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.
Blockchain
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Blockchain
Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users
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Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
The post Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity) appeared first on News, Events, Advertising Options.
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