Blockchain
Online Blockchain plc: Cheap, Fast and Easy Bridging of MATIC on Umbria Network
MATIC, the native token for the Polygon Network, can be migrated cross-chain almost instantly and at minimal cost using Umbria’s Narni Bridge – bridge.umbria.network.
The popular token, which is currently ranked 20 of all crypto assets in terms of market cap, can be transferred with the Narni Bridge at approximately a 90% discount to other solutions. A typical transaction for MATIC takes less than four minutes and often costs just $4-$9 to transfer from Ethereum to Polygon.
In addition to benefitting from incredibly fast and inexpensive transactions, users of Narni can put their $MATIC to work by lending it to the bridge to earn interest on this asset. With Narni’s ‘pool and earn’ feature (https://bridge.umbria.network/pool/), liquidity providers (LPs) receive fees when other participants bridge MATIC between networks.
The ‘pool and earn’ feature is particularly lucrative for anyone staking $UMBR – Umbria’s governance token. These liquidity providers earn their share of a 0.3% fee, whenever anyone transfers any of the assets supported by the bridge (including MATIC) cross-chain. The rewards earned are paid in the assets used to bridge between networks and are added to the staking balance of each token on the respective network. Unlike many other platforms, where users provide liquidity as a pair of two different tokens and can lose upside due to the change in value of the underlying assets, on Narni there is no impermanent loss as only one asset is provided as liquidity.
Wednseday 17th, November saw the Narni bridge record its highest volume of transactions.
“Polygon solves many of the significant limitations of the Ethreum Network chiefly poor throughput and high gas fees, which is making it an increasingly popular platform for DeFi and NFT projects to build on including ourselves,” said Oscar Chambers, Co-lead developer at Umbria. “As its market share and TVL increases so does interest in its native token MATIC. We’re seeing this first hand and are thrilled to enable users to bridge this asset incredibly cheaply, easily and quickly; and to earn APY.”
For more information about the bridge see the Umbria documentation page: bridge.umbria.network/docs and for feedback, questions and the very latest news about the Narni Bridge please head to our Discord channel.
See the latest data on UMBR on CoinMarketCap and CoinGecko:
https://coinmarketcap.com/currencies/umbria-network/news/
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.
Blockchain
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