- No products in the cart.
BEST SELLING PRODUCTS
Aave (AAVE) has announced a new project called the Lens Protocol that focuses on helping developers build social networking decentralized applications (DApps) on the Polygon blockchain.
Apart from social media DApps, the liquidity market protocol creators aim to use nonfungible token (NFT) technology along with Lens’ open-source blockchain tech to allow developers to create marketplaces, recommendation algorithms and other applications. According to Aave, this will allow users to completely own their own data and give creators new monetization opportunities.
Lens Protocol allows users to have a single Lens profile that can be used through various DApps within the Lens platform. With this, users who are able to mint Lens NFT profiles will be able to access the 50 apps that will be released on Lens Protocol at launch. To further the creation of more apps on Lens, Aave also created a grant program worth $250,000 to fund developers who wish to create applications on the platform.
Stani Kulechov, CEO and founder of Aave Companies, believes that the people are ready for a new social media experience, as demonstrated by reactions to Elon Musk’s bid to buy Twitter. Kulechov explained:
“The social media experience has remained relatively unchanged for the last decade, and much of that is due to your content being solely owned by a company, which locks your social network within one platform.”
The Aave CEO also noted that ownership over content created online is “long overdue.” Furthermore, Sandeep Nailwal, the co-founder of Polygon, agreed with Kulechov’s notion and said that Polygon aligns with Lens’ goal of powering “secure content ownership.”
Back in April, Kulechov was banned from Twitter hours after jokingly tweeting that he will be joining Twitter as its interim CEO. The ban was lifted the next day as Kulechov tweeted another joke saying that he was back as the interim CEO of the company.
The Los Angeles Times reported Friday that recently opened NFT-themed burger joint Bored & Hungry no longer accepts cryptocurrency as a form of payment for its food.
When questioned, one Bored & Hungry employee told the Los Angeles Times “Not today — I don’t know.” The individual didn’t give any indication of when the decision was made to cut crypto from the menu of payment options, nor did they know if crypto payments would be making a return.
Bored & Hungry initially launched back in April of this year. At the time, one worker told the Los Angeles Times that the majority of its customers didn’t seem to care about crypto payment options, also noting that customers were generally indifferent to “the restaurant’s fidelity to the crypto cause.”
Another Bored & Hungry restaurant patron told the Los Angeles Times “People want to hold onto their ethereum. They’re not gonna want to use it.” Customer Richard Rubalcaba said, “I don’t know how [crypto purchases] would work, with the crash.”
Many of the restaurant’s patrons stated that they are not hardcore crypto enthusiasts, and simply frequent the establishment for the food. Customer Jessica Perez said, “We rate this up there with In-N-Out, maybe even better.”
Changes to venue’s payment policies seem to fall in line with the overarching crypto and macro economical meltdown transpiring across the globe. But never fear, hungry crypto users! You can still visit Chipotle, which began accepting crypto payments earlier in June via Flexa. Several countries are facing relentless regulations and scrutiny and there are issues of contagion in the crypto market.
Cointelegraph reached out to Bored and Hungry owner Andy Nguyen for clarification on the restaurant’s crypto acceptance, but did not receive a response prior to publication.
The Solana (SOL) team has brought mobile phones to Web3 after revealing Saga, Solana’s Android mobile device that will go out with the project’s latest stack for Web3 developers, the Solana Mobile Stack. The community welcomed the new development with various reactions from comparing the project to Apple and Ethereum (ETH) to bringing up concerns over Solana’s network outages.
Vinny Lingham praised the move and called it Web3’s very own “iPhone moment” and thanked Solana Co-founder Anatoly Yakovenko for making it possible. Meanwhile, David Ticzon was also impressed, calling Solana the “Apple of Web3” in a tweet.
Some community members also took this opportunity to compare SOL’s progress to the ETH network. Twitter user Thesolmane pointed out that while Solana launched a Web3 phone, Ethereum stays “without innovation in years.”
In a Twitter thread, user Nathanweb3 also explained how Solana is becoming a growing threat to Ethereum. According to the Twitter user, SOL’s developers are able to grasp the shortcomings of ETH when it comes to user experience. Because of this, Solana’s team is addressing the issues and is simplifying things for everyday users. They tweeted:
but what matters is what the everyday user gravitates to.
the solana crowd is more in touch with reality esp when it comes to product development:
is this very decentralized? no.
is this ethically funded/monetized? probably not, lol.
but could your grandma use this? YES.
— nathan.eth (@nathanweb3) June 23, 2022
While many had a positive response, others couldn’t help but bring out the issue of Solana’s network outages. At the start of June, SOL’s price took a dive as the network suffered its fifth outage within the year. Because of this, Twitter user Metamaxie questioned why SOL is trying to be a phone manufacturer when it should focus on making its blockchain reliable.
Charles Hoskinson, the founder of Cardano (ADA), has also taken a dig at Solana’s newest move. According to Hoskinson, people would need to find seven of their friends in Discord to reboot the mobile phone, implying that the phone may suffer performance issues similar to the Solana blockchain.
Aside from the buzzing neologism of Web3, there is a bit less catchy but hardly less important concept of Industry 4.0, which includes the new and revolutionary drivers of the next generation’s industrial landscape. And, especially when it comes to the energy sector, blockchain lies at the heart of these technologies.
The authors of a recently published EUBlockchain Observatory report “Blockchain Applications in the Energy Sector” are convinced that distributed ledger technology (DLT) could become a key enabler technology and has a very high potential to influence or even disrupt the energy sector. This comes as a no surprise, given the five D’s of the Digital Green Shift: deregulation, decarbonization, decentralization, digitization and democratization.
The report highlights the major directions for blockchain in the sector and supplements them with the actual case studies and insights from energy market stakeholders such as Volkswagen, Elia Group, Energy Web Foundation and others.
Cointelegraph spoke to one of the report’s co-authors, commercial director of Europe, the Middle East and Africa (EMEA) region at Energy Web and a member of EU Blockchain Observatory and Forum, Ioannis Vlachos.
Vlachos elaborated on the most intriguing parts and concepts of the document, such as the granularity criterium, the importance of self-sovereign identity and the possible role of DLT in developing the non-electric energy sources consumption.
Cointelegraph: The report notes that, to this day, no blockchain/DLT solution has been widely adopted by energy system stakeholders. Why do you think this is? Could you try to answer it?
Ioannis Vlachos: The main barrier to the wide adoption of blockchain solutions by the energy system stakeholders is related to the way that energy markets are currently structured. The regulatory requirement, in most countries worldwide, for small-scale flexibility assets such as residential batteries, electric vehicles, heat pumps and others makes it possible to participate in energy markets only via their representation by an aggregator.
Considering a more direct market design where flexible assets, irrespectively of their capacity, can directly bid into an energy market will minimize their marginal costs and will promote and foster the participation of small-scale distributed energy resources (DERs) in energy markets.
This need for the direct participation of assets in markets was identified and considered to be an overarching principle in the joint report “Roadmap on the Evolution of the Regulatory Framework for Distributed Flexibility” by Entso-E and the European Associations representing distribution system operators published in June 2021, where “access to all markets for all assets either directly or aggregated” is recommended.
Blockchain technology, via the concept of decentralized identifiers (DIDs) and verifiable credentials (VCs), provides the necessary tools to allow this direct access of small-scale DERs into energy markets.
CT: How could blockchain be used to track the non-electric energy sources, such as biofuels?
IV: Blockchain technology provides the means to create a trusted ecosystem of actors, where all information exchanged between assets, systems and actors can be independently verified by means of DIDs and VCs. This is extremely important to provide the required audit trails in non-electric energy supply chains such as natural gas, green hydrogen and others.
Recently, Shell, together with Accenture, American Express Global Business Travel with the support of Energy Web as the blockchain solution provider, announced Avelia, one of the world’s first blockchain-powered digital book-and-claim solutions for scaling sustainable aviation fuel (SAF).
The report claims that the application of blockchain in the energy sector is likely to be further explored and advanced.
What are the premises for such an optimistic conclusion?
This conclusion is mainly drawn on the premise that despite the highly regulated energy environment, we have recently seen a large number of projects in the broader energy sector that use blockchain technology. They do this by either implementing use cases outside of the existing regulatory framework such as Shell’s SAF project or with the support of the national regulators and market operators such as projects EDGE and Symphony in Australia.
The EDGE and Symphony projects are supported by state government agencies, the Australia Energy Market Operato and the Australian Renewable Energy Agency, and implement an innovative approach to the integration of consumer-owned DERs to enable their participation in a future energy market based on a decentralized approach. In both projects, Energy Web’s decentralized blockchain-based digital infrastructure is used by assigning digital identities to participants and thus facilitating the secure and efficient exchange and validation of market participant data.
Moreover, we cannot neglect the fact that blockchain technologies are referenced within the European Union action plan for digitalizing the energy sector, focusing on enhancing the uptake of digital technologies.
IV: The concept of granularity refers to the need to increase the frequency of data that will allow the traceability of energy commodities. Especially in the case of electricity, moving from a monthly or annual matching of energy consumption with renewable electricity being produced in a specific location to a more granular (e.g., hourly) is considered to be the best practice since it minimizes energy greenwashing. In this respect, Energy Web, with the collaboration of Elia, SP Group, and Shell, developed and released an open-source toolkit for simplifying 24/7 clean energy procurement.
CT: Could you explain the concept of granularity, which sets the demand for blockchain in the energy sector?
CT: The report mentions a self-sovereign identity, defining it as “a growing paradigm that promotes individual control over identity data rather than relying on external authorities.” It’s easy to imagine this kind of paradigm with personal data online, but what importance does it have for energy production and consumption?
IV: The importance of self-sovereign identities (SSI) for energy production and consumption stems from the fact that prosumer’s energy data can be considered as private data [Prosumer is a term combining consumer and producer roles by one individual or entity.] Especially in the setting of the European Union and under the light of the General Data Protection Regulation, the granularity (sampling frequency) of smart metering data can be highly associated with the privacy of data. Moreover, given the fact that new business models are emerging that utilize prosumer energy data to facilitate the provision of energy efficiency and management services, empowering the prosumer via the concept of SSI to consent for the distribution, processing and storage of their energy data is more of a necessity rather than a luxury.
About Google Data Analytics Professional Certification | Includes my opinion
SteelSeries Nova Pro Wireless review: it nearly does it all
Location, celebrity partners unveiled for $150M sports destination coming to Miami-Dade
Everything You Need to Know About the Solana Blockchain and NFTs
‘Selling Sunset’ Star Christine Quinn And Tech Entrepreneur Husband Have Plans To Disrupt The Real Estate Industry
22 Rising NFT Artists to Watch in 2022
NYC Amazon Workers Vote Against Unionizing; Warren Buffett Reveals Big Investments | NTD Business
2B3D, Metaverse for Veteran PTSD Therapy, Sends Gratitude