The popularity of leverage trading platforms on the crypto market has grown among traders looking to maximize their gains by borrowing funds. The use of leverage allows for traders to take on larger trades than they could otherwise afford. This effectively multiplies the result of a transaction without any significant investments. Even small changes in […] More
Layer-2 networks are a new field of technology innovation that aims to enhance the capabilities of Layer-1 Blockchains like Bitcoin and Ethereum. They address fundamental blockchain limitations, notably in the areas of speed, scalability and cost. Layer-2 solutions operate on top of main chains, processing transactions and interactions before they are recorded to the base layer. This reduces congestion and fees.
Layer-2 solutions are the Lightning Network, which facilitates fast and efficient transactions via state channels. Other platforms, such as Arbitrum or Celer Network, that scale Ethereum transactions, also fall into this category. The solutions are based on a variety of mechanisms, including sidechains, rollups, and state channels. Each has its own unique way to overcome the limitations of the base layer.
Layer-2 network evolution is an important piece of the puzzle for blockchain adoption. The development of Layer-2 networks is crucial to ensuring that the blockchain ecosystem meets user performance requirements without compromises on security and decentralization. Layer-2 networks are constantly evolving, as a result of the fast pace of innovation. Numerous projects continue to emerge and evolve in order to serve the community’s diverse needs.
Layer-2 networks exist as protocols on top of the primary blockchains. They are commonly called Layer-1. They are designed to improve the efficiency and scalability of their blockchains.
Characteristics:
State Channels
Rollups:
Sidechains:
The Layer-1 Blockchain records all transactions executed in layer-2 networks as a single proof or transaction. The Layer-1 Blockchain remains as the final custodian for security and decentralization, while Layer-2 Networks handle most of the transactional traffic.
The layer-2 network is essential to enhancing transaction speed and capacity of blockchain systems. These networks provide solutions on top of Layer-1 Blockchains that enable faster, more secure transactions.
Lightning Network, a protocol for instant and low-cost payments, operates over Bitcoin. The Lightning Network is a payment protocol that operates on top of Bitcoin, offering instant and low-cost transactions.
Polygon (formerly called the Matic Network) is a scaling solution that uses multiple chains for Ethereum. It is an infrastructure that allows you to build and connect blockchain networks which can seamlessly interact with Ethereum’s main chain. This allows for cheaper and faster transactions.
Optimism uses Optimistic rollups as a Layer-2 solution to scale Ethereum. This allows for developers to quickly deploy decentralized apps with little change, while facilitating fast transactions and decreasing fees.
Arbitrum, a project which uses rollup technology (specifically Optimistic Rollups) to improve Ethereum’s abilities, is also based on this. Arbitrum reduces the cost of transactions by batching them into one. It also improves the efficiency.
Layer-2 is a complementary technology built upon the base layer, also known as Layer-1. These solutions aim to improve the performance and scalability for blockchain networks.
Collectively, these benefits work together to overcome the limitations of Layer-1 Blockchains. This supports a more intensive and extensive use of blockchains across various sectors.
There are a number of challenges to consider when adopting Layer-2 networks:
Security and trust: While Layer-2 solutions benefit from the security provided by the main blockchain, establishing their security as a solution is crucial. These are two different blockchain ecosystems, each with its own vulnerabilities. This is especially true in the way they interact with Layer-1 chains.
In order to achieve the adoption of Layer-2 Blockchain networks and their continued utility, it is vital that stakeholders carefully examine these factors.
Layer 1 networks, which prioritize security and decentralization in the blockchain, are the base structure. Layer 2 networks, on the other hand, are secondary protocols that build upon Layer 1 for scalability, transaction speed, and to reduce the burden of the main chain.
Polygon, Optimism and Arbitrum networks have all reported improvements in throughput and reduced costs. Optimism and Arbitrum use Optimistic rollups and Polygon uses a range of scaling options, including sidechains.
State channels, Plasma, Optimistic Rollups and Zero-Knowledge Rollups are some of the prominent solutions that address Ethereum scalability problems. The latter two offer a compromise between efficiency and security.
Layer 2 networks use the security model established by the Layer 1 Blockchain and implement off-chain computation or solutions to process transactions faster while posting data periodically back to the main blockchain.
In 2024, emerging projects like StarkNet that utilize Zero-Knowledge rollups and zkSync which pioneered Zero-Knowledge Proofs are worth monitoring as they will push the limits of privacy and scalability.
Layer 2 Blockchains offer developers a better user experience and greater adoption through their increased scalability. This is due to the lower transaction fees and quicker confirmation times.
Shiba Inu is seeking to get approval for the “.shib domain” in order to bridge Web2 technologies with Web3 ones. SHIB holders would be able to create email addresses that are easy-to-use with the “.shib suffix” if approved. D3 also plans to create “name tokens”, which will simplify the transfer of digital assets across blockchains, […] More
Coincheck, the leading Japanese cryptocurrency exchange with headquarters in Tokyo, announced that it would add Shiba Inu to its platform for trading on Dec. 14, 2020. Shiba inu, a meme-based digital currency that is extremely popular, will benefit from this move as it increases access to and liquidity. It marks a significant moment for Shiba inu. Coincheck is a leading player on the Japanese cryptocurrency market. It has always been innovative and offers a user-friendly service, which makes it the preferred option for traders.
Shytoshi KUSAMA, mysterious leader of Shiba Inu, has teasingly teased the cryptosphere with an cryptic post on social media that hinted at a big announcement planned for next week. Kusama teased the Shiba Inu army, a community of Shiba Inu enthusiasts affectionately known as “the SHIB Army,” with a promise of an “year-ending secret.” The post has sparked speculation among the Shiba Inu fans. The enigmatic unveiling, which is poised to become a “world first innovation,” will reshape Shiba Inu’s trajectory, pushing it past its status as a meme currency and into the uncharted cryptocurrency terrain.
Coincheck, a leading Japanese cryptocurrency exchange based in Tokyo has announced the addition of Shiba Inu to its trading platform. This move will have a major impact on accessibility and liquidity for this digital asset, known as a meme coin. It took place on December 14, 2023.
Coincheck, which has a long history that dates back to 2012 under CEO Satoshi Hazuo’s leadership, is a major player on the Japanese cryptocurrency market. Since 2019, the exchange has held the top spot for the most popular crypto trading apps in Japan.
Coincheck’s integration of SHIB in its platform is not surprising, given the global interest that meme coins are gaining. Shiba inu has gained a large following ever since it was launched. SHIB’s addition to Coincheck’s list of supported crypto assets reflects Coincheck’s commitment in providing users access to a wide range of digital currencies.
SHIB’s integration into Coincheck encompasses an entire suite of services that allows users to seamlessly send, receive and purchase the meme coin through Coincheck’s mobile and web app. To access the most accurate SHIB pricing, users must ensure that they are using the latest Coincheck mobile app.
Coincheck has expanded the use of meme coins within its ecosystem, in addition to making SHIB tradeable. SHIB, starting Dec. 15th 2023, will be accepted in Coincheck NFT’s marketplace as payment currency. This gives users more ways to interact with this digital asset.
Coincheck’s dedication to providing a wide range of cryptocurrency and services forms part of its larger strategy to remain competitive and to meet the changing demands of the crypto market. Exchanges need to adapt as the crypto market continues to grow and evolve to stay relevant.
Coincheck has been around for a long time and is familiar with the pitfalls that the crypto industry can present. Early in 2018, Coincheck was the target of one of history’s largest hacks, when $530,000,000 worth of NEM tokens went missing. Coincheck took significant measures to improve its security and gain the trust of users.
Coincheck has followed a recent trend in Japanese crypto exchanges by adding SHIB. BitTrade announced in October 2023 that SHIB would be added to their platform. This was a sign of the increasing interest among Japanese traders for meme coins. SBI VC Trade began trading SHIB in June along with DAI, Cosmos, and ATOM. OKCoin Japan began offering SHIB in 2023. This contributed to the availability of the meme-inspired currency on the Japanese market.
Shiba Inu’s (SHIB), which has been adopted by several Japanese exchanges, shows the increasing popularity of meme coins. This enthusiasm extends beyond their novelty. These digital assets are capturing the attention of investors and traders worldwide. Their integration with established platforms such as Coincheck legitimizes the presence of these assets in the crypto space.
Shytoshi KUSAMA, the mysterious figurehead of Shiba inu, sent shockwaves throughout the cryptocurrency world by teasing a big announcement scheduled for next week. Kusama’s promise of an “end-of-year surprise” has heightened the anticipation among Shiba Inu fans, also known as “the SHIB Army.”
Kusama’s tease has sparked a frenzy, as it comes from an authority within the Shiba Inu eco-system. The specifics are still a mystery but SHIB fans agree that the announcement will change the game.
Shiba’s hint of a “world first innovation” raised the bar, indicating that the cryptocurrency-inspired meme is ready to make a big step. This could propel it beyond its present status and market perception.
Shiba Inus have been buzzing with predictions and theories regarding Kusama’s announcement. The speculations include everything from technological breakthroughs to strategic alliances that would enhance Shiba Inu’s utility in the digital economy.
Shiba inu was born as a meme and has gained a loyal following. The project has evolved in a way that is characterized by its relentless pursuit of utility and innovation beyond memes. Kusama’s announcement appears to be a reflection of this ongoing commitment to growth and development.
Shibarium is the layer-2 solution of the Shiba Inu project. It’s a key development within this ecosystem. Shibarium’s scalability, and its adoption have been a major focus in the recent past. Shibarium, according to the most recent data, has exceeded a whopping 108 million transaction, and an additional 7,36 million new transactions were recorded in a single week.
Shiba Inu is committed to solving some of the most fundamental problems that blockchain networks face, including scalability. Shiba Inu aims at improving the user’s experience by providing a layer-2 solution. It also wants to position itself as a platform that is viable for DApps and digital assets transactions.
The Shiba Inu Community is eagerly awaiting the announcement. From a Shiba Inu meme coin to a blockchain ecosystem with multiple facets, the project has had a remarkable journey. Kusama has promised a surprise at the end of this year, and it seems Shiba Inu will be ready to make another big leap in its search for relevance and innovation within Web 3.0.
Shiba Inu’s team will be closely watched by the cryptocurrency community as they prepare to reveal their next step. The Shiba Inu team is preparing to reveal their next move, which will undoubtedly be closely watched by the cryptocurrency world.
Ledger, which is a provider of hardware wallets for cryptocurrency, suffered a breach on Dec. 14. This affected Ethereum applications such as Zapper, SushiSwap and Balancer. A phishing attack targeting a former Ledger staffer led to an unauthorized entry into the JavaScript connector libraries of the company. The compromised library was used to enable interactions […] More
Today, it’s hard to find anyone who has not heard or knows about the cryptocurrency market. This intriguing space has attained a massive following in recent years, with statistics showing the predicted number of identity-verified crypto asset users by June 2023 as high as 516 million. With so many people in the space, it’s not […] More
It will be harder to keep your identity secret (not easy, but it has been difficult so far). But at the same moment, it will also become easier. It’s not something you would choose if given the choice.
RealDID, a blockchain-based national system to verify citizens’ identities, is set to be launched by the People’s Republic of China in a world-first initiative. Project RealDID, led by the Ministry of Public Security and developed by Blockchain-based Service Network, a company that provides blockchain infrastructure to state clients as well as commercial ones, is a first of its kind.
Where’s the easier part of this?
RealDID allows users to register and log in to websites and apps using decentralized identifiers and private keys, without divulging any personal information. This approach helps to keep personal information and business data separate.
The RealDID state-run system will “secure” the user’s real name. If you want to sign up for a service that you would like to keep a secret, your anonymity is limited.
This announcement comes after a change to regulations that requires top influencers reveal their identity. Since October 2018, the largest Chinese social media sites, such as WeChat and Sina Weibo have required online celebrities with more than 500,000 followers or one million to reveal their identities.
Hong Kong will launch the BSN in 2020. This network is the backbone of large projects, whether state-backed or private. It currently supports DLT infrastructures for more than 1,500 firms, including some foreign companies like Fujifilm. Western firms are also not afraid to leverage China’s Blockchain architecture. HSBC UK, a banking giant in the UK, is evaluating the BSN’s potential for their payments system.
The BSN Spartan Network launched its beta last year. Public permissioned networks support popular blockchains such as Ethereum and Polygon Edge but do not include cryptocurrencies. Large corporations like Emperor Group Lan Kwai Fong Group and HSBC run the validator nodes.
The Plot Thickens in the Crypto Wild West Hold onto your crypto wallets, folks! The wild west of blockchain just got a little wilder. Our friendly neighborhood Binance CEO, Changpeng Zhao (you might know him as “CZ”) plans to hang up his hat and plead guilty to not playing nice with U.S. anti-money-laundering rules. The […] More
The Kylie Jenner NFT Extravaganza Alright, crypto geeks and Simpson fanatics, let’s dive into the deep end of this pool. The “Treehouse of Horror” episode of The Simpsons just took a wild turn into the world of non-fungible tokens (NFTs), with a surprising celebrity guest – the one and only Kylie Jenner! But hold onto […] More
Crypto and Global Terrorism Financing: Squashing Old, Crypto Rumors US Deputy Treasury Secretary’s Remarks In a recent speech, US Deputy Treasury Secretary Wally Adeyemo addressed the controversial topic of cryptocurrency’s role in global terrorist financing. His remarks provided a different perspective from the alarmist comments made by numerous congress members earlier this month. These congresspeople […] More
Event Summary Get ready for a groundbreaking event in cryptocurrency and blockchain technology! The 1000x.GLOBAL Crypto Conference will take place on November 11, 2023, redefining the conference landscape with its unique format as the first-ever 100% online conference dedicated to tokenization, web3, and diverse aspects of the crypto ecosystem. Why Attend the 1000x.GLOBAL Crypto Conference? Unparalleled Accessibility: […] More
Turkish Crypto Founder Sentenced to Absurdly Long Prison Term When “Oops” Turns Into “Oh No!” In a plot twist worthy of a Hollywood blockbuster, Faruk Fatih Ozer, the founder of Thodex, a failed cryptocurrency exchange, has been handed a sentence that would make even the most audacious criminal blush. Brace yourselves, folks, because Ozer has […] More
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