Welcome back, crypto investors and enthusiasts. The world is definitely getting a bit crazier. However, we must push forward and make the best out of everything. We also know that you have been glued to what is happening on the worldwide stage, thus you might have missed some crypto news. But don’t fret, the Cryptonewsbytes crew has compiled the hottest news and summarized it for you. This is your weekly dose of Altcoins at a Glance.
Stellar and Certora Announces Security Support for Soroban
- Stellar (XLM) is one of the top altcoins. Soroban is the blockchain’s smart contract platform designed to be sensible, scalable, and developer-friendly.
- Certora is a company that focuses on web3 and blockchain technology. It offers a product called the Certora Prover, which is a tool that helps developers write secure and reliable smart contracts
- Stellar and Certora have partnered to guarantee security support for Soroban.
- Certora will help identify and prevent vulnerabilities in the Soroban code before they are deployed on the network.
- Soroban is currently live on testnet.
Solana Game Surpassed Polygon and other Altcoins Daily Transaction Count
- Sage Labs is a web3 space economy simulation game built on top of the Solana (SOL) blockchain.
- The game was launched last month, with over 16 million total transactions to date.
- It has recorded about 2.3 million transactions in a single day – surpassing the entire Polygon (MATIC) network.
- Being a blockchain game, players need to sign in using their wallets. Each transaction has a corresponding gas fee.
Account Labs Raised $7.7 Million, Launches Unipass – A New Wallet for Your Altcoins
- Account Labs, a Singaporean-based Web3 wallet provider, has secured $7.7 million from investors that include Amber Group and MixMarvel DAO.
- The company also announced the launch of Unipass – which according to Account Labs is not just a wallet. “It is a comprehensive self-custody stablecoin payment solution tailored for freelancers, gig workers, and business owners”
- Account Labs recognizes the fast crypto adoption rate in the Southeast Asian Region and is planning to test the project in the Philippines this October.
- Unipass has a feature that has the potential to reduce gas fees. It allows users to pay transactions using stablecoins like USDT or USDC, instead of the native token of the transacting network.
Star Arena Recovered 90% of Hacked Altcoins
- Stars Arena, an on-chain social media platform on the AVAX network, was hacked for almost $2.9 million last October 7.
- Fortunately, the hacker agreed to return 90% of the total amount in exchange for a 10% bounty and 1000 AVAX.
- In the end, Star Arena was able to recover a total of 239,493 AVAX out of the 266.104 stolen.
Japan to Launch Digital Currency, DCJPY
- The Japanese digital Yen or DCJYP is a digital currency that is backed by the Yen.
- It is planned to be introduced in July 2024
- It is supported by a consortium of banks, companies, and organizations within the country.
- The project is led by DeCurret Holdings, a digital and electronic payments company. The white paper was published in October 2021.
- DCJYP will have two blockchain networks: the financial zone and the business zone.
- The financial zone will enable banks to mint deposits as digital currencies.
- While the business zone will allow transactions, and the issuance of various tokens.
- DCJYP is designed to be interoperable with multiple blockchain networks like Ethereum, Solana, and Polkadot.
- The main issuer will be Aozora Bank
- However, the DCJYP is not Japan’s official central bank digital currency (CBDC). It is not issued by the country’s central bank but is supported by private Japanese firms.
We hope that you enjoyed the last five minutes with us. Enjoy the coming week.
Subscribe To Our Newsletter
Join our mailing list to receive the latest news and updates from our team.