Crypto Flipsider News – Aug 27 – Ethereum, Solana, Chainlink, The US Air Force, Cardano, Microsoft, Royal Music NFT By DailyCoin
Crypto Flipsider News – Aug 27 – Ethereum, Solana, Chainlink, The US Air Force, Cardano, Microsoft, Royal Music NFT
- Market updates:, Solana, Chainlink, VeChain.
- Government news: US Air Force, Cuba, South Korea.
- Updates: Ethereum converter and bug bounty program.
- Microsoft (NASDAQ 🙂 and new services for creating crypto tokens.
- Royal, a Paradigm-supported NFT music marketplace.
Market updates: Ethereum, Solana, Chainlink, VeChain
- The burning of Ethereum hit a new milestone of 100,000 ETH, which is more than $ 312 million.
- The NFT boom has pushed Ethereum gas prices to the highest levels in 14 weeks.
- Solana became the biggest winner in the past 24 hours after gaining 25% in value and hitting a new all-time high of $ 83.73.
- Chainlink lost support at $ 25. The bulls are predicting a clear path to $ 40 in the long run.
- VeChain launched a new blockchain initiative aimed at tracking CO2 emissions.
- It’s an interesting situation when every market faces small corrections, with the exception of one coin: Solana. Of course, there are some solid reasons for the increase. But isn’t that always the case when the proof-of-history is making history?
Government News: The US Air Force, Cuba, South Korea
The United States Air Force (USAF) has reached an agreement with the Constellation Network. The collaboration enables the development of a secure data exchange system that could be used to securely exchange data across the US defense infrastructure. Constellation says it is “a massive shift in the use of blockchain technology for something as productive and complicated as data”.
Cuba will begin regulating cryptocurrencies for payments in the country. The rules will be determined by the country’s central bank at a later date. The use of crypto increased significantly in Cuba after the economic sanctions imposed by former President Trump.
South Korea’s Financial Intelligence Unit (KFIU) has set up a separate department to monitor suspicious crypto transactions, strengthen operator supervision and uncover possible money laundering cases. The office comes into effect in September. Crypto exchanges that cannot be registered with KFIU and do not require registration with a real name do not receive an operating license.
- Blockchain networks reduce the likelihood of data compromise and make it much more difficult for malicious attackers. Here’s the bad part: your opponents will use the blockchain to their advantage too. This complicates the work of law enforcement agencies and secret services.
Cardano Updates: The Ethereum Converter and the Bug Bounty Program
Some time ago, Cardano was described by DailyCoin as a project with a “slow and steady win the race” approach. It seems impressive enough that the team is making progress from this strategy. Cardano is no longer humble, so we receive more news like the following about the project almost every day.
The announcements were made at the annual Cardano360 online conference. First of all, the highly anticipated Ethereum converter will be launched in the network’s test network over the next week. This bridge enables the native issuance of ERC-20 tokens in the Cardano network. In addition, this means that proof-of-work tokens can easily be exchanged for the proof-of-stake blockchain.
Cardano also announced a bug bounty program on their official blog. As the ecosystem continues to grow exponentially, protocol security has become an increasingly important issue. That’s why the Cardano Foundation has teamed up with HackerOne, one of the largest hacker-operated security platforms, for a bounty hunt. For those who want to test their skills and those who want a chance at the bounty, check out the program here.
- Yes, Cardano has to keep up with the requirements to be among the top 3 cryptos. Community demands are high expectations and high pressure. On the other hand, Charles Hoskinson still has to take some “hype lessons” from Vitalik Buterin, Elon Musk and Justin Sun.
Microsoft and new services for creating crypto tokens
Microsoft has received a US patent for software.
Software that is and acts as the ledger for a blockchain, but is not a blockchain.
Overall, the ledger will help users develop blockchain applications and create crypto tokens for various distributed ledgers, making the whole process easier and more efficient.
Currently, creating and managing tokens is complex due to the lack of standardization across different blockchains.
Microsoft’s patent and a ledger-independent system allow users to create tokens and manage them across different networks.
After receiving a user request, the system offers templates with various characteristics and control functions.
The system also provides a common interface for managing the tokens, which means developers don’t have to worry about knowing token-specific code in order to interact with them.
- The approval of the patent is a big step in the right direction for the company, because no large company wants to be left behind.
- The launch of this service has not yet been officially announced, but the future project will allow Microsoft to keep its millions of users around the world as crypto goes mainstream.
Royal, a Paradigm-supported NFT music marketplace
Backed by Founders Fund and Paradigm, Royal is a music marketplace that plans to sell song rights as NFTs.
3LAU announced the launch of the Royal Music Investment Platform with $ 16 million in seed capital led by Peter Thiels Founders Fund and Paradigm, a crypto-focused investment.
The companies are leading the way in investing in the platform, which aims to connect music rights to NFTs.
This would allow users to buy stocks of songs through the company’s marketplace and earn royalties as the music they invested in grows in popularity.
- All music news is music to the ears too. Combining song rights with NFTs is both productive and plausible. While visual artists posting their digital work on the blockchain have grown and matured across a range of platforms, there have been fewer efforts focused on musicians. It’s time for music to flourish in space!
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