sn_bitcoin (@sn_bitcoin_) • Hey
Mankind used to look up at the sky and ponder our place in the universe, now all we can do is look down and worry about our place in the dusty world.
Publications
- Realize why I’m so obsessed with @lens/chloee .
Reminds me of the early tumblr collage boards.
Anyone else remember these?
- I had so much fun seeing Mr. Bill perform and I touched grass with SpaceyBlurr. I’m going to send him matic to mint a profile. I’d post some pictures of the venue but it’s so artistic it’s unethical to post it haha. It’s a nice “venue” but tbh it’s the best thing they’ve ever built here for me. Here’s something I made though.
Have a nice weekend. Gn.
- ⋆☾⋆ ‘Totality’ is now exclusively available for Refract Pass holders. Rick Silva is a Brazilian-American artist whose videos, websites, and installations explore virtuality, futurology, and speculative ecologies.
The artwork will be exhibited for the first time at our New York event at Public Records on April 4th.
Read the interview to learn more about this piece, and the moon as an inspiration around timekeeping and modern science. Includes links to the work, Pass and event tix.
https://www.refractionfestival.com/editorial/refract-pass-drop-rick-silva---totality
- I keep telling to my son
- 和Harmony is pure love, for love is complete agreement.和
- 📌 IMPORTANT REMINDER: BTC Cross-Chain Bridge Seeded $XLNK is Coming!
The governance proposal initiated by ALEX has passed, and its incubated cross-chain bridge Will be coined separately, 10% allocated to $ALEX holders, 70% goes to the treasury (for validator incentives, ecosystem growth, etc., the airdrop portion should come out of here)
- the cycle continues
- A Guide To Silo Finance’s Risk-Isolated Money Markets
AJ is a Founding Contributor at Silo Finance.
In this Quick Hit, we guide you through Silo Finance's risk-isolated money markets. Silo is a DeFi protocol on Ethereum and Arbitrum where isolated lending and borrowing pools can be created for individual tokens. This approach is different from the shared pool design of Aave and Compound, which means long tail assets can be listed while lenders can potentially earn higher yields lending to these markets. With over $ 300M in liquidity across its Ethereum, Llama (crvUSD markets on Ethereum), and Arbitrum markets, AJ shares how this design can provide us more control and opportunity as DeFi lenders and borrowers, as well as future plans for Silo V2 including the implementation of veSILO tokenomics.
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🔗 Essential Show Links 🔗
► Subscribe on Youtube: https://youtube.com/@defidad
► Subscribe on Apple: https://tinyurl.com/edgepod
► Subscribe on Spotify: https://tinyurl.com/edgepodspotify
► Subscribe on Linktree: https://linktr.ee/edge_pod
► Follow DeFi Dad: https://hey.xyz/u/defidad
► Follow Nomatic: https://hey.xyz/u/nomadic
► Follow 4RC: https://hey.xyz/u/4rcapital
► Learn about DeFi and Web3: http://defidad.com/
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The Edge Podcast Sponsor Resources
🥩 ETHER.FI | LIQUID STAKING AND RESTAKING ALL-IN-ONE
https://app.ether.fi/eeth?address=0x2f71129b240080C638ac8d993BFF52169E3551c3
🥑 INSTADAPP | THE NEW AVOCADO WALLET AND MULTISIG
https://avocado.instadapp.io/
🦊 METAMASK PORTFOLIO | TRACK AND MANAGE YOUR WEB3 EVERYTHING
https://metamask.io/portfolio/?utm_source=defidad&utm_medium=podcast&utm_campaign=pdapp&utm_content=episode101523
🙋♀️ Interested to sponsor The Edge Podcast? Fill this out:
https://hl6pu9d99u5.typeform.com/to/E3NY5Mqn
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Timestamps
0:00 - Intro
4:54 - What is Silo and how does it differ?
11:52 - More choice as lenders and borrowers
13:29 - Creating new Silo markets
17:44 - New possibilities with Arbitrum
21:43 - Silo Llama for crvUSD and why deprecate XAI
25:16 - SILO tokenomics now and in the future
32:47 - Closing
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🔗 Guest Links 🔗
► Silo Website: https://silo.finance/
► Silo on Twitter: https://twitter.com/SiloFinance
► AJ on Twitter: https://twitter.com/aiham_eth
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🙏 The Edge Podcast is produced by 4RC Labs. If you're a DeFi/Web3 builder, contact our team at: https://fourthrevolution.capital/
All opinions expressed by hosts and podcast guests are solely their own opinions and not necessarily those of Fourth Revolution Capital. Podcast guests and 4RC may have positions in the assets or other matters discussed in this podcast. This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. Do your own research. This is not a recommendation or endorsement to buy any token(s) related to any platform(s) discussed.
- V3 Migration Tool
'Tis the season to migrate to Aave V3! ❄️
Migration available for Ethereum, Polygon and Avalanche V2 markets.
- Leaders from Euroclear—which processes the equivalent of the world’s GDP every month—join Chainlink’s #TheFutureIsOn Spotlight Series.
Discover DLT's impact on global markets and the need for interoperability with Euroclear's Jørgen Ouaknine and Stephanie Lheureux:
- 🌲 Exploring the German Forest: A Unique Documentary 🎥
I decided to make a short documentary about the German forest, and the journey turned out to be more unique than expected. Hope you enjoy watching 😜
- **Problem:** ⛓️🚫⛓️
**Solution:** ⛓️⬡⛓️
Chainlink #CCIP solves the problem of fragmented onchain markets, creating a universal liquidity layer that maximizes the liquidity of tokenized RWAs.
- Last chance at @lens/ethglobal İstanbul to mint your @lens/fini
- Cochem, Germany 🇩🇪
#city #scenery #colorful
- The pristine scenery of Mt Kenya’s lakes,tarns,glaciers,forests and springs is breathtaking.
- Looking back at DeFi. We built something empowering, borderless and a democratizing financial system. I hope we forget how hard it was to build DeFi, because its extremely hard. Is it worth it? Yes. Blockchain tech exist to build systems that previously were error prone by the managing people. There are still countries that do not give decent access to banking, yield or even stable currency. Most of the governments still fund their budgets by printing money, meaning diluting value of your savings. It's not a system that is not build for the best interests of the people.
- Gm everyone 🎙
Missed our latest newsletter? You don't want to skip on these highlights:
🚀 @orbapp.lens Communities: Explore the thriving Lens community spaces.
🎉 Lens Creators Collects V2 HQ: Discover the creative hub reshaping the Lens experience. (WTF is this?)
💻 @fileverseio.lens : Step into the world of decentralised file sharing with Fileverse, a game-changer in workspace collaboration.
🏆 Trusted Talent Winners: Congratulations to to @eliii.lens for bagging the 1st place, winning the 33 WMATIC we promised to deliver.
Shoutout to @mazemari.lens and @jessyjeanne.lens for taking the second and third places!
🎨 Curated Collects: Explore the mesmerising world of @noko_.lens , a multi-media visual artist and curator.
🍻 Beer Taste: Join us on a delightful journey with one of the world's most famous beers.
🖊️ New Trusted Writer segment: Calling all writers! Contribute to our next editions and let your creativity flow.
Ready for a quick dive? Our newsletters take just 5 minutes to read. Subscribe, share, and collect knowledge!
https://paragraph.xyz/@trustmebroshow/decentralised-delights-and-beyond
- `this week on lens.` edition 21 😄
gm gm ☀️ please share your #lens highlights of calendar week 41 in the comments :-).
`this week on lens` featuring https://share.lens.xyz/p/0x01bbee-0x1444-DA-695491cb by @mazemari.lens .
the revenue of this week's post will go to the lucky winner 🥁🥁🥁 @pedrovilela.lens 🥳
thank you so much for sharing your highlights last week 🤍 @pedrovilela.lens @huugo.lens @iamtherealyakuza.lens @punkess.lens
(edition 20 2️⃣0️⃣ is still collectible until October 16, 2023 at 11:55 pm)
#thisWeekOnLens
- Ecosapiens waitlist now open Free mint to be released on 12 October
https://ecosapiens.xyz/leosapien?ref_id=LBD4ZZ4Q4
- The Enchanting Tale of Marina, the Mermaid Tree 🧜♀️
Once upon a time in the magical underwater world, there lived a beautiful mermaid named Marina. Marina had always been fascinated by the world above the water, especially the magnificent trees that stood tall and majestic on the land. She would often sit on a rock near the shore, watching the trees sway in the breeze, their branches reaching for the sky.
One day, as Marina swam through the coral reef, she stumbled upon a mystical pearl necklace. Little did she know that this necklace had the power to grant wishes. Overwhelmed with excitement, Marina held the necklace close to her heart and closed her eyes, wishing to experience the wonders of being a tree.
In an instant, Marina was transformed into a magnificent tree, her shimmering green scales turning into leaves, and her long, flowing hair transforming into branches that danced with the wind. Her tail fused with the earth, anchoring her firmly in the ground.
As a tree, Marina experienced a newfound stillness and serenity. She could feel the earth beneath her roots and the sunlight caressing her leaves. Her branches swayed gracefully, just like she had watched the trees do from the water's edge.
Marina's transformation amazed the creatures of the sea. Fishes swam around her, marvelling at her beauty and seahorses nestled in her branches, finding a safe haven. Marina's tree form became a gathering spot for all the sea creatures, who would come to seek her wisdom and share their tales.
With her newfound perspective, Marina realized that even as a tree, she could still connect with the ocean and its inhabitants. She would whisper secrets to the waves, and they would carry her messages to distant shores. Marina became a bridge between the land and the sea, symbolizing the deep connection between both worlds.
As the years passed, Marina's legend grew, and people from all over the world would come to visit the mystical mermaid tree. They would bring offerings of shells, flowers, and even small boats crafted from leaves as a token of their admiration.
Marina's journey as a mermaid turned tree taught her the importance of embracing one's true nature while appreciating the wonders of others. She discovered the beauty and interconnectedness of all living beings, no matter their form.
And so, the mermaid tree, standing tall and proud, continues to watch over the ocean, sharing her wisdom and reminding us that even the most unexpected transformations can bring about extraordinary beauty and harmony in the world. 🌳🧜♀️🌊
@cmn__.lens
- 𝘾༏⸀ᴜ𝐣𝚊 #𝑂8
.png 9375x9375px
50 Ediciones
Free collect
#vector #inkscape #digitalart
- Select mode: IRL fulfillment live on @chromadin.lens
Collect your NFTs as prints and apparel 👗
First 10 creators minting directly from Coin Op!
@syntheticfutures.lens @yawp11.lens @stryke.lens @w111th.lens @futurememory.lens @put2_.lens @skecz98.lens @hiro_lens.lens @re_de.lens @dos2048.lens
https://www.chromadin.xyz/#collect?option=fulfillment
- **Gitcoin Grants 18** 🟢
10 days left 🚀 - https://lenster.xyz/gitcoin
- PayPal to pause UK crypto purchases starting in October
PayPal stated in an email to select users on Aug. 14 that it will temporarily pause crypto buying services in the U.K. in the coming months.
That message states that the service will be paused starting on Oct. 1, 2023, and will resume at an unspecified date in early 2024.
Though buying will be unavailable, PayPal said that users will be able to hold and sell their cryptocurrency during the service disruption. The company did not state whether users will be able to transfer cryptocurrency to other wallets and exchanges, though it appears that this feature is only available to users in the U.S. at present.
The company assured users their crypto remains safe and said holding will not incur a charge. It apologized for the inconvenience to customers.
U.K. rules require updated compliance
PayPal said it is pausing crypto purchases due to introducing new rules from the U.K. Financial Conduct Authority (FCA). It said that those rules will require it to “implement additional steps before customers can purchase crypto.”
The company did not specify which rules are concerned. The U.K. will begin to enforce a Crypto Travel Rule in September 2023 that requires crypto companies to collect information about parties involved in transactions, though this rule’s September deadline does not seem to line up with PayPal’s October service change.
The FCA also recently introduced new promotional rules that aim to control how crypto can be promoted or advertised to potential investors. These rules come into effect in October but do not seem to match PayPal’s description of user-focused requirements.
PayPal’s reduced U.K. services are particularly notable due to the fact that the company is expanding its crypto offerings in the United States.
The company said that it would offer its own USD stablecoin on Aug. 7. Later, one PayPal executive suggested that the stablecoin could see extensive use in DeFi. Other reports suggest the company is combining its features into a “Cryptocurrency Hub.”
- #SummerOfLens
- Microsoft partners with Aptos blockchain to marry AI and web3
artificial intelligence has captured the hearts, minds and wallets of the technology industry. So it’s little surprise that Microsoft, which has several irons in the AI fire, is working to expand its footprint in the area. On Wednesday, the company announced that it is partnering with layer-1 blockchain Aptos Labs to work on AI and web3.
“The primary focus for both of us is solving our respective industries problems,” Mo Shaikh, co-founder and CEO of Aptos Labs, told TechCrunch+.
The collaboration allows Microsoft’s AI models to be trained using Aptos’ verified blockchain information, Shaikh explained. Aptos will also run validator nodes for its blockchain on Microsoft’s Azure cloud, which it anticipates will bring greater reliability and security to its service.
Microsoft is also looking to the future. “We predict that AI will be infused into web3 solutions at greater scale in the coming months and years,” Daniel An, global director of business development for AI and web3 at Microsoft, said in an email to TechCrunch+.
There’s little doubt that AI is having a massive impact on society. “We can become incredibly efficient in using these tools every day in our lives,” Shaikh said. “Whether it’s searching and putting together an index of the best restaurants in your neighborhood or helping you write code for your job or research.”
For technologist’s AI aspirations to come true, there is a growing need for transparency, trust and verification of AI-generated content, An said. “For example, how do we know that LLM-generated outputs are authentic [and] trustworthy? How do we know that the training data is bias free in the first place? Blockchain-based solutions can help with verifying, time-stamping and attributing content to its source, thereby improving credibility in a distributed digital economy.”
An compares large language models to content creators “on steroids” and blockchains as “a yardstick for transparency and trust.” To help people become more comfortable with AI — and LLMs more specifically — companies have to make sure users trust how the technology works. “The openness and immutability of blockchain can improve the trust that people place in AI-generated content and provide confidence that they’re making the right decisions.”
AI needs to evolve responsibly, and web3 could help it earn the required credibility, Shaikh said. “Everything we capture onchain is verified and that verification can [help] train these models in a way that you’re relying on credible information.”
Microsoft’s interest is in having credible information to train models in a way that’s verifiable, which is where Aptos can fit in, Shaikh said. “In order to do that you need an incredibly performant blockchain with high throughput.”
The throughput of Aptos’ blockchain can support up to 160,000 transactions per second and has a goal of reaching the ability to handle “hundreds of thousands by the end of the year,” Shaikh said. It also ranks as one of the fastest blockchain networks, alongside Avalanche, with a time-to-finality of less than one second, according to Messari research.
With fast throughput, quick settlement times and a cost to use at a fraction of a cent, Aptos’ blockchain may have all three things needed to make it attractive to Big Tech companies interested in building AI-related products and services — like Microsoft.
- **`Tenstorrent Secures $100 Million Led by Hyundai and Samsung`**
AI chip developer Tenstorrent has successfully closed a $100 million strategic financing up-round, co-led by Hyundai Motor Group and the Samsung Catalyst Fund. The funding round was announced on August 3, 2023, and includes participation from other investors such as Fidelity Ventures, Eclipse Ventures, Maverick Capital, and more.
Tenstorrent, headquartered in Toronto, Canada, with global offices in various locations, specializes in selling AI processors and licensing AI and RISC-V IP to customers who wish to own and customize their silicon. The company's CEO, Jim Keller, has previously developed AI chips for major tech companies like Apple, Intel, and Tesla.
The funding details reveal that $30 million came from Hyundai, $20 million from Kia, and $50 million from the Catalyst Fund by Samsung and other participating investors. The funds will be used to "accelerate the company's product development, the design and development of AI chiplets," and further advancements in its machine learning software roadmap.
Heung-soo Kim, Executive Vice President and Head of the Global Strategy Office at Hyundai Motor Group, commented on the investment, stating that the Group expects to "develop optimized but differentiated semiconductor technology that will aid future mobilities and strengthen internal capabilities in AI technology development."
The investment comes at a time when developers are competing with Nvidia, the current market leader in AI chip development. The growing demand for high-powered semiconductor chips to develop AI systems has led to increased competition in the market, with companies like AMD also announcing details of forthcoming AI chips.
Tenstorrent's collaboration with industry giants like Hyundai and Samsung highlights the growing interest in AI technology and the potential for innovation in the field. The investment also aligns with Hyundai Motor Group's aggressive adoption of technology, including their acquisition of Boston Dynamics and joint venture with Aptiv.
Samsung Catalyst Fund's EVP, Marco Chisari, expressed excitement about the opportunity to work with Tenstorrent, stating that the company's "industry-leading technology, executive leadership, and aggressive roadmap motivated us to co-lead this funding round."
The strategic investment in Tenstorrent is indicative of a broader trend in the automotive and electronics industries, where AI and semiconductor technologies are playing a pivotal role in shaping the future of mobility and computing. The collaboration between Tenstorrent, Hyundai, and Samsung may pave the way for new developments in AI technology, positioning them as key players in the rapidly evolving landscape of artificial intelligence and machine learning.
- Just get into it
It’s the season to touch grass #SummerOfLens
- The @aaveaave.lens DAO has successfully launched GHO on the Ethereum Mainnet.
Congrats to the Aave community on this historic moment!
GHO is the manifestation of the ethos of "Internet People" - those who believe in the transformative power of decentralization and the democratization of finance. It's about building a future where everyone can participate with equal access. GHO paves the way for a more transparent, decentralized and efficient financial future.
The beauty lies in its design. Overcollaterized and transparent, it's minted using assets supplied into Aave Protocol V3 as collateral. What sets GHO apart is its commitment to the broader Aave community. The repaid interest on GHO is redirected to the Aave DAO treasury. This supports the sustainability of the protocol and the ongoing development of new features.
GHO's price is pegged to null USD within the Aave Protocol. This design supports stability and utility, helping maintain GHO's peg to the dollar. For those staking AAVE tokens in the Safety Module, a discount on GHO awaits. It's a testament to the belief in rewarding those who contribute to the security and robustness of the Aave ecosystem.
Together, we're not just building a product; we're building a community.
Learn more about GHO here: https://aave.mirror.xyz/t7qcU668gSp9teT_SBhJb9_AVcbv8kpzvd0IpP39lBw
This is just the beginning of the GHO journey.
GHO with us at gho.xyz.
- USA Crypto Fiasco | Polygon 2.0 | The 2023 NFT Shoe Wars | Snoop NFT Passport
Warren Davidson (House Republicans) introduce bill, A16Z is expanding to the UK, Bank of China International and Union Bank of Switzerland Collaborate to Issue First Tokenized Notes on Ethereum, Arbitrum onboards Norway’s Digital Krone, Introducing Polygon 2.0, The Shoe Wars of 2023 & more!
- Lens Protocol, l'infrastructure d’une nouvelle génération de réseaux sociaux Web3
[Lens Protocol, l'infrastructure d’une nouvelle génération de réseaux sociaux Web3](https://cryptoast.fr/lens-protocol-infrastructure-nouvelle-generation-reseaux-sociaux-web3/)
Lens Protocol est une infrastructure pensée pour accueillir les réseaux sociaux du Web3, où l'utilisateur reprend le contrôle de ses données
- Polygon and Decentraland confirmed that it will host its annual NFT festival in the metaverse on June 17.
- Crypto Market Shakes as BlackRock Files for Bitcoin ETF and GBTC Soars
[Crypto Market Shakes as BlackRock Files for Bitcoin ETF and GBTC Soars - COINTURK NEWS](https://en.coin-turk.com/crypto-market-shakes-as-blackrock-files-for-bitcoin-etf-and-gbtc-soars/)
The cryptocurrency market witnesses a shift as BlackRock files for a Bitcoin ETF and GBTC sees a significant increase.
- Man of Crypto: Vietnam - 16M Crypto users, Growing Economy, Young Population
In this video, we'll take a look at the exciting crypto world of Vietnam. With 16 million crypto users and a growing economy, this is one country you don't want to miss out on.
We spoke 🙊 with Binance, ETH Vietnam, and Coin98
We tried to exchange ETH 💰 for food 🦞and local services 🏄🏻♂️
Take a look 🎥 how far did we go!
Follow us on socials: @manofcryptoxyz
- Circle CEO praises US stablecoin bill in remarks prepared for Congress: Circle CEO Jeremy Allaire published a blog post on June 12 featuring testimony that he plans to present to Congress regarding draft stablecoin…
[Circle CEO praises US stablecoin bill in remarks prepared for House committee hearing](https://cryptoslate.com/circle-ceo-praises-u-s-stablecoin-bill-in-remarks-prepared-for-congress/)
Circle CEO Jeremy Allaire published a June 12 blog post featuring testimony that he plans to present to Congress regarding draft stablecoin regulation.
- We're proud to introduce Lens Improvement Proposals (LIPs). This open, collaborative process will guide the future development of Lens Protocol.
Taking inspiration from the successful Ethereum Improvement Proposals (EIPs) and Aave Improvement Proposals (AIPs), LIPs takes a step towards decentralized governance. The LIPs process will foster an inclusive, transparent and collaborative environment.
You will find how to participate in LIPs in the Lens Protocol’s GitHub repository, which streamlines the community participation process. It gives anyone the chance to submit proposals, and promotes open discussion.
Let's dive into the first three proposals that are live today:
LIP-0: Establishing an Open Governance Model. A process where the Lens community can propose improvements to Lens Protocol. From the submission of proposals to transparent discussions — we aim to foster an open, collaborative, and inclusive decision-making governance model.
LIP-1: Open Standards for Algorithms. A proposal to establish open standards for algorithms — based on the open Lens data layer — that will encourage the development of third-party algorithms, diverse experiences and provide user choice.
LIP-2: Open Standards for Metadata. An initiative to establish metadata standards for Lens Protocol, promoting transparency, interoperability, and user empowerment.
Take a deep dive into LIPs in our latest blog: https://mirror.xyz/lensprotocol.eth/8uxN9fMYBOqyDW5yZ6O3DDdOLEv1jJtxcw9qk4c4wgM
LIPs are our next step in enabling community involvement in shaping Lens Protocol's future.
Join us at https://github.com/lens-protocol/LIPs
- Video game streamers are rebelling against Twitch’s lower revenue split and moving to a 4-month old platform run by a crypto casino operator in Australia
[Video game streamers are rebelling against Twitch’s lower revenue split and moving to a 4-month old platform run by a crypto casino operator in Australia](https://finance.yahoo.com/news/video-game-streamers-rebelling-against-220049670.html)
An upstart platform called Kick is emerging as a threat to Amazon's streaming crown jewel, Twitch.
- Binance And Changpeng Zhao Sued By The SEC: Has The Empire Just Started Crumbling?
https://fmctp.com/en/post/SEC-Sues-Binance-BNB-Price-drops/
- Today marks our 1 Year Anniversary of making friends onchain 🎂!
Thank you to everyone who has made the first year of Lens Protocol so special and groundbreaking. Lens has brought together builders, creators, communities, and friends, all while in beta.
There's so much planned for the second year ahead, and we can't wait to continue to grow with all of you.
Who did you become frens with on Lens?
🎨 by @nftsushi.lens and all collect proceeds go directly to the artist.
- ***Binance slams brakes on Bitcoin withdrawals***
Binance, the world’s largest crypto exchange, suspended Bitcoin withdrawals twice within 12 hours on Sunday and Monday Hong Kong time, citing a “large volume of pending transactions” on the Bitcoin blockchain. The suspension came amid a surge in Bitcoin transaction fees, which has put the world’s oldest blockchain network under pressure.
Binance tweeted on Monday: “Our set fees did not anticipate the recent surge in Bitcoin network gas fees” and the exchange said it was attempting to solve the issue by amending pending transactions with higher fees so they would be picked up by mining pools.
“Pending transactions are being processed by replacing them with higher transaction fees,” Binance said after it resumed allowing Bitcoin withdrawals. “To prevent a similar recurrence in the future, our fees have been adjusted. We will continue to monitor on-chain activity and adjust accordingly if needed.”
Binance also noted in the tweet it has been working to integrate the Bitcoin Lightning Network into its transaction services, which it said would help in such situations. The Lightning Network is a layer-2 protocol for the Bitcoin blockchain that aims to improve the network’s scalability.
On Sunday night Hong Kong time, Binance tweeted that it had encountered a “congestion issue” and had to halt Bitcoin withdrawals. About an hour and a half later, it said it had resumed withdrawals.
Data from CryptoQuant showed that Binance saw total outflows of around 188,281 BTC on Sunday alone, the largest daily volume CryptoQuant has recorded since it started tracking such data in May 2020.
The average transaction fee on the Bitcoin blockchain reached US$19.20 on Sunday, its highest level in almost two years, and soared to US$31.14 on Monday, according to data from blockchain information platform BitInfoCharts. Bitcoin’s average transaction fee was only US$2.88 at the beginning of May.
The surge in activity on the Bitcoin network, and the subsequent suspension of BTC withdrawals by Binance, was interpreted by some as an example of how someone might attack the Bitcoin network in the future, choking it with transaction requests.
Others, meanwhile, highlighted that to do so would require deep pockets, as one user had to pay more than 5 BTC (over US$170,000) to complete one transaction earlier this week. The congestion temporarily created a fork in the Bitcoin blockchain that meant nearly 10 BTC had been double-spent as it had been registered on both chains.
The last time this happened was November 2020, highlighting how unusual congestion on the network has become. The rocketing fees, alongside record-breaking outflows, suggest Bitcoin may be entering a new phase in its evolution.
The total number of Bitcoin-based digital assets is now more than 5 million, a figure that has doubled in less than a week.
Although historically Bitcoin has been used as a store of value, and the demand on the network has therefore been manageable, the explosion of people taking advantage of the BRC-20 standard means the network and its off-ramps need to adapt.
- Until next time, Tokyo ✌️
Featuring: @ethglobal.lens, @galverse.lens, and DAO Tokyo
- Onuray Bal - You Got Me (Official Music Video)
Stream : https://millionrecords.fanlink.to/YouGotMe
- BIG NEWS! As expected, Lens is finally building its own network. @lensprotocol @stani.lens
Currently, Lens faces the challenge that as user numbers increase exponentially, the Polygon network cannot support such a large amount of usage data, leading to lagging and various bugs. If Lens were completely open to all users in the future, catastrophic-level bugs could occur. However, in order to give people complete control over their content and maintain the current usage scheme while also having traditional social media network ease-of-use features.
So, Lens has launched Bonsai - a scalable social protocol based on Optimistic L3 construction which can significantly improve throughput and reduce costs without sacrificing user sovereignty.
Unlike common layer 2 solutions that compress transactions into L1 chains, Bonsai sends and stores them on a data availability layer (DA). Through collaboration with two data storage companies - Arweave and Bundlr - it will store data off-chain rather than on-chain. It can process Polygon transactions off-chain for ultra-large-scale data processing while reducing costs.
Currently, Polygon's TPS is roughly around 6K-10K; however,Lens' document suggests that there are peak demand requirements for social experiences up to 25K TPS.If restricted by polygon’s TPS rate,Lens operations including posting、commenting、mirroring、following、and collections— are constructed，signed，sent，stored on EVM；therefore occasional delays may affect user experience.Different from EVM processes,Bonsai requires signatures from wallets when constructing transactions (which will pass through chain status) but does not send or broadcast actual transactions across chains.With Bonsai，Lens Scalability would no longer be limited by block space constraints.
There are three types of roles in Bonsai: submitters who validate and construct DA-layer data submitted to Arweave；validators who monitor submitter's DA-data contents & confirm validity；timestamp ensures credibility against fraudulent blocks.
Signless, gasless, and collect in the current version will also be implemented on Bonsai.
Meanwhile, Bonsai has launched its own explorer ( bonsai.lens.xyz ), where users can track and find transaction details and relevant data while monitoring throughput speed.
From signing an open letter in February last year, to launching on the Polygon mainnet, and announcing their own Bonsai Network, what will be the next step?Governance? Tokenization? Whatever it may be，the Lens team steadily moves forward step by step and achieves one roadmap target after another. We have reason to believe that a true Web3 decentralized social media network will soon come into fruition.Bonsai's debut will unveil this grand production.
- Thank you @vibing.lens @christina.lens @opoptoe.lens @andreih.lens @nader.lens @punkess.lens @alexanderguy.lens @huugo.lens @lindseymills.lens for collecting my post and supporting Sarah and Sweetwater Coffee in Dillon, MT!
Sarah was delighted to see people wanted to support her 🤩—> story here https://lenster.xyz/posts/0x24-0x0829
As she is not web3 native I met up with her to hand her the cash from the collects revenue of her post. Here’s her reaction:
- A year ago I founded @lnrzxyz.lens with the goal of bringing curated music on-chain with the help of community.
Yesterday we launched our genesis collection entitled "Satellites" that features 5 amazing artists.
1,250 Editions @ .01ETH
Today I woke up and there are only 125 editions left at Lnrz.xyz
Music is thriving, even in these interesting market conditions.
The future is bright.
- Tokenization presents an immense opportunity for existing financial institutions and the #DeFi ecosystem to create a more transparent and efficient global economy.
Check out this overview of how tokenized assets are created👇
https://blog.chain.link/how-to-tokenize-an-asset/
- gm **4/20** 👋
- Meet @cyberconnect.lens CTO of Cyberconnect💨, who impressed me with their speech on "Web3 Social" at a panel discussing the future of the crypto industry👷♀️. Although I didn't understand all of it, their words left a lasting impression on me😃. They seem like a brilliant person who could probably hack the Matrix😎, or something equally cool. Definitely give them a follow!🤓
#Oknim
is offering personalized unique PFP 🌸
👉 https://form.jotform.com/230670316131444
Only available form for @01h24 followers!
#frens #PFP #NFT #giveaway
#Crypto #Blockchain #character
#corn #oknim
- geoNFTs... Another fad, buzzword or something you should care about?
Let's find out 👇
https://newsletter.w3academy.io/p/geonfts-took-over-nyc?utm_medium=social&utm_source=lens
- #Web3 games make it possible to enforce marketplace royalties so that game developers continuously earn revenue every time an NFT is transacted.
This simple change fundamentally alters the incentive structure between game publishers and players.
Game monetization and design are intrinsically linked.
This blog dives into the history of video game monetization and provides key considerations on how to monetize a #blockchain game ⬇️
https://blog.chain.link/game-monetization-blockchain/