Decentralization

A closer look at Unstoppable Domains’ .com integration

Unstoppable Domains recently integrated .com domains into its platform. What implications could this move have?

Unstoppable Domains — a prominent provider of Web3 domains — recently expanded its offerings by incorporating traditional “.com” addresses.

This move marks the first instance of merging conventional Web2 domains with the evolving Web3 domain space. This integration aims to seamlessly connect the existing web infrastructure with the new, allowing users to engage with both types of domains on a single platform.

Integrating .com domains with blockchain technology goes beyond a technical achievement; it’s an effort to enhance user adoption and streamline the overall user experience.

Chainlink Labs enters into a strategic collaboration with Cointelegraph Accelerator to support Web3 startups

Cointelegraph Accelerator is excited to announce a strategic collaboration with Chainlink Labs, the primary contributing developer of the industry-standard decentralized computing platform Chainlink.

Cointelegraph Accelerator is excited to announce a strategic collaboration with Chainlink Labs, the primary contributing developer of the industry-standard decentralized computing platform Chainlink. This collaboration will align the Cointelegraph Accelerator and Chainlink BUILD programs, helping drive innovation and accelerate the growth of next-gen Web3 projects.

The Cointelegraph Accelerator is a global program that supports early-stage and up-and-coming Web3 startups. As part of the collaboration with Chainlink Labs, the Cointelegraph Accelerator will provide Chainlink BUILD projects with marketing support, media strategy, social media playbooks, user acquisition guides, access to the largest industry events, and other benefits that help accelerate their growth.

On the other hand, Chainlink Labs will engage with projects under the wing of the Cointelegraph Accelerator by offering technical support, mentorship and providing access to Chainlink’s decentralized computing platform and expanding their builder communities.

Envision partners with HBAR and UN on new digitization platform for carbon markets

Envision Blockchain and the HBAR Foundation have teamed up with the UN to create a new suite of decentralized tech to streamline the complex carbon markets.

The 2023 United Nations Climate Change Conference, also known as COP28, saw several new initiatives aimed at innovating the fight against climate change and streamlining the complex carbon credit markets.

The dMRV system was developed in collaboration with the UN Climate Change Global Innovation Hub (GIH) and built on the HBAR blockchain.

The platform offers a suite of features, including artificial intelligence and guided search features for the United Nations Framework Convention on Climate Change’s (UNFCCC) Clean Development Mechanism (CDM) methodology library and other standard registries across the carbon market Industry.

The CDM methodology library consists of hundreds of rulesets required to create a carbon credit, independently developed in an analog process supporting the carbon market.

The further scaling of the library of digitized and open-source methodologies allows registries, project developers and other market stakeholders to use digital technologies to resolve trust and transparency issues.

Cointelegraph spoke with Wes Geisenberger, vice president of sustainability and ESG at HBAR Foundation, to understand the importance and workings of the new dMRV platform and how it could help digitize the complex carbon credit market.

Geisenberger told Cointelegraph that the UN GIH/UNFCCC secretariat’s staff were deeply involved in methodology development while supporting the “toughest challenges in climate negotiations.

Bitcoin maxis vs. multichains: Two opposing visions of crypto’s future

Many Bitcoin maximalists are even hesitant to apply the term “crypto” to their preferred asset, as it brooks association with more centralized coins.

Jan3 CEO Samson Mow has said that comparing Bitcoin to crypto is like comparing “an aircraft to a paper airplane.” Ripple CEO Brad Garlinghouse said, “It will be a multichain world.”

These opposing statements are the latest front in the longest-running feud in cryptocurrency — the battle between Bitcoin (BTC) and everything else that followed.

For the crypto masses, those individuals who hold only to a single blockchain are often referred to as the maximalists.

Bitcoin maximalism is almost as old as Bitcoin itself, with the phenomenon emerging not long after its creation.

According to Bitcoin educator and self-confessed Bitcoin maximalist Giacomo Zucco, maximalists hold four truths dearly:

Everything that is not Bitcoin is a scam.
Every attempt at changing Bitcoin is a scam.
Every attempt at pushing people to spend Bitcoin is a scam.
We shouldn’t be nice to scammers.

Even in the earliest days of blockchain, altcoins began proliferating. By 2010, the term shitcoin was born.

Coinbase may face years-long court battle with SEC, CEO warns: Report

At a London fintech conference, CEO Brian Armstrong disclosed that Coinbase might consider leaving the U.S. due to the lack of regulatory clarity in the country.

United States cryptocurrency exchange Coinbase is gearing up for a lengthy legal battle with the Securities and Exchange Commission (SEC) after the regulator warned the company of potential securities law violations, CEO Brian Armstrong told CNBC in an interview on April 18.

Coinbase received a Wells notice from the SEC on March 22, indicating a possible enforcement action. The notice is usually the final step before the regulator files charges. In response, Armstrong expressed disappointment and revealed that the company had not received any clear details from the SEC about the alleged violations. He told CNBC:

“We’ve met with them over 30 times in the last year. […] [We] never got a single piece of feedback from them about what we can be doing better or differently, and then this Wells notice arrived. I think we’re going to have to actually end up going to court to get the clarity we need and create the case law.”

Armstrong said his company is prepared for a lengthy battle with the SEC, if necessary. Armstrong explained to CNBC that while litigation is not a preferred outcome, Coinbase may need to go to court to gain the clarity it requires. The CEO also criticized the SEC’s lack of clarity for companies in the crypto industry, accusing the regulator of an “abdication of responsibility” and failing to publish a clear rulebook for the market.

During a fintech event in London on April 18, Armstrong revealed that Coinbase might consider relocating from the U.S. due to the lack of regulatory clarity. He mentioned that the company is currently looking at other markets, with the United Kingdom being a priority due to its efforts to position itself as a crypto hub.

On April 17, the SEC charged crypto asset trading platform Bittrex and its co-founder and former CEO William Shihara for operating an unregistered national securities exchange, broker and clearing agency. The regulator also filed a separate charge against Bittrex Global.

The SEC’s former chief of the Office of Internet Enforcement, John Reed Stark, shared on Twitter that in light of the SEC’s recent charges against Bittrex, he believes “Coinbase is next.”

The SEC has now charged crypto asset trading platforms Beaxy and Bittrex for operating an unregistered national securities exchange, broker, and clearing agency. IMHO, Coinbase is next. Don’t shoot the messenger.https://t.co/RI8Vih2t8S pic.twitter.com/OSL3hLLRkR

— John Reed Stark (@JohnReedStark) April 17, 2023

Magazine: Best and worst countries for crypto taxes — Plus crypto tax tips

Gnosis Chain spends $5M on validator incentive program for decentralization

The program offers 388 mGNO to each of the first ten validators that runs in a listed country.

Gnosis Builders, developer of blockchain network Gnosis Chain, has announced a $5 million project to increase the number and diversity of validators through incentive mechanisms. The new project is called “Gnosis VIP,” according to an April 18 announcement from the company.

As part of the new project, Gnosis is launching a “Geographic Diversity Program” that seeks to increase the number of countries Gnosis Chain validators are located within.

The network currently has over 100,000 validators spread across 60 countries, and the program’s goal is to increase the number of countries to 180 by year’s end, the announcement said.

According to the program’s official webpage, for each of the 90 countries listed, the first ten validators that start operating within them will receive 388 meta Gnosis (worth $1,368.18 at April 12 prices) over the course of six months. Meta Gnosis (mGNO) is the wrapped and staked version of the network’s native coin, Gnosis (GNO). Each mGNO can be redeemed for 1/32 GNO.

The first payment of 38 mGNO ($134) will be disbursed after the first 30 days the node operates. The size of the payment will increase each month, and the last payment at the end of the six months will be for 98 mGNO ($345.57).

In an email statement to Cointelegraph, Gnosis CEO Martin Köppelmann expressed hope that the new program will help to improve both the security and performance of Gnosis Chain:

“A diverse validator set is paramount for a resilient and secure network […] Geographical diversity hedges the network against both natural and jurisdictional disasters [and] can also improve the performance of a network; by having validators located in different parts of the world, transactions can be processed more quickly and efficiently.”

Debates often rage in the crypto community over which networks are the most decentralized, with many experts claiming that a network cannot be scalable, secure, and decentralized at the same time. This conflict in design philosophy is often called the blockchain trilemma.

In his email statement, Köppelmann emphasized that geographical diversity is only one aspect of decentralization, and others are also important to ensure resilience and security.

Aleph Zero launches $50M ecosystem funding program

The Funding Program for the ecosystem involves grants, incubation, and acceleration for all phases of product development, with approved applicants receiving up to $500,000 per project.

Aleph Zero is launching a $50 million Aleph Zero Ecosystem Funding Program, the layer-1 privacy-enhancing blockchain announced on April 18. The nonprofit Aleph Zero Foundation overseeing its development of Aleph Zero aims to support developer teams to build on its platform and advance blockchain adoption globally.

In an interview with Cointelegraph, Aleph Zero co-founder Antoni Zolciak shared that “the goal of the Aleph Zero Ecosystem Funding Program is to fund innovations from developer teams that expand the capabilities, functionalities, and adoption of the Aleph Zero blockchain.” Zolciak also told Cointelegraph that the program would support various project ideas, from proof-of-concept to experienced teams with solutions on different platforms.

Aleph Zero wants to attract developers by providing comprehensive support that goes beyond just grants, such as assisting with business feasibility, regulatory compliance and community-building. The foundation seeks to offer access to a reliable partner network, as well asshare its own experience in building something from scratch. “We’re hoping to introduce a somewhat redesigned approach to how layer-1s can support builders and to go beyond simply providing grants,” said Zolciak.

The Ecosystem Funding Program comprises of grants, incubation and acceleration at all stages of product development, with successful applicants receiving up to $500,000 per project in grant funding. Additionally, grant recipients will gain exclusive access to Aleph Zero’s venture capital pool, infrastructure credits from Amazon Web Services and security design consultations from Kudelski Security. The Aleph Zero partner network will also provide marketing, branding, UX, product design and operational support as needed.

Speaking on the kinds of projects Aleph Zero is interested in supporting and the criteria for selecting grant recipients, Aleph Zero ecosystem lead Magdalena Oleksy told Cointelegraph that “the Aleph Zero Foundation is actively seeking to support a diverse range of projects that add value to the ecosystem. When selecting grant recipients, we consider the ability of the team to enhance network usage and adoption, their execution capabilities, and the uniqueness of the project.” Ultimately, the foundation seeks to encourage innovation and originality in proposals.

The program’s pilot phase has already produced a range of projects, such as decentralized lending and borrowing protocol Abax, NFT marketplace ArtZero, domain name service AZERO Domains, unique dark metaverse experience DRKVRS, enterprise-grade decentralized identity platform Gatenox and decentralized security platform Interlock.

Aleph Zero’s Ecosystem Funding Program is backed by long-term contributors to the project, including NxGen, Diamond Atlas Capital, BlackDragon, Necker Ventures, Hodl.nl and Hodl Ventures, Pragma Ventures, RR2 Capital, Cardinal Cryptography and Cardinal Ventures, Bellwether Rocks and Offbeat.

Despite recent ecosystem funding news, venture capitalist investment into crypto firms continued to fall in the first quarter of 2023. According to a report by Galaxy Research — the research arm of crypto investment firm Galaxy Digital — $2.4 billion invested by VCs throughout Q1 2023 was the lowest sum invested since the last quarter of 2020.

The report said that “Companies building in the Web3, NFTs, DAOs, Metaverse, and Gaming subsector raised the most deals, while Trading, Exchange, Investing, and Lending companies raised the most capital ($538m).”

VC investments have been falling since peaking at nearly $13 billion in Q1 2022, with the latest quarter’s results representing a decline of over 80% compared to the same to last year.

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Fight between crypto and governments “just getting started”, says ShapeShift CEO

The crypto industry needs to prepare for increasing government pressure as it ramps up its challenge to the State monopoly over money, says ShapeShift CEO Erik Voorhees.

Despite the unprecedented regulatory pressure that crypto has been facing recently in the United States, the fight between the American government and the crypto industry has just started, believes ShapeShift CEO Erik Voorhees.

According to the entrepreneur, U.S. authorities still don’t see crypto as an existential threat to the fiat system, and their recent crackdown is just an opportunistic reaction to last year’s blowups of fraudulent crypto companies.

“They see it as sort of this scammy area where they can come in and look like the hero for cleaning up a mess,” Voorhees said in an exclusive interview with Cointelegraph.

According to Voorhees, crypto needs to become mainstream before governments move against it fully. At that point, “it will be too late” for government actors to crack down on crypto since too many people will be aware of its value and utility.

Voorhees has no doubt that crypto will ultimately win the battle for the hearts and minds of people in part because it is free from the restrictions on capital flow that are present in traditional finance systems.

“Capital goes where friction is least […]. In the crypto world, capital moves freely, it moves effortlessly,” he pointed out.

Watch the full interview on our YouTube channel and don’t forget to subscribe!

Fight between crypto and governments “just getting started,” says ShapeShift CEO

The crypto industry needs to prepare for increasing government pressure as it ramps up its challenge to state monopoly over money, says ShapeShift CEO Erik Voorhees.

According to the entrepreneur, U.S. authorities still don’t see crypto as an existential threat to the fiat system, with their recent crackdown an opportunistic reaction to last year’s blowups of fraudulent crypto companies.

“They see it as sort of this scammy area where they can come in and look like the hero for cleaning up a mess,” Voorhees said in an exclusive interview with Cointelegraph.

According to Voorhees, crypto must become mainstream before governments move against it fully. At that point, “it will be too late” for government actors to crack down on crypto since too many people will be aware of its value and utility.

Voorhees does not doubt that crypto will ultimately win the battle for the hearts and minds of people, partly because it is free from the restrictions on capital flows in traditional finance systems.

“Capital goes where friction is least […]. In the crypto world, capital moves freely; it moves effortlessly,” he pointed out.

Watch the full interview on our YouTube channel and don’t forget to subscribe!

Crypto lender Amber Group considers selling Japan unit: Report

Amber’s review of its Japan operation is part of a strategic shift toward institutional business, away from retail business.

Amber Group, a Singapore-based crypto lender, is considering selling its Japanese unit as part of its plan to focus more on institutional business rather than retail business, Bloomberg reported.

According to managing partner Annabelle Huang, Amber is currently evaluating options for its Japan operation, including a potential sale, though no deal has been finalized. Huang noted that Japan is a “very high quality market, but regulations are strict.”

Meanwhile, Amber plans to apply for a virtual asset trading platform license in Hong Kong following the special administrative region’s push to become a digital-asset hub. Huang said that the regulatory scene in Hong Kong has been very bullish for the firm.

Hong Kong is aiming to develop virtual-asset regulations that will encourage growth and protect investors, in contrast to Singapore, which has been tightening its rules on cryptocurrencies, especially for retail investors. “Hong Kong is sort of leading the way at the moment, but I think Singapore is not exactly closing the door as well,” Huang added.

In December 2022, Amber Group secured $300 million in a Series C funding round led by Fenbushi Capital US. The decision to proceed with Series C came after the collapse of FTX, causing Amber to pause its previous Series B funding. Before the FTX collapse, Amber was in the process of completing an extension of its Series B, aiming to raise $100 million at a $3 billion valuation.

The FTX fallout impacted Amber Group operationally as well, with the company reportedly laying off over 40% of its staff.