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Binance and Eosfinex Join Equilibrium’s DeFi Project Governance

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Binance and Eosfinex Join Equilibrium's DeFi Project Governance

Binance and eosfinex are engaging in Equilibrium’s efforts to help bring improved decentralization to the DeFi project’s governance processes.

Equilibrium is your interoperable DeFi hub famous for its USD-pegged EOSDT stablecoin, constructed on EOSIO. EOSDT enters into circulation when users pledge digital assets such as EOS and Bitcoin as security, making EOSDT a decentralized stablecoin.

The governance framework that pushes the upgrades to this underlying technology is now also decentralized, based on multiple entities working together. Binance is the latest, largest name on this listing, joining an EOS-based decentralized market by Bitfinex called eosfinex and two major EOS block producers — EOS Nation and EOS Cannon.

Each of these well-known companies are now part of the approval process for EOSDT contracts prior to those contracts are released. The smart contracts behind EOS-based DeFi applications are changeable and upgradeable for the interest of future-proofing these solutions. Thanks to the attribute of EOSIO, DApp updates can occur seamlessly without requiring painful migrations into a completely new set of contracts (as is usually the case on Ethereum, for instance ). However, this attribute can also allow for a single point of failure if there is only one thing in charge of approving these upgrades. Fortunately, multisignature capacities (commonly abbreviated to”multisig”) are built into EOSIO and help make certain that the ability to update smart contracts remains an advantage instead of a vulnerability.

Read Also: Investing at the Ideal Crypto Could Produce 7x Returns in 24 Months

Multisig only means that two or more accounts have to signal a trade so as to verify it. Equilibrium strives for complete decentralization because it averts single points of failure from appearing while engendering a trustless environment that eliminates the possibility of theft. Compare this to some other DeFi protocols without a dispersed permission arrangement, like MakerDAO — it may theoretically do whatever it wants. “Binance is actively participating in the EOS ecosystem in addition to fulfilling its block producer duties and committed to encouraging the DeFi ecosystem,” said a Binance spokesperson. “As more DeFi jobs continue to gain adoption from the cryptocurrency area, we are pleased to take part in the multisig of Equilibrium’s EOSDT stablecoin to support this step forward for the ecosystem expansion.” “The Equilibrium group has an established history of delivering innovative, valuable products which contribute to the EOS ecosystem,” stated Steven Quinn, Product Manager in eosfinex. “Decentralization and contemporary blockchain technologies like EOSIO have jump-started a new outlook for finance.

We think that helping to bring Equilibrium Framework to a broader audience will drive increased interest in EOS and further demonstrate the strengths of its community and technology.” “We’re keen on upgradeable smart contracts and EOSIO’s permission architecture because they bring a good deal of flexibility to the development process. Migrating to a new version on other blockchains could be challenging,” explained Alex Melikhov, CEO and creator of Equilibrium. “Furthermore, it is great to have trusted authorities (such as major companies and block producers) supporting initiatives which bring about decentralization.” Launched in April 2019, Equilibrium has been constantly growing its DeFi frame to bring stability and predictability into the volatile crypto marketplace. Its flagship product, the EOSDT stablecoin, is pegged to the US dollar while being derived from the over-collateralization of digital assets.

Binance and Eosfinex Join Equilibrium’s DeFi Project Governance
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CoinDCX Learning Platform Launch on Blockchain

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CoinDCX Learning Platform Launch on Blockchain
  • One platform based in India, CoinDCX has just launched a learning platform dedicated to blockchain and the world of crypto. 
  • According to a statement published this week, the team at the platform have created such a network as an academy that provides guides, classes, lectures, and articles.

A cryptocurrency platform based in Indian, CoinDCX has just launched a learning platform dedicated to the world of crypto on blockchain.

According to a statement published earlier this week on the 16th of June, the team at the platform have created a learning platform for a blockchain and cryptocurrency academy that gives guides, classes, lectures, and articles.

The chief executive officer and co-founder of the platform, Sumit Gupta said the followings:

“With the potential to accelerate financial inclusion in India, as well as opening gateways to new forms of investing, cryptocurrencies can benefit everyone. However, for Indians to take full advantage of crypto, we need to lay the groundwork through appropriate education. With DCX Learn, we want to arm users with the knowledge necessary to navigate crypto markets.”

Read more: How To Invest In Bitcoin (2020)

According to the statement, the platform expects to explain the concept of the area of crypto through using infographics in addition to tutorial videos and articles that ought to be understandable for beginners in the industry.

The platform has further stated that informing the users on the industry are less likely to fall for scams and phishing schemes.

In addition to this, the platform highlights people who understand blockchain technology will be applied to boost their own company with that knowledge. It will be interesting to see how this scenario plays out.

Read also The Best Way to Grow Cryptocurrency and follow us on Twiter, Linkedin, and Facebook

CoinDCX Learning Platform Launch on Blockchain
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Blockchain can help provide secure data technology – Globenova Corporation

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The Managing Partner, Globenova Corporation, Toks Olaoluwa, has said that Blockchain Technology can provide firms with secure data that has integrity.

Speaking during the inaugural Lagos Blockchain Technology conference recently, he noted that Blockchain Technology is not magic but a new kind of data store with some unique properties that complement other technologies. According to him, Blockchain is immutable, tamper-proof, reliable, and resilient. He added that Nigeria Customs is one of the first in the world to deploy Blockchain technology. Olaoulwa stressed that the technology is also good for land registration and e-voting that can secure the integrity of votes.

Similarly, Vice President Product, Convergence Toronto Canada, Eric Zvaigzne has disclosed that the Global Blockchain market size is expected to grow from $1.2 Billion in 2018 to $23.3 billion by 2023.

“The United Arab Emirates (UAE) has reaffirmed its goal to digital 50 percent of government transactions using blockchain technology by 2021” and the United Nations, in order to deliver better on their mandate in the digital age, has stressed the need to embrace technologies like Blockchain that can help accelerate the achievement of the Sustainable Development Goals,” he said.

He added that Blockchain is good at creating high transparency across multiple parties adding that opportunities grow as we become more interconnected to make better use of our data.

In her speech, Commissioner for Education, Lagos, Folashade Adefisayo, who was represented by Oyetola Olufunke, stated that as an educationist with unflinching passion for learning, schools transformation and capacity building, I have been driven with new trends towards engineering quality education aimed at being at par with the 21st-century standard, which is a pivot to a sustainable and technologically driven system in no distant future.

She added the government will leave no stone unturned in providing the enabling environment through the formulation of policies and regulations that will make the sector more conducive for learning and contribute to the growth of the society.

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Blockchain can help provide secure data technology – Globenova Corporation
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Disclaimer: 9ja Informative's content is meant to be informational and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions. 9ja Informative receives compensation with respect to its referrals for out-bound crypto exchanges, crypto wallet websites and affiliate links.

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