3 Proof-of-work protocols focused on building Web 3.0

The proof-of-work (PoW) consensus model is the mechanism that kicked off the revolution that launched Bitcoin (BTC) in 2009 and it was the model of choice behind many of the popular projects in the early fledgling years of the crypto ecosystem. As time progressed, other consensus models like proof-of-stake (PoS) rose in popularity, especially as the cost of running mining rigs, the constant need to update equipment and environmental concerns led to the PoW model falling out of favor with many. As a result, projects looking to employ a proof-of-work…

Forte Raises $725 Million for Blockchain Gaming Plans

Key Takeaways Blockchain gaming services company Forte has raised $725 million through a Series B funding round. Contributors to the funding round include Solana Ventures, Polygon Studios, Cosmos, and Animoca Brands. The company serves more than 40 game developer partners, who in turn have a total of 15 million players. Share this article Blockchain gaming solutions provider Forte announced today that it has raised $725 million in its latest funding round. Several Companies Contributed Funding Forte announced that this latest fundraiser has helped it raise more than $900 million in…

MyEtherWallet allows users to mint Ethereum blocks as NFTs

MyEtherWallet, or MEW, launched its first nonfungible token (NFT) collection called ETH Blocks on Thursday, which tokenizes individual blocks on the Ethereum blockchain. Unique images associated with ETH Blocks are generated based on the block’s data. These NFTs are available exclusively to MEW users via the MyEtherWallet website. A number of blocks have already been claimed, according to the company. Ethereum’s founders called first dibs on blocks one through 10. There are also 13 ETH Blocks representing the history of Ethereum — such as major milestones, forks and updates to the blockchain…

xDai Wants a Gnosis Merger to Stay Relevant, but Some Tokenholders Are Crying Foul

A historic, multimillion-dollar deal between a layer 1 with a devout following and a major Ethereum infrastructure builder may have hit a snag this week as some token speculators believe they may be getting shortchanged. In a governance forum proposal this week, Gnosis founder Martin Köppelmann laid out a plan that would allow the Ethereum development heavyweight to merge with xDai, a popular Ethereum sidechain for developers and one of the oldest layer 1 alternatives. The merger would combine technical savvy and major funding to create “Gnosis Chain,” a combined…

Wealth flex? Coinbase now allows users to share their crypto allocations

Any of U.S.-based crypto exchange Coinbase’s roughly 68 million verified users can now more easily make information on their portfolio public. According to a Nov. 12 Coinbase blog, senior product manager Rishav Mukherji said the crypto exchange’s app now includes a feature which shares a user’s allocation percentage — not balances — to their network of friends. He said this would just be the first move in the coming weeks for users to begin sharing additional details on trades conducted at Coinbase. “We want to empower the cryptoeconomy to share…

Look out below! Dogecoin risks further downside after a key support is tested

Dogecoin (DOGE) is potentially at risk of losing critical support if the price falls from the ascending channel traded in for the last 53 days. Although technical analysis is not an exact science, a daily close below $0.26 will likely invalidate the current movement. DOGE/USD price at FTX. Source: TradingView Aside from the Bitcoin (BTC)-driven headwinds, which are weighing on DOGE price, the meme token this week underwent a software upgrade, and users were requested to implement version 1.14.5. Two important security patches were involved: “Remote Code Execution in Dogecoin QT”…

Axie Infinity guild CGU helps players enter the fantasy play-to-earn NFT game with ‘scholarships’

Axie Infinity, a monster-battling NFT game, has been gaining a lot of traction with over $600 million Axies bought and sold in the past month. Each Axie is a nonfungible token, or NFT, minted on the Ethereum (ETH) blockchain. Similar in theme to Nintendo’s Pokemon series, Axies come in different rarity types, with varying strengths and attributes, with the strongest fetching very high prices on the game’s marketplace. Players earn Smooth Love Potions (SLPs) by completing daily quests, defeating monsters and battling other players in arenas with their Axies. SLPs can…

At least 16% of Americans have owned crypto

A survey released by the Pew Research Center on Thursday found that roughly 16% of Americans have invested, traded or used some form of cryptocurrency. The number jumps to 31% for people aged 18–29, and even higher to 43% for males in the same age bracket. Black, Hispanic and Asian participants in the study were also each more likely to have invested in crypto than those who identified themselves as white. There seems to have been no disparity by income.  Pew Research Analyst Andrew Perrin said: “We do see now…

Bitcoin Expected to Rise on Taproot Upgrade

“Bitcoin’s chart has likely become too noisy to remain a reliable indicator of the crypto market, conceding that role to ether,” Alex Kuptsikevich, an analyst at FxPro, wrote in an email to CoinDesk. “If so, a break of this strong uptrend could prove to be the first signal of a correction,” which could encourage buying on dips, Kuptsikevich wrote. Source link