Category Archives: Decentralization
On November 10, the National Assembly listened to the presentation by Minister of Justice Le Thanh Long about the amendment to the 2012 Capital Law.
The draft amended law includes seven chapters with 59 articles (3 chapters and 32 articles more than the 2012 law) and mentions nine major policies, including the restructuring of the capital citys apparatus to make it operate in a streamlined, professional, and effective way.
Deputy director of the Hanoi Department of Justice Nguyen Cong Anh talked to VietNamNet about the draft law.
What is your assessment about the impact of the Capital Law enforcement on Hanoi?
After 10 years of enforcement, the 2012 Capital Law has had a positive impact on the citys socio-economic development. The law has allowed the city to establish legal tools for building and managing capital city planning, thereby contributing to a more orderly and neat urban landscape. The city has a higher authority to set penalties on the violations of construction and land laws.
Hanoi has gained achievements in developing culture and the cultural and spiritual life of the citys residents has been improved, while cultural and historical heritage sites have been better preserved and embellished.
Hanoi continues to lead the country in developing education and training, and improving the quality of human resources. The State's social security policies are implemented properly, sufficiently and promptly; Hanoi has issued specific and unique policies on social welfare; and ensured political stability, national defense, security and social order.
The citys growth rate has been increasing year after year, actively contributing to the countrys GDP growth. Hanois GRDP (gross regional domestic product) in 2020 reached VND1.02 quadrillion, while the GRDP per capita was $5,325, or 1.92 times higher than the countrys average level.
In 2016-2020, Hanoi made up more than 16 percent of GDP, 18.5 percent of the state budget collections, 20 percent of revenue from domestic sources and 8.6 percent of the countrys total export turnover.
Which problems do you think need to be solved when compiling the amended Capital Law?
In my opinion, many provisions of the 2012 Capital Law are general, not clear enough, and difficult to be applied. After the 2012 Capital Law took effect, many other laws were enacted, including the Land Law, Housing Law, Residence Law and others, which contain provisions overlapping with the Capital Law.
The relocation and post-relocation land fund management have not been strictly implemented according to the Prime Ministers Decision 130/QD-TTg dated January 23, 2015. The application of standards and regulations in planning a number of public works in traffic, construction, water supply and drainage in the inner city remains unsystematic.
Environmental regulations on wastewater, emissions and noise in the capital have been issued, but the application is ineffective. Policies on science and technology development have been mentioned in the law, but they have not been effectively implemented.
There are many issues not mentioned in the 2012 law, including specificity in the organizational structure of the capitals government, and agricultural and rural development policies. The law doesnt contain provisions about a management mechanism which coordinates cooperation among cities/provinces within the capital area.
The Steering Committee for Planning and Investment in the Hanoi Capital Region has been established but it operates ineffectively.
Regarding transportation, the current land bank reserved for transport development is still too small compared to requirements. Meanwhile, the difficulties in expanding transport routes in the inner city area, plus the high costs of compensation for site clearance to expand roads, have put pressure on the citys budget.
Which policies do you think the amended Capital Law needs to create a specific and outstanding mechanism for Hanois development?
I believe that one of the extremely important issues that needs changes in the amended law is decentralization.
The new law needs to concretize specific mechanisms and policies for prompt application. Regarding legislative authorization, it is necessary to decentralize this wok to competent agencies in accordance with current laws to ensure feasibility and uniformity. While applying decentralization, it is necessary to clarify the responsibilities Hanoi authorities have to take, as well as the mechanism to inspect and supervise law enforcement.
Hanoi needs to be given specific mechanisms and policies to optimize the capital citys resources, and pay attention to attracting talents.
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Earlier this month, Alberta Premier Danielle Smith announced that the existing Alberta Health Services (AHS) system in the province will be divided into four separate entities in an effort to improve access to care.
In a press conference at the beginning of November, Smith reiterated that this plan would organize Albertas healthcare delivery system by function, aiming to reduce emergency room and surgery wait times, improve access to innovative treatments and recruit more staff.
More: Albertas plan for a new healthcare delivery system
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Specifically, the decentralization of healthcare in the province will see organizations deliver health services in primary care, acute care, continuing care and mental health/addiction care.
Permanent resident (PR) landing data from 2022 shows that nearly 50,000 new PRs (49,460) landed in Alberta last year.
As the fourth-largest immigrant destination (by number of PRs) in all of Canada for 2022, the anticipated changes to healthcare delivery in Alberta would impact a significant number of Canadian newcomers. In addition, this impact will likely be felt in a variety of ways, from healthcare access (as intended by the reform) to employment prospects.
As stated by Albertas Premier, one of the goals related to this reform is the recruitment of additional staff in the healthcare industry. This will likely mean that prospective newcomers to Canada will have more opportunities to find employment in this province.
Evidence of this potential can be found in many places, including the recent introduction of category-based Express Entry draws.
These draws, which divert from the typical focus of standard Express Entry draws on a candidates Comprehensive Ranking System (CRS) score, instead prioritize the selection of immigration candidates based on selected proficiencies and past work experience.
In 2023, Canadas immigration department selected the following six categories as areas of focus for category-based draws. This years categories prioritize immigration candidates with:
or work experience in one of the following five industries:
As evidenced by the inclusion of healthcare occupations in the 2023 list of categories designated by Immigration, Refugees and Citizenship Canada (IRCC), Canada needs more skilled workers in this industry. Therefore, with the reforms coming to Albertas healthcare system, prospective newcomers could see a heightened level of opportunity to immigrate to, work and live in the province.
Alberta, beyond its position as last years fourth most popular immigrant destination, is also a province experiencing a general boom in population growth over recent years.
In fact, according to Statistics Canada data referenced in a CTV story from September, Albertas population on July 1 this year was 4.7 million, 4.1 percent higher than [July 1] last year due to an increase of 184,400 people.
The same story also noted that Albertas population has recently boomed more than others, [outpacing] the national average by 1.1 percentage points.
As a result of this population growth, most of which can be attributed to international migration*, Alberta has seen a growth in its labour force at its fastest annual pace since 2007 excluding the COVID recovery period.
*International migration has accounted for 61% of the total provincial population increase (112,562 people) in Alberta
In the words of ATB Financial Vice President and Chief Economist Mark Parsons, migration [to Alberta from other parts of the world provides] a steady source of people to fill some of these jobs.
Note: CTVs story notes that the one other primary driving factor in Albertas population boom is migration from other parts of Canada (mostly Ontario and British Columbia), which accounts for roughly 31% (56,245 people) of the provinces population growth.
For foreign nationals considering Alberta as their destination, the province has pathways available to all types of newcomers, including temporary foreign workers and entrepreneurs.
As an example, Albertas Provincial Nominee Program (PNP) is called the Alberta Advantage Immigration Program (AAIP).
This provincial immigration system includes a variety of streams for workers and entrepreneurs, each of which has different requirements with respect to such things as, for example, the need for an existing job offer prior to applying.
More: This dedicated webpage can provide readers with more information about the AAIP
The following is a sample list of AAIP streams:
Click here for more information about landing, settling and life in Alberta, including information about working across the province and healthcare among a variety of other topics.
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By Alex Tapscott
Published Nov. 25, 2023, 12:00 p.m. ET
Artificial Intelligence titan OpenAI fired and them rehired its charismatic CEO Sam Altman this past week. REUTERS
Its been a roller-coaster week for Sam Altman, the past, now present andhopefully future CEO of artificial-intelligence giant OpenAI.
Last weekend, the companys board shocked the technology world by firing Altman for no apparent reason.
The move left Microsoft OpenAIs largest investor reeling.
After failing to have him reinstated, Microsoft CEO Satya Nadella announced that Altman and his co-founder Greg Brockman were jumping ship to lead Microsofts new AI research arm.
Next up was a near company-wide revolt, as most of OpenAIs 800 employees made clear they wanted Altman back or were ready to follow him to Microsoft.
And so by midweek Altman had been reinstated at OpenAI, accompanied by a new board of directors, which includes former Harvard President Lawrence Summers.
The entire affair has been stealthy, both in speed and possible subterfuge.
What were the real reasons for dismissing Altman a hugely capable leader who, among other things, was spearheading a funding round valuing OpenAI at $87 billion?
Thats probably a question for ChatGPT.
OpenAI began life as a non-profit tasked with advancing responsible AI research but has more recently morphed into a typical high-growth tech company.
Some on the board, including the companys Chief Scientist and an AI ethicist, worried that Altman was breaking away from the companys founding principles of altruism.
They feared Altmans bottom-line focus and new AI products reaching near-sentient status could put humanity at risk.
The Altman-OpenAI saga has left many industry observers with a Silicon Valley-style case of whiplash.
Theres also a fair measure of uncertainty around this next-gen OpenAI both in terms of its ongoing stability and its approach to the future growth of AI as a whole.
Will this weeks backroom machinations further edify existing tech giants, like Microsoft?
Or will fast-running start-ups like OpenAI remain as the steward of AIs future?
Will governments throttle AIs growth through onerous new rules?
Or will so-called doomer AI skeptics turn the public against AI before it even gets fully going?
The truth is that none of these choices address AIs biggest concern, the murkiness over how to train, build, and ship new AI products responsibly.
And fixing this begins with doubling-down on openness and transparency.
Indeed, Microsofts Nadella called the naming of a new OpenAI board as a key first step toward well-informed and effective governance.
For AI to reach its potential safely at scale, we need transparency improvements at every step.
We need to decentralize AIs existing framework so that its governed by many rather than a few.
Embracing decentralized decision-making reduces any single point of failure such as a disgruntled board, a charismatic CEO or authoritarian regime.
As Walter Isaacson wrote, Innovation occurs when ripe seeds fall on fertile ground.
In other words, the AI technology stack is fertile; to cultivate it, we must plant new and more inclusive ideas.
Lets start at the bottom of that stack, with hardware.
Today, three companies Amazon Web Services, Microsoft, and Google control three-fourths of the cloud computing market storing all that AI data.
One company, NVIDIA, manufactures most of the chips.
Decentralization would allow smaller, user-owned networks to offset this hegemony, while adding much-needed capacity to the industry.
Altman was in the Middle East raising money for a new hardware venture that would rival NVIDIA when he was fired.
To dislodge the big players entirely, he should embrace a decentralized model instead.
Next up are so-called foundation models, the AI brains that generate language, make art and write code (and lame jokes).
Companies guard these models with little oversight or transparency.
OpenAIs models, for instance, are closed tight to public scrutiny. User-owned networks with multi-stakeholder input would be better than Microsoft or OpenAI having complete foundational control which is where we are headed.
Equally important is actual data.
To train an AI foundation model, we need lots of data.
Companies like Microsoft and Amazon have grown rich and powerful amassing mountains of user data; thats one reason OpenAI partnered with Microsoft to begin with.
Yet, users dont know how these AI firms are exploiting their personal data to train their models.
Decentralized data marketplaces such as Ocean Protocol allow individuals and organizations to securely (and accurately) share their data with AI developers.
The data silos of tech giants become less important.
Finally, at the top of the stack are applications.
Imagine a chatbot for K12 students that acts as their personal tutor, fitness instructor and guidance counselor.
We want transparency from AI products that talk to our children and everyone else.
We also want some say in what these apps collect and store about us, how they use and monetize this information, and when they destroy it.
OpenAI currently offers little of any.
AI could alter humanitys fate profoundly. But so far, just a select few Altman and Nadella among them are determining its future behind closed doors.
They claim to represent the interests of all of humanity, but no one really knows.
Neither do we know why OpenAI initially sent Altman packing last week.
But a lack of consistent candidness a k a transparency was cited by his detractors.
Back where it all began, Altman will likely emerge stronger than ever.
Now he must use that strength to advance the core openness OpenAI has always claimed to hold dear.
Alex Tapscott is the author of Web3: Charting the Internets Next Economic and Cultural Frontier (Harper Collins, out now) and a portfolio manager at Ninepoint Partners.
Binance CEO Changpeng CZ Zhaos departure from the platform he founded and the companys guilty plea in a staggering $4.3 billion settlement with the United States Department of Justice have sent shockwaves through the cryptocurrency world. This development poses a crucial question: Is it a harbinger of doom or a bullish signal for the industry?
On Crypto Twitter, where speculation is rife, its easy to lose sight of the core issues. Lets delve into what this settlement truly signifies, starting with the fundamental reason for cryptocurrencys existence.
Cryptocurrency was never meant to be defined by central figures or platforms. Satoshi Nakamotos brilliance lay in creating a decentralized system that did not depend on individual prominence or authority. True to the ethos of crypto, this system was built on the pillars of anonymity and decentralization principles that CZ veered away from despite his notable contributions. While he wasnt a malefactor like Sam SBF Bankman-Fried, CZ wasnt a staunch advocate for cryptos foundational values either.
Related: WSJ debacle fueled US lawmakers ill-informed crusade against crypto
The DOJ action against Binance is more than a punitive measure. It represents a continuation of a narrative. In the wake of the FTX scandal and its links to SBF, the Biden administration appears to have adopted a stringent stance toward the crypto sector despite SBFs donations to President Joe Bidens campaign. However, the implications of the Binance settlement transcend mere political storytelling.
Binances admission to the DOJs allegations of operating as an unregistered money services business and disregarding Anti-Money Laundering norms is significant, albeit these claims remain untested in a court of law. The DOJ has a history of leveling unfounded money laundering accusations against ordinary cryptocurrency users for transaction patterns typical of regular use. This history casts a shadow on the legitimacy of the DOJs claims, especially given the leverage it seemingly wielded to coerce a settlement from Binance and CZ.
Yet, amid these contentious developments, there is a silver lining. The DOJs decision not to shutter Binance suggests an acknowledgment of the legitimacy of the cryptocurrency industry.
This entire episode also underscores the paramount importance of decentralization in cryptocurrency. Centralized exchanges have emerged as vulnerabilities in the crypto ecosystem, reinforcing the adage not your keys, not your coins. This situation is a clarion call to pivot toward decentralized platforms, where control and ownership remain firmly in the hands of the users.
The fundamental lesson here is the imperative to build decentralized and maintain anonymity among the initial builders as the project emerges toward decentralization, just as in Bitcoins early days.
Trust in the cryptocurrency domain should not hinge on charismatic leaders appeal or centralized entities assurances. Rather, it should be anchored in the resilience and autonomy of the underlying technology.
Related: Expect new IRS crypto surveillance to come with a surge in confiscation
CZ and the U.S. federal government epitomize centralized power structures, each with distinct shortcomings. This settlement highlights the need for a paradigm shift in our engagement and perception of the cryptocurrency landscape. Its a critical wake-up call for both builders and users in the crypto community to steadfastly adhere to the core tenets of crypto: decentralization and anonymity.
Far from merely a setback, this settlement might very well act as the impetus for the cryptocurrency industry to realign with its original ethos. A select few should not dictate the future of cryptocurrency. Rather, it should be shaped by a decentralized network that mirrors the vision of its enigmatic creator, Nakamoto.
As we navigate these turbulent waters, we mustnt lose sight of the fundamental principles that gave birth to cryptocurrency. The vision of a decentralized, anonymous, user-empowered financial system remains as relevant and vital today as it was at the inception of Bitcoin. The Binance settlement, in all its complexity and controversy, serves as a pivotal moment a reminder and an opportunity for the crypto industry to recalibrate and recommit to these ideals.
J.W. Verret is an associate professor at George Mason Universitys Antonin Scalia Law School. He is a practicing crypto forensic accountant and also practices securities law at Lawrence Law LLC. He is a member of the Financial Accounting Standards Boards Advisory Council and a former member of the SEC Investor Advisory Committee. He also leads the Crypto Freedom Lab, a think tank fighting for policy change to preserve freedom and privacy for crypto developers and users.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts and opinions expressed here are the authors alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
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Massachusetts, USA, 22nd November, Chainwire Kaspa, the revolutionary open-source, decentralized, and fully scalable Layer-1 blockchain network, is thrilled to announce its 2nd birthday celebration. To commemorate this significant milestone, together with industry leaders Coinpal.io, OKX Web3, ICERIVER, IGV, and Rhubarb Media to launch a spectacular 1 Million Airdrop Campaign. This campaign will take place exclusively on OKX Cryptopedia, offering participants the chance to receive $1 million USD worth of $KAS and the exclusive, custom-designed NFT - KASBOTS with no cost!
Kaspa is not just any blockchain; it stands as a groundbreaking achievement in the world of decentralized technology. Boasting the title of the fastest open-source blockchain, Kaspa is designed to meet the needs of the modern world. Its unique architecture, the world's first blockDAG, permits parallel blocks and instant transaction confirmation, all underpinned by a robust proof-of-work engine with rapid single-second block intervals.
Kaspa has been crafted by industry pioneers and is driven by a community-led ethos. It prioritizes speed, scalability, and decentralization, making it a standout option in the blockchain landscape.
As the Bitcoin network grapples with overwhelming unconfirmed transactions and surging fees, Kaspa emerges as a compelling alternative, offering near-instant transaction confirmations and the ability to handle significant throughput.
Kaspa's commitment to a robust proof-of-work engine ensures that it's secure and reliable, while its blockDAG structure allows for unmatched scalability and transaction efficiency. The single-second block intervals set a new standard for blockchain speed and responsiveness.
Moreover, Kaspa is evaluating the adoption of Smart Contracts with the technology known as Rollups (RU), designed to improve the speed and efficiency of blockchain transactions. With smart contract support, Kaspa unlocks a new realm of numerous future possibilities and payment solutions.
To celebrate Kaspa's 2nd birthday and the launch of the 1 Million Airdrop Campaign with Coinpal.io, OKX, ICERiver, IGV, and Rhubarb Media on OKX Cryptopedia, all people are invited to partake in this remarkable event. This is not just a celebration of Kaspa's journey but also a recognition of its role in shaping the future of blockchain technology.
For more information on the campaign, please read the tutorial to participate here.
Please note that DAGKnight is a rare category/ lottery ticket, for participants who mint it will have the opportunity to receive special rewards!
The 1 Million Airdrop Campaign represents a unique, limited-time opportunity, inviting participants to join in this extraordinary celebration.
Happy Birthday Kaspa! Let's begin the celebration party!
Kaspa is a pioneering open-source, decentralized, and fully scalable Layer-1 blockchain network. Its revolutionary architecture, featuring the world's first blockDAG, delivers parallel blocks and instant transaction confirmations with rapid single-second block intervals. Developed by industry leaders and guided by a community-driven approach, Kaspa offers unparalleled speed, scalability, and decentralization in the blockchain world.
Coinpal is the crypto payment service provider holding both Electronic Money Institution (EMI) and exchange licenses from the European Union, aiming to be the bridge to connect both premium merchant partners and the blockchain community to enable more payment usage scenarios to use their tokens as a payment method for both online and offline to empower crypto payments, and enrich the blockchain communities.
To stay updated on Kaspa's 2nd birthday campaign, please follow:
Kaspa | Coinpal.io | OKX Web3 | IGV | ICERIVER | Rhubarb media
This publication is provided by the client. Cointelegraph does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. Cointelegraph is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
Maldivian Democratic Party (MDP) has stated that the current administration is refusing to recognize Gaaf Dhaal Thinadhoo as a city.
The statement was made by the MDP parliament member for Hulhumale' constituency Ali Niyaz, during the MDP National Assembly meeting held on Thursday.
Noting that former president Ibrahim Mohamed Solih had declared GDh. Thinadhoo as a city, Niyaz stated that the Local Government Authority (LGA) has informed the Thinadhoo Council that the authority will not be accepting the decree declared by President Solih, granting the island the status of a city.
He stated that the LGA claims that President Solih's decree is devoid of some requirements that the island must meet in order to be given the status of a city.
Niyaz also went onto say that the decree made public, granting Thinadhoo the status of a city cannot be altered, noting that there is no reason to do so either.
He also stated that President Solih declared Thinadhoo a city, after taking into account the legal requirements.
Additionally, Niyaz promised that the government would be held responsible and that a parliamentary committee would investigate the issue.
Thinadhoo was officially declared a city, by the former president, Ibrahim Mohamed Solih, under the powers vested in him by Section 51 (a) of the Decentralization Act of the Maldives.
As such, Thinadhoo was officially deemed a city from 30 August 2023 onwards and the declaration was publicized in the government gazette.
The decision was reached due to the islands substantial population as well as its pivotal role in providing a wide array of services to the residents of the atolls.
According to the Maldives Constitution, islands with a population over 10,000 will be declared a city.
Further, should an island or region apply for city status and meets the requirements specified in the Decentralization Act, the president is authorized to grant city status for that island or area.
The former president in his decree declared that Thinadhoo has met these requirements.
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NEAR Foundation and Polygon Labs join forces to build Zero-Knowledge Solution for WASM Chains – Yahoo Finance
Leading ZK researchers and WASM experts to develop a zero-knowledge prover for WASM blockchains available via Polygon CDK
The zkWASM collaboration leverages Polygon Labs' groundbreaking zero-knowledge R&D with NEAR Foundation's WASM expertise, positioning this ZK solution at the forefront of the Web3 market
zkWASM will eventually be one of three provers available for developers who choose to build with Polygon Chain Development Kit (CDK), an open source codebase for launching ZK-powered L2 chains for Ethereum
NEAR Foundation becomes a core contributor to Polygon CDK
This pioneering research initiative will pave the way for greater trustless interoperability across Web3, including between NEAR and the Ethereum ecosystem
LISBON, Portugal, Nov. 8, 2023 /CNW/ --NEAR Foundation, the non-profit that supports the growth and development of the NEAR ecosystem, and Polygon Labs, a software development company for leading Ethereum Layer 2 scaling architecture, announce a strategic collaboration to build zkWASM, a zero-knowledge (ZK) prover for WASM blockchains. With Polygon Labs' authority in ZK scaling technology and NEAR's deep WASM runtime expertise, the zkWASM prover is positioned to lead the market among other wasm provers when it launches next year. Both teams shared the announcement today at the NEAR ecosystem's annual flagship conference, NEARCON, in Lisbon.
NEAR Foundation and Polygon Labs join forces to build Zero-Knowledge Solution for WASM Chains
This announcement brings together two leading protocol teams to build a more secure, interoperable Web3 ecosystem. A zkWASM prover positions NEAR Protocol closer to Ethereum and enables WASM chains to tap into Ethereum liquidity. In the future, through an in-development interoperability layer, chains will also be able to access shared liquidity in a unified ecosystem of CDK-deployed chains, including alternative layer-1s, EVM layer-2s, and WASM chains. Using a zkWASM prover, WASM chains will be able to settle transactions efficiently and cost-effectively with maximum security guarantees, unlocking the full potential of zero-knowledge for the multichain future of Web3.
"We are proud to collaborate with NEAR on this exciting research initiative to further drive the development and adoption of ZK technology. The zkWASM prover maximizes developer customizability, which means projects will be able to select from a number of provers when building with CDK, whether that's launching or migrating an EVM chain, or building a WASM chain for closer Ethereum alignment and access to liquidity," said Sandeep Nailwal, co-founder of Polygon.
A zkWASM prover will be an upgrade for NEAR validatorsinstead of the hard work of validating a shard, validators will instead be able to generate a single zero-knowledge proof, greatly simplifying validator requirements.This means better scalability and increased decentralization for the NEAR Protocol.
"We are very excited to work with Polygon Labs to bring all the benefits of zero-knowledge proofs not just to NEAR but all of Web3," said Illia Polosukhin, co-founder of NEAR Protocol. "NEAR is integrating more with Ethereum by innovating in new research frontiers, and the shared expertise of NEAR and Polygon will expand the ZK landscape and defragment liquidity across chains. Creating and using the zkWASM prover will also improve the scalability and decentralization of the NEAR L1."
The zkWASM prover is now in active development and is expected to launch next year.
About NEAR Foundation:
NEAR foundation is a Switzerland-based nonprofit foundation whose mission is to enable community driven innovation to benefit people around the world. One of its core areas of focus is the NEAR ecosystem, which includes a fully operational decentralized Blockchain-based platform for building decentralized applications.
NF carries out its mission, primarily through the allocation of support and resources to other nodes in the near ecosystem, rather than via direct intervention or operations.
Unlike many organizations of its type, NF's ultimate goal is to minimize its own scope and footprint by continuing to divide functions and resources to the ecosystem; and support the development of decentralized infrastructure necessary for those ecosystem functions to operate in a self-sufficient manner. For more information visit the website.
About Polygon Labs:
Polygon Labs develops Ethereum scaling solutions for Polygon protocols. Polygon Labs engages with other ecosystem developers to help make available scalable, affordable, secure and sustainable blockchain infrastructure for web3. Polygon Labs has initially developed a growing suite of protocols for developers to gain easy access to major scaling solutions, including layer 2s (zero-knowledge rollups and optimistic rollups), sidechains, hybrid chains, app-specific chains, enterprise chains, and data availability protocols. Scaling solutions that Polygon Labs initially developed have seen widespread adoption with tens of thousands of decentralized apps, unique addresses exceeding 220.8 million, over 1.18 million smart contracts created and 2.48 billion total transactions processed since inception. The existing Polygon network is home for some of the biggest web3 projects, such as Aave, Uniswap, and OpenSea, and well-known enterprises, including Robinhood, Stripe and Adobe. Polygon Labs is carbon neutral with the goal of leading web3 in becoming carbon negative.
If you're an Ethereum Developer, you're already a Polygon developer! Leverage Polygon's fast and secure transactions for dApps you develop, get started here.
Website| Twitter | Developer Twitter | Telegram | LinkedIn | Reddit | Discord | Instagram | Facebook
CONTACT: Georgia Haniaspress@near.foundation
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A whopping 98% of GCs are responding to managements calls for in-house teams to be better value enablers by either making or planning to make changes to their departmental structure. Often, CEOs and CFOs are attracted to decentralization, or a structure in which lawyers are co-located with their business teams, due to the models perceived benefit of driving economic value for the business.
But theres a problem decentralization often leads to inefficiency, lack of visibility, and ineffective risk mitigation, hurting the businesss bottom line and GCs know it.
Why are GCs making changes they dont want to? What do GCs actually want, and how can they make the case to leadership?
Register to join us on November 30th at 1 p.m. ET and learn how to leverage data to better advocate for the legal department organizational structure that will actually empower legal teams to best serve the needs of the business.
Key takeaways include:
Panel Speakers:Zach Abramowitz, Killer Whale StrategiesDavid McVeigh, AxiomAshlin Quirk, AxiomOlga Mack, LexisNexis
Register below and secure your spot for November 30th!
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It's been 15 years since that fateful day when Satoshi Nakamoto released the Bitcoin (BTC 0.07%) white paper to the world. Indeed, Bitcoin's pseudonymous inventor likely knew this creation was novel and innovative, but who could have imagined that it would usher in a new era of finance?
As its 15th birthday passes, it's time to take a closer look at why Bitcoin has taken the world by storm, how it has evolved, and where it could be headed.
Image source: Getty Images.
There are thousands of cryptocurrencies in circulation today, but it's important to remember that without Bitcoin, most of them wouldn't exist. Bitcoin's creation and open-source code provided developers with a blueprint and starting point to create new cryptocurrencies. Although the cryptocurrency asset class has grown from one to many thousands, Nakamoto's creation remains the clear leader, not only in price but also in technology.
Although newer cryptocurrencies often tout features that provide greater scalability or revamped security models, Nakamoto's elegant yet simple design has proven to be the most robust, resilient, and capable blockchain. Boasting a track record of zero hacks and the highest levels of decentralization, Bitcoin remains the quintessential cryptocurrency in a class of its own.
Nakamoto created Bitcoin for various reasons in response to the Great Recession. One of the primary motivations mentioned in the white paper was to establish a decentralized payment system that does not require intermediaries, such as banks. While initially designed for transactions and still technically able to be used in this fashion, Bitcoin has evolved to become a preferred option for storing wealth in a decentralized system. Unlike fiat currencies that are subject to devaluation, Bitcoin provides another way to store wealth. Thanks to Bitcoin's sound monetary policy and finite supply, Nakamoto's creation has become a viable means for holders to preserve value.
Not only have Bitcoin's use cases evolved with time, but so has the code itself. While Nakamoto would still recognize the original Bitcoin, there have been a series of upgrades known as Bitcoin Improvement Proposals (BIPs) implemented over the past decade and a half that have enhanced Bitcoin's functionality. Two of the most popular BIPs have been dubbed SegWit and Taproot.
With the release of SegWit in 2017, Bitcoin transactions became faster and cheaper by changing how data is stored. Building off of SegWit, the Taproot upgrade was approved in 2021 to enhance privacy and smart contract capabilities by making all transactions appear uniform on the blockchain, a long sought-after feature. Best of all, even after all the improvements, Bitcoin still retains its fundamental features of decentralization and security, all while becoming more capable and efficient.
It has been a long and historic journey for Bitcoin -- and yet it is likely only beginning. What was once an obscure cryptocurrency used by tech enthusiasts has gone from processing just a few hundred daily transactions to more than 700,000. This extraordinary rise in adoption is now garnering attention from Wall Street juggernauts like BlackRock and Fidelity as they vie for approval for a Bitcoin exchange-traded fund (ETF). Not to mention, countries like El Salvador have embraced Nakamoto's creation as an official form of currency.
While Bitcoin is breaking through barriers in traditional finance, developments are occurring on a new frontier that could increase Bitcoin's prominence. In May 2023, Bitcoin got another new use case with the introduction of Ordinals. As a way for users to essentially mint non-fungible tokens (NFTs), Ordinals signify the growing interest in Bitcoin-based decentralized finance (DeFi). With the current DeFi economy worth more than $43 billion today, Bitcoin has been unable to participate in this burgeoning market due to limitations in its code. But with Ordinals and other technological developments such as Layer-2 blockchains like Stacks, the likelihood of Bitcoin entering DeFi is increasingly likely and could unleash pent-up capital in novel ways.
As more individuals, institutions, and even countries adopt Bitcoin, the demand for its limited supply of 21 million coins is intensifying. This trend makes it difficult to predict an exact target price for Bitcoin. However, one thing is clear -- the simple supply and demand dynamics suggest that the value of Bitcoin will rise.
Rather than speculating on Bitcoin's exact price target, it is best to focus on its significance, which may well be greater than any projection. With each passing day, Bitcoin is proving its resiliency, discovering new use cases, and filling gaps in the financial system. Therefore, the next 15 years could be even more revolutionary for Bitcoin than the first 15, as Nakamoto's invention paves the way for a new era of financial innovation.
RJ Fulton has positions in Bitcoin and Stacks. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy.