Blockchain Developments: Digital Asset Security, Layer-2, and DeFi

Bittime - Blockchain technology continues to evolve rapidly, characterized by infrastructure improvements, strategic funding initiatives, and cross-platform collaboration. This article highlights some of the latest developments in the sector, covering the period 2-8 May 2024.

Volta Scores Funding for Multi-Signature Digital Asset Security Platform

Volta Circuit, a non-custodial multi-signature platform designed to secure institutional investors' digital assets, raised $4.1 million in seed funding. This funding was led by Fika Ventures and Haven Ventures, with additional support from Soma Capital, Dispersion Capital, and Uphonest Capital. 

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Volta Circuit's main advantage lies in its use of open signature standards, which allows the platform to integrate with various digital wallets. This feature gives users the flexibility to customize rules and permission controls according to their needs. Volta was founded by blockchain industry veterans George Melika (former founder of sFOX) and Daniel Kim (former growth leader of Maple Finance).

Coinbase's Base Drives "Onchain" Future with Incentive Program

Coinbase's Base, a layer-2 network owned by leading crypto exchange Coinbase, announced a new incentive program dubbed "Onchain Summer II". The program aims to encourage adoption and development of the layer-2 ecosystem by offering more than 600 ETH (approximately $2 million) in rewards, grants, and gas credits provided by Base and its ecosystem partners.

Aave Labs Proposes New Architecture for DeFi with Aave V4

Aave Labs, the lead developer behind leading DeFi protocol Aave, submitted a “V4” development proposal as part of a broader grant plan. The development process will involve community feedback and testing, with a scheduled start this quarter and a target for full launch in mid-2024. Aave V4 will be built on an entirely new architecture, prioritizing efficiency and modular design, while minimizing the impact on third-party integrators. Key proposed changes include the introduction of a “unified liquidity layer” and a new oracle design with Chainlink.

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MicroStrategy Reveals Bitcoin-based Decentralized Identity Plan

MicroStrategy, the largest corporate Bitcoin holding company, revealed plans to develop a decentralized identity service using Ordinals technology. The service, called “MicroStrategy Orange,” aims to provide “trustworthy, tamper-proof, and durable” decentralized identity using the Bitcoin blockchain . MicroStrategy Orange utilizes Bitcoin's Ordinals Protocol. As a first step, they have built one application called "Orange For Outlook", which integrates digital signatures into emails to allow recipients to verify the sender's identity.

Also read: Grayscale's Bitcoin ETF (GBTC), Glances at First Positive Opportunities: What Does This Mean for the Bitcoin and ETF Markets?

Other Highlights:

• Polyhedra Network launched Expander, an open-source ZK proof system that it claims is 2x faster than other alternatives, potentially increasing the scalability of blockchain technology.
• Eclipse, an Ethereum layer-2 network powered by the Solana Virtual Machine (SVM), claims to be the first to “break the boundaries of EVM-SVM compatibility” with the deployment of Neon Stack.
• BOB (Build on Bitcoin), a hybrid layer-2 solution that combines the capabilities of Bitcoin and Ethereum, has launched its mainnet, bridging the two blockchains.

• The Graph Foundation announced a $1.2 million "Sunrise Upgrade Program" to support data democratization through community participation.
• Nibiru Chain, a secure smart contract platform, appointed Yura Nam and Nicholas Lo to lead their expansion into the Asian market.
• Resonance, a provider of blockchain audits and smart contracts, raised $1.5 million from Arca, Fabric, and the Blockchain Founders Fund.
• Lukso, an EVM-compatible blockchain designed for the creative economy, is launching a $1 million grant program to encourage decentralized application building.
• Untangled Finance opened the first private credit pool on the Celo network (CELO), facilitating institutional investor participation in the DeFi space.

Conclusion

The updates highlighted above are only a small part of the developments taking place in the dynamic world of blockchain. Business people and investors are advised to keep abreast of the latest developments in this sector to understand the potential and future of this transformative technology.

How to Buy Crypto from Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum asset purchase at Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn Complete Guide How to Buy Crypto on Bittime . 

Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Read also:

Cardano and BCH Unite? Hoskinson Brainstorms Potential Integration

Bitcoin Successfully Exceeds 1 Billion On-Chain Transactions Thanks to Bullish Signals in the Bull Market

ApeCoin DAO Officially Launches NFT Launchpad!

DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.