Automated token exchanger LuaSwap is cutting costs by employing a second-layer alternative to transacting on the heavily crowded Ethereum mainnet. The number of projects adopting layer-two solutions for Ethereum’s scaling woes is increasing, with LuaSwap rolling out a new, TomoChain-based exchange engine yesterday. The change will enable the Uniswap inspired exchange to perform token swaps with…
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He feels Bitcoin might need such solutions, even with the coin in a store of value role. Would Bitcoin and its blockchain be able to handle mainstream adoption as a store of value without requiring second-layer solutions? Genesis Mining’s head of mining operations, Philip Salter, holds a mixed view. “I think Bitcoin is a good…
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In the past month Near Protocol (NEAR) rallied 106% as the DeFi market captured the attention of new investors. Near Protocol (NEAR) is a smart contract platform that uses parallel processing to scale the network. This technique, known as sharding, resembles what Eth2 is aiming to achieve and Near’s proof-of-stake consensus mechanism also allows token…
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Hermez, an Ethereum scaling solution, has partnered with Tether to offer cheaper USDT transactions via zk-Rollups. Popular stablecoin Tether (USDT) is the first token to go live on the Hermez layer-two network, the company announced on Monday. As part of the collaboration, batched USDT transactions will be possible once the Hermez network officially launches in…
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Eth2 staking has its downsides — people may not have the means to contribute 32 ETH, or the technical knowhow to run a node. Can these issues be solved? How does this ecosystem work? There are three key roles within the Stkr ecosystem. Providers deliver the computing resources that drive the Eth2 nodes — and…
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During a recent Ethereum Foundation AMA, Vitalik Buterin explained his expectations for Ethereum 2.0. Ethereum co-founder Vitalik Buterin recently answered a number of community questions as part of an ask me anything, or AMA, session on Reddit. During the AMA, hosted by the Ethereum Foundation’s ETH 2.0 research team, Buterin said that he expects noticeable…
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That being said, scaling decentralized e-voting systems is a complex task. In an interview with Cointelegraph, Charles Hoskinson suggested that a Cardano-based solution might make blockchain voting possible for future national elections. He stated: “Not only do I believe — we’ve been building the infrastructure for that.” Hoskinson acknowledged that the road to Cardano-based elections would be…
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Another automotive company is moving into crypto. Toyota Systems, the IT arm of Toyota Motor Corporation, is collaborating with Japanese cryptocurrency exchange DeCurret to develop a branded Toyota digital currency, according to an official announcement on Oct. 26. The large-scale pilot will involve 2,500 employees at Toyota Systems. The platform will feature digital currency payments…
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Scaling solutions sometimes come at the cost of decentralization. Most of decentralized finance’s potential scaling options come at the cost of decentralization, according to Kosala Hemachandra, founder and CEO of crypto wallet solution MyEtherWallet. “From a perspective of fully decentralized blockchains, there’s no blockchain that has a good enough scaling solution to support this many transactions,” Hemachandra…
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Hype can be hectic and unorganized. The crypto space’s decentralized finance niche has reached frenzied status within the crypto industry, signaled by exuberant price highs and rampant speculation. “DeFi is the new overhyped concept in Ethereum,” MyEtherWallet, or MEW, CEO and founder Kosala Hemachandra told Cointelegraph in an interview. “The noise is too much, so everyone…
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