Day: July 21, 2023

Africa-Focused DeFi Platform Mara Releases Testnet for Upcoming Layer 2

“Blockchain technology has become a necessary utility and infrastructure that is critical and essential to the development of every country, similar to electricity or the internet,” said Chi Nnadi, CEO of Mara, in an email to CoinDesk. “Opportunities abound in Africa that can be harnessed using blockchain as a technology to deliver widespread utility for African people.” Original Source AfricaFocusedDeFiLayerMARAPlatformReleasesTestnetUpcoming CryptoX Portal

Wholesale CBDC Would Improve Cross-Border Payments, Banque de France Tests Show

“Through these experiments, the Banque de France shows the operational feasibility and practical implementation of the three models it has conceptualized for issuing wCBDC directly on DLT [distributed ledger technology],” the central bank said, adding that different types of DLT were used to test applications in asset tokenization and the improvement of cross-border transactions. Source

Solana network reports 100% uptime with only 1 outage in Q2

The Solana Foundation reported 100% uptime since February, a significant improvement compared to last year’s outages. According to the performance report released on July 20, Solana improved uptime and the ratio of voting-to-non-voting transactions. Since Feb. 25, the network has achieved 100% uptime, marking a quarter without outages. This is a significant improvement from a single outage in February that knocked the network offline for nearly 20 hours. Solana network’s monthly uptime for H1, 2023 | Source: Solana In the past years, Solana has been grappling with issues concerning reliability…

Cerebras Systems secures $100M AI supercomputer deal with UAE’s G42

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Cerebras Systems has announced the signing of a deal worth around $100 million with G42, a technology group based in the United Arab Emirates (UAE). The agreement entails providing the initial installment of an artificial intelligence (AI) supercomputer, with the possibility of delivering up to nine more units, the company said in a statement on July 20.  Cerebras, headquartered in Silicon Valley, said G42 has committed to acquiring three of its Condor Galaxy systems, an innovative network comprising nine interconnected supercomputers. The first supercomputer in this network, known as Condor…

US DoJ accuses FTX founder of leaking private diary of Caroline Ellison

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The United States Department of Justice (DoJ) filed a complaint against FTX founder Sam Bankman-Fried (SBF), accusing him of leaking the private papers of Caroline Ellison, who was once his business ally and romantic partner. In a new complaint filed on July 20, the DoJ accused Bankman-Fried of an attempt to interfere with a fair trial by publicly discrediting Ellison, who became a government witness in SBF’s case in late 2022. SBF sought to publicly discredit a government witness by sharing her personal writings with a reporter so that those…

Indonesia’s Long Awaited Crypto Exchange, Clearing House Starts Operations

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“The establishment of exchanges, clearing houses and managers of crypto asset storage is proof that the government is present in an effort to create a fair and fair crypto asset trading ecosystem to guarantee legal certainty and prioritize protection for the public as customers,” Didid Noordiatmoko, head of the Indonesian Commodity Futures Trading Supervisory Agency (Bappebti), said in a statement to the press. Source

Bitcoin Bollinger Bands echo move that ended in 40% January gains

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Bitcoin (BTC) is lining up a burst of volatility that could rival its 40% January gains, on-chain data suggests. In the latest edition of its weekly newsletter, “The Week On-Chain,” analytics firm Glassnode revealed the tightest Bollinger Bands since the start of 2023. BTC price due “strong moves” — but direction unknown BTC price has acted in a tight range for an entire month, using $30,000 as a focal point for sideways behavior. This, popular analyst Aksel Kibar says, is putting both bulls and bears to the test. “Seems like…

Exploring how crypto loans can benefit businesses and individuals

Cryptocurrencies are transforming lending practices. Crypto loans, or digital asset-backed or blockchain-based loans, can offer businesses and individuals perks that traditional lending mechanisms often struggle to provide.  Access to liquidity One of the primary advantages of crypto loans is their ability to provide quick access to liquidity. Traditional loan processes can be cumbersome and time-consuming, involving extensive paperwork and credit checks. In contrast, crypto loans leverage blockchain technology and smart contracts, enabling borrowers to access funds swiftly. This accessibility is particularly beneficial for businesses requiring immediate capital for operational expenses,…