Autor Cointelegraph By Zhiyuan Sun

Komodo to introduce 12 blockchain protocols in the next version of AtomicDEX

Komodo to introduce 12 blockchain protocols in the next version of AtomicDEX

Uverejnil používateľ | jan 12, 2022 |

On Wednesday, Komodo, a multichain architecture network, announced the introduction of 12 protocols on its non-custodial multi-coin software wallet and atomic swap-powered decentralized exchange AtomicDEX. The 12 protocols consist of Avalanche, Polygon, Harmony, Fantom, smartBCH, Ethereum Classic, Moonriver, KuCoin Community Chain, Huobi ECO Chain, Ubiq, Arbitrum and Optimism, with the latter two being wallet-only. After the upgrade, users will be able to swap Avalanche tokens to Polygon, Ethereum to Binance Smart Chain (BSC), etc., and vice versa.Unlike cross-chain functionality, multi-chain enables users to access their crypto without the use of wrapped or proxy tokens, with potentially better security results. Kadan Stadelmann, chief technology officer of Komodo, commented:”Adding these protocols like Polygon and Avalanche adds a whole new level of accessibility for users to make quicker and smoother cross-chain and cross-protocol transactions while still keeping custody of their keys.”According to Komodo, the year prior, AtomicDEX integrated BSC and made the first-ever native cross-chain swap from BSC to a non-BEP-20 (BSC) blockchain. As a non-custodial wallet, users can hold funds or withdraw to an external wallet at any time. AtomicDEX charges zero fees for market makers and 0.13% on the total value of the transaction for market takers.

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Seba Bank raises $119M in Series C funding

Seba Bank raises $119M in Series C funding

Uverejnil používateľ | jan 12, 2022 |

Seba Bank, a Swiss-based digital assets banking platform regulated by the Swiss Financial Market Supervisory Authority, announced on Wednesday that it had completed a successful Series C funding round of 110 million Swiss franc, or $119 million U.S. dollars. Notable investors in the round included cryptocurrency exchange FTX, quantitative digital currency trading firm Alameda Research, decentralized finance asset management firm DeFi Technologies, and venture capital entities such as Altive, Ordway Selections and Summer Capital.The bank said it plans to use the funds to fuel international growth and drive demand from institutional investors in the digital assets industry. Seba has been at the forefront of crypto innovation in Switzerland. In September 2021, the firm was granted the first Swiss digital asset custody license. One month later, it launched a program for users to earn yields on their DOT, XTZ and ADA holdings. In December 2021, the bank launched its own regulated gold token exchangeable with physical gold on-demand, which could potentially be used as a gold-standard digital currency. Seba Bank became fully operational to professional investors and institutional clients in 2019.Jonathan Ordway Fackelmayer, Chairman of Ordway Selections, issued the following statement regarding the development: “We are delighted to be part of the lead-investor consortium alongside Altive and Summer Capital. They both hold a deep knowledge of financial services and technology applications. Our consortium believes SEBA Bank is uniquely positioned to respond to the needs of the ever-growing and demanding pool of cryptocurrency investors worldwide.”

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Ramp expands presence in US with FinCEN regulation

Ramp expands presence in US with FinCEN regulation

Uverejnil používateľ | jan 11, 2022 |

On Tuesday, crypto-fiat gateway payments platform Ramp announced that its U.S. subsidiary Ramp Swaps LLC had received its registration as a Money Service Business with the Department of Treasury’s Financial Crimes Enforcement Network. The regulatory greenlight enables Ramp to do business in 38 states across the United States. Besides the development, Ramp also has regulatory clearance with the United Kingdom’s Financial Conduct Authority and Poland’s Financial Supervision Authority.Ramp allows users to buy crypto directly in their wallets and decentralized applications, or DApps. Last year, the company grew its transaction volume by approximately 30x. It has partnerships with over 400 blockchain entities worldwide, including Axie Infinity, Mozilla, Opera Browser, Aave, Trust Wallet and is the exclusive on-ramping partner for fantasy nonfungible tokens football (soccer) game Sorare.The year prior, Ramp raised $52.7 million in a Series A funding round led by Balderton Capital, NFX, Galaxy Digital, Seedcamp, Firstminute Capital and angel investors. The firm claims that it takes mere hours for developers to integrate their DApps with Ramp software, allowing users to convert their fiat money into crypto and begin their virtual experience.Szymon Sypniewicz, CEO and co-founder at Ramp Group, issued the following statement regarding the development: Our view has always been that, to lead in this market, on-ramp providers must earn the trust of their partners and users. So we have taken every measure to meet, if not exceed, the relevant legal and financial standards that apply to us, no matter how stringent.

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Zero-knowledge scaling tech Plonky goes live on Polygon

Zero-knowledge scaling tech Plonky goes live on Polygon

Uverejnil používateľ | jan 11, 2022 |

On Monday, Polygon (MATIC), a layer two Ethereum (ETH) scaling solution known for its fast transaction times and negligible gas fees, announced the launch of Plonky2, a zero-knowledge scaling technology claimed to be the fastest in the world. Zero-knowledge algorithms ensure everything is correctly computed on layer two and return the succinct proof to Ethereum without sending the entire data. Instead of every miner, or staker, verifying every posted transaction, zero-knowledge allows the verification of simplified rolled-up proofs, thereby significantly speeding up the overall network.1/2 We are proud to announce Plonky2, the world’s fastest ZK scaling tech! Plonky2 is a recursive SNARK that is ~100x faster than existing alternatives! Furthermore, it is Ethereum compatible (it can prove Ethereum transactions and proofs can be verified on Ethereum). https://t.co/al62Wl2xpm— Mihailo Bjelic (@MihailoBjelic) January 11, 2022As told by Polygon, recursive zero-knowledge proofs were largely theoretical in 2014. By 2019, it took about 120 seconds to generate them. In 2020, that number fell to 60 seconds. This year, Plonky2 is set to allow such proofs to be generated in just 0.17 seconds. The network’s developers allege that it is 100x faster than existing alternatives.Such class of algorithms could potentially enable horizontal or linear scaling of blockchains in the future. Nodes do not need to store the history of the blockchain’s transactions to be up and running, thereby increasing the network’s capacity with each one added.Polygon has committed $1 billion to the development of zero-knowledge technologies. In August, Polygon merged with the zero-knowledge blockchain Hermez network for $250 million worth of MATIC tokens. In December, it announced the allocation of up to 250 million MATIC tokens to a deal with cryptography startup Mir. That firm specializes in the PLONK and Halo subcategories of zero-knowledge algorithms, with the latter not needing a trusted setup at all for the verification of proofs.

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3x NBA champion Andre Iguodala becomes the latest athlete to receive salary in crypto

3x NBA champion Andre Iguodala becomes the latest athlete to receive salary in crypto

Uverejnil používateľ | jan 10, 2022 |

On Monday afternoon, Andre Iguodala, three-time NBA champion and the professional basketball player for the Golden State Warriors, announced via Twitter that he would be taking a portion of his estimated $2.647 million annual salary in Bitcoin (BTC). In addition, Iguodala added that he will give out $1 million worth in BTC to fans to increase the digital currency’s adoption. Payments were said to be facilitated by Block’s (formerly Square) Cash App.I’m excited to announce I’m taking part of my salary in BITCOIN w. Cash App! Bitcoin is the future, @klaythompson and I are both believers. To make bitcoin more accessible, we’re giving out $1M in bitcoin back to fans today. Drop your $cashtag w. #PaidInBitcoin & follow @CashApp— andre (@andre) January 10, 2022Iguodala joins the growing list of celebrities, athletes, influencers, and government officials that are doing the same. At least seven NFL players are currently choosing crypto over cash salaries. Last year, Mayor of Miami Francis Suarez and New York City Mayor Eric Adams said they would take their paychecks in BTC, with Suarez taking it up a notch by investing in BTC with his 401(k) retirement savings as well.Taking paychecks in BTC or other crypto could potentially benefit both employers and employees alike. For starters, companies with large percentages of international workers would not need their staff’s private banking information, nor have to make costly, slow turnaround wire transfers to make payments. In addition, it saves employees the trouble of moving their fiat funds to crypto exchanges for investments as they can readily swap the digital currencies they receive for the one they wish. Volatility issues are also easily resolved. Employees who are skeptical or bearish on coins’ near-term movements can simply exchange their crypto paycheck to stablecoins the instant they receive them via a wallet or exchange.

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