In our last blog post, we reported on the US OFAC agency’s sanctioning of Tornado Cash, which prohibits any person, company or entity in the US from transacting with a list of sanctioned addresses that have received funds from the popular mixing service. The sudden announcement sent shockwaves through the crypto community, especially when Tornado
When the US Treasury Department made an announcement on August 8 banning Americans from using the decentralized mixing service Tornado Cash and from interacting with any wallet addresses linked to the protocol, it sent shockwaves through the whole crypto industry. We are still seeing the fallout from the ban, both in repercussions for crypto exchanges
The world’s crypto and DeFi ecosystem does not exist in its own closed bubble: since Bitcoin was first exchanged for fiat currency in 2010, fiat on and off ramps have been crucial to the sector’s development. In a previous Skytale blog post, we looked at the history of stablecoins and how different types of stablecoins
With Bitcoin temporarily dipping to below $20,000 and Ethereum toying with the $1,000 threshold, the crypto markets can feel like a grim place for traders and investors. Anyone who bought and held crypto in the last six to nine months has lost money in fiat terms, and many traders using leverage or relying on yield from one of the collapsed DeFi savings protocols have been totally wiped out.
“One unified API. One billion possibilities.” – Covalent’s vision is to empower tomorrow’s pioneers by providing the richest and most robust data infrastructure for the entire blockchain ecosystem. More than 1,000 projects are being built using its unified API, including Skytale, which selected Covalent as our blockchain provider for its automatic indexing and being blockchain agnostic.
In the last month, the dramatic collapse of Terra’s UST stablecoin and its sister token LUNA have alerted investors to the potential risks associated with stablecoins, particularly algorithmic stablecoins like UST. Read the full article to understand the rise and fall of Luna and TerraUSD.
How did non-fungible tokens change from niche crypto collectibles to a multi-billion dollar business? Before 2021, NFTs were a fringe asset. Over the last 10 years, developers and crypto enthusiasts periodically experimented with non-fungible tokens, from the Rare Pepes that were created on Counterparty as early as 2012 to the now legendary Crypto Punks. Few outside the blockchain ecosystem had heard of them.
Stablecoins share some of their characteristics with fiat currency and some with cryptocurrencies, and form a bridge between the two. Most stablecoins so far have been pegged against the dollar, so that one unit is worth $1, within a certain margin of error.
On March 24th, the first-ever Metaverse Fashion Week kicked off on Decentraland. It brought four days of runway shows, shopping, event venues, after parties, immersive virtual stores by brands such as Dolce & Gabbana or Tommy Hilfiger and panel talks organised by Boson Protocol and CashLabs. Decentraland, powered by the Ethereum blockchain, provided a decentralised,
We are very proud to announce our partnership with BoringDAO. As you know we strongly believe in interoperability and a multichain approach and we think that partnering with BoringDAO is another step towards this direction. BoringDAO is a inter-blockchain hub that enables assets to be freely transferred between different chains, in a cost efficient and
