The decentralized application (DApp) NEAR protocol is releasing a new blockchain operating system, focusing on improving user experience on Web3 through a common layer for browsing and discovering open web resources, the company disclosed at the Web3 and innovation festival ETHDenver 2023. In an interview with Cointelegraph's Turner Wright during the event, NEAR co-founder Illia Polosukhin spoke on how the ecosystem is moving closer to user's needs and the release of the Blockchain Operating System (BOS). According to the NEAR's team, the system works with any blockchain or Web2 backend, allowing users to have the experience of using a single …

Blockchain technology has disrupted various industries by providing a secure decentralized platform for transactions and data storage. The consensus mechanism is one of the most critical components of any blockchain out there, as it ensures its reliability and security. In recent years, new consensus mechanisms have been introduced, and existing ones have been improved to cater to the growing demands of the industry. To date, proof-of-work (PoW) has been the most widely used consensus mechanism in blockchain technology. However, PoW blockchains have several limitations, including slow transaction processing times, high energy consumption and scalability issues. To address these challenges, several …

What is the future of Bitcoin DeFi? The effectiveness of Bitcoin DeFi platforms and protocols will be determined by their long-term sturdiness and security, level of innovation, as well as the incentives provided to investors. With Bitcoin scaling solutions like Rootstock, Stack, Liquid Network and more, it is evident that DeFi is flowing into the Bitcoin network. However, DeFi on Bitcoin is less approachable than on the Ethereum blockchain and other smart contract platforms. That said, if developers want to opt for the Bitcoin blockchain to develop DApps or mint NFTs, they need to rely upon layer-1 or layer-2 solutions, …

The blockchain space has long been an attractive medium for creators of all kinds. From digital artists to software developers, blockchain tech has something to offer. However, one big challenge still remains in the space - most blockchains follow the ‘to each their own' concept. Interoperability in web3 is still scarce, which limits creators and makes the entry point for many a bit steeper. One of the main elements that creators of all areas are still seeking is the opportunity to collaborate freely and effortlessly. What needs to improve? As things stand at the moment, blockchain developers scarcely have the …

Peng Zhong, the chief executive officer of Ignite — formerly Tendermint and backer of the Cosmos ecosystem — has announced he will be leaving the firm. In a Friday tweet to his more than 20,000 followers, Zhong said Friday will be his last day at Ignite, where he has been working as CEO since May 2020. Prior to that, the now-former Ignite CEO was chief design officer at the firm’s Kuala Lumpur and Toronto offices since he started in 2015. It’s unclear what led to his decision to leave the company. Today is my last day at Ignite. Thank you …

Do Kwon, the CEO and co-founder of the infamous Terra (LUNA) and TerraUSD (UST) ecosystems, refuted the claims of cashing out $80 million every month for nearly three years. Numerous unconfirmed reports surfaced on Saturday, claiming Kwon’s participation in draining liquidity out of Luna Classic (LUNC) and TerraUSD Classic (USTC), before the crash to purchase United States dollar-pegged stablecoin such as Tether (USDT). Rumors about Kwon cashing out LUNA and UST reserves surfaced after a Twitter thread by FatManTerra shared the alleged details on how Kwon, along with Terra influencers, managed to drain funds while artificially maintaining the liquidity. Some …

Bitcoin (BTC) ATM installations have marked a new comeback as June 2022 saw the reversal of the five-month-long downward trajectory for the first time this year. The global ATM installations worldwide fell consistently throughout the year, with May reporting the lowest number of 205 ATM installations. However, June saw the installation of over 882 ATMs in just the first ten days. As evidenced by the above graph, May 2022’s drop reached a range that was last seen three years ago in 2019. Over the last two years, in 2020 and 2021, Bitcoin ATM installations grew consistently owing to friendlier regulatory …

For many layer 1 crypto projects, returning to normalcy from Terra’s death spiral meant a complete migration to a different ecosystem. But, how does one make the right move, especially after knowing the unfortunate fate of their initial platform of choice? In the case of Tracer, a Web3 fitness and lifestyle app, moving away from the Terra ecosystem for survival was just one piece of the puzzle. Choosing a new host to build on requires more than checking the technical compatibility with the blockchain ecosystems. As explained by Near Foundation’s Nicky Chalabi, projects like Tracer seek alignment with the ecosystem’s …

Looking beyond the new breed of cryptocurrency millionaires, there is an asset class that can unlock the ticket to economic freedom by solving many of the current shortcomings of the traditional financial system. At a basic level, economic freedom starts with the right for people to control their own property both in the country they reside in and across the globe. The world has recently become aware of the lack of freedom in this matter, with examples including the well-known trading app Robinhood ceasing the trading of GameStop stocks temporarily, effectively locking investors out of this market and highlighting a …

The nonprofit organization focused on the open-source stablecoin network behind Terra USD, Luna Foundation Guard, has closed on a $1 billion raise through the sale of LUNA tokens. In a Tuesday tweet, Terra said Jump Crypto and Three Arrows Capital led the $1 billion round with participation from DeFiance Capital, Republic Capital, GSR, Tribe Capital, and others. The platform said proceeds from the sale — $1 billion — would “go towards establishing a Bitcoin-denominated Forex Reserve for UST,” a stablecoin in the Terra ecosystem. 1/ The long awaited [REDACTED] 3 is here! The Luna Foundation Guard (LFG) has closed a …

Digital ecosystems are taking on a new form in a virtual reality metaverse. As a truly immersive experience, these opportunities give users a fresh take on how people live their lives. In iterations of this concept, some have noted the Mirrorworld, a reality in which experiences will exist in an almost one-to-one map with experiences including how a person works or learns, and projects like NewsCrypto (NWC) offer even more – trading and education-focused metaverse, where users can learn to make better investment decisions. By encompassing all the activities that make up our world today, the metaverse will allow our …

Nearly every segment of the crypto sector underwent explosive growth in 2021. The steady inflow of institutional funds could possibly be interpreted as a signal that the best is yet to come. For new users, figuring out how to obtain cryptocurrency can be a tedious task, and the challenge of securing the assets off exchanges is another hurdle some investors find difficult to overcome. Here’s a rundown of some of the most used cryptocurrency soft wallets that support a wide swath of tokens and offer users access to decentralized finance (DeFi), nonfungible tokens (NFTs), staking opportunities and airdrops. MetaMask MetaMask …