Search Results for: SWIFT

Anoma Foundation is advancing with privacy-focused blockchains by creating a standalone blockchain for Namada protocol. Namada, founded by Awa Sun Yin, features zero-knowledge cryptography, facilitating private transactions across Ethereum or Cosmos networks. It can embed privacy features in any digital asset and decentralized apps without altering their original code.

A beauty salon in Yekaterinburg, Russia, recently accepted its first digital ruble payment, pioneering the use of Russia’s Central Bank Digital Currency (CBDC) in the commercial sector. This case has sparked optimism that digital currency could offer unique payment solutions, even in areas with limited or no internet access.

In its first significant mishap, Ethereum Layer 2 network, Base, experienced an outage halting new block production. Despite quick repair and recovery, concerns about the reliability of such newer networks have been raised. The future of blockchain may be promising, but these newer platforms must work on technical robustness and gaining users’ trust. Meanwhile, Genesis Global Trading announced the voluntary cessation of its spot trading services, reflecting the stiff competition and constant evolution in the crypto market.

“VISA has enhanced its stablecoin settlement ability with Circle’s USDC stablecoin on the high-speed Solana blockchain, making it one of the first financial institutions to harness Solana for scaled settlements. VISA’s integration of stablecoins like USDC on global blockchain networks aims to improve international settlements speed and give clients a modern option to conveniently transact funds.”

“Decentralized Autonomous Organizations (DAOs) aim to balance efficiency and decentralization, akin to political organizations. Despite their distinct advantages, DAOs often face challenges like flawed governance, communication issues, and skewed participation leading to diluted long-term objectives. Strategies from politics, including electing representatives and preference-based decision-making, could be instrumental in overcoming these drawbacks.”

London Stock Exchange (LSE) Group is aiming to revolutionize traditional asset trading with the incorporation of blockchain technology. This new system proposes a smoother, cheaper, and more transparent process for handling traditional assets, ensuring reliability for investors. However, the integration faces hurdles, including security concerns and effectiveness of legacy systems with new technologies.

“StarkWare and Herodotus have launched proprietary technology enabling users to verify data from any point in Ethereum’s blockchain history. This new technology, using on-chain accumulator and STARK proving technology, enhances blockchain access, speeds up data verification and could revolutionize Ethereum-based applications and services.”

Likou, a town in China’s Jiangsu Province, aims to become a “demonstration town” for the digital yuan, following a pact with the Postal Savings Bank of China. The project’s objective aligns with China’s intent to use the digital yuan to address its unbanked population, with the town also expected to adopt green and smart city technology.

“StarkWare, the firm behind Ethereum scaling solution Starknet, recently announced its decision to release an estimated $550,000 worth of cryptocurrency caught in a system upgrade. This highlights the complexity and potential vulnerability within the swift progress and innovation of the blockchain ecosystem.”

yPredict successfully secured $3.66 million for its native token, $YPRED, bridging traditional statistics and AI to offer unprecedented trading insights. Not exclusive to experts, yPredict democratizes data science with a subscription-based Prediction Marketplace, disrupting hedge funds’ hold on quantitative analysis and promoting wider access to data-backed trading strategies.

Ethereum’s congestion problem might be calming with the help of “layer-2” projects designed for faster, more affordable transactions. Base, a layer-2 project from Coinbase, may demonstrate this effectiveness, as Ethereum’s gas fees have significantly dropped, likely due to layer-2 solutions. Ethereum’s upcoming upgrade, EIP-4844, could further maintain this balance by increasing L2 throughput and reducing transaction costs. However, Ethereum’s future remains uncertain, as the effectiveness of layer-2 projects to resolve scalability issues is yet to be seen.

Bitcoin miners, against popular belief, are actually evolving to become beneficial players in grid optimization and the ongoing green transition. They leverage underutilized renewable energy sources, partake in grid-flexibilization initiatives and provide a unique capability for swift power usage adjustments. They suggest new strategies for energy-intensive industries to navigate the renewable energy landscape.

“Interlay recently unveiled its Minimum Viable Product (MVP), the Build on Bitcoin (BOB) solution, designed to link Ethereum blockchain advancements with Bitcoin’s user community. BOB will enable decentralized application development, leveraging Rust smart contracts compatible with Bitcoin legacy libraries, while also supporting Ethereum Virtual Machine. Despite concerns from some Bitcoin advocates, the Interlay team remains optimistic about broadening Bitcoin’s applicability.”