GEM Digital commits $50M to ParallelChain Lab for L1 protocol development
As a proof-of-stake layer-1 protocol, ParallelChain intends to deliver an architecture that operates in confidentiality while allowing to validate transactions. Digital asset investment firm GEM Digital Limited (GEM) has committed $50 million to finance ParallelChain Lab following the launch of its mainnet and native token listing, XPLL, in Q4 2022.As a proof-of-stake (PoS) layer-1 protocol, ParallelChain aims to bridge the infrastructure divide between centralized (CeFi) and decentralized finance (DeFi). The soon-to-be-launched ParallelChain Mainnet is open source and based on a PoS....
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Ahead of ParallelChain mainnet launch, GEM Digital Limited, a digital asset investment, has reportedly invested $50 million into the firm. The investment is targeted at the ParallelChain Lab Layer-1 protocol development project. The blockchain industry keeps growing in strength as more funds enter the industry. The DeFi community is one part of the blockchain industry […]
PRESS RELEASE. Nexo, the leading regulated digital financial institution with over $2 billion in assets under management, today announced the details of its buyback program. The company’s Board of Directors approved an initial repurchase of $12 million of its NEXO Token on an open-market principle, with the decision coming into force with immediate effect. Part of the company’s recently launched tokenomics overhaul Nexonomics, the move seeks to further boost the value of the NEXO Token, which marked a 160% price increase since the campaign’s launch in late October. The....
Polygon has announced the integration of yield optimization vaults on the Maker Network. The blockchain-enabled protocol, formerly referred to as the Matic Chain, tweeted on Wednesday that it “will be opening a vault on Maker” and investing $50M of MATIC tokens as agreed liquidity from the treasury. With the recent integration, it means the protocol […]
Bitcoin.com, Bitmain Technologies and several bitcoin companies have announced a $1.2 million Bitcoin Development Grant for bitcoin protocol development. There is to be no “official” bitcoin. The statement announcing the grant acknowledged there has been a “deep rift” that has distracted the bitcoin community. The grant is to support teams working on bitcoin protocol, foster the greater diversity of innovation and improve freedom of choice for bitcoin users. Founding Principles Stated. The Bitcoin Development Grant website cited the following principles as a foundation upon which to....
Contrary to popular belief, having more developers does not make things go any faster by default. It is not overly difficult to come across a controversial topic in the Bitcoin world these days. A new Reddit discussion erupted over the number of people actively contributing to Bitcoin Core development. The team claims roughly 100 people are involved, yet only 30 made actual commits last month. But does it even matter in the end, as long as there is progress? It has become apparent the Bitcoin community sometimes nitpicks about the strangest things. Granted, Bitcoin Core claiming to have....