Tag: evm

Qtum Teams Up with Blockpass To Deliver On-Chain KYC

Qtum, the advanced blockchain platform and growing decentralized finance (DeFi) ecosystem has announced its partnership with the leading on-chain KYC provider Blockpass. 

According to the recent press release, the new partnership will see Qtum begin offering subsidies to specific firms looking to implement Blockpass’ on-chain KYC services to achieve regulatory compliance. 

With an increasing number of blockchain-powered projects looking to securely implement KYC services, providers like Blockpass represent an increasingly attractive proposition in an industry where regulatory compliance is becoming the focus of many startups. 

As a KYC and AML services provider, Blockpass’ services make it easy for firms to easily and securely verify the identity of their customers and clients, and thanks to its clever use of blockchain technology and automation, it can screen users for as low as 12 cents per individual — making it attractive to firms looking to screen large numbers of users quickly and with zero hassle.

On-chain KYC will become a critical component for numerous protocols on the decentralized web,” said Qtum co-founder Jordan Earls in the press release. “Rather than hinder innovators who are seeking to stay compliant while enabling new technologies, the Qtum Foundation would like to support those builders by backing Blockpass’ expansion to the Qtum blockchain.”

This is the latest in a series of announcements for Qtum, which recently ramped up its moves in the decentralized finance space with the launch of its own automated market maker (AMM) platform in QiSwap, as well as a generous grant program for innovators looking to build creative DeFi solutions on Qtum chain. 

As arguably the most successful fork of Bitcoin, Qtum separates itself from other blockchain platforms in that it combines the UTXO transaction system of Bitcoin with the Ethereum Virtual Machine (EVM). This makes it uniquely positioned to offer a stable, secure environment for decentralized applications while being accessible to Solidity developers experienced with building on Ethereum. 

“We’ve known and been fans of the Qtum team and network for a long time, and it’s great to have the opportunity to work closely with them,” said Blockpass CEO Adam Vaziri.

Telos Launches Most Powerful EVM And Combats Insider Trading in Crypto Market

Many people were over-excited when the news about Ethereum 2.0 broke out. However, the upgraded system to the already existing Ethereum blockchain has not fixed issues associated with transactions, scalability, and sustainability.

Ethereum 2.0 has left a major common problem, “front-running,” which crypto investors are still facing. This problem continues causing the loss of thousands of dollars and other more losses. 

Investors are now joyous with the news that Telos, a popular third-generation blockchain, announced its EMV, which is described as having the capability to solve the front-running problem and many more. Therefore, it is important to examine how Telos solves this problem and outperform other systems.

Telos EVM

Telos EVM (Ethereum Virtual Machine) is a compatible layer-one blockchain that offers a scalable solution to run existing solidity applications and vyper contracts without modifications.

Telos EVM was built to revolutionize the DeFi landscape and to fix problems faced by other EVMs. Each part of Telos appears to solve different problems commonly witnessed in other networks. Telos EVM just functions like Ethereum but is different from the original EVM. The platform was developed to host a number of large programs from other networks without modifying anything.

Tackling Front-running Problem

Ethereum miners mainly use front-running to improve their spread while entering options and futures contracts.

However, front-running is a common problem in the crypto industry. This problem causes millions of dollars to drain in trading, and many users lose millions of dollars even without knowing.

The front-running problem occurs when bots or miners with insider knowledge about pending trades make a profit from it. Bots could offer a high gas fee to jump lines over high-value transactions, and even miners take bribes or insert their own transactions to get transactions directly.

The involved person can skip lines, complete transactions, and even differentiate between his purchase and sell price as profit. While the attacker is the only one making a profit from this, other general users do not benefit.

Telos solves this problem by having a strict anti-front running rule and a fixed transaction fee. This prevents any possibility for attackers to exploit users. At every second, Telos creates two blocks with a fixed gas fee on EVM transactions. Since EVM is fast, bots have no chance to scan pools for high trades. Moreover, Telos offers rules in that nobody can break these rules. Telos offers transaction processing on a FIFO basis (first-in, first-out); hence block producers cannot reorder any transactions to gain high profits.

Fixing Transaction Issues

Another important area where Telos is seen solving a significant problem – the transaction fee concern.

Telos has advanced features such as cost-efficient transactions, fast block times, and fair distribution that significantly benefit developers.

While only a few platforms can boast of offering low transaction fees, native Telos has no fee at all. Telos EVM, which uses the similar gas model used by the original Ethereum, costs $0.01. Telos EVM helps people save thousands of dollars since Ethereum’s gas fees are relatively high. With that in mind, Telos outperforms its competitors such as Cardano, Polkadot, and others and beats the original Ethereum down.

The time it takes to mine one block varies typically based on the chain and particular variables. There are various blockchains in the market with a high market cap, such as Ethereum, Cardano, Polkadot, and Tezos. And all these cryptocurrencies have a prominent position on the market.

Ethereum is popular and considered the king of decentralized apps. It has scalability problems and typically takes 10 – 15 seconds to mine one block. Polkadot has not yet launched the Parachains upgrade, allowing individual sidechains to hook on the main blockchain. On the other hand, Cardano recently launched smart contracts. Tezos most projects are still in development, but it can lend well to DeFi and NFTs.

Though such blockchains still boast of offering faster transactions, they still cannot rival Telos EVM. The time which Telos EVM takes to mine one block is less than 500ms. Such a fantastic time block means that Telos can handle 10,000 transactions per second. Telos, therefore, fixes the gap seen in the problem associated with transaction speed.

Harnessing Interoperability

Telos is considered the greenest blockchain due to its low energy consumption levels. It also provides a home to several dApps on its network.

Telos EVM makes it easy for developers to bring existing applications to the Telos blockchain. It is compatible with Vyper, EOSIO C++, and Solidity, providing a new experience for migrating users. The compatibility rate of Telos EVM with other apps is 95% and therefore makes migration much more accessible. With EOSIO, developers can migrate applications from the EOS blockchain to Telos, and for maximum performance, coders will be able to deploy Ethereum DApps on Eosio.

Apart from that, Telos recently announced partnerships with Anyswap, SushiSwap, and a popular NFT project, Cryptopunks. So, users on such platforms can take advantage of Telos EVM’s security, speed, and scalability with trading their crypto coins.

Telos Gains Popularity

Telos’s functionality to migrate applications from EOS blockchain has gained attention from big brands such Siemens, Zalando, Cisco, and Microsoft. These are just part of the big brand’s names using Telos blockchain to unlock real-world activities and build applications. A powerful hackathon platform known as Taikai uses Telos for open innovation events in the next generation. Telos uses a combination of the best of various ecosystems and successfully other benefits on top.

Telos, with its powerful enhancements, solves the weaknesses that other blockchains cannot solve. It will evolve governance solutions, provide network scalability, flexible and low fee models, and no front-running. Telos has become the web 3.0 stack and provides entrepreneurs and developers tools to succeed in the next-generation decentralized internet economy.

Astar Network To Launch Smart Contracts 2.0 on the Mainnet on April 6th

Tokyo, Japan, April 3rd, 2023, Chainwire

On WASM Launch Day, Astar along with Polkadot and other ecosystem partners will host a virtual panel discussion with developers

Astar Network, a smart contracts platform for multichain, is thrilled to announce that it will launch Smart Contracts 2.0 – the WebAssembly (WASM) smart contracts that extend the Web3 functionality of EVM – on the mainnet at 14:00 UTC on Thursday, April 06th. With this technical update, Astar Network will support both Ethereum Virtual Machine (EVM) and WASM VM smart contracts on the mainnet.

Astar Network is hosting a virtual celebration with the entire Web3 community, called WASM Launch Day. Interested developers, Web3 enthusiasts, and those new to crypto can RSVP for the live panel discussion on WASM Launch Day here. Astar’s Founder Sota Watanabe, Head of Growth Maarten Henskens, and Polkadot developers along with the leading infrastructure teams will discuss how WASM will revolutionize blockchain.

With our next level smart contracts, you can create a WASM or EVM project, and you can create new multichain applications. Anyone can also connect their Astar project to any Polkadot or EVM ecosystem. There are no limitations on what you can build. This is the next level of smart contracts!” said Sota Watanabe, Founder of Astar Network.

Moreover, Astar Network will hold a virtual meet-up with Parity, Phala, DIA, SubWallet, Brushfam & Subsquid– the infrastructure partners that will build the foundation of Astar’s WASM environment. Developers will also be apprised of how to create a promising multichain network on Astar.

On April 6th, Astar Network will become the first Polkadot parachain to support a stable WASM environment by enabling ink! smart contracts. Software developers will be able to build with Polkadot, too, thanks to the XCM functionality.

Astar Network supports both the Ethereum Virtual Machine (EVM) and WebAssembly (WASM) smart contract environments. Having two VMs simultaneously and making them interactive is a key success factor for an emerging Layer-1 blockchain. Though Ethereum brought us the Web3 revolution with the introduction of smart contracts, it cannot build the innovative future of blockchain alone.

WASM VM enables new developers to begin their Web3 journey on Astar since it is compatible with many programming languages including C/C++, GO, TypeScript, Java, and RUST. Developers don’t need to learn a new programming language from scratch to start building. They can build with the language they are already familiar with. The variety of tools and resources used by software developers can now be integrated with Astar technology.

As one of the leading teams pushing WASM and EVM smart contract environments that allow developers to deploy dApps with ease, Astar is committed to bettering the infrastructure around Wasm and ink! within the Polkadot ecosystem.

About Astar Network

Astar Network supports the building of dApps with EVM and WASM smart contracts and offers developers true interoperability with cross-consensus messaging (XCM) and a cross-virtual machine (XVM). Astar’s unique Build2Earn model empowers developers to get paid through a dApp staking mechanism for their code and the dApps they build.

One of the first parachains to come to the Polkadot ecosystem, Astar is a vibrant network that is supported by all major exchanges and tier 1 VCs. Astar offers the flexibility of all Ethereum and WASM toolings for developers to start building their dApps. To accelerate growth on Polkadot and Kusama Networks, Astar SpaceLabs offers an Incubation Hub for top TVL dApps.

For more information, visit: Website | Twitter | Discord | Telegram | GitHub | Reddit

Contact

Maarten Henskenspress@astar.network

OKX to Power Web3 Innovation as a Sponsor of Consensus 2023-Affiliated Hackathon 'Web3athon'

VICTORIA, SEYCHELLES, April 13th, 2023, Chainwire

OKT Chain (OKTC), the EVM and Wasm-compatible chain backed by OKX, the world’s second-largest crypto exchange by trading volume, has announced its sponsorship of the upcoming Web3athon event taking place in conjunction with Consenus 2023.

Organized by Coindesk, Hackerearth, and Alchemy, the event is set to take place online from April 17 to May 31, with additional offline activities taking place at Consensus 2023 in Austin, Texas. Following the success of the 2022 Web3athon event, which was the largest multi-chain hack to date, this year’s event promises to be even bigger and better, bringing together over 5,000 developers from around the world to create new decentralized applications.

At the event, OKTC will also be hosting online and offline workshops to explore the chain’s cutting-edge Wasm and EVM interoperability capabilities and introduce the wider OKTC ecosystem.

The Web3athon sponsorship is just one of OKTC’s initiatives to support developers and provide them with the tools, resources, and support the developers need to bring their ideas to life and drive innovation in the blockchain space.

OKX and OKT Chain’s dedication to building developer communities

OKT Chain’s sponsorship of the Web3athon event aligns with its vision of empowering individuals and organizations to adopt blockchain technology and foster a decentralized future. 

OKT Chain recently hosted a successful hackathon with Google Cloud, attracting over 200 attendees and 46 teams who submitted 32 projects showcasing the potential of decentralized, blockchain-based applications to transform various industries. By supporting these events and hosting similar developer-focused events in the future, OKT Chain aims to establish a stronger and more connected community of developers within the rapidly evolving Web3 ecosystem.

OKTC has recently integrated the Wasm Virtual Machine (WasmVM) and launched an internal bridge to connect EVM and WASM in a single public chain, making it more accessible to Web2 developers who are familiar with Wasm-supported languages to kickstart building on OKTC as well as enable projects running on Wasm to seamlessly transition onto OKTC.

With over 400 projects already deployed on OKTC, and over 139 million transactions and over 100 million addresses, OKTC is primed for greater growth and success. Through events like the Web3athon and other developer-focused initiatives, OKT Chain aims to create a stronger community where developers can learn from each other, collaborate, and innovate using the cutting-edge capabilities of OKTC.

About OKX

OKX is the second-largest global crypto exchange by trading volume and a leading Web3 ecosystem. Trusted by more than 50 million global users, OKX is known for being one of the fastest and most reliable crypto trading app for investors and professional traders everywhere.

OKX’s leading self-custody solutions include the Web3-compatible OKX Wallet, which allows users greater control of their assets while expanding access to DEXs, NFT marketplaces, DeFi, GameFi and thousands of dApps.

OKX partners with a number of the world’s top brands and athletes, including: English Premier League champions Manchester City F.C., McLaren Formula 1, The Tribeca Festival, golfer Ian Poulter, Olympian Scotty James, and F1 driver Daniel Ricciardo.

OKX is committed to transparency and security and publishes its Proof of Reserves on a monthly basis.

About OKTC

OKTC (previously known as OKC/OKX Chain) is an EVM- and IBC-compatible L1 built on Cosmos with a focus on true interoperability and maximized performance. At high scalability, developers can build and scale with low gas fees. The OKTC ecosystem and infrastructure, including the all-in-one multi-chain Web3 interface, enables a seamless experience for both developers and users.

How to find us?

Website | Twitter | LinkedIn | Discord | Telegram | DevCommunity | Submit Your Project

Disclaimer

THIS ANNOUNCEMENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY. IT IS NOT INTENDED TO PROVIDE ANY INVESTMENT, TAX, OR LEGAL ADVICE, NOR SHOULD IT BE CONSIDERED AN OFFER TO PURCHASE, SELL, OR HOLD DIGITAL ASSETS. DIGITAL ASSETS, INCLUDING STABLECOINS, INVOLVE A HIGH DEGREE OF RISK, CAN FLUCTUATE GREATLY, AND CAN EVEN BECOME WORTHLESS. OKX IS NOT REGULATED BY THE FCA, THUS, PROTECTIONS SUCH AS THE FINANCIAL OMBUDSMAN SERVICE OR FINANCIAL SERVICES COMPENSATION SCHEME WILL NOT BE AVAILABLE. YOU SHOULD CONSIDER WHETHER YOU UNDERSTAND HOW CRYPTO WORKS AND WHETHER TRADING OR HOLDING DIGITAL ASSETS IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. THE VALUE OF YOUR DIGITAL ASSETS, INCLUDING STABLECOINS, CAN INCREASE OR DECREASE AND PROFITS MAY BE SUBJECT TO CAPITAL GAINS TAX. PAST PERFORMANCE DOES NOT INDICATE FUTURE RESULTS. PLEASE CONSULT YOUR LEGAL/TAX/INVESTMENT PROFESSIONAL FOR QUESTIONS ABOUT YOUR SPECIFIC CIRCUMSTANCES.

Contact

OKXOKXmedia@okx.com

Fireblocks Integrates Astar Network, Boosting Secure DeFi Access for Institutions

Digital asset management platform, Fireblocks, has now incorporated Astar Network, Japan’s leading blockchain, marking an expansion in the company’s secure services for institutional investors. With the new integration, over 650 banks and financial institutions can now tap into Astar’s thriving DeFi ecosystem, as well as trade, swap, and lend digital assets on Astar via Fireblocks.

Astar Network has rapidly become a preferred choice in Japan owing to its support for the popular Ethereum Virtual Machine (EVM) environment, as well as the addition of WebAssembly (WASM), transforming it into a multi-chain platform supporting interoperable applications.

Fireblocks, well-known for its commitment to security, has managed to have its digital asset infrastructure system certified by the Cryptocurrency Certification Consortium (C4), making it the first service provider to receive such recognition. Its multi-party computation (MPC) technology has won over traditional financial clients including BNY Mellon, ANZ Bank, and NAB, as well as Japanese trading platforms such as CoinTrade.

Stephen Richardson, Managing Director, Financial Markets and Head of APAC at Fireblocks, commented on the integration saying, “Fireblocks has always focused on facilitating institutional adoption in the digital assets industry. By leveraging our highly secure network and MPC-based wallet infrastructure, banks, exchanges, OTCs, and hedge funds can now seamlessly access Astar’s assets.”

The integration was celebrated at a special event during WebX in Tokyo, attended by more than 200 guests, including executives of global enterprises, web3 founders, and venture capitalists. The attendees gained valuable insights into the application of web3 technology in the corporate sphere, and the growing role enterprises play in web3, particularly in Japan, where the government is progressively exploring ways to utilize web3 technology.

Maarten Henskens, CEO of Astar Foundation, emphasized the impact of the integration stating, “We’re looking forward to leveraging this integration to enhance adoption while giving institutions looking to build on Astar a secure and robust way to safeguard their digital assets.”

Chainflip Announces Community Sale on CoinList, Scheduled for August 31, 2023

Chainflip, a decentralized and trustless protocol that enables seamless value transfer between various blockchains, has announced its Community Sale on CoinList. The sale is set to begin on August 31, 2023, at 17:00 UTC.

Chainflip’s protocol allows for the swapping of assets between different chains, including BTC, EVM, and substrate networks, without the need to wrap tokens or use traditional cross-chain bridges or centralized exchanges. The protocol’s Just-in-Time (JIT) Automated Market Maker (AMM) accesses liquidity from connected chains and partner aggregators, offering users competitive prices and low fees on spot trades.

The Chainflip Community Sale will offer 4,500,000 FLIP tokens (ERC-20) at a price of $1.83 per token. The tokens will be 100% unlocked on Token Generation Event (TGE) at mainnet launch, currently expected on or around October 24, 2023. This date is subject to change up to a maximum of 120 days after the sale closes. The initial purchase limits for the sale are set at a minimum of $100 and a maximum of $4,000. Registrations for the sale will close on August 28, 2023, at 12:00 UTC.

To participate in the Chainflip Community Sale, users must have funded their CoinList Wallet with the minimum purchase amount of $100 before the registration deadline. Additionally, the CoinList account must be fully funded with the desired purchase amount before the sale starts.

Chainflip aims to displace centralized exchanges by integrating the best aspects of existing cross-chain solutions and introducing unique optimizations. Key features include employing up to 150 validators per vault, providing redundancy, security, and anti-censorship. The use of Schnorr signatures and an innovative signing scheme allows these validators to support multiple assets without excessive hardware costs. The JIT AMM design minimizes slippage and offers precise pricing, efficiently using liquidity for large trades. Chainflip provides a permissionless method to swap assets between arbitrary chains and networks without introducing new wrapped assets or excessive confirmation times.

The Chainflip Community Sale is not available for residents of the United States, China, Canada, South Korea, and certain other jurisdictions. The sale is being distributed by Amalgamated Token Services Inc., dba “CoinList.”

Offchain Labs's Arbitrum Stylus Goes Live

Offchain Labs announced the public testnet and code release for Arbitrum Stylus on August 31, 2023. This new framework is designed to work on Arbitrum Nitro chains, allowing developers to build smart contracts using both Ethereum Virtual Machine (EVM) tools and WebAssembly (WASM)-compatible languages like Rust, C, and C++. Stylus aims to significantly reduce gas costs and enable new, resource-intensive blockchain applications. The open-source Software Development Kit (SDK) is now available for developers.

One Chain, Multiple Languages

Arbitrum Stylus is designed to be a “one chain, many languages” solution. It allows developers to use traditional EVM languages like Solidity alongside WASM-compatible languages such as Rust, C, and C++. According to Offchain Labs, this feature expands the potential developer base from approximately 20,000 Solidity developers to millions who are proficient in Rust and C languages.

Efficiency and Cost-Effectiveness

Stylus claims to offer over 10x improvement in computational speed and over 100x improvement in memory efficiency compared to traditional EVM-based solutions. These efficiency gains are expected to translate into significantly lower gas costs for executing smart contracts. Offchain Labs states that allocating megabytes of RAM in Stylus could cost 100–500x less than in Solidity.

New Use Cases Enabled

The efficiency gains are not merely theoretical; they open doors to new blockchain applications that were previously impractical due to resource constraints. These include alternative signature schemes, larger generative art libraries, C++ based gaming, and compute-heavy AI models.

Security Features

Stylus also aims to improve smart contract security with features like opt-in reentrancy, a common vulnerability in Solidity that Stylus disables by default unless intentionally overridden by the developer.

Community and Ecosystem

Arbitrum, the Layer 2 scaling solution for which Stylus is built, already has a large developer and partner community. Stylus aims to leverage this existing ecosystem to encourage rapid adoption and innovation.

What’s Next?

Offchain Labs has scheduled a security audit of the Stylus source code by Trail of Bits. Additionally, a Decentralized Autonomous Organization (DAO) vote will determine the inclusion of Stylus support in Arbitrum One and Arbitrum Nova. An “Ask Me Anything” (AMA) session is planned for September 7, 2023, and a Stylus Hackathon with $20,000 in bounties will be held at ETHGlobal NY from September 22–24, 2023.

Conclusion

The launch of Arbitrum Stylus marks a significant milestone in the evolution of Ethereum’s Layer 2 solutions. By offering multi-language support and efficiency gains, Stylus aims to broaden the developer base, reduce operational costs, and enable new blockchain applications. As the public testnet goes live, the blockchain community will be watching closely to see if Stylus delivers on its promises.

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