Algorand Looks to Prove Why Algoracle Is Needed in the Contemporary Blockchain and Crypto Sector 4824

As the complexity of current dApps (decentralized applications) on Algorand grows, so must the infrastructure, notably oracles, to enable significantly higher and better feature sets. In the Algorand ecosystem, Algoracle’s opinions on off-chain computing are therefore worth discussing in key detail.

What is it exactly?

Since smart contracts are unable to access external data on their own, all Web 3.0 technology is built on the foundation of the most crucial of blockchain middleware, oracles. The current generation of decentralized oracle networks therefore seeks to connect real-world, off-chain data to blockchains. As the complexity of contemporary dApps grows however, oracles must also mature and expand to accommodate significantly higher and deeper feature sets as aforementioned.

The next major frontier in oracle development is indeed off-chain computing, which essentially allows oracles to handle significantly more advanced programming logic as well as data aggregation requests on behalf of smart contracts in a permissionless way before publishing the data on-chain. As such, streamlining and enhancing the functionality of oracle off-chain computation not only greatly improves smart contract execution, cost efficiency, and scalability, but it additionally provides decentralized applications with an excellent quality of life features that we often take for granted in Web 2.0, which includes things like push notifications and transaction automation, without requiring dApps to rely on multiple services with varying levels of centralization.

Why is any of this important?

It is simple to envision that as teams construct more sophisticated dApps, the kinds of data sourcing, processing, and computing will become increasingly complicated. An application would often need to pull data from numerous sources while applying certain parameters and filtering logic. Aggregating data from several APIs, selected statistical methodologies, and various data types implies that these activities quickly get needlessly complex. As a result, more efficient methods of doing off-chain processing and applying logic to various circumstances and use cases are critical.

Furthermore, most EVM oracles currently offer rudimentary ways for requesting certain APIs, allowing users to choose the URL or JSON from which to send data, although they do not natively support data aggregation logic. Aggregated data streams are frequently built up or enabled on a case-by-case basis, resulting in data centralization and inflexibility regarding logic application.

A considerably superior oracle design, from the perspective of a developer, would thus enable off-chain data aggregation for general computation. Simply put, oracles should function similarly to Layer-2 smart contracts, where any high-level programming language may be utilized to execute trustless reasoning. Builders ought to have access to a uniform interface that is pre-programmed with this specific goal in mind.

So what’s the issue and how can Algorand help?

Sadly, due to outdated code and the necessity to manage backwards compatibility for current clients, the previously mentioned crucial quality-of-life changes and additions are extremely difficult to execute in existing V1.0 oracles. Attempting to roll out improvements that would improve off-chain computing in present state oracles would hence be analogous to adding new components to an already-flying airplane. Due to this, most oracle V2.0 upgrades would often still leave developers maintaining a plethora of interfaces, both for data feeds and Layer-2 operations.

Algoracle is working on creating a unified interface with off-chain processing in mind, made possible by the intelligent implementation of the Algorand consensus. The significance of Algorand’s Pure Proof of Stake (PPoS) consensus is that its advantages can be simply duplicated for oracle data. The PPoS strategy, based on the Byzantine consensus, avoids standard Proof-of-Stake (PoS) security issues by fortifying the network with an emphasis on a transparent majority without bias based on each validator’s entire stake.

In other words, instead of forced token lockups and the risk of big stakeholders exerting monopolistic control over the network in PoS, PPoS will instead introduce an egalitarian method which randomly selects validators from the entire validator body, thereby removing entry barriers along with any minimum stake requirements.

Since its inception, Algorand has been able to achieve incredible performance, scale, and 100% uptime because of this random selection mechanism, also known as the Verifiable Random Function (VRF) cryptographic sortition. Silvio Micali, the creator of Algorand, was a fundamental architect behind the concept of VRFs, which are now one of the most important building elements for cybersecurity and cryptography applications.

The importance of VRFs

Essentially, a VRF is a tamper-proof random number generator. Such a resource is extremely beneficial for smart contracts dealing with lotteries, auctions, assignment or selection of roles, or any other activity that requires trustlessly verified unpredictability.

Algoracle can deliver a superior ‘VRF-as-a-service’ offering while also creatively deploying VRFs at the node network consensus level to reach peak oracle efficiency by piggybacking on Algorand’s PPoS consensus and bottom-up creation of a unified interface.

By integrating VRFs at a lower level, Algoracle is hence able to deliver improved reliability and effectiveness. Algoracle’s implementation of VRF in PPoS consensus, which ensures assured random sampling of validators, permits not just next generation off-chain computing, but also many essential functionalities taken for granted in the Web 2.0 world that currently evade the offers of oracle providers today.

About Algoracle

Algoracle, the first dynamic, decentralized oracle network constructed on the Algorand blockchain, was developed in the autumn of 2021 and won first place in the Encode’s Algorand Hackathon.

The goal of Algoracle is to provide easy and accessible oracle solutions to help dApps built on Algorand access off-chain data safely, precisely, and fast. By providing decentralized participation which is guaranteed for all independent node operators and users wishing to contribute to the network for economic stimulation, Algoracle intends to be the most reliable, secure, and easy up-to-date real-world data source.

Algorcale believes that real-time data is incredibly useful and should be transmitted in a straightforward, accurate, and timely manner. It therefore aspires to be one of the blockchain sector’s major open-source oracle networks in the decentralized data processing ecosystem.

Also, Brave New Coin, Amberdata, Kaiko, and Nomics, are just some of the current partners. Meanwhile, Bankrolled, Glitter Finance, Equito Finance, Upside Finance, Prismatic, Webblen Network, Mercury Labs, AlgoGuard, and others are the major clients. In terms of biggest achievements, the seed round was successfully closed, and a vital partnership with Amberdata was also established. The mainnet launch, as well as the launch of the GORA token, along with providing VRF and computation capabilities are among the main points of focus for the next 12 months.

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Galileo Protocol launches LEOX airdrop with 250,000 token reward pool 1753

In a significant move towards integrating blockchain technology with real-world assets, Galileo Protocol is thrilled to announce its LEOX token airdrop, designed to engage and expand its community. The airdrop features a generous pool of 250,000 LEOX tokens and offers participants a firsthand experience in a leading-edge RWA tokenisation ecosystem.

Exploring the Reward Pool

  • Fairdrop Pool: 150,000 LEOX dedicated to holders of Nebula and NFT communities who embody the web3 experience (CommuNFTy Pool).
  • Farmooor Pool: 100,000 LEOX allocated to active Galileo Marketplace participants.

Fairdrop Pool access

  1. Eligibility: Hold an unlisted Nebula or partner NFT (to be announced in early May) during the snapshot period (April 3rd – June 1st).
  2. Snapshot verification: Ensure NFTs are in your wallet during the June 1st snapshot.
  3. Receive LEOX Tokens: Tokens will be automatically distributed on June 15th to eligible wallets.

Farmooor Pool Access

  1. Marketplace registration: Sign up at the Galileo Marketplace and complete KYC verification.
  2. Social engagement: Share your sign up on your socials. Galileo will be adding a link input feature for participation.
  3. Active participation: Make purchases on the marketplace from April 3rd to September 30th.
  4. Final verification: Maintain active participation through the September 30th snapshot.
  5. Token distribution: Eligible participants will receive their tokens on October 31st.

Participation Benefits

This airdrop is more than a reward; it’s an invitation to explore the transformative potential of RWAs on the blockchain. Participants will gain early access to a platform that blends the physical and digital worlds, creating secure, transparent, and liquid markets for assets previously constrained by traditional boundaries.

Why Galileo Protocol?

Galileo Protocol stands at the forefront of the RWA blockchain movement, focusing on the tokenisation of tangible assets to enhance their usability, liquidity, and security in the digital age. Galileo Protocol not only supports the tokenisation of assets but also ensures their real-world applicability and integration.

Safety notice

Please interact only through official Galileo channels and verify all links before engaging. Remember, the Galileo team will never reach out via direct messaging first.

About Galileo Protocol

Dedicated to revolutionising asset management, Galileo Protocol uses blockchain technology to authenticate, tokenise, and mobilise real-world assets. This approach aims to unlock the value of physical assets and make them accessible in the crypto space, enhancing transparency and trust.

Join this forward looking journey with the Galileo Protocol’s LEOX airdrop. Step into the future of asset management and discover the full capabilities of Galileo Protocol’s RWA tokenisation platform.

Follow Galileo Protocol’s official channels

Telegram Group: @galileoprotocolcommunity
Discord Group: https://discord.gg/vQQPXXcKsv
Own a Nebula here: https://nebula.galileoprotocol.io/
Visit the Galileo Marketplace: https://app.galileoprotocol.io/

MetaComp Announces Strategic Partnership with Harvest Global Investments to Explore Bringing HK-Listed ETFs to Investors in Singapore and Beyond 2235

MetaComp Pte Ltd, a leading Monetary Authority of Singapore (MAS) licensed Singapore fintech company that specializes in blockchain technology and digital assets, and its affiliates (collectively referred as MetaComp), is proud to announce a strategic partnership with Harvest Global Investments Limited (HGI), a leading asset management company licensed with the Securities and Futures Commission of Hong Kong. HGI is among the pioneering Chinese asset management firms to establish subsidiaries abroad. The Memorandum of Understanding executed between MetaComp and HGI marks a significant step towards potentially broadening the accessibility of innovative financial products globally with special emphasis on the recently announced cryptocurrency spot ETFs which will be expected to start trading on the Hong Kong Stock Exchange from 30 April 2024 onwards. This follows the announcement by HGI that they have received authorization from Hong Kong’s Securities and Futures Commission to launch the highly anticipated cryptocurrency ETFs.

The core of the partnership revolves around MetaComp and its affiliates’ commitment to make HGI’s cryptocurrency spot ETFs available, through MetaComp’s proprietary Client Assets Management Platform, also known as CAMP by MetaComp, utilizing its technological and market expertise to introduce these products under the appropriate regulatory framework to Singapore investors and beyond. This initiative not only aims to expand the global footprint of HGI’s ETFs but also allows MetaComp and its affiliate to enrich its wealth solution portfolio with highly sought-after financial products.

In addition to the crypto-ETF distribution, the collaboration will also explore opportunities for the integration of HGI’s various asset management solutions into MetaComp’s service offerings. MetaComp will also provide HGI access to its Digital Payment Token suite of services. Through the strategic collaborative efforts by both companies, they are hoping to forge a symbiotic relationship that will allow both companies to leverage on their strengths.

The alignment with HGI allows MetaComp to tap into the scale and expertise of a leading global financial player, significantly enhancing its service capabilities and market reach. This partnership is designed to serve not just the existing clientele of both entities but also to capture new segments eager for advanced financial solutions across traditional finance and crypto finance.

Dr Bo Bai, Chairman and Co-Founder of MetaComp shared: “This strategic alliance with Harvest Global Investments Limited reaffirms MetaComp’s commitment to being the bridge that links traditional finance with crypto finance. We are confident that our partnership with Harvest Global Investments Limited will prove to be mutually beneficial. With Harvest’s expertise in asset management and MetaComp’s robust capabilities in providing a comprehensive suite of digital payment solutions, we are poised to deliver unparalleled value to our clients and the market.”

For more detailed information on this partnership and to stay updated on future developments, please visit www.mce.sg.

About MetaComp Pte Ltd (www.mce.sg)

MetaComp is a leading Singapore-based digital asset platform that is licensed and regulated by the Monetary Authority of Singapore (MAS) under the Payment Services Act 2019. Operating under a P2B2C (platform-to-business, partners-to-clients) model, MetaComp provides an integrated end-to-end suite of services to its clients, empowering them to confidently enter the digital asset market with the much-needed safety, security, and compliance. Together with its parent company, Metaverse Green Exchange Pte. Ltd. (a MAS-licensed CMS holder permitted to carry out, inter alia, brokerage and custody services), MetaComp introduces its suite of services through CAMP by MetaComp, a regulated Client Assets Management Platform, allowing businesses to develop and scale their digital asset offerings through OTC and exchange trading services, fiat payment, digital asset custody and prime brokerage.

Hinkal Closes Strategic Funding Round to Advance Discreet Trading and Position Liquidation 3199

Hinkal, a multi-chain privacy layer for confidential decentralized finance (DeFi) transactions, today announced a $1.4 million strategic funding round led by SALT Fund, with participation from Draper Associates, SNZ and Peer VC. Additionally, Tal Cohen, CEO of Kraken US, joined the company advisory board.

The raise follows the close of Hinkal’s $4.1M seed funding round in November of 2023. With surging demand from institutional clientele, this strategic funding will be used to bring liquid funds, VCs, family offices and founders of projects to Hinkal’s confidential infrastructure.

As institutional investors expand their presence in crypto markets they are increasingly looking to decentralized exchanges to take advantage of price discovery and asset control these platforms provide. However, DeFi does not provide privacy these traders are accustomed to in traditional financial markets. As crypto analytics platforms have become more complex, the pseudonymous nature of DeFi presents risks of copy trading and front running for liquid funds, VCs, and protocol founders willing to liquidate their token positions.

“The influx of institutional capital into crypto markets is a landmark event for the maturity of the industry,” said Georgi Koreli, CEO of Hinkal. “Hinkal is solving a critical need in the crypto space by providing institutional investors with the additional layer of anonymity they require to participate in DeFi markets. This strategic funding round will allow us to accelerate the development and adoption of our groundbreaking privacy solution.”

Hinkal is a zero knowledge (ZK)-protocol that addresses these issues by enabling end-to-end and secure confidentiality for DeFi transactions. Leveraging a combination of self-custodial private addresses and relayers, Hinkal transforms the way on-chain trading operates as the only transaction that can be seen on block explorers or analytics platforms is the execution of a relayer – no wallet addresses attached. This allows liquid funds, VCs and retail investors to make confidential transactions within the protocol without experiencing price slippage or market impacts.

Additionally, Hinkal provides a best-in-class solution for venture capital and founding teams looking to liquidate vested tokens in a private and secure environment. As the industry has grown and matured, these stakeholders have traditionally struggled with token vesting and liquidations, as this process often results in adverse price impacts that dilute net settlement and sends mixed messages to the community. With Hinkal, VCs and teams can receive any vested token directly into a private Hinkal address and liquidate privately without these impacts to the market.

AJ Scaramucci, Founder and Managing Partner of the SALT Fund, commented on the news, “The SALT Fund is dedicated to supporting projects that drive innovation for institutional investors. Hinkal is a breakthrough protocol addressing crucial pain points for institutional funds, founders, and VCs alike by enabling them to execute private DeFi trading strategies and liquidate vested tokens in a way that doesn’t disrupt the broader market. This is a game-changer for the industry and will unlock significant value for these stakeholders.”

Underpinning Hikal is a full suite of compliance and security solutions to further support institutional users of DeFi protocols. Hinkal requires KYC(B) (Know Your Customer/Business) verification for users to prevent illicit parties from using the protocol while simultaneously providing a frictionless experience via reusable attestations at exchanges like Coinbase and Binance. Audited by major firms including Quanstamp and Zokyo, Hinkal provides a secure trading experience and real-time threat mitigation with Hexagate.

About Hinkal

Founded by Stanford grad Giorgi Koreli and his Ph.D. brother, Nika Koreli, Hinkal enables privacy of transactions and assets across core DeFi apps and functions, including trading, farming, staking, and lending through the use of stealth addresses and with high degree of compliance.

Hinkal is a ZK-based solution that provides a private smart contract wallet experience, allowing users to participate in their favorite dApps directly from their private addresses without the need to withdraw assets for obfuscation.

SKALE and Virtualness global partnership reimagines fan engagement for sports, creators, and enterprises using the power of blockchain 3507

Fans of Liga 1 & other organizations will have access to a superior experience on Virtualness with SKALE’s zero gas fees and instant finality.

SKALE Network, a gas-less EVM-compatible blockchain designed for secure Ethereum scaling, and Virtualness, a pioneering mobile-first platform powered by generative AI and blockchain, today announced a strategic partnership aimed at redefining digital engagement and empowering global sports fans, enterprises and creators alike.

With international athletic partnerships that include Liga 1, Asia’s largest and most prestigious football league, sports fans will have access to exclusive NFT moments, player cards, rewards, loyalty programs, real-world experiences, and exciting gamification on the Virtualness platform, all powered by the SKALE network. Fans who interact with clubs, players, and fellow supporters will foster a deeper connection with their favorite teams while experiencing the world’s fastest blockchain.

“Through our partnership with SKALE, we’re revolutionizing the NFT landscape by eliminating barriers to entry and making Web3 accessible to Web2 users paving the way for mass adoption,” said Kirthiga Reddy and Saurabh Doshi, Co-founders of Virtualness. “We are thrilled to partner with SKALE to provide our community with unparalleled access to NFTs, immersive digital experiences, and exclusive rewards.”

As part of the partnership, Virtualness’ hundreds of thousands of users will leverage SKALE’s high-throughput, zero gas fee transactions, and instant finality capabilities to enhance its platform’s performance and scalability. Additionally with SKALE, sports fans, enterprises, organizations and all Virtualness users alike can now mint for free, further democratizing the access to digital asset ownership.

“We look forward to supporting this new era of accessibility and empowerment for creators and organizations,” said Jack O’Holleran, Co-Founder of SKALE. “This partnership signifies our commitment to making blockchain more accessible and easy to use, enabling Virtualness users to more seamlessly interact with NFTs, ultimately revolutionizing how we engage with digital assets.”

The Virtualness platform, built on generative AI and blockchain technology, provides sports, enterprises, and creators, with a user-friendly interface for creating, minting, and showcasing digital goods and interacting directly with their communities. With SKALE, Virtualness will soon offer more on-chain assets such as player cards in the form of NFTs, prizes via SKALE tokens, and the transparent storage and sharing of game data such as leadership board scores and prize information.

With SKALE’s advanced blockchain architecture, Virtualness users can expect improved performance, faster transactions, and enhanced security, enabling them to unleash their creativity and reach new heights in the digital world.

The partnership between SKALE Network and Virtualness represents an evolution in digital engagement, offering creators and brands innovative blockchain opportunities to thrive in the digital economy while democratizing access to blockchain and welcoming newcomers into Web3.

The experience for web2 users is user-friendly and easy, with no crypto or blockchain knowledge required or needed. Together, SKALE and Virtualness are poised to revolutionize the way people create, share, and interact with digital content, unleashing new channels for creativity.

For more information, please check out SKALE.space.

About SKALE

SKALE, a gas-less EVM-compatible blockchain designed for secure Ethereum scaling is designed for a World-Class experience for games, NFT platforms, and Web3 applications. As of 2024, SKALE serves over 10 million monthly active users and saves billions in monthly gas fees with its innovative AppChain model. SKALE AppChains feature high performance, zero gas fees, enhanced security, and instant finality, making them ideal for a wide range of decentralized applications. With a commitment to driving the mass adoption of Web3 technologies, SKALE empowers developers and businesses to build scalable, efficient, and user-centric blockchain applications. On the SKALE network, developers can deploy their own EVM-compatible blockchain by unlocking advanced features such as AI/ML smart contracts, on-chain file storage, interchain messaging, and zero-cost minting. Harmonizing speed, security, and decentralization, SKALE was founded in 2018 by Jack O’Holleran and Stan Kladko, PhD.

For more information, users can visit SKALE.space or follow on Twitter.com/SKALENetwork.

About Virtualness

Virtualness is a mobile-first platform, powered by generative AI and blockchain, for users to create, mint, gift, share, and sell digital goods all in one place. Founded in 2022 by industry leaders Kirthiga Reddy and Saurabh Doshi, Virtualness serves as a platform for authenticated sports, brands, and media organizations to design and showcase branded blockchain goods, fostering direct community engagement and unlocking new monetization avenues. Virtualness has exclusive wins like being the authentication partner for Guinness World Record Women in Cloud milestone, and the Asian Academy Creative Award while also delighting fans with exclusive access to icons such as Jim Louderback, Taylor Lorenz. Education, personalization, discovery, integration with Web2 and Web3 platforms, and a mobile-first experience are all core to the platform. Funding led by Blockchange Ventures with participation from VCs f7 Ventures, Micron Ventures, Better Ventures, FalconX, Shorooq Partners, Impact Venture Capital, Oceans Ventures and angels like Carolyn Everson, Randi Zuckerberg, Nuseir Yassin (Nas Daily), Marina Mogilko, Nikki Farb, Shayamal Vallabhjee, Stacy Brown-Philpot, and other thought-leaders.

For more information,users can visit about.virtualness.io

BLAZE Investment Round Complete With Aim To Become Web3 Market Leader 3886

StoryFire stands at the forefront of innovation, spearheading a revolutionary amalgamation of SocialFi, GameFi, and DeFi, culminating in an unprecedented all-encompassing experience. Recently, the company successfully concluded the BLAZE token investment round, securing backing from prominent entities including GDA Capital, Genesis Capital, Octavia Ventures, and TGE Ventures.

Expressing his enthusiasm, Sam Hilder, CEO of StoryFire, emphasized in a recent press release, “Closing a successful funding round amidst the prevailing macroeconomic conditions, with such esteemed partners, is indeed exhilarating. We are deeply grateful for the trust our investors have placed in us.” Hilder further elucidated on the company’s strategic vision, affirming their commitment to crafting the ultimate Web3 platform through the StoryFire offering, eagerly anticipating the unveiling of their latest developments.

Leading the investment consortium, Genesis Capital, a private equity powerhouse, orchestrated the funding round. The company delineated its intentions to leverage the capital infusion to propel both developmental initiatives and marketing endeavors leading up to the imminent BLAZE token launch.

In a strategic move underscoring StoryFire’s steadfast commitment to the Web3 landscape, the company announced its purchase of assets from Tokens.com in February 2024, with it being that it has successfully closed the sale of Metaverse Group and Hulk Labs to StoryFire. The purchase entailed a disposition comprising a 15.3% equity stake in StoryFire, appraised at US$3.5 million, alongside an allocation of US$500,000 in BLAZE tokens. This strategic maneuver underscores StoryFire’s enduring presence within the Web3 domain, as it endeavors to fortify and expand its footprint across the entire Web3 ecosystem.

About StoryFire

The StoryFire platform, powered by the BLAZE token, will revolutionising the metaverse paradigm by combining SocialFi, GameFi, and DeFi into one unified experience.

Metis’ Sequencer Mining Goes Live 4210

Last month’s launch of Phase 1 of the Metis Decentralized Sequencer upgrade established Metis as the first-ever rollup platform with a decentralized sequencer. Metis has now launched Phase 2, which introduces several enhancements aimed at improving network incentives and participation.

Among other positive changes, Phase 2 of the Decentralized Sequencer upgrade introduced the most awaited feature up to date for the Layer 2 network: Sequencer Mining.

Sequencer Mining will allow users to lock their tokens via LST providers, contributing to the network’s security. Essentially, these LST providers will interact with the Sequencer, and users will interact with the Liquid Staking providers, receiving a Liquid Staking Token that they can reuse in other DeFi dApps or just hold. Through Metis’ Community Ecosystem Governance (CEG), the community chose Artemis Finance and Enki Protocol as the two LST protocols for the Alpha Phase.

In the first year, sequencer nodes will benefit from a 20% Mining Rewards Rate (MRR), the same rate at which smart contracts compensate participants for producing blocks. Additionally, Metis Liquid Staking Blitz (LSB), supported by the Metis EDF, will provide grants to verified projects to accelerate growth. More than 220,000 METIS are committed in grants for 2024 alone to support MetisLSB and catalyze growth of LST products on Metis. Prior to the official launch of Sequencer Mining, there has been notable activity with LST-related products, including deployments by Shoebill Finance, Stablis Protocol, and participation pools on Hercules Finance.

Metis has secured important partnerships with recognized crypto institutions that will help the network achieve proper decentralization and high participation rates on the Decentralized Sequencer.

Users can deposit and start mining immediately through Artemis. ENKI will be fully launching on Mainnet soon, but users can already participate in their “Pre-Staking” program.

About Artemis

Artemis Finance is a liquid staking protocol designed exclusively for Metis’ Decentralized Sequencer. Users can stake METIS tokens on Artemis Finance and receive the liquid staking token artMETIS.

About Enki

Enki Protocol is a Metis-native liquid staking protocol leveraging dual-token architecture from protocols like Frax and Lido to implement the most battle-tested LST design to the Metis Decentralized Sequencer. Users can stake METIS via Enki and receive seMETIS, while the protocol utilizes ENKI for its governance.

About Metis

Metis is an EVM-Equivalent Ethereum Layer-2 protocol focused on bridging the gap between Web2 and Web3. Metis provides users with a decentralized and scalable easy-to-use network secured by Ethereum. Metis became the first Ethereum rollup to decentralize its sequencer with the launch of Decentralized Sequencer, which enhances network security and provides more potentially revenue-earning opportunities for users.