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Blockchain As announced by Cardano developer Input Output, following the release of a toolkit for building sidechains, a public test network of the proof-of-concept sidechain built on Ethereum Virtual Machine (EVM) is now live. As clarified, the proof-of-concept test network is ephemeral and will be reset periodically during the pilot phase. All interested community members and stake pool operators on Cardano are invited to connect their wallets, test the network and interact with smart contracts and decentralized applications. This is not the first such solution that combines the Ethereum and Cardano networks. For example, Milkomeda, Cardano’s EVM-compatible sidechain, has been…

NFT On Tuesday (7 February 2023), Binance Research, the research division of Binance, the largest cryptocurrency exchange by trading volume, delved into the topic of Bitcoin NFTs. In a Twitter thread posted earlier today, Binance Research said that traditionally, the Bitcoin blockchain was only used for payment transactions, but recently a new protocol known as the Ordinals protocol has emerged, introducing on-chain, Bitcoin-native NFTs. Before the advent of Ordinals, those seeking NFTs would have to turn to smart-contract platforms like BNB Chain or Ethereum. The Ordinals protocol, however,” creates unique digital artifacts that can be held and transferred across the…

Crypto.com has announced an MOU with Studio Dragon to promote the incorporation of K-content into NFTs.The global platform will collaborate with Studio Dragon to exhibit their drama IP as NFTs. The first project will be the launch of the “Crash Landing on You” and “Start-Up” editions of Studio Dragon’s art toy “DearRo” on February 8th. The collaboration is part of Crypto.com’s mission to help Korean culture and art go mainstream.DearRo NFTs“DearRo” is a dragon-inspired art toy that enjoys K dramas and enjoys dressing up as the main characters from popular Korean dramas. The collection of 500 NFTs includes two global…

Blockchain To help businesses that may not be as crypto– or tech-savvy as others provide a user-friendly, quick, and secure blockchain-powered experience, Fuse Network has introduced a payments network tailored to mainstream company adoption. On February 7, Fuse which seeks to be the most business-friendly blockchain environment for the mainstream adoption of Web3 payments, the release of Fuse 2.0 to address obstacles cryptocurrencies face on the path to widespread adoption, as per a press release shared with Finbold. Specifically, Fuse 2.0 provides a technological stack that is compatible with mobile devices in order to open up new Software as a…

Blockchain Metamask Snaps aims to facilitate a ‘multichain future,’ allowing the Ethereum-based wallet service to support non-native blockchains and tokens for the Web3 economy. Details of the latest in-development addition to Metamask’s growing ecosystem were unpacked at the StarkWare Sessions event in Tel Aviv, Israel, in Feb. 2023. Speaking to Cointelegraph Magazine editor Andrew Fenton, Alex Jupiter, the senior product manager at Metamask Snaps, revealed details about potential blockchain synergies. The last 18 months have seen the development of Snaps speed up after the success of Metamask Swaps, which brought token swap functionality to the service’s native browser extension. As…

The U.K. outline of the future financial services regulatory regime for crypto covers a broad range of topics, from the troubles of algorithmic stablecoins to nonfungible tokens and initial coin offerings. And it’s certainly good news for the industry, as the upcoming regulation doesn’t propose a ban on algorithmic stablecoins or excessive requirements on data sharing for digital asset operators. The Australian consultation paper on “token mapping” is a foundational step in the government’s multistage reform agenda to regulate the market. Based on the “functional” and technology-neutral method, the paper proposes several basic definitions for all things crypto. Its taxonomy…

The creator of the nonfungible token collection Bored Ape Yacht Club has settled a lawsuit with one of the developers behind a copycat collection known as RR/BAYC. On Feb. 6, Yuga Labs settled a lawsuit that involved Thomas Lehman, the developer of websites and a smart contract that sold “misleading” BAYC NFTs from digital artist Ryder Ripps.The firm behind the blue-chip collection sued Lehman in January for his involvement witand technical support of the collection of mimic monkeys.According to the suit, Lehman assisted Ripps and Jeremy Cahen to develop and promote the NFTs on social media. It claimed that this was…

The Bank of Italy is looking for new ways to apply distributed ledger technology (DLT) and is preparing for the advent of Markets in Crypto-Assets (MiCA) regulation, bank Governor Ignazio Visco told a congress of Assiom Forex, the Italian financial markets association, on Feb. 4. DLT may offer benefits such as cheaper cross-border transactions and increased financial system efficiency, Visco said. The Italian central bank “is focused on the need to identify areas” where DLT can contribute to financial stability and consumer protection. Visco expressed the desire to see regulations that sort out the crypto-asset market to separate “highly risky instruments…

NFT Singapore-based cryptocurrency exchange Crypto.com has partnered with Korean drama distributor Studio Dragon to issue non-fungible tokens (NFTs) inspired by popular Korean drama series, including the hit Crash Landing on You, the exchange said on Monday. See related article: Netflix K-drama hit Extraordinary Attorney Woo to launch NFT project with Polygon Fast facts The pair on Feb. 8 plan to release the first batch of NFTs of special editions of Studio Dragon’s art toy DearRo based on two popular Korean drama series Crash Landing on You and Start-Up. KOSDAQ-listed Studio Dragon, a K-drama production and distribution company under Korean entertainment…

John Ray, who took over as CEO of crypto exchange FTX, has described some of the chaotic experiences at the firm following the company declaring bankruptcy.In testimony for FTX’s case in the United States Bankruptcy Court for the District of Delaware on Feb. 6, Ray said he and other professionals had “carefully” been conducting an investigation into FTX’s activities, due to the company having no physical office. The FTX CEO seemed to be pushing back against a motion to assign an independent examiner to the bankruptcy case, claiming that “inadvertent errors” could result in “hundreds of millions of dollars of…