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According to a Nov. 6 post on X, Cardano has chosen to use Substrate, the foundation of the Polkadot SDK, to build its partner chain project. This decision is said to come after four years of research, culminating in Cardano selecting Polkadot’s SDK, formerly Substrate, as the ideal choice due to its modular and flexible design. A self-sovereign blockchain A leading developer of Cardano, IOG goes on to describe Substrate as a “proven open-source modular framework” and will contribute a set of composable pallets to broaden its overall reach.” 1/ Cardano will use Substrate, the foundation of the Polkadot SDK, to build out its “partner chain” project — showcasing Substrate's potential to expand across Web3, and its ease of use for other chains and ecosystems ️ — Polkadot (@Polkadot) November 6, 2023 As stated by community member Goku, Midnight is likely the first adopter of these partner chain s, with a CEO who has roots back from Parity Tech. ...

Binance’s BNB Chain is set for two upgrades that are aimed at improving finality of the network and compatibility with other EVM blockchains. Binance’s proprietary BNB Smart Chain (BSC) is set to undergo two hard forks through August 2023 that are aimed at reducing the possibility of a malicious block chain reorganization and increasing the compatibility with other EVM block chain networks. The Plato and Hertz upgrades are scheduled for Aug. 10 and Aug. 30 respectively, following extensive testing. The Plato upgrade, which has already taken place, introduces BEP-126. The latest evolution proposal implements a fast finality mechanism that is expected to rule out the ability for blocks to be reverted. The Plato upgrade and hard fork was carried out Aug. 10 at block height 30724096. Source: bscscan.com Arno Bauer, Senior Solution Architect at BNB Chain, unpacked the specifics of the network upgrades in conversation with Cointelegraph. The fast finality mechanism is expected to reduce...

Multichain has suspended its operations after an unexplained transfer of crypto assets worth millions of dollars took place on July 6. Stablecoin issuers Circle and Tether have frozen over $65 million in assets tied to the suspected exploit of cross- chain router protocol Multi chain . The move follows unexplained large outflows from the Multi chain MPC bridge on July 6.  According to the knowledge graph protocol 0xScope, three addresses that received at least $63.2 million in USD Coin (USDC) from Multi chain are now frozen. Another report from the Fantom Foundation notes that more than $2.5 million in Tether (USDT) had also been frozen from two addresses listed by Etherscan as "Multi chain Suspicious Addresses". Over $125 million worth in cryptocurrencies were withdrawn from multiple wallets on July 6, affecting Multichain’s Fantom bridge, as well Dogechain, Moonriver, Kava and Conflux's ecosystems. The cause of the abnormal transfer of assets remains unclear. Upd...

Ordinals inscriptions, viewed as a kind of Bitcoin-native NFTs, are picking up steam among some Bitcoin circles, even though the procedures to issue them are far from user-friendly. The protocol, which was unveiled in January, has already served to bring more than 7,000 inscriptions directly to the Bitcoin chain, with some collections already present. Ordinals Pick Up Steam; More Than 7,000 Inscriptions Issued Ordinals, the protocol that allows each bitcoin satoshi to be identified with a non-fungible number, is gaining popularity among certain circles, even when the procedures to include an element in the Bitcoin block chain (an “inscription“) is still very far from user-friendly, as each user must run a full Bitcoin node to make an inscription. The protocol, which rose to prominence due to a feature present in the Taproot update allowing the size of a transaction to be as big as the size of a Bitcoin block, already has served to bring more than 7,000 inscriptions to th...

Despite a tumultuous year, DeFi, NFTs and blockchain games drove DApp usage across the industry, according to DappRadar’s 2022 report. 2022 will go down as a challenging year for the cryptocurrency and blockchain space, but the adversity faced has been strewn with plenty of positives for the decentralized application (Dapp) ecosystem. DappRadar has released its yearly report on the industry, focusing on challenges faced alongside notable technological achievements and an increasing number of active daily users. Cointelegraph highlights the main takeaways from the DApp industry in 2022, which are pertinent, considering macro factors like inflationary concerns in major economies, the collapse of industry-specific projects like Terra/Luna and FTX as well as market woes across the board. Perhaps most telling is unique active wallet data (UAW) from 2021 and 2022, demonstrating a 50% increase in the average daily UAW year on year. This is up from 1.58 million daily users in 2021 to an aver...

As blockchain developers compete for traffic and resources for their respective dapps (decentralized applications), the downside to this, according to some in the industry, can be a poor user experience which in turn undermines the mass adoption cause. Therefore, unless current blockchains — both Layers 1 and 2 — can overcome niggling issues like high gas fees or poor network speed, it will be difficult to convince traditional organizations that they need the tech, according to Ankr’s Josh Neuroth. Overcoming Blockchain Scalability Challenges In cases where an attempt to improve a block chain ’s transaction throughput is made, history has shown that compromises that might affect the chain ’s security may have to be made. Alternatively, developers can consider overcoming this problem, known as the block chain trilemma, using side chain s or application-specific block chain s (App chain s). As Josh Neuroth, head of product at the decentralized Web3 i...