Blockchain infrastructure platform Coinbase Cloud has officially rolled out its Web3 developer platform, allowing users to build new decentralized applications free of charge.
The new developer platform, dubbed Node, allows users to create and monitor Web3 applications while accessing the Ethereum blockchain and indexers, the company disclosed Wednesday. While Node offers a tiered subscription model, the free plan includes access to advanced APIs that allow for the creation of decentralized applications and nonfungible token (NFT) applications.
Coinbase Cloud claims that Node enables faster creation of Web3 applications while reducing both complexity and cost. This feeds into the platform’s broader service offerings, which include all-in-one access to payments, identity, trading and data infrastructure.
As the name implies, Coinbase Cloud was created by crypto exchange Coinbase in 2021 to provide developers with familiar tools for building decentralized products. Shortly after the developer suite was launched, Coinbase executives proclaimed that they “want to be the AWS of crypto,” referring to Amazon Web Services, which powers the enterprise cloud market.
Web3 has become an all-encompassing buzzword describing some future version of the internet. Still, developers, venture capitalists and investors have a keen interest in identifying and formulating what this future internet will look like beyond the common features of decentralization and user-controlled communities.
At the recent Australian Crypto Convention, whic Cointelegraph attended, Trust Wallet CEO Eowyn Chen said three roadblocks were preventing widespread Web3 adoption: security, ease of use and privacy. While she outlined some solutions, Chen said the bear market could provide an excellent opportunity to address consumer concerns before Web3 concepts attract more mainstream attention.
With thousands of nonfungible tokens (NFTs) getting minted every single day, trying to find rare pieces can be a challenge for NFT collectors. However, as the industry continues to progress, the hassles in finding rare NFTs may soon become a thing of the past.
In a tweet, NFT marketplace OpenSea announced the implementation of OpenRarity, a protocol that provides verifiable rarity calculations for NFTs within its platform. The protocol uses a transparent mathematical approach to calculating rarity.
OpenSea said that rare NFTs will be awarded lower numbers like 1 or 2, while NFTs that have attributes similar to many other NFTs will have higher numbers. With this, the marketplace highlighted that buyers would be able to view a reliable “rarity ranking” when considering purchasing NFTs.
The feature will not be automatically applied to all NFT collections. According to the NFT marketplace, creators will still have control if they want to choose to apply the OpenRarity feature to their collections or not.
The OpenRarity project was a collaborative effort between various NFT community entities, including Curio, icy.tools, OpenSea and Proof. The goal is to standardize the rarity methodology and provide consistent rarity rankings across all NFT platforms.
The NFT marketplace also recently launched an initiative that lets creators make their own NFT drop pages that they can customize with images, videos and highlights. With this, creators can share information about the NFT drop, like the minting schedule and a gallery. Apart from these, creators can also add a countdown clock and allow collectors to receive email alerts to remind them of the mint.
Meanwhile, a report published by blockchain analytics firm Chainalysis highlighted that NFTs are the largest driver in crypto adoption in the Central, Southern Asia and Oceania (CSAO) region. According to the report, 58% of web traffic to crypto services is NFT-related.
A United States crypto advocacy group, the Chamber of Digital Commerce (CDC), has been granted approval from the Court of Southern District of New York to participate as an amicus curiae in the U.S. Securities and Exchange Commission (SEC) case against Ripple Labs. The status of “friend of the court” permits them to assist a court by providing information, expertise or insight.
An order was signed by Judge Analisa Torres on Sept. 21. The CDC shall file its brief by Sept. 26.
While explaining its interest in the case, the CDC legal team emphasized the far-reaching consequences of the court decision, namely, whether the law applicable to the securities transaction is properly distinguished from the one applicable to secondary transactions.
The case was opened in 2020 when the SEC alleged that Ripple and its executives Brad Garlinghouse and Christian Larsen sold XRP as unregistered securities worth over $1.38 billion. The outcome of this case could determine whether XRP is a security. If the judge rules in favor of the SEC, it could be the precedent the commission needs to pursue legal action against other crypto projects that sold tokens similarly to Ripple.
Reacting to the CDC’s application for an amicus curiae status, the SEC has requested the court to grant additional time and pages if more amicus briefs are allowed. Ripple objected to the SEC’s demand, calling it “yet another transparent attempt to further delay resolution of this case.”
In July the SEC attempted to repeal the “amici curiae” status of XRP holders, but Judge Analisa Torres dismissed the request.
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