Autor Cointelegraph By Ezra Reguerra

Anchorage forms custody network with five crypto exchanges

Anchorage forms custody network with five crypto exchanges

Uverejnil používateľ | jún 10, 2022 |

Crypto custody firm Anchorage Digital has recently formed an exchange custody network with five digital asset trading platforms to segregate institutional client funds from exchanges into regulated asset vaults. In an announcement, the custodian mentioned that it has partnered with Binance.US, CoinList, Blockchain.com, Strix Leviathan and Wintermute. According to Anchorage, this will provide institutions with direct access to a wide range of trading pairs. The custody firm also noted that the formation of the custody network allows institutions like Registered Investment Advisors to meet their obligations to their clients in a safe environment by holding assets through a custodian, all throughout the life-cycle of a trade. Additionally, this gives clients some sort of peace of mind, knowing that their assets are not stored in hot wallets, which are prone to hacks. Diogo Mónica, the co-founder and president of Anchorage, said that this allows the industry to move beyond “hodl.” He tweeted:Announcing @Anchorage’s new custody exchange network.As the crypto ecosystem has evolved beyond “hodl”–opening new doors of opportunity for investors–institutions deserve to participate as safely and seamlessly as possible.— Diogo Mónica (@diogomonica) June 9, 2022Anchorage Digital CEO Nathan McCauley underscored that exchanges and custodians should be different, just as it is for more conventional finance structures. He noted that if the crypto space wants to gain more trust from institutional clients, the industry must “follow the same playbook” as traditional finance. Related: Anchorage granted US’s first national crypto bank charterThe formation of the exchange custody network came months after the United States Office of the Comptroller of the Currency (OCC) announced that it intends to pursue cease and desist proceedings against Anchorage for possible violations of anti-money laundering regulations. Back then, the custody firm told Cointelegraph that they are working to reinforce the areas that were identified by the OCC. Meanwhile, back in December 2021, Anchorage secured $350 million in a funding round led by investment bigwig KKR. With this event, the firm’s valuation rose to more than $3 billion. This also marked the first time that the KKR has tried its hands at investing in the cryptocurrency space.

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Chainlink brings Keepers and VRF to the Avalanche blockchain

Chainlink brings Keepers and VRF to the Avalanche blockchain

Uverejnil používateľ | jún 9, 2022 |

Blockchain oracle platform Chainlink (LINK) launched two of its services, Chainlink Keepers and Chainlink Verifiable Random Function (VRF) and integrated them into the Avalanche Primary Network, a special subnet within the Avalanche (AVAX) platform.In the announcement sent to Cointelegraph on Thursday, the Chainlink team highlighted that the integration with Avalanche is done to support developers within the platform. Chainlink Keepers will enable developers to automate smart contract functions in a decentralized manner. On the other hand, Chainlink VRF will provide a random number generator (RNG) that can be used in many decentralized applications (DApps) that require randomness. Emin Gün Sirer, the founder and CEO of Ava Labs, expressed his belief that integration is a big milestone for those who are building in Avalanche. According to Sirer, this will “simplify both the developer and user experiences.” Apart from this, the Avalanche executive noted that this will also improve functionalities and designs within DApps. He stated that: “The Avalanche Community is full of tireless builders, and their ability to rapidly build and ship applications at scale just became even easier.”Chainlink Co-Founder Sergey Nazarov also expressed his sentiments over the new development. He explained that the integration will allow developers to make smart contract apps with end-to-end automation and apply a verified RNG to any application within the platform. Related: DeFi protocols declare losses as attackers exploit LUNA price feed discrepancyBack in February, Chainlink launched the second version of its VRF function. With the function, the Chainlink platform provides random numbers and presents cryptographic proof that the number was determined by combining block data and an oracle’s private key. Earlier in June, Chainlink also launched its price feeds feature on the Solana (SOL) blockchain. This function enables developers within the Solana platform to use the BTC/USD, ETH/USD and USDC/USD price feeds within their applications.

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Crypto exchange Binance seeks critical licenses in Philippines, CEO says

Crypto exchange Binance seeks critical licenses in Philippines, CEO says

Uverejnil používateľ | jún 9, 2022 |

Changpeng Zhao, the CEO of crypto trading platform Binance, shared plans to acquire two licenses that are critical for the firm’s operations within the Philippines.In a press briefing in Manila, the Binance CEO mentioned that the exchange is looking to obtain the virtual assets service provider license, which allows the platform to legally facilitate the exchange of digital assets and the conversion of crypto to the Philippine peso. Apart from the VASP, Zhao also noted that the trading platform is working to acquire an e-money issuer license from Banko Sentral ng Pilipinas, the country’s central bank. This license will allow Binance to issue electronic money. The Binance CEO also talked about plans to expand the country’s operations within the country. According to Zhao, the firm is looking into forming partnerships and investing in banks that operate in the Philippines. He said: “We are interested in investing in traditional financial service centers including payment service providers, banks […] we want to help bring those businesses into the blockchain world.”Zhao highlighted that the exchange’s decision to broaden its presence within the country is due to the local developments in terms of payment services and the country’s advanced “understanding of crypto.” Related: BNB price risks 40% drop as SEC launches probe against BinanceZhao also noted his frustrations with Reuters’ recent report on the exchange. He said that the media outlet “just reported rumors and they didn’t provide any supporting evidence.” He also urged the audience to not believe the rumors and assured them that the firm is not involved in illicit activities. Two days ago, the exchange published a blog post to address the allegations made by Reuters. Within the post, the exchange fired back at the news platform, saying that the article was created to spread disinformation.

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No more power surge: Community celebrates as Ropsten testnet merge goes live

No more power surge: Community celebrates as Ropsten testnet merge goes live

Uverejnil používateľ | jún 9, 2022 |

The Ethereum blockchain recently completed a step toward the long-awaited upgrade that will improve the platform by switching to a proof-of-stake (PoS) consensus. The Ropsten testnet successfully transitioned to PoS in what is dubbed a “dress rehearsal” for the Ethereum blockchain. Since the network uses the proof-of-work (PoW) mining model which consumes a lot of electricity, the Ethereum platform is often criticized along with Bitcoin (BTC) over its environmental impact. With the shift to PoS, the energy issues will be addressed and the platform will become more scalable, being able to process more transactions per second. After Ropsten’s transition, testnets Goerli and Sepolia are scheduled to transition to PoS prior to the mainnet transition according to the Ethereum Foundation. Testnets Rinkeby and Kovan can be maintained by the community,  but they will not be monitored by the client developers anymore. Community members rejoiced at the milestone. Musician Jonathan Mann celebrated the merge by rocking out a Ropsten-merge-themed song, singing lyrics like “no more power surge” and “ETH to the moon.” It’s the first Ropsten Testnet Merge song! 100% improvised.The *second* improvised Ropsten Testnet Merge song will be dropping tomorrow. It’s 17 minutes long. bid on the NFT!https://t.co/qAnorDZ8Iy pic.twitter.com/NH7DOkGHBM— Jonathan Mann (@songadaymann) June 8, 2022Roberto Nickson, founder of Metav3rse, described the event as a “huge milestone” and a “historic” event. He believes that this is one of the most important events in the history of crypto as the mainnet integration to PoS depends on the testnet’s success as well. Parithosh Jayanthi, an Ethereum developer congratulated the people that worked on the merge. While Jayanthi mentioned that there were still some bugs, he noted that fixes are on the way and that the team will monitor the chain over the coming weeks.Related: DeFi contagion? Analysts warn of ‘Staked Ether’ de-pegging from Ethereum by 50%The development for Ethereum’s efforts to transition to PoS came just in time as New York started to clamp down on PoW mining. Last week, the New York State Senate passed a bill that aims to implement a mining ban for PoW systems. While some may expect the Ether (ETH) price to go bullish after the merge, the news did not have large impact on the digital asset’s price. Despite the successful testnet integration, traders still adjusted their ETH price targets to $1,400 per ETH.

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Metaverse sneak peek: Project aims to build a creator-focused economy through blockchain

Metaverse sneak peek: Project aims to build a creator-focused economy through blockchain

Uverejnil používateľ | jún 8, 2022 |

A metaverse project that would provide a digital hub for creators gave the community an opportunity to travel within its metaverse city and explore an early version of the vision that it aims to achieve.Last week, Web3 creator economy protocol DEIP launched an event within its metaverse. With DEIP CEO and co-founder Alex Shkor acting as a virtual tour guide welcoming participants with a speech, Cointelegraph explored the city while listening to the guide. Exploring the DEIP metaverse city.In an interview with Cointelegraph, Shkor explained that the space was created with the goal of empowering creators and connecting them with each other. Shkor said: “We were keen to create the space where creators could meet each other, collaborate and learn more about the latest technological developments enabling the transition towards the decentralized creator economy.”The platform hopes to give creators a platform to discover, evaluate, license and exchange “intangible assets” such as artworks. It also aims to transfer data storage from centralized publishers into a decentralized platform, giving creators more control with regards to their work. Apart from this, DEIP also seeks to give creators better monetization opportunities.According to the Shkor, the space was created by the Arhead Metaverse ecosystem, Balagan creative agency and Atrium architectural studio. The team also partnered with Near Protocol and the Octopus network to help further its ecosystem. During the event, one of the most noticeable attractions was a blue balloon dog. Shkor mentioned that this is Jeff Koons’ Balloon Dog (Blue), which is a physical sculpture that was converted into digital art to be showcased at the event. Jeff Koon’s Balloon Dog (Blue) showcased at the DEIP metaverse. While running an event within a metaverse is an interesting step forward, the event also showed signs that metaverses are still in their early stages. Moving through the digital location, Cointelegraph met some minor difficulties such as getting disconnected and audio being cut off. Related: Pride in the Metaverse: Blockchain tech creates new opportunities for LGBTQ+ peopleMeanwhile, metaverse tokens are performing well despite the bear market. According to a report by Kraken Intelligence, metaverse-related digital assets have outperformed other token categories by around 400% year-on-year.

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