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FreeTON Moves Forward with Rebranding Publicly Burns 3 Billion TON Crystal Tokens

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Tallinn, Estonia–(Newsfile Corp. – November 11, 2021) – FreeTON has announced that it will be moving forward with its rebranding to Everscale and has burned 3 billion TON Crystal tokens to set the foundation for the new direction of the project. The token burn has occurred on a smart contract ensuring that the tokens will never be returned.

Figure 1: FreeTON moves forward with rebranding publicly burns 3 billion TON Crystal tokens

Following a summer of significant development, the FreeTON DeFi Alliance in conjunction with the FreeTON community, came together to draft a new plan of action that takes into account the growth of the network since it was launched and identifies what needs to be done to see the network achieve its full potential.

The results of the community’s deliberations can be seen in the FreeTON Alliance Partnership Extension, a document outlining key steps that will be taken with the aim of further expansion. Chief among the upcoming changes will be a project rebranding that will see the FreeTON network be renamed to Everscale, with the TON Crystal token (TON) becoming the Everscale token (EVER). In addition, measures will be taken to rebalance the supply and demand of network assets and integrate the network and its assets with major digital asset exchanges.

First up among the project’s scheduled changes is the burning of 3 billion TON Crystal tokens. The decision to burn the tokens was deemed necessary to set the stage for the transition from the network’s beta stage to mainnet. The transition to mainnet has been supported by a recent event that demonstrated the ability of Rust Nodes to deliver the best throughput on the market with unlimited potential for further scalability.

TON Crystal (TON) is the FreeTON network’s native token and the lynchpin of the FreeTON economy. The total emission of the TON Crystal token is 5.04 billion with around 735 million currently in circulation. The token burn of 3 billion TON will reduce the total supply by over half and increase the relative value of the token by 2.5 times.

The token burn was public and enacted via a smart contract that will ensure that the tokens will never be returned. Those wishing to observe the token burn could do so on YouTube, where the tokens were burned on a live stream.

Commenting on the token burn, FreeTON developers highlighted that it is, “A big step in getting away from the legacy of the TON project. The technology that we have developed is completely our own and the ecosystem that has been built up around it has opened up possibilities that greatly surpass the original TON framework. This token burn marks the start of a new chapter for this project, one that we are sure is going to have an indelible impact on the DeFi industry.”

The Telegram Open Network was launched by the Durov Brothers before it became mired in legal complications. After the Durovs ceased development on the project, it became open source, opening the door for the creation of the FreeTON network and the subsequent further development of the project. Having progressed substantially since its launch as FreeTON to where it now ranks alongside Solana, Polkadot, Near and other expansive DeFi ecosystems, Everscale is looking to continue developing uniquely advantageous blockchain solutions.

The smart contract that facilitated the token burn is up on GitHub, and the transaction, which sent the tokens to the “Black Hole” address is visible on TON Scan.

About Everscale (FreeTON):

Everscale is a fast, secure and scalable network with near-zero fees, which can process up to a million transactions per second thanks to its unique dynamic sharding technology. The network was originally built off of the Durov brothers’ TON concept before launching as a separate entity. The change to Everscale was predicated by the network’s robust development which saw it move way beyond the original technological offerings of TON and build an entire ecosystem around its platforms and products, replete with its own nodes and technology. The ecosystem features a number of products, including a DEX and bridges with other blockchains.

Media contacts
Name: Lily
Company name: FreeTON DeFi Alliance
Email: [email protected]
Website: https://tonalliance.org

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/103104

Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

Blockchain

SpaceCatch: Where AR gaming meets blockchain innovation

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SpaceCatch has launched a new gaming platform that combines augmented reality with blockchain technology to promote fairness and enhance user experience, with a Public Beta scheduled for April 22, 2024.

SpaceCatch has unveiled a new gaming platform that combines augmented reality with blockchain to give users a fair gaming experience.

In gaming, one of the prevalent issues players encounter is the lack of fairness. Many games suffer from imbalances that give certain players unfair advantages or where the game’s economy favors only a select few.

This disparity can lead to frustration and dissatisfaction among players, ultimately diminishing the overall gaming experience.

In response to the growing demand for fairness in gaming, SpaceCatch emerged as a solution. This innovative game utilizes cutting-edge technologies like augmented reality and blockchain to establish an equitable gaming environment.

Through its decentralized design, SpaceCatch ensures that no single entity exerts undue influence over the game’s assets or mechanics, promoting fairness and inclusivity at its core.

Also, scheduled for April 22, 2024, the highly anticipated Public Beta launch of SpaceCatch represents a significant milestone in the gaming industry. With 20,000 testing slots available, this event marks a major advancement in the GameFi landscape. It underscores SpaceCatch’s commitment to revolutionizing the gaming world and its dedication to driving positive change within the gaming community.

In essence, SpaceCatch is not just a game but a solution to the gaming industry’s fairness problem. It provides a space where every player has an equal opportunity to succeed, making gaming more enjoyable and rewarding for all. But before we delve further into SpaceCatch, let’s find out more about it.

Embark on an epic journey with the new beta
During the current beta testing phase, participants will embark on an exhilarating journey through the expansive virtual universe of SpaceCatch. This captivating game is brimming with formidable alien adversaries, elusive treasures, and captivating mysteries waiting to be unveiled.

As beta testers, players wield significant influence in shaping the future trajectory of SpaceCatch, contributing invaluable feedback and insights to refine and elevate the gaming experience for all.

Beyond its commitment to fairness, SpaceCatch offers an immersive and revolutionary gaming encounter. Leveraging augmented reality (AR) technology, SpaceCatch crafts a dynamic and interactive gaming realm that immerses players like never before.

Whether battling aliens in your own neighborhood or venturing into uncharted territories via your smartphone screen, SpaceCatch delivers an unparalleled gaming adventure.

But that’s not all. SpaceCatch has pioneered the integration of blockchain technology, which adds a layer of security, transparency, and decentralization to the gaming experience. With blockchain, players can own their in-game assets, trade them confidently, and contribute to the vibrant SpaceCatch economy.

Furthermore, SpaceCatch is not just a game; it’s a community. With the help of AI-driven quests, personalized experiences, and social interactions, SpaceCatch brings players from all over the world together. Whether you’re collaborating on missions, trading assets, or simply chatting with other players, SpaceCatch fosters connections and camaraderie.

In summary, SpaceCatch is not just a game; it’s an innovative fusion of technology, community, and entertainment. It’s a platform where fairness, immersion, and innovation converge to create an unparalleled gaming experience.

Power of the CATCH token
SpaceCatch is a universe where players can engage in exciting adventures and earn rewards by using CATCH tokens. With a total supply of 100 million tokens, CATCH serves as the lifeblood of the SpaceCatch ecosystem. Whether players stake, purchase, or interact with others, CATCH tokens offer numerous opportunities to enhance their gameplay experience.

SpaceCatch has set aside 20 million CATCH tokens for staking over the next five years to incentivize long-term engagement and reward loyal players. In the first year, 50% of all staking rewards will be redistributed to the staking community, making it an attractive opportunity for participants.

CATCH tokens have multifaceted utility within the SpaceCatch universe. Players can use them to make in-game purchases, such as acquiring tools, missions, and exclusive content. Additionally, participants in the staking program can earn additional CATCH tokens as rewards for holding their tokens in a designated wallet over time, fostering commitment and loyalty.

Beyond staking, players can earn CATCH tokens through diverse in-game activities such as completing missions, battling aliens, participating in events, and encouraging active engagement and exploration. CATCH tokens also facilitate interactions within the SpaceCatch community, enabling players to trade, gift, or exchange tokens with one another, fostering camaraderie and collaboration.

Source: cypto.news

The post SpaceCatch: Where AR gaming meets blockchain innovation appeared first on HIPTHER Alerts.

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Blockchain

Blockchain Transforming Travel: Quantum Temple’s Innovative Venture

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In a groundbreaking collaboration at the enchanting crossroads of tourism and blockchain, Quantum Temple pioneers a futuristic upgrade for travelers. Partnering with Mysten Labs and Indonesia’s Ministry of Tourism and Creative Economy, Quantum Temple introduces a pioneering Web3 experience at Bali’s revered Pura Tirta Empul. This innovative endeavor seamlessly intertwines ancient heritage with modern technology, offering visitors an unprecedented journey through Bali’s aquatic marvels via blockchain-enabled entries and digital collectibles.

Visionary Leadership and Innovative Solutions
Linda Adami, the driving force behind Quantum Temple, envisions a paradigm shift in the tourism industry, where advanced blockchain technology fosters transparency and community empowerment. Adami’s inspiration stems from her tenure with Dubai’s government and her observations in Bali, where she witnessed the challenges locals faced within traditional tourism frameworks.

Central to Quantum Temple’s initiative is the Quantum Temple Passport, a cornerstone of this inventive endeavor. By integrating a decentralized loyalty scheme with a non-custodial wallet, Quantum Temple crafts an immersive digital journey for users. The platform ensures inclusivity by incorporating zkLogin, simplifying onboarding processes and broadening its appeal to all, including tech novices.

Addressing Industry Challenges and Shaping Future Trends

Quantum Temple tackles the pressing issues of overtourism and fragmented data through its smart blockchain system. This system enhances visitor relations and empowers cultural site management with enhanced decision-making capabilities. Through its “phygital” asset strategy, Quantum Temple establishes memorable connections, offering travelers tangible keepsakes and digital souvenirs that directly contribute to heritage conservation efforts.

Market Trends and Forecasts

The integration of blockchain technology into the travel industry mirrors current trends, with a focus on sustainability and responsible travel. Initiatives like Quantum Temple, which prioritize conservation funding and community empowerment, align perfectly with these trends. As blockchain applications continue to evolve, personalized customer experiences and streamlined processes are expected to drive further adoption within the tourism sector.

Key Challenges and Controversies

Despite its potential benefits, blockchain initiatives in travel face challenges such as the digital divide, environmental concerns, and privacy issues. Bridging this gap and ensuring accessibility for all users, while addressing environmental impacts and ensuring data security, remains imperative for widespread adoption.

Advantages and Disadvantages

Blockchain technology offers enhanced security, transparency, and streamlined loyalty programs within the travel industry. However, challenges such as complexity in adoption, scalability issues, and regulatory uncertainties persist. Balancing these advantages with environmental considerations and ensuring equitable access to benefits remains a focal point for stakeholders in the evolving landscape of blockchain-powered tourism.

In conclusion, Quantum Temple’s innovative approach heralds a new era in travel, where blockchain technology not only enhances experiences but also fosters sustainability and community empowerment. As the industry embraces these advancements, the potential for transformative change within the tourism sector is vast, promising a future where travel is not just a journey but a meaningful exploration of culture and heritage.

Source: cointrust.com

The post Blockchain Transforming Travel: Quantum Temple’s Innovative Venture appeared first on HIPTHER Alerts.

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Fields of AI and Blockchain Celebrated in Dubai at Global AI Show and Global Blockchain Show

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A wide range of themes will be discussed at both conferences. At the Global AI Show, attendees will get a glimpse into an AI-powered future. Keynote speeches on sectors such as healthcare, finance, retail, oil and gas will show the new possibilities as a result of AI. Evolution of the digital ecosystem, data protection, blockchain in finance, gaming, metaverse and NFTs are some of the topics that will be discussed at the Global Blockchain Show.

The Global AI Show
Jamie Metzl, a technology and healthcare futurist, will be navigating the implications of AI, genetics, and biotechnology revolutions. Attendees can get their copies of Hacking Darwin: Genetic Engineering and the Future of Humanity signed. They also get exclusive insights from Metzl’s new book – Superconvergence: How the Genetics, Biotech, and AI Revolutions Will Transform our Lives, Work, and World.

Dr. Divya Chander, a neuroscientist and medical futurist, will take attendees on a journey from brain reading to brain writing to closed-loop brain machine interface systems. Another prominent speaker at the Global AI Show is H.E. Dr. Mohamed Al Kuwaiti, head of cyber security at United Arab Emirates Government, who will present a keynote on a future with AI.

The Global Blockchain Show
The Global Blockchain Show will showcase the dynamic landscape of blockchain technology. Among the distinguished speakers, H.E. Justin Sun, the founder of TRON and member of the HTX Global advisory board, will take centre stage.

Additionally, the event will feature a fireside chat with Lennix Lai, chief commercial officer of OKX, who will encompass the yin and yang of crypto trading. Dominic Williams, founder and chief scientist of DFINITY Foundation, will discuss the decentralised cloud vision of the DFINITY blockchain.

Capturing the potential of AI and blockchain
Furthermore, the Global AI Show and the Global Blockchain Show’s official ambassador will be an AI humanoid robot, Sophia. Sophia is a prime example of the wonders of artificial intelligence and robotics, converging technology with humanity.

The Global AI Show and the Global Blockchain Show will feature a start-up village. There, start-ups and scale-ups can pitch their ideas, technology and creations to investors, venture capitalists and big tech.

A VAP Accelerator will also be launched as an incubator for ambitious start-ups. Meanwhile, a community stage at the Global Blockchain Show and the Global AI Show will be set up to focus on fostering inclusivity, collaboration, and engagement within the blockchain and AI community.

Recognising and celebrating excellence and growth
Furthermore, an official awards ceremony will take place on April 17 at the Grand Hyatt, Dubai. The Global AI Awards and the Global Blockchain Awards will reward excellence and innovation in their respective fields.

Lastly, The Global AI Show and the Global Blockchain Show will finish with an afterparty at the White Beach at Atlantis, The Palm. Hosted by VAP Group, the afterparty provides a platform for industry experts and enthusiasts to mingle. They can exchange ideas, build valuable connections, explore potential collaborations, and unwind in a relaxed atmosphere.

Source: thefintechtimes.com

The post Fields of AI and Blockchain Celebrated in Dubai at Global AI Show and Global Blockchain Show appeared first on HIPTHER Alerts.

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