Tag Archive : introduces

Coinbase Introduces Coinbase Oracle to Secure DeFi Ecosystem

The USA-based cryptocurrency exchange Coinbase launches a new product named Coinbase Oracle to serve as a source of signed price data for BTC-USD and ETH-USD markets. 

American cryptocurrency exchange Coinbase recently announced that it is launching a new product named Coinbase Oracle that will be a source of signed price data for BTC-USD and ETH-USD markets. 

The data will be sourced from the Coinbase Pro exchange, and the price feed will be updated every 60 seconds. Moreover, Coinbase Oracle is secured by the same infrastructure that takes care of Coinbase’s customer assets. 

According to the official announcement, the Coinbase Oracle is aimed to provide better security to the decentralized finance ecosystem. With this new platform, DeFi participants will no longer have to rely on ‘signed price data from less liquid exchanges or on-chain data from decentralized exchanges’, which are both vulnerable to attacks. 

Coinbase CEO Robert Leshner commented, “Coinbase Oracle will increase the security and decentralization of Compound’s price feed, which is mission-critical to the protocol and the ecosystem of applications built on top of Compound. We’re not alone — the rest of the DeFi will benefit from faster development, consistent data, and shared standards.”

Antonio Juliano, CEO of dYdX expressed his support for the Coinbase Oracle. He opined that the platform will have a huge impact on the DeFi ecosystem.

As he acknowledged that Coinbase is the ‘most trusted and secure institution in the space’, he also stressed on the fact that these prices can well be used to create more decentralized price oracles in the DeFi ecosystem. 

Coinbase also explained the source of the price information in its blog post.

It stated, “We use the Coinbase Pro API as the source of the price data. Coinbase Pro is one of the most liquid crypto-exchanges in the world. There is already an ecosystem of oracles, market makers, and traders that rely on an accurate data feed provided by the Pro API. As such, Coinbase is making continuous investments in the quality of the API itself, as well as the market, as measured by liquidity.”


SkyCity Introduces Eos Hotel Brand at Adelaide Casino

New Zealand casino operator SkyCity Entertainment Group today introduced a new hotel brand as part of the ongoing A$330 million expansion of its Adelaide Casino in South Australia.

Eos by SkyCity was unveiled today as the hotel brand that would join SkyCity’s existing operation in Adelaide.

The new hotel at Adelaide Casino will occupy a 12-story tower which is currently under development at the site. The new Eos by SkyCity hotel would feature 120 luxury hotel rooms that would range in size from 45 square meters up to the 305-square-meter Grace Villa. All of the rooms will overlook the Adelaide Oval or the Torrens River.

SkyCity revealed plans to expand its Adelaide Casino operation years ago, but bureaucratic hurdles delayed the start of construction. Work on the planned expansion eventually kicked off in the summer of 2018.

The A$330 million expansion project includes renovation of the existing gaming floor and the addition of a hotel tower and different other new amenities.

Work on the exterior facade of the new hotel building has been completed, and attention is now fully focused on its internal design and fit-out. The new Eos by SkyCity hotel is slated to swing its doors open and welcome its first guests in late 2020.

Setting the Benchmark for How SkyCity Provides Guest Experiences

As mentioned earlier, Eos by SkyCity will feature as many as 120 luxury rooms and suites. Guests will be able to stay at Allure Rooms, Radiance River View Suites, Oasis Suites, and the Grace Villa, the 305-square-meter jewel in the Eos crown that will sit at the tallest point of the new hotel tower.

All rooms will feature keyless entry, in-room digital concierge tablets, and 65-inch 4K HD TVs. Guests will also be treated to various personalized experiences, including an in-room mixologist.

In addition to its luxury rooms and suites, Eos by SkyCity will feature a plethora of other amenities such as two signature restaurants, including a rooftop one, a spa and wellness center, a fitness center, a swimming pool, and an event center with room for up to 650 delegates.

The new hotel tower will be connected off-street to SkyCity’s adjacent casino and entertainment complex.

Eos by SkyCity will join three other hotel experiences by the New Zealand casino and hospitality operator. The company’s current hotel portfolio includes properties in Auckland, Hamilton, and Queenstown.

Commenting on their newly unveiled hotel brand, SkyCity Entertainment Group General Manager, Hotels, Brad Burnett said that “Eos by SkyCity will set the benchmark for how we provide experiences and entertainment that excite our guests, and we hope to play a key role in bringing visitors back to South Australia when it is safe to travel once again.”

SkyCity’s new hotel experience is scheduled to be launched late this year.

Source: SkyCity to introduce luxury ‘Eos’ brand in Adelaide

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Etherscan Introduces New Feature “ETHProtect” to Track Illicut Funds

Etherscan launches a surveillance feature named ETHProtect to help users track funds originating from illicit sources.

Ethereum’s block explorer Etherscan has announced a new scam monitoring feature to track illegal activities. The new feature named Every Transaction Hash Protect (ETHProtect) will blacklist suspicious wallets by allowing users to check if incoming funds actually originate from phishing schemes or scams or not. 

With this new feature, users will be able to track the source of the contamination of funds. As soon as they come across a tainted wallet, a red banner will pop up alerting them that the funds are linked with illegal activities.

Moreover, these wallet addresses will be pinned red, allowing users to get to know about the transaction history. And it will also display the transaction has which originally contaminated the funds, along with the actual source of origin and the number of nodes it passed since being tainted. 

Etherscan published a blog post explaining the matter. It notes, “With an increasing number of scams, hacks and fraudulent activities, we aim to identify potentially tainted addresses and to make available this information to all our end users. While taint tracing itself is not new and commonly used by large commercial organizations such as crypto exchanges and providers, services like these can costs thousands of $$ dollars upwards per month and is normally not within the reach of the common end-user or open-source project.”

According to the announcement, while users will be able to trace illicit funds in real-time, the end-goal of the project is to eliminate contaminated funds out of circulation. 

Etherscan was launched way back in 2015, and since then it has become one of the most popular integrated Ethereum block explorers. 

RippleNet Introduces Instant Payment Solutions to Thailand

The digital money transfer platform Azimo has collaborated with the Siam Commercial Bank (SCB) to introduce a cross border payments service between Europe and Thailand, through Ripple’s global payments network RippleNet.

Ripple announced that, through this solution, it aims to solve the long-lasting problem of unreliable global payments. It claimed that once the system is in place, transactions between European countries and Thailand will be processed in less than a minute. Before this, remittances between Europe and Thailand used to take more than a day to be settled. 

Michael Kent, Azimo’s co-founder and executive chairman commented, “More and more countries are going to instant payment. Thailand recently launched its instant payment network, and this partnership with the largest bank in the country allows us to get the time to settle payments down from around 24 hours to an average of 22 seconds. [It’s] faster to send money to Thailand than to someone else in Europe”.

According to reports from the World Bank, Thailand alone receives $6.7 billion worth remittances per year. Moreover, it is also pretty expensive to send and receive money from Thailand. So, Ripple’s latest partnership does make sense, giving businesses in Thailand an opportunity to process instant transactions at a low cost. 

Not long ago, Azimo partnered with Ripple to use its On-Demand Liquidity service as a part of its strategic expansion into the Philippines. In its recent announcement, Ripple stated, “People can’t and shouldn’t wait days or even weeks to receive payments from loved ones. RippleNet and ODL are allowing financial institutions to process global payments at unprecedented speed, changing the status quo. By making new connections and expanding services like Azimo’s partnership with SCB, Ripple customers are able to deliver the best experience in cross-border payments today”. 

Australia introduces a roadmap to blockchain adoption

Australia is embracing blockchain technology and is on a mission to make the most of this innovation. While the country is still one of the hubs for blockchain, there is still a lot to be done on the government’s part, to make sure that the adoption rate keeps growing and the services across the spectrum make good use of the innovation.

The fact that blockchain will inevitably become an integral part of contemporary society is indisputable, meanwhile, though, every country that wants to maintain a technological edge is trying to maximize the gains and improve the existing state of the blockchain. The technology is getting attention from all around the world and the unexplored potential of this innovation could drastically improve a lot of businesses and services, making them faster, more transparent and most importantly – profitable.

Blockchain is already a huge part of the Australian day-to-day services. The country’s love for crypto is well known and Aussies have embraced different sorts of e-Wallets, using them almost as often as traditional payment methods. Accepting blockchain-based crypto payments is a common thing in the country, gaining more popularity than in any other place in the world. Many entertainment centres, such as shops and online casinos in Australia accept crypto payments and are specifically catered to that group of consumers. They have become an essential part of Australia’s financial industry, and now the country is looking to expand the benefits of blockchain technology.


National Blockchain Roadmap

Recently, the Australian government introduced a 32-step guideline that is supposed to help the country on its journey to fully embracing blockchain technology, in order to generate more income for the country. The National Blockchain Roadmap is a detailed description of the government’s plan of making blockchain more profitable and mainstream. 

The roadmap is a 52-page document that was released by the Minister for Industry, Science, and Technology with help from industry experts and universities, who formed an Advisory Committee. The Australian government wants to use blockchain for international investments and collaborations, to enhance the skills, capability and innovative movements and hopes to work on and improve its existing regulations and standards when it comes to blockchain technology.


Importance of regulations

While many discussions centre around blockchain technology, when it comes to regulations, most of the country is still figuring it out. Since the nature of blockchain is something completely new to the regulatory bodies, they often find it hard to strike the right balance between security and freedom. This new roadmap hopes to create an ecosystem where blockchain technology thrives and where its capabilities can be fully explored in a safe and regulated environment.

As mentioned in the National Blockchain Roadmap, Australia will focus on supporting global supply chain management systems and will further look into the tracking of assets through blockchain. The decentralized aspect of the technology is what makes it so popular, and it also represents the main commitment on Australia’s part to embrace this approach and promote decentralized management and distribution. Transitioning towards blockchain-based management could save a lot of money and improve customer experience. There are, however, new challenges that most people haven’t had a chance to deal with yet. The need for identity checks and security has never been so high. The regulations regarding the legitimacy of blockchain platforms need to be altered to ensure the quality of these services and information is maintained through and through.


The Blockchain capital

Australia has ambitious plans to become the global leader in the digital economy, in a ten-year period. Their efforts, when it comes to blockchain technology, have served as a testament to their commitment to this long-term leadership goals.

Ths roadmap has 12 steps that need to be completed by 2025, and the committee will provide support and advice for anyone who wants to get into this industry and is willing to contribute to the long term goals of the Australian government – concerning blockchain adoption and utilization. The committee will provide accessible information about the existing government programs, making services more popular.

This roadmap is one of the first of its type in the world. The countries are mostly hesitant to prioritize this technology and focus so heavily on development and adoption levels.