Blockchain
Tether Launches as the First Stablecoin on Algorand’s Next Generation Blockchain Platform
Tether, the blockchain-enabled platform that powers the largest stablecoin by market capitalization, is live on Algorand 2.0, the world’s first permissionless, pure proof of stake blockchain platform. Tether is the first stablecoin to leverage the innovation released in Algorand 2.0 and will provide instant confirmation, micro payments and automatic wallet support.
Algorand users will have access to Tether, the most liquid, stable medium of exchange using the high speed, scalability and transaction finality inherent in the Algorand platform. In particular, Tether is using one of the key features of the Algorand 2.0 upgrade, the Algorand Standard Asset (ASA) technology, which makes it possible for the tokenization and issuance of any type of asset on the Algorand blockchain. Tether’s implementation on Algorand will benefit from block confirmation in under four seconds and transaction fees that are a fraction of a percent, unlocking the opportunity for micropayments on blockchain.
“A key strength of Tether is that it is underpinned by a rich diversity of different blockchains,” said Paolo Ardoino, CTO at Tether. “Our latest collaboration with Algorand leverages the speed and security of Algorand’s protocol to give traders fast settlement and reduced counterparty risk in their fiat to digital asset transactions. Tether and Algorand both share a desire to keep building next-generation financial products and we feel our growing customer base will appreciate and benefit greatly from this collaboration.”
“We are excited that Tether has chosen to join the Algorand ecosystem and its stablecoin will benefit from technology that provides immediate transaction finality and security to support a strong and more stable defi economy,” said Steve Kokinos, CEO of Algorand Inc. “Tether’s issuance of their asset on Algorand will be a gamechanger for global defi participants as it is one of the fastest and safest ways to move money around the world.”
As more institutions look to build decentralized financial applications, Algorand 2.0 offers scalable, enterprise-grade solutions that can be customized as needed for real-world use cases. Algorand 2.0 upgrades enable features such as standard assets, atomic transfers and smart contracts all built into layer-1 of the protocol.
In addition to the collaboration with Algorand, Tether also works with Ethereum, EOS, Liquid Network, Omni and Tron. Tether is driven to support and empower growing ventures and innovation in the blockchain space.
SOURCE Algorand Foundation
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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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