DeSpread partners with Arbitrum to build ecosystem for Korean developers

Korbit, Ewha-Chain Leverage NFTs to Promote Blockchain KnowledgeEwha-Chain, a blockchain study group at Ewha Womans University, recently tweeted that it has collaborated with Korbit, one of South Korea’s leading cryptocurrency exchanges, to hold an non-fungible token (NFT) airdrop event for college students, offering free ice cream as an incentive.Hands-on experienceThe event aims to introduce participants to the crypto exchange and provide hands-on experience with Web3 and blockchain technology, as well as showcasing the benefits of NFTs.To participate, students have to create a Korbit account using their email address and register for an Ice-Chain NFT by completing a Google Form. Korbit will distribute the NFTs on the afternoon of May 11, the day before the event.Free ice creamOn the day of the event, Ice-Chain NFT holders can visit the Ewha Womans University branch of the Ice Girl Cream Boy ice cream shop to spin a wheel and win either free ice cream or Korbit merchandise.According to Korean economic news media Paxetv, Kim Il-kwon, head of business development at Korbit, said that the Ice-Chain event strives to familiarize university students with blockchain technology and promote the Korbit brand. Kim added that Korbit is dedicated to ongoing cooperation with Ewha-Chain and expanding channels to engage with millennials and Generation Z.Photo by ROMAN ODINTSOV on Pexels

Bitdeer Technologies, led by Jihan Wu and based in Singapore, has unveiled the very latest development in the world of Bitcoin mining technology with the announcement of the successful testing of its proprietary Bitcoin mining chip, slated for integration into its forthcoming mining rig. In addition, the firm has followed up on March 4 with the publication of financial results for Q4 2023.Photo by Thought Catalog on UnsplashSealminer A1The company revealed on X that its inaugural crypto mining chip, known as the SEAL01, destined to drive the Sealminer A1 mining rig, was engineered utilizing four-nanometer process technology, a feat achieved in collaboration with a semiconductor fabricator. Bitdeer boasts that this chip exhibits a power efficiency ratio of 18.1 J/TH. At the heart of Bitdeer's latest achievement lies the SEAL01 chip, the culmination of years of dedicated research and development. By harnessing state-of-the-art technology and meticulous planning, Bitdeer aims to tackle the pressing challenges confronting Bitcoin miners, including skyrocketing operational costs and environmental implications. The company claims that the efficiency of the SEAL01 chip not only promises a shift towards more sustainable mining practices but also holds the potential to significantly reduce energy consumption, thereby bolstering profitability and return on investment for miners. "This powerful chip offers enhanced Bitcoin mining performance with minimized power consumption, leading to lower operating costs and a reduced environmental footprint for miners," Bitdeer affirmed in the X post. The firm stopped short of disclosing the launch timeline for its upcoming mining rig. On the financial front, Bitdeer disclosed its financial results for Q4 2023, on March 4. The company reported a total of 111,966,634 outstanding ordinary shares as of Dec. 31, 2023, including class A and class V ordinary shares. Additionally, Bitdeer revealed key operational metrics for Q4 2023, including total Bitcoin mined, power usage across its mining data centers, average cost of electricity and miner efficiency. Bitdeer's shares closed up 2.11% at $6.76 on Nasdaq on Friday, indicating a positive market response to its recent newly developed Bitcoin mining chip. However, trading outside regular hours, going into March 4, have seen the share price peak at $7.52, yet having retraced to $6.9 at the time of writing. That may indicate that investors are not particularly enthralled by the firm’s Q4 2023 results. Bitdeer emphasizes that the SEAL01 chip is engineered to meet the evolving demands of the cryptocurrency mining industry. As mining activities continue to gain traction and market dynamics evolve, the adaptability of hardware solutions becomes paramount. Bitdeer's strategic emphasis on innovation with the SEAL01 chip aims to pave the way for future advancements in cryptocurrency mining technology, ultimately fostering the growth and sustainability of the industry. Moreover, Bitdeer asserts that the newly developed chip enables it to optimize efficiency, stability and performance in anticipation of the upcoming Bitcoin halving event slated for April. Last month, the company’s founder Jihan Wu was installed as CEO, in a move that is understood to better position the company as it transitions to a growth phase.

Ubisoft Joins Cronos as a Network ValidatorUbisoft, a world-renowned video game publisher, distributor, and creator, has entered into an exclusive partnership with Cronos, a prominent blockchain inter-operating with the Cosmos and Ethereum blockchain ecosystems. Cronos and its native CRO token were established by Singapore’s Crypto.com.According to a blog post published by Cronos Labs on Tuesday, the collaboration aims to explore the potential of blockchain technology, with Ubisoft becoming a new node validator on the Cronos network through its Strategic Innovation Lab.Photo by Ketut Subiyanto on Pexels27 node operatorsAs part of this initiative, Ubisoft joins a pool of 27 other node operators on the open-source Cronos blockchain. By doing so, the company aims to contribute to the network’s security and stability. Each node actively participates in the decentralized validation of transactions, ensuring the timely development of new blocks at intervals of 5 to 6 seconds.Cronos’ strategic approach focuses on collaborating with open-source validators and contributors who have a strong technical track record. Ubisoft’s expertise in developing immersive and engaging gaming experiences through the adoption of cutting-edge technologies aligns perfectly with Cronos’ vision. Notable existing contributors to the Cronos blockchain include Allnodes, Dora Factory, Blockdaemon, and Crypto.com, among others.Contributing towards governanceAs a validator, Ubisoft will play a vital role in the blockchain’s governance and the authorization of network updates. This partnership is a natural progression of the long-standing relationship between the two companies. Ubisoft has been actively involved in the Cronos Accelerator project as a venture mentor, fostering a strong foundation for their collaboration.Commenting on the partnership, Ken Timsit, Managing Director of Cronos Labs, revealed that Cronos Labs has had ongoing communications with the Ubisoft team for years. He emphasized Ubisoft’s unparalleled understanding of the blockchain sector’s potential and limitations, particularly in connecting gamers and creators.With Ubisoft’s involvement as a validator, Cronos blockchain is set to strengthen its security, enhance network governance, and open up new possibilities for the integration of gaming and blockchain technology. This strategic collaboration is expected to propel both companies towards innovative advancements in the ever-evolving world of blockchain and gaming.Positive developmentThe partnership between Ubisoft and Cronos holds promise for the future of blockchain technology in the gaming industry. It’s a shot in the arm for blockchain and Web3, given Ubisoft’s standing in the gaming industry, and considering that Ubisoft itself and many other headline firms in gaming seemed to have cooled their interest in the emerging space.In a recent interview, the Co-Chief Operating Officer of video gaming behemoth Sega, had described blockchain gaming projects as “boring” while outlining that the company was scaling back its interest in Web3 and blockchain.In this instance, however, as both Cronos Labs and Ubisoft leverage their expertise and resources, the potential for groundbreaking innovations and seamless integration between gaming and blockchain is within reach.This collaboration underscores the growing recognition of blockchain’s transformative power in revolutionizing various industries, including gaming. Together, Ubisoft and Cronos are poised to make significant contributions to shaping the future of blockchain technology and its applications in gaming.