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Revolutionary DeFi Protocol IPOR to be listed on Bitget on Mar 22nd … – Yahoo Finance

Bitget

Bitget to bridge the gap between DeFi and TradFi with IPOR practical solution for traditional finance players

Victoria, Seychelles, March 20, 2023 (GLOBE NEWSWIRE) -- Bitget, the largest crypto copy trading platform, has announced the upcoming listing of IPOR in its Innovation Zone of the spot market. The deposit services for digital assets will be available from 7 AM on March 22nd, 2023 (UTC), with trading set to commence at 12 PM (UTC) on the same day.

IPOR Protocol is a decentralized interest rate derivative exchange that utilizes the Inter Protocol Over-block Rate (IPOR) index. It offers non-custodian on-chain interest rate swaps through the IPOR Index, IPOR AMM, liquidity pools, and Asset Management smart contracts. The protocol aims to bridge the gap between DeFi and TradFi by providing risk management tools, including interest rate derivatives and indices, for the emerging DeFi credit markets. This enhances stability and makes fixed-income investments more appealing to traditional finance players.

IPOR team's vast experience, with members who have been in the crypto industry since 2011, gives it important advantages. It includes three PhDs, quants with over 20 years of experience in fixed income, enterprise software developers with over 15 years of experience, and advisors for Cardano and founder of 1inch. The interest rate derivative market in TradFi is enormous, between 450 and 600 trillion notional, yet untapped in DeFi. The IPOR protocol ranks as the Top 5 derivative platform by TVL, with over $40 million, and the Top 2 on Ethereum.

Gracy Chen, Managing Director of Bitget, says: "As a leading crypto exchange in futures trading and copy trading, expanding the product offerings is our major strategy this year. Even in the bear market, we are happy to support more promising projects in our fast-growing spot trading market, and we believe that IPOR's unique features will attract both DeFi and TradFi players, bringing DeFi to a wider audience."

According to Coingecko, Bitget's 24h trading volume is around $845 million, ranking 10th among all spot exchanges. The platform now supports over 460 coins with 529 trading pairs.

About Bitget

Bitget, established in 2018, is the world's leading cryptocurrency exchange with futures trading and copy trading services as its key features. Serving over 8 million users in more than 100 countries and regions, the exchange is committed to helping users trade smarter by providing a secure, one-stop trading solution. It also inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi, the leading Italian football team Juventus, and official eSports events organizer PGL. According to Coingecko, Bitget is currently a top 5 futures trading platform and a top 10 spot trading platform.For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord

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HashKey Group taps SlowMist for blockchain security and AML/CFT … – FinanceFeeds

The partnership will also see SlowMist leveraging its deep understanding of various fields, combined with the research and unique insights of HashKey Groups professional investment team, to study and explore the opportunities for these new technologies in development.

HashKey Group has partnered with SlowMist to enhance digital asset ecosystem security, anti-money laundering for digital assets, security technology research, and other technology fields, as part of its efforts todevelop comprehensive security standards and solutions that will safeguard HashKey Groups various business lines.

SlowMist offers a range of security solutions, including security audits, blockchain threat intelligence (BTI), defense deployment, as well as anti-money laundering (AML) and cryptocurrency tracking (MistTrack) services.

The firms SaaS security products include fake deposit vulnerability scanning, vulnerability monitoring (Vulpush), crypto hack archives (SlowMist Hacked), and smart contract firewall (FireWall.X).

SlowMist will provide HashKey Group with tailored security solutions from threat discovery to defense and help build HashKey Groups most critical security gate to deal with various security issues encountered in their development journey.

The blockchain security firm caters to hundreds of clients in both centralized and decentralized platforms, including some of the biggest names within the industry. The firm has audited more than 1,500 well-known smart contracts, covering Ethereum, Ethereum Virtual Machine (EVM)-based blockchains, EOS, Fabric, Solana, Klaytn, Aptos, and other public blockchains, having discovered hundreds of high-risk and medium-risk vulnerabilities.

In addition, SlowMist will provide HashKey Group with security consulting services to solve the needs of the entire security system and security lifecycle for target projects. They will also provide HashKey Group with comprehensive asset security solutions for online hot assets, cold assets, and DeFi assets, effectively helping HashKey Group improve the security and stability of their assets.

Besides blockchain security, SlowMist will also provide HashKey with an AML/CFT compliance solution with two key products:

The partnership will also see SlowMist leveraging its deep understanding of various fields, combined with the research and unique insights of HashKey Groups professional investment team, to study and explore the opportunities for these new technologies in development. This will consolidate SlowMists position as a leader in top digital asset financial service groups.

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Project claiming to be AI-powered drains $1M from users – Cointelegraph

As artificial intelligence (AI) recently became a trending topic due to the capabilities displayed by ChatGPT v4, a project claiming to be an AI-based decentralized application has taken almost $1 million from its users in a suspected scam.

Blockchain security platform CertiK has recently confirmed that Harvest Keeper has stolen around $933,000 of users assets at the time of writing. In addition, users have also lost around $219,000 from ice phishing transactions across the Ethereum, BNB Chain and Polygon networks, according to CertiK. The security firm urged users to revoke the permissions they gave the project and warned people to stop interacting with its website.

Harvest Keeper claims to be an AI project that optimizes the trading process for maximum payout and promises a 4.81% return on user deposits. On its website, the platform promises a 101% return on investment within 21 days and an 8% referral reward. The project has almost 30,000 followers on Twitter and more than 32,000 followers on its Telegram channel.

Cointelegraph reached out to Harvest Keeper for comments but did not get a response.

Related: BingChatGPT pump and dump tokens emerging by the dozen: PeckShield

Meanwhile, as the ChatGPT hype resurfaced on Twitter, dozens of accounts claiming to be related to CryptoGPT haveemerged on the social platform. On March 10, a hashtag associated with a token project called CryptoGPT was trending on Twitter. With it, several similar accounts have emerged, with some advertising fake giveaways. Dozens of Twitter accounts with a similar name have also plagued the social platform, with some offering giveaways and airdrops suspected to be fake.

As the newest version of ChatGPT showed that it could audit smart contracts on Ethereum, many speculated whether it could eventually replace developers. However, at the recent ETHDubai event, blockchain developers expressed that they are confident that the new iteration of the popular AI tool will not replace developers but will help them.

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Helio Protocol: The revolutionary USD Destablecoin backed by BNB – AMBCrypto News

Stablecoins have emerged as one of the most significant innovations in the crypto sector. These stablecoins were seen as the entry point to broad cryptocurrency adoption since they provide a stable store of value compared to more volatile assets such as BTC. Nonetheless, because of its centralized management structure and sensitivity to inflation, it works mostly like a fiat currency.

Although fiat-backed, centralized stablecoins such as USDC, USDT, and BUSD have been widespread, alternative forms of stablecoins promising to address these shortcomings have gained traction.

Crypto-backed stablecoins are the primary alternative to fiat-backed stablecoins. Thesestablecoins typically utilize a unique combination of behavioral economics, smart contracts, andcarefully designed algorithms to maintain the peg to fiat currencies without the controlof a centralized custodian.

Helio Protocol strives to upgrade existing stablecoin initiatives by focusing on safety and capital efficiency with a revolutionary model.

Helio Protocol

Helio Protocol is an open-source liquidity protocol built on the BNB Chain that features a dual token model and tools for quick conversions, asset over-collateralization, borrowing, yield farming, and staking.

The protocol allows users to borrow and earn interest on HAY destablecoin. This new asset class is over-collateralized with liquid-staked asset BNB. The protocol seeks to establish HAY as the dominant destablecoin in the BNB Chain ecosystem.

Leveraging proof-of-stake (PoS) rewards, liquid staking, and yield-bearing assets.Helio Protocol will operate as a DAO, where the community will govern the protocolstreasury, revenuepool, and future direction.

The rise of various decentralized stablecoin projects over the last several years to gain market dominance has produced a very intense and competitive environment. As a result of this competitive dynamic, projects are promising more ambitious promises and payouts than the next player if customers opt to invest.

To make matters worse, the lack of a clear leader and historical best practices have prevented users from doing their research and discerning effectively between the influx of new stablecoin projects.Several initiatives have ignored their long-term sustainability to get consumers in the short term, which has considerably slowed down the goal of broad market adoption.

Stablecoins built on the Ethereum blockchain continue to use costly and ineffective proof-of-work mechanisms. On the other hand, the BNB Chain has the potential to offer the same maturity and scale as Ethereum, but with lower cost and far greater efficiency. Yet, there currently needs to be a dominant stablecoin that is decentralized and safe for users within the BNB ecosystem. As a result, there is a market need for a sustainable yet profitable stablecoin project, which Helio Protocol intends to fill.

Helio protocol aims to overcome concerns such as frozen funds (fiat-backed) or held value loss (algorithmic) due to price volatility by combining liquid staking, the functionality of the MakerDAO model and added liquidity from LPs on DEXs.

Helio Protocol introduces the concept of Destablecoins, a new asset class inside the crypto space that seeks to represent a new model in the existing stablecoin environment. The word destablecoins aids in the achievement of the following goals:

1) The prefix de in destablecoins refers to decentralized, which distinguishes products like HAY from classic stablecoins like BUSD and USDC, which are governed by a centralized custodian. This also contributes to the evolution of stablecoins from centralized to decentralized, and the DeFi sector as a whole.

2) Destablecoins strives to establish widespread stability without absolute reliance on fiat currencies. Because all currencies are distinct and have various reference rates, price fluctuations should be seen as a standard determined by the free market rather than striving for absolute price stability at all costs. Similarly, destablecoins do not seek absolute price parity with the US dollar as a primary objective nor do they rely on fiat assets as collateral.

3) The terms stablecoin or algorithmic stablecoin is often misleading, because all stablecoins, even fiat-backed ones, have the ability to de-peg, although at a considerably lower level. The stablecoin sector is under ongoing criticism since many retail investors over-invest in the promise of constant stability, leaving themselves exposed to considerable financial loss during such an occurrence.

The word destablecoins emphasizes the inherent risk of stablecoins and encourages users to invest more responsibly, resulting in a healthier and more sustainable user environment.

HAY is an overcollateralized destablecoin backed by liquid-staked BNB and is redeemablefor a $1 USD value of cryptocurrency. The Helio Protocol can ensure HAY is redeemable following the scenarios below.

When HAY > $1, the supply of HAY will have to be increased.

When HAY < $1, the supply of HAY will have to be reduced.

Upon launch, HAY will be issued as a BEP-20 compatible token. Its use cases include the following:

The Helio Protocol is designed to offer users an alternate way to produce long-term income and unlock liquidity for their crypto assets. The protocol loans HAY to borrowers that employ liquid-staked BNB as collateral. In exchange, it earns a competitive interest rate on its collateralized assets via HAY staking and DEX liquidity.

Helio Protocol aspires to be the BNB Chain ecosystems top destablecoin and reliable reference rate enabler. Users will be investing in the greater Helio ecosystem by holding and borrowing HAY to make it the go-to settlement layer throughout the broader crypto world.

To know more about the platform, please visit their official website.

Disclaimer: This is a paid post and should not be treated as news/advice.

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How Will Bitcoin DeFi Gain Importance in 2023? Cryptopolitan – Cryptopolitan

In 2023, DeFi (Decentralized Finance) applications on Bitcoin are proving to be highly relevant and vital. The reason is that these applications can solve many of Bitcoins challenges, such as scalability, enabling users to interact with the network more efficiently. With DeFi applications, users no longer have to wait for extended periods to complete transactions or pay high fees.

DeFi applications offer a range of features, such as escrow services and lending platforms, which can increase the usability of Bitcoin and make it more attractive to potential users.

Bitcoin DeFi refers to developing innovative decentralized applications on Bitcoins blockchain network. Bitcoins Scripting language, although heavily reliant upon for the core purpose of its network, offers limited programmability due to it needing to be Turing complete. As a result, loops and other logical operations cannot conduct on the main Bitcoin network without additional programming.

To get around this limitation and enable the building of decentralized finance (DeFi) applications on Bitcoin, layer-2 scaling solutions and side chains are used to host smart contracts on the platform. The Taproot upgrade remained the same, focusing more on privacy and scalability improvements than on increased programmability. With the emergence of DeFi on Bitcoin, users can access decentralized applications and protocols on the Ethereum blockchain using a variety of tokens like Wrapped Bitcoin (wBTC).

wBTC provides users with a bridge between Bitcoin and Ethereum, allowing BTC to be used as an asset in Ethereum-based smart contracts. In addition, they open up several new possibilities for cryptocurrency usage and promote greater interoperability between blockchains while allowing users to access DeFi protocols without having to convert their BTC. This allows us to move resources between different systems, creating a dependable experience for the user.

The Bitcoin DeFi ecosystem is multiplying, with many projects emerging to address Bitcoins scalability issue. In 2023, the list of such projects includes Lightning Network and Drive Chain solutions and many decentralized applications (apps) and platforms that enable users to interact with their asset holdings in trustless ways.

Here are projects defining the Bitcoin DeFi space in 2023:

Bity: Bity is a Swiss-based asset management platform that provides users with an easy way to access and manage their Bitcoin holdings.

Eidoo: Eidoo is an all-in-one blockchain asset platform that allows users to buy, sell, and manage their crypto assets securely and conveniently.

imToken: imToken is a mobile wallet app that provides users an easy and secure way to store, send, and receive cryptocurrencies.

ZenGo: ZenGo is a keyless crypto wallet that allows users to easily store, manage, and transfer their assets securely.

Bisq: Bisq is a decentralized Bitcoin exchange that enables users to trade crypto assets without relying on centralized third parties.

Badger DAO: Badger DAO is a decentralized autonomous organization that enables users to join forces and create financial products for the benefit of all.

MoonPay: MoonPay is an open-source payments platform that allows users to buy, sell and manage Bitcoin and other crypto assets securely and conveniently.

QuickNode: QuickNode is a platform that enables users to quickly and easily deploy Bitcoin nodes on the cloud.

RSK: RSK is an innovative smart contract platform that enables users to build DeFi dApps on Bitcoin.

Lightning Network: The Lightning Network is a layer 2 scaling solution for Bitcoin which enables faster and cheaper transactions by reducing the load on the main Bitcoin blockchain.

Stacks: Stack is a platform that allows users to build and deploy Bitcoin-based applications in a secure and trustless manner.

Money on chain: Money on Chain is a stablecoin protocol collateralized using Bitcoin.

Wrapped Bitcoin: Wrapped Bitcoin (wBTC) is a tokenized version of Bitcoin that allows users to use BTC in Ethereum-based smart contracts and decentralized applications (dApps).

pNetwork: pNetwork is a platform that enables users to swap cryptocurrencies across different blockchains while preserving the value of their holdings.

Dune analytics: Dune analytics is a platform that provides users with real-time insights and data on the Bitcoin DeFi ecosystem.

Chainlink Price Feeds: Chainlink Price Feeds is a decentralized oracle network that provides on-chain real-time price data for DeFi projects.

Token Terminal: Token Terminal is a web-based platform that provides users with detailed analytics and insights into DeFi projects, tokens, and assets.

In January 2023, shaking up the Cryptocurrency space with the launch of Ordinals, a new protocol was introduced by former Bitcoin Core contributor Casey Rodarmor.

Taking advantage of Bitcoins Taproot upgrade pioneered in 2021, this newly implemented protocol expands the capabilities of cryptocurrencies and empowers their users with features that were only available off-chain.

Its biggest draw is enabling on-chain Bitcoin-native NFTs that offer a unique crypto experience. Ethereum has been trying to replicate its innate approach but has yet to progress.

Taproot provides a myriad of promising opportunities for the near future. For example, it offers an efficient way to condense the size of transactions, which requires fewer data usage, and encourages developers to use smart contracts on the Bitcoin platform.

Taproot puts in place advanced cryptographic protocols that significantly increase the possibility of DeFi and NFT applications on the Bitcoin network. Taproot offers many advantages that provide more privacy, lower fees, and scalability capabilities.

Altogether, Taproot revolutionizes the entire blockchain ecosystem and makes way for many applications within the Bitcoin platform, including NFTs and DeFi, by advancing its already highly secure decentralized layer.

Bitcoin DeFi is a rapidly emerging and growing technology that has the potential to revolutionize the financial industry. It offers many advantages, such as trustless transactions, increased liquidity, improved privacy, and low transactional fees.

DeFi projects built on Bitcoins network also offer users an innovative way to invest in assets such as cryptocurrencies, stablecoins, tokens, and non-fungible tokens (NFTs).

Bitcoin DeFi promises to bring financial services to populations currently underserved by traditional banking or finance systems.

The emergence of Bitcoin DeFi has also brought forth a new wave of decentralized applications that could revolutionize how we interact with the financial system. Utilizing the strength of

Bitcoin and its blockchain technology, these projects are paving the way for a new era in financial services that anyone with an internet connection can easily access.

Overall, Bitcoin DeFi is a powerful tool that promises to revolutionize how we view financial services and has already brought forth countless innovative applications to the cryptocurrency space.

The future looks promising, and there are a lot of exciting developments we can look forward to soon. Innovative projects like Ordinals, wrapped Bitcoin, Money on Chain, and Lightning Network are pushing the boundaries of what is possible, and we will see even more advancements in the future.

The possibilities offered by Bitcoin DeFi are seemingly endless, and we will witness an explosion of applications and services soon. With Taproot making it easier for developers to create more sophisticated smart contracts, the blockchain world has become a much more inviting place for entrepreneurs and innovators to explore new projects and ideas.

Bitcoin DeFi is a dynamic and fast-developing field with many potential applications yet to explore. However, with the Taproot upgrade paving the way for more sophisticated smart contracts, the future looks dazzling regarding what developers can create and offer on Bitcoins network.

Investors should note these developments as they will yield some fantastic projects that could revolutionize the blockchain space in years to come. Bitcoin DeFi will take the world by leveraging new protocols and technologies like Taproot. We cant wait to see what the future brings!

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Australia’s largest bank breaks blockchain barrier with Ethereum … – Cryptopolitan

One of Australias largest bank, National Australia Bank (NAB), has broken the blockchain barrier by becoming the first major financial institution to complete an intra-bank cross-border transaction on the Ethereum blockchain using its own NAB-issued stablecoin.

The successful pilot transaction on the Ethereum blockchain has utilized smart contracts for seven major global currencies, with NAB investing in the development of Australias safest, simplest, and most secure digital asset ecosystem.

The transactions success indicates the potential to significantly reduce the time and cost of cross-border transactions, benefiting NABs corporate and institutional clients operating in multiple jurisdictions and currencies.

Drew Bradford, NABs executive general manager of markets, said the bank is committed to pursuing the right digital asset opportunities with clear customer benefits.

The success of the transaction was achieved through the rigorous governance frameworks in place, ensuring that NAB can support the creation of a safe and reliable digital financial system.

NAB plans to fully back its Australian stablecoin, AUDN, one-for-one with the Australian dollar, and manage it as a liability of the bank.

This makes it the cornerstone for NABs ambitions in digital assets, and the bank aims to support select clients in transacting with digital assets by the end of 2023.

NAB collaborated with Blockfold and Fireblocks to build and deploy its stablecoins on the Ethereum blockchain. This involved utilizing their expertise in smart contract creation, secure minting and burning of stablecoins, and managing custody of digital assets on the blockchain.

BlockFold CEO and co-founder Francois Schonken said: NABs multi-currency cross-border settlement execution on a public blockchain is exhilarating.

The NAB eco-system of stablecoins puts in place cross-border payment rails that unlock tokenisation potential for both real world assets and financial products.

Michael Shaulov, CEO and co-founder of Fireblocks, said the successful trade execution marks the beginning of the evolution of financial services from Web2 to Web3, underpinned by blockchain technology, strong governance, and risk management.

The Ethereum blockchain transaction is a significant milestone for the banking sector, offering new ways to interact with customers, and drive engagement.

NABs ambition is to enable transactions across seven of the top globally utilized currencies: Australian, New Zealand, Singapore, and US dollars, Euro, Yen, and Pound Sterling.

As the first major financial institution to complete an intra-bank cross-border transaction on the Ethereum blockchain, NAB has taken a significant step forward in transforming financial services from Web2 to Web3.

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How Can Blockchain 4.0 Technology Revolutionize Interactions with … – Cryptopolitan

Blockchain 4.0 is a term that describes the fourth generation of blockchain technology and its use in the industry. It represents an evolution of previous blockchain generations, providing new solutions to make blockchain technology more suitable for businesses. With the combination of distributed ledger technology, smart contracts, and machine learning, blockchain 4.0 technology will revolutionize the interaction of businesses and individuals with data and digital assets.

Blockchain 4.0 came into being after the development and evolution of versions 1-3. Combining these three elements has enabled blockchain 4.0 to offer improved scalability, security, privacy, speed, and efficiency.

Blockchain 1.0, the initial version of distributed ledger technology (DLT), was primarily used as an underpinning for digital currencies. Bitcoin is the leading cryptocurrency that uses these technologies, acting as a decentralized Internet payment system for those interested in an Internet of Money. They create a simple and secure way to execute financial transactions without relying on any single third-party authority. With this capability, it isnt surprising why cryptocurrencies such as Bitcoin have seen so much success since developers introduced DLT.

Smart Contracts are the latest innovation from Blockchain 2.0 technology and have revolutionized how we administer digital contracts. Smart contracts are self-executing computer programs that verify, facilitate and enforce the performance of contractual agreements without requiring a third party or intermediary. As a result, they save time and money in verification processes and ensure security by making it impossible for Smart Contracts to be tampered with or hacked because of their incorporation into the blockchain. One of the most popular applications of this technology is Ethereums implementation of Smart Contracts, which provides an easy and efficient way to carry out contractual terms while protecting against moral hazard risks.

Blockchain 3.0 is the concept of decentralized applications, better known as DApps. A DApp is an application whose backend code runs on a decentralized peer-to-peer network instead of centralized servers. The technology allows for data and operations to occur without a central authority or disruption in service.

You can use DApps for different activities such as financial services, file storage, communication systems, and other purposes requiring access from multiple users across different geographies. Blockchain 3.0 increases applications efficiency, scalability, and security by using smart contracts and revolutionizing tasks.

Blockchain 4.0 is the latest term for blockchain solutions that make it applicable to industry demands. It combines the concepts of Industry 4.0, with its focus on automation, enterprise resource planning, and integration of systems, with the added trust element provided by blockchain technologies such as distributed ledgers and smart contract technology. They allow businesses and industries to ensure their data security and establish trust between parties digitalizing their processes. In addition, it opens up possibilities for better scalability and privacy controls for companies embarking on digital transformations.

Security risks: Despite the safety and trust provided by blockchain networks, security risks are still associated with their use. Hackers can exploit weaknesses in the system or find a way to access stored data.

Regulatory uncertainty: As blockchain technology is relatively new, governments and other regulatory bodies may need clear regulations creating tension for companies, as they may need help complying with the rules or regulations.

Market volatility: Crypto assets and tokens are highly volatile, and their prices fluctuate quickly. Therefore, businesses must exercise caution when investing in them, as their investments may not yield the expected returns.

Lack of expertise: While blockchain technology is gaining popularity, a few developers and experts still have proper in-depth knowledge about it. Companies may need help finding the right personnel for their projects or initiatives, leading to problems with implementation and maintenance.

Healthcare: Blockchain 4.0 technology secures and privatizes medical records, providing a safer and more efficient way of sharing patient data between stakeholders.

Banking & Finance: Blockchain 4.0 enables banks and other financial institutions to provide more secure digital payments, faster transaction times, 24/7 access to funds, improved customer service, and better risk management.

Supply Chain Management: With its ability to store and manage data securely, blockchain 4.0 has utility in supply chain management to trace the origins of products, verify authenticity, reduce costs, and improve efficiency.

Government: Governments can use Blockchain 4.0 to simplify processes such as filing taxes, tracking voting records, and managing public services more efficiently.

Real Estate: we can apply The immutability of blockchain technology to real estate transactions to provide a secure digital title registry that is tamper-proof and transparent while streamlining property transfers between parties.

Insurance: Blockchain 4.0 can reduce fraud within the insurance industry by providing an immutable record of transactions that any single party can not alter or manipulate.

These are just a few potential use cases for blockchain 4.0. As technology evolves, more industries will likely take advantage of the many benefits provided by this revolutionary new system.

Blockchain 4.0 is the latest iteration of blockchain technology, offering improved scalability, security, and privacy for businesses looking to maximize their efficiency. Despite the risks associated with its use, we can apply many potential use cases across various industries. This technology has the potential to revolutionize how we store, manage and transact data, and it is only a matter of time before we see its influence in our daily lives. The key to successfully implementing blockchain 4.0 technology is ensuring that companies have the resourcesexpertise, personnel, infrastructure, and fundingto deploy it correctly.

As this technology continues to evolve, more and more businesses will take advantage of its potential, leading to a more efficient, secure, and transparent digital economy.

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Bitcoin builds on rally as banking crisis attracts buyers (Cryptocurrency:BTC-USD) – Seeking Alpha

N Rotteveel/iStock Editorial via Getty Images

Bitcoin (BTC-USD) extended its rally to a nine-month high in Monday morning trading as the tumult surrounding the banking sector spurred speculation that the Federal Reserve would slow the pace of interest-rate increases.

The token climbed 3.6% to $28.29K at 8:36 a.m. ET, helping drive up the global crypto market value by 1.1% to $1.18T, according to CoinMarketCap data. Its upswing comes after soaring 26% last week, marking the biggest weekly gain since April 2019.

A slew of altcoins, though, slipped during the session, including ethereum (ETH-USD), which edged down 0.3% to $1.78K.

"The recent macro reset (banking crisis) has accelerated the recovery path," Bernstein analyst Gautam Chhugani wrote in a note, adding that "the fundamental shift is that crypto is now trading as a risk-off, uncorrelated asset, and the last 2 years prior to FTX' demise, was more an aberration as a risk-on asset."

Crypto-exposed stocks, especially those affiliated with the bitcoin (BTC-USD) mining space, gapped up during the premarket session, despite uncertainty prevailing across the broader stock market ahead of the Fed's rate decision on Wednesday. Marathon Digital (MARA) gained 4.2%, Riot Platforms (RIOT) perked up 5.9%, MicroStrategy (MSTR) +4.9% and Coinbase Global (COIN) +3.4%.

See why SA contributor The Digital Trend last week justified bitcoin as a Strong Buy.

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The vision of MotoGP’s new ‘not cryptocurrency!’ team owner – The Race

When it was first announced that Razlan Razalis RNF Racing MotoGP team would be joining up with Romanian tech company CryptoData for 2023, many thought that the deal was simply a new title sponsorship contract for the squad as it prepared to ditch Yamaha and trade the M1s in for Aprilia RS-GPs.

However, as it soon emerged, the new deal is much more than that. Instead, CryptoData will not just take over the teams naming rights from former Sepang Circuit boss Razali but in fact take over the team itself, buying into his set-up while leaving him in place as the principal (a condition of the deal believed to have been stipulated by series organiser Dorna).

But thats a deal that its fair to say has been met with confusion by many both inside and out of the MotoGP paddock, asking why a relative newcomer to the worlds of both bike racing and technology is buying into a MotoGP team and even questioning what exactly it is that CryptoData does, thanks to its somewhat misleading name.

However, according to Ovidiu Toma, the founder of the brand, its not as random as it seems, given where his company is trying to position itself and what he believes being a more integrated part of the MotoGP paddock can bring as CryptoData looks to expand.

CryptoData first linked up with MotoGP as a sponsor of the series itself before then moving across to Razalis team at the end of 2022 following the collapse of the teams previous partner WithU (and has since appeared on Alfa Romeo-Saubers new 2023 F1 car), and Toma said that his introduction to MotoGP convinced him that a bigger investment was worthwhile.

Probably our biggest hobby is motorsport, he told The Race. We considered that we could join our technology with our passion. We started in MotoGP in 2022 with the Grand Prix of Austria, which was our first contract in-house with Dorna.

We found them to be super supportive like a family. Apart from some other sports that I wont name because its not fair, Ive found MotoGP to be more like a nice family rather than a grumpy, sober business.

We liked it and we wanted to do more than just a title sponsorship [of a race], so we started to talk to the owners. We got to meet Razlan, we got to understand what inside the team as a business looks like, and we had the opportunity to work with him, to become partners and shareholders in the team.

And while the companys previous moves into motorsport might have all been via sponsorship and not ownership, former telecommunications engineer Toma said that he believes investing directly will fully allow CryptoData to utilise its own skills to grow the squad in the coming years.

Our position is as a MotoGP shareholder along with Razlan, Toma explained to The Race, and well make some of the management decisions. But well never claim we are that skilled in motorsport either, and the motorsport decisions the management decisions about bikes, riders, tyres, parts that will be given and left with those who know it, [team manager] Wilco [Zeelenberg] and Razlan.

Our approach is on the marketing side. Were the youngest among the teams in terms of management, and with a younger mindset, with technology and coming from the digital era, thats where we consider we can improve a lot.

For results management, for decision-making, for brand awareness, for management. Apart from our business, the MotoGP team is a separate entity, and we have to grow it.

We have high targets, which is hard in a transition year with new bikes, new riders, new management, and with very competitive other teams. But we have a chance and we want to reach somewhere near the top. I wont name it because I dont want to be called optimistic or pessimistic, but we want to be near the top.

RNF is in a very promising position heading into its first season under the CryptoData banner, with new riders Miguel Oliveira and Raul Fernandez having taken extremely well to the Aprilia bike through pre-season testing.

Beyond investing into MotoGP and attempting to turn the team into a profit-making business, its clear CryptoData also sees it as an opportunity to grow its core business, which, despite the name, the company insists has nothing to do with the world of cryptocurrency but instead digital security.

To make it clear from the very beginning, Toma stressed, CryptoData does cryptography not cryptocurrency. That means encryption, cyber security applications, developing software and hardware, building secure enterprise systems. Were IT guys and not cryptocurrency!

We first set up the company in 2013, first as a data centre that we then turned into a research and development facility for securing other things.

Cryptography has become confused with cryptocurrency. Thats a financial application of the cyber security algorithms, and probably the most known, but we took it a different way and are looking how we can implement it in other industries.

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What are the Howey test and its implications for cryptocurrency? – Cointelegraph

What is the Howey test?

The Howey test is a legal test used in the United States to determine whether a transaction qualifies as an investment contract and, thus, is considered a security under federal law. The test was established by the U.S. Supreme Court in SEC v. W.J. Howey Co. (1946), and it has since been applied in numerous cases to determine whether various financial arrangements and offerings constitute securities.

According to the Howey test, a transaction must contain an investment of funds in a group venture with the expectation that all gains will come from group efforts. A transaction is deemed a security if it satisfies these requirements, in which case it is subject to federal securities laws and regulations.

The test involves three key criteria that must be met in order for a transaction to qualify as a security, as discussed below:

The first criterion is a financial investment, which means that participants in the transaction must be risking their own money. This comprises both financial and in-kind investments.

The second requirement is a shared enterprise, which denotes that the financial success of the investors is somehow connected. This can be proven by providing evidence of the investors resource pooling or reliance on a third party to manage their investments.

The third criterion is an expectation of profits solely from the efforts of others, which means that the investors are relying on someone else to generate a return on their investment. This could include, for example, profits generated by a third-party manager or profits generated by the efforts of a particular group or organization.

The implications of the Howey test for cryptocurrency are significant, as the test provides a framework for determining whether a particular cryptocurrency offering should be classified as a security under U.S. law. If a cryptocurrency offering meets the criteria outlined in the Howey test, it may be considered a security and subject to federal securities laws.

This has important ramifications for crypto businesses and investors since breaking federal securities laws can result in penalties, legal action and reputational harm to the business. To make sure they are in compliance with federal securities laws, cryptocurrency companies should carefully consider the Howey test before creating their offerings.

Related: Crypto and securities: New interpretation of US Howey test gaining ground

Tokens that do not pass the Howey test are considered utility tokens that provide investors with access to a future product or service or can be redeemed for discounted fees.While utility tokens are typically not considered securities, the SEC has suggested that the presence of a utility token framework does not necessarily mean that a project is exempt from being classified as a security.

Ultimately, the implications of the Howey test for cryptocurrency will depend on how regulators choose to apply the test in practice and how cryptocurrency companies choose to structure their offerings to comply with federal securities law.

Cryptocurrency companies need to be aware of the federal securities laws in the United States to ensure compliance with them. Here are some key things to keep in mind:

Therefore, cryptocurrency companies need to be aware of and comply with federal securities laws in the United States. This includes understanding whether their tokens are considered securities, disclosing the use of funds, and complying with registration and disclosure requirements.

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What are the Howey test and its implications for cryptocurrency? - Cointelegraph

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