Analysis News TheBitTimes.com

Three gaming executives believe mainstream audiences will play a factor in the overall success and future of Web3 games. Web3 game developers have been battling to gain the attention of mainstream audiences for years, and according to three former gaming executives, that market is essential for the industry’s future.  Video games have become a favorite pastime for a lot of people all over the world and have even evolved into a sport. Overall, there are more than three billion Web2 gamers worldwide as of 2023, according to Exploding Topics. Most are considered casual gamers who play regularly but rarely invest significant time. Jennifer Poulson, who has worked in the gaming industry for 18 years, including at Web2 gaming companies Bandai Namco (Tekken, Elden Ring, PacMan) and Riot Games (League of Legends), believes mainstream audiences are “absolutely” important for the future of Web3 games. Speaking to Cointelegraph, Poulson, who is currently vice president of game partnerships at ...

Antoine Riard, who left the Lightning Network in October, argues the Lightning Network is also at risk of becoming increasingly centralized and susceptible to single points of failure and censorship risks. Developers working on the Bitcoin layer 2 Lightning Network have become less security -oriented and more focused on producing cash flow for their investors, argues a former Lightning Network developer. Bitcoin core developer and security researcher Antoine Riard, made headlines last month after leaving the Lightning ecosystem over concerns about a new attack vector called “replacement cycling,” which exploiters could potentially use to steal funds by targeting payment channels. How does a lightning replacement cycling attack work? There's a lot of discussion about this newly discovered vulnerability on the mailing lists, but the actual mechanism is a bit hard to follow. So here's an illustrated primer... 1/n pic.twitter.com/mvvS8bEc5f — mononaut (@mononautical) Octobe...

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. In the ever-evolving landscape of the internet, web3 technology has emerged as a beacon of innovation, expected to reach a staggering $81.5 billion global market size by 2030. In recent years, the world has witnessed a remarkable surge in interest surrounding decentralized applications (dapps), with examples such as Decentraland and Uniswap capturing the minds of users worldwide. However, amid this enthusiasm, there are a few obstacles on the path to success for web3 dapps, such as user interface (UI) and user experience (UX) improvements, that must be tackled to reach mainstream adoption. The global web3 market, 2019–2030 | Source:  Emergen Research Given the immense value and potential of web3, its critical apps in the space focus on two core elements: user-friendly interfaces and incentives. Despite the hype around d...

The world's largest asset manager filed the S1 form with the US SEC a week after registering iShares Ethereum Trust with the Delaware Department of State Division of Corporations. BlackRock, the world’s largest asset manager, officially filed for a spot Ether Exchange Traded Fund (ETF) with the United States Securities and Exchange Commission (SEC) on Nov. 15. The move by BlackRock comes nearly a week after it registered the iShares Ethereum Trust with the Delaware Department of State Division of Corporations and nearly six months after it filed for its spot Bitcoin ETF  application. BlackRock spot ETH ETF S1 filing. Source: SEC. The world’s largest asset manager started the spot Bitcoin ETF rush earlier this year, showing growing interest of institutions in the crypto market, and within six months, it has joined the growing list of institutions filing for a spot ETH ETF. This is a developing story, and further information will be added as it becomes available. Source: https://...

The ‘World App’ for iOS and Android has now been downloaded 4 million times, according to data collected by its development team, Tools for Humanity. Iris-scanning project Worldcoin has reached a new milestone, as its mobile World App has now been downloaded over 4 million times, according to a November 1 blog post from the project’s team. If this number is eventually confirmed by Coingecko, it could place World App in sixth place in Coingecko’s list of most downloaded software wallets. The Worldcoin development team, called “Tools for Humanity,” also claimed that it now has over 1 million monthly users, double the number it had six months ago. World App now has more than 1 million monthly active users, 4 million downloads and 22 million transactions. Not bad for six months pic.twitter.com/pagXxTfc8E — Tools For Humanity (@tfh_technology) November 1, 2023 Worldcoin is a project that allows users to prove their humanness by having their irises scanned. Once the user has their i...

Beam wallet uses Web3Auth and account abstraction to allow for seedless accounts, stablecoin gas payments, and other user experience features. A new wallet that has launched on Optimism (OP) allows users to generate an address without storing seed words, and the account can be saved using an ordinary Twitter login . Called “Beam wallet ” the application runs in a browser window and requires no downloads, according to a July 27 announcement from its developer. It also allows users to send transactions on Optimism without owning Ether (ETH). INTRODUCING BEAM The first self-custody payments wallet built for the mainstream — no download or signup required. Beam is the easiest way on the planet to send anyone money. Try it out with a single click — Andy Bromberg (@andy_bromberg) July 27, 2023 Beam was developed by Eco, a payments company backed by Web3 venture capital firms Andreessen Horowitz, Coinbase Ventures, Founders Fund, Lightspeed Venture Partners, and Pantera Capital. To...

ZK proofs could help online privacy by only revealing relevant user information, solving the internet's “biggest problem,” says Brennen Schlueter. Zero-knowledge proofs could be used to solve the “biggest problem” plaguing the internet today — privacy, according to one cryptocurrency executive. Speaking with Cointelegraph at the Ethereum Community Conference (EthCC) the marketing chief at privacy-focused infrastructure platform Aleo, Brennen Schlueter, said while ZK proofs have become a popular solution to provide blockchains with improved scalability through ZK rollups, they have the potential to reshape the entire internet . ZK proofs enable the transfer of information to take place between two parties in which the originator only needs to reveal relevant information to the receiver. For example, to prove an individual is of age to enter a bar without revealing their actual age or identity to a security guard. Schlueter said the modern internet was not built to prioritize the...

Republican lawmaker and self-described crypto HODLer, Senator Cynthia Lummis, has expressed her support for the recent judgment in the SEC vs. Ripple case. Sen. Cynthia Lummis is one of crypto’s most prominent supporters on Capitol Hill. She posted on Twitter her feelings about the ruling in the U.S. Securities and Exchange Commission’s (SEC) case against XRP. My statement in response to the Southern District of New York’s ruling in Securities and Exchange Commission v Ripple Labs, Inc. pic.twitter.com/bmIxR0AmhT — Senator Cynthia Lummis (@SenLummis) July 14, 2023 Senator Lummis applauded Analisa Torres’ finding of the Southern District of New York (SDNY) that crypto assets traded in secondary markets are not investment contracts.  You might also like: Lawyer argues XRP is not a security as SEC lawsuit continues The senator further stated that the court’s decision mirrored the position taken in the proposed crypto legislation that Sen. Kirsten Gillibrand and hers...

Verified Twitter users will be allowed to view 10,000 posts per day, while new, unverified accounts will get 500 under the new limits. Social media platform Twitter is temporarily limit ing the number of posts that users will be allowed to read per day, after seeing “ extreme levels of data scraping and system manipulation ,” according to executive chairman Elon Musk. In a July 1 post, Musk said the temporary limits will see verified accounts capped at 10,000 posts per day, while unverified and new, unverified accounts are capped at 1,000 and 500 posts per day respectively: Now to 10k, 1k & 0.5k — Elon Musk (@elonmusk) July 1, 2023 Twitter users had been reporting issues on the platform over the last few days including the inability to retrieve tweets, missing timelines, and being met with a "rate limited exceeded" message, leading to the hashtag #TwitterDown #TwitterFail to trend in certain jurisdictions. A screenshot of a Twitter user’s account — having reached th...

The integration is built on DSNP, a protocol created by Project Liberty. Social network MeWe will integrate with the Frequency Blockchain network , a parachain of Polkadot, according to an April 26 announcement at Consensus 2023. The announcement added that the company will begin moving its users ’ accounts over to the network during this quarter. Just in from #Consensus 2023 - Polkadot parachain @one_frequency has announced a major partnership with social networking app @mewe to connect its 20 million users to Polkadot and the Social Web, giving each of them a social identity and full control over their own data. pic.twitter.com/O39RNtEhDy — Polkadot @ Consensus 2023 (@Polkadot) April 26, 2023 MeWe was launched in 2012 and has been touted as a “Facebook alternative” with allegedly better privacy protections. An Axios report in September stated that the network had over 20 million users. Frequency launched as a Polkadot parachain in November. At a Consensus 2023 panel calle...

Vitalik Buterin has weighed the impacts of the addition of zk-EVMs at the protocol level, saying it could speed up the verification process on the base layer. Ethereum co-founder Vitalik Buterin wants to see zero-knowledge Ethereum Virtual Machines (zk-EVMs) built on Ethereum’s first layer to speed up the verification process on the base blockchain. Buterin explained in a March 31 post that it’s possible to integrate a zk-EVM on the base layer without compromising on decentralization and security . The technology enables Ethereum Virtual Machines to execute Smart Contracts on the Blockchain with ZK proofs. How will Ethereum's multi-client philosophy interact with ZK-EVMs?https://t.co/MPpTPNhldR — vitalik.eth (@VitalikButerin) March 31, 2023 Ethereum was developed with a “multi-client philosophy” to ensure decentralization at the protocol level, Buterin explained. By integrating zk-EVMs at the Ethereum layer 1, it would be the third type of client. “Once that happens, zk-E...

The Chinese government has been proactively pursuing advancements in its blockchain sector and now aims to upgrade its industry development standards by the year 2025. Chinese officials have been actively developing its fintech industry, with a strong focus on blockchain technology, despite their stringent stance on cryptocurrencies. On March 28, the Ministry of Industry and Information Technology (MIIT), a watchdog for the Chinese fintech industry, said it intends to improve standards for its Blockchain technology development by the year 2025. The information comes from a draft of its guidelines published on the ministry’s website, which also calls for public opinion on the matter of Blockchain development from “all walks of life." China plans to have clarification on the level of design for its Blockchain and distributed ledger technology standards system by sometime this year, giving the public until April 28 to make any further input on the draft. This development falls in...

Web3 provides creative freedom for content creators by giving deeper access and involvement to their audiences. The entertainment industry rarely sees a dull moment when it comes to disputes over the ownership of intellectual property or creative rifts between big networks and showrunners. A tiny number of studios and networks own the majority of rights, leading to the mass production of films and TV shows that somehow feel the same. Web3 aims to change that by giving the power back to content creators and fans. “In Hollywood, there’s a formula,” explained Jason Neubauer, the founder and CEO of Affect Change. “People have their own agendas. I wanted to create stories that are authentic, and inspire others to become the best version of themselves.” Neubauer said that, before the Web3 era, producing a TV show would require signing a deal with big networks, which involves a lot of compromises on the creators’ end. Mimicking a network executive, he revealed the mindset of big networks: “W...

The history of mining reflects the ongoing evolution of technology and human ingenuity in the pursuit of extracting valuable resources from the earth. Mining is the process of extracting valuable minerals, metals and other resources from the earth. This may entail extracting minerals from underground deposits or from the earth’s surface. The minerals and resources extracted through Mining are used for a wide range of purposes, including energy production, construction and manufacturing. Mining can take many forms, including underground mining, surface mining and placer mining. The specific method used depends on the type of resource being extracted and the location of the deposit. Moreover, the mining process typically involves several stages, including: Exploration: To locate a deposit. Extraction: To remove the minerals or resources. Processing: To extract the valuable components. Reclamation: To restore the site to its original state. Mining can have a variety of effects on the env...

The two layer-2 networks processed more than 1.1 million transactions combined on Jan. 10. Ethereum Layer-2 (L2) on-chain activity has been increasing to the extent that the leading two networks now process more transaction volume than the Ethereum network. Layer-2 networks Arbitrum and Optimism have seen an increase in transaction s over the past three months. Comparatively, aside from a few spikes, transaction s on the Ethereum network have declined by around 33% since late October according to Etherscan. This has enabled the two L2s combined to flip Ethereum for this metric, according to Dune Analytics data. The chart shows Ethereum processed over 1.06 million transactions on Jan. 10 whereas Arbitrum and Optimism combined processed over 1.12 million transactions. Additionally, Optimism has now surpassed Arbitrum in terms of daily transactions following a steady uptrend in activity since September. Layer-2 ecosystem analytics website L2beat reported all L2 activity in terms of tra...

The migration of Solana's top two NFT projects to Polygon and Ethereum is set for the first quarter of 2023 on an opt-in basis. Nonfungible token (NFT) firm Dust Labs is migrating its two top-performing Solana NFT projects — DeGods and y00ts — onto Ethereum and Polygon in a bid to expand their adoption.  The news was announced on DeGods and y00ts Twitter page on Dec. 25, with both NFT projects expected to be officially bridged onto Ethereum and Polygon respectively in the first quarter of 2023. Rohun Vora — the creator of DeGods and y00ts who is known by the alias Frank III — said the decision was made to “explore new opportunities” and to allow for the continued growth of the collection. The move will also see the DUST token — used to buy, sell and mint NFTs on the DeGods ecosystem — also be bridged onto Ethereum and Polygon. It's just the beginning. pic.twitter.com/F3vxzXQAOy — Frank III (@frankdegods) December 25, 2022 Vora confirmed that two NFT projects will still rema...