Blockchain
OKEx Expands Extensive DeFi Offer, Listing DIA and Kleros PNK
![](https://theblockchainexaminer.com/wp-content/uploads/2020/08/2-4.jpg)
OKEx (www.okex.com), a world-leading cryptocurrency spot and derivatives exchange, has further amplified its offering of decentralized finance tokens by listing Decentralised Information Asset (DIA), an open-source platform for transparent, community-verified price oracles for DeFi applications, and Kleros (PNK), an open-source online platform for dispute resolution.
DIA spot trading against USDT went live at 12:00 pm UTC on Aug. 18, and DIA spot trading against ETH from 1:00 pm UTC on Aug. 18. DIA deposits opened at 11:00 am UTC on Aug. 18, and withdrawals became available starting from 11:00 am on Aug. 19. DIA value soared by as much as 60% when trading became available on the OKEx platform.
PNK spot trading against USDT became available at 8:00 am UTC on Aug. 19, and PNK spot trading against ETH at 9:00 am UTC on Aug. 19. PNK deposits opened up at 7:00 am on Aug. 19 and withdrawals will be available beginning at 9:00 am UTC on Aug. 21.
Growing the DeFi economy through collaboration
Exponentially growing leading DeFi protocols like Maker, Compound, Aave and Synthetix requires oracles to deliver critical fundamental data, such as asset prices. These oracles are one of the essential building blocks for a DeFi ecosystem to function and grow, and they must meet the requirements of DeFi’s promise of transparency and independence.
Today, however, most DeFi products still lack a robust pricing-data solution and rely on nontransparent data sources, which creates substantial risks for investors because the methodologies of price processing by oracles are not clearly stated. As the DeFi economy grows, so does the need for accurate price oracles to circumvent attacks from malicious actors exploiting technological and methodological vulnerabilities.
DIA provides trusted price oracles for DeFi applications. Its open-source platform allows for transparent price oracles that are entirely community-verified. DIA leverages crypto-economic incentives and the invaluable judgment of the community to source, validate and deliver trusted financial data. As a Swiss-based nonprofit association, DIA strives to democratize financial data, with transparent data sources and methodologies that are publicly accessible to everyone — from DeFi platforms, traders and financial institutions, to information providers, regulators and financial authorities.
Kleros (PNK), on the other hand, is an open-source online platform for dispute resolution that uses blockchain and crowdsourcing to fairly adjudicate disputes. Development efforts are coordinated by Coopérative Kleros, a Société Coopérative d’Intérêt Collectif (SCIC) incorporated in France. As DeFi grows, so does the need for effective solutions for dispute resolution, and Kleros is currently solving disputes in matters including exchange-listing procedures. All of its research and code development are open-source and free for anyone to use.
“We’re very encouraged to see the giant strides being taken in the DeFi economy,” said OKEx CEO Jay Hao. “As a real alternative solution to traditional financial services grows up around us, offering people the chance to make significant returns on their investments, it is essential that the space grows sustainably and with accurate price data that is free from manipulation and effective dispute resolution mechanisms to protect users’ interests. To that end, we are pleased to be listing DIA and PNK in order to further support DeFi’s progress.”
OKEx now lists a total of 19 DeFi tokens — and last week, it announced the creation of OKEx Oracle, its secure signed price feed that, like DIA, can be used by decentralized finance projects to gain access to reliable on-chain prices from a trustworthy source. Jay Hao added:
“With more than $6 billion of locked value in DeFi protocols, it’s clear that we are not going to see a retraction in DeFi any time soon. As banks offer their customers near-negative yields on savings and high interest rates on loans, DeFi provides an extremely attractive alternative. We’re thrilled to be leading the way alongside outstanding projects like these and are excited to see how far DeFi progresses in the future.”
Blockchain
Glidelogic Corp. Announces Revolutionary AI-Generated Content Copyright Protection Solution
Blockchain
Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them
![ethereum-etfs-aren’t-blockchain-but-is-a-revolutionary-tech:-top-6-amazing-reasons-to-invest-in-them](https://theblockchainexaminer.com/wp-content/uploads/2024/07/51834-ethereum-etfs-arent-blockchain-but-is-a-revolutionary-tech-top-6-amazing-reasons-to-invest-in-them.png)
The financial landscape is rapidly evolving, with the integration of blockchain technology and cryptocurrencies becoming more prominent. Among these, Ethereum ETFs (Exchange-Traded Funds) have emerged as a significant investment vehicle, offering exposure to the Ethereum blockchain’s native cryptocurrency, Ether (ETH), without requiring direct ownership. However, it’s crucial to understand that Ethereum ETFs are distinct from the blockchain itself and serve different purposes in the investment world.
Understanding Ethereum and ETFs
Ethereum: A decentralized platform that enables the creation and execution of smart contracts and decentralized applications (dApps). It operates using its cryptocurrency, Ether (ETH), which fuels the network.
ETF (Exchange-Traded Fund): A type of investment fund that holds a collection of assets and is traded on stock exchanges. ETFs can include various asset classes, such as stocks, commodities, or bonds.
Ethereum ETFs: The Intersection of Traditional Finance and Cryptocurrency
An Ethereum ETF provides a way for investors to gain exposure to the price movements of Ether without directly purchasing the cryptocurrency. This is achieved through an ETF structure, where the fund holds assets linked to the value of Ether, and investors can buy shares of the ETF on traditional stock exchanges.
Key Features of Ethereum ETFs:
- Indirect Exposure: Investors gain exposure to Ether’s price changes without needing to manage or store the cryptocurrency themselves.
- Regulatory Compliance: Unlike the relatively unregulated cryptocurrency market, ETFs operate under the oversight of financial regulators, offering a layer of investor protection.
- Accessibility: Ethereum ETFs are available through traditional brokerage platforms, making them accessible to a broader range of investors.
Why Invest in an Ethereum ETF?
- Diversification: Including an Ethereum ETF in a portfolio can provide exposure to the cryptocurrency market, potentially enhancing diversification beyond traditional assets.
- Convenience and Familiarity: ETFs are a familiar investment product, simplifying the process of investing in cryptocurrencies.
- Professional Management: ETF managers handle the investment decisions, including the buying and selling of assets, which can be advantageous for those less familiar with the cryptocurrency space.
- Regulatory Oversight: ETFs are subject to regulatory scrutiny, potentially offering more safety and transparency compared to direct cryptocurrency investments.
- Potential for Growth: As the cryptocurrency market grows, ETFs linked to assets like Ether may benefit from rising prices.
Key Differences Between Ethereum and Ethereum ETFs
While both are related to the Ethereum blockchain, Ethereum itself and Ethereum ETFs represent different forms of investment:
- Ethereum (ETH):
- Direct ownership of the cryptocurrency.
- Full exposure to Ethereum’s features, including staking and network participation.
- Traded on cryptocurrency exchanges.
- Highly volatile and largely unregulated.
- Ethereum ETF:
- Indirect exposure through shares representing Ether’s value.
- Traded on traditional stock exchanges under regulatory oversight.
- Offers a more stable and familiar investment structure.
- Typically lower volatility compared to direct cryptocurrency ownership.
Future Considerations for Ethereum ETFs
The approval and launch of Ethereum ETFs mark a significant milestone in bringing cryptocurrencies closer to mainstream finance. They offer a convenient and regulated means for investors to gain exposure to the growing digital assets market. However, they also come with limitations, such as not allowing direct participation in the Ethereum ecosystem’s innovations, like dApps and smart contracts.
As the market evolves, we may see more sophisticated financial products that better capture the full potential of the Ethereum ecosystem. For now, Ethereum ETFs provide a balanced option for those interested in cryptocurrency exposure within the framework of traditional finance.
In conclusion, while Ethereum ETFs offer a gateway into the world of digital assets, they should be viewed as complementary to, rather than a replacement for, direct investment in the underlying blockchain technologies. Investors should carefully consider their investment goals, risk tolerance, and the unique attributes of both Ethereum and Ethereum ETFs when making investment decisions.
Source: blockchainmagazine.net
The post Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them appeared first on HIPTHER Alerts.
Blockchain
Nexo Reaffirms Commitment to Data Protection with SOC 3 and SOC 2 Compliance
![nexo-reaffirms-commitment-to-data-protection-with-soc-3-and-soc-2-compliance](https://theblockchainexaminer.com/wp-content/uploads/2024/07/51836-nexo-reaffirms-commitment-to-data-protection-with-soc-3-and-soc-2-compliance.png)
Nexo, a leading institution in the digital assets industry, has reinforced its commitment to data security by renewing its SOC 2 Type 2 audit and attaining a new SOC 3 Type 2 assessment without any exceptions. This rigorous audit process, conducted by A-LIGN, a respected independent auditor specializing in security compliance, confirms Nexo’s adherence to stringent Trust Service Criteria for Security and Confidentiality.
Key Achievements and Certifications
- SOC 2 and SOC 3 Compliance:
- SOC 2 Type 2: This audit evaluates and reports on the effectiveness of an organization’s controls over data security, particularly focusing on the confidentiality, integrity, and availability of systems and data.
- SOC 3 Type 2: This public-facing report provides a summary of SOC 2 findings, offering assurance to customers and stakeholders about the robustness of Nexo’s data security practices.
- Additional Trust Service Criteria:
- Nexo expanded the scope of these audits to include Confidentiality, showcasing a deep commitment to protecting user data.
- Security Certifications:
- The company also adheres to the CCSS Level 3 Cryptocurrency Security Standard, and holds ISO 27001, ISO 27017, and ISO 27018 certifications, awarded by RINA. These certifications are benchmarks for security management and data privacy.
- CSA STAR Level 1 Certification:
- This certification demonstrates Nexo’s adherence to best practices in cloud security, further solidifying its position as a trusted partner in the digital assets sector.
Impact on Customers and Industry Standards
Nexo’s rigorous approach to data protection and compliance sets a high standard in the digital assets industry. By achieving these certifications, Nexo provides its over 7 million users across more than 200 jurisdictions with confidence in the security of their data. These achievements not only emphasize the company’s dedication to maintaining top-tier security standards but also highlight its proactive stance in fostering trust and transparency in digital asset management.
Nexo’s Broader Mission
As a premier institution for digital assets, Nexo offers a comprehensive suite of services, including advanced trading solutions, liquidity aggregation, and tax-efficient credit lines backed by digital assets. Since its inception, the company has processed over $130 billion, showcasing its significant impact and reliability in the global market.
In summary, Nexo’s successful completion of SOC 2 and SOC 3 audits, along with its comprehensive suite of certifications, underscores its commitment to the highest standards of data security and operational integrity. This dedication positions Nexo as a leader in the digital assets space, offering unparalleled security and peace of mind to its users.
Source: blockchainreporter.net
The post Nexo Reaffirms Commitment to Data Protection with SOC 3 and SOC 2 Compliance appeared first on HIPTHER Alerts.
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