Search Results for: Avalanche founder

In a significant advancement for blockchain technology, the CavalRe team has launched Multiswap on the Avalanche blockchain, enabling users to swap up to 300 different tokens in a single transaction. This function paves a new path for blockchain trading and empowers users to execute intricate trading strategies quickly and cost-effectively. However, the promising tool may present potential security risks.

Avalanche’s AvaCloud Platform, a no-code system enabling easy design and debut of custom blockchains, has contributed to the platform reaching 1 million Monthly Active Users. The milestone demonstrates Avalanche’s increasing adoption across various sectors and strengthens its capacity for handling extensive transaction volume and interactions.

“Blockchain networks may face growth obstacles due to “chain tribalism”, resistance to cross-chain collaboration. However, a shift towards chain interoperability, or different blockchains interacting, is expected by 2023. Notable upcoming developments aim to enhance this interoperability, although existing methods risk security breaches and require improvement.”

To combat increasing transaction times and fees, Ethereum is utilizing layer 2 scaling solutions, resulting in faster transaction speeds, lower costs, and maintaining security. These networks enhance throughput and transaction rates, drawing significant attention. However, layer 2 chains also face criticism, largely from crypto users maximizing profitability through airdrop farming.

“The integration of Consensys-developed scalable solution, Linea, by Symbiosis—a prominent DeFi liquidity protocol, could revolutionize the landscape by effectively addressing the scalability challenge. Layered scalable solutions like zkEVM rollups, aim to resolve cross-chain/multi-chain issues, improve processing efficiency and secure cross-chain trading.”

“Chainlink has unveiled its Cross-Chain Interoperability Protocol (CCIP) to manage cross-chain applications creation and services, now available for early users across several blockchain platforms, including Ethereum and Polygon. This protocol fulfills a substantial role in Chainlink’s partnership with international money transfer network, SWIFT.”

A recent report indicates that up to 10% of followers of crypto-related accounts on Twitter are fake, with Shiba Inu (SHIB) coin having the highest number of synthetic followers. Such proliferation may inflate follower counts and create an illusion of exaggerated popularity. Elon Musk has targeted this menace but his account also bears non-human followers. Frameworks are needed to curtail this issue.

The continuous cycle of layer-1 blockchain innovation raises concerns about sustainability. Mustafa Al-Bassam proposes an alternative solution, creating rollups that build upon networks without constant base layer modifications, potentially enabling faster mass adoption and more exciting use cases.

Crypto gaming startup Argus Labs raised $10m in seed funding for its World Engine, an SDK enabling game developers to create custom layer-2 blockchain networks on Ethereum. The platform aims to revolutionize gaming with increased on-chain elements, scalability, and user-generated content, empowering developers and players to build and expand Web3 games and communities.

Anoma Foundation secures $25 million to develop its third-generation blockchain architecture offering increased composability and ease of use. Focusing on intent-centric design, Anoma aims to further decentralize existing blockchain-based applications and platforms, enhancing decentralized applications (DApps) and services, such as decentralized exchanges and rollup protocols.

Multichain NFT protocol Holograph unveils “KilroyPunk,” blending “blue chip” NFTs with iconic memes. The collaboration with California-based artist Eric Elms explores rich visual and conceptual history of NFT art while adopting a multichain approach to digital collectibles, supporting Ethereum, Polygon, Avalanche, BNB Chain, and Optimism. This advancement addresses issues such as high gas fees and asset limitations in single blockchains.

NFTrade, an NFT marketplace, has introduced cross-chain purchases and payments on Ethereum, BNB Chain, Polygon, and Avalanche via partnership with Rarimo. This enables users to initiate a purchase on one network and pay on another seamlessly, improving the Web3 user experience.

Crypto startup Openfort raised $3 million to develop its wallet-as-a-service software for game developers and publishers. Offering frictionless wallet technology via APIs, Openfort aims to simplify and enhance the gaming experience by abstracting cumbersome crypto transaction elements and supporting Ethereum-compatible networks.

The Federal Reserve’s upcoming integration with Metal Blockchain has sparked debates on stablecoins, privacy, and financial system plans. Metal Blockchain’s collaboration with instant payment service FedNow aims to enable rapid stablecoin conversions and potentially create interconnected “bank chains” for a secure, oracle-independent blockchain ecosystem.

Aave deploys on Ethereum layer-2 scaling platform Metis, bringing DeFi features and products to the ecosystem. Metis users gain access to DeFi borrowing and lending services, efficient asset borrowing, enhanced risk management, and reduced transaction fees through gas optimization.

Major Web2 players, including Alibaba and Sports Illustrated, are entering the Web3 space, launching metaverse and NFT platforms on blockchains like Avalanche and Polygon, signaling growing interest and integration of Web3 technology into mainstream experiences.