Blockchain
charge.xyz joins peaq to build a community-powered P2P electric vehicle charging platform
peaq, the layer-1 blockchain for DePIN and Machine RWAs (real-world assets), announces the expansion of its ecosystem as charge.xyz joins in. charge.xyz is building a DePIN enabling global peer-2-peer charging via community-owned electric vehicle chargers. The project has already completed the proof-of-concept version of its dApp and is now preparing for a mobile release that will feature initial core functionalities to onboard users. A full-on integration with peaq leveraging peaq’s Modular DePIN Functions and other DePIN-focused benefits will follow later in the year.
While electric vehicles are growing more popular, their adoption is not without hurdles. The lack of supporting infrastructure, especially compatible charging points, is one such challenge — to the point where concerns about charger availability deters people from buying electric vehicles. Millions of existing residential and privately-owned electric vehicle chargers could greatly expand the availability of charging and boost electric vehicle adoption without any investment needed.
charge.xyz works to close this gap by enabling charger owners to offer their charging points to the public, selling charging sessions to those in need. After joining its DePIN, wallbox (charging point) owners will be able to customize the availability of their chargers in line with their needs, set their price rates, and review the charger’s use logs.
charge.xyz is tapping peaq as its layer-1 blockchain and will leverage its Modular DePIN Functions as part of its core architecture and business logic. It will leverage peaq IDs as the identity standard for the DePIN, build the smart contracts powering the key interactions within its network on peaq, and use peaq as its payments and data storage layer. It is also exploring prospective synergies and partnerships within peaq’s ecosystem of more than 25 DePINs and world-leading enterprise partners.
At the current stage, the project is working on a mobile app which will enable people to register their chargers and electric vehicles on its DePIN. The app’s other features will include the ability to register historic charging sessions and write reviews to chargers, making for an open and transparent P2P-marketplace. More community-facing initiatives are also on their way.
“The fragmentation of the charging infrastructure landscape and existing players in the market playing the zero sum game are the biggest hurdles for the adoption of the global EV-revolution and a greener mobility paradigm,” says Dominic Klopsch, co-founder of charge.xyz.
“charge.xyz is addressing this challenge while also empowering anyone to be part of the push for a more sustainable future. peaq is the perfect layer-1 for this, as no other blockchain delivers such powerful fundamentals as well as a vast set of DePIN-specific functions. We look forward to building and launching on peaq and see unlimited potential synergies within its wide ecosystem of DePINs and top enterprises,” adds Fabian Poehler, co-founder at charge.xyz.
“One thing is certain: decentralized charging will lead to greater acceptance of electric cars,” says Leonard Dorlöchter, co-founder of peaq. “Decentralized charging is probably one of the most straightforward machine economy use cases. It will greatly reduce fragmentation of charging infrastructure and solve a fundamental issue for electric vehicle adoption — charger availability. We’re excited to see charge.xyz take on this important mission, choosing peaq as its layer-1, and are certain that the benefits to the peaqosystem and end-users are immense.”
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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
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
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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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