Aave responds to Dorsey: Plans to Launch the Twitter Alternative of Ethereum
The largest DeFi protocol, Aave, is planning to launch a Twitter alternative, as posted by Stani Kulechov, founder and CEO of the Aave protocol. The move comes as a response to Twitter and Square’s CEO Jack Dorsey, after Square announced plans to expand its business into Bitcoin-focused DeFi.
Stani Kulechov later confirmed his plans to Decrypt following his post. He stated that the new social media platform will allow content creators to monetize their posts, and also to participate in the governance of the network. The new social media platform from Aave will run on the Ethereum blockchain, and is planned for launch this year.
- It would be delightful to be paid for tweeting, however Reddit already exists. Hive and even Steemit also serve this purpose. There is always the saying: “It’s best when the student becomes the master.” In this Aave has no relation to any of its predecessors, so it would be beneficial to offer something more unique in its concept of a new age social network, than simply being a joint copycat.
Polkadot Hosted dApps collaborate to Offer a Solution for the Facebook Diem Blockchain
Two decentralized applications operating on the Polkadot blockchain have joined forces to benefit the upcoming launch of the Facebook Diem blockchain. Pontem Network and Pinknode will collaborate to improve Polkadot’s current node infrastructure to facilitate Facebook Diem’s connection to other public blockchains.
The partnership will also allow developers to test new features on Polkadot prior to deploying them directly to Diem.
Formerly known as Libra, the Facebook-backed Diem project plans to launch its stablecoin later this year. According to an anonymous source familiar with the matter, the project will initially be small scale. Diem stablecoin will be pegged to the U.S dollar and issued together with Silvergate bank.
- Once severely knocked down by international regulators, Diem is now steadily moving forward. It may be at tortoise speed, but who knows what’s at the end of its journey. You only live once, carpe Diem!
Strong Back, Weak Mind! – Malaysian Police Crush Mining Equipment with a Steamroller, while China Envisions a more Sophisticated Method to Ban Mining
A few days ago, a viral video appeared on Twitter, in which a steamroller physically crushed tons of computer hardware. It turned out that Malaysian police had taken the fight directly to crypto miners in the region. The bitcoin ASIC mines were confiscated over an assumed theft of electricity.
In total, 1,069 machines were crushed rather than confiscated, or further used by the Malaysian government or its administrative institutions themselves. The loss of electricity was estimated to total $2.2 million, whereas the mining equipment was worth $1.25 million.
- The damage had been done, so the question arises: why not seize some benefit from the equipment? In such an event, one could look to China. For example, they banned a company called “Coin World,” which had been a Chinese crypto provider. They are now regulating the target.
Mike Tyson Bites into the Crypto Hype Pie
The famous boxer decided to jump onto the crypto hype train, and did so in quite a straightforward manner. Tyson simply asked his Twitter followers whether they prefer BTC or ETH. Currently, the number of comments under the tweet is on the precipice of 12K. Even Michael Saylor himself appeared there, though lately it’s hard to find a tweet under which he’s absent!
NFT news: Cool Cats, Alibaba’s Taobao and NFT Arts
- Cool Cats, a recently launched NFT collection, is probably the fastest rising NFT collection in terms of transactions and valuation. The collection includes 9,999 animated NFT characters. Cool Cats have attributes centered on their body, hat, face and outfit.
- Taobao, an e-commerce website from China’s Alibaba, will include NFT art in its upcoming Maker Festival. The works of iconic Chinese artist Heshan Huang will come in the form of NFT-based real estate. The success of the Taobao Maker Festival in 2016 will spur Chinese artists and entrepreneurs into advertising their work in the exhibition as well as to sell their art on the website.
- Finally, equality! Cats have found their time to shine in a dog-dominated cryptocurrency industry. Keeping in mind the trendiness of the hot NFT sector, crypto dogs may be a little at risk of losing a competition of who wins our hearts… And our investments.