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Latam Insights Encore: El Salvador's Bitcoin Education Investments Set to Pay Off in Adoption
El Salvador has been surpassing its peers in Latam regarding bitcoin and cryptocurrency adoption since 2021 when President Nayib Bukele pushed and approved the so-called bitcoin law, making the original cryptocurrency legal tender in the country. However, adoption, as many reports from several sources have disclosed, has not been growing steadily.
Despite this, Bukele has not abandoned its bitcoin drive, and has been investing to make Salvadorans understand the relevance of bitcoin in today’s geopolitical and economic situation. At several levels, the Salvadoran state has introduced bitcoin operational and philosophical knowledge to its citizens.
One of these projects is currently in the pilot stage and involves a partnership with Mi Primer Bitcoin (MPB) to introduce bitcoin instruction content in school courses. This would be targeted to increase adoption in the future with new generations. But a recently revealed initiative helps to elucidate the full strategy of Bukele’s bitcoin movements. Read More
Russia To Launch New Cryptocurrency Trial for Cross-Border Payments To Overcome Sanctions: Report
Russia is reportedly gearing up to launch a new crypto-based cross-border payments system in an effort to overcome economic sanctions.
Bloomberg reports that the Russian government wants to use digital tokens for cross-border transactions to help ease payment difficulties for its companies that have been affected by international sanctions placed on the country.
According to people “with knowledge of the matter who asked not to be named discussing private information,” Russia will attempt to use the National Payment Card System (NSPK) to trade rubles and crypto assets when testing payments and the exchange platform.
The NSPK was created in 2014 and is wholly owned by the Central Bank of Russia, but was placed under sanctions in February 2024 by the United States Department of the Treasury.
Bloomberg’s sources say that any existing cryptocurrency can be used for the experiment, and that the Russian government may allow its Moscow Exchange and the St. Petersburg Currency Exchange to build their own crypto platforms if the trial is successful.
Russian state publication Izvestia recently reported that Russia is looking to legalize the use of stablecoins to make cross-border payments. Read More
Humans.ai snaps up Starfish Technologies to drive blockchain innovation
European artificial intelligence and blockchain technology provider, Humans.ai has acquired Starfish Technologies, inventor of TensorChain and part of Home of Prodigy, in a cash and shares deal.
This acquisition marks a significant step forward in the development of TensorChain, a ground-breaking innovation designed to revolutionise the way blockchain handles artificial intelligence deployment through the power of tensor-based operations.
Starfish Technologies is a blockchain engineering studio, renowned for its expertise in designing, implementing, securing, and deploying Solidity smart contracts on EVM-based blockchains. The company has developed innovative solutions for a range of global industry leaders, including Animoca Brands, OneFootball, Phantom Galaxies, Grease Monkey and others.
As part of this acquisition, Razvan Costin, the founder of Starfish Technologies, is joining Humans.ai as Head of Innovation and board member, further strengthening the company’s leadership and commitment to pioneering advanced technologies.
Sabin Dima, the CEO of Humans.ai, said: “This acquisition is more than just a strategic expansion of our R&D capabilities, it’s a significant move toward a future where AI is powerful, accessible, fair, and decentralised. From the beginning, Humans.ai has been at the forefront of AI and blockchain innovation, and the technologies developed by Starfish Technologies perfectly complement our vision. As global AI adoption accelerates, we are confident that TensorChain will be transformative for the industry.” Read More
Sony debuts Soneium Minato testnet, Web3 developer incubator
Developers on the new blockchain will have a chance to receive investment and other forms of support from a wide range of Web3 firms.
Sony Block Solutions Labs (Sony BSL) launched the Soneium Minato public testnet and Soneium Spark incubator on Aug. 28. The layer-2 Soneium blockchain, developed by Singapore-based Startale Labs, a Sony subsidiary, debuted a week earlier as Sony’s boldest move into the Web3 space so far.
Soneium Spark will offer developers a package of benefits that include investment of up to $100,000 and other funding opportunities available through the program’s partners. Eligible developers will also receive “official support from Sony Group, Astar Network, and Startale,” Sony Block Solutions Labs director Sota Watanabe said in a statement.
The Astar Network is a “special partner” of the new blockchain and will provide support to Soneium Spark participants along with USD Coin issuer Circle, Ethereum layer-2 solution developer Optimism, development platform Alchemy, decentralized indexing system The Graph and oracle network Chainlink. Soneium uses Optimism’s OP Stack codebase. Read More
The New Mini Blog Newsfeed Is Here At Markethive! A significant achievement unlocked, with many more to come
The Markethive Social Market Broadcasting Network is rapidly gaining prominence as a blockchain-based ecosystem that empowers entrepreneurs with a unique blend of uncensored expression and impartial dialogue, fostering a spirit of collaboration. This sets it apart from the often divisive and restrictive social media landscape.
At Markethive, your experience is our top priority. That's why we're recognized for our evolutionary and innovative ethos. We consistently broaden our decentralized, all-encompassing platform, creating a distinctive news feed interface that fully captures the user's experience.
We operate as an Inbound Marketing platform similar to Marketo and Paragon. The platform is comparable to popular platforms such as YouTube, Instagram, LinkedIn, and Twitter. However, we aim to surpass these traditional Web 2.0 media platforms with the upcoming release of Markethive 2.0, which includes various new features and an improved layout.
In contrast to traditional social media platforms, which rely on a single, primary news feed algorithmically set by the central authorities, Markethive's innovative approach will incorporate four distinct news feeds tailored to support the diverse range of features and functions within the Markethive ecosystem.
Markethive's feeds, including the Conglomerate or general newsfeed, video content, blogging, and curated content, are all about putting you in control. With advanced algorithms, you can tailor these feeds to your preferences, giving you the power to shape your Markethive experience. Markethive's reach is vast, as it consolidates the various features of other platforms into a single, unified system. Read More
Critical bug identified and remedied in Circle’s Noble-CCTP
Blockchain security firm Asymmetric Research privately disclosed the vulnerability to Circle, which has since been addressed.
On Aug. 27, Asymmetric Research revealed it identified a critical bug in Circle’s Noble-CCTP, a component of the USDC Cross-Chain Transfer Protocol, on the Cosmos network.
According to the Web3 security firm, a malicious actor could have potentially sidestepped the cross-chain transfer protocol’s message sender verification process to mint fake USDC tokens on the Noble bridge.
More specifically, the Noble-CCTP “ReceiveMessage” handler was accepting “BurnMessages” from any sender without first checking that the bridging message was sent from a verified “TokenMessenger” address on the original chain. The security firm outlined the vulnerability in greater detail:
"An attacker could have been able to exploit this and trigger malicious USDC mints by sending a fake BurnMessage directly through a CCTP MessageTransmitter contract, using the Noble-CCTP module address and Noble’s chain—ID as the CCTP destination." Read More
Ondo’s USDY yield coin expands to Arbitrum
Tokenized treasury products are gaining widespread adoption on blockchain networks.
Ondo Finance, a real-world asset (RWA) protocol, is expanding access to Ondo US Dollar Yield Token (USDY) to Arbitrum, an Ethereum layer-2 scaling network, according to an Aug. 27 blog post.
Ondo’s USDY is a yield token designed to let users earn up to 5.35% annual percentage return on stablecoins such as USD Coin. Each USDY token is backed by bank deposits and short-term treasury bills, according to Ondo.
The launch “pav[es] the way for some of the largest decentralized finance applications to leverage our tokenized US Treasuries,” Katie Wheeler, Ondo’s vice president of partnerships, said in a statement.
USDY has a total value locked of $364 million and is also available on eight blockchain networks, including Ethereum and Solana. Ondo also offers another tokenized treasury product, Ondo Short-Term US Government Treasuries (OUSD). Read More
This data protocol has developed easy-to-use hardware to put an end to ‘rental web’
Software alone is not enough to compete with the Big Tech. This is why, a DePIN platform has built its own devices to create a true decentralized network.
Functionland is a decentralized data storage platform known for a suite of data storage-focused decentralized applications (DApps) powered by the company’s plug-and-play data hardware.
By leveraging unused computer resources, Functionland’s Fula Network seeks to create decentralized, cost-effective and globally available data storage that focuses on user control and privacy. This enables users to opt for a blockchain-powered platform to backup, download and migrate images and files from popular Web2 services.
As a peer-to-peer (P2P) architecture specifically designed for data management, Fula Network provides a secure and encrypted decentralized storage network powered by blockchain nodes. While the cloud storage offerings from Big Tech are heavily centralized and take control over how user data is processed and shared, Fula Network uses blockchain technology to handle data management while giving full data ownership to individuals.
Fula Network lets users share resources fairly and securely. Users can offer storage, content and applications to others. The network is made up of smaller groups of users, usually based on how close they are to each other, to keep the network running smoothly, with less delay and fewer server jumps. Read More
Flare Network Integrates Polyhedra’s ZK Bridge for Enhanced Cross-Chain Security
According to the announcement shared with Bitcoin.com News, the integration of ZK Bridge with Flare enhances cross-chain security through the use of zero-knowledge proofs (zkSNARKs). ZK Bridge, a decentralized verifier network supporting over 30 layer one (L1) and layer two (L2) networks, reportedly provides secure and efficient interoperability by verifying state transitions across chains.
Flare says this allows developers to create decentralized applications (dapps) that benefit from secure cross-chain data transfer, crucial for decentralized finance (defi) applications, including trading and prediction markets. The addition of ZK Bridge to Flare comes as the network’s decentralized finance ecosystem continues to grow, with over 1 million wallets and a record total value locked (TVL).
Polyhedra’s ZK Light Client technology, integral to ZK Bridge, is said to reduce onchain verification costs by batching multiple transactions into a single proof. Flare believes this integration highlights the importance of strong bridging protocols in ensuring secure and seamless data flow across blockchain networks. Last month, Layerzero integrated with Flare, enabling connectivity to 75 distinct blockchains. Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
Featured Image Source: Pixabay
