Recently, Bitcoin underwent a sharp correction, but after a rapid recovery, it is trading at $ 32.550. In the middle, the second-largest cryptocurrency Ethereum is trading close to $2,000. The market is witnessing mixed trading sessions at the time of writing. We have compiled some interesting altcoin news for you in our article, let’s examine it together…
1 – Coinbase announces plans to integrate the network of popular altcoin Polygon
Coinbase has announced plans to integrate the well-known altcoin Polygon’s network into its portable app and extension. With this integration, users can enjoy higher speed of Polygon with lower process costs. It will also help users access dApps in Polygon.
Specifically, users can connect their Coinbase wallets to the Polygon network by navigating to the settings option in a few clicks. Additionally, users can use the Polygon bridge to send Ethereum tokens such as USDC, DAI, UNI and more from the Ethereum mainnet to the Polygon network. Additionally, the team has plans to integrate different Tier 2 networks into both portable and web wallets in the near future.
2 – Uniswap v3 announces Optimistic Ethereum Layer 2 scaling begins in alpha
Renowned altcoin project Uniswap v3 has announced that Optimistic Ethereum Layer 2 scaling begins in alpha. According to the blog, this alpha launch is a finite version of the full system. This will help developers quickly fix any problems that may arise.
As stated, the platform will support an initial throughput of 0.6 transactions per second during this alpha cycle. However, processes on OΞ are confirmed instantly to avoid pending or stuck swaps. The group also announced that OΞ will offer ten times lower process costs. But increased demand could push gas costs even higher. Initially, only finite assets such as ETH, USDT, WBTC, DAI and SNX were released, but more will be added in the near future.
3 – CoinGecko collaborated with Big Time for an NFT draw
CoinGecko has teamed up with Big Time for an NFT draw. As mentioned, ten lucky winners can win a special Big Time-themed NFT by participating in this candy competition. To qualify for this gift, the user must purchase a CoinGecko candy code coupon.
The group also asked users to answer a few easy questions to increase their winnings. Big Time is a gaming platform dedicated to creating online adventures in the market and time. Specifically, this race starts on 14 July 2021 and ends on 26 July 2021.
4 – Altcoin project introduces DAFI Protocol local bridge
Altcoin project DAFI Protocol reveals the development of its local bridge. As mentioned, this DAFI bridge will initially work with Ethereum, Polygon, and Binance Smart Chain. Next, DAFI’s partners will use this bridge as a service as they adopt smart synthetic dTokens. Also, this will work to protect the supply/demand of DAFI tokens.
DAFI Protocol addresses various challenges faced by Blockchain networks and aims to solve the shortage of oversupply of tokens. Ultimately, this will enable the community to use ERC-20 DAFI on other high speed and low cost networks. In addition, different projects use DAFI Protocol to generate their own dTokens, while DAFI protects these tokens from hyperinflation for the long-term stability of the network. Therefore, this DAFI bridge launch will attract new users and expand its adoption.
5 – Lossless unveils wrapped tokens to protect DeFi ecosystem
In today’s latest altcoin news is Lossless announcing the release of its packaged tokens to protect the DeFi ecosystem. As mentioned, these wrapped tokens run on a random ERC-20 token and offer a raid enclosure through a Lossless defense code. Impressively, there is no random upfront cost and a fixed percentage price is charged just for a recorded hack.
Alternatively, this code creates an L-token version with fixed existing or newly launched tokens. To engage in any unethical random activity, hackers must open the wrapped tokens before exchanging them for another asset. White hat hackers and bots are looking for a random hack that affects L-tokens. Assets of this type can then be frozen and returned if lousy play is proven. Additionally, these features will increase the faith of token holders and projects that will play a vital role in global DeFi adoption.
6- Cardano reaches another valuable milestone for smart contracts
According to an announcement by IOHK, Cardano has officially entered the Alonzo White tier of smart contract offering. In this tier, it will significantly increase the number of testers and add more functionality.