Category Archives: Smart Contracts
Suilend Expands to Sui Network – Crypto Times
Suilend, a blockchain protocol for lending with over $200 million of total value locked (TVL) has entered the Sui Network. This step is the first time when Suilend is making the first step outside the Solana ecosystem.
Sui Network is a platform that employs blockchain technology to have its total value lock (TVL) of above $500 million recently. Sui getting Suilend is viewed as a major stride to advance the DeFi space on Sui since it imports Suilends competence and experience of constructing stablecoin protocols into the Sui ecosystem.
Suilends introduction to Sui community is a great move as Sui gives secured operation. The Sui platform language comes out of the box with a built-in security for smart contracts, and Zellic, Ottersec, and other security firms audit the projects like Suilend.
Sui also has the fast transaction ability that enables the system to handle a large number of transactions within a few seconds to seconds. However,it also offers the least latency in the industry, and its scale is capable of handling up to 297,000 transactions per second due to its horizontal scaling.
We are delighted to welcome a protocol with the background of performance and success of Suilend to the Sui ecosystem, said Greg Siourounis, Managing Director of the Sui Foundation. Suis blistering transaction speeds, infinite scalability and pervasive efficiency are tailor-made for DeFi projects like Suilend, and we look forward to watching their continued growth and success on Sui.
The coming launch is anticipated to reinforce Suis authority in the DeFi ecosystem with a continuous and increased activity.
Also Read: DeFi Ecosystem Rebounds, TVL Soars Past $100 Billion
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Select These Powerful Platforms for Developing Smart Contracts and Decentralised Applications – Open Source For You
Smart contracts and decentralised applications are helping revamp finance and supply chains, as well as improve healthcare services. Lets dive into the cutting-edge programming platforms that help them do this.
Blockchain technology has revolutionised the conduct of transactions by establishing a decentralised and secure framework. Blockchain serves as the underlying technology for decentralised systems, offering transparency, immutability, and security. Initially known for its association with cryptocurrencies like Bitcoin, blockchain technology has evolved to find applications across diverse industries. The distributed ledger system ensures all network participants access the same information, eliminating intermediaries and reducing fraud risks.
At its core, blockchain is a decentralised and distributed ledger that ensures secure and transparent record-keeping. Its primary use case was cryptocurrencies, notably Bitcoin, providing a transparent and tamper-proof method of conducting financial transactions. Beyond finance, blockchain has found applications in supply chain management, where its decentralised nature enhances traceability and reduces fraud. In healthcare, it facilitates secure and interoperable sharing of patient data, improving the efficiency of healthcare systems. Blockchains potential extends to voting systems, intellectual property protection, and more, showcasing its versatility in fostering trust, transparency, and efficiency in diverse sectors.
A significant innovation in blockchain technology is the creation of self-executing agreements referred to as smart contracts, which are directly encoded into the system.
Smart contracts are self-executing programs with predefined rules and conditions, deployed on a blockchain. These contracts automate and enforce the terms of agreements, cutting out the need for intermediaries and reducing the risk of errors or fraud. Decentralised applications, or dApps, are software applications that operate on a decentralised network of computers. Smart contracts are integral to the functionality of many dApps, providing a trustless and efficient way to execute code securely.
Decentralised applications leverage the decentralised nature of blockchain to provide users with transparent, secure, and censorship-resistant experiences. These applications operate on a peer-to-peer network, ensuring that data remains tamper-proof and resilient to single points of failure. As the adoption of smart contracts and dApps continues to grow, their transformative impact on traditional business models becomes increasingly evident, ushering in a new era of decentralised and trustless interactions.
The development of smart contracts and dApps relies heavily on sophisticated programming platforms. These platforms serve as the foundation for crafting secure, efficient, and decentralised solutions.
As the blockchain ecosystem expands, a diverse array of programming platforms has surfaced, each contributing to the evolution of smart contract and dApp development methodologies.
URL: ethereum.org
Ethereum is a pioneer in smart contract platforms and remains a dominant force in the space. Developers can use the Ethereum Virtual Machine (EVM) to deploy smart contracts written in languages like Solidity. Born out of the vision of Vitalik Buterin, Ethereum has introduced a versatile blockchain that extends beyond the limitations of Bitcoin, allowing developers to create complex dApps and execute smart contracts. Ethereums blockchain serves as a decentralised and secure global computer, enabling a myriad of use cases across various industries. One notable application lies in the financial sector, where it facilitates the creation of decentralised finance (DeFi) platforms, offering services such as lending, borrowing, and decentralised exchanges. Additionally, it finds applications in supply chain management, healthcare, and identity verification, bringing transparency, security, and efficiency to traditional processes. Its open source nature has fostered a vibrant community of developers continuously innovating and expanding the platforms capabilities, making Ethereum a cornerstone in the evolution of blockchain technology.
URL: binance.org
Binance Smart Chain (BSC) is a blockchain network compatible with the Ethereum Virtual Machine. It offers fast and low-cost transactions, making it an attractive option for developers. The platform supports various programming languages, providing flexibility in smart contract development. Offering a range of use cases, it is particularly renowned for the Binance Smart Chain (BSC), which facilitates the development of decentralised applications and the execution of smart contracts. BSC has gained widespread adoption due to its compatibility with the Ethereum Virtual Machine (EVM), enabling developers to seamlessly migrate and deploy existing Ethereum-based projects on Binance Smart Chain. Moreover, Binance blockchain has carved a niche in the realm of decentralised finance (DeFi), providing a secure and efficient environment for various financial services, including token swaps, lending, and yield farming. Its low transaction fees and high throughput contribute to an ecosystem that appeals to developers and users alike, fostering innovation and accessibility within the blockchain space.
URL: polkadot.network
Polkadot is a multi-chain network that facilitates interoperability between blockchains. Developers can create custom blockchains, including those tailored for smart contracts, using the Substrate framework. Its unique design allows different blockchains to communicate and share information securely. Founded by Dr Gavin Wood, one of the co-founders of Ethereum, Polkadot introduces a unique multi-chain architecture that facilitates interoperability between multiple blockchains. Unlike traditional blockchains, it supports the seamless transfer of data and assets across various chains, fostering a more interconnected and scalable ecosystem. This interoperability feature has broad implications, enhancing communication and collaboration between different blockchain networks. Polkadots relay chain and parachain structure enable greater flexibility in designing customised blockchains, each tailored to specific use cases. Use cases for Polkadot span a wide range of industries, including finance, supply chain, healthcare, and more. By addressing the challenges of scalability, interoperability, and customisation, Polkadot is playing a pivotal role in advancing the capabilities of decentralised applications and the broader blockchain ecosystem.
URL: cardano.org
Cardano is a blockchain platform that aims to provide a more secure and scalable infrastructure for the development of smart contracts and decentralised applications. It uses the Haskell programming language for smart contract development. Launched with a research-driven methodology, Cardano distinguishes itself by incorporating academic peer-reviewed research into its development process. The platform operates on a layered architecture, separating the settlement and computation layers, aiming to enhance scalability and flexibility. Cardanos native cryptocurrency, ADA, facilitates secure and transparent transactions within its ecosystem. With a focus on sustainability, interoperability, and regulatory compliance, Cardano seeks to address challenges prevalent in the blockchain space. The use cases for Cardano span a variety of sectors, including finance, identity verification, supply chain management, and governmental services. Its commitment to academic rigour and a comprehensive development strategy positions Cardano as a promising player in the blockchain realm.
URL: neo.org
NEO is a blockchain platform that supports smart contracts. Developers can use languages like C#, Java, and Python for creating smart contracts on the NEO platform. Founded with the vision of establishing a more scalable and user-friendly blockchain ecosystem, NEO supports multiple programming languages, including C#, Java, and Python, making it accessible to a broad range of developers. One of NEOs key strengths lies in its ability to facilitate the creation of decentralised applications (dApps) and smart contracts in a highly efficient and secure manner. NEOs use cases extend across various industries, from finance to supply chain management, where its advanced features, such as a Byzantine fault-tolerant consensus mechanism and a unique delegated Byzantine Fault Tolerance (dBFT) consensus algorithm, contribute to the platforms reliability and robustness.
URL: avalabs.org
Avalanche supports the creation of interoperable and highly scalable applications. Recognised for its unique consensus protocol called Avalanche Consensus, the platform distinguishes itself by providing high-throughput, near-instant transaction finality, and robust security. Avalanche stands out as a leader in the blockchain space due to its ability to support custom blockchain networks and facilitate the creation of decentralised applications (dApps). The platforms flexibility, scalability, and interoperability contribute to its growing popularity among developers and enterprises.
URL: tezos.com
Tezos is a self-amending blockchain platform that supports smart contracts and decentralised applications. It utilises the Michelson programming language for smart contract development.
URL: algorand.com
Algorand is a blockchain platform that focuses on high-performance and decentralised applications. It uses a unique consensus algorithm called Algorand Consensus.
URL: tron.network
Tron is a blockchain platform known for its emphasis on content and entertainment applications. It supports the creation of decentralised applications and smart contracts.
URL: eos.io
EOS is a blockchain platform that aims to provide a user-friendly environment for building decentralised applications. It uses a delegated proof-of-stake consensus mechanism.
Exploring these platforms allows developers to choose the one that best aligns with their project requirements, programming preferences, and scalability needs. The blockchain landscape continues to evolve, and each platform contributes to the diversity and innovation within the decentralised application development space.
The scope for research and development in smart contract programming is vast. New platforms are emerging, each with its unique features and advantages. Researchers can explore areas such as scalability, privacy, and sustainability within smart contract platforms. Interoperability between different blockchain networks is another exciting avenue for development. By contributing to the open source community, developers can shape the future of decentralised applications and smart contract programming.
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zkLink Nova Launches Mainnet, The First ZK Stack-based Aggregated Layer 3 Rollup Built on zkSync – InvestorsObserver
zkLink Nova Launches Mainnet, The First ZK Stack-based Aggregated Layer 3 Rollup Built on zkSync
2024-03-11 12:00:55 ET
Singapore, Singapore, March 12th, 2024, Chainwire
In an unprecedented leap forward for the blockchain industry, zkLink is proud to announce the public mainnet launch of zkLink Nova, the industrys first Aggregated Layer 3 zkEVM rollup network based on zkSyncs ZK Stack & zkLink Nova. zkLink Nova unifies liquidity and assets from Ethereum and Layer 2 rollups onto one interoperable platform, providing developers with a zkEVM-compatible decentralized application (dApp) deployment through the ZK Stack Hyperchain.
Being an Aggregated Layer 3 Rollup, zkLink Nova addresses the three major roadblocks that have restricted scaling across the Ethereum ecosystem liquidity fragmentation across Layer 2 blockchains, complexities associated with multi-chain dApp development, and poor user experience due to the isolation of assets and applications across chains.
The cornerstone of the zkLink Nova mainnet is its comprehensive integration with leading Layer 2s, including Arbitrum, Linea, Manta, Mantle, and zkSync. zkLink Nova acts as a connective layer between the Layer 2 Rollups, enhancing liquidity and asset transfers across the Ethereum ecosystem.
By leveraging the strengths of zkSyncs ZK Stack & Lineas ZK Proof-verification capabilities, Nova is stack agnostic and is able to connect to any ZK & OP Layer 2, said Vince Yang, CEO and co-founder of zkLink. This represents a major milestone for both zkLink and the wider Ethereum ecosystem as DApps will have access to broader liquidity and more users, potentially unlocking exciting new use cases for their existing L2 assets.
The integration of Layer 2s with zkLink Nova underscores a shared vision for a more unified and efficient blockchain ecosystem. zkLink Novas role in pioneering the Aggregated Layer 3 concept is the answer to the Layer 2s dire need for more interconnection among ecosystems. The general purpose architecture in zkLink Novas Aggregated Layer 3 enables developers to easily build, deploy and scale dApps using Solidity smart contracts, saving them time and resources.
Novas Aggregated Layer 3 environment removes bridges and gas fees from the equation, reducing security risksand improving user experience. By utilizing ZK Proofs in its architecture, every transaction on Nova undergoes verification before it is processed, giving the zkLink Nova mainnet Ethereum grade security.
The Nova Aggregated Layer 3 mainnet utilizes Linea as the primary rollup for ZK proof-verification through zkLinks Nexus settlement layer technology. Being secure, EVM-equivalent and cost effective, Nova leverages Lineas ZK-Rollup for faster multi-chain state synchronization and hard finality that settles on the Ethereum network, said Linea Product Lead, Declan Fox.
For DApp users, zkLink Nova removes complexity and simplifies asset transfers across Ethereum and Layer 2s while keeping transactions secure. DApp users can directly deposit their assets from Ethereum or any of the integrated Layer 2s into zkLink Novas unified platform to transact seamlessly or interact with its ecosystem of dApps, greatly enhancing the user experience for all.
The mainnet launch of zkLink Nova is the first of its kind in solving Ethereums liquidity fragmentation problem while simplifying multi-chain complexities. By uniting major Ethereum Layer 2s together, zkLink Nova is taking the lead towards advancing blockchain of value, realizing a unified and interoperable rollup ecosystem with greater capital efficiency for all users.
Dedicated to unifying liquidity and scaling the Ethereum ecosystem, zkLink is pioneering Aggregated Rollup solutions to bridge the ecosystem siloes within the blockchain space. By facilitating a more interconnected, efficient, and accessible digital asset environment, zkLink is driving forward the vision of a unified and decentralized blockchain ecosystem without boundaries.
zkLink Nova is the pioneering Aggregated Layer 3 Rollup zkEVM network that brings unprecedented liquidity and asset aggregation to Ethereum and its Layer 2 Rollups. Built with ZK Stack and zkLink Nexus, it leverages ZK Proofs to enhance scalability and security. Developers enjoy an open platform for deploying Solidity smart contracts and instantly tapping into integrated networks like Arbitrum and zkSync. Nova simplifies DeFi by presenting a unified ecosystem for users and DApps, promoting a seamless blockchain experience.
Links
Contact
Jake Morakis zklink@mgroupsc.com
The post zkLink Nova Launches Mainnet, The First ZK Stack-based Aggregated Layer 3 Rollup Built on zkSync appeared first on Invezz
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Two-thirds of EVM smart contract deployments in 2024 are from Optimism: Report – Blockworks
A Flipside Crypto report shows that over 637 million Ethereum Virtual Machine (EVM) smart contracts have been deployed across seven layer-2 blockchains since January 2022.
EVM-compatible smart contracts refer to software that the computing state of the Ethereum blockchain can understand.
With scaling solutions becoming more efficient and accessible, fewer EVM contracts are directly deployed on the Ethereum blockchain. With the Dencun update around the corner which will introduce blob transactions and other infrastructure upgrades this trend is likely to accelerate.
With layer-2s able to only publish critical data to ETH layer-1, the costs for interacting with layer-2s should significantly decrease. This enables much more creativity in protocol development, a much easier experience for users to have complex transactions abstracted away from them and ultimately lowers the costs for layer-2s to interoperate with each other, Carlos Mercado, a data scientist at Flipside Crypto told Blockworks.
Read more: Ethereum devs debate future of account abstraction
Leading this movement today is Optimism, an Ethereum optimistic rollup layer-2, which currently stands out as the most popular blockchain for deployments, accounting for over two-thirds (~70%) of the total EVM smart contract deployments so far this year. According to Flipside Crypto, the chain has seen over 28.8 million EVM deployments since Jan.1.
However, for non-EVM smart contracts, Polygon and BNB smart chains (BSC) remain the most popular deployment chains. On Sept. 6 of last year, BSC saw 5.3 million contracts deployed, the most deployments seen on a chain ever, though this number quickly trailed off around Sept. 13.
DeFi smart contracts have been the most popular for developers across all chains this year, accounting for roughly 34.7% of all deployments that can be categorized. This number is roughly 11.2% higher than in 2022 and 2023.
By contracts, NFT smart contracts, which drove the bull market between 2021 and 2022, have become less popular over time. Deployments decreased from 18.6% to 8.2% in the same period.
Read more: Stellar sparks smart contract upgrade and its not an EVM
Mercado notes that this can be interpreted as both positive and negative.
The positive argument is that the space is finding product market fit, theres more tokens than ever and new primitives that enable lending, borrowing, options, perpetuals, oracles for more assets than ever, Mercado said.
He adds, the somewhat negative argument is that given more money [is] flowing to more blockspace, fragmentation of liquidity is forcing more (arguably unproductive) activity: bridging and swapping for arbitrage as opposed to individuals specific desire to be on a chain or have a token.
Mercado acknowledges both sides of the argument but notes his bias towards the space evolving faster than it is fragmenting.
Read more: zkLinks Nexus wants to solve liquidity fragmentation between ZK ecosystems
Uncategorized smart contracts, or those classified as other by Flipside Crypto, are by far the most commonly deployed smart contracts. They make up 93.8% of all smart contracts deployed across the observed chains.
This number is significantly higher than it was in 2022, where these smart contracts made up an estimated 37% of deployed contracts. Its also a little higher than in 2023, where these smart contracts made up around 86% of all deployments.
While it is difficult to draw clear conclusions from this wide-ranging category, this figure, coupled with the growing proportion of dapps across all chains, suggests more experimentation and diversification at the protocol level, Flipside Crypto wrote.
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Two-thirds of EVM smart contract deployments in 2024 are from Optimism: Report - Blockworks
Top 10 Intriguing Ways To Capitalize On The Powerful Smart Contracts Technology – Blockchain Magazine
March 5, 2024 by Diana Ambolis
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Smart contracts are self-executing contracts with the terms of the agreement directly written into code. These programs run on blockchain technology, enabling automation, transparency, and trust in various contractual processes. Introduced by Nick Szabo in the 1990s, the concept gained practical application with the development of blockchain platforms, most notably Ethereum. The fundamental principle of
Smart contracts are self-executing contracts with the terms of the agreement directly written into code. These programs run on blockchain technology, enabling automation, transparency, and trust in various contractual processes. Introduced by Nick Szabo in the 1990s, the concept gained practical application with the development of blockchain platforms, most notably Ethereum.
The fundamental principle of a smart contract is to automate and enforce the terms of an agreement without the need for intermediaries. Traditional contracts often require manual verification, legal enforcement, and can be prone to disputes. contracts, on the other hand, execute automatically when predefined conditions are met, reducing the potential for errors and disputes.
Also, read- The Impact Of Blockchain Technology In The Legal Industry, Including Smart Contracts And Digital Identities
Contract technology holds immense importance due to its transformative impact on various industries, offering numerous benefits that enhance efficiency, transparency, and trust in contractual processes. Here are some key aspects highlighting the importance of smart contracts:
Capitalizing on the powerful capabilities of contract technology requires a strategic approach. Here are ten ways businesses and individuals can leverage smart contracts to their advantage:
In conclusion, the transformative power of contract technology opens up a myriad of opportunities for businesses and individuals across various sectors. By capitalizing on the capabilities of smart contracts, entities can revolutionize traditional processes, enhance efficiency, and foster a more transparent and decentralized approach to transactions.
contracts offer the potential to reshape the financial landscape through decentralized finance (DeFi) platforms, providing new avenues for lending, borrowing, and liquidity provision without the need for traditional intermediaries. The automation of payments, escrow services, and supply chain processes can streamline operations, reduce costs, and improve overall efficiency.
Tokenization of assets, facilitated by smart contracts, introduces novel possibilities for fractional ownership and increased liquidity in traditionally illiquid markets such as real estate and art. The insurance industry can benefit from the automation of claims processing, resulting in faster settlements and improved customer satisfaction.
The integration of smart contracts into legal processes and the creation of decentralized autonomous organizations (DAOs) showcase the versatility of this technology in governance, compliance, and collaborative decision-making. Real estate transactions become more streamlined and accessible, and cross-border transactions can be executed more efficiently.
However, while the potential benefits are substantial, its essential to approach the implementation of smart contracts with a clear understanding of the specific use case, potential challenges, and legal considerations. Staying abreast of evolving regulatory frameworks and prioritizing security best practices are paramount to ensuring the successful and secure deployment of smart contract solutions.
As smart contracts continue to evolve and gain wider acceptance, their impact on industries and everyday transactions is poised to grow, bringing about a new era of efficiency, transparency, and trust in the digital economy. Entities that strategically leverage smart contracts stand to gain a competitive edge and position themselves at the forefront of the ongoing technological revolution.
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Dencun upgrade to further reduce Ethereum’s dominance and accelerate layer-2 solutions, Flipside says – crypto.news
With most smart contracts no longer deployed on Ethereum, analysts expect the Dencun upgrade to further boost this trend as layer-2 solutions improve.
Ethereum is quickly losing its status as the top hub for deploying smart contracts amid growing competition among layer-2 networks (l2), analysts at Flipside revealed in a recent research report. According to their data, nearly 640 million smart contracts have been deployed since January 2022, with Polygon and BNB Chain (formerly Binance Smart Chain) leading in contract deployments.
Moreover, Flipside says Optimism, a layer-2 solution which operates on top of Ethereums architecture, has accounted for two thirds of total EVM smart contract deployments so far in 2024.
As the majority of EVM contracts are no longer deployed directly on Ethereum, we expect the forthcoming Dencun upgrade to further accelerate this trend as L2 solutions become more accessible and efficient.
Flipside
Analysts noted that contract deployers have also surged, making up 34.7% of categorizable deployers across observed chains since Jan 1, marking a significant increase from 11.2% in both 2022 and 2023. However, Flipside pointed out that it isnt just developers that can deploy contracts, adding that smart contracts can also deploy contracts.
For instance, Factories like UniswapV2Factory allow anyone to create liquidity pools for their tokens permissionlessly. This tends to lead to deployments consolidating around deployers like these.
Flipside
In the meantime, deployers related to non-fungible tokens (NFTs) saw a decline from 18.6% to 8.2% over the same period, analysts said, suggesting that the next bull run might prioritize decentralized finance over NFTs, which dominated the previous cycle.
In January, Michael Novogratzs crypto bank Galaxy Digital said in a research report that 2024 will be a crucial year for Ethereum, as other layer-1 blockchains such asSolana will likely raise the stakes.
Galaxy Digital analysts note that Ethereums modular architecture, particularly various rollup types, will introduce new challenges and technological risks due to their early stage of development. Singling out Solana as the most distinctive general-purpose blockchain embracing a monolithic architecture, they position it as the primary competitor against Ethereum.
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How High Can Stacks (STX) Go? Building the Future of Bitcoin with Advanced Smart Contracts – DataDrivenInvestor
16 min read
Stacks is a decade-old blockchain project that aims to establish a decentralised economy on top of Bitcoin.
See my YouTube dive on Stacks here.
As the largest Bitcoin Layer 2 network focusing on smart contracts, Stacks is slated to complete the final piece of a long-standing puzzle plaguing Bitcoin with its upcoming sBTC hard fork. This upgrade introduces a decentralised two-way peg, addressing the Bitcoin write problem.
With sBTC, developers will finally be able to utilise Stacks Clarity programming language to write fully-expressive smart contracts and build cutting-edge decentralised apps (dApps). This enables a vibrant DeFi, NFT, and web3 scene on Stacks, with dApps utilising Bitcoin as a settlement layer.
In short, Stacks is furnishing Bitcoins unparalleled capital, security, and network effects with advanced smart contracts functionality. These are capabilities that builders and web3 users have previously relied on through Ethereum Layer 2 solutions like Arbitrum, sidechains like Polygon, and competing Layer 1 networks like Solana.
Well, the big brother is about to catch up.
In this article, Ill dive into:
Theres a lot to cover, so lets dive in.
Stacks began in 2013 as Blockstack in Princetons computer science department, founded by two PhD students
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Introducing BounceBit testnet: BounceClub East-to-West Event – Cointelegraph
BounceBit introduced early access with The Water Margin Event on January 30, 2024, inviting early contributors to boost Total Value Locked (TVL) and earn BounceBit points in return. Achieving remarkable milestones, BounceBits TVL soared to over $600 million within a month, complemented by securing $6 million in seed funding from leading investors Blockchain Capital and Breyer Capital. Today, we are thrilled to unveil our latest achievement: the BounceBit Testnet is officially live! Users are invited to enjoy an early experience of BounceClub and engage in staking on the BounceBit Testnet. Lets dive into the features and opportunities BounceBit Testnet brings.
The guiding philosophy of BounceBit is deeply motivated by Apple Inc.s spirit of innovation and commitment to user-centric design. Apples success is attributed not only to the functionality of their products but also to their elegant design and user-friendly interface.
Inspired by Apples business model, BounceBit aims to revolutionize traditional onchain development methods by introducing the concept of BounceClub and BounceBit App Store. As an integral part of the BounceBit ecosystem, BounceClub is designed to simplify smart contract deployment for everyone and minimize dApp redundancy.
BounceClub serves as a Web3 hub enabling everyone to craft their own onchain space without any coding requirements. A BounceClub owner can customize their BounceClub by simply selecting protocols that are listed on the BounceBit App Store, just like downloading apps from the App Store on your iPhone. The BounceBit App Store functions as a library of Web3 plugins where developers are welcome to apply for listing their smart contracts, just like publishing apps on iOSs App Store. Users who do not own a BounceClub can browse existing BounceClubs and engage in various Web3 activities to earn yield.
The BounceBit Testnet launch introduces multiple features: The BounceClub event, offering early access to BounceClub; BBScan, the explorer that tracks all activities on the BounceBit network; Dual-token staking, allowing users to stake BounceBits native token $BB and BounceBits uniformly mapped BTC $BBTC.
The BounceClub Event is centered around the theme Building on Bitcoin: From East to West, emphasizing a global effort to expand and innovate within the Bitcoin ecosystem. This theme underlines the initiative to unite developers, enthusiasts, and contributors from diverse regions in shaping the future of Bitcoin-centric development and applications.
To explore any of the Testnet features, youll need to get $BB tokens first from BounceBitsdiscord channel. Everyone is welcome to participate in the BounceClub event as either a BounceClub owner or a BounceClub user. Heres how it works:
There will be two sets of Testnet leaderboard tracking the level of engagement. One leaderboard ranks BounceClub Owners based on the total amount of transactions made in their Clubs, while the other one ranks BounceClub Users based on the amount of transactions made by each user.
Advancing on the Testnet leaderboards brings numerous rewards upon the BounceBit Mainnet Launch in April. Notably, the top 6000 BounceClub Owners on the Testnet leaderboard will be eligible to claim the exclusive 6000 Mainnet BounceClubs when BounceBit Mainnet launches.
The Testnet BounceClub Event supports a variety of tokens that are mirrored from multiple platforms for users to engage in the DeFi activities within BounceClubs. The list of mirrored tokens includes:
More smart contracts and assets will be added to this list soon!
BounceBit is building a BTC restaking infrastructure that provides a foundational layer for different restaking products, secured by the regulated custody of Mainnet Digital and Ceffu. The BounceBit chain, designed as a showcase of a restaking product within the BounceBit ecosystem, is a PoS Layer 1 secured by validators staking both BTC and BounceBits native tokenA dual-token system leveraging native Bitcoins security with full EVM compatibility. Critical ecosystem infrastructure like bridges and oracles are secured by restaked BTC. Through an innovative CeFi + DeFi framework, BounceBit empowers BTC holders to earn yield across multiple networks.
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This publication is provided by the client. Cointelegraph does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. Cointelegraph is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Introducing BounceBit testnet: BounceClub East-to-West Event - Cointelegraph
Ethereum Aims For $10000, Driven By 2 Key Factors, According To Experts – TradingView
Ethereum is emerging as the vanguard for a revolutionary financial system. Advocates of the second most valuable blockchain extol the virtues of smart contracts, envisioning a future marked by market transparency, tokenized funds, and expeditious settlement times.
At the time of writing, Ether was trading at $3,780, up 2% and 8% in the daily and weekly timeframes, data from Coingecko shows.
Ethereums Untapped Institutional Potential
Experts argue that Ethereum is yet to undergo its institutionalized hype cycle, lagging behind the fervor witnessed by Bitcoin.
Robby Greenfield, the visionary co-founder and CEO of Umoja Labs, foresees a significant uptick in institutional interest in Ethereum, particularly fueled by the impending Bitcoin halving and the cascading inflows from Bitcoin ETFs.
Greenfields bold prediction places Ethereum on a trajectory to narrow the gap with Bitcoins gains, asserting that the cryptocurrency could surpass the $10,000 milestone this year.
Institutional investors, he believes, will play a pivotal role in propelling Ethereum to new heights, bringing about a surge in buying pressure.
Regulatory Crossroads: The SECs Stance On Ethereum ETFs
While optimism runs high, the path to Ethereums ascendancy is not without regulatory hurdles.
The US Securities and Exchange Commission, led by Chair Gary Gensler, may adopt a cautious approach toward approving an Ethereum ETF, unlike the relatively smoother approval process witnessed with Bitcoin ETFs.
Genslers hesitance stems from a history where the SEC reluctantly gave the nod to Bitcoin ETFs after a legal battle with Grayscale.
The SEC is set to scrutinize Ethereum ETF applications, including those from financial giants BlackRock and Fidelity, in May.
Despite industry expectations, the approval odds vary, with Polymarket estimating a 43% likelihood and JPMorgan offering a more optimistic 50% chance.Ethereums Catalyst: The Dencun Upgrade
JPMorgan highlights a potential catalyst for Ethereums growththe Dencun upgrade. Crafted to enhance scalability by reducing costs for various rollup solutions, this upgrade facilitates the batching of crypto transactions into smaller data chunks settled on the Ethereum network.
Unlike Bitcoins programmed scarcity with a capped token supply of 21 million, Ethereums supply remains infinite, presenting a unique dynamic in the crypto landscape.
Eugene Cheung, Bybits head of institutions, underscores the positive implications of the Dencun upgrade for Ethereum supporters.
With layer 2 solutions built on top of Ethereum, the blockchain is evolving into a settlement layer for a novel digital infrastructure spanning gaming, trading, and investing.
In the eyes of some, the looming decision on Ethereum ETFs is just the opening act.
Bloomberg ETF analyst Eric Balchunas dismisses an Ethereum ETF as small potatoes, characterizing it as an underwhelming prelude to more substantial developments within the crypto sphere.
Featured image from Pexels, chart from TradingView
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Ethereum Aims For $10000, Driven By 2 Key Factors, According To Experts - TradingView
Smart Contracts Go Live on Stellar, Kicking Off a "New Era" for the Network – Cryptonews
Last updated: February 21, 2024 01:24 EST | 1 min read
The Stellar Development Foundation (SDF) has announced the successful deployment of smart contracts on the network, a development they believe will revolutionize their tech stack.
In a Tuesday blog post, the SDF revealed that the Stellar (XLM) network validators had successfully implemented the Protocol 20 upgrade, enabling the activation of smart contracts and initiating the phased rollout of their smart contract platform, Soroban.
Stellar network validators voted to upgrade Mainnet to Protocol 20, kicking off a new era for the Stellar smart contracts tech stack, which delivers a secure, batteries-included developer experience built to scale and for real-world use, the announcement read.
The introduction of smart contracts on Stellar aims to enhance the developer experience, particularly for those utilizing the Rust and WebAssembly (WASM) programming languages.
The move is expected to provide a more user-friendly environment for developers.
Soroban, the smart contract platform initially deployed to the Stellar testnet in October 2022, incorporates scalability features such as predictable fees and independent resource pricing.
The SDF emphasized that this new smart contract ecosystem would empower the creation of decentralized applications (DApps), enabling developers to build innovative protocols and applications on the Stellar network.
The deployment of smart contracts on the mainnet was delayed in January due to a bugfound in Stellar Core.
Although the SDF assured that the bug posed minimal risk, they wanted to address it before rolling out the smart contract platform to ensure the stability and security of applications built on it.
To encourage developers to embrace the Soroban smart contract platform, the SDF initiated a $100 million funding initiative in October 2022.
Over the past two years, the SDF, in collaboration with the Stellar community, has been working on developing smart contract functionality.
However, despite the recent developments, Stellars native token XLM did not witness a significant price surge.
Over the past 24 hours, XLM has experienced a 1% decline, currently valued at $0.116.
XLM has struggled to keep pace with the broader crypto market rally in 2024, remaining 87% below its all-time high of $0.875, reached in January 2018.
The cryptocurrency is among the oldest and most established blockchain projects, having been founded in 2014 by Jed McCaleb.
Before Stellar, McCaleb founded Bitcoin exchange Mt. Gox and was the co-creator of Ripple.
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Smart Contracts Go Live on Stellar, Kicking Off a "New Era" for the Network - Cryptonews