Search Results for: Optimism network

Binance’s BNB Chain introduces a new layer-2 chain, opBNB to address scalability challenges using the Optimism OP Stack. With Ethereum compatibility, opBNB aims to support over 4,000 transactions per second at lower costs, enhancing security and scalability for Ethereum-based smart contracts and networks.

BNB Chain unveils opBNB testnet, an EVM-compatible blockchain with a target of 4,000 transactions per second and 0.005 U.S. cents per transaction. OpBNB aims to alleviate network congestion, reduce transaction costs, and improve scalability, offering a promising solution for efficient blockchain technology.

Alchemy, a prominent blockchain platform developer, announces the launch of AlchemyAI, a GPT-4 plugin for blockchain analysis. This tool transforms natural language inputs into specific blockchain queries, enhancing user experience and understanding. However, users are advised to exercise caution and fact-check provided information due to AI limitations.

Shibarium network’s native testnet, Puppynet, records over 20 million transactions, demonstrating impressive transaction times of just five seconds. Enthusiastic participation indicates high demand for the network, potentially driving up the value of Shibarium’s SHIB and BONE tokens. However, maintaining security and scalability are crucial for its success.

Cumberland Labs’ incubator arm has unveiled a beta version of expand.network, a universal API tool designed to simplify connections to blockchain and DeFi protocols. This service offers both read and write connectivity across major public blockchains, enhancing efficiency and user-friendliness in cross-chain communication and DeFi landscape navigation.

The Ethereum network’s recent Shanghai upgrade enables validators to withdraw staked Ether (ETH), reducing gas fees and unlocking validator withdrawals. This upgrade impacts Ethereum app developers and users, enhancing blockchain functionality and potentially influencing institutional adoption of cryptocurrencies. The change may affect the number of network validators and ETH prices, depending on their decisions to unstake or invest further.

Velodrome DEX is set for a significant upgrade on June 15th, improving user experience, security, and introducing new features. As the largest DEX on Optimism layer 2 network, the redesign includes better smart contract architecture amid recent VELO price drops. Its long-term outlook remains positive, emphasizing continuous innovation and unpredictable market nature.

Era’s integration with Rocket Pool allows users to stake ether (ETH) while holding rETH and receiving rewards automatically. Though facing challenges, Rocket Pool’s research team explores zk proof technology for potential advantages like lower costs, increased efficiency, and a streamlined system.

Crypto exchange Binance announced zkPass as the winner of its “Build the Block” Web3 reality show in the metaverse. The startup offers a decentralized identity verification solution for Web3 applications, preserving privacy using multi-party computation and zero-knowledge proof technology.

Interoperability protocol Connext introduces chain abstraction to enhance layer-2 experience, simplifying transactions across multiple decentralized applications on different chains. This trustless, fast technology plugs into native bridges to provide a seamless experience, countering fragmentation caused by the continuous launch of layer-2s and layer-3s.

Web3 infrastructure firm Mysten Labs partners with Red Bull Racing, introducing blockchain technology into Formula 1. This collaboration enables fan engagement through staked tokens and showcases the growing influence of crypto and Web3 in the sports industry.

GameStop has announced a strategic partnership with The Telos Foundation to boost its Web3 gaming offerings by integrating Web3 games built on Telos’ robust blockchain network with its upcoming game launchpad, Playr. This collaboration aims to eliminate barriers, making it more accessible for Web2 players to explore Web3 gaming while attracting new users to the emerging ecosystem.

Optimism’s Bedrock release is set to transform Ethereum into a Superchain, enabling seamless communication and collaboration between chains. The upgrade aims to reduce transaction fees, shorten deposit times, and ensure maximum security through a two-step withdrawal process. Scheduled for June 6, the mainnet upgrade brings Ethereum closer to a multi-client ecosystem, promoting interoperability and standardization within the blockchain community.

Render Network’s decentralized GPU rendering solutions and RNDR token are gaining interest amid a growing AI narrative. RNDR has outperformed major cryptocurrencies with a 5% value increase, coinciding with Nvidia’s AI-fueled stock surge. The buzz surrounding AI and potential connections with Apple’s upcoming AR/VR headset also contribute to RNDR’s rising attention.

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.

Unlock DAO announces plans to launch a cross-chain governance solution on ETH Goerli and Polygon Mumbai testnets, intending to automate decision-making by the DAO and streamline governance across numerous networks. The open-source solution is expected to be deployed on the mainnet by the end of June.

Zuzalu, a “pop-up city community” founded by Ethereum co-founder Vitalik Buterin, hosted discussions on cryptocurrency, blockchain, AI, and human longevity. Attendees explored human potential, but the event sparked debates on whether it’s paving the way to a new civilization or simply an eccentric gathering.

Dogecoin, once a joke, now surpasses Ethereum and Bitcoin in transaction volume, handling over 7.9 million transactions due to Bitcoin Ordinals, a layer-2 solution similar to NFTs. With competitive fees and rapid adoption of NFT-like features, Dogecoin demonstrates the potential as a serious blockchain competitor.

The upcoming BNB Chain Luban hard fork aims to enhance network speed and security, through three Binance Smart Chain Evolution Proposals: BEP-126 (Fast Finality), BEP-174 (Cross Chain Relayer Management), and BEP-221 (CometBFT Light Block Validation). These improvements could benefit users and potentially boost BNB token value.

Baby Doge announces plans to burn 100 quadrillion tokens in a move to increase security and project integrity. The DAO-backed initiative aims to reduce exploitation risks, facilitate Ethereum bridging, and lower transaction fees, while addressing potential Binance Smart Chain disruptions.

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.