5 May

Under the order, the state will create a ‘transparent and consistent business environment‘ for blockchain-related companies, including crypto asset projects and those of related financial technologies.

California will also collect stakeholder feedback to create crypto asset regulations in conjunction with federal authorities, assess the use of blockchain technologies for state and public institutions, and create paths for blockchain-related research and work development programs.

California is a global hub of innovation, and we’re setting up the state for success with this emerging technology – spurring responsible innovation, protecting consumers and leveraging this technology for the public good.”

The Fairfax County Police Pension System’s chief investment officer Katherine Molnar said on Tuesday at the Milken Institute Global Conference that the system aims to fund two new crypto-focused hedge fund managers in the next three weeks. The next few days will see a decision made, which, if approved, would be the first time pension fund money was used in DeFi.

Molnar likened yield farming to a fixed-income replacement or an opportunity for a higher return than rate-sensitive assets.

Fairfax County is no stranger to the blockchain and cryptocurrency sector. In 2019, it began investing pension fund cash in cryptocurrencies, with projected returns of 9%. Fairfax’s crypto assets account for approximately 8% of its portfolio in total.”

“In a widely anticipated move, the Federal Reserve raised the official U.S. interest rate by half a percentage point, while saying it will reduce the size of its balance sheet by $47.5 billion a month for three months and going up to $95 billion a month starting in September.

During a press conference following the decision, Fed chair Jerome Powell also said that ‘50 basis points should be on the table for the next couple meetings,’ and that a 75 basis-point rate hike is not something the committee is considering right now.

The price of bitcoin (BTC) rose 2.77% after Powell’s remarks, from $38,716 to $39,790 at press time.”

See Also: Bitcoin’s ‘Mayer Multiple’ Nears Point of Undervaluation Ahead of Fed

While marketplaces force users to be “beholden to smart contract standards,” SmartMint allows users to customize their smart contracts and own them. The beta version seeks to solve the “intrinsic issue” of smart contract standards in NFT minting.

SmartMint allows users to upload an image, add metadata properties and select a chain to mint on, much like the minting experience on a custodial exchange. But in the background SmartMint deploys a smart contract owned by the user, a major difference.

SmartMint is free to use, despite gas fees associated with minting. [However], SmartMint will receive 2.5% fee on the first sale of the NFT and 1% fee on secondary sales.”

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“Buterin made the latest comments in response to a Twitter post from the “Bankless” podcast host Ryan Sean Adams, who shared a screenshot of the average transaction fees for eight eight Ethereum layer-2 platforms.

The only layer-2 to meet Buterin’s desired transaction fee under $0.05 is the Metis Network at $0.02, however, a token swap on the platform still costs $0.14. Fees sharply increase from there, at $0.12 per transaction on Loopring and going all the way to $1.98 per transaction on the Aztec Network.

Needs to get under $0.05 to be truly acceptable imo. But we’re definitely making great progress, and even proto-danksharding may be enough to get us there for a while! That was the goal in 2017, and it’s still the goal now. It’s precisely why we’re spending so much time working on scalability.

Buterin’s affordable transaction goal is a long-held one that he first stated during an interview in 2017 that ‘the internet of money should not cost more than 5 cents per transaction.’

“The Filecoin Foundation for the Decentralized Web (FFWD) is teaming up with nonprofit news platform MuckRock to bridge the gap between newsrooms and those interested in public documents. FFWD and MuckRock are aiming to integrate decentralized storage technology for DocumentCloud – a platform currently hosting over 8 million verified documents.

It will allow DocumentCloud to become a bridge for newsrooms, non-profits, researchers, and more to move key public interest documents to Filecoin. Decentralized storage will enable more long-term and secure storage for important documents.”

“Random number generators are not new, but the QRNG system is the first of its kind to generate a random number using quantum mechanics. This provides the first genuinely random number mechanism beyond the pseudo-mathematical systems currently used that may be biased or repeated.

API3’s QRNG measures random quantum fluctuations in phase and amplitude of an electromagnetic field in a vacuum to guarantee unpredictable randomness and generate the numbers. The system is currently available as an application programming interface (API) for 13 blockchains.

We measure these fluctuations and convert them into random numbers which are then served to the AWS cloud for distribution via an API gateway.

Web3 and metaverse gaming could be one of the biggest beneficiaries of these kinds of systems, as games continuously rely on a degree of randomness and unpredictability to keep players engaged. People can use random numbers for whatever application they want, from the generation of unique nonfungible tokens (NFTs) and artwork to automated decision making.”