NFT holders can collateralize multiple assets into one portfolio to lend and borrow against while being able to hedge their risk.

“We believe in a future where NFT assets proliferate with different kinds of utility, applications, and especially the connection to real-world assets. Our vision is to create a decentralized cross-margin lending protocol with support for a wide variety of both fungible and non-fungible assets extending into the real world,” said Ruan, founder and CEO of ParaSpace. “For NFT finance to be usable, users need to be able to hedge their risk and have flexibility on what assets they can borrow against and on what terms.”

ParaSpace is a fully decentralized and permissionless protocol built on Ethereum. Currently, the platform supports a wide range of fungible tokens including BTC, ETH, DAI, USDC, and APE in addition to existing blue chip NFT collections. To build capital efficiency across crypto space, ParaSpace plans to support cross-chain lending and borrowing for EVM-compatible or equivalent blockchains in the future.

To celebrate the launch of the platform, ParaSpace is hosting an APE Coin Staking Fest, to empower Bored Ape NFT and APE holders to hit the maximum returns for staking APE. ParaSpace’s APE Coin Staking Fest will allow users to borrow APE at reduced rates, participate in referral programs, and qualify for their APE airdrop, which will be giving away up to $250,000 worth of APE.

Ultimately, ParaSpace acts as a permissionless and highly customizable infrastructure to solve many unmet needs in efficient use of on-chain capital. ParaSpace seeks to redefine NFT finance to bring web3 and decentralized lending to 1 billion people.

For additional information on ParaSpace, please visit para.space.

Numen Cyber working with Binance ​​to further enhance security of the Web3 ecosystem 4525

Numen Cyber Technology, a Singapore-based cybersecurity company specializing in Web3 security solutions, recently announced that it is cooperating with Binance, the world’s leading blockchain ecosystem. As part of the technical cooperation, Numen will work with Binance to further bolster the security of the Binance ecosystem.

Numen will provide security capabilities for the Binance ecosystem across various areas, including conducting smart contract audits of on-chain projects. Binance will also leverage Numen’s expertise in threat detection and response, as well as its security event analysis and backtracking, to prevent potential economic losses caused by security attacks.

Furthermore, both companies will conduct Web3 security research aimed at functionally improving the security levels of Binance and its related projects to eliminate any potential security risks and vulnerabilities within its ecosystem.

As the Web3 threat landscape rapidly evolves, the technical cooperation between Binance and Numen is intended to continue to strengthen the security of the Binance ecosystem and help to restore the public’s confidence in the safety of the Web3 industry.

About Numen Cyber

Numen Cyber Technology is a Singapore-based cybersecurity company specializing in Web3 security solutions. The organization has discovered critical vulnerabilities in some of the world’s most well-known Web3 projects, including Aptos, Sui, Eos, Ripple and Tron.

With its Cyber Labs team comprising the world’s top security experts, it offers Web3 security services that can comprehensively cover all stages of a Web3 project’s lifecycle, such as security audits for smart contracts, public blockchains, smart wallets and exchanges.

Numen also offers on-chain smart contract threat detection and response, Web3 security situational awareness, digital currency tracing and Web3 threat intelligence to protect the digital asset security of Web3 projects and their users.

For more information, please visit numencyber.com or follow its official Twitter account at twitter.com/numencyber.