This week’s blockchain news covers new updates and ‘happening’ events where novelty meets cooperation. From LayerZero’s integration with IOTA’s Ethereum Virtual Machine, which bodes well for cross-network communication, to Proof of Talk preparing to bring finance moguls to Paris, this week was filled with exciting developments in the blockchain space. As the industry continues to evolve and expand, collaborations between different projects and companies are becoming increasingly common, leading to innovative solutions ready to take shape soon.
1. Proof of Talk 2024: Where Web3 meets the spirit of Davos
The Proof of Talk summit, known as the Davos of Web3, is set to return with thought leaders, investors, CEOs, founders, exchanges, digital asset managers, and regulatory authorities. The Museum of Decorative Arts in Paris hosts this event to shape blockchain technology and global policies. Over 1500 attendees will include Binance, VanEck, Ripple, and World Economic Forum leaders.
2. Archethic proposes blockchain as a remedy for AI
The Archethic Company is addressing concerns about privacy and AI misuse. Archethic’s ethical blockchain ecosystem decentralizes and gives individuals sovereignty over their data, unlike traditional AI models that engulf massive amounts of data without confidentiality. The blockchain platform encrypts and signs all data, ensuring unbreakable traceability, making it impossible to capture AI training data during exchanges. The blockchain ensures time-traceability and the integrity of AI training data by securely timestamping and recording every crypto transaction. That is a big step towards a safer and more ethical AI in the future.
3. Bitmain Embroiled in a New Scandal
Dapper Labs, the company behind NBA Top Shot NFT, is currently in a legal battle with investors who have accused it of violating federal securities laws. The investors assert that NBA Top Shot unlawfully offered NFTs. As part of a temporary settlement agreement, the defendant has agreed to pay $4 million to the plaintiffs. Dapper Labs is accused of enticing investors with promises of increased NFT collection value, which goes against federal regulations. Furthermore, the company is said to have restricted investors from buying and selling NFTs and prevented Moments from being traded on external platforms. The settlement includes specific terms for both parties involved and ends investor claims that NBA Top Shot NFTs are securities.
4. Wormhole Introduces Governance Staking: A Comprehensive Guide
Wormhole has recently rolled out Stake for Governance, which empowers W token holders to shape the future direction of the Wormhole DAO and platform. This new program enables users to actively engage in governance by staking their tokens on various networks such as Ethereum Mainnet, Arbitrum, Base, and Optimism. Token transfers can be easily conducted within the application through Wormhole Connect, an integrated governance platform.
By staking W tokens, users entrust their voting authority, ensuring their opinions count in crucial governance matters. Notably, there are no restrictions on token holding or ownership during this process. Users have the flexibility to unstake and restake their tokens at any time to transfer their voting power to a different representative.
5. LayerZero Integrates with IOTA EVM for Enhanced Cross-Chain Interoperability
LayerZero, a strong cross-chain messaging protocol, has joined forces with IOTA EVM, an essential element of the Shimmer network. This strategic partnership is focused on improving connectivity and communication among different blockchain communities, such as Ethereum, Binance Smart Chain, and Optimism.
The main goal of this collaboration is to position IOTA and its EVM system at the forefront of a diverse Web3 ecosystem, making it easier for users to interact and for decentralized applications and assets to leverage omni-chain capabilities. This move also enhances LayerZero’s presence across multiple blockchain platforms.
The blockchain landscape remains in flux, ever-morphing under the force of innovation and our common will to forge a more distributed, interconnected sphere. With new updates and technological strides, the blockchain ecosystem is advancing speedily at the bleeding edge of this technology and will likely remodel industries and interactions for decades to come.
