Blockchain Press Releases
White Box Switches Market Size to Grow USD 5,743.8 Million by 2029 at a CAGR of 14.06% | Valuates Reports
BANGALORE, India, Aug. 8, 2023 /PRNewswire/ — The White Box Switches Market is Segmented by Type (Fixed Managed, Fixed Unmanaged), by Application (Cloud Data Center, 5G Telco Cloud): Global Opportunity Analysis and Industry Forecast, 2022-2029.
The global White Box Switches market was valued at USD 2,243 Million in 2022 and is anticipated to reach USD 5,743.8 Million by 2029, witnessing a CAGR of 14.06% during the forecast period 2023-2029.
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Major Factors Driving the Growth of White Box Switches Market:
Enterprise networks are finding the white box networking trend to be just as advantageous as virtual servers were when they initially appeared. It offers significantly reduced costs, simplified deployment, and management, as well as greatly streamlined network deployment, operations, and support. It also offers improved flexibility in terms of optimized hardware and software. This element is anticipated to fuel the market for white box switches.
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TRENDS INFLUENCING THE GROWTH OF WHITE BOX SWITCHES MARKET
The affordability and flexibility that White Box Switches provide are two major factors in the market’s expansion. White Box Switches are frequently less expensive than proprietary switches from established manufacturers because they use generic hardware components and open-source software. Organizations with limited resources and those looking to maximize their IT spending will benefit from this cost advantage. Additionally, White Box Switches may be customized and configured to meet particular demands, offering unrivaled flexibility that enables enterprises to adjust to changing networking requirements.
Another important factor propelling the market for White Box Switches is the rising popularity of Software-Defined Networking (SDN). SDN divides the control plane from the data plane of the network, enabling administrators to operate the whole network from a single location using the software. White Box Switches are the best options for SDN implementations because of their open-source design, which is in line with SDN principles. Organizations embrace SDN in response to the need for networks that are more programmable and flexible, which accelerates the expansion of the White Box Switches market.
Data centers are expanding at a rate never before seen due to the ubiquity of big data, cloud computing, and internet-connected gadgets. High-performance, scalable, and economical networking solutions are needed for data centers. With their programmable hardware and software, White Box Switches are the ideal solution. They are a favored option for data center infrastructure because they provide the flexibility and scalability required to fulfill the demands of contemporary data centers. The technique known as “Network Functions Virtualization ” (NFV) virtualized network services and functions so they can run on common hardware. Network operators can replace outdated proprietary hardware with software-based solutions thanks to NFV, which boosts productivity and lowers costs. White Box Switches are suitable for NFV implementations because they are generic hardware platforms, allowing businesses to take advantage of virtualized networking.
The growth of open networking efforts and groups advocating open standards has been a major factor in the market growth of white box switches. These programs, including Open Networking Foundation (ONF) and Open Compute Project (OCP), encourage industry participants to collaborate together and advance the development of open-source networking solutions. White Box Switches, which support open standards and promote innovation through community-driven development, is a perfect fit for this ecosystem.
As a method of separating the hardware and software components of networking devices, disaggregated networking is gaining popularity. By using this strategy, organizations can choose best-of-breed solutions and prevent vendor lock-in. White Box Switches are a natural fit for the disaggregated networking architecture because they provide customers the freedom to select their own hardware and software, promoting competition and giving them additional options.
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WHITE BOX SWITCHES MARKET SHARE ANALYSIS
Over the course of the projected period, the North American market is anticipated to expand significantly. Due to the widespread use of cutting-edge technology and the presence of major competitors in this area, the market is projected to have plenty of room for expansion.
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Key Companies:
- Cisco
- Dell
- Arista
- Juniper Networks
- Pica8
- Agema Systems
- Foxconn Technology
- Edgecore Networks
- Celestica
- H3C
- Ruijie
- Huawei
- Asterfusion
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– Network Security Firewall market size is projected to reach USD 5513.2 million by 2027, from USD 3263.1 million in 2020, at a CAGR of 7.3% during 2021-2027.
– The hyper-converged infrastructure market size was valued at USD 3.84 Billion in 2018, and is projected to reach USD 33.16 Billion by 2026, growing at a CAGR of 30.7% from 2019 to 2026.
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ChainSwap, the pioneering multi-chain decentralized exchange (DEX), has unveiled a groundbreaking feature that sets a new standard for decentralized finance (DeFi). Today, ChainSwap proudly announces the launch of its intra-chain swap capability, a monumental advancement in enabling seamless transactions across six major blockchain networks.
As the first of its kind, ChainSwap empowers users with the ability to seamlessly swap assets within the same blockchain, enhancing user retention and eliminating the need for multiple wallets across various chains. This revolutionary development revolutionizes the DeFi
landscape, offering users unparalleled freedom to traverse across different chains within a single platform.
ChainSwap stands as the epitome of decentralization, providing a one-stop-shop solution for multi-chain swaps. Powered by cutting-edge Cross-Chain Interoperability Protocol (CCIP) technology, ChainSwap ensures smooth and secure transactions across all compatible
blockchains, including Optimism, Ethereum, Arbitrum, Avalanche, Polygon, and Base.
With the launch of ChainSwap’s intra-chain swap functionality, users can now effortlessly exchange assets within their preferred blockchain, heralding a new era in digital asset transactions. This monumental achievement marks a significant milestone in the evolution of decentralized finance, propelling ChainSwap to the forefront of the industry.
The post ChainSwap Revolutionizes Multi-Chain DeFi with Intra-Chain Swaps appeared first on HIPTHER Alerts.
Blockchain Press Releases
Tiger Brokers (HK) officially launches virtual asset trading services, leading the way in Hong Kong’s online brokerage industry
Effortlessly manage traditional securities and virtual assets with one app Tiger Trade: tailored to meet diverse investment needs
- Professional investors can now trade 18 virtual assets, including Bitcoin and Ethereum, through the Tiger Trade app.
- The one-stop platform enables seamless management of traditional securities and virtual assets, fostering more flexible and diversified asset allocation strategies.
HONG KONG, May 6, 2024 /PRNewswire/ — Tiger Brokers (HK) (“Tiger Brokers (HK)” or “Tiger Brokers”) announced the launch of its virtual asset trading services, becoming one of the first online fintech brokers in Hong Kong to offer a single platform that allows trading and managing both traditional securities and virtual assets. Professional investors in Hong Kong can now use Tiger Trade, Tiger Brokers’ flagship investment app, to trade 18 virtual assets including Bitcoin (BTC) and Ethereum (ETH), alongside stocks, options, futures, US Treasury bonds, funds, and other global assets, all at an affordable cost. This eliminates the need for multiple accounts across different brokers and platforms, making global asset allocation simpler and more convenient.
John Fei Zeng, Chief Financial Officer and Director of Tiger Brokers stated: “We are honored to be among the first fintech brokerage firms in Hong Kong to introduce virtual asset trading, leading the way in meeting investors’ evolving needs. As investors’ asset allocation requirements become increasingly diverse, our expanded product portfolio will help them seize various market opportunities. Our unified trading platform allows investors to trade and manage different types of investments seamlessly, enhancing user experience and boosting investment efficiency.”
He added: “With Hong Kong’s efforts to develop into a Web3.0 hub, we are confident in its vision. Hong Kong is one of the pioneering international financial centers introducing comprehensive regulations for virtual asset and fostering a trading-friendly environment. We aspire to bolster Hong Kong’s competitiveness in the global financial landscape through our contributions.”
Secure, convenient, and affordable virtual asset trading experience
Having previously secured an upgrade to its Type 1 license conditions from the Securities and Futures Commission of Hong Kong (“SFC”), Tiger Brokers is aiming to offer professional investors secure virtual asset trading services, strictly adhering to legal and regulatory requirements.
Tiger Brokers continues to offer competitive trading rates, with virtual asset trading fees at only 0.2% of the transaction value, and custody fees waived. Unlike stock trading, virtual assets are settled instantly and can be traded 24/7. All registered users in Hong Kong can view real-time quotes, as well as top gainers and losers of virtual assets, via the user-friendly Tiger Trade interface, keeping abreast of market conditions anytime, anywhere. Furthermore, the Tiger Trade App enables instant T+0 exchange between Hong Kong dollars and US dollars.
Currently, Tiger Brokers’ virtual asset trading services are available only to professional investors. Eligible clients, including Hong Kong residents with over HKD 8 million in investment portfolio or corporate entities with assets exceeding HKD 40 million, can submit professional investor application on Tiger Trade. Customers also have the option to schedule an in-person visit to the Tiger Brokers office, where professional representatives will assist customers in completing the account opening and certification process. Looking ahead, Tiger Brokers plans to extend its virtual asset trading services to retail investors, subject to regulatory approval. Additionally, the company is considering the introduction of virtual asset spot withdrawal and deposit services.
Beyond virtual asset spot trading, Tiger Brokers also offers trading of U.S.-listed bitcoin spot ETFs and Hong Kong-listed spot bitcoin and ether ETFs to Hong Kong investors. Since entering the Hong Kong market just over a year ago, Tiger Brokers has won widespread acclaim from local users through the introduction of numerous innovative products and services. Recently, the SFC granted Tiger Brokers a Type 9 license for asset management services. With this, Tiger Brokers can offer a suite of asset management services, such as dedicated account services for both retail and professional investors, and collective investment scheme management for professional investors, thereby providing comprehensive support for the diverse investment needs of both retail and professional investors.
About Tiger Brokers (HK)
Tiger Brokers (HK) Global Limited (Central number: BMU940) holds type 1, 2, 4, 5 and 9 licenses of the SFC. Starting from 30th November 2022, with Tiger Trade, Tiger Brokers’ flagship app, Hong Kong users can trade financial products from major markets around the world, such as Hong Kong stocks, warrants, options, US stocks, US fractional shares and ETFs, etc., providing a one-stop solution to their investment needs. In the future, we will continue to expand our trading markets and categories to better serve Hong Kong investors.
About Tiger Brokers
Tiger Brokers (Nasdaq: TIGR), founded in 2014, is a leading online brokerage group with a focus on redefining global investing with technologies for the next generation.
Since our inception, the company has relentlessly offered a superior user experience to let everyone enjoy efficient and smart global investing, by bringing a multitude of quality financial products and services across brokerage, employee stock ownership plan (ESOP) management, investment banking, wealth management, investor community, and investor education in our pursuit of becoming a world-leading online brokerage group.
We strive to elevate financial technology R&D to a new level. While we inherit the best traditions from the financial sector and blend them with the best minds of tech experts, we develop our own technology infrastructure—an aggregation that enables multi-currency trading of various products across markets, guaranteeing our reliable, secure, and scalable services accessible to all with low latency.
Currently, we serve over 10 million users and over 2 million account holders worldwide on our flagship platform “Tiger Trade”, own 78 licenses and qualifications in different markets, and have over 1,000 employees on the team in Hong Kong, Singapore, New Zealand, the US, Australia, and Mainland China. In 2019, the company was listed on Nasdaq as UP Fintech Holding Limited under the ticker TIGR.
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Blockchain Press Releases
Bitget’s Blockchain4Youth Celebrates 1st Anniversary, Educated Over 6,000 Participants Worldwide
VICTORIA, Seychelles, May 6, 2024 /PRNewswire/ — Bitget, a leading crypto exchange and web3 company, announces the first anniversary of its Blockchain4Youth program and launches recap videos of the program. The initiative celebrated a year of driving Web 3.0 adoption among the youth, staying true to Bitget’s core principles of innovation, education, and empowerment. Bitget envisions a more equitable future driven by the crypto revolution, and Blockchain4Youth is a testament to that vision.
Over the past year, Blockchain4Youth has engaged over 6,000 participants and delivered over 54 campus lectures and workshops worldwide. Various events took place in Asia, the Middle East, Oceania, Europe and South America. The courses connect young participants with the tools and knowledge to understand and utilize blockchain technology, and over 2,000 certificates were issued to participants who completed the courses and passed the test.
The program’s ongoing collaborations with prominent influencers and over 51 universities, including University College London (UCL) in the United Kingdom, National Technological University in Argentina, Royal Melbourne Institute of Technology in Australia, National Taiwan University’s Blockchain Club, Ateneo De Manila University in the Philippines and many more. The program’s wide reach reinforces the company’s dedication to advancing blockchain education and empowerment initiatives.
Launched in May 2023 with $10 million committed over the following 5 years, Blockchain4Youth has quickly become a beacon of opportunity for Millennials and Generation Z. A study conducted by Bitget indicates that Millennials and Generation Z are pivotal in shaping a crypto-friendly future, with Millennials accounting for 46% of crypto enthusiasts.
Gracy Chen, Managing Director of Bitget, expresses, “Blockchain4Youth’s journey has been remarkable, and the program has transformed blockchain education, making it accessible and practical for the leaders of tomorrow,” remarks Chen. “Our dedication has not only been about imparting knowledge but about cultivating a vibrant community ready to pioneer the transformative applications of blockchain.”
Blockchain4Youth’s future plans include providing more scholarships worldwide and launching more online courses and content featuring different influencers in the field on crypto-related topics to further garner youngster’s attention.
About Bitget
Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 25 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL.
For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet
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