Parfin, a financial technology company, has created a new blockchain system to be used as a privacy solution for the Brazilian CBDC, drex. Rayls, the new blockchain, will offer the possibility of operating in a permissioned way and also linking itself to other public blockchains using Rayls Public Chain, a native Ethereum layer two (L2). […]
Bitcoin News
Transak and Cometh Launch Industry-First Fiat-to-Layer 3 Crypto Onboarding Solution
Transak, a Web3 payments provider, has teamed up with blockchain development platform Cometh to introduce a streamlined fiat-to-Layer three (L3) onboarding solution. This new system reportedly simplifies the purchase of crypto assets directly on Cometh’s L3 blockchain, Arbitrum Orbit. Transak Partners With Cometh to Simplify Fiat-to-L3 Crypto Transactions According to the company’s announcement, Transak and […]
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Former Bitmex CEO Arthur Hayes: A Weak Yen Solution Might Propel Bitcoin to $1 Million
Arthur Hayes, former CEO of Bitmex and current CIO of Maelstrom, has predicted the geopolitical and economic dynamics that will be taken to equilibrate the exchange rate between the U.S. dollar and the Japanese yen might propel bitcoin prices to million. Hayes states that eventually, the U.S. will be forced to act by printing […]
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Faisal Al Monai: Convergence of AI and Blockchain Is a Solution to Data Integrity Issues in AI Model Training
The Middle East and North Africa (MENA) lead the world in the adoption of blockchain and cryptocurrencies because governments in the region actively promote digital transformation in their strategic future visions, according to Faisal Al Monai, chairman and co-founder of Droppgroup. This commitment by governments in the region “creates a favourable environment for the growth […]
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Microstrategy Plans to Launch a Decentralized Identity Solution on Bitcoin
Microstrategy has introduced a new enterprise decentralized identity platform, Microstrategy Orange, during the Bitcoin for Corporations segment at Microstrategy World 2024 event in Las Vegas. Microstrategy Intends to Leverage the Bitcoin Blockchain for Identity Management According to an unofficial draft on Github, the Orange platform leverages the Bitcoin Inscription DID method (did:btc), which incorporates data […]
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Developing Several Layer-2 Solutions: ‘The Real Solution’ to Ethereum’s Scalability Issue, Says Ken Timsit
The recent surge in Ethereum gas fees can be attributed to the rise in decentralized finance (defi) activity and the growing popularity of layer 2 (L2) chains such as Arbitrum and Optimism, Ken Timsit, managing director of Cronos Labs, has said. Timsit however agreed that the recent Dencun upgrade to the Ethereum network has helped […]
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Alchemy Pay and Polyhedra Network Announce Upcoming Collaboration for Seamless Ramp Solution
PRESS RELEASE. Alchemy Pay has announced that it has entered into a partnership with Polyhedra Network, a Web3 ZK infrastructure provider that aims to revolutionize interoperability and scalability through Zero-knowledge (ZK) proof technology. Through this collaboration, Alchemy Pay will integrate Polyhedra Network’s ZK infrastructure to improve the interoperability, security, and user experience of its global […]
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Telegram CEO Responds To Concerns, Offers Solution To Restrict Company’s TON Stake To 10%
The popular messaging platform Telegram has revealed its plans to sell its surplus holdings of The Open Network (TON) tokens at below-market prices. This move comes after concerns were raised about the potential centralization of TON supply due to ad payments being exclusively accepted in TON tokens.
Telegram Addresses Concentration Concerns
As NewsBTC reported on February 28, starting in March, channel owners will have the opportunity to receive financial compensation for their content. All transactions, including payments and withdrawals, will be handled on the TON blockchain.
Telegram’s advertising platform will be available to advertisers in nearly one hundred new countries. With this expansion, channel owners will receive 50% of the revenue generated from ads displayed on their channels.
In response to concerns about the concentration of TON tokens with this new feature, Telegram CEO Pavel Durov announced plans to sell the company’s surplus holdings.
With ad payments in TON tokens potentially accounting for more than 10% of the TON supply at Telegram, Durov acknowledged the need for a solution to avoid centralization.
Telegram aims to limit its share of TON by selling the surplus holdings to long-term investors, ensuring a “healthier distribution” and a decentralized ecosystem. The tokens sold will be subject to a lockup and vesting plan ranging from 1 to 4 years.
To ensure a streamlined process for selling TON tokens, Telegram has set up a dedicated email address where interested large investors (with investments of million or more) can express their interest, aiming to maintain stability and decentralization within the TON ecosystem.
TON Ecosystem Thrives
Despite the growing concerns, the TON ecosystem is showing encouraging signs of growth, as evidenced by recent data provided by Token Terminal. Market capitalization, trading volume, fees, and revenue have all increased significantly over the past 30 days. Additionally, active users have consistently grown daily, weekly, and monthly.
Over the past 30 days, the fully diluted market capitalization of the TON ecosystem has reached .83 billion, marking a significant 31.0% increase. Moreover, the token’s trading volume has seen a modest but steady 1.4% rise, reaching .21 billion.
Fees generated within the ecosystem have also experienced substantial growth, with an 80.9% increase over the past 30 days, totaling 0,490. The annualized fees have also surged, reaching .47 million, reflecting a 45.3% growth rate.
Furthermore, revenue generated within the ecosystem has followed a similar trajectory, with a significant 80.9% increase over the past month, amounting to 0,250. The annualized revenue stands at .23 million, indicating a promising revenue stream for the ecosystem.
Last but not least, the TON ecosystem has seen consistent growth in its user base over different periods. Daily active users have increased by 1.5%, reaching 33.66k, while weekly active users have experienced a growth rate of 19.6%, reaching 178.62k. Monthly active users also showed a positive trend, with a growth rate of 10.3%, reaching 412.39k.
TON is trading at ,735, up 3% over the past 24 hours and extending its 34% rise over the past 30 days.
Featured image from Shutterstock, chart from TradingView.com
As the Blockchain Industry Loses Billions Annually to MEV, the Solution Is Staring Us in the Face — Neo Founder Da Hongfei
Imagine the scene: You’re sitting at the card table, and every hand you’re dealt is terrible. But the cards never get better; the dealer has full sight of the deck and sets the order of the cards before they’re played. The dealer always wins. The following opinion editorial was written by Da Hongfei, a prominent […]
Bitcoin News
Breez Wallet Shows Offline Lightning Network Payments Solution
Breez Wallet, a Lightning Network (LN) focused wallet, has shown an implementation that allows users to receive LN payments without being online. The service, which will be included in an upcoming non-custodial wallet app, leverages the wallets’ own SDK using mobile notifications to receive this payment without requiring involvement from the recipient.
Breez Presents Solution for Offline Lightning Network Payments
Breez, a Lightning Network (LN) focused wallet, has shown its solution to tackle the problem of offline payments in the protocol. Due to its inner workings, both parties in a transaction need to be online when an LN payment happens, making its use cumbersome for some applications.
However, Breez has used its software stack to engineer a solution that allows these payments to go through even with the receiving party being offline. The organization showed this solution in a post on X, where an unnamed upcoming non-custodial wallet by Breez receives an LN payment being offline using notifications.
In an earlier post, Breez co-founder and CEO Roy Sheinfeld examined the alternatives for solving the offline payments problem in LN and described the one Breez is leveraging. Sheinfeld explained that Breez implemented push notifications in its latest SDK, which allows service providers to send messages to the app to receive the payment without user intervention, automatizing the task.
Sheinfeld recognizes that this solution needs work from the developers, given they need to set up notification delivery services for these messages. However, this allows for a better user experience because the app doesn’t need to be active in the background to receive payments.
Nonetheless, he also acknowledged the limitations of this solution, explaining that it depends on a notification service managed by a third party like Apple or Google, and called for implementing alternatives at a protocol level. He declared:
Mobile notifications are an improvement, but not a cure-all. They only work on mobile devices, obviously, and this approach won’t work if the device is off or the user has disabled the notifications required.
What do you think about Breez’s offline LN payments solution? Tell us in the comments section below.