Blockchain
Online Blockchain plc: Umbria Network’s Narni Blockchain Bridge in Testing Mode
DeFi protocol Umbria Network – https://umbria.network/ – has initiated development of a first-of-its-kind blockchain bridge.
Umbria’s ‘Narni’ bridge will facilitate quick, frictionless and cost-effective cross-chain transactions thereby removing the barriers associated with many other bridges. Initially enabling the transfer of UMBR (Umbria’s governance token) between the Ethereum Mainnet and Matic Mainnet, the second stage of Narni’s development will see it compatible with other assets, and integrating with other blockchains such as Binance Smart Chain and subsequently any EVM (Ethereum Virtual Machine) compatible chain.
The Umbria development team is focused on creating a supreme user experience and promoting blockchain interoperability and compatibility. Currently anyone moving assets from Ethereum to the Polygon network (previously Matic) can experience slow transaction speeds, high fees and the confusing technical challenge of configuring their cryptocurrency wallet to work with multiple chains. By using a different transfer mechanism to comparable bridges, the Narni ‘insta-bridge’ will ensure users can quickly and economically migrate assets from one network to another in just a few clicks. The Narni insta-bridge will also automatically suggest the correct configuration for Metamask to track assets on the pertinent networks.
Narni will make the superior features afforded by the Umbria DEX and Umbria farms much easier to access and will open up the platform to a wider audience. Another key feature will be the ability to provide liquidity to the bridge to earn high APY. On launch, this facility will be available for UMBR on both the Ethereum and Polygon networks and will be quickly extended to other assets.
Liquidity provision on the Narni bridge will be a compelling proposition for stablecoin farmers, who usually generate low APY when pooling. The developers of Narni expect the majority of bridged assets to be stablecoins such as USDT and USDC – subsequently earning a large volume of fees for the liquidity providers. These fees will potentially generate far greater APYs than those offered in traditional DeFi farming as liquidity is used more efficiently than in traditional AMM pools.
Umbria’s Narni bridge, which is named after the famous Bridge of Augustus, a Roman arch bridge in the Italian city of Narni in the Umbria region, is due to launch in a few weeks time for transfers between Polygon-ETH chains.
“The release of Narni will be a watershed moment in providing our community with an improved user experience across our DeFi products and services. Narni will be a hub for transferring between chains and solve the current issue of lack of blockchain interoperability and scalability,” commented Barney Chambers, co-lead and co-founder of Umbria Network. “We are moving towards being blockchain agnostic; ultimately Umbria’s bridge will realise full frictionless interoperability between a universe of chains.”
The Umbria team will be hosting an Ask Me Anything event on its Discord server to answer any questions from the community. The date and time will be announced soon via Umbria’s social media channels (Discord, Telegram, Instagram, Twitter, Facebook. Anyone interested in participating can also send an email to [email protected] and will be notified once the time has been finalised.
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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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