Blockchain
Kakao’s Blockchain Project ‘Klaytn’ Launches Its Public Testnet ‘Baobab’ to Drive Mainstream Adoption of Blockchain
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- Development environment ideal for blockchain services to flourish
- New features enhancing performance and scalability
- Intuitive Klaytn developer tools for service providers and developers
Ground X, the blockchain subsidiary of the leading South Korean mobile platform, Kakao, has released its public testnet Baobab, along with the updated position paper, which highlights the technical architecture and direction of Klaytn.
After completing the trial run of the private testnet ‘Aspen,’ which was exclusively used by the partners for the past five months since last October, Klaytn released the public testnet ‘Baobab.’ Any service providers or developers interested in using Baobab can visit the official Klaytn homepage at www.klaytn.com. The Klaytn mainnet is set to launch by the end of June.
Baobab features new functions and developer tools that enhance security and usability based on the actual feedback from the partners via Aspen. First, the account system has been improved to support users to mitigate the rigorous demands of taking care of their own accounts, which traditionally existed as randomly generated character strings. In doing so, Klaytn has added account management functions to offer better flexibility in empowering users to choose their own account names to make them easy to remember.
In addition, Klaytn accomplished over 3,000 TPS throughput and 1-second block latency. In doing so, Klaytn has added ‘Transaction Types’ and ‘Service Chain’ features in order to offer the highest performance and flexible scalability. Transaction Types improve the traditional single transaction processing by defining additional transaction types with new capabilities and optimizations, which ultimately contribute to an efficient parallelization. Meanwhile, the service chains are scalability solutions for BApps (Blockchain Applications) with large traffic by adding and operating auxiliary blockchain networks.
Furthermore, Klaytn also provides useful developer tools to make the developer experience intuitive and productive. Newly added tools include ‘EP (Enterprise Proxy)’ that allows developers to easily use Klaytn with their mobile- or web-based development method, and ‘Klaytn IDE’ (Integrated Development Environment) that supports users to build, test, and deploy codes in the browser and locally. Such features are expected to enhance the existing services or create new services by efficiently utilizing blockchain technology.
According to Jason Han, the CEO of Ground X, heading the development and operation of the Klaytn platform, “We designed Baobab in a way that allows global service providers to verify Klaytn as a stable and reliable platform while developing and operating blockchain services for their massive user base.” He added, “We also completed the white-box penetration test to retain robust security as we expect to see invaluable digital asset transfer within our platform.” Jason also commented on the alleged crowdsale for KLAY via fraudulent channels by saying, “There is absolutely no way for individuals to purchase or invest in KLAY, so please beware of potential financial damage.”
Prioritizing its efforts to drive mainstream adoption of blockchain, Klaytn brings user-friendly blockchain experience and intuitive development environment for millions of users. Klaytn has also partnered with 26 initial service partners to create real use cases thereby seeking to substantiate the value and utility of blockchain technology. Continuing its community building endeavors, Klaytn also plans to hold meetups for developers around China, Vietnam, and the Philippines in Asia, as well as the U.S. and Europe.
SOURCE Klaytn
The anticipated return of $9 billion worth of Bitcoin from the Mt. Gox era has the potential to stir anxiety within the cryptocurrency market. This significant influx of Bitcoin, which has been tied up since the collapse of the Mt. Gox exchange in 2014, raises questions about its potential impact on market dynamics and investor sentiment.
The return of these long-dormant Bitcoin holdings may lead to increased volatility and uncertainty in the cryptocurrency market. Market participants are likely to closely monitor the movement of these funds and assess their potential impact on Bitcoin prices and overall market stability.
Additionally, the large-scale return of Bitcoin from the Mt. Gox era may trigger concerns about potential selling pressure and its effect on market liquidity. Investors may anticipate fluctuations in Bitcoin prices as these funds are reintroduced into the market and traded.
Furthermore, the return of these Bitcoin holdings highlights the ongoing legal and regulatory challenges associated with the Mt. Gox saga. The resolution of this long-standing issue could have far-reaching implications for investor confidence and the perception of security within the cryptocurrency ecosystem.
Overall, the anticipated return of $9 billion worth of Bitcoin from the Mt. Gox era has the potential to evoke anxiety among market participants and prompt heightened scrutiny of market dynamics. As the cryptocurrency market braces for this significant development, it remains to be seen how it will navigate the potential challenges and opportunities presented by the return of these funds.
Source: blockchain.news
The post Anticipated Return of $9B Mt. Gox-era Bitcoin May Spur Market Anxiety appeared first on HIPTHER Alerts.
Blockchain
Binance Faces Lawsuit in Canada for Selling Crypto Derivative Products Without Registration
Binance is currently embroiled in a legal dispute in Canada over allegations of selling cryptocurrency derivative products without proper registration. This lawsuit underscores the regulatory challenges facing the cryptocurrency exchange in various jurisdictions.
The lawsuit accuses Binance of offering crypto derivative products to Canadian investors without obtaining the necessary registration from Canadian securities regulators. This legal action highlights the importance of compliance with regulatory requirements in the cryptocurrency industry, particularly concerning the sale of derivative products.
Binance’s legal woes in Canada reflect broader concerns about regulatory compliance and investor protection within the cryptocurrency sector. As authorities worldwide increase scrutiny of cryptocurrency exchanges and trading platforms, companies like Binance face mounting legal and regulatory challenges.
The outcome of this lawsuit could have significant implications for Binance and the broader cryptocurrency industry in Canada. Depending on the court’s ruling, it could lead to increased regulatory oversight and stricter enforcement measures for cryptocurrency exchanges operating in the country.
In response to the lawsuit, Binance has stated that it is committed to compliance with all applicable laws and regulations in the jurisdictions where it operates. However, the outcome of this legal dispute will likely shape the regulatory landscape for cryptocurrency exchanges in Canada and influence their future operations and compliance efforts.
Source: blockchain.news
The post Binance Faces Lawsuit in Canada for Selling Crypto Derivative Products Without Registration appeared first on HIPTHER Alerts.
The Cardano Foundation has announced the launch of Pragma, marking a significant milestone in open-source blockchain development. Pragma aims to revolutionize Cardano by enhancing its infrastructure through innovative open-source projects.
Pragma represents a new chapter in the evolution of Cardano, focusing on improving its underlying infrastructure and expanding its capabilities. The initiative underscores the Cardano Foundation’s commitment to fostering innovation and driving progress within the blockchain ecosystem.
By leveraging open-source projects, Pragma seeks to enhance Cardano’s functionality and scalability, paving the way for broader adoption and increased utility. These efforts are expected to unlock new opportunities for developers and users alike, further cementing Cardano’s position as a leading blockchain platform.
Pragma’s launch highlights the ongoing evolution of Cardano and its commitment to pushing the boundaries of blockchain technology. Through collaborative open-source development, Pragma aims to address key challenges and drive continuous improvement within the Cardano ecosystem.
The Cardano Foundation’s announcement of Pragma signals a significant step forward in its mission to build a decentralized and sustainable blockchain infrastructure. With Pragma, Cardano is poised to embark on a new era of innovation and growth, setting the stage for a future of unprecedented possibilities in blockchain development.
Source: cryptonews.com
The post Cardano Foundation Launches PRAGMA: A New Chapter in Open-Source Blockchain Development appeared first on HIPTHER Alerts.
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