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The growth of asset tokenization could contribute to greater financial stability risks from unbacked crypto and stablecoins, the Bank of England said in its Financial Stability report. Banks are becoming more positive about using crypto technologies such as programmable ledgers and smart contracts for the tokenization of money and real-world assets (RWA), the central bank said in the biannual report published Wednesday. Tokenization, the process of issuing a digital representation of an asset, is a growing part of the crypto ecosystem and is forecast to become a $10 trillion market by 2030, according to asset management company 21.co. Last month,…

Flare, the cutting-edge smart contract platform, has taken a monumental step towards revolutionizing decentralized data access by onboarding renowned infrastructure providers Ankr, Figment, Restake, and NorthStake. This collaboration signifies a paradigm shift in the blockchain landscape, as these institutional validators not only serve as validators but also as data providers for Flare‘s native oracles, marking the first instance of such integration on a smart contract platform. Flare’s innovative approach involves merging validation processes with data provision, presenting developers with an unprecedented opportunity for fully decentralized access to an extensive array of data, all at scale and with minimal cost implications.…

The NFT trading platform Tensor, which launched earlier this year, has taken the number one spot in Solana’s NFT marketplace, overtaking Magic Eden in trading volume on the network. Over the past month, Tensor has seen an NFT trading volume of over $1 million, almost double Magic Eden’s, according to analytics platform TIEXO. This means that Tensor makes up an estimated 60% of the total NFT trading market share on Solana, with Magic Eden coming in under 30% of total volume. Magic Eden still has more unique wallet users than Tensor, however, with roughly 116 thousand wallets and a 70%…

As the chill of the crypto winter begins to thaw, a wave of curiosity is sweeping over those who’ve previously eyed the market with caution. The burgeoning world of cryptocurrency, once shrouded in a veil of uncertainty, now beckons with the promise of potential. What does it hold for those daring enough to venture into this dynamic yet risky sector? Hello! I’m Zifa, a seasoned crypto enthusiast and writer. For the past three years, I’ve immersed myself in the intricate world of cryptocurrency, sharing insights and guiding new enthusiasts. As a staunch advocate for the crypto movement, I’m thrilled to…

Polygon Labs, the largest Layer-2 solution for Ethereum, continues to connect companies. It was announced that Wipro, a company earlier backed by Shell, has launched an on-chain supply chain data tracking solution which is based on the Polygon network. There are a number of shortcomings in supply chain management today, including inaccurate data entry, incompatible software systems, and fake data. With its solution, Polygon helps in improving supply chain management in the energy sector. Wipro will develop a new decentralized application known as Falcon, which will provide an end-to-end supply chain management solution. Falcon is a comprehensive platform that tracks…

As the 2023 United Nations Climate Change Conference (COP28) takes place in Dubai, United Arab Emirates, many projects participated in the climate action effort by launching blockchain-powered initiatives. From Nov. 30 to Dec. 12, diplomats and leaders from across the globe are gathering at Dubai’s Expo City to advance initiatives in climate action. Among those who participated in the event were blockchain projects, which believe that blockchain technology has the power to contribute to the climate action effort. From trying to transform waste management to tracking carbon emissions using blockchain technology, blockchain projects joined the effort to save the environment…

Xion, a blockchain that uses the USDC stablecoin as its default payment coin, has launched its testnet that focuses on “generalized abstraction,” an infrastructure solution to remove web3 user experience complexities. The network aims to onboard users without directly using wallet accounts, signatures or other typical processes. The team is eying a mainnet release in 2024. With this launch, Xion also released its whitepaper for generalized abstraction. This is an expanded form of account abstraction technology, also called smart wallets, that lets users bypass the need to download crypto wallets. The solution focuses on onboarding users onto web3 apps using…

German conglomerate Bosch, a major player in sensor manufacturing, has multiple Web3 initiatives underway. The latest is a small device capable of generating data on real world conditions such as weather, light and noise pollution, and seismic activity. Connected to Web3 rails, it’s part of a growing segment of crypto known as Decentralized physical infrastructure networks (DePIN). The new device, known as Bosch XDK110 Rapid Prototyping Kit, is a smart sensor that allows users to earn crypto rewards by providing data, without involving a centralized intermediary. Each device is outfitted with a unique digital identity that enables it to interact…

BANGALORE, India — A division of professional services firm Deloitte, one of the “Big Four” accounting firms, will use the Polkadot-based Kilt blockchain to offer logistics and supply-chain services focused on the shipping industry. Ingo Rube, founder of the KILT Protocol, told CoinDesk in a fireside chat at the India Blockchain Week conference that Deloitte is working with Nexxiot, a supply-chain technology company, to offer a new type of logistics service called KYX. KYX is a combination of Know Your Client (KYC) and Know Your Cargo – two processes that identify and verify the client’s identity and their shipped goods,…

Alvaro Fernandez, the Chief Operations Officer (COO) at Lumoz, has stated that while zero-knowledge rollups have demonstrated exceptional security and scalability, the technology is still not user-friendly. To address this issue, networks should opt for ZK Rollups-as-a-Service (ZK-RaaS) because this simplifies the creation process for a single ZK-Rollup. This makes them “more accessible for developers and projects to use,” Fernandez added. Zero-Knowledge Versus Optimistic Rollups In his written answers sent to Bitcoin.com News via Telegram, Fernandez argued that by offering what he called “a seamless experience” ZK-RaaS can also quicken the “implementation of secure and scalable networks.” While ZK-RaaS are…