Blockchain
Balancer Protocol Launches on Optimism in Collaboration with Beethoven X
New York, New York–(Newsfile Corp. – June 2, 2022) – Balancer Protocol has launched on leading Ethereum Layer 2 scaling solution Optimism to significantly reduce gas costs and scale DeFi liquidity. Ethereum’s challenges have led to prohibitive fees, creating an extreme barrier to entry for users of decentralized finance. Balancer’s technology launching on Optimism ensures DeFi liquidity provision with the scope for sustainable, scalable, innovative growth that is highly competitive in the L2 network.
“By launching on Optimism, Balancer is recognizing that it is a leading L2 solution. Its distinctive scalability, while inheriting Ethereum’s security, led to the recognition that it will enhance the user experience and propel growth. L2s show the promise of reducing transaction fees and network congestion, and we are excited to bring our technology to the Optimism ecosystem.” – Fernando Martinelli, Balancer Labs CEO & Co-Founder.
The front end of the Optimism deployment will be led by Balancer’s collaboration with Beethoven X. The cumulative expertise from both teams results in a DEX with the technical prowess and innovative capabilities needed to become a formidable player in the Optimism ecosystem.
Optimism supports all DApps in the Ethereum network by using a technique known as optimistic rollups. Optimistic rollups assume all transactions in the rollup are valid, thereby increasing Ethereum’s transactions per second and drastically decreasing fees – securing over $600 million in on-chain value.
Exceedingly expensive transaction fees, growing network congestion, and an inability to scale significantly stifle the growth of the $600 billion Ethereum network. Currently, Ethereum can only support around 30 transactions per second, resulting in the aforementioned issues.
“We are incredibly excited to see Balancer going live on Optimism. Balancer is an important DeFi building block and seeks to bring a more flexible trading experience to the ecosystem. Moreover, working with the excellent Balancer and Beethoven X teams represents an awesome chance to learn from decentralized governance ‘in the wild’ – a journey that we recently began ourselves.” – Ben Jones, Chief Scientist at Optimism Foundation
Balancer’s technological capabilities to slash gas costs, super-charge capital efficiency, and unlock arbitrage with zero-token starting capital paired with Optimism’s scaling solutions will help answer the demands of the fast-evolving DeFi environment.
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About Balancer Protocol
Balancer is a community-driven protocol, automated portfolio manager, liquidity provider, and price sensor that empowers decentralized exchange and the automated portfolio management of tokens on the Ethereum blockchain and other EVM compatible systems.
To learn more, please visit https://balancer.fi/.
About Beethoven X
Inspired by the work at BalancerLabs and built on the Balancer V2 technology, Beethoven X is a community-driven DEX and DeFi power house on the Fantom network. Beethoven X has taken the foundations laid down by Balancer and iterated on this powerful technology to become one of the leading Decentralised Exchanges on the Fantom ecosystem.
To learn more, please visit https://beets.fi/.
About Optimism
Optimism is a leading open-source Layer 2 scalability solution for the Ethereum network. Backed by top venture capital funds such as Paradigm and a16z for a total valuation of over $1.6 billion, the solution offers users lower gas fees and higher throughput compared to the Ethereum mainnet. With an estimated on-chain value of $600 million, Optimism is the third-largest Ethereum Layer 2 by TVL.
Contact:
Dan Edelstein
[email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/126242
Blockchain
Digital Payment Gateway Market Industry Trends and Opportunities 2030, with Competitor Analysis for PayPal, Stripe, Adyen, Worldpay, Razorpay Software, Mollie, BlueSnap, Klarna Bank and Dwolla
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Blockchain
Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users
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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.
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