New Non-Custodial, Cross-Chain Browser Wallet to Compete with MetaMask by Focusing on DeFi and NFTs

New Non-Custodial, Cross-Chain Browser Wallet to Compete with MetaMask by Focusing on DeFi and NFTs

XDEFI has released its rival to the popular crypto wallet MetaMask which reported more than 10 million active users in August.

Last month, XDEFI Wallet raised $6 million led by Mechanism Capital and Defiance Capital, with other investors including Alameda Research, Sino Global, and Animoca Brands.

Now it has announced the public release of its non-custodial, cross-chain wallet built with a focus on decentralized finance (DeFi) and non-fungible tokens (NFTs).

This week, the team unveiled XDEFI Wallet 7.0 and introduced the Ape Mode for the apes and degens of crypto.

The wallet uses a proprietary gas algorithm to ensure that even during times of congestion, transactions get into the next block timely, says the team.

It is also optimized for EIP-1559 allowing “users the maximum benefit from Ethereum’s London hard fork while still maintaining an accessible interface.” By adding a network activity section in-app, it reduces reliance on third-party sites. ETH 3.35% Ethereum / USD ETHUSD $ 3,608.86
$120.903.35%
Volume 16.15 b Change $120.90 Open $3,608.86 Circulating 117.91 m Market Cap 425.53 b
7 h New Non-Custodial, Cross-Chain Browser Wallet to Compete with MetaMask by Focusing on DeFi and NFTs 11 h US Dollar Hits One-Year High But Bitcoin No Longer Holds an Inverse Correlation with it 1 d BSC Is Back in the Game as Binance Announces $1 Billion Incentives Program to Pump the Ecosystem

While the wallet already offers access to chains like Terra (LUNA) and THORChain (RUNE), which are not available on MetaMask, support for other popular blockchains like Solana (SOL) and Avalanche (AVAX) along with layer 2 solutions like Arbitrum will be added along the way. LUNA 2.38% Luna Coin / USD LUNAUSD $ 0.01
$0.002.38%
Volume 0 Change $0.00 Open $0.01 Circulating 1.71 m Market Cap 12.73 K
7 h New Non-Custodial, Cross-Chain Browser Wallet to Compete with MetaMask by Focusing on DeFi and NFTs 5 d AnySwap and Aave Fork Geist Finance Send Fantom TVL Past $9 Billion, FTM Makes a New ATH 1 w Shift to Risk-on: Bitcoin Is Up 12% Already in Uptober Amidst Stock Market Weakness
RUNE 1.10% THORChain / USD RUNEUSD $ 7.33
$0.081.10%
Volume 47.74 m Change $0.08 Open $7.33 Circulating 224.41 m Market Cap 1.65 b
7 h New Non-Custodial, Cross-Chain Browser Wallet to Compete with MetaMask by Focusing on DeFi and NFTs 3 w DeFi Autumn after Solana Summer? Traders Still Short as Bitcoin Jumps to $48k and Ether to Nearly $3,700 1 mon DeFi Rallies Towards New Highs As Multiple Layer 1 Blockchains Amaas $50 Billion in TVL
SOL -2.60% Solana / USD SOLUSD $ 148.26
-$3.85-2.60%
Volume 2.07 b Change -$3.85 Open $148.26 Circulating 299.9 m Market Cap 44.46 b
7 h New Non-Custodial, Cross-Chain Browser Wallet to Compete with MetaMask by Focusing on DeFi and NFTs 1 d NFT Deposits and Withdrawals are Now Live on FTX US for Institutional Favorite Solana (SOL) 1 d Institutions Are Back to Pouring Money into Bitcoin as a “Perfect Storm” Brews for the King
AVAX 1.39% Avalanche / USD AVAXUSD $ 55.04
$0.771.39%
Volume 651.96 m Change $0.77 Open $55.04 Circulating 220.29 m Market Cap 12.12 b
7 h New Non-Custodial, Cross-Chain Browser Wallet to Compete with MetaMask by Focusing on DeFi and NFTs 1 d BSC Is Back in the Game as Binance Announces $1 Billion Incentives Program to Pump the Ecosystem 5 d AnySwap and Aave Fork Geist Finance Send Fantom TVL Past $9 Billion, FTM Makes a New ATH

As for NFTs, the wallet offers automatic detection and a drag-and-drop NFT display grid.

Users can also buy crypto directly within the XDEFI Wallet, for which it claims not to charge a fee.

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Author: AnTy

Bureau Of Fiscal Service Revisits Blockchain Technology Development To Streamline Grants

The Bureau of Fiscal Service, BFS, is focusing its energies on innovative technologies such as blockchain technology in a bid to enhance the government’s fiscal policies and “streamline its financial processes.” BFS will launch two projects – Digital End-to-End Efficiency (DEEE) and Blockchain for Grants – in a re-imagining strategy on how federal governments carry out day to day businesses.

According to the release, the Blockchain for Grants project was started back in 2017, aiming to create digital solutions to ease the tokenization, redeeming and transfer of grant payments from the government.

Blockchain technology offers a transparent, public, and secure platform to enhance the disbursement of grants by reducing the financial costs and setting up better internal controls. According to the statement, the blockchain for grants project “will focus on evaluating the functional and legal implications of using blockchain technology for helping grant payments.”

Fiscal Service Supervisory Program Manager Craig Fischer said,

“By tokenizing relevant grant award information and combining it with grant payment information on the blockchain, we attain new payment transparency that we couldn’t reach previously without significant and burdensome reporting.”

The BFS office has launched both innovative projects for a six-month period.

The latest blockchain interest from the Bureau of Fiscal Service follows a blockchain-based initiative to track office tools across the country.

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Author: Lujan Odera

BlockFi Taps CF Benchmarks’ Crypto Pricing Indexes for its Lending Products

BlockFi, a financial services firm focusing on crypto products, has partnered with CF Benchmarks, which will now provide them with ‘independent pricing and valuation’ of their clients’ underlying digital assets. available comes barely a week since BlockFi raised $50 million in a Series C funding, increasing the company’s prospects of scaling crypto adoption in both retail and institutional markets.

According to the press release shared with BEG, the partnership will enable BlockFi’s clientele to integrate better asset allocation and risk management strategies towards their crypto lending deposits and collateral. Consequently, BlockFi is optimistic that its partnership with CF Benchmarks will enable investors to realize the full value of their investments given embedded performance measures.

Notably, CF Benchmarks are regulated by U.K’s Financial Conduct Authority (FCA) hence an additional value in terms of compliance and trustworthiness. The firm’s benchmark indexes for digital assets have so far been used to value over $200 billion worth of crypto derivatives, listed by Kraken Futures and CME Group. BlockFi CEO, Zac Prince, was keen to highlight these competitive advantages given their goal to scale crypto adoption,

“CF Benchmarks has set the gold standard for crypto price indexes, and these credible and regulated price sources are imperative to the acceleration and support of the rapid crypto adoption we’re seeing from institutional and retail investors worldwide.”

This CF Benchmarks hailed ‘independent pricing approach’ leverages transparent governance and public methodologies to generate indexes for tracking and valuing crypto assets. According to the company’s CEO, Sui Chung, the structure of their crypto benchmark indexes is unique in that,

“We use tried and trusted methods from traditional finance combined with crypto-specific concepts while providing the utmost transparency through published methodologies, policies, governance, and oversight.”

Chung also highlighted that they are proud to be working with an industry leader like BlockFi, which has now identified the value proposition in putting licensed and robust crypto indexes to use.

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Author: Edwin Munyui

Top Bitcoin Mining Firms Bitmain, Ebang, and Canaan Shift Focus to the Development of AI Chips

  • Major Bitcoin mining firms are focusing on the development of high-powered AI equipment to stay ahead of the curve and bring in new revenue streams.
  • This follows the high volatility experienced in mining revenues and costs across the first half of 2020, a report by TokenInsight Analysis states.

The Bitcoin mining industry is facing an overhaul in mining equipment production as three of the top mining pools – Bitmain, Ebang, and Canaan – all aim at introducing AI chips in the future. Since the launch of Bitcoin, miners have pocketed over $14 billion in rewards, but this revenue is slowly diminishing as new, higher-powered mining rigs outperform older machines.

Bitcoin mining firms are aiming to further the technological progress in chip research and development by introducing AI or Artificial Intelligence.

Across the first half of 2020, newer and more powerful machines, including Bitmain’s S19 and S19 Pro, WhatsMiner M30 series, and Canaan’s A1146 Pro and A1166 Pro have launched, improving the power consumption and optimization to earn sufficient rewards. According to the report, older machines are seeing a rise in costs of mining BTC since the halving in May hence lowering their profitability as and “putting their revenue at stake.”

In a bid to beat the ever-advancing mining rigs, Samsung and Taiwan’s Semiconductor Manufacturing Company (TSMC) are testing 3nm chips with a mass production plan in 2022. However, these chips are already reaching the physical limits, and the latter plans to launch 2nm chips in 2024.

Bitmain, Ebang, and Canaan are, however, focusing on the next level – AI-powered chips. According to the report, AI chips offer a broader and faster prospect than its predecessors, ensuring “a high degree of overlap with mining machine chips in terms of design and manufacturing.” Additionally, these chips will offer high calculation speeds, in the millions per second, and “can also be quickly transplanted to the field of AI chips.”

As such, BTC mining firms will be fighting to lead the manufacturing of these AI chips to provide mining manufacturers with a new revenue stream as we head into the next halving.

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Author: Lujan Odera

Power Ledger Report Suggest Its P2P Energy Trial is Ready for a Real-World Use

Power Ledger, a blockchain startup focusing on energy conservation through blockchain and based out of Australia, recently concluded its trial run for a blockchain P2P project for solar energy trading and released a report for the same suggesting the trail was a success.

The study also revealed that the trial run has the technical feasibility to launch on a large scale for real-world use.

The trial run was initiated in December 2018 and was concluded in January this year under the RENeW Nexus Project (An Australian not-for-profit organization). The trial made use of Power Ledger’s blockchain technology to trace the transaction for rooftop solar energy traded among households.

The peer-to-peer solar energy trading was partly funded by the Government of Australia, which surveyed 48 households in Fremantle, Western Australia. The outcome of the trial run found Ledger’s p2p energy trading reduced the cost of energy consumption. Jemma Green, chairman of Power Ledger, commented on the newly released report and said:

“Power Ledger has demonstrated how peer-to-peer energy trading can incentivize the right outcomes for the grid in a more cost-effective way.”

Blockchain Can Offer Stable Power Grids for Lower Costs

Power Ledger, in association with Curtin and Murdoch Universities, published another report last month detailing the findings of the P2P trial run. The study concluded that the use of blockchain for P2P energy trading helps local energy markets to keep the power grid stable and offer electricity at a lower price.

The P2P energy trial run includes a study of distributed Virtual Power Plant (VPP), a microgrid with 650 kWh battery powering homes for the East Village development in Fremantle, a sustainable development project featuring green homes that only run on clean and green energy. An excerpt from the report:

“Participants had a positive view of P2P energy trading and could see its benefits but stated that changes to the tariff structure would be required to make it attractive.”

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Author: James W

IOV Labs Launches Light Client for the Lumino Network to Boost BTC’s Smart Contract Capability

IOV Labs, an early-stage firm focusing on scaling solutions for Bitcoin’s blockchain, has launched a new layer to further enhance its course. The Gibraltar based startup released a light client for the Lumino payments network on May 13.

This milestone was confirmed in a statement issued to Cointelegraph by IOV Labs,

“IOV Labs announced the launch of its Light Client for the Lumino Payments Network, a third-layer Bitcoin scaling solution.”

Notably, the Lumino payments network is set to rival the popular Lightning scaling solution for Bitcoin. This initiative, however, enjoys a competitive advantage as it is compatible with smart contracts designed to leverage Bitcoin’s ecosystem.

Lumino Network Fundamentals

Bitcoin’s rise has not been short of challenges given its limiting tech infrastructure when it comes to scaling. This has resulted in slower transactions than stakeholders anticipated with approximate 7 transactions per second (Tps). The Lumino network comes as one of the solutions to increase throughput within Bitcoin’s blockchain.

With the new light client for Lumino, Bitcoin’s network can be boosted to 100 Tps accompanied by a possibility of scaling to 20,000 in the near future.

In order to achieve this efficiency, IOV Labs has boosted the so-called ‘layer three solution‘. This basically means that the platform leverages Bitcoin’s network to secure smart contracts and ERC-20 based tokens. RIF Labs had earlier launched sidechain solutions dubbed ‘Rootstock’ (RSK) for smart contract integration. The recently released light client will further reduce the resources required by developers to create DApps based on BTC’s network.

Lumino’s new light client allows the developers to build blockchain-based solutions without operating complete nodes. Instead, they can develop innovations with online web access and mobile hardware. This will, in turn, allow more focus on bootstrapping Bitcoin’s network given node availability hence a higher Tps.

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Author: Edwin Munyui

Blockchain Managers In Food and Ag Industry Given Stay-at-Home Exemptions During COVID-19

U.S states have started focusing on blockchains as management platforms following the latest directive by the Cybersecurity and Infrastructure Security Agency (CISA) which falls under the Department of Homeland Security (DHS). Currently, eight of the 50 states have announced plans to integrate blockchain managers as they work through the current COVID-19 virus pandemic.

Food and Agriculture are “Blockchain Managers”

On March 19, CISA released a number of recommendations to deal with the virus crisis across various sectors of the economy. One of the notable recommendations is the use of blockchain managers in the food and agriculture industry, which is an “essential” field at this time. In a bid to protect the workers and continue production, CISA wrote,

“Employees and firms supporting food, feed, and beverage distribution, including warehouse workers, vendor managed inventory controllers and blockchain managers.”

Now eight states including Washington, Indiana, California, Louisiana, Massachusetts, Ohio, Delaware, and Michigan are extending the recommendation (or some form of it) to get employees to stay-at-home.

A new look at blockchain managers?

At the moment, CISA and the states are yet to offer an explanation on the “blockchain managers” and how they are to be implemented. According to a researcher at Auburn University’s RFID Lab Allen Gulley, blockchain managers are already operational giving an example of IBM Food Trust blockchain.

Over the past few years, IBM entered into partnerships with some of the largest retail chains including Walmart to track food items from the farm to the store. Gulley said,

“You need to have a blockchain manager behind the scenes making sure that everything’s going according to plan.”

The recommendation has received a warm welcome from the Consumer Technology Association (CTA), a group promoting tech in the trading industry. CTA’s state and local tech policy director Nathan Trail said,

“One thing that we forget with IOT, blockchain, algorithms and so forth is there’s still a very human element that’s necessary in tracking and monitoring the systems to ensure they’re maintained as they should be.”

While the world continues its battles against the virus, blockchain technology becomes more important across industries. However, the lack of scalability for these systems still poses a challenge for the overall adoption rate.

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Author: Lujan Odera

BIS Latest Report Discusses How Payment Are Evolving With Tokenization and CBDC’s

Bank of International Settlements (BIS) researchers focusing on the payments’ future, reveals their latest quarterly report released on Sunday.

The paper has 138 pages and looks at what’s on the horizon in the financial sector, especially since tokenization, central bank digital currencies (CBDCs) and cross-border payments are starting to be more and more in trend.

Conclusions on Tokenization

According to BIS, the tokenization of securities on distributed ledgers can streamline the settlement cycle and become too efficient for some investors to bear with it, seeing traders are used with slow settlement cycles, liquidity management concerns and intermediaries. The report also says DLT and smart contracts are still to be proven when it comes to settlement and clearing, reading further that:

“The ability of tokenized systems to interoperate with account-based systems will be key to their success.”

What About CBDCs?

Another one of the big stories circulating in the world of banking is that of CBDCs, so BIS didn’t hesitate to address it too. It clarifies that there’s no use to develop digital money if it wouldn’t bring any advantages and while the existing payment systems work, saying retailers wouldn’t want to use a system that’s not in demand, whereas most consumers find cash or credit cards much more convenient.

Trying to answer the question of how decentralized a CBDC system would be, the research says decentralization indeed eliminates the risk of the entire system’s failure, but it brings about new vulnerabilities. Here’s what the report reads exactly:

“The key vulnerability of a conventional architecture is the failure of the top node, for example via a targeted hacking attack. The key vulnerability of DLT is the consensus mechanism, which may be put under pressure, for example, by a denial-of-service type of attack.”

Meanwhile, some banks have publicly stated they don’t see DLT as the salvation that’s rumored to be, whereas others are pushing forward with trials on DLT-based CBDCs.

BIS Report on Payments

Agustin Carstens, the General Manager at BIS, said the impact of a completely different and brand-new backend payment infrastructure needs to be considered. Central banks have been put into working mode by Facebook’s Libra, so it’s not yet clear if stablecoins are going to bring the financial doom foreseen by some or not. BIS deemed the matter as unanswered and enduring, saying there’s a need for an international response. It brought its Innovation Hub into discussion, saying it may provide the looked-for global response.

The Innovation Hub will collaborate with monetary policy makers and bankers at developing frameworks on digital innovations. According to BIS, it has spokes in Hong Kong, Switzerland and Singapore, not to mention a good position for developing policies across different networks.

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Author: Oana Ularu

Cardano ‘Laser Focusing’ on Delivering Value, Brand Recognition & Promotion in 2020

  • Cardano is “laser focusing” on areas where it can “really deliver value”
  • Cardano Foundation team and community expanding
  • They have initiated a “major brand reappraisal project” to increase brand recognition & Cardano promotion

2019 marked Cardano’s second anniversary that saw the Cardano Foundation team expanding and its community increasing in size and becoming more geographically and linguistically diverse.

Entering into 2020 which is expected to be another busy one, the Cardano Foundation team will continue its “geographic expansion to strengthen our collective skillset as the Foundation and as a community,” said Hinrich Pfeifer, General Secretary of the Foundation.

As Deloitte’s 2019 Global Blockchain Survey revealed 53% executives believe Blockchain Technology has become a ‘critical priority’ while a whopping 83% sees its compelling use cases. 23% of the responding executives have already initiated a blockchain deployment which points to the fact that Demand for blockchain-enabled solutions is there and will continue to grow.

Cardano just needs to work on areas where it can “really deliver value for a wide range of stakeholders,” said Manmeet Singh, Chairperson of the Cardano Foundation says they have started “laser focusing” on them.

Supporting the revolutionary technology & the entire industry

Nathan Kaiser, Chairperson of the Cardano Foundation also shared that 2019 was about getting the non-profit behind the 12th largest cryptocurrency back on track and focused on the legal affairs, taxes, and partnerships including the one with Konfidio to develop “real-life use cases ranging from supply chain and logistics, IoT to Identity Management.” The Foundation also teamed up with COTInetwork to introduce an adaPay solution.

Cardano community is seeing “incredibly strong growth,” with over a million individuals now part of it.

Cardano Foundation emphasizes that its focus isn’t only on Cardano but to support the entire industry and the revolutionary technology. As such, they are “working with other foundations, policymakers, regulators and key stakeholders in the blockchain ecosystem,” shares Tamara Haasen, Council Member of the Foundation.

The idea is to have the necessary legislative support and increased education, awareness, and collaboration to drive the adoption and meeting the demand of the future.

Towards this, Cardano has initiated a “major brand reappraisal project.” This will further help them increase their brand recognition, increase it engagement and share of voice in the media to promote Cardano.

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Author: AnTy