Blockchain
aelf’s Hacker Bounty Phase 2 Kicks Off
On July 16th, 2020 aelf announced their latest bounty program in which hackers will race against each other in an attempt to hack 1 million ELF tokens ($100,000 USD at time of press) in a Cross-Chain token transfer. The program demonstrates the team’s confidence in their cross-chain transfer protocol (CCTP) and the critical importance this protocol’s security will have in connecting blockchains together.
The program is co-hosted by aelf and CertiK, a blockchain security company. The co-organizers are DVP, a decentralized vulnerability platform, and SlowMist Technology, a blockchain security company. PeckShield, another blockchain security company, will be the vulnerability assessment partner. The program will be covered by dozens of leading media outlets at home and abroad and is expected to draw white hat hackers and cyber-security enthusiasts from all over the world.
The Bounty Program is about finding vulnerabilities in the Cross-Chain Transfer Protocol (CCTP), so those on the Ethereum Network or aelf will not count. During the program, users who retweet the event will also have the opportunity to share out 8888 ELF and win 52 ELF every day. Participants who are able to hack the CCTP and swap the ELF test tokens to their own account addresses during the event will be rewarded with the equivalent amount of ERC20 ELF tokens.
The amount of tokens put up for reward was decided upon by aelf’s core community as a way for aelf to hand more control to the community in decisions relating to the running and governing of the aelf ecosystem.
Earlier aelf announced the launch of the CCTP product which will allow asset transfers between multiple blockchains. One of the initial applications of this protocol will be to complete aelf’s highly anticipated Mainnet token swap via smart contract from the Ethereum network onto aelf’s Mainnet. The CCTP can be utilized by any blockchain seeking to interact with other chains and will drive adoption of blockchain applications.
The protocol has resolved one of IBC’s (Inter-Blockchain Communication) key complications in blockchains using a variety of governance consensus methods. This is achieved through the use of cross-chain existence proof, relying on the Merkle Proof mechanism.
The program will run until August 5th and anyone interested in participating or finding out more details can visit here.
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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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