Blockchain
2blox taps peaq as its layer-1 blockchain to drive Web3 innovation in crowd-sourced mobility data
![](https://theblockchainexaminer.com/wp-content/uploads/2023/08/2blox-taps-peaq-as-its-layer-1-blockchain-to-drive-Web3-innovation-in-crowd-sourced-mobility-data-1.jpg)
peaq, the Web3 network powering the Economy of Things, announces an expansion of its ecosystem as 2blox joins to decentralize mobility data collection. 2blox is building a decentralized physical infrastructure network (DePIN) of AI-powered cameras for counting pedestrians and all sorts of transport means on roads. As part of the integration, these cameras will be outfitted with self-sovereign peaq IDs. The decentralized application (dApp) that will enable smart camera owners to monetize the data they collect will run on the peaq network.
Mobility data is a crucial resource for urban planners, emergency services, and marketers. The success of platforms such as Waze underscores the efficacy of crowd-sourcing such data as part of a multi-pronged business model.
2blox boosts the mechanism for crowd-sourcing mobility data by adding cryptocurrency incentives for the community to share local traffic data using the 2blox AI-powered camera. Their stationary MOBI1 sensor can be set up at home to monitor real-time traffic outside. Their next product, the AI-powered MobiGo mobile app, allows users to “capture” streets Pokemon GO-style by taking their snapshots. The insights the devices generate are anonymous, with no sensitive data leaving it at any point. For a glimpse into the future of mobility data collection, check out 2blox’s Web app CrowdQuest.
As 2blox brings its DePIN on peaq as the layer-1 backbone, it will make use of peaq’s core functions to build its backend and business logic. At the initial stage, it will outfit its proprietary smart cameras with self-sovereign peaq IDs. With these, the device owners will be able to quickly connect their devices with peaq through peaq control, add them to their fleet, and link them with the 2blox dApp. 2blox will also develop and deploy the smart contracts powering the tokenomics of its DePIN on peaq’s Ethereum Virtual Machine chain. Finally, 2blox will launch its dApp on peaq, complete with device management functionality and automated rewards for users. Once live on peaq, the device owners will be able to get extra rewards through peaq’s mechanism that distributes a fraction of the network fees between the connected devices on it.
“Crowdsourcing useful data is the best way to scale fast, and the only fair way to do it is to reward the community with something valuable for that,” says Rémy Gierech, founder of 2blox. “2blox is embracing this strategy, and peaq’s machine-specific functions and tokenomics will enable the project to grow lightning-fast.”
“We’re excited to see 2blox join the peaq ecosystem,” says Till Wendler, co-founder of peaq. “The ongoing rise of AI is a boon for any data platforms, and 2blox merges a use case with a proven demand and a model that fairly rewards the contributors.”
peaq is a layer-1 network launching as a Polkadot parachain in early 2024. peaq’s sister network krest is already live and producing blocks on Kusama. 2blox is the third DePIN to integrate with peaq in summer 2023 following Brainstem, a Web3 digital health platform, and ELOOP, a tokenized Tesla-sharing service.
Blockchain
Glidelogic Corp. Announces Revolutionary AI-Generated Content Copyright Protection Solution
Blockchain
Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them
![ethereum-etfs-aren’t-blockchain-but-is-a-revolutionary-tech:-top-6-amazing-reasons-to-invest-in-them](https://theblockchainexaminer.com/wp-content/uploads/2024/07/51834-ethereum-etfs-arent-blockchain-but-is-a-revolutionary-tech-top-6-amazing-reasons-to-invest-in-them.png)
The financial landscape is rapidly evolving, with the integration of blockchain technology and cryptocurrencies becoming more prominent. Among these, Ethereum ETFs (Exchange-Traded Funds) have emerged as a significant investment vehicle, offering exposure to the Ethereum blockchain’s native cryptocurrency, Ether (ETH), without requiring direct ownership. However, it’s crucial to understand that Ethereum ETFs are distinct from the blockchain itself and serve different purposes in the investment world.
Understanding Ethereum and ETFs
Ethereum: A decentralized platform that enables the creation and execution of smart contracts and decentralized applications (dApps). It operates using its cryptocurrency, Ether (ETH), which fuels the network.
ETF (Exchange-Traded Fund): A type of investment fund that holds a collection of assets and is traded on stock exchanges. ETFs can include various asset classes, such as stocks, commodities, or bonds.
Ethereum ETFs: The Intersection of Traditional Finance and Cryptocurrency
An Ethereum ETF provides a way for investors to gain exposure to the price movements of Ether without directly purchasing the cryptocurrency. This is achieved through an ETF structure, where the fund holds assets linked to the value of Ether, and investors can buy shares of the ETF on traditional stock exchanges.
Key Features of Ethereum ETFs:
- Indirect Exposure: Investors gain exposure to Ether’s price changes without needing to manage or store the cryptocurrency themselves.
- Regulatory Compliance: Unlike the relatively unregulated cryptocurrency market, ETFs operate under the oversight of financial regulators, offering a layer of investor protection.
- Accessibility: Ethereum ETFs are available through traditional brokerage platforms, making them accessible to a broader range of investors.
Why Invest in an Ethereum ETF?
- Diversification: Including an Ethereum ETF in a portfolio can provide exposure to the cryptocurrency market, potentially enhancing diversification beyond traditional assets.
- Convenience and Familiarity: ETFs are a familiar investment product, simplifying the process of investing in cryptocurrencies.
- Professional Management: ETF managers handle the investment decisions, including the buying and selling of assets, which can be advantageous for those less familiar with the cryptocurrency space.
- Regulatory Oversight: ETFs are subject to regulatory scrutiny, potentially offering more safety and transparency compared to direct cryptocurrency investments.
- Potential for Growth: As the cryptocurrency market grows, ETFs linked to assets like Ether may benefit from rising prices.
Key Differences Between Ethereum and Ethereum ETFs
While both are related to the Ethereum blockchain, Ethereum itself and Ethereum ETFs represent different forms of investment:
- Ethereum (ETH):
- Direct ownership of the cryptocurrency.
- Full exposure to Ethereum’s features, including staking and network participation.
- Traded on cryptocurrency exchanges.
- Highly volatile and largely unregulated.
- Ethereum ETF:
- Indirect exposure through shares representing Ether’s value.
- Traded on traditional stock exchanges under regulatory oversight.
- Offers a more stable and familiar investment structure.
- Typically lower volatility compared to direct cryptocurrency ownership.
Future Considerations for Ethereum ETFs
The approval and launch of Ethereum ETFs mark a significant milestone in bringing cryptocurrencies closer to mainstream finance. They offer a convenient and regulated means for investors to gain exposure to the growing digital assets market. However, they also come with limitations, such as not allowing direct participation in the Ethereum ecosystem’s innovations, like dApps and smart contracts.
As the market evolves, we may see more sophisticated financial products that better capture the full potential of the Ethereum ecosystem. For now, Ethereum ETFs provide a balanced option for those interested in cryptocurrency exposure within the framework of traditional finance.
In conclusion, while Ethereum ETFs offer a gateway into the world of digital assets, they should be viewed as complementary to, rather than a replacement for, direct investment in the underlying blockchain technologies. Investors should carefully consider their investment goals, risk tolerance, and the unique attributes of both Ethereum and Ethereum ETFs when making investment decisions.
Source: blockchainmagazine.net
The post Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them appeared first on HIPTHER Alerts.
Blockchain
Nexo Reaffirms Commitment to Data Protection with SOC 3 and SOC 2 Compliance
![nexo-reaffirms-commitment-to-data-protection-with-soc-3-and-soc-2-compliance](https://theblockchainexaminer.com/wp-content/uploads/2024/07/51836-nexo-reaffirms-commitment-to-data-protection-with-soc-3-and-soc-2-compliance.png)
Nexo, a leading institution in the digital assets industry, has reinforced its commitment to data security by renewing its SOC 2 Type 2 audit and attaining a new SOC 3 Type 2 assessment without any exceptions. This rigorous audit process, conducted by A-LIGN, a respected independent auditor specializing in security compliance, confirms Nexo’s adherence to stringent Trust Service Criteria for Security and Confidentiality.
Key Achievements and Certifications
- SOC 2 and SOC 3 Compliance:
- SOC 2 Type 2: This audit evaluates and reports on the effectiveness of an organization’s controls over data security, particularly focusing on the confidentiality, integrity, and availability of systems and data.
- SOC 3 Type 2: This public-facing report provides a summary of SOC 2 findings, offering assurance to customers and stakeholders about the robustness of Nexo’s data security practices.
- Additional Trust Service Criteria:
- Nexo expanded the scope of these audits to include Confidentiality, showcasing a deep commitment to protecting user data.
- Security Certifications:
- The company also adheres to the CCSS Level 3 Cryptocurrency Security Standard, and holds ISO 27001, ISO 27017, and ISO 27018 certifications, awarded by RINA. These certifications are benchmarks for security management and data privacy.
- CSA STAR Level 1 Certification:
- This certification demonstrates Nexo’s adherence to best practices in cloud security, further solidifying its position as a trusted partner in the digital assets sector.
Impact on Customers and Industry Standards
Nexo’s rigorous approach to data protection and compliance sets a high standard in the digital assets industry. By achieving these certifications, Nexo provides its over 7 million users across more than 200 jurisdictions with confidence in the security of their data. These achievements not only emphasize the company’s dedication to maintaining top-tier security standards but also highlight its proactive stance in fostering trust and transparency in digital asset management.
Nexo’s Broader Mission
As a premier institution for digital assets, Nexo offers a comprehensive suite of services, including advanced trading solutions, liquidity aggregation, and tax-efficient credit lines backed by digital assets. Since its inception, the company has processed over $130 billion, showcasing its significant impact and reliability in the global market.
In summary, Nexo’s successful completion of SOC 2 and SOC 3 audits, along with its comprehensive suite of certifications, underscores its commitment to the highest standards of data security and operational integrity. This dedication positions Nexo as a leader in the digital assets space, offering unparalleled security and peace of mind to its users.
Source: blockchainreporter.net
The post Nexo Reaffirms Commitment to Data Protection with SOC 3 and SOC 2 Compliance appeared first on HIPTHER Alerts.
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