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Solana Introduces Web3 Mobile Phone Saga

by Blockchain NewsJune 24, 2022

Solana Labs subsidiary Solana Mobile has announced the launch of the mobile phone “Saga” set for launch in 2023.

The flagship Android mobile phone is a modified OSOM handset which consists of speciality crypto wallet functions and the “Solana Mobile Stack (SMS)” software development kit for Web3 programs.

Solana said that the $1000 mobile phone has “unique functionality and features tightly integrated with the Solana blockchain, making it easy and secure to transact in web3 and manage digital assets, such as tokens and NFTs.”

Saga designer OSOM is a leading Android development company. The company has built computing hardware for Google, Apple, and Intel, among others.

Saga was introduced at an event in New York. The event also introduced Solana Mobile Stack, a framework for Android allowing developers to create rich mobile experiences for wallets and apps on Solana and create a “Secure Element” for private key management.

“The Solana Mobile Stack SDK is available to developers now, and Saga is available for pre-order starting today, with delivery in early 2023,” Solana said in an announcement.

Solana’s biggest mobile-focused bet will feature a Web3 dapp (decentralized app) store, integrated “Solana Pay” to facilitate QR code-based on-chain payments, a mobile wallet adapter and a “seed vault” that will store private keys deep within the recesses of the phone.

“Saga starts from first principles to create a mobile experience for individuals, developers, and ecosystem participants that opens a new era of mobility,” said Jason Keats, co-founder and CEO of OSOM. “The world needs novel hardware to embrace the future that is web3, and building out an ecosystem that looks to the future without being burdened by past legacy ecosystems is hugely exciting for us.”

According to Solana, Saga’s specifications include a 6.67” OLED display, 12 GB RAM, 512 GB storage, and the latest flagship Snapdragon 8+ Gen 1 Mobile Platform, the security features of which will enable the Solana Mobile Stack’s Seed Vault.

“With the addition of a Secure Element built into the device, the Seed Vault keeps private keys, seed phrases and secrets separated from the application layer yet still capable of interacting with apps running on the device or in a mobile browser,” Solana said.

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Aspen Creek Launches First Solar-Powered Bitcoin Mining Facility in Colorado

by Blockchain NewsJune 24, 2022

Aspen Creek Digital Corporation (“ACDC”), a U.S.-based crypto mining firm, announced on Thursday that it has launched Bitcoin mining at a six-megawatts solar-powered facility in the western part of Colorado.

Aspen said its mining operation is co-located at a solar farm that has a capacity of 10 megawatts. While the miner intends to begin with Bitcoin mining at its data centre, it plans to eventually provide computing services to other businesses.

The Colorado data centre will run S19 Bitcoin mining machines and be co-located with a 75,000-square-foot research-and-development centre and fulfilment facility, Aspen said. The facility will serve as centralized testing, maintenance, storage and training hub for the company’s computing infrastructure.

Founded in January, Aspen is entering the industry at a time when existing miners are facing difficulty to remain profitable with the current plunge in crypto prices.

Alexandra DaCosta, CEO of Aspen Creek Digital Corporation, commented: “Recent market volatility has demonstrated the importance of our core strategy: controlling power as the principal input in bitcoin mining. The success of our first project is proof of our concept to substantially lower the cost of energy, the single largest input for bitcoin mining, and to do it sustainably. Our talented team and partners will dramatically improve the sustainability of the industry while building strong partnerships with local communities, delivering carbon transparency, and enhancing grid resiliency.”

Galaxy Digital – a crypto-focused financial services firm – was delighted by Aspen’s solar power project and management team, and therefore accepted to collaborate with the miner. As a result, Aspen said it has hosted some of Galaxy’s own miners at its Colorado site.

Besides that, Aspen stated it is building its second Bitcoin mining facility in Texas. The mining site, which is set to be operational this summer, is a 30-MW data centre with the capacity to host 10,000 ASIC (application-specific integrated circuit) miners co-located behind-the-meter with an 87-MW solar farm. Aspen also said it is developing its third mining centre elsewhere in another site in Texas – the 150-MW data centre co-located behind-the-meter, with a 200-MW solar farm.

Developing Crypto Mining Renewable Energy

The launch of Aspen’s solar-powered Bitcoin mining centre is good news for the rest of the other Bitcoin miners.

Several experts worldwide have criticized Bitcoin mining for its high energy consumption. It is estimated that Bitcoin consumes electricity at an annualized rate of 127 terawatt-hours (TWh). Such usage exceeds the entire annual electricity consumption of Norway.

In May last year, Tesla CEO Elon Musk decried Bitcoin’s “insane” energy consumption, noting that the flagship cryptocurrency “comes at great costs to the environment.”

In June last year, Financial services firm Square Inc. announced plans to build an open-source, solar-powered Bitcoin mining facility in the US through a partnership with blockchain technology provider Blockstream. The aim of the two firms was to drive the adoption and efficiency of renewables within the Bitcoin ecosystem.

This came weeks after Elon Musk’s move and launched a Bitcoin Mining Council along with US crypto miners to promote sustainable mining.

In April this year, Blockstream and the Block Inc (formerly Square) announced the construction of a solar-powered Bitcoin (BTC) mining facility in Texas that uses solar and storage technology from Tesla. The site is expected to be completed toward the end of this year.

Early last month, Uzbekistan allowed firms to mine cryptocurrencies using solar energy and therefore exempted all crypto operations by domestic and foreign companies from income tax.

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Tagged : ASPEN CREEK / Mining / MINING FIRM / SOLAR-POWERED BITCOIN MINING FACILITY

Bentley Announces its Debut into the Web3 World with NFT Collection

by Blockchain NewsJune 24, 2022

Bentley Motors is making an enterprising plunge into the Web3.0 ecosystem with a new Non-Fungible Token (NFT) collection.

Coming off as the next luxury auto brand to dive into the growing NFT world, Bentley said its collection comprises 208 pieces uniquely created by Bentley Design.

The British company noted that it chose the number 208 for its significance to the company. As unveiled by the firm, the number 208 represents both the top speed of its fastest Grand Tourer (the Continental GT Speed) and the entire production run of the iconic R-Type Continental of 1952 – the car that inspired the modern Bentley design DNA.

Bentley noted that the NFT drop is its first move into a broader embrace and integration of Web3.0 experiences for all its customers worldwide.

“Bentley customers are living their lives online, purchasing luxury goods with digital currency, and establishing businesses in the Metaverse,” Member of the Board for Sales and Marketing, Alain Favey said in a comment, “We’ve always engaged our customers where they explore their passions, and today that means being present in digital marketplaces and offering NFT assets. We’ve seen how NFTs have raised the profiles of both art and artist, and we believe the same can happen in the luxury automotive space.”

The NFTs will be built on the Polygon Network, leveraging its carbon-neutrality status which aligns with its goal to also become Carbon neutral by 2030. The company affirmed the NFT drop will be officially launched in September and will grant holders exclusive access and benefits.

Back in January this year, Blockchain.News reported that Lamborghini, the Italian luxury auto brand also floated its own NFT, featuring a 3D composite material that has made a return voyage to the International Space Station (ISS).

The proposed NFT collection by Bentley is evidence of mainstream automakers growing embrace of this new world.

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Tagged : BENTLEY / Lamborghini / NFT / Polygon

Bentley Announces its Debut into the Web3 World with NFT Collection

by Blockchain NewsJune 24, 2022

Bentley Motors is making an enterprising plunge into the Web3.0 ecosystem with a new Non-Fungible Token (NFT) collection.

Coming off as the next luxury auto brand to dive into the growing NFT world, Bentley said its collection comprises 208 pieces uniquely created by Bentley Design.

Bentley noted that the NFT drop is its first move into a broader embrace and integration of Web3.0 experiences for all its customers worldwide.

The proposed NFT collection by Bentley is evidence of mainstream automakers growing embrace of this new world.

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Tagged : BENTLEY / Lamborghini / NFT / Polygon

Bailout Might Not the Best Option for Saving Poor Crypto Projects, Says CZ

by Blockchain NewsJune 24, 2022

Binance Chief Executive Officer, Changpeng Zhao (CZ) shared a note on Thursday that bailouts should be conducted conditionally, some of the projects might not be worth to be saved due to their poor performance amid the crypto winter.

Without sentiments, the Binance boss said not all companies are meant to be rescued, and he implied that this current economic meltdown that has rubbed off on the crypto industry is just a way to expose the firms without concrete business models. CZ submitted that some firms just do not deserve a bailout as they have “no product-market fit, are poorly managed, and are poorly operated”.

He noted that while the above inefficiencies are not the challenges of many other struggling businesses, he said excessive spending is what is driving most firms to the ground. Based on these facts, CZ said these badly managed firms do not deserve to be bailed out.

“In any industry, there are always more failed projects than successful ones. Hopefully, the failures are small, and the successes are large. But you get the idea. Bailouts here don’t make sense. Don’t perpetuate bad companies. Let them fail. Let other better projects take their place, and they will,”

Changpeng Zhao noted that its deals team is considering bailouts for some companies that have approached it, however, the merits of the requests will be carefully explored. The whole comment from CZ came following the bouts of bailouts that are currently being dished out to ailing crypto lenders in the space.

While FTX derivatives exchange has come to the aid of BlockFi with a $250 million revolving credit facility, Voyager Digital also secured a $200 million bailout fund from Alameda Ventures, a trend that now seems to be commonplace in the digital currency ecosystem of today.

Image source: Changpeng Zhao Twitter

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Tagged : Bailout / Binance / Changpeng Zhao / Crypto / Industry Expert / RESUCE

Coinbase to Suspend Coinbase Pro Platform By Year-End, Developing New Advance Trading Interface

by Blockchain NewsJune 24, 2022

American cryptocurrency trading platform, Coinbase Global Inc has unveiled plans to close down its Coinbase Pro platform by the end of the year.

The exchange said the move was stirred by its collective efforts to revamp how its users interact with its platform as it seeks to provide a more flexible trading ecosystem.

In a bid to cut off its split platforms which naturally causes friction for users, Coinbase said it has developed a new interface, the Advanced Trading offshoot which it said can now be accessed through its main platform. While the Coinbase Pro platform will still be available for some users, expert traders who want more sophistication in their charting can now access the Advance Trade offshoot.

“Many customers rely on Coinbase Pro and Coinbase.com for overlapping sets of features, and often experience friction when transferring balances back-and-forth between the two products,” said Dan Stone, Group Product Manager, and Andrew Herman, Engineering Manager, adding that “to resolve this friction and offer customers the best of both worlds, we have rebuilt the full Coinbase Pro advanced trading experience within the Coinbase mobile app and Coinbase.com. As we continue to add more features to Advanced Trade on Coinbase, we will sunset Coinbase Pro later this year.”

The exchange will make all of its products and services accessible through a single interface, while also developing the capabilities of the Advance Trade platform to meet the demands of a modern exchange outfit.

Coinbase is doing all it can to match up with the growing competition in the American crypto trading ecosystem. As announced earlier this week, Binance.US announced it has cut off fees for certain Bitcoin (BTC) trading pairs, a move that can fuel more patronage in the coming days.

According to Coinbase, besides advanced trading, users will be able to access more products including staking which comes with a competitive interest rate.

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Tagged : Coinbase / Coinbase Pro / Crypto / Exchange / Exchanges / Staking

NHL Partners with Sweet for Digital Collectibles NFTs Marketplace

by Blockchain NewsJune 24, 2022

The National Hockey League (NHL), an organization managing 32 professional ice hockey teams in North America, announced on Thursday that it plans to launch an NFT marketplace. NHL partnered with the non-fungible token (NFT) platform Sweet to develop the project.

Dave Lehanski, NHL Executive Vice President, For Business Development and Innovation, said that the ice hockey league is proud to be launching the NHL’s official NFT digital collectables marketplace this upcoming season. The executive said the marketplace would offer such a new and innovative interactive touchpoint for NHL fans.

Lehanski further disclosed: “We invested a significant amount of time to analyze the marketplace and establish a fan-first strategy and are now thrilled to announce a partnership with a company, Sweet, that will not only provide us with a world-class digital NFT collectables experience but also a commitment to developing a comprehensive platform that is completely designed and customized for the NHL and wholly focused on connecting with hockey fans in the most authentic and engaging manner possible.”

The National Hockey League has signed a multiyear deal with NFT platform Sweet – a partnership that will see Sweet create NFTs featuring cinematic, high-definition moments, and become NHL’s official digital collectables marketplace that allows NHL fans to trade and collect NFTs.

The anticipated NFT marketplace will allow fans to purchase digital collectables based on recent and historic NHL video footage from iconic moments in the competition’s rich history.

The digital collectables will include both the latest and archival NHL’s video moments. The collectables will feature previous and current NHL players, including the likes of Wayne Gretzky, Tie Domi, Sidney Crosby, and Mario Lemieux, among others.

The partnership marks the first time when the NHL, National Hockey League Players’ Association (NHLPA) and NHL Alumni Association (NHLAA) come together to release videos and other collectables.

The NHL said Sweet’s simplified user interface will easily engage first-time NFT owners as well as gamify features within the marketplace, like quizzes and challenges, and also allow fans to interact with each other.

Sweet’s other sporting clients include the NBA’s New York Knicks, the McLaren and Red Bull Formula One teams, and the Australian Open tennis tournament, the report indicated.

NFTs Defining the New Sports Industry

NFTs have penetrated the art market and are now rapidly expanding into the sports market. The announcement by the National Hockey League follows several other major league sports associations embracing NFTs.

Throughout the world of sports, NFTs are being used to unlock new channels for creative expression, fan engagement, and revenue generation.

Most of the world’s watched leagues, such as the National Basketball Association (NBA), Major League Baseball (MLB), the National Football League (NFL), and the National Hockey League (NHL), are releasing NFT collectables that digitize current and past beloved traditions of trading cards and memorabilia.

In this way, such sports leagues are not only providing their fans with a new way to engage with their favourite sports but also a way for themselves to earn new sources of revenue.

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Tagged : Digital Collectibles / Marketplace / NFT / NHL / SWEET

Cristiano Ronaldo to Bring his Fans into Web3.0 through Binance Partnership

by Blockchain NewsJune 24, 2022

Binance exchange has signed Cristiano Ronaldo, a Portuguese footballing legend who now plays for Manchester United FC, in an exclusive multi-year deal.

As announced by the trading platform, the deal will see both the exchange and Ronaldo collaborate in creating Non-Fungible Tokens (NFTs) on an annual basis which will be on sale on the Binance NFT marketplace.

Ronaldo is a living legend in the world of football with a series of accomplishments both for his country and the football clubs he has played for. As a sports maestro, Ronaldo has a dedicated fan base, and through this partnership, he will be educating them to explore the broader Web3.0 ecosystem.

“Cristiano Ronaldo is one of the world’s best footballers and has transcended sport to become an icon in multiple industries. He has amassed one of the world’s most dedicated fan bases through his authenticity, talent, and charity work,” said Binance Founder and CEO “CZ” (Changpeng Zhao). “We are thrilled to provide his fans with exclusive engagement opportunities to connect with Ronaldo and own a piece of iconic sports history.”

Binance exchange has been very conservative when it comes to promotions. However, the trading platform has positioned itself as the hub through which millions of new users will start exploring the possibilities in blockchain technology. The partnership with Ronaldo, who is as passionate about the opportunities in the Web3.0 space as the exchange, is an opportunity to reach a dedicated fanbase worldwide.

It is becoming a norm for blockchain startups to partner with footballing legends. Back in March, Socios, a blockchain-based fan engagement platform, also signed a $20 million deal with Paris Saint Germain star Lionel Messi to promote fan tokens. Socios creates an avenue by which clubs like PSG can launch a dedicated fan token that can bridge the gap between fans and these clubs.

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Tagged : Binance / Cristiano Ronaldo / Industry / NFT / WEB3.0