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POKT Network expands access to blockchain data with launch of three new gateways

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POKT Network has expanded its decentralized infrastructure by launching three new Gateways in partnership with Developer DAO, Porters (backed by Raid Guild), and Chainstack.

The latest development aims to offer developers enhanced access to over 60 blockchains, reinforcing POKT Network’s strategy to extend API accessibility across the web through its Universal RPC Base Layer.

According to a press release shared with Crypto.news, the addition of these Gateways represents a pivotal development for POKT Network and its ecosystem to offer dependable and cost-efficient data access solutions, aiding developers and enterprises in enhancing application quality and user experience.

Dermot O’Riordan, Director at the POKT Network Foundation, stated that these Gateways are akin to Layer 2 solutions in terms of improving scalability, enabling builders to connect directly to a scalable and reliable decentralized infrastructure.

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“By accommodating access and demand on a scale previously unseen, we’re not just expanding the capabilities of our network, we’re laying the groundwork for a future where access to any large open data source is unfettered, secure, and universally available,” Riordan added.

Gateways allow a wide range of businesses to offer access to POKT Network’s infrastructure without the need for direct maintenance, promoting a decentralized business model. The structure aims to lower market entry times, reduce operational costs, and shift focus towards customer service enhancements.

Since its inception, POKT Network has rapidly expanded its Gateway offerings, growing from a single Gateway to six in just seven months, reflecting a strategic push to improve network capacity.

Daniel Olshansky, Head of Protocol at POKT Network, explained that the strategy allows for a division of responsibilities: protocol participants focus on infrastructure maintenance, Gateways on performance, and users gain access to reliable and affordable services.

The collaboration with Developer DAO, Porters, and Chainstack is notable for its potential to drive network growth and innovation. Developer DAO, for instance, aims to reinvest RPC revenues into public goods, highlighting a model where technological advancements serve the common good. Porters and Chainstack, on the other hand, bring technical expertise and significant volume potential to the partnership.

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Looking forward, POKT Network is preparing for the Shannon Upgrade in the summer of 2024. The upgrade aims to simplify integration for RPC providers and projects, easing access to data across different blockchains and AI. The upgrade is expected to support a broader range of use cases and encourage collaboration within the decentralized data infrastructure space.

Source: crypto.news

The post POKT Network expands access to blockchain data with launch of three new gateways appeared first on HIPTHER Alerts.

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Blockchain

LCT Secures VARA In-Principle Approval, Defining Its Role in Dubai’s Crypto Landscape

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Blockchain

Bybit One-Click Buy Offers a Winning Chance in First-Time Deposits Lucky Draws

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Blockchain

Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)

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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.

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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.

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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

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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:

  1. Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
  2. Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
  3. Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
  4. Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
  5. 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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