Here are some of the major developments from the world of crypto over the past few days
Sui Network has joined the growing ranks of Web 3.0 firms that have streamlined Web 3.0 onboarding. The Sui Foundation has announced the launch of a new Zero Knowledge login (zkLogin) function on September 13, 2023 that will enable users to log into decentralised applications (DApps) using their Google, Facebook, and Twitch login credentials.
Users can log in the same way they always have on other parts of the Internet, saving them from having to deal with annoying Web 3.0 wallets.
According to Sui Foundation managing director Greg Siourounis, zkLogin will remove a significant barrier for bringing the benefits of Blockchain-based applications to billions of mainstream users by allowing people to access dApps using the social logins they have grown accustomed to using.
Users, both new and seasoned, have long complained about a variety of usability problems throughout the onboarding process, such as the requirement to sign transactions, maintain seed phrases, and submit lengthy strings of nonsensical information in order to access some DApps.
The creator of the “Stoner Cats” animated series, Stoner Cats 2 LLC (SC2), has agreed to a cease-and-desist order and other restrictions imposed by the US Securities and Exchange Commission (SEC) after being accused of conducting an unregistered offering of crypto-asset securities in the form of non-fungible tokens (NFTs).
The SEC claims that SC2 sold more than 10,000 NFTs for an average price of $800. The sale took place on July 27, 2021, lasted 35 minutes, and the money raised went towards paying for the series. The animated series Stoner Cats, which featured an elderly woman and her cats using marijuana, was available to viewers through the NFTs. Two days following the NFT sale, the first of the six programmes aired. The animated series is accessible only to NFT holders.
Actress Mila Kunis took the lead on the Stoner Cats project, working with seasoned NFT artists. Kunis, Ashton Kutcher, Chris Rock, Dax Shepard, Gary Vaynerchuk, Jane Fonda, Michael Bublé, Seth MacFarlane, and Vitalik Buterin made up the cast of the show.
The Cosmos Hub now has upgrades to offer liquid stacking. The liquid stacking module eliminates a 21-day locking period applied for unstaked ATOM tokens. In effect, users can now unstake ATOM money on Cosmos Hub, a Blockchain that is a component of the Cosmos Network, to get around the traditional 21-day unbonding time.
The Cosmos network’s native token is called ATOM. Before the upgrade, ATOM holders had a 21-day locking period after unstaking the token before they could move their money. With the new module, yields from staking can be maintained when using staked ATOM in the Cosmos decentralised finance (DeFi) ecosystem.
Users hold onto their tokens during the staking process to verify transactions and protect a Blockchain network. Similar to receiving interest on a savings account, participants receive rewards for their contributions.