The non-profit arm of decentralized exchange aggregator 1inch plans to give away more than $23 million to users starting September 1. In an announcement on Tuesday, the 1inch Foundation said it would begin distributing 10 million of its native 1INCH in an effort to refund gas costs for users who stake the tokens. The foundation intends to issue monthly refunds for those who stake the token anytime between the first swap in a given month and the day it distributes 1INCH. At the time of publication, the price of 1INCH has risen more than 15% in the last 24 hours …

Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization, will be one of the key trends for the future of Twitter, CEO Jack Dorsey declared. The Twitter CEO said that Bitcoin would be a “big part” of the company’s future at the second-quarter earnings call, outlining the digital currency’s potential to further transform Twitter products and services. Referring to Bitcoin as a native currency of the internet, Dorsey described opportunities to integrate BTC into existing Twitter services including commerce, subscriptions and new features such as Twitter Tip Jar and Super Follows. The CEO explained to investors that a lot of …

The state of Alabama has become the second state in the United States to raise concerns over BlockFi, a major cryptocurrency lending platform. The Alabama Securities Commission (ASC) has issued a show-cause order to New Jersey-based company BlockFi, ASC director Joseph Borg officially announced on Wednesday. Already facing a cease and desist order from the New Jersey Bureau of Securities, BlockFi now has 28 days to provide cause why the platform should not be forced to cease and desist from selling “unregistered securities” in Alabama, the regulator said. According to the ASC, BlockFi’s interest-earning cryptocurrency BlockFi Interest Accounts constitute securities. …

Ethereum (ETH) infrastructure developer Polygon has spun off a new subsidiary to advance its work in blockchain gaming and nonfungible tokens, or NFTs, offering further insight into the company’s long-term growth strategy. The newly formed Polygon Studios has three core objectives: establish Polygon’s position as the leader in decentralized gaming; create a brand that attracts developers and investors to its NFT ecosystem; and position Polygon as the best venue for transitioning to Web 3.0. Through an initiative called Polygon Gaming Studio, the company aims to help developers create and market decentralized games. A separate initiative, Polygon NFT Studio, aims to …

The cryptocurrency community is highly anticipating the release of a new documentary about the Ethereum blockchain, with the film’s funding campaign exceeding expectations. A crowdfunding round for the Ethereum-themed documentary, dubbed Ethereum: The Infinite Garden, has surpassed its goal of 750 Ether (ETH), raising a total of 1,035.96 ETH worth $1.9 million as of Friday, the creators announced. And that’s a wrap. 984.16 ETH raised for the film. 31.08 ETH to @gitcoin grants. 20.72 ETH to @Carbonfundorg. THANK YOU to everyone who supported, and congratulations to our new producers. Now let’s go make a movie! See the complete set of …

The estimated windfall Apple got from its App Store in 2020 is $67 billion. That’s up from $50 billion in 2019, a 28% increase. Even as the company has lowered its commissions for smaller developers, the App Store remains a major component of Apple’s bottom-line profits. And it’s not just Apple taking a cut of developer revenue: On Android, the world’s most popular mobile operating system, the Google Play Store netted $38.6 billion in 2020. That’s over $105 billion in revenue from the top two app stores combined. It’s no wonder that regulators in many countries are closely considering whether …

This summer is going to be DeFi’s biggest and best, according to one project. KardiaChain says it has launched a brand-new destination for crypto enthusiasts — delivering access to the hottest farms. The team are hoping to build on the success of summer 2020, which was instrumental in helping decentralized finance become an established sector within the crypto community. Innovative concepts such as automated market makers came to fruition, the total value locked in protocols surged, and we began to see how financial power truly belongs to the people. This year, KardiaChain is hoping to ensure that history repeats itself …

The number of reachable Bitcoin network nodes has crossed the 13,000 mark for the first time. As previously reported by Cointelegraph, the previous all-time high was 11,613 achieved back in January. According to data from Bitcoin network statistics dashboard Bitnodes.io, this milestone was reached back on July 5 when the number of reachable nodes clocked in at 13,374. At the time of writing, Bitnodes’ data puts the current network node count at about 12,835, Coin.Dance, another tracking website, also has Bitcoin’s node count at a new all-time high of 12,825. Nodes running the Bitcoin Core software make up 98.77% of …

A decentralized exchange says its unique dual mining mechanism delivers transaction fees that are “close to zero” — including for major cryptocurrencies such as Bitcoin. MDEX says a blend of liquidity mining and transaction mining results in a deeper liquidity pool and lower slippage, as well as a more user-friendly experience. Data from CoinMarketCap shows that transaction volumes across the blockchains it uses have surpassed big names such as PancakeSwap, Sushiswap and 1inch. MDEX has come a long way since the project launched on Jan. 6. Within a month, the project claims single-day transaction volumes exceeded $1 billion — a …

Band Protocol, the cross-chain data oracle provider, announced Tuesday that its BandChain oracle blockchain is in the process of upgrading to Phase Two. According to a press release provided to Cointelegraph, the upgrade — which was first proposed back in June 2021 — will be the first data oracle network to allow providers to supply data to the decentralized economy in this manner. The project hopes to allow access to more data sources and richer data types for traditional enterprises by simplifying access to decentralized apps, or DApps. The upgrade also seeks to allow institutional data providers partnered with Band …

An up-and-coming decentralized exchange has gone cross chain as it “plants new seeds to grow the jungle.” ApeSwap’s plans to expand to Polygon were driven by an awareness of the multi-chain trend that has emerged in the blockchain sector — and a desire to remain at the cutting edge when it comes to DeFi. The project’s team has also recruited 10 of its close partners on Binance Smart Chain to join them, helping to create an entire DeFi ecosystem on Polygon overnight. The launch has been executed with the full support of the Polygon team through co-marketing and MATIC liquidity …

Bitcoin (BTC) and other cryptocurrencies, such as Ether (ETH), all share a common goal: to decentralize the way people bank and to open up the under-financed and under-banked world to their own financial independence. Decentralization and accessibility are some of the key motivators in the crypto sphere. Crypto and blockchain were not made for a specific group of people, but for an inclusive group of people. Owning crypto is simply a caveat, an advantage of moving away from the centralized world, but it is not a necessity. It is perhaps worth starting small with accessible and useful ways to perpetuate …