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Xfinite Taps Power of Algorand Blockchain to Launch Its First dApp Mzaalo

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Xfinite will run a fair and transparent ecosystem that will utilize Algorand’s Protocol Evolution system to power community consensus-based governance and decentralized finance initiatives.

Xfinite, a new generation digital media platform has tapped the power of the Algorand blockchain to launch its first dApp dubbed the Mzaalo. The Xfinite platform is a blockchain-based ecosystem with the aim to create an engaging ecosystem based on trust, transparency, and inclusivity. Xfinite is built with the aim to usher in a future with a fairer system for everyone, as it aims to revolutionize digital media by prioritizing the needs and experience of its customers.

With the Algorand blockchain, Xfinite aims to churn out a lot of ecosystem initiatives for the benefit of its users. Part of the end-game in this partnership is to drive the mass adoption of the platform’s provisions through a scalable blockchain provision that can offer the complementary throughput.

Besides its embrace of the Algorand blockchain, Xfinite has also secured partnerships with mainstream corporations, such as Microsoft Corporation (NASDAQ: MSFT), Eros Now, Dailyhunt, and SpiceJet with their millions of users having easy access to the Xfinite ecosystem.

Xfinite Mzaalo dApp and Power of Algorand Blockchain

The Mzaalo dApp from Xfinite is a streaming service platform that offers more than 50,000 hours of content and new mechanisms for engaging with content and other consumers. The app provides unique incentivization mechanisms to reward content creators while also rewarding user engagement.

Per the press release shared with Coinspeaker, these and more use cases on the Mzaalo app are designed to create unique values for its diverse users, while also creating new markets for brands and authenticating content creation.

“Xfinite has a visionary understanding of how blockchain can be leveraged for new opportunities in the media industry. Broad blockchain adoption can only be achieved through the creation of products that are tangible and inclusive for any consumer, no matter what region they are in or what their background may be,” said W. Sean Ford, COO of Algorand. “With major partnerships with organizations that have millions of users, we are excited to support Xfinite’s new applications and welcome them to the Algorand community.”

The choice of the Algorand blockchain is based on the unique technical capabilities the platform has to offer. As a pure Proof-of-Stake (PoS) platform with capabilities for immediate transaction finalization, the Algorand blockchain comes in handy to help the Xfinite ecosystem thrive in its proposed product and ecosystem functionality.

“Xfinite has been searching for a trustable, scalable, and decentralized solution that caters to mainstream adoption. Algorand is a superior technology whose volume of transactions, activity, and cost, makes it superior to other public blockchains. We are proud to partner and collaborate with founder Silvio Micali and the entire Algorand team, whose commitment and focus to the technology are inspirational,” said Mario Casiraghi, CSO of Xfinite.

Xfinite will run a fair and transparent ecosystem that will utilize Algorand’s Protocol Evolution system to power community consensus-based governance and decentralized finance initiatives.

Xfinite’s Solution Targets and the Role of XET Tokens

Xfinite’s network seeks to use its revolutionary technology in revamping digital media, crypto exchange provisions, gaming, sports, and entertainment amongst others.

At the heart of the Xfinite ecosystem will be the application of the XET token in the network’s operations. Part of the benefits the XFI token will offer its holders include unique value exchange, tapping the economic incentives the Xfinite’s platform has to offer, access to premium and exclusive content, and being able to vote for changes to the Xfinite’s protocol.

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Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.



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Galaxy Digital Leverages Blockstream Facilities for Bitcoin Mining Operations

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Despite the partnership announcement, Galaxy Digital Mining did not provide specific details on the number of machines deployed for the first installation.

Diversified financial services and investment management company in the digital asset sector Galaxy Digital (TSX: GLXY) said it is now hosting its newly-launched Bitcoin mining operations at Blockstream facilities. The diversified financial services firm noted that its Bitcoin-mining operations would use Blockstream facilities to initially deploy machines in Canada and the US.

CoinDesk said in a report that the partnership between Galaxy Digital and Bitcoin technology company Blockstream occurred less than two months after Galaxy Digital officially launched its mining operations.

In January, Galaxy Digital announced the launch of its miner financial services. At the time, the firm also added that it would begin its own Bitcoin mining business. Notably, providing financial services to Bitcoin miners has been a work-in-progress for Galaxy Digital since October 2020.

In addition, Galaxy Digital selected the former director of Mining at Fidelity, Amanda Fabiano, to head the new mining operations. Along with Fabiano, Galaxy Digital stated that there is a team of vast professionals working to advance the new unit. According to the press release, the new unit will be called Galaxy Digital Mining. The press release examined the functions of the new mining unit:

“…a new business unit committed to providing bitcoin miners with a comprehensive suite of financial services and products. Galaxy Digital Mining will serve as a one-stop financial services platform for miners-drawing the firm’s expertise in trading and risk management, investing and lending, and corporate advisory under one umbrella, tailored to the needs of the mining sector.”

Galaxy Digital Now Hosting Mining Operations Facilities

Now, Fabiano said that the company hopes to continually expand its mining operations. Despite the partnership announcement, Galaxy Digital Mining did not provide specific details on the number of machines deployed for the first installation. According to Fabiano, the financial services firm selected to use Blockchain’s facilities for “operational excellence.”

Blockstream CEO Adam Back also commented on the new partnership with Galaxy Digital. He said that Galaxy Digital has the opportunity to further growth with the Bitcoin technology company.

Earlier this year, Blockstream announced that it had purchased $25 million worth of Bitcoin mining machines from a Chinese manufacturer of crypto mining equipment MicroBT. Blockstream hopes to expand its mining operations with its new acquisition.

Data by MarketWatch revealed that Galaxy Digital stock had grown nearly 60% since the year began. The company’s stock has also spiked 189.68% in the last three months and almost 30% over the past month. With a market capitalization of $1.69 billion, Galaxy Digital stock has jumped 4.56% in the last five days. At press time, GLXY is closed at $17.41, a 5.74% loss over its previous close of $18.47.

Galaxy Digital has also partnered with CI Global Asset Management to launch a Bitcoin Fund in Canada. 

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Ibukun is a crypto/finance writer interested in passing relevant information, using non-complex words to reach all kinds of audience. Apart from writing, she likes to see movies, cook, and explore restaurants in the city of Lagos, where she resides.



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DeFi

How EdgeCoin Revolutionizes Future of Education Payments

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Edgecoinpay was designed after in-depth research into the end-user and the students’ perspective for the ease of use of the current payment system in the education arena.

In a radical move that will change the infrastructure of the payment facility within the education payment system via blockchain technology forever.

A team managed by L.A Investment Ltd and supported by Mr. Chandra, who is the director & shareholder of Global Universities have announced alongside many more universities the launch of a new digital stable-coin (Edgecoin).

This is fundamentally the most important game-changing cryptocurrency in the market due to being the only educational stable-coin out there within the crypto space.

Luke Arliss&Armon Rabiee has launched the new cryptocurrency which is a stable-coin named Edgecoin. The founder, Luke Arliss, has described it as “a solution to the problems within the banking system of the prohibitive cost that is currently enforced on students”.

”We have literally just scratched the surface, within blockchain technology which is well and truly become recognized as one of the most significant technologies of our time just as the internet was some 20 years ago. It will fundamentally change the world as we know it”, – said Luke Arliss who has been a key figure in blockchain technology and in the cryptocurrency world for many years.

Edgecoin creates an open payment and decentralized system for educational payments, this was conceived some years ago following the discovery of the difficulties faced regarding education in the industry affecting not only students, parents but also universities, who continued to struggle to receive on-time payments.

Edgecoinpay was designed after in-depth research into the end-user and the students’ perspective for the ease of use of the current payment system in the education arena.

These problems include high transaction fees and compliance data security and transactions that take forever.

To solve these issues, Edgecoin was designed to make transactions through a smart contract-driven payment system powered by the “Stella” blockchain. It is also designed to allow users to make transactions without restrictions and to process them in a safe and secure environment. It also has other problem-solving features like immediate processing of payments and complete control over funds.

Edgecoin is designed to work through a simple and friendly redemption mechanism, which works through an established exchange & redeem payment processor.

Edgecoin ensures that the compliance of funds that go through the app/exchange has a strict review on the users  KYC and AML that is uploaded via the users this ensures complete security of any transaction within the Edgecoinpay system.

Explaining the importance of Edgecoin, co-founder, Armon Rabiee emphasized that “It will help ensure that even in uncertain times, users will earn more value for their money whilst staking Edgecoin as a stable coin on our app/wallet, which will automatically allow you to claim our Air-coin. Air-coin is a fluctuation token that will be listed on the DeFi market that allows users to collect significant returns on their staking of Edgecoin”.

Both Luke Arliss & Armon Rabiee stated: “We need a token that could be fully functional, and compliance approved whilst supported by all legal financial licensing to benefit all echelons of the public such as universities and the crypto community at large. With all the technology over the past century the world has become a smaller place, in fact we see it as a global village, a world with no borders. We believe not anything should suppress the knowledge and the advancement of our fellow human beings”.

They also stated: “Our goal was to create something that gave the greatest amount of benefit to our community members, to provide them with more value for their hard-earned money whilst having the opportunity to make money from AIRCOIN”.

Utilising their time much more productively and most importantly to accomplish this in a 100% absolute secure way. We also wanted to provide a stress-free solution to the exciting and sometimes uncertain times that we live in. As our community grows, so will our ability to provide more resources and benefits for everyone involved and the global community at large of Edgecoin”.

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Having obtained a diploma in Intercultural Communication, Julia continued her studies taking a Master’s degree in Economics and Management. Becoming captured by innovative technologies, Julia turned passionate about exploring emerging techs believing in their ability to transform all spheres of our life.



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Gary Black Thinks Tesla Stock Could Rally Further by Selling BTC Holding and Initiating Buybacks

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Gary Black further noted that institutional investors currently would prefer Tesla to buy back its stock to holding Bitcoin. 

Former CEO Aegon Asset Management US Gary Black thinks Tesla Inc (NASDAQ: TSLA) stock could stop bleeding out if the company sold off its Bitcoin position and initiated stock buybacks. Tesla stocks dropped approximately 27% in the past month to trade around $612.51 at the time of writing according to MarketWatch.

Notably, Tesla reported that it purchased Bitcoins worth $1.5 billion and plans to add the asset in its form of payment. Although the company is still in profit from the Bitcoin position, a respected analyst thinks the company should sell off the Bitcoin position. With the proceeds from the Bitcoin position, Tesla could then initiate its stock buyback to prevent further sell-off.

Gary Black and Tesla Stock

Gary Black further noted that institutional investors currently would prefer Tesla to buyback its stock to holding Bitcoin. “If you asked 100 institutional $tsla, shareholders, would they prefer $tsla to invest $1.5B excess cash in #btc, or $1.5B excess cash in $tsla stock, 95/100 would choose $tsla stock,” Gary noted.

One of his followers challenged him by suggesting that the company should hold on to the Bitcoin position as it finds other avenues to be productive despite the market competition. According to him, in retrospect after a decade Tesla will appreciate its Bitcoin holding greatly.

Tesla stock is up approximately 342% in the past year thanks to the increased demand globally.

Notably, Tesla stocks are down approximately 8% in the past five days. Besides, they were trading around 611.74, down 1.59% during the premarket. Consequently, a survey conducted by media outlet MarketWatch indicates 34 different ratings gave Tesla stock an average of a Hold rating.

At the time of writing, Tesla had a reported market valuation of approximately $626.98 billion with 959.85 million outstanding shares. Tesla stock, however, has been on the uptrend for the past few months.

Tesla stocks have in the past endured bear markets. Tesla CEO Elon Musk unveiled a pair of short shorts to tease investors who were short of Tesla stock.

According to Musk’s past tweets, it is unlikely that the company will sell the Bitcoin position soon. However, according to the SEC filing by the company, the company could change its Bitcoin position if the price drops below the purchase level or the crypto ecosystem is compromised by attackers.

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A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies.
Mythology is my mystery!
“You cannot enslave a mind that knows itself. That values itself. That understands itself.”





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