Cardano launches Vasil upgrade on testnet

Cardano’s much-anticipated Vasil upgrade has successfully launched on the project’s testnet.

Vasil is the most significant upgrade for Cardano since ‘Alonzo’ in September 2021 which brought smart contracts to the platform.

The platform’s main developer, IOHK, described Vasil as delivering numerous improvements:

https://twitter.com/InputOutputHK/status/1541800460838993922

Cardano is consistently among the most actively-developed blockchain...

Nansen begins tracking Solana’s NFT ecosystem

Blockchain analytics firm Nansen now supports tracking Solana’s large NFT ecosystem.

Nansen says Solana has been one of its most requested chains and has a “thriving” NFT ecosystem.

The real-time, on-chain data provided by Nansen certainly shows the demand for Solana-based NFT projects. Nansen claims it’s tracking over 53,000 NFT collections.

As of writing, a couple of relatively new NFT collections (<48 hours) are vying for the top two most...

Tether CTO responds to reports of hedge funds shorting USDT

Tether CTO Paolo Ardoino has responded to reports of hedge funds shorting its USDT stablecoin.

A “short” is a bet against the value of an asset. In contrast, a “long” position is a bet that an asset will appreciate in value.

On Monday, the Wall Street Journal reported that various traditional hedge funds had open USDT short positions worth hundreds of millions of dollars.

“There has been a real spike in the interest from traditional hedge funds who...

Ethereum Virtual Machine goes live on Cardano testnet

Ethereum developers that are considering defecting to Cardano can now test their dApps on the growing blockchain platform.

https://twitter.com/InputOutputHK/status/1535979507840167943

Cardano’s Ethereum Virtual Machine (EVM) has full compatibility with Ethereum upgrades and tools, Web3 wallet compatibility, can use the Ouroboros Byzantine Fault Tolerance consensus protocol, and inherit security from Cardano’s main chain.

Cardano vs Ethereum

Ethereum is...

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...

Terra buys another 4,550 Bitcoin worth over $206M

Blockchain project Terra continues to amass Bitcoin by taking another 4,550 off the market, worth over $206 million.

Terra has been following a number of companies – including MicroStrategy, Tesla, Square, and others – in adding Bitcoin to its reserves.

Do Kwon, CEO of Terraform Labs, has said his ultimate aim is to have Terra’s reserves of Bitcoin rival that of Satoshi Nakomoto...

PayPal forms advisory council of leading experts on blockchain and crypto

PayPal Logo

Payments giant PayPal has formed a cross-disciplinary team of industry experts as part of its new advisory council on blockchain, crypto, and digital currencies.

The move comes as part of the company’s ambitions to lead the way towards a more affordable and efficient digital financial system through blockchain technologies.

Made up of six experts from across the cryptocurrency, technology, and economics industries, the Blockchain, Crypto, and Digital Currencies (BCDC)...

NatWest Markets establishes new blockchain team

Teamwork

NatWest has created a new digital team within its capital markets business to upscale its blockchain strategy.

Leading the team will be Chris Agathangelou, who was recently appointed as NatWest’s head of digital capital markets.

The team will focus on delivering credit and rates products to issuers and investors through digital channels and currencies that are underpinned by distributed ledger technology.

With financial markets increasingly embracing...

Polkadot network launches parachain functionality

Parallel Lines

Polkadot, a network protocol for connecting multiple blockchains, has launched its first five parachains, individual blockchain networks running in parallel to create an interoperable ecosystem.

The five parachains that went live this weekend – Acala, Astar, Clover, Moonbeam, and Parallel Finance – were chosen following successful crowdfunded auctions and focus on topics from decentralised finance (DeFi) to investments and loans.

In total, the five projects raised...

Blockchain Association boosts lobbying power with $4m funding injection

Capitol Building

The Blockchain Association, a lobbying group for improving public policy towards crypto and decentralised ledgers, has raised $4 million (£2.97m) in new funding.

A decentralised web advocate group, the Filecoin Foundation, provided half the funding with the promise of an additional $2 million (£1.49m) if the Blockchain Association can match it through outside funding.

Crypto exchange Kraken and Digital Currency Group – the parent company of CoinDesk – contributed...