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Matic’s Looming Mainnet Launch Marks The Convergence of Scaling Projects & DeFi 

Matic Network, a Plasma-based layer two scaling and performance solution for Ethereum, has been making significant strides with its beta mainnet, which officially went live at the end of September. Culminating in a recent post enumerating the staking dynamics of the network, Matic’s anticipated launch will mark a subtle milestone in crypto — the long-awaited fruition of projects that arose out of Ethereum’s scaling woes.  Additionally, Matic will be one of the first live implementations of Plasma, a complex technology web of root chains and side chains that can drastically bolster the performance of decentralized applications (dapps) on Ethereum.  “The β-Mainnet is Matic Network’s sidechain (iteration 2) working on the top of Ethereum Mainnet,” details the Matic official blog post. “The developers can build and test their full end to end applications with this version as well.” At a time when bootstrapped blockchain competitors like Cosmos, Algorand, and Polkadot are seeking to absorb some of Ethereum’s market share, Matic presents an intriguing case study at the convergence of two prominent crypto narratives.  High-Performance Infrastructure for The Next Generation of Finance. Much of the focus in Ethereum circles has shifted to the ballooning DeFi ecosystem and the looming Ethereum 2.0 transition in recent months. However, projects like Matic represent more flexible, bespoke solutions for dapps that require performance on public blockchains — like DeFi.  And many DeFi and prominent Ethereum projects are taking notice. Some of Matic’s official partners include MakerDAO and Decentraland, two ambitious and popular platforms on Ethereum.  In particular, Matic’s blend of Plasma and proof-of-stake (PoS) validation can empower up to 65k transactions per second (TPS) on a single Matic sidechain. For some context, Matic functions as a virtual layer on top of Ethereum’s primary blockchain (i.e., root chain), offloading the execution of smart contract tasks and transactions to sidechains, the “Matic” chains.  Similar to the tendrils of branches stemming from a tree trunk (Ethereum), these sidechains process exceptionally rapid and low-cost transactions using their own PoS consensus, with the actual final settlement tethered Ethereum’s root chain.  Crafting a more scalable layer on top of Ethereum also breeds other specific advantages for dapps that want to build on Matic.  For example, the user interface and UX can be improved by abstracting away the underlying complexity of Ethereum, making dapps more conducive to mainstream user preferences. Similarly, Matic is set to eventually roll out interoperability between other networks, enabling a “plug-and-play” dynamic between assets on the sidechains of different networks.  In the context of DeFi, scalable, high-performance infrastructure is congruent with the long-term vision of building a legitimate alternative to conventional finance. From micro-insurance products to decentralized financial leverage products, DeFi platforms that can support wide-ranging functions with scalable liquidity require a performant foundation.  Many DeFi projects on Ethereum remain localized to small communities of early investors and governance participants, but that will change should arbitrage and market-making strategies help the market mature to a level appealing to financial institutions.  With Matic, DeFi projects that begin to attract vast amounts of liquidity and users will look to flexible, scalable solutions like Matic for a frictionless experience.  Compatibility and Convenience Are King  Open-source projects are exploding in popularity, forging global communities of contributors and supporters. Ethereum is one of those rapidly growing projects, which gives it some powerful network effects in crypto. And many projects building on Ethereum are wont to understand the relationship between users, convenience, and liquidity when it comes to DeFi.  For its part, Matic is catering to Ethereum developers by allowing them quickly port over existing smart contracts to its sidechains — a boon of developer convenience.  “Matic Chains are Ethereum Virtual Machine (EVM) compatible and extremely developer-friendly,” details the Matic Medium post. “Deploying smart-contracts is similar to deploying contracts on Ethereum using tools like Remix, Truffle. Teams developing on Ethereum can immediately port their existing smart contracts and begin testing on Matic sidechains.” Add in Matic’s partnership with MakerDAO, which recently extended to multi-collateral lending (Sai), and new doors open for developers seeking to build commerce applications that leverage the Dai stablecoin.  Complementing platforms like MakerDAO will only serve to attract more developers, and eventually, users to Matic.  In the process, market makers and arbitragers can wield atomic swaps and atomic batched transfers to smooth market inefficiencies ranging from differing interest yields on lending platforms to spreads between DEXs. Markets eventually mature, infrastructure scales to attract more institutional liquidity, and the axiom of “liquidity begets liquidity” materializes.  That eventual fruition of a more mature Ethereum is a vision that many developers and users have anxiously awaited since the ICO mania of late 2017.  Now, that vision looks more like a matter of “when” than “if,” and Matic’s looming mainnet launch is set to mark a pivotal moment in the trajectory of Ethereum — the transition of scaling projects from hype to reality.  The post Matic’s Looming Mainnet Launch Marks The Convergence of Scaling Projects & DeFi  appeared first on TechBullion.
TechBullion

Polkadot vs Ethereum 2.0 – On-chain Governance

On-chain governance has long been a topic of controversy in the blockchain space. Here's how the two major forces - Polkadot and Ethereum - each handle it. The post Polkadot vs Ethereum 2.0 – On-chain Governance appeared first on Bitfalls.
Bitfalls

Polkadot vs Ethereum 2.0 – Shards and Parachains

Ethereum and Polkadot are often seen as competition - but they have more in common than is immediately obvious. Here's how shards differ from parachains! The post Polkadot vs Ethereum 2.0 – Shards and Parachains appeared first on Bitfalls.
Bitfalls

Parity Technologies Hires Zilliqa Co-Founder and CTO Yaoqi Jia as Polkadot's Launch Nears

BERLIN, Nov. 28, 2019 /PRNewswire/ -- Parity Technologies announced today that the co-founder and former Chief Technology Officer (CTO) of Zilliqa protocol has joined the team as Head of Engineering for Asia. Along with his research and development contributions to Polkadot, Yaoqi will be focusing on building the developer ecosystem around Substrate, the highly-advanced blockchain building software development kit (SDK) developed by Parity Technologies. Fredrik Harrysson, Parity's CTO noted that Yaoqi's hire "will bolster our engineering efforts as we eye Polkadot's launch around the new year." He continued, "Yaoqi's experience working in Asia brings an important point of view to our team." When asked his thoughts on joining Parity Technologies, Yaoqi said: "I am looking forward to what the next year and beyond holds. Polkadot represents a huge shift in the status of blockchain technology, to pursue the vision of a decentralized Web, and being able to contribute to a company like Parity is a great opportunity - I am looking forward to the challenge." At Zilliqa, Yaoqi's responsibilities ranged from management of ...Full story available on Benzinga.com
Benzinga

Cross-chain liquidity protocol Laminar receives grant from Web3 Foundation

Laminar, a solution for bridging on-and-off-chain liquidity and crypto-asset trading, announced today it has received a development grant from the Web3 Foundation (W3F). The Web3 Foundation is the primary facilitator of the Polkadot blockchain interoperability project founded by Dr. Gavin Wood. W3F is the primary steward and single treasurer behind the Web3 Tech Stack, an […] CryptoNinjas: Cross-chain liquidity protocol Laminar receives grant from Web3 Foundation
CryptoNinjas

Bison Trails, a Libra Association member, raises $25.5M Series A to expand its blockchain infrastructure offerings

Blockchain infrastructure-as-a-service provider Bison Trails, which is also a member of the Libra Association, has just raised $25.5 million in Series A funding to expand its offerings. The round was led by Blockchain Capital, with participation from Silicon Valley venture firm Kleiner Perkins, Coinbase, Consensys and Galaxy Digital, among several others. Joe Lallouz, CEO of Bison Trails, told The Block that the firm will utilize the fresh capital to expand its offerings as well as to develop a new network roadmap for several projects, including Libra, Telegram, Skale and Polkadot. “As one of 21 founding members of the Libra Association, we’re actively working with founding members to move the technology forward, from testnet to mainnet launch,” Lallouz told The Block. Bison Trails said it will be playing a key role in strengthening the Libra network to support “billions of transactions.” Bison Trails will also bring its platform, out of a limited beta currently, to a wider market in the future; hire more members to its team; build partnerships with leading exchanges and custodians, said Lallouz. Founded in 2018, Bison Trails removes the need for blockchain projects to spend resources on developing in-house security and infrastructure. Currently, over 20 protocol projects rely on Bison Trails’ infrastructure, said the firm. "When we started building Bison Trails, we wanted to bring transparency and ease to entrepreneurs bold enough to build in a decentralized ecosystem,” said Lallouz, adding: “We have become the easiest way to run infrastructure on multiple blockchains.” Monica Desai, an investor at Kleiner Perkins, told The Block: “Bison Trails realized early that node infrastructure would become a bottleneck to blockchain adoption, which is why they created a decentralized, user-friendly solution that developers and customers love. We’re excited to be part of their next chapter.” The Series A round brings the firm’s total funding to date to $31 million, said Lallouz. He declined to comment on Bison Trails’ valuation and revenues.
The Block Crypto
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Price Analysis 09/12: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, XTZ

Price Analysis 09/12: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, XTZ China could start its pilot for the central bank digital currency (CBDC) before the end of this year, according to local news outlet Caijing. The article states that the anticipated pilot project “will go out of the central bank system and enter […] Cet article Price Analysis 09/12: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, XTZ est apparu en premier sur Bitcoin Central.
Bitcoin Central

EOS Price Hit after Getting a C- in Decentralization by Weiss

Blockchain project EOS started this week on a negative note after an independent agency downgraded its rating from B to C-. Weiss Crypto Ratings published a report on December 6 wherein it demoted EOS to lower ranks over its centralization. The agency noted that just 0.01 percent of the EOS token holders control over 68 percent of the voting power on its blockchain. That allows a handful of entities to practice censorship over hundreds of thousands of EOS investors. In comparison, provable decentralized projects like Bitcoin works across 9,300 nodes to confirm and validate transactions atop its blockchain. 1/6 We’ve had great respect for work and thinking that went into the #EOS project. But the Weiss Crypto Ratings model is not based on opinion. It’s driven by data. And that data has now caused a downgrade from B to C-. Here's why (full article to be published soon): — Weiss Crypto Ratings (@WeissCrypto) December 6, 2019 EOS spent a quiet weekend but its value eventually took a toll during the Monday session. The EOS-to-dollar exchange rate was down by $0.083, or 3.02 percent, as of 1658 UTC. Against bitcoin, the cryptocurrency did relatively better, falling about 1.64 percent to trade at 359 sats. The market capitalization likewise took a plunge roughly worth $500 million to settle a low at $2.534 billion. At its December peak, it was $2.613 billion. Ascending Channel The latest move downside brought EOS close to retesting the support of an Ascending Channel. While the lower trendline certainly capped the price from falling further downward, the negative sentiment arising from the Weiss report could weaken it in the near-term. The bearish case prompts EOS to retest to close below the Channel Support and target 304-342 sats area as an accumulation range. In the event of a breakdown, traders could extend their short position towards 284 sats while keeping a stop loss above the level at which they had entered the trade. EOS is trending inside an ascending channel | Source: TradingView.com, Coinbase On the other hand, the price has not failed to reach the upper levels so far. A pullback action from Channel support could push EOS back towards the Channel resistance. Traders with low-risk appetite could use the bounce-back as an opportunity to open a fresh long position 405 sats. Meanwhile, they could minimize risks by maintaining a stop-loss order just below the Channel support. A Consideration From a fundamental point of view, investors who were bullish on EOS might find it hard to digest its centralization issues. The sentiment could prompt some to switch their positions for tokens with more attractive opportunities. Such a scenario could suit the breakdown scenario as discussed above. Meanwhile, traders can look to accumulate EOS ahead of the launch of Voice. EOS creator Block.One on Thursday announced that it would launch the EOS-based social media platform on February 14. While the announcement did not help neutralize trading sentiments immediately, traders can still speculate on the Voice launch to make interim profits. One could watch out for a reversal from Channel resistance – a sign that traders are processing the Voice news – and place his/her upside positions. EOS Price Hit after Getting a C- in Decentralization by Weiss was last modified: December 9th, 2019 by Yashu GolaThe post EOS Price Hit after Getting a C- in Decentralization by Weiss appeared first on NewsBTC.
NewsBTC

EOS Price Hit after Getting a C- in Decentralization by Weiss

Blockchain project EOS started this week on a negative note after an independent agency downgraded its rating from B to C-. Weiss Crypto Ratings published a report on December 6 wherein it demoted EOS to lower ranks over its centralization. The agency noted that just 0.01 percent of the EOS token holders control over 68 percent of the voting power on its blockchain. That allows a handful of entities to practice censorship over hundreds of thousands of EOS investors. In comparison, provable decentralized projects like Bitcoin works across 9,300 nodes to confirm and validate transactions atop its blockchain. 1/6 We’ve had great respect for work and thinking that went into the #EOS project. But the Weiss Crypto Ratings model is not based on opinion. It’s driven by data. And that data has now caused a downgrade from B to C-. Here's why (full article to be published soon): — Weiss Crypto Ratings (@WeissCrypto) December 6, 2019 EOS spent a quiet weekend but its value eventually took a toll during the Monday session. The EOS-to-dollar exchange rate was down by $0.083, or 3.02 percent, as of 1658 UTC. Against bitcoin, the cryptocurrency did relatively better, falling about 1.64 percent to trade at 359 sats. The market capitalization likewise took a plunge roughly worth $500 million to settle a low at $2.534 billion. At its December peak, it was $2.613 billion. Ascending Channel The latest move downside brought EOS close to retesting the support of an Ascending Channel. While the lower trendline certainly capped the price from falling further downward, the negative sentiment arising from the Weiss report could weaken it in the near-term. The bearish case prompts EOS to retest to close below the Channel Support and target 304-342 sats area as an accumulation range. In the event of a breakdown, traders could extend their short position towards 284 sats while keeping a stop loss above the level at which they had entered the trade. EOS is trending inside an ascending channel | Source: TradingView.com, Coinbase On the other hand, the price has not failed to reach the upper levels so far. A pullback action from Channel support could push EOS back towards the Channel resistance. Traders with low-risk appetite could use the bounce-back as an opportunity to open a fresh long position 405 sats. Meanwhile, they could minimize risks by maintaining a stop-loss order just below the Channel support. A Consideration From a fundamental point of view, investors who were bullish on EOS might find it hard to digest its centralization issues. The sentiment could prompt some to switch their positions for tokens with more attractive opportunities. Such a scenario could suit the breakdown scenario as discussed above. Meanwhile, traders can look to accumulate EOS ahead of the launch of Voice. EOS creator Block.One on Thursday announced that it would launch the EOS-based social media platform on February 14. While the announcement did not help neutralize trading sentiments immediately, traders can still speculate on the Voice launch to make interim profits. One could watch out for a reversal from Channel resistance – a sign that traders are processing the Voice news – and place his/her upside positions. EOS Price Hit after Getting a C- in Decentralization by Weiss was last modified: December 9th, 2019 by Yashu GolaThe post EOS Price Hit after Getting a C- in Decentralization by Weiss appeared first on NewsBTC.
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