#transactions

Beginning on August 31, the popular NFT marketplace OpenSea will not charge royalties for NFT secondary transactions, signaling a change in artist earning policy. Previously, creators were able to set a commission of 2.5% to 10% and earn from every resale. However, with the new update, the creator fee is left up to the discretion of the buyer. For collections on non-Ethereum blockchains, the creator fee will only remain mandatory until February 29, 2024. After this date, the entire platform will make royalties optional.

The immense wave of transactions and heightened user activity took Shibarium by surprise, causing some tech glitches, says Shytoshi Kusama, the co-founder of the Shiba Inu ecosystem. He's also quick to debunk the rumors about funds getting stuck in the bridging contracts, terming it as pure FUD. "Although we expected a very busy moment, we never expected THIS much traffic, instantly," reflects Shytoshi Kusama. At its launch, the Shibarium team tackled a load of 160 million computational tasks in a span of about 30 minutes, while anticipating only 400 million within a month.

DeBank has introduced a new Layer-2 solution based on OP Stack for user experimentation. It's now live for testing, and the mainnet is slated for 2024. According to an official briefing, developers have accomplished cost reductions ranging from 100 to 400 times for specific transactions, all the while targeting gas expenditure. Besides, to fortify user defense and trim L1 data leaks, transactions will be signed with a specially devised second-tier private key.

Japan's Soramitsu is at the forefront of crafting a system that enables cross-border transactions specifically tailored to the Asian market. This initiative involves leveraging the Cambodian CBDC to cater to markets in India, China, and Japan. Additionally, Soramitsu aspires to establish a Japanese exchange for stablecoins, simplifying currency conversion across various countries.

The data analysis company, Santiment, has detected a notable surge in transactions (exceeding $10 million) within certain renowned altcoins, including AAVE, APE, COMP and others. The majority of these have seen a price decline, with AAVE being the exception, as its value increased by 1.14%. This shift was discernible not only against the dollar but also when compared to Bitcoin.

Base, engineered on OP Stack as a second layer network, has managed to surpass Arbitrum and Optimism in the number of daily transactions this week. Data from The Block highlighted that on August 15, Base's moving average reached 610,000 transactions, while the counts for Arbitrum and Optimism stood at 576,000 and 597,000, respectively. Although Optimism currently holds a slight lead, overall, the networks are closely competing.

Ukraine's Security Service has successfully dismantled a significant underground network that was carrying out unauthorized financial transfers between Russia and Ukraine, making use of banned Russian payment systems and digital currencies. Active in four regions, these secretive hubs were handling over $1 million each month. Platforms like Yumoney, Webmoney, and various cryptocurrencies were employed to change Russian rubles into digital currencies and subsequently into Ukrainian hryvnia. The primary customer base was made up of hackers and companies participating in under-the-table transactions with Russia.