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
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MicroStrategy boosts Bitcoin holdings to 214,400 BTC with $7.8m purchase
MicroStrategy has increased its Bitcoin holdings to 214,400 BTC with a recent purchase of $7.8 million worth of the cryptocurrency. This move further solidifies MicroStrategy’s position as a major institutional holder of Bitcoin and demonstrates its continued bullish outlook on the digital asset.
MicroStrategy, a publicly traded business intelligence firm, has been actively accumulating Bitcoin as part of its treasury strategy, viewing the cryptocurrency as a long-term store of value and hedge against inflation. The recent purchase of $7.8 million worth of Bitcoin adds to the company’s already substantial holdings, reaffirming its confidence in the future potential of the digital currency.
MicroStrategy’s ongoing accumulation of Bitcoin reflects a broader trend of institutional adoption and investment in the cryptocurrency space. As more companies recognize the value proposition of Bitcoin as a hedge against economic uncertainty and fiat currency devaluation, they are increasingly allocating funds to acquire and hold the digital asset.
Overall, MicroStrategy’s decision to boost its Bitcoin holdings with a $7.8 million purchase underscores the company’s conviction in the long-term viability and potential of Bitcoin as a strategic asset. This move is likely to further encourage other institutions to explore Bitcoin as a component of their investment portfolios, driving continued growth and adoption in the cryptocurrency market.
Source: crypto.news
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