Today, various partnerships have been announced for many altcoin projects. Here are some notable developments on a daily basis…
Popular altcoin Lido integrates with OKX
According to the official news dated April 21, Lido Finance, the largest Ethereum-based liquidity staking protocol, has now integrated the OKX Web3 wallet. Users can connect to OKX Web3 wallet to stake Ethereum on Lido. In addition, users can directly search the Discover section of OKX Web3 wallet and enter Lido to stake ETH and receive rewards. OKX Web3 wallet; DEX provides coin earning, NFT market and Dapp discovery. In addition, OKX launched Web3 wallet MPC private keyless wallet.
ENS partners with MoonPay
On the other hand, Ethereum Name Service (ENS), a digital identity protocol, announced that it has teamed up with MoonPay, a Web3 payment firm, to create a fiat on-ramp for users looking to purchase .eth domain names. With this arrangement, users will be able to use MoonPay as a payment service to directly purchase and register .eth domains instead of having to purchase Ethereum (ETH) and set up an altcoin wallet first. Setting up a crypto wallet can be complicated for the non-tech savvy, but using a fiat currency launcher overcomes such hurdles.
As we have also reported as Kriptokoin.com, ENS is a domain name protocol that runs on the Ethereum Blockchain. It makes it easy for users to send and receive crypto to these abbreviated addresses by providing users with an easily readable name such as “xyz.eth” instead of the long or complex alphanumeric address attached to a crypto wallet. This service is similar to the Web3 version of the Domain Name System (DNS), which creates internet name addresses such as “google.com” instead of the digital internet protocol (IP) addresses of websites.
TransUnion will start scoring for Blockchains
TransUnion, one of the three major credit reporting agencies in the United States, announced on April 20 that it will begin providing credit scoring to public blockchain networks. Off-chain credit data was previously not available for Web3 and decentralized finance (DeFi) applications. In the new TransUnion service, credit information will be made available to decentralized applications or DApps at the request of the consumer. All of the credit information will be delivered to the consumer and the quotes will go to the DApp.
TransUnion has partnered with Spring Labs and Quadrata to provide credit data through a network of digital passports that will protect the consumer’s identity on Blockchains. Since it was first announced a year ago, the project took some time to come to life. Jason Laky, TransUnion vice president of financial services, said the new product will help minimize risk to lenders while “providing borrowers with more opportunities for better terms.” TransUnion claimed it could “offer credit scoring for virtually the entire U.S. adult population” and has partners operating in more than 30 countries.
Sui Foundation partners with ImmuneFi
On April 21, the Sui Foundation announced that it will collaborate with Immunefi to launch the Bug Bounty bounty program, which aims to encourage white-hat hackers to find effective vulnerabilities and issues, thereby helping to maintain the security and stability of the platform. Vulnerability impacts were divided into four levels: low level, medium level, high level and highest level. When submitting all vulnerability reports, relevant certificates should be attached to indicate whether the vulnerability was discovered while running the testnet or mainnet, and to indicate the eventual scope of the affected assets. Only when these conditions are met can it be considered valid and participate in prize sharing.
Radix-LayerZero partnership marked the altcoin world
Web3 interoperability is essential for building a decentralized ecosystem that provides a scalable, secure and seamless user experience. Radix, a layer-1 protocol, has partnered with LayerZero, an interoperability protocol, to integrate LayerZero into the Radix Babylon public network. The integration benefits both the platforms and their users by promoting cross-chain communication and asset transfers to the Radix ecosystem.
Web3 interoperability refers to the ability of different decentralized applications (DApps) and Blockchain networks to communicate with each other. Simply put, interoperability is a state where blockchains can listen to each other, allow users to transfer crypto assets and data, and enable better collaboration. LayerZero’s technology enables decentralized applications to send messages between different Blockchains. By integrating LayerZero into the Radix ecosystem, Radix users and developers will have a connected experience and make it possible for DApps and assets to unlock omnichain functionality.
Popular altcoin Chainlink announces key partnership in BUILD program
Akron Finance has announced that Chainlink will join the BUILD Program as part of its efforts to increase adoption of the Akron Crossing Network. Oracle service provider Chainlink is an industry standard Web3 service platform and works to connect various Blockchain platforms. Chainlink BUILD is part of the platform’s efforts to strengthen the Chainlink impact for decentralized applications (dApps) by aligning different cross-ecosystem initiatives. Akron Finance announced that, as part of BUILD, Chainlink aims to accelerate the growth of the ecosystem and long-term use of the Akron Crossing Network by providing access to oracle services and technical support.
Conflux partners with Accseal
Conflux announced a new zero-knowledge (ZK) strategy in partnership with Accseal, a cutting-edge company specializing in creating ZK accelerator chips. The collaboration aims to explore the most advanced ZK technologies and solutions that can be integrated into the Conflux ecosystem. Conflux will primarily leverage ZK solutions in a variety of scenarios to increase scalability. Currently, Conflux has a thriving NFT ecosystem in its core area with a significant number of users from large enterprises in China such as Little Red Book.
Using ZK solutions, this business model will expand to other internet giants. More than 150 businesses are currently printing and selling NFT on Conflux networks, resulting in a more than 10x increase in storage demand on Conflux nodes. According to on-chain data, the storage collateral on the Conflux chain was 82,566 CFX as of December 2021, increasing 17 times to 1,478,275 CFX by December 2022.
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