Category: Cryptocurrency News

The summit, now in its 14 year, featured luminaries from the Web3 space, including CESS Chairman Nicholas Zaldastani, who provided a technical, operational, and business-focused deep dive into Web3. CESS, Cumulus Encrypted Storage System, is a third-generation decentralized, cloud-based data storage protocol built for Web 3.0. Despite the rapid ascent of Web3 technologies to the forefront of discussions on how the world should connect, share, and do business, many people have misconceptions about the growth trajectory of this bleeding-edge technology, the business opportunities for leveraging Web3, and the role of Web3 in the wider tech space. Within this context, IVS Crypto 2022 held a special panel on July 8, 2022, to discuss everything related to Web3. Moderated by Masa Kakiya of Consensys, the panel included industry leaders from Bware Labs, Nakji Network, and Google, and also featured Nicholas Zaldastani, the Chairman of CESS. Among the topics that were discussed were the following: What is Web3? How – and why – should businesses join the Web3 revolution? What are some of the larger opportunities within the Web3 space? The panel also talked in-depth about how to develop Web3-native apps; the benefits of decentralized, Web3-based infrastructures over Web2 systems; how businesses can transition to Web3 from Web2; and how new users can be onboarded to work within this new, groundbreaking paradigm. CESS Chairman Nicholas Zaldastani commented on the conference and said: “Web3 is about bringing together the world’s computing power, data, and networks in a highly secure distributed system. From historic mainframes to Web2.0 to the blockchain, Web3 is the most sophisticated technological endeavor ever. It will not only make our existing applications more effective and secure but will also bring about a completely new set of applications that we have never thought possible. CESS is the Web3 storage system that will ensure that this is all possible.” Part of Mr. Zaldastani’s talk centered around ensuring that products and applications meet and scale to user expectations given the explosive adoption of Web3, ensuring fast and performant bare metal configurations that contain large storage capacities, and how to succeed as a Web3-native business operating in a fast, free, and user-centric world. To many, Web3 is such a revolutionary new way of doing things that it has caught some people off guard, and they are therefore a little wary of joining the movement without first fully understanding it – even given its numerous benefits and the unique value proposition of Web3-based technologies. As a decentralized storage solution that will act as the foundation for the Web3 apps of the future, CESS is educating the tech space about its vision of Web3, decentralized storage, and future trends for the tech space to move the entire industry forward. CESS is a decentralized storage solution with a unique infrastructure that separates storage, scheduling, consensus, and the application layer. This helps optimize network performance and achieve massively scaled speeds of up to 10,000 TPS. Combined with improved efficiency, lower costs, amplified storage capabilities, unique incentive mechanisms for miners and network participants, and a successful private funding raise, CESS is suitably positioned to deliver on its USPs of high data assurance with high availability, storage space maximization, speedy data retrieval on the order of milliseconds, and smart integrations and APIs – including support for WASM and EVM compatibility – that will help roll out CESS to real-life platforms and projects. Learn more about the conference here and read more about how CESS is changing the narrative for decentralized Web3 storage here.    

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The Tesla and SpaceX CEO had flirted with the idea of adding DOGE payments to Twitter.

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The municipal government pledged to support the enterprises that are discovering the non-fungibles market.

Blockchain networks are decentralized, meaning that they can be used to make payments without centralized authorities deciding which transactions are allowed. While some argue that such systems can enable fraudulent transactions, blockchain networks use advanced mathematical technologies called consensus mechanisms to prevent this. Thus, blockchains can be used by peers to transact without fear of fraud or censorship. In turn, cryptocurrency enables individuals to easily support the causes that they believe in, even when reaching affected groups through traditional means may be difficult. While discussing this aspect of cryptocurrency, the idea that cryptocurrency is often used for nefarious purposes is often argued. However, over 99% of cryptocurrency transactions are legitimate. In fact, it is often true that cryptocurrency transactions are used for humanitarian purposes. The Giving Block, a large cryptocurrency philanthropy platform, supports over one thousand nonprofit organizations around the world and is projected to facilitate over USD 1 Billion in donations by the end of 2022. When compared to the USD 100 Million in donations that The Giving Block facilitated last year, this figure suggests that overall cryptocurrency donations are growing alongside adoption. Because cryptocurrencies are universal, that is they are not tied to individual countries, they make accepting donations from anyone in the world possible during times when global political circumstances make doing so through traditional money transfer methods incredibly difficult. As an example drawn from current events, cryptocurrency is enabling Russian citizens who condemn Vladimir Putin’s invasion of Ukraine to send aid to Ukraine’s government and its people. Since the first day of combat, the broader cryptocurrency community has stringently supported Ukraine’s independence. Within a month of Russia’s invasion, over USD 63 Billion in various cryptocurrencies had been donated to Ukraine’s official wallet addresses. Since then, donations have only increased; according to tradingplatforms.com, last month’s donations alone topped USD $100 Million. The overwhelming donations being sent by the cryptocurrency community are being used by Ukraine to bolster its defenses and rebuild. Following their users, countless cryptocurrency projects have jumped on-board in support of Ukraine. Projects of all genres and sizes are participating. For example, projects within the Konstellation ecosystem dedicated efforts to raising charitable donations to Ukraine, one of which is Squid Squad OG, the world’s first Rock, Paper, Scissors blockchain-based play-to-earn game. Once the fundraiser concluded, Konstellation Network, a blockchain protocol, matched the donation. Through fundraisers held by its various products, the Konstellation Network donated a total of over $14,000 USD to Ukraine. Though the fundraising round has ended, SSOG NFTs can still be bought. In addition to representing the good that cryptocurrency can do, they act as whitelist passes for the second mint of Squid Squad OG’s popular play-to-earn game, SSOG – a unique title inspired by the hit Netflix special Squid Games. In SSOG, contestants compete for a massive prize pool through high stakes, high rewards games of Rock Paper Scissors. Losers are eliminated, and winners get closer and closer to hitting the jackpot. The final victor wins it all, but only if contestants don’t vote to stop the games early and split the prize pool between themselves. About Konstellation Konstellation is a decentralized cross-chain capital markets protocol built on the Cosmos network. The project is aimed to efficiently connect funds and the various components of the asset management industries with investors. Konstellation’s mission is to become the financial services industry hub for Cosmos and other blockchain ecosystems using strategic inter-operable blockchain communications. The Konstellation network is powered by DARC tokens, which are required for the Konstellation network’s governance and transactions. Powered by features such as cross-chain infrastructure, a simplified interface, high composability, and effortless cross-chain DeFi usability, Konstellation is making headway in achieving its vision.  

A Russian university is ready to test its blockchain-based analogue to the global payment messaging network SWIFT, from which Russian banks were cut off as part of Western sanctions. The developers say their system would not allow the disconnecting of countries and banks. Russian Developers Create SWIFT Substitute Using Blockchain Experts from the Competence Center […]

After reading yet another post about "Celsius repayed x amount of loan" and seeing all the posts filled with unsubstantial hopium, I felt the need to clear some misconceptions around this topic: How are platforms like celsius working They are a simple CeFi platform. They are borrowing crypto from their customers and lending it out…
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Ivan Soto-Wright, the co-founder and CEO of MoonPay said the partnership enhances the tail-end of a user’s journey by replacing complex characters with NFT domains.

As crypto matures and continues along its path of inevitable adoption, so too does the importance placed on adequately accounting for crypto as an asset class and a source of income. Cryptocurrencies at their core were not designed to fit into traditional financial systems, after all, that’s where some of their primary benefits over fiat […]