Monday, September 16, 2024

Optimism Layer 2 Network

Optimism:Ethereum Scaling

Optimism, launched in 2021 by Optimism PBC, is a layer-2 scaling solution for Ethereum that enhances transaction speed and reduces costs using Optimistic Rollups. This technology processes transactions off the main Ethereum chain while assuming they are valid unless proven otherwise, which speeds up processing and cuts fees. Optimism is designed to be fully compatible with Ethereum, allowing developers to deploy existing smart contracts with minimal changes. By increasing transaction throughput and lowering costs, Optimism aims to improve the efficiency of Ethereum-based dApps and support the growing demand for scalable blockchain solutions.

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Bitcoin

Coinbase Introduces cbBTC: Wrapped Bitcoin Aims to Rival BitGo’s WBTC

yfarmx - 0
Coinbase has made a bold move into the world of decentralised finance (DeFi) with the launch of cbBTC, its own wrapped version of Bitcoin. This ERC-20 token, backed 1:1 by Bitcoin held in custody by Coinbase, allows Bitcoin holders to leverage their assets within the Ethereum and Base ecosystems. Coinbase’s entry into the wrapped Bitcoin market comes at a time of growing competition, particularly with BitGo, whose Wrapped Bitcoin (WBTC) has long dominated the space. With cbBTC, Coinbase aims to provide an alternative while expanding Bitcoin’s utility in DeFi.
Ethereum & L2's

Farcaster: Decentralised Social Networking

John Kamal - 0
Farcaster, a decentralised web3 social protocol built on the Optimism Layer 2 scaling network, has recently piqued the interest of the crypto community, including notable figures like Vitalik Buterin and Jesse Pollack. I find out why...

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About us

YFarmX is a web3 media brand that delivers breaking news and premium insights about digital assets. As part of our editorial content, we provide learners with the critical analysis and information they need to make smarter decisions and to better understand emerging web 3.0 technologies.

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Latest News

SBF Appeal Seeks to Overturn Conviction, Cites Judicial Bias

Solana News 0
Sam Bankman-Fried has filed an appeal seeking a retrial of his fraud conviction, citing judicial bias and claiming that the original trial was unfair. His legal team argues that the judge's actions compromised the fairness of the trial, leading to an unjust conviction.

UK Parliament Introduces New Bill to Recognise Cryptocurrencies as Personal Property

Regulation 0
The UK Parliament has introduced the Property (Digital Assets etc) Bill, officially recognising digital assets like Bitcoin, NFTs, and carbon credits as personal property. This new legislation provides owners with legal protections against fraud and theft, positioning the UK as a global leader in crypto law.

TADA Partners with TON to Introduce Web3-Powered Ride-Hailing

TON 0
TADA, a leading ride-hailing service in Southeast Asia, has partnered with the TON Foundation to launch TADA Mini, a Telegram-based app that integrates Web3 technology into ride-hailing. Users can now book rides directly through Telegram and pay with cryptocurrencies like $TON or $USDT-TON. This collaboration marks a step forward in mainstreaming blockchain technology and cryptocurrency adoption in everyday services.

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