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Join Our Telegram channel to stay up to date on breaking news coverage Leading US-based cryptocurrency exchange platform Coinbase has launched a bridge for their ‘Base’ layer-2 scaling solution for Ethereum (ETH). The Base mainnet is set to go public on August 9. A Bridge to Crypto Powered by the Optimism (OP) blockchain scaling solution, Coinbase’s Base network has made a user interface (UI) release for its official bridge. According to an August 3 announcement, the bridge will enable end users to sign up for the first time without requiring developer tools. Base is now open for bridging Base opens for everything on August 9 We’re helping throw an on chain festival to celebrate ɪᴛ'ꜱ ᴏɴᴄʜᴀɪɴ ꜱᴜᴍᴍᴇʀ 🟡https://t.co/p8KTcnkbbx — Base 🛡️ (@BuildOnBase) August 3, 2023 “Our next step begins today: Base is now open for bridging ...

The two protocols will implement a standard for issuers to control the "canonical" minting of tokens, helping to reduce losses from unofficial bridges. Connext cross-chain bridging protocol has announced a new token standard to reduce losses from bridge hacks. According to a July 24 announcement, the new “xERC-20” standard allows token-issuers to maintain a list of official bridges and control how many tokens can be minted by each. In addition to Connext, DeFi platform Alchemix Finance will implement xERC-20 tokens, the announcement stated. Connext Alchemix Today, Connext is announcing support of the xERC20 standard and onboarding projects into safely bringing their token s to every chain . As our flagship user, we've been working with @AlchemixFi to bring $alUSD, $alETH, and $ALCX to @arbitrum and @optimismFND. https://t.co/S2tBLpuuqe — Arjun | xERC20 arc (@arjunbhuptani) July 24, 2023 The new token standard was originally put forth on July 7 as Ethereum Impro...

A public-private partnership with blockchain analytics firm Chainalysis has played a key role in helping the Internal Revenue Service solve cryptocurrency-related crimes. Block chain Analysis has been key in helping the United States Internal Revenue Service (IRS) seize an estimated $10 billion worth of crypto currency since it began investigating a broad body of crimes involving digital assets. This was a key point raised by IRS Criminal Investigations (IRS-CI) Chief Jim Lee in a wide-ranging, exclusive interview with Cointelegraph in Amsterdam. Lee was among a variety of delegates from public and private institutions sharing knowledge and insights at blockchain analytics firm Chainalysis’ Links conference held in the Netherlands. Lee, alongwith with a cohort from the IRS-CI, gave an inside look at how the enforcement agency has tackled the use of cryptocurrency and digital assets in a wide variety of financial crimes that fall under its purview. Hacks of prominent exchanges, De...

Cosmos governance has approved the v9-Lambda upgrade, including interchain security and possibly kicking off a “virtuous real yield cycle.” The Cosmos community has approved a vote to add “replicated security (RS)” to its chain, with 99.99% of votes in favor of the motion. The much-awaited upgrade is set to go live on March 15, 2023, with the v9-Lamba upgrade.  RS is the first version of Cosmos’s Inter chain Security (ICS) feature, allowing block chain s in the Cosmos ecosystem to share validation resources for improved security . Only protocols approved by Cosmos governance will be added as consumer chains in the upcoming update. Eight consumer chains are potential candidates for selection, including Neutron, PolymerDAO, Duality, Stride, Simply Staking, FairBlock and Comdex. Cosmos’s interchain security could start a virtuous real yield cycle The Replicated Security feature will distribute up to 25% of the consumer chain fees to Cosmos Hub stakers. The protocols can also allocate a ...

While the second-largest crypto asset by market capitalization, ethereum, has risen 27% against the U.S. dollar in the last two weeks, the network’s average and median-sized gas fees have increased by more than 50%. On the first day of 2023, the average fee to spend ether was around $2.93 per transfer, but today the average cost is 54% higher at $4.52 per transfer. Rise in Ethereum Value Leads to Increased Onchain Transaction Costs Sending ethereum (ETH) is becoming more costly as the crypto asset’s value has risen greatly over the last 14 days. At the time of writing, ether is trading at $1,542 per unit, after reaching a high of $1,606 per unit during the same 24-hour period on Jan. 18, 2023. As ethereum’s value in U.S. dollars has increased, the cost to move ether and the myriad of ERC20 tokens has also risen. Data from bitinfocharts.com indicates that on Jan. 1, 2023, the average ether gas fee was $2.93 per transfer. 18 days later, the average fee to send ethe...