Cardano launches its algorithmic stablecoin, Djed

Cardano

Cardano has launched its algorithmic stablecoin, Djed (DJED), on its mainnet after a successful security audit.

The stablecoin, backed by Cardano’s native ADA token, is pegged to the US dollar and uses the Shen (SHEN) token as its reserve coin.

Unveiled in November last year, the announcement was met with widespread online debate over the place of algorithmic stablecoins in the future of blockchain, given the collapse of TerraUSD (UST) months prior.

Since...

California DMV taps Tezos blockchain for digital car title transfers

Old Vehicle

The California Department of Motor Vehicles (DMV) is trying to digitise car titles and title transfers on a private Tezos-built blockchain.

The state agency has collaborated with Tezos and blockchain software firm Oxhead Alpha to build a successful proof-of-concept.

The move is part of a wider push to modernise the state’s in-place systems for car titles and increase transparency in title transfers. California’s DMV is responsible for all vehicle registrations and...

Listen-to-earn lets you earn Bitcoin for listening to a podcast

Podcast

Podcast platform Fountain has partnered with app monetisation company ZEBEDEE to bring Bitcoin micropayments to podcast listeners.

The partnership will give both podcast creators and listeners the ability to earn Bitcoin based on the amount of time spent with content.

ZEBEDEE says that listeners will support creators by paying for content by the minute as they listen to it. Listeners themselves will also earn money for their first hour of daily podcast listening and for...

Cardano recovers from 50% of network nodes going offline

Cardano ADA Token

Cardano users reported that at least half of the blockchain network’s nodes went offline over the weekend.

A Telegram post from a group for Cardano stake pool operators (SPOs) said that an anomaly caused 50% of Cardano nodes to disconnect and restart.

The post said the disruption was caused by a “a transient anomaly causing two reactions in the node, some disconnected from a peer, others threw an exception and...

Ethereum decreased its annual CO2 emissions by over 21M tons

Over 109M more trees would have been needed to offset Ethereum’s CO2 emissions prior to its switch to a more efficient consensus.

Ethereum switched to a Proof-of-Stake (PoS) consensus last year in an event called The Merge. Regardless of personal views on Ethereum and the wider blockchain and web3 space, The Merge was broadly seen as an incredible feat of open-source engineering.

The Merge is the first major step on the road to Ethereum 2.0 which aims to tackle the...

Ransomware revenue for hackers falls 40% as victims think twice

Security

Ransomware attacks may be coming less effective, as revenue from ransomware fell by 40% to $456 million (£368m) in 2022.

Blockchain analytics firm Chainlaysis shared the data as part of its upcoming 2023 Crypto Crime Report, emphasising that the reduced revenue doesn’t necessarily mean the number of ransomware attacks has fallen.

What has changed is that companies have been upping their cybersecurity measures and ransom victims are becoming less willing to pay up to...

National Australia Bank to launch 1:1 AUD stablecoin

Australian Flag

National Australia Bank (NAB) plans to launch an Australian dollar-pegged stablecoin on the Ethereum network in mid-2023.

The move would make National Australia Bank the country's second ‘Big 4’ bank to launch such a coin, after rival bank ANZ minted 30 million tokens of its A$DC stablecoin in March 2022.

Much like ANZ’s coin, NAB plans to use its AUDN stablecoin to streamline cross-border payments and support carbon credit trading, according to a report from...

Polygon implements hard fork to reduce gas spikes

Blockchain

Ethereum layer-2 scaling solution Polygon has undergone a hard fork to reduce gas spikes and address issues that have impacted users on its proof-of-stake (PoS) chain.

The fork was code into block 38,189,056 and no centralised actor initiated the shift. Polygon informed validators that they would have to update their nodes earlier this week.

https://twitter.com/0xPolygon/status/1615370181630652417

87% of the 15 voters making up Polygon’s governance team voted in...

CasperLabs: 90% of enterprises are adopting blockchain tech

Business

Despite a difficult past year for crypto and blockchain, new research from web3 platform CasperLabs has found that 87 percent of businesses say they are likely to invest in blockchain in 2023.

‘The State of Enterprise Blockchain Adoption in 2023’ questioned 603 enterprise “decision makers” across firms from the United States, UK, and China.

It found that sentiment towards blockchain remained strong in these countries despite market downturns. On top of the 87...

Venom Foundation launches $1bn web3 fund from Abu Dhabi

Abu Dhabi, UAE

The Venom Foundation, an Abu Dhabi-based blockchain platform, and investment manager Iceberg Capital have unveiled a $1 billion venture fund to invest in web3 and blockchain projects.

The Venom Ventures Fund (VVF) plans to invest in pre-seed to Series A funding rounds with projects focused on decentralised finance (DeFi), payments, asset management, and blockchain gaming.

Venom Foundation is a layer-1 blockchain solution with a focus on “serving the needs of the Middle...