Blockchain
Luxury brand blockchain platform Arianee aims to scale, launches L2 on Polygon
![luxury-brand-blockchain-platform-arianee-aims-to-scale,-launches-l2-on-polygon](https://theblockchainexaminer.com/wp-content/uploads/2024/02/49652-luxury-brand-blockchain-platform-arianee-aims-to-scale-launches-l2-on-polygon.png)
Arianee has launched a Polygon CDK-powered layer 2 to issue and manage digital product passports for various luxury brands and companies.
Luxury brand blockchain infrastructure provider Arianee has developed a new layer 2 built on Polygon to scale its digital product passport platform used by various luxury brands and companies.
Arianee has been developing the optimized layer 2 since early 2023, using Polygon’s zero-knowledge proof (ZK-proof)-powered Chain Development Kit (CDK). Arianee co-founder and CEO Pierre-Nicolas Hurstel spoke to Cointelegraph about its reengineered infrastructure, allowing brands and developers to design highly customizable, cost-effective and performant digital passports and tokens linked to real-world products and assets.
“We exclusively build on EVM [Ethereum Virtual Machine], catering to enterprise and scalable use cases. When striving to deliver a service that operates seamlessly, universally and with predictable costs, it remains hard and risky to build on L1 or even on Polygon mainnet,” Hurstel explains.
The Arianee CEO said the company is focused on supporting brands engaged in scalable, high-performance and evolutive projects, which “demand an environment allowing precise control over efficiency in terms of both costs and energy consumption.”
Arianee’s native protocol token will be used for payments within the Polygon CDK application-specific chain (appchain), which is bridged to the Aria20 ERC-20 token on the Ethereum mainnet. Launching the layer-2 appchain will allow brands to launch and manage their digital product passport and loyalty tokens.
Arianee is currently the infrastructure provider to more than 40 brands, including Breitling, Moncler, Yves Saint Laurent and Lacoste. Luxury watch brands like Breitling issue digital product passports on the protocol to give owners blockchain-based proof of ownership.
These digital passports are nonfungible tokens (NFTs) that provide customizable utility for their real-world counterparts. Owners own and control their data and can interact with manufacturers to organize and manage product repairs, warranties, insurance and other services.
Polygon’s CDK is expected to deliver increased scalability and performance driven by ZK-proof technology. Brands using Ethereum’s ERC-721 token standard to issue NFTs and digital passports can also integrate existing infrastructure to Arianee’s protocol using the Polygon CDK.
Another drawcard of the new layer-2 functionality is the provision of block space dedicated to individual applications on the protocol. This is touted to reduce the impact on user experience as a result of high network activity. Polygon’s scaling infrastructure also reduces the operational costs of applications and services associated with gas fees and smart contract execution.
Polygon released a new Type 1 prover in February, allowing ecosystem chains like optimistic rollups to unlock ZK-proofs’ layer-2 functionality. The open-source technology unlocks the ability to generate ZK-proofs for mainnet Ethereum blocks at near-zero cost.
Source: CoinTelegraph
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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
![ethereum-etfs-aren’t-blockchain-but-is-a-revolutionary-tech:-top-6-amazing-reasons-to-invest-in-them](https://theblockchainexaminer.com/wp-content/uploads/2024/07/51834-ethereum-etfs-arent-blockchain-but-is-a-revolutionary-tech-top-6-amazing-reasons-to-invest-in-them.png)
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.
Blockchain
Nexo Reaffirms Commitment to Data Protection with SOC 3 and SOC 2 Compliance
![nexo-reaffirms-commitment-to-data-protection-with-soc-3-and-soc-2-compliance](https://theblockchainexaminer.com/wp-content/uploads/2024/07/51836-nexo-reaffirms-commitment-to-data-protection-with-soc-3-and-soc-2-compliance.png)
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
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