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BNBChain has launched its safe multi-signature wallet service, BNB SafeWallet. It is based on the Gnosis Safe protocol and runs on the BSC network and opBNB.  According to BNBChain’s blog post, the launch of Gnosis Safe Multisig on the Binance Smart Chain is a milestone in enhancing security for the BSC network and beyond.  Gnosis Safe, a smart contract wallet , boasts core multisig functionality, enabling advanced execution logic, access management, and high security. The protocol supports various wallets controlled by one or multiple owners for wallet security. BNBChain’s Safe multi-signature wallet service, utilizing the Gnosis Safe protocol, provides a storage solution for digital assets.  Users can define owner accounts and a database threshold number of confirmations required for transactions, ensuring security measures. To access the BNB Chain multi-signature wallet service, users must initially create a Safe, the team says. Gnosis Safe is a decentralized...

One of the most notable results of self-custody is that it tends to decrease circulation, which in turn reduces the market cap. There is no way to measure the amount of Bitcoin (BTC) that is being sent to self -custody wallets so far, according to one industry executive. Amid the ongoing FUD over lawsuits against major cryptocurrency exchanges, investors have been increasingly offloading their Bitcoin from crypto trading platforms. As of mid-June, Bitcoin’s exchange supply fell to its lowest level since February 2018, according to data from the crypto intelligence platform Santiment. The massive exchange outflows have been triggered by the growth of self-custody fueled by uncertainty around Binance and Coinbase, Santiment said. BTC supply on exchanges since June 2017. Source: Santiment The growing self -custody trend has a massive impact on cryptocurrency markets, Santiment’s head of marketing Brian Quinlivan told Cointelegraph on June 15. One of the most notable results of self -c...

From being an inventory system for gaming to being used in DAOs, Future Primitive’s Jayden Windle and Benny Giang spoke about use cases for ERC-6551. Developers have recently published an Ethereum Improvement Proposal (EIP) that introduces a new way to use nonfungible tokens (NFTs). With this system, all NFTs can have a smart contract account, allowing them to store other NFTs or crypto tokens.  Cointelegraph spoke with Future Primitive’s Jayden Windle and Benny Giang, the authors of EIP-6551, to explain the use cases of ERC-6551 and its implications for the crypto space. Jayden Windle and Benny Giang explains ERC-6551. Source: Cointelegraph  According to Windle, while there are a lot of complicated workings behind the feature, the simple way to explain it is that they are giving NFTs their own crypto wallets. He explained: “The real simple idea behind the ERC-6551 is that every NFT has a wallet. So, your NFT has a full wallet that your NFT owns. That means your NFT can own any asse...