Cryptocurrency

The partnership is a key development in Japan’s commitment to Web3 adoption. Astar aims to attract global entertainment and gaming projects to the Japanese market by leveraging the Polygon Chain Development Kit (CDK), an open-source codebase designed for initiating zero-knowledge-powered Layer 2 chains for Ethereum.Polygon co-founder Sandeep Nailwal highlighted Asia’s progressive stance on Web3 adoption. He stated that the partnership would cater to the growing demand for transparent, trustless applications in Japan.Astar Network’s founder, Sota Watanabe, emphasized the potential benefits for enterprises and highlighted Japan’s role as the epicenter of the web3 movement.The Astar zkEVM mechanism is powered by the CDK and can connect seamlessly to a shared ZK bridge, ensuring interoperability. The solution supports the same codebase as Ethereum, allowing developers to leverage existing tools and infrastructure. The core component of zkEVM is ZK-rollups which execute off-chain computations on Layer 2, facilitating quicker and more cost-effective transactions while maintaining Ethereum’s security standards.Japan has shown positive attitudes towards cryptocurrency and blockchain technology. Prime Minister Fumio Kishida emphasized the transformative potential of Web3 at the WebX conference in July. Backed by giants like Coinbase (NASDAQ:COIN) Ventures and Binance Labs, Astar envisions a pivotal role in this transformation.In addition to its collaboration with Polygon Labs, Astar has previously partnered with Sony (NYSE:SONY) on a Web3 incubation program. Out of over 200 applications, 19 projects were chosen to launch on Astar.Polygon Labs launched its zkEVM in March. The technology has been identified as a pivotal area for Ethereum network scaling in recent times. Several blockchain initiatives, including Polygon, Starknet, ZkSync, and Scroll, are in a race to develop a functional ZK-based Layer 2 solution that can inherently support Ethereum applications.Despite the partnership announcement, the Astar price was down by 9.87% trading at $0.05342, and Polygon price noted a slight gain of 0.40% to trade at $0.5155.This article was generated with the support of AI and reviewed by an editor. For more information see our T&C. More

On Sept. 13, the web services provider introduced the MiniPay wallet integration, built on the Celo blockchain, that allows users in Africa to send or receive stablecoins by using their already existing mobile numbers. Continue Reading on Coin Telegraph More

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Introducing MiniPay: Empowerment Through InnovationOpera designed and built MiniPay in collaboration with the Celo Foundation, enabling rapid wallet-to-wallet stablecoin transfers with sub-cent fees using mobile phone numbers and fast onboarding with automatic wallet backup through Google. All, while addressing some of the key barriers allowing for a seamless Web2 to Web3 journey for users looking for a more reliable way to store and send funds using stablecoins. With an easy onboarding process using Google credentials, MiniPay ensures that every user experiences prompt digital asset transfers and a smooth introduction to Web3 transactions. In contrast, many non-custodial wallets require users to be crypto-savvy. The most common reason people lose their digital assets are the complexities around key management – forgetting the secret recovery phrase and passwords. MiniPay’s goal is to make decentralized wallets intuitive so that users of all experience levels can transact. By automatically backing up the user’s keys in their own Google Drive, MiniPay enables users to recover their wallet if they lose their phone or simply reinstall the app. The wallet’s foundation is built on speed, reliability, and financial inclusivity, making it an indispensable tool for users across Africa.Opera brings simplicity to this by integrating with the top partners in the market supporting local payment methods such as Airtime, MPesa, Bank Transfer, or Cards. MiniPay is a non-custodial wallet which means that it doesn’t touch any traditional banking rails and relies on local partners so users can add and withdraw stablecoins from their wallet into their local currency. MiniPay will also support Celo’s FiatConnect standard, which has a growing number of integrated partners and will further improve the Cash-In-Cash-Out experience globally.Opera and Celo: A Vision for Financial Inclusion and EmpowermentAs a key steward of the Celo ecosystem, the Celo Foundation is dedicated to bringing affordable and accessible DeFi to mobile users around the world. This and Opera’s focus on improving access to the digital world are a joint vision the two organizations share. Opera emerged as a tech pioneer in the African market more than 17 years ago, unveiling its unique data-saving technology through Opera Mini. Now one of the most popular apps and well-known brands in Africa, Opera counts over 100 million users across the continent. By integrating MiniPay into the Opera Mini browser, new and existing users will be able to experience fast and transparent transactions on the Celo blockchain, and be introduced to dApps and projects built on the Celo network.”We are thrilled to unveil MiniPay, a cutting-edge partnership between Opera and the Celo Foundation that addresses existing concerns around how payments are made in the region. Users in Nigeria, Kenya, Ghana, and South Africa have indicated2 that there are lingering concerns about high fees, unreliable service uptimes, a lack of transparency around transaction progress, and a lack of access to mobile data. This partnership therefore represents a pivotal moment in the world of digital finance, with the ability to send, receive, and ultimately earn money in a permissionless way,” said Jørgen Arnesen, EVP Mobile at Opera.The Celo blockchain first launched on Earth Day 2020 with the mission of fostering a thriving collective of active builders, developers, founders, and community members committed to blockchain technology’s positive impact. With over 1,000 global projects in more than 150 countries, the Celo blockchain is carbon-negative and mobile-first, with many enterprise and institutional partners including Deutsche Telekom, Telefónica, and many more.Additionally, Celo’s core technical features, on top of which MiniPay is built, include:”Few companies have the global footprint, local insight, and technical capabilities that Opera brings to the Celo ecosystem; I am excited to work even more closely with their team on what I see as a key building block to help realize Celo’s mission at scale,” said Rene Reinsberg, Celo Co-Founder and Celo Foundation President. “By integrating the non-custodial MiniPay wallet directly into the popular Opera Mini browser, new and existing users will access a truly seamless experience with fast, transparent transactions on the Celo blockchain and be introduced to dApps and projects built on Celo that provide meaningful benefits for people in their everyday lives––this is the ‘killer’ use case the Web3 industry has been waiting for.”Building for MiniPayFollowing a vote by the Celo community in July to migrate from a Layer-1 blockchain to an Ethereum Layer-2, the Celo network will undergo technical upgrades to see increased security and scalability while maintaining low gas fees, bringing more real-world use cases to the Ethereum community. This technical migration, led by the Celo community and core contributors, including cLabs, opens the door for even more Ethereum-compatible dApps to be built for MiniPay, reimagining the future of on-chain finance for community advancement and inclusion in the new digital economy. MiniPay will become available to Opera Mini users across Africa within the coming months, first launching in Nigeria. More

First, accumulation. The outflow could be a bullish sign, indicating that investors are hoarding Ethereum for the long haul. However, it is essential to note that Ethereum’s long-term performance has been bearish. This makes the accumulation theory a bit shaky but still plausible. Investors might be seeing this as an opportune moment to stock up on Ethereum at a lower price point.Source: TradingViewAnother angle to consider is portfolio de-risking. Some whales might be liquidating their holdings — not because they have lost faith in the asset, but perhaps to diversify their portfolios. In a volatile market, putting all your eggs in one basket is rarely a good idea.The sudden drop in exchange reserves also opens up a conversation about liquidity. Reduced liquidity could lead to increased volatility, which traders should keep an eye on.While the reasons behind this massive outflow remain speculative, the data do not lie. Ethereum is seeing a significant shift, and whether it is for accumulation or diversification, the impact on the market will be worth monitoring.Is this the calm before a storm, or is it a storm in itself? Only time will tell. But one thing is certain: the Ethereum landscape is shifting, which might lead to an unexpected surge of volatility.This article was originally published on U.Today More

Speaking at a keynote address during the latest edition of the Token2049 conference in Singapore, Nailwal touched on the development of “Polygon 2.0” scaling efforts and the promise of recursive ZK-proof technology to create a seamless interoperable blockchain ecosystem.Continue Reading on Coin Telegraph More

Horizen’s partnership with Tatum, a platform that simplifies blockchain development, enhances EON by simplifying application development.The deal focuses on JavaScript capabilities, RPC (NYSE:RES) nodes, and blockchain data retrieval via API, making it easier for developers to integrate blockchain features into their applications using Tatum’s tools.The partnership aims to simplify the development of blockchain technology by reducing technical complexities. Tatum’s expertise in streamlining blockchain operations can benefit the EON chain.Tatum provides developers with various features, including the option to activate its JavaScript SDK. This tool streamlines app development by offering user-friendly tools and frameworks for incorporating blockchain functionality. Developers can also use Tatum’s cross-chain interaction support, allowing dapps to communicate with other blockchains like Ethereum, BNB Chain, and Polygon. With EON’s introduction to Tatum’s structure, developers can build and launch an RPC Node reliably and cost-effectively. The Blockchain Data Retrieval through API feature provides developers on EON access to necessary blockchain data such as token balance inquiry, transaction monitoring, and interoperability.Rob Viglione, the co-founder of Horizen and CEO of Horizen Labs, said:While Jiri Kobelka, the CEO of Tatum, said:EON, Horizen’s EVM-compatible smart contract platform, is a layer-2 solution that leverages Horizen’s Zendoo protocol, which allows the creation of scalable and interoperable blockchains.The EON Alpha blockchain is now available on its mainnet and public testnet, Gobi. This technology allows developers to create personalized and secure blockchains and applications. Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.This article was originally published on Crypto.news More

Some market watchers believe we are seeing the effects of mass capitulation among bearish traders. The theory goes like this: the recent price plummet that sent Bitcoin below $25,000 and Ethereum under $1,600 triggered a buying frenzy. Retail traders, sensing an opportunity, swooped in to snap up assets at bargain-basement prices.Source: But let’s not get carried away. While the capitulation theory holds some water, it is crucial to remember that the crypto market is a complex beast. Multiple factors, often interlinked, contribute to price movements. So, while retail buying power might be a factor, it is unlikely to be the sole driver of Ethereum’s recent price uptick.What is clear, however, is that the market is in a state of flux. Volatility is the name of the game, and Ethereum is no exception. Whether this bounce is a temporary blip or the start of a more sustained recovery remains to be seen. But for now, at least, Ethereum investors have a little something to smile about.Why does the $0.5 level matter so much? It is not just about the number itself but the sentiment it carries. When XRP held above this level, it was a sign of relative stability and investor confidence. Now that it has been breached, the market’s mood has shifted, and not for the better. The RSI (Relative Strength Index) is also in oversold territory, adding another layer of concern.What is the next line of defense? If we look back at the price action in June and April of this year, the $0.45 level stands out as a robust support point. During those periods, the asset showed strong consolidation around this price, making it a likely candidate for the next battleground.The breach of the $0.5 level could serve as a catalyst for further downward movement, especially if the market fails to recover swiftly. The next few trading sessions will be crucial in determining whether XRP can regain its footing or if it will continue its descent into more precarious territory.One of the main reasons could be the increased activity of whales, which suggests a possible accumulation phase. Whales often have the foresight and resources to buy low and sell high, and their heightened activity could be a precursor to a future price uptick.Secondly, this volume explosion is not happening in a vacuum; it coincides with a market-wide price drop. This juxtaposition could imply that savvy traders are seizing the opportunity to buy the dip, anticipating a rebound. The surge in trading volume, especially during a market downturn, could be a bullish indicator disguised as a bearish trend.This article was originally published on U.Today More