Web3 Insights: Chainlink's New Node Operator, Rising NFT Collection, and Ledger's Tweet Controversy

Web3 Daily : Trends, Insights, and Innovations

Web3 Daily Digest: Smart Contracts, NFTs, and Ledger Controversy

Hello everyone,

Web3 continues to rapidly evolve and develop. In today's edition of the Web3 Daily Digest, we explore important updates, projects, and insights that are influencing this landscape.

News Update: Coinbase Cloud Joins Chainlink Oracle Network

Coinbase Cloud has made a strategic decision to operate as a new node operator on the Chainlink network.

Their extensive experience and global infrastructure will serve to bolster the security and reliability of the Chainlink blockchain oracle network.

This partnership highlights the continued effort towards enhancing the decentralisation of the Web3 ecosystem.?

Observing the persistent integration of major service providers with Chainlink, it's clear that the strengthening of the oracle network is setting a firm foundation for the future.

This trend signifies the impending ubiquity of interconnected data streams, further cementing its status as the new standard in our digital world.

Learn more about it here: Coinbase Cloud & Chainlink https://cointelegraph.com/news/coinbase-cloud-plugs-into-chainlink-oracle-network-to-improve-smart-contract-reliability

Project Spotlight: Bitcoin Frogs, The Most Traded NFT

A new wave in the NFT marketplace, Bitcoin Frogs, has become the most traded NFT collection in the last 24 hours.

Bitcoin Frogs, a unique NFT collection themed around frogs, has swiftly gained traction to become the most traded NFT collection within a 24-hour span, even surpassing notable collections like Bored Apes.

Launched on the Bitcoin Ordinals platform in late February, the Bitcoin Frogs collection - comprising 10,000 distinct frog collectibles minted directly on the Bitcoin blockchain - recorded a trading volume exceeding $2.2 million.

Check out more details here: Bitcoin Frogs NFT https://www.coindesk.com/markets/2023/05/18/pepe-themed-bitcoin-frogs-becomes-most-traded-nft-amid-bitcoin-ordinals-hype/

Insight: Ledger's Controversial Statement

Crypto wallet maker Ledger stated that it is technically possible to create firmware that facilitates key extraction, indicating that the company could potentially access its users' keys. While Ledger has not done this, the statement raises important questions about trust and security in the digital asset space.?

"Technically speaking it is and always has been possible to write firmware that facilitates key extraction. You have always trusted Ledger not to deploy such firmware whether you knew it or not," Ledger said earlier on a now-deleted tweet.

Read more about it here: Ledger Controversy https://www.coindesk.com/business/2023/05/18/ledger-continues-to-defend-recovery-system-says-its-always-technically-possible-to-extract-users-keys/

Web3 continues to be a dynamic and transformative space.

Today's stories reflect the growing complexities and opportunities within this domain.

Stay tuned for more insights and updates.

Feel free to share your thoughts in the comments below and share this post within your network.

Thank you for reading.

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For you attention: Not financial advice; nothing contained in this newsletter is to be considered financial advice; this is purely educational material meant to educate on the developments within the Web3 space.

#Web3 #Blockchain #Crypto #DecentralizedInternet #Bitcoin #NFT #Ledger #Chainlink #CoinbaseCloud