After over two years of operation and maintenance by the Conflux Foundation, ShuttleFlow, a multi-asset bridge built on Conflux, is set to shut down. Per the announcement, the platform was pivotal in driving progress within the decentralized finance (DeFi) arena, enabling “seamless” asset transfers across various chains. Conflux Foundation Passes The Torch ShuttleFlow emerged as…
In a recent report by Messari, the analysis sheds light on the developments and challenges faced by Binance Chain (BNB), the blockchain created by Binance, the world’s largest cryptocurrency exchange regarding trading volume. The report highlights the separation of BNB Chain from Binance and various events and allegations that have impacted Binance and its associated…
The XRP Ledger (XRPL), a decentralized public blockchain developed by David Schwartz, CTO of Ripple Labs, has continued to evolve and show growth in the third quarter (Q3) of 2023, as highlighted in a recent report by Messari. The XRPL, facilitating cross-currency and cross-border payments for over a decade, has witnessed significant milestones, including a…
Recently, the cryptocurrency community has witnessed a heated dispute between the protocol Floki Inu (FLOKI) and the crypto exchange Bitget. The controversy arose following Bitget’s listing of TokenFi (TOKEN) and subsequent accusations of market manipulation, unauthorized listing, and insufficient solvency. Bitget Faces Allegations Of Market Manipulation On October 27, 2023, Bitget announced the listing of…
According to a recent report by the online database platform Messari, the Hedera (HBAR) Network, an open-source, public blockchain governed by the Hedera Governing Council, has showcased significant growth in the face of a challenging crypto market during Q3 2023. Hedera Network Hits New Record With 99 Million Daily Transactions Per the report, Hedera Network’s…
The Sui (SUI) Foundation has announced its latest initiative to strengthen its decentralized finance (DeFi) ecosystem, reclaiming 117 million SUI tokens worth $51.3 million from external market makers. The tokens will be redirected into various channels to support the growth of the Sui Network. This Layer 1 blockchain has gained recognition for its scalability since its mainnet…
Ava Labs, the developer of Avalanche, the high throughput platform for deploying decentralized applications (dapps) and custom chains, has released Firewood, an update the team said is a “multi-year effort that,” on the eventual rollout, will make blockchain data storage more efficient. Specifically, Ava Labs said Firewood resolves a big concern for expanding blockchains: data management. …
Behind the scenes, Cardano (ADA) has been actively building and introducing exciting innovations to its blockchain and ecosystem. This is evident in the latest weekly development report shared by Essential Cardano. Cardano: Highlights From The Report One of the notable highlights from the report includes the updates being made to Cardano’s Lace wallet. This week,…
Coinbase’s layer 2 scaling solution, called Base, has seem a meteoric rise in popularity recently. In just six short weeks since its launch, Base’s total value locked (TVL) has skyrocketed to nearly $400 million. This rapid rise in use and popularity has even seen it recently overtake the Solana blockchain in TVL. Coinbase’s Layer 2…
Blockchain Capital, a venture capital company founded by Bart Stephens and Brad Stephens in 2013, has successfully closed two new funds, raising a total of $580 million. The firm’s general partner, Spencer Bogart, confirmed the news to TechCrunch, stating that the funds consist of a sixth early-stage fund and the firm’s first “opportunity fund.” Approximately…