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This is a historic day because blockchain technology is about to enter a revolutionary new age. Launching soon, the much awaited CMN Blockchain is expected to open a new era that might redefine trust, transform industries, and help create a sustainable future. Come explore the main characteristics, possible effects, and anticipation surrounding the formal launch of CMN Blockchain. https://cmnnews.live/unveiled-cmn-blockchain/
#CMNBLOCKCHAIN
#CryptoMediaNetwork #CMNNEWS.live #CMNNEWS

In 2023, Solana has surged by 330%, driven by a booming decentralized exchange (DEX) trading volume, outpacing BSC Chain. The current SOL token price is $59, with anticipated growth.
Cardano (ADA) is on the rise, with a new Web3 media platform, Cardano Spot, emphasizing community-driven projects. ADA's staking activity and decreased circulating supply are boosting prices, with a projected value of $0.37.
eTukTuk, in its presale stages, aims to revolutionize sustainable transportation using blockchain and AI. With $TUK-powered electric vehicles and affordable charging stations, it addresses environmental concerns, providing solutions in developing countries. The project also focuses on creating revenue-generating opportunities for stakeholders.
#Solana📈🚀🌐 #DEXs #cardano

Recently, dYdX disclosed a deliberate intrusion into their YFI token market as well as tampering with market dynamics. The case was made public by dYdX founder Antonio Juliano, who also pinpointed the hack’s weakness. The $9 million from the dYdX v3 insurance money was utilised by the dYdX team to lessen the effects of the attack. This action was taken to make up for shortages brought on by the liquidations of the YFI token. dYdX guaranteed everyone’s security that no one’s fund was lost during the incident, despite the substantial amount of money taken out of the insurance fund.
dYdX responded to this security compromise right away on Twitter, stating that the team was looking into the incident and that no user funds were impacted. dYdX reports that the insurance fund still has $13.5 million in assets despite this significant decrease.
Antonio Juhuliano stated that this was a deliberate attack against DYDX in relation to the incident. This strategy suggests that the attackers were aware of the dYdX system’s limits and had looked into its vulnerabilities, which they exploited.
dYdX intends to assess its risk parameters in light of this security vulnerability. But this study will go beyond only the v3 software and address the core dYdX Chain software as well. This fortifies the security mechanism and makes the platform more resilient to assaults in the future.
An hour after that incident, the dYdX token dropped by over 7% on the revelation. Market security incidents highlight how crucial it is to protect a decentralized platform from intrusions in order to maintain users’ confidence.
The dYdX team thoroughly investigates every facet of the targeted attack as part of the continuing inquiry. Upholding its dedication to openness, the platform has been updating users on the progress of this inquiry and the implementation of new safety precautions.
This incident shows how challenging and unpredictable the Bitcoin community may be at all times for decentralized exchanges. This means that the number of these platforms is steadily increasing. They are vulnerable to being used by malevolent adversaries. The dYdX places a high priority on protecting user assets and enhancing system resilience, as seen by the proactive approach it took to resolve this issue, the usage of the insurance fund, and its commitment to enhancing security standards.
In conclusion, there is always an opportunity for improvement when it comes to decentralized platform security. As a result, the events that follow will most likely lead to increased collaboration among members of the cryptocurrency community in order to improve the overall security posture of decentralized exchanges.

https://cmnnews.live/according-to-dydx-founder/

With the successful launch of its permissionless mainnet, Pyth Network will be able to introduce token-led governance for the protocol in the future. Users participating in the ecosystem will now be able to communicate with Pyth Governance by blocking their PYTH tokens via the Pyth staking programme. Voting on proposals for community governance will be available to users.
Important protocol concerns related to on-chain governance include the data suppliers’ incentive scheme, the amount and cost of the oracle fees, and the ability to register price feeds on the network.
Contributors to Pyth Network envision transferring global financial data to blockchain technology. The network requests data for their protocol from leading financial institutions and decentralised businesses in order to do this. For the advantage of developers of decentralised applications, the Pyth Oracle is in charge of gathering the information needed to reliably and safely publish the pricing on-chain.
Pyth Network provided the permissioned mainnet in August 2021. Due to financial constraints, they set growth and protocol maximisation as their goals. Two years later, the network solved over 230 dApps, had over 40 blockchains, and collected data from 90 data sources. Pyth Network has now moved to its mainnet stage, which is permissionless.
Token owners will have the opportunity to propose, debate, and vote on protocol-related issues through on-chain governance, which will serve as the mechanism for supporting protocol changes. The Pyth Network ecosystem will make decisions collectively thanks to on-chain governance. This will bring together a wide range of stakeholders, including financial institutions, framework providers, and consumers of DeFi in addition to decentralised apps.
Holders of Pyth tokens can participate in the governance process of Pyth Network. To vote on proposals for community governance, token owners must stake their tokens in the Pyth staking programme. Every staked token casts one vote under the governance’s 1:1 coin voting system.
Every week, Pyth Governance conducts its business. Voting access is awarded to tokens that are staked at the beginning of the next term. Tokens that are not staked need to cool down for a week in order to be withdrawn. The vote weights are distributed equitably over the course of the epoch thanks to the epoch system. Some recommendations are implemented for a whole week using the voting weights that are relevant during that week.
Although Pyth Governance is applicable to the Pyth Network across several chains, it functions on the Solana mainnet-beta blockchain. Wormhole communications is used by the governance mechanism to communicate with Pyth contracts on several blockchains. Proposals are considered approved if the majority of voters concur.
As long as they meet the membership conditions, ecosystem participants that stake tokens to take part in Pyth governance are qualified to join Pyth DAO LLC.
Pyth DAO is creating a non-profit limited liability company with algorithmic control. In the near future, the Republic of the Marshall Islands will incorporate Pyth DAO.

https://cmnnews.live/pyth-network-launches-a-mainnet-without-permissions/

Kazakhstan formally unveiled the digital tenge, its central bank digital currency (CBDC), which functions in a restricted setting with actual users. The pilot programme was started by the National Bank of Kazakhstan in coordination with second-tier banks and their customers. Plans to create a CBDC in the Central Asian nation date back to 2021, but the government didn’t really start working on it until February of this year.
A major milestone was reached when Binur Zhalenov, Chairman of Kazakhstan’s National Payment Corporation (NPC), carried out the first-ever retail transaction with the digital tenge via a debit card connected to the CBDC account. The integration of digital tenge on cards is being supported by Visa and Mastercard, two of the biggest payment companies in Kazakhstan. Zhalenov emphasised the flexibility of the digital tenge in relation to financial services, digital asset exchanges, and smart contracts. The development of CBDC will soon concentrate on integrating cross-border trade by 2025 and facilitating offline payments by 2024. By the end of 2025, the digital tenge is expected to have been fully implemented.
According to research, the value of CBDC payments is predicted to increase from just $100 million in 2023 to $213 billion yearly by 2030. By 2030, 92% of the entire value transacted via CBDCs is expected to be paid domestically, according to a Juniper Research analysis. The main objective of Banco Central do Brasil’s central bank digital currency (CBDC), which is anticipated to be deployed in 2024, is to improve financial services in the nation. In contrast, Digital Euro is scheduled for completion by the end of 2025. The initiative has entered the preparatory stage after a two-year research phase, as confirmed by the ECB Governing Council.
https://cmnnews.live/cbdc-in-a-restricted-setting/

Sam Altman, the former CEO of OpenAI, has been invited by Cardano founder Charles Hoskinson to take part in a decentralised large language model (LLM) initiative associated with the Cardano partnerchain. Cardano had previously declared that Polkadot stack would be used in its partnerchain. Altman, who was just fired from OpenAI, is receiving the invitation from Ethereum co-founder Charles Hoskinson.
Charles Hoskinson was invited after Sam Altman was sacked by the OpenAI board, according to Reuters. Mira Murati, the chief technology officer of OpenAI, will take over as acting CEO in the interim as the business looks for a long-term replacement. The board conducted a review process after which Altman left, claiming that their duties were hampered by inconsistent communication.
After Altman was fired, Greg Brockman, the president and co-founder of OpenAI, left the firm. Many staff, including Altman and Brockman themselves, were taken aback by the abrupt changes in management. They were informed of the decision only before it was made public. Ilya Sutskever, Chief Scientist of OpenAI, and three other independent members make up the company’s current four-person board. The company has not responded to Brockman’s allegations with any more remarks. With the release of ChatGPT last November, OpenAI, with major investment from Microsoft, led the way in the generative AI sector. ChatGPT immediately became one of the fastest-growing software products globally.
https://cmnnews.live/expelled-openai-ceo-sam-altman-is-invited-by-cardano/

According to a research by the Bank for International Settlements (BIS), stablecoins are devoid of crucial components that guarantee the stability of the money market for fiat currencies. The paper contends that private stablecoins would be inferior to an operational model that grants a central bank regulatory authority. The authors examined the shortcomings of stablecoin settlement systems using a “money view” of stablecoins and a comparison with onshore and offshore USD settlement.
Through three’superficial’ mechanisms—reserves, overcollateralization, and/or an algorithmic trading protocol—stablecoins are kept on level with the US dollar. Stablecoins, whether they rely on reserves or an algorithm, erroneously believe that their liquidity indicates their solvency, according to the study. Furthermore, the fiat money market is inextricably linked to reserves, which links stablecoin stability to fiat money market circumstances. Stablecoins lack the onshore and offshore systems that are in place to maintain bank liquidity during economic hardship.
According to the report, the Regulated Liability Network offers a model remedy for the problems that stablecoins encounter. This paradigm places all claims inside a regulatory boundary and settles them on a single ledger. According to the authors, this would involve the central bank and have legitimacy that current private cryptocurrency stablecoins do not. Stablecoins have been receiving more attention from the BIS, which released a report earlier in November that looked at instances of stablecoins losing their pegged value. This emphasises the expanding significance of stablecoins in the financial industry, as does legislative focus in the US, the UK, and the EU.
https://cmnnews.live/stablecoins-lack-essential-mechanisms/

On November 16, Andrew Yang, the creator of the Forward Party and a past contender for the US presidency, appeared at the North American Blockchain Summit (NABS) in Fort Worth, Texas. Yang voiced worries on the US government’s regulation of artificial intelligence (AI) and the lack of adoption and public perception of blockchain technology.
As a self-described ‘enormous believer in smart money, smart currencies,’ Yang expressed disappointment about the current level of blockchain and Web3 technologies in the US. He thinks businesses may decide to relocate abroad as a result of this. Yang recommended that in order to prevent this, blockchain’s beneficial applications should be shown to be able to address issues that the American people face. He added that there is still more to learn about how blockchain technology might be used to fight poverty.
Yang also expressed reservations about the US government’s AI strategy, describing it as “fairly limited, maybe even incoherent,” in addition to blockchain. He signed an open letter with 2,600 other tech executives and researchers urging a stop to training AI systems more potent than GPT-4. Yang also emphasised how artificial intelligence may have an impact on politics by changing public life and campaigns. He attacked the “winner-take-all” economy, which he claimed could widen already-existing rifts in American politics, and the regulatory approach taken by the United States, which he compared to waiting for a catastrophe to strike before acting.