Category Archives: Ethereum
Tezos Generative Art Platform fxhash Adds Ethereum in Multichain Push – Yahoo Finance
Often coined "the art blockchain," Tezos has earned this reputation thanks to at least one key platform.
Now, though, fxhash is set to also join the Ethereum ecosystem
Fxhash lets users create new iterations of generative artwork, with artists limiting the number of mints for their work. Collectors discover the specific iteration they've acquired at the reveal, adding a unique aspect to the process of collecting generative art.
The decision to expand fxhash to the Ethereum blockchain marks a significant step in the platform's evolution. Initially, fxhash chose the Tezos blockchain for its appealing proof-of-stake consensus, especially when Ethereum was still using proof-of-work.
The work of digital artist Zancan. Image: fxhash.
However, with the upcoming launch of fxhash 2.0, the platform is set to become multichain, a move influenced by requests from its partners for expansion beyond Tezos.
The implementation of fxhash 2.0 aims to break down the barriers that currently exist between chains. At present, artists can often sell their artworks at significantly higher prices on Ethereum, which also offers greater visibility for artists.
"By bringing communities together and showing artworks side by side, regardless of the chain they were minted on, we aim to elevate generative art," Charlie Middleton, the creative director at fxhash, told Decrypt. The chain doesn't matter. It's the art that matters."
Linda Dounia's IN/Visible NFT Exhibition Highlights Black Artists, AI's Skewed Lens
The platform was initially started by the artist Ciphrd. As a generative artist, he felt difficult to find a platform that could properly showcase his work. This struggle led him to create fxhash.
Since then, it has been highly community-focused.
This plays a significant role in decision-making processes, too, particularly with the upcoming fxhash 2.0.
"fxhash is the largest live repository of Generative Art, as such we can never stand still, but need to provide Artists with a wide variety of tools that we are continuously adding to in close communication with our community, said Schmidt. fxhash 2.0 is a natural consequence of that, and something our team, our partners, the community, and most importantly artists are incredibly excited about."
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The platform boasts a diverse array of talented artists, including Zancan, William Mapan, Iskra Velitchkova, Melissa Wiederrecht, Andreas Rau, and Kim Asendorf.
Some have gained significant popularity, with Zancan's "Garden, Monoliths" collection, for instance, racking up over 1.2 million XTZ in secondary market sales.
As of now, fxhash hosts around 8,000 artists or users who have minted at least one token, and it showcases two million pieces of generative art. The platform has facilitated the movement of approximately $40 million to $45 million, with the lion's share of this amount going to the artists.
The team at fxhash is currently hard at work on the Ethereum integration, with the launch of fxhash 2.0 slated for after the summer.
This will likely come with a UI and UX overhaul, too, and there are plans for events, both online and in-person, to celebrate the launch.
"Right now we've got our sights focused on an event happening in Berlin, which is related to the hackathon we've just started, said Middleton. As we get closer to the launch, we'll have a clearer idea of what we can plan."
In a world where the chain often matters more than the art, fxhash is striving to shift the focus back to where it belongs: on the artists and their creations.
"Our goal was always to build tools allowing artists and collectors to live out their passion for generative art, fxhash COO Paul Viktor Schmidt told Decrypt. We have always prioritized pushing the boundaries of what is possible, and will continue to do so.
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Tezos Generative Art Platform fxhash Adds Ethereum in Multichain Push - Yahoo Finance
How Two Canadian Teenagers Stole Bitcoin, Ethereum Worth $4M From A US Resident Pretending To Be Coinbase – Benzinga
July 5, 2023 8:38 AM | 1 min read
Two 17-year-olds from Hamilton, Ontario have been charged after allegedly stealing $4 million in cryptocurrency from a U.S. citizen.
What Happened: The authorities have revealed that the accused teenagers, operating under the aliases Felon and Gaze, exploited a spear phishing attack to deceive the victim into sharing his Ethereum (CRYPTO: ETH) and Bitcoin (CRYPTO: BTC).
Constable Krista-Lee Ernst, speaking to CBC Hamilton, explained that the attackers employed a well-known technique known as spear phishing.
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This targeted attack method involves impersonating a trusted entity to manipulate individuals into divulging sensitive information that can be leveraged to compromise their accounts.
In this specific instance, the accused teenagers assumed the identity of Coinbase Support, a prominent cryptocurrency exchange platform, to gain control over the victims crypto exchange portfolios.
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Collaborative Investigation and Arrests: The cybercrime came to light in June 2023, sparking a joint effort by Hamilton Police, the Federal Bureau of Investigation, and the Secret Service Electronic Crimes Task Force to uncover the perpetrators behind the theft.
After a thorough investigation, the two teenagers were apprehended by the authorities.
Price Action: At the time of writing, BTC is trading at $30,818, down 0.70% in the last 24 hours, according to Benzinga Pro.
Read Next: Bitcoin, Ethereum, Dogecoin Mixed As BTC Dominance Soars Above 50%: Analyst Says Solana Poised To Touch All-Time Highs Past This Key Level
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Binances Senior Executives Quit Over Changpeng Zhaos Handling Of Investigations – Ethereum World News
After facing severed banking relationships, hostile regulators, and several instances of FUD, multiple senior executives at Binance have reportedly turned in their resignations. The executives blamed their decision to quit on CEO Changpeng Zhaos handling of the regulatory inquiries and investigations into the exchanges operations. Their departure comes amid mounting regulatory and legal troubles for the worlds largest crypto exchange.
According to a report by Fortune, senior executives at Binance, including Chief Strategy Officer Patrick Hillmann, Senior Vice President for Compliance Steven Christie, and General Counsel Han Ng, informed the Chief Executive that they were quitting the company. A person familiar with the matter revealed that the executives blamed their departure on Changpeng Zhaos handling of the investigation by the US Department of Justice. The Justice Departments probe is just one of many filed by federal agencies in the United States.
Binance or CEO Changpeng Zhao have not put out an official statement addressing the news of the recent departures. However, CSO Patrick Hillmann took to Twitter to inform everyone that he was leaving the company on good terms and would continue to respect and support Zhao. The BNB token took a visible hit following the latest development and was trading at $234 at the time of writing.
The loss of key figures from legal and compliance departments will likely cause problems for the crypto giant, given that it is juggling several regulatory inquiries. The crypto exchange is currently facing probes from the Securities and Exchange Commission (SEC), and the Commodities and Futures Trading Commission (CFTC), among several other investigations. Matthew Price, Binances Chief of Global Investigations and Intelligence, also quit the company recently.
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Crypto Price Today: Bitcoin, Ethereum gain around 2%, Solana jumps over 5% – CNBCTV18
SUMMARY
Bitcoin, Ethereum and other cryptocurrencies gained on Thursday. The global crypto market cap stood at 1.21 trillion, with a volume of nearly $35.04 billion in the last 24 hours.
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Bitcoin | The world's largest and most popular virtual currency, Bitcoin, gained 2.11 percent to $31,417.7. Its market value stood at $607.83 billion. The trade volume was at $11.54 billion.
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Ethereum | The second largest virtual currency, Ethererum or Ether, gained 1.82 percent to $1,956.57 with a market capitalisation of $234.18 billion. The trade volume of Ethereum was $6.67 billion in the last 24 hours.
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Dogecoin | Meme-based virtual currency, Dogecoin, was up 0.73 percent. Its market value stood at $9.57 billion. The trade volume was at $317.20 million.
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Shiba Inu | Shiba Inu fell 0.39 percent with a market capitalisation of $4.5 billion. The trade volume was $129.65 million in the last 24 hours.
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Solana | Solana gained 5.16 percent to $20,077 with a market capitalisation of $8.13 billion. The trade volume of Solana was $409.92 million in the last 24 hours.
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Polygon | Polygon gained 0.33 percent with a market capitalisation of $6.46 billion. The trade volume was $312.66 million in the last 24 hours.
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"There has been slight selling pressure in the crypto market in the last 24 hours. However, the global crypto market capitalisation continues to be above $1.2 trillion. The crypto fear and greed index is down by 5 points but remains in the greed zone with a score of 56/100," said Shubham Hudda, Senior Manager, CoinSwitch Markets Desk
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Crypto Price Today: Bitcoin, Ethereum gain around 2%, Solana jumps over 5% - CNBCTV18
Nansen says Ethereum NFT royalties reached their lowest price – The Financial Express
According to a report from Nansen, a blockchain analytics firm, the royalties earned by non-fungible token (NFT) projects reached their lowest point in two years, stated Cointelegraph.
Sources revealed that the report also includes the low point for NFT royalties before the impact of the current drop in the floor price of Bored Ape Yacht Club NFTs as well as the debate related to the launch of the Azuki Elementals collection, Cointelegraph added.
It is believed that Nansen also includes the importance of NFT royalties to portray the studios financial foundation for ongoing development and their role in generating revenue, Cointelegraph highlighted.
Furthermore, Currently, OpenSea and Blur are on par with each other regarding the royalties paid through their respective marketplaces, with more royalties paid on Blur when the trading volume surges, Cointelegraph concluded.
(With insights from Cointelegraph)
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Nansen says Ethereum NFT royalties reached their lowest price - The Financial Express
Ethereum transactions frozen for 12 seconds – Blockworks
A recently organized team of researchers, the Special Mechanisms Group (SMG), demonstrated Thursday how to take advantage of a facet of the proposer-builder separation market to force through an Ethereum block containing just one transaction: theirs.
Proposer-builder separation (PBS) is intended to increase censorship-resistance by separating the roles of block builders and block proposers in the more-or-less unceasing Ethereum blockchain. But the group found a way to use the feature to make a very public point.
The blocks lone transaction embedded a URL to a presentation and research paper on SMGs website, describing the problem and proposing potential ways to address it.
Reactions were decidedly mixed.
Ryan Berckmans, a former software engineer at Augur, was among many who pointed out that Ethereums gas fee market would make it difficult to delay transactions using this method for long, but noted it did reveal certain problems in the way some applications on Ethereum calculate fees needed to get transactions included in a block.
The interesting thing about the quoted method is that to censor all transactions for one block, they only have to outbid priority fees.
Ethereum is designed to be credibly neutral, and therefore any time user transactions can be prevented from being included in a block, its cause for alarm.
(Technically, post-Merge theyre called slots, but the terms are interchangeable.)
But most people conceptualize censorship as preventing a transaction permanently, not merely delaying it for a short time. Its also not a new problem.
The SMG group disagrees.
When bidders in an auction, or agents in a financial system can censor their competition, the efficiency of these systems erodes, they tweeted. In other words, censorship-resistance is about more than just ensuring a transaction gets on-chain eventually. It needs to be fast.
SMGs head of research and one of the papers authors, Max Resnick, told Blockworks, we are more worried about 12 seconds being enough time to cause a problem than 10 mins, although he said the critics overestimate the cost of increasing the delay period further.
Even on a short timeframe, however, there are a lot of useful mechanisms (like auctions) that we cant build on chain because it would be easy for participants to censor their competitions bids, Resnick said.
Some use cases that dont tolerate inclusion delays could migrate to layer-2s, but not all, he said.
Lets use enshrined PBS as an example, because that is an auction that we want to run on-chain and cant really be run on a rollup.
Enshrined PBS, or ePBS, would implement PBS at the protocol level the Ethereum mainnet consensus layer but how to do this is an active research topic and remains a relatively distant prospect.
This is particularly relevant in auctions, but also applies to fraud proofs and oracle updates to a lesser extent, Resnick said.
In other words, this case implies that it may be hard to reduce the window for producing a fraud proof in optimistic rollups, although it does not impact ZK rollups.
I think if we could make the base chain more censorship resistant, then optimistic rollups would have better user experience, Resnick said.
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Ethereum founder says crypto is on the cusp of a broadband moment – Fortune
Since the collapse of FTX in November, the conversation around crypto has been dominated by dark mutterings about its demise or endless chatter over regulation. Thats why it was refreshing to speak to Joe Lubin, one of the cofounders of Ethereum who is now best known for overseeing ConsenSys, which has evolved from a chaotic crypto incubator to a software company known for the popular MetaMask wallet.
Unlike many in the industry, Lubin is brimming with optimism. He still espouses the original gospel of Ethereum, which celebrates decentralized software projects and views blockchains as a vehicle for a new political and social order beyond the reach of Big Tech. In our recent chat, he told me hes untroubled by the fallout from FTX, which wiped out the likes of Voyager, Celsius, and other centralized crypto services.
I dont consider them real crypto companies. They co-opted our messaging to cheat naive consumers, says Lubin, suggesting the troubles of the past nine months amounted in part to a healthy cleansing.
He added that the demise of the centralized services has helped true crypto companies focus and rebuild, paving the way for our broadband momentan analogy for when widespread fiber build-outs helped millions of consumers appreciate the benefits of the internet. To this end, ConsenSys is rebrandingreplete with bright new colorswith the goal of expanding its services beyond a select group of developers and end users. Lubin says the new focus will be on making crypto tools ever easier to use and empowering people of all stripes to participate in building a new version of the web, based around people, not data-gobbling monopolies.
A lot of what Lubin had to say echoes the theories put forth by venture capitalist and Web3 evangelist Chris Dixon prior to cryptos massive downturn. Im not sure how much of this I buyespecially since governments and old-line tech companies seem as powerful as ever, and as much of the public has soured on crypto. For now, it might be more prudent for the crypto industry to focus less on Web3 utopias and more on ensuring that people stop getting robbed.
That said, Lubin made a strong case that crypto is on the cusp of a new breakthrough to follow the sudden rise of DeFi and then of NFTs. He says the area to watch right now is wallets, especially as companies like Coinbase start building wallet as a service tools intended to make it easier for firms of any kind to integrate crypto into their operations. This doesnt feel far-fetched given how giant brands like Starbucks, Nike, and Reddit are also quietly using crypto and NFTs behind the scenes.
In the broader picture, though, Lubins sunny vision feels far-fetched in many regards, but if even a portion of it is true, then the crypto industry is indeed poised for another big leap forward.
A quick programming note: There will be no newsletter Monday or Tuesday given the July Fourth holiday. So have a safe and happy Independence Day, and to those of you north of the border, happy Canada Day. Go enjoy some hot dogs.
Jeff John Robertsjeff.roberts@fortune.com@jeffjohnroberts
Bitcoin has been trading in a narrow range of $1,500 since hitting a 52-week high of $31,400 a week ago, a sign of ongoing strength, analysts say. (Bloomberg)
Israel announced a first-of-its-kind operation, aided by Chainalysis and Binance, that broke up a crypto network supporting Hezbollah. (Fortune)
The crypto orb device Worldcoin is integrating with Okta, a corporate identity management service used by hundreds of millions. (CoinDesk)
In the latest setback for Binance in Europe, its banking partner Paysafe says it will no longer process crypto-to-euro transfers for the company. (Pymnts)
Fidelity filed a new application to launch a Bitcoin ETF, months after the SEC rejected an earlier bid by the giant asset manager. (Fortune)
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Ethereum founder says crypto is on the cusp of a broadband moment - Fortune
Ethereum Dencun upgrade coming; Can it send ETH to $5,000? – Finbold – Finance in Bold
After the successful deployment of the Shapella upgrade that enabled staking withdrawals, the Ethereum (ETH) development team is preparing for the launch of the Dencun upgrade, expected in late 2023, which promises to bring lots of new updates and could even lead to an ETH price hike.
Specifically, Dencun is a joint term for two major Ethereum upgrades Cancun, which is the upgrade to Ethereums execution layer (EL), and Deneb, which refers to the consensus layer (CL) upgrade, as described in an article published by Ethereum-focused cryptocurrency market news site EtherWorld on June 24.
As it happens, the Cancun upgrade introduces several Ethereum Improvement Proposals (EIPs) focused on improving storage, scalability, and optimizing gas efficiency, such as through the regulation of block rewards and delaying the gradual increase in Ethereum mining difficulty for a smooth transition to Ethereum 2.0.
At the same time, Deneb focuses on expanding the size and efficiency of the Ethereum blockchain, with one notable EIP that aims to upgrade its proof-of-stake (PoS) consensus algorithm toward increasing its power and improving user experience.
While the Ethereum crypto community eagerly awaits this major overhaul, the price of the second-largest cryptocurrency by market cap is currently $1,888.99, recording an increase of 1.13% in the last 24 hours, 0.49% across the previous seven days, and 1.19% in its monthly chart, as per data on June 30.
Taking into account all the advances and innovations that Dencun aims to unlock, the price of Ethereum could react to this major upgrade as it nears, as well as after the development team fully deploys it, particularly as the token continues to gain investors confidence as a go-to asset for passive income.
Indeed, taking into account the best-case scenario data from the historical Ethereum Rainbow price chart patterns, the price of ETH, as the end of the year nears, could actually skyrocket toward $5,000 and even end up in the zone of around $7,000. However, if a more bearish chart pattern reoccurs, then ETH could well remain in the $1,880 area.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
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Ethereum Dencun upgrade coming; Can it send ETH to $5,000? - Finbold - Finance in Bold
Joe Lubin: The SEC has spoken on Ethereums Status as a Security or Commodity – Yahoo Finance
Joe Lubin: The SEC has spoken on Ethereums Status as a Security or Commodity
Ethereum co-founder and ConsenSys founder Joseph Lubin has said that the US Securities and Exchange Commission (SEC) has already spoken on whether Ether (ETH) should be treated as a security or commodity.
In an interview with CNBC, Lubin referred to former SEC commissioner Bill Hinmans 2018 speech on crypto securities and Ethereum. However, new records show that Hinman was repeatedly forewarned by colleagues that the speech would confuse markets.
The Commodities and Futures Trading Commission (CFTC), Lubin said, viewed Ether as a commodity. The three most valuable assets, including Bitcoin, Ethereum and Tether, according to CFTC Chairman Rostin Benham, should be governed by his agency like commodities.
Gary Gensler, the current chairman of the SEC, has only publicly recognized Bitcoin as such and has refrained from declaring Ethereum to be either a security or a commodity. Legislation to clarify the situation is being drafted by Congressmen, including Cynthia Lummis and Kirsten Gillibrand, who have stated their agreement with the CFTC that Ether is a commodity alongside Bitcoin. According to Lubin, the regulatory decision that Ethereum is not a security is a "forgone conclusion."
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Joe Lubin: The SEC has spoken on Ethereums Status as a Security or Commodity - Yahoo Finance
Solana beats Ethereum in 24 hour NFT sales for the first time in history, gears up for recovery – FXStreet
Solana ranks among the altcoins labeled as securities by the US Securities and Exchange Commission (SEC). The SECs clampdown on cryptocurrencies triggered a steep decline in SOL price and resulted in a delisting of the altcoin across crypto exchanges.
The total NFT sales on Solana exceeded that on Ethereum for the first time in the two altcoins history.
Also read: Attorney John Deaton says Judge Torres decision on SEC vs. Ripple is important to crypto for this reason
The total volume of NFT sales on the Solana blockchain crossed $25.5 million, based on data from tracker Sol Bulletin. At the same time, the NFT trade volume on the Ethereum blockchain exceeded $24.5 million, lagging behind Solana by nearly a million.
NFT sales volume by blockchain
For the first time in the history of the two altcoin blockchains, Solana outperformed Ethereum. This is a key milestone for SOL as the asset is tackling selling pressure from the SECs crackdown and series of delisting across crypto exchanges and social trading platforms.
Solana price failed to catch up with the surge in the altcoins NFT trade volume. Interestingly, the DeFi protocols building on the Solana ecosystem are no match for Ethereum, therefore the NFT sales volume supported the theory of rising adoption and utility of the SOL blockchain.
DeFi data tracker DeFiLlama pegs the total volume locked (TVL) in the Ethereum blockchain at $26.7 billion, while for Solana it is a meager $265.57 million. If the NFT trade volume on the Solana blockchain continues rising, there is a likelihood of the protocols TVL climbing in the long term, fueling SOL price recovery.
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