Blockchain
OMC Group Launches OMChain2.0 with Smart Contract Feature
OMC Group Sdn Bhd (“OMC Group” or “Company”) has introduced OMChain2.0, the latest version of the consortium blockchain it is building to assist businesses in working more efficiently while securing their data and ensuring transparent transactions.
OMC Group, the blockchain arm and subsidiary of AIO Synergy Holdings Berhad, offers solutions through the Company’s own patented decentralised ledger technology known as Authorised Proof of Capacity (“APoC”), which is the consensus mechanism used to run the OMChain2.0. APoC is similar to Proof of Capacity, which is an algorithm that is more energy-efficient for validating, auditing, storing and securing data due to the pre-calculated hash stored in devices such as computers.
OMC Group CEO Jack Lee said: “We are happy to announce that beginning July we are offering OMChain2.0 which comes with a smart contract feature. We believe OMChain2.0 have what it takes for businesses to run their operations efficiently, safely and transparently. We see our blockchain technology making headway with business, government and community as we roll out other products and services in the coming months and into 2021.”
Smart contracts allow enterprises to streamline and execute their complex business processes without the need for intermediaries. This removes the risk of manipulation while reducing costs and saving time. OMChain2.0 also offer private smart contracts and transactions due to the peer-to-peer and network permission management processes of a consortium blockchain. Enterprises have better control over their data and can delegate voting rights to authorised nodes to validate transactions.
Through APoC, OMChain2.0 can process transactions way faster than Proof-of-Work, the original consensus algorithm used to validate, audit, store and secure data that the bitcoin protocol uses or Proof of Stake, which the Ethereum protocol is transitioning to.
OMC Group is developing a number of projects for different uses and will soon be launching a decentralised application, or “DApp” known as Omni Pets, to showcase how businesses can define digital assets and how these assets’ ownership can be assigned or transferred through the blockchain.
A recent warning from the FBI regarding a crypto money transmitter seems to be aimed at the Samourai Wallet. This development highlights the increasing scrutiny and regulatory challenges faced by privacy-focused cryptocurrency wallets and services.
The FBI warning raises concerns about the use of certain cryptocurrency wallets that prioritize user privacy and anonymity, potentially enabling illicit activities such as money laundering and terrorist financing. While the warning does not explicitly name any specific wallet or service, the language used suggests that the Samourai Wallet may be the target of the advisory.
Samourai Wallet is known for its focus on privacy and security features, including coin mixing and stealth addresses, which aim to enhance user privacy and protect against surveillance and tracking. However, these features have drawn the attention of law enforcement agencies and regulators, who are increasingly concerned about their potential misuse by criminals.
The FBI warning underscores the challenges faced by privacy-focused cryptocurrency wallets in navigating regulatory compliance and law enforcement scrutiny. While these wallets aim to empower users with greater control over their financial privacy, they must also address regulatory requirements and law enforcement concerns to avoid legal and reputational risks.
As the cryptocurrency industry continues to evolve, privacy-focused wallets like Samourai Wallet will need to strike a balance between privacy and compliance, ensuring that they can provide robust privacy features while also addressing regulatory concerns and maintaining transparency with authorities. This delicate balance is essential to foster trust and confidence among users and regulators alike, ultimately enabling the continued growth and adoption of privacy-enhancing technologies in the cryptocurrency space.
Source: cointelegraph.com
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Blockchain
Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets
Pantera Capital is reportedly planning to raise $1 billion for a new fund that offers exposure to various crypto assets, as reported by Blockchain.News. This ambitious fundraising initiative underscores Pantera’s continued confidence in the potential of the cryptocurrency market and its commitment to providing investors with diversified investment opportunities in the digital asset space.
The new fund from Pantera Capital aims to capitalize on the growing demand for exposure to cryptocurrencies and blockchain-based assets among institutional and retail investors. By offering a comprehensive portfolio of crypto assets, the fund seeks to provide investors with access to a wide range of investment opportunities, spanning cryptocurrencies, tokens, and other digital assets.
Pantera’s decision to raise $1 billion for the new fund reflects its optimistic outlook on the long-term growth prospects of the cryptocurrency market. With increasing mainstream adoption and institutional interest in cryptocurrencies, Pantera sees significant potential for value creation and capital appreciation in the digital asset space.
As one of the leading blockchain-focused investment firms, Pantera Capital is well-positioned to attract capital from investors seeking exposure to the cryptocurrency market. The firm’s track record of successful investments and its experienced team of investment professionals are likely to bolster investor confidence and support for the new fund.
Pantera Capital’s plans to raise $1 billion for its new fund underscore its commitment to driving innovation and growth in the cryptocurrency market. As the fund attracts capital and deploys it into promising investment opportunities, it is poised to play a key role in shaping the future of the digital asset ecosystem.
Source: blockchain.news
The post Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets appeared first on HIPTHER Alerts.
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