NEAR, a decentralized application (dApp) development platform that claims to be focused on putting the power of the Open Web in the hands of everyday people, has adopted Ontology’s Decentralized Identifier (DID) solution. The new alliance will bring about smart contracts implementation and facilitate a seamless registration of NEAR on W3C, according to reports on August 10, 2020.
NEAR Protocol Taps Ontology (ONT)
As stated in its blog post, NEAR has inked a partnership deal with Ontology (ONT) and the collaboration will enable the latter to provide the necessary technical support that would make it easier for NEAR Protocol to have a regulatory-compliant Decentralized Identifier solution.
The partnership will also facilitate the implementation of smart contracts on NEAR Protocol, while also assisting the project in its World Wide Web Consortium (W3C) registration. NEAR claims to be a highly secure and performant blockchain network designed to handle high-value assets.
Commenting on the partnership with Ontology, Erik Trautman, CEO of NEAR Foundation expressed his excitement over the deal, adding that Ontology’s ONT ID 2.0 cross-chain interoperability feature makes it the most suitable choice for NEAR Protocol.
“We are very happy to leverage the technical expertise of the Ontology team, especially in relation to their bespoke ONT ID 2.0., a very robust decentralized identity solution designed for streamlined cross-chain interoperability. Following our successful mainnet launch, we are keen to strengthen our partner network, and look forward to extending the power of Ontology’s solutions to our growing customer base.”
Taking Strides within the Industry
Notably, NEAR Protocol raised $21 million earlier May 2020, from its funding round backed by heavyweights such as venture capital firm, Andreesen Horowitz (a16Z), Pantera Capital, Electric Capital, and a host of others.
NEAR Protocol is a decentralized permissionless proof-of-stake blockchain that uses the Doomslug consensus algorithm. NEAR claims to be infinitely scalable, with a very high throughput due to its use of the sharding technique.
On the other hand, Ontology has been doing well in terms of adoption within the industry.
Earlier in May 2020, reports emerged that Ontology and Germany’s Sphericity had joined forces to create digital identity solutions for public and permissioned blockchains.
In July 2020, BTCManager reported that Google Cloud had accepted Ontology as one of its official partners, making it possible for Ontology developers to have access to the former’s robust tools and technology.
At press time, the price of ONT is up by 12.72 percent in the last 24-hours, trading at $0.841040, as seen on CoinMarketCap.
Gemini Enables GBP Deposits for Crypto Purchases in the UK
The exchange received FCA recognition last August.
Gemini, a cryptocurrency exchange and custodian, has announced on Thursday its expansion into the United Kingdom by ‘fully’ launching its services and adding support to the British pound.
This came after the Winklevoss twins’ exchange received recognition from the Financial Conduct Authority (FCA) in August as a crypto exchange for its locally formed entity and also received an electronic money institution (EMI) license.
The registration process was made mandatory by the market regulator under the European Union’s Fifth AML Directive (AMLD5), and Gemini became one of the first to register itself as a local crypto exchange.
According to the official announcement, both ‘individuals and institutions’ in the UK can now access Gemini’s services and purchase digital assets with the British pound. The exchange has opened debit card support along with other bank transfer options, including Faster Payments, CHAPS, and SWIFT.
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“Going live with our full services available in GBP in the UK is another exciting step forward in Gemini’s international expansion, advancing our mission to empower individuals and organizations around the world through crypto,” Gemini CEO, Tyler Winklevoss said in a statement.
Institutions Remain in Focus
Additionally, the exchange highlighted that UK institutional investors can access crypto trading, market data, and custody services on the platform on behalf of their clients.
Though headquartered in New York, Gemini is aggressively expanding its international presence and has services also in Canada, South Korea, Hong Kong, Singapore, and Australia. It is strengthening its overseas presence with major hires as well.
“The UK is a global center of financial innovation with a stringent and progressive regulatory regime…We look forward to welcoming consumers and institutional customers to our platform,” Winklevoss added.
Bitcoin Has Spawned 436 Altcoin Derivatives Since Inception
Since its launch in 2009, Bitcoin has now generated more than 400 altcoin offshoots. Data from MapOfCoins shows that the world’s first cryptocurrency has now had 436 forks since going live over 11 years ago. Despite its many derivatives, Bitcoin remains the undisputed market champion, controlling anything from 58 to 79 percent of the cryptocurrency […]
The post Bitcoin Has Spawned 436 Altcoin Derivatives Since Inception appeared first on BeInCrypto.
Since its launch in 2009, Bitcoin has now generated more than 400 altcoin offshoots. Data from MapOfCoins shows that the world’s first cryptocurrency has now had 436 forks since going live over 11 years ago.
Despite its many derivatives, Bitcoin remains the undisputed market champion, controlling anything from 58 to 79 percent of the cryptocurrency market at any given time.
In the intervening 11 years, there have been sustained bear markets and contentious hard forks, but thus far there has only been one competitor that has even briefly threatened to give Bitcoin a run for its money.
Bitcoin’s First Forks
Two years after Bitcoin went live, a hard fork called Namecoin hit the scene, marking the first of a flurry of hard forks.
Unlike Bitcoin, which existed to decentralize money, Namecoin existed primarily to decentralize identity management. Despite the divergence in purpose and use case, the relative success of Namecoin marked the first of Bitcoin’s numerous metaphorical children and grandchildren.
Shortly after Namecoin came Litecoin, whose key utility was to speed up Bitcoin transactions. To this day, Litecoin remains one of the most successful cryptocurrencies of all time and has earned a reputation as the ‘silver’ to Bitcoin’s ‘gold.’ It currently has a market capitalization of $2.8 billion and ranks ninth on CoinMarketCap’s crypto rankings.
Litecoin itself grew out of a now-defunct Bitcoin fork known as Tenebrix, making it a genealogical grandchild of Bitcoin in the crypto family tree. Following Litecoin’s success came dozens of Bitcoin hard forks, each one promising to offer unique utility, to varying degrees of success.
The Fork Wars
In August 2017, Bitcoin faced its first proper existential challenge following a split within the Bitcoin developer community over block size. Faced with long transaction times due to small block sizes, two schools of thought emerged and divided into two camps known as ‘Bitcoin Core’ and ‘Bitcoin Cash.’
The Bitcoin Core group favored a solution known as Segregated Witness (SegWit), which would divide certain transaction data to save space and thus speed up transactions. The Bitcoin Cash group favored larger block sizes to enable more transactions per block.
Both groups eventually failed to reach a compromise, leading to a hard fork that created Bitcoin Cash trading under the ticker BCH.
In September 2018, BCH then went through its own dramatic, bitterly fought hard fork, again over block sizes. This resulted in a new ‘grandchild’ called Bitcoin Satoshi’s Vision (SV), trading under the ticker BSV.
Emerging Tech Summit AIBC Europe Announces New Conference Dates
Malta-based tech show will shift dates from November 2020 to February 2021
SiGMA Group has announced the postponement of its tech and gaming focussed Europe summit, which was planned to be held in Malta on November 18–19, 2020. The 4th edition of AIBC Summit will now open its doors early next year in February, running from the 17th–18th, making it the first event to headline the 2021 tech and gaming calendar.
Several shows on it became evident that opportunities, particularly in investment and development, were emerging as a result of cross-pollination between the gaming and emerging tech sectors. As such, the company has decided to merge these two main brands under one roof, bringing AIBC into the SiGMA family with the launch of one super show in February 2021.
AIBC Europe will also embrace key brands and individuals from the converging sectors of AI, blockchain, IoT, quantum tech, and other emerging technologies to discuss and shape the future.
“I look forward to the new dates and I look forward to welcoming you all with arms wide open.” SiGMA founder, Eman Pulis.
The decision, which was taken following recent, unforeseen developments of the global health crisis, COVID-19, is in line with advice from Malta’s health authorities and aims to ensure the safety and well being of AIBC attendees.
SiGMA Group Founder, Eman Pulis, said, “AIBC 2020 was due to take place this November, the show was sold out and we were extremely excited for this edition to take place. However, COVID-19 had other plans and therefore, we have decided to postpone the show for another three months. I must send my gratitude to all the exhibitors who agreed to move their participation at the event with us. I look forward to the new dates and I look forward to welcoming you all with arms wide open.”
SiGMA Group’s priority is the health and welfare of its guests, speakers, exhibitors, and employees. As such, they have taken the decision to move the event to 2021—in line with upcoming inaugural events launching across Asia and the Americas.
SiGMA’s much anticipated digital excursion into the emerging LatAm markets will still go ahead this September, running from 22–24 September, in addition to summits later in October, exploring the growing Med Tech and Med Cann industries.
AIBC Europe (February), which will now occur alongside AIBC Asia (May 2021), AIBC Americas (September 2021), and SiGMA Europe in November 2021, will open its doors to the industry in Ta’ Qali, with the original venue, the MFCC, still confirmed. Thanks to regulatory bodies, such as the MGA and the MDIA, Malta is Europe’s premier location for tech and iGaming, maintaining its reputation as an iGaming hub and offering undisputed benefits to gaming companies looking to establish a base in this forward-thinking jurisdiction.
Combining an expo floor for world-class exhibitors, a start-up village for new businesses, and a hugely popular conferences and workshops agenda, the summit offers a platform to the tech industry as it shapes the future of the sector.
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