Ethereum Ropsten testnet planned for June 8 marks “huge milestone”

The Ropsten public testnet, a testing environment that is the closest replication of the Ethereum mainnet, is set to undergo its long awaited merge on June 8.

The merge will mimic Ethereum’s upcoming transition from using a proof-of-work consensus mechanism to a proof-of-stake one. This allows developers to test and finalise adjustments for Ethereum’s mainnet merge later this year.

Ethereum DevOps engineer Parathi Jayanathi submitted a pull request for the Ropsten...

A16z State of Crypto: “It is still early days for web3”

Andreessen Horowitz (a16z), a prominent venture capital firm investing heavily in the web3 sector, has published its first “State of Crypto” report exploring current trends in the market.

The overarching takeaway from the report is that web3 and the crypto market develop in cycles.

As prices climb, interest in the sector grows to the point where it can no longer be sustained. Following a (usually steep) falloff in prices, innovators develop new projects that revive...

Medha Parlikar & Niamh O’Connell, CasperLabs: Enterprise adoption in blockchain

CasperLabs is the overseer of the Casper blockchain, a proof-of-stake network optimised for enterprise and developer adoption that launched in early 2021.

The Zug-based company provides engineering and professional services to enterprise clients looking to migrate key business processes to a secure and scalable blockchain.

Following a recent partnership with Amazon Web Services and expansion into the Chinese market, The Block caught up with CasperLabs’ CTO and...

Entre launches on DeSo blockchain as web3 LinkedIn competitor

Entre, which describes itself as decentralised web3 LinkedIn competitor, has launched on the DeSo blockchain.

Michael Marra, the app’s founder, describes it as “a web3 professional network designed to help people connect and work in the web3 world”.

Whereas on LinkedIn one can post content with the end goal of building opportunities, on Entre users can cultivate opportunities and earn from their content right away.

With web3 jobs in high demand from both...

Algorand nets FIFA partnership as World Cup’s official blockchain

FIFA World Cup

Proof-of-stake blockchain Algorand has scored a partnership with football’s world governing body, FIFA, to become the official blockchain of the upcoming World Cup starting in Qatar in November.

In terms of sponsorship, Algorand will be a FIFA World Cup Qatar 2022 “Regional Supporter in North America and Europe” as well as a FIFA Women’s World Cup Australia and New Zealand 2023 “Official Sponsor”.

The technical partnership deal means Algorand will become the...

Standard Chartered buys into metaverse with The Sandbox partnership

Sandbox

Global banking giant Standard Chartered is following other major competitors journeying into the metaverse by partnering with decentralised gaming platform The Sandbox.

The company’s Hong Kong subsidiary (SCBHK) bought space in The Sandbox’s Mega City district, an area announced in January alongside a number of Hong Kong partners from various sectors.

Led by SC Ventures, Standard Chartered’s innovation, fintech investment and ventures arm, the partnership will seek...

BlockApps raises £31m to expand traceability enterprise platform

Blockchain

BlockApps has raised $41 million (£31.4m) in funding for the expansion of its blockchain-as-a-service (BaaS) platform, STRATO.

STRATO is an Ethereum-compatible blockchain solution that helps enterprises bring more transparency and traceability to their operations.

The oversubscribed funding round was led by Liberty City Ventures, with participation from new investors Morgan Creek Digital, Eidetic Ventures, and Givic. Combined with a prior $9 million (£6.9m) financing...

Cronos partners with Chainalysis for security and compliance support

Chainalysis x Cronos

Cronos, the native token of Crypto.com’s ecosystem, has partnered with leading blockchain analytics firm Chainalysis to bring security and data services to its token.

Previously known as Crypto.com Coin, Cronos (CRO) runs on the first Ethereum-compatible blockchain network to use Cosmos SDK technology. It fluctuates towards the end of the top twenty cryptocurrencies in terms of its market capitalisation.

The partnership has already added Chainalysis KYT (Know Your...

Circle bags £300m from BlackRock to compete with top stablecoin Tether

Circle

Web3 finance firm Circle has agreed to a $400 million (£307m) funding round as part of a broad strategic partnership with BlackRock.

As the issuer of stablecoin USD Coin (USDC), Circle is responsible for the fifth largest cryptocurrency by market cap alongside a host of decentralised finance (DeFi) tools.

The funding round is expected to close in the second quarter with other investors including Marshall Wace LLP and Fin Capital.

In addition to the capital...

LG Electronics expanding into blockchain and crypto opportunities

Seoul, South Korea

LG Electronics, South Korea’s fourth largest company, has added blockchain and crypto as new business areas to its corporate charter as part of its plan to expand beyond home appliances.

According to local news source JoongAng Daily, the two crypto-focused objectives were approved by shareholders during the company’s annual general meeting on March 24.

The objectives were detailed as “the development and selling of blockchain-based software” and “the sale and...