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Smart contracts are self-executing contracts with the terms of the agreement directly written into code. They automatically execute and enforce agreements when predetermined conditions are met without intermediaries. Smart contracts are deployed on blockchain networks, which run on decentralized nodes, ensuring transparency, immutability, and security. The efficacy of smart contracts in blockchain technology is found in its capacity to automate and expedite many procedures and transactions, hence avoiding the necessity of conventional intermediaries like banks, attorneys, or escrow services. This lowers expenses and delays while also boosting security and trust since smart contracts follow pre-established guidelines that are stored on…
Arbitrum, a layer-2 blockchain network, has announced the launch of their Gaming Catalyst Program (GCP) on March 12. With this program, Arbitrum aims to support and enhance the development of Web3 games on their network.The GCP has requested an allocation of 200 million ARB tokens, with an estimated value of $426 million, over a period of two years. This initiative comes at a crucial time for Arbitrum, as they are preparing for an upcoming token unlock. On March 16, approximately 673.5 million tokens worth $1.34 billion will be released to the team and advisors, followed by a larger unlock of…
In a collaboration between PIXELYNX, Animoca Brands, and Banijay Brands, a new NFT collection has been launched that is inspired by the “Nosedive” episode from the popular TV series Black Mirror. The collection, named “Black Mirror Experience: Smile Club“, was announced on March 12 and has already experienced rapid sales, selling out in less than three hours. The First of Many Digital ExperiencesThe launch of “Black Mirror Experience: Smile Club” marks the first in a series of planned digital experiences related to the Black Mirror franchise. This is an exciting development for fans who have been eagerly waiting for new content…
Since its advent over a decade ago, blockchain technology has made grand promises of decentralization, disintermediation and radical transparency. Underpinning such visionary rhetoric, however, lies a sobering reality: Much of the wealth of data generated on public blockchains remains sealed off from average users. As blockchain adoption accelerates across finance, supply chains, governance and more, we as an industry must reflect on whether we have truly delivered on the technology’s core values. Jim Myers is CTO and co-founder of Flipside Crypto. The promise and the reality Public blockchains were conceived as open ecosystems where participants could interact without centralized gatekeepers.…
Pyth Entropy has officially launched on the EVM networks, offering a solution for random number generation (RNG) commonly used by blockchain applications, such as games, non-fungible tokens (NFT) drops, and decentralized prediction markets, which require a reliable source of randomness to ensure fair and unpredictable outcomes. The protocol leverages a two-party commit-reveal mechanism, a cryptographic technique that allows for the generation of random numbers without the need for mutual trust. During the period called the “Commitment Phase”, each party generates a secret random number, hashes it, and commits the hash to the blockchain. In the “Reveal Phase”, the numbers are…
Following Ethereum’s Dencun update today, BNB is preparing to take a similar update step this time. Inspired by Ethereum’s EIP 4844, this update aims to significantly reduce transaction costs and improve network performance by optimizing how data is stored and processed on the blockchain. BEP 336 introduces the concept of “Blob Transporting Transactions” (BlobTx). According to the official description, a blob is defined as a temporary and cost-effective segment of memory designed to capture large pieces of data of up to 128 KB each. These blobs were strategically prepared to facilitate the network’s transaction verification process. Instead of individually validating…
The Aptos Foundation announced an integration with Movement to establish a sophisticated routing infrastructure. On March 13, the Aptos team announced that Movement will integrate Aptos Data Availability (DA) capabilities with the Move stack and create a sophisticated routing infrastructure between the Movement blockchain. The integration will also provide a more seamless Aptos interface to the Ethereum and Ethereum Virtual Machine (EVM) networks, improving the interoperability and functionality of the Aptos networks. Aptos Foundation head of grants and ecosystem Bashar Lazaar, in a comment to crypto.news emphasized the importance of partnership with Movement: “This integration is significant because by aligning…
Blast, the recently launched layer-2 blockchain, froze up Wednesday amid Ethereum’s major Dencun upgrade. Blast, which is built atop Ethereum and therefore intrinsically linked to it, posted on X that its mainnet “has stopped producing blocks due to issues related to Ethereum’s Dencun upgrade.” Amid the snafu, Blast competitor Arbitrum announced that it will take 24 hours to integrate elements of the Dencun upgrade, which will ultimately prompt a reduction in Ethereum fees. The Blast mainnet went live on Feb. 29 after attracting $2.3 billion worth of deposits following its announcement in November. The network’s largest protocol, Orbit Finance, experienced…
Stack went to mainnet Monday as a so-called points chain, built as a layer-3 on top of Base. DeFi projects have lately been incentivizing usage on their platforms through “points,” or participation tallies that determine allocation in a future token airdrop. Crypto is adjusting to points mania. Users are gaining leveraged exposure to points on Pendle and trading points on Whales Market. DeFi-focused hedge funds are accumulating currently-valueless points on behalf of liquidity providers. Read more: DeFi ‘points’ farming has reshaped the crypto investment landscape But these points tend to live off-chain. Backed by fresh funding from investors including Archetype…
A narrative has taken root in the realm of blockchain technology, one that champions the gradual transition from centralized control to a decentralized future. Yet this story, often recited by those at the helm, overlooks a fundamental truth about power: Once seized, it is rarely surrendered without a struggle. This belief that a centralized beginning can smoothly transition to a decentralized ethos is more myth than reality, akin to convincing a child to relinquish their tight grasp on a coveted sweet. The intention here isn’t to cast venture capitalists or early stakeholders as adversaries — it’s to advocate for a…
