Monat: April 2024

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Ankr and Brevis coChain partner to enhance web3 networks with ZK

  • Ankr and Brevis coChain join hands to revolutionize Web3 with zero-knowledge technology.
  • Brevis enables smart contracts to utilize blockchain data securely for innovative applications.
  • Ankr’s RaaS platform enhances scalability and interoperability for decentralized services.

Ankr, a leading player in the blockchain space, has teamed up with Brevis coChain to revolutionize Web3 networks.

The collaboration marks a significant milestone in the blockchain industry, as it aims to address key challenges such as scalability, security, and interoperability.

Pioneering ZK technology coprocessing technology

Brevis coChain, renowned for its zero-knowledge (ZK) coprocessing technology, brings a game-changing solution to the table.

By leveraging ZK coprocessing, smart contracts can now access and utilize historical blockchain data for computations in a secure environment. This breakthrough not only enhances the functionality of smart contracts but also opens up new avenues for decentralized applications (DApps) across various blockchain networks.

Ankr’s role as mainnet AVS operator

In the partnership, Ankr assumes the crucial role of the Mainnet AVS Operator. Ankr’s expertise in providing robust infrastructure for blockchain networks ensures the smooth functioning of Brevis coChain’s innovative solutions.

Through Ankr’s Rollups as a Service (RaaS) platform, developers can create complex DApps that leverage Brevis coChain’s zero-knowledge coprocessing capabilities, thereby enhancing the overall performance and efficiency of Web3 networks.

Brevis coChain’s integration with EigenLayer further enhances its capabilities. By utilizing EigenLayer’s cutting-edge technology, the coChain AVS (Account Verification System) enables seamless verification of transactions through zk-rollup proofs. This not only reduces operational costs but also improves processing time, making it a win-win solution for users and developers alike.

The collaboration between Ankr and Brevis coChain is not just about technological advancements; it’s about fostering a more inclusive and interconnected blockchain ecosystem. By promoting cross-chain compatibility and secure information sharing, they pave the way for the widespread adoption of decentralized finance (DeFi) and other blockchain applications.

The post Ankr and Brevis coChain partner to enhance web3 networks with ZK appeared first on CoinJournal.

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Three major UK banks experimenting with tokenised deposits amid ‘Britcoin’ uncertainty

  • Barclays, Lloyds, and Citi banks experimenting with tokenised deposits.
  • The trial aims to explore digital banking potential amidst the uncertain future of ‘Britcoin’.
  • BIS’s Agora project and UK government support reflect the global push for advanced financial systems.

In a bid to explore innovative financial technologies, three major British banks — Barclays, Lloyds Banking Group, and Citi — have commenced a trial to test tokenised deposits.

The trial, which began in February and involves collaboration with global payment giants Mastercard and Visa, aims to delve into the potential of digital banking solutions.

The future of UK’s Britcoin remains uncertain

The tokenized deposit trial comes at a time when the future of the digital pound, colloquially known as ‘Britcoin,’ remains uncertain despite initial explorations by the Bank of England in 2021.

In January, 2024, the UK Treasury and the Bank of England (BOE) announced a significant step forward in the development of the digital pound after a consultation process that garnered over 50,000 responses reflecting widespread interest and engagement in the initiative.

While the UK government supports digital finance innovations, there is a pressing need for clear regulatory guidelines to support tokenization initiatives within the banking sector.

The adoption of tokenised assets

Driven by a government-backed report urging local companies to adopt tokenisation technology, the UK is witnessing increased interest in digitising banking processes. Tokenised deposits offer the promise of enhanced efficiency and security in financial transactions, potentially revolutionizing traditional banking practices.

Internationally, the Bank for International Settlements (BIS) has launched Agora, a project aimed at connecting central and commercial banks through a shared infrastructure. The initiative, which includes participation from notable institutions such as the Bank of Japan and the Bank of France, focuses on improving cross-border payments and fostering collaboration within the global banking ecosystem.

Alongside Agora, BIS’s 2024 strategy encompasses projects like Project Aurum, which addresses privacy concerns in retail Central Bank Digital Currencies (CBDCs). These initiatives reflect a broader movement towards advanced and efficient financial systems on a global scale.

The experimentation with tokenized deposits by British banks signifies a proactive approach towards embracing digital finance solutions. However, the success of such initiatives hinges on navigating regulatory uncertainties and ensuring the security and integrity of digital transactions.

As the trial progresses over the next three years, initial results expected by late summer will provide insights into the feasibility and potential impact of tokenized deposits within the UK banking sector.

Whether these innovations will pave the way for wider adoption of digital currencies and transformative banking practices remains to be seen.

The post Three major UK banks experimenting with tokenised deposits amid ‘Britcoin’ uncertainty appeared first on CoinJournal.

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NEO rebounds past $22.8 as this meme coin presale surges past $4.8 million

  • NEO surges past $22.8 amid broader crypto market recovery.
  • Kangamoon integrates SocialFi, Play-to-Earn, with $KANG tokens for community engagement.
  • $KANG token presale exceeds $4.8M, with 32.4% sold.

NEO, one of the leading altcoins, has made a significant rebound, surging past the $22.8 mark. This surge comes amid a broader recovery in the crypto market, particularly driven by Bitcoin’s resurgence following a flash crash over the weekend.

At the same time, a new meme coin, Kangamoon, has also seen a surge in interest among investors pushing the total amount raised in its ongoing native token presale past $4.8 million.

NEO price breakout

NEO, often dubbed the “Chinese Ethereum” due to its similarity in functionality, has witnessed a remarkable price surge of 25.30% within a day, reaching a hit of $22.89.

At press time, the toke’s price had slightly pulled back to $21.72.

This surge positions NEO among today’s top crypto gainers on various trading platforms.

Technical analysis suggests that NEO’s price is consolidating within an ascending parallel channel, indicating a bullish bias. With the Relative Strength Index (RSI) above the ’50’ mean level and rising Simple Moving Averages (SMAs), the market sentiment remains bullish and well below the overbought region.

NEO price chart

Should Bitcoin’s price continue to rise, NEO could surge and remain above the upper boundary of the channel, which it temporarily breached eariler today, with a possibility of reclaiming its recent peak at $23.83.

Kangamoon: a meme coin with SocialFi and P2E model

Amidst the crypto frenzy, a new player emerges in the meme coin arena – Kangamoon.

Kangamoon aims to create a vibrant and inclusive community of meme enthusiasts while integrating SocialFi (Social Finance) and Play-to-Earn elements. The project offers a unique platform where users can interact, grow, and earn rewards through various activities.

At the heart of Kangamoon lies its native token, $KANG, an ERC-20 token built on the Ethereum blockchain.

With a maximum token supply of 1,000,000,000, $KANG tokens serve as the backbone of the Kangamoon ecosystem. Users can participate in community-driven events, challenges, and giveaways to earn $KANG tokens and exclusive rewards.

Additionally, Kangamoon offers a social-fi model, allowing members to earn extra tokens by actively engaging with the platform.

$KANG token presale

The presale event for $KANG tokens has garnered significant attention within the crypto community, raising $4,845,970.943 at press time.

With 32.4% of the tokens already sold, there is growing anticipation for the remaining 67.6% of the tokens.

The presale offers participants the opportunity to acquire $KANG tokens at a discounted rate, with a 10% bonus available on all purchases in Stage 5 of the presale.

Once the presale ends, token claiming details will be made available on the Kangamoon website, social media channels, newsletter, and Telegram. Tokens will be accessible via a claim button on the website, facilitating a seamless process for participants to acquire their $KANG tokens.

Conclusion

With NEO’s resurgence and Kangamoon’s presale success, the crypto market witnesses yet another chapter in its ongoing saga of growth and innovation.

As Kangamoon continues to gain traction in the crypto sphere, the project’s innovative approach to community building and meme coin integration sets it apart in an ever-evolving landscape.

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Germany’s largest federal state bank partners with Bitpanda

  • Germany’s LBBW bank and crypto exchange Bitpanda have announced a partnership.
  • The federal bank will use Bitpanda’s technology to develop its own custody solution for crypto.

Landesbank Baden-Württemberg (LBBW), Germany’s largest federal bank, has partnered with Austria-based crypto exchange Bitpanda as it looks to launch its crypto custody services.

In the announcement shared on Monday, Bitpanda said the LBBW will use the crypto exchange’s technology to pilot its crypto custody and procurement services.

As part of the collaboration, Bitpanda Technology Solutions offered LBBW access to its “Investment-as-a-Service” infrastructure, which the bank will use to offer crypto services to its corporate clients.

The crypto custody solution will offer access to Bitcoin and Ethereum, with further developments set for the coming months.

“The demand from our corporate customers for digital assets is increasing. We are convinced that crypto assets will establish themselves as a building block for further business models. With this cooperation, we are creating the technical and regulatory basis at an early stage to best support the individual crypto strategies of our corporate customers,” Dr Jürgen Harengel, COO Corporate Bank at LBBW, said in a statement.

According to Bitpanda CEO Lukas Enzersdofer-Konrad, the partnership between LBBW and the exchange offers customers a great avenue to access digital assets.

The post Germany’s largest federal state bank partners with Bitpanda appeared first on CoinJournal.