Blockchain
Function X blockchain to expand public validator nodes, onboards Asosiasi Blockchain Indonesia, Blockchain Collaborative Consortium, and European University Cyprus
Function X Foundation announced that the number of the validator nodes on its Function X blockchain — known as FXCore — increased from 20 to 50.
Function X is a network of independent heterogeneous but also interoperable blockchains. Existing applications, websites, data, and services can become decentralized through the Function X network.
The role of validators is to run a full-node and participate in consensus by broadcasting votes which contain cryptographic signatures signed by their private key. They must also participate in governance by voting on proposals. Validators are weighted according to their total stake.
It’s also confirmed that Asosiasi Blockchain Indonesia, Blockchain Collaborative Consortium, and European University Cyprus became three of the first public nodes from non-profit organizations, enabling the network moves closer to true decentralization while still maintaining network security and stability.
The increase in validator nodes was decided after a proposal was passed through FX (the governance token of the Function X network) holders on the motion. The voting period on the decision was held from November 11 to November 25, with proponents for increasing the nodes stating that doing so would increase decentralization on the network.
On the other hand, having three respected institutions such as the Asosiasi Blockchain Indonesia, Blockchain Collaborative Consortium, and European University Cyprus will bring a new level of expertise to the work of validating the Function X network. All three organizations have worked with Pundi X, the company developing the Function X project, on blockchain education and adoption.
“We’re working with trusted organizations in helping the Function X blockchain reach its full potential,” said Function X Foundation President David Ben Kay. “Having them onboard affords the Function X project the perfect combination of trust, collaboration, and expertise.”
“We’re excited to set up a public node with Function X given their extensive experience of innovating the blockchain industry. It allows us to participate in the governance and build the network” said Costas Papacostantinou, Director of Information Systems and Operation of European University Cyprus.
“Participating in Function X as a public validator allows us to contribute together with the international blockchain community. This is a collective effort to operate as a decentralized organization. We are happy to be part of it,” said Asih Karnengsih, Chairwoman of Asosiasi Blockchain Indonesia.
As of writing, the Function X network has created over 2 million blocks with an average block time of 5 seconds since its mainnet launch in July 2021.
“With more people helping out and participating in the Function X project, we expect it to truly make an impact in no time,” Kay said. “Our vision has always been to create a world that’s more efficient through blockchain. The latest news on validator nodes will certainly bring us closer.”
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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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