Etherscan, an Ethereum block explorer and analytics platform, has launched Code Reader, a tool that uses artificial intelligence (AI) to retrieve and interpret the source code of a specific contract address. The tool generates a response via OpenAI’s large language model, providing insight into the contract’s source code files. Code Reader’s use cases include gaining
Ethereum
Since its inception, Ethereum has been the leading smart contract and decentralized application (DApp) network. An analysis of Ether’s price (ETH) and market capitalization shows that the blockchain has been gaining market share. In recent years, Ether’s dominance in market capitalization has grown from an 18% average in July 2021 to the current 20%. Excluding
Mihailo Bjelic, co-founder of Polygon, has proposed upgrading the Polygon proof-of-stake (PoS) network to a “zkEVM validium” version. The upgrade is aimed at increasing security by relying on zero-knowledge proofs. Polygon PoS is an Ethereum scaling solution that has over $900 million in total value locked within its contracts. It does over 2 million transactions
Blockchain technology has seen a significant advancement with the introduction of zero-knowledge proofs. However, in order to fully unlock the potential of these protocols, streamlined data availability solutions are required. Anurag Arjun, co-founder of Polygon and blockchain data availability protocol Avail, emphasized the significance of data availability for ZK-rollups in an interview with Cointelegraph. ZK-rollups
ZachXBT, a blockchain investigator, has been sued for libel by Jeffrey Huang, also known as “MachiBigBrother” on Twitter. Huang claims that ZachXBT has damaged his reputation through false allegations. ZachXBT responded to the lawsuit by calling it “baseless” and an attempt to chill free speech, pledging to fight back against it. ZachXBT is known for
Synquote, a new DeFi options platform, has launched and it is using social logins and undercollateralized trading to attract liquidity providers. This protocol is capable of handling large trades with much less slippage than previous options platforms. According to the team, the platform did over $25 million of notional volume during its beta period which
On June 13, Amazon Web Services (AWS) experienced a minor outage that lasted for about three hours. At 12:08 pm PDT, the company reported that it was “investigating increased error rates and latencies” in some parts of the United States. The outage affected many mainstream news organizations, such as the Associated Press, which were unable
Ethereum co-founder Vitalik Buterin, along with India-based crypto fund Crypto Relief and Polygon co-founder Sandeep Nailwal, have pledged $100 million towards COVID-19 research and medical infrastructure development in India. The collaboration aims to tackle the ongoing COVID-19 pandemic and prepare for future pandemics. The Donation The donation will be split between the three parties involved,
Grill.chat, a chat app based on Subsocial network, has recently announced the implementation of Ethereum Virtual Machine (EVM) wallet compatibility. This will allow users to chat using their Ethereum identities and send cryptocurrency to each other via Polygon. Subsocial is a Polkadot parachain designed for social media applications, while Grill.chat allows users to participate in
The price of Ether (ETH) briefly retested $1,780 after news of the US Securities and Exchange Commission (SEC) suing Binance and Coinbase, but the fact that it did not break below the 67-day support is a positive sign for the cryptocurrency. The SEC’s actions are a double-edged sword for Ethereum. Some analysts attribute the bounce
Glassnode, an on-chain analytics firm, has recently published a report suggesting that investors are showing a preference for risk-off assets such as stablecoins and Bitcoin. The report also highlights that altcoins are currently at a crucial turning point, with a potential breakout imminent. Analysis of Uniswap and Futures Trading Volumes According to the report, the
Defactor Labs, a decentralized finance (DeFi) lending platform, has announced that it has tokenized Alpha Bonds worth $100 million on the Polygon (MATIC) network. The tokenization will allow small- and medium-sized enterprises to use real-world assets, such as receivables, as collateral. Defactor Labs partnered with law firm CMS to provide legal guidelines and documentation, while
Sequoia Capital, one of the world’s largest venture capital firms, plans to split into three separate partnerships to serve the United States, China and Asian markets. The move aims to decentralize the company’s back-office functions, citing increased global financial complexity and growing brand confusion. Sequoia Capital plans to embrace its “local-first approach” with the change.
According to analysts from Glassnode, the activity in Ethereum’s decentralized finance (DeFi) sector has declined during the bear market, and it faces competition from Ethereum’s annual staking reward of 4%. The percentage of gas consumed by DeFi protocols has dropped from 34% in 2020 to 8% to 16% presently, with non-fungible tokens (NFTs) commanding the
On June 1, a proposal to introduce protocol fees for Uniswap decentralized exchange was voted down, according to the proposal’s official webpage. The outcome of the vote meant that liquidity providers (LPs) could continue earning all revenue from swaps. The proposal failed narrowly, with 45.32% of votes going to the “no fee” camp, and 42.34%
Circle has announced the launch of a new native version of its USD Coin (USDC) stablecoin on the Arbitrum network. The existing Ethereum-based token that’s been bridged to Arbitrum will be replaced by the new native token. The official version of USDC will be recognised within the Arbitrum ecosystem and will ultimately replace the currently
Origin Ether, a new yield farming app, has gained over $12 million in total value locked (TVL) just two weeks after its launch. This information comes from blockchain analytics platform DefiLlama, which measures the dollar value of assets inside an app’s smart contracts. The app was launched on May 16 and had $793,000 locked inside
Ethereum has recently undergone a historic Merge event in September, which has transformed it into a proof-of-stake blockchain. This entails validators staking their Ether (ETH) to confirm transactions. Ethereum’s March upgrade, known as Shanghai, has enabled stakers to withdraw their locked Ether. Ethereum’s investment themes include decentralized finance (DeFi), stablecoins, Bitcoin (via wrapped versions of
Jimbos Protocol, which is a liquidity protocol of the Arbitrum system in the decentralized finance (DeFi) space, has become the latest victim of a hacking attack. The attack resulted in the loss of 4,000 Ether (ETH), worth approximately $7.5 million at the time. PeckShield, a blockchain security firm, reported that the attack occurred on May
Arthur Madrid, the co-founder and CEO of The Sandbox, reported that his Twitter account was hacked on May 26. The attacker used Madrid’s account to promote a fake “airdrop” phishing scam. Madrid’s post, which was made after he recovered his account, warned The Sandbox users not to click on any links that promote Airdrop or
Crypto analyst Marcel Pechman’s show, Macro Markets, is gaining popularity among cryptocurrency enthusiasts. It airs every Friday on the Cointelegraph Markets & Research YouTube channel and helps in explaining complex financial concepts in layman’s terms. In the latest episode, Pechman discussed the factors causing the crypto market capitalization to remain 60% below its all-time high,
The US stock market saw a recovery on May 17 and 18 due to hopes of a debt ceiling agreement, but some of the gains were lost on May 19 due to reports of a temporary halt in talks. The US Dollar Index (DXY) also turned down on May 19 after Federal Reserve Chair Jerome
While positive news of debt ceiling talks have helped the United States stock markets to recover, the same cannot be said for the cryptocurrency market. Bitcoin has fallen below the $27,000 support, indicating that buyers are struggling to maintain relief rallies. Institutional investors are booking profits due to macro uncertainty, with $200 million being withdrawn
The popular cryptocurrency exchange, Uniswap, is set to launch on the Moonbeam parachain of Polkadot, according to a recent proposal approved on the exchange’s governance forum. Blockchain at Michigan, an educational group, presented the proposal, which passed with near-unanimous support, with only a single token being used to vote against it. Details of the Proposal
Crypto.com, the Singaporean cryptocurrency exchange, has recently launched an update to its decentralized finance (DeFi) wallet service. The update enables support for fiat-to-crypto purchases in more countries and the addition of three new tokens. New Tokens and Fiat-to-Crypto Purchases In a recent blog post, Crypto.com announced that it has added Polygon (MATIC), USD Coin (USDC),
The crypto market has taken a downturn just as Bitcoin (BTC) seemed poised for a price breakout. On May 16, Bitcoin hit a 7-day low of $26,970, causing concern among traders that a larger price dip may be on the horizon. Adding to these worries, a CME gap is currently sitting at $24,000. Ether (ETH)
Celsius, the bankrupt crypto lending firm, is eager to retrieve its staked Ether (ETH) stash from liquid staking platform Lido. It has initiated the process of withdrawing its Lido Staked ETH (stETH) from the protocol. It has requested the withdrawal of 428,084 stETH in batches of 1,000. The stash is valued at approximately $784.7 million