5 BITES OF THE CHERRY

Hashgreed Gets NG SEC Approval for tokenizing Real Estate (RWAs)

Hashgreed was the first Digital Asset marketplace to open in Africa. Its homepage describes it as ‘One web3 platform for all At Africa’s First NFT Marketplace’

User accounts are connected via an application using ‘Waves Signer’ which enables the user to sign all transactions. Existing accounts can be imported through  waves.exchange. Hashgreed Web Application never has any access to private keys or secret seed words, all accounts need to be managed at waves.exchange.

The Nigerian Securities and Exchange Commission (SEC) has now granted approval to Africa’s first digital securities platform, Hashgreed, to offer real estate based digital securities.

Efosa Ighodaro, is the Founder and CEO, Vinekross Technologies Limited, which owns and manages Hashgreed, Kross Blockchain , HashPay and other supporting infrastructure.

With the addition of real estate business securities, Hashgreed is the first business to realize operational approval arising from the Nigeria SEC Regulatory Incubation Cohort program launched in January of 2023.

Hashgreeds’ ‘NFT’ marketplace and other services have been in operation for many years.

Additional Perspective – tribuneonlineng.com

.btc comes to the plate, with ENS and Godaddy already 4 years too late

Over the last week I’ve issued two posts about ‘The Happening’. This started with a community consultation on the Handshake Blockchain Ecosystem, followed by OGs  consulting with Miners, and a release of approx. 78/100 k  root names (Top Level Domain Names), available to the auction system.

The Blockchain, a copy of Bitcoin (PoW) was completed in 2019, and the name auction protocol ‘Proof of Burn’ (PoB) resulted in its release in 2020. On consultation with ICANN, 100,000 root names were reserved, deemed to have potential IP and network challenges.

Potential IP owners were informed. Some came forward and claimed their own HNS name (for free), others choose not to; some that were potential IP claimants at the time no longer exist today.

The highest bid on a closed auction from ‘The Happening’ was HNS 2m (.india) At point of bidding, this was $800,000.

The second highest was very interesting – HNS 1m (around $400,000) on .btc

One of the things about owning a token which represents a rootname, is it has many more use cases than just being a name generator. So we don’t know who the buyer of .btc is, and we don’t know their intent (unless they reveal it later).

But imagine if they want to use it as a root and generate (second level) domains off it?

.btc !

Sorry ENS, but .eth has to move over!

Otherwise on this topic, ENS announced a tie up with legacy domain host and registrar GoDaddy. Handshake Domains have had this functionality with Namecheap , Porkbun and EnCirca registries since 2020.

Forbes Advisor currently ranks Porkbun No. 3 and Namecheap No. 4, while it only ranks Go Daddy No. 9.
The difference between .eth and Handshake Domains is on .eth customers only get to use a second level name generated off it.
When someone owns a root domain (for example, .eth) they can do many things with it. ENS has chosen to use it as a name generator, restricting them to only one use-case.
Using a HNS root domain in this way is called staking, and it isn’t even very popular with HNS rootname owners.
There are now 12 million HNS domains. 9ja Cosmos owns about 13k of them. ENS only has 1 (.eth)
We expect more from providers in 2024.

ENS + Godaddy = LATE by 4 years!

Otherwise, through ‘The Happening’ 9ja Cosmos secured ‘.naija’ (local slang for ‘Nigeria’). We will keep it parked for the moment. In September 2022 we made history with .9jacom – the first Web3 top level domain in the world (for Nigeria). But, as browser adoption with handshake resolvers increase, we may experience problems with .9jacom due to resolver design.

Some DNS (Domain Name Server) resolution has challenges with rootnames that start with numbers – there is potential to mistake it for an IP address. If this presents itself, we will bring .naija into play, and migrate existing .9jacom customers to it.

We will operate a generous sunset period for .9jacom for customer benefit.

Additional Perspective – CNN.com . Forbes Advisor

Bitcoin Ordinal Wallets

One of the problems with the usual wallet suspects, is many content creators just assume, for no particular reason, that the user intends to focus on accommodating EVM Compatible Assets.

So when ranking wallets, they rank them according to different features and specifications, without thinking about accommodating a more diverse range of assets from different blockchain ecosystems.

Like most people, I started out in the EVM Compatible ecosystem. The first cryptocurrency I ever owned was MATIC.

Gradually people get to understand there are better and more secure options out there, as they get to understand how different consensus mechanisms, protocols, and bridges work; why miner ecosystems are better than validator ones, and why as cryptomoney, coins are better than tokens.

Some people move beyond EVM faster than others, while some start their cryptojourney strongly, but slow down and stagnate, without moving on.   I’ve already covered the wallets specially for just Bitcoin, and I’ve done stuff on choices for accommodating Handshake (HNS) assets.

Now I’m going to mention a few for Bitcoin Ordinals.

Ordinal fans tend to be a bit techie, and not simply degen type ‘collectors’ and ‘flippers’. Ordinal owners will want to do a combination of three things – Inscribe (mint) Ordinals, Store Ordinals, and Sell Ordinals.

So they need to find an inscription service, to do the minting, they need somewhere they can store what they want to keep, or are just not ready to sell; and they need a market.

My offerings:

Unisat – Unisat offers all three systems – Wallet, Inscription Service, and Market. It’s market also offers other connections besides the Unisat Wallet. It also accommodates Magic Eden, Phantom, Bitget, Okx, Leather and Xverse.

Ordinals – Ordinals Wallet offers all three systems. It’s market also accommodates connections to Phantom, Xverse, Leather and Unisat.

Leather (fka Hiro) – Desktop and Browser Extension Wallets (Mobile coming soon). Connect to Magic Eden, Gamma, Unisat and Ordinal Markets. Connect to Ledger Hardware Cold Wallet. Assets: BTC, STX, Ordinals, BRC-20, Stamps. Connect to Alex and Stackswap Bitcoin DeFi architectures.

Additional Perspective – Cem Dilmegani – AI Multiple Research; okx.com – Trusted Ordinal Wallets.

Derrick Hammer gets development continuation funding for Lume Web from Sia.

2020-2022 – Skynet provided a decentralized hosting space for Handshake Domains. Skynet used Handshake as a human-readable naming layer. They did not resolve on their DNS A records, but rather just looked for a TXT entry containing a ‘skylink’. Skynet Web Portals ran full Handshake nodes and did not rely on any centralized services to obtain information about the blockchain.

Because of that, they were unable to support subdomains, secondary name servers, or any DNS records set on a custody provider.

That’s still ok, because many Handshake rootnames (TLDs) can be got affordably so it can be commercially feasible for owners to apply the name to one single use, rather than trying to scale value from it by generating secondary names off it.

For example, 9ja Cosmos recently acquired the name .tanx  We got it sufficiently cheaply that we can just label the gateway to a website or other ecosystem as ‘tanx’ . We don’t need to make 9jacosmos.tanx or john.tanx or anything else.

So a very experienced developer in the community, Derrick Hammer, has just got funding, which includes a workable salary for himself, to cover the whole of 2024.

This has the potential to cover what Skynet did and more. 9ja Cosmos is looking forward to taking up a presence on Lume Web.

Additional Perspective – David Vorick – The Sia Blog ; Lume Web Discord Server

Could ERC 404 be the worst thing that’s happened to the EVM Compatible Ecosystem yet?

Constant issuing of EIPs off Ethereum just goes to show every tech generation has a leaky can that should be just kicked down the road.

Windows was the last generations piece of crap, with constant security updates you never saw with Linux, Mac OS or Unix.

If it ain’t broke, don’t try to fix it. And importantly, don’t try to delude the public that your efforts to fix it are important innovations rather than patch jobs.

The EVM Compatibility space is this tech generations leaky bucket.

404 has all the hallmarks of the biggest piece of ? yet.

Well, there is an old saying that you can’t make a silk purse out of a sows ear. Well, you can hang a silk purse on a sows ear, and it’s still a sows ear.

In this respect, I’m considering ERC 721 as the silk purse, and ERC 20 as the sows ear.

I don’t say this to be funny without substance. If we go to the Ethereum Github we read:

“The goal of ERCs is to standardize and provide high-quality documentation for the Ethereum application layer.” Further, “Before you write an ERC, ideas MUST be thoroughly discussed on Ethereum Magicians or Ethereum Research. Once consensus is reached, thoroughly read and review EIP-1, which describes the EIP/ERC process.”

This is where I have respect for ERC 721, because it was one of only a few ERCs that follow Ethereum’s own development standards.

ERC 404 has proceeded with none of the checks and balances, and without any documentation or buy-in from the wider community.

Paul Dylan-Ennis, a lecturer and assistant professor in the College of Business at the University College Dublin and author of a book covering Ethereum governance called it – ‘ the cheapening of what is traditionally seen as off-limits, the development process of Ethereum itself’

Laurence Day, a well-known Ethereum Dev said: “I’m so sorry but slapping ‘experimental’ on an ERC to subvert the fact that this is something that has no consensus over design …. and is showing us up as mercenary ‘shitcoiners’  …  I can’t and don’t want to defend.”

So I guess ERC 404 will be released into the wild, greedy service providers will maximise it to the detriment of the end consumer, hackers will feel they’ve got everybody’s religious holiday, everybody’s independence day, everybody’s new year, and everybody’s birthday, rolled up into one big over gluttonous gorging session just for them, and everyone close to destitution, who takes that 100/1 shot to make life better for themselves (but shouldn’t), will get screwed.

And after all that, they will do a field test review of the protocol to see if it’s worth adopting formally!

Wonderful.

Additional Perspective  – Thomas Vogel ; Coindesk