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Investing in Tigris – Andreessen Horowitz

The traditional clouds (AWS, GCP, and Azure) are getting dated. They continue to be the standard for the vast majority of cloud workloads, of course, but they are built around a set of operational practices that were more relevant a decade ago. Lately, weve seen the rise of a number of hosting platforms that are better aligned with modern development practices.

These include Fly.io, Railway, and even front-end platforms such as Netlify and Vercel (which sometimes are built on traditional clouds). The benefits of these new platforms can be functional Fly.io, for example, has far simpler multi-region support than AWS but they also get adopted because they have better native support for modern applications frameworks and practices, and a far better developer experience.

However, storage has been a key issue for moving applications wholesale to these new clouds. Offering a robust cloud storage solution is a very complex operational and technical problem. And so, many applications adopt these new clouds for the front end, but keep the back end on a traditional cloud where there is a traditional cloud storage service like Amazon S3.

This is why Im so excited to announce our investment in Tigris, as well as the release of its globally available S3-compatible distributed object-storage service. Tigris is built to make the application developers job as simple as possible. It allows an application to write in any region, and to read in any region. Heck, you can even write confliction updates in multiple regions at the same time and Tigris will resolve the updates and give a consistent global view of the data. It truly is a global multi-master storage platform.

This is a key service for application developers who are looking to get away from the provisioning headaches and clunky interfaces of the traditional clouds. And, as a casual dev on evenings, its one Ive been hoping someone would build for years.

There are very few teams who have the background to build and run such a solution, which is why I was so excited when I ran into Ovais Tariq and the Tigris team. The Tigris co-founders ran the global storage team for Uber, and had significant experience building on FoundationDB when we first met. (FoundationDB has been used to build global object-storage systems internally at companies like Apple.) We talked at length about how now was finally the right time to build a global object-storage system given the number of new cloud platforms like Fly.io, in addition to new applications being built around Javascript frameworks on hosting platforms like Netlify and Vercel.

And so here we are, with that vision having been realized. Tigris is so simple to use, I strongly recommend you give it a try even for your evening hacking project like I do. Im certain youll not want to go back to the traditional clouds again.

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Investing in Tigris - Andreessen Horowitz

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Spain Gets $2.1 Billion Boost for AI and Cloud Infrastructure From Microsoft – Decrypt

Microsoft has announced an expansion of its artificial intelligence (AI) and cloud infrastructure in Spain, pledging an investment of $2.1 billion over the next two years. Its the company's largest investment in nearly four decades of presence in the southern European nation.

The move is a testament to our 37-year commitment to Spain, its security, and development and digital transformation of its government, businesses, and people, Brad Smith, President of Microsoft, announced on Twitter.

Microsoft will develop AI solutions to improve the governments efficiency in everyday tasks and increase the effectiveness of its cyber security applications, the company explained in an official blog post. But a major chunk of the funds will go toward the establishment of a Cloud Region with massive data centers in Madrid and Aragon.

On the Spanish side, President Pedro Snchez positioned Microsoft's investment as a nod towards the future.

Microsoft's investment in Spain is going to quadruple, reaching up to 1.950 billion euros," Snchez declared on Twitter. He expressed his gratitude towards Smith for his confidence in the Spanish economy and our roadmap for an inclusive and secure digital transformation.

Snchez also pointed out the collaborative efforts to implement cybersecurity and AI in civic administration, underlining the importance of public-private partnerships.

Microsoft said it expects to help generate 69,000 new jobs by 2030 with its cloud data centers, adding nearly 8.4 billion Euros to the countrys GDP.

Spain is a key country for cloud service providers. Back in 2021, Amazon announced its intention to invest over $2.7 billion in the country after opening its own data centers in Aragn a region that is also in Microsofts crosshairs.

This announcement comes on the heels of Microsoft's recent announcement of a 3.2 billion euro investment in Germany to enhance its AI infrastructure and cloud capacities there.

We are seeing increasing demand for AI applications in key industries," Brad Smith said at the time, emphasizing the transformative impact of AI across various sectors.

Microsoft's aggressive investment strategy in AI and cloud services also reflects its aim to strengthen its competitive position against industry giants like Google, which has also announced increased spending in AI development. With over $10 billion invested in OpenAIthe developer behind ChatGPTMicrosoft is integrating leading AI models into its suite of services, positioning itself as a frontrunner in the technological race.

By some measures, Microsoft is now the biggest company in the tech sector after nearly doubling its market value since 2023.

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Competition in the cloud: Microsoft’s unfair licensing tactics go under the microscope – ComputerWeekly.com

Microsofts hold on the global cloud infrastructure sector is on the rise, with data released in the wake of its most recent set of financial results revealing that it is gaining share at the expense of market leader Amazon Web Services (AWS).

According to figures published by Synergy Research Group in early February 2024, Microsofts share of the global cloud infrastructure market increased by two percentage points to hit an all-time high of 24% during the final quarter of 2023. AWSs share of the market, meanwhile, fell by the same amount to 31%.

There could be multiple reasons why Microsofts share of the market is growing, but its success in denting the lead of its biggest public cloud rival is being overshadowed somewhat by long-running accusations about the companys anti-competitive software licensing practices.

Specifically, it is the companys policy of charging enterprises extra for running software they already own in the Microsoft Azure cloud, as well as its levying of extra charges on enterprises that opt to run Microsoft software, such as Office 365 and SQL Server, in its competitors clouds.

It is claimed that these types of licensing tactics make it cost-prohibitive for enterprise cloud users to run their own software anywhere but on Microsoft Azure, which could potentially give it an unfair advantage when it comes to building its share of the cloud infrastructure market.

On this point, research published by data intelligence company Savanta in February 2024 highlighted the restrictive impact these types of software licensing terms have on the amount of choice enterprises feel they have when deciding which cloud to run their workloads and applications in.

The Savanta research, funded by the Computer and Communications Industry Association Europe, is based on the responses shared by more than 1,240 IT decision-makers across the UK, France, Germany, Netherlands and Spain.

Research participants were asked if they had considered switching cloud infrastructure providers, and of those who had, 40% said existing licensing terms prohibit their companies from taking on-premise licences to another vendor.

The Savanta study is far from the first time IT decision-makers concerns about Microsofts licensing tactics have arisen. The UK communications market regulator Ofcom raised a red flag about the issue in its 254-page report about the inner workings of the UK cloud infrastructure market in October 2023.

The report is the result of a 12-month investigation into the UK cloud market by Ofcom, which brought to light several instances of anti-competitive behaviour displayed by both AWS and Microsoft.

The [licensing] concerns centre on the way Microsoft sells and licenses some of its software products used by businesses these include the Windows operating system, Microsoft SQL Server and the Microsoft 365 productive suite, the Ofcom report stated.

We have received submissions that say Microsoft engages in several practices that make it less attractive for customers to use Microsofts licensed software products on the cloud infrastructure of rival providers compared to Microsoft Azure. The submissions allege that this limits their ability to compete for customers.

So much so, the market was referred by Ofcom the same month to the Competition and Markets Authority (CMA) for further probing, with the results of that investigation due to drop in April 2025.

The CMA has since confirmed the software licensing practices [of] some cloud services providers will be in-scope of its investigation to see if they reduce competition or raise barriers to entry.

As stated in the CMAs October 2023 Issues Statement document, which set out the four theories of harm its investigation will focus on, it is in particular Microsoft whose software licensing practices have been flagged as a cause for concern.

Ofcom received submissions that allege these practices may make it less attractive for customers to use licensed software products on the cloud infrastructure of rival providers, the Issues Statement said.

We [the CMA] have decided that, as part of this market investigation, we should investigate the exact nature of the licensing practices of the relevant cloud service providers, and whether these practices disincentivise customers from using rival providers and consequently reduce competition or raise barriers to entry in cloud services.

As stated in the Ofcom report, Microsoft disputes the veracity of the concerns raised about its software licensing tactics.

The company also provided a detailed breakdown, in its 14-page response to the CMAs Issues Statement document, of the changes its made to its licensing practices in 2022 in response to complaints raised by small cloud providers to the European Commission.

The Microsoft response, published in November 2023, stated: These licensing changes amounted to granting customers like-for-like economics on Microsoft software whether used on Azure or through another non-hyperscaler cloud.

These changes were made after a 2019 licensing tweak that Microsoft acknowledges inadvertently disrupted the business model of small cloud providers.

The [2022] licensing changes resolved the complaints [led by the smaller cloud providers] and apply globally, including in the UK.

Even so, research published by the non-profit Cloud Infrastructure Providers in Europe (CISPE) trade body in June 2023 claimed Microsofts licensing tactics mean European enterprises and public sector organisations are still being forced to pay billions of pounds extra every year to run software they already own in Microsoft Azure.

More than six months before going public with this research, CISPE filed a formal complaint about Microsoft with the European Commissions Directorate-General for Competition (DG Comp), in November 2022, urging the organisation to open an investigation into the firms alleged anti-competitive licensing practices.

Microsoft used its November 2023 response to the CMAs Issues Statement to hit back at CISPE for its insistence that Microsoft makes its software available to its larger cloud rivals around the world on the terms that those hyperscalers prefer. It also lightly shaded CISPE by describing it as being primarily funded by Microsofts main cloud competitor, Amazon.

The issue that CISPE and others are pursuing is fundamentally one relating to the commercial agreements between hyperscalers and therefore risks being a distraction from the broader industry-wide issues the CMA is considering, Microsoft added.

Despite being seemingly dismissive about the trade bodys concerns, news emerged in February 2024 that Microsoft has now entered discussions with CISPE to help resolve its ongoing concerns about, what it terms, Microsofts unfair software licensing practices.

In response to this development, a Microsoft spokesperson told Computer Weekly the firm continues to work constructively with CISPE to resolve concerns raised by European cloud providers.

Microsoft has shared no further details about what prompted the start of its discussions with CISPE.

Nicky Stewart, former head of ICT in the UK governments Cabinet Office and a vocal advocate for the need for a competitive cloud market, told Computer Weekly that the fact they are collaborating is an encouraging sign.

While I support the complaint that CISPE has justifiably made to the European Commission [about Microsoft], and its encouraging that CISPE and Microsoft are in dialogue, we do not yet know the outcome of that dialogue, she cautioned.

I hope and expect that both the European Commission and the CMA will continue their investigations until such time as Microsoft has put a stop to its unfair licensing practices multilaterally, without discriminating against individual cloud providers or geographies. There is no place for regulation via backroom deals.

Meanwhile, Steve Weber, a technology competition expert and professor of the graduate school at the University of Californias (UC Berkeley) School of Information, told Computer Weekly that its collaboration with CISPE could be considered an admission that Microsoft knows its licensing practices are anti-competitive.

Microsofts piecemeal, behind-the-scenes steps to placate regulator pressure are, in fact, an admission that its overly complex and discriminatory licensing practices inhibit market competition, said Weber.

Microsoft needs to explain openly, in clear and simple language, why setting different licensing regimes for different customers and competitors is a reasonable and legitimate business practice.

And the reason why these discussions need to happen in the open is because holding them behind closed doors gives Microsoft leeway to set different licensing terms for different customers and competitors.

Weber added: [This is because] any eventual solution or agreement needs to level the playing field globally for all customers and competitors not simply the ones that Microsoft chooses to favour.

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Smart Contracts Go Live on Stellar, Kicking Off a "New Era" for the Network – Cryptonews

Last updated: February 21, 2024 01:24 EST | 1 min read

The Stellar Development Foundation (SDF) has announced the successful deployment of smart contracts on the network, a development they believe will revolutionize their tech stack.

In a Tuesday blog post, the SDF revealed that the Stellar (XLM) network validators had successfully implemented the Protocol 20 upgrade, enabling the activation of smart contracts and initiating the phased rollout of their smart contract platform, Soroban.

Stellar network validators voted to upgrade Mainnet to Protocol 20, kicking off a new era for the Stellar smart contracts tech stack, which delivers a secure, batteries-included developer experience built to scale and for real-world use, the announcement read.

The introduction of smart contracts on Stellar aims to enhance the developer experience, particularly for those utilizing the Rust and WebAssembly (WASM) programming languages.

The move is expected to provide a more user-friendly environment for developers.

Soroban, the smart contract platform initially deployed to the Stellar testnet in October 2022, incorporates scalability features such as predictable fees and independent resource pricing.

The SDF emphasized that this new smart contract ecosystem would empower the creation of decentralized applications (DApps), enabling developers to build innovative protocols and applications on the Stellar network.

The deployment of smart contracts on the mainnet was delayed in January due to a bugfound in Stellar Core.

Although the SDF assured that the bug posed minimal risk, they wanted to address it before rolling out the smart contract platform to ensure the stability and security of applications built on it.

To encourage developers to embrace the Soroban smart contract platform, the SDF initiated a $100 million funding initiative in October 2022.

Over the past two years, the SDF, in collaboration with the Stellar community, has been working on developing smart contract functionality.

However, despite the recent developments, Stellars native token XLM did not witness a significant price surge.

Over the past 24 hours, XLM has experienced a 1% decline, currently valued at $0.116.

XLM has struggled to keep pace with the broader crypto market rally in 2024, remaining 87% below its all-time high of $0.875, reached in January 2018.

The cryptocurrency is among the oldest and most established blockchain projects, having been founded in 2014 by Jed McCaleb.

Before Stellar, McCaleb founded Bitcoin exchange Mt. Gox and was the co-creator of Ripple.

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Smart Contracts Go Live on Stellar, Kicking Off a "New Era" for the Network - Cryptonews

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Stacks (STX) price outperforms the market as interest in layer-2 Bitcoin grows – TradingView

STX, the native token of the Bitcoin-focused Stacks layer 1 smart contract platform, is making waves in the crypto market after posting a 400% rally since October 2023.

STX trading volume has jumped a staggering 2,600% over the same period to $437.6 million on Feb. 22. STXs performance surpasses Bitcoins BTCUSD 90% increase since Oct. 15,2023, and according to Messari, STX outperformed Bitcoin in 2023 with a 600% increase year-on-year.

State of @Stacks Q4

Key Update:

Stacks emerged as the leading Bitcoin layer, and may solidify this role with the upcoming Nakamoto upgrade and sBTC.

QoQ Metrics

- STX 199%

- Stacks revenue 3,386%

- TVL 363%

Read the report for free https://t.co/MBzi8sLg9t pic.twitter.com/zbLPvDkyrV

This year has seen a growing interest in Bitcoin layer-2 projects not only because of spot Bitcoin ETFs, which now have more than $10 billion in assets under management (AuM), but also because of their focus on Bitcoin Ordinals, which already have a $2.5 billion market cap.

Stacks focuses on Bitcoin layer 2 smart contracts

Stacks is a layer 2 network for Bitcoin designed to support the core decentralized finance (DeFi) features similar to those found within other layer 1 ecosystems such as the Ethereum network and Solana.

Stacks allows users to issue custom cryptocurrencies similar to Ethereums ERC-20 tokens and stablecoins, wrapped Bitcoin, and nonfungible tokens. Stacks also supports a decentralized exchange (DEX) and a liquid staking protocol (LSP).

The growing interest in Bitcoin layer 2s is hinged on their role of strengthening the networks value proposition (and currency) by enabling it to process more transactions.

Increasing network activity on the Bitcoin network is usually credited to the popularity of the BRC-20 token standard and Ordinals inscriptions.

STX price rallies as an upcoming Network update approaches

The STX price rally comes as the community prepares for the upcoming update known as the Nakamoto Release, which is expected to take place before the Bitcoin halving in April.

The upgrade is expected to speed up transactions and introduce a new Bitcoin-pegged token (sBTC), among other improvements. sBTC will be used by Bitcoin holders who want to participate in smart contracts and developers who want to build applications on Bitcoin.

All these developments have increased user interest in Stacks. Data from crypto analytics firm Artemis shows that the number of daily active addresses on Stacks has increased from 961 to over 4,000 over the last 90 days. Similarly, daily transactions have jumped from around 8,340 to 33,000 over the same period.

Another metric used to measure the interest of users in and how much they trust a blockchain network is the total value locked (TVL) on the platform. According to data from DefiLlama, Stacks TVL has increased by 830% from $12.35 million on Oct. 15,2023, to $114.87 million on Feb. 22.

The surge in TVL indicates a significant capital infusion into the Stacks DeFi ecosystem, underscoring investor confidence and active participation in DApps.

Bitcoins uptrend drives a rally in STX

Excitement about spot Bitcoin ETFs in late 2023 and the eventual approval by the U.S. Securities and Exchange Commission in January 2023 saw BTC price rise to a two-year high of $49,000. Similarly, STX rose to hit $2.06, the best price in nearly two years.

Recently, increasing Bitcoin ETF inflows have been driving a strong rally in the BTC price as it rose as high as $53,000 on Feb. 20. STX, again, followed in Bitcoins footsteps, gaining 85% in the last 30 days to hit a new high at $2.90.

With traders expecting Bitcoin price to continue rising in 2024 and the layer 2 Bitcoin development gaining traction, Stacks may further establish itself as one of the dominant projects in the layer 2 Bitcoin sector.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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Stacks (STX) price outperforms the market as interest in layer-2 Bitcoin grows - TradingView

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Smart Contracts: the future of efficient and transparent business interactions – NL Times

With the rise of blockchain-technologies, the world has discovered new possibilities regarding smart contracts. These automatic and automated and decentralized contracts have the potential to transform the way we manage business transactions and agreements.

In this article Coinmerce helps you explain what a smart contract is, how it works and other practical applications within various sectors. Whether you are an entrepreneur, a consumer or simply interested in technological developments, this information will help you understand the concept and potential of smart contracts.

A smart contract is an automated and decentralized contract based on blockchain-technology. It uses programming code to establish conditions and rules, after which the contract is executed autonomously without any human intervention.

Smart contracts operate on blockchain-technology, and the conditions and rules of the contract are established in programming code. When the conditions are met, the contract is executed automatically, where the parties involved rely on the cryptographic security of the blockchain to ensure the integrity of the process.

Financial transactions: smart contracts can change the financial landscape by making safer and direct financial transactions possible. They offer the possibility to bypass traditional financial intermediaries and create trust in the financial system.

An example of an application of smart contracts in financial transactions is peer-to-peer (P2P) loans. Instead of being dependent on a traditional bank, individuals can take out loans directly with each other through a smart contract. The conditions of the loan are set in the programming code and when all conditions are met, the loan amount is automatically transferred to the borrower.

Another example is automatic payments. With smart contracts payments can be performed automatically when certain conditions are met. For example, when leasing a car, the owner can be paid each month automatically as long as the renter meets the payment commitment. This minimizes the risk of non-payment and saves time and administrative costs.

Supply chain management: smart contracts can improve the efficiency and transparency of the supply chain management. Traditional supply chains are often complex and may involve trust issues and delays regarding payment processing.

An application of smart contracts within the supply chain management is improving the ability to trace products. With the help of blockchain-technology every step in the supply chain can be documented and verified. This creates trust and transparency for companies and consumers. For example, when tracing food products, smart contracts can give timely mentions in case of food safety issues.

Another example of smart contracts in supply chain management is the automatization of payments to suppliers. Smart contracts can establish payment terms and automatically make payments once the conditions are met. This minimizes delays and promotes timely and fair payments to suppliers.

Real estate transactions: smart contracts can simplify and speed up the process of real estate transactions. Traditional real estate transactions can be complicated and require lengthy negotiations between intermediaries, such as notaries.

An example of an application of smart contracts in real estate transactions is the automatic transfer of property rights. Once all contractual conditions have been fulfilled, a smart contract can make sure that the property rights are transferred automatically without the need of a notary or intermediary. This minimizes the chance of human errors or fraud.

Another example is the decentralization of rental agreements. Smart contract allows tenants and landlords to negotiate their leases directly with each other via the blockchain. Rent payments can be done automatically and contractual obligations can be established and enforced with the help of the programming code of the smart contract. This simplifies the rental process and eliminates the need of intermediaries.

Insurance claims: with smart contracts, handling insurance claims can be done more efficiently and more transparent. Smart contracts can ensure accurate compliance with policy terms and promote smooth payments on claims

An example of an application of smart contracts in insurance claims is the automatic handling of car insurance claims. When a claim is filed, the smart contract can verify the relevance of the claim based on fixed conditions. When the conditions are met, the smart contract can automatically make the correct payment and handle the claim without the intervention of an insurance company.

Another example is automatically reporting insurance claims. Smart contracts allow policyholders to report claims directly on the blockchain, and the smart contract can then verify the claim and initiate the claim procedure. This minimizes the administrative hassle and speeds up the payment process.

Voting and elections: smart contracts can improve the trustworthiness and transparency of the voting process and elections. Traditional elections can face challenges, such as counting the votes, preventing fraud and verifying the validity of the votes.

Another application of smart contracts within the voting process and elections is guaranteeing the integrity of the voting data. With the help of the blockchain the votes can be accurately and immutably recorded. This minimizes the chance of fraudulent activities, such as manipulating the voting results,

Another example of the application of smart contracts in elections is making it possible to vote online. With smart contracts voters can vote electronically through a safe and verifiable digital identity. This can increase the accessibility of the elections and simplify counting the votes.

Notarial services: smart contracts can simplify or complement the role of traditional notaries with certain transactions. Notaries are often involved in preparing and verifying legal documents, such as marriage certificates, wills and property transfers. With smart contracts these documents can be established safely and accurately on the blockchain, which decreases the need of a physical notary. This can save costs and increase efficiency, while the integrity of the document is preserved.

Intellectual property rights and royalties: smart contracts can simplify the management of intellectual property rights and the distribution of royalties and make it more transparent. For artists, musicians and authors, smart contracts can provide for automatic payments and distribution of royalties based on agreements established in advance. This minimizes the risk of non-payments or conflicts and ensures that rights holders are fairly compensated for their creative works.

Inheritance planning: smart contracts can also be used for inheritance planning. When drafting a will, conditions and instructions can be encoded in a smart contract. This can ensure that the inheritance is divided in a correct way and that the specific conditions of the testator are met. Smart contracts can help make sure that the inheritance is executed without any conflicts and that taxes and legal complications are minimized.

Insurance policies: smart contracts can also be applied in the insurance sector. When an insurance contract is made, the conditions can be recorded in a smart contract. This can help with automating premium payments and handling damage claims. Insurance companies can automate payments when a damage claim is verified. This speeds up the settlement of claims and decreases fraud.

Management of IoT-devices: Smart contracts allow Internet of Things (IoT) devices to autonomously interact and execute transactions using blockchain technology. Smart contracts can, for example, be used to optimize the use of energy by having IoT-devices communicate and make smart decisions based on pre-programmed rules. This can lead to a more efficient use of energy and cost savings in smart houses and cities.

In addition to the broad applications of smart contracts, it is also important to note that there are cryptocurrencies specifically designed to enable smart contracts. A well-known example is Ethereum, which supports a programming language with the name Solidity to write complex smart contracts and execute them on their blockchain. Ethereum paved the way for a set of decentralized applications, known as DApps (Decentralized Applications), which provide trust, transparency and autonomy in different sectors.

These DApps use smart contracts to offer different features, including financial services, decentralized exchanges, gaming-platforms and more. Other cryptocurrencies, such as NEO and Cardano, offer support for smart contracts, and this is an up and coming area in which new developments are constantly taking place. These cryptoprojects show the power and potential of smart contracts in a wider context of the crypto-industry and their role in creating decentralized and efficient ecosystems.

Smart contracts have the potential to change business interactions through efficiency, transparency and automation. They offer the possibility to streamline processes, increase trust and decrease the dependency on traditional intermediaries. Whether it is about financial transactions, supply chain management, real estate transactions, insurance claims and a safe corporate world.

However, it is always wise to do independent research before getting involved in smart contract implementations or investments. Even though smart contracts offer many benefits, it is important to take the legal, ethical and technical aspects into account. By understanding the potential of smart contracts and staying informed about the development of this technology, you can maximize its potential.

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Smart Contracts: the future of efficient and transparent business interactions - NL Times

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Chainlink Bulls Brace For Explosive Growth Following $216 Million Whale Accumulation – TradingView

Chainlink (LINK), the oracle network powering smart contracts across the crypto landscape, is making waves with a recent surge in whale activity. Data reveals $216 million worth of LINK tokens withdrawn from the Binance exchange by a staggering 83 separate wallets, sending the token price on a parabolic trajectory.

Whales On A Feeding Frenzy

On-chain analytics platform Lookonchain paints a fascinating picture of the ongoing accumulation binge. Their findings suggest a coordinated effort, with distinct wallets withdrawing massive amounts of LINK. While the possibility of a single entity pulling the strings remains unconfirmed, the sheer volume of tokens amassed hints at a major shift in institutional participation within the Chainlink ecosystem.

This coordinated accumulation, especially the withdrawal of such a significant sum from a major exchange like Binance, raises intriguing questions, some analysts say. It could reflect growing institutional confidence in Chainlinks long-term potential, particularly with initiatives like the Cross-Chain Interoperability Protocol (CCIP) expanding its reach.

Adding fuel to the fire, IntoTheBlock data reveals an additional $129 million stacked up by whales over the past 24 hours alone. This relentless buying pressure has translated directly to price action, with LINK experiencing a meteoric rise of 6% in the past week and a staggering 20% in the past month.

Chainlink Fundamentals Shine

While whale activity often grabs headlines, Chainlinks underlying fundamentals paint an equally compelling picture. As the leading oracle provider in the Web3 space, Chainlink acts as a bridge between smart contracts and real-world data, enabling them to access secure and reliable information off-chain. This critical role fuels countless DeFi projects, positioning Chainlink as a cornerstone of the burgeoning decentralized finance landscape.

Moreover, Chainlink boasts a relentless development team, consistently rolling out new features and upgrades. Notably, the recent introduction of CCIP further enhances the networks cross-chain compatibility, opening doors to a wider range of smart contract applications. This unwavering commitment to innovation further strengthens the investor case for Chainlink.Parabolic Dreams: Will LINK Take Flight?

With bullish sentiment surging and whales circling, the question on everyones lips is: can LINK sustain its upward trajectory? While predicting the future of any crypto asset remains a perilous endeavor, analysts are cautiously optimistic. The confluence of strong fundamentals, whale accumulation, and a growing user base creates a fertile ground for further price appreciation.

Analysts said the ongoing accumulation by whales, coupled with Chainlinks solid fundamentals, suggests a potential parabolic run. However, caution is warranted. The crypto market remains volatile, and profit-taking could trigger corrections. Nevertheless, LINKs long-term prospects appear bright, making it an asset worth watching closely.

Whether LINKs price soars to parabolic heights or faces turbulence in the near future, one thing remains clear: the recent whale activity and unwavering developer commitment have thrust Chainlink back into the spotlight, solidifying its position as a key player in the ever-evolving blockchain landscape.

Featured image from Adobe Stock, chart from TradingView

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Commonwealth training on internet safety praised by Papua New Guinea judges | Commonwealth – Commonwealth

Judges in Papua New Guinea have commended a new Commonwealth training course aimed at upskilling them to handle cybercrime cases and make the internet safer for their citizens.

Supported by the United Kingdom, the Commonwealth Secretariat partnered with the Papua New Guinea Centre for Judicial Excellence to organise the training in the capital city, Port Moresby on 12 and 13 February 2023.

More than 40 judges and magistrates attended the training, engaging in simulations to deepen their understanding of cyber threats and computer-based offences.

They were equipped with practical skills to apply internationally recognised good practices within their jurisdictions, gather electronic evidence admissible in courts, and foster cross-border cooperation to prosecute cybercrimes.

Covering topics ranging from protecting user data to authenticating digital evidence, the training course aimed to address the challenges judicial officers often face in tackling cybercrimes, particularly in developing countries.

During the opening session, Justice Les Gavara-Nanu, a Supreme Court judge, commended the timely training and drew attention to the changing landscape of Papua New Guineas criminal justice system.

He underscored the challenge posed by the surge in cybercrime, which requires new approaches to evidence-gathering compared to traditional crimes.

Justice Gavara-Nanu continued:

We need assistance from the Commonwealth Secretariat to deal with these types of cases, from investigation [and] detection to prosecution and adjudication which is what concerns judges and magistrates as adjudicators.

John Carey, Judge Administrator of the Papua New Guinea Centre for Judicial Excellence, echoed Justice Gavara-Nanus sentiments, expressing full support for the training on behalf of the countrys Chief Justice, Sir Gibuna Gibbs Salika KBE.

Reports indicate a disproportionate increase in cybercrimes in the Asia-Pacific region, accounting for 31 per cent of all incidents remediated around the world in 2023.

Cybersecurity threats were estimated to cost organisations in the Asia-Pacific region about US $1.75 trillion in economic losses roughly the size of the worlds 13th largest economy, South Korea.

Addressing the participants remotely, Commonwealth Assistant Secretary-General Professor Luis G. Franceschi said:

Our research shows a particular need for enhancing the skills of judicial officers to effectively adjudicate cybercrime cases.

The knowledge and skills you will gain through training will help you identify practical solutions to the many challenges faced by our countries in making the internet a safer place for everyone.

He urged judges and magistrates to remain vigilant against cyber threats by regularly updating their security protocols, practices and policies while pledging the Commonwealths full support to them in this endeavour.

In her remarks, Anne Macro, the UKs Commissioner to Papua New Guinea, reiterated her countrys commitment to ensuring a safe and trusted cyberspace for all. She emphasised that the UK would continue working with international partners, including the Commonwealth Secretariat, to achieve this goal.

Established in 2018, the Commonwealth Secretariat has trained more than 1,000 law enforcement officers, prosecutors, and judicial officials from 55 Commonwealth member countries.

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Satoshi Trial (COPA v Wright) witness says Craig Wright showed them early white paper draft – CoinGeek

A number of witnesses took the stand for Dr. Craig Wright in Londons COPA v Wright trial this week, telling the court in various ways that their experience with Dr. Wright before the public release of the Bitcoin White Paper makes him a likely candidate to be Satoshi Nakamoto.

The most dramatic of these came from Rob Jenkins, a former business associate and later friend of Dr. Wright appearing via video link. Jenkins told the court that while he hadnt been sent any pre-release draft of the Bitcoin White Paper, he does remember being shown a document by Dr. Wright which included Timecoin in the header.

When Dr. Wrights testimony earlier in the trial led us through a series of pre-release Bitcoin documents he has in his possession, Timecoin featured heavily in both early iterations of Dr. Wrights work on Bitcoin and in handwritten notes he made during the years leading up to Bitcoins release.

The revelation was so significant that it left COPAs barristerJonathan Moss of Hogarth Chamberswith no choice but to accuse Jenkins of being prepped for his testimony, at one point demanding that Jenkins hold his notes up to the camera (Jenkins had already told the court he had scribbled Timecoin down).

Earlier in the trial, Dr. Wright was goaded by Jonathan Hough KC for COPA that of the many people Dr. Wright has said he gave early drafts of the Bitcoin White Paper to, only two (alleged financial backer Stefan Matthews and Dr. Wrights uncle Don Lynam) have been willing to go on record. As of this week, COPA can add another name to the list.

Jenkins also gave testimony that lined up with that of a witness on Friday Mark Archbold, who was IT Manager at Lasseters Casino when Dr. Wright was implementing their security system. Both Jenkins and Archbold describe proto-Bitcoin type security systems Dr. Wright was setting up, noting it involved complex firewalls and most importantly, a sequential logging system that was encrypted. As Jenkins described:

It was being described to me as we were disappearing down a rabbit hole of how you could protect a log file from being tampered with. We were going through a minutiae of scenarios and Craig described things like hashing the serials and talking about how do you differentiate between an operational log file and a new log file, and when Craig was describing this he referenced the genesis log file.

Sound familiar?

Similarly, Archbold describes a logging system developed by Dr. Wright for the security network at Lasseters. He says he saw firsthand that Dr. Wright had a large server room where he was storing the logs from his IT Security work, and that the logs were compressed and encrypted. The development and use of this system, Archbold testified, was being done in the hope of getting Lasseters accreditation and approval from the New South Wales government.

Archbold also noted that Lasseters contracted with Dr. Wright after the company had already tried to use consulting powerhouse Deloitte. Deloitte had tried and failed to get the accreditation twice, and by that time Archbold said Lasseters were ready to try something else. This led Archbold to Dr. Wright.

In other words, two witnesses testified this week that Dr. Wrights security work for them involved encrypted sequential databases providing the kind of security that Deloitte couldnt offer after multiple failed attempts.

A similarly revealing story came from Dr. Ignatius Pang. Pang is a bioinformatician in Australia who worked with Dr. Wright at BDO Kendalls. Pang said that during their time together at BDO between 2007 and 2009, Dr. Wrights office banter including telling Pang to use his Lego set to build a blockchain. Pang says he remembered this as a strange interaction, because using Lego to build a blockchain is trivial (its the core philosophy of Lego building) so Pang felt Dr. Wright was talking about something else. Dr. Wright would elaborate later, inviting Pang to make a recursive Chines chain puzzle, which involves nine linked rings interlocking through a central loop.

Pang also said that he and BDO colleagues remember Dr. Wright pacing up and down the BDO cafeteria asking people whether or not theyd heard of a Japanese person. Pang said he believes that name was Satoshi Nakamoto. He also made reference to Dr. Wright having used the word Bitcoin with him before the release of the white paper.

Importantly, Pang was also asked about a BDO CV that Hough KC had used to grill Dr. Wright during his testimony. According to Hough KC and COPA, the CV only includes references to IT security services and therefore none of what Dr. Wright is saying about his highly specialized services at BDO could be true. When Dr. Wright was asked about this, he said that this CV was one of many prepared by BDO for different purposes, which Hough KC implied was part of Dr. Wrights tissue of lies at the heart of his case.

But when Pang was asked about this document on Thursday, he said that the CV is not inaccurate but does not tell the full story:

Its an overall birds eye view of his responsibilities, of which there were many, Pang said, going on to say that there are a lot of details that are not captured, such as the digital forensic services which are very complicated.

Hough KC, trying his luck once more, asked Pang whether its fair to say based on this CV that Dr. Wrights BDO work focused on IT Security, IT Audit and Review and Digital Forensics work.

I would say this is only part of it, said Pang. He also does very advanced data analytics for clients.

Though naturally not as explosive as Dr. Wrights marathon testimony, these are the witnesses who might leave the largest impression on the court. They are individuals with reputations of their own entirely external to the digital asset industry who both attest to Dr. Wrights skills and work history, which they say was unique and of a high enough level that when they heard he had been outed as Satoshi Nakamoto in 2015, it didnt come as too much of a surprise.

Whats next?

COPA will be cross-examining Dr. Wrights remaining fact witnesses until Tuesday. After that, it will be time for Dr. Wrights team to grill the fact witnesses presented by COPA. The expert evidence is not set to be heard until the following week.

New to blockchain? Check out CoinGeeks Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.

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COPA Trial: Craig Wright Became ‘Very Annoying’ But Was ‘Probably’ Bitcoin’s Creator – Cryptonews

Last updated: February 20, 2024 14:56 EST | 4 min read

In the ongoing legal battle between the Crypto Open Patent Alliance (COPA) and self-proclaimed Bitcoin creator Craig Wright, intriguing revelations came to the surface on February 19, suggesting that Wright could be the mysterious Satoshi Nakamoto.

This revelation came to light during the testimony of a witness who described Wright as very annoying. Still, it acknowledged his potential connection to the pseudonymous creator of Bitcoin due to his affinity for Japanese culture.

Three key witnesses were summoned to testify in the third week of the legal battle between the Crypto Open Patent Alliance (COPA) and Craig Wright. Qudos Banks Chief Investment Officer (CIO) David Bridges, Max Layman, and nChain co-founder Stefan Matthews took the witness stand on Monday.

Bridges, the first to be questioned by COPAs legal attorney Jonathan Hough, revealed that the self-described Bitcoin founder worked with the Qudos Bank as an IT expert sometime in 2005. He noted that Wright had given him several documents and papers, which became very annoying to him at the time.

When questioned on if any of the documents was a criminal whitepaper as the COPA attorney called it, however, Bridges responded that it could be possible.

Sharing more details, he stated that most of the documents focused on the forensic and IT services Wright performed for the Australian mutual fund bank.

The next item on the COPA legal teams agenda was to ascertain whether Wright discussed the idea of a decentralized payment system with Bridges.

In an earlier statement, Bridges said that Wright proposed a system that could replace the traditional SWIFT network. The Qudos Bank CIO said that was the case, however, he was not quite familiar with the technical details surrounding Wrights idea.

He also pointed out that he was not yet familiar with Bitcoin, even though it was 2010 when the Bitcoin Pizza event became popular. Bitcoin Pizza refers to an event when early Bitcoin user Laszlo Hanyecz paid 10,000 Bitcoins for a pair of Papa Johns Pizzas.

Next, the COPA legal team asked Bridges if he was still of the opinion that Wright was Satoshi Nakamoto due to his love of Japanese stuff, to which he responded in the affirmative.

When asked whether he knew that other names had been drafted in the lineup of possible Bitcoin founders, Bridges said he didnt know and didnt follow the narratives.

Wrights cousin, Max Lyman, was the next witness called to the stand. Lyman confirmed that Wright had asked him to run some code on his computer, however, the computer was not up to the task at the time.

Sharing more details, Lyman stated that Wright was running an e-commerce business then.

Lyman also revealed that he got the Bitcoin whitepaper but was curious about it coming from Wright. He said that Wright sent him several documents and a whitepaper draft could have been one of them.

He also stated that he was not convinced that Wright was the creator of the foremost crypto asset.

Stefan Matthews was the third witness on the stand, and his relationship with Calvin Ayre and Wright was brought up.

The co-founder of nChain noted that Ayre was an investor in the nChain platform but denied that he had notable sway in the company despite a 500 million Swiss francs investment.

He, however, admitted that he served as a promoter of Wrights claims of being the Bitcoin network founder.

Matthews stated he did not sponsor Wrights legal actions and only paid him salaries as a business routine.

The ongoing trial between COPA and Wright seeks to debunk the latters claims of being the founder of the worlds largest blockchain network.

According to the plaintiff, it is requesting that the UK court issue an injunction against Wright that states that he is not the rightful creator of the Bitcoin network.

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COPA Trial: Craig Wright Became 'Very Annoying' But Was 'Probably' Bitcoin's Creator - Cryptonews

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