Shard(SHARD)

A key element of the upgrade is to enable a new place for storing data on the blockchain – referred to as "proto-danksharding," which gives room for a dedicated space that is separate from regular transactions, and at a lower cost.

Cheaper L2 transactions. Data blobs. Proto-Danksharding. Everything you need to know about tomorrow’s changes.

The timing for the long-awaited Dencun upgrade, with its much-touted "proto-danksharding" feature, was announced Thursday on a call with top developers for the Ethereum blockchain.

The test simulated “proto-danksharding,” a technical feature aimed at reducing the cost of transactions for rollups as well as making data availability cheaper.

Dencun's upgrade introduces the proto-danksharding feature, effectively enhancing data availability and reducing fees on Layer 2.

The Ethereum blockchain is on track for a colossal rebranding as the hotly-anticipated Dencun upgrade with proto-danksharding was successfully deployed on the second of three testnets, Sepolia, on Tuesday.

Bitcoin ETFs and the halving are overrated, but protodanksharding is something to look forward to, the bank’s analysts claimed.

The foundation claims that this will be the first ZK rollup that enables sharding, combining two popular scaling technologies.

Cryptocurrency exchange Bitget has released a MPC wallet to improve asset security and user experience.

The company behind PUBG announces a new Web3 platform, monetization in Web3 and more.

The Ethereum Foundation's Dankrad Feist says he thinks a lot of people are stumped by the term "data availability," even as the concept gains momentum in blockchain tech circles.

Consensys zkEVM Linea head Nicolas Liochon says speed and execution will continue to increase as it tweaks its Ethereum layer 2 scaling solution.

Consensys zkEVM Linea head Nicolas Liochon says speed and execution will continue to increase as it tweaks its Ethereum layer 2 scaling solution.

Abu Dhabi, UAE, August 9th, 2023, ChainwireVenom Foundation, a leader in blockchain technology adoption in regulated markets, is thrilled to announce the signing of a momentous Memorandum of Understanding (MOU) with the UAE Government to develop and implement the National Carbon Credit System. This landmark partnership represents a significant step towards leveraging blockchain technology to address environmental challenges and promote sustainability on a national scale.This revolutionary collaboration underscores the UAE's unwavering commitment to bolstering transparency, reliability, and efficiency in carbon emission management, while using the next generation blockchain technology of Venom and in doing so, propelling the nation towards its ambitious climate targets of 40% reduction in carbon emissions by 2030. The Venom blockchain itself is carbon neutral.The Memorandum of Understanding (MoU) signed between the Ministry of Climate Change and Environment (MCCE), the Industrial Innovation Group, and Venom Foundation outlines four strategic objectives: reducing emissions, promoting sustainable agriculture, enhancing environmental health, and conserving biodiversity. As part of this partnership, Venom will be actively participating in realizing a greener future. Taryam Matar Taryam, CEO of Industrial Innovation Group, affirmed their dedication to sustainable development, "For Industrial Innovation Group, it is a great honor to contribute to the creation of the United Arab Emirates' first National Carbon Credit Registry System together with Venom. Industrial Innovation Group steadfastly adheres to sustainable development goals and endeavors to reduce environmental impact, including through decarbonization, as global climate change is closely linked to the increasing concentration of CO2 in the atmosphere. With over 30 years of experience, Industrial Innovation Group has a long history of creating large-scale national registries related to identification processes and excels in developing sustainable pathways for various business sectors, conceptualizing carbon removal initiatives, generating project documentation for different carbon credit registries, and effectively managing, monitoring, and reporting on carbon utilization projects."Peter Knez, Chair of the Foundation Council at Venom Foundation, commented, "We are honored and excited to join hands with the UAE Government to build the National Carbon Credit System. At Venom, we believe that blockchain technology has the potential to drive real-world impact, and this initiative perfectly embodies that vision. Together, we are committed to creating a sustainable future and pioneering solutions that positively influence the global climate."Venom’s success is driven by its groundbreaking technology, strict regulatory compliance, and a scalable and secure platform that serves a wide range of use cases.As the MOU between Venom and the UAE Government comes into effect, both entities eagerly anticipate the successful launch and implementation of the National Carbon Credit System. This historic partnership exemplifies the potential of blockchain technology in advancing environmental initiatives and reinforces the commitment to building a more sustainable and eco-friendly future.About Venom Foundation:Venom Foundation, operating as a decentralized network licensed by the Abu Dhabi Global Market (ADGM), is at the forefront of driving the advancement of global Web3 projects. As the world's first compliant blockchain, Venom provides a secure environment for investors and financial services firms, offering the freedom to build, innovate, and expand. Under the jurisdiction of the ADGM, Venom serves as a trusted platform for authorities and enterprises, ensuring compliance with regulatory requirements.To enhance its capabilities, Venom has developed a range of in-house decentralized applications (dApps) and protocols on its blockchain. With features such as dynamic sharding, low fees, high-speed transactions, and scalability, Venom has the potential to serve as the foundational infrastructure for a thriving global ecosystem of Web3 applications. Its exceptional transaction speeds and limitless scalability enable it to meet the evolving needs of a rapidly growing user base.Disclaimer: This is not a financial [email protected]

Separate “data availability” layers could reduce congestion on the Ethereum network by making it easier for ancillary “rollup” networks to verify that transactional details exist and are available to download if needed — without actually downloading them. The concept might offer an alternative to Ethereum’s own proposed "danksharding" solution, seen as years away.

In this article, we’ll be highlighting three remarkable crypto projects that are expected to make waves in the upcoming bull run - according to crypto analysts. Delve into the world of futuristic investments with InQubeta, the crypto crowdfunding platform transforming AI startup investments. Additionally, explore the dynamic potential of Ethereum, the pioneering smart contract platform, and Polkadot, the creative multi-chain ecosystem, as they emerge as the top contenders in the competitive realm of blockchain technology. InQubeta: Taking AI Startup Investment To The Next Level A lot of investors are tired of the same opportunities and want to add some excitement to their portfolio, now, they need to look no further than InQubeta. InQubeta is not an average crypto crowdfunding platform - it’s here to shake the space up. This project proves that traditional investment methods can be a thing of the past, as the world's first crypto crowdfunding platform that enables fractional investment in AI startups using $QUBE tokens is introduced. With InQubeta, individuals can dive into the world of AI startups and invest in a manner that suits their budget. The NFT marketplace of InQubeta is buzzing with opportunities where AI startups raise funds and offer reward and equity-based NFTs. The intriguing aspect is that each investment opportunity is minted into an NFT and fractionalized, allowing individuals to participate without incurring significant costs. InQubeta has even taken things a step further with their deflationary ERC20 token, $QUBE. This is not just an ordinary token; it is a deflationary currency that becomes even more valuable over time. A 2% tax on all buy and sell transactions is directed to a burn wallet, resulting in the token becoming scarcer. Additionally, a 5% sell tax is allocated to a dedicated reward pool, providing an opportunity for individuals to earn rewards by staking their tokens. InQubeta offers a project that holds great potential, and AI fans should definitely take note. Ethereum: Unleashing the Power of Smart Contracts and Decentralized Applications When it comes to blockchain platforms, Ethereum stands tall as the original pioneer and a force to be reckoned with. Born in 2015, Ethereum introduced the concept of smart contracts, which transformed the way transactions are executed on the blockchain. This decentralized platform allows developers to build and deploy their own applications without relying on intermediaries, offering a level of transparency and security that traditional systems can only dream of. One of Ethereum's major strengths lies in its vast network and active community. Developers from all corners of the world have flocked to Ethereum, creating a vibrant ecosystem of decentralized finance (DeFi) projects, non-fungible tokens (NFTs), and inventive dApps that cover a wide range of industries. This rich ecosystem has solidified Ethereum's position as the go-to platform for creating and launching new tokens, conducting initial coin offerings (ICOs), and experimenting with novel financial instruments. Scalability has been a challenge for Ethereum, as increased usage has resulted in network congestion and high fees. However, Ethereum is addressing these issues through the implementation of Ethereum 2.0, a major upgrade that introduces a new consensus mechanism called Proof of Stake (PoS) and shard chains. This upgrade aims to significantly enhance scalability, security, and energy efficiency, making Ethereum even more robust and attractive to developers and users alike. Polkadot: Unlocking a New Era of Blockchain Interoperability and Scalability Polkadot emerges as a remarkable project that seeks to bridge the gap between different blockchains. Founded by one of Ethereum's co-founders, Polkadot introduces a multi-chain framework that enables interoperability, allowing various blockchains to perfectly communicate and share information with each other. Polkadot's architecture revolves around a relay chain that serves as the heart of the network, coordinating communication and consensus between connected blockchains, known as parachains. These parachains operate independently, each with its own unique features, governance models, and specialized functionalities. This modular approach provides flexibility and scalability, as new parachains can be added without disrupting the entire network. By facilitating interoperability, Polkadot opens up a world of possibilities for cross-chain applications and collaborations. Developers can create decentralized applications that can interact with multiple blockchains, harnessing the strengths and features of each chain to enhance functionality and efficiency. This interoperability also paves the way for secure asset transfer between different chains, enabling new use cases and driving invention in areas such as decentralized finance, supply chain management, and gaming. Polkadot's governance model, based on on-chain voting and a nominated proof-of-stake consensus mechanism, ensures that decisions regarding network upgrades and the addition of new parachains are made in a transparent and decentralized manner. This community-driven approach fosters inclusivity and empowers stakeholders to actively participate in shaping the future of the Polkadot ecosystem. Conclusion Respected crypto analysts recognize the immense potential of these projects and believe they are well-positioned to thrive in the evolving crypto landscape. As the market gears up for the next bull run, investors should pay close attention to InQubeta, Ethereum, and Polkadot, as they represent exciting opportunities for growth and creativity in the crypto space. Visit InQubeta Presale Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

The Multichain MPC bridge platform has seen abnormally large outflows, fueling concerns that the platform could be a target for a multi-million dollar exploit. According to the available information, over $130 million worth of crypto has been moved out from the bridge platform. Huge Outflows From Multichain The outflows first came to light on the 6th of July, when observers noticed that $102 million worth of crypto was withdrawn from the Multichain Fantom bridge on the Ethereum side. Additionally, $666,000 worth of Dogecoin and $5 million from Moonriver were also withdrawn. Additionally, 7214 Wrapped Ether (WETH) tokens worth $13.6 million, 1024 Wrapped Bitcoin (WBTC) worth $31 million, and $58 million worth of the USDC stablecoin were withdrawn from the Fantom bridge’s Ethereum smart contract. The total value of the cryptocurrency removed by the end of the day stood at over $100 million. Additionally, the Dogecoin bridge’s Ethereum contract saw a withdrawal of around $666,000, which accounts for over 86% of its total deposits. As a result, the bridge currently has only around $100,000 worth of assets remaining. Over $5.8 million worth of USDT and USDC were also withdrawn from the Multichain Moonriver contracts on Ethereum, with the Moonriver bridge contracts now having only around $700,000 remaining on them. Possible Exploit? Several on-chain investigators took to Twitter to warn the community that the event could be a possible exploit. Curve Finance was among the first to warn users that Multichain was, in all probability, hacked and that they should revoke all approvals. “Multichain likely hacked. Exit all multichain assets. Good idea to revoke approvals to multichain bridge if you had any.” Blockchain security firm PeckShield tagged Multichain in a Twitter post, highlighting the Phantom chain transactions and urging the team to take a closer look. Another commentator remarked that the entire fiasco looked like another massive hack, while On-chain investigator Spreek posted the Dogecoin transactions, urging the team to look at the transactions. However, Multichain did not respond to the tweets in question. Meanwhile, Fantom Foundation CEO Michael Kong stated that the Fantom team was looking into the issue. Multichain Finally Responds Multichain finally responded to users in a later tweet, stating that the movement of funds was indeed abnormal, and the team was “unsure of what was happening and is currently investigating the issue.” Multichain stated on Twitter, “The lockup assets on the Multichain MPC address have been moved to an unknown address abnormally. The team is not sure what happened and is currently investigating. It is recommended that all users suspend the use of Multichain services and revoke all contract approvals related to Multichain.” Multichain’s Growing Issues Multichain is a multi-party computation (MPC) bridging network, enabling users to bridge assets between chains. When a user wishes to bridge an asset, Multichain first confirms if the assets have been locked on the first chain. Once confirmed, the network mints the derivative assets on the second chain. When a user wishes to make a withdrawal, the process repeats itself, but in reverse. It will first confirm if the derivative assets have been destroyed on the second chain before releasing the locked assets back on the first chain. Multichain’s team claims that the cryptographic keys controlling the entire process are split into shards and then distributed throughout the network. This should, theoretically, prevent any entity from making unauthorized withdrawals. However, Multichain has been in the news for all the wrong reasons after suffering unspecified technical problems over the past few weeks. The team announced on the 31st of May that the CEO had gone missing, with the network suffering a multitude of problems due to unforeseeable circumstances, leading to significant transaction delays. Binance also announced that it was halting the withdrawal of some Multichain derivative tokens due to network issues on Multichain. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

[PRESS RELEASE – Please Read Disclaimer] Paris gathers Ethereum’s thought leaders following the recent successful execution of the Shanghai Upgrade and the upcoming danksharding upgrade in the fall that will boost Ethereum’s scalability. PARIS, France – July 2023 – EthCC (Ethereum Community Conference), the largest annual European Ethereum conference created for the community, by the […]

Proto-danksharding is at the heart of the package, with other improvements for storage on-chain, as well as minor code changes related to the Ethereum Virtual Machine.

Singapore, Singapore, June 2nd, 2023, ChainwirePink Moon Studios, a leading innovator in the Web3 gaming industry, is thrilled to announce the launch of their latest sensation, "KMON: World of Kogaea." This immersive 3D open-world game, available initially to Kryptomon NFT holders, underscores Pink Moon Studios' expertise in crafting groundbreaking NFT metaverse games, harnessing the power of state-of-the-art Web3 gaming technologies.Unveiling Pink Moon Shards: Ultra-Exclusive NFT Rewards for "KMON: World of Kogaea" PlayersPink Moon Studios has orchestrated a series of immersive campaign activities to celebrate the game's launch. Foremost among these is the introduction of the "Pink Moon Shards," unique tokens crafted using ERC-1125 blockchain technology that will be only available by completing the quests players will be given in World of Kogaea during the Early-Community Preview events. Exclusive to the game's Early-Community Preview launch events, these shards will serve as tradable NFTs, bringing unprecedented rewards to the players.The Pink Moon Shards present a unique opportunity for players to later interact during the game’s official release with the “KMON Forge,” Pink Moon's pioneering on-chain crafting system. This system allows players to craft limited-edition NFTs that can't be found elsewhere in the game, offering holding players significant advantages throughout the KMON Game Saga. Following the game's official release, the shards will be airdropped into the players’ wallets based on their performance and event participation.Brian Bento, the Chief Product Officer at Pink Moon Studios, shares his enthusiasm: "The launch of our initial community tech preview for 'KMON: World of Kogaea' is a monumental event we've eagerly awaited. It’s an invitation to our players to be the first to experience this new massive world we've brought to life. The unveiling of the exclusive Pink Moon Shards is equally exciting. These unique tokens represent a pioneering approach to in-game rewards, enhancing our players' experience while enriching our gaming ecosystem. I'm ecstatic about what we're bringing to the world of Web3 gaming, and I can't wait to see our players dive into the captivating world of Kogaea to see what we have in store for them in the future.”In addition to the exclusive shards, Pink Moon Studios will launch a vibrant community campaign spanning various social media platforms, in which participants will get an opportunity to win free Kryptomon NFTs for completing a few simple steps, providing a compelling incentive for players to engage in the celebration of the game's official release. More information about the campaign can be found on the official website of KMON World of Kogaea.Meet the Creators: Exclusive Live Streaming EventTo commemorate this exciting release, Pink Moon Studios will host an exclusive live-streaming event where the community can meet the team behind "KMON: World of Kogaea". The creators will step into the world they've designed, exploring and experiencing it alongside community members while providing insights about the game's creation and its unique Web3 gaming mechanics. This exclusive streaming event, which will feature Pink Moon Studios' CEO Umberto Canessa Cerchi and other leadership members, will take place during the launch week. The exact date and time of the event will be announced in the next few days on the company's official Facebook, Discord, and Telegram channels.Revolutionizing the Gaming Industry with KMON GamesSince its inception, Pink Moon Studios has been at the forefront of innovation in the gaming landscape with its KMON Game Saga, all powered by the transformative potential of blockchain technology. This dynamic gaming universe allows players to breed, train, and battle with their NFT Kryptomon, forging unique digital companions.The long-awaited "KMON: World of Kogaea" is a ground-breaking Web3 blockchain-enabled game that plunges players into an extraordinary 3D open-world metaverse experience, seamlessly integrating with the other two KMON games “Genesis”, its 2D casual training and battling game, and “Pink Moon”, the company’s AR treasure-hunt game. "World of Kogaea" offers players a multifaceted interaction with their Kryptomon NFTs across multiple platforms, propelling the gaming experience to unprecedented levels.The "KMON: World of Kogaea" launch is a testament to Pink Moon Studios' robust capabilities and achievements in the Web3 gaming industry. As the world of blockchain technology continues to evolve, the gaming experiences offered by innovators like Pink Moon Studios promise to ascend to even more impressive heights. Umberto Canessa Cerchi, the CEO of Pink Moon Studios, expressed his excitement about the launch: "The unveiling of "KMON: World of Kogaea" marks a significant milestone for Pink Moon Studios and the Web3 gaming industry. This revolutionary game underscores our commitment to leveraging the power of blockchain technology and our groundbreaking Web3 gaming technologies to redefine the gaming landscape."Riding the Wave of Remarkable SuccessPink Moon Studios has already demonstrated significant success, amassing a noteworthy $11.4 million in two funding rounds and fostering a dedicated community of almost 450,000 members across various social platforms. This achievement reflects the company's commitment to creating immersive gaming experiences and has drawn the attention of industry-leading partners, including Binance NFT, Crypto.com NFT, and others. Already during its first seven months of existence, Pink Moon Studios has generated over $18M in Kryptomon NFT transaction volumes alone, demonstrating its ability to fascinate the gaming community.Beyond funding and partnerships, Pink Moon Studios' relentless pursuit of innovation has led to the development of path-breaking technologies. These include the unique "Diamond Contract" and the on-chain "NFT Forging System," allowing players to engage with their Kryptomon innovatively, fostering a unique digital bond.Additionally, introducing its crypto and non-crypto user-friendly “Trainer Hub” and "KMarket" NFT marketplace has revolutionized how players buy and sell blockchain-based assets, providing seamless transactions without prior crypto knowledge or a crypto wallet.The Dawn of a New Era in GamingThe debut of "KMON: World of Kogaea" marks the beginning of an exciting new chapter in gaming, promising even more thrilling, immersive, and engaging experiences. As Pink Moon Studios continues to redefine the gaming industry with its unique blend of cutting-edge technology and inventive gameplay, it's well-positioned to become a trendsetter in the rapidly evolving world of digital entertainment."KMON: World of Kogaea" is just the beginning, and the gaming community eagerly awaits the new waves of innovation that Pink Moon Studios is set to bring in the years to come. The future is certainly promising for Pink Moon Studios as they continue their journey, redefining the gaming landscape and delivering unparalleled experiences to players around the globe.About Pink Moon StudiosPink Moon Studios, initially known as Kryptomon, is a cutting-edge technology company established in 2021, specializing in pioneering Web3 gaming solutions. Composed of a vibrant team of experienced developers and entrepreneurs, they harness the power of blockchain technology, non-fungible tokens (NFTs), and augmented reality (AR) to reshape the gaming industry. Offering a suite of innovative services including the Diamond Contract, NFT Forging, Phygital NFTs, and the AR NFT Hunt, Pink Moon Studio aims to create immersive, engaging, and innovative gaming experiences that transcend traditional gaming boundaries. In addition to gaming innovation, Pink Moon Studio is deeply committed to social responsibility and environmental sustainability, indicating their dedication to driving positive change in the world. Their vision is not only to revolutionize gaming but also to foster a more responsible and sustainable future for the industry.ContactChief Business Development OfficerTomer Warschauer NuniPink Moon [email protected]‭+1 (347) 527-9811‬

It’s evident that the current dip the crypto ecosystem is going through is one of the worst ever, second only to the crash that happened a few years ago. Tokens like Polkadot (DOT) and Litecoin (LTC) that showed promise just a few months ago have all but fallen to their all-time lows. Due to this, investors have set their sights on the young upstart, Degrain (DGRN). This article examines why so many are bullish on the new token, even at the expense of OG coins like Polkadot (DOT) and Litecoin (LTC). Polkadot (DOT) may not get to $100 until 2028 Polkadot (DOT) defines itself as an open-source sharded multichain protocol that connects and secures a network of specialized blockchains, facilitating the cross-chain transfer of tokens and other assets. In this way, Polkadot (DOT) enables different blockchains to be interoperable with each other, which is why it is called the internet of blockchains, i.e, Web3. Polkadot (DOT) has fallen more than 82% lower than its all-time high, but analysts have said that it may rally to $20 and above later this year. Compared to the Polkadot (DOT) token’s all-time high of $55, $20 seems barely enough. That price will reportedly go to $100 in a couple of years, but investors may not be willing to wait that long. Litecoin (LTC) investors may be diverting liquidity to Uwerx (WERX) presale Litecoin (LTC) has been active in the ecosystem for nine years and has remained relevant. Litecoin (LTC ) is the native token of the blockchain, and at the moment, it is ranked among the top tokens as far as the market cap is concerned. Recently, there have been complaints that Litecoin (LTC) is losing its grip because it lacks many of what new projects have - a strong brand, influential connection, or quirkiness. Litecoin (LTC) can only boast about its strong technical foundation, but analysts think the token value and market cap will rise in the future. Unfortunately, not all investors can afford to tie up liquidity when there’s a potential better play out there. Right now, there’s a buzz about a new token named Degrain (DGRN), and Litecoin (LTC) investors are jumping ship. Uwerx (WERX) A Star Contender for Blue-Chip Crypto Status Uwerx aims to launch the first decentralized freelance marketplace - the project’s goal is to connect employers and freelancers without the high fees charged by industry leaders such as Upwork and Fiverr. Uwerx is expected to attract millions of workers - industry experts predict that Uwerx could become a cornerstone of the freelance in 2024. In addition to the lower fees that blockchain brings about, Uwerx will play host to numerous other features such as a incentive-based rewards system, a premium feature system where tokens can be used to unlock premium features and the opportunity for users to earn tokens by staking their existing tokens on the platform. The WERX token will also act as the medium by which goods and services are exchanged which will foster active participation on the platform. Uwerx is poised to take a large bite out of an industry that is predicted to be worth close to $500 billion. Investors have shown great interest and confidence in the project and the presale is running strong. With liquidity locked in for 25 years after and audit approval already being granted, Uwerx is most likely to be the hottest contender for a cryptocurrency that will see the most growth within the next year. Get in now at $0.0315 as Uwerx is on it’s final stage; most likely at this point, the purchase bonus of 20% will also see a decrease. Presale: invest.uwerx.network Telegram: https://t.me/uwerx_network Twitter: https://twitter.com/uwerx_network Website: https://www.uwerx.network Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

Singapore, Singapore, May 25th, 2023, ChainwireThe Open Network(TON), a revolutionary technology to unite all blockchains and Web2 internet into one open network, in collaboration with DWF Labs and Amazon Web Services (AWS), is hosting a decentralized finance (DeFi) and Data Analytics Hackathon, Hack-a-TON x DWF Labs x AWS.The hackathon provides developers interested in DeFi and data analytics with the opportunity to design, code, learn and network as they bring their ideas to life. Participants will be able to engage with a vibrant community of Web3 builders, obtain access to virtual workshops led by experienced mentors and specialists, and showcase their ideas at the event finale. The winning project will receive investment from DWF Labs to transform their idea into reality. In addition, there’s a total prize pool that includes prize money of 150,000 USD worth of Toncoin (TON), the native cryptocurrency of TON, and an additional 150,000 USD worth of TON in grants and AWS Credits worth USD 115,000. TON is used for transaction fees, securing the TON blockchain through staking, deciding how the network develops and settling payments..Throughout the duration of the hackathon, there will be regular virtual workshops for all participants and online assistance from AWS, DWF Labs and TON mentors who will be ready to answer questions from teams in the hackathon chat while the building phase runs from May 27 until July 27. The sessions are designed to aid builders and provide them with the skills, knowledge, and time they need to build on their ideas, bring their projects to life, and network with other participants. Participants who successfully complete the hackathon will receive exclusive NFTs; and teams who make it to the final round will be entitled to exclusive merchandise and stand to win from the prize pool.“This event is a remarkable opportunity for developers passionate about DeFi and data analytics to unleash their creativity, learn, and network with like-minded individuals.” said Andrei Grachev, the Managing Partner at DWF Labs. “We believe in the power of innovation and want to inspire builders to create exceptional applications on the TON platform. In addition to the substantial monetary prizes, our aim is to encourage participants to contribute to the growth of the TON ecosystem by building transformative projects. We eagerly await the groundbreaking ideas and solutions that will emerge from this hackathon, and we're excited to support the winners in bringing their visions to life."“We’re delighted to work in collaboration with DWF Labs and AWS, the world’s most comprehensive and broadly adopted cloud on a hackathon, that will showcase the very best of TON talent in the emerging fields of DeFi and data analytics,” said Justin Hyun, Head of Incubation at TON Foundation. “This event represents a great opportunity to learn and build as projects in our ecosystem continue to grow and flourish.”Registration for Hack-a-TON DWF Labs x AWS kicks off on May 27, 2023 at 12:00 (UTC+4), together with the build phase. Registration will close on June 27, 2023, at 12:00 (UTC+4), with the build phase continuing until July 27, 2023, at 23:00 (UTC+4), when all applications must be submitted.Participants are encouraged to apply as early as possible in order to have more time to build their projects. Each team is required to go through the registration process and receive approval prior to participation. Teams can consist of between three and five people, and are required to use open-source code and make this accessible after the build phase concludes.Once the build phase is complete, Hack-a-TON x DWF Labs x AWS judges will evaluate each project from July 27 until August 10, 2023, with the list of 20 finalists to be announced on Friday, August 11, 2023. Each project will be rated for its potential to achieve growth in the TON ecosystem, technical accomplishment, ‘Wow’ factor and business merit. Finalists will then have one month to prepare for their project showcase, from August 11 to September 10, 2023.Hack-a-TON x DWF Labs x AWS will conclude with an offline showcase on September 11-12, 2023 at the AWS Headquarters in Singapore. For the final round, the judging criteria will be slightly different, with each project rated based on its pitch, quality of idea, ‘wow’ factor, problem solving and business merit. The offline showcase will take place as a precursor to TOKEN2049, Singapore's premier annual crypto event that brings together founders and executives of the world's top Web3 projects.Finalists will compete for a bevy of exciting prizes;1st Prize:70,000 USD worth of TON sponsored by DWF Labs70,000 USD in TON grants10,000 USD worth of AWS Credits2nd Prize:50,000 USD worth of TON sponsored by DWF Labs50,000 USD in TON grants10,000 USD worth of AWS Credits3rd Prize:30,000 USD worth of TON sponsored by DWF Labs30,000 USD in TON grants10,000 USD worth of AWS Credits17 finalists will each receive 5,000 USD worth of AWS Credits.All participants will receive exclusive NFTs and the finalists who attend our showcase will get a cool merch pack. Winners will receive DWF Lab’s prizes once the hackathon is over and TON Grants will be paid upon each milestone completion.*TON price used will be the average over the 2-months spanning the hackathon.All participants at the offline showcase will receive exclusive NFTs and cool merchandise packs. To register for the event, click here to complete the process.About The Open NetworkThe Open Network (TON) is a revolutionary technology to unite all blockchains and Web2 internet into one open network. It was born to empower billions of Telegram users with genuine Web3. Originally introduced by the Telegram team inheriting its freedom and openness ethos, it has been run as an open-source community project since 2020. TON’s layer-1 architecture is designed to scale up to 2 to the power of 32 workchains, each of which can be subdivided into up to 2 to the power of 60 shardchains. It can support millions of transactions per second near-instantly.Telegram has helped people stay connected. TON will transform the communities into economies. Learn more: https://www.ton.orgAbout DWF LabsDWF Labs is the global digital asset market maker and multi-stage Web3 investment firm, supporting portfolio companies from token listing to market making to OTC trading solutions.With offices in Singapore, Switzerland, the UAE, Hong Kong, South Korea and BVI, the investment company DWF Labs is an affiliate of Digital Wave Finance (DWF), which consistently ranks among the top 5 trading entities by volume in the cryptocurrency world through its proprietary technology for high frequency trading.—For more information visit www.dwf-labs.comContactPortfolio ManagerLydia [email protected]

Hardware wallet provider Ledger has announced that it is pushing back the launch of its key-recovery feature after mounting criticism from the larger crypto community. The hardware wallet provider also stated that it would open the source code before it releases the update. Key-Recovery Service Delayed The decision was conveyed to wallet users in a letter by Ledger CEO Pascal Gauthier. In the letter, Gauthier stated that the company would only launch the new feature after releasing its code to the community. Furthermore, Ledger also scheduled a Twitter Spaces session to discuss the issue with the community and reach a consensus on the way forward. The Twitter Spaces session was joined by over 13,000 users, with the CEO calling it a humbling experience and a lesson in communication. Gauthier stated, “This experience has been very humbling. We miscommunicated on the launch of this product; it was not our intention to take people by surprise. So because of that, we understand the community’s direction and apologize for the miscommunication.” Codebase To Be Open-Source Gauthier also stated that as a response to concerns raised by the community, Ledger would be accelerating plans to open-source its codebase, starting with the core components of its operating system and Ledger Recover. Additionally, Ledger Recover will not be released until this is completed. “We have made the decision to accelerate the open-sourcing roadmap! We will include as much of the Ledger operating system as possible, starting with core components of the OS, and Ledger Recover, which won’t be released until this work is complete. Furthermore, we will open-source the Ledger Recover protocol, enabling the community to have as much choice as possible over your self-custody, in addition to the service being fully optional. This roadmap will be shared and updated by our CTO and engineering team.” The Chief Technology Officer at Ledger, Charles Guillemet, revealed that over the next few days, the company would make a white paper on the Recover Protocol public, along with technical blog posts. These would explain the principles governing Recover and give a detailed explanation of how the process works. Guillemet stated, “It’s going to be very easy and clear for every single cryptography and security expert to have a look at the protocol to get more guarantees and understand how it works.” He also added that developers could build their own backup provider for the seed phrase shards rather than using the ones provided by Ledger. “This has always been something important for Ledger, but this recent event showed how important it is for the community, and this is why we decided to prioritize this open-sourcing process.” Gauthier also stressed that offering key recovery services is critical to onboarding new users for whom self-custody may be difficult. “The majority of users in crypto today either don’t own their private keys and/or are putting their private keys at risk using less secure forms of self-custody and hard-to-use forms of storing and securing their seed phrase.” Ledger’s PR Nightmare Ledger announced its Ledger Recover service last week, allowing users to store encrypted backups of their seed phrases with third-party custodians. This would enable Ledger users to restore their private keys even if they lost their seed phrases. The feature was announced as an opt-in feature and would require a KYC (Know Your Customer) verification. However, if Ledger was expecting a supportive reaction, it got quite the opposite. Almost immediately after the announcement, Ledger came under heavy criticism from the crypto community. The main point of criticism was sharing seed phrases with third parties. Multiple users posted angry reactions on social media, stating that they felt betrayed by Ledger. Ledger had previously stated that the wallet’s private keys would never leave the device. Critics also pointed out the potential threats that could arise from such an arrangement, such as the hack of custodians entrusted with the private keys, data leaks from KYC service providers, and user data being compromised. Other community members also pointed out that the code for Ledger’s Recover feature is not open-source, meaning there is no way to audit and test the feature’s safety. Unlike its competitors, Ledger does not publish all its code. Instead, its products are tested by a team of select security researchers. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The private seed phrases of Ledger users could be shared with governments if they are ordered to, but this is “not a real concern,” says CEO Paul Gauthier.