10 August 2023

Generative Art Platform Fxhash Secures $5M in Seed Funding Round Led by 1kx

The Seed Round Fxhash, the groundbreaking generative art platform and marketplace, has successfully closed an oversubscribed $5 million seed fundraising round. Spearheading this investment initiative was 1kx, an early-stage crypto-focused venture capital firm renowned for its strategic ecosystem growth investments. Founded in 2021, Fxhash has emerged as the...

Tezos Foundation Backs Blockscout to Enable Etherlink Exploration, RedStone Oracles Integrates for DeFi Expansion

In a significant stride toward enhancing the Tezos ecosystem, the Tezos Foundation has extended its support to Blockscout, a reputable open-source block explorer. This backing aims to fortify Etherlink, a prominent EVM-compatible Layer-2 blockchain built on Tezos, by providing a dedicated mainnet and testnet block explorer. Concurrently, RedStone Oracles has integrated into the Etherlink ecosystem, heralding a new era of DeFi expansion.

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Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.

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In a significant stride toward enhancing the Tezos layer 2 ecosystem, the Tezos Foundation has extended its support to Blockscout, a reputable open-source block explorer. This backing aims to fortify Etherlink, a prominent EVM-compatible Layer-2 blockchain built on Tezos, by providing a dedicated mainnet and testnet block explorer. Concurrently, RedStone Oracles has integrated into the Etherlink ecosystem, heralding a new era of DeFi expansion.

Blockscout: Empowering Etherlink’s Exploration

The Tezos Foundation’s support for Blockscout marks a pivotal moment in Etherlink’s evolution. Blockscout, trusted by over 800 networks across EVM blockchain ecosystems, offers comprehensive exploration features crucial for seamless search and verification of blocks, transactions, addresses, contracts, and more. By backing Blockscout’s integration with Etherlink, the Tezos Foundation underscores its commitment to advancing infrastructure development within the Tezos ecosystem, aiming to enhance accessibility and user experience for developers and users alike.

“Blockscout is an open-source, transparent block explorer trusted by over 800 networks across EVM blockchain ecosystems,” stated the Tezos Foundation. “It allows seamless search and verification of blocks, transactions, addresses, contracts, and more.”

Blockscout’s full-featured block explorer option, supporting mainnets, testnets, optimistic, and ZK rollups, offers a versatile exploration tool for all EVM-based chains. This integration will give uses visibility and transparency on all kinds of interactions using Etherlink.

RedStone Oracles: Paving the Way for DeFi on Etherlink

In tandem with Blockscout’s integration, RedStone Oracles has entered the Etherlink ecosystem, marking a significant milestone for DeFi on Tezos. Leveraging Tezos with EVM compatibility, Etherlink prioritizes decentralization and efficiency, offering subsecond block times and minimal fees. RedStone’s integration provides Etherlink with real-time, accurate data feeds crucial for smart contract and dApp operations, enhancing the functionality and reliability of DeFi projects on Etherlink.

The partnership between RedStone Oracles and Etherlink promises to unlock new possibilities in financial applications, from lending and borrowing platforms to complex financial derivatives. “The integration of RedStone Oracles into the Etherlink ecosystem marks a pivotal moment for DeFi on Tezos,” emphasized RedStone. “Our oracles will provide Etherlink with real-time, accurate data feeds essential for the optimal operation of smart contracts and dApps.”

By empowering developers with reliable and timely data, Etherlink becomes an even more attractive platform for building the DeFi ecosystem. The collaboration between Blockscout and RedStone Oracles not only strengthens the Etherlink ecosystem but also propels Tezos further into the realm of layer 2 powered decentralized finance.

Etherlink Continues To Expand Partnerships

The Tezos Foundation’s backing of Blockscout and the integration of RedStone Oracles into the Etherlink ecosystem signify a significant leap forward for the Tezos layer 2 ecosystem. As Blockscout enhances Etherlink’s exploration tools and RedStone Oracles enriches its DeFi capabilities, users can anticipate further advancements that will foster a more robust and inclusive ecosystem on Tezos.

Disclaimer

Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.

Read our full disclaimer here.

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