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Particle Network’s modular L1 blockchain is a universal settlement layer for a multi-chain ecosystem. It features Chain abstraction and Universal Accounts. Particle Network has introduced its modular Layer-1 blockchain, an upgrade powered by chain abstraction and universal accounts to make user experience across blockchains easier. Particle Network’s L1 is a Cosmos-SDK-based blockchain that will act “as a universal settlement layer for the multi-chain ecosystem.” “ Relying on the Cosmos SDK to build this chain allows us to make it intrinsically modular , retaining its sovereignty while outsourcing key functions like validation and data availability to specialized ecosystem actors. Our L1 is also based on Rollkit and uses Bera chain ’s Polaris framework for EVM compatibility. Furthermore, it leverages a Universal Inter-Block chain Communication (IBC) protocol for interoperability, enabling cheap, fast cross- chain transa...

A blockchain developer fell victim to a crypto scam after responding to a seemingly legitimate Upwork job. Bad actors have turned to Upwork in an effort to lure blockchain developers into downloading malicious software, enabling them to drain crypto currencies from non-custodial wallets. As per a BleepingComputer report, scam recruiters are instructing victims via LinkedIn to download and debug code from two malicious npm packages , hosted on a GitHub repository. One of the malicious npm packages on GitHub | Source: BleepingComputer You might also like: Minnesota man loses $9m in LinkedIn crypto romance scam Once developers execute the packages, a malicious script gains access to their devices. In an interview with BleepingComputer, Antalya-based blockchain developer Murat Çeliktepe revealed losing over $500 from his MetaMask wallet in crypto after opening the npm packages, providing scammers with remote access to his device. The incident extends beyond Çeliktepe, a...

Solana is known for its efficiency and scalability. It operates as a layer-1 protocol, allowing the processing of thousands of transactions per second while minimizing fees. This feature addresses the challenges that other blockchain protocols face.  In 2022, SOL, Solana’s native currency, had a turbulent year due to external factors. However, it has rebounded, rising by 500%. Currently, over 70% of all circulating SOL are staked. Focus on Solana in 2024 Solana’s commitment to high-throughput, low-latency transactions highlights its significance in 2024.  Its architecture has attracted diverse projects, including decentralized finance (defi) and non-fungible tokens (NFTs). This year, Solana is expected to achieve significant breakthroughs within its ecosystem.  It’s an opportune time to explore some of the top projects on Solana that are redefining decentralized technologies.  The below projects showcase Solana’s versatility and role as a c...

Using Web3 and NFTs to create another slate of millionaires isn’t a good use of the technology, says EndeavourXR CEO Amy Peck. The crypto industry should focus on building blockchain-based solutions everybody can benefit from instead of launching cash grabs for brands , says Amy Peck, CEO of tech-focused consulting firm EndeavourXR. Peck told Cointelegraph at the Lisbon Web Summit that Web3 firms should be build-first oriented and create attractive products to draw newcomers . She added using Web3 and nonfungible tokens (NFTs) as “just another money grab from brands ” to create another slate of multi-millionaires “doesn’t seem like a good look” nor a good use of what is an “elegant technology.” “This is an infinite landscape. The money’s going to be there, right? Let’s build a better bread box. We have the opportunity to do something really interesting and reinvent this economic construct, invite more people to the party, not just create another 1%.” Obtaining an on-chain proof of id...

According to the researchers, people’s penchant to misinterpret patterns could be a boon for charitable organizations that accept cryptocurrency. A team of academic researchers from the U.S. recently published a study exploring how the “gambler’s fallacy” affected cryptocurrency donations. Their findings indicate that organizations accepting crypto donations could benefit from timing the market.  Essentially, the team’s work explores the idea that people generally misinterpret certain pattern signals when it comes to finance. Charities that understand the penchant for crypto holders to hold or move assets based on perceived market conditions may be able to optimize their strategies to reap larger donations. Per the paper: “Our findings support actionable recommendations for how charities can design more intentional fundraising campaigns to take advantage of the cost and time efficiencies of cryptocurrencies. By considering recent changes in cryptocurrency prices and highlighting the u...

Historically, the cryptocurrency market has benefited from the rise in global money supply as the majority of the bull runs in the past coincided with the rise in fiat supply. The rising M2 money supply could propel crypto into another bull rally and help it outperform the traditional markets, according to Raoul Pal, co-founder and CEO of financial media platform Real Vision. Pal’s X post highlighted the correlation between the rising fiat market supply and the start of the crypto bull run. Pal, in an X( formerly Twitter) post, shared a graph comparing Bitcoin’s (BTC) yearly performance against the global M2 money supply, indicating the simultaneous rise of Bitcoin and global M2 supply. Historically, the Bitcoin and cryptocurrency market has started outperforming the traditional financial market with a rise in global M2 supply. Bitcoin vs Global M2 supply. Source: Global Macro Investor The chart above shows that Bitcoin’s price is on the verge of decoupling from the traditional mark...

A Singapore court permitted the use of NFTs to attach legal court orders tokenized as an NFT to issue a freeze order. ​​Welcome to the latest edition of Cointelegraph’s Nifty Newsletter. Keep reading to stay up-to-date with the latest stories on nonfungible tokens. Every Wednesday, the Nifty Newsletter informs and inspires you to dig deeper into the latest NFT trends and insights. In this week’s newsletter, read about how a nonfungible token (NFT) became a focus point in a Singapore court battle, learn about the importance of decentralized random ness in the Web3 gaming sector and find out why Universal Music Group is suing Anthropic over copyright infringement. Singapore court authorizes freeze order attached to wallets as soulbound NFT The Singapore High Court has allowed financial investigation firm Intelligent Sanctuary to attach NFTs containing a legal document to cold wallets associated with a hack, according to United Kingdom-based iSanctuary and local press accounts. A court-...

The MultiversX CEO discussed the recent interest of Meta and Apple in the metaverse domain and analyzed their respective approaches. The Metaverse concept gained a lot of traction both from the crypto community and venture capital firms during the peak of the bull run. The likes of Meta (Facebook) and Apple joining the metaverse bandwagon only gave more legitimacy to the concept. However, the approach of both multi-billion dollar tech firms has been quite a different approach towards it. On one hand, Meta shifted its whole focus to virtual reality (VR) and recently released new smart glasses in partnership with Rayban while Apple incorporated a spatial computing approach and focused on augmented reality (AR) more and launched its own AR glasses earlier this year. Blockchain-based metaverse-focused platform MultiversX CEO Beniamin Mincu believes the spatial computing approach by Apple is more catered towards the metaverse goal than Meta’s VR quest. In an exclusive interview with Coi...

The IRS proposed the new crypto tax reporting rules in August earlier this year and if approved the new crypto tax regime will come into effect from January 2026. Coinbase crypto exchange chief legal officer Paul Singh Grewal called upon the crypto community to join the movement against the United States Treasury’s proposed tax reporting regulations on crypto currencies. Grewal urged the community to oppose the proposed regulations as it could set a dangerous precedent for surveillance. Grewal took to X (formerly Twitter) to address the concerns associated with the proposed crypto tax reporting rules and claimed that the proposed regulations go beyond the congressional mandate to establish tax reporting rules. He added that if the proposed regulations become a law, it would put the “digital assets at a disadvantage and threaten to harm a nascent industry when it's just getting started. “ Everyone who cares about fairness and supports American innovation should chime in on Tre...

Cointelegraph apologizes to its readers and discusses its investigation into what led to the posting of unverified news on X about a spot Bitcoin ETF. Dear Cointelegraph readers, We are incredibly grateful for the support and trust you have placed in our publication over the last 10 years. We strive to deliver the most thoughtful, engaging and impactful news affecting the cryptocurrency space. Earlier today, during routine coverage, Cointelegraph’s social media team posted a message on X without prior editorial approval stating that the United States Securities and Exchange Commission had approved BlackRock’s iShares spot Bitcoin exchange-traded fund, or ETF. This was false , the result of misinformation. The news lead originated from an unconfirmed screenshot posted by an X user who claimed it was from the Bloomberg Terminal. Cointelegraph did not ultimately publish an article with this incorrect information, but we deeply regret posting this in error on X and the impact it has caus...

The plugin is free to use and features up-to-date crypto data sourced from CoinMarketCap. Crypto data aggregator CoinMarketCap, owned by crypto exchange Binance, has created a novel plugin for large-language model (LLM) based AI chatbot ChatGPT. According to the October 11 announcement, users can access the feature by signing in to their ChatGPT Plus account and simply enabling the plugin , allowing them to ask the LLM on a variety of crypto-related questions. There is no additional fee to use the plugin , aside from the $20 per month subscription fee for ChatGPT Plus. "The base ChatGPT has limited use to crypto enthusiasts, as data is mostly restricted up to Sept 2021. ChatGPT's recently-expanded web browsing capabilities likewise have limitations in serving real-time crypto data," developers wrote.  The LLM is capable of generating answers for simple questions such as "How correlated are Bitcoin and Ethereum in 2023?" to "How do variations in token dis...

BIS Innovation Hub Eurosystem Centre, De Nederlandsche Bank, and the Deutsche Bundesbank have launched Project Atlas. This project aims to furnish central banks and financial regulators with a thorough understanding of the crypto market.  Project Atlas gathers information from multiple sources, including off-chain data from various crypto exchanges and on-chain data from public blockchains through nodes.  This allows central banks to be well-informed about the market. Additionally, the platform tracks crypto transactions in different locations within the Bitcoin network. You might also like: BIS and central banks of France, Singapore, and Switzerland wrap up CBDC project The project states: “Though relatively small compared with total on-chain network traffic, identified flows between crypto exchanges are significant and substantial economically,” “The output of Project Atlas could serve as a starting point for preliminary assessments and inform the drafting ...

The Philippine SEC is now collaborating with the U.S. SEC and the Asian Development Bank to better combat crypto-related crime. The Philippines Securities and Exchange Commission (SEC) has teamed up with its United States counterpart, as well as the Asian Development Bank to crack down on criminals using cryptocurrencies to commit fraud and other financial crimes. According to a Sept. 15 press release, the three institutions conducted an International Organization of Securities Commissions (IOSCO) Investigation and Enforcement Training workshop last month, in a bid to upskill their combined fraud and scam prevention toolkit when it came to crypto -related crimes. The Securities and Exchange Commission (SEC) Philippines collaborating with international organizations to further its mandate of protecting the public from securities fraud and other forms of investment scams. Read more at https://t.co/TzdieiKRSp#SECupdates pic.twitter.com/3ANDH9yrwC — SEC Philippines (@SEC_Philippines) Se...

While TradFi is the main source of demand for blockchain tech, digital identity and supply chain are exciting areas too, according to Google Cloud Head of Web3 James Tromans. The crypto industry is far too focused on token prices, rather than figuring out how smart contracts can be used to solve real-world business problems, according to Google Cloud's Web3 lead.  In an interview with Cointelegraph, Google Cloud’s Head of Web3 James Tromans stressed the need to focus more on the business logic in the smart contract rather than the supply and demand dynamics of the token : “What are the business problems that you want to get executed? When you're running a smart contract to execute some business logic to solve your business problem, you're using a token, but the token is not the thing, it’s the business problem that's the thing.” “So I would like us to get away from all this talk about token s and token speculation as if that is Web3 — that is not Web3,” Tromans added...

Deaton clarified that even if an appeal were possible in such a situation, the agency's authority would be diminished. Amidst speculation regarding a potential resolution between Ripple and the United States Securities and Exchange Commission (SEC), attorney John Deaton, representing numerous XRP token holders, has outlined the possible steps the two parties might take if they opt for a settle ment. Addressing the factors that might impact a potential settle ment between the two parties, attorney Deaton pointed out the significance of the ongoing Coinbase vs. SEC lawsuit. He explained that if the judge in the Coinbase case grants the exchange's motion to dismiss, it would indicate that token sales on the exchange are not subject to U.S. securities laws, although the crypto staking aspect remains part of the legal proceedings. He explained in a post, “The only way Ripple and the SEC (could) settle before the end of the year is if Judge Failla grants the Coinbase motion to dism...

The exchange operator is instituting new KYC requirements for users from September 2023 to comply with developing global regulatory guidelines. Seychelles-based cryptocurrency derivatives exchange Bitget is updating its Know Your Customer (KYC) requirements for users to stay in step with global regulatory guidelines.  According to the company, the new KYC requirements are being instituted to protect user rights and interests, shape a secure cryptocurrency trading environment and comply with regulatory recommendations from various global watchdogs. BitGet will adjust its KYC verification requirements from September 2023, with newly registered users required to complete level 1 KYC verification to access a variety of Bitget’s services including deposits and trading of cryptocurrencies. Bitget's updated KYC mandate. Source: Bitget Users that signed up to the platform before Sept. 1 are required to complete KYC verification by Oct. 1, 2023. The derivatives exchange notes that user...

Jeffrey Huang withdrew the lawsuit after ZachXBT edited his article that Huang claimed to be defamatory. Taiwanese music celebrity Jeffrey Huang, also known as "Machi Big Brother," has withdrawn a defamation lawsuit against internet sleuth ZachXBT. In a bilateral announcement dated Aug. 14, Machi Big Brother said "Zach has many times in the past been of great service to the crypto community and pursuing legal action against him was a last resort but not the right path," after ZachXBT made a series of his amendments to his article that sparked the defamation suit from Huang.  I am withdraw ing my defamation suit against @zachxbt. Zach has many times in the past been of great service to the crypto community and pursuing legal action against him was a last resort but not the right path. I appreciate that Zach has made important amendments to his… — Machi Big Brother (@machibigbrother) August 14, 2023 Meanwhile, ZachXBT stated that he "updated my article with...

Blockchain technology has gained significant recognition as an important and innovative technology in recent years. Despite facing initial challenges with adoption and recognition, its perception has gradually evolved. Various firms and government institutions are increasingly exploring blockchain technology for diverse purposes. Back In January, the e-commerce giant partnered up with Avalanche to ramp up its blockchain adoption. Also read: Canada Discloses Rules Governing Crypto Assets in Financial Institutions Now, according to the details from the latest announcement, Amazon has expanded its Amazon Managed Blockchain, to ramp up the availability of access and query functions. Source: The Economic Times Amazon made the announcement during the Blockchain summit AMB Access, the latest offering from AMB, introduces an extended range of node services that ensure serverless and scalable access to blockchain s. Additionally, by utilizing standard remote procedure ...

The XRPL saw a significant increase in the total new address count, which reached 138,790, representing a growth of 31.8% compared to the same period last year. Despite lingering concerns over the Ripple vs SEC lawsuit , XRP has demonstrated significant growth in multiple areas of its protocol during the second quarter (Q2) of this year, as revealed by a recent report from crypto analytics platform Messari. Based on data from Messari, XRP's circulating market cap has experienced a Year-to-Date (YTD) increase of 42.5%. This growth was driven by the asset's price surge in the first quarter. However, in the second quarter (Q2), the market cap declined by 10.7% Quarter on Quarter (QoQ), from $27.8 billion to $24.8 billion. Although the XRP network experienced a decline in transaction volume QoQ, there was a notable 12.7% QoQ increase in average daily non-fungible token (NFT) transactions, rising from 13,800 to 15,500. While XRP's XRPL has a strong presence in decentralized ...

The motion to dismiss argues that even if all the allegations in the lawsuit are true, the plaintiff does not have a valid legal claim. In the ongoing legal battle between Coinbase and the United States Securities and Exchange Commission (SEC), the American cryptocurrency exchange has filed a motion to dismiss the SEC’s complaint. In a legal document filed on Thursday, June 29 with the U.S. District Court for the Southern District of New York, Coinbase raised concerns about the SEC’s interpretation of securities laws, suggesting the agency was reaching beyond its legal authority. This move underscores Coinbase’s determination to challenge the SEC’s lawsuit. The motion to dismiss argues that even if all the allegations in the lawsuit are true, the plaintiff does not have a valid legal claim . Coinbase’s legal team stated in the filing: “Even if the SEC were correct that the assets and services it identifies are within the scope of its existing regulatory authority, this [legal] actio...