SEC - Page 81

Singapore, Asia, September 19th, 2024, Chainwire

Harvard Students and Alumni Launch Groundbreaking Native Bitcoin Blockchain Project at Harvard Innovation Labs to Tackle Global Debt Crisis 

•  Launch of “New Bretton Woods Project” (NBW): A Harvard-led initiative, soon to be incubated at Harvard Innovation Labs, tackling the global debt crisis through decentralized finance (DeFi) solutions. 
•  Native Bitcoin Stablecoin: NBW is developing a Bitcoin-backed stablecoin via BeL2 infrastructure, offering stability while preserving Bitcoin’s decentralization and security. 
•  Economic Disruption and Resilience: The project aims to reshape global finance by leveraging Bitcoin and DeFi to promote economic stability and empower users in the face of rising global debt. 

In a bold step to transform the global financial landscape, the Digital Economy Research Initiative, led by a dynamic group of Harvard students and alumni, has officially launched the “New Bretton Woods Project” (NBW). This pioneering blockchain-based initiative has secured membership in Harvard’s prestigious Innovation Labs and is set to begin incubation there in the coming weeks. NBW aims to tackle the escalating global debt crisis by offering innovative, technology-driven solutions. 

At the heart of the project is the development of a native Bitcoin stablecoin, leveraging the transformative potential of decentralized finance (DeFi). Built on the innovative BeL2 infrastructure, NBW aims to reshape global financial systems, unlocking new possibilities for debt management and financial stability across nations. 

With the power of DeFi and blockchain, NBW stands poised to disrupt the status quo, offering a bold new path toward economic resilience in the face of one of the greatest challenges of our time. This initiative signals not just a step, but a leap toward a decentralized, stable and secure economic future. 

The project reframes Bitcoin as not just a store of value but the foundation of a decentralized financial system. Using BeL2—Bitcoin’s second-layer solution—the NBW project enables smart contracts for Bitcoin-backed stablecoin construction, empowering users to engage in decentralized finance while preserving Bitcoin’s core principles of decentralization and security. 

“Harvard Innovation Labs will help turn our vision into reality,” said Jacob, Lead Member of New Bretton Woods (NBW) at Harvard University. “Our goal is to create a ‘New Bretton Woods’ system anchored in Bitcoin, bringing stability through the utility of a stablecoin. This stablecoin allows users to bypass Bitcoin’s price volatility while retaining the potential for long-term gain, making the product practical for daily use.” 

The native Bitcoin stablecoin will be fully backed by Bitcoin, enabling users to experience the stability of fiat currency without liquidating their Bitcoin holdings. This offers a balance of algorithmic security using Bitcoin miners and the opportunity for long-term growth. 

The BeL2 infrastructure allows for decentralized finance applications, where Bitcoin remains securely on the main network. Bitcoin can be used as collateral for Layer 2 applications such as decentralized exchanges, loans, and stablecoin issuance. The NBW team ensures that all Bitcoin-related settlements occur on the Bitcoin main network for maximum security. Instead of transferring assets across chains, messages are sent to Ethereum-compatible networks to issue stablecoin, uniting technologies and supporting a robust decentralized economy. 

“Financial empowerment comes from both freedom and stability,” added Sasha Mitchell, Head of Operations at BeL2. “By offering a stablecoin backed by Bitcoin on the BeL2 platform, NBW is giving people a way to protect their wealth and access new financial opportunities, especially in times of economic volatility.” 

“This initiative comes at a crucial time as global debt reaches record levels. By combining Bitcoin’s decentralized structure with the stability of a pegged currency, the project offers a financial system that mitigates the risks of traditional economies, highlighting the real-world benefits of financial security and sovereignty. Our stablecoin isn’t just another digital currency; it’s a tool for global financial stability,” said Jacob, Lead Member of the NBW project. “We believe that offering a decentralized and stable currency helps individuals and communities navigate the growing challenges posed by the global debt crisis.” 

The NBW team invites those who share their vision for a decentralized and secure financial future to explore how they can contribute. Whether you’re a developer, an investor, or a policymaker interested in sustainable financial solutions, this project offers a unique chance to shape a future focused on security, accessibility, and freedom. 

About New Bretton Woods Project (NBW)

The project is led by Digital Economy Research Initiative, a team of Harvard students and alumni. NBW is set to be incubated at Harvard Innovation Labs in the coming weeks. Focused on bridging the gap between traditional finance and decentralized systems, the team is committed to advancing financial inclusivity and economic stability. 

About Harvard Innovation Labs

Harvard Innovation Labs is a collaborative ecosystem that supports entrepreneurship across Harvard University. It provides resources, mentorship, and funding to students, faculty, and alumni as they develop practical solutions in fields like technology and finance. 

About BeL2

BeL2 is Bitcoin’s second-layer solution that enables decentralized finance (DeFi) while keeping Bitcoin secure on its main chain. By providing users with the ability to lend, borrow, and trade without intermediaries, BeL2 ensures financial freedom while preserving Bitcoin’s core principles of decentralization. With BeL2, users retain full control over their Bitcoin while accessing new financial opportunities. 

Contact

Media Lead
Roger Darashah
Elastos
roger.darashah@elastoselavation.org

LAS VEGAS, United States, September 19th, 2024, Chainwire

Blockchain storage layer Xandeum has announced that it will reveal its blueprint for scaling Solana storage at Breakpoint 2024 on September 20, 2024. At the flagship Solana conference in Singapore, Xandeum will also share details of its new storage-enabled liquid staking program and officially announce the launch of the XAND token.

Designed to overcome the limitations of Solana’s current storage model, Xandeum’s technology will allow dapps to scale by accessing virtually unlimited storage. Solana can be looked at as a “world computer”, and Solana accounts are its “RAM”. At Breakpoint 2024, Xandeum will share its vision for adding the “hard drive” via their scalable storage layer, the missing piece to a full-fledged world computer. This innovation enables a Cambrian Explosion of storage-enabled dapps.

The smart contract native storage layer introduces “Xandeum buckets,” an exabytes+ scalable file system integrated directly into Solana RPC nodes. Storage will be offloaded to a decentralized network of hundreds of thousands of storage provider nodes (pNodes), supervised by Xandeum-enabled Solana validators. pNodes, validators, and liquid stakers will earn additional rewards in SOL, thanks to highly dynamic fee markets designed to optimize storage efficiency and profitability.

“A low-cost, decentralized storage solution will drastically expand the application landscape.” says Tommy Johnson, early Solana builder, co-founder, and lead engineer at Armada. “It can unlock a new revenue stream for SOL validators and stakers. The Xandeum solution will have an enormous impact on the growth of the Solana ecosystem.”

More details of Xandeum’s Solana scaling solution will be shared at Breakpoint 2024. In addition, Xandeum will use the event to announce its storage-enabled liquid staking platform. Scheduled to go live on October 29, the platform will capture future Xandeum storage fees for xandSOL stakers. Early adopters who stake with Xandeum will be eligible for boosted rewards of up to 10x with more details at https://xandeum.network

As an event sponsor, the Xandeum team will have its own booth at Solana Breakpoint 2024 in Singapore, with community members able to learn more about key initiatives including the liquid staking pool, XAND token, and forthcoming airdrops. The first airdrop snapshot will take place on October 8, with the XAND token launch scheduled for October 29.

Xandeum’s development of new storage primitives to enhance Solana’s programming model will solve the issues with the current storage system, known as “accounts,” which has proven insufficient to hold even a few gigabytes per dapp. These limitations threaten to stifle the growth of web3 applications on Solana.

Xandeum lead developer Xandeum Labs has raised $2.8M to build out its scaling solution and has seen significant interest from Solana’s builder community, with over 4B transactions completed on its community-run devnet. Xandeum will support a new wave of scalable web3 dapps while maintaining Solana’s security and decentralization. 

About Xandeum Labs

Xandeum Labs is a web3 startup dedicated to building the scalable storage layer for Solana. As a major contributor to the world’s first storage-enabled liquid staking platform, operated by the XAND DAO, Xandeum has already raised $2.8 million from its community and is on track to launch its pNode network in early 2025.

Users can learn more: https://xandeum.com

Contact

Bernie Blume
Xandeum Labs
hello@xandeum.com

Zug, Switzerland, September 19th, 2024, Chainwire

Agile Coretime Paves the Way for Polkadot 2.0 Improving the Network’s Scalability, Cost, Speed, and Flexibility

The Polkadot community celebrates the release of its latest major product, “Agile Coretime”, as part of the ongoing Polkadot 2.0 upgrade. This new feature represents a significant advancement in how computational resources are allocated and managed within the Polkadot ecosystem, delivering unprecedented efficiency, scalability, and accessibility for projects of all sizes.

Agile Coretime is not just a technical upgrade; it is the most important product launch this year for Polkadot as it evolves, through seamless on-chain governance, into a network ready to onboard the Web3 masses. It also serves as a primary catalyst for the rebirth of the entire ecosystem. By making it easier for projects to build and scale on Polkadot, this feature is designed to attract a new wave of innovative applications and use cases.

As the second crucial component on the path to Polkadot 2.0, which previously saw Asynchronous Backing go live and will later allow for Elastic Scaling, Agile Coretime redefines how blockchain resources are allocated by offering a dynamic, on-demand blockspace model. This new approach replaces the previous auction system, in which single cores were leased for two years at a time. The new approach makes it easier and more cost-effective for projects to access the resources they need, when they need them.

Eskimor, lead developer at Parity Technologies, Polkadot’s leading technical contributor, said: “Agile Coretime is a huge milestone in making the high quality blockspace Polkadot offers more accessible. With this and other features we have in the pipeline, I expect more experimentation and awesome projects to be launched on Polkadot, showcasing its amazing capabilities. Let’s wake our sleeping giant!”

One of the key advantages of Agile Coretime is its ability to align resource availability with actual network demand. By dynamically allocating computational resources, Polkadot ensures that no resources are wasted during low activity periods, while also preventing congestion during peak times. This adaptability is crucial for projects with varying needs, enabling them to scale and operate more efficiently without the burden of high upfront costs.

“Devs have historically faced a binary choice: deploy a smart contract and compete with other protocols for limited blockspace, or deploy a blockchain and pay for a large amount of dedicated blockspace,” says Derek Yoo, CEO of Moonsong Labs, “Agile Coretime addresses this challenge by offering a flexible approach. For projects starting out, you can harness the power and customizability of a blockchain while paying only for the blockspace you need. For mature projects with product-market fit, Agile Coretime allows scaling to meet high levels of demand without the need for sharding.”

For new developers and smaller projects, Agile Coretime lowers the barrier of entry by providing access to Polkadot’s robust infrastructure without the need for significant DOT collateral. This democratizes access, fostering greater innovation and participation within the ecosystem.

Projects can purchase coretime either on-demand or in bulk, providing flexibility or predictability depending on their specific needs. On-demand purchases are ideal for projects with fluctuating demands, while bulk purchases offer stable and reliable resource allocation for teams requiring a steady flow of blockspace.

For media inquiries, please contact Jonathan Duran at Jonathan(at)Distractive(dot)xyz

About Polkadot

Polkadot is the powerful, secure core of Web3, providing a shared foundation that unites some of the world’s most transformative apps and blockchains. Polkadot offers advanced modular architecture that allows devs to easily design and build their own specialized blockchain projects, pooled security that ensures the same high standard for secure block production across all connected chains and apps connected to it, and robust governance that ensures a transparent system where everyone has say in shaping the blockchain ecosystem for growth and sustainability. With Polkadot, you’re not just a participant, you’re a co-creator with the power to shape its future.

Contact

Marketing Communications Director
Jen Wheatley
Distractive
jen@distractive.xyz

San Francisco, United States, September 18th, 2024, Chainwire

Aleo’s L1 creates a new ecosystem for secure and programmable applications that allow users a new level of control over their data

Today, the Aleo Network Foundation officially announced the launch of the Aleo Network, a layer-1 blockchain that combines general-purpose programmability with the power of zero-knowledge proofs (ZKPs). The network enables the next generation of decentralized apps that provide data confidentiality to users and scale to enterprises. 

Mainnet marks a critical turning point for zero-knowledge technology. For the first time ever, developers can deploy and execute applications on a layer-1 blockchain that is zero-knowledge by default. ZKPs are used to prove knowledge about a specific set of data, without having to reveal the data itself. This gives developers a platform for building private-by-default, cost-effective decentralized applications and makes new use cases in identity, finance, and gaming feasible at scale.

Starting now, developers can build applications that allow users to safely provide the information necessary to access online services while keeping enterprises from bearing the risk of maintaining and securing that data. 

Developers benefit from a network that provides:

• High scalability through off-chain execution with ZK proofs, reducing computation and speeding up transactions.
• True decentralization thanks to a diverse, intentionally planned network of validators, ensuring stability, resilience, and inclusive governance.
• Unlimited runtime through off-chain execution, eliminating gas fees common to other blockchains.
• A full-stack development experience that makes it easy for developers to build ZK dApps by handling the complex cryptography. 

This launch marks a significant milestone following the successful validation of Testnet Beta, where the network was thoroughly tested across diverse environments. The Foundation enhanced the network’s security by addressing findings from audits by three independent firms and resolving issues identified through bug bounty programs.

“The launch of Aleo’s mainnet marks a milestone in our mission to empower users to secure their personal information. This is not just a technological advancement; it’s a fundamental shift in how users interact with their data online,” said Alex Pruden, Executive Director of the Aleo Network Foundation. “Now, users can securely share only the personal information relevant to a specific inquiry, such as their exact age or credit score, without needing to reveal the entire contents of personal documents like birth certificates, financial data, health records, and more. Products like our in-house identity solution ZPass demonstrate the potential of an internet where users, not platforms, control the data they see and share.”

“At Variant, our guiding thesis for infrastructure investing is expanding the design space of what’s possible for applications. The unlocks of decentralized, privacy-preserving computing can’t be understated — imagine truly secure and private applications that protect user data,” said Jesse Walden, Founder and Managing Partner at Variant. “Aleo is a pioneer in private compute, and we could not be more excited to continue supporting the network.”

There is already a robust ecosystem of partners building real-world use cases on the network. Venture capital firm Electric Capital ranked Aleo as one of the top five fastest-growing ecosystems by overall developers, with an overall growth of 167%, and to date, there are 330+ active projects covering applications like DeFi, tooling and infrastructure, identity, and gaming. 

“Enabling safe online spaces that uphold and protect children has been at the heart of our work at Bandio since the project’s inception. The support and collaboration we have had from Aleo throughout our entire life cycle has been invaluable,” said Lynzi Ziegenhagen, CEO of Bandio, a digital age assurance tool built on Aleo in partnership with Common Sense Media. “To see the mainnet launch as the culmination of this team’s hard work and dedication is truly exciting.”

The launch of the Aleo Network arrives at a time when the demand for secure digital solutions is at an all-time high. Without security, web3 risks remaining a digital casino, lacking the trust and utility needed for broader adoption. Aleo’s approach ensures that privacy is not an afterthought but a foundational element, essential for the evolution of meaningful and secure digital interactions. 

Aleo Selects Coinbase For Day One Support

Coinbase, one of the largest cryptocurrency companies in the world widely known for pioneering innovation in the digital asset space, is providing Aleo with day-one support across three key areas: custody, staking, and learning rewards.

• Coinbase Prime is a leading institutional prime broker platform for crypto assets, trusted by some of the largest institutional clients in the world. Institutional investors can securely custody the native Aleo token with Prime.
• Staking: Coinbase will serve as one of the initial validators for the Aleo network, bringing its best-in-class staking services to support the ecosystem. By leveraging Coinbase’s extensive experience in the proof-of-stake ecosystem and its track record of supporting staking innovation, this relationship will enhance Aleo network’s infrastructure and deliver reliable, secure staking services to its participants.
• Coinbase Learning Rewards offers developers and users the opportunity to get rewarded for learning about the unique benefits of the Aleo Network. Quests challenge users through onchain tasks to help them earn rewards and familiarize themselves with key partners like Demox Labs, Puzzle, Apybara, Arcane Finance, and Aleo Name Service.

This announcement underscores Aleo’s commitment to building a robust and secure network from the outset.

“Aleo’s decision to select Coinbase for day one support is another signal to the market that users want autonomy in their experiences, and for some, that means backing technologies that prioritize privacy,” said Lewis Han, Head of Developer Sales at Coinbase. “ We are excited to support Aleo’s mainnet launch by integrating our staking services in the genesis set of validators, helping to build a more secure and user-centric onchain ecosystem.”

The launch of Aleo’s mainnet breathes life into the need for a more secure internet, where user data privacy takes precedence. As the Aleo ecosystem continues to build, zero-knowledge will finally find its footing in the mainstream. To learn more about Aleo, please visit www.aleo.org.

About the Aleo Network Foundation

The Aleo Network Foundation is a Wyoming-based non-profit 501c4 organization created to guide and support the Aleo Network, focusing on open-source governance, developer engagement, and promoting zero-knowledge cryptography applications. 

About the Aleo Network

The Aleo Network is a decentralized and leading developer platform for building secure, scalable, and cost-effective decentralized applications. Using zero-knowledge cryptography, Aleo moves smart contract execution off-chain to enable new use cases for applications like identity, finance, and gaming, scaling to thousands of transactions per second. Built on a decentralized, permissionless blockchain, Aleo brings the flexibility of Ethereum with a more scalable architecture that’s designed from the ground up for privacy.

Contact

Senior PR Manager
Patrick Kennedy
Serotonin
patrick@serotonin.co

Dubai, UAE, September 18th, 2024, Chainwire

Cypher Capital, a multi-strategy crypto investment firm, today announced its role in a $15 million seed funding round for Hemi Labs, a modular blockchain network unifying Bitcoin and Ethereum. Hemi Labs will use the funds to develop and launch the Hemi Network, utilizing funds from Cypher Capital to advance blockchain technology and enhance interoperability by developing a unified supernetwork.

The round comes after Hemi’s recent incentivized testnet launch, and a mainnet launch targeted for Q4 2024. Participation from numerous investors includes Binance, Breyer Capital, Big Brain Holdings, Crypto.com, HyperChain Capital, Alchemy, SALT Fund, Kelly Capital, Sunflower Capital, DNA Fund, Web3 Ventures, Quantstamp, TRGC, UTXO, Artichoke Capital, SNZ Holding, Capital6, IBG Capital, Protein Capital, MON Ventures, SV5, Impossible Finance, Jihan Wu (Bitdeer), and George Burke (Portal), among others.

“Hemi Labs is at the forefront of blockchain interoperability,” said Vineet Budki, CEO of Cypher Capital. “Their approach to integrating Bitcoin and Ethereum into a cohesive supernetwork addresses key scalability and security challenges, and our investment aligns with their mission to transform blockchain infrastructure and unlock new possibilities for decentralized applications.”

Unlike traditional efforts to integrate Bitcoin and Ethereum within their own ecosystems, Hemi Labs is developing a unified supernetwork. Hemi Network will include the Hemi Virtual Machine (hVM), integrating a full Bitcoin node within an Ethereum Virtual Machine (EVM), allowing developers to create cross-chain smart contracts with familiar tools while ensuring compatibility with existing EVM dApps and wallets. The Hemi Bitcoin Kit (hBK) facilitates direct smart contract access to granular Bitcoin state for advanced Bitcoin-native applications such as staking and lending markets.

The network also boasts Superfinality through Hemi’s Proof-of-Proof (PoP) consensus mechanism, ensuring Bitcoin-level security in a decentralized, permissionless manner and provides Bitcoin-security-as-a-Service to other blockchain networks. Hemi’s Tunnels will offer trustless cross-chain portability, improving upon traditional bridge methods. Additionally, Hemi will feature on-chain routing, time-lock, password protection, and gasless transfers for seamless asset movement without relying on native chain currencies.

“The quality and enthusiasm of our investors and partners reflect the groundbreaking nature of what we are building,”  said Jeff Garzik, Co-founder of Hemi Labs. “We are well positioned to advance blockchain technology by creating a supernetwork that marries the capabilities of Bitcoin and Ethereum, and Cypher Capital’s support is crucial to that success as they share our vision for the ecosystem.”

About Cypher Capital

Cypher Capital is a leading early-strategy venture firm focused on investing in Web3 infrastructure and applications that will drive the new digital economy. Guided by environmental, social, and governance for every investment decision, Cypher is shaping the future of digital currency, public markets, and Web3. 

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About Hemi

The Hemi Network (“Hemi”) is a modular blockchain powered by Bitcoin and Ethereum that provides superior scaling, security, and interoperability. Hemi views Bitcoin and Ethereum as components of a broader supernetwork, unlocking new levels of programmability, portability, and potential. Hemi Labs is a leading developer of Web3 infrastructure and tooling, founded by renowned Bitcoin developer Jeff Garzik, and blockchain security pioneer Max Sanchez. Learn more at https://hemi.xyz/. 

Contact

Media Manager
Shameem Sha
shameem@cyphercapital.com