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The U.S. House Committee explores blockchain and Web3’s future as industry leaders testify on democratizing the internet and regulatory challenges. The United States House of Representatives Energy and Commerce Committee’s Subcommittee on Innovation, Data and Commerce gathered to discuss blockchain technology and the future of Web3 on June 7. Crypto industry members, including Polygon Labs president Ryan Wyatt and several legal experts, appeared before the committee to engage in what transpired to be a constructive dialogue.  This meeting was held just after the SEC announced back-to-back lawsuits against major crypto exchanges Binance and Coinbase. In Wyatt’s testimony, he discussed the potential of blockchain technology and its value to users, and the benefits of building a healthy and well-regulated blockchain ecosystem in the United States. Wyatt began by addressing the fundamental problem blockchains solve — the “value extraction” problem on the internet. He explained that in...

Celo president Rene Reinsberg believes Web3 adoption will require more block space and that Celo will be what the majority will choose on smaller screens. On Episode 10 of Cointelegraph’s Hashing It Out podcast, Celo president Rene Reinsberg joins Elisha Owusu Akyaw (GhCryptoGuy) to discuss the regenerative finance (ReFi) movement, which focuses on the building blocks of decentralized finance (DeFi) and the principles of regenerative economics. Reinsberg also explains how Celo intends to stay relevant in the multichain world of layer-1 blockchains and layer-2 networks.  The blockchain world is getting crowded, with multiple layer-1 blockchains launching and layer-2 networks becoming more popular. Reinsberg said the layer-1 Celo blockchain is not worried about the increase in options for users — instead, it sees it as an opportunity to bring more people into crypto. Regardless, to set Celo apart from other networks, the team has added elements that improve its mobile experience. Ac...