• IOTA, a cryptocurrency start-up leveraging blockchain technology and IoT (Internet of Things), has been chosen to take part in the next stage of testing and development for an initiative that aims to enhance pan-European blockchain services through a distributed ledger system.
• The project, known as European Blockchain Pre-Commercial Procurement (PCP), seeks to investigate the feasibility of utilizing blockchain technology to both improve current applications and develop new ones for the European Blockchain Services Infrastructure (EBSI).
• The goals of the EBSI include promoting cross-border mobility, reducing waste, ensuring compliance with E.U. regulations, fostering the growth of technology hubs and projects, and making digital services more reliable and trustworthy.
The European Union recently selected IOTA, a cryptocurrency start-up leveraging blockchain technology and IoT (Internet of Things), to take part in the next stage of testing and development for an initiative that aims to enhance pan-European blockchain services through a distributed ledger system. This project, known as European Blockchain Pre-Commercial Procurement (PCP), seeks to investigate the feasibility of utilizing blockchain technology to both improve current applications and develop new ones for the European Blockchain Services Infrastructure (EBSI).
The goals of the EBSI are ambitious, seeking to promote cross-border mobility, reduce waste, ensure compliance with E.U. regulations, foster the growth of technology hubs and projects, and make digital services more reliable and trustworthy. The selection of IOTA to take part in the PCP is a testament to the company’s commitment to these goals and its ability to implement distributed ledger technology in the European market. As Dominik Schiener, co-founder and chairman of the IOTA Foundation, puts it: “The IOTA technology already shares the same core values with EBSI, so we have felt it has been a very natural fit throughout this testing process. We are very confident in our ability to bring distributed ledger technology to the European market and look forward to the next phase.”
The European Union is clearly investing heavily in the potential of blockchain technology and IOTA is proud to be a part of this important endeavor. With the selection of IOTA, the European Union is taking a major step towards the development of a more efficient and secure digital infrastructure that can benefit all citizens of Europe.
– Australia’s Financial Services Minister Stephen Jones believes that certain crypto assets should be regulated as financial products to protect consumers from future collapses.
– The government is set to conduct a token mapping exercise to enable it to formulate a proper digital assets regulatory framework.
– Jones believes that there is no point in creating a separate regulatory regime for something that is, for all intents and purposes, a financial product.
The Australian government is taking steps to better regulate the crypto industry, in response to the high-profile bankruptcies that have occurred since 2022. Financial Services Minister Stephen Jones believes that certain crypto assets should be regulated as financial products in order to protect consumers from future collapses.
The government is set to conduct a token mapping exercise later this year, which will enable it to create a proper digital assets regulatory framework. According to Jones, treating crypto assets like financial products is the right step to take. In an interview with a local news source, The Sydney Morning Herald, he said that there is no need to create “a completely separate regulatory regime for something that is, for all intents and purposes, a financial product.” Jones believes that if something looks like, walks like, and sounds like a duck, then it should be treated like one.
The issue of crypto regulation has been attracting mixed reactions from various quarters. Some argue that the current regulations are sufficient and that no new ones need to be created, while others believe that a more stringent system needs to be put in place. Jones has been advocating for the latter, and has stated that it is important for authorities to pay special attention to unregulated digital assets that function as financial products.
The token mapping exercise will provide the government with important information about the different types of crypto assets in circulation and the associated risks. With this information, the government will be able to better understand the industry and make informed decisions about how to regulate it.
It remains to be seen how the government will move forward with its plans to regulate the crypto industry, but it is clear that Jones is in favor of treating certain digital assets as financial products. This would provide much-needed protection to consumers, as well as ensuring that the right regulatory measures are in place.
• Ethereum stakers are rewarded with an APR of 7.5%.
• The APR is mainly derived from network issuance, tips, and MEV estimates.
• Over $25.2 billion of ETH is currently locked on the Beacon Chain.
On January 16th, 2021, data on Ethereum showed that those staking their coins are earning an annual return of 7.5%. This return is broken down into 4.2% from network issuance, 2.3% from tips and 1% from the Maximal Extractable Value (MEV) estimate. This means that for every 32 ETH deposited, stakers will receive 2.5 ETH.
The Ethereum network is designed to be decentralized and secure, and staking is a key part of this. By locking coins, users can help to ensure the network remains secure and stable. This is in contrast to the traditional mining process, which requires expensive hardware and a large amount of energy. On the Ethereum network, all that is required is the 32 ETH deposit.
As a result of this, the number of ETH stakers is currently on the rise. At the time of writing, over $25.2 billion of ETH is locked on the Beacon Chain. This is a significant amount, and it is likely to continue to increase in the future.
Ethereum allows staking from as early as December 2022, and the rewards for doing so are attractive. By staking coins, users can receive a return of 7.5% APR, which can be a great way to earn passive income. Furthermore, it is also beneficial for the network, as it increases decentralization and security. It is clear that staking is likely to become more popular in the future.
• Radix DLT has released concept images of its web3 wallet to enhance user experience in DeFi.
• The wallet will offer better levels of security than traditional finance due to the integration of web3.
• Last year, billions of user funds were stolen from DeFi dApps, resulting in reputation damage.
Radix DLT, a DeFi-centric smart contracting platform for developers to build and deploy dApps faster in a scalable environment, has taken a crucial step in its mission to enhance user experience in the DeFi space. The team has released the concept images of its web3 wallet in order to roll out a secure yet easy-to-use wallet that drastically improves user experience.
The announcement from Radix represents more than five years of actively researching, designing, and developing five core technologies forming part of Radix. This year, the team plans to release the Babylon Mainnet showcasing the five technologies primarily infused into the Radix wallet. Once live, the wallet will make interaction with crypto dApps fluid for everyone and be ecosystem-ready for projects keen on leveraging the Radix DLT base layer.
Matthew Hine, the Chief Product Officer of Radix, said the wallet ushers in an era for people to “engage effortlessly”, making the various blockchain innovations relevant to people. He stated: “Radix Wallet provides a user experience that gets out of the way and lets users engage effortlessly. It’s the kind of user experience that will make Web3, DeFi, and even the Metaverse actually relevant to people. You can’t build it on any network except Radix.”
Radix is focusing heavily on security when it comes to the wallet. This is due to the mess that was created in DeFi last year, resulting in the theft of user funds and reputation damage. Billions of user funds were lost due to the various dApps, which has made security a priority for the team. The integration of web3 into the wallet will provide higher levels of security than those in traditional finance.
Radix is confident that the wallet will be a game-changer in the DeFi space and will drastically improve user experience. The team is hopeful that the wallet will be successful in its mission of making blockchain and DeFi more accessible to the masses.
• Magic Eden, an NFT exchange, experienced an influx of inappropriate images due to a third-party image hosting service being compromised.
• The company assured customers that their NFTs were safe, and instructed them to do a hard refresh on their browsers to fix the issue.
• Magic Eden is the third biggest NFT marketplace globally, and the largest Solana-based NFT marketplace.
Magic Eden, one of the leading NFT exchanges, recently experienced an influx of inappropriate images due to a third-party image hosting service being compromised. This prompted the company to quickly respond and assure customers that their NFTs were safe, and instructed them to do a hard refresh on their browsers to fix the issue.
Magic Eden is one of the largest NFT exchanges in the world and currently has a 30-day transaction volume of $74.65 million. It ranks third globally behind OpenSea and Blur, and is the largest Solana-based NFT marketplace. Despite its success, this recent incident has raised questions about the company’s vulnerability to such malfunctions, as well as the offensive nature of some of the images.
The images appeared on the website after a third-party image hosting service used by the company had been compromised. When customers clicked on a collection’s page, they were met with a pornographic image rather than the typical NFT thumbnail. Other images included a still from The Big Bang Theory. As soon as the issue was discovered, Magic Eden quickly took to Twitter to assure customers that their NFTs were safe, and instructed them to do a hard refresh on their browsers to fix the issue.
This incident could potentially be damaging to Magic Eden’s reputation and trustworthiness. The company has already taken steps to assure customers that their NFTs and other data are safe, however it remains to be seen how it will affect the company’s standing in the long term. For now, it is important for customers to be aware of this incident and take steps to protect their data as best as possible.
– Crypto firm Wyre is shutting down operations in the first quarter of 2023.
– This follows a broad market slump and crumpling of cryptocurrencies in 2022, leading to layoffs at the end of the last year.
– Wyre’s CEO Ioannis Giannaros has confirmed they are still operating but will be scaling back to plan their next steps.
Crypto firm Wyre is making the decision to shut down its operations in the first quarter of 2023. The company, which has operated since 2013 and was focused on blockchain-based payments transfer, had been struggling in the last year due to the broad market slump and crumpling of cryptocurrencies. This had unfortunate consequences for the company, leading to layoffs at the end of the last year.
Wyre’s CEO Ioannis Giannaros has confirmed the news, saying that the company is still operating but will be scaling back to plan their next steps. He communicated this news to the company’s employees during the holiday season, with the plans for a liquidation and dissolution of operations in January 2023. The situation has been further confirmed by former personnel of Wyre, who spoke to Axios about the closure. One of them said that the company had yet to offer them severance packages after their layoffs.
To further raise awareness of the situation, technical engineer Michael Staib who had also been laid off, took to LinkedIn to decry Wyre’s business practices. He argued that the company had not been transparent with its employees, and that the company had put in place a policy of not offering severance packages to employees it laid off even though they had been working with the company for years.
The news of Wyre’s closure has come as a shock to the industry, as the company had been seen as a leader in the blockchain-based payments transfer space. The company had been working on a new payments product, but it is uncertain whether that will be able to launch now that the company is winding down. It is also uncertain what will happen to the company’s assets, and whether the company will be able to provide its employees with severance packages.