Axiom Daily: Litecoin, Theta, Chainlink, Flow

Written by Ricky Nave in News

Axiom Daily keeps you up-to-date on crypto & web 3 in just 4 minutes each day.

Lightcoin gets a privacy upgrade

After two years of development, Litecoin has finally released its “Mimblewimble” (MW) upgrade which gives Litecoin users not only the opportunity to chuckle but also the power to opt into using certain privacy features. MW provides several technologies including the ability to make any particular transaction “confidential” (which hides the amount of the transaction) as well as “CoinJoin” (a “coin mixer” that obfuscates the recipient of a transaction). On the one hand, confidentiality of these types is available in the traditional financial system and is desirable in the cryptocurrency space to protect the private information of individuals. On the other, cryptographic confidentiality doesn’t have the backdoor that traditional banking confidentiality does for government regulators, and that is likely to incur the wrath of regulators if adoption is high enough. One certainty is that banks and money services businesses regulated under the Bank Secrecy Act will incur higher compliance risks if they choose to interact with Litecoin after the MW upgrade goes into full effect. Full story.

Gambling company Entain partners with Theta blockchain

Entain, one of the 100 largest companies listed on the London Stock Exchange (LSE: ENT), operates in the gambling industry both online and with physical partnerships around the world. Entain recently launched “Ennovate”, an innovation project to invest in and develop new interactive & VR gambling experiences. As part of this project, Ennovate has partnered with Verizon, BT, and Theta Labs (the company behind the Theta blockchain). Ennovate’s first collaboration with Theta Labs is to develop a white-labelled NFT platform for customers of partypoker, built atop the Theta blockchain. Full story.

Coinbase lists Solana-based project tokens for the first time

Coinbase announced that users would now be able to transfer Solana-based ORCA and FIDA tokens into Coinbase and Coinbase Pro accounts. Once sufficient liquidity is available, trading of certain pairs with fiat and stablecoin currencies will be enabled in phases. ORCA and FIDA are the governance tokens for the Orca and Bonafida decentralized exchanges, respectively. These two tokens are the first tokens from Solana-originating projects to be listed on Coinbase.

Chainlink released a tutorial on how to create dynamic NFTs that depend on external data such as weather data. If you can work fast and launch a series of NFTs that sweat on hot days and shiver on cold days on OpenSea by tomorrow night, you can probably make some quick bucks.

USDC launches on Flow blockchain

Circle is launching support for their USDC stablecoin on the Flow blockchain. Flow is most well-known as the blockchain that hosts the NFT collections “NBA Top Shots”, “NFL All Day”, and “Matrix World”, although it has ambitions to play a much larger role in scalable metaverse applications. With USDC having already launched natively on Ethereum, Algorand, Solana, Stellar, Tron, Hedera, and Avalanche, Flow will be the eighth blockchain to be so honored. Full story.

ConsenSys acquires MyCrypto to enhance MetaMask

ConsenSys, the company behind MetaMask, has acquired MyCrypto with the intention of integrating MyCrypto with MetaMask. MyCrypto provides a dashboard to manage all your Ethereum accounts in one place as well as tools to interact with and deploy contracts and manage ENS domains. It’s easy to see how MetaMask would benefit from these capabilities, especially with Solana’s Phantom wallet having just raised $109 million and vocalizing ambitions of expanding to Ethereum.

Ricky Nave

In college, Ricky studied physics & math, won a prestigious research competition hosted by Oak Ridge National Laboratory, started several small businesses including an energy chewing gum business and a computer repair business, and graduated with a thesis in algebraic topology. After graduating, Ricky attended grad school at Duke University in the mathematics PhD program where he worked on quantum algorithms & non-Euclidean geometry models for flexible proteins. He also worked in cybersecurity at Los Alamos during this time before eventually dropping out of grad school to join a startup working on formal semantic modeling for legal documents. Finally, he left that startup to start his own in the finance & crypto space. Now, he helps entrepreneurs pay less capital gains tax.

Recent Posts