Blockchain
EU Premiere: Web3 Decentralized Domains and Institutional NFT Marketplace Under Development by Romania’s ICI Bucharest Using Elrond Network Blockchain Technology
Bucharest, Romania–(Newsfile Corp. – June 14, 2022) – Romania’s National Institute for Research and Development In Informatics – ICI Bucharest (ICI) announces that work is underway for building an institutional NFT marketplace and a decentralized Domain Name System (DNS/TLD) based on the highly scalable and carbon-negative Elrond Network blockchain.
Both initiatives are the first of their kind in the European Union and are being developed in parallel by experts from Romania’s ICI Bucharest in collaboration with Elrond Network developers.
“The goal is to evolve the collaboration between citizens and institutions using a modern digital framework. Web3 technologies can transform public administration and help its institutions and processes leap forward in terms of efficiency and speed, while decreasing costs, overhead and excessive bureaucratic activities,” said Adrian Victor Vevera, General Director of ICI Bucharest.
The National System for Issuers and Digital Assets will be the first of its kind in Romania and likely the European Union. It is being created as a public – institutional marketplace for digital assets that will use blockchain-based Decentralized Identity and Non-Fungible Token (NFT) technology to digitize, access, transfer and store official documents, property deeds or various certificates.
In their cryptographically secured format, the documents will retain their validity and utility, while circulating at higher speeds, reduced costs and increased security. This standardized format will simplify the integration with new systems and act as a facilitator for the full digital transformation of public administration and governance.
ICI is also looking to leverage the scalable Elrond Network to build a decentralized Domain Name System (DNS) and Top-Level Domains (TLD).
By deploying this essential layer to digital communication on top of Elrond’s 3200 validators network, ICI is looking to strengthen the security and availability of critical public resources by overcoming the limitations of the legacy DNS and TLD systems, as well as the potential existing vulnerabilities of the actual centralized architecture.
“The intersection of governance and technology creates a universe of opportunities for advancing society. It is the right time to take the initiative along with our partners from ICI and embed Elrond Web3 innovations into the next generation of national and institutional frameworks,” said Beniamin Mincu, Elrond Network CEO.
About the National Institute for Research and Development in Informatics – ICI Bucharest
ICI Bucharest was founded in 1970 and is the most important institute in the field of Research, Development and Innovation in Information and Communication Technology (ICT) in Romania, supervising the Romanian National Register for Domain Names – RoTLD – the official authority that manages the .RO Top Level Domains by creating, implementing and maintaining the software systems, databases and infrastructure necessary for the .ro to be existent on the Internet.
The long activity of ICI Bucharest is signified by the realization of Research and Development projects in the field of IT&C, supporting the development of the national information society. ICI Bucharest’s mission is to aggregate excellence in research and innovation, for the development of the knowledge-based economy in Romania and for a better integration in the European and international research space.
About Elrond
Elrond is a new blockchain architecture, designed from scratch to bring a 1000-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 15,000 transactions per second (TPS), with 6-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.
Contact for Elrond & ICI Bucharest
MarketAcross PR
[email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/127654
According to a report from CoinTelegraph, nearly forty percent of institutional investors in Canada have exposure to cryptocurrency, as revealed by KPMG. This finding underscores the growing acceptance and adoption of digital assets among institutional investors in the country.
The report indicates that a significant portion of institutional investors in Canada are actively investing in or exploring opportunities in the cryptocurrency market. This trend reflects a shift in sentiment towards digital assets, with more investors recognizing the potential for long-term growth and diversification offered by cryptocurrencies.
KPMG’s findings highlight the increasing mainstream acceptance of cryptocurrencies among traditional investors, as well as the growing interest in blockchain technology and its potential applications across various industries. As institutional investors continue to enter the cryptocurrency market, they are expected to bring additional capital and liquidity, further fueling the growth and maturation of the digital asset ecosystem.
Overall, KPMG’s report signals a significant milestone in the adoption of cryptocurrencies in Canada, indicating that institutional investors are increasingly recognizing the value proposition of digital assets and integrating them into their investment portfolios. This trend is likely to accelerate the broader adoption and mainstream acceptance of cryptocurrencies in the country and beyond.
Source: cointelegraph.com
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Blockchain
BounceBit (BB) Megadrop Now Open: Participate by Subscribing to BNB Locked Products or Completing Web3 Quests
The BounceBit (BB) Megadrop is now open for participation, as announced by Blockchain.News. This event presents an exciting opportunity for users to earn BB tokens by engaging in various activities, including subscribing to BNB locked products and completing Web3 quests.
Participants can join the BB Megadrop by subscribing to BNB locked products or completing Web3 quests, both of which offer different avenues for earning BB tokens. By participating in these activities, users have the chance to accumulate BB tokens and potentially benefit from the rewards associated with the Megadrop.
Subscribing to BNB locked products allows users to earn BB tokens by locking their BNB assets for a specified period. This not only provides users with an opportunity to earn rewards but also contributes to the liquidity and stability of the BounceBit ecosystem.
Additionally, completing Web3 quests offers users an alternative way to earn BB tokens by engaging in various tasks and challenges related to Web3 technology. These quests provide users with a fun and interactive way to learn about blockchain and cryptocurrency while earning rewards in the form of BB tokens.
Overall, the BB Megadrop presents an exciting opportunity for users to participate in the BounceBit ecosystem and earn rewards by engaging in activities that contribute to the growth and development of the platform. As the Megadrop progresses, participants can look forward to additional opportunities to earn BB tokens and potentially benefit from the rewards associated with this event.
Source: blockchain.news
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Cronos, a prominent blockchain platform, has announced a collaboration with KYVE aimed at revolutionizing blockchain data, as reported by CryptoNewsZ. This partnership represents a significant step forward in enhancing the efficiency and scalability of blockchain data storage and retrieval.
The collaboration between Cronos and KYVE seeks to leverage KYVE’s decentralized data storage and retrieval solution to enhance the capabilities of the Cronos blockchain platform. By integrating KYVE’s technology, Cronos aims to address the challenges associated with storing and accessing large volumes of data on the blockchain, such as scalability and cost-effectiveness.
KYVE’s decentralized data storage solution utilizes a network of distributed nodes to store and retrieve data, ensuring high availability and reliability. This approach not only improves the efficiency of data storage and retrieval but also enhances the security and resilience of the blockchain network.
The partnership between Cronos and KYVE is expected to unlock new possibilities for decentralized applications (dApps) and smart contracts built on the Cronos platform. By providing a more efficient and scalable solution for blockchain data management, Cronos aims to attract developers and enterprises seeking to leverage blockchain technology for a wide range of applications.
Overall, the collaboration between Cronos and KYVE represents a significant development in the blockchain industry, highlighting the importance of innovation and collaboration in driving the evolution of decentralized technologies. As the partnership progresses, it is poised to deliver transformative benefits for blockchain data management and accelerate the adoption of decentralized applications and services.
Source: cryptonewsz.com
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