DeFI News by Thebittimes.Com

iExec, a trust layer for decentralized physical infrastructure networks (DePIN) and artificial intelligence (AI), has rolled out its privacy framework on Arbitrum (ARB), as outlined in the most recent reports shared with Finbold on Monday, September 8. With the launch, iExec has become the first and only privacy platform delivering Trusted Execution Environment (TEE) technology to Arbitrum’s $3.15 billion network. The integration offers developers a new toolkit to build applications that safeguard sensitive data and deliver innovative solutions across AI, decentralized finance (DeFi), and gaming, all without the need to manage complex infrastructures. “Launching on Arbitrum puts a powerful set of developer tools directly in the hands of builders in one of the largest DeFi ecosystems, removing the friction of TEE and enabling new classes of applications. We look forward to seeing what is built,” wrote Chase Allred, Partnerships Manager for Offchain Labs. Privacy ...

The world’s largest crypto exchange platform by volume is adding support for a new decentralized gaming altcoin, launching a price explosion. In a new announcement, Binance says it’s adding support for Nexpace (NXPC), a recently launched blockchain-based gaming ecosystem associated with the popular South Korean MMORPG (massively multiplayer online role-playing game) MapleStory. “Binance is excited to announce that Nexpace (NXPC) will be added to Binance Simple Earn, ‘Buy Crypto,’ Binance Convert, and Binance Margin.” According to its official whitepaper, NXPC is not only the token used for paying network fees over the blockchains, but it’s also designed to be interchangeable with non-fungible tokens (NFTs) in the MapleStory franchise, controlling their supply. “NXPC is designed to be interchangeable with NFTs. Players can redeem NXPC for collections of NFTs or exchange these collections back into NXPC. Under this me...

Web3 brings the next evolutionary stage of social media, promising a decentralized approach to overcome challenges related to privacy, ownership, and equitable monetization. The next iteration of the internet, Web3, is proposing a new infrastructure based on blockchain technology to build a democratic global social media ecosystem that caters to all stakeholders. Web3 adepts hope that the widespread adoption of blockchain technology will solve some of the major challenges that have plagued social media, including monopoly, privacy issues, poor monetization practices for creators, fake news, and the overall lack of control for users. While there are already great Web3 social media alternatives, they still have some pain points to address in order to ensure mass adoption of de centralized platform s. Web3 social media challenges The integration of Web3 systems into social media has a promising future, but there are several challenges that need to be addressed first. Here are a few of...

Bosch and the Peaq network explain how the future of the Internet of Things and the Economy of Things will come via decentralization and on-chain automation. The engineering and technology company Bosch is at the head of a forthcoming, blockchain-based digital mobility project with backing from the German government, which was demoed live at IAA Mobility 2023 in Munich, Germany.  At the event, Bosch, alongside its collaborators MOBIX and the Peaq blockchain , revealed a peer-to-peer parking and charging scheme utilizing moveIDs on the Peaq ecosystem. MoveIDs act as self-sovereign identities (SSIs), built on the blockchain permitting autonomous transactions between vehicles and connected infrastructure. The demonstration at IAA Mobility highlighted autonomous transactions between connected devices - in this case, a smart car, charging station, and signal for parking.  A Jaguar electric vehicle(EV) showcasing decentralized tech w/ integrated payment abilities. Source: Cointelegraph Co...

Funds will be used to support the decentralized World ID and the recently released crypto wallet World App. VC firms A16z Crypto, Bain Capital Crypto, and Distributed Global are investors in the round. Crypto project Worldcoin has reportedly raised $115 million in a Series C round led by Blockchain Capital. Funds will be used to support its decentralized World ID and recently released crypto wallet, World App.  Co-founded by OpenAI's CEO Sam Altman and built by developers of Tools for Humanity, Worldcoin aims to tackle problems stemming from the growing complexity of artificial intelligence, such as proof of personhood, in the digital age. Venture capital firms Andreessen Horowitz, Bain Capital Crypto, and Distributed Global are also investors in the round. “During the age of AI, we need decentralized , privacy-preserving solutions that can prove humanness online and empower people across the world to take control of their identity and finances. The additional resources will help...