Author: Hassan Shittu

A Layer 1 blockchain is the base network that maintains its own ledger and consensus rules. Bitcoin and Ethereum are Layer 1 networks: they validate transactions, decide which history is authoritative and provide the settlement layer on which other systems can build. The label is useful only when it explains architecture. It does not mean that every Layer 1 is equally decentralized, secure or scalable, and it should not be confused with a ranking. A fast network can depend on demanding hardware or concentrated validators; a slower one may prioritize easier independent verification. What a Layer 1 actually does A…

The past couple of days have been very exciting for the entire cryptocurrency industry and Bitcoin is no exception. BTC soared towards $25K today on news of slowing down inflation in the US. The question is if this will be enough for the critical resistance level to finally fall.

California’s Department of Financial Protection and Innovation (DFPI) has now issued a desist and refrain order against Celsius. As such, the bankrupt crypto lender will not be to continue the sale and marketing of securities in the state of California.

Offchain Labs, the developer of the Ethereum scaling solution Arbitrum, today announced the launch of a new blockchain named Nova for all end-users and developers. Arbitrum Nova, the second chain launched in the Arbitrum ecosystem, is designed to serve as the premier solution for Web3 gaming and social applications.

In June, Coinbase shared an earnings report that worried investors, citing market conditions as the primary reason behind the drop in figures.

Targeted investments in the crypto industry reached $30.3 billion in the first half of the year, more than the whole year combined in 2021, according to Messari’s H1 2022 Fundraising Report. It shows that the market decline in the first six months has not shaken investors’ confidence in blockchain technology and cryptocurrencies.

Coca-Cola marked International Friendship Day 2022 with a digital collectible sent to wallets that already held one of the brand’s earlier collectibles. The July 30 drop ran on Polygon and was designed as a loyalty campaign, not as a public sale or an investment product.

Crypto lender Voyager Digital Holdings says it has received several “higher and better” buyouts offers than AlamedaFTX in July, contrary to the investment firm’s continued public statements. The U.S. bankruptcy court has granted Voyager Digital approval to return $270 million to its customers, driving the embattled firm’s OTC share price higher on the day.

According to Reuters, India’s financial crime-fighting agency said on Friday that it has frozen the assets of WazirX, owned by the world’s largest digital currency exchange Binance, as part of its investigation into a suspected violation of foreign exchange regulations.

According to a Reuters report on Wednesday, former Coinbase (COIN) product manager Ishan Wahi has pleaded not guilty to federal charges of insider trading.