Heroes of Mavia, a groundbreaking Web3 AAA mobile base builder strategy game, is now available on iOS and Android app stores. This launch marks a new era in gaming, merging the thrill of strategy gameplay with the innovative aspects of Web3 technology.
After a successful private beta period of three months, which attracted over 350,000 waitlisted enthusiasts and showcased impressive engagement statistics such as 12k daily and 45k monthly active users, Heroes of Mavia is set to captivate the global gaming community. The game boasts a daily average playtime of 24 minutes and a remarkable 42% day 7 retention rate, indicating its compelling gameplay and engaging content.
Coinciding with this eagerly awaited launch, Heroes of Mavia introduces the “Mavia Pioneer Airdrop Program – Turbocharged.” This unique program offers early adopters, who download the game before the $MAVIA token launch on February 6th, an opportunity to participate in the $MAVIA airdrop, thereby immersing them in the world of Web3 gaming rewards.
The Heroes of Mavia community has experienced rapid growth, with its Twitter and Discord channels gaining 45,000 new followers and members in just two weeks, highlighting the game’s burgeoning popularity.
Heroes of Mavia is committed to bridging the gap between traditional gaming (Web2) and the new era of Web3 gaming. Each player is equipped with an in-built on-chain non-custodial wallet, facilitating the minting, purchasing, and trading of unique in-game items (NFTs). This feature not only enhances the gaming experience but also opens doors to the dynamic world of Web3.
The game’s recent partnership with Kick.com solidifies Heroes of Mavia’s position in the Web2 streaming world, broadening its appeal and influence within the gaming community.
Distinctively, Heroes of Mavia’s innovative Web3 model is built for sustainable growth, steering clear of the hyperinflation issues common in many play-to-earn projects. This approach promises a balanced and enriching experience for all players, whether they are long-time Web3 enthusiasts or new entrants to this exciting domain.
About Heroes of Mavia
Heroes of Mavia is a AAA mobile Web3 strategy game available on iOS and Android app stores globally. The game is backed by prominent investors such as Binance Labs, Genblock Capital, Delphi Digital, Mechanism Capital, Bitkraft, Animoca Brands among others. The native Heroes of Mavia tokens $MAVIA is set to launch on February 6th 2024.
Sourcing isn’t just a concern for procurement teams. With rising consumer and stakeholder expectations around ethical and responsible supply chains, who supplies your organization’s goods and services is also a C-suite consideration.
The sourcing process sits within supply chain management and is used for identifying, vetting and selecting the best suppliers. It’s distinct from the procurement process. Think of it this way: sourcing is the “who” (the suppliers themselves) and procurement is the “what” (goods and services).
Here are some of the most common types of sourcing:
Outsourcing
Outsourcing is using a domestic or foreign third-party to carry out an activity or provide goods or services that are typically provided in house. Companies generally outsource non-core tasks and functions that are similar across organizations, such as back-office operations (accounting, IT and human resources) and front-office operations (sales, marketing and customer support). The main motivators for outsourcing are cost savings; the flexibility to ramp up or scale back functions and goods or services as needed; and greater access to specific skills or raw materials.
The trend toward digital transformation has many organizations strengthening their operations through business process outsourcing. This has fundamentally changed the outsourcing market. Businesses now look beyond offshore outsourcing and labor arbitrage, instead leveraging artificial intelligence (AI) and automation to create efficiencies and modernize processes.
Subcontracting falls under the umbrella of outsourcing. It involves outsourcing a specific task or obligation to a subcontractor or service provider. Subcontracting is common in more complex industries, such as construction, and is often a temporary arrangement.
Insourcing
The most suitable suppliers may be in house. Insourcing leverages internal resources, such as a specific person or department, to perform tasks that could have been outsourced or were so before. Keeping tasks and functions in house offers a competitive advantage as organizations may experience greater consistency across products and services.
While often a cost-reduction strategy, insourcing also gives organizations greater control over an activity and speeds its execution. This is because the necessary resources already exist within the organization; any employees performing the task are already familiar with the company’s culture, products, services and customer base—they may just require some training or upskilling. However, in some situations, an insourcing model may choose to embed new employees or processes into the organization to achieve specific goals.
Near-sourcing
Near-sourcing, also called nearshoring, involves moving sourcing activities closer to where goods or services are sold. It can be considered an alternative outsourcing strategy: while outsourcing to distant countries may offer cheaper labor costs, it’s more difficult and costly to manage logistics. Outsourcing to a closer locale makes it easier to manage partner relationships as well as cuts transportation costs and delivery lead times. In some instances, the contracted vendor may still operate in a neighboring country, like a US firm outsourcing to Mexico.
Near-sourcing can also reduce risk. For example, supply chain disruptions are difficult to predict. But with factories or warehouses closer to the recipients of the end product or service, customer delivery is less likely to be delayed or cancelled should there be a natural disaster or geopolitical unrest.
Single sourcing
Single sourcing (or single supplier) is choosing only one supplier for all raw materials, goods and services. This can create product exclusivity with unique materials and reduce the time spent on contract negotiations and supplier selection. Single sourcing also simplifies supply chains, which makes it easier for organizations to ensure quality products and uphold ethical sourcing standards.
While single sourcing is often used interchangeably with sole sourcing, the two terms are distinct: single sourcing is a specific sourcing strategy where a business chooses only one supplier but has other options available. A sole-source strategy, on the other hand, is a situation where there is only one supplier for a particular product or service, negating the ability for businesses to choose alternatives.
Global sourcing
Global sourcing is sourcing goods or services from suppliers in global markets. This provides businesses with access to low-cost resources, incentives such as tax breaks and skills potentially unavailable in their geography. While commonly exemplified by outsourced services based in India, China and Eastern Europe, global sourcing is not synonymous with low-cost country sourcing because the latter is contingent on lower labor and production costs. In contrast, companies may engage in global sourcing when skilled workers are hard to find locally, even if businesses don’t reap cost savings from the practice.
Businesses leverage global sourcing to access advanced skills and technology using business process outsourcing, as mentioned above. However, supply chain disruptions resulting from the COVID-19 pandemic and recent climate events have revealed the risk of dependency on suppliers, skills and partners in regions far from operations.
Joint ventures
Joint ventures are partnerships between organizations to accomplish a goal. By working together and combining strengths and resources, organizations can achieve more, faster than if they were taking on a project independently. They can also expect to achieve costs savings by sharing labor and skills; technology and innovation; marketing and advertising budgets; and other well-established functions and processes, like manufacturing or logistics. For example, companies in a joint venture can use the economies of scale of the larger organization to produce goods or services at a cost advantage unattainable for the smaller company. On the supply chain front, joint ventures can increase bargaining power with suppliers as well as limit risk.
For organizations that partner with businesses in a foreign market, joint ventures also provide opportunities for exposure to a wider audience. Along the same vein, businesses that partner with brands that possess positive reputations can improve their own by association.
Vertical integration
Vertical integration is when an organization expands its own supply chain operations rather than outsourcing. Vertical integration requires significant upfront investment but allows organizations to take complete control of their supply chain operations and production processes. This is common for manufacturers that wish to sell direct to their customers instead of relying on distributors.
Vertical integration has two directions—backward integration and forward integration:
Backward integration, or upstream integration, occurs when a company becomes the supplier of products or services that it uses to produce its own products or services—through buying another company or expanding its own operations. In simple terms, backward integration removes intermediaries, improves control and accelerates growth. For example, Apple now produces its own chips that are used in its suite of technology products.
Forward integration, or downstream integration, occurs when a company takes control of distribution, or post-production processes. This allows businesses to reduce distribution costs and have more control over how they sell goods or services. For example, a shoe brand might take ownership of product sales by bypassing department stores and instead selling products at its own retail stores.
Captive service operations
Captive service operations, or captive centers, are set up by organizations in countries where the business may not yet have a presence, likely in overseas markets. Workers in these centers are fully employed by the company. The products they make or services they provide directly benefit the organization.
The advantages of captive centers include access to a new or larger talent pool, reduced costs and greater control over operations than traditional outsourcing (and therefore, less risk). However, due to the significant upfront investment required for captive centers, businesses often only establish them in locations where they have long-term growth ambitions.
Strategic sourcing methods: ethical, responsible and sustainable sourcing
There are many types of sourcing strategies. Strategic sourcing, specifically, is a procurement strategy that factors in a company’s long-term goals and business objectives when evaluating potential suppliers. Practicing strategic sourcing involves the consideration of quality standards, supplier performance, cost-effectiveness and how a long-term partnership with a high-quality supplier strengthens and streamlines the overall supply chain.
Strategic sourcing also considers sustainability and corporate social responsibility. In a recent IBM study, 77% of consumers surveyed said that buying from sustainable or environmentally responsible brands is important.
Businesses that are interested in responsible sourcing will need to make sourcing decisions that consider the social, economic and environmental impacts of their sourcing activities and suppliers. In addition to increasing customer and stakeholder demand for transparency, responsible sourcing is essential to following new and existing legislation relating to the impact of an organization’s environmental, social and governance (ESG) efforts and initiatives—such as the European Union’s (EU) Corporate Sustainability Reporting Directive (CSRD).
Organizations may also focus on sustainable sourcing or sustainable procurement goals, which put a greater emphasis on the environmental impacts of suppliers and vendors. Others may concentrate on their own ethical sourcing standards, which ensure suppliers and vendors uphold fair labor practices, make a positive social impact and practice environmental sustainability. Many are leaning on emerging technology like blockchain to ensure it.
To learn more about supplier relationship management and building a technology-enabled supply chain, explore the IBM Sterling® Supply Chain Intelligence Suite.
Transform your operations with IBM Sterling Supply Chain Intelligence Suite
BNB Chain plans to drive mass adoption of crypto in 2024, with focus on decentralised finance (DeFi), gaming, and artificial intelligence (AI).
Decentralized Physical Infrastructure Networks (DePIN), Decentralised Society (DeSoc) and the Web3 economy are also key areas.
BNB Chain has outlined its plans for the coming year, with the blockchain ecosystem targeting further adoption of crypto via key innovations across various industry sectors.
In its 2024 outlook, BNB Chain says it will focus on driving mass adoption, taking a multichain approach to push innovation across decentralised finance (DeFi), gaming, and artificial intelligence (AI).
With hackathons and events tailored to spark greater innovation, BNB Chain will also push for a thriving crypto ecosystem via initiatives around Decentralized Physical Infrastructure Networks (DePIN), Decentralised Society (DeSoc) and the Web3 economy.
Unified approach, with “One BNB”
The BNB Chain team aims at taking mass adoption of crypto via these ecosystems to the next level with fully on-chain dApps that leverage a fast, cost-effective, scalable and developer-friendly network.
BNB is the native token in the BNB Chain ecosystem.
The BNB Chain’s unified approach involves “One BNB”, an interconnectivity strategy that taps into the multi-chain framework made possible by its layer-1 platform BNB Smart Chain (BSC), layer- 2 scaling solution opBNB and decentralised storage chain Greenfield.
“The One BNB strategy integrates the BSC, opBNB, and Greenfield into a cohesive ecosystem, ensuring seamless interaction between decentralised computing and storage solutions,” BNB Chain said in a blog post.
While BSC gas limit will remain 140 million in 2024, opBNB will feature an increased gas limit of 200 million (from 100 million). Meanwhile, gas fees is set to fall as much as tenfold to $0.0001. opBNB targets achieving 10,000 transactions per second (TPS) in 2024.
BNB Chain also targets increased decentralisation, with new governance, MEV mechanism and staking integrated into BSC as the BNB Beacon Chain gets phased out. The year will also see upgrades that enhance the data storage and processing capabilities of Greenfield. Key features will include atomic update, paymaster and data availability layer.
Initiatives, including hackathons, are all targeted at bringing a diverse and vibrant blockchain ecosystem to the community in 2024, BNB Chain.
Chris Dixon, Andreessen Horowitz’s crypto founder and general partner, joined CNBC’s ‘Squawk Box’ to discuss his new book ‘Read Write Own: Building the Next Era of the Internet.’ The crypto evangelist examined some of the ideas in the book, including the role of blockchain technology in the future of the internet and a possible path for Artificial Intelligence (AI) content regulations.
Blockchain Technology Is The Future of The Internet
In the interview, Dixon reviewed some of the ideas proposed in his book. When asked about the utility of blockchain technology, the entrepreneur affirms his belief that, despite its importance, the financial side of it has been “overplayed” in the overall discussion. While payments, DeFi, and Bitcoin are important applications, blockchain technology has much more to offer, as he views it.
Blockchains as an expansive technology. It’s a new way to build internet services. Those can be games, they can be social networks, they can be financial services.
Regarding adoption, Dixon sees the recent spot Bitcoin Exchange-Traded Funds (ETF) approval by the US Securities and Exchange Commission (SEC) as a positive signal for the crypto industry. He considers any crypto acceptance by traditional investors to be “a good thing” after years of crypto being seen as “controversial.”
Following the spot ETF approval discussions, he believes that more acceptance of ETFs and other financial instruments using digital assets will increase because blockchain technology “is inevitable, it’s the future of the internet.”
Should The Government Regulate AI Technology?
During the interview, Dixon highlighted his enthusiasm for AI technology, “I’m very excited about AI. Our firm invests in a lot of AI. It’s a very powerful new technology.” However, he acknowledged the need for clear regulations regarding the technology’s use as it has been involved in many controversies in recent years.
Lately, concerns about the use of AI technology have increased after a wave of AI-generated deepfakes has flooded the internet. This month, crypto users were alerted of AI-generated scam videos using MicroStrategy co-founder Michael Saylor’s image to promote Bitcoin-related scams.
Saylor went on X to inform him that his team had been deleting 80 fake videos using his likeness daily. Similarly, Solana co-founder Anatoly Yakovenko’s image and voice were used for fake videos, offering a giveaway through a QR code to thank the community for a “historic day.”
Anatoly Yakovenko’s deepfake Ad promoting the fake giveaway on January 16, 2024. Source: Youtube.com
The entrepreneur sees AI-generated deep fake videos as an increasingly common problem that continues to affect the crypto community and the general public due to the advanced technology behind it, as he explained:
You are also going to see very advanced phishing and very advanced counterfeit people. It’s going to be very hard to tell on the internet what’s real and what isn’t.
He affirms that “blockchains are an important countermeasure” to the AI-generated fake videos problem since blockchains create “an immutable audit trail” that can be used to give a provenance record to content.
“You can have an immutable audit trail saying this video came from CNBC, it came from the New York Times,” Dixon explained.
Dixon believes that this approach should be considered. However, he also thinks it would be challenging to implement “without some sort of government action” and without social networks having “some enforcement so they don’t show fake videos.”
Last week, White House press secretary Karine Jean-Pierre told reporters that the US Congress should take legislative action to address fake AI-generated images after sexually explicit AI-generated images of singer Taylor Swift started circulating the X (formerly known as Twitter) platform.
These images amassed 45 million views on the platform and were mass-reported by users. The X team took the AI-generated content down and restricted the search for them on the platform. It remains to be seen if blockchain technology can be implemented to resolve these issues.
Bitcoin is trading at $43,443.3 in the hourly chart. Source: BTCUSDT on TradingView.com
Featured image from Unsplash.com, Chart from TradingView.com
Standard Chartered Bank says the SEC could approve spot Ethereum ETFs on May 23, the final deadline for applications currently before the regulator.
Ethereum price could surge to over $4,000 by then, the bank said in a report.
The US Securities and Exchange Commission (SEC) is likely to give a nod to the first spot Ethereum ETF in May, the Standard Chartered Bank said in a report on Tuesday.
In particular, the bank’s analysts see the regulator approving the ETH spot ETFs on May 23. According to the bank’s note shared with clients and reported on by The Block, the May date is the final deadline for applications before the SEC.
“We expect pending applications for ETH U.S. spot ETFs to be approved on May 23, the final deadline for the first of the ETFs under consideration — the equivalent date to Jan. 10 for BTC ETFs,” Geoffrey Kendrick, Head of Forex and Digital Assets Research at Standard Chartered Bank, said.
ETH price could surge to $4,000
The SEC recently delayed spot Ethereum ETF applications for BlackRock and Fidelity. However, should the regulator approve the ETF proposals before it, the price of Ethereum could skyrocket. In the lead up to the approval, Standard Chartered sees a potential spike to $4,000.
“If ETH prices perform similarly to how BTC prices performed in the lead-up to BTC ETF approval, ETH could trade as high as $4,000 by then.”
Bitcoin price rallied following BlackRock’s spot Bitcoin ETF application, surging from around $25k to hit a a high of $49k. While prices are back to lows of $43k, after rebounding from around $38.6k last week, the market is bullish as the next BTC halving approaches.
Ethereum surged after BlackRock filed for a spot ETH ETF in November, reaching highs above $2,700. The leading altcoin’s price is currently near $2,375, up 3% in the past hour as the altcoin market looks to bounce alongside the benchmark cryptocurrency.
Next week, on Feb. 7, Dencun will go live on its final Ethereum testnet, Holesky. After that, developers will ink in a date to activate Dencun on the main blockchain.
Standard Chartered Bank has projected that the U.S. Securities and Exchange Commission (SEC) will give the green light to spot Ethereum exchange-traded funds (ETFs) by May 23, The Block reported Jan. 30, citing a research report.
This expectation mirrors the timeline and approach previously seen in the SEC’s approval process for spot Bitcoin ETFs.
Ethereum’s classification
According to Geoffrey Kendrick, the head of forex and digital assets research at Standard Chartered, the approval of Ethereum ETFs seems likely given the SEC’s previous stance on ETH.
Unlike certain cryptocurrencies that have been classified as securities in legal actions against crypto firms, Ethereum has avoided such categorization. Additionally, ETH’s presence as a regulated futures contract on the Chicago Mercantile Exchange bolsters the likelihood of approval.
Kendrick’s predictions extend beyond mere approval, suggesting a potential spike in Ethereum’s price to $4,000, akin to Bitcoin’s price performance prior to its ETF approval. He noted:
“If ETH prices perform similarly to how BTC prices performed in the lead-up to BTC ETF approval, ETH could trade as high as $4,000 by then.”
Ethereum ETFs
The potential for Ethereum ETFs isn’t without its nuances. Kendrick anticipates the initial approvals to focus on simple Ethereum ETFs that track the price movements of ETH. He predicted that more complex offerings, such as ETFs incorporating staking yield rewards, may emerge later, drawing on European models as a reference.
Furthermore, Kendrick comments on Ethereum’s impending network upgrades, like Dencun or Proto-Danksharding, viewing them as beneficial for price growth. These upgrades will enhance the Ethereum ecosystem’s value retention by reducing Layer 2 fees and maintaining higher staking rewards.
Kendrick also maintained a positive view of the broader cryptocurrency market, including Bitcoin. His earlier projections anticipated a surge in the flagship cryptocurrency’s price to $100,000 by year-end and a staggering $200,000 by the close of 2025, driven by inflows into spot Bitcoin ETFs.
ETH Price & Market Data
At the time of press, Ethereum is ranked #2 by market cap and the ETH price is up 3.16% over the past 24 hours. ETH has a market capitalization of $285.23 billion with a 24-hour trading volume of $9.81 billion. Learn more about ETH ›
At the time of press, the global cryptocurrency market is valued at at $1.68 trillion with a 24-hour volume of $55.56 billion. Bitcoin dominance is currently at 50.83%. Learn more ›
GRAND CAYMAN, Cayman Islands, January 30th, 2024, Chainwire
In the past four months, Sui TVL has jumped by more than 1000%, vaulting the network past Base, Cardano, and Bitcoin in its meteoric DeFi rise
Sui, a leading Layer 1 blockchain that was created by the team that led Meta’s Diem crypto project, continued its blistering DeFi growth, surpassing $430M in Total Value Locked (TVL) and moving into the top 10 blockchains by that metric. Alongside this torrid ascent of TVL, on-chain activity has exploded as well. Weekly DeFi volume is up more than 1200% since October demonstrating the growth in demand that will drive a sustained flywheel effect that supports the future expansion of the entire Sui DeFi ecosystem.
“Less than a year since the launch of its mainnet, the growth of the Sui DeFi ecosystem has been nothing short of remarkable. This momentum validates both the technology and dedication of the Sui community,” said Greg Siourounis, Managing Director of the Sui Foundation. “Most importantly, what we are seeing in these numbers is developers on Sui building products that people are using to address real-world challenges. That dynamic will form the basis of a sustainable decentralized network that lasts well into the future.”
Because of its object-centric model and horizontal scaling, Sui is uniquely performant, scalable, and secure. As a result, Sui is particularly well-suited to host solutions that can operate at scale. Sui’s fast-rising TVL is a direct result of multiple Sui-based protocols and applications leveraging the strengths of Sui to grow at an extremely rapid rate.
Based on the strengths of its technology as well as the top builders and developers that have begun leveraging its platform, Sui is quickly amassing a complete set of ecosystem applications offering seamless composability. From liquid staking to decentralized exchanges (DEXs), to top lending protocols, and the additions of DePIN and DeWi to the network, Sui boasts a technology stack that exceeds Layer 1 blockchains that have been around for years longer.
Sui is now home to four protocols at over $50M TVL and nine protocols at over $10M, showcasing the depth of the ecosystem where multiple projects are flourishing. The Lending protocol Scallop Lend tops the list with $96M TVL, followed by Navi Protocol at over $91M. The top five is rounded out with three decentralized exchanges (DEXes), Cetus, Aftermath Finance, and FlowX Finance.
Most recently, Sui announced that Banxa, a leading payments infrastructure provider for the crypto-compatible economy, will add the SUI token to its platform. The integration will increase access to the Sui blockchain for users around the world, thanks to a suite of Banxa’s global and local payment methods, which have processed over $3 billion in transactions since its launch in 2014. Additionally, Mysten Labs’ Sui Wallet will provide users the opportunity to purchase SUI tokens through Banxa’s fiat on-ramp solution and once fully integrated, to utilize its off-ramp solution.
Sui also recently announced a partnership with Oracle Stork to provide builders with faster pricing data, offering real-time pricing data across Sui’s ecosystem of developers, DEXs, and lending protocols building on Sui’s blockchain. This integration will enhance speed and access to unique index and mark prices for builders and users of DeFi applications on Sui.
The game industry is enduring a tumultuous period — but amidst the layoffs, the technological acceleration, the new platforms and shifting business models — there is also enormous opportunity… But only if one invests wisely.
Here is what I cover in my recent substack article:
???? Revenue is down, while costs are up: this is why layoffs are happening. But what can teams do to navigate the next year? ???? “This Game is Fun, Bro” — the divide between the mainstream gaming markets and what vocal groups claim on social media; the importance of a great game. ???? What spatial computing will and won’t do for gaming ???? The disruptive effect of creator-led platforms such as Roblox ???? Longer-term impact of Apple’s adversity towards developers ???? The Web Renaissance — what’s going to happen due to WebGPU, and the relative disadvantage of native mobile marketing, and other technological innovations ???? Cracks in the 3D Engine market — developer willingness to switch engines ???? Next-gen rendering pipelines (Unreal 5 innovations, Gaussian Splats, etc.) and what they mean for developers in the short-to-medium term ???? The strength of PC Gaming ???????? The growth of UGC within PC games ⚔ The importance of IP, and how it’s shifting towards game-first IP ???? Impact of Generative AI on both production and in-game experience Importance of decentralized AI ???? The state of open-economy (blockchain and other) games ???? The growing cost of Live Operations — and how to make it capital-efficient
What can your organization achieve with a modern observability solution? Data from a new Forrester Consulting study showed that a composite organization that used the IBM Instana™ Observability platform achieved a 219% ROI over three years. Likewise, it saw a 90% reduction in troubleshooting time by providing high fidelity data to the right people at the right time.
About the study
IBM commissioned Forrester to conduct the Total Economic Impact™ (TEI) study by interviewing four clients about the value of their investments in IBM Instana. The clients shared that since deploying IBM Instana, their organizations were able to find and fix incidents quickly, saving valuable time for developers and operations teams.
Based on the in-depth client interviews, Forrester constructed a single composite organization that aggregated the representatives’ experiences with using the Instana platform. The composite organization that Forrester identified is a global company with 10,000 employees and $2B in annual revenue. It has 300 applications, half of which are under Instana and include a mix of on-premises and cloud-based, monolithic and microservice-based.
Looking at the composite organization, many quantifiable benefits were identified, including the following three-year financial impact:
Achieved an ROI of 219%
Reduced the time spent troubleshooting by 90%
Responded to incidents 75% faster
Reduced mean time to repair by 70%
Reduced revenue-impacting incidents by up to 60%
Improved operational efficiency by 40%
Learn more
Delve more into the details by downloading The Total Economic Impact of IBM Instana Observability study or try Instana for yourself.
San Francisco, California, January 30th, 2024, Chainwire
Linera, the layer-1 blockchain protocol pioneering microchains to give users their own blockspace, today announced the deployment of its Devnet. Founded by Mathieu Baudet, a former Meta researcher and infrastructure engineer who helped develop the technology underlying Novi digital payments called FastPay, Linera’s technology brings unprecedented horizontal scalability to web3 through its unique protocol.
Linera’s groundbreaking microchain model grants each individual user wallet their own lightweight chains to store their assets and streamline web3 app interactions. Because Microchains are small enough to be replicated into browser extensions and mobile devices, Linera makes it easy for application interfaces to access the on-chain data of their users.
The Linera system scales by adding chains, not by increasing the size or the production rate of blocks. During times of high demand, Linera’s validators expand dynamically like elastic web services. Scaling at the validator level rather than at the blockchain level, this fresh approach unlocks horizontal scalability for web3 applications requiring support for limitless active users and real-time interactions.
Targeting Rust developers and built on the WebAssembly (Wasm) virtual machine, Linera’s Devnet is now available for testing. Developers can now test their projects on a small number of test validators operated by the Linera core team. This Devnet is the next step in testing and deploying on Linera, further streamlining the development process and offering a more efficient environment for developers building prototypes at the forefront of web3.
“Web3 is set to fundamentally change how we interact with the Internet, particularly in how web applications manage assets. At Linera, our goal is to redefine this landscape by ensuring our applications can consistently perform at scale for any number of users,” stated Baudet. “Our approach with Linera is focused and user-centric, placing the needs and experiences of end users at the forefront of our protocol.”
In August 2023, Linera successfully raised additional seed funding, reaching a total of $12 million from Borderless Capital, Laser Digital Ventures, Flow Traders, GSR Markets, and more, alongside continued support from a16z crypto, Tribe Capital, and Cygni Capital, who participated in the initial seed round. Linera continues to grow their team and global developer community.
“With Linera’s Devnet, we can test our social feed application in a more realistic environment, over a real network connection,” said Zhao KK, founder of ResPeer, a peer-to-peer content publishing platform built natively on the Linera SDK.
“Linera’s unique architecture and support for Rust makes building on the platform intuitive, significantly accelerating our development process and freeing me up from maintaining my own backend infrastructure. Microchains open up new opportunities for the features I can build while ensuring performance. I’m excited to be actively involved in shaping this emerging ecosystem and cutting-edge technology.”
The introduction of Linera Devnet propels the Linera project forward, a significant step towards offering the blockchain community infrastructure that guarantees performance for an unlimited number of active users, thereby redefining what scalability looks like in web3. The availability of this Devnet reinforces Linera’s commitment to providing developers with robust tools and a versatile environment for innovation.
By using the popular Rust programming language and putting end users at the center of the protocol, Linera’s microchains continue to build towards a paradigm shift in Web3 infrastructure that effectively addresses the needs of the blockchain community.
Linera is the first low-latency blockchain designed to scale elastically. Founded by Mathieu Baudet, a former Meta/Novi engineer and researcher, with a PhD in cryptographic protocols, Linera revolutionizes blockchain scalability by introducing microchains, removing mempools, and minimizing validator interactions. Linera optimizes performance for web3 applications used by a large number of active users in parallel, enabling unprecedented horizontal scalability for use cases such as retail payments, gaming micro-payments, messaging, proprietary trading, and blockchain bridges.
To address regulatory concerns in Hong Kong, the Floki team said that they have implemented measures, including warning notices, blocking Hong Kong users from their staking programs, and pausing their offline marketing campaign in the region, ensuring no Hong Kong users have joined the program to date. Staking refers to locking cryptocurrencies in a blockchain network in return for rewards.
TD Cowen’s Washington Research Group predicted that spot Ethereum ETFs will not gain approval this year, according to Kitco on Jan. 29.
The U.S. Securities and Exchange Commission (SEC) must soon decide on proposed rule changes that would allow spot Ethereum ETFs to be listed and traded on securities exchanges. TD Cowen argued that approval is unlikely, stating:
“[The SEC] can eventually reject the rule change, which either will lead to a new application or litigation … Either will take another year or two to play out.”
In that event, any possible spot Ethereum ETF approval is unlikely to occur until late 2025 or early 2026, the research group said.
The SEC must reach a decision on VanEck’s spot Ethereum ETF application by May 23 but is not required to approve the fund. The securities agency is expected to reach a decision on similar applications at the same time.
Other sources are divided on whether a May approval is likely. One Polymarket prediction market suggests 47% odds of approval, while one JP Morgan executive has suggested a 50% chance of approval. Bloomberg ETF analyst James Seyffart is slightly more optimistic and has predicted a 60% chance of approval.
Political factors are at play
TD Cowen said that its low approval expectations are based on partisan attitudes toward cryptocurrency. The research group wrote:
“This is a political call. We believe there is no upside for SEC Chair Gary Gensler to approve a spot Ethereum ETF given how upset progressive Democrats were over the agency’s approval of a spot bitcoin ETF earlier this month.”
TD Cowen noted that SEC Chair Gary Gensler, a Democrat, needs support from progressives in order to advance his agenda or potentially obtain a different government position in the event that U.S. President Joe Biden wins a second term. It suggested that approving a spot ETF would involve a “needless fight” and that Gensler is likely in “no hurry” to approve such a fund.
Democrats broadly opposed the earlier approval of spot Bitcoin ETFs, as TD Cowen observed. Within the SEC, two Democratic commissioners voted against the approval of a spot Bitcoin ETF while two Republicans voted in favor of approval. Gensler voted in favor of approval in spite of his Democratic party membership and his broader concerns about cryptocurrency.
Outside of the SEC, Democratic Senator Elizabeth Warren expressed complaints about the decision to approve a spot Bitcoin ETF on Jan. 12.
Phoenix, United States, January 29th, 2024, Chainwire
Devour, the transformative next-gen web3 food ordering and engagement platform, today announced the addition of Paul Barron as a strategic advisor. Barron brings a wealth of experience and expertise across technology, media, and web3, making him a valuable asset to Devour’s leadership team.
Barron is the CEO and Analyst of the Paul Barron Network, a multimedia platform that educates and inspires audiences on the future of technology. With over 20 years of experience in computer science, consumer science, and digital media, Barron leverages his deep knowledge to produce engaging and insightful content across video, podcasts, research, and analytics. His focus areas include cutting-edge technologies like crypto and blockchain, AI, robotics, and consumer tech.
Beyond his media ventures, Barron is also the founder of Rever Networks, Inc., a company dedicated to bridging the gap between blockchain advancements and established brands. He is the creator of the Market Sentiment Index, a powerful sentiment analysis tool used by leading players in blockchain, crypto, gaming, and NFTs.
“We are thrilled to welcome Paul Barron to our team of advisors,” said Shelly Rupel, CEO of Devour. “His deep understanding of hospitality, gaming, and web3 perfectly aligns with Devour’s mission to redefine Gen Z experiences. Paul’s expertise of gaming trends, and his grasp of web3’s potential are invaluable assets as we shape the future of hospitality.”
Barron’s expertise extends beyond technology. He is a recognized thought leader in new media and consumer science, having received numerous awards and honors for his work. He has been featured in prominent publications and media outlets, and his advisory and consulting services are sought after by businesses across various sectors seeking to navigate the ever-evolving tech landscape, integrate blockchain solutions, and prepare for the future of Web3.
“Devour’s audacious vision of gamifying food and building communities through tokenized experiences is like rocket fuel for Gen Z engagement,” said Barron. “My expertise in bridging tech and consumer trends is a perfect match for their ambitious mission to meet Gen Z where they live, through tokenized campaigns and food-fueled gaming experiences”
Barron’s appointment as advisor underscores Devour’s commitment to building a best-in-class advisory board with the experience and vision to shape the future of web3. His diverse skill set and passion for technology will undoubtedly contribute to Devour’s continued success.
About Devour
Devour is revolutionizing the digital dining experience with a cutting-edge platform that seamlessly integrates web3 token-gated ordering, promotions, and crypto payments. Our DevourGO app, along with embeddable ordering and engagement solutions, caters to the preferences of over 200 million U.S. gamers. Our gamified loyalty, NFT-based competitions, and player rewards programs are powered by blockchain for a dynamic fusion of digital entertainment and the love of food. Join us in transforming how the digital generation engages with food, gaming, and entertainment.
Recent years have witnessed an explosion in the proliferation of self-storage units. These large, warehouse units have sprung up nationally as a booming industry because of one reason—the average person now has more possessions than they know what to do with.
The same basic situation also plagues the world of IT. We’re in the midst of an explosion of data. Even relatively simple, everyday objects now routinely generate data on their own thanks to Internet of Things (IoT) functionality. Never before in history has so much data been created, collected and analyzed. And never before have more data managers wrestled with the problem of how to store so much data.
A company may initially fail to recognize the problem or how large it can become, and then that company has to find an increased storage solution. In time, the company may also outgrow that storage system, requiring even more investment. Inevitably, the company will tire of this game, and will seek a cheaper and simpler option—which brings us to data deduplication.
Although many organizations make use of data deduplication techniques (or “dedupe”) as part of their data management system, not nearly as many truly understand what the deduplication process is and what it’s intended to do. So, let’s demystify dedupe and explain how data deduplication works.
What does deduplication do?
First, let’s clarify our main term. Data deduplication is a process organizations use to streamline their data holdings and reduce the amount of data they’re archiving by eliminating redundant copies of data.
Furthermore, we should point out that when we speak about redundant data, we’re actually speaking at the file level and referring to a rampant proliferation of data files. So when we discuss data deduplication efforts, it’s actually a file deduplication system that’s needed.
What’s the main goal of deduplication?
Some people carry an incorrect notion about the nature of data, viewing it as a commodity that simply exists to be gathered and harvested—like apples off a tree from your own backyard.
The reality is that each new file of data costs money. In the first place, it usually costs money to obtain such data (through the purchase of data lists). Or it requires substantial financial investment for an organization to be able to gather and glean data on its own, even if it’s data that the organization itself is organically producing and collecting. Data sets, therefore, are an investment, and like any valuable investment, they must be protected rigorously.
In this instance, we’re talking about data storage space—be it in the form of on-premises hardware servers or through cloud storage via a cloud-based data center—that must be purchased or leased.
Duplicate copies of data that have undergone replication, therefore, detract from the bottom line by imposing additional storage costs beyond those associated with the primary storage system and its storage space. In short, more storage media assets must be devoted to accommodate both new data and already-stored data. At some point in a company’s trajectory, duplicate data can easily become a financial liability.
So, to sum up, the main goal of data deduplication is to save money by enabling organizations to spend less on extra storage.
Additional benefits of deduplication
There are also other reasons beyond storage capacity for companies to embrace data deduplication solutions—probably none more essential than the data protection and enhancement they provide. Organizations refine and optimize deduplicated data workloads so they will run more efficiently than data that’s rife with duplicate files.
Another important aspect of dedupe is how it helps empower a speedy and successful disaster recovery effort and minimizes the amount of data loss that can often result from such an event. Dedupe helps enable a sturdy backup process so an organization’s backup system is equal to the task of handling its backup data. In addition to helping with full backups, dedupe also aids in retention efforts.
Still another benefit of data deduplication is how well it works in conjunction with virtual desktop infrastructure (VDI) deployments, thanks to the fact that the virtual hard disks behind the VDI’s remote desktops operate identically. Popular Desktop as a Service (DaaS) products include Azure Virtual Desktop from Microsoft and its Windows VDI. These products create virtual machines (VMs), which are created during the server virtualization process. In turn, these virtual machines empower the VDI technology.
Deduplication methodology
The most commonly used form of data deduplication is block deduplication. This method operates by using automated functions to identify duplications in blocks of data and then remove those duplications. By working at this block level, chunks of unique data can be analyzed and specified as being worthy of validation and preservation. Then, when the deduplication software detects a repetition of the same data block, that repetition is removed and a reference to the original data is included in its place.
That’s the main form of dedupe, but hardly the only method. In other use cases, an alternate method of data deduplication operates at the file level. Single-instance storage compares full copies of data within the file server, but not chunks or blocks of data. Like its counterpart method, file deduplication depends upon keeping the original file within the file system and removing extra copies.
It should be noted that deduplication techniques do not work in quite the same manner as data compression algorithms (e.g., LZ77, LZ78), although it’s true that both pursue the same general goal of reducing data redundancies. Deduplication techniques achieve this on a larger, macro scale than compression algorithms, whose goal is less about replacing identical files with shared copies and more about more efficiently encoding data redundancies.
Types of data deduplication
There are different types of data deduplication depending on when the deduplication process occurs:
Inline deduplication: This form of data deduplication occurs in the moment—in real-time—as data flows within the storage system. The inline dedupe system carries less data traffic because it neither transfers nor stores duplicated data. This can lead to a reduction in the total amount of bandwidth needed by that organization.
Post-process deduplication: This type of deduplication takes place after data has been written and placed on some type of storage device.
Here it’s worth explaining that both types of data deduplication are affected by the hash calculations inherent to data deduplication. These cryptographic calculations are integral to identifying repeated patterns in data. During in-line deduplications, those calculations are performed in the moment, which can dominate and temporarily overwhelm computer functionality. In post-processing deduplications, the hash calculations can be performed at any time after the data is added in a way and at a time that doesn’t overtax the organization’s computer resources.
The subtle differences between deduplication types don’t end there. Another way to classify deduplication types is based on where such processes occur.
Source deduplication: This form of deduplication takes place near where new data is actually generated. The system scans that area and detects new copies of files, which are then removed.
Target deduplication: Another type of deduplication is like an inversion of source deduplication. In target deduplication, the system deduplicates any copies that are found in areas other than where the original data was created.
Because there are different types of deduplication practiced, forward-leaning organizations must make careful and considered decisions regarding the type of deduplication chosen, balancing that method against that company’s particular needs.
In many use cases, an organization’s deduplication method of choice may very well come down to a variety of internal variables, such as the following:
How many and what type of data sets are being created
The organization’s primary storage system
Which virtual environments are in use
Which apps the company rely upon
Recent data deduplication developments
Like all computer output, data deduplication is poised to make increasing use of artificial intelligence (AI) as it continues to evolve. Dedupe will grow increasingly sophisticated as it develops even more nuances that assist it in the pursuit of finding patterns of redundancy as blocks of data are scanned.
One emerging trend in dedupe is reinforcement learning. This uses a system of rewards and penalties (like in reinforcement training) and applies an optimal policy for separating records or merging them instead.
Another trend worth watching is the use of ensemble methods, in which different models or algorithms are used in tandem to ensure even greater accuracy within the dedupe process.
The ongoing dilemma
The IT world is becoming increasingly fixated on the ongoing issue of data proliferation and what to do about it. Many companies are finding themselves in the awkward position of simultaneously wanting to retain all the data they have worked to amass and also wanting to stick their overflowing new data in any storage container possible, if only to get it out of the way.
While such a dilemma persists, the emphasis on data deduplication efforts will continue as organizations see dedupe as the cheaper alternative to purchasing more storage. Because ultimately, although we intuitively understand that business needs data, we also know that data very often requires deduplication.
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