Tug of war intensifies as Ethereum Classic price grinds closer to a 15% breakout – FXStreet

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Ethereum Classic price continues to sink deeper into the abyss, with declines from its most recent high at $45.66 seemingly unstoppable. The PoW (proof-of-work) token may have lost its charm, with investors pulling the rug immediately after the Ethereum Merge in September.

ETC has annihilated various key support areas at $35.00, $30.00 and $25.00 in its futile hunt for solid support. Ethereum Classic price now depends on near-term buyer congestion at $22.00 to validate a falling wedge pattern ahead of a foreshadowed move to $27.30.

The Stochastic RSI on the daily chart reveals that Ethereum Classic bulls are in the process of reclaiming control. First, they defended support at $22.00 and later pushed above $23.00 amidst highly oversold conditions.

A falling wedge is a bullish reversal pattern drawn by connecting an assets lower highs and lower lows using trend lines. As selling pressure gradually decreases into the patterns apex, the price tends to break above the upper level of resistance. A strong trend to the upside starts building as the price breaks above the wedge.

ETC/USD daily chart

Ethereum Classic price will be poised for a 15% bullish recovery if it leaps above the upper trend line resistance. Traders hoping for long positions in ETC will find this a strong buy signal.

The TD Sequential indicator has recently flashed a buy signal on the same daily chart. A red nine candlestick represents the call to buy into ETC while it gears up for a trend reversal. Bear in mind that buy orders are recommended if the low of the sixth and seventh candles is exceeded by that of the eighth and ninth bars in the count; see the chart below.

ETC/USD daily chart

Ethereum Classic price recovery might be a pipe dream on the other side of the fence, considering the drop in on-chain volume. Apart from minor sporadic spikes, the volume of transactions (335 million) on the Ethereum Classic blockchain is a meager reflection of the 5.47 billion in July 2022.

Ethereum Classic on-chain volume

A careful observation of this metrics impact on ETCs performance shows that such an extended drop inhibits price growth. Therefore, Ethereum Classic price may struggle with the expected uptrend. Investors hoping for another run to $45.66 may have to exercise patience as ETC navigates the stubborn bear market forces.

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Tug of war intensifies as Ethereum Classic price grinds closer to a 15% breakout - FXStreet

Ripple wants to bring Ethereum smart contracts to the XRP Ledger – Cointelegraph

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Ripple users may be able to interact with Ethereum-compatible decentralized applications (DApps) in the future following the launch of a test phase of Ripples new XRP (XRP) Ledger sidechain.

The launch of the sidechain was shared in a Tweet by blockchain development firm Peersyst Technologies on Oct. 17, noting that the new sidechain is compatible with Ethereum Virtual Machine (EVM).

This means that Ripple users could eventually have access to DApps like Uniswap (should it port over) and Web3 wallets such as MetaMask and XUMM Wallet.

The new sidechain also comes with a cross-chain bridge built to transfer XRP and other assets between the EVM-supported sidechain and the XRP Ledger Devnet.

According to RippleX software engineer Mayukha Vadari, the release means developers no longer have to choose between XRPL or EVM-compatible blockchains.

Developers will also be able to access XRPLs fast low-cost transactions and bring Solidity-based smart contracts onto XRPL, he said.

The XRP-based EVM-compatible sidechain was custom-built by the Tendermint protocol and aims to process 1000 transactions per second (TPS).

Vadari noted that the first phase of the EVM sidechain is now currently available for testing on the XRPL Devnet. Phase two will see the EVM-compatible sidechain transition to a permissionless chain with improved scalability.

Vadari said the aim is to achieve block times similar to that of the XRP Ledger for the second phase, which looks set to roll out in early 2023.

The end goal is phase three: a permissionless EVM sidechain and bridge available on the XRPL Mainnet, she added.

Related: Evolve or die: How smart contracts are shifting the crypto sectors balance of power

The news didnt appear to affect the price of Ripples XRP token too much, which is currently priced at $0.476 and is up 23.86% for the month.

The latest announcement comes amid a nearly two-year-long lawsuit against Ripple by the U.S. Securities Exchange Commission (SEC), which has arguably affected the adoption and development of the global settlement network.

Ripple also continues to make moves in the central bank digital currency(CBDC) spacesince it first piloted a CBDC Private Ledger for banks in March 2021, having most recently partnered with The Royal Monetary Authority of Bhutan in Sept. 2022.

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Ripple wants to bring Ethereum smart contracts to the XRP Ledger - Cointelegraph

Is Tether (USDT) built on Ethereum blockchain? – Kalkine Media

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Two of the biggest cryptocurrencies that rank just below Bitcoin are homophones of sorts. For quite some time, Ether (ETH) and Tether (USDT) became a cause for confusion for early cryptocurrency enthusiasts. Tether, however, is not only spelled differently and is an independent project but it is also not a typical cryptocurrency like Bitcoin or Ether. USDTs value must always match with that of the US dollar due to the 1:1 peg, which makes it a stablecoin.

Another question that many ask is whether Tether is based on Ethereums blockchain. Every cryptocurrency, including stablecoins, needs a distributed ledger to operate on. Does Tether use Ethereums network or does it have its own blockchain protocol? Let us explore the Tether ecosystem to find answers and understand the core characteristics of the stablecoin.

Tethers ecosystem comprises tokens but is not an independent blockchain. In Bitcoin, Ether, and other cryptocurrencies like Solana and Cardano, the cryptocurrency comes with a native blockchain protocol. Tether, however, is a plain stablecoin ecosystem where new tokens are issued with a claim that every USDT is backed by adequate reserves.

Tether is said to have begun with Bitcoins blockchain as its transport protocol. Here, tokens could be moved on the Omni Layer, but soon the use of Ethereums blockchain was favoured. Notably, Ethereum bills itself as a network for developers seeking to deploy decentralised products. One such product is ERC-20 tokens, and Tether falls in the same group. In fact, it is the biggest ERC-20 token by market cap. Tethers ecosystem also advises users to carefully undertake the transfer of tokens since it also uses other blockchains aside from Ethereum as a transport protocol.

Data provided byCoinMarketCap.com

Ether is the primary cryptocurrency of Ethereums mainnet with its utility as a payment token. Tether, on the other hand, is not a native cryptocurrency of any blockchain protocol. It is a token that can be issued on any blockchain network, including Ethereum, Algorand, and Solana. Tether bills itself as a digital token for quick payment transfers using blockchain, with a 1:1 value peg with the US dollar.

Tether uses blockchain technology to support the movement of USDT tokens from the sender to the recipient, with both having a specific address within the network. This blockchain can be Ethereum or any other, including Bitcoin. Tether now issues tokens pegged not only to the US dollar but also to other fiat currencies, including the Chinese yuan and the euro.

Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.

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Is Tether (USDT) built on Ethereum blockchain? - Kalkine Media

Bitcoin, Ethereum and XRP Price Prediction: On the Verge of Collapse – BeInCrypto

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Bitcoin (BTC) price is in the process of breaking out from a descending wedge. If successful, it would be expected to increase to $22,500. Ethereum (ETH) is trading in the upper portion of a corrective pattern. An eventual breakout is expected.

Even though the XRP price is trading inside a neutral pattern, the preceding trend indicates that an eventual breakout is expected.

BTC price has been falling underneath a descending wedge since reaching a high of $25,211 on Aug. 25. The descending wedge is considered a bullish pattern, meaning that a breakout from it is expected.

So far, the BTC price has reached a low of $18,125 on Sept. 21. The low seemingly caused a breakdown from the $18,800 horizontal support area.

Nevertheless, Bitcoin price regained its footing shortly afterward and reclaimed the support area, rendering the preceding breakout as only a deviation (green circle). This is a sign that often precedes movements in the other direction.

Moreover, the price of Bitcoin created a bullish hammer candlestick on Oct. 13 (green icon), further supporting the possibility of a breakout.

Finally, the bullish divergence trend line in the daily RSI is still intact, and the indicator is in the process of moving above 50.

If a Bitcoin price breakout occurs, the closest resistance area would be at $22,500.

So, there are numerous signs that suggest the most likely BTC price prediction is an upward movement toward $22,500.

ETH price has been falling underneath a descending parallel channel since Aug. 14. Similar to the descending wedge, the descending parallel channel usually leads to breakouts.

While decreasing inside it, the ETH price fell to a low of $1,190 on Oct. 13. While it initially seemed that this had caused a breakdown below the $1,280 horizontal support area, the Ethereum price reclaimed the area shortly afterward and created a long lower wick (green icon).

Afterward, ETH price moved above the middle of the channel. This is a sign that an eventual breakout is expected.

Additionally, the daily RSI is in the process of breaking out from its bearish trend line (green line), validating the possibility of an upward movement.

In a similar fashion to Bitcoin price, there are several signs that point to an Ethereum price breakout:

Unlike BTC and ETH, XRP price is trading inside a symmetrical triangle, which is considered a neutral pattern. However, since the pattern is transpiring after an upward movement and breakout from an ascending parallel channel, a breakout from it would be the most likely scenario.

Additionally, the growing hidden bullish divergence in the RSI (green line) is another sign that a breakout is expected.

If one occurs, the next closest resistance area would be at $0.64. This is both a Fib and horizontal resistance area.

A decrease below the wave C low of $0.44 (red line) would invalidate this possibility and indicate that XRP price is correcting instead.

While the price prediction is less bullish than those for BTC and ETH, the hidden bullish divergence and the preceding breakout from the channel support the continuation of the upward movement.

For BeInCrypto latestBitcoin(BTC) analysis and crypto market analysis,click here

Disclaimer: BeInCrypto strives to provide accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. You comply and understand that you should use any of this information at your own risk. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.

DisclaimerAll the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Bitcoin, Ethereum and XRP Price Prediction: On the Verge of Collapse - BeInCrypto

Ethereum-Based Altcoin Flashing Signal That Preceded 610% Rally: Crypto Analytics Firm – The Daily Hodl

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Crypto analytics firm Santiment says that virtual reality blockchain Decentraland (MANA) is quietly flashing an on-chain signal that has previously foreshadowed exponential rallies for the altcoin.

According to Santiment, MANAs profit/loss ratio, which compares the amount of coins sitting at a loss to those at a profit, is sitting at three-year lows.

The last time the profit/loss ratio was at the current level, MANA exploded 610%, as per Santiments data.

Decentraland is a fairly under-the-radar ERC20, non-fungible token (NFT) and virtual reality asset that saw its market cap shrink in 2022.

The profit/loss ratio of MANAs transactions is at its lowest level in three years. Those following six weeks saw its price rise +610%

At time of writing, the Ethereum-based altcoin is trading for $0.63, down over 89% from its all-time high of $5.85. A 610% gain for MANA would mean a rally all the way up to the $4.47 range.

Santiment also has its radar on leading oracle network Chainlink (LINK). According to the firm, LINKs price movements as of late are being preceded by massive spikes in social media activity.

Chainlinks market cap dropped ~5% Friday before bouncing just as the days trading (UTC time) closed. Three social dominance spikes appeared for LINK, indicating traders were making moves. The latest occurred just as the price began rising again.

Looking at Ethereum (ETH), Santiment says that ETH whales and sharks have been pushing down the price over the last five weeks. Based on the firms data, Ethereum addresses holding between 100 and one million ETH triggered both the relief rally in August and the correction of last month.

Ethereums shark and whale addresses (holding 100 to 1M ETH) have dropped 3.3 million ETH in just the past five weeks. This equates to about $4.2 billion in dumped coins. The assets price vs. Bitcoin has ebbed and flowed based on behavior of these key stakeholders.

At time of writing, ETH is trading for $1,308, up 1.66% in the last 24 hours.

Featured Image: Shutterstock/solarseven/Dario Lo Presti/Andy Chipus

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Ethereum-Based Altcoin Flashing Signal That Preceded 610% Rally: Crypto Analytics Firm - The Daily Hodl

Why Bitcoin- And Ethereum-Related Stock Silvergate Capital Is Getting Hammered – Silvergate Capital (NYSE – Benzinga

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Silvergate Capital Corp SI shares are trading lower by 15.70% to $59.68 during Tuesday's session after the company reported worse-than-expected third-quarterEPS and sales results.

What Happened?

Silvergate Capital reported quarterly earnings of$1.28per share which missed the analyst consensus estimate of$1.34.The company also reported quarterly sales of$89.34 millionwhich missed the analyst consensus estimate of$100.35 millionby11%. This sales figure representsa73%increase over sales of$51.70 million in the same period last year.

Alan Lane, president and chief executive officer of Silvergate, commented, "Silvergate delivered another quarter of strong performance, achieving record net income available to common shareholders of$40.6 million. While volumes on the Silvergate Exchange Network (SEN) decreased this quarter compared to the overall industry, we remain confident in the power of our platform and the opportunities for expansion within the network."

"We continued to see demand for our SEN Leverage product and growth in our new customer pipeline, a testament to the strength of our platform against a challenging backdrop in the broader digital asset industry," Lane stated.

See Also:As China Weakness, PC Market Downturn Take Toll On Semiconductor Sector Ahead Of Q3 Results, Analyst Recommends These Chip Stocks

According to data fromBenzinga Pro, Silvergate Capitalhas a 52-week high of $239.26 and a 52-week low of $50.65.

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Ethereum-Based Altcoin Project Jumps After Crypto Exchange Coinbase Adds It to Listing Roadmap – The Daily Hodl

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An Ethereum (ETH)-based altcoin is rallying following news that top US crypto exchange Coinbase has added the project to its listing roadmap.

Lido DAO (LDO), a staking service for Ethereum and other blockchain projects, has seen more than a 16% price increase in the days following Coinbases announcement via Twitter.

For transparency purposes, Coinbase adds projects to its listing roadmap as a precursor to making them available for trade on its exchange and announces the additions via Twitter.

Lido DAO and its ERC-20 token LDO aims to allow users to stake ETH without locking assets or maintaining infrastructure. When staking on the platform, users receive Staked Ether (stETH) on a 1:1 basis representing their staked ETH, and stETH balances can be used like regular ETH to earn yield or rewards.

At the time of the Coinbase announcement three days ago, the price of LDO was changing hands near $1.25. At time of writing, LDO is trading at $1.46, an almost 17% increase in price.

The Ethereum-based altcoin has a market cap of $1.01 billion, and is about 80% down from its all time high of $7.30.

Coinbase CEO Brian Armstrong previouslysaid the exchange would list as many crypto assets as possible after meeting simple standards.

Its kind of like Amazon or something like that where a product might have three stars or it might have five stars, but if it starts to get one star consistently, its probably fraudulent or defective or something and maybe Amazon will remove it. Otherwise, you want to let the market decide what these things are

My belief is theres gonna be millions of these assets over time, and so I hope it doesnt make news every time we add one in the future, basically.

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Kim Kardashians Ethereum Max ad violated the SECs anti-touting provision – Cointelegraph

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In June 2021, Kim Kardashian published an Instagram story informing her approximately 330 million Instagram followers about the EthereumMax (EMAX) crypto token. The Securities and Exchange Commission (SEC) charged Kardashian, claiming she violated the anti-touting provision of the Securities Act when she failed to disclose she received $250,000 in exchange for her promotion of the unregistered security.

The charges incited a public debate is the requirement to disclose the amount paid to promote an investment opportunity important?

Whats new? Celebrities and social media influencers have long enjoyed a lucrative revenue stream in promoting and endorsing services and products ranging from clothing to beauty products, and even supplements and medications. The Federal Trade Commission (FTC) regulates endorsements by requiring various acts and disclosures, including whether a financial relationship exists between the endorser and the company, whether a post was paid for and even by requiring an endorser to personally try a product before endorsing it. Still, the FTC does not go so far as to require endorsers to disclose the amount they were paid to promote a product.

Related: The SEC is bullying Kim Kardashian, and it could chill the influencer economy

So, whats different here? This time, the product is an investment opportunity falling under the watchful eye of the SEC. As is required by the FTCs Endorsement and Testimonial Guidelines, Kardashian made sure to include disclaimers such as #Ad and even this is not financial advice, but thats not sufficient under the SECs regulations, which also required Kardashian to disclose that she was paid $250,000 by EthereumMax to tout the token.

The SECs charges in response to Kardashians seemingly compliant post revealed what appears to be the beginning of the federal agencies heightened regulation and required transparency in connection with endorsements, specifically of highly speculative assets. The charges also beg the question just how much transparency is important?

Some will argue that Kardashians #Ad and this is not financial advice disclosures which would suffice under the FTCs requirements are enough to place her followers on notice that she is a biased, interested promoter of EthereumMax, and that the SECs anti-touting provisions requirement to disclose the exact amount of consideration is senseless. In other words, merely disclosing that she was paid $250,000 to promote the token would not have made a material difference to her followers in their decision to invest.

However, whether or not a particular disclosure is material to a potential investor is a question best answered by the investor in question. The SECs existence is predicated on protecting the investing public. To do so, potential investors should receive as much information as possible to assist them in their decision-making.

Although the difference between celebrities receiving $100,000 versus $200,000 for a social media post may not appear material to investors, a $1,000,000 check may alter potential investors perception about a celebritys inclination to make statements that conflict with or disregard their true beliefs, experience or even lack of knowledge. This tipping point in judgment may differ from investor to investor; therefore, such information should be disclosed and freely evaluated by the investing public.

The trend toward broader disclosure is prevalent. The FTC recently proposed an amendment to its Endorsement Guidelines on Digital Advertising to address the growing influencer market. Of relevance is Section 255.5, Disclosure of Material Connections, which proposes the clear and conspicuous disclosure of material connections that may materially affect the weight or credibility of the endorsement, including business, family, or personal relationships; monetary payments; the provision of free or discounted products or services to the endorser; early access to the product; or the possibility of winning a prize, of being paid, or of appearing on television or in other media promotions.

Related: Federal regulators are preparing to pass judgment on Ethereum

With such disclosures, the appeal of investing in the same companies as their favorite celebrities and influencers might be lost if fans realized the only connection between a celebrity and a promoted product was a hefty check. On the other hand, if followers are aware of a material connection between a celebrity and an endorsed product, they may be even more inclined to invest. Regardless, the argument remains the more information disclosed to the investing public, the more educated their decision-making can be.

SEC Chairman Gary Gensler wasted no time making media appearances to echo the same, warning the general public that celebrities incentives arent typically aligned with consumers best interests. In the SECs press release, Gensler emphasized that celebrities and influencers must be mindful that the law requires them to make heightened disclosures to protect individuals who may rely on them for financial advice.

Celebrities wield significant influence on their fan bases. Many who endorse investment opportunities do not have sufficient expertise to ensure that the investment is appropriate and complies with U.S. securities laws. As a result, celebrities such as Kardashian have the power to influence millions of individuals to make uninformed decisions solely based on their admiration, trust and loyalty.

Kardashians $1.6 million settlement is a reminder that the SEC has an exceptionally high interest in regulating highly speculative asset classes like crypto tokens and will continue to press charges against those with a great deal of influence for unlawfully touting crypto securities. The investing public should beware and always conduct their independent due diligence. The SEC should continue to require broad disclosures from endorsers to allow for and support such due diligence.

Gai Sher is senior counsel in the innovation and technology practice group and the corporate & business and entertainment & sports practice groups at Greenspoon Marder LLP. Originally from Israel, she attended Syracuse University for her undergraduate degrees before obtaining a Juris Doctor from Northeastern Universitys School of Law.

Ariela Benchlouch is a law clerk in Greenspoon Marder's innovation & technology practice group. With a background and passion for entertainment law, music, fashion, media, and blockchain technology, she previously held legal intern roles at LAA Sports & Entertainment and PlayOne NFT.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the authors alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

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Kim Kardashians Ethereum Max ad violated the SECs anti-touting provision - Cointelegraph

Analysis of Bitcoin (BTC) and Ethereum (ETH) – The Cryptonomist

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Last weekend saw the lowest trading volumes in months with the risk of creating strong price swings with large orders from a few traders.

Just as happened on Thursday 13 or Friday 14 October, a few leveraged orders caused a sharp increase in volatility then recovered over the weekend with prices falling back into the narrow trading range that for the entire week has caged prices within slightly more than $1,000 for Bitcoin and only $190 swings between the extreme low and high points for Ethereum.

A technical condition that is further driving down the volatility index that has slipped to its lowest levels in the last quarter.

Sentiment as measured by the Fear&Greed index also returns for the umpteenth time the 10th in the past 2 months to test the lowest threshold that opens to the Extreme Fear range indicating how tense nerves remain among crypto market participants.

The trend of the last few days does not change the overall technical picture with prices trying to recover the psychological threshold of $20,000.

The technical threshold to follow is the 20,500 area. Only a breach of this resistance level, accompanied by buying volumes, would begin to give a first sign of a desire to reverse the trend.

Similar technical structure for ETH with the advantage of having a better margin of safety in case of any descent.

Unlike Bitcoin, the price slide of the past few days did not go below the levels of the annual lows marked last June, confirming the safety zone where the price rebounded again by climbing back above $1,330, a step away from the relative highs recorded last week ($1,340).

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What USDCs diminishing dominance on Ethereum means for the stablecoin – AMBCrypto News

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According to a new Messari report, USDC was observed to be losing traction in the stablecoin market. BUSD on the other hand, was witnessing some growth. With new coins entering the stablecoin market and the ever-growing competition, it may become difficult for USDC to maintain its standing in the market.

One indicator of things not going USDCs way would be its dominance on Ethereum [ETH]. USDCs dominance on the ETH network fell 5% since July. Meanwhile, BUSDs dominance over the same network increased by the same 5% in the same time frame.

The USDC dominance, in early July 2022, had peaked and captured 44% of the Ethereum network. However, it slipped down to 39% at the time of press according to Messari. However, despite losing out on its dominance on the Ethereum network, the stablecoin managed to perform relatively well on Layer2 chains.

As can be seen from the image below, USDC grew significantly on L2 rollups, such as Arbitrum and Optimism. USDCs dominance on the OP network stood at 58%, while on Arbitrum stood at almost 75%.

Even though there was high dominance of USDC observed on both of these protocols, one of the reasons for the growth in the protocol could be attributed to the fact that simply fewer stablecoins were used on these L2s.

Taking a look at USDCs network growth on multiple networks could also give us an insight into the stablecoins future. As can be seen from the image below, the network growth on all three networks (Blue: Ethereum, Green: Optimism and Red: Polygon) declined over the past month.

This indicated that the amount of new addresses that transferred a USDC for the first time declined. This implied that new addresses were losing interest in the stablecoin.

However, over the past few days, there was an uptick in USDCs network growth on the Polygon network a good sign for USDC.

Despite USDCs fluctuating dominance, it was observed that it still maintained lead in terms of transfer volume. As can be seen from the image below, USDC accounted for 54.5% of the stablecoin transfer volume at press time.

At the time of writing USDC also stood second in terms of market capitalization at $45 billion. Its volume also registered a growth of 10.39% in the last 24 hours.

Even though BUSD showed some improvements, the stablecoins market cap was at 21 billion and still had a long way to go to catch up with USDT and USDC.

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What USDCs diminishing dominance on Ethereum means for the stablecoin - AMBCrypto News

Ethereum PoS: the SEC wants to enforce Know Your Customer on staking – The Cryptonomist

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After the move to PoS, the SEC wants to impose the Know Your Customer practice on Ethereum staking.

Over the past two years, the cryptocurrency industry has had to endure numerous attacks both from the US political world, but especially from the SEC, the US financial market regulator led by Gary Gensler, which has put many cryptocurrency companies under fire.

The sensitive issue revolves around treating cryptocurrencies as securities, which, since they are not regulated, would violate the SECs own established principles for securities.

Clearly, the most striking case is the one in which the SEC is engaged in a trial, which has been going on for about two years now, against Ripple, accused of having sold in 2020 securities without having the authorization to do so. The case finally seems to be coming to a head, considering that Ripple has asked the court for an abbreviated judgment, after having achieved a series of trial successes, which seem to have put the SECs back against the wall.

But Ripple is only the most sensational case, but there are many other instances in which the SEC has tried to put a spoke in the wheels of the development of the crypto sector in the world of finance, such as when it continues to ban the issuance of spot ETFs, and that is, directly parameterized on the prices of the underlying Bitcoin.

In this regard, in recent months Grayscale has sued the Gensler-led exchange authority, challenging the latters decision to deny its request to convert the Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF.

Just as some exchanges such as Binance had to undergo investigations again by the SEC for an alleged violation of the regulatory regime on the sale of unauthorized tokens. Similarly, the SEC sued the company BlockFi for selling a crypto lending product. In February, the company settled the dispute by paying a $100 million fine.

But now the indiscretion coming from some industry observers and analysts is that the US authoritys next target could be Ethereum after its new Merge update, which could pose some issues again on the selling side of securities.

Immediately after the new update went live that initiated the Proof of Stake consensus system instead of the Proof of Work system, SEC Chairman Gary Gensler said that these types of cryptocurrencies that use this system should be considered securities for all intents and purposes and should be treated as such from a regulatory perspective.

Gensler pointed to the profit that would be derived from PoS, which would be a profit made from the effort. This fact would be one of the crucial points of the famous Howey test, used by the SEC to determine whether an asset is an investment product, and therefore must be subject to the rules set by the SEC.

Staking, according to the SEC Chairman, would be for all intents and purposes comparable to lending services, and therefore should be carefully subjected to the strict rules set by the financial authorities to avoid risks of fraud and criminal acts.

And that is why the US authorities would like all Ethereum validators to be subject to Know Your Customer (KYC) and AML regulations, which would be the anti-money laundering regulations.

The large presence of Ethereum blockchain nodes on US soil would also bring Ethereum under US jurisdiction, which is why it is very likely that the authorities will soon require all companies and developers working on the blockchain to comply with the rules set forth by KYC, which is designed to protect financial institutions from fraud, corruption, money laundering and terrorist financing. Know Your Customer involves several steps to

It may be very complicated that companies such as crypto companies can easily fulfill such procedures, considering the nature of disintermediation and decentralization that characterizes them.

Then again, once crypto companies manage to comply with these rules, it will become much easier for some institutional investors to approach the cryptocurrency market.

But going back to the SEC in recent months, they seem to be very concerned about the development of DeFi, which in large part makes use of Ethereums very own blockchain, and here the change made by Ethereum could offer the US authority the casus belli to attack the sector and succeed in regulating it to avoid distortions that could, in its view, jeopardize the stability of the traditional financial system.

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This Bored Ape NFT Just Sold For $107,412 in ETH – Ethereum (ETH/USD) – Benzinga

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The Bored Ape Yacht Club (BAYC) is an exclusive community for holders of the ape and mutant themed NFT collections on Ethereum's blockchain. Commonly referred to as the Bored Apes, only 10,000 generative art pieces will ever be in existence.

What happened: Bored Ape #7250 just sold for 82.00 ETH ETH/USD ($107,412 USD). The value of Bored Apes is typically determined by the Ape's attributes, with the laser eyes, crown, and golden fur traits being the most coveted.

Here are a list of its attributes and how many others have the same trait:

Why it Matters: Bored Apes are the ultimate store of culture for NFT collectors. The NFT collection has gained huge influence in 2021, with an ever growing list of top tier celebrities making apes their profile pictures on Twitter. With the recent explosion in popularity surrounding the Metaverse, rare blockchain-based avatars are all the rage for those looking to flex online.

Being a member of the Bored Ape Yacht Club is not just about flexing online. Yuga Labs, the creators of the Bored Apes throw exclusive parties often with free private performances from members of the club such as Lil Baby. Other notable celebrities in the club include Post Malone, Stephen Curry, Dez Bryant, and Jimmy Kimmel.

Yuga Labs also created another NFT collection known as the Mutant Apes, which also provides membership to the elusive club. There are a total of 20,000 Mutant Apes, and the price floor is historically lower than the Bored Apes.

See Also: NFT Release Calendar and Best NFT Projects of 2021

Data provided by OpenSea.

Checkout the full Bored Ape Yacht Club collection

You can learn more about this NFT here.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

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This Bored Ape NFT Just Sold For $107,412 in ETH - Ethereum (ETH/USD) - Benzinga

Frax Finance To Launch Liquid Staking Protocol on Ethereum – Coin Culture

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Within two weeks, decentralised stablecoin issuer Frax Finance will make its liquidstakingtechnology on Ethereum publicly available.

The launch will enable users to stake ether (ETH) and get Frax Ether (frxETH), a liquid derivative token designed to unleash the value of staked tokens. The derivative will reflect ethers price and be freely transferable on other DeFi protocols.

Frax Ether is a liquid ETH staking derivative. Image: Frax Finance

Everything will be fully available publicly within two weeks, barring anything unforeseen, but the full system is already live, and is already proposing blocks, Frax core developer Jack Corddry told The Block.

Frax has completed a security audit of its liquid staking token in preparation for its mainnet launch. The project has also installed a Curve pool, allowingfrxETHto be exchanged for ETH with minimal or no slippage.

Frax Finances stablecoin relies on collateral and algorithmic techniques to maintain a 1:1 peg with the U.S. dollar. Dollar. Its stablecoin is partially supported by hard collateral, notablyUSD Coin (USDC), and partially by FXS, Frax Finances native governance token.

Fraxs decentralised liquid staking product will compete with protocols like Lido Finance and RocketPool. The Frax team stated, Get ready for the most interesting ETH liquid staking derivative released by a major stablecoin issuer.

Additionally, Frax Finance operates the decentralised exchange Fraxswap and the financing platform Fraxlend.

First, customers stake their ETH using Frax ETH Minter, a function that mints the liquid derivative related to the deposited ETHs underlying value.

Frax will leverage its customers ETH to generate and distribute a staking income via spinning Ethereum validators. By allowing individuals to delegate their assets to the protocol, this method aims to simplify the process of establishing validators.

Users must swap the first derivative token (frxETH) for Staked Frax Ether (sfrxETH), a second token that will accrue staking yield from Fraxs Ethereum validators.

This second token will earn interest and increase in value over time relative to ether. The interest can be collected by the conversion of sfrxETH tofrxETH.

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Jitsi GitHub

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Jitsi GitHub

Welcome to the Jitsi organization, home to the Jitsi projects.

Jitsi Meet - Secure, Simple and Scalable Video Conferences that you use as a standalone app or embed in your web application.

JavaScript 18.7k 5.9k

Jitsi Videobridge is a WebRTC compatible video router or SFU that lets build highly scalable video conferencing infrastructure (i.e., up to hundreds of conferences per server).

Kotlin 2.7k 945

A low-level JS video API that allows adding a completely custom video experience to web apps.

JavaScript 1.2k 1k

Jigasi: a server-side application acting as a gateway to Jitsi Meet conferences. Currently allows regular SIP clients to join meetings and provides transcription capabilities.

Java 434 260

Jitsi Meet on Docker

JavaScript 2.6k 1.2k

Jitsi Meet desktop application powered by

JavaScript 1.3k 410

Jitsi Meet - Secure, Simple and Scalable Video Conferences that you use as a standalone app or embed in your web application.

A low-level JS video API that allows adding a completely custom video experience to web apps.

JItsi COnference FOcus is a server side focus component used in Jitsi Meet conferences.

Jitsi Videobridge is a WebRTC compatible video router or SFU that lets build highly scalable video conferencing infrastructure (i.e., up to hundreds of conferences per server).

Jigasi: a server-side application acting as a gateway to Jitsi Meet conferences. Currently allows regular SIP clients to join meetings and provides transcription capabilities.

Link:

Jitsi GitHub

Enhanced noise suppression in Jitsi Meet – Jitsi

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Blog

For a while now Jitsi Meet has been using the RNNoise library to calculate voice audio detection scores for audio input tracks and leveraging those to implement functionality such as talk while muted and noisy mic detection. However, RNnoise also has the capability to denoise audio.

In this article well briefly go through the steps taken to implement noise suppression using RNnoise in Jitsi Meet.

Whats RNNoise anyway?

RNNoise, as the authors describe it, combines classic signal processing with deep learning, but its small and fast, this makes it perfect for real time audio and does a good job at denoising.

Its written in C which allows us to (relatively) easily use it on the Web by compiling it as a WASM module, that combined with a couple of optimizations gets us noise suppression functionality with very little added latency.

Working with Audio Worklets

Previously Jitsi Meet processed audio using ScriptProcessorNode which handles audio samples on the main UI thread. Because the audio track wasnt altered and we simply extracted some information from a copy of the track, performance issues werent apparent. With noise suppression the track gets modified, so latency is noticeable, not to mention that any interference on the main UI thread will impact the audio quality, so we switched to audio worklets.

Audio worklets run in a separate thread from the main UI thread, so samples can be processed without interference. We wont go into the specifics of implementing one as there are plenty of awesome resources on the web such as: thisand this. Our worklet implementation can be found here.

Webpack integration

Even though using an audio worklet looks fairly straightforward there were a couple of bumps along the road.

First off, and probably the most frustrating part was making them work with webpacks dev server.

Long story short, the dev server has some neat features such as hot module replacement and live reloading, these rely on some bootstrap code added to the output JavaScript bundle. The issue here is that audio worklet code runs under the AudioWorkletGlobalScopes context which doesnt know anything about constructs like window, this or self, however the aforementioned boilerplate code makes ample use of them and there doesnt seem to be a way to tell it that the context in which its running is a worklet.

We tried several approaches but the solution that worked for us was to ignore the dev server bootstrap code altogether for the worklets entry point, which can be configured in webpack config as follows:

That took care of the dev server, however production webpack bundling also introduced boilerplate which made use of the forbidden worklet objects, but in this case its easily configurable by specifying the following output options:

At this point we had a working worklet (pun intended) that didnt break our development environment.

WASM in audio worklets.

Next came adding in the RNnoise WASM module. Jitisi uses RNnoise compiled with emscripten (more details in the project: https://github.com/jitsi/rnnoise-wasm). With the default settings the WASM module will load and compile asynchronously, however because the worklet loads without waiting for the resolution of promises we need to make everything synchronous, so we inline the WASM file by passing in -s SINGLE_FILE=1 to emscripten and we also tell it to synchronously compile it with -s WASM_ASYNC_COMPILATION=0. With that in place everything will be loaded and ready to go when audio samples start coming in.

Efficient audio processing.

Audio processing in worklets happens on the process() callback method in the AudioWorkletProcessor implementation at a fixed rate of 128 samples (this cant be configured as with ScriptProcessorNodes), however RNnoise expects 480 samples for each call to its denoise method rnnoise_process_frame.

To make this work we implemented a circular buffer that minimizes copy operations for optimal performance. It works by having both the buffered samples and the ones that have already been denoised on the same Float32Array with a roll over policy. The full implementation can be found here.

To summarize, we keep track of how many audio samples we have buffered, once we have enough of them (480 to be precise) we send a view of that data to RNnoise where it gets denoised in-place (i.e. no additional copies are required). At this point the circular buffer has a denoised part and possibly some residue samples that didnt fit in the initial 480, which will get processed in the next iteration. The process repeats until we reach the end of the circular buffer at which point we simply start from the beginning and overwrite stale samples; we consider them stale because at this point they have already been denoised and sent.

The worklet code gets compiled as a separate .js bundle and lazy loaded as needed.

Use it in JaaS / using the iframe API

If you are a JaaS customer (or are using Jitsi Meet through the iframe API) we have added an API command to turn this on programmatically too! Check it out.

Check it out!

In Jitsi Meet this feature can be activated by simply clicking on the Noise Suppression button.

Since in this case a sound file is probably worth more than 1000 words, here is an audio sample demonstrating the denoising:

Original audio:

Denoised audio:

Your personal meetings team.

Author: Andrei Gavrilescu

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Enhanced noise suppression in Jitsi Meet - Jitsi

How Blockchain Can Be a Creative Disruptor of Business – News @ Northeastern – Northeastern University

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Blockchaina highly encrypted method of transmitting data across a networkfirst came to public consciousness with the rise of cryptocurrencies like Bitcoin and Ethereum, but major businesses have been slow to adopt the technology.

Now, a new book by Northeastern professor of international business and strategy Ravi Sarathy, Enterprise Strategy for Blockchain: Lessons in Disruption from Fintech, Supply Chains, and Consumer Industries, explores the whys behind this reticence and offers solutions to the problems blockchain still presents.

Blockchain relies on a distributed network of computers to provide a very high standard of encryption, Sarathy says, in which member computers within the network collectively validate transactions.

When a transaction is certified, it gets added to a block, each of which contains information about transactions in the previous blocks. As these blocks stack up, they form a chain, an immutable digital record, or ledger, of every transaction thats ever occurred along that blockchain, Sarathy says. You can go all the way back to 2009, when the very first Bitcoin transaction happened, and literally trace every transaction in every Bitcoin thats ever been created.

Thanks to these collective validations, he says, blockchains are very secure. The Bitcoin network itself has never been hacked. Wallets have been hacked, where people store Bitcoin, [and] exchanges have been hacked, which store Bitcoin on behalf of the client, but the Bitcoin blockchain itself has remained secure.

According to Sarathy, these secure, distributed digital records represent the next great disruptor to traditional business. Disruption is important in all kinds of industry, Sarathy says, because it represents a force of creative destruction.

Describing what creative destruction looks like, Sarathy cites the rise of digital photography over the past 20 to 30 years. On one hand, digital photography all but exterminated the big business of chemical-film photography; on the other hand, the disruption of that industry allowed for the proliferation of photography into the hands of anyone who owns a smartphone, and a whole new marketplace for both digital photographs and new camera equipment.

So how might blockchain unseat heretofore standard ways of doing business?

Essentially, Sarathy says, blockchain promises to simplify some of businesses most common day-to-day activities, from validating the authenticity of complex exchanges to removing middlemen from web-based transactions.

Traditionally, intermediaries like banks provide assurance between two parties who exchange one thing for another. After providing a product, a seller might wonder, How am I going to make sure I get paid? The bank stands for that kind of counterparty trust. Sarathy says, but the bank charges a fee.

With a blockchain solution, a decentralized network, users can directly transact with one another without the need for an intermediary.

Take supply chains, a field thrown into sharp relief by the COVID-19 pandemic. Traditional supply chains relied on bills of lading, Sarathy notes, to provide both proof that the goods were on the ship, but also title to those goods. And you can trade [bills of lading] between parties.

But, Sarathy is quick to note, these are all paper documents, subject to damage, loss, theft, forgery and simple mistakes.

Blockchain technology, however, provides a means of instantaneous exchange, not just of data, but of value itself.

Enterprise Strategy for Blockchain also addresses the factors that have made companies hesitant to adopt the technology. For one, because blockchain relies on a large network of computers, the validation process can take time.

Further, because blockchain is so computing intensive, it requires high levels of electrical power, a fact often raised by climate change activists. But Sarathy notes that Ethereuma cryptocurrency similar to Bitcoinhas recently adopted new protocols that both make the blockchain more energy efficient and faster.

The idea of disruption itself can come across as a negative, and one of the hurdles companies will have to overcome is an organizational reluctance to change, Sarathy says. Large businesses are hierarchical, and incorporating decentralized processes can seem too large an ask.

But, Sarathy says, the promises of blockchain technology, like financial inclusion, more secure voting technologies and instantaneous transfer of value, outweigh the obstacles to its adoption.

Businesses are part of an ecosystem. Sarathy says. Good strategy sometimes requires companies to collaborate across ecosystems.

Enterprise Strategy for Blockchain was published by MIT Press on Oct. 11. As part of the books launch, Sarathy will hold a free public webinar and Q&A, hosted by MIT Sloan Management Review, on Oct. 19. You can register for the event here, which will provide access to a recording of the webinar.

For media inquiries, please contact media@northeastern.edu.

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ChainSafe raises $18.8M to support Web3 developers and blockchain infrastructure – SiliconANGLE News

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Blockchain infrastructure and implementation technology firm ChainSafe Systems Inc. said today it has raised $18.75 million in early-stage funding to expand its developer products.

The Series A funding round, led by digital asset-focused venture capital fund Round13, also included participation from new investors NGC Ventures, HashKey Capital, Sfermion, Jsquare and returning investors ConsenSys, Digital Finance Group and Fenbushi Capital.

ChainSafe was launched in 2017 after its founders met during an Ethereum meetup in Toronto, Canada. Together they had a vision of producing a safe way for users to keep cryptocurrency in cold storage on a mobile device. However, it became clear to the team that their technical expertise could be used to provide a much broader collaboration for services to the community in general with potential blockchain projects.

Since that time, the company has grown into an infrastructure developer that provides protocol and developer platform tools. One is the Web3.js library, which allows developers to interact with local or remote Ethereum blockchain nodes using web sockets. It allows web pages and other front-end code to interact directly with blockchain code, making it possible to write user interfaces for decentralized applications.

The company also provides ChainSafe Storage, an underlying layer app for end-to-end encrypted file storage that provides automatic, simple access to the blockchain-based storage systems InterPlanetary File System and Filecoin. Developers can use it as an easy migration path away from cloud-based storage to decentralize any Web 2.0 storage layer that is compatible with Amazon Simple Storage Service.

ChainSafe also offers a flagship product called web3.unity, a software development kit designed to provide a base layer for blockchain-enabled gaming by providing the tools to connect to the Unity cross-platform game engine. Web3.unity is designed to ease the building process for blockchain games and simplify the production of blockchain-based and cryptocurrency assets into games.

ChainSafe was started with a vision that decentralized technologies could change the world, said Aidan Hyman, co-founder and chief executive of ChainSafe. As time has progressed, the importance of our contributions has become increasingly clear.

The company said more than 100 teams are currently using the SDK, which is a cross-chain bridging solution to connect major blockchains including Ethereum, Polygon and Avalanche. It has so far secured more than $600 million in cross-chain token transfers for the gaming projects it has been used in.

Blockchain technology enables the creation of nonfungible tokens, a type of crypto asset that allows provable ownership of digital assets, including video game items, such as avatars, cosmetics, weapons, buildings and digital land. It can be used to create entire virtual economies where these assets can be created, bought, sold and traded for traditional currencies, allowing both players and developers to earn money from gameplay in a model called play-to-earn.

Gaming leads trading volume for NFTs, which has grown from $135 million to $64 billion since December 2020, and the blockchain gaming industry grew over 2,000% in the past year, attracting more than $2.5 billion in investments. Its an opportunity for crypto game players where gaming assets remain in their own digital wallets and retain some sort of tradable if sometimes volatile value. Still, the majority of traditional gaming enthusiasts do not find NFTs compelling and their introduction to AAA gaming generated an intense backlash in that community.

With the new funding, the company said, it will accelerate the development of open-source tools and infrastructure for developers to help push blockchain adoption to the next level. ChainSafe currently employs more than 120 employees across 33 countries and intends to continue to expand its team.

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ChainSafe raises $18.8M to support Web3 developers and blockchain infrastructure - SiliconANGLE News

The future of blockchain: Why decentralisation is here to stay – SiliconRepublic.com

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Trinity researcher Dr Hitesh Tewari is exploring a number of ways in which blockchain technology can pave the way for data privacy.

From its humble beginnings to becoming the first decentralised cryptocurrency, bitcoin has come a long way.

The bitcoin protocol, which has an immutable, distributed blockchain at its core, has since inspired others to spawn numerous blockchain-based cryptocurrencies and tokens.

From there, new concepts continued to evolve, from smart contracts that are locked into the blockchain to non-fungible tokens that can represent real-world items such as artwork and real estate.

While the latter is rightfully treated with some scepticism, the core blockchain technology is a powerful instrument as we move forward in the digital transformation space.

Dr Hitesh Tewari is an assistant professor in the School of Computer Science and Statistics at Trinity College Dublin. His research has spanned computer networks, electronic payment systems, cryptography and blockchain technology.

In September, Trinity was listed among the top 50 universities for blockchain by CoinDesk.

Researchers like myself have been using the blockchain to redesign centralised networks (fixed and mobile) for a decentralised environment, in order to make them more transparent, secure and robust, Tewari told SiliconRepublic.com.

In 2017, I along with my team, demonstrated an elegant solution to a long-standing electronic voting dilemma, and developed a fully auditable and anonymous e-Voting protocolby making use of a cryptocurrency called Zcash. I am also utilising my expertise in zero-knowledge protocols (ZKPs) to develop privacy-preserving smart contracts for strengthening the area of user privacy.

Any time we are using social media, accessing smart devices or paying for things online, we are leaving digital footprints all over the internet.

But as we become more privacy conscious, the need to have control over our personal data has become more important than ever. Thats where the uses of blockchain can come in.

Tewaris current research focuses on decentralised privacy-preserving systems, from autonomous vehicle security to next-generation cryptocurrencies.

With the internet increasingly under the control of a small number of major tech firms, he has created a framework for a decentralised internet where end users are in control of their data and their digital footprint is kept private.

The genie has been let out of the bottle and decentralisation is here to stay HITESH TEWARI

In the e-health space, I have developed a healthcare management ecosystem that allows a patients medical records to be stored securely and anonymously on a blockchain. This enables data to be mined by third parties to determine healthcare trends etc, without them inferring personal details of individual patients, he explained.

Additionally, with connected and autonomous vehicles increasingly being fitted with complex sensors and processors, Tewari is actively researching secure vehicle-to-everything communications using blockchain.

Blockchain-based cryptocurrencies have been consistently making headlines in recent years, with some dubbing decentralised finance (DeFi) systems as the Wild West of banking.

The idea of a fully anonymous blockchain-based cryptocurrency or a DeFi that is not under the control of a national government terrifies the incumbents, who desperately want to maintain the status quo that has been in place for the past century, said Tewari.

Central banks around the world are scrambling to come up with their own cryptocurrency offerings, also known as stable coins, which are pegged for example to the US dollar, euro etc.

European finance chief Mairead McGuinness said earlier this year thatabill to introduce a digital euro could be tabled in the EU early next year, while Joe Biden signed an executive order with a plan for digital assets in the US, including the potential for a digital dollar.

I believe that as blockchain-based cryptocurrencies become more mature and start addressing some of the big challenges such as increasing the number of transactions per second and reducing energy consumption, big e-commerce players such as Amazon and Alibaba etc will start accepting such cryptocurrencies as payment for goods and services, Tewari added.

But while cryptocurrencies are gaining popularity, the environmental toll associated with securing transactions on the blockchain is something that needs to be considered.

With the heightened awareness of the devastating effects that climate change has on our planet, I propose to develop energy efficient and high transaction throughput protocols for the next-generation of cryptocurrencies by developing novel consensus mechanisms, lightweight cryptographic protocols, etc, Tewari said.

He added that in conjunction with mass adoption by end users, there will be less volatility in the price of these crypto tokens as they will start to play an important functional role in the global financial system.

I also believe that in the future ZKPs will be increasingly employed to preserve the privacy of end users, while providing irrefutable proof of identity, payment and fulfilment of contracts to the providers of goods and services in todays increasingly digital world, he said.

The genie has been let out of the bottle and decentralisation is here to stay.

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Blockchain-Based Platform Created by Saudi Students Places Third in National Women’s Coding Competition Blockchain Bitcoin News – Bitcoin News

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A blockchain-based tender bidding platform that was designed by female university students has been named the third-best entry in a Saudi Arabian womens coding competition. The competition is said to be part of Princess Nourah bint Abdulrahman Universitys broader goal of supporting and empowering women in Saudi Arabias technology sector.

A blockchain-based bidding platform created by female students at the Saudi Arabian learning institution Imam Abdulrahman bin Faisal University was recently recognized as one of the three best projects in this years coding competition. Known as Bidchain, the bidding platform came third in the competition.

According to a report by Laraontheblock, the coding competition, also known as She Codes 2022, was conducted under the auspices of the Saudi Arabian Ministry of Education along with Princess Nourah Bint Abdulrahman University. The competition is said to be part of Princess Nourah bint Abdulrahman Universitys broader goal of supporting and empowering women in Saudi Arabias technology sector.

In addition to working with the government on the coding competition, Enas bint Suleiman Al-Issa, the president of the university, revealed at the award ceremony that her institution is also organizing local and international partnerships as well as holding exhibitions and specialized forums for women.

Meanwhile, in one of the videos of the event shared by Nourah Bint Abdulrahman University, one of the students behind the blockchain project said she was pleased with the recognition. The unnamed student who spoke in Arabic added the bidding platform, which was created to solve problems in tender processes, is just the beginning.

While the blockchain-enabled Bidchain platform is this years competitions bronze-winning project, two projects that use artificial intelligence (AI) came first and second. The winning entry, Sonbul, is an edutainment application which teaches kids the principles of saving and investment. An application designed for early detection of metastatic breast cancer in lymph nodes using AI came in second.

What are your thoughts on this story? Let us know what you think in the comments section below.

Terence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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ARPA Chain Rebrands as ARPA Network Aiming to Spur Blockchain Evolution – AccessWire

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Leading MPC protocol pivots to TSS-BLS, building better permissionless computation infrastructure

SINGAPORE / ACCESSWIRE / October 18, 2022 / ARPA Chain, a blockchain-based solution for secure privacy-preserving computation enabled by Multi-Party Computation (MPC), is rebranding as ARPA Network (ARPA) as it switches its focus from general-purpose MPC to Threshold BLS Signature Schemes (TSS-BLS), a subset of MPC.

ARPA Chain was founded in 2018 as a privacy-preserving MPC network, and its Alpha Mainnet has completed over 224,000 computation tasks in the last 2.5 years alone. Its experience in MPC and cryptography laid the groundwork for its innovative TSS-BLS system design and led the team to the new ARPA.

ARPA is a blockchain-adapted decentralized secure computation network employing matured cryptographic algorithms. It aims to further push the boundaries of blockchain and ultimately enable more blockchain use cases via Threshold Signature Scheme - from serving as verifiable random sources for metaverse, games, and NFTs, powering wallets with social recoverability and flexible key management policy, and safeguarding cross-chain transactions. Since TSS networks are sometimes criticized for being slow, ARPA designed a unique grouping mechanism that enables multiple groups of nodes to participate in the completion of BLS signature tasks simultaneously, which significantly increases the throughput.

On top of that, to better cater to developers' needs across multiple ecosystems, ARPA builds the network to support multiple blockchains and allow developers to customize their signature policy according to different security levels required by different applications. Meanwhile, its property of decentralization allows the participation of individual node operators in a permissionless manner, which helps disperse risk by eliminating the possibility of a single point of failure.

While ARPA's nature of decentralization strengthens physical tamper protection, its token economics design stemmed from game theory also helps to distinctly restrain malicious intent and greatly improve the network's security level. Therefore, the network's utility token $ARPA plays a critical role in maintaining a permissionless and self-sustaining ecosystem. For example, $ARPA token can serve as incentives for BLS computation task completion. When a client initiates a computation task, ARPA system distributes the task and summons participants to help fulfill it, promising ARPA tokens if successful. On the other hand, the client may need to pay a service fee or make a security deposit when setting up computation nodes in $ARPA as well.

Going forward, ARPA will serve as the infrastructure for many blockchain applications, including verifiable Random Number Generator (RNG), secure wallet, cross-chain bridge, and decentralized custody across multiple blockchains. While working intensively on the development of the network, the team is also building ARPA's first showcase, Randcast, a verifiable RNG that offers on-chain generated random sources while being secure and verifiable under low-cost. Randcast can be utilized across multiple blockchains in a wide variety of use cases where fairness and transparency are essential, including metaverse gaming, lottery, NFT minting and whitelisting, key generation, and blockchain validator task distribution. The ARPA team is working on the Devnet launch in Q4 2022, and the Mainnet launch in Q1 2023.

For developers interested in building on ARPA, please feel free to sign up for updates. The full-text whitepaper is available on the new website.

About ARPA

ARPA Network (ARPA) is a decentralized secure computation network built to improve the fairness, security, and privacy of blockchains. ARPA threshold BLS signature network serves as the infrastructure of verifiable Random Number Generator (RNG), secure wallet, cross-chain bridge, and decentralized custody across multiple blockchains.

ARPA was previously known as ARPA Chain, a privacy-preserving Multi-party Computation (MPC) network founded in 2018. ARPA Mainnet has completed over 224,000 computation tasks in the past years. Our experience in MPC and other cryptography laid the foundation for our innovative threshold BLS signature schemes (TSS-BLS) system design and led us to today's ARPA Network.

Randcast, a verifiable Random Number Generator (RNG), is the first application that leverages ARPA as infrastructure. Randcast offers a cryptographically generated random source with superior security and low cost compared to other solutions. Metaverse, game, lottery, NFT minting and whitelisting, key generation, and blockchain validator task distribution can benefit from Randcast's tamper-proof randomness.

For more information about ARPA, please contact [emailprotected].

Official Website: https://arpanetwork.io/Discord: https://dsc.gg/arpa-networkGitHub: https://github.com/ARPA-NetworkTwitter: https://twitter.com/arpaofficialMedium: https://arpa.medium.com/Telegram: https://t.me/arpa_communityLinkedin: https://www.linkedin.com/company/arpachain/

SOURCE: ARPA

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