Nightfall has entered the final phase of production preparation for distribution using the Polygon network. Tezos is getting ready to take a big step forward with the ‘Mumbai’ upgrade. Coinbase adds Kava Network (KAVA) to its list. And more news for altcoin projects awaits you.
There is hot and very important news for altcoin projects
EY and Polygon ready for Enterprise Edition
An updated version of Nightfall, which uses Zero-knowledge (ZK) evidence to ensure data privacy, will go live at an EY innovation event in May of this year. Nightfall, a system under construction for five years that allows businesses to protect the content of transactions on the public Ethereum Blockchain, has entered the final phase of production preparation for distribution using the Polygon network. The latest updates to Nightfall have made its code completely decentralized. This means that besides adding industry standard X.509 identity certificates, it can work anywhere without a single responsible entity. Paul Brody, EY Global Blockchain Leader, said that these latest updates herald the launch of the product in May of this year.
Tezos will take a big step forward with ‘Mumbai’ upgrade
Nomadic Labs, a leading blockchain developer within the Tezos community, recently shared that the latest Tezos protocol proposal, dubbed ‘Mumbai’, is now ready to be implemented. Tezos co-founder Arthur Breitman has declared that the latest upgrade for the popular proof-of-stake blockchain is one of the most transformative. In a tweet, he stated that this upgrade is his biggest ever.
Frax Finance gains momentum with ETH staking narrative
High returns on Curve-related pools have attracted millions of dollars’ worth of ETH to Frax in recent weeks. Decentralized finance (DeFi) app Frax Finance is fast gaining traction among investors due to its robust product line-up, as liquid staking derivatives (LSD) heats up ahead of Ethereum Blockchain’s Shanghai upgrade. The Frax protocol is a two-token system consisting of the FRAX stablecoin and a governance token called Frax Share (FXS). FRAX is pegged to the US dollar, partially collateralized by USD Coin (USDC) alongside periodic FXS trading to maintain its market value.
Coinbase adds KAVA to its list
Coinbase, one of the major cryptocurrency exchanges, announced that it will add Kava Network (KAVA) to its list. According to Coinbase’s announcement, it will list KAVA on Thursday, January 19 at 20:00 CEST.
Thena’s TVL hits $90 million in its first week
Thena, a liquidity layer and decentralized exchange (DEX) on BNB Chain, has seen a massive increase in total locked value (TVL) from $5 million to $90 million since its launch last week. The protocol offers returns of up to 9.93% for liquidity providers who stake stablecoins, while returns of up to 222.86% are available for those who stake the platform’s native token THE. At the time of this writing, the altcoin was trading close to 3 cents with a circulating market cap of just $4.2 million, according to data from blockchain analytics platform Dune.
Celsius and Fabric Ventures reach buyback agreement
cryptocoin.comAs you follow on, the crypto credit institution Celsius collapsed in 2022 and then went bankrupt. Celsius, now bankrupt, is seeking to get more than $6 million from an $8 million investment pledge by VC firm Fabric Ventures. Fabric will invest more than $8 million in Celsius’s Series B round, spread over three payouts, according to a document submitted to the court on Tuesday. Celsius said it closed the extended Series B in November 2021, raising the $400 million round to $750 million worth $3.25 billion.
Dogecoin becomes the only meme-coin to reduce carbon emissions by 25%
Dogecoin’s (DOGE) annual Carbon emissions have decreased by nearly 25% in 2022 after joint efforts by Blockchain developers and billionaire Elon Musk. Blockchain emitted 1,063 tons of CO2 in 2022, marking a 25% reduction from the 1,423 tons emitted in 2021. According to data from Forex Suggest, which recently evaluated the crypto trade’s global impact on Carbon emissions, the network’s annual electricity use fell to 1,416,730 kWh last year from the previous 1,897,998 kWh recorded in 2021.
Rarible adds market maker for Polygon-based NFTs
Rarible CEO Alexei Falin has argued that community markets will be the future of NFT trading. Non-Fungible Token (NFT) marketplace Rarible has announced the launch of a marketplace builder that will allow artists and projects to customize a marketplace for Polygon-based NFT collections. Altcoin emphasized that the new tool will allow various customization options such as royalty adjustments and will not require any coding. The marketplace builder aims to allow creators to showcase ‘unique brand identities’ that the Rarible team claims are impossible to do in traditional NFT marketplaces.
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