Innovation & Launches
Ledger announces limited edition NFT-focused hardware wallet, partnership with POAP (2 minute read)
Ledger is releasing a limited edition Ledger Nano S Plus that will feature an engraving and special edition NFTs from POAP. There will only be 10,000 devices available for pre-order at $79 each. Ledger partnered with the Proof of Attendance Protocol (POAP) for the launch. POAPs can be used to show proof of engagement and attendance for key moments. Ledger has sold over 4.5 million Ledger Nano hardware wallets. Nearly 20% of the world's digital assets are secured by Ledger devices.
Incredibly excited to share the launch of Avalanche Multiverse (Twitter thread)
The Avalanche Foundation has launched Avalanche Multiverse, an up to $290 million incentive program focused on accelerating the adoption and growth of its subnet functionality. Avalanche's subnets allow individuals or institutions to build custom blockchains tailored to their needs. They make implementing compliance, data privacy, and performance easy for anyone that wants to participate in DeFi. Developers can use subnets to create apps that don't have to compete with other communities for network resources. A link to join the Multiverse incentive program is available in the thread.
‘Minimum Viable DAO’ Product Looks to Supercharge Web 3 Governance (3 minute read)
Fractal is a developer framework from Decent Labs that aims to help companies scale up their operations as DAOs. A decentralized autonomous organization usually consists of a group governed by token holders in a decentralized manner on a blockchain. While the technology isn't there yet, DAOs could one day be a replacement for traditional companies. Fractal's first product offering, the Minimum Viable DAO, will be a hyper-scalable composable governance framework that can be extended with modules. It will launch on the Ethereum mainnet later this month.
WalletConnect Raises $11M to Let Crypto Wallets Talk to Each Other (1 minute read)
WalletConnect, a startup that makes a protocol that connects blockchain wallets to web3 apps, has raised $11 million in a Series A funding round. The startup will use the funds to scale wallet interoperability and develop a generalized messaging layer. WalletConnect is developing a multi-protocol messaging network that will allow direct messaging between wallet users and push notifications from apps for on- and off-chain events. The protocol, funded in 2018, has integrations with over 100 wallets and more than 200 applications.
Guides & Resources
The 4 Key Web3 Trends at EthDenver (4 minute read)
There were four main web3 trends at EthDenver: Scaling DAOs, the creator economy, the post-profile picture NFT, and solving multichain. This article gives a quick overview of the discussions within each of the topics.
An Introduction to Sidechains (5 minute read)
This article explains what sidechains are, how they work, and the potential for them to expand the scope, scale, and dynamics of blockchain technology. The concept of a sidechain was first published in 2014 and involved many notable authors. In the paper, the authors note that Bitcoin's infrastructure faced trade-offs between scalability and decentralization, as well as concerns about privacy and censorship, and propose sidechains as a solution. Sidechains are separate blockchain networks that connect to a parent blockchain via a two-way peg. They have their own consensus protocols, allowing for improved privacy and security and minimizing the trust required to maintain a network.
Biden to sign executive order on regulating, issuing cryptocurrency (2 minute read)
President Joe Biden is reportedly set to sign an executive order on Wednesday that will direct several federal agencies to investigate and develop policies and regulations on digital currencies. The order asks the State Department to align US cryptocurrency laws with those of its allies. Concerns over Russia using cryptocurrencies to evade sanctions will be investigated. Financial institutions have been asked to be vigilant against potential efforts to evade sanctions in connection to Russia's war on Ukraine.