Značka: Developers

3 reasons why Harmony (ONE) rallied back to its all-time high this week

Bitcoin price is still a ways from its $69,000 all-time high but this isn’t stopping altcoins from moving toward new highs. Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $0.13 on Dec. 4, the price of Harmony (ONE) has risen 163% to establish a new all-time high of $0.38 on Jan. 14 ONE/USDT 1-day chart. Source: TradingViewThree reasons for the growing strength of Harmony include an expanding ecosystem, the launch of multiple cross-chain bridges and developers interest in finding Ethereum network alternatives.ONE benefits from Harmony’s $300 million ecosystem development fundOne of the biggest boosts to the overall health of the Harmony ecosystem began back in September when the project launched a $300 million developer incentive program designed to help fund bug bounties, grants and the creation of 100 decentralized autonomous organizations (DAOs) on Harmony. Since the launch of the program, 23 DAOs have been funded and launched on the Harmony network with more currently in development. The incentive program has also helped attract multiple protocols to the Harmony blockchain in some of the most popular sectors of the ecosystem, including DeFi, payment platforms and nonfungible token (NFT) projects. 1/ @harmonyprotocol approves 21 more proposals for its $300M Ecosystem Fund DeFi: @epnsproject @AnChainAI @perpprotocol @freyalacryptoPayments: @Allbridge_io @MIM_Spell @klever_io @Trustee_WalletNFT: @TheDeFimons @KangaFinance @StoreyTheApp @NiftyRow And more ⬇️ pic.twitter.com/zxyl4Z3wWJ— Harmony (@harmonyprotocol) January 13, 2022Cross-chain bridges help raise Harmony’s prospectsAnother reason for Harmony ‘s recent strength is the launch of several cross-chain bridges that connect the Harmony network with other Ethereum Virtual Machine compatible networks like Celer and Polygon. 1/ We are excited to announce that @CelerNetwork has extended support to @harmonyprotocol.ONE users can now use the multi-chain ‘cBridge’ to transfer $USDC and $WETH instantly and at a low-cost. More ⬇️— Harmony (@harmonyprotocol) January 12, 2022

On top of the most recent integration with the Celer c-bridge, which enabled the cross-chain transfer of USD Coin (USDC) and Wrapped Ether (wETH), Harmony launched a cross-chain NFT bridge as part of the Horizon bridge back in November of 2021. Most recently, the project revealed a collaboration with the L1 protocol Cosmos to create a bridge between the two rapidly growing ecosystems in an effort to further expand its interoperability and help scale cross-chain finance. 1/ We are glad to announce that we have approved a grant for @datachain_en to build a bridge between Harmony & @cosmos.Datachain’s experience in building interoperability solutions using trustless intermediaries is peerless. ONE step closer towards scaling cross-chain finance pic.twitter.com/27ueWWUkT0— Harmony (@harmonyprotocol) January 12, 2022

Harmony is also in the final stages of creating a native bridge to the Bitcoin network which is expected to be released before the end of Q1 2022.Related: ICON commits $200M to interoperability incentive fundNew users and ecosystem growth back record high TVLAnother bullish metric backing Harmony’s growth is its rising TVL, which is now at an all-time high of $1.25 billion according to data from Defi Llama. Total value locked on Harmony. Source: Defi LlamaSeveral DeFi protocols are thriving on the Harmony network, including DeFi Kingdoms (JEWEL), which accounts for $747 million of the TVL, Tranquil Finance with $201.85 million and Viperswap with a $54.4 million TVL. VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for ONE on Jan. 8, prior to the recent price rise. The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.VORTECS™ Score (green) vs. ONE price. Source: Cointelegraph Markets ProAs seen in the chart above, the VORTECS™ Score for ONE spiked into the green zone on Jan. 8 and hit a high of 75 around 48 hours before the price proceeded to increase 50% over the next four days. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Ethereum dominates among developers but competitors growing faster

The Ethereum ecosystem still has far more developers than rival networks, but they are catching up with a faster rate of growth.Ethereum competitors such as Polkadot, Solana, and Binance Smart Chain are growing faster in terms of development activity according to crypto research firm Electric Capital which released its findings on the blockchain development ecosystem in a new report on Jan. 6. It revealed that more than 4,000 monthly active open-source developers work on Ethereum — considerably more than the 680 who work on the Bitcoin network. Across all chains, the total monthly active developers measured was more than 18,400 and the record was broken for the number of code commits by new developers in 2021 with more than 34,000.The measurements were gleaned by analyzing around 500,000 code repositories and 160 million code commits, which are changes or updates to the code. The report noted that Ethereum, Polkadot, Cosmos, Solana, and Bitcoin are the five largest developer ecosystems overall.According to the report, Polkadot has around 1,500 developers in total, while Cosmos and Solana are around a thousand each. Other active ecosystems in terms of monthly developers were Cosmos, NEAR which launched an $800 million developer fund in October, Tezos, Polygon, and Cardano each with more than 250 active monthly developers.While Ethereum is still dominant — more than 20% of new Web3 developers joined its ecosystem — rival networks have seen greater growth.“Polkadot, Solana, NEAR, BSC, Avalanche, and Terra are growing faster than Ethereum did at similar points in its history.”Ecosystem dev growth since first commit – Electric CapitalThe report compared the average monthly active developers between Dec. 2020 and Dec. 2021, noting that Solana grew by 4.9 times, NEAR had a 4X growth rate, and Polygon’s monthly developers more than doubled. Cosmos had a 70% increase in average monthly active developers and BSC 80% over the course of 2021.While the development growth figures are impressive for more early-stage projects, Ethereum is still the king. The ecosystem continues to retain the largest network of tools, dapps, and protocols and is 2.8 times larger than its closest rival, Polkadot.Related: ‘We are 50% of the way there,’ says Vitalik on Ethereum’s developmentSolana, Avalanche, BSC, NEAR, and Terra have emerged as DeFi hubs over the past year or so, attracting more developers as adoption increases. DeFi full-time monthly active contributors grew by 64%, and more than 500 new developers contributed code to a DeFi project every month last year aside from January, it reported.

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NFT-focused holding company raises $50 Series A

Digital asset curator Metaversal announced Tuesday that it has completed a $50 million funding round to further expand its investment capabilities in the nonfungible token (NFT) and metaverse sectors. The Series A funding round was co-led by investment firms CoinFund and Foxhaven, with additional participation from Collab+Currency, Dapper Labs, Digital Currency Group, Franklin Templeton, Rarible, Theta Blockchain Ventures, Galaxy Vision Hill and others. Metaversal said it will use the funding to expand its NFT-focused business, including acquiring high-profile digital collectibles and supporting projects that are being bootstrapped by its venture studio. The funding also enabled Metaversal to secure partnerships with NFT platform Rarible and Dapper Labs’ Flow blockchain. Flow, which provides the infrastructure for NBA Top Shot and CryptoKitties, is also being supported by Google and Filecoin, among other notable partners. Related: Square Enix CEO reveals plans for blockchain, metaverse, NFTsNFTs were a major factor behind crypto and blockchain’s mainstream success in 2021. The sector generated over $14 billion in sales during the year, with digital art collections and digital collectibles accounting for 91% of transactions, according to industry data. While digital art has largely dominated the NFT market to date, that could soon change with the arrival of music NFTs and fashion-focused collectibles. NFT sales peaked in late August and early September. Source: NonFungibleVenture funds have also identified NFTs as a major growth vector and have funded projects in this space to the tune of $2.1 billion as of Q3 2021. Silicon Valley venture firm Andreessen Horowitz was responsible for nearly 40% of NFT-focused deal activities, according to PitchBook. As Cointelegraph reported, venture funds invested over $17 billion into crypto- and blockchain-focused startups in the first 10 months of 2021, which was more than three times the amount in all of 2020. 

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Bitcoin Core developer Samuel Dobson decides it is ‘time to go’

Developer Samuel Dobson announced via a series of tweets on Thursday night that he is stepping down as a Bitcoin Core maintainer after three years as he “can no longer dedicate the time required, as I approach the end of my Ph.D.”I am officially stepping down as a maintainer of Bitcoin Core.Serving as the wallet maintainer for the past three years has been an absolute privilege, and I want to thank my incredibly generous sponsor John Pfeffer (@jlppfeffer) for his support throughout. /1— Samuel Dobson (@meshcollider) December 9, 2021As a Bitcoin Core wallet maintainer, Dobson had direct access to the cryptocurrency’s code on GitHub, with permissions to approve changes and make improvements to the Bitcoin software. He was also responsible for ensuring the security of the protocol.When asked if there’s a chance that he will come back to BTC Core development one day, Dobson answered Cointelegraph that his Ph.D. is his primary focus at the moment. And even though he hasn’t decided what he will do upon graduation, he is not interested in the development of other cryptocurrencies.Dobson stated that he is particularly grateful for the support of his “incredibly generous sponsor” John Pfeffer, without which he would not have been able to prioritize working on Bitcoin part-time.He made an appeal to the Twitter community to consider financially supporting a developer due to the nature of open source projects. He also told Cointelegraph:“Bitcoin Core development has obviously grown immensely since its conception back with Satoshi. As an open source project, it will always be in an interesting and more difficult position funding-wise, but things like Brink, Chaincode, Spiral, and direct developer sponsorship via GitHub have helped a lot.”Bitcoin has already lost two maintainers since October. With Dobson’s departure, the number of developers with direct access to Bitcoin code has dropped to five, according to an updated list on the Bitcoin Forum.

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Vitalik Buterin outlines ‘endgame’ roadmap for ETH 2.0

Ethereum co-founder Vitalik Buterin has outlined his vision for a “plausible roadmap” for Eth2, presenting a future where the largest smart-contract platform can increase its scalability while meeting high standards for trustlessness and censorship resistance. In a Monday post titled “Endgame,” Buterin presented a thought experiment for how the average big blockchain — defined by very high block frequency, high block size and thousands of transactions per second — can still be considered sufficiently trustless and censorship-resistant. The obvious trade-off for this level of scalability is the centralization of block production. Buterin’s solutions, as presented in the blog post, do not address the centralization issue, but still provide a roadmap for implementation. [embedded content]With respect to the solutions, Buterin suggested “a second tier of staking, with low resource requirements,” to carry out distributed block validation; “introduce either fraud proof or ZK-SNARKS to let users directly (and cheaply) check block validity” directly; “introduce data availability sampling to let users check block availability [and] add secondary transaction channels to prevent censorship.”With these updates, “We get a chain where block production is still centralized, but block validation is trustless and highly decentralized, and specialized anti-censorship magic prevents the block producers from censoring,” Buterin explained. Related: Vitalik Buterin proposes calldata limit per block to lower ETH gas costsButerin said block production would remain centralized even with the implementation of so-called “rollups,” which are layer-two solutions that execute transactions outside of the main Ethereum chain. (Interestingly, Buterin presented a rollup-centric roadmap for Ethereum in October 2020). “No single rollup succeeds at holding anywhere close to the majority of Ethereum activity. Instead, they all top out at a few hundred transactions per second,” he said. While it may appear that rollups could contribute to distributed block production, decentralization may not last because of the possibility of cross-domain maximal extractable revenue, or MEV. As the name implies MEV refers to the maximum amount of value that can be earned from block production in excess of standard block rewards and gas fees. The Ethereum co-founder concluded that there’s a high probability that block production will ned up centralized regardless of the path to scalability that the network takes. The benefit of Ethereum’s rollup-centric roadmap is that it’s open to all futures, he said. Eth2 isn’t going to solve all of society’s challenges, but its design is well suited to empower people to solve them together, argues @ViktorBunin https://t.co/JhBvyVjr49— Cointelegraph (@Cointelegraph) April 24, 2021Excitement surrounding ethereum has been building since November 2020 when the protocol first embarked on its long transition to proof-of-stake. The highly anticipated London hard fork, which puts ETH on track to become a deflationary asset, was implemented in August of this year. The hard fork introduced EIP-1559, which aims to reform the network’s fee market. As Cointelegraph reported, over 1 million ETH has already been burned since the EIP-1559 came into effect.

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