This week saw notable deals in technology and finance, with major investments in AI, Web3, and cryptocurrency. SoftBank announced plans to invest nearly $1 billion in its generative AI infrastructure, with a focus on Nvidia’s chips, aiming to create a Japanese-language AI model by 2025. In the crypto realm, Shiba Inu secured a $12 million investment from leading venture capitalists to launch a new “layer three” blockchain, solidifying its position in decentralized finance (DeFi). Additionally, Fidelity’s Bitcoin ETF gained $40 million from two traditional U.S. financial advisers, marking the largest single investment in a Bitcoin fund. These developments illustrate the growing momentum and cross-industry interest in AI, crypto, and Web3.

SoftBank Invests Nearly $1 Billion in Cutting-Edge AI Push, Utilizing Nvidia’s Advanced Chips to Develop World-Class Generative AI Models by 2025 in Japan

SoftBank, the Japanese tech conglomerate, is set to invest nearly $1 billion to accelerate its push into the generative artificial intelligence (AI) space, with a significant focus on Nvidia’s advanced chips, according to sources. The company plans to spend 150 billion yen ($960 million) by 2025 to strengthen its computing infrastructure and kickstart the development of a world-class Japanese-language generative AI model. The investment is poised to make SoftBank a key domestic player in Japan’s burgeoning AI market, where the company aims to develop an advanced large language model (LLM) with 390 billion parameters by 2024. This ambitious move comes as international tech giants like OpenAI and Microsoft are also expanding their AI presence in Japan.

Crypto VCs Invest $12 Million in Shiba Inu’s New Blockchain, TREAT Token to Drive DeFi Expansion

Shiba Inu (SHIB), the popular memecoin, is making a significant leap into decentralized finance (DeFi) with a new “layer three” blockchain backed by a $12 million investment from leading crypto venture capitalists. This funding round, involving Animoca Brands, Big Brain Holdings, Mechanism Capital, DWF Ventures, and Spirit Dao, is set to propel SHIB’s ecosystem with the launch of TREAT, a utility and governance token designed to support the nascent blockchain network. The TREAT blockchain, built on Shibarium’s layer-2 platform, is positioned to enhance SHIB’s utility and provide innovative privacy features through “Fully Homomorphic Encryption” (FHE), allowing secure data processing without decryption.

1/ Today’s a HUGE day for us, #SHIBARMY! We’re thrilled to announce that we’ve secured a monumental $12M from strategic VC partners led by @cypher_capital to unleash our next-gen Fully Homomorphic Encryption (FHE) blockchain via $TREAT — the final non-stable token in the… pic.twitter.com/OqUIUDjmTf

— Treat (@treatsforShib) April 22, 2024

Fidelity’s Bitcoin ETF Gains $40 Million from Traditional Financial Advisers

Legacy Wealth Management and United Capital Management of Kansas have contributed a record $40 million to Fidelity’s Bitcoin exchange-traded fund (ETF), the Wise Origin Bitcoin Fund (FBTC). It was the largest single investment in a Bitcoin fund, with each contributing $20 million. This large money inflow is indicative of conventional finance’s rising interest in bitcoin assets. Though Jim Bianco of Bianco Research points out low mainstream engagement, Bloomberg analyst Eric Balchunas interprets it as an indication of wider acceptance. With net withdrawals of $36.7 million on April 15, Bitcoin ETF interest is slowing down despite the $40 million commitment.

We have new high water mark for investment into one of the bitcoin ETFs: two dif advisors each put in $20m to $FBTC, one is from Kansas and the other Minnesota. The % of portfolio is also pretty high at 6% and 5% respectively. This edges out the $17m an advisor put in $IBIT pic.twitter.com/A5y58NuFoe

— Eric Balchunas (@EricBalchunas) April 23, 2024

The post This Week’s Top Deals, Major Investments in AI, IT, Web3, and Crypto (22-26.04) appeared first on Metaverse Post.

Ethereum co-founder Vitalik Buterin shared a post on the social media platform X addressing discussions surrounding Ethereum’s shift from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus system.

X users observed that many members of the Ethereum community expressed a preference for the network to remain with a PoW consensus mechanism instead of transitioning to PoS.

However, Vitalik Buterin countered this sentiment, stating that PoW also had significant centralization issues, albeit less discussed, as it was considered a temporary stage before transitioning to PoS. “And that doesn’t even get into how we probably mostly avoided ASICs only because the upcoming PoS switch meant no incentive to build them,” said Vitalik Buterin.

He then shared a pie chart depicting Ethereum PoW mining pools. The chart indicated that SparkPool, now closed, held the largest share at 33%, followed by Ethermine at 21% and F2Pool at 11%. Other pools included Nanopool with 8% and zhzhu.top with 4%, among others, making up the remaining 23%.

PoW was also quite centralized. It was just not talked about as much, because everyone knew it was only a temporary stage until PoS.And that doesn't even get into how we probably mostly avoided ASICs only because the upcoming PoS switch meant no incentive to build them. pic.twitter.com/OhaqmRiiGJ

— vitalik.eth (@VitalikButerin) April 26, 2024

PoW ensures the security of a decentralized ledger by tasking miners with solving intricate, energy-demanding mathematical problems to authenticate nodes and add blocks to the network. On the other hand, a PoS system relies on tokens staked to validator nodes to validate transactions.

Vitalik Buterin’s Roadmap For Network Enhancement

Ethereum underwent a transition to a PoS consensus system, a process referred to as The Merge in September 2022. This transition notably reduced Ethereum’s energy consumption by 99.5%.

In the same year, Vitalik Buterin put forward a development roadmap aimed at improving the network‘s capabilities and features. This roadmap is divided into five primary categories of upgrades, namely the Surge, the Scourge, the Verge, the Purge, and the Splurge, along with the aforementioned Merge.

However, the Ethereum Foundation opts to designate the distinct technological advancements outlined within the upgrade categories as separate elements. These upgrades include features such as danksharding, proposer-builder separation, verkle trees, and account abstraction, each treated as individual components.

After the upgrades, Ethereum is anticipated to introduce the concept of stateless validation, reduce data load for validators, and facilitate proposer-builder separation, among other numerous enhancements.

The post Vitalik Buterin Comments On PoW Centralization, Notes It Was Temporary Stage Until PoS appeared first on Metaverse Post.

Blockchain research and development firm Offchain Labs disclosed the identification of two security vulnerabilities on the Optimism testnet. The findings were promptly shared with OP Labs, the team responsible for the project development, on March 22nd. These vulnerabilities were identified within the Optimism fraud-proof system implemented by OP Labs.

Offchain Labs provided OP Labs with a demonstration exploit code to aid in the identification and comprehension of these security concerns. On March 25th, OP Labs verified the presence of these issues and coordinated the disclosure of the vulnerabilities with Offchain Labs.

As per the terms of the agreement between the two parties, Offchain Labs was required to refrain from publicly disclosing the vulnerability until it was resolved. The Optimism testnet underwent an update on April 25th, enabling the company to disclose the security vulnerabilities for the first time today.

The vulnerabilities enabled malicious entities to manipulate the fraud-proof mechanism of OP Stack to accept false chain history or prevent it from accepting the correct chain history. The issue originated from vulnerabilities in the design of OP Stack’s fraud-proof design in handling timers, leading to OP Stack’s fraud-proof system failing to improve security guarantees compared to the method relying solely on emergency intervention by the security council.

Offchain Labs Sheds Light On Challenges With Timers In Fraud-Proof Design

Offchain Labs emphasized that timers represent the most intricate aspects of the fraud-proof design. In the challenge game, an adversarial party may opt to refrain from taking any action, leading to the protocol needing to declare a timeout for a non-responsive player at some juncture. During this time-lapse, the protocol faces the challenge of discerning whether the player is genuinely experiencing censorship or is instead a bad actor pretending to be censored. Therefore, the protocol has to afford honest players adequate time flexibility to prevent losses due to censorship while also preventing malicious players from unduly delaying the protocol.

In the scenario involving Optimism, which involves numerous players participating, managing time credits is not straightforward.

The original deployment of the OP protocol on the testnet was vulnerable to traitor attacks of this nature because it permitted a traitor to acquire undeserved time credit. This vulnerability could have enabled a malicious actor to triumph in a fraud-proof game that it should have lost, potentially resulting in the acceptance of a fraudulent chain history or the rejection of a correct chain history.

Optimism operates as a Layer 2 blockchain built on the Ethereum network, utilizing Ethereum mainnet’s security features to boost scalability within the Ethereum ecosystem via optimistic rollups. The OP Stack constitutes the suite of software driving Optimism, presently supporting OP Mainnet and, in the future, evolving into the Optimism Superchain along with its governance structure. It is designed as a public resource to benefit both the Ethereum and Optimism ecosystems.

The post Offchain Labs Reveals Discovery Of Two Critical Vulnerabilities In Optimism’s OP Stack’s Fraud Proofs appeared first on Metaverse Post.

Modular blockchain for rollups, Dymension announced the launch of its open market, eIBC, which is designed to facilitate the bridging of liquidity from RollApps on the mainnet.

The eIBC protocol stands as a novel system built on IBC, facilitating rapid withdrawals from rollups.

When a rollup withdrawal is initiated through eIBC, it generates a public ‘order’ on Dymension. Individuals have the opportunity to fulfill these orders for a fee by operating an eIBC client and supplying liquidity. eIBC has the capability to fulfill orders in various tokens, such as USDC, USDT, and DYM, among others.

eIBC fulfillers promptly provide the token order and receive the user’s delayed token withdrawal along with a fee. To mitigate any potential rollback risk, fulfillers are required to operate rollup full nodes, ensuring the validity of the rollup state.

Introducing eIBC on mainnet!An open market for bridging liquidity from RollApps.Learn how to take part pic.twitter.com/Ov7RMlh7Cr

— Dymension (@dymension) April 26, 2024

What Is Dymension And What Are RollApps?

Dymension operates as a decentralized Layer 1 blockchain utilizing a Delegated Proof-of-Stake (DPoS) consensus mechanism. The network is specifically engineered to natively support rollups. This approach ensures an efficient system tailored to meet the needs of rollups. Additionally, the network includes support for IBC, facilitating connections between rollups and other IBC-compatible blockchains.

IBC (Inter-blockchain communication) serves as a message passing protocol, and functions as the  standard bridge for RollApps. Bridging is handled through the x/ibc module of the RollApp which enables minting, locking, and burning fungible tokens. RollApps come equipped with built-in bridge functionality, providing immediate access to large amount of liquidity like native USDC or USDT.

The concept behind RollApps entails that each rollup will cater to its own specific application, similar to how each Cosmos blockchain exists for its own application. However, instead of numerous application-specific blockchains, Dymension will accommodate numerous application-specific rollups, commonly referred to as RollApps.

Presently, there are 500 tokens generated and 1,000 RollApps listed on Dymension, with 13,600 deployed on its testnet. The existing RollApps cover various categories, such as gambling, gaming, and non-fungible token (NFT) applications. Dymension launched its mainnet in February.

The post Dymension’s Open Market For Bridging Liquidity From RollApps eIBC Launches On Mainnet  appeared first on Metaverse Post.

Chivo, the state-run Bitcoin wallet in El Salvador, is at the epicentre of a cyber-security maelstrom after criminals stole private data. On April 23, 2024, CiberInteligenciaSV, the organisation that caused the breach, posted a portion of the Chivo Wallet source code on the black-hat hacker forum BreachForums.

El grupo #hacker #CiberInteligenciaElSalvador, anuncia en su cuenta de Telegram que publicará parte del código fuente y accesos VPN de #Chivo #Wallet (@chivowallet), la billetera oficial de #Bitcoin y #Dólar creada por el #Gobierno de #ElSalvador (@Gobierno_SV)… pic.twitter.com/AUG8PM1VN8

— VenariX en Español (@_venarixES_) April 22, 2024

This most recent hack comes after another one in April that revealed the private data of 5.1 million Salvadorans, or almost all of the country’s population. The disclosure of Chivo’s source code and VPN credentials exposes serious weaknesses in the core supporting the government-run Bitcoin network.

In September 2021, El Salvador became the first nation to accept Bitcoin as legal cash. Since its launch, the wallet has seen a number of problems, including bugs, technological hiccups, and, more recently, data breaches. Despite the seriousness of the situation, the state has not issued any official statement addressing the leaks or outlining plans to enhance the security of the Chivo Wallet. This silence has generated further thoughts about the privacy and transparency of El Salvador’s digital operations.

The leaked source code also draws attention to the risks of adopting a decentralised and volatile asset like Bitcoin as a legal tender. While President Bukele has championed Bitcoin, this breach raises questions about the government’s capability to ensure the security of its Bitcoin-based initiatives.

3 minutos para hacer historia.In 3 minutes, we make history.#BitcoinDay #BTC

— Nayib Bukele (@nayibbukele) September 7, 2021

Meanwhile, CiberInteligenciaSV continues to taunt government officials via their Telegram channel, suggesting they may release additional information unless contacted by “nosy government people.” The hacker group appears intent on exposing security flaws within El Salvador’s Bitcoin infrastructure without seeking monetary gain, opting instead to publish the information for free.

The hack has drawn criticism from industry experts and local cybersecurity projects like VenariX, which warned the public about the impending leak. The continued silence from El Salvador’s government only adds to the uncertainty surrounding the nation’s Bitcoin experiment. As the Chivo saga unfolds, questions persist about the security, reliability, and long-term viability of El Salvador’s Bitcoin venture. The government’s response, or lack thereof, will play a crucial role in shaping the public’s perception of Bitcoin’s role in the country’s economy.

The leak of sensitive information poses several risks. It could lead to unauthorised access to the wallet’s systems, allowing malicious actors to exploit vulnerabilities for financial gain or disrupt operations. Additionally, the exposure of personal data, as seen in the leak of 5.1 million people’s personal data, raises the risk of identity theft and fraud. This could result in a loss of trust in the government’s handling of Bitcoin-related initiatives, potentially affecting the broader adoption of digital currency in El Salvador. Legal and regulatory repercussions could also arise, putting pressure on the government to improve cybersecurity measures and address public concerns. Overall, this leak highlights the security challenges of managing a state-operated Bitcoin infrastructure.

The post Government Silence on Chivo Wallet Breach Sparks Criticism and Doubts Over El Salvador’s Bitcoin Experiment appeared first on Metaverse Post.

Not so long ago, the words “niche” and “hype” were thrown around quite often when talking about anything related to crypto. But things have changed in the last few years, and it’s almost impossible to see that crypto has become mainstream. 

In time, people have looked beyond Bitcoin and started to explore the potential in some of the non-BTC coins on the market. These coins are called “altcoins,” and you can witness the top ten right here.

Ethereum (ETH)

Being a pioneer in the world of cryptocurrencies, Ethereum keeps attracting traders and crypto devotees with its distinctive traits and relentless drive to improve. Similar to Bitcoin, you can use ETH to purchase and sell products and services. What makes Ethereum stand out is that you can create apps that function similarly to software on a computer OS.

As one of the best altcoins in 2024, Ethereum stands out because it has a programmable chain with robust smart contracts. Because of this feature, Ethereum has become an important base for dApps and DeFi protocols, strengthening its influence on the blockchain world.

Ripple (XRP)

With XRP, you may buy and sell a wide range of assets. Despite the high rises and deep lows in recent years, XRP has managed to stay on track.

Plus, the XRP Ledger was the first decentralized exchange (DEX) with a system that let users create their own tokens. This open-source platform has a reputation for being more environmentally friendly than other digital currencies, which might be a factor in its overall appeal. On top of that, XRP is the favorite crypto asset in the financial industry and is a common currency among major banks.

Solana (SOL)

Solana is specifically made to handle dApps and cryptocurrencies quickly and easily.

Solana, often dubbed the “Ethereum killer,” processes transactions at a rate far higher than Ethereum’s. So, it works great for apps that need to handle many activities quickly, like games or video streaming. Besides that, it is a cheaper option for crypto traders than its rival.

Solana has quickly integrated many of Ethereum’s technologies, from DeFi and NFTs to the metaverse, P2E games, and meme coins. These factors have contributed to the continued rise. 

Tether (USDT)

As one of the most famous US-pegged coins in the world, USDT is a popular choice for crypto enthusiasts looking to buy stablecoins.

USDT is mostly used to “tether” or keep other coins stable. To hedge against the extreme volatility of the cryptocurrency market, many investors are shifting their holdings into USDT. Thanks to this, the market is more stable, and investors may take advantage of cheap prices to purchase cryptocurrency and sell it at high prices.

In practice, this coin lets people use the blockchain and related tools to do transactions using conventional currencies while reducing the risk and complexity that usually come with crypto.

Binance Coin (BNB)

You can pay for deals and get discounts on the Binance market with BNB, which is the utility currency of a widely popular exchange. You may even utilize BNB to pay for things outside the exchange, like booking a trip or renting a room. 

The platform has integrated almost every new cryptocurrency technology to make its community bigger, from NFTs and memcoins to metaverse and P2E gaming models. Such an approach, along with continuous BNB burning, will set the token for a bigger spike in value.

USD Coin (USDC)

Similar to Tether, USDC is another dollar-backed stablecoin that helps traders avoid the continuous volatility in the crypto sector. Plus, being on Coinbase makes it highly accessible.

You can buy, sell, and send money with USDC while using crypto. It allows you to convert crypto to USDC and avoid the hassle of withdrawing funds to a regular bank account or credit card.  

Unlike other coins, USDC is a regulated currency in the US, offering more transparency and security than some crypto tokens out there. It’s also a popular choice for cross-border payments, helping users avoid the hassles and hefty fees of traditional wire transfers.

Avalanche (AVAX)

With its emphasis on cheap fees and fast transactions, Avalanche aims to address some of the critical problems other platforms face. AVAX holders can stake their tokens for bigger rewards and participate in yield farming through many projects it runs. 

As crypto trading becomes more mainstream and new traders enter the industry, AVAX could be a popular first choice for many. On top of that, the platform has taken many measures to improve its security and stability.

Cardano (ADA)

ADA’s blockchain platform is unique because it is both innovative and well-thought-out. It has been through a lot of peer review, which makes it stand out as a PoS token that could compete with Ethereum.

By creating DeFi products like Ethereum’s, Cardano wants to become a worldwide financial platform. It aspires to tackle some critical issues like interoperability and electoral fraud. 

Despite the recent fluctuations, it remains one of the more popular altcoins in the market.

Polkadot (DOT)

Launched in 2016 as a “next-gen” blockchain, Polkadot and its coin, DOT, promised to offer higher scalability, adaptability, and interoperability than previous versions. Establishing a solid foundation for dApps, It has delivered its promises by using “parachains” and bridges that can help simplify customization, boost resource efficiency, and remove interoperability barriers.

Also, DOT is a favorite token in development activities and a plethora of projects, one reason being higher security than other alternatives. It’s also the platform’s staking and governance token, promoting transparency and decentralization.

Dogecoin (DOGE)

Back in 2013, Dogecoin emerged as the first meme coin with seemingly zero utility. Still, it has gained tremendous popularity and value over the years, all thanks to a loyal fan base, a growing meme sector, and celebrity endorsements. 

DOGE transactions are quick and cheap, which makes them useful for everyday use and small transfers. On top of that, it’s a popular token used for charities funding humanitarian efforts all around the world, including Kenya. 

The inflationary supply system also helps the token dodge market volatility to a certain extent while preventing hoarding.

The post 2024’s Top Ten Altcoins: Diving into the Best of 2024 appeared first on Metaverse Post.

As an investor, one thing that is common to all is achieving financial wealth through strategic means. That’s why many people decide to take the time to observe how altcoins behave in the market before investing in any coin. Bitgert’s recent breakthrough into the crypto market and the price rise are attracting the attention of visitors who see the Bitgert coin as an opportunity to take control of their financial future.

Many altcoins try to set themselves on the path of defying expectations. However, that doesn’t always happen. Imagine if you were told that the coin you’re getting now will be the major token to be used when you get to Mars. Funny, isn’t it? We are not even sure of what the earth will become in time to come, and some coins are making unrealistic expectations. However, many people seem to be getting attracted to Bitgert, and this could primarily be because of the realistic target that isn’t only set but also looks like it is being realized. Quickly, let’s look at why Bitgert is enjoying a high rise in prominence in the volatile crypto market.

Bitgert Chain: Enabling Fast Speed and Zero Fees

Investors are finding it difficult to perform any transaction on platforms like Solana and Ethereum because of the extreme sluggishness and the exorbitant money that must be paid before assets can be traded quickly. Bitgert is defying the expectations of investors through its powerful blockchain that can enable as many as 100,000 transactions per second without flinching! 

Bitgert scalability is one thing that investors can’t shy away from, and this is making it a force to reckon with in the serial congested world of decentralized financial platforms. Aside from the scalability features, Bitgert, through its fast-speed blockchain, is enabling the elimination of gas fees, and this is like a dream for people who are tired of paying high charges. 

Aggressive Rate of Burn and Buyback

If you ask anyone familiar with the crypto sector what they think of a coin’s value, they’ll tell you that the longer they can hold on to the coin (which ‌is short in circulation), the more the value continues to rise.  

This is why attention seems to be shifting to Bitgert, thanks to its aggressive burning mechanism strategy that is aimed at reducing the supply of Bitgert coins and increasing the value of the remaining tokens. 

While some coins like Bitcoin have been adjoined to successful crypto projects, Bitgert is gunning toward beating that landmark. This is because of some of the Bitgert features, like fast blockchain speed and burning mechanisms that can draw investors. Since Bitgert is living up to the hype, try now to enjoy the massive returns.

The post The Trending Force: Bitgert Coin’s Unstoppable Journey to Prominence appeared first on Metaverse Post.

The BEFE coin has been changing the paradigm about meme currencies with its epic rise in the crypto market. People are talking about the BEFE coin for the transition it has followed from the launch till today. Many experts believe this token is going to be at the brim and will profit the investors in bulk with its great price rise strategy.

There have been many predictions about the BEFE coin that it will cross such a price mark, and the token has broken all of them by now. People now anticipate the BEFE coin will become the meme currency king and bring utility tokens and meme coins closer as well.

Let’s check out what is so special about this token and how it is going to take over the market.

Decoding the Growth of BEFE Coin

BEFE coin has been able to make a mark in the crypto space because of its growth. The reason behind this growth is the constant upgrade and innovation of the token since its launch. The BEFE coin was launched in November last year, and it was attributed to be just a meme currency. Since then, the BEFE coin has collaborated with multiple blockchains and made innovations to change this attribute of the token.

Recently, the creators of the BEFE coin have announced the commencement of phase 5 for the token and the implementation of this token to the Solana chain. This move has helped push up the price of the token even further now. Moreover, the BEFE coin is based on the Ethereum chain and compatible with the EVM as well. So, smart contracts are also applicable to the use of BEFE coins and Bitgert. This chain helps provide quick transactions at a low cost.

These are some of the reasons behind the growth of the BEFE coin, which has moved from just another meme to the top of the line.

The Performance Attribute of BEFE Coin

BEFE coin is on the brink of becoming the biggest meme currency in the market. It has already beaten the so-called kings and has shown better volatility coverage than even utility tokens. The volatility percentage of the BEFE coin is close to 12%, which makes it the best currency to invest in currently.

Then, the RSI score of the BEFE coin is over 55, which indicates that the token has a strong buying sentiment in the market. Other KPIs also send out a positive reaffirmation in the market about investing in the BEFE coin further. The feed & greed ratio of the BEFE coin is also at the lowest, thus indicating that the token is not over-pumped currently.

Conclusion

Many currencies in the market are struggling to make a name even after years of work. The BEFE coin has just spent months in the market and has already grown past the hype of many other tokens. There are predictions that the BEFE coin may even touch the $1 mark soon, so it is the right time to pay attention to the token. 

The post Trend Alert: BEFE Coin’s Unprecedented Surge to Meme Coin Prominence appeared first on Metaverse Post.

The Ethereum community is currently embroiled in an intense debate over the future of its monetary policy. This discussion has gained momentum due to proposals aimed at reducing the issuance rate to counter the growing dominance of innovative staking solutions like Restaking, Liquid Staking, and Liquid Restaking. The outcome of this debate has far-reaching implications for Ethereum’s governance and its position as a monetary asset within the larger cryptocurrency landscape.

One of the driving forces behind this rise in demand for staking is a topic of ongoing debate, with approximately 32,4 million ETH currently staked, representing nearly 27% of the total supply. This rise has been fueled by innovations that offer users more opportunities to earn yields, such as EigenLayer’s Restaking protocol and the broader adoption of Liquid Restaking. 

These developments have disrupted Ethereum’s originally designed Proof-of-Stake mechanism, which was intended to be self-regulating, with decreasing marginal returns as staking grew. However, with the influx of new revenue sources like MEV (Miner Extractable Value), Liquid Staking, and Restaking, this self-regulation has been undermined, sparking concerns about the growing influence of staking derivatives on Ethereum’s monetary policy and governance.

The crux of the current debate centres on the fear that the added incentives from these new yield sources could lead to unchecked expansion of Ethereum’s staking pool. If this continues, stETH or Liquid Restaking Tokens could gain such dominance that they might overshadow Ethereum’s role as a primary monetary asset, destabilising its ecosystem and altering its governance structure.

Efforts to constrain the yearly issuance of additional ETH to curb the expansion of the staking pool have faced stiff opposition from the community, especially from those who view any alteration to Ethereum’s monetary policy as a red line. 

According to Yahoo Finance, critics argue that the Ethereum Foundation and its affiliated “Core Devs” have failed to achieve the requisite “rough consensus” among the broader set of stakeholders. This perception of centralised control is reinforced by the observation that a small group of individuals within the Ethereum Foundation is responsible for the majority of Ethereum Improvement Proposals (EIPs), leading some to believe that the foundation wields disproportionate influence over Ethereum’s development.

To address these concerns, various suggestions have been proposed to increase community feedback mechanisms. These range from organising an annual Ethereum Assembly where stakeholders can voice their opinions on EIPs to creating an online feedback platform that allows for broader community input on major protocol changes. These initiatives could help bridge the perceived gap between the Ethereum Foundation and the wider community, reinforcing the decentralised nature of Ethereum’s governance.

Ultimately, the discussion surrounding Ethereum’s staking policy is about much more than just technical details—it reflects fundamental questions about governance, decentralisation, and Ethereum’s role as a monetary asset. As the Ethereum community continues to grow and diversify, developing robust mechanisms for stakeholder feedback and promoting openness will be essential to sustaining the transformation of the project’s decentralised ethos and ensuring its long-term success.

The post Centralised Control or Decentralised Governance? Understanding Ethereum’s Staking Policy Controversy appeared first on Metaverse Post.

Digital tokens known as “AI coins” are linked to initiatives that aim to incorporate artificial intelligence into a technology or ecosystem. These currencies may be used to pay for AI research, reward developers, and get access to AI-driven services. They are a combination of blockchain technology and artificial intelligence, utilising the special qualities of both to provide cutting-edge solutions.

Since they provide a means to contribute to the expansion of AI-based applications inside the cryptocurrency space, AI coins appeal to us. These currencies may be used as equity in AI-related businesses or as a component of decentralised platforms that use AI to improve data analysis, automation, and other activities. In the end, AI coins demonstrate how blockchain technology and artificial intelligence connect, offering fresh investment possibilities and application cases.

AI Coins That Blew the Market 

Render (RNDR)

A decentralised Render Network links makers and artists with potent computing resources so they may produce 3D animations and pictures of the highest grade. Through the site, users may pool their excess computer power, which can then be paid for by producers. The program rewards users who donate their processing power and speeds up network transactions with its own coin, RNDR. Artists may now more easily generate visual material without breaking the bank thanks to Render Network’s applications in augmented and virtual reality, video games, and the virtual world.

Photo: Render Price for 20-26.04,2024, Binance 

The Graph (GRT)

Data is collected, processed, and preserved utilising the Graph from many ledger apps to make information retrieval easier. When the Graph was first made available on the Ethereum blockchain, its goal was to assist developers in optimising the usage of pertinent data to boost the effectiveness of their dApp.  The blockchain data is first gathered and examined, after which it is loaded into several indices known as Subgraphs. In this way, any software may query its protocol and get an answer right away. The integrity of the data safeguarded within the network is guaranteed by The Graph’s native token, GRT.

Photo: The Graph price for 20-26.04,2024, Binance 

Bittensor (TAO)

Bittensor (TAO) is at the vanguard of the decentralised machine-learning network. This innovative protocol allows for reciprocal training across several machine-learning models, rewarding users with TAO tokens according to their individual network contributions. TAO’s value has increased dramatically recently—it has increased by 10% in only the last week. Its value surged by 932% in the preceding year, indicating a robust rising tendency.

Photo: Bittensor price for 20-26.04,2024, Binance

Fetch.AI (FET) 

Fetch.ai is a blockchain-based AI and machine learning platform. The main goal of Fetch.ai is to automate corporate processes, including trading and data analysis. FET, the network’s native coin, is used to fund transactions. Recently, Fetch.ai suggested merging with SingularityNET and Ocean Protocol; this proposal is presently being reviewed and approved.

Photo: Fetch.AI price for 20-26.04,2024, Binance

Theta Network (THETA)

By combining the Theta Blockchain with the Theta Edge Network, Theta Network provides support for applications in the fields of artificial intelligence, the press, and leisure. Theta Blockchain powers smart contracts and the Ethereum Virtual Machine (EVM), while the Theta Edge Network distributes GPU processing power across several applications. TFUEL is the operating token, and THETA is the governance token in Theta’s dual token system. The platform is supported by a network of partners and business validators from the IT and entertainment industries.

Photo: Theta Network price for 20-26.04,2024, Binance

The post AI Coins Making Waves in the Crypto World: Performance, Use Cases, and What’s Next appeared first on Metaverse Post.

US Securities and Exchange Commission (SEC) brought charges against cryptocurrency mining and hosting company Geosyn Mining and its co-founders, Caleb Ward and Jeremy McNutt. The charges pertain to their involvement in an unregistered and fraudulent securities offering.

Initially, the company informed its supporters of its intention to acquire, manage, and run cryptocurrency miners, subsequently allocating the mined cryptocurrency assets, including Bitcoin, to them for a fee.

However, the firm deceived 60 investors, raising nearly $5.6 million from 2021 to 2022. Furthermore, the company neglected to inform its new contributors that previous investors had not received mining machines as promised and also failed to fulfill the services it detailed in the initial documents.

The SEC further alleged that the firm’s founders periodically distributed Bitcoin to the supporters in an attempt to conceal operational challenges and shortcomings. While the company has raised $320,000 from mining activities, it distributed a total of $354,500 in Bitcoin to investors. Additionally, one of the founders, Jeremy McNutt, reportedly had to personally acquire Bitcoin to cover the shortfall.

Moreover, the filing detailed that the enterprise deceitfully asserted the existence of profitable contracts with electricity providers, thereby committing fraud. Reportedly, the actual costs were significantly higher than what was conveyed to the backers.

SEC Files Charges Against Geosyn Mining For Securities Law Violations

In late 2022, Geosyn Mining’s financial situation began to deteriorate. Caleb Ward accused Jeremy McNutt of embezzlement, which caused the latter to leave and relinquish his ownership interest. Last year, Caleb Ward reached out to the investors, informing them that the firm would settle their outstanding Bitcoin payments at a later date.

The SEC‘s filing accused the company founders of violating the anti-fraud and securities-registration provisions outlined in the federal securities laws and requested a permanent injunction, aiming to secure the reimbursement of the alleged misappropriations and impose penalties on the founders.

The post SEC Files Charges Against Geosyn Mining, Accuses Its Co-Founders Of $5.6M Fraud appeared first on Metaverse Post.

BlackRock’s Bitcoin ETF has grabbed attention as its daily inflows hit an unexpected milestone, dropping to $0 for the first time since its launch. According to a London-based investment management company, Farside Investors, the inflow streak of the BlackRock iShares Bitcoin Trust (IBIT) came to a halt on April 24, 2024, with the ETF recording no inflows for the day.

Bitcoin ETF Flow (US$ million) – 2024-04-24TOTAL NET FLOW: -120.6(Provisional data)IBIT: 0FBTC: 5.6BITB: 0ARKB: 4.2BTCO: 0EZBC: 0BRRR: 0HODL: 0BTCW: 0GBTC: -130.4DEFI: 0For all the data & disclaimers visit:https://t.co/4ISlrCgZdk

— Farside Investors (@FarsideUK) April 25, 2024

Since its inception, IBIT, launched on January 11, 2024, and issued by Blackrock, has consistently drawn significant investments daily, amassing nearly $15.3 billion in just 71 days. However, investor sentiment has shifted, resulting in a complete cessation of daily inflows, potentially signaling a significant shift in the crypto ETF market trend.

This no-inflow situation for BlackRock’s Bitcoin ETF, though unprecedented, echoes broader trends in the landscape. For instance, Fidelity’s FBTC experienced three days of no inflows over the past 12 days, from April 12 to April 24. Interestingly, just on April 10, 2024, according to Nasdaq, Fidelity FBTC became the third BTC ETF to have reached 150,000 BTC in AUM.  Additionally, Grayscale recently transferred 2,373 BTC valued at $156 million to Coinbase, with its net inflow of $12.5 billion into the US BTC ETF market being offset by outflows surpassing $17 billion since mid-January.

Furthermore, delays in approval decisions for several Ether (ETH) ETF applications by the US SEC have heightened uncertainty in the cryptocurrency ETF market. The SEC‘s extension of the decision timeline for potentially converting Grayscale‘s ETH Trust into a spot ETH exchange-traded product on NYSE Arca, now due on June 23, further exacerbates this uncertainty. Hence, BlackRock’s IBIT experiencing a day without inflows aligns with regulatory uncertainties and obstacles, illustrating the complexity of cryptocurrency investments.

On April 24, Eric Balchunas, BI ETF analyst, lauded the 71-day streak of uninterrupted inflows to the IBIT ETF.

He compared the fund’s performance to that of the U.S. Global Jets ETF (JETS), Vanguard’s bond market ETF, and developed-markets ETF, positioning BlackRock’s Bitcoin ETF among the top ten funds of all time by another measure. However, Balchunas noted that “a lot of mountains left to climb” still exist to achieve the top rank.

$IBIT inflow streak now 71 days which has it officially in the Top 10 all time after passing the ETF One Hit Wonder $JETS (remember JETSanity?). Also passed $BND and $VEA which are cash vacuum cleaners. Lot of mountain still left to climb tho. h/t @thetrinianalyst pic.twitter.com/NpZzgQe4v3

— Eric Balchunas (@EricBalchunas) April 24, 2024

FYI – BlackRock filed the IBIT with the SEC on June 15, 2023, and remarkably obtained approval within a mere seven months. Subsequently, on January 11, 2024, the U.S. SEC granted approval to IBIT along with ten other spot Bitcoin ETFs.

The post BlackRock’s Bitcoin ETF Hits Unexpected Milestone as Daily Inflows Drop to Zero appeared first on Metaverse Post.

Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH 96960, MH 96960, April 26th, 2024, Chainwire

A Glittering Moment: BloFin Shines at TOKEN2049 

BloFin, a fastest-growing exchange platform, proudly announces its platinum sponsorship of TOKEN2049 Dubai and its exclusive SideEvent: WhalesNight AfterParty 2024. Following our previous role as the Gold Sponsor at TOKEN2049 Singapore, the BloFin team, now the Platinum Sponsor of TOKEN2049, continues to shine on this stage with its enthusiasm and original dedication to contributing to the cryptocurrency industry. 

BloFin successfully sponsored TOKEN2049 Dubai, which witnessed an extraordinary gathering of industry leaders, enthusiasts, KOLs, and innovators. Blofin’s participation in this prestigious event not only reaffirmed its commitment to fostering innovation within the blockchain ecosystem but also demonstrated its dedication to driving industry development forward. 

An Unforgettable Night: WhalesNight AfterParty 2024

As part of the conference, BloFin hosted the highly anticipated WhalesNight AfterParty 2024, promising an unforgettable evening of networking and celebration. 

Gratitude in Spotlight: Heartfelt Thanks to Valued Partners and Media

BloFin extends its gratitude to its esteemed media partners, including U.Today, BeInCrypto, CoinTelegraph MENA, Crypto.news and Chainwire, whose support has been instrumental in promoting this event. Additionally, BloFin appreciates the steadfast support and participation of its significant partners, KOLs, and attendees.

The Dubai Whales Night offers the BloFin team a valuable opportunity to meet with users and friends.

Matt, CEO of BloFin, shared his insights and expressed his excitement at the WhalesNight AfterParty. He stated “We understand the importance of trust. We will continue to provide our users with safe, reliable, and fast services.”

As we continue to expand our reach and enhance our offerings, Blofin remains steadfast in its mission to empower individuals and institutions to unlock the full potential of blockchain technology.

About BloFin:

As the fastest-growing crypto exchange, BloFin offers premium perps & futures trading services with over 320 USDT-M trading pairs and 100X trading volume. Now, it provides more high-quality products including spot trading, copy trading, earning, API access, and more. Ensuring utmost user fund security, BloFin has partnered with Fireblocks to safeguard users’ assets.

Contact

Head of Marketing and Public RelationsAnnio WuBloFinannio@blofin.io

The post BloFin Sponsors TOKEN2049 Dubai and Celebrates the SideEvent: WhalesNight AfterParty 2024 appeared first on Metaverse Post.

Bitcoin ecosystem automated market maker (AMM) and decentralized exchange (DEX) platform, 100Swap, announced its official launch on the Bitcoin mainnet.

Utilizing an AMM algorithm similar to Uniswap, the platform allows users to trade assets under the BRC-100 protocol in a fully decentralized, trustless, and censorship-resistant manner, eliminating the necessity for custody of user assets.

The BRC-100 protocol represents a decentralized computing protocol based on Ordinals Theory. It introduces a modularity approach to protocols and applications, termed inheritance and nesting, laying the groundwork for extending the BRC-100 protocol and applications.

Users can utilize 100Swap either through the 100Swap decentralized application (dApp) or via inscription. The platform operates on the unspent transaction output (UTXO) and state machine models, employing computing operations (COP) from BRC-100.  

BOS functions as both a native and governance token within the 100Swap ecosystem. Its tokenomics dictate that 60% of tokens are reserved for minting, 35% for yield farming, and 5% for the BRC-100 Protocol. The overall supply of BOS tokens is capped at 1,000,000,000.

Since its testnet launch earlier this year, the exchange has logged over 15,000 active addresses and witnessed more than 140,000 inscriptions. Additionally, the exchange has been integrated with the OKX Web3 wallet, enabling developers to build applications on its platform.

Corgi Token Surges 3,000% Following 100Swap Launch

#100Swap has been launched on #Bitcoin Mainnet, https://t.co/5TTTLe9OeG1⃣1st AMM #Inscription swap on #Bitcoin Layer 12⃣Swap any #BRC100 assets based on AMM @MikaelBTC3⃣Non-custodial user assets4⃣Decentralized, trustless, censorship-resistant and permissionless$bos #BTCFi pic.twitter.com/9S9Nmh7xHO

— 100Swap – AMM Inscription DEX on BRC-100 (@100Swap_io) April 25, 2024

Following the exchange’s launch, the price of the BOS token has shown a decline of 20%, as reported by the platform’s dashboard. Conversely, another token named Corgi, listed on the exchange, has witnessed a remarkable surge of over 3,000% within less than 24 hours.

According to the exchange, the current total value locked (TVL) amounts to $35,082, with a trading volume of $15,906 observed over the past 24 hours. 

The post First Inscription Decentralized Exchange 100Swap Debuts On Bitcoin Mainnet appeared first on Metaverse Post.

Layer 1 blockchain and interoperational platform ZetaChain announced the launch of a comprehensive ecosystem program designed to boost and expedite the development of decentralized applications (dApps) and protocols operating on the ZetaChain blockchain.

ZetaChain operates as an omnichain blockchain, employing the principle of chain abstraction to function as the foundational layer of the decentralized internet.

As part of its initiative, ZetaChain intends to reserve 5% of the entire ZETA token supply for the most promising and impactful projects developed on the ZetaChain blockchain. Within this allocation, 1%, equivalent to 21 million ZETA tokens, will be specifically designated for projects focusing on Bitcoin integration.

This marks the initial distribution from the 12% allocation of the total ZETA token supply designated for the Ecosystem Growth Fund, as outlined in the project’s ZETA Token Distribution plan. The distribution of these tokens will occur gradually over the next 3 to 4 years.

Moreover, through the program, assistance will be extended in the form of grants, incentives, and community initiatives to aid in the creation of products, services, and solutions that utilize the capabilities offered by ZetaChain’s integration with Bitcoin.

Focusing On Infrastructure, DeFi, Gaming And Social Apps

The newly introduced growth initiative for Bitcoin projects will concentrate on three key areas. These include Bitcoin infrastructure, which involves improving the underlying infrastructure for BTC-related applications via the OP_RETURN support for BTC wallets, infrastructure to facilitate BTC restaking, APIs, user interfaces (UIs), and cross-chain transaction indexers.

Another area involves Bitcoin decentralized finance (DeFi). ZetaChain’s objective is to nurture a comprehensive range of BTC-centric DeFi offerings, including lending and borrowing platforms, decentralized exchanges (DEXs), perpetual contract aggregators, money markets, and collateralized debt position (CDP) solutions.

Additional focus area is Bitcoin games and social networking, which centers on integrating Bitcoin into gaming and social networking platforms to enable players to earn native BTC as rewards in games and foster the development of BTC-centric social networks supported by gas grants.

The program focuses on DeFi protocols building on ZetaChain, offering support such as liquidity provision and trading incentives aimed at encouraging education, efficiency, and increased application usage overall. The BTC Ecosystem Growth Program is presently open and accepts applications.

The post ZetaChain Allocates 5% Of Total Token Supply For Ecosystem Growth, Reserves 1% For Bitcoin Projects appeared first on Metaverse Post.

The halving of Bitcoin has clearly affected the cryptocurrency market, as AI currencies have surged in value and drawn interest. This change is indicative of a wider trend in the cryptocurrency mining sector, as established Bitcoin miners expand their business strategies in anticipation of lower payouts and higher running expenses following the halving. This is a summary of how the environment is changing and how it affects Bitcoin mining.

AI currencies have had a notable upswing after the Bitcoin halving, indicating a change in the market’s attention. Miners and investors are looking more and more into AI-related businesses as a way to diversify their revenue streams. This action is being taken as traditional Bitcoin mining is being made more difficult by falling hash prices and increasing production and power expenses.

SpaceCatch claims that despite a slight decline after the halving, the Bitcoin hash rate may reach 700 Exahash by 2025. But as costs rise and reward pools get smaller, miners are searching for alternative sources of income, and many are considering the potential for growth through the application of artificial intelligence.

Effects of Mining 

Mining is being significantly impacted by the move toward AI. Miners are looking for new business endeavours to add to their sources of income because AI demands specialised architecture. Prominent mining organisations, including Core Scientific, BitDigital, and Hive, have begun incorporating AI into their operations in an effort to take advantage of the rising demand for associated services.

The adoption of AI is not without its difficulties since smaller operations face obstacles due to the need for specialised infrastructure and a competent crew. Nonetheless, a few businesses are succeeding on this new path, with AI-related income making up an impressive portion of their profits. Businesses such as Bitdeer and TeraWulf are rising to support AI initiatives, indicating a rising industrial interest.

The AI Coin Market’s Efficiency

The efficacy of AI currencies after the Bitcoin Halving has been outstanding. For example, the price of NEAR Protocol increased by 7.36%, and its one-day trading volume increased by 21.82% to $454.64 million. In a similar vein, the price of Render shot up 1.43% to $9.14, while the price of GRT climbed by 3.61% to $0.2958. These figures show that investor interest in cryptocurrencies powered by AI is rising.

Photo: NEAR Protocol Price, Binance

Photo: Render Price(RNDR) Price, Binance

For Bitcoin miners, the shift to AI brings both benefits and problems. Smaller operators find it challenging to break into the AI sector because of the requirement for specialised infrastructure and qualified personnel. In spite of these challenges, miners are aggressively managing their financial obligations and investigating cutting-edge income diversification techniques in order to adjust to the changing environment.

Core Scientific has constructed specific facilities to handle AI workloads. To further its capabilities, it has partnered with cloud providers like CoreWeave. It is anticipated that these projects will bring in a substantial amount of money, and if the need for AI infrastructure grows, there may be room for even more expansion.

With AI coins rising and Bitcoin miners looking into new business opportunities, the Bitcoin Halving has paved the way for a more significant shift in the industry. The move toward artificial intelligence presents a viable avenue for development and innovation as the industry adjusts to the post-halving climate. For those who are prepared to embrace the transition towards high-performance computing and AI applications, the changing landscape offers new opportunities even though there are still hurdles. AI mining appears to be becoming more and more integrated with crypto mining in the future, opening the door for a vibrant and changing sector.

The post AI Coins Surge After Bitcoin Halving: A Comprehensive Look at the Market’s Evolution and Future Trends appeared first on Metaverse Post.

What is a Deepfake?

The term “deepfake” is a technological process that creates very realistic synthetic media, usually in the form of sounds, photos, or videos, using artificial intelligence (AI), specifically deep learning algorithms and generative adversarial networks (GANs). Deepfakes are able to produce wholly new and frequently misleading information by manipulating or superimposing preexisting visual and audio content, thanks to the training of these algorithms on big datasets. 

With the use of this technology, faces, voices, and other distinctive features may be seamlessly altered to create lifelike representations that can be difficult to discern from genuine material. Deepfakes are useful for art, entertainment, and education, but they also pose serious risks for disseminating false information, violating privacy, and maybe being used to discredit people. 

Photo: Vimeo

With the growing popularity of deepfake technology, more platforms are emerging to create these altered videos and images. Below is a list of popular deepfake platforms, which demonstrate the range of this technology, from simple face-swapping in GIFs to advanced video manipulation, reflecting the versatility and potential uses of deepfakes.

FaceApp

Known for its facial transformation features, FaceApp allows users to apply various filters to change their appearances, such as ageing or gender-swapping, offering a user-friendly interface.

ZAO

A Chinese deepfake app that gained attention for its ability to replace faces in video clips quickly and with high accuracy. ZAO provides users with simple tools to create personalised deepfakes.

Reface

A mobile app designed to swap faces in short video clips and GIFs. Reface offers a wide range of content, including popular movie scenes and celebrity images, making it easy to create entertaining content.

DeepFaceLab

A more advanced platform for creating deepfakes, DeepFaceLab is open-source and designed for experienced users who want to create complex deepfake projects. It allows for detailed manipulation of faces in videos.

Wombo

Specialising in lip-syncing, Wombo enables users to create videos where faces are animated to sing or speak. This platform is widely used for creating humorous and entertaining content.

Deepfakes Web

A web-based service, Deepfakes Web is designed for ease of use. Users can upload videos and images to generate deepfake content without needing advanced technical skills.

Deepfake Studio

A comprehensive platform for creating deepfake videos, Deepfake Studio offers a variety of tools for face swapping and manipulating video content. It caters to both beginners and more experienced users.

Do Deepfakes Pose a Risk?

Indeed, it is quite easy to obtain the technology needed to generate deepfakes, and there is a great chance that it will be abused for misinformation, political disinformation, social media imitation, and criminality. Threat actors and other criminal people may use this untrue material, among other things, to fabricate stories, threaten people, or pose as well-known people in order to commit fraud or harm people’s reputations.

The Practical Cases of Malicious Deepfakes

Tom Cruise Deepfake 

Deepfake videos of Tom Cruise on TikTok are among the most well-known and captivating instances of media produced artificially. Millions of people watched these videos, which have Cruise’s visage precisely placed on another person’s physique to create disturbingly lifelike content.

Obama’s PSA with Jordan Peele

Director and comedian Jordan Peele collaborated with BuzzFeed to produce a video in which he voiced former President Barack Obama. The deepfake highlighted the possible risks in the political sphere by demonstrating how simple it was to produce false material using artificial media. 

Mark Zuckerberg Deepfake as Social Commentary

The video of Facebook CEO Mark Zuckerberg was made by artist Bill Posters to demonstrate how easily social media can be exploited. In the deepfake, Zuckerberg talked about Facebook’s ownership of user data, drawing attention to the dispute over the company’s management of misleading material. 

Crypto Scams

Deepfakes are also being widely used in the crypto space. For example, on February 7, 2024, CertiKSkynetAlert Twitter page posted an alert about a scam with the deepfake of Vitalik Buterin:

#CertiKSkynetAlert We have seen deepfake of @VitalikButerin used to promote a wallet drainerThe scam site is strnetclaim[.]ccStill of the video can be seen below pic.twitter.com/R8AY5CVOea

— CertiK Alert (@CertiKAlert) February 7, 2024

Are There Any Ways to Stop the Usage of Deepfakes?

Technologies that can identify deepfakes or allow for the verification of real material can be used to counteract malicious deepfakes. Fake media can be recognised by detection technology without requiring comparison to the original, unaltered material. Machine learning is a type of AI that is frequently used by these technologies. Data from reputable actual and fraudulent media sources is used to train the algorithms. Among the techniques are face or voice irregularities, signs of the deepfake creation process, and variations in colour.

The post The Dark Side of Deepfakes: How Malicious Actors Use Synthetic Media to Manipulate and Deceive appeared first on Metaverse Post.

Packed TOKEN2049 Dubai conference proves the resilience of the global crypto community, with attendees overcoming travel disruptions to participate

Going from strength to strength, TOKEN2049 Singapore will return in September 2024 as the industry’s largest international gathering of the year, with 20,000 attendees 

Dubai, UAE — April 23, 2024 — TOKEN2049, the premier crypto event, saw record-breaking success for its inaugural Dubai conference, which took place from April 18-19, during TOKEN2049 Week.

Throughout the event, attendees experienced an impressive range of panel discussions, keynotes, workshops, and exclusive networking opportunities, overcoming torrential rain to show up in force. Tickets for TOKEN2049 Dubai sold out nearly three weeks prior to the event, with 10,000 attendees expected. Despite the UAE’s heaviest rainfall in 75 years, the conference opened to a full-house. 

Alex Fiskum, Co-Founder of TOKEN2049 said: “This week we witnessed the determination of the crypto industry first hand. Our team worked around the clock to ensure that the conference proceeded without any disruptions, maintaining the highest standards of hospitality for our attendees. Our programme proceeded and our doors opened as planned, welcoming attendees to a comfortable, immersive, and action-packed event. We are immensely proud of everyone who contributed to making TOKEN2049 Dubai an overwhelming success.”

TOKEN2049 Dubai was host to 90% international attendees hailing from over 160 countries worldwide. The global crypto community came out in full strength to participate, showcasing the growing reputation of Dubai as a hub for crypto innovation. The global representation also cemented TOKEN2049 as the marquee industry event in the crypto calendar, not to be missed. 

Photo caption: ‘Pavel Durov, CEO of Telegram, onstage at TOKEN2049 Dubai’

Travel disruptions early in the week saw large numbers of speakers and attendees diverted across the Middle East, all of whom surmounted significant obstacles to attend and participate at TOKEN2049 Dubai. Amongst the 200+ leading industry voices who took to the stage to share their insights, discuss the most prevalent topics in Web3, and unveil exciting news announcements were Pavel Durov, the visionary CEO of Telegram; Richard Teng, CEO of Binance; Paolo Ardoino, CEO of Tether; and Arthur Hayes, Co-Founder of BitMEX. 

Some standouts include a joint announcement onstage by Tether and Telegram that USDT will launch on The Open Network (TON) and Telegram wallet; Polkadot’s Gavin Wood introduced a new JAM chain graypaper; Berachain announced a collaboration with Google Cloud; and Telos unveiled a partnership with Ponos Technology to develop a hardware-accelerated Ethereum L2 zkEVM network, amongst many more ground-breaking announcements.

Fiskum continued: “We have received overwhelmingly positive feedback from all participants across TOKEN2049 Dubai. Energized by this success, we now shift focus to prepare for the industry’s largest event of the year — TOKEN2049 Singapore, taking place on September 18-19 before the Formula 1 Grand Prix weekend. TOKEN2049 Singapore will welcome 20,000 attendees to the iconic Marina Bay Sands, continuing to set new standards for the industry.”

TOKEN2049 Dubai will return in 2025, promising an even more immersive experience for prolific industry leaders, Web3 builders, global entrepreneurs, and tens of thousands of crypto enthusiasts. 

TOKEN2049 is hosted annually in Dubai and Singapore. For more information and updates on TOKEN2049, please visit: https://www.token2049.com. 

###

About TOKEN2049

TOKEN2049 is a global conference series, where decision-makers in the global crypto ecosystem connect to exchange ideas, network, and shape the industry. TOKEN2049 is a global meeting place for entrepreneurs, institutions, industry insiders, investors, builders, and those with a strong interest in the crypto and Web3 industry. TOKEN2049 is hosted annually in Dubai and Singapore.

Media Contact

E: token2049dxb@wachsman.com

The post TOKEN2049 Dubai Hailed as an Outstanding Success, with 10,000 Attendees  appeared first on Metaverse Post.

Modular blockchain solution focused on optimizing data availability for rollups, Avail, unveiled that its data availability (DA) layer will be integrated with the Layer 2 scaling solutions encompassing StarkWare, zkSync, Optimism, Arbitrum, and Polygon.

The integration aims to assist developers in building blockchains that are more scalable, cost-effective, and flexible.

DA layers play a crucial role in facilitating the efficient and secure operation of Layer 2 scaling solutions by ensuring that all essential transaction data is readily accessible. This transparency is instrumental in upholding the security and accuracy of transactions, mitigating the risk of fraud, and enabling reliable operations beyond the Ethereum blockchain.

Avail DA plays an important role in our mission to unify web3. The way blockchains get built is changing. Now you can quickly plug a rollup tech stack (e.g. from Arbitrum, Optimism, Starknet, Polygon or zkSync) into an existing decentralized network of validators which… pic.twitter.com/e7CRbIPGW2

— Avail (@AvailProject) April 25, 2024

With Avail DA, users will be provided with the option to seamlessly integrate a rollup technology stack into an existing decentralized network of validators that provides the necessary hardware to operate a blockchain. Avail DA validators operate the decentralized hardware necessary to provide infinitely scalable and verifiable DA blobspace to multiple rollups atop the network.

Avail Propels Interoperability Across Web3 Ecosystem

Avail‘s ecosystem aims to provide an enhanced experience for both users and developers by prioritizing scalability, interoperability, and security. Its architecture is structured around three core layers encompassing the DA layer, the Nexus layer, and the Fusion Security layer.

One of the crucial components of Avail is the Nexus. It functions as a zero-knowledge (ZK) rollup layer built atop Avail DA, utilizing the distinctive features of Avail DA, such as rapid data availability guarantees and light clients with Data Availability Sampling, serving as a hub capable of unifying various rollups and blockchains. Meanwhile, the combined capabilities of Avail DA, Nexus, and Fusion help to foster a more unified Web3 ecosystem.

Avail has been developing rapidly over the recent months, alongside other notable DA projects. Recently, it has unveiled the Unification Drop, planning to distribute 600 million tokens to 354,605 community members after the release of Avail DA. The verification of claims is currently in progress and will extend until 11:59 pm GMT on May 4th.

The post Avail To Integrate With Arbitrum, Optimism, Polygon, StarkWare, And zkSync, Providing Data Availability appeared first on Metaverse Post.

Web3 data lake and query engine, Subsquid announced its upcoming collaboration with Neon EVM, an on-chain solution introducing native EVM to the Solana network. This partnership aims to offer Subsquid’s decentralized application (dApp) developers enhanced accessibility to Neon EVM’s on-chain data, representing the initial phase of the project’s expansion on the Solana blockchain.

As a part of the collaboration, Subsquid will integrate on-chain data sourced from Neon EVM into its decentralized data lake, which is secured by zero-knowledge (ZK) proofs. This integration aims to facilitate the access to existing data for developers building dApps on the Neon platform.

Neon EVM operates as an Ethereum-compatible environment and is implemented as a smart contract within the Solana network. It provides Ethereum solutions such as infrastructure and tools, signatures and accounts, as well as ERC-20 token standards, aiming to alleviate issues like lengthy waiting times, high gas fees, and limited liquidity. Moreover, operating on the Solana network enables it to alleviate these constraints markedly.

What Is Subsquid?

Subsquid serves as a decentralized data lake and query engine, presenting an alternative solution to centralized infrastructure companies such as Application Programming Interface (API) service providers. It delivers analytics, blockchain indexing, and application development capabilities. For builders, it provides cost-effective access to on-chain data sourced from more than 100 blockchains. Subsquid is integrated into a broad ecosystem of developer tools native to both Web2 and Web3 environments.

The project’s current partners encompass Enjin, Manta Network, and Parity. The network extends its support to Ethereum and its Layer 2 solutions, as well as substrate, which includes Kusama and Polkadot.

The expansion to the Solana network represents a significant milestone on Subsquid’s roadmap for the first part of 2024. In addition to this achievement, the platform further intends to debut its mainnet later this year, along with extending support for Cosmos and implementing permissionless dataset submission.

The post Subsquid Partners With Neon EVM To Expand Into Solana Blockchain And Empower DApp Developers appeared first on Metaverse Post.