The function of crypto wallets has changed significantly over the last few years. They initially secured token holdings or served as art galleries with nonfungible tokens (NFTs). Today, they’ve become like bank accounts for many, and soon, they will offer even more functionality by enabling digital curriculum vitae (CVs). In a May 2022 paper, Ethereum co-founder Vitalik Buterin and others introduced the concept of “Soulbound tokens” (SBTs). Buterin and his co-authors argued that credentials on a blockchain offer many advantages to establishing provenance and reputation. Nonfungible tokens will serve as essential building blocks Related: Facebook and Twitter will soon be …

Crypto Twitter was shocked by reports claiming a $1.2 billion metaverse ecosystem like Decentraland has less than 40 daily active users recently. The data, courtesy of decentralized finance (DeFi) analytic firm DappRadar, created quite a buzz among the crypto community, with questions being raised over the future of Web3. Decentraland was quick to refute those metrics and claimed that to get a better insight into the platform’s user activity; one should refer to the dashboard on the website. The metaverse platform noted that it accounted for 1,074 users interacting with smart contracts in September and a total of 56,697 monthly …

BNB Chain, the blockchain of the Binance crypto exchange and Binance Coin (BNB), launched its latest development-focused initiative, which targets European developers to build and scale decentralized applications (DApps) on the network. The three-week virtual “innovation incubator” program focuses on Web3 startups with at least one key member based in the European Union (EU). Those accepted into the program receive mentorship from industry experts and BNB Chain specialists on tokenomics design and Web3 marketing strategies. The incubator will host exclusive meet-ups in cities across the continent, such as Lisbon, Paris, Berlin, Barcelona, Warsaw and London. According to Zoe Wei, the …

A third quarter industry report from DappRadar citing on-chain metrics suggests cryptocurrency markets are showing signs of recovery from ongoing bearing market conditions. A number of factors played their part in a busy third quarter of 2022, with Ethereum’s Merge marking a successful shift to proof-of-stake having a notable influence on layer two activity before the event. The report also highlights a slight recovery in the overall cryptocurrency market capitalization which still sits below the $1 trillion mark. Quarter three data reflected an 8.5% increase in the total crypto market cap from July to the end of September 2022. The …

Despite the innovations brought about by blockchain technology, a blockchain by itself does not automatically come with market data. To fix this, the trading and asset management firm Galaxy Digital has collaborated with the blockchain oracle provider Chainlink. In an announcement sent to Cointelegraph, Galaxy highlighted that the firm will provide its crypto pricing data to blockchains through Chainlink. The firm believes that with this data, smart contract developers will have the ability to build more advanced decentralized applications (DApps). Zane Glauber, the head of strategic opportunities at Galaxy, told Cointelegraph that they believe that the integration will have a …

After an impressive 73% rally between July 13 and Aug. 13, Avalanche (AVAX) has faced a 16% rejection from the $30.30 resistance level. Some analysts will try to pin the correction as a "technical adjustment," but the network’s deposits and decentralized applications reflect worsening conditions. To date, Avalanche remains 83% below its November 2021 all-time high at $148. More data than technical analysis can be analyzed to explain the 16% price drop, so let’s take a look at the network’s use in terms of deposits and users. The decentralized application (DApp) platform is still a top-15 contender with a $7.2 …

The number of decentralized applications (DApps) on Ethereum-scaling-platform Polygon has topped 37,000, marking a 400% increase since the start of 2022. The Polygon team shared the figures via an Aug. 10 blog post, which was sourced from partnered Web3 development platform Alchemy, noting that the figure represents the cumulative number of applications ever launched on both the testnet and mainnet. It also noted that the number of monthly active teams — a measure of developer activity on a blockchain — reached 11,800 at the end of July, up a whopping 47.5% from March. The project team also highlighted a breakdown …

Blockchain games were the subject of the latest DappRadar x BGA Games Report #5, published on Tuesday. The report looked at healthy ecosystems and investments coming into the GameFi and metaverse markets. Several projects were covered in detail in the report, which outlined their continued success and growth. Splinterlands, Illuvium, Galaverse and STEPN have continued to bring new players to their platforms, gain financial interest and expand their businesses. DappRadar claimed that a common theme between many of these popular projects was the underlying utility provided by the gaming aspect, itself. GameFi and Metaverse projects have begun to utilize nonfungible …

With more interest in blockchain development comes more technology platforms to develop on. The industry, which started with only a select handful of relevant blockchains in the 2010s, has grown to include hundreds of chains today. The sheer volume of platforms, although offering different benefits, has also shed light on a few unintended consequences, including assets, applications and users siloed in their native blockchains due to the lack of interoperability between platforms. Not surprisingly, ad-hoc solutions have emerged since the problem is far from new. Among them are bridges. In application, bridges store liquidity between two networks, taking wrapped assets …

A blockchain ecosystem is offering $100,000 in funding to developers with big ideas — incubating early-stage projects that can transform the crypto world in the future. Callisto Network launched the We Fund You program in February 2022, and hand-picked projects also get to benefit from technical support. After receiving countless submissions, four startups were awarded a grant — and now, the EVM-compatible network is championing these up-and-coming projects. One of them is GAT Network, which requested $50,000 in funding as it establishes a next-generation crypto marketplace and NFT toolbox. This team of five developers said they were drawn to Callisto …

Blockchain oracle platform Chainlink has announced the launch of its price feeds on the Solana blockchain. The integration allows decentralized finance (DeFi) developers to use the feeds within their decentralized applications (DApps). In an announcement sent to Cointelegraph, the blockchain oracle platform notes that upon launch, seven price feeds will be available to Solana developers, including BTC/USD, ETH/USD and USDC/USD. At the later stages of the integration, more Chainlink oracle services and price feeds will be made available. Anatoly Yakovenko, co-founder of Solana, believes the Chainlink integration will help developers building DeFi-based DApps on Solana. “Chainlink’s launch on Solana will …

Crypto derivatives trading platform dYdX has officially launched an app via Apple’s iOS store, joining just a select number of fellow decentralized finance (DeFi) protocols that have built apps for smartphone adoption. According to Tuesday’s announcement, dYdX’s app is now ready for use, with the project noting that more than 200,000 people had already signed up for the beta before the full launch. The app offers gas-free deposits and trading and will provide the same functionality as the web version. “The app offers the same functionality and unparalleled product experience that are available on our main exchange website with the …