Blockchain Tech Upgrades, Funding Announcements, and Deals (Sept. 19-25)
The latest updates in the blockchain space include notable partnerships, mainnet upgrades, and funding initiatives. Below are key developments for the week of September 19-25.
Civic’s ID Solution to Verify Driver Licenses on Rentality Web3 Platform
Civic, a developer of tokenized identity solutions, has partnered with Rentality, the first Web3 car rental platform, to enhance security on the Base network. Civic’s solution allows Rentality users to securely verify their driver’s licenses and enforce age restrictions. According to Civic:
- The Civic ID Verification Pass allows virtual verification of driver licenses.
- This solution streamlines the car rental process by removing the need for physical verification.
- It enhances trust, security, and compliance in the peer-to-peer rental market.
This partnership is expected to set a new standard for secure car rentals within Web3 platforms.
Chromia Blockchain Announces ‘Asgard’ Mainnet Upgrade and $20M Data & AI Fund
Chromia, a blockchain ecosystem focused on optimizing decentralized applications (dApps) by providing each with its own set of nodes, revealed its plans for a mainnet upgrade called “Asgard.” This was announced on the TOKEN2049 stage along with the creation of a $20 million Data and AI Ecosystem Fund. According to Chromia:
- The Asgard upgrade, scheduled for Q4 2024, will introduce “Extensions” – customized chains with new functionalities.
- These include oracles, AI computation support, data availability, and ZK (zero-knowledge) proofs.
- The $20 million fund will support data-heavy projects and AI-enabled applications on Chromia.
ChainOpera AI Emerges From Stealth as Decentralized AI Platform
ChainOpera AI, a decentralized open AI platform, has officially emerged from stealth mode. The project aims to decentralize AI development by offering an app marketplace for AI applications. ChainOpera’s key differentiators include:
- It offers fully decentralized resources for AI development, including community-sourced training models.
- Developers can build, train, and deploy AI models without relying on centralized infrastructure like AWS.
- It provides cost-effective GPU access through its decentralized platform.
This new platform aims to fill the gap in decentralized AI infrastructure, making AI development more accessible and affordable.
Oasis Network Launches Liquid Staking With Accumulated Finance
The Oasis Network, a privacy-first, scalable Layer-1 blockchain, has partnered with Accumulated Finance to launch liquid staking. This new feature, powered by the Oasis Sapphire ecosystem, allows:
- ROSE token holders to stake their assets while keeping them liquid for trading or use in DeFi.
- The introduction of stROSE, a liquid staking token, providing staking rewards without losing liquidity.
- A reduced unbonding period for unstaking, eliminating the previous 14-day waiting period.
This new staking feature offers users flexibility and increased returns within the Oasis ecosystem.
MatrixPort and exSat Plan Wrapped Bitcoin Alternative, nBTC
MatrixPort, a digital asset services platform, and exSat, a docking layer for Bitcoin scalability, have announced their collaboration to introduce nBTC, a wrapped Bitcoin alternative. The partnership aims to:
- Improve liquidity for Bitcoin through nBTC, enabling diverse financial applications like staking and lending.
- Leverage MatrixPort’s technology and user base alongside exSat’s focus on UTXO data indexing.
- Position exSat as a major Bitcoin Layer-2 solution with an anticipated $400 million at launch.
nBTC is expected to enhance Bitcoin’s scalability and unlock new financial opportunities.
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