Last updated on November 4th, 2024 at 06:18 am
The crypto industry continues to grow steadily. The number of users of USDT‘s on-chain exceeded 330 million, while WhiteBIT surpassed 5 million users. But in today’s crypto news digest, we are talking about something else: MANTRA Chain adds Google Cloud as its main validator, and Chainlink announces a major update. Are you interested? Read on to find out more.
Elon Musk Announces Plans to Monetise Video on Social Network X
On 29 October, Elon Musk, a billionaire and owner of the social network X, confirmed that his team is working on monetizing videos on the platform. According to some users, the emergence of such a feature will allow YouTube to compete with content hosting.
The entrepreneur disclosed the information about the monetization work while commenting on one of the posts on social network X. The original post claimed that the platform should introduce such a feature to compete with services that censor content. People who support this idea believe that Elon Musk’s company is free from any restrictions. In their opinion, it is on social network X that everyone will be able to publish videos on various topics and not worry about being blocked.
Musk did not specify the stage of work on the new feature, nor did he announce any deadlines for the introduction of monetization.
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Visa and Coinbase Partner for Instant Crypto Purchases with Debit Cards
Visa and Coinbase have announced a partnership to launch cryptocurrency payments via debit cards. According to Cointelegraph, this collaboration will allow Visa users with eligible debit cards to deposit and withdraw funds from their accounts on the Coinbase platform.
Customers in the United States and the European Union will now receive ‘real-time account delivery for those using an eligible Visa debit card’. Coinbase customers with an eligible Visa debit card will also be able to buy cryptocurrency on the platform and transfer funds from the exchange to their bank account in real-time, depending on the bank and region.
Yanilsa Gonzalez Ore, head of Visa Direct North America, said the partnership means that Coinbase users with an eligible Visa debit card can take advantage of trading opportunities day and night.
MANTRA Chain Adds Google Cloud as Primary Validator
Mantra has announced that cloud computing giant Google Cloud is now a validator and infrastructure provider for the MANTRA Chain blockchain, a collaboration aimed at supporting innovation in the real assets market.
As part of this cooperation, developers will receive free MANTRA testnet tokens to create decentralized applications based on the blockchain ecosystem. As part of the Real Asset Acceleration Programme, MANTRA Incubator will use Google Cloud to provide cloud loans to selected projects focused on RWA initiatives. The partners plan to launch the program in the first quarter of 2025, and developers will also receive technical support from Google web3 and AI experts.
MANTRA will cooperate with BCW Group, a company that develops web3 infrastructure and AI solutions, as a Google Cloud implementation partner.
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Chainlink Announced a Large-scale Update
The development team behind the Chainlink decentralized oracle network has unveiled a major update to the Chainlink Runtime Environment (CRE), designed to scale the platform to ‘thousands of blockchains’. In a phased upgrade, the platform will move to a modular architecture. The Chainlink node software is divided into separate blocks with their own functions (chain reading, consensus execution, etc.) protected by independent decentralized oracle networks (DONs).
Building a customized chain of operations will ensure the use of direct links between specialized DONs and the security guaranteed by the Chainlink platform. The transition to a modular architecture will provide several benefits, including:
- Use of familiar programming languages and tools thanks to a comprehensive set and intuitive command line interface
- The ability to create solutions according to your individual needs thanks to fully programmable workflows
- Full integration with offline APIs and numerous networks through the use of standardized components.
The update will be implemented in stages to ensure stable operation of active services. The team has opened registration for early access to CRE features.
Space and Time Unveils SXT Chain Testnet
Microsoft-backed Space and Time Labs has unveiled a zero-knowledge (ZK) blockchain for DeFi smart contracts called the SXT Chain testnet. The SXT Chain was created to expand data availability and is positioned to assist developers by providing a flexible data format and blockchain connectivity.
Developers can index data from major blockchains such as ZKsync and Ethereum ($ETH) using the decentralized data source of the SXT Chain. With zero-knowledge verification, SXT makes it easy to access, query, and validate data, allowing developers to use it for a variety of purposes. SXT offers sub-second ZK-verified SQL database searching that can be easily implemented in smart contracts using Proof of SQL technology.
This solution addresses a fundamental shortcoming of decentralized finance (DeFi) platforms. Historically, due to the inaccessibility of borrower credit history data, lending rates were set for all users. To enable rate conversion, lending protocols can link the credit history of a wallet in the chain to a credit score that has been verified with ZK proof via SXT’s SQL interface.
In addition, SXT will simplify ZK verification by integrating with the Chainlink Network. Chainlink’s features will enable scalable, data-driven smart contracts by allowing developers to easily link the results of SXT’s ZK verification of data to their smart contracts.
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Vladislav Hryniv
Vladislav Hryniv is a digital journalist. For several years, he has worked as a copywriter for Web3 companies, where he gained interest in the industry. Currently, he writes articles on blockchain technology, finance, statistics, and digital asset analytics for various publications.