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Andrew Yang, former candidate for United States president and New York City mayor and founder of the Forward Party, had sobering observations about the uses of blockchain, or its lack of use, in the United States and U.S. regulation of artificial intelligence (AI) when he spoke Nov. 16 at the North American Blockchain Summit (NABS) in Fort Worth, TX. Yang, who described himself as “enormous believer in smart money, smart currencies,” said he saw blockchain and Web3 technology in a sorry state, especially in the United States, which creates the risk of firms fleeing overseas. Part of the problem is…

Ethereum Name Service’s lead developer Nick Johnson took to social media to call out Unstoppable Domains on Thursday. Johnson penned a series of posts on X not only criticizing Unstoppable Domains for the lack of legal backing or binding behind its Web3 Domain Alliance group — which it both founded and runs — but also accused Unstoppable of patenting an innovation allegedly made by ENS. Johnson claims that ENS and Unstoppable Domains attempted to discuss the situation outside of the social media platform, but “failed” to make headway. He claims that ENS, in contrast to Unstoppable, “have not pursued patents…

Making major strides in the Web3 mobile strategy gaming market, Upland has announced the debut of Polemo Games within its virtual world. This immersive gaming platform combines the study of warfare, known as polemology, with blockchain technology and play-to-earn mechanics. With access through Upland’s virtual map that mirrors the real world, Polemo Games offers an engaging virtual environment that focuses on building community and asset ownership. Core Features and Blockchain IntegrationCentral to Polemo Games is its blockchain-driven economy. This aspect allows players to own their in-game assets, like weapons and characters, and accrue real value as they advance in the game.…

The Polygon network, a widely-used Ethereum sidechain, has experienced a record-breaking surge in daily transactions, leading to a significant increase in gas fees over the last 24 hours. Activity on the network has escalated dramatically, with transaction numbers soaring from 2.89 million to a historic high of 6.1 million from November 14 to November 15, the most since October of the previous year. This rise in network usage has precipitated a spike in transaction costs, with average transaction costs rising to over 7,000 Gwei (from 100 Gwei a day prior), before reducing to around 400 Gwei, according to Polygonscan. The…

In a fusion of sports, fashion and crypto, major crypto firm Crypto.com has teamed up with Paris Saint-Germain F.C. and Blvck Paris for an exclusive collaboration, offering fans early access to a highly anticipated fashion collection through non-fungible tokens (NFTs). Paris Saint-Germain, a leading soccer club, and Blvck Paris, an avant-garde fashion brand, have together unveiled a unique collaboration that showcases not just physical apparel, but also a digital fashion drop through hosted exclusively on the Crypto.com marketplace. ⚫ ???????????????????? ???? ???????????? ???????? is officially LIVE! https://t.co/1zo3U8ERDl pic.twitter.com/5xUoxFiezN — Blvck Paris (@BlvckParis) November 15, 2023 The NFTs are already available…

In an announcement shared with crypto.news on Nov. 15, Bitfinex Securities Ltd, the first global digital asset platform licensed and registered in the AIFC, has shared the news of its new tokenized bond, which has since gone live. The accompanying capital raise is set to run for two weeks, starting on the same day as the announcement was made. On the liquid network The pioneer tokenized bond, ALT2611, is a 36-month, 10% coupon bond denominated in USDt, issued by Alternative, a Luxembourg-based securitization fund under the management of Mikro Kapital. Quarterly coupon payments are made in USDt, with the minimum…

Crypto exchange Coinbase has developed an open source “Onchain Payment Protocol” to improve its Commerce product. The protocol currently supports the Ethereum, Polygon and Base blockchain ecosystems. “Today we are announcing a large update to our Coinbase Commerce product, now built on top of our new open source Onchain Payment Protocol, which offers instant settlement, low fees, and broad asset support to improve the payment experience for merchants and their customers,” Coinbase said Thursday. Coinbase Commerce was launched in 2018 to let merchants accept crypto payments. To date, thousands of merchants globally have received billions of dollars in on-chain payments…

Flare, the blockchain for data, has announced a strategic partnership with Bloxico, a pioneering blockchain technology company, to unveil a groundbreaking Reputation Score system on the Flare network. The collaboration aims to enhance community trust metrics through a unique blend of on-chain data and community-driven subjective measures. It comes barely a month after Flare integrated with Subsquid and the developer of Flare Network announced that more than 2% of FLR’s total supply would be permanently removed from circulation, to prevent dilution of community token holdings and increase incentives for new. Innovative platform for community trust metrics Following the partnership, Flare…

Fhenix, a potential layer-2 network that wants to bring fully homomorphic encryption (FHE) to smart contracts, has revealed a technical white paper for the first FHE rollup. FHE itself is a form of encryption that ensures the confidentiality of the data even while it’s being used, for example in smart contracts, because data can remain encrypted and processed without ever needing to be decrypted. This enables Ethereum and other EVM networks to process information privately, with potential applications related to private voting and confidential gaming — such as poker, for example. Read more: Encryption startup Fhenix raises $7M for private…

Understanding the difference between the front and back end is crucial with Web3 technology. The term “front end” describes the portion of Web3 applications that consumers interact with directly. This includes the technology’s user-facing side, websites and decentralized applications (DApps). The back end, on the other hand, refers to the complex system that supports these Web3 applications. Everything from distributed ledgers and smart contracts to consensus protocols is included here. However, accessibility and simplicity are important for the adoption of Web3. When the technical complexities of Web3 are too prominently featured on the front end — such as managing cryptographic…