Blockchain
Ethanim CEO Takaaki Ansai: The Metaverse must be Fully Decentralized
In a recent interview, Ethanim CEO Takaaki Ansai expressed his views on the development of the metaverse: “Many metaverse products or ecologies are still centralized, which could not be called real metaverse. Only the decentralized metaverse is safe, free and eternal, and that is the real metaverse.”
After years of development, the Internet industry has been in a difficult situation. The technological innovation is needed to enter a new round of growth. In 2021, the popularity of the metaverse concept gives people new hope. The new form of Internet, which brings together many new digital technologies, is leading a new wave of technological innovation. The metaverse concept application innovatively introduces a decentralized economic system based on blockchain. NFT becomes an important carrier of the whole system, which successfully bridges the virtual world and the real world. It makes the confirmation of assets and identity as well as circulation realizable possible.
“At present, although the metaverse concept application chain games in the market introduces a decentralized economic system, many chain games only make the digital assets or NFT assets on the chain. The chain game application itself is still deployed on centralized servers, which cannot avoid the situation of the user assets or game being manipulated by individuals or institutions.” Ethanim CEO Takaaki Ansai said, “Ethanim was born to solve the problem through trusted computing technology and innovative ecological logic. So that the whole of the application is on the chain. It helps the chain games implement decentralization to provide users with a real metaverse.”
It is understood that Ethanim is a new generation of public chains, which is a tailor-made metaverse to support the full decentralization of any large application. It uses an entirely new solution that is different from traditional blockchains. It creates a trusted execution environment and monitoring process for applications – RSM (Reliable State Machine). It places the nodes running applications within trusted constraints, regulates and monitors the code integrity and running state of applications, and ensures that the right applications are running in the right place.
At the same time, Ethanim introduces validators to validate the consensus of the reliable state machine, which ensures the decentralization and security of the system. This validation will be very simple, efficient, and does not affect the system performance, so that there is no need for multi-node consensus on the computation results. It solves the problem of inefficient consensus on complex computation from the origin.
In addition, Ethanim not only makes the nodes trustworthy, but also clones real-time snapshots of the applications and stores them in a distributed manner. The users’ behavioral information, digital assets, and virtual identities will be eternal. Even if the application developer modifies the application rules or suspends the running of the application, any community user can restore the application to an arbitrary state at any time. Therefore, Ethanim has historically made the metaverse applications eternal.
Ethanim enables applications to be “eternal” and “decentralized” by making them “trustworthy at runtime” and “recoverable by anyone when shut down”. With this new application decentralization solution, Ethanim creatively support the decentralization of any large application for the first time. It will become a metaverse infrastructure and portal.
After the launch, Ethanim will focus on the techniques to publish the test network online as early as possible. At the same time, Ethanim also looks for partners to lay a foundation for the future ecology of the metaverse.
Blockchain
$FAR Token ranks first on Bybit exchange and soars to 44%following staking program launch: Coingecko
Farcana — United Arab Emirates based Bitcoin shooter game, has announced that its $FAR token is now ranked first on Bybit exchange. This development comes after the launch of its staking program, which offers users a 60% annual percentage rate (APR) on their $FAR tokens.
The staking program requires users to utilize the Polygon network for staking their announcement. Following the announcement, $FAR token soared to 44% according to Coingecko.
Founded in 2022, Farcana recently raised $10 million in seed funding from Animoca Brands, Polygon Ventures, Fenbushi Capital, and Merit Circle among others. It is built on Unreal Engine 5 and Farcana shares a similar graphical style with Overwatch, a team-based multiplayer first-person shooter game by Blizzard Entertainment. The game is understood to operate under a free-to-play model.
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A new Ethereum meme coin, Pochita ($POCHITA), has made headlines after skyrocketing in value shortly after its launch. According to on-chain data, one trader turned an initial investment of $3,000 into $150,000 in under three hours, reflecting a near-5000% profit. This rapid surge has drawn comparisons to other meme coins like Bonk ($BONK), which gained significant attention in the Solana ecosystem.
Pochita launched on October 2, 2024, quickly reaching a $20 million market cap within 9 hours, despite the broader crypto market contracting by 2.9% over the past 24 hours. The meme coin sector also dipped 3.2%, now valued at $47.5 billion. Despite the falling prices, Pochita’s rapid rise suggests strong investor sentiment around meme coins remains, especially following recent Federal Reserve interest rate cuts.
Though meme coins are known for their volatility and lack of clear fundamentals, they can provide quick gains for traders. Pochita is being discussed as a potential successor to Bonk, and if it continues its growth, it could join the ranks of other top meme coins like Dogecoin, Shiba Inu, and Pepe Coin.
At the same time, other projects such as Crypto All-Stars ($STARS) are providing new avenues for meme coin holders by offering a unified staking platform where users can stake various meme coins and earn rewards. Crypto All-Stars has already raised over $1.9 million in its presale, indicating strong interest in platforms that provide utility and passive income opportunities for meme coin enthusiasts.
Source: cryptonews.com
The post Mysterious Trader Makes $150,000 Profit in 3 Hours From Just $2,956: Blockchain Analysis appeared first on HIPTHER Alerts.
A recent Binance report highlights critical risks in the cryptocurrency market, warning of the dangers posed by inflated valuations and centralized token ownership. The report cautions that if these issues remain unaddressed, they could destabilize the long-term stability and growth of the crypto industry.
Valuation Concerns: The report emphasizes that overvaluation, particularly in newly launched tokens with low circulating supply, could lead to market bubbles and poor performance. Venture capital funds, which once aggressively invested in crypto, are now scaling back and shifting focus to sectors with more sustainable valuations. As the market becomes saturated with new tokens, the circulating supply could increase exponentially, further straining performance.
Centralization of Token Ownership: Binance also flags the risks of centralization, where large tokenholders dominate ownership. This concentration of power can result in governance issues, market manipulation, and potential crashes caused by sudden sell-offs. The report stresses the need for decentralized control and broad participation to maintain the integrity and resilience of crypto projects.
Transparency and Trust: To mitigate these risks, the report underscores the importance of transparency in fund management. A lack of clear disclosures can erode stakeholder trust and harm project sustainability. Binance notes that greater transparency, like the adoption of proof-of-reserves by platforms such as Coinbase, is crucial for fostering responsible financial management and building long-term trust in the market.
In conclusion, the report urges the crypto industry to prioritize decentralized governance and transparency to ensure sustainable growth and maintain market confidence.
Source: cointelegraph.com
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