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Two US presidential candidates announce they’ll accept Bitcoin donations

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In a landmark move, two U.S. presidential contenders, Vivek Ramaswamy and Robert F. Kennedy Jr., have declared their intention to accept Bitcoin (BTC) donations for their campaigns. Kennedy, a potential Democratic candidate, broke the news at the Bitcoin 2023 convention, making his campaign the first in U.S history to publicize cryptocurrency acceptance.

Kennedy further promised to promote neutral energy regulations, addressing concerns around the energy-intensive process of Bitcoin mining. He committed to ensure that Bitcoin won’t be classified as a security, advocating a more welcoming regulatory environment for cryptocurrency enterprises. Additionally, he indicated a potential presidential pardon for Silk Road founder, Ross Ulbricht, raising a note of interest among crypto libertarians.

Matching Kennedy’s progressive approach, Republican candidate Vivek Ramaswamy also announced his campaign’s acceptance of BTC donations. He publicized this through a tweet featuring a BitPay donation link, inviting supporters to donate up to $6,600 worth of crypto. He also urged for the upcoming 2024 elections to focus on fiat currency discussions.

In addition to Bitcoin, BitPay’s platform accepts several other cryptocurrencies like Bitcoin Cash, Ether, Litecoin, and Dogecoin. Ramaswamy also offered a unique incentive: anyone who donates to his campaign can mint a commemorative Non-Fungible Token (NFT) using the Proof of Attendance Protocol (POAP).

In sum, these moves showcase the increasing integration of cryptocurrency in mainstream politics, with prospective leaders acknowledging its significance in democratic processes and pledging to foster an inclusive crypto environment.

‘Inferno Drainer’ scam service steals $6 million in crypto

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A new fraudulent service named “Inferno Drainer” has allegedly purloined close to $6 million from unassuming crypto users, as reported by Scam Sniffer, a Web3 scam detection firm. Inferno Drainer is said to offer pre-packaged code to fraudsters, enabling them to pilfer cryptocurrency in return for a 20% share of the fraudsters’ ill-gotten crypto gains.

This fraudulent service was unearthed by a security aficionado and anonymous Twitter user 0xSaiyanGod, who stumbled upon a promoter of the scheme on the Scam Sniffer Telegram channel. Saiyan reported the alleged fraudster to the channel, sparking an investigation by the security service. Scam Sniffer discovered a screenshot depicting a $103,000 drain transaction employing a Permit2 exploit, a type of phishing scam that simplifies the token approval process.

According to Scam Sniffer, the screenshot displayed the transaction hash of the theft, which led the team to locate the transaction and consequently, the perpetrator’s address. Scam Sniffer subsequently found that this address was linked to over 689 phishing sites established since March 27, and had siphoned off $5.9 million from victims across various networks, including Ethereum, Arbitrum, Polygon, and BNB Chain. Scam Sniffer developed a Dune analytics dashboard to present data that supports these findings.

As per the report, Inferno Drainer touted its “service” to fraudsters for a 20% slice of the earnings. It also offered to construct phishing sites for clients for a 30% cut, but this was exclusive to “good customers or individuals with significant potential.”

The issue of fraud as a service has become increasingly prevalent in the crypto space in recent months. A similar service named “Monkey Drainer” was detected by ZachXBT in October. It managed to drain at least $1 million in ETH from users before ceasing operations in March.

Coinbase hails Canada’s crypto regulation while criticising the US

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Cryptocurrency exchange behemoth Coinbase (COIN) has expressed its preference for Canada’s regulatory environment over that of the U.S., citing clearer rules and a more engaged approach from regulators in Canada.

Coinbase has been at odds with the U.S. Securities and Exchange Commission (SEC), which has threatened the firm with enforcement action over alleged violations of securities laws. The recent regulatory turbulence in the U.S. has unsettled numerous firms and investors, prompting them to consider alternative jurisdictions.

While Canada has also increased scrutiny of the crypto industry via its Pre-Registration Undertaking (PRU) system for crypto exchanges, this has resulted in some major platforms, such as Binance, exiting the Canadian market. Despite this, Nana Murugesan, Coinbase’s VP of International and Business Development, has affirmed his preference for the Canadian regulatory framework.

During a CoinDesk interview, Murugesan explained: “There are two main approaches from regulators: regulation by engagement and regulation by enforcement. The latter can be challenging due to uncertainty around rules. However, Canada’s regulators exemplify the former approach, which we appreciate.”

Coinbase, which agreed to Canada’s enhanced PRU in March and is primarily regulated by the Ontario Securities Commission (OSC), has a significant presence in Canada, employing around 200 engineers in the country, according to Coinbase Canada Country Director Lucas Matheson.

Coinbase’s next step is to offer a smoother transition from fiat to crypto for its Canadian clientele by adding new payment channels. Matheson noted, “Over the coming months, we plan to incorporate Interac payment channels into our platform.” Interac is Canada’s domestic interbank payment network, connecting local financial institutions with individuals and businesses for digital payment systems.

Coinbase views Canada as a promising market, given the regulatory clarity offered by the country’s regulators and the exit of competitor Binance. Regarding competition, Murugesan added, “Each company follows its own journey, and it appears that recent developments in Canada align well with our strategic direction.”

Zeebu inks deals with four telecom carriers with $1.2B + yearly revenue

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Dubai, UAE, May 18th, 2023, Chainwire

Zeebu, the world’s first end-to-end blockchain platform designed specifically for global telecom carrier businesses, is excited to announce its strategic partnerships with BBT Voice Limited, Broadband Telecom Inc., BridgeVoice Inc. and Novatel, d.o.o.

These partnerships will lead to hundreds of thousands of transactions annually, making Zeebu a game-changing force within the telecom carrier industry.

“The world of telecommunications is fast-paced and ever-changing. The power of blockchain technology lies not just in its ability to facilitate transactions but in its capacity to foster trust and transparency. We are sure Zeebu’s partnerships with key telecom leaders will usher in a new era of innovation and growth.” – said Raj Brahmbhatt, Founder & CEO, Zeebu. “We look forward to working with our partners to create lasting value and drive sustainable growth for years.”

BBT Voice is an international wholesale voice and SMS carrier with offices in the UK, India, Armenia, and Ukraine, boasting over 400 interconnections. Broadband Telecom Inc., part of the Bankai Group, is a world-leading communication enabler carrying billions of minutes on its dedicated and globally accessible network.

BBT Voice CEO Rahul Sharma stated:

“This deal marks a cornerstone moment. We are confident that with our combined strength, we will construct remarkable achievements in the blockchain industry. We are sure the platform will deliver on its promises of transparency and trust.”

Nakul Rege, Chief Growth Officer of Broadband Telecom Services, adds:

“Telecommunications is an incredibly dynamic and rapidly evolving field, and keeping up with the latest technologies, trends, and customer demands can be challenging. Zeebu’s blockchain platform will drive innovation, expand our reach, and deliver exceptional customer value.”

As a global leader in retail and wholesale VoIP termination services, BridgeVoice’s robust experience has enabled it to develop an Automated Carrier Platform for telecom operators, carriers and service providers. It also offers an online platform called “BridgeVoice Pluto” for trading and settlement of wholesale interconnect voice and SMS services, providing carriers with access to a range of alternative network operators. 

Bridge Voice, Chief Revenue Officer, Nickey Peshwani said:

“Zeebu is the first blockchain-powered telecom loyalty platform for wholesale voice business and will enable instant settlements anywhere in the world. With its secure, rewards-based payments ecosystem, we’re confident it’s going to boost margins for every industry player. 

Novatel is Slovenia’s leading mobile virtual network operator, providing mobile and IP telephony, internet and information services to European enterprises. It’s currently building out its own mobile network, with a view to launching this summer. 

Novatel CEO Jernej Kenda commented:

“We can’t wait to get started with Zeebu. It will be a game-changer for settlements in the telecom carrier industry, with its powerful utility delivering tangible value for all network participants.”

Zeebu’s revolutionary blockchain solution addresses telecom carrier businesses’ challenges, including security threats, rising and complex costs between intermediaries, and remittance delays of up to 20 days. The platform transforms the industry by unlocking instant global transactions and leveraging enterprise-grade security to protect against cyber attacks and fraud.

The Zeebu platform’s use of smart contracts and blockchain technology creates a trustless, transparent, and more efficient ecosystem for telecom carriers and their partners. In addition, Zeebu tokens, the platform’s loyalty utility token, eliminate the need for conventional banking channels and intermediaries, making cross-border transactions fast and seamless.

Zeebu is thrilled to onboard these significant industry players as its platform’s first users, beginning global transaction settlements using Zeebu tokens. 

This development ushers in a new era for telecom carriers as they embrace blockchain technology for more efficient, cost-effective operations and settlements.

About Zeebu

Zeebu is a pioneering company in blockchain and settlements, providing an innovative platform for the telecom carrier industry, comprising over 6000 players in a $120 billion market. With their first-of-its-kind loyalty and utility token, Zeebu aims to revolutionize the global telecom carrier market, transforming cross-border transactions and improving profitability in the industry. Zeebu’s mission is to extend its groundbreaking solutions to other B2B industries facing similar challenges with international remittance and lean margins.

Contact

CMO
Dr. Raghavendra Hunasgi
hello@zeebu.com

Leading Crypto Teams and Investors Launch $50M Cross-Chain Fund powered by Wormhole

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Miami, FL, United States, May 18th, 2023, Chainwire

Borderless Capital is the manager behind this new fund. Investors include Jump Crypto, Aptos Labs, Polygon Ventures, Solana Foundation, Algorand Foundation, GSR, Arrington Capital among other institutions 

Over twenty blockchain teams and venture funds have teamed up to launch a $50 million Cross-Chain Ecosystem Fund focused on backing and growing new startups that leverage the Wormhole cross-chain messaging protocol. The Cross-Chain Ecosystem Fund is being managed and operated by Borderless Capital, a leading venture capital firm in the Web3 space.

Backed by top blockchain protocols, infrastructure providers, and institutional investors, the fund aims to support cross-chain innovations that will drive the growth and adoption of the Web3 industry. The Cross-Chain Ecosystem Fund is backed by Jump Crypto, Polygon Ventures, Aptos Labs, Solana Foundation, Sei Foundation, Algorand Foundation, CLabs (the company behind the Celo Blockchain), the Moonbeam Foundation, Optimism, Circle, MultiCoin GP’s Tushar Jain and Kyle Samani, Arrington Capital, GSR, Floating Point Group, Chainlayer, Chainode Tech, 01Node, Staking Fund, Moonlet.io, Forbole Ventures, Syncnode, Inotel, Triton One, Strangelove, Securitize’s CEO Carlos Domingo, OtterSec among others. 

Navigating the Web3 landscape is becoming increasingly challenging due to the proliferation of numerous layer-1 blockchains, layer-2 scaling solutions, and specialized appchains with unique purposes and parameters. This complexity poses difficulties for users and alienates developers who are restricted from accessing a single ecosystem, hindering their growth. The Cross-Chain Ecosystem Fund seeks to unlock the full potential of a cross-chain future, aiming to redefine users’ experiences and establish Wormhole as the cross-chain standard for builders to transcend the limitations of individual ecosystems. This innovation prioritizes aggregation, security, scalability, compatibility, and composability.

“We believe in a borderless Web3 future and are thrilled to have the support of our partners and investors who share our vision. In the same way that in Web2 the value was created through aggregating the relationship with the users we believe that in Web3 this is the natural next step” said David Garcia, CEO & Managing Partner of Borderless Capital. “Our goal is to empower builders to transcend the limitations of individual ecosystems, paving the way for blockchain applications and protocols to realize their full potential.”

Wormhole, the technological focus of the Fund, is a foundational protocol that enables cross-chain messaging of value and data across more than 23 high-value chains, already leveraged by influential protocols and companies like Uniswap, Circle and Base from Coinbase. 

“Crypto is still a nascent industry with essentially limitless growth opportunity, and we should be doing nothing but working together, regardless of which specific networks individuals may be more passionate about. It’s really exciting to see so many ecosystems come together with leading venture funds to unite on solving the interoperability challenge by supporting startups that integrate Wormhole’s cross-chain messaging standard,” said Dan Reecer, Head of Operations at Wormhole Foundation.

Builders, founders and developers looking to reach across ecosystems can apply to the Cross-Chain Ecosystem fund at wormhole.com/programs. Applications will be reviewed by the fund manager, Borderless Capital, starting this month.

About Borderless

Borderless is a leading investment management firm focused on Web3 technology, dedicated to supporting the next generation of innovators who are driving the development of groundbreaking technologies that will enable the creation of value without borders. Borderless comprises a team of builders, partners, and investors who adopt a long-term perspective and strive to unleash the full potential of open, community-driven networks. Since 2018, Borderless has invested in 200+ protocols/companies across infrastructure, business applications, and nascent cryptographic protocols, and has played an integral role in the development of some of the most significant and innovative Web3 communities. For more information, please visit their website.

About Wormhole

Wormhole is the industry standard cross-chain messaging protocol powering applications across Web3. Wormhole provides developers access to liquidity and users on over 20 of the leading blockchain networks, enabling use cases that span DeFi, NFTs, governance, and more. Wormhole enables a growing suite of products to build on its messaging layer. Wormhole Connect is an in-app bridging widget that can be integrated in as few as 3 lines of code. The wider Wormhole network is trusted and used by teams like Circle (USDC) and Uniswap, and to date, the platform has facilitated the transfer of over 35 billion dollars through hundreds of millions of cross-chain messages.

Contact

Borderless Team
media@borderlesscapital.io

Future Go Tech Summit to bring together pioneers in Web3, IoT, AI and XaaS

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The inaugural Future Go Tech Summit, a conference dedicated to exploring emerging tech trends, is set to take place on June 29 and 30 at the vibrant Das Das venue in sunny Istanbul. The event promises to unite key stakeholders from government, business, the consumer sector, and influential figures reshaping the entertainment industry.

For a span of two days, industry frontrunners will delve into intriguing opportunities, tackle daunting challenges, and address the most urgent matters in the tech realm.

The summit’s agenda is designed to cater to its four key audiences — consumers, businesses, government, and entertainment — providing insights into technological shifts from unique perspectives relevant to each group. The gathering will unite over 200 corporate leaders from renowned companies like Huawei, Meta, Google, McKinsey, Bloomberg, and others.

The event will feature numerous hands-on keynote speeches, sessions, and roundtable discussions, revolving around cutting-edge subjects defining the current and future tech landscape: XaaS, AI, automation, IoT, Web3, digital public administration, sustainable technologies, play-to-earn mechanisms, eCommerce, and wellness.

Beyond the traditional panel discussions, keynote presentations, and workshops, Future Go will provide a mix of unique infotainment activities, such as stand-up comedy nights, cocktail receptions, business runs, and more.

These activities are designed to elevate attendee engagement at the conference, infusing an element of fun and fostering a sense of community around the summit.

In conjunction with the main event, the Future Go Awards ceremony will take place to honor leaders making remarkable strides in the tech and blockchain sectors. Nominees will be selected based on the impact of their projects, user conversion, and their contribution to technological advancement. A jury composed of 12 highly regarded tech community experts will handpick the winners, favoring those who have demonstrated a profound understanding of their users’ challenges and developed effective technological solutions. The key criterion for winning is that the project must enhance our way of life. The awards ceremony, followed by an afterparty, is anticipated to provide a grand conclusion to the summit, leaving attendees with unforgettable memories and a positive impression.

For the duration of the two-day event, Das Das, usually a concert hall, will transform into a hub pulsating with technological vibrancy. Attendees will have the opportunity to network with global tech leaders, gain inspiration, acquire knowledge on the latest tech trends, participate in interactive keynote speeches, and form unique, impactful opinions.

Attendees will be able to use the knowledge and experiences gained at the summit to breathe new life into their business ventures.

Crypto on the Rise: Companies Worth Paying Attention To

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Cryptocurrency has been making headlines in recent years as one of the most disruptive technologies to hit the financial industry. Owing to its decentralized, transparent, and secure nature, it has the potential to transform the way we conduct financial transactions. As cryptocurrency adoption grows, more companies are entering the market to explore innovative use cases for the technology.

Some of these companies are worth paying attention to, as they have shown promising developments and gained significant industry attention. These companies are pushing the boundaries of what is possible with cryptocurrency and are paving the way for the future of finance.

Many are focused on creating a decentralized internet through blockchain technology, where individuals own their data and can share it securely without intermediaries. Others are creating a digital currency platform that enables seamless, peer-to-peer transactions, removing the need for traditional financial institutions. As the adoption and use cases of cryptocurrencies continue to expand, crypto marketing is becoming increasingly important for projects looking to reach new markets, onboard new users, and drive growth and adoption of their tokens and platforms.

In addition to these companies, some are exploring the use of cryptocurrency in niche areas such as supply chain management, healthcare, and real estate. These companies demonstrate how cryptocurrency can solve real-world problems and create new opportunities for businesses and individuals. Notably, since the inception of Bitcoin, more than 21,000 different cryptocurrencies have been created. Here are lists of novel crypto companies worth paying attention to in 2023.

Contractus

Contractus is a service that makes signing contracts easy and safe. It uses a special computer system called blockchain to keep everything secure. Users can sign a contract with just one click! This platform is powered by the Solana blockchain, which is a perfect system that can handle a lot of people using it at once. With Contractus, users don’t need to use an intermediary to sign their contract, which means everyone involved is quickly and legally bound to follow their terms. Contractus costs are low and payment can be made with different cryptocurrencies.

Contractus uses a special way of protecting a contract called “Shamir’s Secret Sharing method” and “multi-signature technique”. These make sure that no one can see the contract unless they are supposed to and that everyone follows the contract’s rules. With Contractus, you can be sure that your contract is kept secret and that everything is fair. The good thing about the platform is that it is cheap and efficient, especially for essential contracts that need to be very trustworthy. If you keep a balance of 10.000 CTUS tokens or use the token for payment, you qualify for a special feature called “Holder mode” for free. 

CoinPayments

CoinPayments is one of the leading cryptocurrency payment processors worldwide. With over 1,000,000 user accounts and more than 120,000 registered merchants in over 190 countries, CoinPayments has become one of the most widely used multi-crypto payment systems available online. Since 2013, we have developed a complete crypto payment gateway that allows merchants to accept over 100 cryptocurrencies and hold over 2,000+ altcoins, all on a single platform.

CoinPayments is much more than a Bitcoin payment processor. It’s a complete crypto payment gateway with innovative solutions such as: point of sale interface, crypto invoice builder, multi-signature wallets, long-term storage vaults, mobile & desktop support, and industry-low transaction fees (starting at 0.5%). Among the features available in CoinPayments, there is also a conversion tool that allows for converting cryptocurrencies quickly and efficiently.

CoinPayments connects merchants and individuals to the global cryptocurrency economy. Start your crypto payments journey by opening an account with CoinPayments today.

Taiyo Robotics

Taiyo Robotics significantly changed in December 2021 when Solport Tom acquired it from its original project owners. Following the acquisition, Tom wasted no time expanding the team, hiring over 20 employees dedicated to promoting Taiyo Tech products and building a strong community around them. This move has brought fresh perspectives and resources to the project, propelling it forward in its mission.

At Taiyo Robotics, the main focus is on being an innovative NFT project operating on the Solana Blockchain. The company’s goal is to develop cutting-edge technology and provide a wide range of services to its users. These services include self-serving features, utility options, a launchpad for new projects, a vibrant Discord community, and robust security tools. Taiyo Robotics strives to offer a comprehensive package that caters to its community’s diverse needs and interests, ensuring their engagement and satisfaction with its offerings.

Risitas

Risitas Coin, also known as $RISITA, is the ultimate memecoin specifically created for crypto enthusiasts who seek to add excitement and diversity to their investment portfolio. Inspired by the iconic Spanish comedian El Risitas, the coin aims to inject laughter and entertainment into the realm of cryptocurrency. Risita is not just another run-of-the-mill meme token! It is a roaring tribute to the late and legendary Juan Joya Borja, famously known as “El Risitas.” His infectious giggles captured the hearts of millions and quickly became an internet sensation, spreading like wildfire across various online platforms.

However, the mission extends beyond mere laughter. $RISITA is driven by the desire to honor comedy kingpin, bringing joy and laughter to the meme community while supporting charitable causes. Users will not only join a community of meme enthusiasts but also contribute to a greater purpose of spreading happiness and positively impacting society.

Wrapping Up

The rise of cryptocurrency is changing how we view and interact with finance. With the potential to disrupt traditional financial systems and create new opportunities for innovation, it is no wonder that more and more companies are entering the market. As we look to the future, it will be exciting to see how these companies continue to shape the industry and unlock the potential of cryptocurrency.

Pantos Releases Multichain Token Creator, Enabling Users to Easily Deploy Tokens on Multiple Blockchains

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Vienna, Austria, May 17th, 2023, Chainwire

Pantos, a Multichain Token System conceived by the team behind Bitpanda, today announced the public release of the Multichain Token Creator. It is an easy-to-use web app that allows users to configure and deploy their own multichain tokens built on top of the Pantos Digital Asset Standard (PANDAS). Moreover, developers can configure their base token and download the contract code to extend it with their custom functionality.

The Multichain Token Creator makes it easy for projects to launch on multiple blockchain networks, increasing their reach without much effort and creating more opportunities for the community and the projects themselves. Developers, users, and their assets no longer have to be locked to a single chain.

“Our Multichain Token Creator is a defining innovation in the blockchain space, offering developers and projects an effortless way to adopt a revolutionary multichain token standard that drives unparalleled cross-chain collaboration and opens up endless possibilities for the future of decentralized technology,” said Marius Ciortan, the Director of Product Engineering at Pantos. 

For developers, the Token Creator dramatically reduces the time and complexity of developing multichain assets, enabling them to launch their tokens within minutes. Users, on the other hand, will have a smoother multichain experience thanks to the increased availability of native multichain assets through the easy token creation process.

Pantos will showcase the Token Creator to the public for the first time during Super Demo at the upcoming EDCON conference, to be held between May 19-23 in Montenegro. It will also introduce the Pantos Digital Asset Standard (PANDAS) at the event. The EDCON Super Demo provides a platform for the startups or projects promoting the development of Ethereum technology and its ecosystem. The Super Demo starts on the first day of the conference, May 19th, and concludes on May 22nd.

Pantos began in 2018 as an in-house research project by Bitpanda in collaboration with TU Wien (Austria) and later also TU Hamburg (Germany) to establish an open standard for truly decentralized multichain token transfers and blockchain interoperability. It allows developers and users to send tokens, wrap native coins of supported chains, and create and deploy native multichain tokens easily with a few clicks.

Pantos currently supports seven chains on testnet: Ethereum, Polygon, Avalanche, BNB, Cronos, Celo and Fantom; and plans to integrate more EVM and non-EVM chains continuously. Earlier this month, Pantos won the ‘Best Business Model’ award at the Austrian Blockchain Award Gala.

About Pantos

Started as a research project by the team behind Bitpanda in 2018, Pantos is an open-source protocol on a mission to make Web3 truly interoperable. It aims to become an enabler for sophisticated Web3 applications. Pantos’ cutting-edge technology allows existing and upcoming tokens to be deployed on multiple blockchain networks, giving users the freedom to choose the most suitable network for their digital assets. It had secured $12.1 million in funding through an Initial Coin Offering (ICO) on Bitpanda in 2018. 

For more information, visit: Website  |  Twitter 

Contact

Marsel Nenaj
contact@pantos.io

IOVLabs Launches a $2.5M grants program and the Scaling Bitcoin Hackathon to usher in new builders

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Miami, USA, May 17th, 2023, Chainwire

IOVLabs, one of the global blockchain technology leaders, announced the launch of a $2.5 million strategic grants program to further enhance the development and adoption of Rootstock, the world’s first Bitcoin sidechain which has become a growing hub of DeFi activity on the Bitcoin network.

The program was revealed today at the inaugural Bitcoin Builders Conference in Miami, a pioneering event focused on Bitcoin Layer 1 and Layer 2 developers.

To discover eligible candidates for the grant program, IOVLabs also announced the launch of a Hackathon in partnership with HackerEarth, a global community of over 4 million developers. 

The Hackathon will run from May to July, featuring an ideation stage, a development stage, and a final pitch to an esteemed panel of judges from the Bitcoin and Rootstock ecosystems. Blockchain developers from all over the world are invited to apply. 

Given Rootstock’s compatibility with Ethereum Virtual Machine (EVM), no prior knowledge is required to build decentralized applications (dApps) and integrations on the network. Developers can use the same solidity tools and libraries they are accustomed to, including Hardhat, Truffle, web3.js, and ethers.js.

In addition to the possibility of qualifying for the $2.5 million grant program, all Hackathon participants stand a chance to win over $25,000 in prizes. 

Hackathon Judges include Rootstock Co-founder Sergio Lerner and mentors include Rootstock Co-founder Diego Gutiérrez Zaldívar. Rootstock ecosystem leaders including representatives from Sovryn and Tropykus will also be judging the hackathon. 

Developers can leverage Rootstock’s extensive resources on the DevPortal and gain the ability to incorporate the RIF’s pre-built open-source protocols into their current and future projects. 

This is part of a broader effort by IOVLabs to extend the possibilities of Bitcoin beyond being a store of value and help the ecosystem become a full-fledged financial system. The dual-pronged approach of supporting established financial institutions building and launching Web3 products and aiding entrepreneurs and builders with funding and support through hackathons and grants all speaks to IOVLabs’ desire to empower the community. Co-creation and the continual growth of Rootstock’s ecosystem partner list further attribute to that mission.

IOVLabs VP of Growth Pei Chen comments:

“IOVLabs’ support of the strategic grants program demonstrates our strong commitment to provide the tools needed to build a truly decentralized financial system on Bitcoin. This is an opportunity for the next generation of developers to harness the Rootstock sidechain to extend the capabilities of Bitcoin and help create a freer and fairer financial system for all.” 

“Rootstock is rapidly becoming known as the home of DeFi on Bitcoin. But we believe now is the time to make it available to everyone, regardless of their technical ability. That’s why the overarching theme of this year’s grant programme is Everyday DeFi. This is how the first billion users will be onboarded to Web3 and together we can make it happen.”

The Hackathon and grants program will encourage developers to explore a range of concepts and projects aligning with the “Everyday DeFi” theme, including:

  1. Greater interoperability for different blockchains built on or with Bitcoin (dApps, bridges, technical implementations)
  2. User-centric utility to achieve effective user engagement (real-world use cases, compelling DAO governance modules, data dashboards)
  3. Unlocking new functionality and liquidity for DeFi (strategic integrations of marketplaces, dApps, DEXes, aggregators, wallets, on/off ramps, oracles)
  4. Developer Hackathon Bounties for Rootstock infrastructure & tooling (enhancing the foundational tools and resources for sustainable ecosystems, e.g. compiler support, SDKs, libraries, node-as-a-service, merge mining, rollups, etc.)

The Bitcoin Builders Conference, set for May 17th in Miami, will provide an opportunity for hands-on workshops, panel discussions with engineering leaders, and insightful industry keynotes for developers and innovators. The conference will also showcase the latest development tools for Bitcoin.

IOVLabs President Daniel Fogg adds:

“With the Bitcoin Builders Conference underway, I’m excited to see how developers are harnessing Bitcoin’s potential to solve everyday challenges for people around the world. IOV Labs strongly believes Bitcoin sidechains like Rootstock will play a major role in bringing the first billion users to crypto. This conference is an opportunity to celebrate and share our progress so far while acknowledging there’s still work to do. Every network has its sweet spot, and for Rootstock, it’s all about using Bitcoin to create a more accessible and fairer financial system for all. By bringing together EVM compatibility with the unmatched security of Bitcoin, Rootstock offers developers a network that can be trusted to support the financial futures of people worldwide, no matter their economic status.”

Both the grants scheme and the Hackathon aim to encourage developers to build on Bitcoin by leveraging the smart contract capabilities of its Rootstock sidechain. 

This initiative helps to futureproof Bitcoin by enhancing its long-term value proposition and promoting sidechains for complex transactions, thereby addressing the ongoing congestion issue on the leading network.

The $2.5 million grants program is fully funded by IOV Labs, which contributes to the development of Rootstock, a decentralized blockchain protocol. 

Rootstock use continues to grow, with close to $400m in Total Value Locked (TVL) and over 60 protocols in its ecosystem.

About IOVlabs

IOVlabs develops the blockchain technologies needed for a new global financial ecosystem that fosters opportunity, transparency, and trust.

The organization currently contributes to the development of the Rootstock blockchain and Rootstock Infrastructure Framework (RIF).

The Rootstock network is one of the more secure smart contract platforms in the world, designed to leverage Bitcoin’s unparalleled hash power while extending its capabilities.

Rootstock Infrastructure Framework (RIF) is a suite of open and decentralized infrastructure protocols that enable faster, easier and scalable development of distributed applications (dApps) within a unified environment.

For more information, visit the IOVLabs website.

About Rootstock

Rootstock is the world’s most secure, permissionless and censorship-resistant Bitcoin sidechain. It provides EVM-compatible smart contract functionality using Bitcoin as the native asset. Rootstock takes Bitcoin from a simple store of value and turns it into the foundations of a fully-fledged decentralised financial system. 

Rootstock’s native token RBTC is known as “Smart Bitcoin” and lets users use their BTC to interact with a range of services on the Rootstock Bitcoin layer 2. RBTC is an exact 1:1 peg with BTC. (1 RBTC = 1 BTC) When you transfer bitcoin into Rootstock, your bitcoin is locked and the equivalent amount is released as RBTC.

Rootstock is a Bitcoin sidechain that provides EVM-compatible smart contract functionality using Bitcoin as the native asset. Rootstock is the most permissionless and censorship-resistant Bitcoin sidechain. People around the world use Rootstock every day to interact with a range of DeFi protocols such as Sovryn, Tropykus and stablecoin Money on Chain. 

Rootstock is permissionless, and its consensus mechanism is merge-mined proof of work (PoW) with over 50% of Bitcoin’s hash power currently mining Rootstock. This means that Rootstock is mined with more hash power than any other chain, except Bitcoin itself.

RBTC is used as gas to pay for smart contract execution on the network, such as the transaction fee for trading Rootstock ecosystem tokens, the same way as ETH is used as gas for Ethereum. Unlike other blockchain native tokens, Rootstock is non-custodial and maintains the censorship resistance of Bitcoin.

Contact

Director of Brand & Communications
Sam Golden
IOV Labs
samuel.golden@iovlabs.org

Conflux and China Telecom debut first on-chain interaction with Blockchain SIM card

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Toronto, Canada, May 16th, 2023, Chainwire

Conflux Network, the first regulatory compliant public blockchain in China and global communications network, China Telecom, today unveiled its jointly developed Blockchain SIM (BSIM) card at the Xuhui District West Bank Artificial Intelligence Center in Shanghai. 

In a world first, the BSIM card is a mobile user identification card based on blockchain technology. With an appearance nearly identical to traditional SIM cards, the BSIM card is fully compatible with mainstream mobile terminal systems such as Android and iOS. It also boasts storage space 10-20 times larger than traditional SIM cards and computing power several dozen times greater. 

Alongside traditional communications functions, the BSIM card also can generate and store users’ public and private keys within the card. By performing digital signatures in a “private key never leaves the card” manner, the card reduces the risk of users’ mobile terminals being targeted by malware and virus software attacks. Furthermore, the BSIM card can implement encrypted storage, key recovery functions and even integrate traditional U-shield functions. Leveraging the hardware security advantages of the BSIM card to protect users’ private keys. It is currently the safest and most convenient Web3 user terminal entry solution available.

During the launch event, Dr. Wu Ming, CTO and Co-Founder of the Conflux Network, successfully transferred a Commemorative NFT of the China Telecom and Conflux Partnership by pressing the send button within the app. This marked the first on-chain, public use of the BSIM card, as the NFT was transferred from the BSIM card account of Shanghai Conflux Research Institute to the BSIM card account of China Telecom.

Dr. Wu Ming from Conflux stated: “From now on, all mobile communication users can obtain a more secure digital identity through mobile terminals and access Web3 and the metaverse with minimal technical barriers. Blockchain technology has evolved beyond its reputation as a complex and inaccessible concept, transforming into a truly practical infrastructure for applications in the global economy and people’s daily lives.”

Li Anmin, Deputy Dean of the Research Institute at China Telecom Group added: “We are committed to working alongside Conflux Network in developing and promoting practical communication solutions tailored to meet genuine user needs. The BSIM card is just a first step as we collaborate in exploring a diverse range of application scenarios and supplementary products, made possible through the innovative integration of blockchain technology with modern communication advancements.”

The BSIM card will be piloted in Hong Kong before being gradually introduced to mainland and overseas markets.

About Conflux Network

Conflux is a permissionless Layer 1 blockchain connecting decentralized economies across borders and protocols. Recently migrated to hybrid PoW/PoS consensus, Conflux provides a fast, secure, and scalable blockchain environment with zero congestion, low fees, and improved network security.

As the only regulatory-compliant public blockchain in China, Conflux provides a unique advantage for projects building and expanding into Asia. In the region, Conflux has collaborated with global brands and government entities on blockchain and metaverse initiatives, including the city of Shanghai, McDonald’s China, and Oreo.

Contact

Melissa Tirey
melissa@shift6studios.com

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