elastos · 30

Bitcoin DeFi Project Elastos Launches BTCD, a BTC-Backed Stablecoin

According to CoinDesk, Bitcoin DeFi protocol BeL2 developer Elastos announced the launch of BTCD, a stablecoin backed by BTC. Ahmed IJ, head of marketing at Elastos, said that BTCD is backed by Bitcoin, and the collateral amount is equivalent to 160%-200% of BTCD's value. When the price of BTCD is above $1, holders will destroy tokens to redeem BTC, causing supply to decrease and the price to decline; if it falls below $1, users deposit new BTC to mint BTCD and sell it off, increasing supply and recovering prices.

430d ago

Data: A total of 17 projects received funding this week, with a maximum funding amount of $50 million

Comparative news, according to DeFiLama data, a total of 17 projects received financing this week, 6 fewer than last week. The most funded project was Cipher Mining, with a financing amount of 50 million US dollars. Of this funding of more than $20 million was: VitalVeda: $20 million, led by Rollman Management Digital; Irreducible: $24 million, led by Paradigm and Bain Capital Crypto; Cipher Mining: $50 million, led by SoftBank; Elastos: $20 million, led by Rollman Management Digital; D3 Global: $25 million, led by Paradigm; Humanity Protocol: $20 million, led by Pantera Capital and Jump Crypto; Pell Network: $35 million.

566d ago

Elastos launches Arbiter network public beta of its Bitcoin Layer2 network BeL2

In comparison, blockchain network Elastos announced the launch of the Arbiter Network public beta of its Bitcoin Layer2 network BeL2. Arbiter nodes provide time-based transaction supervision and decentralized dispute resolution functions, allowing Bitcoin to remain on the main network while using smart contracts on the EVM blockchain.

592d agoLuxurytracy#elastos #layer 2 #Bitcoin

[Comparative Interview] Founder of Elastos: Building an Intelligent Network to Revolutionize the Future of the Internet

At the Bitcoin 2024 conference in Nashville, Tennessee, Bitui had the privilege of interviewing Chen Rong, founder of Elastos and a senior expert in the field of operating systems. An in-depth discussion of Web3, smart networking capabilities, and Elastos' innovations and latest releases. Elastos was founded in 2018. The company aims to revolutionize the Internet by combining operating systems and blockchain architectures. The L1 blockchain is designed for secure and transactional purposes, and is complemented by sidechains and L2 to run decentralized applications and enhance scalability. ELA, the native token of Elastos, can be used to pay transaction fees and staking, and enhance security through joint mining with Bitcoin. The idea behind Elastos dates back to 2000, when Chen Rong wanted to create an “Internet operating system.” Although the design and functionality slowly changed from 2000 until now, his original vision remains the same: to provide a decentralized operating system for the internet. Chen Rong said that the problem with Web3 is its lack of inclusiveness: “Web 1.0 is for everyone to read, Web 2.0 is for reading and writing, but Web 3.0 only involves cryptocurrency fanatics... Reading, writing, and owning should serve everyone.” Therefore, he called his version of the internet the Smart Web (SmartWeb). One of the main goals of intelligent networks is to create better digital rights management (DRM) for non-physical assets. Chen Rong explained, “Assuming I own a copyright, can I rent it out? Can I buy a limited-edition virtual movie? How do you guarantee that there are only 500 copies?” He pointed out that the existing online movie distribution system is too concentrated and relies on a few large companies such as Netflix and Amazon. In order to solve this problem, the Elacity project built on Elastos came into being. Currently, the project is online and provides streaming and purchasing services. The recently released BeL2 solution aims to enhance interoperability and become a “native BTC DeFi decentralized clearing network service.” Chen Rong gave an example of an intelligent online e-commerce store. The funds will only be handed over to the merchant after receiving the delivery receipt. Bel2 uses zero-knowledge proofs to allow people to use BTC to settle on DeFi without leaving the Bitcoin mainnet. Although ELA tokens have dropped 97% from their all-time high in 2018, Chen Rong's team is still doing their best to improve the product's fit with the market. From attending the Bitcoin 2024 conference to switching to Bitcoin L2, Elastos has remained relevant in the ever-expanding Bitcoin ecosystem and is seeking to establish itself as an internet operating system that can stand the test of time. Whether Elastos and BeL2 can achieve these goals is still unknown, but their ambition and drive must be confirmed. Author: BitPushNews Lincoln Murr Compiled by BitPushNews Scott LiuTwitter: https://twitter.com/BitpushNewsCN比推 TG Community: https://t.me/BitPushCommunity比推 TG Subscriptions: Btok Subscriptions: & https://t.me/bitpush比推 nbsp; https://btok360.com/bitpush...

749d agoscottliu#BeL2 #Elastos BeL2 #WEB3 #Elaiyun Elastos #Chen Rong

Elastos bel2 has implemented an absolute BTC fundamentalist EVM solution with BTC Oracle

Comparatively, according to CoinDesk and Binance News, Elastos bel2 has achieved an absolute BTC fundamentalist EVM solution through BTC Oracle. The solution starts from the principle that it absolutely does not affect the sacred rights of BTC holders, and allows BTC to be exchanged with any other EVM chain crypto assets without leaving the Bitcoin main chain.

882d agoWendy#Elastos BeL2 #EVM #Bitcoin

Elastos plans to launch Bitcoin L2 BeL2

In comparison, according to CoinDesk, Elastos plans to launch a new Bitcoin Layer 2 network, BeL2, which will bring more complex possibilities to Bitcoin transactions, including smart contracts and irreversible digital protocols. Elastos developers say users can define, manage, track and modify smart contracts on Bitcoin without intermediaries. Additionally, BeL2 allows users to directly stake Bitcoin on the service and earn revenue when interacting with apps built on it.

977d agoyijunzhong007@outlook.com#BeL2 #elastos

A conversation with Fakhul Miah, an important member of the ELA community and former vice president of Morgan Stanley - The difficult process and significance of Yilaiyun's launch on Coinbase

Fakhul Miah is the co-founder of the Yilaiyun community team Elation Studios, a member of the 2nd CR Committee, and the CEO of CreDA, an important ecosystem project on Yilai Cloud. (CreDA has just recently launched ESC, with over 1,000 users) Fakhul Miah has worked in Morgan Stanley's investment banking for over 15 years and was the VP of Morgan Stanley's European, Middle Eastern and African Clearing Derivatives Customer Service Group. During his tenure at Morgan Stanley in 2017, he promoted futures construction for crypto assets, including business processes, product architecture, risk modeling, and margin methods. Recently, Fakhul Miah had a conversation in the Yilaiyun community to review the process of launching Coinbase and its significance for the future development of Yilaiyun. 1. Elastos (ELA) recently launched on Coinbase. Can you briefly introduce the Coinbase platform? Coinbase is the largest digital asset trading platform in the US and the most reliable digital asset trading platform in the world. Furthermore, Coinbase is already listed on the Nasdaq Stock Exchange, the largest technology stock exchange, and Apple, Microsoft, and Google are also listed on this exchange. Meanwhile, Coinbase customers are protected by crypto and FDIC insurance. Coinbase provides services in more than 100 countries and regions around the world, has more than 100 million users, and has a trading volume of more than 300 billion US dollars in the last quarter. It is regularly ranked in the top 2 of CMC and CG exchanges. 2. What is the significance of Elastos (ELA) listing on Coinbase for Elastos? Does this mean ELA has successfully entered the mainstream market of the industry? Of course, ELA's listing on Coinbase is an important milestone for Elastos, as it marks ELA's access to the US and global markets. Furthermore, I believe that the launch of ELA on Coinbase is a sign of trust and recognition for the development of our project. 3. It is said that Coinbase has a very strict listing process. As the main sponsor of this listing, what work have you done to achieve this success? What challenges did this process present? What are the biggest gains and experiences you've accumulated? Yes, Coinbase's listing process is very strict. Although the details of the listing process need to be kept confidential, I can attest that listing on Coinbase is very difficult because they have a very thorough and strict review process, and their internal digital asset listing team assesses the asset's compliance, legal, and information security aspects, and requires a great deal of information. More details about the listing process can be found at the link below. https://blog.coinbase.com/listing-assets-on-coinbase-is-free-and-always-has-been-8b60cb873af4. 4. Will Elastos' next focus on the global market? Will more exchanges be launched? Is there a more compliant and mainstream strategic layout? Yes, Elastos is expanding the global market. I'm having in-depth discussions with more top exchanges about the ELA listing. Currently, due to the confidentiality agreement, I can't reveal more to everyone, but as soon as it is finalized, we will announce it to the community through media channels. 5. What are your comments on $ELA's performance after it went live on Coinbase? To be honest, going public during a bear market is never ideal; unfortunately, the timing of listing is not something we can control. However, after the official launch was announced, we did see ELA's strong performance, and the price increased by around 20% within a few days. Also, demand for ELA is strong on Coinbase. Within a few days of the launch of Coinbase, ELA's trading volume surpassed $1 million, which is more than 10 times more than all other exchanges combined! 6. CRC recently reached a cooperation with Kairon Labs, a well-known market maker in the industry, so are there any long-term plans for Elastos (ELA) market performance? Can you share your thoughts? By partnering with high-quality professional market makers that have adapted well to various unique market dynamics and digital assets, Elastos can provide individuals and organizations that want to participate in the Elastos ecosystem with more stability, sustainability, and mobility...

1493d agody zhang#3AC #BlockFi #Carrier #Celsius #Coinbase #DeFi #ELA #Elastos Essentials #Fakhul Miah #Gamefi #Hive #LUNA #metaverse #NFTs #SocialFi #Voyager #Yilaiyun #Jia Wei #Morgan Stanley #Han Feng

Forging the soul of WEB3 is the greatest opportunity in the future

Author: Han Feng Source: Han Feng Blockchain Studio, Wudaokou School of Finance, Tsinghua University This article is Han Feng's speech at the Shuzang Web3 conference. Han Feng: Hello everyone. Today I'm at Tsinghua Science Park. Since I can't go to Shenzhen, I was invited by the Gem Director of Shenzhen Innovation University to share and exchange a video with everyone. First of all, I would like to congratulate the Shuzang Web3 Conference on being successfully held under the auspices of Shenzhen Innovation University! A few days ago, I had a conversation with Mr. Gao Hongbing, vice president of Ali Group. Yesterday, I had an in-depth exchange with Director Gem, so I also used this opportunity to discuss with you how the cryptocurrency industry should develop in the future. In fact, we only discussed one topic, which is how to make Zhang's three industries develop sustainably. Of course, everyone knows that this industry experienced last year's bull market. Of course, now it's a bear market. Various events have occurred, especially those that have just entered the industry. I feel that the industry is particularly unstable. Today, this project came out, and it hasn't been around for a month or two. If any industry wants healthy long-term development, this is impossible; it must find a really good scientific development model. Of course, this industry has been around for a long time. I joined the industry in 2013. This industry has a great wealth effect, so let me not mention it. It is very appealing to everyone, including me. In 2017, I was also basically able to have freedom of wealth by relying on it. However, it is true that there has been no particularly good solution to the problem of sustainable and stable development for a long time. We are all exploring, including Vitalik, the so-called V God. He probably wrote an article with Microsoft Research experts in May called Finding the Soul in Web3, and is also discussing this issue. I read it at the time and combined it with my own CreDA practice, and I quite agree with him. What is his most basic opinion? He said that the reason why the industry seems so unstable, full of ups and downs is clear, because the industry currently only has digital assets that can be traded, such as all kinds of coins, including NFTs, so basically the main act of everyone entering is hype, triggering all kinds of excessive speculation and creating many bubbles, not to mention it. Of course, there is a huge wealth effect in the middle. We have all experienced situations hundreds or even thousands of times, but it is seriously unstable, because it can only be speculative and hyped up, excessive financialization, according to God V. Why is this happening? I think they did some basic analysis, which is in line with our past analysis and practice, including developing a decentralized credit system like CreDA. The conclusion is basically the same. In other words, in the Web3 world, decentralization is currently emphasized, but there is a lack of creditworthiness, or entities that lack responsibility. In real life, we know that without the concept of a legal representative, no one can actually sign a long-term cooperative commercial contract. If the two encounter a deal, they can only buy and sell, excessive hype, and excessive speculation. Exactly, in real life, there are credit subjects like this. If we have a legal representative and an ID card, we can have long-term economic cooperation. There are many longer-term economic credit practices, not to mention, including being able to issue credit cards, credit loans, and unsecured loans. Therefore, the traditional form of business in the economic world is much richer and more stable than today's cryptocurrencies. Vitalik and they came to the conclusion that we should forge the soul in Web3. In fact, one of the easiest explanations for soul is a decentralized ID. You have a DID status, but it's not a central agency that sent you, not a government that sent you, but rather a DID that conforms to W3C Microsoft's standards. Of course, Laiyun has already developed it. Elastos is the dress I'm wearing. At the same time, Yilaiyun's DID also has a major feature. Joint mining of more than half of Bitcoin's computing power was introduced to protect this DID. Because since it is a decentralized mechanism, it requires computing power protection, otherwise it can be easily hacked and tampered with by hackers. If your DID is hacked in the future, the consequences will be very serious; if a new WEB3 economy is established in the future. Of course, after having DID, you still have to bind all kinds of credit to DID. Most directly, you need to bind to all kinds of wallets you have in the past and use the assets and transactions in your wallet, including what is now called a social graph, to connect with other wallets. Because if you frequently trade with a few wallets, chances are that you are friends, this is a decentralized model that proves your social relationships. Using this on-chain data, you can first establish basic credit and bind it to your DID. This is the beginning of a WEB3 soul, and the whole process is decentralized. Of course, as CreDA has scanned 80 million wallet addresses,...

1503d agody zhang#WEB3 #Yilaiyun #Ethereum #Bitcoin #Han Feng

Coinbase is considering launching Elastos (ELA) in Q2 2022

Comparatively, Coinbase's official asset roadmap from April 1 to June 30, 2022 shows that Elastos (ELA) has been included in the list to be considered for listing; others to be examined include Binance USD, BitDAO (BIT), Gemini USD (GUSD), etc. Until the official launch of the platform, tokens will not be transferable or traded. Coinbase said that depositing these assets into a Coinbase account before an official announcement could result in permanent loss of funds.

1578d agoWendy#Coinbase #ELA #elastos

Former Morgan Stanley Global Vice President Fakhul Miah becomes CEO of CreDA

According to Cointelegraph, Credit Data Alliance (CreDA), a leading decentralized credit rating service, announced the appointment of Fakhul Miah as the new CEO. Fukhul Miah served as the global vice president of Morgan Stanley. In addition to traditional banking experience, Miah played an important role in establishing crypto futures for Morgan Stanley in 2017, including operating processes, product architecture, risk modeling, and margin methods. He also serves as an election board member of the Elastos Cyber Republic decentralized autonomous organization. Born and raised in east London to immigrant parents from Bangladesh, Miah and his 12 siblings have seen firsthand the challenges faced by families unable to access traditional banking services. This made him an active advocate for financial inclusion, and ultimately attracted him to decentralized finance (DeFi) and CreDA. Miah said, “The implementation of credit scores has the potential to impact billions of people around the world who are unable to access banking services. This is a promise of decentralized finance since its inception. The reality, however, is that excessive collateral and lack of trust are creating new barriers. CreDA changed that by using the transparency and immutability of blockchain to analyze a person's assets and behavior, build a trust score, and allow lenders to offer low or unsecured loans.” CreDA modeled on traditional consumer credit institutions and introduced the concept of personal credit scores to the DeFi ecosystem worth more than $250 billion. More importantly, the agreement also has the potential to provide a trust architecture for the relatively young and unstable MetaFi ecosystem, which includes emerging fields such as DeFi, GameFi, and SocialFi. Miah said, “The DeFi landscape is rapidly evolving, but one factor is still missing — trustworthiness. The CreDA protocol enables DeFi and other Web3 platforms to model the risk profile of their user base and provide personalized rates and services, making them more competitive compared to industry peers.” As part of a partnership with cross-chain DeFi lending platform Filda, CreDA recently announced a proof-of-concept lending feature through its platform. Through Filda, CreDA provides exclusive loan interest rates to CreDA users, who mint their crypto credit scores as credit NFTs, which allows them to obtain leveraged loans and low collateral or unsecured loans directly within the CreDA platform. How Creda works Creda allows users to connect their wallets, mint credit NFTs, and borrow at industry-leading interest rates, all within the same platform or on partner platforms. CreDA uses CreDA Oracle to provide on-chain credit ratings, and CreDA Oracle uses artificial intelligence (AI) to check users' assets, historical transactions, and behavior in the cryptographic field across multiple blockchains. This data is used to calculate credit scores, which are then minted into secure credit NFTs. Credit NFTs enable users to unlock preferential rates and rewards. The Filda partnership allows users to obtain leveraged loans and low collateral loans or even unsecured loans based on their crypto credit scores. This score represents the user's ability and willingness to repay loans, reduces Filda's risk, and rewards users for good on-chain behavior. A major focus of CreDA is to ensure a safe and secure experience for users, and CreDA recently underwent a strict security audit by Certik, a leading blockchain security organization. For more information, welcome to join: Bitu Discord Community https://discord.gg/QSvv7MZ2tz比推 TG: https://t.me/BitPushCommunity作者：Amy Liu Image Source: Internet This article is from Bitui, link to the article:, reprint the source... https://www.bitpush.news/articles/2171418

1670d agoamyliu19#CreDA #Fakhul Miah #encryption #Morgan Stanley