BLOCKCHAIN
Blockchains incorporate several important features such as immutability, encryption and distributed storage, which combined makes secure peer-to-peer transactions possible and in turn has created the means to end human dependence on credit and thus credit intermediaries. Due to these features, blockchain has been referred to as ‘the Trust Machine’ and is forecasted to transfer the trust from agencies and institutions which are enforced by law to machine-based networks guaranteed by technology and mathematics.
Immutable's zkEVM Marches Towards Mainnet with a Series of Milestones
Immutable progresses towards the Mainnet launch of its zkEVM, underpinned by a series of strategic milestones and a growing gaming ecosystem. The journey encompasses a testnet launch, re-genesis, the imminent mainnet release, and future dedicated app chains and prover integration, setting the stage for a robust gaming arena on the Ethereum blockchain.
Global Microfinance Market Projected to Reach $506 Billion by 2030
The global microfinance market, valued at $200 billion in 2022, is expected to grow to $506 billion by 2030, according to a new report by ResearchAndMarkets.com. The market is set to expand at a CAGR of 12.3% from 2022 to 2030. Microenterprises are identified as a vital growth driver for Microfinance Institutions (MFIs). The report also highlights the role of emerging technologies like AI and blockchain in shaping the industry.
FTX Japan Launches Blockchain-based Proof of Solvency to Enhance Transparency and Security
FTX Japan has introduced a blockchain-based Proof of Solvency (PoS) to ensure the transparency and security of its customer's assets. The PoS, announced on September 28, 2023, by COO Seth Melamed, enables the objective verification of asset management, allowing customers easy access to verify their balances. The details of PoS will be published weekly on the Ethereum blockchain, marking a significant step towards enhancing trust and transparency in the cryptocurrency ecosystem.
Ethereum's Layer 2s Break New Ground in Scalability
Ethereum has seen a 22% rise in value as of September 2023, largely attributed to the emergence of Layer 2 solutions like BASE by Coinbase, which enhance scalability and user affordability on the network. Leading Layer 2 blockchains, Optimism and Arbitrum, have surpassed major Layer 1 blockchains in Total Value Locked, indicating a growing trust and utilization in the Ethereum ecosystem. Despite centralization concerns, the progressive strides in Layer 2 solutions are poised to bolster Ethereum's standing as a dominant smart contract blockchain.
Coinbase Secures Major Payment Institution License from Singapore's Monetary Authority
Coinbase has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS), marking a significant milestone in its expansion into the Asian market. The license will enable Coinbase to offer digital payment token services to both individual and institutional clients in Singapore. This move aligns with the company's strategy to tap into Singapore's growing crypto and Web3 ecosystem.
DFINITY Unveils $20 Million ICP Asia Alliance to Propel Web3 Adoption
DFINITY Foundation launches the ICP Asia Alliance and a $20 million fund on September 28, 2023, to accelerate Web3 and AI adoption in Asia. The alliance aspires to unite diverse stakeholders, foster innovation, and catalyze the growth of the Internet Computer blockchain across the region, underlined by the establishment of multiple ICP.Hubs and strategic partnerships.
Circle Launches Circle Research with Perimeter Protocol
Circle launches 'Circle Research' to further technical innovation in crypto, blockchain, and Web3 through open-source research. The initiative's first contribution, Perimeter Protocol, sets a new standard for building on-chain credit markets. Circle releases the Perimeter white paper and public GitHub Repo to advance open protocol transacting with a focus on credit, catering to a wide range of credit scenarios.
nChain CEO Departs Accusing Dr. Craig Wright of Fraud
Christen Ager-Hanssen resigns as nChain's Group CEO, alleging serious internal issues and a conspiracy to defraud shareholders. He accuses Dr. Craig Wright of deceiving courts about being Satoshi Nakamoto, leading to a significant reaction from the cryptocurrency community. Discussions also touch on Ager-Hanssen’s past involvement with Algorand and the implications of his revelations on the Bitcoin SV community.
Blockchain Technology Powers Brazil's National Identity Card Issuance
Brazil has commenced the use of blockchain technology for issuing the National Identity Card (CIN) to enhance security and data integrity in the new identity issuance process. The initial phase begins in three states with a nationwide deadline set for November 6, 2023. This move is part of Brazil's broader initiative towards leveraging blockchain for public service improvement, aligning with global trends of digital identity verification.
Rated Labs Secures $12.888 Million in Series A Funding
Rated Labs, known for its Ethereum explorer and API services, has secured $12.888 million in Series A funding led by Archetype. The company plans to use the new capital to expand its services to multiple Layer 1 blockchain networks and enhance its existing product line.