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Lending network enables transparent credit history in Africa via blockchain partnership
Creditcoin founder Tae Oh said the partnership brings them closer to their goal of giving the unbanked a fairer shot.
African mobile banking platform Aella has partnered with Creditcoin Network to make credit histories transparent by integrating all its transactions into Creditcoin’s public blockchain.
In an announcement sent to Cointelegraph, Creditcoin said that all Aella's credit transactions will be recorded on the Creditcoin blockchain, making it easy to audit and available for viewing through their block explorer. The recorded transactions will include the terms of the loans as well as payments and repayments.
Creditcoin said that the partnership comes with the release of Creditcoin 2.0, an upgrade that makes the network more stable and easier to integrate with.
Aella CEO Akin Jones highlighted that the move allows investors to monitor the performance of its business in real-time by looking at the blockchain. This may eventually lead to more capital raises and contributes to giving more Africans access to credit. Jones explained that:
“For us, and millions of users across Africa, that means more and cheaper access to vital sources of credit.” Read More
Chia Aims to Take on Ethereum, Solana With NFTs. Will They Blossom?
Bram Cohen’s storage-based crypto network Chia just launched NFTs on its mainnet. Can a robust market sprout from the new standard?
Blockchain network Chia has launched its first NFT standard on mainnet.
Chia Network’s Gene Hoffman claims that it provides benefits over Ethereum and Solana, which have thriving NFT markets.
Ethereum currently rules the NFT market in both trading volume and high-value projects, with rising rival Solana trailing behind on both markers. But there’s an incoming entrant that aims to deliver where it claims that both competing blockchain platforms fall short: Chia.
Chia turned heads in the crypto space in the spring of last year, delivering a new kind of storage-based alternative to blockchain security and mining that it claimed made it a “green” alternative to Bitcoin and Ethereum.
Now the platform wants to bring that same ethos to NFTs.
Today, Chia announced the launch of its so-called NFT1 standard on mainnet, just weeks after rolling out the initial NFT0 standard on testnet. Speaking with Decrypt, Chia Network Director, President, and COO Gene Hoffman suggested that the new NFT-capable platform would be more eco-friendly than Ethereum and more stable than Solana, which has seen spurts of downtime since last fall. Read More
Only1 Launches First Web3.0 Social NFT Platform Built on Solana
Only1 Limited, a software development firm based in Hong Kong, has announced the launch of its web3.0 social platform dubbed ‘Only1.’
The web3.0 platform is designed with multiple features including a 360° social network with user profile, messenger, Superfan NFT, Creator Staking Pools, NFT marketplace, and NFT Launchpad, among others.
In this way, the platform is focusing on empowering creators to engage audiences and monetize their content in new ways that have never been seen before.
Merged with the existing social network capabilities with blockchain, NFTs, DeFi, C2E (Create-to-Earn), and socialFi (Social finance) features, Only1 is set to revolutionize the relationship between creators and their fans by providing rewards and benefits to both creators and their fans at the same time through tokenization of social influence.
Leon Lee, Founder & CEO at Only1, commented about the development: “We see a lot of friction in the current Web3.0 social landscape. Hence, the team has been working around the clock in modifying our Beta products to cater for the needs of a full-fledged journey for creators and users without switching apps and devices”.
Built on the Solana blockchain, Only1 offers an accessible solution for users, especially Web2.0 creators who are faced with high gas fees to monetize their content and high entry barriers to the NFT marketplaces. It is the first one-stop platform on Solana for users to enjoy SocialFi features by creating content and engaging with other users to begin earning rewards.
“By making it simple for creators to monetize content, Only1 opens up Web3.0 to new audiences and power the future of decentralized content and community ownership,” Leon further said. Read More
Wormhole Announces Plans to Support Terra 2.0
Wormhole has announced it will support Terra 2.0 by adding Terra V2 to its network. It will enable developers to send xAssets to chains supported by the network. Plus, developers could also leverage the cross-chain messaging protocol of Wormhole to create xApps.
The community of Terra 2.0 includes analytics, decentralized exchange, wallets, non-fungible tokens, and infrastructure. Wormhole’s support will extend to the Terra community throughout its ecosystem and the emerging Web3 technology.
Wormhole is an interoperability protocol that harnesses the power of a single SDK to move to xChain richer with features. It is known for providing a low lift and low code solution for all the multiple xChain use cases.
Wormhole published the update through its official blog post. It follows the blog post where Wormhole launched its first edition of a new series called Wormhole Chains. It aims to introduce new chains that become a part of the Wormhole network. Read More
Also, Updates On New Integrations And The Markethive Wallet
As the bear market continues wth its crypto-cleanse and traders bemoan the adverse price action, some industry leaders opine these conditions will eradicate bad actors and create more significant opportunities for upcoming projects and future participants. Several leading crypto analysts and engineers embrace the idea that this is the time to engage in moves leading to the loftiest gains when the bull cycle returns.
Markethive stands firm with these sentiments and continues to build its next-generation entrepreneurial platform and be ready for the market-cleansed bull run. Those on the Markethive journey may be aware that new features are being integrated into the newsfeed in preparation for the five-channel dashboard housing various feeds.
The innovative five-channel dashboard integration will consist of five newsfeeds—the general newsfeed, the blog, the video channel, curation, and surveys.
It will significantly streamline your activities and business facilitation and will include a search engine so you can build your personal algorithms. This will save time and effort by eliminating what you don’t want to see in your newsfeeds, be more intuitive, and enhance the user experience.
CEO of Markethive, Thomas Prendergast, and the team of engineers have made substantial headway with the wallet. It is all but done, and the release is imminent. It’s not a simple wallet that just transfers coins. It is a complete portfolio and accounts of all your transactions, payments, and affairs, including your ILPs. The wallet comprises fourteen major foundational processes and is your internal wallet on the Markethive database. Read More
Music Streaming Company Napster To Launch Its Own Token On Algorand
The veteran music streaming company has released a litepaper outlining the launch of its planned $NAPSTER token.
Veteran music streaming app Napster is making moves into the Web3 space, with the announcement of a planned $NAPSTER token launch on Algorand.
The company has released a litepaper outlining its plans to build out its existing music streaming ecosystem on the layer-1 blockchain, though a launch date has yet to be announced.
“Napster will unlock all the opportunities of Web3 for fans, rights holders and music makers,” the litepaper reads. It added that the Algorand blockchain is “the only carbon-negative blockchain infrastructure currently in existence.” Read More
Ethereum fork a success as Sepolia testnet gears up to trial the Merge
The difficulty bomb has been successfully delayed according to core dev Tim Beiko and Ethereum ecosystem developer Nethermind.
The difficulty bomb-delaying Gray Glacier hard fork went live on Ethereum on Thursday without a hitch, according to the network’s core devs including Ethereum Foundation’s Tim Beiko.
The Sepolia testnet is also set to run through its Merge trial over the next few days and is the second last testnet to go through the trial before the official Merge.
According to Etherscan, the Gray Glacier hard fork was initiated on block number 15050000 at roughly 6:54 am EST on Thursday. The hard fork will now delay the difficulty bomb by roughly 700,000 blocks or 100 days, giving devs until mid-October to complete the long-awaited Merge.
Ethereum Foundation community manager Tim Beiko promptly went to note on Twitter later on Thursday that at 20 blocks past the fork, all monitored notes remained in sync, stating:
“20 blocks past the fork and it's looking good: all monitored nodes except @OpenEthereumOrg, which doesn’t support the fork, are in sync. No blocks on the old chain so far!” Read More
‘Gray Glacier’ Upgrade Goes Live on Ethereum Network
Ethereum has rolled out a new scheduled major network upgrade called “Gray Glacier,” pushing the difficulty bomb back another 100 days.
It’s another day, another upgrade for Ethereum as the world’s largest smart contracts platform has just rolled out a new major update.
Called “Gray Glacier,” the upgrade occurred at block 15,050,000 on June 30 with the sole goal of introducing changes to the parameters of the network’s difficulty bomb, pushing it back by 700,000 blocks, or roughly 100 days.
The Gray Glacier upgrade is the network’s hard fork, which means it is creating new rules to improve the system and requires the node operators and miners to download the latest version of their Ethereum clients.
“If you are using an Ethereum client that is not updated to the latest version, […] your client will sync to the pre-fork blockchain once the upgrade occurs,” the Ethereum Foundation said in a blog post earlier this month.
In other words, the non-upgraded clients are stuck on an incompatible chain following the old rules, meaning that operators won’t be able to send transactions or operate on the post-upgrade Ethereum network. Read More
Integrating blockchain-based digital IDs into daily life
Blockchain tech is pushing the boundaries of ID management as governments look for scalable solutions that promote privacy, control, and decentralized data management.
While blockchain technology can and has been used as-is for maintaining immutable records over the internet, innovations spanning over the last decade resulted in the birth of sub ecosystems around the use of blockchain technology.
“The idea of blockchain-based digital IDs has been floating around for quite a while but came into the limelight with the recent NFT boom,” blockchain adviser and Bundlesbets.com CEO Brenda Gentry told Cointelegraph.
While NFTs were first marketed as a tool to represent real-world objects including intellectual and physical assets, the technology found itself well-suited for a variety of applications. Recently, government organizations have begun testing NFTs for ID-ing citizens as means to reduce operational costs.
“Wide-scale implementation of blockchain-based digital IDs — like issuance of national identity cards such as passports and driving licenses — takes time but I strongly believe that is the destination that the world should move toward,” Gentry added. In addition to helping authenticate people, blockchain technology discourages counterfeiting, tampering, or identity theft attempts. 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.
