Lykke Wallet, a Swiss-based crypto exchange platform, announced today it is currently performing a vital step in the continuous process to improve its service with the migration to a new exchange architecture.
For several months, the Lykke team has been steadily migrating the building blocks of its exchange infrastructure to Sirius, a dedicated solution developed by a Swiss tech company SwissChain.
SwissChain is a Lykke talent spin-off specialized in blockchain technology. It is one of quite a few entities that offers businesses a full range of services for self-managed custody and management solutions. Sirius is one of the key offerings of the company, it combines a blockchain engine with a custody solution.
Aside from blockchain infrastructure and custody components, Sirius supports functionalities such as smart contracts, staking, and settlement to name a few. Furthermore, it also allows for the integration of various DeFi systems and protocols, such as accessing DEXs, dApps, and more.
This system migration will be an ongoing process and currently has no ETA.The Lykke Wallet exchange has been on the market for more than five years, it’s a fully functional trading environment that combines a web terminal and mobile device applications. It is a trading venue that creates conditions for ultimately cost-efficient transactions with the trading fees being zero and the buy-sell spreads low. To maintain these conditions, a whole system composed of a blockchain engine, nodes, integrations, and various add-ons is necessary. This system offers an all-in-one trading solution for cryptocurrency trading and forex: it integrates a KYC-verification system, a fiat gateway, an API for automated trading, a possibility to generate trading history for tax purposes, etc. The underlying architecture allows for the creation of trading and private wallets, supports the necessary nodes to integrate new blockchains, and, last, but not least, maintains high-security standards to protect the users’ funds. All this system has to be maintained and constantly updated to meet the needs of the maturing market and the growing user base of Lykke. Its seamless functioning requires a continuous effort of a whole development team. So even when it looks like nothing is really happening, in reality, a whole team of professionals works full-time to guarantee the system’s seamless functionality.
– The Lykke Team
What does the current migration mean to Lykke and its users?
First of all, Sirius is a product tailored to the needs of blockchain-powered businesses. It combines the necessary elements of blockchain infrastructure with other value-add items.
In particular, it includes a dedicated custody solution developed specifically for safe storage purposes. Lykke’s hot wallet will be migrated to custody to enhance the security level. This means that Lykke users’ trading wallets will be moved to custody as well, bringing more security and peace of mind to all.
Importantly, Sirius is also designed to enable faster and easier blockchain integrations. Building a node for a new blockchain integration is now a standardized process based on a prefabricated architecture. With the migration, the integration of new crypto assets on Lykke is now a smoother process.
Finally, it is important to specify that the new Lykke system is highly scalable. As the Lykke user base grows, the system must be able to maintain operability during trading peaks and prime hours regardless of the number of users simultaneously executing their transactions.
What users can expect?
The process of migration will not affect users in a major way. The only action that will be required is paying attention to the notifications about new deposit addresses. As a blockchain is migrated to Sirius, each user will be assigned a new corresponding deposit address.
Newly integrated blockchains including Tezos, Cardano, Polkadot, and Dogecoin, are already hosted in Sirius and other blockchains will continue to be migrated.
Another improvement on the way will introduce the whitelisting of addresses for API traders. Users will be able to whitelist withdrawal addresses to enable arbitrage or
Title: Lykke set to overhaul its crypto platform’s exchange infrastructure
Sourced From: www.cryptoninjas.net/2021/10/29/lykke-set-to-overhaul-its-crypto-platforms-exchange-infrastructure/
Published Date: Fri, 29 Oct 2021 03:11:22 +0000
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LATAM crypto exchange Bitso and FMF launch NFT of Mexico’s National Team jerseys
Bitso, a leading cryptocurrency platform operating in Latin America, and the Mexican Football Federation (FMF), today announced the joint launch of the first collectible NFT of the Mexico National Team’s jerseys that was acquired in cryptocurrencies.
This morning through their social media platforms, the FMF and Bitso announced the opportunity to acquire the new official National Team fan jerseys ahead of the team’s participation in the 2022 World Cup. In just 20 minutes, the entire collection sold out.
The NFTs of the jerseys have an exclusive design for the metaverse – each is unique on the blockchain and can be resold by its owner in subsequent transactions.
The collection consisted of 100 official physical jerseys, each with a corresponding NFT version of the jersey that fans’ avatars can wear within the Decentraland metaverse. Each physical and NFT jersey set sold for the equivalent of $1,800 MXN in ethers.
“Our mission is to make cryptocurrency useful in the everyday life of Mexicans; we are committed to spreading the technology through innovative opportunities that help people throughout the country familiarize themselves with this new world. We are very excited to offer the incredible, historic opportunity for the fans of our National Team so that through their Bitso account, they can wear the colors of the National Team on and ‘off’ the field in the metaverse.”
– Bárbara González Briseño, General Director of Bitso México
Created by Bitso, the virtual jersey sports the official colors of Mexico and the new National Team shield, characteristics that will make it stand out when users wear it in the virtual world of Decentraland.
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Title: LATAM crypto exchange Bitso and FMF launch NFT of Mexico’s National Team jerseys
Sourced From: www.cryptoninjas.net/2022/07/29/latam-crypto-exchange-bitso-and-fmf-launch-nft-of-mexicos-national-team-jerseys/
Published Date: Fri, 29 Jul 2022 15:19:02 +0000
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Long-running crypto exchange EXMO unveils “lively” rebrand amidst growth
EXMO, a crypto exchange platform operating since 2014, announced this week a rebranded visual identity with includes a new logo, brand colors, and design features. This new branding comes as EXMO continues to grow its crypto platform while also seeking to expand its presence in other jurisdictions.
Some new developments underway at EXMO:
Soon, users will be able to earn passive income from EXMO’s new staking platform.Plans to launch an EXMO crypto debit card.Expansion of its services in international markets with the opening of offices in Poland and Lithuania.
EXMO’s new logo
The rationale for the re-brand:
“At EXMO, we have a vision of a world where crypto is in every wallet. Hassle-free. We want to achieve this by making crypto as simple and accessible to everyone as possible. And we know that you already appreciate EXMO for offering user-friendly services and helpful support. Also for the opportunity to trade anywhere and anytime, closing deals in just a few taps. Such important changes required a rethinking of our corporate style, which has long needed a massive upgrade. So today we are introducing a new brand identity for EXMO with a completely new visual concept. We are launching a new logo, brand colors, and design elements. Our key design principles are simplicity, boldness, and a pinch of fun. But most importantly, we have changed our logo. Simple and easily recognizable, it represents the humanity of our brand. The logo stands out due to the wavy letter ‘m’ which symbolizes exchange rate charts and also resembles a spring that will launch you into the crypto world.”
– The EXMO Team regarding the re-branding
The post Long-running crypto exchange EXMO unveils “lively” rebrand amidst growth appeared first on CryptoNinjas.
Title: Long-running crypto exchange EXMO unveils “lively” rebrand amidst growth
Sourced From: www.cryptoninjas.net/2022/07/26/long-running-crypto-exchange-exmo-unveils-lively-rebrand-amidst-growth/
Published Date: Tue, 26 Jul 2022 08:10:38 +0000
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Stitching together the grid will save lives as extreme weather worsens
The blistering heat waves that set temperature records across much of the US in recent days have strained electricity systems, threatening to knock out power in vulnerable regions of the country.
The electricity has largely stayed online so far this summer, but there have been scattered problems and close calls already.
Heavy use of energy-sucking air-conditioners is the biggest problem. But intense heat can also reduce the output of power plants, blow transformers, and force power lines to sag. Severe droughts across large parts of the country have also significantly reduced the availability of hydroelectric power, according to the North American Electric Reliability Corporation (NERC).
It’s unlikely to get better soon. A number of grid operators may struggle to meet peak summer demand, creating the risk of rolling blackouts, the NERC report notes.
The nation’s isolated and antiquated grids are in desperate need of upgrades to keep the lights, heat, and air-conditioning on in the midst of extreme weather events that climate change is making more common, severe, and dangerous. One clear way to ease many of these issues is to more tightly integrate the country’s regional grids, stitching them together with more long-range transmission lines.
If electricity generated in one area can be more easily shared across much wider regions, power can simply flow to where it’s needed at those moments when customers crank up air-conditioners en masse, or when power plants or fuel supply lines fail amid soaring temperatures, wildfires, hurricanes, or other events, says Liza Reed, a research manager focused on transmission at the Niskanen Center, a Washington, DC, think tank.
The problem is it’s proved difficult to build more long-range transmission and grid interconnections for a variety of reasons, including the permitting challenges of erecting wires through private and public lands across cities, counties, and states and the reluctance of local authorities to forfeit control or submit to greater federal oversight.
The case of Texas
The unreliability of the US grid is not a new problem. Severe heat and winter storms have repeatedly exposed the frailty of electricity systems in recent years, leaving thousands to millions of people without power as temperatures spiked or plunged.
One of the fundamental challenges is that the grids today are highly fragmented. There are three main electricity networks within the US: the Eastern Grid, the Western Grid, and the Electric Reliability Council of Texas (ERCOT). But there are numerous regional transmission organizations within those first two systems, including the California Independent System Operator, Southwest Power Pool, PJM Interconnection, New York ISO, and more.
These grids form a complex web of networks operating under different regulators, rules and market structures, and often with limited connections between them.
A variety of regional transmission organizations oversee different parts of the nation’s aging and fragmented grids, which operate under different rules and with often limited connections between them.
ERCOT is especially isolated, in part because of the desire among local politicians, citizens, and power companies to avoid added competition, the hassle of following other states’ rules, and oversight from the Federal Energy Regulatory Commission (FERC). But the state offers a case study in why that can be a serious problem amid increasingly harsh climate conditions, Reed says.
The Texas grid operator pleaded with customers several times earlier this month to cut electricity use as blistering summer temperatures created demand surges that threatened to outstrip supply and require rolling blackouts. Low wind conditions, cloud cover, and outages at fossil-fuel power plants added to the strains.
Shutting off the electricity needed to run air-conditioning in triple-digit temperatures
By: James Temple
Title: Stitching together the grid will save lives as extreme weather worsens
Sourced From: www.technologyreview.com/2022/07/28/1056483/stitching-together-the-grid-will-save-lives-as-extreme-weather-worsens/
Published Date: Thu, 28 Jul 2022 08:00:00 +0000
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