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Fantom Foundation’s biweekly “Fantom General Update,” was published on 4 July. It highlighted the integration of the Chainlink Keepers and Chainlink VRF on the Fantom mainnet as a significant ecosystem upgrade in the last 14 days. Within this period, the price per FTM rose to a high of $0.31, after which the bears forced a […]
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The Stellar (XLM) protocol recently had an issue as an outage caused some nodes to go offline. However, the developers have responded swiftly to implement an upgrade to the affected protocol, according to reports.
A blog post, Stellar Foundation revealed that the outage on April 16 caused validating nodes and non-validating nodes, including the ones operated by the stellar network, to go offline.
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While the outage didn’t last, the company says it deemed it necessary to cay out an upgrade to fix the minor issue and prevent a reoccurrence in the future.
The upgrade began after some organizations couldn’t recover network access. But the new protocol 16 is said to have solved the problem, which affected multiple nodes but didn’t affect network stability.
Stellar updated its company FAQs to explain the validator nodes. The company stated that the public Horizon instance stopped recording the nodes since they have stopped processing ledgers.
The company added that the protocol was not able to submit transactions or serve requests to the network.
To solve the problem, the engineer developed a patch within two days, launching the Stellar Core v16.0.0 version and upgrading it after network validators voted on the network.
Stellar Foundation added that all impacted nodes can now be upgraded to a compatible software for protocol-16 to restore network access.
As stated earlier, the Stellar Network was affected b a network-wide outage that stopped it from processing transactions for some hours. But the wide range of developments within the Stella ecosystem means that the outage will not affect the Stellar blockchain as it should.
Most notably, Grayscale invested over $35 million in XLM following increased institutional interest in Stellar.
In the future market, investment needs more specialized calculations and research, and risks need to be disclosed more transparently and strictly managed. In this irreversible wave, professional institutions gradually stand at the center of the stage.
Written by: Ad
In 2020, in addition to Bitcoin once climbing to a high point, Ethereum 2.0 and distributed financial DeFi are also rapidly emerging, becoming the most cutting-edge new outlets in the blockchain industry. At the same time, global mainstream payment institutions such as VISA, MasterCard and Paypal have also accelerated their deployment in the field of blockchain and digital asset payment. The New Deal of the U.S. Banking Regulatory Department allows banks to provide customers with digital asset custody services. Catalyzed by this series of positive factors, the digital financial market ushered in a new stage of development.
Traditional financial institutions are running into the market. This is a market-specific consensus starting in 2020. The once rash development of the digital financial industry is gradually fading away from its green appearance. The crazy bull market for retail investors that occurred in 2017 is gone forever.
The frequency of the occurrence of “under the sand” and “chickens and dogs ascend to heaven” will gradually decrease; in the next market, investment requires more professional calculations and research, and risks need to be disclosed more transparently and strictly managed. In this irreversible wave, professional institutions gradually stand at the center of the stage.
In the second quarter report on the digital financial product lending market, Credmark counted 85% of lending company data. In the second quarter of 2020, the scale of existing loans in this field reached US$4.632 billion, an increase of 90.62% from the previous quarter; the value of collateral exceeded US$8 billion in the same period. , An increase of 87.34% month-on-month.
Institutional customers dominate the digital financial lending market. In the second quarter of 2020, the stock loan ratio between institutions and retail investors was 3.5:1; the value ratio of institutional and retail collateral in the same period was 2:1. From the difference in the ratio of the value of stock loans and collateral, it can be found that institutional customers do have a very obvious advantage in the pledge rate.
So, where is the development of professional service providers in the market now? Does the new wealth management product really meet the needs of the market? In the future development, how should these service providers strive to seize market opportunities? This issue of Chain News will take everyone to explore the development status of service organizations in the digital financial field.
So far, the current institutions providing digital financial services are mainly exchanges, wallets and professional financial service providers. The cost of launching financial services on the basis of supporting cryptocurrency transactions is relatively low. For wallets and financial service providers, the cost of supporting asset mainnets and user drainage has certain obstacles to their development of financial services, but this is also one of the opportunities for them to stand out from the track.
Binance <br>As the world’s leading exchange, Binance’s Binance Wealth Management provides one-stop integrated wealth management products and services. There are four categories of current products, fixed-term products, new currency mining, and asset management. Users can Perform asset management according to your own financial preferences.
Current wealth management is mainly Binance Deposit, which deposits digital assets on the Binance platform, deposit and withdrawal, similar to bank demand deposits. As the name implies, regular wealth management products are assets deposited or pledged for a fixed period of time. They are divided into four categories: Binance’s regular and irregular high-yield activities, lock-up staking, and DeFi mining. New currency mining refers to users participating in new currency mining projects by providing pledged digital assets. Asset management mainly refers to two categories: liquidity mining and dual currency investment.
OKEx
OKEx’s financial products mainly focus on the three major products of Yubibao, lending and earning coins. Yubibao mainly has four forms: current, regular, event and holding rebates. Users can receive currency-based wealth management income through simple deposits in Yubibao, deposit and withdraw as soon as the funds are transferred, and can transfer the currency in the account to Yubibao account to obtain income, or transfer Yubibao’s coins to other accounts . It combines a variety of wealth management services, including currency value-added products, lock-in mining, loan investment terminals, and third-party DeFi services to provide users with more interest-bearing options. At present, coin-earning products have supported nearly 30 encrypted digital currencies including lock-up mining and Yubibao.
<br> wheat wheat wallet purse (MathWallet) is a general-purpose encryption wallet assets, has been upgraded to MATH, MATH relying on the wallet, is a multi-link chain and across the core of the block chain assets Hub, is the first to support the Intelligent currency One of the crypto asset wallets of the chain (BSC). Maizi Wallet includes four major financial services: investment, wealth management, lending, and payment. At the same time, the MATH VPoS mining pool has been launched to mortgage digital assets. It can also automatically reinvest according to the daily interest rate to maximize returns.
Binyin Wallet <br>Blockinwallet was established in September 2019. It is a Singapore financial service platform under Binyin Mining Pool. Its customer base is mainly for miners and wallet users. It is currently applying for MAS compliance supervision. The Binyin mining pool was founded in November 2017 and was established by the original core team of BTC.com. It supports mining in all mainstream currencies. Its computing power for BTC, ZEC, LTC and other currencies often ranks first.
HyperPay
HyperPay is a digital asset wallet that integrates custodial wallets, self-managed wallets, co-managed wallets, hardware wallets and other services. It also has wealth management, currency transactions, legal currency transactions, lightning exchange, mortgage lending, market tracking, multi-signature co-management, and assets Hosting, merchant payment and other functions. HyperPay business is oriented to both B-side and C-side users. For ordinary currency holders, you can choose to manage financial wallets. For large asset customers and institutional users, you can choose self-managed wallets and co-managed wallets or customized hardware wallet solutions.
Matrixport
Matrixport is a one-stop digital asset financial service platform, which mainly provides digital asset trading, lending, custody and payment services for enterprises and individual users. Matrixport is a digital asset financial service platform established by Bitmain co-founder Wu Jihan. CEO Ge Yuesheng and founding team members are also from Bitmain. The company is headquartered in Singapore, with offices in Hong Kong, Switzerland and other places. Matrixport has launched digital currency transactions, digital currency custody, pledged loans and other products, and more innovative products will be launched one after another.
PayPal Finance <br>PayPal Finance is a comprehensive encrypted financial service provider. PayPal was established in August 2018. It mainly provides encrypted asset deposits and loans, asset management, brokerage, and brokerage for high-net-worth qualified individual investors and institutional investors. Comprehensive financial services such as derivatives trading. After PayPal Finance established its core customer base, it gradually launched customized new products based on customer needs, such as the official PayPal Private, which is similar to China Merchants Bank Golden Sunflower’s private customized services for high-net-worth customers.
RenrenBit
RenrenBit (RenrenBit) is a blockchain digital bank that focuses on C2C digital asset lending services. The platform provides information matching between borrowers and lenders, pledge custody and risk control. Its founder is Zhao Dong, an early practitioner of the currency circle, a shareholder of Bitfinex, and a major OTC trader.
From the perspective of market development, the current wealth management products that are highly accepted in the digital currency field and have a wider range of users are mostly single-currency gain-based products with stable returns and low risks. With the expansion of the financial attributes of digital currency derivatives, more institutions and investors have more abundant and differentiated requirements for the allocation and benefits of financial solutions.
Some investors are willing to pursue medium and high-yield diversified wealth management products on the basis of taking certain risks. More diversified investment categories such as dual currency wealth management, staking, lending, and strategic trading pioneered by Matrixport are gradually appearing in the market. Have a place on top.
Lianwen will start with Matrixport and analyze its layout of its financial products to explore how professional service providers can seize market opportunities in the digital finance era and expand their services to a wider range of financial institutions and high-net-worth individuals.
Digital financial professional service providers first helped miners to hedge their risks and protect the value of their assets. But in the more than ten years of vigorous development of cryptocurrency, participants have evolved from early cypherpunks to Bitcoin miners, and expanded to more and more mainstream investment institutions. Cryptocurrency has moved from a small circle to a larger world. These changes have accelerated the emergence of the professional field of digital financial services.
According to functions and needs, Matrixport’s products can be divided into loan and wealth management, asset custody, trading and one-click “CeDefi” products. Matrixport provides digital asset financial services for mining machines, mining pools, quantitative funds, digital currency lending platforms, digital currency funds, exchanges, OTC traders, etc., and has launched more than 50 products from product categories.
On the road to inclusive digital finance in the encrypted world, Matrixport equips the market with comprehensive products and services in a timely manner, and constantly updates according to the market to meet the financial needs of customers at different stages, helping customers to reduce risks, achieve wealth preservation, and increase value. .
From the perspective of Matrixport loan products, it is mainly divided into two types: basic loan and “zero interest loan”. The basic loan product supports the borrowing of USDC, USDT, BTC, BCH, ETH, LTC, and supports four pledge coins of BTC, BCH, ETH and LTC. The basic loan amount is between 1,000 USDT and 200,000 USDT, and large borrowing needs can be purchased through customized products. Matrixport’s zero-interest loan product integrates stop-profit and stop-loss products into digital currency loan products. The loan product mainly has three features: zero interest, no need to cover up and crash protection, which provides a strong guarantee for miners’ fund protection under extreme market conditions. Matrixport provides miners with a zero-interest loan solution, which not only better avoids risks, but also solves the pressure on the flow of funds of miners.
In addition, Matrixport also created the first dual currency wealth management product in the industry in October 2019. This novel product quickly became popular in the industry after it was launched. It gained the attention and use of users in more than 20 countries within a month of going online. , Binance also launched similar products.
Different from the traditional form of digital currency wealth management, dual currency wealth management products judge the settlement method based on the “pegged price” to ensure that one of the two digital assets will receive income. For example, BTC/USD(S) dual currency investment, the pegged price is “8000 USD”. When the BTC market price is lower than 8000 USD, the settlement will be priced in BTC, and the income will be more BTC; when the BTC market price is higher than 8000 USD, It will be settled in USDC and will earn more USDC. Provide customers with a tool to automatically buy bottom and cash out at the target price (pegged price). At present, dual currency wealth management provides several products including Bitcoin, Ethereum, and USD stable currency. The optional purchase period ranges from 1 day to 163 days, which can provide higher annualized income (30-200% annualized as common Income range).
As the first company in the industry to launch dual currency wealth management services, Matrixport’s dual currency wealth management products mainly include BTC, ETH and BCH three mainstream crypto assets. The optional purchase period of the products ranges from 1 day to 140 days. There are six major products. The highest annualized rate of return exceeds 900%.
Relatively speaking, Binance Dual Currency Wealth Management products were officially launched on August 20. They are mainly divided into three major product areas: BTC area, USDT area and BUSD area. However, its dual currency wealth management products are currently sold due to limit restrictions. Out of stock, the official annualized rate of return ranges from 6.00% to 160.00%.
Cactus Custody is a third-party institutional custody service provider launched by Matrixport and a Hong Kong trust company. Cactus custody originated from Bitmain’s internal custody system, and later developed into a fully functional third-party custody after Matrixport was separated from Bitmain.
Since most of the customers who need custodial services are 2B customers, security and business continuity are paramount to both customers and service providers. For security, Cactus Custody chose to manage private keys in the industry’s highest-level HSMs (hardware security modules) and a proprietary multi-layer heating and cooling storage system. The core custody infrastructure is deployed in the four-level data center of the bank vault on three continents. Eliminate single points of failure through system heterogeneity, dual-center settings and remote disaster recovery mechanisms to ensure the highest security and business continuity. Also through the design of responsibility isolation and zero trust system, it is guaranteed not to rely on any single person.
In terms of compliance, Cactus Custody not only holds a Hong Kong TCSP license, but also strictly abides by the “anti-money laundering” regulations in all operating jurisdictions, conducts KYC with the highest standards, and has suspicious transaction reporting procedures for on-chain and off-chain transactions. In addition, Cactus Custody also cooperates with Elliptic to integrate on-chain transaction monitoring, and monitors all on-chain transactions through Cactus Custody and Matrixport to meet regulatory requirements and protect customers from digital financial crimes.
Up to now, Cactus Custody can support 39 digital assets, and safeguard the security of more than 50 institutional customers and digital assets worth about 1 billion U.S. dollars, and provide customers with uninterrupted, highest-quality asset security and business continuity guarantees.
Bit.com is a professional derivatives exchange launched by Matrixport and specializes in options. Bit.com’s strategic positioning is to serve institutional and individual clients from all over the world, including miners/hedges, prime brokers, proprietary dealers and funds.
Bit.com’s self-built transaction engine with all intellectual property rights provides matching of 10,000 TPS per second, and introduces a portfolio margin mechanism to improve the efficiency of the institution’s capital use. At the same time, it adopts a more scientific and gentle gradual liquidation mechanism to provide maximum customer positions protection of. Thanks to its lending business and transaction engine, Matrixport can provide the lowest interest rates and transaction prices in the industry, allowing the cost of leveraged transaction customers to be significantly controlled.
In the six months since its launch, Bit.com has reached a level of about 200 million US dollars in daily trading volume. In addition, Bit.com also launched BCH options on February 1 to fill the gap in the BCH options market.
The DeFi fire in 2020 is a portrayal of the urgent needs of market participants for diversified financial products. However, due to the high learning costs and operational difficulties for ordinary users such as liquid mining, and the large amount of funds entering the market The interaction cost of the Ethereum network has risen sharply, and the DeFi boom is still far from achieving true “inclusiveness” from the level of the number of users.
In response to this situation, Matrixport has launched a simplified one-click “CeDefi” product in response to market demand, taking into account the convenience of Cefi and the flexibility and transparency of Defi, and has launched a series of products that are well received by the market, such as current machine gun pool and smart selection And other products, it can help customers automatically switch between different DeFi high-yield projects, compound interest investments, current or large T+1 redemptions, and combined with mortgage lending, that is, mortgage BTC/BCH/ETH and other currencies to lend USDC/USDT for liquidity Functional mining and other functions enable BTC/BCH/ETH holders to directly invest in DeFi income, which greatly facilitates customers and enriches the scene.
At the same time, Matrixport also provides users with a combination of DeFi and derivatives investment product “Trend Zhiying” to help customers obtain excess returns in unilaterally rising or falling markets.
Digital financial professional service institutions can provide a complete system and relatively personalized services, which can adapt to different customer needs, and are also convenient for supervision by regulatory authorities, so as to achieve compliance and legal operations and reduce systemic risks. In the long-term development and precipitation of traditional financial models, countless operating models and new gameplay have evolved, and these traditional financial derivatives have gradually infiltrated the digital financial field of encrypted currencies.
Matrixport first launched its product in October 2019, and it has been online for 1 year and 4 months. In the past year or so, Matrixport has accumulated trust and reputation in the industry based on its rich financial product matrix and product innovation speed, rigorous and prudent risk control management, and professional compliance operations. Criticize quite loyal “fans.”
Matrixport CEO Ge Yuesheng told Lianwen, “Matrixport’s AUM (asset management scale) has exceeded 1 billion U.S. dollars in just over a year, and its loan balance exceeds 200 million U.S. dollars. The current wealth management scale exceeds 300 million dollars.”
With the expansion of services to a wider range of financial institutions and high-net-worth individuals, Ge Yuesheng hopes that Matrixport’s vision to become a “digital currency bank” is gradually being implemented. In 2021, Matrixport will shift its focus from building a product matrix and service system to market and customer service. Investment in this area will continue to increase, and the service area will also expand to more regions in Asia Pacific and Europe.
As Ge Yuesheng said, “In this era of digital financial services, Matrixport hopes to continue to lead the digital currency industry in innovative financial services and bring more professional and secure services and products to the industry.”
“2020 is not only the first year of digital currency financial services, but also the first year of mining financial services. A large number of structured products and lending products have experienced explosive growth and applications in 2020.” Ge Yuesheng was talking about 2020 The changes in digital financial services in the year are expressed.
Digital finance is accelerating, and the industry has ushered in structural changes. How to comprehensively deploy and provide precise services is the focus of development. A complete and leading product line, combined with professional and efficient security services, will enable the project to have a better market reputation and customer reviews. Based on the deep cultivation of the industry and the understanding of the market, Ge Yuesheng believes that 2021 will be a surging bull market, and preparing for a large number of customers and institutional funds will become the focus of Matrixport in 2021.
In Ge Yuesheng’s view, the reason why Matrixport has been able to develop into an industry-leading professional financial services organization so quickly is that, compared with its peers, it must always emphasize “full service” based on its rich industry resources and leading technical capabilities. “And “Professional Products”. Services and products increase user stickiness, and the synergy between businesses can also make a single product more competitive.
VANCOUVER, British Columbia, Feb. 16, 2021 (GLOBE NEWSWIRE) — DMG Blockchain Solutions Inc. (TSX-V:DMGI) (DMGGF:OTCQB US) (FRANKFURT:6AX) (“DMG” or the “Company”), a vertically integrated blockchain and cryptocurrency technology company, is pleased to announce updates and plans for its infrastructure and immersion cooling deployment initiative at its flagship cryptocurrency facility in anticipation of adding additional miners.
As previously reported, the Company has sufficient funds on hand to complete the retrofitting of the first 30 megawatts of infrastructure to immersion cooling, which will increase the Company’s future bitcoin mining capacity to approximately 1.0 Exahash (EH/s) when complete as planned in the first half of 2021. Immersion cooling requires approximately 30% less bitcoin miners than air cooled for the same hashrate, leading to significant capital cost reductions over air cooled systems.
DMG expects completion of the facility’s retrofitting of the next 30MW to reach a total of 60MW in the second half of 2021. Upon completion of the infrastructure and retrofitting upgrades and access to power supply, DMG’s facility will then have a future capacity for approximately 2.0 Exahash of immersion cooled Bitcoin mining utilizing 60MW of power.
In anticipation of the retrofitting timelines, DMG is currently in discussions with leading Bitcoin mining equipment manufacturers for a purchase order that would give DMG the right to purchase, in stages, a minimum of 1.0 EH/s of the newest generation of mining equipment specific to immersion cooling. Various manufacturing companies are developing specific immersion cooling Bitcoin miners which DMG has been reviewing for the optimal purchase for its retrofitting.
The future deployment of at least 1.0 EH/s of immersion cooled mining in the first half of this year is expected to occur in stages based on the amount of capital raised through equity and/or debt financing.
DMG’s COO, Sheldon Bennett, commented:
“DMG’s self-mining strategy is to deploy capital into the most efficient technology possible to ensure the best possible ROI on miners and greatest revenue potential over the life of the hardware. Upon the formalization of the Digital Currency Miners of North America (DCMNA) pool, DMG will connect all its miners to the DCMNA, thus increasing mining margins. Depending on the size of the purchase order(s), DMG may seek financial instruments to aid in completing this deployment of new miners.”
A large-scale purchase of mining equipment is subject to certain conditions including, but not limited to, DMG having sufficient funds to complete the purchase and the execution of a definitive contract setting forth the terms and conditions. Depending on the size of the purchase order, DMG may need to raise funds through the issuance of equity and/or debt financing.
The Company expects COVID-19 to affect the availability and timing of mining equipment, including increased shipping costs. If additional mining equipment is purchased for the Christina Lake facility, the Company expects longer than normal delivery times. As a result of this (which is happening industry-wide), DMG is using this time to upgrade its facility to be prepared for this future deployment of Bitcoin miners.
In addition to the physical retrofitting of the Christina Lake data centre, there are specific major components that are underway in parallel, to ensure the best operational performance from capital investments.
In order to ensure that the retrofitting and the addition of new infrastructure at the Christina Lake data center maintains DMG’s timelines, the Company has selected a British Columbia construction and manufacturing firm to oversee design, procurement, proprietary manufacturing and installation during this project. This will greatly aid DMG during the Covid-19 constrained supply chain challenges that most companies are facing in this industry.
“DMG’s goal is to be the most efficient and technologically advanced mining company in the entire Bitcoin mining industry,” said DMG’s COO, Sheldon Bennett. “Our immersion cooling deployment initiative is just the beginning of numerous technological innovations to be developed and implemented by DMG as part of our rapid growth strategy in the coming years, and the best is yet to come.”
Future changes in the Bitcoin network-wide mining difficulty rate or Bitcoin hashrate may materially affect the future performance of DMG’s production of Bitcoin, and future operational results could also be materially affected by the price of Bitcoin and an increase in hashrate mining difficulty.
About DMG Blockchain Solutions Inc.
DMG is a vertically integrated blockchain and cryptocurrency company that manages, operates, and develops end-to-end digital solutions to monetize the blockchain ecosystem. DMG’s businesses are segmented into three main divisions: data centre operations, data analytics and forensics and developing enterprise blockchains. DMG’s data centre operations focus on earning revenues from block rewards and transaction fees by mining primarily bitcoin as well as providing hosting services for industrial mining clients. DMG’s data analytics and forensic services provide technical expertise software products such as Blockseer Pool, Mine Manager and Walletscore, as well as working with auditors, law firms, and law enforcement organizations. DMG’s permissioned blockchain technology is focused on developing enterprise software for the supply chain management of controlled products. DMG’s strategy is to become the domain experts across the business verticals it focuses on. DMG’s management team includes seasoned crypto experts, forensic & financial professionals and blockchain developers with deep relationships throughout the industry.
For more information on DMG Blockchain Solutions visit: www.dmgblockchain.com
On behalf of the Board of Directors,
Daniel Reitzik, CEO & Director
For further information, please contact:
DMG Blockchain Solutions Inc.
Email: investors@dmgblockchain.com
Web: www.dmgblockchain.com
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking information based on current expectations. Statements about the purchase and timing of mining equipment and the related potential financings, to increase petahash (PH) (or exahash (EH/s)) by self-mining, completion of the upgrades to the facility and the expected benefits therefrom, price of bitcoin, plans and intentions, other potential transactions, acquisition of customers, product development, events, courses of action, and the potential of the Company’s technology and operations, among others, are all forward-looking information. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company’s financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; access to equipment; market conditions and the demand and pricing for products; the demand and pricing of bitcoins; security threats, including a loss/theft of DMG’s bitcoins; DMG’s relationships with its customers, distributors and business partners; the inability to add more power to DMG’s facilities; DMG’s ability to successfully define, design and release new products in a timely manner that meet customers’ needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. DMG may not actually achieve its plans, projections, or expectations. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to successfully develop software, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to secure sufficient capital to complete its business plans, the ability to achieve goals and the price of bitcoin. Given these risks, uncertainties and assumptions, you should not place undue reliance on these forward-looking statements.
The securities of DMG are considered highly speculative due to the nature of DMG’s business.
Factors that could cause actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued (or lack thereof) availability of capital and financing, equipment failures, lack of supply of equipment, power and infrastructure, failure to obtain any permits required to operate the business, the impact of technology changes on the industry, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, secure equipment, and hire personnel, competition, security threats including stolen bitcoins from DMG or its customers, consumer sentiment towards DMG’s products, services and blockchain technology generally, failure to develop new and innovative products, litigation, increase in operating costs, increase in equipment and labor costs, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by third parties in respect of the matters discussed above.
LONDON and AUSTIN, Texas, Jan. 27, 2021 /PRNewswire/ — Imandra Inc., the world leader in cloud-scale automated reasoning, and Itiviti, a leading technology and service provider to financial institutions worldwide, today announced the integration of Imandra’s enhanced Core Reasoning engine into Itiviti’s FIX certification and onboarding solution, Conductor. With multiple orders of magnitude improvement in Imandra’s reasoning speed, Conductor can now certify counterparties in hours rather than days.
The financial services industry has historically struggled with software reliability and meeting related regulatory compliance requirements. With this latest advance in its proprietary AI, Imandra squarely tackles these struggles with a scalable, quantitative analysis service that thoroughly maps systems and their edge cases.
“With the ever-growing complexity of financial markets, the need for rigorous, quantitative and scalable methods to deliver quality software could not be greater,” said Denis Ignatovich, Co-CEO, Imandra. “With these new AI advances, we can automatically map out the full functional behavior of a system and generate test vectors for rapid client onboarding.”
The latest release of Imandra’s Core reasoning engine arrives after more than six months of R&D to scale and test the techniques needed to cover a myriad of advanced use cases. The result is a solution that significantly enhances Region Decomposition, a powerful technique for extraction of “edge cases”, and automated testing of complex algorithms such as financial trading and communications.
“Our partnership with Imandra has been an industry game-changer, helping to transform a historically manual and time-consuming client certification process through automation,” said Linda Middleditch, EVP, Head of Product Strategy and Engineering, Itiviti. “Now, our clients can see a significant reduction in time-to-market for onboarding and certification while experiencing a significant improvement in the quality of their testing coverage.”
Having worked collaboratively for over a year, this integrated Itiviti/Imandra solution is now available to both existing and new Itiviti clients needing to test their systems and mitigate risk in a truly revolutionary way.
According to Dr. Grant Passmore, Co-CEO, Imandra, “Our partnership with Itiviti resulted in deep calibration, optimization, and advances in Imandra’s core reasoning algorithms. We could not be more excited to share our upgrades with Itiviti’s vast customer base.”
For further information, please contact:
Imandra
Denis Ignatovich, co-CEO, Tel: +44 20 3773 6225, Email: denis@imandra.ai
Grant Passmore, co-CEO, Tel: +1 512 629 4038, Email: grant@imandra.ai
Itiviti
Mireille Adebiyi, Chief Marketing Officer, Itiviti Group, Email: mireille.adebiyi@itiviti.com
About Imandra
Imandra Inc. (www.imandra.ai) is the world-leader in cloud-scale automated reasoning, democratizing deep advances in algorithm analysis and symbolic AI. The world’s leading financial firms already rely on Imandra for designing, testing and calibrating their most complex trading systems. It is also gaining momentum outside of financial services with US Department of Defense most recently acquiring Imandra Core licenses to aid in development of its autonomous systems program. Imandra, Inc. is headquartered in Austin, TX, and has offices in the UK and continental Europe.
About Itiviti
Itiviti provides nearly 2,000 financial institutions worldwide with flexible, cross-asset trading solutions that cover the full trade lifecycle. Through its commitment to technology innovation, relentless pursuit of workflow efficiency and an entrepreneurial culture, Itiviti is disrupting the industry with highly scalable solutions that deliver unprecedented cost savings for clients.
For more information, please visit www.itiviti.com.
Itiviti is owned by Nordic Capital.
This information was brought to you by Cision http://news.cision.com
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SOURCE Itiviti Group AB
Ethereum developers have begun to review the algorithm changes for network fee pricing, which may lead to a reduction in the total supply of Ethereum.
The Ethereum Improvement Proposal (EIP) 1559 sets a basic fee for the network. The basic fee is calculated through an algorithm based on whether the network is congested or not, and will increase or decrease accordingly.
The purpose of the proposal is to reduce costs, especially when network transactions are congested, so that people do not have to pay more for guessing network fees, but can use this algorithm to predict how much fees will be required.
According to the Status developer, “This allows the wallet to automatically set gas fees for users in a highly reliable manner.”
In another change, this basic fee will then be destroyed instead of being distributed to miners as it is now, unless the user adds an additional fee to this basic fee.
Sometimes, this can result in the destruction of about 5,000 eth per day or as much as 42,000 eth of gas at peak times like September.
Since the proposal adds the so-called soft limit of 10 million gas units, and then the hard limit of 20 million gas per block, based on the code calculation of all parameters, the basic fee is sufficient even during a period of network congestion. Include transactions quickly.
Therefore, while users save costs, holders will be able to benefit from the cost of destruction and miners will get their own block rewards.
This is a win-win solution. Although it is a complicated proposal, it has reached the stage of preliminary review.
In the past two weeks, about 12 coders have been working on the proposal. Tim Beiko, the new chairman of the Ethereum Core Developer Conference, pointed out:
“Although this PR version is not the final version (the current EIP 1559 specification is not the final version either!), it will provide enough background information for the Geth team for preliminary review.”
The developers also plan to test the network’s ability to withstand transaction spam attacks. If it remains in normal operation, it will well show that EIP-1559 is very powerful even in severe network congestion when dealing with states like the main network. . “
Therefore, as research and development progress, the proposal is moving towards becoming one of the biggest upgrades of Ethereum, which will improve the usability of Ethereum, especially in high-congestion situations, while reducing the issuance of ETH.
The Binance Chain mainnet, a blockchain software system developed by Binance and its community, is scheduled to do a hard fork upgrade around August 28 at 6:00 AM UTC.
According to the company’s post on August 23, the full node runners on the mainnet are expected to switch their software version to v0.8.0 by the hard fork date.
The change will have no impact on the BNB token holders and Binance Decentralized exchange users. However, full node operators of the Binance chain should follow the upgrade instructions on the main site to avoid disconnection and fail to send transaction troubles.
Source: Binance Official Announcement
The upgrade is named after the evolution theorist Charles Darwin. It is expected to handle “a series of new business logic”, such as BNB staking, cross-chain transfer, on-chain governance procedure for Binance Smart Chain, says the post.
Binance Chain wallet providers or service consumers should also pay attention to the new staking, cross-chain related business model features.
The new version of the Binance Chain will also fix the bug of the distributed staking rewards that were reported a few days back.
Binance Chain was reportedly launching a smart contract-enabled chain to let its developers build decentralized apps in April this year. The Smart Chain was said not to issue new tokens as block rewards. The rewards would be within the chain’s transaction fees instead.
Image Credit: Refer to Source
Author: Refer to Source Cointelegraph By Ting Peng
The Binance Chain mainnet, a blockchain software system developed by Binance and its community, is scheduled to do a hard fork upgrade around August 28 at 6:00 AM UTC.
According to the company’s post on August 23, the full node runners on the mainnet are expected to switch their software version to v0.8.0 by the hard fork date.
The change will have no impact on the BNB token holders and Binance Decentralized exchange users. However, full node operators of the Binance chain should follow the upgrade instructions on the main site to avoid disconnection and fail to send transaction troubles.
Source: Binance Official Announcement
The upgrade is named after the evolution theorist Charles Darwin. It is expected to handle “a series of new business logic”, such as BNB staking, cross-chain transfer, on-chain governance procedure for Binance Smart Chain, says the post.
Binance Chain wallet providers or service consumers should also pay attention to the new staking, cross-chain related business model features.
The new version of the Binance Chain will also fix the bug of the distributed staking rewards that were reported a few days back.
Binance Chain was reportedly launching a smart contract-enabled chain to let its developers build decentralized apps in April this year. The Smart Chain was said not to issue new tokens as block rewards. The rewards would be within the chain’s transaction fees instead.
Image Credit: Refer to Source
Author: Refer to Source Cointelegraph By Ting Peng
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