Blockchain
Function X welcomes Litecoin Foundation as a public validator
The Litecoin Foundation joins the Function X blockchain as a public validator.
The Litecoin Foundation is a community-led, non-profit organization that promotes the awareness, development and use of Litecoin – a peer-to-peer cryptocurrency. An innovator in the global cryptocurrency community, the Litecoin Foundation educates beginners through to sophisticated investors about digital assets, their evolution, use cases and benefits. After 10 years, Litecoin – with the Litecoin Foundation’s support – remains one of the most utilized cryptocurrencies, effortlessly processing billions of transactions without interruption, friction or downtime. Litecoin allows anyone in the world to send and receive payments for a few cents, in just a few seconds. A liberating and life-changing advancement for humankind.
Function X blockchain, a next-generation internet service framework, is designed to increase the liquidity and value of digital assets created on the Function X network, has launched its mainnet in July 2021. It is a completely new ecosystem providing a novel service framework by improving the existing internet and blockchain architectures, combining the benefits of both and using the most commonly used technical solutions.
As a public validator, the Litecoin Foundation will be responsible for playing a role in consensus by broadcasting votes and participating in governance by giving their vote on proposals. By inviting outside organizations as validators, the team behind Function X can ensure its blockchain remains truly decentralized without sacrificing efficiency.
According to Alan Austin, Director at Litecoin Foundation, working with the Function X blockchain is a great step towards the organization’s goal of giving people greater control over their data and promoting the use of the blockchain technology. “With Function X, it’s easier than ever to build decentralized apps,” said Austin. “That’s a crucial step towards creating a world where people can easily access their crypto assets and build an efficient cross-chain transaction environment.”
The onboarding of the Litecoin Foundation comes after renowned organizations such as Asosiasi Blockchain Indonesia, Blockchain Collaborative Consortium, and European University Cyprus as three of the first public nodes from non-profit organizations joining the governance of the Function X blockchain.
Function X President David Ben Kay says, “The Litecoin Foundation team and community has a long history of making Litecoin accessible to more people. It’s the perfect combination. We look forward to having more cross-chain developments with Litecoin Foundation.”
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.
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Blockchain
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Blockchain
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