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Buterin also lauded the recent rise of Ordinals and believes it has brought the builder culture back to the Bitcoin ecosystem. Ethereum co-founder Vitalik Buterin believes the Bitcoin network needs scalable solutions like the zero-knowledge (ZK) rollups to become more than another payment network. Buterin’s comments came during a Twitter space hosted by Bitcoin developer Udi Wertheimer with discussions revolving around Ethereum’s scaling experiments. A ZK-rollup chain is an off-chain protocol that operates on top of the Ethereum blockchain and is managed by on-chain Ethereum smart contracts. It offers a more scalable and faster way to verify transactions without sharing critical user information. The Ethereum co-founder shed light on how Ethereum has managed to incorporate various scaling solutions over the years and the recent experiment with ZK rollups and Plasma has given better throughput. Buterin cited the example of Optimism and Arbitrum as two successful examples of “rollups...

Stablecoins are seen as a potential solution to crypto’s banking problem, but some of them are currently not immune to banking issues. The collapses of banks like Silvergate have certainly impacted cryptocurrency exchanges but there are ways for the industry to survive without the support of banks, one executive believes. Crypto exchanges significantly rely on traditional banking systems for customer deposits, which makes them vulnerable to various banking issues, according to Bitstamp USA CEO and global commercial officer Bobby Zagotta. The executive believes that stablecoins — cryptocurrencies whose value is tied to fiat currencies or other assets — could be a solution to crypto’s banking problem. “We are currently discussing how stablecoins can offer us an alternative to traditional banking,” Zagotta said in an interview with Cointelegraph on March 27. He added that stablecoins could potentially unlock new capabilities for the industry, allowing it to look at banking from a new p...

Masa Finance announced its deployment on the Celo blockchain with its new “Prosperity Passport” identity solution for users. A central focus for many in the Web3 community has been improving identity solutions available to consumers. Last year the emergence of soulbound tokens (SBT) introduced a new way for users to define themselves.  Although the SBT hype quieted over the last months, they have not disappeared off the scene. On Mar. 1, the SBT protocol Masa Finance announced that it will deploy on the carbon-negative Celo Blockchain to create a new identity solution .  More than 10 million wallets active in the Celo ecosystem will be able to generate a Masa “Prosperity Passport.” This new Web3 identity solution allows users to mint a variety of SBTs related to their digital life, such as an authenticated user verification SBT, a credit score SBT, a community reputation SBT and a .celo domain name SBT. Calanthia Mei, the co-founder of Masa Finance said nonfungible tokens (NFTs) we...