The blockchain industry continues its rapid evolution, bringing new players, regulatory changes, and innovative technologies to the forefront. Today’s briefing explores groundbreaking developments in blockchain trading venues, Layer 1 protocols, digital asset mania, uranium-backed investments, and major fundraising rounds.

1. 21x Secures EU License for Blockchain Trading Venue

In a historic move for blockchain finance, 21x has become the first platform to receive a fully regulated license to operate a blockchain-based trading venue in the European Union. This approval opens doors for increased institutional adoption, offering enhanced transparency and regulatory oversight. Such licensing indicates a significant shift in how traditional finance integrates blockchain technology.

Source: 21x

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2. Sonic Labs Launches Layer 1 Blockchain

Sonic Labs has introduced a new Layer 1 blockchain protocol designed to enhance scalability and security while reducing transaction costs. This initiative targets decentralized applications (dApps) and aims to attract developers frustrated by the limitations of existing networks. As Layer 1 solutions grow, the race to provide efficient alternatives to Ethereum continues to heat up.

Source: Cointelegraph

3. XRP Ledger Developers Respond to XRP Mania

In response to the renewed interest in XRP, developers of the XRP Ledger have announced significant upgrades aimed at improving transaction speeds and network efficiency. With the XRP token experiencing a resurgence, these changes are critical in maintaining its competitiveness in the fast-evolving digital asset landscape.
Source: Daily Hodl

4. Blockchain-Based Uranium Investments for Retail Investors

A consortium of firms is pioneering blockchain-based investments in physical uranium, making it accessible to retail investors. By tokenizing uranium reserves, these companies offer a unique investment avenue previously restricted to large institutional players. This innovation reflects blockchain’s growing influence beyond cryptocurrencies into commodities and alternative assets.
Source: Reuters

5. Pantera Capital Raises Millions for TON Blockchain Funds

Pantera Capital has successfully raised significant capital to support projects within the TON blockchain ecosystem. This fundraising effort highlights the ongoing investor interest in blockchain infrastructure and decentralized finance (DeFi) initiatives. The funds will likely accelerate the development of decentralized applications and expand the reach of blockchain technology in emerging markets.

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Source: DLNews

Key Takeaways and Industry Impact

The approval of 21x’s trading venue by EU regulators signifies a monumental regulatory breakthrough, setting a precedent for similar platforms across Europe. Sonic Labs’ Layer 1 protocol challenges Ethereum’s dominance, emphasizing the need for scalable, cost-effective solutions. Meanwhile, XRP Ledger’s enhancements ensure its relevance amidst growing competition. The tokenization of uranium exemplifies blockchain’s potential to democratize access to niche investment markets. Finally, Pantera Capital’s funding success underscores the resilience of blockchain investments despite broader market volatility.

The post Blocks & Headlines: Today in Blockchain – A Daily News Briefing (21x, Sonic Labs, Ripple Labs, Uranium Investments, Pantera Capital, appeared first on News, Events, Advertising Options.

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peaq, the layer-1 blockchain powering DePIN and the Machine Economy, announces the expansion of its ecosystem as PING joins to decentralize gaming. PING is building a DePIN of gaming laptops to work as a decentralized cloud service for Web3 and Web2 games. The DePIN will enable gamers to earn rewards for sharing their idle computing resources with game developers and other projects, such as AI startups in need of GPU capacities and crypto miners. As part of its integration with peaq, it will set up a mechanism enabling laptop purchases with stablecoins via peaq and launch its token on the network for the Machine Economy.

The video game industry is a powerhouse in the wider entertainment space, raking in more revenues than movie and music industries combined. PC gaming is its major segment, accounting for about a quarter of the entire industry — and as modern games grow more demanding with every year, so does the computing power of an average gaming rig. This leaves gamers with a lot of idle computation power on their hands, which could be shared with others for rewards.

PING is building a DePIN that will enable gamers to monetize these spare resources, earning rewards for letting the network leverage their rigs when those aren’t in active use. These devices would run as a decentralized backend for Web2 and Web3 online games, giving developers a cheaper and more transparent alternative to traditional cloud services. The spare capacities could also be used for such things as training AI, rendering visuals-heavy virtual experiences, and completing various other tasks. Before its launch, PING is already cooperating with 20 gaming projects that could run on its platform, including Yuliverse and Seraph.

Manufactured by ThundeRobot, a major Chinese gaming hardware company, the PING laptop is the powerful workhorse of the DePIN. Running on a 16-core Intel i7-14650HX processor, it leverages the high-end NVIDIA RTX4070 GPU and 16 GB of RAM to run the most demanding Web2 and Web3 games. With some 2,000 units already sold, the laptop owners will get special benefits in the PING ecosystem, including priority in staking, exclusive rewards from partners, and more. However, the DePIN will be open for non-proprietary gaming rigs to join as well in the future.

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As part of its integration with peaq, PING will set up a mechanism that will enable people to buy their PING laptops with stablecoins on peaq. It will also build the smart contracts that will enable gamers to mint these laptops as NFTs on peaq, thus confirming their ownership in a trustless and decentralized way. PING will also outfit all devices on its DePIN with self-sovereign peaq IDs and launch its token natively on peaq.

“The gaming industry is blossoming, and DePIN can help it scale to the next level,” says Tony Zhang, co-founder of PING. “The PING DePIN is doing exactly that, aligning the incentives of all stakeholders: Gamers get to enjoy top titles while earning rewards for monetizing their spare compute while developers get a cheaper backend for all their cloud needs. This project is made possible by peaq’s impressive fundamentals, which will help PING scale and grow, and the peaq IDs will work as a powerful tool for secure authentication and identity management on the network.”

“The DePIN model puts gamers at the helm of the industry they love and care for, making them the owners of the infrastructure their favorite games run on,” says Leonard Dorlöchter, co-founder of peaq. “PING is bringing this vision to life — and we are thrilled to see it join the peaq ecosystem, with its launch set to make an impact on one of the most important entertainment sectors in the world.”

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BIT Mining Limited (NYSE: BTCM) (“BIT Mining” or the “Company”), a leading technology-driven cryptocurrency mining company, today announced the Company’s continued commitment to self-mining Litecoin (LTC) and Dogecoin (DOGE) alongside Bitcoin (BTC) mining and its data center hosting businesses. As other crypto miners look to diversify revenue streams in a post-halving environment, the Company’s expansion into Litecoin (LTC) and Dogecoin (DOGE) has proved to be nearly three times more profitable than mining BTC alone.

“At BIT Mining, we believe our cutting-edge technology and forward-thinking strategy uniquely position us to adapt to market shifts and seize new opportunities,” commented Xianfeng Yang, CEO of BIT Mining. “By combining innovation with agility, we are enhancing our competitive edge and creating value for our stakeholders. As the cryptocurrency market continues to evolve, we are ready to grow alongside it, leveraging our strengths for long-term success.”

As of November 27, 2024, the Company has mined 84,485.42 LTC and 227,908,250.38 DOGE since it started the LTC and DOGE self-mining business. With over 5,552 active LTC/DOGE/BEL mining machines (capable of mining three coins at the same time, BEL coin is newer and relatively more volatile) delivering a combined hash rate of 18.94 TH/s, the Company currently represents 1.32% of the total global network hash rate in LTC/DOGE/BEL, as one of the largest participants.

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BIT Mining’s commitment to Litecoin (LTC) and Dogecoin (DOGE) is a major strategic action following the Company’s 2021 acquisition of Bee Computing, a semiconductor company dedicated to blockchain hardware design and development. Since the acquisition, the Company has launched power-efficient LD3 miners, one of a few cutting-edge machines that delivers highly cost-effective performance while offering the shortest payback period for LTC/DOGE/BEL mining, increasing profitability and solidifying its position as a market leader. Beyond many years of chip design knowledge accumulation, and three years of dedicated efforts developing crypto miners, the success of LD3 has proven BIT Mining’s forward planning and long-term devotion to blockchain technology, where miners stand firmly in the foundational base to validate and support the whole ecosystem.

“The recent rally in Litecoin and Dogecoin, fueled in part by Elon Musk’s influence and the changing regulatory landscape in the US after the Trump win, has had a major impact on mining profitability,” noted Dr. Youwei Yang, Chief Economist and VP of Mining at BIT Mining. “Ongoing advancements in blockchain technology, particularly in network interoperability, are fueling optimism in the crypto market, with Dogecoin and Litecoin gaining significant momentum. Many analysts predict this upward trend will continue through 2025, reflecting confidence in DOGE’s potential and the broader growth of the cryptocurrency industry.”

Having recently announced an expansion into Ethiopia, the Company continues to be at the forefront of industry and technology innovation, securing premium mining and data center resources while building strong international partnerships. With a renewed focus on mining machine development, self-operated mining, and data center operations, the Company is well positioned to thrive in the rapidly evolving crypto environment.

To learn more about BIT Mining, visit www.btcm.group.

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