Blockchain & crypto news from India
Two major events this week have set new expectations in the otherwise lacklustre cryptocurrency industry hit hard by scams and hacking. The Ethereum chain had moved earlier to the eco-friendly PoS system for validating transactions, but the validators cold not withdraw their staked Ether. The recent Shanghai upgrade now allows them to do so. In…
Play-to-Earn games attract people who want to make a quick buck, and the distressed Indian public has recently seen rapid bombardment of such online or game apps. Crypto business too is involved in such payout games. The FBI in the US has recently shared a note warning about the risk of theft while falling victim…
The private keys are confidential stings of text to access a cryptocurrency wallet. Until now, losing private keys meant losing access to one’s Ethereum account and its funds. A new tool called “Account Abstraction” has been launched by Ethereum that will allow an owner to recover their ETH in the absence of private keys. Referred…
The blocks on bitcoin blockchain have consistently begun to breach the 3MB size. The first time this occurred was on February 1, 2023. Bitcoin.com reports that history was made this day when the mining pool Luxor became the first to mine block #774,628 with a size of 3.96MB, the largest so far. Bitcoin blocks are…
After a damp affair with its switch to a POS based blockchain, Ethereum’s next big step as far as staking is concerned is the upcoming Shanghai upgrade, expected to happen sometime in March this year. As a preparatory move, the second most important crypto after bitcoin has moved closer to the aim with a shadow…
In a post titled “This is what the future holds for cryptocurrencies”, the World Economic Forum has surveyed the dark past of crypto and indicated the course that can shape its future. The WEF is an international NGO and lobbying organization founded by engineer and economist Klaus Schwab in 1971, and based in Geneva, Switzerland….
Hit hard by the FTX collapse, Solana’s woes continue as two of its top NFT collections have decided to move to rival chains. Solana has been the second choice after the natural Ethereum for NFT projects, but things are taking a turn. DeGods (created by y00ts founder) and Magic Eden will soon bridge their way…
Nobel prize winning economist Paul Krugman recently said to the media that the overhyped blockchain has proven to be “useless”. The shut down of TradeLens is only one of the events he cites to support his anti-crypto views that he has been sharing for a long time. In 2011, he had published an op-ed in…
Supply chain is widely considered a major application area of blockchain technology. The demise of TradeLens, a blockchain supply chain network set up by Maersk and IBM, is therefore a major event that will cause re-thinking and re-evaluation of how to successfully deploy blockchain based services. TradeLens had processed over 35 million documents and served…
Thailand has integrated its national trade blockchain with Japanese blockchain TradeWaltz and Singapore’s Networked Trade Platform (NTP). The pilots for NDTP, created with public-private partnership will begin soon in an effort to minimize paperwork and increase ease of doing business. As a test, two pilot but rea transactions between Thailand and Singapore were made, along…