Venture Capital (VC) firm Paradigm is leading a substantial $225 million funding round for a new Layer 1 (L1) network, that aims to compete with the Ethereum (ETH) blockchain. Other notable participants include VC firms Electric Capital and Greenoaks. According to a recent Fortune Magazine report, Monad Labs, the company behind the blockchain project, aims…
Wormhole, a cross-chain communication protocol enabling the transfer of assets between blockchains, recently launched an airdrop campaign for its newly issued governance token, W. Early users were rewarded with 617 million W tokens, and the protocol also released a roadmap outlining its plans. Wormhole Protocol Unveils Roadmap According to the protocol’s roadmap, W aims to…
In a recent announcement, Layer 2 (L2) protocol Injective (INJ) has reached a major milestone with the launch of its inEVM Layer 2 rollup solution on the mainnet. This technology introduces an Ethereum Virtual Machine (EVM) environment to the Injective ecosystem, opening up new prospects for developers and blockchain interoperability. By integrating with Ethereum (ETH),…
The XRP Ledger ecosystem is currently buzzing with new exciting developments that could potentially propel the price of XRP to new heights. RippleX, an extension of Ripple and an open developer platform has announced new updates for the upcoming XRP Ledger Ethereum Virtual Machine (EVM) sidechain. XRPL EVM Sidechain Signals Hope For XRP Price Resurgence…
The Aave community has overwhelmingly approved a proposal that will set the ball rolling for deploying Aave V3 on Solana, a smart contracts platform. The motion, put forward by the Neon Foundation and the Aave Chan Initiative (ACI), passed with a majority vote of 83% based on results posted on January 21. Aave TEMP CHECK voting…
Taking to X on January 2, Jay Jog, the co-founder of Sei, Sei V2, is functionally “code complete” with Zellic and OtterSec, two blockchain security firms, auditing the code base. This development comes as the platform’s native coin, SEI, continues to surge, reaching all-time highs just four months after the launch of the high-performance blockchain in…
Hardware wallet manufacturer Ledger has responded to a recent security breach resulting in the theft of $600,000 worth of user assets. The company has pledged to enhance its security protocols by eliminating Blind Signing, a process where transactions are displayed in code rather than plain language, by June 2024. Ledger Takes Responsibility For ConnectKit Attack…
Solana, with its fast-growing ecosystem, has found a position at the forefront within the crypto space. By hitting $314 million in its private token sales, Solana crept the headlines in early June. Polychain and Andreessen Horowitz pioneered the Solana token sales. This funding impacted greatly in developing the fast-growing ecosystem of Solana. This pushes it…
All cryptocurrencies dumped to yearly lows in mid-December, Ethereum among them. Some have made a slight recovery but others have taken off at a far greater pace. ETH Market Cap Doubles in Three Weeks On December 15 Ethereum was smashed to an 18 month low of just above $83 according to Coinmarketcap. Its market capitalization…