Blockchain
Countdown to Bitcoin Taproot upgrade: Will the node need to be updated?
The Bitcoin Taproot upgrade is in the countdown, and, as expected, it could be activated on November 13. The nodes represent the users on Bitcoin Network and protocol.
*Update: We have created a new article with information about the Taproot implementation, which you can see here: “The Bitcoin Taproot update is now live and it will bring significant changes “
It just takes roughly 800 blocks so Taproot can be added to the chain, which must happen in fewer than six days for Taproot to be active in Bitcoin.
The most crucial Bitcoin network and software upgrade of the previous five years is arriving in a relatively short time. Yet, the fraction of participating nodes still hasn’t been updated to accept it.
According to the website given by the developer Luke Dash Jr. concerning the node count, in which only 50 percent of them already support the new version, The client Bitcoin Core 0.22 is the first to offer support to Taproot. Currently.
The dangers of a fork and split of the Bitcoin network are unlikely because of the Bitcoin Taproot Upgrade
According to Taproot, the activation date, which might be between November 13 and November 14 according to Taproot.watch, disturbs several developers and other members of the Bitcoin community.
The main reason is whether the difference between the nodes that activate Taproot and no could cause or encourage a happening division chain ( chain split ). The quick answer is “No,” albeit there are a few flats.
As bitcoiner Nicolas Bourbonni explained that for a chain split to occur, the nodes must amass enough processing power to construct a blockchain that is longer than the existing one. The miners’ evidence of labor accomplishes this.
Given their support for Taproot earlier this year, Bourbonni does not believe miners would wish to run alternative software and reject blocks that contain Taproot-type transactions.
On the other hand, Taproot is incorporated in Bitcoin as a soft fork, implying that this upgrade is compatible with prior versions of the Bitcoin software and the blockchain’s history.
Therefore, an outdated node does not have the power to reject a version of the chain that includes blocks with transactions of the Taproot format, without this leaving it outside the Bitcoin consensus.
Bourbonni noted that nodes that are not updated would not receive transactions from Taproot, such as those that a user could send from their wallet.
Still, these nodes can accept and relay the blocks that include these transactions and are added to the chain by the miners.
For his part, Luke Dash Jr. explained that chain divisions should not be confused with a strong fork since this is the particular version of different software and is incompatible with the predominant version in the most significant number of nodes.
An old node is a forced fork concerning each soft fork [the other nodes].
So if we have a lot of old nodes, the rules are not applied consistently, and pressure is created from the [Bitcoin] economic sector to support a hard fork [different version of the software] to remove Taproot, said Luke Dash Jr., a Bitcoin developer.
Dash also noted that the emergence and acceptance of an alternative software or hard fork are unlikely. Still, if a Bitcoin economic sector decides not to upgrade to Taproot, it could incentivize the creation of two different chains ( chain split ).
CryptoDeFinance recently reported that some nodes have been having problems with Taproot transactions in tests carried out by developers.
Therefore, Bitcoin users have been suggested to take certain precautions regarding this upcoming update.
Learn a bit more about the Taproot Upgrade
Blockchain
Fintopio Launches First CeDeFi Wallet Enabling Crypto Transfers via Telegram Usernames
Fintopio, the leading Web3 wallet co-founded by former Binance executive Steve Milton, has officially launched its CeFi services, making it the only CeDeFi wallet in the market accessible on Telegram, iOS, Android, and Web. With its new CeFi offerings, Fintopio merges centralized and decentralized finance, providing a seamless platform that caters to a diverse global audience eager to access digital assets as simply as sending a message.
With Fintopio’s CeFi wallet, users experience simplified, frictionless transactions with key features like username-based transfers, Zero-Fee transfers, and innovative tools such as Vouchers for bulk crypto transfers and gifting. This milestone enhances Fintopio’s existing Web3 ecosystem, which has grown rapidly since its beta launch in April 2024, attracting over 2 million monthly active users.
Simplifying Crypto with Telegram-Based Transfers
Fintopio’s strategic integration with Telegram leverages the platform’s 950 million-strong user base, positioning Fintopio as the go-to wallet for crypto users seeking accessibility and convenience. By enabling crypto transactions through Telegram usernames, Fintopio eliminates complex wallet addresses, empowering users to conduct transactions with a familiar interface.
“We wanted to create a wallet that makes crypto as accessible as texting,” explained Steve Milton, Co-founder & CEO of Fintopio. “With our CeFi services, we’re moving closer to this goal, giving users a way to manage and transfer digital assets without the usual hurdles of traditional wallets.”
Fintopio’s intuitive design has been instrumental in driving adoption within emerging markets, especially in Africa and Asia, where the need for accessible financial tools has spurred millions to explore digital finance. By offering seamless transactions and secure asset management in a single, user-friendly platform, Fintopio makes Web3 accessible to users across various levels of crypto expertise.
Blending CeFi and DeFi in One Wallet
The launch of Fintopio’s CeFi wallet aligns with its mission to bridge centralized and decentralized finance in a single, cohesive ecosystem, making it a standout choice for users looking to engage with both worlds. Already popular on Telegram for its non-custodial DeFi wallet, which grants users full control over their private keys, Fintopio now offers the added option of a custodial wallet through its CeFi services, catering to users who prioritize the enhanced security and platform custody.
Additionally, Fintopio’s CeDeFi model introduces Zero-Fee transfers within its CeFi wallet, allowing Telegram users to transfer funds using just usernames, lowering barriers to entry and making daily transactions cost-effective and seamless. Available as a Telegram mini app, and natively on iOS and Android, Fintopio is uniquely positioned as the only CeDeFi wallet live across multiple platforms, reinforcing its commitment to making crypto accessible for everyone.
Vouchers: The Ultimate Tool for Bulk Crypto Transfers
The CeFi wallet also introduces a new feature called Vouchers, which serve as customizable tokens for transferring crypto on a large scale. Vouchers allow users to create tokens representing funds from verified accounts that can be securely shared with others. Designed for mass distributions, giveaways, and gifting, Fintopio’s Vouchers include robust security features such as password protection and anonymous transfer options.
Fintopio is currently available as a Telegram mini app and has recently launched its iOS and Android apps, which will soon reach a broader audience beyond the Telegram community. This multi-platform availability reinforces Fintopio’s commitment to making crypto accessible for everyone, positioning it as the only CeDeFi wallet live on the market ro do so.
Engaging Users with Web3 Ecosystem and HOLD Game
Beyond the basic wallet functions, Fintopio has developed an extensive Web3 ecosystem aimed at engaging users. Through the addition of HOLD, a tap-to-earn game built within the wallet, Fintopio has created a rewards economy for a gamified crypto experience. This unique feature allows users to earn future HOLD tokens, which will serve as part of Fintopio’s expanding payment utilities on both CeFi and DeFi functions.
Expanding to CeFi and Future Offerings
Fintopio’s CeFi wallet marks an important step in its roadmap as the company continues to innovate. Future plans include enhanced functionality for the HOLD game, P2P trading, and on-ramp/off-ramp solutions, allowing users to bridge the gap between traditional and digital finance seamlessly. By continuously expanding its offerings, Fintopio is set to become one of the most versatile Web3 wallets of 2024, catering to the needs of a diverse, growing crypto community.
About Fintopio
Fintopio is a Web3 wallet ushering in the New Payment Era on Telegram and Beyond. Founded by a team of blockchain industry veterans, it stands as the first CeDeFi wallet in the market available on iOS, Android, Telegram Mini App, and Web.
For more information on Fintopio, visit the official website and follow the official Fintopio community today.
Blockchain
Matthias Mende Honored as Binance’s ‘Creator of the Year’ at Binance Blockchain Week Dubai
Founder of Bonuz Market and Co-founder of Dubai Blockchain Center Recognized for Outstanding Contributions to the Binance Community
Matthias Mende, the founder of Bonuz Market and co-founder of the Dubai Blockchain Center, has been awarded the prestigious ‘Creator of the Year’ award by Binance, the world’s leading cryptocurrency exchange. The accolade was presented by Binance Co-founder He Yi and Chief Marketing Officer Rachel Conlan during the Binance Blockchain Week held in Dubai on October 30th and 31st. Binance is the world’s leading exchange, with over 238 Million Users.
The award, voted by the global community of Binance users on Binance Square, acknowledges Mende’s exceptional contributions to the blockchain community and crypto industry. His innovative work with Bonuz Market, a pioneering ecosystem that launched the social smart wallet on October 15th, has solidified not just his reputation as a key opinion leader but also as a builder.
“Receiving this award from Binance is a profound honor,” said Matthias Mende. “Happy that it validates my hard work and dedication invested to the Blockchain Ecosystem. Sharing information and educating is one of my missions, and building my consumer app also reinforces to drive more newcomers into our innovative crypto space. This recognition strengthens my obsession to continue building platforms that empower humans and enhance their daily experiences, as well as redefining community and brand engagement.”
He Yi, Binance Co-founder, remarked, “All winning Key Opinion Leaders demonstrated great value with the knowledgeable content shared on Binance Square. Their contributions have advanced the community, and we’re thrilled to recognize the winning Binance Square Creator’s achievements.”
The award ceremony was one of the highlights of Binance Blockchain Week, an event held in the Coca-Cola Arena in Dubai that convened industry leaders, leading innovators, and enthusiasts from around the world to discuss the future of blockchain technology. The biggest highlight was Chengpeng Zhao’s first public appearance since his release last month. The former CEO served a four-month sentence following his guilty plea and has returned to the United Arab Emirates.
About Matthias Mende
Matthias Mende is a seasoned entrepreneur and blockchain evangelist with a passion for fostering innovation and building technology that adds value to daily human life. As the founder of Bonuz Market, the co-founder of IDsign, and co-founder of the Dubai Blockchain Center, he has been instrumental in advancing blockchain adoption and education in the Middle East and globally.
About Bonuz Social Smart Wallet
Bonuz’s social smart wallet has quickly gained traction, offering users a seamless and secure way to interact with digital assets. The platform’s successful launch marks a significant milestone in the company’s journey to revolutionize the way people engage with blockchain technology. The smart wallet’s secure and simple Social Login with sponsored Gas Fee’s for Bonuz use-cases give users the feeling of using any familiar web2 product. Bonuz strives to be the first ecosystem to bring 1 Billion users onchain. Currently, Bonuz’s “Onchain Social ID” protocol can aggregate up to 11 Billion active social media accounts. The Bonuz Mobile App is free and can be downloaded for IOS and Android.
For more information about Bonuz, please visit www.bonuz.xyz.
Follow Mende on Social Media:
X – https://x.com/MendeMatthias
BINANCE – https://www.binance.com/en/square/profile/Mende
INSTA – https://instagram.com/mende
Blockchain
GameChain’s Multi-Chain Ecosystem Poised to Revolutionize Gaming and Propel GAME Token Growth
GameChain is at the forefront of transforming the gaming industry by creating a robust ecosystem that brings together developers and players in an unprecedented way. By fostering an environment where both parties can thrive, GameChain is opening up a world of possibilities that extends beyond traditional gaming platforms. Central to this innovation is its broad multi-chain compatibility, which is set to redefine the boundaries of blockchain gaming.
One of GameChain’s standout features is its support for multiple leading blockchain networks, including Ethereum, Arbitrum, Optimism, Polygon, and Avalanche. This extensive compatibility ensures that developers have the flexibility to build and deploy games across various platforms, tapping into different user bases and leveraging the unique advantages of each network. For players, this means access to a wider array of games and assets, all within a seamless and interconnected ecosystem.
The broad multi-chain support not only enhances accessibility but also significantly improves scalability and transaction efficiency. By utilizing networks like Arbitrum and Optimism for their layer-2 solutions, GameChain can offer faster transaction times and lower fees. This technical prowess ensures a smoother gaming experience and encourages more users to participate in the ecosystem.
Based on these groundbreaking developments, industry analysts anticipate that the GAME Token is set to experience substantial growth. The token’s utility across multiple chains and its integral role in transactions, staking, and governance within the GameChain platform position it for increased demand. As more developers and players join the ecosystem, the value of the GAME Token could rise, reflecting its central role in this expanding network.
With its commitment to innovation and community empowerment, GameChain is not just creating an ecosystem—it’s pioneering the future of blockchain gaming. The platform’s multi-chain compatibility and the potential surge in GAME Token value underscore its capacity to reshape the gaming landscape. For developers and players looking to be part of a transformative movement, GameChain offers the tools, community, and opportunities to thrive in the evolving world of Web3 gaming.
For more information, visit the GameChain presale site or join the community on Telegram and X.
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