Major Cryptocurrency Exchanges Halve Bitcoin Withdrawal Fees Due to SegWit 620

Some of the largest cryptocurrency exchanges in the global market including Binance and Kraken have halved bitcoin withdrawal fees due to the rising adoption of scaling solution and transaction malleability fix Segregated Witness (SegWit).

SegWit Adoption

Last week, Coinbase, a major bitcoin brokerage and wallet platform with over 12 million users, along with leading cryptocurrency exchange Bitfinex enabled SegWit and transaction batching, to significantly reduce bitcoin transaction fees and relieve congestion on the bitcoin blockchain network.

On February 23, Coinbase Vice President Dan Romero stated that the company will also focus on the development and integration of emerging technologies and second-layer solutions like Lightning.

“New technologies which require SegWit, like the Lightning Network, have the potential to significantly increase the usefulness of Bitcoin as a payment network and benefit customers. We currently have a dedicated full-time software engineer working on open source contributions to the Lightning Network,” said Romero.

Since then, the adoption of SegWit has risen from 13 percent to around 30 percent, by nearly 3-fold within a period of several days. As the largest bitcoin wallet platform in the world, Coinbase accounts for a large portion of bitcoin’s daily transaction volume. The integration of SegWit by Blockchain, the second largest bitcoin wallet platform in the market, is expected to increase SegWit adoption further, in the short-term.

Kraken and Binance

Binance, the biggest cryptocurrency exchange in the global market with a $1.9 billion daily trading volume, along with a major San Francisco-based cryptocurrency trading platform Kraken halved bitcoin withdrawal fees, due to the rapid adoption of SegWit and decreasing transaction fees.

On March 1, Kraken stated, “effective immediately, withdrawal fees on Bitcoin (XBT) are reduced to 0.0005, and withdrawal fees on Bitcoin Cash (BCH) are reduced to 0.0001.”

On March 2, following the path of Kraken, Binance announced, “Binance is happy to announce a 50 percent reduction in $BTC withdrawal fees. Effective immediately, BTC withdrawal fees are only 0.0005 BTC.”

If more cryptocurrency exchanges processing billions of dollars worth of trades on a daily basis continue to integrate SegWit and transaction batching, in the short-term, bitcoin transaction fees could drop substantially.

Although the fees of bitcoin could rise again as its price spikes after a long recovery and its transaction volume surges to its previous levels, SegWit and transaction batching are expected to work as short-term solutions, while developers and businesses seek towards integrating second-layer scaling solutions.

Peter Todd, a bitcoin developer and respected cryptography consultant, stated that the integration of Lightning could turn out to be too complex, and the current implementation of Lightning could be vulnerable to DoS attacks.

“As for the Lightning protocol, I’m willing to predict it’ll prove to be vulnerable to DoS attacks in its current incarnation, both at the P2P and blockchain level. While bad politics, focusing on centralized hub-and-spoke payment channels first would have been much simpler,” Todd wrote.

Hence, if developers and businesses continue to go down the path of Lightning to scale the Bitcoin network, it will require significant work by both the businesses and developers in the open-source community of bitcoin to practically implement Lightning.

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DegenDAO, one of the largest communities on Solana, launches on Only1 1601

Community is the heart of any nonfungible token (NFT) project. While most communities are built around an NFT collection, DegenDAO has been a high-functioning decentralized autonomous organization (DAO) since 2021, long before announcing its first NFT collection. With over 5 million messages sent in the past year alone in its Discord server (averaging 14,000 messages per day), the community has been continuing to grow since the DAO’s inception.

DegenDAO aims to launch a 5,555-NFT collection that will grant holders exclusive access to alpha calls and multisig treasury management, while 66% of the mint proceeds and 75% of the royalties will go to the DAO for the community to decide how it will be operated. If a project with a solid community is what you are after, look no further. DegenDAO is launching on Only1 on Jan. 27, 2023.

Only1 is the first social platform, backed by Animoca Brands, to enable creators to monetize on Web3 by issuing passes or a subscription model to gate content. Only1 also features a one-of-a-kind NFT launchpad that is 100% bot-free and fair.

The next big launch: DegenDAO

Launch details:

  • Launch date – Jan. 27, 2023, 12:00 UST
  • Supply – 5,555 DegenDAO NFTs
  • Launch method – Raffle ticket for allocation
  • Price per raffle ticket – $25 (whitelist), $40 (standard); prices will be in Solana 
  • NFT per winning ticket – 1 (losing tickets receive a full refund)
  • Max. ticket per wallet – 10

Note: More details to be announced — stay tuned on Only1’s or DegenDAO’s Twitter pages.

About DegenDAO

DegenDAO is a premier decentralized autonomous organization on Solana. DegenDAO is community-led by its semi-doxxed owner, Tominator, for which the purpose is to reward community members by providing in-the-moment and long-term investment advice on NFTs and crypto, a solid network of possible connections and friends, and developing other advantages to make being part of the community enjoyable, exciting and enticing.

Having been around since early December 2021 with ever-increasing trust from the community and a nearly nonprofit passionate founding team, trust is central to DegenDAO. There have been plentiful donations from the community to the DAO treasury, which pays callers and developers, including large lump sums from the owner himself — a clear testimony of the community’s strength. The goal of the project is simple yet potent. It is to create a fully and totally decentralized and democratic DAO, with a voting platform and a multisig treasury wallet controlling 66% of the mint proceeds and 75% of the royalties under the control of a council of seven members.

What happens with the treasury? What will the project attempt? What will the project become? That’s up to the democratic processes of the community. Meanwhile, every member of DegenDAO, every holder of its NFTs, can continue to benefit from the plentiful rewards they already receive as being a part of their incredible community.

About Only1

Only1 is a Web3 social platform where creators earn, backed by Animoca Brands. Launching digital collectibles to gate access is a new and growing use case, but it is expensive, takes weeks and is difficult. Only1 enables any creator to launch passes (semi-fungible tokens) to gate content in 30 seconds for $0 and requires near-zero crypto experience.

World’s Biggest Blockchain Summit Featured LOLLIPOP at Bangkok 1666

The 23rd edition of global elite gatherings of the World Blockchain Summit (WBS), Fostering the Future of Web 3.0, was held last December 8 to 9 at The Athenee Hotel in Bangkok. Thailand aims to be a hub for all key stakeholders in the blockchain, cryptocurrency, and web3 ecosystem.

WBS is one of the largest events industries, attracting thousands of influential people in the blockchain industry, including developers, investors, entrepreneurs. First held in Dubai in 2017, the event became an outstanding success and attracted over 400 people from around the world. Global speakers attend the events to share insights on current and future trends about Web3.0, DeFi, NFTs, and the like.

Investors, startup projects, companies, government representatives, and technology leaders gathered to discuss the future of the industry and innovative ways to transform business and government functions.

Mohammed Saleem, founder, and CEO of WBS said, “With the global adoption of blockchain technology having a significant impact on every sector of business and industry and Thailand emerging as a crypto leader in the ASEAN market, we intend to unite the crypto aficionados in a two-day conference with the objective of fostering the future of Web3.”

LOLLIPOP’s Innovative Approach

LOLLIPOP, a silver sponsor, was one of the most prominent projects who attended the summit. Their team helped visitors learn more about the use of the NFT Marketplace in the Metaverse, and what LOLLIPOP plans to achieve.

The distinctive booth design became an opportunity to connect with similar and diverse projects. It gave people the impression that the project is not just fun, but also useful for the NFT Marketplace. Many photos were taken and people literally got a treat of a lollipop candy and other merchandise.

LOLLIPOP’s Achievements at the Summit

LOLLIPOP’s brand advocate, Chad, gave an impressive presentation on “LOLLIPOP’s Role in the Web3/Metaverse”. He stated, “The project is headed to the moon and LOLLIPOP will be an indispensable marketplace for buying and selling NFTs.” Chad’s speech had people recognize LOLLIPOP as a cutting-edge solution that will revolutionize the metaverse era.

About LOLLIPOP

Currently a DeFi system, with swap and stake function using their own LPOP token, LOLLIPOP aims to evolve into a democratic and interoperable cross-chain NFT market. Hoping to further develop the NFT marketplace by introducing a more seamless and user-friendly platform for the general public.

https://lollipoppool.org/
Twitter: @LollipopBsc

The Awesome Power of Homomorphic Encryption Realized – DERO Project Leverages Cypherpunk-Designed Tech for Unrivaled Privacy in Transactions 1951

The DERO Project recently highlighted the importance of privacy for blockchain security by showcasing the innovative power of its DERO homomorphic encryption (DEROHE). Despite hundreds of millions of dollars spent in research and development by other companies who are desperate to develop this tech, DERO has already delivered – using a fully developed homomorphic encrypted blockchain for almost a year now. The DERO Project represents the ongoing evolution of a thriving ecosystem that protects a user’s privacy while enabling lightning-fast transactions and settlement times.

What Exactly Is DEROHE?

Researched by some of the biggest tech giants in the world, homomorphic encryption is the process of performing operations on encrypted data without first having to decrypt that data. DEROHE encrypts user balances and transactions before they are operated on, allowing the blockchain to function, update balances, and transact without ever having to decrypt user balances or exact transaction numbers. The history of transactions and balances is established via mathematical proofs, easily verified without the need for a transparent blockchain, and allows for chain pruning and verification of history without having to scan the entire blockchain.

Why Is DEROHE Important for the Future?

“Encryption has become almost a generic term at this point, used everywhere in the digisphere to lull users into a sense of security and safety,” said DERO Foundation members. “But even the best encryption relies upon first decrypting data in order to analyze it. And it is there – at the decryption stage – where the vulnerabilities lie. That’s the point of access for hackers and thieves. This is why DEROHE is so revolutionary. Data can be recorded, stored, secured, verified, and even shared without ever decrypting it – literally eliminating blockchain analysis.”

And while DEROHE can be used to share encrypted data with third parties to ensure absolute privacy, it has many other business and blockchain applications too, along with the potential to enable new types of distributed computation.

“DERO is the most technologically advanced smart contract platform out there right now,” said DERO developers. “It is the fastest privacy chain with near instant settlement, using DEROHE and an account-based decentralized blockchain. We’re the only ones successfully using this tech – others are still trying to perfect it.” The DERO Foundation also pointed out “There are already defi projects gaining traction including DEX, as well as NFTs and tokens – which are natively supported by the privacy protocol and move wallet to wallet like cash once they are created. This is a truly unique capability that only DERO provides.”

The DERO Project – dARCH Hackathon News

DERO is currently hosting an extended contest event called dARCH, which is a six-month hackathon scheduled from November 1, 2022 through May 1, 2023. The hackathon offers a total prize pool valued at over $40,000, with competition taking place in three separate events. DERO tokens and NFA trophies are awarded to the winner of each event. Round one is coming to an end on February 1st and developers need to make sure they have their proof of concept or complete projects submitted by then. Read more about the dARCH event at Medium.com.

About DERO – Privacy Together

Originally launched in 2017, with mainnet homomorphic encryption and smart contracts released at the beginning of 2022, the DERO Project is a platform for developers to deploy secure, open, scalable, and privacy-preserving decentralized applications. DERO is unique because the developers value security and privacy above all else, allowing users to transact privately over the network without fear of pitfalls, scammers, identity theft, common protocol-level or network attacks. And with tech that preserves transparency where required, scaling with network load, DERO provides the ideal environment for business-class applications. Learn more about the DERO Homomorphic Encryption Blockchain Protocol (DHEBP) at: www.Dero.io.

Virtualtech Frontier Secures Funding Led by Blockchain Founders Fund to Further Develop Metaverse Platform 2204

Virtualtech Frontier (VTF), a metaverse development company, has secured seed round funding from Blockchain Founders Fund (BFF), joining forces with seed investor 500 Global in support of VTF’s journey to introduce the future of digital engagements by enabling the metaverse for everyone. The funds will be allocated towards growing the team, supporting marketing activities and further developing their platform, Mitoworld.io.

Since 2020, the company has been at the forefront of creating an interoperable and accessible metaverse; by allowing companies to leverage virtual environments to achieve business objectives. Since then, the strong momentum they have achieved in metaverse solutions has enabled them to more than triple their revenue in 2022 compared to the previous year.

“VTF is reimagining the way that businesses interact with customers in the metaverse. We are delighted to be supporting them in this endeavour and look forward to helping them scale this solution.” said Tobias Bauer, Partner at Blockchain Founders Fund.

“We are thrilled to have the support of Blockchain Founders Fund,” said VTF’s CEO Jason Low.

“Getting invested during the bear is the greatest signal that we are on the right track. We are all about long term value creation and this funding will help us continue to push the boundaries of what is possible with Mitoworld and provide the best possible experience to everyone.”

VTF believes that the metaverse has the potential to revolutionise the way that communities interact and engage with each other. The metaverse will bring new opportunities for creative output, as existing marketing solutions and platforms on the market are severely outdated. Together with the support of their investors, VTF is looking forward for companies to come together and explore exciting methods of brand expression as they transform their branding in the metaverse with Mitoworld.io

Mitoworld.io is a metaverse platform that allows communities to easily create and share their very own metaverse. With cutting-edge technology, interoperability and user-friendly interface, Mitoworld’s platform is set out to become the go-to solution for brands and communities looking to engage and connect with their potential clients in the virtual world.

Visit the Mitoworld.io website to try it out for yourself, or visit social media via the links below to check out their updates.

About Virtualtech Frontier

Virtualtech Frontier is a leading Metaverse and virtual spaces development company in Asia. The team is at the forefront of creating an interoperable and accessible metaverse; enabling companies and brands to make their way into the metaverse ecosystem. Virtualtech Frontier is currently working on an Integrated Virtual World Platform (IVWP) called Mitoworld.io that focuses on simplifying the creation and connection of purpose driven metaverses.

About Blockchain Founders Fund

Blockchain Founders Fund (BFF) is a leading early stage (seed and pre-seed) Web3 Venture Capital fund which invests in top-tier founders globally. Backers include a strategic mix of the leading firms in the crypto and traditional finance world. They invest in highly-promising startups taking a go-to-market focus and a hands-on approach to drive value. BFF helps curate strategic partnerships, hire talent, accelerate growth and ensure portfolio founders are well capitalised. The team comprises builders and operators that have scaled many of the leading Blockchain startups and are on a mission to support all-star teams shaping the Web3 industry.

Say hello to HashKey Me’s new brand 2398

We are delighted to unveil a new brand identity for HashKey Me to accurately depict who we are and better communicate our product capabilities. In the spirit of rebranding, we will continue to commit to our users and provide even more value to all our users as well as partners. We appreciate your support and continued confidence in us.

HashKey Me is a decentralized identity wallet supporting multiple blockchains. HashKey Me safeguards your assets by simple complete user registration and authentication with no private key or Mnemonic phase needed to be memorized, which traditionally facilitated the most momentous step in your crypto journey. HashKey Me being an indispensable part of HashKey Group, we are proud of our background, and we are even more proud of our business strategy for the following period.

HashKey Group is an end-to-end digital asset financial services group in Asia. Joining in the collaborative and powerful HashKey ecosystem, HashKey Me, as an important infrastructure of Web3, plays an inseparable role and opens doors to infinite possibilities from the synergistic likes of DApps, DEX, etc., and will bridge a channel between Web2 and Web3 for you, our dear users.

Core functions of HashKey Me

​​Multi-chain Support:

Supports access and manages all your crypto assets by using one digital identity within HashKey Me App. Access to DeFi, DApps on different blockchains with just one simple tap.

Chat feature:

Supports MetaMask login to chat with friends easily. Meanwhile, binding with our key cooperative partner: Relation to chat directly. Relation is reconfiguring the social relations of individuals in a decentralized way.

HashKey DID registration:

HashKey Me will serve as the mobile end of the HashKey DID for Web3 users. HashKey DID is a multi-chain decentralized identity data aggregator powered by smart contract, NFT, and decentralized privacy protection protocol to provide identity services to Web3 users.

Future development of HashKey Me

HashKey Me is committed to creating a one-stop Web3 multi-chain wallet with MPC mechanism, which concerns a high level of security and ease of use. As an NFT Minting Portal, HashKey Me allows flexibility in one’s expressions of Web3 social relationships.

In our product roadmap, HashKey Me generates the ability to quickly integrate new functions as the Web3 ecosystem evolves, continuing to provide inspirational experiences in the Web3 era for everyone!

About HashKey Me

Based on MPC (Multi-Party Computation), HashKey Me is a decentralized identity wallet supporting multiple blockchains. With email addresses as unique identities, users can generate accounts compatible with a number of major blockchain ecosystems, including Cosmos, Bitcoin, Ethereum, Polkadot, Polygon, PlatON, Avalanche, Arbitrum, etc. While safeguarding digital assets in a decentralized manner, the solution also lowers barriers to access, for it does not require managing mnemonic phrases and private keys.

About HashKey DID

HashKey DID is a multi-chain decentralized identity data aggregator powered by smart contract, NFT, and privacy protection decentralized protocol to provide identity services to Web3 users. As an essential piece of Web3 infrastructure in the HashKey ecosystem, the fundamental goal of HashKey DID is to build a community-governed HashKey DID DAO together with users.

About HashKey Group

HashKey Group is an end-to-end digital asset financial services group in Asia. The Group provides a complete ecosystem across the entire digital asset landscape, ranging from venture investment to custody to technologies and trading.

HashKey’s senior team has extensive experience and expertise in investment, governance, and technology gained from tier-one banks, regulators, and Fintech ventures.

By bringing together the most advanced blockchain research, development, and technologies, HashKey identifies potential opportunities and delivers end-to-end solutions that operate within regulatory frameworks with high compliance standards. The Group has operations in Hong Kong, Singapore, and Japan and extensive partnerships with FinTech and blockchain solutions providers, academic institutions, and associations.

Filecoin Foundation Announces First Mission to Deploy Decentralized File System in Space 2599

Today, Filecoin Foundation (FF) announced a first-of-its-kind mission to deploy the Interplanetary File System (IPFS) in space. The mission will take place in 2023 aboard Lockheed Martin’s (NYSE: LMT) LM 400 Technology Demonstrator spacecraft.

Previously, in May 2022 in Davos, FF announced an initial effort with Lockheed Martin to deploy IPFS in space to improve the speed of data transfer across long distances. This mission is the next step in that project, bringing the benefits of decentralized storage to space and exploring use cases for how IPFS can enable better interplanetary communication and data transfer.

“From the beginning, IPFS was envisioned as a technology that can enable networking across ‘interplanetary’ distances,” said Marta Belcher, president and chair of Filecoin Foundation. “Today’s centralized internet model doesn’t work in space. Let’s say you’re on the moon and you’re retrieving data from Earth; each time you retrieve that data, there will be a multi-second delay. With IPFS, data doesn’t need to go back and forth from Earth with every click. That’s because, with IPFS, data is identified by what it is rather than where it is. Each piece of content has a unique ‘content ID.’ When you look for a piece of content, that content is retrieved from wherever is closest, rather than always being retrieved from a particular server. That means if someone nearby on the moon has already retrieved that data, it only has to travel a short distance and can get to you quickly instead of traveling back and forth from Earth with every click.”

This mission is the first of its kind to evaluate in-space use cases for decentralized storage. It will be hosted aboard Lockheed Martin’s self-funded LM 400 Technology Demonstrator – a software-defined satellite about the size of a refrigerator, designed to support a wide range of missions and customers. Once the spacecraft is in orbit, it will use its SmartSat™ software-defined satellite technology to upload and perform the IPFS demonstration.

“The LM 400 Tech Demonstrator mission will showcase how IPFS can make larger quantities of data from space available to multiple ground-based applications in simpler ways,” remarked Joe Landon, vice president and general manager of lunar infrastructure services at Lockheed Martin. “It will serve as the foundational infrastructure to enable more efficient interplanetary communication for our collective, long-term presence in Earth orbit, at the moon, and beyond.”

The mission will demonstrate a space-to-ground communication use case for IPFS. Data from space will be “content-addressed” using IPFS and made available on the IPFS network through a ground station. Applications using IPFS will be able to retrieve the data from the IPFS network, without needing to know the location of the specific ground station holding the data.

IPFS is a decentralized protocol for storing and sharing data that uses content-addressing to uniquely identify files. IPFS is a foundational technology for the Filecoin network, a cryptocurrency-powered decentralized storage network. The IPFS software layer for space is designed to be usable for a wide range of use cases and architectures and topologies, including space-to-space communication. The software is open-source licensed and is being developed in public.

About Filecoin Foundation

Filecoin Foundation (FF) facilitates governance of the Filecoin network, funds research and development projects for decentralized web technologies, and supports the growth of the Filecoin ecosystem and community. Its mission is to preserve humanity’s most important information.