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Much-Awaited Comdex Mainnet Launch and Deployment is Finally Here
Comdex began developing its business trading platform in 2018 to promote efficiency and trust in commodities trade and trade financing for SMEs and MSME merchants.
Comdex’s objective is to develop financial markets and provide investors more access to various asset classes while providing a safer investment option. Their Mainnet launch is critical to constructing a DeFi-CeFi capital flow gateway.
After bringing in almost 50 validators on their testnet, Comdex, a decentralized synthetics protocol aiming to bring efficiency, transparency, and confidence to the $17 trillion commodities trading and trade finance sectors, is now deploying its mainnet. Read More
Cardano-based ADALend Builds a Scalable and Decentralized Lending Protocol
ADALend ignites the decentralized finance (DeFi) space with a scalable and decentralized lending protocol on Cardano — a public blockchain platform with various capabilities.
The statement comes after ADALend announced early this month that it is creating a DeFi project and is planning to begin developing cross-platform integrations.
Recently, ADALend protocol announced that it will power a new generation of flexible financial services for digital asset markets. This will offer a foundation for fast loan approval, trustless custody, automated collateralization, and liquidity in the DeFi space.
According to the ADALend team, they chose Cardano as the primary blockchain to power the DeFi system because of the cost-effectiveness of the platform to send, receive, and initiate contracts. This is because the Cardano fees remain low compared to other cryptocurrencies due to the dual-layer design of the network, which separates calculations from contracts. Read More
Payments Giant Stripe Open to Launching Crypto Support, Highlights Potential of Solana and Lightning Network
The president of payments giant Stripe says the firm is open to the possibility of integrating crypto into its platform.
Three years after abandoning support for Bitcoin (BTC) due to volatility concerns, Stripe co-founder and president John Collison tells CNBC in a new interview that the industry titan is reconsidering its stance on crypto.
“One thing that’s interesting to us is that there have been a lot of developments of late with an eye to making cryptocurrencies better, and in particular scalable, and acceptable cost as a payment method.
And so you have the layer 2 chains like Lightning, you have efforts like Solana, which is a dedicated chain towards payments, I think all that work is really interesting because we are interested in bringing more people into the global economy at Stripe.” Read More
Ripple CEO Brad Garlinghouse Says Payments Firm Making Good Progress in SEC Lawsuit, Gives Timeline for Resolution: Report
Ripple chief executive Brad Garlinghouse thinks “good progress” has been made in the payment company’s legal battle with the U.S. Securities and Exchange Commission (SEC).
In a new interview with CNBC, Garlinghouse also issues a loose prediction on the case’s timeline.
“We’re seeing pretty good progress despite a slow-moving judicial process in the federal courts. Clearly, we’re seeing good questions asked by the judge, and I think the judge realizes this is not just about Ripple, this will have broader implications, and I think that’s a very good thing. I’m hopeful that certainly in 2022 there’ll be closure here.”
The SEC filed charges against Ripple last December alleging that the San Francisco-based company sold XRP as an unregistered security during its launch. The regulator alleges that XRP remains a security to this day. Read More
Elrond has combined the scarcity of Bitcoin, the programmability of Ethereum, and the speed of next-generation cryptos, like Solana, to create a cryptocurrency network unlike any other. Elrond is a platform built for internet-scale and capable of processing thousands of transactions per second at $0.001 per transaction, and able to scale to hundreds of thousands with demand.
Elrond’s distinction is being a project with a soul. One that has united forces of an incredibly vibrant community of 190,000 people, spanning 18 languages and in almost 30 countries. Elrond aims to create the backbone for high bandwidth, transparent financial system, and extending universal access to anyone, anywhere.
Elrond’s egold (EGLD) native token has exploded in value over the last year and seems to be poised for more gains. The Blockchain project has been considered under the radar and received very little crypto media exposure until now. Read More
How Blockchain Technology Will Reimagine Virtual Events
In the past couple of years since the COVID-19 pandemic began, and perhaps even a couple more before it exploded into a worldwide tragedy, the worldwide shift to digital has been slowly but steadily gaining ground.
Around the world, firms have been investing into digital transformation: from internal processes to consumer-facing services and products. With the advent of what has been dubbed as Industry 4.0, or the Fourth Industrial Revolution, automation and digitalization have come to the forefront of everyone's attention. From government services to consumer goods, from financial services to social media, and even from education to work. All these sectors and spaces in social life have increasingly required digital transformation, and these needs have become magnified because of circumstances brought about by the global pandemic. Read More
Report claims each Solana TX uses less energy than 2 Google searches
The report also found that a transaction on the Solana blockchain uses 24 times less energy than charging your phone.
A transaction on the Solana network takes less energy than two Google searches and 24 times less energy than charging your phone, according to a Thursday report by the Solana Foundation.
The report states that a single transaction on its network uses 0.00051 kilowatt-hour (kWh), or 1,836 Joules, of energy. According to Google, an average search uses 0.0003 kWh or 1,080 Joules of energy.
Perhaps more surprisingly, the report claims the entire Solana network uses an estimated 3,186,000 kWh per year, which is equivalent to the average electricity usage of 986 American households. Read More
UK Law Commission affirms English and Welsh laws apply to smart contracts
“The Law Commission’s analysis demonstrates the flexibility of the common law to accommodate technological developments, particularly in the context of smart legal contracts,” said the announcement.
The U.K. Law Commission, tasked with monitoring the laws in the United Kingdom and recommending reforms, has said England and Wales do not need statutory law reform for smart legal contracts in the digital asset space.
In a Thursday announcement, the commission said smart contracts built using distributed ledger technology are permissible within England’s and Wales’ current legal framework. The Law Commission recommended only “an incremental development of the common law” as needed for existing frameworks, but also encouraged any parties to smart contracts to explain risks relating to “the performance of the code” and any other necessary terms. Read More
OpenSea Partners With Christie's Auction House To Host New NFT Collection
The Christie's X OpenSea collection is open for viewing from 1 December. Artworks handpicked by a Christie's specialist will feature artists such as Andre O'Shea, Recur, Oseanworld, GMUNK, Ash Thorp, and others.
NFTs continue to excite much interest and enthusiasm as can be noted with OpenSea’s reported $3.4 billion sales in this category. Purchased with fiat or cryptocurrencies, these digital collectibles are drawing a lot of value into the space.
Noah Davis is the head of digital and online sales at Christie's, as well as being a specialist in the NFT field in his own right. He commented on the upcoming collaboration:
“My hope is that this will be the beginning of a new era for NFT sales at Christie's, where amazing technology can be deployed to its full potential and facilitate the on-boarding of even more traditional contemporary art collectors to Web3,” 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.
