Blockchain
0G introduces Newton Testnet for modular AI blockchain development
Web3 infrastructure specialist 0G Labs has launched the test phase of its new blockchain project, 0G, which is designed to improve data throughput capabilities for on-chain artificial intelligence (AI) applications.
The testnet is now open to node operators, developers, and the broader community, and serves as a precursor to the planned mainnet launch in the third quarter of 2024.
Dubbed ZeroGravity, 0G addresses the critical challenges that blockchain technology faces when integrated with AI—mainly, the data and execution requirements that exceed current capabilities by a wide margin. The modular nature of the 0G blockchain allows for a streamlined network that avoids the limitations of traditional consensus algorithms and provides scalable solutions without compromising on performance.
“The public launch of our testnet marks the first stage of bringing AI on-chain, which will combine two of the most exciting technologies that emerged in the past decade. Our team has worked diligently over the past months to deliver our vision of the ultra-scalable modular blockchain, and we’re really excited to see the feedback from the community of users and developers,” said Michael Heinrich, CEO of 0G Labs.
The development comes at a time when the demand for on-chain AI is increasing, driven by its potential to offer more reliable and neutral platforms for training and executing neural networks. A report by consultancy firm KPMG highlights the growing interest among global corporate executives in AI as a key technological advancement poised to impact future business operations. Despite the opportunities, concerns regarding intellectual property, data privacy, regulatory uncertainties, and biases in AI models persist.
0G’s blockchain infrastructure proposes a decentralized approach to AI to democratize access to the technology and upgrade data security by distributing it across multiple nodes. This method not only protects sensitive information but also ensures a fair distribution of rewards among contributors of data, models, and computational resources.
Moreover, by leveraging distributed ledger and cryptographic technologies, 0G provides transparent mechanisms to differentiate between authentic data and manipulated content, such as deepfakes.
Existing blockchain solutions have been inadequate for large-scale on-chain AI deployments, which is why 0G is providing infrastructure capable of supporting massive data throughput rates. With benchmarks indicating data throughput capabilities of over 50 Gbps—a stark contrast to the 1.5 Mbps offered by current Ethereum-based scaling solutions—0G improves performance and scalability.
The launch of the 0G testnet follows the closure of a $35 million pre-seed funding round by 0G Labs, which was well above its initial $5 million target. The funding round attracted support from key investors in the Web3 space, including Hack VC, Bankless, and Polygon, among others.
Source: investing.com
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
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.
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.
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
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:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- 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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