Crypto Industry Updates: June 12-13, 2024
Movement Labs Launches “Battle of Olympus” Hackathon
Movement Labs has announced the “Battle of Olympus,” an innovative hackathon aimed at driving the growth and adoption of Movement, the first modular network of Move-based blockchains. The hackathon will take place from July 17 to September 17 as part of the “Road to Parthenon” initiative. This initiative is designed to foster a robust ecosystem on Movement Labs’ eventual mainnet. Participants will engage in a gamified structure, earning points and rewards as they progress.
McLaren Data Tracker on Minima Blockchain to Prevent Race Car Cheating
Minima, which describes itself as the only blockchain light enough to run entirely on mobile and device chips, is collaborating with Influx Technology to integrate a data tracker into a McLaren GT4. This system aims to enhance racing performance and prevent cheating by logging over 20 parameters, such as vehicle ignition timing, braking, oil pressure, engine temperature, and more. The DePIN Data Logger captures this data in real-time, with Minima’s blockchain securing the hash of the data to prove its integrity. The data itself is stored on the device or in the cloud, independent of validators’ permissions, allowing any IoT device to operate a full node and verify the data.
Polygon Labs Spinout of ID Solution as ‘Privado ID’
Polygon Labs has completed the spinout of its ID solution, now known as “Privado ID.” This protocol-agnostic design from the Iden3 Protocol and Polygon ID team is set for expansion beyond Polygon networks. Privado ID is forming strategic partnerships with on-chain and institutional organizations, including several multinational banking and financial service companies. These collaborations aim to establish interoperable and compliant identity frameworks, leveraging Privado ID’s verifiable credentials for permissioned financial transactions.
Graph Foundation Completes ‘Sunrise’ Initiative
The Graph Foundation has achieved a milestone in fully decentralizing Web3’s data layer through the “Sunrise” initiative. This marks the protocol’s maturity, moving away from a centralized hosted service. The initiative enables subgraph developers to upgrade seamlessly to The Graph’s decentralized network, with hosted service endpoints no longer available after June 12. A Sunrise Upgrade program is available until June 20 to assist developers in this transition.
Livepeer.AI Launches Grants Program for Generative Video Innovation
Livepeer AI, affiliated with the decentralized video-streaming network Livepeer, has initiated a three-month grants program to support generative video innovation. The program offers $20,000 grants and an additional $20,000 infrastructure budget for AI processing. This support aims to help AI projects scale by alleviating the high costs associated with AI processing. Applications are open on a rolling basis, with existing projects integrating generative video into their products encouraged to apply.
Conclusion
These developments reflect the ongoing innovation and expansion within the blockchain and cryptocurrency sectors, from enhancing blockchain security and performance in diverse applications to fostering community-driven growth and development. As the industry continues to evolve, these initiatives underscore the importance of collaborative efforts and technological advancements in driving the future of decentralized systems.
