Breaking News: Vincenzo Stefanini Joins the Forbes Legacy Pass Web3 Community!

A Major Milestone in Web 3.0 Im thrilled to share some fantastic news with the community: Ive just minted the prestigious Forbes Legacy Pass through @ForbesWeb3! This achievement marks a significant milestone in my journey within the rapidly evolving Web 3.0 landscape. The Forbes Legacy Pass is more than just a symbol of digital advancement; [...]

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Cardanos Voltaire era nears with June hard fork milestone

Chang will be the first hard fork in the final era of Cardanos roadmap, introducing community-run governance and on-chain community consensus.

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Bitcoin Hits New Milestone, Surpassing $110K for the First Time

In a stunning display of market dynamics, Bitcoin has shattered expectations by vaulting over the $110,000 mark, setting a new all-time high. This historic rally is not just a numerical milestone but also a testament to the growing acceptance and maturation of cryptocurrency as a viable segment of the financial landscape. Drivers Behind the Surge [...]

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Solana Surges 36% from Crypto Market Crash Lows Will $180 SOL Be the Next Milestone?

Solana has experienced a significant surge in price, rising by 36% from its recent lows after the crypto market crash. The current price is now at $180 per SOL token, sparking speculation about whether $180 is just a pit stop on its way to even higher prices. The rise in Solana’s price is attributed to [...]

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Bitcoin Mining Difficulty Surpasses 50 Trillion for the First Time, Reaching a Record 51.23 Trillion

On Wednesday, Bitcoin reached a new milestone as its mining difficulty increased by 3.4% at block height 792,288, setting a fresh record. The difficulty level surpassed the 50 trillion mark for the first time in Bitcoin’s history, hitting an unparalleled 51.23 trillion. Bitcoin Mining Difficulty Jumps 3.4% Higher Data reveals that around 373 exahash per [...]

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Litecoin’s Daily Transaction Count Remains Elevated as LTC Ordinals Approach 4 Million

Over the past week, Litecoin has experienced a sustained increase in daily confirmed transactions. Following a record-breaking peak of 585,415 daily confirmed transactions on May 10, the blockchain has consistently handled a range of 172,000 to 532,000 transactions per day. Litecoin’s Daily Transaction Rise Continues Since May 2, 2023, the Litecoin (LTC) network has been [...]

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Dogecoin’s Transaction Surge Surpasses Bitcoin and Ethereum With 2 Million Transactions Settled in 24 Hours

The Dogecoin blockchain has witnessed a significant surge in transaction activity ever since the inception of DRC20 tokens. When compared to other prominent networks, Dogecoin has stood out with its substantial volume of processed transactions. Recent statistics reveal an unprecedented milestone reached on May 27, 2023, as the number of DOGE transactions soared to a [...]

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Bitcoin Hashrate Reaches 400 Exahash per Second, Researcher Says Network Could Reach Zettahash Era by 2025

Despite Bitcoin’s difficulty reaching an all-time high at 46.84 trillion, participants in bitcoin mining have kept the hashrate running stronger than ever before. According to statistics, on March 23, 2023, the hashrate reached a high of 400 exahash per second (EH/s). The 400 exahash equates to 0.4 zettahash or four hundred quintillion hashes per second. [...]

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LayerZero Crosses This Significant Milestone, But Is An Airdrop Coming?

Cross-Chain communication protocol platform LayerZero has crossed 50 million cross-chain messages, as revealed by the platform on Tuesday, July 25. This significant milestone proves the massive trading activity and cross-chain token swaps that happen across several chains daily. LayerZero’s Impressive Growth The ‘50-million cross-chain messages’ is undoubtedly a testament to how much LayerZero has achieved in the space. Due to the project’s disruptive vision, it has received enormous backing from some of the ecosystem’s biggest Venture Capitalists (VC).  Related Reading: Fundstrat Predicts Bitcoin Will Reach $180,000 In 2024, But What’s The Catalyst? Three months ago, LayerZero raised $120 million from prominent backers like auction company Christie’s, renowned VC firms Sequoia Capital and Andreessen Horowitz, Capital market company Samsung Next, OpenSea Ventures, and Circle Ventures. What is more impressive is that LayerZero was valued at $3 billion during this Series B funding round, almost three times its $135 million valuation during the funding round held back in 2022.  This remarkable feat has also come during the lingering crypto bear market when many have felt that the outlook in the industry will be negative. That is why it is easy to share the sentiments of the CEO of LayerZero Labs when he stated: LayerZero is to blockchains what the internet was to computing clusters. LayerZero allows chains not only to build bridges (to transfer assets/value between them) but send and execute arbitrary data just like a packet on the internet. What this means is that you can now build applications that are orders of magnitude more complex than existing applications and do so with a completely seamless experience between chains. Blockchain interoperability remains the foremost issue in the Web3 space. Furthermore, this has greatly hindered some from venturing into the space, and it is well-known that if crypto is to enjoy mainstream adoption, this issue needs to be dealt with. That is why interoperability protocols like LayerZero are key in the blockchain ecosystem.  It is common knowledge that the interoperability issue stems from how blockchains have different protocols and standards that make them incompatible. However, platforms like LayerZero bridge this gap by facilitating seamless and direct communication between different blockchain networks, making it easy for users on networks like Ethereum, Aptos, Solana, and SUI to move their digital assets across these chains. “Wen Airdrop?” The question of if LayerZero will carry out an airdrop has been on the lips of many members of the LayerZero community. Although the team has been tight-lipped over whether or not there will indeed be an airdrop to users, the signs are becoming more glaring that one may, in fact, be on the horizon. Related Reading: Worldcoin Founder’s Refusal To Answer Token Distribution Question Sparks Controversy With so much success in the last year and so much money raised, it is possible that LayerZero is already working on its native token. If the platform was looking to reward the users who have supported it all this time, then an airdrop would be the most likely avenue to do so. However, with no talk of even a token launch, it is hard to determine if LayerZero will conduct an airdrop. Total market cap resumes recovery trend | Source: Crypto Total Market Cap on TradingView.com Featured image from Mirror.xyz, chart from TradingView.com

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Bitcoin Mining Difficulty Poised to Break 50 Trillion Barrier, May 31 Projection Shows

Despite an upswing in mining difficulty on May 18, current data projects Bitcoin’s mining difficulty to see a further escalation on May 31, 2023—potentially jumping between 1.1% and 2.51%. Bitcoin’s Difficulty Nears 50 Trillion Milestone Bitcoin’s mining difficulty, already at an unprecedented level of 49.55 trillion, seems poised to breach the 50 trillion threshold within [...]

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Bitcoin Stamps Approach 50,000 Recorded on Blockchain Alongside Introduction of SRC20 Tokens

With nearly nine million Ordinal inscriptions, the trend that followed, called Bitcoin Stamps, is nearing a milestone of nearly 50,000 stamps recorded on the Bitcoin blockchain. Additionally, similar to the BRC20 token economy, the Bitcoin Stamps concept has provided users with the ability to mint fungible tokens with a standard called SRC20. Bitcoin Stamps Inch [...]

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Bitcoin Returns to $30,000: Is this the Start of Another Bull Run?

"Bitcoin, the leading cryptocurrency, has once again reached the $30,000 mark. In this analysis, we'll delve into market trends, investor sentiment, and other key factors to anticipate whether this could kickstart another bull run."

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Ordinal Inscriptions Surge Past 13 Million Amid Game-Changing Recursive Inscription Upgrade

On June 20, 2023, around 9 p.m. Eastern Time, the tally of Ordinal inscriptions minted on the Bitcoin blockchain surged past 13 million. A mere five days had elapsed since the 12 million milestone was reached, indicating a persistent demand for these inscriptions that shows no signs of diminishing. Moreover, there has been a recent [...]

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Shiba Inu’s (SHIB) Shibarium surpasses the 10M transaction volume milestone

Shibarium is a layer-2 blockchain platform on Ethereum, built for the meme crypto Shiba Inu. The upgrade aims at transforming Shiba Inu into a far-reaching ecosystem. As the community awaits the mainnet, the developers launched the Puppynet testnet a few weeks ago. Meanwhile, the latest updates confirm that the Puppynet testnet has completed more than …

<p>The post Shiba Inu’s (SHIB) Shibarium surpasses the 10M transaction volume milestone first appeared on CCNC | Cryptocurrency Newscast.</p>

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Fireblocks hits SaaS unicorn milestone with $100 million annual recurring revenues

In one major blockchain news this Monday, we report on Fireblocks, a fast-growing company whose technological platform offers tools and other innovative products for managing, storing and transferring cryptocurrencies.

Basically, the company has announced that its annual recurring revenue (ARR) for 2022 had once again surpassed the $100 million mark.

According to the company, this is a milestone that puts it among a small group of software-as-a-service (SaaS) startups to become a “Centaur.” In fintech company parlance, companies that fall into this category are unicorns – with $1 billion or more in valuation.

Fireblocks is a multi-billion startup focused on helping blockchain and crypto platforms and its milestone comes just after four years of operations.  

As noted in the press release, the startup has joined companies such as Slack and Twilio in “a rare subset of SaaS unicorns” to reach the mark in under five years.

Fireblocks’ growth comes amid crypto’s continued dalliance with a bear market that impacted several projects in the industry. But while crypto prices of major coins have dithered below previous bull cycle lows and are bouncing near crucial support, the consolidation has been tempered with significant broader industry growth.

Michael Shaulov, the co-founder and CEO of Fireblocks noted this in a statement, adding:

“We saw an unprecedented volume of new market entrants, including fintechs, Web3 startups, banks, and PSPs. Because of Fireblocks’ MPC custody and treasury management technology, which has become one of the most fundamental pieces of infrastructure for the digital asset ecosystem, we have seen first-hand the innovation happening among fintechs, Web3 start-ups, banks, and PSPs who are diligently bringing new digital asset products to market.”

The company targets further growth in the sector, providing secure and scalable products to meet market demand and boost the decentralised economy.

Other than its increased use in the digital assets space, Fireblocks’ software technology is being deployed by some of the world’s leading institutions and startups to protect customers.

Recently, the company has struck deals with players such as BNP Paribas (covered here), Wirex, Six Digital Exchange, and Checkout.com among others who use its tools to secure investor funds and to streamline daily operations.

This article on Invezz in July highlighted Fireblocks’ collaborative effort with Polygon, while in August this year, we reported it had added NFT and DeFi support for Solana.

Indeed, over 1,500 financial institutions have used Fireblocks’ suite of products to securely transfer more than $3 trillion worth of digital assets.

The post Fireblocks hits SaaS unicorn milestone with $100 million annual recurring revenues appeared first on Invezz.

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Crypto.com hits new milestone with SOC 2 Type II compliance

Crypto.com, a cryptocurrency exchange with over 50 million users and accessible across 90 countries, has added to its growing reputation as one of the world’s leading crypto platforms with the successful completion of an independent compliance audit.

The audit reaffirms Crypto.com’s commitment to security and highest standards of data security.

On 23 August, the Singapore-based firm announced it had completed the Service Organization Control (SOC) 2 Type II Compliance audit, carried out by Big Four auditor Deloitte. 

Being SOC 2 Type II certified confirms Crypto.com as not just a company that’s committed to adhering to highest information security practices, but also one that already complies with the policies, procedures, and operations set out in the AICPA Trust Services Criteria in Security, Confidentiality, Processing Integrity, and Privacy. 

According to Crypto.com, the audit is a key milestone and an example of the company’s dedication to regulatory procedures, a step in the right direction.

Kris Marszalek, CEO of Crypto.com commented:

“I am extremely proud of our commitment to compliance, and this latest achievement is a testament to our security, privacy, and regulatory compliance capabilities which have been cornerstones of our business since day one.”

Crypto.com has recently scored several regulatory and registration milestones across the globe, including in South Korea, Cyprus, the Cayman Islands and from the UK’s Financial Conduct Authority (FCA). The company thus sees further time investment in pursuing the regulatory goal as one that will help it build the most trusted platform.

Jason Lau, Crypto.com’s Chief Information Security Officer noted:

“With the ever-evolving threat landscape, we will continue to ensure we maintain the highest level of security and data privacy so our customers can feel confident and trust our products. SOC 2 is an internationally respected security assessment criteria, and in line with highly regulated industries like the financial sector.”

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pSTAKE’s liquid-staking solution on BNB chain a major milestone for Binance

According to a recent announcement by Persistence, pSTAKE has launched a liquid-staking solution called stkBNB on the BNB Chain.

In essence, the liquid staking concept allows investors to stake digital assets while retaining the tradable variant of the staked asset.

In this case, the stkBNB will allow investors to stake any non-zero amount of BNB (BNB/USD). It will therefore serve as a major boost for the BNB ecosystem by encouraging and allowing interested users to take part in various DeFi activities using their liquid-staked BNB besides the staking rewards.

Once an investor stakes any non-zero BNB amount, the user will be issued with stkBNB coin instantly through an exchange rate framework that is similar to the model currently used by Compound’s cToken.

 The value of the issued stkBNB keeps growing as staking rewards automatically accrue.

Users also have the option of auto-compounding their assets to generate the highest yields possible.

When the investor feels it is time to unstake the staked BNB, pSTAKE automatically burns the issued stkBNB and issues an equivalent amount of BNB into the user’s crypto wallet. The unstaked BNB can then be withdrawn after a period of 15 days once the validators safely undelegate the funds.

It is important to note that the staking rewards accrual stops immediately after the unstaking action is completed.

The staking rewards within the BNB ecosystem come from the transaction fees paid by the BNB Chain users. As a result, the reward change depending on the network’s activity.

According to a post by pSTAKE, the stkBNB protocol works as follows:

• All the earned rewards are distributed to BNB holders who stake their assets with pSTAKE.
• A user’s staking reward automatically compounds at the end of every epoch.

This distribution model will remain active for the first 90 days after the launch of the mainnet after which fee distribution is subject to amendments through community consensus through a governance vote.

At the moment (initial bootstrapping phase) fees are waived and are subject to revision after three months through a governance vote.

According to pSTAKE, every smart contract operating on the stkBNB platform is audited by industry leaders including Halborn and PeckShield.

pSTAKE is also working closely with Certora to validate the rules that have been hard-coded into stkBNB smart contracts. It has also integrated with Forta Network for bot detection to monitor and identify threats and therefore enables fast response time in case of key issues. Forta also facilitates on-chain tracking of smart contracts.

In addition, pSTAKE has also partnered with Immunefi and has launched a $300K bug bounty campaign.

• pSTAKE’s aforementioned offering provides users with instant liquidity (primarily in the form of stkBNB) on their staked digital assets.
• Staked assets are balanced and spread across many high-performing validators to maximize user returns.
• The accrued rewards are auto-compoundable, which results in the highest yield possible.
• pSTAKE offers a high degree of operational flexibility for its clients, allowing them to bypass the traditional 7-day un-bonding period when unstaking BNB.
• The new level of liquidity for the BNB chain by bringing staked assets into the DeFi ecosystem can help spur dApp utilization.

Since its launch of the pSTAKE liquid staking platform, Persistence’s top priority has been to keep adding more DeFi use cases for the stkBNB to expose stakeholders to more benefits besides the staking rewards.

stkBNB is expected to foster the next phase of growth for the BNB Chain by bringing staked BNB into the BNB DeFi ecosystem while giving users the chance of participating in securing Binance’s native blockchain network.

The post pSTAKE’s liquid-staking solution on BNB chain a major milestone for Binance appeared first on Invezz.

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Cardano Records Over 20 Million Transactions Ahead of DEX Launches

The Cardano network remains one of the most stable blockchains in the crypto space. Founded in 2017, the network remains the largest proof of stake network in the industry. It holds the title for the proof of stake network with the highest amount of coins staked, only recently conceding to Solana to become the smart contracts platform with the second-largest amount of coins staked. Nevertheless, Cardano remains a force to be reckoned with and its latest achievement has shown that. Network activity has picked up on the network since the launch of smart contracts capability. Now, a little over two months after, the network has marked its 20 millionth transaction after only four years in operation. Related Reading | Cardano Active Addresses Shoots To New Highs Amid Downtrend Cardano Remains At The Top The project has done some impressive things in its four years of operation, one of which is barely experiencing any downtime. Most projects in the market have experienced downtime at some point. Most notably the Solana network blackout that saw the network go dark for about 24 hours. Cardano itself has experienced downtime which occurred in April but it lasted for only an hour and was over so quickly that a good portion of the community does not know this happened. Despite the lack of decentralized exchanges (DEXes) on the blockchain, it has managed to ramp up more activity than leading smart contracts platform Ethereum. Users can mint NFTs on Cardano, which has contributed greatly to this increased network activity. However, given that Ethereum has DEXes and NFT capability, this is an incredible feat for Cardano. ADA begins recovery trend | Source: ADAUSD on TradingView.com With this, Cardano has proven that it will be one of the leading DeFi platforms once decentralized finance takes off properly on the platform. ADALend, credited as the first lending protocol on the platform, is building its decentralized lending protocol on Cardano, which has been positively received by the community so far. How ADA Is Doing In The Market Cardano’s native token ADA has not had the best of weeks in the market recently. The digital asset had been the victim of major FUD that has seen its price sink to three-month lows. This has mostly been the result of crypto exchange eToro announcing that it would be limiting Cardano (ADA) capabilities for U.S. users on the platform starting in December. Related Reading | Cardano Ambassador Addresses FUD Surrounding The Project The token had taken a big hit following this, dropping down to the $1.4 range before picking up steam again. Despite the recovery, the coin continues to trade at about $50% less than its all-time high above $3 in September. Dropping prices have however not affected the amount of tokens being staked on the network. Cardano still maintains over 70% of its total supply staked by holders, one of the largest in the space. Featured image from Binance Academy, chart from TradingView.com

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SEC Approves Grayscales Solana ETF Filing in Significant Milestone

The Securities and Exchange Commission (SEC) is making progress in approving spot Solana exchange-traded funds (ETFs) just weeks after SEC Chair Gary Gensler expressed concerns about them. This development marks a significant step forward in the cryptocurrency industry as Solana continues to gain traction in the market. Spot ETFs allow investors to trade Solana directly [...]

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TRON Hits 95 Million Addresses Milestone, Will This Help Price?

On-chain data shows the total number of addresses on the TRON network has exceeded the 95 million mark, a major milestone for the blockchain. TRON Addresses Carrying A Balance Have Broken The 95 Million Mark According to data from the market intelligence platform IntoTheBlock, TRON has far left behind other layer 1 networks like Cardano [...]

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