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.”
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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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