Blockchain
DATS Project joins peaq to build a community-powered cybersecurity network
peaq, the layer-1 blockchain for DePIN and Machine RWAs (real-world assets), announces the expansion of its ecosystem as DATS Project joins to decentralize the cybersecurity industry. DATS Project is building a DePIN of more than 1,000 computers pooling together their resources, including computational power and bandwidth, to create a decentralized cybersecurity engine. As its participants earn rewards for providing their resources, DATS Project renders a variety of security-focused services to Web3 and Web2 clients, including simulated attacks, vulnerability scans, and more. As part of the integration with peaq, DATS Project will bring its DePIN on the network and launch its token natively on peaq.
The cybersecurity market is expected to surpass 424 billion by 2030 as connected devices become evermore ubiquitous in business and personal life. However, centralized cybersecurity services often lack the computational power that hackers bring to the table and do not provide enough transparency, which ultimately results in suboptimal security for companies and private users alike.
DATS Project is building a software ecosystem that enables anyone to join its DePIN for cybersecurity services and earn rewards for helping make the Web safer. At the current stage, its DePIN counts 1,184 computers, with 7,562 CPU cores across those and a combined bandwidth of 48,008 megabits per second. Open for anyone to join by installing the DATS desktop app, it can potentially scale to surpass the capabilities of the world’s largest botnets run by professional hackers. DATS Project already has 14 clients, including projects in AI, energy, commodities, cybersecurity, Web3 gaming, business payments, VR, and more.
The DePIN can simulate a variety of distributed denial of service (DDoS) attacks, which overwhelm the target through sheer scale, and render other services, such as decentralized vulnerability scanning and threat intelligence collection, all conducted faster than in Web2. These services are available through the DATS client-facing app, available to B2B customers on a subscription basis. By leveraging blockchain, DATS Project provides a higher degree of transparency than traditional cybersecurity providers and offers clients NFT-based security certificates after completed tests.
Selecting peaq as the layer-1 backbone for its DePIN, DATS Project will link its desktop app with peaq and deploy the smart contracts powering its core logic on the home of DePIN. It will enable NFT minting on peaq and use peaq to track and manage resource allocation across the DePIN. Further on, it will implement its rewards distribution mechanism on peaq, complete with a rewards calculator, launch the dApp on peaq and mint its token on the network.
“The DePIN model grants cybersecurity providers the capacity and scalability that’s only possible in Web3,” says Serkan Bilen, co-founder of DATS Project. “And peaq, as the home of DePIN, grants a project like ours the fundamentals, growth potential, and DePIN-specific functionalities that no other layer-1 can match. We are looking forward to leveraging peaq’s Modular DePIN Functions as part of the DePIN making the Internet safer for all.”
“Cybersecurity is a crucial industry that stands to gain a lot from the Web3 transparency and scaling capabilities,” says Till Wendler, co-founder of peaq. “We are excited to see DATS Project leverage peaq as the layer-1 for a DePIN transforming this market with community ownership and decentralization.”
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A new Ethereum meme coin, Pochita ($POCHITA), has made headlines after skyrocketing in value shortly after its launch. According to on-chain data, one trader turned an initial investment of $3,000 into $150,000 in under three hours, reflecting a near-5000% profit. This rapid surge has drawn comparisons to other meme coins like Bonk ($BONK), which gained significant attention in the Solana ecosystem.
Pochita launched on October 2, 2024, quickly reaching a $20 million market cap within 9 hours, despite the broader crypto market contracting by 2.9% over the past 24 hours. The meme coin sector also dipped 3.2%, now valued at $47.5 billion. Despite the falling prices, Pochita’s rapid rise suggests strong investor sentiment around meme coins remains, especially following recent Federal Reserve interest rate cuts.
Though meme coins are known for their volatility and lack of clear fundamentals, they can provide quick gains for traders. Pochita is being discussed as a potential successor to Bonk, and if it continues its growth, it could join the ranks of other top meme coins like Dogecoin, Shiba Inu, and Pepe Coin.
At the same time, other projects such as Crypto All-Stars ($STARS) are providing new avenues for meme coin holders by offering a unified staking platform where users can stake various meme coins and earn rewards. Crypto All-Stars has already raised over $1.9 million in its presale, indicating strong interest in platforms that provide utility and passive income opportunities for meme coin enthusiasts.
Source: cryptonews.com
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A recent Binance report highlights critical risks in the cryptocurrency market, warning of the dangers posed by inflated valuations and centralized token ownership. The report cautions that if these issues remain unaddressed, they could destabilize the long-term stability and growth of the crypto industry.
Valuation Concerns: The report emphasizes that overvaluation, particularly in newly launched tokens with low circulating supply, could lead to market bubbles and poor performance. Venture capital funds, which once aggressively invested in crypto, are now scaling back and shifting focus to sectors with more sustainable valuations. As the market becomes saturated with new tokens, the circulating supply could increase exponentially, further straining performance.
Centralization of Token Ownership: Binance also flags the risks of centralization, where large tokenholders dominate ownership. This concentration of power can result in governance issues, market manipulation, and potential crashes caused by sudden sell-offs. The report stresses the need for decentralized control and broad participation to maintain the integrity and resilience of crypto projects.
Transparency and Trust: To mitigate these risks, the report underscores the importance of transparency in fund management. A lack of clear disclosures can erode stakeholder trust and harm project sustainability. Binance notes that greater transparency, like the adoption of proof-of-reserves by platforms such as Coinbase, is crucial for fostering responsible financial management and building long-term trust in the market.
In conclusion, the report urges the crypto industry to prioritize decentralized governance and transparency to ensure sustainable growth and maintain market confidence.
Source: cointelegraph.com
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The Cryptocurrency Open Patent Alliance (COPA) has teamed up with Unified Patents to launch the Blockchain Zone initiative, aimed at combating “patent trolls” in the crypto industry. Patent trolls, or non-practicing entities (NPEs), are known for exploiting patent rights through litigation rather than developing new technologies. COPA and Unified Patents aim to prevent such entities from hindering blockchain innovation by making costly and baseless patent assertions.
The initiative is designed to safeguard blockchain and related technologies from these unwarranted patent claims, fostering an environment where developers and companies can innovate freely without fear of legal threats. Key figures in the partnership, such as Paul Grewal from Coinbase and Steve Lee from Spiral, emphasize that patent trolls create significant barriers to technological progress, especially in the fast-evolving crypto space.
By aligning with over 300 companies through Unified Patents, COPA’s effort strengthens its mission to protect the blockchain community and the broader crypto-economy from the disruptive impact of NPEs, ensuring that blockchain innovation remains open and accessible.
Source: news.bitcoin.com
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