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From an ASIC-heated swimming pool to a handmade soundproof container, these die-hards found ways to make home mining feasible, if not quite profitable.

Ukraine attracted over $225 million from supporters around the world, while Russian military fundraisers only scored several millions.

The team will examine required corporate status, taxation other aspects of DAOs to “create legal certainty” and reduce risks, the government has said.

The latest price moves in bitcoin (BTC) and crypto markets in context for July 27, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.

Palm Network has announced its plan to transition to a proof-of-stake sidechain within the Polygon ecosystem using the Supernets software stack while maintaining its existing Layer 1 blockchain. The launch of the Supernets chain is set for next week.

The expansion to Polygon is planned in two stages, Palm Foundation said. During the initial phase, Palm Network aims to implement a proof-of-stake sidechain by Aug 1. Following this, the next phase will see the network migrate to a Layer 2 chain — also based on Supernets — that will utilize zero-knowledge rollups, slated for the subsequent year.

This strategic shift — done in collaboration with Polygon Labs — is rooted in the network’s objective to tackle scalability issues and more effectively cater to its user demographic in the creators and gaming niches, the Palm Foundation said.

Leveraging Polygon Supernets

Supernets, previously Polygon Edge, is a Polygon platform that lets teams create their blockchain networks using a software development kit. Palm has joined other projects — like Immutable, Aavegotchi, and IDEX — working on Supernets for their blockchains in the Polygon ecosystem. 

“The high speed, security, and scalability that Polygon Supernets provide are pivotal as we progress towards becoming a zkEVM multiprover,” remarked Andrea Lerdo, executive director of the Palm Foundation.

The transition, the foundation said, is anticipated to boost interoperability with Ethereum and the broader Polygon 2.0, a planned ecosystem of multiple Layer 2 chains.

Palm Network has previously been used by entities like the Gary Vaynerchuk-backed Candy Digital and Ethereum developer Consensys for issuing digital collectibles. 

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Eco Inc., the team behind the decentralized currency project Eco Protocol, unveiled a crypto wallet named Beam that offers users the ability to make payments on Ethereum Layer 2 networks: Optimism and Coinbase’s Base.

Beam incorporates features like account abstraction (EIP-4884), enabling the wallet to function as smart contracts and support a range of advanced features like multi-factor authentication and wallet social recovery.

“We’re bridging the gap between conventional payments and cryptocurrency, fulfilling an industry expectation that has persisted for over a decade,” commented Andy Bromberg, CEO of Eco Inc., the a16z-backed primary entity leading the development of the Eco Protocol.

Elaborating on Beam’s capabilities, Bromberg, who took on Eco Inc.’s CEO role in 2020 after founding the cryptocurrency listing platform CoinList in 2017, remarked, “With Beam, users can access the intrinsic advantages of cryptocurrency—such as censorship resistance, self-custody, and privacy—integrated with the user-friendly interface of Web2 peer-to-peer payment systems, available globally.”

Till date, Eco Inc. has secured over $90 million in multiple funding rounds to develop Eco Protocol from notable investors such as a16z, Lightspeed Venture Partners, and Pantera Capital.

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

In partnership with Consensys and Polygon Labs, the Palm Network will evolve to facilitate more efficient NFT minting and trading for its 1.7 million registered wallet addresses.

Enclave’s Fully Encrypted Exchange, or FEX, creates a confidential trading environment rather like a dark pool in traditional markets.

Where most wallets require signing up, performing a degree of KYC checks, Beam users can send payments simply by using a link to a QR code. Thus it is aiming to create the closest possible equivalent to using crypto like cash.

The DEX, initially launched on BNB Chain, is now available on five blockchains.