This week’s top 5 stories curated to catch up with the crypto world.
In this article, we have curated a list of the top 5 crypto stories from this week that will help you stay in sync with the crypto ecosystem.
Retail & Tech giants integrate Lightning
Digital payments platform Strike, which is built on Bitcoin’s Lightning network, has officially entered a partnership with e-commerce giant Shopify. Lightning network is a layer 2 Bitcoin solution that allows users and merchants to settle payments instantly with low fees. With this partnership, the U.S. Shopify merchants will be able to receive Bitcoin payments from customers globally in terms of US dollars. The integration offers an alternate choice to traditional card networks such as Visa and MasterCard by leveraging the Lightning Network. The service will be accessible to more than 70 million CashApp users with a Lightning Network-enabled wallet.
Stocks and Crypto app Robinhood has announced plans to integrate the Lightning solution into its technology stack, joining firms such as Twitter, Block and crypto exchange Kraken. Lightning Labs, who is responsible for Lightning network, has upgraded its protocol which aspires to open the network to assets other than Bitcoin, including stablecoins and fiat currencies.
HBAR funds Metaverse
With an aim to tap into the current Metaverse trend, the Hedera Hashgraph (HBAR) foundation has launched a $250 million to attract consumer brands and their users to HBAR’s metaverse ecosystem. The fund aims to build an ecosystem that supports developers and to introduce non-fungible tokens (NFTs) into the developer’s projects. The funding will be directed towards gaming, sports, fashion and entertainment. Hashgraph is one of the few networks in the industry that utilizes a Directed Acyclic Graph structure (a model to optimize data). Unlike a blockchain, Hashgraph’s ledger records transactions via vertices stacked atop each other rather than along a data chain.
Solana is now on OpenSea
Starting this week, NFTs minted on the Solana blockchain are now available to trade on OpenSea, the largest NFT marketplace by volume. OpenSea is majorly based around Ethereum and dominates the NFT space by a huge margin. With the addition of Solana, OpenSea now lists collectibles from the largest NFT ecosystem outside of Ethereum and its sidechain/layer-2 scaling solutions. OpenSea says that it currently supports 165 collections and popular Solana NFT collections such as Solana Monkey Business, DeGods, Degenerate Ape Academy, Aurory, and Shadowy Supercoder.
Mexico bullish on Bitcoin
Samson Mow, the former CSO at Blockstream, has revealed Bitcoin adoption plans of different global jurisdictions this week at the Miami Bitcoin conference. One of them includes Mexico, where the nation’s president has extended an invitation to Mow to discuss the possibility of making Bitcoin a legal tender. The autonomous region of Madeira in Portugal and Caribbean island Roatán are the other two states.
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Disclaimer: This article was authored by Giottus Crypto Exchange as a part of a paid partnership with The News Minute. Crypto-asset or cryptocurrency investments are subject to market risks such as volatility and have no guaranteed returns. Please do your own research before investing and seek independent legal/financial advice if you are unsure about the investments.