At the time of publication, Bitcoin is trading at $57,085. Meanwhile, the second-largest cryptocurrency, Ethereum, is trading close to $2,010. Moreover, the total market cap reached a new all-time of over $1.99 trillion.
Let’s discuss some interesting crypto news in detail.
1 – Harmony | Hypermine Collaboration to Enhance Decentralized Security & DID Technology for DeFi Ecosystem
Harmony collaborates with Hypermine to create decentralized security and DID technology for the DeFi ecosystem. Hypermine offers an authentication solution that safeguards user data by connecting digital identity with blockchain. Collaboratively, the team would create a DID registry layer on the Harmony network. This will allow Harmony network users to utilize Hypersign’s password-less authentication, verification, and athorization services. Besides this, Hypersign users would enjoy Harmony’s low-cost transaction fees.
ICON announced it was joining the Polkadot ecosystem to enhance the cross-chain network with parachains. With this integration, the top four parachain candidates in the Polkadot Ecosystem will bridge into ICON’s Blockchain Transmission Protocol (BTP). These parachains include Acala, Moonbeam, Edgeware, and Plasm. Further, this will allow ICON to directly interact with applications of all four parachains. In addition, this would allow cross-network token transfers, cross-network smart contract interactions, cross-network NFT transfers, and more.
ChainGuardians collaborated with Tidal Finance to employ NFT and DeFi insurance. Tidal Finance is a platform that offers insurance of assets and blockchains against hacking and other unethical issues. With this integration, ChainGuardians would utilize the decentralized insurance model of Tidal Finance on its entire ecosystem. Further, this will safeguard users’ funds while adding another layer of security in DeFi and NFTs. Additionally, the team also has plans to launch its initial coverage pool.
Injective Protocol partnered with Big Data Protocol (BDP) to create and trade derivatives products. This collaboration would allow users to trade data tokens with leverage, which are based on bALPHA and BDP Data Market data tokens. Besides this, users can track all data tokens in the BDP ecosystem while using one token. Additionally, users will get options to design new indices, data tracking markets, etc. Injective will create perpetual and expiry futures contracts through its EVM-compatible DeFi execution environment. Additionally, this partnership will also strengthen the BDP Oracle Market, while bridging the gap between data providers, oracles, and crypto projects.
In the last bit of crypto news for today, we have Chainlink announcing the integration of its price feeds into the Polkadot and Kusama chains. With this integration, the contracts running across the Polkadot ecosystem will get access to Chainlink Price Feeds. Moreover, these Price Feeds are more reliable, up-to-date, and tamper-proof, which will empower the new products and markets. Further, developers can utilize this to create high-performance DeFi applications on various parachains. Additionally, Polkadot developers will get access to a broad spectrum of data feeds and off-chain computations in the near future.
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