17 days ago • cryptodaily
Zebec's Modular L3 Nautilus Chain Debuts on Mainnet, Paving the Way for the Future of DeFi and Continuous Payments
New York, United States, May 24th, 2023, ChainwireFollowing months of battle-testing by partner projects, developers, and community, production-ready Nautilus Chain graduates from testnet.Zebec, a pioneer in streaming finance, announced today the launch of Nautilus Chain - soon to be Zebec Chain - on mainnet, an important milestone in building its continuous payments infrastructure and global ecosystem. The first of its kind as an L3, Nautilus Chain offers the fastest EVM environment in web3 capable of parallel transaction processing, combining the speeds of Solana with the stability and functionality of EVM-based Solidity smart contracts, paving the way to the next generation of DeFi and consumer applications with a continuous stream of transactions or payments.Nautilus Chain’s settlement layer is currently built on Solana node, its execution layer on Neon EVM and Solidity smart contract, with data availability hash stored off-chain in order to keep Nautilus’ modular blockchain architecture. With plans to transition settlement layer to optimistic roll-up and data availability stored on layer 1 chains such as Etherium, BSC or Bitcoin to further maximize throughput while remaining stable and reliable to support high-throughput payment applications such as payroll, DeFi applications, and on-chain gaming.The mainnet upgrade brings over 80 projects, such as Coral Finance, Witnet, and PoseiSwap to name a few, with dozens more in the process of onboarding and a track record of seamlessly processing over 40 million transactions on testnet to date."Zebec is helping to create a future where money is able to move more freely; giving individuals, businesses, investors, and teams faster and easier access to funds and tokens," said Sam Thapaliya, Founder of Zebec. "The launch of Nautilus on mainnet is another breakthrough on the path towards this vision."Key features of the Nautilus ChainHigh ThroughputThrough parallelizing transactions instead of processing them linearly, Nautilus delivers an initial TPS of 2,000 with much higher rates soon to come.Developer-friendlySolidity developers are able to build high-throughput applications in an EVM environment. While the chain's modular structure supports customization and gives developers control of the tech stack — or chain stack — in building dApps. The chain is highly interoperable and extensible and, with app-specific rollups, enables projects to strike the perfect balance between decentralization, throughput, performance, cost, and efficiency.ReliableThe high speeds and performance of the Nautilus chain, because it is a sovereign rollup, do not compromise the overall reliability and security of the infrastructure. Its robust design ensures optimal uptime and resilience, even under the most demanding conditions.Built for the real worldWith its core innovation in performance and security, Zebec’s technology has transformative potential in the world of traditional finance, blockchain adoption and smart contract-based digital financial applications."Zebec’s progress with Nautilus Chain development has the potential to bridge the gap between traditional finance and web2 payroll applications and the emerging web3 ecosystem." - said Steve Chen, Head of Blockchain Development for Nautilus"By harnessing the unparalleled speed, security, and interoperability of Nautilus, Zebec’s technology is poised to revolutionize traditional finance, bringing the benefits of blockchain technology to mainstream industries. As we continue to explore the potential of Zebec’s L3 chain, we foresee a future where seamless integration between web2 and web3 applications leads to the eventual replacement of conventional financial systems with blockchain technology and creating a more inclusive and efficient global economy."- Chen continued.As Zebec continues to innovate and expand its ecosystem, it invites developers, companies, and projects from around the world to join it in creating a more connected, efficient, and accessible financial future.About ZebecZebec enables real-time and continuous streams of payments and financial transactions for payroll, investments and more.Founded in 2021, with investments by Circle, Coinbase, Solana Ventures, Breyer Capital, Republic, and Lightspeed Venture Partners among others, Zebec services hundreds of companies, running thousands of continuous payment streams and bringing the blockchain to everyday lives.For more information about Zebec: Official Website | Twitter | Discord | TelegramAbout NautilusNautilus is a high-performance modular blockchain built for real-world DeFi and Web3 applications delivering high speed and low cost of processing transactions within a highly secure and stable decentralized system.For more information about Nautilus: Official Website | Twitter | TelegramContactElena [email protected]
18 days ago • cryptodaily
Legendary fashion photographer Chen Man chooses Grimes as her muse for her first NFT collection exclusively on LiveArt
New York, NY, May 22nd, 2023, ChainwireLiveArt’s Chen Man release is in partnership with iv Gallery, a pioneer in the Web3 space with $60m in art NFT sales to dateWorld-renowned photographer Chen Man features Grimes in an iconic NFT collection "Silent Noise: Episode 01" on May 24th at 3pm UTC exclusively on LiveArt, the global Web3 platform for art and culture founded by Sotheby's and Christie's art market veterans and backed by Binance Labs and Animoca Brands. The collection is offered exclusively on https://chenman.liveart.xyz.Chen Man, a contemporary photographer and visual artist whom the New York Times called “The Chinese Annie Leibovitz” has created a unique visual language that revolutionized fashion photography in China. Over the years, Chen Man has continuously collaborated with world-leading magazines, including Vogue, Elle, Harper’s Bazaar, i-D, Muse, and more. Chen Man's works have entered permanent collections at Victoria & Albert (V&A) Museum in London and Asian Art Museum in San Francisco. Chen Man’s works are collected by many high-profile collectors, with prints selling for up to $25,000. In April 2011 Chen Man had a solo exhibition at Beijing Today Art Museum followed by another solo exhibition in Museum of Contemporary Art Shanghai. Chen Man’s muses include Rhianna, Miranda Kerr, David Beckham and Grimes. Louis Vuitton, Gucci, Dior and most of the major fashion houses have partnered with Chen Man.Chen Man has transcended the fashion world to become an influential contemporary artist. She infuses the legacy of fashion photography with our contemporary digital reality, creating sublime images that transform our perceptions of beauty, fashion and identity.LiveArt is introducing Chen Man to the global Web3 audiences with the multi-chapter “Silent Noise” NFT series consisting of highly collectible artworks, with an underlying theme of humanity’s and AI’s future, details can be found on LiveArt, accessible at https://chenman.liveart.xyz.For her genesis digital collection, to be released on May 24th on LiveArt, Chen Man has chosen an iconic shoot with Grimes entitled “The Last AI Robot On Earth” shot the day before Grimes gave birth to X AE A-Xii. Both Grimes and Chen Man share a passion for the study of AI, its origins, and its possibilities. This shared passion fuels the underlying theme of Chen Man’s genesis Web3 project, a multi-chapter experiential deep dive into the imagination of one of the 21st century's most important artists.“This NFT collection has allowed me to have more experimentation with photography. I am much more free to impose my own artistic vision into the genre, to push the limits of photography without any constraints. Photography is a fantasy, it allows one to dream, it allows artists to create new worlds. And in creating new worlds we transform the way we think about ourselves,” says Chen Man.“Just as Beeple carved a path in the Web3 art world for digital illustrators, Chen Man is doing the same for photographers that wish to build a collector base for digital works in Web3,” says Vincent Harrison of iv gallery.Chen Man's mission is to create an interactive, safe, inclusive, and engaging experience for her audience as they embark on this journey of discovery and adventure with her. Each “Silent Noise” drop will coincide with multiple chances to gain $ART token rewards, unique 1/1 works, and even attend a photoshoot with Chen Man. As always, LiveArt will be offering additional rewards to its X Card holders.A few fortunate collectors will have the chance to be immortalized in the second chapter of this epic journey, “The Memory Brick”.As AI is developing rapidly, human memory is at risk of being manipulated, tampered with, distorted, and even erased. “The Memory Brick” will combine physical/digital art and social commentary as a museum exhibit based around recording and storing the last biological memories.“This is one of the most innovative, complete, and well-thought-out projects we've seen – plus it has rockets, AI, and the Musks, who are tech royalty. The buzz is off the charts, I think it will be pretty tough to grab one,” says Boris Pevzner, CEO of LiveArt."Silent Noise: Episode 01” will be offered as a limited edition of 500 NFT's at $100 each, to create an affordable, attractive entry level into the Chen Man Universe. It will be available exclusively on LiveArt, accessible at https://chenman.liveart.xyz.About LiveArtFounded by Sotheby's and Christie's art market veterans and backed by Binance Labs and Animoca Brands, LiveArt is the global Web3 platform for art and culture. LiveArt blends AI and blockchain with intimate knowledge of the art market to bring exclusive Web3 collecting experiences to a global audience. LiveArt's $ART utility token powers the LiveArt Protocol that drives value for the LiveArt ecosystem through membership and loyalty programs for the communities of LiveArt and its partners.Official Website | Twitter | Medium | Instagram | Link3 ContactCEOBoris [email protected]
22 days ago • cryptodaily
XRP Surges 55% QoQ, Outpaces Overall Crypto Market
A recent Messari report reveals Ripple’s XRP surged by over 55% in Q1 2023, outperforming the overall cryptocurrency market.
According to a report by Messari, Ripple’s XRP outpaced the overall crypto market in Q1 2023, having grown by over 55% quarter-on-quarter (QoQ). Messari revealed XRP’s market capitalization increased from $17.4 billion on January 1 to an impressive $27.4 billion on March 31, representing a Q1 surge of 59.9%. While XRP’s market cap grew by 59.9%, its price surged by 55% during the first quarter.
The overall cryptocurrency market only observed an increase of 46% during the same period.
XRP started the year at $0.35 but gained immensely during a market-wide rally to reach a high of $0.43 on January 23. The asset’s price, however, faced resistance at this price and ended January with an increase of 19.71%.
Ripple’s native token, however, declined in February to a price of $0.36 but closed the month off at $0.37. XRP witnessed a decline of 7.27% during February.
XRP Moved in March
XRP moved with strong bullish momentum during March, registering an overnight growth of 20% on March 22. Ripple’s XRP was on its way to hitting its very bullish target of $0.50 but ultimately fell short, reaching a high of $0.49.
The asset gained on the back of the US banking crisis and anticipation of an interest rate hike by the US Federal Reserve. The price further grew as speculation circulated that Ripple’s case with the SEC would soon come to an end.
XRP was on track to end March with a bang when it soared to a 10-month high of $0.58 on March 29, having witnessed a solo run of 56% in just two weeks. The asset fought off a few bearish attacks to close March at $0.54. March’s rally saw XRP gain 43%, ending the first quarter with a price increase of 55%. Against the backdrop of its stunning Q1 growth, Ripple reported that it sold over $361 million worth of XRP tokens during the first three months of 2023.
Q2 has not proved too profitable for XRP yet, which, at the time of writing, exchanged hands at $0.46.
Things Are Looking Up for Ripple
Ripple had a victory this week in its ongoing legal battle against the SEC. A court denied the SEC’s request to seal documents related to former SEC official William Hinman’s statements about Ether. Hinman, the former director of the SEC’s Division of Corporate Finance, delivered a prudent speech in 2018, suggesting that Ether was not a security.
Hinman’s statements are significant to the case as they provide a precedent for a digital asset like XRP.
Ripple further announced it made a $250 million acquisition of Metaco – a well-known crypto custodian. Seen as a positive sign for the future of both Ripple and Metaco, the move sees Ripple take on sole responsibility at Metaco while still allowing current CEO Adrien Traccani to manage operations independently. Traccani has been instrumental in getting Metaco where it is now.
Customers would benefit significantly from this deal, says Monica Long, the President of Ripple:
Adding these capabilities to Ripple’s already growing product solutions means we can continue to support customers as they look to embrace the true potential of crypto and blockchain in real-world applications.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
31 day ago • cryptodaily
Ex-Coinbase Employee Sentenced To Two Years For Insider Trading
A former Coinbase employee has been sentenced to two years in prison after pleading guilty to charges of insider trading.
The sentencing was carried out by US District Judge Loretta Preska, who sentenced Wahi in the Manhattan Federal Court.
The Insider Trading Case
Ishan Wahi was arrested in 2022 and charged with insider trading after it was discovered that he was providing his brother and another individual, Sameer Rahmani, with insider information about upcoming listings on Coinbase. According to authorities probing the case, Wahi’s brother and the unnamed individual made over $1 million between June 2021 and April 2022, thanks to information given by Wahi.
During the hearing, Judge Preska stated that Wahi’s scheme involved “massive abuse of Coinbase’s trust.” The judge added that Wahi and the co-defendant’s attempts to cover up their actions showed they knew they were wrong in carrying on with the scheme. The brother, Nikhil Wahi, earlier pleaded guilty to a charge of wire fraud conspiracy and was sentenced to 10 months in prison. Meanwhile, Ramani has evaded the authorities thus far.
Wahi Expresses Remorse
At the hearing, Ishan Wahi expressed regret and remorse over his actions and their impact on friends and family, several of whom were in attendance in court. Wahi stated during the hearing that he had made a huge mistake, one that would follow him for the rest of his life. Noah Solowiejczyk, the assistant US Attorney, contended that Wahi’s actions were not a one-off mistake and instead were a stream of tips to his brother spanning over ten months.
Wahi also asked the court to give him a sentence no longer than his brothers and cited examples of other insider trading cases that resulted in little or no prison time for the people involved. However, prosecutors called for Wahi to be jailed for over three years to deter other individuals from misusing corporate information. Currently, prosecutors are able to charge fraud in cases where deception was utilized to seek financial gain, regardless of the type of asset involved.
This allows the United States Justice Department more leeway to go after any crypto-related fraud than its civil counterpart, the United States Securities and Exchange Commission. The SEC is limited to monitoring the securities markets. In several of its lawsuits, the Securities and Exchange Commission, including one filed against the Wahi brothers, stated that most digital assets are securities. Court papers have shown that the SEC and Ishan Wahi had reached a settlement, while Nikhil Wahi is in talks to reach a settlement.
Second Crypto-Related Insider Trading Case
This is the second case related to cryptocurrency insider trading brought by the United States Department of Justice (DOJ). The first case resulted in a guilty verdict and involved the former head of product at OpenSea, one of the most prominent non-fungible token (NFT) platforms. The guilty verdict was reached on the 3rd of May when Nate Chastain was convicted of wire fraud and money laundering. Chastain used insider knowledge to determine which NFTs were about to be listed on the OpenSea platform, making significant profits in the process. While Chastain has not been sentenced as yet, he faces a maximum prison sentence of 40 years.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.