Blockchain
In Another Step Towards Building Metaverse-Scale Blockchain Infrastructure, Elrond Announces That Web3 Data Brokerage Platform Itheum Will Debut on Its Strategic Launchpad
Dubai, United Arab Emirates–(Newsfile Corp. – March 9, 2022) – Elrond, the company developing internet-scale blockchain technology to onboard the next billion people into Web3 and the Metaverse, has announced its strategic support for Web3 data brokerage platform Itheum, which will debut on Elrond’s strategic launch platform, the Maiar Launchpad.
Elrond announced its strategic support for Web3 data brokerage platform Itheum
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Itheum is on a mission to shift the fundamentals of the internet economy away from the one-sided advertising model, where user data is freely gathered and used by tech platforms, towards a collaborative model where the incentives for data producers and consumers are fully aligned.
“Some of the brightest minds of our generation and insane amounts of resources are increasingly focused on finding new ways to harvest data from users and selling it further for ads,” said Mark Paul, Itheum CEO. “If we empower users and businesses to own their data and derive value from it, the internet can progress to a new level of usefulness and trust, a solid foundation for the next territory for human evolution: the Metaverse.”
By leveraging Elrond Network’s scalable blockchain technology, Itheum will create the premise for everyone everywhere to manage their personal data as assets. Taking things a step further, Itheum is also deriving NFT technology to create NFMe ID-s, “soulbound” Data Avatars for the Metaverse.
“The elements are in place for building a compelling environment where adventure, exploration, and curiosity are elevated to unprecedented levels of immersiveness and unique relevance,” said Beniamin Mincu, Elrond Network CEO. “Data will be the building blocks of the Metaverse, and Itheum is creating the premise for everyone everywhere to share in the significant upside potential of this untapped new economy.”
NFMe ID technology will enable users to add a metadata layer to their regular avatar, and have more rich and customized experiences, while converting their data into a naturally recurring income stream for the new Metaverse economy.
This technology will be a powerful incentive for end-user adoption, while also creating the premises for data consumers to acquire more valuable and accurate data assets at competitive prices.
The Itheum platform is enterprise-ready out of the box and is already pioneered by a number of customers for healthcare, hospitality, labor and other business verticals that acknowledge data assets as the next frontier for significant growth.
Itheum is incubated by Morningstar Ventures in the strategic Elrond Dubai Incubator, and will debut in the Elrond ecosystem on the Maiar Launchpad in late March or early April.
About Elrond
Elrond is a new blockchain architecture, designed from scratch to bring a 1,000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 10,000 transactions per second (TPS), with 5-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.
https://elrond.com
Media Contact:
Dan Voicu, Head of Communications
[email protected]
About Itheum
Itheum is the world’s first decentralized multi-chain data brokerage platform that is powered by the Elrond blockchain. It has been in development for the last three years with a vision to unlock data silos that are created and closely guarded by Web2 organizations. Itheum’s team recognizes that data is a highly tradable asset with immense worth for its controllers, and hence they aim to empower users by helping them own and trade their data in the Web3 and Metaverse era.
https://itheum.io
Media Contact:
[email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/116026
Blockchain
Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users
The post Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users appeared first on News, Events, Advertising Options.
Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
The post Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity) appeared first on News, Events, Advertising Options.
Blockchain
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