Blockchain
Wingbits brings hundreds of flight data trackers to peaq to decentralize aerial tracking
peaq, the blockchain for real-world applications, announces the expansion of its ecosystem with Wingbits joining to crowdsource flight data. Wingbits is building a decentralized physical infrastructure network (DePIN) that enables people to earn rewards in crypto by collecting live flight data. It also features a live map where anyone can check up on the flights currently in the air, collected by a network of hundreds of antennas around the globe. By tapping peaq as its DePIN-focused layer-1 backbone, Wingbits will decentralize the rewards mechanism at the core of its growing global network.
For a long time, radars were the main tool of tracking aerial traffic. Automatic Dependent Surveillance-Broadcast (ADS-B) data is now emerging as a modern alternative, with planes beaming their identifiers, current position, altitude, and other important information for other planes and ground control to follow. The data, essential for air travel, will grow in importance as the aviation industry faces increased scrutiny over its CO2 emissions.
Wingbits incentivizes people to set up ADS-B antennas and collect the signals from the ADS-B transponders on flight traffic. The community has already set up a DePIN of more than 230 antennas across 6 continents. The data collected this way powers its live sky map and will be of use to:
- Improve airport and airline operations
- Enhance aviation insurance
- Build and/or enhance aviation apps and services
- Air carrier companies looking to keep passengers up to date
- Researchers and enthusiasts
By using peaq as its layer-1 backbone, Wingbits will decentralize the key mechanisms and tools at the foundation of its DePIN. It will tap self-sovereign peaq IDs as the identity mechanism for the antennas joining the network. It will also leverage peaq to enable shared ownership over specific world map hexes (areas on the map); owning a part of one, represented by an NFT, boosts the holder’s owners from providing coverage. Wingbits will tap peaq’s reward pallet to distribute the rewards among hex owners based on how much data they have provided as part of the DePIN.
“peaq’s vast array of DePIN-specific functions make it a perfect home for token-incentivized networks,” says Alex Lungu, co-founder and CTO at Wingbits. “We are excited to be joining this bustling ecosystem as we foster a network providing crucial data for passenger and cargo flight services. ADS-B data grows more important by the day, and with Wingbits, anyone can become a stakeholder in this important sector.”
“Wingbits takes Web3 and DePIN to the sky,” says Till Wendler, co-founder of peaq. “Its app will enable a new generation of flight-oriented apps, services, and platforms leveraging community-sourced flight data. It’s an innovative and forward-thinking project that brings a lot of value to the ecosystem.”
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
The post Binance warns of crypto market risks from overvaluation, centralization appeared first on HIPTHER Alerts.
The Cryptocurrency Open Patent Alliance (COPA) has teamed up with Unified Patents to launch the Blockchain Zone initiative, aimed at combating “patent trolls” in the crypto industry. Patent trolls, or non-practicing entities (NPEs), are known for exploiting patent rights through litigation rather than developing new technologies. COPA and Unified Patents aim to prevent such entities from hindering blockchain innovation by making costly and baseless patent assertions.
The initiative is designed to safeguard blockchain and related technologies from these unwarranted patent claims, fostering an environment where developers and companies can innovate freely without fear of legal threats. Key figures in the partnership, such as Paul Grewal from Coinbase and Steve Lee from Spiral, emphasize that patent trolls create significant barriers to technological progress, especially in the fast-evolving crypto space.
By aligning with over 300 companies through Unified Patents, COPA’s effort strengthens its mission to protect the blockchain community and the broader crypto-economy from the disruptive impact of NPEs, ensuring that blockchain innovation remains open and accessible.
Source: news.bitcoin.com
The post COPA, Unified Patents Partner to Fight Crypto Patent Trolls appeared first on HIPTHER Alerts.
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