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Blockchain Press Releases

IDTechEx Discusses 4 Ways to Eliminate Rare Earths in EV Motors and One You Haven’t Heard




BOSTON, Aug. 14, 2023 /PRNewswire/ — The use of rare earths in various modern technology has drawn attention over the years. But with the rising demand for electric vehicles (EVs), the issue has been brought to the fore. 82% of the electric car market in 2022 was using electric motors based on rare earth permanent magnets. China largely controls the supply of rare earths, and this has led to significant price volatility in previous years, with a large spike in 2011/2012 and a big rise between 2021-2022. Crucially, in comparison to some other technologies, several methods can be used to eliminate the use of rare earths in electric motors, which will be outlined in this article along with the pros, cons, and adoption.



This article is based on IDTechEx’s latest “Electric Motors for Electric Vehicles 2024-2034” report that analyses different motor technologies for performance, materials, market adoption, and future potential.

To briefly describe the construction of an electric motor, a stationary part (stator) has coils of metal (typically copper) fed by an electric current to generate a magnetic field. This field will then turn the rotating part of the motor (rotor). In a rare earth permanent magnet (PM) motor, the magnets are located on the rotor.

1.  The Induction Motor

In an induction motor (or asynchronous motor), the rotating magnet field produced by the stator induces currents on the rotor, which in turn produces a magnetic field that is attracted/repelled from the radial field of the stator windings. The induction motor uses copper or aluminum bars or windings on the rotor. These motors typically present good peak power and torque density over short periods but can prove challenging to thermally manage and typically have lower efficiency than PM options.

Induction motors have been common in the EV market, being the primary choice of Tesla until the release of the Model 3 (which adopted a PM design). In the car market, some proponents remain, such as Audi and Mercedes, but induction motors are now largely used as a secondary motor, used for acceleration boosts as they do not create drag when not in use, eliminating the need for a decoupler.

2.  The Wound Rotor Motor

Also known as an externally excited synchronous motor (EESM), the wound rotor synchronous motor (WRSM) replaces the magnets on the rotor with coil windings that can be fed with a DC current to generate a magnetic field. This has the advantage of being able to control both the stator and rotor field. The downsides are the additional manufacturing steps required to add windings to the rotor and brushes are needed to transmit power to the rotor. These motors have historically also had poorer power and torque density, but modern versions are comparable with PM motors.

Renault was an early proponent of this technology in the Zoe, but now BMW and Nissan have adopted this design, and tier 1 MAHLE has presented a version with wireless power transfer to the rotor, eliminating the brushes.

3.  The Switched Reluctance Motor

Switched reluctance motors (SRMs) are potentially the most simple to construct, with the rotor largely being constructed of steel. The steel of the rotor has low reluctance compared to the air around it, so magnetic flux preferentially travels through the steel while attempting to shorten its flux path, rotating the rotor. Despite their simplicity and reliability, SRMs have typically been plagued with poorer power and torque density with other issues, including torque ripple and acoustic noise.

While SRMs have largely been confined to more industrial or heavy-duty applications, significant efforts are going into their development for EVs. Companies like Turntide Technologies have added more rotor and stator poles and come up with more sophisticated control systems to overcome traditional issues. UK-based Advanced Electric Machines have developed a new type of motor with a segmented rotor that remains simple in construction but is said to eliminate the acoustic noise and torque ripple while improving power and torque density; this design is the center of a project alongside Bentley.

4.  Alternative Magnetic Materials

While many OEMs have steadily reduced the rare earth content of their motors, Tesla gained much interest by saying that its next-generation drive system will be a PM motor without rare earths. There are several ongoing projects to develop rare earth free magnets that can compete on magnetic performance; these are at varying levels of commercialization.

The problem with alternative magnetic materials is that their magnetic performance is generally much worse. For example, some manufacturers that make rare earth and ferrite magnet motors show a reduction in power by 50-70% for ferrite version of the same size motor, meaning that to match performance, much more magnetic material and/or a much larger motor is required.

Proterial has developed magnets with magnetic properties that it states “deliver the world’s highest levels among ferrite magnets”. The motor design only requires 20% more magnetic material to keep the motor power density the same. Niron Magnetics are developing iron nitride magnets, and its next-generation versions are planned to compete with neodymium performance. PASSENGER is a European project developing strontium ferrite and manganese aluminum carbon alloys. While efforts are underway, materials with a truly comparable performance are still some ways into the future; however, with other changes to the motor design, they might not need to.

5.  A High Speed Ferrite Motor with Further Optimizations

While the adoption of ferrite magnets would significantly reduce motor performance, optimizing many other motor features could minimize this impact. Australian technology company Ultimate Transmissions has submitted a patent for a ferrite motor design that it believes could be one route Tesla could take to eliminate rare earths in a PM motor.

The design uses much larger ferrite magnets and higher speeds (20,000rpm) to achieve comparable power to a similarly sized rare earth PM motor. One challenge comes from containing the magnets effectively in the rotor; a potential solution would be using a carbon fiber wrap on the rotor (a technology Tesla has already demonstrated in its Plaid vehicles). Another challenge is that the ferrite magnets would need to be heated for optimal operation, the opposite issue faced by neodymium magnets, but not unachievable.

It should be noted that this design is still in the simulation phase, and Tesla could well be taking a different approach, such as its own alternative magnetic materials. But in simulations, this approach has shown similar power, reduced costs, and reduced weight at the expense of slightly reduced torque and a longer stack.

IDTechEx predicts a significant rise in rare earth free motor technologies. Source: IDTechEx

Conclusions for the Future

There is an increasing focus, especially outside of China, on reducing the rare earth content of electric motors. There are several strategies, each with its own trade-offs and opportunities for motor manufacturers and material suppliers. IDTechEx is predicting that rare earth PM motors will remain the dominant technology, largely thanks to China’s dominance in the EV market and other mines starting to come online worldwide. However, it anticipates that rare earth free options, including those mentioned above, will account for nearly 30% of the market in 2034.

IDTechEx’s latest iteration of “Electric Motors for Electric Vehicles 2024-2034” takes a deep dive into motor technology, market adoption, material utilization, and market forecasts. It draws from a large database of vehicles and motors across vehicle segments, including cars, buses, trucks, vans, 2-wheelers, 3-wheeler, microcars, and aircraft.

To find out more about this report, including downloadable sample pages, please visit

About IDTechEx

IDTechEx guides your strategic business decisions through its Research, Subscription and Consultancy products, helping you profit from emerging technologies. For more information, contact [email protected] or visit

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Media Contact:

Lucy Rogers
Sales and Marketing Administrator
[email protected]
+44(0)1223 812300

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Blockchain Press Releases

Friend.Tech and Base Anti-Phishing Boosted By CoolWallet’s Web3 SmartScan



TAIPEI, Oct. 2, 2023 /PRNewswire/ — Base’s new killer DApp, the decentralized social network, is breaking transaction records with record adoption, but is being targeted by hackers and scammers through phishing attacks.To raise awareness of the importance of hardware wallet protection and promote its powerful Web3 SmartScan transaction screener, CoolWallet has launched a Web3 Guardian competition.

Coinbase’s new Ethereum layer-2 chain, Base, has become a favorite for DApp developers and early investors due to its outstanding performance and the innovative projects it attracts. One DApp in particular, the decentralized social media platform, has driven the bulk of its growth in recent weeks. helping Base repeatedly reach new transaction volume highs despite difficult market conditions.’s rapid rise has garnered widespread attention- according to the latest data, the daily active user (DAU) count of have surpassed the million mark, with its transaction volume consistently hitting new records and its total value locked (TVL) now surpassing $35 million.

However, with any crypto trends comes new security risks, in this case a familiar foe, phishing attacks. This type of social engineering attacks dominate crypto thefts, which by June 2023 had already hit the $650 million mark across the Web3 sector. This month alone has already seen successful attacks targeting high-profile victims Mark Cuban and Vitalik Buterin and stealing millions in the process.

As a result, Base and users are urged to use a reputable hardware wallet to secure their tech digital assets by protecting their private keys and screening transactions.

In response, hardware wallet maker CoolWallet, which natively supports the Base ecosystem, has launched an anti-phishing campaign titled  Web3 Guardian Competition to create awareness and promote its unique defense capabilities such as CoolWallet SmartScan, which proactively screens all Web3 transactions and flags malicious behavior or smart contract vulnerabilities before users are exploited.

How works has garnered a cult following among crypto enthusiasts as one of the first decentralized social networks to be built on the Base blockchain. It’s powered by blockchain and smart contracts, where users must buy “shares” of another person in order to chat with them. Its tagline is “Your network is your net worth”.

To use, users must first sign up with their Twitter (X) account, create a profile and then start trading shares of other users who have also signed up. A user’s share price is determined by factors like their popularity, reputation, and overall demand.

Buying shares of another user gives you access to them, allowing you to message them directly and chat. The more shares you buy, the higher a priority your messages will be. recommends hardware wallet protection

With crypto phishing attacks claiming even high-profile victims such as Vitalik Buterin and Mark Cuban as victims in recent weeks, it’s no surprise that also places great emphasis on asset security.

It therefore recommends that users utilize a hardware wallet for enhanced protection against threats like phishing sites. Storing assets offline makes them less accessible to online hackers, thus offering greater security.

CoolWallet’s SmartScan Flags Web3 Phishing Threats

CoolWallet (established in 2014) has since the launch of its CoolWallet Pro flagship model in 2021 pivoted strongly to securing Web3 assets, which requires users to interact with DeFi protocols that could potentially drain their accounts if they authorize the wrong transaction.

CoolWallet Pro in particular makes for an ideal hardware wallet as it’s one of the first cold wallets to support the Base network, and boasts several elite security features, such as:

  • an EAL6+ secure element
  • biometric verification (both on phone and device)
  • tamper proof and waterproof design

Importantly, its CoolWallet App comes with real-time Web3 transaction analysis scanning called Web3 SmartScan.

While cold storage is as safe as can be, the biggest vulnerability remains human error or a lapse in judgment, where the user is tricked into authorizing a bad transaction or revealing their recovery seed or private key to a bad actor.

CoolWallet’s SmartScan, available on its CoolWallet App, provides Web3-native protection against phishing attempts. It automatically screens transactions and flags attempted phishing, suspicious transactions and smart contract vulnerabilities. This makes using cold storage even safer to use, and elevates CoolWallet above other hardware wallet brands.

Web3 Guardian Competition- Secure Your Crypto for the Next Bull Run!

To promote Web3 asset protection among blockchain users and help them safeguard their crypto portfolio with SmartScan until the next bull run, CoolWallet is launching a global new competition aimed at enhancing user security awareness with generous rewards to participating users.

For more details, please visit their website’s event page or X (Twitter) account

About Base:

Base is a secure, low-cost, builder-friendly Ethereum L2 built to bring the next billion users on chain.

About is an emerging DApp focused on social interactions and cryptographic asset management. It provides users with a secure and efficient blockchain platform. The platform currently operates on the Base chain and is continuously expanding its features and user base.

About CoolWallet

CoolWallet is a pioneering Web3 hardware wallet brand established in 2014 by CoolBitX that offers users the comfort of convenient and fully portable cold storage of all digital assets, including DeFi and NFT crypto assets.

CoolWallet Pro is a flagship Web3 hardware wallet that boasts a wafer-thin smart card form factor, an EAL6+ secure element, military-grade Bluetooth encryption, and a tamper proof and water-resistant exterior, while its custom CoolWallet App offers users a choice of DeFi marketplaces, DApp support and real-time transaction screening.

CONTACT: Domo Zhuang, [email protected]

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Blockchain Press Releases

Webb Unveils Tangle Network Testnet, Pioneering the Future of Private, Decentralized Applications



NEW YORK, Sept. 29, 2023 /PRNewswire/ — Today, Webb announced the launch of its much-anticipated Tangle Network Testnet, setting the stage for a new era of private and decentralized applications.

About Webb

Led by founder Drew Stone, Webb is the premier cross-chain zero-knowledge messaging layer, committed to revolutionizing blockchain privacy. Backed by industry giants like Polychain, Lemniscap, and Commonwealth Labs, Webb introduces a suite of tools aimed at advancing zero-knowledge (ZK) and multi-party computation (MPC) applications across multiple blockchains.

The Challenge and Our Solution

Blockchain networks today face significant hurdles: limited interoperability, scaling difficulties, centralized control, and privacy concerns. Webb’s Tangle Network, built on the powerful Substrate framework, is designed to tackle these challenges by offering a next-generation blockchain platform.

Why Tangle Network?

Our vision is to make it easier for developers to create secure, private zero-knowledge (ZK) and multi-party computation (MPC)-based decentralized applications. Tangle Network simplifies:

  • Proof Generation: Delegate computational tasks to our validators.
  • Trusted Setups: Tangle Network manages complex ceremonies for you.
  • Secure Signing: Utilize our threshold signing for cross-chain operations.

By removing these barriers, we massively improve the time to launch for ZK and MPC-based decentralized applications.

Noteworthy Features

  • Unparalleled speed, security, and scalability via Substrate.
  • Decentralized control through Distributed Key Generation (DKG).
  • Advanced protocols for zero-knowledge applications.
  • Cross-chain compatibility with IBC and XCM.
  • Easy migration of existing apps through Ethereum Virtual Machine (EVM) support.
  • Smooth, forkless upgrades.

What’s Next?

The Testnet launch kicks off with an in-depth whitepaper, followed by a series of engagement events during the testnet phase. Our mainnet is scheduled for a Q1/Q2 2024 launch, featuring hackathons, workshops, and a targeted grant program to accelerate the adoption of privacy-focused applications.

Testnet Quick Links

Get Involved

  • Developers: Start building on Tangle today. Learn More
  • Validators and Relayers: Help secure and maintain the network. Learn More
  • Join the Community: Follow us on Twitter or join our Discord.

Contact Us
For media inquiries, partnerships, or more information, email us at [email protected] 

Visit our website

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Blockchain Press Releases

ChainUp Celebrates 6th Anniversary, Charting Blockchain Innovations beyond Digital Assets



SINGAPORE, Sept. 29, 2023 /PRNewswire/ — ChainUp, a Singapore-based trailblazer and global leader in the blockchain industry, marked its sixth anniversary celebration with more than 500 business partners at Ce La Vi Singapore. During the celebration, ChainUp Founder and CEO, Sailor Zhong reflected on the journey, “Six years in the blockchain industry showcases our resilience, innovation, and forward-looking approach. As we look to the future, we are committed to shaping a digital asset environment that is reliable, transparent, and unparalleled. ChainUp aims to champion blockchain solutions beyond the applications of digital assets and bridge the gap between digital asset markets and traditional finance (TradFi) to increase effectiveness and market efficiency.”

The DEX Renaissance
As decentralized finance (DeFi) comes into prominence and focused on returning control to users, one of the sectors impacted by DeFi are the exchanges where cryptocurrencies are traded. Data from CoinMarketCap reveals that trading volumes on Decentralized exchanges (DEX) reached $1.2 trillion in 2022, indicating a 340% YoY growth. However, factors such as poor user experience impeded the rate of adoption of DEX. Recognizing this trend, ChainUp has updated its white-labeled DEX solution, incorporating advanced features, strengthening its security, improving its liquidity and aims to provide a decentralized trading experience that is on par with commonly-used centralized exchanges (CEX).

Bridging TradFi and Digital Assets Market
The traditional financial sector has been progressing very cautiously on digital assets. As more institutions lean into RWA tokenization, they unlock unparalleled liquidity in a borderless trading environment. Amidst this evolution, ChainUp’s RWA solutions emerge as an industry pioneer, offering robust tokenization protocols, seamless integration, and enhanced security, bridging the gap between TradFi and the digital future with unmatched finesse.

Minimizing Risk and Maximizing Security
ChainUp’s MPC Wallet revolutionizes crypto security by integrating MPC technology with advanced hardware isolation, ensuring utmost safety and encryption on data. The wallet offers dynamic key-refreshing mechanisms, chain-agnostic compatibility, and eliminates single-point vulnerabilities. With efficient multi-address management and 24/7 expert support, users enjoy full asset control, scalability, and cost-efficiency, all under one roof.

Compliance: The Guiding Principle
Navigating global regulations in the blockchain sector can be complex. ChainUp’s KYT subsidiary, Trustformer, offers peace of mind for enterprises tackling compliance-related challenges.  ChainUp’s advanced solutions in Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) show their commitment to a more secure blockchain environment.

For detailed insights into ChainUp’s innovative solutions, please visit:

About ChainUp
Headquartered in Singapore, ChainUp is a global leading end-to-end blockchain technology solutions provider covering infrastructure development and ecosystem support. Built on the mission to empower businesses through blockchain technology, ChainUp’s innovative and all-around compliant solutions include digital asset exchange, KYT, NFT trading, wallet, liquidity, Web3.0 infrastructure, digital asset custody, security token offerings and more. Established in 2017, ChainUp has offices around the world, serving more than 1,000 clients in 30 countries, reaching over 60 million end-users.

CONTACT: Jacelynn Pang, [email protected] 

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