Linux Foundation launches Open Metaverse Foundation

The nonprofit Linux Foundation has launched the Open Metaverse Foundation (OMF) to promote an open metaverse.

Current participating organisations of the OMF include the Cloud Native Computing Foundation, Futurewei, GenXP, Hyperledger Foundation, LF AI, LF Edge & Networking, Open Voice Network, Open Wallet, and Veriken.

When discussing the metaverse, it’s important to consider the history of the web.

The original vision for the web was a decentralised...

19 January 2023 | Blockchain

OpenWallet aims to support Web3 wallet development

The Linux Foundation has announced OpenWallet, an initiative to support the development of Web3 digital wallets.

“We are convinced that digital wallets will play a critical role for digital societies,” said Jim Zemllin, Executive Director of the Linux Foundation.

“Open software is the key to interoperability and security. We are delighted to host the OpenWallet Foundation and excited for its potential.”

OpenWallet aims to develop a secure and...

13 September 2022 | Blockchain

Game developer criticises NFTs at event sponsored by blockchain firms

A game developer surprised attendees of an event sponsored by blockchain firms by criticising NFTs.

NFTs (Non-Fungible Tokens) have become one of the blockchain industry’s darling use cases. The technology is primarily associated with art projects; with purchasers able to prove their ownership thanks to immutable records on blockchains.

Arguably, the most infamous NFT project is Bored Ape Yacht Club—which even recently featured in a music video by Eminem and Snoop...

13 July 2022 | Blockchain

Web3 projects lost over $2B to hacks in H1 2022

A report from CertiK finds that web3 projects lost over $2 billion to hacks in H1 2022—more than all of 2021 combined.

“2022 is already the most expensive year for web3 by far. From these numbers, 2022 is forecast to see a 223% increase in the funds lost to attacks when compared with 2021,” wrote CeriK in their report.

CertiK’s sobering report highlights the difficulties of an industry that pitches itself as returning to the decentralised ideals of web1 while...

8 July 2022 | Blockchain

Ethereum core developer encourages ‘The Merge’ testing

Tim Beiko, an Ethereum core developer, has taken to Twitter to encourage both developers and users to help test “The Merge” prior to the anticipated event.

The Merge is when Ethereum’s proof-of-stake testnet will merge with the platform’s mainnet—a highly complex endeavour that has been many years in the making. Short of any delays, it’s expected to take place in August.

Ethereum has $70.55 billion “locked” in its thriving decentralised finance ecosystem....

24 May 2022 | Blockchain

Web3: Ethereum leads in developers, falling behind in activity

According to a16z’s 2022 State of Crypto report, Ethereum is maintaining its lead in web3 developers but rivals are overtaking in activity.

The report opens with some history of the various web eras and why web3 has many people excited:

Web1 (~1990-2005) – Based on open protocols, decentralised, and community-governed. However, relatively basic in terms of functionality.Web2 (~2005-present) – Siloed, centralised services with value and content ownership granted to a...

18 May 2022 | Blockchain

Enterprise Ethereum Alliance and BEN announce Web 3.0 virtual job fair

The Enterprise Ethereum Alliance (EEA) and Blockchain Education Network (BEN) have announced a virtual job fair to attract Web 3.0 talent.

Web 3.0 aims to move away from centralisation to put content ownership, privacy, and control back in the hands of creators and people. As the largest decentralised platform, Ethereum is leading the charge.

There are over 100 members of the EEA, including giants like SAP, Microsoft, Accenture, FedEx, JP Morgan, and...

24 March 2022 | Blockchain

Ethereum still has the most Web 3.0 developers, but rivals are growing faster

Decentralised app platform Ethereum still has the most Web 3.0 developers, but it’s all to play for with rivals growing faster.

The data comes from research firm Electric Capital which released a report this week into the Web 3.0 development ecosystem.

Electric Capital found that more than 4,000 developers actively work on Ethereum per month. 

For comparison, just 680 developers actively work on Bitcoin per month. It’s a huge disparity, but it’s...

6 January 2022 | Blockchain

Former Twitter CEO Jack Dorsey demos LDK for supporting fast Bitcoin payments

Former Twitter CEO Jack Dorsey has demonstrated the Lightning Development Kit (LDK), a solution to help developers support fast Bitcoin payments via mobile and point-of-sale terminals.

Dorsey stepped down from Twitter to focus his efforts on Block (formerly Square) which, as a group, is aiming to boost the adoption of Bitcoin as a payment method.

The company’s Square Crypto project was rebranded to Spiral. The company is developing the LDK to enable developers to...

7 December 2021 | API

Niantic gets additional support for building the metaverse as valuation hits $9B

Niantic is emerging as a key player in building the metaverse and investors are keen to get in on the action.

Tech-focused investment firm Coatue has invested $300 million in Niantic, bringing the company’s valuation to $9 billion.

Matt Mazzeo, a General Partner at Coatue, said:

“Niantic is building a platform for AR based on a 3D map of the world that we believe will play a critical role in the next transition in computing.

We are excited to partner...

23 November 2021 | Gaming