Avalanche rakes in £167m of funding led by Polychain

Avalanche

Avalanche, a proof-of-stake and smart-contract enabled cryptocurrency, has received £167 million in funding through a private sale led by Polychain and Three Arrows Capital.

R/Crypto Fund, Dragonfly and CMS Holdings also invested substantially by buying up the company’s native AVAX token.

Avalanche is an ultra-fast and eco-friendly blockchain protocol with a growing ecosystem of decentralised finance (DeFi) products.

Avalanche has experienced monumental...

HIVE Blockchain warns of fraudulent impersonator websites

Crypto miner HIVE Blockchain Technologies has issued a warning against multiple imposter groups pretending to be HIVE to “defraud individuals”.

According to a post on its website, some people have already been targeted and affected by these groups, having lost money to supposed investments.

“Some of these impersonator groups appear to promise large returns on investment and are not legitimate. Other impostors are promoting investment through an app. We are not...

IOTA Foundation selected for EU blockchain network

EU flags outside the EU headquarters.

IOTA, the open-source distributed ledger and cryptocurrency, has been selected as one of seven contractors by the European Blockchain Partnership (EBP) to develop and enhance pan-European blockchain services.

Overseers of the IOTA network, the IOTA Foundation is set to “participate in the first phase” of the EU’s blockchain pre-commercial process.

This stage will see new distributed ledger solutions designed with a focus on energy efficiency and scalability. If...

Blockchain Expo 2021: Crypto investors, CBDC, and retail participation

Cryptocurrencies.

The global blockchain technology market is estimated to accumulate $20 billion in revenue by 2024.

According to a study by Transparency Market Research (TMR), this is largely down to the rapidly rising interest among several giant companies in leveraging the disruptive potential of blockchain.

This, in turn, has created an increasingly competitive vendor landscape. Furthermore, the continuous entry of new players capitalising on the use of the process for practical...

Leaders in financial services gaining faith in blockchain

Financial Data Analytics

Most financial services leaders now see blockchain as an important source of competitive advantage, according to Deloitte’s ‘2021 Global Blockchain Survey’.

In its poll of 1,280 senior executives and practitioners, the survey found that 77% said their organisations would lose opportunities for competitive advantage if they did not adopt blockchain or digital assets into their business strategy.

Similarly, 80% of leaders believed their industry will see new revenue...

Telefónica Tech launch document verification service using blockchain

Person signing document

Telefónica Tech, the Madrid-based telecoms company behind O2 and Vivo, has launched its own blockchain-based document certification service.

The new service utilises Telefónica’s in-house TrustOS platform to generate certificates that combine the digital signature of the user with a trace of the content to be certified, alongside a time stamp to establish the date of certification.

It will allow companies to generate digital evidence of authorship, ownership, and...

Is blockchain the key to trust in social media?

Social media apps on a smartphone.

The Cambridge Analytica scandal in 2018 drew massive attention to the way in which social media companies handle their users’ private data.

At the time, details regarding how Facebook had been providing users' personal information to third parties made the headlines around the globe, and caused the public to think more carefully about what happens to the personal data they offer social media firms.

Since then, it seems that trust in social media companies has...

British firm contracted to develop blockchain capabilities for EU

map of Europe

The EU has chosen London-based startup iov42 to help design and develop European blockchain solutions.

iov42 utlises AI and blockchain to accelerate financial and non-financial transactions. The company staved off competition from more established firms, such as Deloitte, EY and Vodafone, in order to win one of seven contracts handed out by the European Commision, the EU’s is the EU's politically independent executive arm. Collectively, the deals are worth €6.2m...

Cardano’s ADA token becomes third largest cryptocurrency

Cardano ADA Token

ADA, Cardano’s native token, has surpassed stablecoin Tether to become the third largest cryptocurrency based on market cap.

According to cryptocurrency tracker CoinGecko, the ADA token now has a market cap of $64.9 billion (£47.2bn) compared to recently overtaken Tether which sits just shy at $64.6 bn (£46.9bn).

Perhaps more notably, the Cardano coin has a seven day growth rate of 20.8%, putting it leaps and bounds ahead of Tether’s 0.7% growth or top dog...

Microsoft devises blockchain-based piracy solution ‘Argus’

Copyright Claim

Researchers from Microsoft have found a new way to fight online piracy using a proposed bounty system called ‘Argus’ that runs on the Ethereum blockchain.

In a recent article, titled ‘Argus: A Fully Transparent Incentive System for Anti-Piracy Campaigns’, the software giant’s research department introduced the blockchain-based bounty system that could potentially see development.

Piracy does not just hurt major copyright holders like Microsoft and other tech...