☕️The Morning Cup: Polygon and Immutable partner to advance blockchain gaming, Microsoft’s Edge may offer Web3 wallet
Good morning, good day, and good evening. Welcome back to The Morning Cup. It’s your weekly recap of the latest in crypto news and your start to the week, no matter where you are. Don’t worry, we’ve selected just what you need to stay up-to-date, so you won’t spend time pouring through the news you don’t need, only the news you care about.
📈📉 Market Watch!
Bitcoin soars to touch $28K in defiance of market conditions
Even after the failure of Signature and Silicon Valley Bank, BTC had quite the week in a shock uptrend. The largest cryptocurrency by market cap, BTC briefly hit $28,000 over the weekend.
The top gainers for the last 24 hours on Poloniex are SHIK/USDT, FTT/USDT, FACTR/USDT, HEX/USDT, and KUB/USDT.
🗞️ So, what happened?
Coinbase to bring first-ever crypto-related court case to US Supreme Court
US-based crypto exchange Coinbase will give arguments in a case concerning the ability of a class action lawsuit to proceed in the courts while Coinbase itself is trying to bring it into arbitration. While the case does not contain any judicial decisions on crypto itself, it is the first time that the Supreme Court will handle a case that relates to crypto.
Coinbase is currently in the middle of several class-action lawsuits, with plaintiffs taking up a whole host of issues from hacks suffered on the platform to alleging that Coinbase misled users. Were the Supreme Court to decide that Coinbase’s move toward arbitration with these cases did indeed preclude them from proceeding, this would ease the exchange’s current legal burdens.
Equally, if not more interestingly, this comes amidst other engagements Coinbase has with government entities in the US. Just some days ago, Yahoo! Finance reported that Coinbase’s Chief Policy Officer, Faryar Shirzad, had told the publication that there is no path forward with registering with the SEC. This, according to Shirzad, is due to a lack of clarity on the SEC’s part.
Polygon and Immutable partner to offer Web3 game developing hub
Scaling solution Polygon and Web3 gaming platform Immutable are partnering to provide a hub for blockchain-based game developers to take advantage of Polygon’s zero-knowledge (often abbreviated as zk) technology. Specifically, Polygon’s forthcoming zkEVM (zero-knowledge Ethereum Virtual Machine). In short, it will be easier for game developers to build Ethereum-based Web3 games while enjoying faster and cheaper transactions. It is the desired outcome of this partnership that Web3 games that champion monetization and true ownership within a gaming experience can be built more easily.
Polygon is an Ethereum scaling solution that uses a sidechain to process more transactions more efficiently. This recent news is the latest big step by the project, which has made headlines in recent years with news of its involvement with industry giants like Disney and Instagram.
Immutable is also an Ethereum scaling solution in the form of a Layer 2 Network. It is focused on the advancement of blockchain-based gaming, boasting faster transaction speeds in service of adoption. Thus far, the project has been looked to by the likes of GameStop and TikTok to implement Web3 gaming functionality as well as NFT capabilities on their platforms.
Web3 wallet functionality may come to Microsoft’s Edge browser
According to screenshots shared on Twitter by software documenter Albacore, Microsoft is working on integrating a Web3 crypto and NFT wallet into its Edge browser. This could be seen as a part of Microsoft’s grander push to bring its software applications, Edge especially, to the bleeding edge of the tech world. That is, this news comes on the heels of the tech giant’s blockbuster integration of OpenAI’s artificial intelligence technology (known mostly for ChatGPT) into its Bing search engine. Users can now use Bing’s AI assistant to search the web, answer questions, and even write poetry based on given prompts.
From the screenshots provided in Albacore’s Twitter post, it seems the wallet will be noncustodial, so that Microsoft has no access to users’ private keys or passwords. Made apparent in the Tweets as well is that this functionality is also in the testing phase. Microsoft has not made any specific announcement about a planned rollout of the wallet.
🤑 New Listings on Poloniex
Here’s what we’ve listed recently:
New Coins
Futures
🔍 DYOR before trading
Polopedia
Sushiswap, the sushi-themed DEX, is the subject of this week’s Polopedia entry🍣
Crypto Glossary
“Mainnet” refers to the network of a blockchain where real transactions take place, are verified, and are recorded. When we read about blockchain upgrades like the Shanghai upgrade, there is mention of its deployment on Ethereum’s Mainnet, as opposed to its testnets where an upgrade is, of course, tested. The term is meant to differentiate between a blockchain’s real network and its test networks.
What’s happening here at Poloniex?
This is what Poloniex’s week looked like
Highlights for the week
Campaigns
Our recap of ongoing campaigns that YOU can get involved in!
Invite Friends to Join in the BLUR Trading Contest for a chance to win BTT!
Hold IGU to Earn up to 100% APY with Polo Earn
Draw a picture using a crypto price chart for a chance to win 200USDT!
The community megaphone📢
Highlights from the community
And that about covers it for this week! Curious about our campaigns or upcoming events? Give us a shout in our Telegram channel- https://t.me/PoloniexEnglish
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Thanks for spending some time with us as we went over what’s going on. And wherever you are, from the team here at Poloniex, good morning, good day, and good evening!
