BLOCKCHAIN

What is necessary for Web3 to fully replace Web2?

[ad_1] Web3 is the buzzword that's on everyone's lips — but when you put the mania aside for a moment, there's a burning question that needs to be asked: Can these projects fully replace Web2… and what stands in the way of this happening? The likes of Google and Facebook have made a killing during the Web2 era, amassing billions of dollars in profits and a profound influence over the shape
BLOCKCHAIN

BIS marks CBDC pilot as ‘successful’ with $22M transacted

[ad_1] A multi-jurisdictional Central Bank Digital Currency (CBDC) pilot has been marked “successful” by the Bank for International Settlements (BIS) after a month-long test phase that facilitated $22 million worth of real-value cross-border transactions.The central banks of Hong Kong, Thailand, China and the United Arab Emirates (UAE) took part in the pilot program along with 20 commercial banks from those regions.More than $12 million worth of value was issued onto
BLOCKCHAIN

Reject CBDCs and look to BTC and stablecoins instead

[ad_1] U.S. think tank Bitcoin Policy Institute is calling for the United States to reject Central Bank Digital Currencies (CBDCs) and look to Bitcoin (BTC) and stablecoins as alternatives. In a whitepaper shared on Sept. 27, authors including Texas Bitcoin Foundation executive director Natalie Smolenski PhD, and former Kraken growth lead Dan Held argue CBDCs would strip the public of financial control, privacy and freedom. #CBDCs don’t solve any problem. They
BLOCKCHAIN

Wintermute inside job theory ‘not convincing enough’ —BlockSec

[ad_1] Blockchain security firm BlockSec has debunked a conspiracy theory alleging the $160 million Wintermute hack was an inside job, noting that the evidence used for allegations is “not convincing enough."Earlier this week cyber sleuth James Edwards published a report alleging that the Wintermute smart contract exploit was likely conducted by someone with inside knowledge of the firm, questioning activity relating to the compromised smart contract and two stablecoin transactions
BLOCKCHAIN

3 ‘blockbuster’ titles that could save GameFi — ABGA President

[ad_1] Kevin Shao, Executive President of the Asia Blockchain Gaming Alliance (ABGA) says he’s holding out hope for three “triple-A” blockchain gaming titles that could help propel GameFi into the mainstream and rescue it from the bear market.Speaking to Cointelegraph during Asia Crypto Week, the Executive President said one obstacle preventing mainstream adoption is current GameFi titles often have a focus on non-fungible tokens (NFTs) and play-to-earn (P2E) features without caring
BLOCKCHAIN

Axelar, Mysten Labs partner on cross-chain communication for super dApps

[ad_1] The Proof-of-Stake (PoS) blockchain Axelar and infrastructure company behind Sui blockchain, Mysten Labs, disclosed a partnership on Tuesday to deliver cross-chain communication for developers through General Message Passing, aiming to advance the prospect of a "super dApp". Integration is expected to be completed before the end of the year.The collaboration will enable dApps built in Move — Mysten's programming language — to call any function on any external chain.
BLOCKCHAIN

Microsoft, Avalanche, Polygon join $20M funding of Web3 automation startup

[ad_1] Web3 and tech companies participated in a funding round for a data platform called Space and Time that aims to transform central databases into trustless data sources powered by smart contracts. In an announcement sent to Cointelegraph, Space and Time mentioned that they’ve raised $20 million in strategic funding from investors like Microsoft's M12 fund, the venture capital arm of Microsoft, Avalanche and Polygon. In addition to these, investors also
BLOCKCHAIN

Korean authorities orders freeze of $67M of Bitcoin tied to Do Kwon

[ad_1] South Korean authorities have requested crypto exchange OKX and Kucoin to freeze 3,313 Bitcoin (BTC) reportedly tied to Do Kwon, the co-founder of Terra blockchain developer Terraform Labs.Kwon, who is currently on the run from the Korean authorities in the securities violation case, reportedly created a new wallet on Sept. 15, just a day after a Korean court issued an arrest warrant against the fugitive crypto founder.According to the
BLOCKCHAIN

Global think tank suggests blockchain in public finance can help reduce fraud

[ad_1] The Official Monetary and Financial Institutions Forum, or OMFIF, an independent global think tank for central banking and economic policy, has released a report suggesting that blockchain technology in a public finance management system could provide information essential to “formulate and design fiscal policy.”According to a Tuesday report, the OMFIF said modernizing public finance management through blockchain could help governments identify potential corruption and waste by providing “enhanced transparency
BLOCKCHAIN

Redditors share ‘reasonable’ goals in response to crypto billionaire survey

[ad_1] While some Americans believe that they could become billionaires by trading cryptocurrencies, some Redditors think that it may be better to aim for lower and more reasonable goals, such as becoming millionaires. In a study, market research firm The Harris Poll surveyed almost 1,989 United States adults and found that more than 70% are confident that they have the right tools to become billionaires someday. However, community members had other