Blockchain
Steam Exchange Rails Network Releases Their Blockchain Documentation and Mining Pool Info
Toronto, Ontario–(Newsfile Corp. – April 21, 2022) – Earlier this week, homegrown Canadian crypto startup Steam Exchange released documentation surrounding their upcoming blockchain and mining pool.
The Rails Network nomenclature plays ode to Steam Exchange’s brand identity and continues to push the boundaries of innovation with their Hybrid ‘Proof of Work by Authority’ (PoWbA) consensus mechanism. Steam Exchange aims to make it as easy as possible for developers to use its network. The Rails Network has support for existing tools and DApps. This makes it accessible and convenient for developers to port their existing projects and add new projects to the Rails Network. One of the primary engineering goals of the Rails Network is to prevent malicious teams from hosting projects within our ecosystem – this is an issue that is currently impacting popular blockchains. The team aims to accomplish this through various instruments of the Rails Network and associated smart contracts.
Detailed documentation on the upcoming blockchain can be found here – https://steam-exchange.gitbook.io/rails-network/
The Rails Network encourages utility, speed, and cost efficiency. The Rails Network smartchain/ blockchain will form the backbone of the Steam Exchange ecosystem. The Rails Network is developed with adaptability in mind, allowing for evolution across multiple streams and offers other functionality such as: gamification opportunities, launchpad services, and beyond.
The Rails Network features a hybrid consensus mechanism known as Proof of Work by Authority (PoWbA) which comprises of a ‘Proof of Work’ (PoW) mining component as well as a ‘Proof of Stake’ (PoS) variant where instead of coins, permitted network participants add value to the overall ecosystem with their participation. With ‘Proof by Authority’ (PbA), individuals earn the right to become validators. This is considered more robust than ‘Proof-of-Stake’ (PoS). The private Rails Network™ blockchain, accompanied by it’s unique PoWbA mechanism will allow for a select amount of highly vetted projects to launch off of the Rail’s Network smartchain. The in-depth screening of business operations, team setup, and project longevity will mitigate risk to the Steam Exchange community and offer a safe space for credible projects to call home. The Rails Network is currently undergoing closed circuit ALPHA testing and load bearing exercises.
Gary Bard, Founder and CEO of Steam Exchange, mentions, “We’re pleased to have been able to share this development with our community and wider audience. After months of development, we’re at our APLHA testing stage where we put the network through multiple stress tests under heavy load and volume, push it to it’s testing limits and work out any issues that may arise. At Steam Exchange, innovation definitely stays front and center – we’ve oriented our Rails Network blockchain around a unique ‘Proof-of-Work-by-Authority’ (PoWbA) mechanism that features the best of both ‘Proof-of-Work’ and ‘Proof-of-Stake’ methodologies. Our team is steadfast and dedicated. We look forward to opening up testing to the community in our BETA phase. Our global community has been a source for constant inspiration and their support has been immensely valuable. We look forward to building and continuing to innovate, with all of you being a part of the journey.”
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/121241
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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