Connect with us
MARE BALTICUM Gaming & TECH Summit 2024

Blockchain

Cryptocurrency 2024: All You Need to Know About the Trends and Regulatory Updates

Published

on

cryptocurrency-2024:-all-you-need-to-know-about-the-trends-and-regulatory-updates

 

With each passing year, the cryptocurrency landscape becomes more dynamic, as new trends emerge and regulatory frameworks adapt to keep pace with the industry. What updates are waiting for us in 2024? Let’s delve in.

One of the most intriguing intersections in the crypto world is the integration of artificial intelligence with blockchain technology. AI has the potential to enhance security, optimize transactions, and streamline processes within blockchain networks. By leveraging AI algorithms for data analysis and automation, blockchain systems can become more efficient, resilient, and adaptive to evolving market demands.

However, one pervasive challenge that hinders AI development is the high cost and resource consumption associated with its development. Fortunately, the emergence of blockchain technology has the potential to tackle this issue head-on through its inherent decentralization. By leveraging blockchain technology, several crucial advantages can be realized.

Advertisement
Stake.com

Firstly, the immutability of blocks ensures heightened security, an essential factor when dealing with sensitive and confidential data. Additionally, blockchain technology enables the verification of the source of data, ensuring authenticity and reducing the risk of tampering or manipulation. Moreover, the distributed computing power offered by blockchain allows for calculating complex models without requiring substantial investments in expensive infrastructure. This significantly reduces costs associated with AI development, making it more accessible to a broader range of innovators and organizations. Besides, the blockchain’s ability to provide monetization opportunities for the results obtained makes it an attractive prospect for individuals and companies seeking to leverage AI technology for profit. All that allows to solve the challenges of cost and resource consumption, facilitating a leap forward in advancing AI

Securing access control

In 2024 we will see the development of DePIN technology. This is majorly predetermined by the need for access to expensive computing power AI technologies often require. Decentralized physical infrastructure networks address this challenge by providing a decentralized and cost-effective alternative. Since DePIN technology enables the sharing of computing power and resources across a network of decentralized nodes, it gives the potential to accelerate the development of AI and other advanced technologies, making them more accessible to a broader range of industries and use cases. Besides, it can be applied more broadly to address critical infrastructure gaps in various contexts, such as providing access to healthcare and education in underdeveloped regions.

Zero-knowledge Proof and Increased Confidentiality

The emergence of Zero-Knowledge Proof (ZKp) technology keeps revolutionizing data security and confidentiality in projects built on blockchain technology. ZKp allows for the verification of data accuracy without the need to disclose the actual data itself, ensuring heightened privacy and protection. This breakthrough has addressed a crucial parameter in data security, which has historically been a significant concern for individuals and organizations. In 2023, we could witness many newly built projects utilizing ZK technology. Looking ahead, 2024 is expected to witness further advancements.

Advertisement
Stake.com

Beyond its implications for the speed and cost of transactions on Layer 1 networks like Ethereum, ZK-Rollup technology, which combines multiple transactions into a single packet off-chain while confirming authenticity using ZK technology, has broader applications in the real world. One notable application is in the secure transfer and storage of personal data. With ZKp technology, individuals and organizations can securely transfer sensitive information without exposing its essence. This has significant relevance in fields such as medicine, where patient data needs to be confidentially transferred between healthcare providers, ensuring privacy and complying with data protection regulations. Additionally, ZKp can play a crucial role in the banking industry and government services where personal financial information can be securely shared for verification purposes without compromising privacy.Furthermore, ZKp can be leveraged in supply chain management to ensure the integrity and transparency of the entire supply chain process, from sourcing raw materials to delivering finished products.

The synergy between Optimism and Zero-Knowledge technologies has the potential to optimize a wide range of real-world problems and tasks through the integration of blockchain solutions. For instance, optimism, a layer 2 scaling solution for Ethereum, is designed to enhance transaction throughput and reduce fees on the blockchain. The combination becomes even more powerful by leveraging ZK technology, which ensures data privacy and integrity.

This collaboration opens up numerous possibilities for optimization in industries such as supply chain management, finance, healthcare, and more. For example, Optimism + ZK can streamline and secure supply chain processes by providing immutable and auditable records of every step in the chain while guaranteeing data confidentiality. This combination can revolutionize payment systems in the financial sector, enabling fast and secure transactions while protecting sensitive user information. Furthermore, Optimism + ZK can facilitate the secure and transparent sharing of patient data between healthcare providers, enhancing collaboration and improving patient outcomes.

IoT Adoption, Gaming and further Blockchain integration

The Internet of Things is revolutionizing the way we interact with technology, and its integration with blockchain is poised to further enhance data security and interoperability. By leveraging blockchain’s decentralized, tamper-proof ledger for IoT data storage and management, organizations can ensure the integrity and authenticity of IoT-generated data.

Advertisement
Stake.com

Meanwhile, when it comes to the gaming industry, the integration of blockchain technology into the gaming industry is opening up new possibilities for decentralized gaming platforms, in-game asset ownership, and secure transactions. Blockchain-based gaming platforms offer players increased transparency, immutability, and ownership of digital assets, creating new avenues for monetization and player engagement. With blockchain powering the gaming industry, we can anticipate a more secure, transparent, and immersive gaming experience for players worldwide.

To conclude, this year if going to be transformative for the cryptocurrency industry. The trends illustrate the growing mainstream acceptance of cryptocurrencies. The potential for innovation and growth in the crypto space is vast, and 2024 promises to be a pivotal year in the evolution of blockchain technology and its applications.

Mike Romanenko

CVO, Co-Founder of https://kyrrex.com/

Mike, who has more than a decade of experience in investment and financial regulation, is a co-founder of Kyrrex. Besides, Mike holds key roles at Unicorn Factory Ventures and Vireye Game Studios, championing web3 and gaming innovations. Often featured in podcasts and panels, he’s a recognized authority in the crypto domain.

About Kyrrex
Kyrrex is a regulated crypto ecosystem that provides a one-stop shop for bridging finance, payment, and trading operations with cryptocurrency on a single platform. Kyrrex is registered in Saint Vincent and the Grenadines, and its operations have been acknowledged and accepted by the SVG Financial Services Authority to provide regulated crypto services with the goal of giving clients the flexibility to carry out all their crypto transactions under one roof.

Advertisement
Stake.com

Kyrrex has obtained the Malta VFA Class 4 License in 2021. Applying for such a license requires the applicant to demonstrate a deep understanding of the regulatory framework, provide detailed business plans, ensure compliance with the relevant AML regulations, and establish internal security measures.

Also, Kyrrex actively cooperates with sports industry. Kyrrex takes pride in its exceptional roster of sports ambassadors representing its values and shared passion for the crypto industry. In the realm of MotoGP, Kyrrex proudly boasts ambassadors such as Jorge Martin, Aleix Espargaro, and Pedro Acosta, all of whom showcase their extraordinary skills and determination on the racing track. Additionally, Kyrrex extends its support to the padel sport with ambassadors like Arturo Coello, Martin Di Nenno, Paula Josemaria Martin, and Marta (Martita) Ortega.

The post Cryptocurrency 2024: All You Need to Know About the Trends and Regulatory Updates appeared first on HIPTHER Alerts.

Continue Reading

Blockchain

New seed-stage VC fund from Finland secures €6 million in initial close for €30 million blockchain fund

Published

on

new-seed-stage-vc-fund-from-finland-secures-e6-million-in-initial-close-for-e30-million-blockchain-fund

Helsinki-based Equilibrium Ventures (EQV), a new seed-stage venture capital fund focused on the crypto sector, has successfully closed the first round of its €30 million fund, raising €6 million from limited partners (LPs). This milestone highlights growing interest in blockchain startups and a promising future for the European crypto ecosystem.

The fund is led by an experienced team of partners: Mika Honkasalo, Henrik Sundvik (formerly of Bain & Company), and Christopher Ahn (ex-Molten Ventures investor). Equilibrium Ventures aims to attract and support founders with deep technical expertise in blockchain technologies, covering areas such as zero-knowledge proofs and smart contracts, essential for developing advanced blockchain solutions.

Equilibrium Ventures has attracted a diverse group of backers, including strategic investors, family offices, and notable LPs like Sebastien Borget, co-founder of the metaverse platform The Sandbox. This support underscores the fund’s credibility and signals growing confidence in crypto investments despite recent market challenges.

Dedicated to crypto infrastructure, Equilibrium Ventures emphasizes rigorous technical due diligence and value addition for pre-seed and seed engineering firms. With a network of about 70 blockchain engineers, mainly based in Europe, the fund is well-positioned to help startups develop robust blockchain technologies.

Advertisement
Stake.com

The renewed interest in venture capital investment in blockchain, bolstered by evolving regulatory landscapes in the US and Europe, is expected to increase investor confidence in the crypto sector. Equilibrium Ventures, with its technical expertise and strategic support, is poised to become a significant player in Europe’s crypto venture scene.

Looking ahead, Equilibrium Ventures aims for a second close by the end of this summer, targeting 80% of the total fund. This progress indicates strong momentum and the potential for significant contributions to the European blockchain ecosystem.

Source: arcticstartup.com

The post New seed-stage VC fund from Finland secures €6 million in initial close for €30 million blockchain fund appeared first on HIPTHER Alerts.

Advertisement
Stake.com
Continue Reading

Blockchain

Riot Platforms Acquires 14% Stake in Bitfarms Ltd.

Published

on

riot-platforms-acquires-14%-stake-in-bitfarms-ltd.

Riot Platforms, Inc. has announced its acquisition of a 14% stake in Bitfarms Ltd., as detailed in a recent press release by Riot Platforms. This move aligns with Riot’s strategy to influence corporate governance within Bitfarms.

Acquisition Details

On June 13, 2024, Riot Platforms purchased 1,432,063 common shares of Bitfarms Ltd., representing about 0.35% of Bitfarms’ issued and outstanding common shares. The shares were bought on the Nasdaq Stock Market and other open markets at an average price of approximately $2.70 per share, totaling $3,870,293.46.

Before this acquisition, Riot held 56,194,973 common shares of Bitfarms, equating to 13.65% ownership. With the new shares, Riot now holds 57,627,036 common shares, resulting in a 14% stake in Bitfarms.

Advertisement
Stake.com

Strategic Intentions

Riot Platforms intends to call a special meeting of Bitfarms’ shareholders to nominate several independent directors to the board, citing concerns over Bitfarms’ corporate governance. Riot seeks to influence Bitfarms’ strategic direction and enhance its governance standards.

Riot is continuously reviewing its investment in Bitfarms and may adjust its position based on factors such as market conditions and the company’s financial status. Potential actions include increasing or decreasing its stake, entering into hedging transactions, or proposing additional strategic measures.

Forward-Looking Statements

The press release includes forward-looking statements subject to risks and uncertainties, reflecting Riot’s current expectations and assumptions. Riot cautions investors to consider these risks before making investment decisions.

Advertisement
Stake.com

Riot’s vision is to become the leading Bitcoin-driven infrastructure platform, focusing on a vertically integrated strategy with Bitcoin mining operations in Texas and electrical switchgear engineering in Colorado.

Source: blockchain.news

The post Riot Platforms Acquires 14% Stake in Bitfarms Ltd. appeared first on HIPTHER Alerts.

Continue Reading

Blockchain

Manta Foundation Unveils $50M EcoFund to Foster Blockchain Innovation

Published

on

manta-foundation-unveils-$50m-ecofund-to-foster-blockchain-innovation

The Manta Foundation has launched its $50 million EcoFund to build a robust ecosystem for leading blockchain projects, as per Manta Network. This initiative demonstrates the foundation’s commitment to funding opportunities and developer support for innovative blockchain ventures.

Funding and Support Opportunities
Starting June 15th, the one-year EcoFund will offer significant financial support through its Ecosystem Grant Program, which provides early-stage projects with grants of up to $50,000. This initial funding is crucial for bringing innovative ideas to life.

Additionally, the EcoFund dedicates $35 million for direct investments in promising projects on the Manta Network. These strategic investments aim to foster high-growth ventures that align with Manta Network’s long-term objectives, promoting a collaborative and mutually beneficial environment.

Diverse Project Focus
The Manta Foundation supports a broad range of projects across sectors such as DeFi, Gaming, NFTs, and more. These initiatives are chosen for their potential to drive consumer adoption and significantly enhance the Manta Network ecosystem.

Advertisement
Stake.com

Applications for the EcoFund are accepted on a rolling basis, ensuring ongoing funding and support opportunities. The foundation prioritizes projects with robust business models and scalability, aiming to ensure the ecosystem’s financial health and sustainability.

Specialized Funding Categories

In addition to general grants, the EcoFund targets specific high-growth areas:

– AI/DePIN: Focused on using AI and Decentralized Physical Infrastructure Networks for sustainable solutions.
– Zero-Knowledge: Investments in zero-knowledge technology to boost privacy and security in the blockchain space.
– Memecoins: The Moon Mission Grant supports the development and growth of meme projects on Manta Pacific, fostering a vibrant memecoin culture.

Events and Hackathons
To further enrich the ecosystem, the Manta Foundation has allocated $5 million for online and offline events and hackathons. These events aim to attract new developers and users, fostering a culture of innovation and collaboration within the Manta Network community.

Advertisement
Stake.com

Source: blockchain.news

The post Manta Foundation Unveils $50M EcoFund to Foster Blockchain Innovation appeared first on HIPTHER Alerts.

Continue Reading
Advertisement
Stake.com
Advertisement

Latest News

Recent Listings

  • Global Payout, Inc.

    Since the Company’s inception in 2009, Global Payout, Inc. has been a leading provider of compreh...

  • MTrac Tech Corp.

    MTrac Tech Corporation, a Nevada Corporation, is a privately held, wholly owned subsidiary of Glo...

  • Net1

    Net1 is a leading provider of transaction processing services, financial inclusion products ...

  • uBUCK Technologies SEZC

    Based in Georgetown, Cayman Islands, uBUCK Tech is a fintech enterprise that specializes in digit...

  • LiteLink Technologies Inc.

      LiteLink is a major player in developing world-class enterprise platforms that utilize ar...

  • Good Gamer Corp.

      Good Gamer Corp. is a privately-held technology company focusing on gamers and streamers....

  • BitPay

      Founded in 2011, BitPay pioneered blockchain payment processing with the mission of trans...

  • About Net1

      Net1 is a leading provider of transaction processing services, financial inclusion produc...

  • Blockchain Foundry Inc.

    Headquartered in Toronto, Canada, Blockchain Foundry (CSE:BCFN)(FWB:8BF)(OTC:BLFDF) is a global b...

  • Sixgill

    Sixgill provides a full suite of universal data automation and authenticity products and services...

Trending on TBE