BitDegree to Compete for 1M EUR in the Finals of EIC Horizon Prize for Blockchains for Social Good 18428

BitDegree Scholarships’ solution was selected to appear among the 23 finalists in Brussels and will compete for a 1M EUR prize in the category “Aid & Philanthropy.” BitDegree has developed the first-ever transparent P2P blockchain system for scholarships tied to educational outcomes. Now, anyone can get paid to learn at BitDegree.org.

The EIC Horizon Prize ‘Blockchains for Social Good’ focuses on scalable, efficient, and high-impact decentralized solutions to social innovation challenges using blockchain technology. The task requires multidisciplinary expertise. Winning solutions are expected to address sustainability challenges, generate social change, and demonstrate options for a smoother distribution of information and resources.

Bringing complete transparency to education donations

BitDegree Scholarships disrupts the general belief that donations and aid deviate from the end-recipients. The solution presents individual stories for donors to see and fund easily. People can request financial support to access high-quality online courses and compensate for their time away from work.

Blockchain technology underwriting the Scholarships allows complete financial transparency and educational achievement. If the person completes the course in time, a blockchain certificate is issued and the incentive scholarship is transferred in cryptocurrency, allowing to break the financial barriers and reach the unbanked. Otherwise, the donation is returned to the sponsor, as defined in the smart contract.

Social good potential of P2P scholarships

The Internet allows everyone to reach quality education. However, there can be two obstacles to learning. First, high-quality online courses can be for someone with a lower income. Second, people can’t afford the time to learn, as they need to work. BitDegree Scholarships solve the issue by paying for online courses and providing a local-income-adjusted grant to buy time for learning. People in need can re-skill and up-skill online to work in the global economy or find qualified employment locally.

BitDegree Scholarships spans over developing and developed countries equally. Europe lacks tech talent, and the automation of industry threatens the employment of many. Employer or government-sponsored scholarships tied to clear learning paths can enable and motivate the wide-scale reskilling in Europe.

BitDegree Scholarships open to any education provider

For demonstration, BitDegree has implemented the BitDegree Scholarships system on its platform as a Showcase. The vision is to attract many different online and offline education providers to use BitDegree Scholarships and enable their learners to receive support. Interested parties can already do so manually. The next version of Scholarships will offer automated integrations with third parties and a joint listing of all scholarship requests for donors.

The incentive to go beyond state-of-the-art

In education, blockchain is mainly used for credentials. EIC Horizon Prize has led BitDegree to think of applying blockchain for much greater social good. The company appreciates the ability to network with like-minded leaders sharing common global-scale goals. Winning the prize, BitDegree will use the funds to develop the project further.

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MetaBeat Partners with FZF Ventures to Lead Web3 Music Innovation 2816

FZF Ventures, a specialist firm in blockchain and cryptocurrency market investments, and MetaBeat, a Fan-to-Earn Kpop Music NFT Platform, officially announced their strategic partnership. This collaboration marks a significant step forward in both companies’ efforts to leverage blockchain technology and the burgeoning digital asset market.

FZF Ventures, known for its proactive investments in high-growth areas within the blockchain sector, recently unveiled the establishment of a dedicated cryptocurrency fund, as reported by Binance News. This move underscores FZF Ventures’ commitment to expanding its foothold in the dynamic world of blockchain and cryptocurrency, seeking promising ventures that contribute to industry innovation and growth.

MetaBeat stands out in the Web3 music industry with its innovative Fan-to-Earn model, which integrates NFTs (Non-Fungible Tokens) and social finance (socialfi) features. As Kpop continues to captivate global audiences, MetaBeat’s platform offers fans unique opportunities to engage directly with their favorite artists through digital collectibles and community-driven initiatives.

In a statement, FZF Ventures highlighted Kpop’s global influence and its potential to drive advancements within the Web3 music industry. The firm recognizes MetaBeat’s distinct ecosystem and its strategic alignment with these transformative trends. By including MetaBeat in its investment portfolio, FZF Ventures aims to catalyze significant growth for the platform, fostering new avenues for artist-fan interactions and expanding the adoption of blockchain technology in entertainment.

The partnership between FZF Ventures and MetaBeat is not just a financial investment but a strategic alignment aimed at harnessing the power of blockchain to reshape the music industry’s landscape. As both entities look ahead, synergies in technology, community engagement, and market expansion are set to define their collaborative journey in the evolving digital economy.

This collaboration underscores a broader trend where blockchain and NFT platforms like MetaBeat are poised to redefine how fans interact with content and creators, emphasizing decentralization, transparency, and new monetization models. With MetaBeat at the forefront of innovation in Kpop music and FZF Ventures’ strategic backing, the partnership signals a promising future at the intersection of music, technology, and finance.

Website: https://metabeat.io/
X: https://x.com/MetaBeatOffl

XION’s Chain Abstraction Drives Success for Prominent Brands Through EarnOS Platform 3139

XION’s groundbreaking chain abstraction Web3 technology enables EarnOS to transform digital advertising, driving unprecedented user engagement and brand awareness for global companies.

XION, the first blockchain purpose-built for mainstream adoption through chain abstraction, announced the massively successful beta launch of the EarnOS platform which included a prominent ridesharing application, clothing, and accessory brands which together command a market capitalization exceeding $165 Billion. The initial campaign showcased how XION’s chain abstraction technology enabled EarnOS to build a platform that revolutionizes user acquisition, engagement, and rewards in the digital advertising space.

The EarnOS launch on the XION blockchain saw remarkable results, with over 200,000 verified users participating and more than 1,300,000 unique brand interactions ranging from social media acquisitions, bespoke advertisement campaigns, immersive augmented reality experiences and more. Participating brands overall achieved a 9000% boost in brand awareness coupled with significant growth on social media platforms.

These impressive metrics have prompted the aforementioned ridesharing company to substantially increase its planned spending on the EarnOS platform, which is disrupting the $1 Trillion digital advertising market through novel economic incentivization models. By leveraging XION’s advanced chain abstraction technology, the platform enables brands to acquire, reward, and engage users globally through targeted advertising actions in ways previously not possible.

“We’re seeing the future of Web3 unfold, where blockchain technology becomes accessible to mainstream audiences, opening up massive customer bases for participating brands,” said Burnt Banksy, Founder of XION. “The success of the EarnOS launch demonstrates XION’s unique ability to enable true consumer-facing applications and drive mainstream adoption by fully abstracting away crypto complexities.”

Key to EarnOS’ user-friendly experience is XION’s chain abstraction infrastructure. Users can log in with their email and interact seamlessly across all devices, without the need for seed phrases, plugins, wallets, gas fees, popups, or complex transaction signing. Additionally, global USDC micropayment rails enable advertisers to reach wider audiences through innovative economic incentives. This breakthrough in user experience, coupled with the power of blockchain technology, can position EarnOS and XION at the forefront of the next generation of mainstream-ready Web3-powered applications.

About XION

XION is the first layer one blockchain purpose-built for consumer adoption through crypto abstraction. Utilizing protocol-level implementations related to abstracted accounts, signatures, fees, interoperability, and more, XION enables secure, intuitive, and seamless user experiences. The project has previously raised over $36M from top-tier investors, including Animoca, Circle Ventures, Multicoin, Draper Dragon, Spartan, and more.

To learn more about XION, users can follow @burnt_xion on Twitter, or visit xion.burnt.com.

SparkDEX’s Cutting-Edge AMM & Perps Protocol to Launch on Flare 3702

Flare, the layer 1 blockchain for data, is delighted to announce that the SparkDEX team has chosen to deploy its advanced decentralized finance hub on the network, featuring an AMM and perps protocol. In doing so, SparkDEX will leverage Flare’s enshrined data protocols for decentralized data access.

The SparkDEX DeFi Hub is a “friendly fork” of the successful QuickSwap decentralized exchange on Polygon, and is supported by the QuickSwap team. It incorporates a high-performance DEX with a cutting-edge on-chain perpetuals platform that allows trades with up to 100x leverage. More advanced AI components and DeFi strategies will be added in future as the SparkDEX team continues to execute on its roadmap and vision.

5% of the SparkDEX total token supply has been allocated as an airdrop to reward early participants on the platform. 40% of this will be available for existing QuickSwap users. Flare and SparkDEX will also be added to the QuickSwap website network selector menu.

Anita Ng, BD Representative at SparkDEX, comments: “As a high-performance DeFi ecosystem looking to harness the most advanced infrastructure available in the industry, the SparkDEX team strategically selected Flare to leverage their enshrined data protocols. Flare’s comprehensive approach to data management sets its ecosystem apart as the go-to blockchain for data, which will support further innovation and data-driven decision-making on SparkDEX. This marriage of bleeding-edge DeFi with data interoperability from Flare will make a powerful combination.”

The flagship offering on SparkDEX DeFi Hub will be the V2 Perpetuals Exchange, launching later in July and taking advantage of the upgraded Flare Time Series Oracle (FTSO) for real time price feeds to protect against front running and false liquidations. It supports up to 100x leverage, with a range of possible order types, including a unique trailing stop loss feature to help traders protect their positions.

SparkDEX’s Chain Abstraction mechanism aggregates the major perpetual DEXES across 12 chains, including Arbitrum, Optimism & Polygon, and efficiently settles orders by selecting the most favorable route and rate for each trade. Powered by LayerZero, the general message passing network that recently integrated Flare, this abstraction mechanism will ensure users receive the best possible execution from their chain of choice. The DEX will initially offer perpetual futures positions on digital assets, adding commodities and forex once the relevant data feeds are live on Flare’s enshrined oracle, the FTSO.

SparkDEX V3 DEX, now live at https://SparkDEX.ai/, provides access to crypto trading pairs with ultra-competitive liquidity incentives, a generous revenue-sharing model where DEX fees are shared with token stakers, and comprehensive liquidity management. Supported by the Flare network’s new DeFi emissions program, industry-leading rewards are already available on the wFLR-sFLR and wFLR-USDX pools with more to be added in the coming weeks.

“After the recent community approval of the new Flare DeFi emissions program and the integration of LayerZero V2, the launch of SparkDEX is another huge milestone in the rapid advancement of Flare’s DeFi ecosystem. We look forward to seeing significant liquidity inflows into their pools and how that will accelerate the growth of DeFi on Flare. The launch of their perps DEX is going to be particularly exciting” said Flare Co-Founder Hugo Philion.

About Flare

Flare is the blockchain for data: an EVM smart contract platform specifically designed to support data intensive use cases, including Machine Learning/AI, RWA tokenization, gaming and social. With decentralized, enshrined oracles secured at the network layer, Flare is the only smart contract platform optimized for decentralized data acquisition – price & time series data, blockchain event & state data, and web2 API data. By giving developers trustless access to the broadest range of data and data proofs at scale and for minimal cost, Flare expands the utility of blockchain and supports the development of new and improved use cases.

About SparkDEX

SparkDEX is pushing the boundaries of DeFi innovation by combining the apex of available DeFi products, the latest DEX tech, next-gen perps including digital assets, commodities & forex with up to 100x leverage, and the exciting world of emerging AI tech. SparkDEX delivers a unique experience that promises to reshape the way users think of DeFi on Flare.

BNB Smart Chain Losses Dropped 83% in Q2 2024: Security Report 4098

Salus, the Web3 security firm tackling the most complex security challenges through fundamental scientific research, has today released its BNB Chain 2024 Security Report. The report provides an in-depth analysis of the security events that unfolded on BNB Smart Chain (BSC) during the second quarter of 2024 and reveals a significant security milestone of an 83.3% reduction in financial losses on BSC between Q2 2024 and Q2 2023. In addition, its findings show that in Q2, 2024 BNB Chain experienced a ~19% decrease in total losses and a ~18.6% decrease in the number of security incidents compared to Q1, 2024.

Alongside the in-depth analysis of the security incidents that took place on BSC in Q2 2024, the report also delves into the types of projects targeted. It highlights common attack techniques used during this period and presents data regarding the financial losses incurred, including:

  • Significant improvement in Q2, 2024: Loss amount on BSC dropped by 19% to ~$11.7m in Q2 2024 compared to Q1, 2024 and a ~83.3% decrease in total loss amount on BSC in Q2, 2024 compared to Q2, 2023. This demonstrates the success of security measures and the continuous commitment to enhancing the security of the BNB Chain ecosystem.
  • A look at the blockchain industry: In Q2, BSC represented 5.97% of the total $95,552,224 stolen across all chains.
  • Types of attacks and threats: The most frequent attack vectors were contract vulnerabilities and exit scams. In Q2, there was a noticeable decrease in both the total amount and the number of incidents compared to Q1. The total amount in Q2 was $11,731,093, down from $14,446,914 reported in Q1. The number of incidents in Q2 was 35, down from 43 in Q1.

BNB Chain continues to be a strong industry player, demonstrating its robust performance and boasting growing daily active users and transaction count. The report highlights a quarter with a notable reduction in both the total amount lost and the number of security incidents. The total financial impact shows a clear improvement, underscoring the effectiveness of the security measures that have been put in place.

These results are a testament to the resilience and proactive efforts of the BNB Chain team and community. The landscape of blockchain security is ever-evolving, and going forward, BNB Chain’s AvengerDAO will keep improving its ability to:

  • Identify scam projects early
  • Focus on projects with large liquidity
  • Monitor malicious activities and mitigate hacks as early as possible
  • Expand its reach and actively inform users of risks

About BNB Chain

BNB Chain is a community-driven blockchain ecosystem that is removing barriers to Web3 adoption. It is composed of:

  • BNB Smart Chain (BSC): A secure DeFi hub with the lowest gas fees of any EVM-compatible L1; serves as the ecosystem’s governance chain.
  • opBNB: A scalability L2 that delivers some of the lowest gas fees of any L2 and rapid processing speeds.
  • BNB Greenfield: Meets decentralized storage needs for the ecosystem and lets users establish their own data marketplaces.

Setting a high bar for security, the AvengerDAO community protects BNB Chain users while Red Alarm provides a real-time risk-scanner for Dapps. The ecosystem also offers a range of monetary and ecosystem rewards as part of its Builder Support Program.

The Canton Network’s Global Synchronizer and Canton Coin Go Live 8299

Leading market participants powering the Canton Network proudly announce the go-live of the Global Synchronizer, the Canton Network’s decentralized interoperability infrastructure. This launch marks a pivotal step towards unlocking the full potential of synchronized financial markets, providing first-of-its-kind connectivity for the tokenization and frictionless exchange of regulated financial assets and liabilities. The Global Synchronizer is going live after ten years of technological development, nearly a year of extensive testing— including powering the recent Canton Pilot program—and following each of the anchoring Network participants, known as super validators, voting in favor of the launch.

There is a growing industry need to deliver near-term efficiencies for the highest concentrations of tokenized assets, while also facilitating new opportunities as more applications and liquidity are brought on-chain. Canton Network delivers on both value propositions: it features the highest number of live use cases of real-world assets and is the only network that can handle the on-chain privacy, control, and interoperability of participants and their corresponding asset flows.

Organizations are engaging in the Network in a range of ways—including running a super validator, running a node, joining the Global Synchronizer Foundation, or running an application on the Network. Current participants in these various points of engagement include: 7RIDGE, Bitwave, Brale, Broadridge, Calastone, Copper.co, Cumberland DRW, Dfns, Digital Asset, EquiLend, Global Blockchain Business Council, Gravity Team, Hashnote, Hidden Road, Hydra X, InfStones, IntellectEU, Kaleido, LendOS, Liberty City Ventures, MPCH, Obsidian Systems, Ownera, QCP, SBI Digital Asset Holdings, Taurus, The Tie, Tradeweb, Validation Cloud, XBTO, XVentures, and Zodia Custody.

Revolutionizing Financial Connectivity

For the first time, market participants can harness the power of synchronized financial markets through the Global Synchronizer. The Global Synchronizer enhances interoperability on the Canton Network, an innovative public-permissioned blockchain network designed with the privacy and controls essential to facilitating the exchange of regulated financial assets. The Global Synchronizer is operated and governed in a decentralized manner, with internet-like scalability, ensuring that no single party controls the service and there is no single point of failure; thereby harnessing the benefits of decentralized finance. This transformative infrastructure is set to revolutionize the way financial transactions are conducted, offering enhanced efficiency, reduced operational costs, and minimized risks.

“Canton Network participants have taken a long-term strategic view on what was needed to enable the modernization of synchronized global capital markets,” said Yuval Rooz, CEO and Co-Founder of Digital Asset. “Industry-leading firms have convened over the past year for the initial launch and subsequent testing of the Canton Network. We are excited to see the governance and incentive mechanisms in place to facilitate the adoption and use of the Network as it goes live.”

Open Governance with Linux Foundation and the Global Synchronizer Foundation

In conjunction with the Global Synchronizer’s operational go-live, the Linux Foundation is supporting the Global Synchronizer Foundation as an official project. The Global Synchronizer Foundation is an independent U.S.-based entity composed of forward-thinking market participants dedicated to ensuring that the Global Synchronizer is governed transparently in a decentralized manner with organizational neutrality to maintain its integrity. The Linux Foundation will support the Global Synchronizer Foundation under an open governance model that fosters trust and neutrality.

Introducing Canton Coin: Accelerating Connected Capital Markets

The Global Synchronizer includes a utility token, called Canton Coin, which is used to pay traffic fees for using the Global Synchronizer. Canton Coin can be minted by app builders and infrastructure providers who bring utility to the Global Synchronizer ecosystem, marking the first time a public network has rewarded both infrastructure providers and app developers. It is designed to incentivize third parties to build applications utilizing the Global Synchronizer, rewarding connections that accelerate connected capital markets. Network participants can use Canton Coin for Canton-native operations between participants and across applications globally on a 24×7 basis.

Hyperledger Splice: The Springboard for Additional Decentralized Infrastructure on the Canton Network

The Global Synchronizer is the first decentralized infrastructure for the Canton Network. To encourage additional infrastructure development, Digital Asset has open-sourced the core technology for decentralized Canton synchronization domains, including a native utility token– the same technology that powers the Global Synchronizer and Canton Coin. The technology is maintained by Hyperledger Labs under the name Splice to ensure that anyone seeking to set up their own decentralized synchronization domain for the Canton Network can do so freely.

About the Canton Network

The Canton Network is the financial industry’s first and only public chain that can achieve on-chain privacy, control, and interoperability, making it the most suitable network for institutional assets. The Network launched for testing with the participation of a group of leading financial institutions, infrastructure providers, technology firms, and consultants in August 2023. Initially built upon Digital Asset’s technology, the Network’s controls, governance, and app development have been open-sourced and decentralized to be managed by all participants, with the goal of fostering greater innovation and Network utility. The Canton Network’s design overcomes the shortfalls of existing blockchain networks by enabling previously siloed systems in finance to become interoperable and synchronized in ways that had been impossible before. Offering the privacy and controls required for highly regulated organizations, the Canton Network creates a safe environment in which assets, data, and cash can move freely across applications in real-time, unlocking new efficiencies and powering innovation.

Bethel Platform – Hack Proof Blockchain-Based Secure Decentralised File Storage With (ZKP) Zero-Knowledge Proofs 9707

What is Bethel Platform and what does it solve?

Bethel Platform introduces a state-of-the-art decentralized storage solution, leveraging Zero-Knowledge Proofs (ZKp) to enhance data privacy and security in the Web 3.0 ecosystem. This advanced storage option prioritizes user privacy, ensuring data integrity and security without compromising on accessibility and efficiency.

Bethel zkpStorage leverages a Decentralized Physical Infrastructure Network (DePIN) to provide a secure and scalable on-chain asset storage system, accessible via a mobile wallet. This integration ensures enhanced security, privacy, and efficiency, offering a user-friendly solution for managing decentralized storage assets on the go. The system’s realworld applications (RWA) span various sectors, ensuring robust, reliable, and transparent data management for users.

Seamlessly transitioning from Web 2.0 to Web 3.0, the Bethel Platform offers a smart container system integrated with Zero-Knowledge Proofs. This system facilitates secure and efficient hosting of decentralized databases, promoting scalable and resilient data management solutions.

Bethel Platform provides a robust platform for hosting decentralized applications (DApps) and AI-driven solutions, fortified with ZeroKnowledge Proofs. This platform ensures the secure processing and management of sensitive data, essential for AI algorithms and DApp functionalities.

Token Overview

  • Token name: Bethel Platform
  • Token symbol: BECX/USDT 
  • Total supply: 1,000,000,000

Key components of Bethel Platform

  • DID: Provides users with a unique decentralized identifier (DID), enhancing security and privacy.
  • Storage UI: Provides a modern user interface for managing and accessing storage services seamlessly.
  • File scanning: Ensures data integrity by scanning files for security and compliance.
  • ZK service:Implements zero-knowledge proofs for data privacy and security without compromising efficiency.
  • File chunk service: Optimizes data storae and transfer by segmenting files into manageable chunks.
  • Onchain metadata: Provides an immutable record of file metadata on the blockchain, enhancing transparency and security.
  • Storage module:Acts as the primary storage module, employing decentralized storage techniques.
  • IPFS supported storage module: Integrates with IPFS to offer interoperable and efficient storage solutions.

What are the strengths of Bethel Platform?

  • Utilizes Zero-Knowledge Proofs (ZKp) in the decentralized Web 3.0 ZKp Storage, ensuring data privacy and security.
  • Preserving user confidentiality while maintaining data integrity and accessibility.
  • Offers Decentralized ZKp Smart Container System for seamless database hosting transition from Web 2.0 to Web 3.0.
  • Incorporating ZKp, providing secure and efficient management of decentralized databases.
  • Facilitates a secure platform for decentralized applications (DApps) and AI hosting with ZKp integration ensuring the protection of sensitive data essential for AI algorithms and DApps functionalities.
  • Modules enhance data protection and interoperability, leveraging the strengths of both modules.
  • Incorporates Quantum Computer Security Proofs to safeguard against future quantum computing threats employing quantum-resistant cryptographic measures to ensure long-term data security.
  • Offers a user-friendly interface with simplified access through the Bethel Wallet while implementing unique Decentralized Identifiers (DID) for enhanced user authentication and security.
  • Advanced off-chain and on-chain ZK services ensure efficient data processing and integrity using a sophisticated File Chunk Service and On-chain Metadata to optimize data management and bolster security.
  • DePIN-Enabled On-Chain Metadata Management is crucial for transparency, security, and immutability. Files are divided into chunks and hashed for unique identification. Metadata includes file details and permissions, stored on-chain for an immutable record. Smart contracts manage access, ensuring only authorized retrievals. This approach ensures tamperproof metadata, verifiable file integrity, and maintained data privacy through Zero-Knowledge Proofs (ZKP).

Conclusion

Bethel Web3 Platform is positioned to be a pioneering force in the world of secure and efficient data management within our increasingly decentralized digital landscape. By harnessing the power of decentralization, it provides a scalable and adaptable solution to meet the evolving demands of data security, accessibility, and integrity. As technology continues to advance, the Bethel Web3 Platform remains at the forefront, driving innovation and shaping the future of data management. With its commitment to user privacy, advanced security measures, and seamless integration of cutting-edge technologies, the Bethel Web3 Platform is poised to play a transformative role in the digital era.

About Coinstore

Accessibility. Security. Equity.

As a leading global platform for cryptocurrency and blockchain technology, Coinstore seeks to build an ecosystem that grants everyone access to digital assets and blockchain technology. With over 7 million users worldwide, Coinstore aims to become the preferred cryptocurrency trading platform and digital service provider worldwide.