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3.26%Reading
Coinbase-led Rosetta, an open-source set of tools to help developers integrate other blockchains into their services, just got a new signup: Neo, a blockchain platform that is itself focused on interoperability.
Neo integrates with #Rosetta, an open-source project led by Coinbase. We look forward to work together with Rosetta improving protocol integration processes in order to build the next-gen Internet.https://t.co/Nl8nF3OW4G
— Neo Smart Economy (@Neo_Blockchain) August 28, 2020
Rosetta, which launched on June 17, is a standardization tool to make it easier for blockchains to speak to each other. Each blockchain is different, making it difficult and time-consuming for crypto project developers to integrate other blockchains.
“The process requires careful analysis of the unique aspects of each blockchain and extensive communication with its developers to understand the best strategies to deploy nodes, recognize deposits, and broadcast transactions,” wrote Neo in a blog post today. “Project developers spend countless hours answering similar support questions for each team integrating their blockchain, rather than spending time working on their blockchain.”
Popular San Francisco-based crypto exchange Coinbase has released Rosetta, a toolkit designed to make blockchain integration simpler and more effective, especially for exchanges working with new tokens. In a blog post, Coinbase stated that Rosetta will be available starting today for digital currency exchanges and blockchain developers alike. With the number of blockchains increasing—and with each blockchain featuring unique specifications—exchanges have to take time and care when integrating w...
It’s theoretically easier for crypto companies to integrate a blockchain that adheres to Rosetta’s framework, since they roughly know how such a blockchain works.
That’s good for everyone. It’s beneficial for the blockchain’s developers, who want to get their blockchain’s coin listed on exchanges and integrated with other services. And it’s also beneficial for those integrating another blockchain, since they can improve their own products with new services.
Today, then, things got a lot easier for Neo, a Chinese blockchain platform started by Da Hongfei and Erik Zhang in 2014. Neo focuses on crypto trading, digital identity and smart contracts—it’s a little like Ethereum. It’s also one of the founding members of PolyNetwork, a blockchain interoperability platform, and runs an interoperable DeFi platform, Flamingo.
Despite the Rosetta integration, however, Coinbase has still not listed Neo’s coin as the exchange requires a coin to overcome several regulatory hurdles.
After today’s announcement, Neo’s price shot up 6%, though it likely wasn't related to the news; most top coins had similarly rosy days. Its current price is $18.23, according to data from metrics site CoinMarketCap.
Nasdaq has applied to the U.S. Securities and Exchange Commission for a rule change that would allow the exchange to list shares of a 21Shares exchange-traded fund based on the price of Dogecoin, according to a filing Tuesday. The 21Shares Dogecoin ETF would track the popular meme coin’s price, mirroring spot Bitcoin and Ethereum ETFs that gained approval last year, according to the 19b-4 document. 21Shares followed crypto asset managers Grayscale and Bitwise as Dogecoin ETF hopefuls, filing an...
El Salvador’s Bitcoin accumulation quietly persists under IMF watch. While President Nayib Bukele’s government formally paused its Bitcoin acquisitions by public sector entities to satisfy International Monetary Fund (IMF) loan conditions, the country's Bitcoin Office continues to quietly expand the country’s national reserves. In the past month, El Salvador added another 32 BTC worth more than $650,000, bringing its total holdings to 6,161.18 BTC valued at roughly $584 million, consistent with...
Privacy blockchain Monero (XMR) jumped 51% on Monday—and on-chain investigators pointed to hackers laundering $330 million in stolen Bitcoin as the likely culprit. Early on Monday, on-chain sleuth ZachXBT highlighted a “suspicious transfer” made from a “potential victim” of 3,520 BTC (worth approximately $333 million). Soon after, the funds were swapped to XMR via multiple exchanges. ZachXBT believes this was “theft” due to the high fees paid and the suspicious activity once the funds had been m...
