The blockchain and cryptocurrency sectors continue to evolve with significant developments this past week. Connext, a protocol for cross-chain applications, announced an upgrade named Bacco, set for December 14. This upgrade is expected to reduce operational costs for supporting new chains by 90% and will enable many new chains and Layer 2s (L2s) to operate on Connext.
In a significant collaboration, Diva Staking and Octant partnered for a substantial Ethereum allocation. Diva Staking, a liquid staking protocol, will decentralize Ethereum's staking landscape and has secured substantial funds, including 100,000 ETH, worth approximately $220 million.
Brahma, an on-chain execution and automation platform, successfully raised $2.5 million in seed extension funding. This platform aims to revolutionize on-chain execution for asset managers and DAOs.
Chainlink, a leading blockchain data-oracle project, witnessed an overwhelming response to its crypto-staking program, attracting over $632 million worth of LINK tokens in just six hours.
Avail, a blockchain data availability solution, is preparing for a mainnet launch in early 2024, with its testnet already showing promising engagement levels.
Flare, a layer-1 blockchain compatible with Ethereum's EVM standard, announced a new collaboration with several validators and data providers, marking a first in the crypto world.
Tether, the issuer of the world's largest stablecoin, is contributing to El Salvador's "Freedom Visa" program, emphasizing its commitment to technological innovation and empowerment.
Animoca Brands raised an additional $11.9 million for its Mocaverse project, reflecting continued investor interest in the blockchain gaming space.
SKALE, embracing an appchain infrastructure, won community approval for a chain pricing proposal that eliminates gas fees for end users, enhancing the network's economic sustainability.
The Institute of Electrical and Electronics Engineers (IEEE) plans to issue credentials on the Avalanche C-Chain, signifying a significant step in the adoption of Web3 technologies.
Blockaid released a "Transaction Safety" feature for the Rainbow Wallet, providing enhanced security against malicious sites and apps.
Lantern Finance launched a user-friendly staking platform in 15 U.S. states, focusing on security and regulatory adherence.
Blocknative unveiled a new Ethereum mempool explorer tool, aimed at reducing instances of block-level manipulation and protecting users from front-running bots.
Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.
