• Flare recently completed a live demonstration of its new interoperability functionality available in beta on the network.
• The demo used State Connector and Flare Time Series Oracle (FTSO) protocols to trustlessly purchase an NFT using tokens from different blockchains.
• The demo was successful, highlighting the potential use cases and applications for legacy tokens on the network.
Flare Unlocks Interoperability Functionality
Flare, a layer-1 for data, has recently completed a live demonstration of its new interoperability functionality now available in beta on the network. The demonstration aimed to prove that it is possible to trustlessly purchase an NFT on Flare using tokens from a different blockchain.
The demo was performed on Flare’s canary network, Songbird, with two core interoperability protocols being used – State Connector and Flare Time Series Oracle (FTSO). DOGE and XRP tokens were used to make the purchase.
State Connector enables information from other blockchains and the internet to be securely accessed by EVM-based smart contracts on Flare chains. In this case, it has been used to prove that a transaction was confirmed on a non-Flare chain while verifying that the correct payment reference was included.
The FTSO delivers highly decentralized price and data feeds to dapps on Flare without relying on central providers for data delivery. For this demonstration, it provided the live updating price of the NFT in the currency of another chain.
Standard ERC721 Contracts
EVM-based blockchains such as Ethereum are capable of achieving anything which can be performed by standard ERC721 contracts written in Solidity deployed on their networks too – including minting NFTs. To use them in this demo however required some additional methods to integrate with FTSO and State Connector protocols as well as writing Solidity code for them..
Web3 Utility Enabled
Hugo Philion, Flare CEO & Co-founder commented: „This demo highlights [the] ability to provide more types of secure decentralized data on-chain in order to power new functionality and potential use cases for the industry.“ He added that “we are excited to see what other applications engineers can develop harnessing [the] capabilities of Flare’s native interoperability protocols” enabling web3 utility for legacy tokens usage trustlessly within dapps built upon their platform.
A video demonstrating all aspects described above can be found here: https://www.youtube.com/watch?v=g0qxxm2EZjw
•OKB (OKB) and Aptos (APT) have seen a price pump since the start of the year. Other tokens such as Stellar (XLM) and Orbeon Protocol (ORBN) are also experiencing a bullish momentum.
•OKB is the utility token for OKX exchange which can be used for activities such as voting, governance, calculating transaction & trading fees, staking and more.
•Aptos (APT) is referred to as the new era of dApps due to its speed, scalability, cost-effectiveness, security and upgradability.
This press release covers four digital assets – OKB (OKB), Aptos (APT), Stellar (XLM), and Orbeon Protocol (ORBN). All four of these tokens have been experiencing an upward price trend since the beginning of 2021. This article takes a closer look at each token’s features in order to better understand why they may be good investment options in 2023.
The OKB token is used on OKEX exchange and provides many advantages for users who choose to stake it on the platform. These benefits include passive income opportunities through tools like OKX Profit, as well as funds distributed through Jumpstart Project initiatives. Furthermore, holders of this token will also be able to partake in voting processes related to governance decisions on the platform. Finally, OKB helps people learn about decentralization of money applications gaming, NFTs and more..
Aptos stands out from other blockchains due to its combination of Proof-of-Stake consensus mechanism with Move programming language technology that allows it handle up to 150K transactions per second! This makes it faster than Ethereum or any other competitive blockchain out there. It is also incredibly secure and easily upgradable making it ideal for decentralized applications or dApps moving forward into 2023.
Stellar Lumens has become one of top 10 cryptocurrencies by market capitalization since its launch back in 2014 due growth its network usage over past few years . XLM has potential be adopted more widely given that it offers low transaction costs quick settlement times . Its use case range from micropayments online purchases remittance payments .
Orbeon Protocol Token
The Orbeon Protocol provides users with censorship resistant communication mediums such as messaging channels , forums , chatrooms , etc., while also providing them with access financial services built upon layer 2 solutions that allow users store their funds securely while enjoying fast speed low transaction costs . It is currently in phase 7 presale having gained 1675% from initial presale price $0 .004 reaching current value $0 .071 .
• The SEC is probing Kraken, one of the world’s largest cryptocurrency exchanges, over a possible breach of U.S. securities law.
• Reports suggest that the probe is already in advanced stages and could result in a settlement between the exchange and the regulator.
• If a settlement is reached, it could give more regulatory power to the SEC and reinforce their bid to assume jurisdiction over crypto tokens.
SEC Investigating Kraken for Securities Violations
The U.S. Securities and Exchange Commission (SEC) has launched an investigation into crypto exchange Kraken for potentially offering unregistered securities in violation of U.S. securities laws. Reports suggest that this probe is already in its advanced stages, with a potential settlement between the exchange and regulator being announced soon.
Enforcement Action Possible
If Kraken settles with the SEC, they could be subject to fines, penalties or other punishments for breaching U.S securities law regulations as well as reinforcing the agency’s authority over crypto assets throughout 2023 as stated by Chairman Gary Gensler last December.
Kraken Offers 185 Cryptocurrencies
Kraken currently offers more than 185 cryptocurrencies globally, many of which are not offered within the United States borders – making it unclear which offerings are being scrutinized by regulators at this time.
Continued Regulatory Clampdown
This recent enforcement action follows Coinbase’s similar probe from last year and further reinforces The SEC’s strategy to clamp down on crypto assets deemed as securities without publishing any clear guidelines for regulating them in America yet still maintaining their power over these digital assets through enforcement actions such as this one against Kraken now underway..
This latest attempt to regulate digital currencies by investigating Kraken shows that The SEC are continuing their efforts to ensure compliance amongst exchanges operating within U.S borders while also looking to expand their grasp on these digital assets if a settlement is reached regarding this case – giving them even more power when it comes to matters concerning cryptos in future years ahead..
• Damus, a decentralized social media platform powered by Nostr, has been released on the Apple App Store.
• The platform is designed to be censorship-resistant and permissionless and allows for private encrypted messages to be sent with destination user’s public key.
• Twitter is also trying to catch up with its competitors by announcing the launch of a payment system, which could include crypto on the app.
Damus Launches on Apple App Store
Nostr has announced the launch of its most popular mobile app Damus on the Apple App Store. Jack Dorsey, co-founder of Twitter and contributor to the Damus project, reacted positively to this news.
Features of Damus
Damus is marketed as „the social network you control,“ aiming to build an uncensored social media platform. It utilizes decentralized relays to distribute messages sent on it and incorporates payments through Bitcoin’s Layer-2 Lightning Network.
Twitter is also attempting to compete with rivals by introducing a payment system that could include cryptocurrency features in their app.
Significance of Launch
The launch of Damus represents a major milestone for decentralized social media networks and increases competition for Twitter.
The release of Damus indicates that open protocols are becoming increasingly popular among users who want more control over their online experience. This could spell trouble for centralized platforms like Twitter in the long run.