Autor Cointelegraph By Stephen Katte

Offchain Labs acquires Ethereum core dev team Prysmatic Labs

Offchain Labs acquires Ethereum core dev team Prysmatic Labs

Uverejnil používateľ | okt 13, 2022 |

One of the core development teams behind the Ethereum Merge, Prysmatic Labs, has been acquired by Offchain Labs, the developer of the Ethereum layer-2 network Arbitrum. Announced in an Oct. 13 blog post by Offchain Labs, the deal’s financial terms were not disclosed, but it was noted Prysmatic Labs chose to join Offchain Labs “for many reasons,” but mainly because of the two companies’ alignment in their core beliefs.Prysmatic Labs co-founder Raul Jordan said the move will “build a unified team stronger than the sum of its parts.”“Merging with Offchain Labs made perfect sense to us as an Ethereum team because we develop software extensively in Go, are fully incentive-aligned with the success of Ethereum, and are focused on shipping quality software for others to use,” Jordan said.Offchain Labs claims the future of Ethereum relies on layer 1 for consensus and data availability and layer 2 for execution and scalability, and its acquisition of Prysmatic Labs is a step toward combining experts in these two areas. Despite the Prysmatic Labs team officially joining Offchain Labs, their “work will continue uninterrupted,” and their work in Ethereum node client software will continue to be developed under Offchain’s umbrella.They are still developing Prysm as a fully open-source and neutral consensus client and bringing EIP-4844 data-sharding to production.The post ends by teasing possible future collaborations between the two teams. “There are several other joint initiatives that we plan to work on together, furthering both L1 and L2 development.”Related: Offchain Labs launches Arbitrum One mainnet, secures $120M in fundingPrysmatic Labs is one of the core engineering teams behind the Merge and built Prysm, the leading Ethereum consensus client that’s now powering Ethereum’s proof-of-stake consensus. Offchain Labs is a venture-backed and Princeton-founded company developing Arbitrum, a suite of scaling technologies for Ethereum, with two live chains, Arbitrum One and Arbitrum Nova.

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STEPN to sack 100 staff as players step away from the move-to-earn app

STEPN to sack 100 staff as players step away from the move-to-earn app

Uverejnil používateľ | okt 13, 2022 |

Solana blockchain-based move-to-earn fitness app STEPN is reportedly laying off over 100 of its contract workers amid the ongoing crypto bear market and as its user numbers dwindle from previous highs.Moderators and ambassadors will be among the sacked staff, and investment in STEPN will be scaled back, according to crypto reporter Colin Wu. There will also be a shift toward promoting STEPN’s parent company, Find Satoshi Lab (FSL), and its new projects, Wu claimed, citing community sources.The famous blockchain game STEPN began to lay off staff in the bear market. It will mainly lay off more than 100 MODs, ambassadors, etc., and will reduce investment in STEPN, and some development progress has been delayed. According to community sources.— Wu Blockchain (@WuBlockchain) October 12, 2022Cointelegraph contacted STEPN for comment but did not receive a response before publication. Founded by Australian-based fintech Find Satoshi Lab, STEPN launched in 2021, giving user’s the ability to purchase nonfungible token (NFT) sneakers used to walk or run in the real world to earn Green Satoshi Tokens (GST) which can be used for in-game purchases or cashed out. STEPN was off to a promising start after launch; its governance token Green Metaverse Token (GMT), hit an all-time high in April, reaching $4.11, while GST peaked at $8.51, according to data from CoinGecko. Now, GMT has fallen over 85% and is trading at $0.61 at the time of writing, while GST has dropped over 99% to $0.026.It’s the same story for the app’s users, according to Dune Analytics data, which reveals the app’s daily active user count rose to an all-time high of 105,257 on June 26 before crashing down to under 6,000 in September before recovering slightly to 11,877 users as of Oct. 5. Recent setbacks include being forced to block mainland China users and a distributed denial-of-service (DDoS) attack in June. STEPN Monthly Active Users (MAU) in 2022. Source: Dune AnalyticsCrypto researcher Lucia Kim from self-described Web3-native accelerator nonce Classic claims that the decline could be the fault of the limitations of STEPN.In a lengthy Oct. 4 Twitter post, Kim explained the system was structured to make users sell their tokens in the market to claim rewards, but this saw a supply increase, resulting in “accelerating token price decline due to excessive supply of NFTs.” “The more rewards users get, the more tokens they sell to the market, which in turn affects its ecosystem,” Kim explained.Related: Web3 gaming still a long way from mainstream adoption: SurveyThe STEPN team has recently teased changes are coming, with co-founder Yawn Rong taking to Twitter on Oct. 10 with an open letter to their community, stating, “changes are happening so that we can continue to add value to GMT and the Find Satoshi Lab ecosystem.”“We will be devoting all of our resources to progressing to the next stage of FSL,” said Rong.No specifics were revealed, but Rong says more will be explained over the next few weeks, telling his 34,000 Twitter followers they “won’t want to miss what comes next.”

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How Crypto Twitter could change under Musk’s leadership

How Crypto Twitter could change under Musk’s leadership

Uverejnil používateľ | okt 6, 2022 |

Barring another change of heart and certain conditions to be met, Elon Musk’s acquisition of Twitter looks set to go ahead, prompting the question of whether some or all of the changes he initially hinted for the platform will become a reality. The platform is a popular communication and news tool for crypto enthusiasts, users and investors, not to mention crypto scammers, with the social media platform seeing roughly 120,000 tweets per day about #Bitcoin alone, according to BitInfoCharts.Looking back at Musk’s initial commentary when he proposed a buyout of Twitter could shed some light on what changes he envisions for the platform. This includes a focus on free speech, eliminating spam bots, fake accounts, an edit function and possibly even crypto payments have all been considered and could still be on the agenda if the deal goes through. Spam bots and fake accountsOne potential area of focus is around Twitter’s alleged spam bots. During a TED talk in Vancouver in April, Musk said that if his offer to buy Twitter were successful, a “top priority” would be the elimination of spam and scam bots from the platform, noting at the time: “A top priority I would have is eliminating the spam and scam bots and the bot armies that are on Twitter.”“They make the product much worse. If I had a Dogecoin for every crypto scam I saw, we’d have 100 billion Dogecoin,” he said. He has proposed to topple them by “authenticating all humans,” and even made the statement “we will defeat the spam bots or die trying!”Issues relating to spam bots later became one of the key arguments Musk used to try and walk away from the deal. Free speech, and return of Trump?Musk initially addressed his stance on free speech in a tweet back in April, stating at the time, “I hope that even my worst critics remain on Twitter, because that is what free speech means.”In the months since, he has not publically changed his stance and elaborated on what that could mean for the platform, including a return of former United States President Donald Trump, who was permanently banned from Twitter following the Jan. 6, 2021, U.S. Capitol riot.He stated in a May 13 tweet that while he thinks Trump should probably not run for president again because he is “divisive,” Musk does think he should be “restored to Twitter.”Algorithm made publicMusk has also thought about making Twitter’s algorithm accessible to the public, even creating a poll that ultimately saw over one million votes and had 82% of respondents saying “Yes” to the proposal. It’s not entirely clear what Musk has in mind but it could mean allowing the software to be open for public inspection and allow users to read the code, use it for their applications and make suggestions for changes to how it works. Other ideasOther ideas have either fizzled out or have already been implemented, such as plans to use blockchain technology and charging 0.1 Dogecoin (DOGE) per tweet or retweet, which Musk later said would not be feasible. Related: Musk’s deal for Twitter looks set to go with original $44B price tagMusk also had the idea of adding an edit button and long-form tweets. However, Twitter may have beaten him to the punch with the edit button after the platform revealed that option recently. test went well, Edit Tweet is now rolling out to Twitter Blue members in Canada, Australia, and New Zealand! US coming soon pic.twitter.com/7NNPRC0t1I— Twitter Blue (@TwitterBlue) October 3, 2022The crypto community continues to be divided over whether the move will be a positive move for the platform, but others have taken to poking fun at the whole situation. Twitter headquarters offices after Elon Musk makes his first changes ⚠️@elonmusk pic.twitter.com/DSinQEtE7V— Sir Doge of the Coin ⚔️ (@dogeofficialceo) October 4, 2022

Twitter appears ready to accept the terms of the deal, announcing in an Oct. 4 Twitter post they intend to close the transaction at $54.20 per share.

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GameFi could be the answer to unemployment for some — Aussie game studio

GameFi could be the answer to unemployment for some — Aussie game studio

Uverejnil používateľ | okt 6, 2022 |

Australian-based Web3 game studio Ninja Syndicate’s CEO and founder believes GameFi could usher in a new era where users can earn a living wage through blockchain games.Speaking to Cointelegraph, founder John Nguyen and CEO Alex Dunmow say that traditional jobs are increasingly at risk through factors such as automation.According to the game developers, blockchain games can and are playing a vital role for people to earn a living in the digital world through play-to-earn (P2E) and move-to-earn. The process often requires significant work, but Dunmow says many mainstream triple-A games already feature “grinding for hundreds of hours,” though the assets “provide no value for the player.” In GameFi titles digital assets can come in the form of nonfungible tokens (NFTs); users can then take them to a marketplace and sell them for fiat currency or crypto, essentially earning a wage through gaming, argued Dunmow:”NFTs can give you the technical ability to take ownership of a game asset out of the control of the publisher of the game.”One of the best examples Dunmow has seen of people making a living through GameFi was a 2021 report about a community in the Philippines who turned to NFT gaming during COVID, which was now causing a shortage of workers in low-paying jobs as they could earn wages playing blockchain games instead.”I saw the whole situation as a positive, a group of people who were likely being exploited in their low paying day jobs, have found a way to earn wages in the Metaverse.” Dunmow and Nguyen say the negativity around NFTs and blockchain in gaming present a challenge, but through their games, they hope to “subtly educate people about the benefits of NFTs.” The game studio has been developing a set of blockchain games under the “Supremacy World” ecosystem, which involves building, fighting and mining resources within a fictional dystopian world where factions use giant mechs to fight for territory and power.Supremacy will eventually combine four games, a battle arena which is already out, a first-person shooter (FPS), an MMO and a real-time grand strategy (RTS) game.Through the series of four interoperable games, the executives said they are creating an ecosystem where players have “sovereign ownership” over their digital assets and can use them in whatever way they want, explaining: “What interoperable boils down to is being able to share digital assets between games.”However, Nguyen noted that this interoperability also can also extend to “other game worlds, DeFi and PFP collection.””Supremacy will give people who own an NFT, whatever it may be, in-game assets in our world,” said Nguyen, adding that they recently were given a chance to design a custom mech skin for a user based on his Bored Apes’ Yacht Club brand NFT, noting that he can now connect his “ape” and claim his custom skin based on his NFT. Although given the time and resources required, Dunmow acknowledges they won’t be able to custom design something for every user, but he says it shows what is possible. Related: Illuvium co-founder shares plans for new ‘interoperable blockchain game’ modelDunmow said that at the heart of their game, they’re still trying to build a “fun game” which he believes is vital to the industry’s survival, adding that “attracting players from outside the crypto space is crucial, especially in bear markets.” “You make a fun game that has blockchain elements and attracts mainstream players; you are now disconnected from market forces, and you’ll be able to survive any recession.”On Oct. 5, Ninja Syndicate announced a new deal with NFT minting and trading platform Immutable X allowing them to build on Immutable X’s layer-2 ecosystem, joining projects including Illuvium, Gods Unchained and GameStop. 

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Musk's deal for Twitter looks set to go with original $44B price tag

Musk's deal for Twitter looks set to go with original $44B price tag

Uverejnil používateľ | okt 5, 2022 |

In an unexpected u-turn, Tesla CEO and billionaire Elon Musk looks set to complete his $44 billion acquisition of Twitter, alleged spam bots, fake accounts and all. According to the notice filed by Musk’s lawyers with the Delaware Chancery Court on Monday, which was overseeing the trial, Musk is ready to “proceed to closing of the transaction contemplated by the April 25, 2022 Merger Agreement.” It follows several months of legal drama with the social media platform where Musk tried to back out of the deal, citing Twitter’s lack of transparency around spam bots, fake accounts and the financial health of the business, and came just weeks before a rapidly approaching court date to settle the matter on Oct. 17.Musk’s proposed deal comes on the condition that there is “an immediate stay of the action” and adjournment of the trial and pending receipt of financing. Twitter appears ready to accept the terms of the deal, announcing in an Oct. 4 Twitter post they intend to close the transaction at $54.20 per share.Twitter issued this statement about today’s news: We received the letter from the Musk parties which they have filed with the SEC. The intention of the Company is to close the transaction at $54.20 per share.— Twitter Investor Relations (@TwitterIR) October 4, 2022Whether the looming court date prompted Musk’s change of heart is uncertain, however, the Telsa and SpaceX founder has already teased plans for the platform after he takes ownership. Buying Twitter is an accelerant to creating X, the everything app— Elon Musk (@elonmusk) October 4, 2022

Other than the cryptic tweet, Musk has not yet unveiled what the proposed multi-purpose X app is, but in a follow-up tweet on Oct 4, he did mention, “Twitter probably accelerates X by 3 to 5 years, but I could be wrong.” Musk previously mulled turning to blockchain technology to combat spam bots by making Twitter users pay 0.1 Dogecoin (DOGE) to tweet or retweet, according to a transcript of phone recordings.“You have to pay a tiny amount to register your message on the chain, which will cut out the vast majority of spam and bots. There is no throat to choke, so free speech is guaranteed,” Musk said on page 98 of the transcript. He later concluded that blockchain-based Twitter might not be feasible at the moment. Related: Sam Bankman-Fried reportedly intended to join the Twitter deal in MarchThe news that Musk could be the new owner of the social media platform has been met with a mixed response from the Twitter community. Dogecoin creator Bill Markus, also known as Shibetoshi Nakamoto on Twitter told his 1.7 million followers that “if elon musk makes twitter better, then twitter will be better,” adding: “If elon musk ruins twitter, then we don’t have to hear all the stupid things that people say on twitter anymore. that’s a win-win.”Other users were not so optimistic, with one noting that he couldn’t believe “anyone who values @Twitter at all would want @elonmusk to have anything to do with it. In the last 24 hours, the Twitter stock price has jumped 22.24% to a total of $52 a share, according to Nasdaq data. While Dogcoin, which has in the past seen an increase based on the actions of Musk, has had an 8% increase, trading at $0.06 at time of writing according to Coingecko. 

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