Singapore’s national goalkeeper, Hassan Sunny, has been appointed as the Chief Security Officer and spokesperson for HTX Global and TRON. The announcement was first made by Justin Sun on social media. Drawing parallels between Sunny’s role on the football field and his new position, Sun expressed confidence that just as Sunny defends the goal line […]
Bitcoin News
xDay Event Day 2: Google, Amazon, Binance Labs, And A Chat With Sunny Aggarwal
In the next three days, our team at NewsBTC will cover xDay 2023, an event organized by MultiversX in the Palace of Parliament, Romania. Formerly known as Elrond, the project rebranded in 2022 and focused on the Metaverse, scalability, and global adoption by simplifying users’ access to crypto.
Summarizing The MultiversX Event, Day 2
In the early hours, the CEO and Co-Founder of MultiversX, Beniamin Mincu, announced a partnership with big tech giant Google Cloud. The company pledged to help the community of MultiversX builders, and Google Cloud will secure all data running on this blockchain.
The community celebrated the announcement, followed by other major partnerships, including Axelar, to improve its interoperability with Telekom, which will become a validator for MultiversX.
Other representatives from big tech companies, from Amazon Cloud to Deloitte and Tecent, spoke during the event about Gaming, ways to drive growth and adoption, and the convergence of Gaming, the Metaverse, and Web3.
From the crypto space, Alex Odagiu from Binance Labs and Danilo Carlucci from Morningstar Ventures discussed the importance of data, and the different ways crypto investors are using it to make investments during bull and bear markets.
Overall, attendees were impressed with the event’s capacity to gather a big crowd during a bear market and the partnerships announced throughout the day. The sentiment was optimistic about the future of blockchain and crypto.
#MultiversX, the blockchain tech built for large-scale solutions.
Combining AI, Big Data, Gaming, the Metaverse and beyond.
All unfolding at unprecedented speed. pic.twitter.com/eh431p4x8R
— MultiversX (@MultiversX) October 20, 2023
Interview With Sunny Aggarwal, Co-Founder At Osmosis Labs
During the event, we got to chat with Sunny Aggarwal, a co-founder at Osmosis Labs, the company behind the decentralized protocol running on Cosmos. One of the most prominent decentralized finance (DeFi) protocols in this ecosystem, the DEX has processed over billion in trading volume, according to data from Token Terminal.
Aggarwal is a validator for MultiversX, the “only non-Cosmos” network he validates. In an interview with our team, the Osmosis Co-Founder spoke about the early days of MultiversX, when the project was known as Elrond Network.
Aggarwal was one of the first to see the Elrond (MultiversX) Whitepaper and has been helping as a “non-official” external consultor ever since. During the interview, the Cosmos Co-Founder spoke about the passion and the drive behind MultiversX.
Speaking about the factor that makes MultiversX stand out from other blockchains, he mentioned their flagship product, xPortal. The “SuperApp” tries to offer users finances, social interactions, and payments, all using a single app. Aggarwal said:
I actually think xPortal was a big one. I remember they showed me, it wasn’t called xPortal back then. It had a different name, but when they showed it to me back in 2020. At the time, it was the best mobile wallet I’ve seen. I think the work that they did around the UX and when you log in, you get a username right away. And I think that they were very early on understanding how the UX has to be done. So I think that’s a very big interesting (…).
During the event, the team at MultiversX has been trying to remove “Web 3,” “crypto payments,” and similar words from their narrative. The team believes just “Web,” or “money,” is a better message for the users. Aggarwal agrees with the message, which heavily focuses on adoption:
I think the users don’t care about how the technology works. I think they care about what it does, but also they want to know, telling someone something is a cryptocurrency is not what matters, what matters is telling them it’s secure from hacks or that it’s private. That’s what matters, right? You have to sell the features that cryptocurrency gives you without necessarily having to know (the technology).
Cover image from MultiversX, chart from Tradingview
Cryptosphere Veteran Sunny King Creates New Blockchain Database Platform
Sunny King, a well-known anonime figure in the crypto industry, has returned to lead a new project called VEE as their chief architect and bring a database platform for blockchain applications.
The VEE team is currently on a promotional spree having visited Korea, Japan, Singapore, Hong Kong and will go over Europe in February.
The 5th generation of Bitcoin
Short for Virtual Economy Era, VEE is an open source blockchain platform that will empower developers to build applications. It has a modular structure, which supports multiple consensus algorithms and a secured network that helps both in-chain and cross chain transactions.
Aside from being a platform, VEE also has a blockchain database cloud feature (claiming to be blockchain 5.0) allowing not only developers but also corporations and industries to create a decentralized and scalable database. To boost the blockchain incorporation of businesses with cloud platforms such as banking, asset management, and trading, VEE will also offer custom created blockchain database options.
Unlike Bitcoin’s Proof of Work (PoW) mining mechanism, the blockchain fuelling the platform is based on the Proof of Stake (PoS) algorithm. Sunny King and his team were one of the frontrunners to utilize PoS to make the blockchain more energy efficient and develop Peercoin in 2012, which was the world’s first Proof-of-Stake coin. While PoW requires miners to prove a certain level of computational work, PoS wants provers to show the possession of a certain amount of money. This means the one to create the new block is selected in a deterministic way, depending on their wealth, also defined as stake.
Developers and other users of the VEE platform will be able to process transactions and run applications through VEE coins, the native currency of the platform. The ICO is expected to be announced soon. The company plans to provide a wide range of app development tools to accelerate the building process. Though the platform’s public API is free of charge for app developers, there will be a hosting fee. Apart from management costs, this will also cover the maintenance and upgrade of the distributed database.
The King has returned
Being the founder of Peercoin and Primecoin, VEE’s chief architect Sunny King has a long history of developing blockchain based systems.
“The impact blockchain technology would bring to the world could be even greater than those of the Industrial Revolution.” says Sunny King explaining how private property has been the foundation of human civilization until now. “With these visions, we have termed this new economic era the Virtual Economy Era.”
It might be still in the early stages, but VEE hopes it will be able to bring a platform to the blockchain world which will host tens of thousands applications and accommodate millions of users.
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