Day: October 18, 2023

Blockchain innovation or dangerous house of cards? – Cointelegraph Magazine

Ethereum restaking — proposed by middleware protocol EigenLayer — is a controversial innovation over the past year that has some of the brightest minds worried about the potential ramifications. Restaking involves reusing staked or locked-up Ether tokens to earn fees and rewards. The restaked tokens can then help secure and validate other protocols.  Proponents believe restaking can squeeze additional security and rewards from already staked ETH and grow the crypto ecosystem in a healthier way based on Ethereum’s existing trust mechanisms. Restaking could serve as a security primitive for exporting…

Central banks want to look under crypto’s hood — Is this a positive sign?

boss

The Bank for International Settlements’ (BIS) Project Atlas report offers yet another indication that the worlds of crypto and traditional finance may be converging. On the surface, this proof-of-concept project backed by some of Europe’s biggest central banks — like German central bank Deutsche Bundesbank and Dutch central bank De Nederlandsche Bank — seems modest enough: securing more crypto-related data, like cross-border Bitcoin (BTC) flows. But the mere fact that these giants of the incumbent financial order now want such information suggests that crypto assets and decentralized finance (DeFi) applications…

LidoDAO Records Overwhelming 92% Votes To Exit The Solana Network

boss

In a recently concluded voting program, it was revealed that over 92% of LidoDAO members (Lido token holders) of the decentralized liquid staking protocol Lido Finance, voted in favor of Lido ceasing its operations on the Solana Network. LidoDAO Cut Ties With The Solana Network Following Community Vote The proposal was first introduced by Lido on Solana’s peer-to-peer (P2P) team on September 5, due to financial limitations. Following the introduction, the voting program began on September 29, 2023, and was concluded a week later on October 6.  The P2P team…

UK tops crypto activity in Central, Northern and Western Europe: Chainalysis

boss

The United Kingdom has emerged as a major cryptocurrency economy worldwide and the biggest crypto country in terms of raw transaction volume in Central, Northern and Western Europe (CNWE), according to a new study. The blockchain analytics firm Chainalysis released two new chapters of its 2023 Geography of Cryptocurrency report on Oct. 18, including its brand new CNWE study and the second edition on Eastern Europe. According to the CNWE-focused report, the region was the second-largest crypto economy in the world over the past year, behind only North America. The…

Shiba Inu Themed Floki Takes Steps to Become More Valuable

“Users will be able to earn the reward token by locking up their FLOKI tokens for a period of between 3 months to 4 years,” B said in the DAO proposal shared with CoinDesk. “We envision this resulting in a significant portion of FLOKI tokens being locked up for an extended period of time, which will significantly reduce the amount of FLOKI tokens in circulation and add significant value to the FLOKI token.” Source

UK to Host Inaugural International Summit on AI Safety in November

The discussions during the summit will address the unpredictable nature of AI progress and the critical importance of maintaining human control over its development. The UK is gearing up to host the world’s inaugural international summit on artificial intelligence (AI), focusing on the existing threats associated with this rapidly advancing technology. The two-day event will commence next month from November 1st until the 2nd with the aim of positioning the UK as a mediator between global powers such as the United States, China, and the European Union in the post-Brexit…

Foxconn Joins Hands with Nvidia to Build AI Factories

The two chipmaking giants will work on building AI factories for electric vehicles where Nvidia plans to use its own chips and software for the development. Two chip-making giants – Foxconn and Nvidia Corp (NASDAQ: NVDA) – have finally come together to build “AI factories” and data centers for a range of applications including self-driving cars. The announcement came earlier today Wednesday, October 18. Foxconn Chairman Liu Young-way and Nvidia CEO Jensen Huang announced at Foxconn’s annual tech showcase in Taipei that their companies will collaborate to construct “AI factories”.…

DLT Pilot for TradFi Securities Trading Rules Are Here to Stay, EU Official Says

The new legislation “is here to stay,” as, despite a review due to take place after three to six years, legally speaking the current, lighter rules will continue to apply by default, said Keller, who is at the commission’s Securities Market Unit. “It’s very unlikely that the DLT pilot would be discontinued.” Source DLTOfficialPilotRulesSecuritiesStayTradFiTrading CryptoX Portal

Bitget U30 Hackathon Recognizes Budding AI and Blockchain Innovators

Bitget, a renowned cryptocurrency derivatives and copy trading platform, celebrated the triumphant teams of its Under 30 Virtual Hackathon on October 16, 2023. This venture is a part of the Blockchain4Youth CSR program aimed at fostering young talents in AI and blockchain technology. The hackathon commenced on August 12 and concluded on September 24, 2023, spotlighting remarkable innovations in AI and blockchain arenas. The U30 Hackathon was executed with the concerted effort of Bitget alongside industry frontrunners such as Bitget Wallet, Foresight Ventures, and HackerEarth. A significant prize pool of…