60 million NFTs could be minted in a single transaction: StarkWare founder
The StarkWare founder announced the launch of its new Recursive validity proof technology on Aug. 7 in Seoul. Zero-knowledge (ZK) rollup tech company StarkWare founder Eli Ben-Sasson says its new Recursive validity proofs could theoretically roll up as many as 60 million transactions into one on the Ethereum blockchain.The zkSTARK co-inventor made the comments to Cointelegraph during ETH Seoul on Aug. 7 after announcing the start of production of StarkWare’s new Recursive validity proof technology during a presentation. Speaking to Cointelegraph, Ben-Sasson said that recursive validity....
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Scalability is a hot investment as VCs and retail pour into rollup and sidechain solutions As Ethereum gas fees soar and the demand for scalability reaches fever pitch, layer-two scaling solution has announced today a $75 million Series B funding round led by Paradigm, Three Arrows, Alameda Research, Pantera Capital, and Sequoia, among others. The team announced the raise in a Tweet:Announcing our $75M Series B, led by @paradigm, with new investors (Three Arrows & @AlamedaResearch), and old ones too (@PanteraCapital, @sequoia, @foundersfund, @DCVC, @Wing_VC).— StarkWare....
Ethereum layer-2 developer StarkWare raises a further $100 million despite a gloomy outlook for the cryptocurrency space. Ethereum (ETH) layer-2 developer StarkWare has raised a further $100 million in its latest fundraising round despite the prevailing downturn in cryptocurrency markets.StarkWare’s series D fundraising round sees the firm’s valuation up to $8 billion, marking a four-fold increase in value just six months after its Series C round in November 2021. Tech investment firm Greenoaks Capital led the latest fundraising round in addition to private equity firm Coatue, Tiger Global....
The tweet attracted wild reactions from the community with several accusing the co-founder of playing the blame game while his whereabouts are unknown. Su Zhu, co-founder of Singapore-based crypto venture capital firm Three Arrows Capital (3AC), returned to Twitter after nearly a month of inactivity. In another cryptic tweet, he blamed liquidators for baiting them with respect to StarkWare tokens.The tweet with attached mail from legal counsel claimed that Starkware equity had a token warrant that expired on July 5 and that the liquidator didn’t exercise the warrant, resulting in the loss....
Meanwhile, the minting volume of nonfungible tokens have been declining steadily. According to data provided by Polygon and Dune Analytics, the trading volume of Reddit nonfungible token (NFT) avatars has eclipsed $1.5 million in the past 24 hours. The increase represents over one-third of the collection’s cumulative trading volume of $4.1 million since launch. At the same time, the daily sales volume of Reddit NFTs also witnessed a new all-time high of 3,780 digital collectibles changing hands.Reddit avatars are created by independent artists and are minted as NFTs on the Polygon....
With the introduction of platforms like Solana, buyers may now purchase NFTs for a low transaction charge and with minimal congestion. The burgeoning popularity of nonfungible tokens (NFTs) has led to issues like exorbitant transaction fees and congestion in the prevalent Ethereum-based ecosystem. The fee factor serves as a major deterrent to anyone wanting to execute transactions on the blockchain.A report published by Reuters revealed that the NFT sales volume was $24.9 billion in 2021, considerably more than the $94.9 million in 2020. The number of wallets trading in NFTs jumped to....