Lethbridge College teams up with Liquid Avatar Technologies to create a virtual campus in the metaverse

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Ray Speers
March 04,2022

Lethbridge College teams up with Liquid Avatar Technologies to 
create a virtual campus in the metaverse


A virtual Lethbridge College will be the first of its kind, allowing students to occupy property in 
the metaverse

March 3, 2022  Today, Lethbridge Colleges Centre for Technology, Environment and Design
(CTED) announced that it is partnering with Liquid Avatar Technologies Inc., a publicly traded 
global blockchain and fintech solutions company, to launch a first of its kind work-integrated 
learning opportunity for students. Liquid Avatar Technologies is providing 9,000 plots of land 
within its Aftermath Islands Metaverse a network of spaces where users can create a virtual 
world parallel to their physical one. Students will begin engaging in the new program and 
mentorship opportunities by the end of the winter 2022 semester.


Collectively named Lethbridge College Island, on Aftermath Islands, Lethbridge students will 
learn how to work, play, learn, game, entertain and earn in the metaverse. In addition to the 
virtual land, up to 100,000 in-game currency credits are being made available to the college. 
Those credits can be used to build, buy and trade assets like additional property, objects, 
landscape items and even avatars.


Students in Interior Design Technology, Virtual and Augmented Reality and Architectural 
Animation Technology programs will build on the virtual island creating structures and 
businesses and completing transactions. Each student will receive a plot of virtual land. The plot 
and all the assets they create for it will remain their property for as long as they choose. The 
college will also have a significant parcel of virtual land to provide students with virtual events, 
learning and other services.


Im so excited for this partnership with Liquid Avatar Technologies, says Cherie Bowker, chair 
of Lethbridge Colleges School of Spatial Design Technologies. Our students will learn so much 
about entrepreneurship and building in the metaverse and will gain a much greater 
understanding of digital space and digital identity while these worlds evolve and grow. We are 
proud of how we lead in this space, and we are thrilled to work with the skillful, talented and 
creative Liquid Avatar team.


David Lucatch, President, CEO and Chair of Liquid Avatar Technologies, has spent the past 25 
years developing technologies and taking them to market. Part of his recent resume includes 
co-founding Aftermath Islands Metaverse a planned virtual environment that provides online 
users with theme-based first-person Augmented Reality (AR) and Virtual Reality (VR) 
experiences, quests, games and integrated e-commerce activities. David, and the team at 
Liquid Avatar Technologies will also be mentoring Lethbridge College students to further 
process their education in the metaverse.


Providing the next generation of creative and technical thinkers with the tools to engage in 
new technologies that are primed to change consumer behaviour is an exciting opportunity for 
Liquid Avatar Technologies and Aftermath Islands, said David Lucatch, President, CEO & Chair, 
Liquid Avatar Technologies and Managing Director of Aftermath Islands Metaverse Limited. We 
envision this collaboration with Lethbridge College as a sandbox for learning and acquiring 
significant tangible experience, providing Canadian students with an advantage when entering 
the evolving job market.


CTED students will have hands-on opportunities to build out Lethbridge College Island by 
working closely with experts in the field, as well as faculty, who will mentor them in the 
development of the property. 


Our students are sure to gain a better sense of working outside their comfort zones as they 
tackle real-world problems and develop core competencies such as collaboration and leadership, 
while at the same time increasing their employability, says Candace Lewko, Associate Dean of 
the Centre for Technology, Environment and Design. We are confident our students will be 
making an impact and will be equipped with all the skills necessary to join the workforce.

About Lethbridge College 

Established in 1957 as Canadas first publicly funded community college, Lethbridge College is a 
board-governed institution serving the training and applied research needs of southern Alberta. 
As we approach our 65th anniversary, we look to the horizon and recognize the need to address 
our growing populations of learners, and to facilitate innovation and new opportunities. We will 
continue to build on our successes and stay in tune with the changing world of technology and 
sustainability. 


About Aftermath Islands Metaverse Limited - www.aftermathislands.com

Aftermath Islands Metaverse Limited is a Barbados corporation which is 50% owned and is 
controlled by Oasis Digital Studios Limited, a wholly owned subsidiary of Liquid Avatar 
Technologies Inc.


Aftermath Islands as first described in the initial whitepaper published in 2017 and then 
subsequently updated, was based on the premise of a water-world with islands that 
represented destinations in a global virtual game. Since then, the Aftermath Islands metaverse 
has evolved and now represents exciting themed based islands, communities, and estates 
where players can experience a wide range of adventures and opportunities.


In Aftermath Islands virtual world, users can buy, develop, trade, and sell Virtual Land (VL), 
property and assets, like buildings, crafted items, transport, and other items all through NFTs, a 
non-fungible token that represents the ownership of virtual and other assets. Each plot or 
parcel of VL is unique and owners get to choose what content they want to publish on their VL. 
This can range from simple scenery and structures to an interactive game, store, warehouse, 
dwelling, facility, or destination. Users can purchase VL as well as all other goods and services 
in Aftermath Islands with CREDITS, the current code name for in-game currency, fiat and other 
authorized currencies, coins, and tokens.


Aftermath Islands is a shared virtual world, much like the Metaverse described by author Ernest 
Cline in his science-fiction novels Ready Player One and Ready Player Two. Expected to launch 
mid-2022, Aftermath Islands will allow users to connect and interact with each other, create 
content, craft, participate in activities and quests and play games. Aftermath Islands will have a 
virtual economy where users can engage in a myriad of in-world economic transactions as well 
as monetize the content, items, quests, and applications they build.


For more information about Aftermath Islands, please visit www.aftermathislands.com

About Liquid Avatar Technologies Inc. - www.liquidavatartechnologies.com

Liquid Avatar Technologies Inc. focuses on the verification, management and monetization of 
Self Sovereign Identity, empowering users to control and benefit from the use of their online 
identity.

The Liquid Avatar Mobile App, available in the Apple App Store and Google Play is a verified Self 
Sovereign Identity platform that empowers users to create high quality digital icons 
representing their online personas. These icons allow users to manage and control their digital 
identity and Verifiable Access and Identity Credentials, and to use Liquid Avatars to share public 
and permission based private data when they want and with whom they want.

The Liquid Avatar Verifiable Credentials Ecosystem (LAVCE) has been developed to support all 
participants in a digital credential ecosystem, including the Holder, Issuer and Verifier, using 
state-of-the-art blockchain and open standards technologies initially as a node on the Indicio 
Network. The Company is a voting and steering committee member of the Trust over IP 
Foundation, founding and steering committee member of Cardea, a Linux Foundation Public 
Health project, member of the Good Health Pass collaborative, DIACC, the Covid Credentials 
Initiative ("CCI"), The Linux Foundation and a founding member of the Lumedic Exchange.
The Company has a suite of early-stage revenue generating programs that support the Liquid 
Avatar Mobile App program, including KABN KASH, a cash back and reward program that has 
over 500 leading online merchants and is working to release its own branded network payment 
card.


The Companys subsidiary, Oasis Digital Studios, is a creative and development agency that 
supports a wide range of artists, talent, and enterprises with Non-Fungible Token (NFT) 
solutions and has acquired 50% and control of the Aftermath Islands Metaverse program.
Liquid Avatar Technologies Inc. is publicly listed on the Canadian Securities Exchange (CSE) 
under the symbol "LQID" (CSE:LQID).

The Company also trades in the United States, on the OTCQB under the symbol "LQAVF" and in 
Frankfurt under the symbol "4T51".

If you have not already joined our mailing list and would like to receive updates on Liquid 
Avatar Technologies Inc., please click here to join!

For more information, please visit www.liquidavatartechnologies.com

For further information, please contact: 
David Lucatch
Chief Executive Officer
647-725-7742 Ext. 701
ir@liquidavatar.com

Media Contact:
Amber Mulder
No Fixed Address
amber.mulder@nofixedaddressinc.com

Tina Karst
Media Relations Specialist, Lethbridge College
tina.karst@lethbridgecollege.ca


The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

All websites referred to are expressly not incorporated by reference into this press release.

Forward-Looking Information and Statements

This press release contains certain forward-looking information within the meaning of applicable 
Canadian securities legislation and may also contain statements that may constitute forward-looking 
statements within the meaning of the safe harbor provisions of the United States Private Securities 
Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not 
representative of historical facts or information or current condition, but instead represent only the 
Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are 
inherently uncertain and outside of the Companys control. Generally, such forward-looking information or 
forward-looking statements can be identified by the use of forward-looking terminology such as plans, 
expects or does not expect, is expected, budget, scheduled, estimates, forecasts, intends, 
anticipates or does not anticipate, or believes, or variations of such words and phrases or may contain 
statements that certain actions, events or results may, could, would, might or will be taken, will 
continue, will occur or will be achieved. 

The forward-looking information and forward-looking statements contained herein include, but is not 
limited to, statements regarding the future launch of in-game activities, sales of digital and physical 
collectibles, Non-Fungible Tokens and other related products through Oasis Digital Studios and / or its 
clients, partners and other service providers, statements regarding the future capabilities of LAVCE or the 
operation of an Indicio Network Node, expected geographic expansion, the ability of the Company to 
generate revenues, roll out new programs and to successfully achieve business objectives, and expectations 
for other economic, business, and/or competitive factors.


By identifying such information and statements in this manner, the Company is alerting the reader that 
such information and statements are subject to known and unknown risks, uncertainties and other factors 
that may cause the actual results, level of activity, performance, or achievements of the Company to be 
materially different from those expressed or implied by such information and statements. 

Although the Company believes that the assumptions and factors used in preparing, and the expectations 
contained in, the forward-looking information and statements are reasonable, undue reliance should not 
be placed on such information and statements, and no assurance or guarantee can be given that such 
forward-looking information and statements will prove to be accurate, as actual results and future events 
could differ materially from those anticipated in such information and statements. The forward-looking 
information and forward-looking statements contained in this press release are made as of the date of this 
press release, and the Company does not undertake to update any forward-looking information and/or 
forward-looking statements that are contained or referenced herein, except in accordance with applicable 
securities laws







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September 07,2024

Here Is How To Protect Yourself Against Crypto Hackers

Hackers are increasingly targeting cryptocurrencies with more aggressive tactics. Since January, they have stolen over $1.2 billion in crypto, with many incidents linked to the DPRK. On September 3rd, the FBI issued a public service announcement warning the crypto industry about what kinds of malicious software is being used nowadays.

Warning For Android Users

McAfee, a software security firm, has detected an Android malware named SpyAgent. This malware utilizes Optical Character Recognition (OCR) to scan phone storage for images, including screenshots containing private keys. Remember, decentralized wallet providers advise against taking screenshots of your keys, instead, write them down on paper for security.

McAfee Labs notes that this malware is spread through malicious links sent via text messages. These links often lead to fake banking apps that request full access to your phone, including photos and media. If users receive a message claiming their banking app is outdated and prompting them to click a link to update, exercise caution. Clicking the link might open a website resembling an official bank website, but downloading and installing the application could expose your data to hackers.

The FBI has also warned the crypto community about highly specialized social engineering attacks. Such malware can be disguised not only as banking apps but also as government applications or games.

Malware Threats On MacOS

MacOS users might think they are immune to such threats, but that is not the case. In August, a malware called Cthulhu Stealer was discovered targeting MacOS. Like other malware, it masquerades as legitimate software. Once installed, it can steal private information, including all types of passwords and wallet credentials like MetaMask, as well as IP addresses.

In August, North Korean hackers exploited a vulnerability in Google Chrome. They created fake websites that mimicked legitimate crypto trading platforms to trick users into downloading a malicious crypto wallet or trading app.

As hackers become more focused on cryptocurrencies, these malware tactics are escalating. To protect yourself, always download applications directly via their official sources and verify website URLs. Crypto users should also avoid saving seed phrases as images or storing them on digital devices.

 

September 06,2024

Telegram Users Can Now Report Illegal Content In Private Chats

Telegram has updated its policy to allow users to report illegal and illicit content in private chats for moderation review, as indicated in a recent update to its frequently asked questions (FAQ) section. Toncoin ($TON) will still act as the native cryptocurrency of the TON blockchain, which was originally developed by Telegram. It is used within the ecosystem for transactions, smart contracts, and various decentralized applications (dApps).

 

Changing With The Times

The new policy introduces the ability for users to flag content in private chats, a shift compared to the previous stance of not moderating such conversations. This change might impact Telegram and its overall image, which has previously been linked to facilitating illegal activities such as money laundering and illicit crypto-related transactions.

The FAQ previously stated that all Telegram chats and group chats are private between their participants, and that the company does and will not process any requests related to them. The anonymity associated with Telegram made it one of the most popular messaging platforms worldwide.

 

A Necessary Change

The update followed Pavel Durov being arrested in France in late August. The arrest was part of a larger investigation into the messaging platform, with French authorities alleging that Telegram has been used for illegal activities.

Durov was released after four days in custody. He is under judicial supervision and faces preliminary charges that could have significant legal repercussions if he is convicted. In his first public statement on Thursday, the Telegram CEO acknowledged that the rapid expansion of the platform had made it vulnerable to misuse by criminals. He denied claims that Telegram is an anarchic paradise for illegal activities and emphasized that the platform actively works to remove harmful content.

 

September 06,2024

EigenLayer Will Redistribute 86 Million Tokens In Season 2 Airdrop

EigenLayer has announced the second season of its airdrop, distributing 86 million EIGEN tokens to stakers, node operators, ecosystem partners, and community members. This airdrop targets those active between March 15th and August 15th, with distribution set to begin on or before September 17th, 2024.

 

Token Distribution

The 86 million tokens represent 5% of the total supply of 1.67 billion. Of this, 70 million tokens are allocated to stakers and operators based on their share of staked ETH, while up to 10 million tokens are reserved for AVSs and other contributors. About 6 million tokens will go to community members, who must verify their social identity by September 11th. 2024, to claim their share.

At any rate, this second season stakedrop arrives as EigenLayer has faced net outflows recently, leading to a reduction in its total value locked (TVL). The TVL has dropped to $11.5 billion after reaching an all-time high of $20.1 billion in June.

 

Competition Heats Up

In contrast, Symbiotic, a competitor that has not yet launched a token, has seen its TVL grow to over $1.5 billion. Additionally, the EigenLayer tokens are not tradable yet but are valued at approximately $2.7 each in pre-markets, suggesting a fully diluted valuation of $4.5 billion.

Similar trends are evident across the liquid restaking sector, with platforms like Renzo, Puffer, Kelp, and Swell also reporting significant TVL declines. This downturn might be attributed to the conclusion of airdrop campaigns related to the launch of major restaking protocol tokens, such as REZ and EIGEN.

 

September 05,2024

Richard Teng Demands Tigran Gambaryan Be Released Immediately

Binance CEO Richard Teng is demanding the immediate release of executive Tigran Gambaryan due to inhumane treatment and worsening health in Nigerian detention. Gambaryan, whose condition has deteriorated since contracting malaria in May, is reportedly being denied proper medical care.

Richard was hired by Binance in 2021 to improve its worldwide compliance operations. He was anointed the new CEO after succeeding Changpeng Zhao (CZ).

 

Hard To Watch

A recent video shows Gambaryan in a weakened state, struggling with crutches and being ignored by guards, which Teng condemned as inhumane. The video reveals Gambaryan being in visible pain and frustration, as he claims he is being denied help despite his serious condition.

The Binance community has rallied in support, condemning the treatment and questioning the motives behind why Gambaryan is being detained, with some suggesting it might be a strategic tactic against Binance.

 

Bad To Worse

To make matters worse, Gambaryan has seen his health worsen significantly since his collapse in court on May 23rd. Despite a judge ordering for him to be hospitalized, reports indicate he has not received adequate care. US representatives visiting in June found him in critical condition with double pneumonia and significant weight loss, prompting calls for his immediate release.

As the Gambaryan trial resumed on September 2nd, 2024, his legal team requested bail on medical grounds, citing his need for surgery. The EFCC has opposed this request, claiming his condition is manageable. A bail hearing is scheduled for September 4th. His health and treatment remain a major concern for his family, the Binance community, and international advocates.

 

September 05,2024

Robinhood Being Forced To Pay Massive Fine For Previous Ban

The fine announced on Wednesday was determined based on various restrictions imposed by Robinhood between 2018 and 2022, during which the platform did not allow users to withdraw their purchased cryptocurrencies. The company is now expected to demonstrate genuine transparency and ensure that customers have control over their cryptocurrencies.

 

An Ongoing Investigation

The investigation by California regulators classified the traded cryptocurrencies on Robinhood as commodities. It discovered that Robinhood Crypto allowed customers to purchase digital assets but did not provide them with custody, violating state regulations.

Attorney General Rob Bonta stated that the ongoing investigation and resolution with Robinhood should convey a clear message, which is that whether anyone operates a physical store or a cryptocurrency business, compliance with local consumer and investor protection laws is absolutely mandatory.

 

Revising Crypto Practices

Despite Robinhood Crypto lifting the withdrawal ban last year, the company is now held accountable for past actions. As part of the settlement, Robinhood must ensure that customers can withdraw their cryptocurrencies and update its information regarding asset custody.

Robinhood has also disclosed receiving subpoenas by the California Attorney General related to its business practices, trading operations, and asset custody. The settlement includes an independent review by the SEC to examine possible breaches of federal securities laws, without Robinhood admitting to any wrongdoing.

 

September 04,2024

Hackers Promote Fraudulent Trump Family Project

World Liberty Financial has had connections with the Trump family and has reportedly received their endorsement, although recent developments suggest a shift in this relationship. Recent incidents involved hackers posting blockchain addresses and asserting that the token was part of a crypto project associated with the Trump family.

 

Hackers Prevail

Specifically, Lara Trump claims her account was compromised after it disseminated a message claiming that the governance token of the project on the Solana blockchain would support their DeFi lending protocol. These posts were later identified as fraudulent and removed.

Eric Trump subsequently confirmed on X that both profiles had been hacked and advised followers to avoid interacting with the scam addresses. In response, World Liberty Financial released a statement urging people to disregard any links or transactions regarding the compromised accounts.

 

Another Fraud

This episode marks at least the third instance where a cryptocurrency token, seemingly connected to the Trump family and their crypto project, has surfaced. Previous examples include the contentious DJT token and the Restore the Republic token, which experienced a brief surge in value before collapsing.

For several weeks, the Trump family has been promoting World Liberty Financial, with speculation suggesting that the project will be hosted on the Ethereum (ETH) blockchain alongside Aave and their decentralized finance platform. The anticipated Trump family crypto project is expected to feature a credit account system with a token named WLFI.

 

September 04,2024

John Deaton Challenges Elizabeth Warren After Clinching Republican US Senate Primary

 

Pro-crypto attorney John Deaton has clinched the Republican nomination for the United States Senate in Massachusetts, setting up a match against Democratic Senator Elizabeth Warren in November. A former Marine and vocal supporter of Ripple (XRP), Deaton triumphed over two other Republican contenders, industrial engineer Bob Antonellis and Quincy city council president Ian Cain, to secure the nomination.

 

Challenging Elizabeth Warren

As of a September 4th report by the Associated Press, Deaton has garnered 64% of the vote, with just over 43% of votes counted in Massachusetts. Deaton is poised to challenge Warren in the November election. Warren, who has previously won Senate seats twice, faced strong competition in 2012 but defeated Republican incumbent Scott Brown and earned over 60% of the vote in 2018. Seeking a third term, Warren is running unopposed for the Democratic nomination.

A pro-banking Senator, Warren, who serves on the Senate Banking, Housing, and Urban Affairs Committee, has targeted the crypto industry in recent years, accusing the technology of various issues including terrorism, espionage, malware, and drug trafficking. She has proposed several significant bills aimed at restricting digital asset development in the U.S.

 

Notable Support

Although Deaton did not specifically address crypto during his victory speech, his campaign received notable support via figures in the crypto sector, such as the Winklevoss twins and Ripple executives. The Commonwealth Unity Fund, a crypto-focused political action committee (PAC), contributed over $1 million in Massachusetts to back Deaton.

Furthermore, major donors to his campaign include Ripple executives Chris Larsen and Brad Garlinghouse, Gemini founders Cameron and Tyler Winklevoss, SkyBridge Capital founder Anthony Scaramucci, Cardano co-founder Charles Hoskinson, and Kraken co-founder Jesse Powell.

As of July 31st, Federal Election Commission records show that Deaton had raised approximately $1.7 million for his Senate campaign. In April, Deaton submitted an amicus brief supporting 4,701 Coinbase customers in their legal battle with the United States Securities and Exchange Commission.

 

September 03,2024

WazirX Hacker Moves Stolen Funds To Tornado Cash

WazirX, one of the most popular crypto exchanges worldwide, was hacked earlier this year. According to PeckShield, a renowned security firm, the perpetrators of this major hack have reportedly moved a staggering 2,600 ETH, worth approximately $6.5 million, to Tornado Cash, a cryptocurrency mixer that is currently sanctioned by the United States. This move aims to obscure the trail of stolen funds, making it significantly harder for law enforcement to trace and recover the assets.

 

A Complicated Process

Mixers like Tornado Cash are frequently utilized by cybercriminals as a method to complicate the process of tracking stolen cryptocurrency. By obscuring the origins and destinations of the funds, these mixers effectively muddy the waters, presenting additional challenges for those trying to reclaim the stolen assets.

The attack on WazirX, which was originally confirmed on July 18th, 2024, targeted the multi-signature wallet of the exchange, resulting in a staggering financial loss exceeding $230 million. The breach has had severe repercussions for the platform, disrupting its ability to maintain balanced collateral against its assets. As a result, withdrawals have been frozen, and trading has been suspended since July 21st while the WazirX team focuses on recovery efforts.

 

Bad To Worse

Unfortunately, this situation means that users may face substantial losses. The ongoing restructuring process could lead to users not receiving the full value of their cryptocurrency held on the platform at the time of the attack. The extent of these losses is still unfolding, as the exchange works to stabilize its operations and manage the fallout due to this significant breach.

Compounding the gravity of this incident is the suspicion that it may have been orchestrated by the Lazarus Group, a notorious hacking organization linked to North Korea. Known for its high-profile and devastating cyber exploits, including a $600 million theft via the Ronin sidechain in 2022, the Lazarus Group being involved would signal a new level of sophistication and menace in the world of cybercrime.

 

September 03,2024

Here Is Why September Is A Crucial Month For Crypto

September could very well be pivotal for the cryptocurrency market with significant events like presidential debates and Federal Reserve decisions scheduled. Historically, September has been challenging for cryptocurrencies. In September 2023, Bitcoin (BTC) dropped to between $26,000 and $27,000. The same trend occurred in 2022, when the flagship crypto fell to $18,000 and fluctuated around $22,000 during a market decline.

 

Upcoming Key Events

Notably, after reaching its peak in 2021, Bitcoin also decreased to a range of $41,000 to $48,000 in September. This year, several forthcoming events could influence the broader crypto market. The Bureau of Labor Statistics is set to release a jobs report on September 6th, which could impact the crypto market. Previous reports have shown the potential to move crypto prices, as evidenced by the decline in Bitcoin and Ethereum (ETH) following the August report.

Additionally, a presidential debate between Vice President Kamala Harris and former President Donald Trump is scheduled for September 10th. This event might influence the crypto industry given the differing cryptocurrency policies of the candidates, with Trump advocating heavily for Bitcoin and claiming he will fire Gary Gensler if re-elected.

 

Interest Rate Decision Looms

Another significant development is the Federal Reserve finally making a decision about the interest rates, which is expected on September 18th. The market anticipates a rate cut of 25 to 50 basis points. Brian Dixon, CEO of OTC Capital, noted that while 67.5% of market participants foresee a 25 basis point cut, a larger reduction could have a negative impact on the market.

Furthermore, the introduction of euro-backed stablecoins, such as EURI and EURC, is on the horizon in Europe. Considering past volatility, September could prove to be a crucial month for the cryptocurrency sector, though the exact market response will become clear only after evaluating the outcomes of these significant events.

 

September 02,2024

A New Era For Cardano Begins As Chang Hard Fork Goes Live

Cardano (ADA) has recently implemented the Chang hard fork update, marking a significant advancement in its governance structure. This upgrade signifies a major shift towards decentralized decision-making, allowing ADA token holders to actively participate in voting on proposals and selecting governance representatives.

The update comes shortly after Cardano founder Charles Hoskinson discussed several major updates during Rare Evo 2024, where he talked about focusing on advancements in technology, governance, and global outreach.

 

Enter Voltaire

The development heralds the beginning of the Voltaire era, a new phase aimed at enhancing governance for Cardano. The upgrade also introduces CIP-1694, a key improvement that transfers governance control and gives it to community-led organizations.

These include the Constitutional Committee, Delegate Representatives, and Stake Pool Operators, which are all designed to ensure a more democratic and decentralized approach. By doing so, Cardano aligns itself more closely with the broader decentralized ethos of the blockchain industry and increases the utility of the ADA token.

 

Governance Overhaul

Cardano, launched in 2017 by Input Output Hong Kong (IOHK), is known for its research-driven approach and commitment to security and scalability. Its ADA token, named after Ada Lovelace, the 19th-century mathematician, serves as the native cryptocurrency for the platform and is used for transactions, staking, and governance.

The Chang hard fork is the initial phase of this governance overhaul, with the full implementation of governance powers expected within the next 90 days. This positions Cardano as a leader in on-chain governance, setting a new standard for blockchain networks in terms of community involvement and decentralized control.

 

September 02,2024

BTC Miners Experience Worst Revenue Month Since September 2023

Bitcoin (BTC) miners experienced their lowest revenue month since September 2023 in August, due to a decrease in the number of coins mined. Last month, their revenue reached $827.56 million, a decline of over 10.5% compared to$927.35 million in July, but an increase of 5% relative to August 2023, according to Bitbo data.

Meanwhile, concerns are rising within the crypto community about the increasing centralization of Bitcoin, which some fear could undermine the fundamental principles of the flagship cryptocurrency. Recent data by BTC.com shows that two mining pools, Foundry USA and AntPool, now control about 57% of the total Bitcoin Network hashrate.

 

A Substantial Drop

The August figures represent a 57% drop compared to the peak experienced this past March where they were just under $1.93 billion, coinciding with Bitcoin experiencing an all-time high of over $73,500 on March 13th. This is the lowest revenue month for Bitcoin miners since September 2023 when they earned $727.79 million while Bitcoin was priced around $25,000.

Monthly revenues for Bitcoin miners have been on the decline throughout 2024 after reaching a peak in March. The number of BTC mined also saw a slight decrease, falling to 13,843 BTC last month compared to 14,725 BTC in July.

 

The Main Reason

The decline in revenue is attributed to decreased transaction volumes and increased mining difficulty, which was exacerbated by the Bitcoin halving in April that reduced rewards by 50% to 3.125 BTC. In August, median fees accounted for 2% of a block reward, and the 30-day average of daily confirmed transactions reached a year-to-date high of nearly 631,648 on July 31st before falling to 594,871 by August 31st.

According to Bitbo and Blockchain.com data, mining difficulty also continued to rise, reaching an all-time high of 89.47 trillion in August compared to 86.87 trillion in July. As a result of increased difficulty and lower profitability, some miners have shifted their computing power to artificial intelligence (AI) projects, with some agreements generating billions of dollars.

 

September 02,2024

Web3 Fundraising Deals - 27th August To 7th September, 2024

IDA raised $6M in Seed funding with assistance by Hashed Fund. IDA is a digital asset technology company to spearhead the widespread adoption of blockchain finance and empower businesses to integrate between Web2 and Web3.

 

 

Kredete secured $2.25M in Seed funding with support by Blockchain Founders Fund. Kredete is a financial platform focused on empowering African immigrants by enabling them to build credit and send money home with low fees.

 

 

Adot raised an undisclosed amount in Strategic funding with help by Aptos Foundation. Adot is a decentralized search network for the AI Internet, enhancing Web3 content search and empowering developers to create personalized search features. Its goal is to surpass traditional search engines, making high-quality data openly accessible.

 

 

Odos secured an undisclosed amount in Series A funding with support by PAKA. Odos is a cutting-edge platform that caters to both institutional and retail traders, empowering them with a competitive edge in swaps. 

 

 

Verofax secured $3M in undisclosed funding with support by Plug and Play Tech Center. Verofax leverages advanced Web3 technologies, such as AR, AI, and blockchain to enhance marketing experiences for tourists, shoppers, and brands.

 

 

Bridge raised a whopping $58M in undisclosed funding with assistance by Sequoia Capital. Bridge is building a stablecoin-powered money movement platform, offering services such as payouts, cross-border payments and exchanging foreign currencies.

 

 

Mereo. secured an undisclosed amount in Strategic funding with support by Aptos Foundation. Mereo is a platform designed to enhance fan engagement by rewarding fans for their interactions and reputation. It allows users to create dynamic tickets that evolve based on fan actions, facilitating event creation, ticket sales, and attendee management.

 

 

Edge Matrix Chain (EMC) raised $20M in undisclosed funding with help by P2 Ventures. EMC is a blockchain and P2P (Peer-to-Peer) network-based edge computing protocol that encompasses features such as smart contracts.

 

 

Quai Network obtained $5M in Strategic funding with assitance by MH Ventures. Quai Network is designed to create radically more efficient blockchains. Since Quai Network is modular, it can scale horizontally to accommodate more users as the network grows.

 

 

Bware Labs raised an undisclosed amount with support by Alchemy. Bware Labs aims to tackle Web3 challenges and boost global adoption by offering high performance and reliable infrastructure services and development tools. The ultimate goal is to create a development and infrastructure ecosystem that can support builders throughout their entire Web3 journey.