Blockchain
peaq launches peaq verify, the DePIN data verification framework
peaq, the blockchain for real-world applications, unveils the first version of its data verification framework, which is already being adopted by two decentralized physical infrastructure networks (DePIN) in the peaq ecosystem — NATIX and Silencio. peaq’s DePIN data verification framework will be broken into three tiers. Tier-1 verification, which enables devices to cryptographically sign any data with its own private key for others to verify provenance, is already live on peaq’s Github. The second tier, currently in development, leverages machine learning to review patterns in the data reported by devices and flag the abnormal readings. Tier-3 verification brings the concept even further and taps a trusted oracle to cross-reference the data sourced by devices.
DePIN, a Web3 sector drawing all the eyes in the space, leverages thousands of community-owned devices to render real-world services. Whether it’s selling energy from solar panels or data from smart sensors, the process includes a lot of data exchanges — especially when data itself is the goods. It is thus crucial to verify that behind every datapoint is a real device that provides an actual service. In Web2, it would be baked-in controls and centralized platforms doing that, but in Web3, such verification is more of a challenge — so much so that it ended up on the Nakamoto Challenge by a16z.
At the core of the challenge is the fact that there is barely a solution to account for all possible use cases and scenarios when it comes to decentralized data verification. As an example, let’s consider a delivery truck with a cargo that’s supposed to be kept at a temperature below a certain level — a real use case shared by one of peaq’s enterprise partners. The temperature throughout the drive is usually measured with a sensor, which can collect the data and sign it with its private key. Sometimes, though, the driver would put chewing gum on the device to meddle with its readings and trick it into thinking the cargo is sufficiently cooled. In this scenario, the sensor will keep signing the data — but the records will be inaccurate. In this case, Tier-1 verification would sign the wrong data as authentic, but Tier-2 and Tier-3 verification is needed to recognize the anomalous data in the first place.
peaq’s framework for decentralized data verification includes three tiers, complimenting one another to make a robust system for trustless peer-to-peer data exchanges:
- Tier-1 verification enables devices that are capable of supporting it to sign the data using its own private key and store the verification on the peaq blockchain. Anyone can use the device’s public key to verify the cryptographic signature, confirming that the data has indeed been signed by the device and hadn’t been tampered with. This enables DePINs to source data from millions of devices from around the world while ensuring its integrity.
- Tier-2 verification leverages machine learning to seek out the patterns in the data and flag anomalies. It merges the blockchain and AI technologies, enabling the network to mark the data that fits into the pattern as tier-2 verified, adding another layer of security. This would help DePINs and their participants weed out anomalies and irregularities in their data flows, potentially spotting faulty hardware or malicious actors.
- Tier-3 verification includes a trusted oracle to cross-reference the data against. For example, a DePIN could set up a trusted sensor in a specific location to work as an oracle for temperature and humidity in the area and check the readings reported by community devices in the area. The data with an anomalous deviation wouldn’t be marked as Tier-3 verified, introducing an additional safeguard for the framework.
With the first release, Tier-1 verification is already available for projects within the peaq ecosystem to implement in their DePIN, both counting dozens of thousands of devices. The first two DePINs to get to work on integrating it are NATIX, a privacy-first company focused on AI and IoT real-world use cases, and Silencio, a community-powered network that rewards users for providing hyper-local noise pollution data. NATIX will implement the framework in its Drive& DePIN for AI-powered world-mapping, while Silencio will enable the sensors on its noise pollution measuring network to sign the data with their keys.
“peaq’s device data verification framework is a major boost for DePIN as it takes on one of the core challenges for the sector,” says Alireza Ghods, co-founder of NATIX Network. “It enables the devices on any given DePIN to act as providers of trusted data, making its easier to track the provenance of any data point to a specific device. It’s a nuanced and comprehensive system that embraces both security and the core Web3 values.”
“For many DePIN, data is both their lifeblood and their actual product, their value proposition,” says Theo Messerer, co-founder of Silencio Network. “Making sure that this data is verified, reliable, and trustworthy is thus an absolutely crucial condition for success — and peaq’s system enables builders to do just that, in a transparent way and with multiple layers and safeguards.”
“peaq’s approach to data verification offers builders a lot of versatility while being cryptographically-secure and reliable,” says Till Wendler, co-founder of peaq. “It’s inspiring to see its adoption among builders so early — that is the ultimate testimony proving how needed the feature was in the sector.”
The post peaq launches peaq verify, the DePIN data verification framework appeared first on HIPTHER Alerts.
Blockchain
Glidelogic Corp. Announces Revolutionary AI-Generated Content Copyright Protection Solution
Blockchain
Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them
The financial landscape is rapidly evolving, with the integration of blockchain technology and cryptocurrencies becoming more prominent. Among these, Ethereum ETFs (Exchange-Traded Funds) have emerged as a significant investment vehicle, offering exposure to the Ethereum blockchain’s native cryptocurrency, Ether (ETH), without requiring direct ownership. However, it’s crucial to understand that Ethereum ETFs are distinct from the blockchain itself and serve different purposes in the investment world.
Understanding Ethereum and ETFs
Ethereum: A decentralized platform that enables the creation and execution of smart contracts and decentralized applications (dApps). It operates using its cryptocurrency, Ether (ETH), which fuels the network.
ETF (Exchange-Traded Fund): A type of investment fund that holds a collection of assets and is traded on stock exchanges. ETFs can include various asset classes, such as stocks, commodities, or bonds.
Ethereum ETFs: The Intersection of Traditional Finance and Cryptocurrency
An Ethereum ETF provides a way for investors to gain exposure to the price movements of Ether without directly purchasing the cryptocurrency. This is achieved through an ETF structure, where the fund holds assets linked to the value of Ether, and investors can buy shares of the ETF on traditional stock exchanges.
Key Features of Ethereum ETFs:
- Indirect Exposure: Investors gain exposure to Ether’s price changes without needing to manage or store the cryptocurrency themselves.
- Regulatory Compliance: Unlike the relatively unregulated cryptocurrency market, ETFs operate under the oversight of financial regulators, offering a layer of investor protection.
- Accessibility: Ethereum ETFs are available through traditional brokerage platforms, making them accessible to a broader range of investors.
Why Invest in an Ethereum ETF?
- Diversification: Including an Ethereum ETF in a portfolio can provide exposure to the cryptocurrency market, potentially enhancing diversification beyond traditional assets.
- Convenience and Familiarity: ETFs are a familiar investment product, simplifying the process of investing in cryptocurrencies.
- Professional Management: ETF managers handle the investment decisions, including the buying and selling of assets, which can be advantageous for those less familiar with the cryptocurrency space.
- Regulatory Oversight: ETFs are subject to regulatory scrutiny, potentially offering more safety and transparency compared to direct cryptocurrency investments.
- Potential for Growth: As the cryptocurrency market grows, ETFs linked to assets like Ether may benefit from rising prices.
Key Differences Between Ethereum and Ethereum ETFs
While both are related to the Ethereum blockchain, Ethereum itself and Ethereum ETFs represent different forms of investment:
- Ethereum (ETH):
- Direct ownership of the cryptocurrency.
- Full exposure to Ethereum’s features, including staking and network participation.
- Traded on cryptocurrency exchanges.
- Highly volatile and largely unregulated.
- Ethereum ETF:
- Indirect exposure through shares representing Ether’s value.
- Traded on traditional stock exchanges under regulatory oversight.
- Offers a more stable and familiar investment structure.
- Typically lower volatility compared to direct cryptocurrency ownership.
Future Considerations for Ethereum ETFs
The approval and launch of Ethereum ETFs mark a significant milestone in bringing cryptocurrencies closer to mainstream finance. They offer a convenient and regulated means for investors to gain exposure to the growing digital assets market. However, they also come with limitations, such as not allowing direct participation in the Ethereum ecosystem’s innovations, like dApps and smart contracts.
As the market evolves, we may see more sophisticated financial products that better capture the full potential of the Ethereum ecosystem. For now, Ethereum ETFs provide a balanced option for those interested in cryptocurrency exposure within the framework of traditional finance.
In conclusion, while Ethereum ETFs offer a gateway into the world of digital assets, they should be viewed as complementary to, rather than a replacement for, direct investment in the underlying blockchain technologies. Investors should carefully consider their investment goals, risk tolerance, and the unique attributes of both Ethereum and Ethereum ETFs when making investment decisions.
Source: blockchainmagazine.net
The post Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them appeared first on HIPTHER Alerts.
Nexo, a leading institution in the digital assets industry, has reinforced its commitment to data security by renewing its SOC 2 Type 2 audit and attaining a new SOC 3 Type 2 assessment without any exceptions. This rigorous audit process, conducted by A-LIGN, a respected independent auditor specializing in security compliance, confirms Nexo’s adherence to stringent Trust Service Criteria for Security and Confidentiality.
Key Achievements and Certifications
- SOC 2 and SOC 3 Compliance:
- SOC 2 Type 2: This audit evaluates and reports on the effectiveness of an organization’s controls over data security, particularly focusing on the confidentiality, integrity, and availability of systems and data.
- SOC 3 Type 2: This public-facing report provides a summary of SOC 2 findings, offering assurance to customers and stakeholders about the robustness of Nexo’s data security practices.
- Additional Trust Service Criteria:
- Nexo expanded the scope of these audits to include Confidentiality, showcasing a deep commitment to protecting user data.
- Security Certifications:
- The company also adheres to the CCSS Level 3 Cryptocurrency Security Standard, and holds ISO 27001, ISO 27017, and ISO 27018 certifications, awarded by RINA. These certifications are benchmarks for security management and data privacy.
- CSA STAR Level 1 Certification:
- This certification demonstrates Nexo’s adherence to best practices in cloud security, further solidifying its position as a trusted partner in the digital assets sector.
Impact on Customers and Industry Standards
Nexo’s rigorous approach to data protection and compliance sets a high standard in the digital assets industry. By achieving these certifications, Nexo provides its over 7 million users across more than 200 jurisdictions with confidence in the security of their data. These achievements not only emphasize the company’s dedication to maintaining top-tier security standards but also highlight its proactive stance in fostering trust and transparency in digital asset management.
Nexo’s Broader Mission
As a premier institution for digital assets, Nexo offers a comprehensive suite of services, including advanced trading solutions, liquidity aggregation, and tax-efficient credit lines backed by digital assets. Since its inception, the company has processed over $130 billion, showcasing its significant impact and reliability in the global market.
In summary, Nexo’s successful completion of SOC 2 and SOC 3 audits, along with its comprehensive suite of certifications, underscores its commitment to the highest standards of data security and operational integrity. This dedication positions Nexo as a leader in the digital assets space, offering unparalleled security and peace of mind to its users.
Source: blockchainreporter.net
The post Nexo Reaffirms Commitment to Data Protection with SOC 3 and SOC 2 Compliance appeared first on HIPTHER Alerts.
-
Blockchain4 days agoBinance Cleared to Invest Customer Assets in US Treasury Bills: What It Means for Crypto and Dollar Dominance
-
Blockchain4 days ago
Deep Custodian Limited Obtains Hong Kong TCSP License, Authorized to Provide Compliant Crypto Asset Custody Services
-
Blockchain2 days ago
Blockchain Intelligence Group adds additional modules and launches its Certified Cryptocurrency Investigator – Advanced Series
-
Blockchain Press Releases2 days agoBybit Web3 Livestream Explores Cultural Meme Coins and Other Trends
-
Blockchain3 days agoBitAngels Network Hosts Blockchain Pitch Competition in Nashville
-
Blockchain Press Releases2 days agoBybit Surges to Second Place in Derivatives Market, Solidifying Position as Global Crypto Trading Leader
-
Blockchain4 days agoCoinW Continues Expedition Trek And Double Down On Presence At ETH-Native Events
-
Blockchain5 days agoWOO X and OpenTrade Enhance RWA Earn Vaults with Flexible Withdrawals
