Korean Financial Regulator to Inspect Non-Fiat Crypto Trading Platform

Cartesi Launches Inaugural dApp on Ethereum MainnetSingapore-based Cartesi, the app-specific roll-up protocol with a virtual machine running Linux distributions, has introduced its inaugural dApp.The decentralized application, aptly named Honeypot, has been designed to serve as a platform for developers and ethical hackers to rigorously scrutinize the security of the Cartesi protocol’s underlying codebase, all in exchange for lucrative bounties.Photo by Michael Förtsch on UnsplashHoneypot deploymentAccording to a press release published on Tuesday, Honeypot is set to fulfill the vital role of stress-testing Cartesi’s foundational code on the Ethereum mainnet. The successful deployment of Honeypot will pave the way for Cartesi’s technology to be employed in a multitude of other dApps. Notably, a unique aspect of Honeypot is the tempting incentive it offers. The first individual to successfully hack it will be entitled to drain the sum of 1.77 million Cartesi tokens, equivalent to $220,000, after one year without any constraints.Embedded within the Honeypot dApp’s backend code is an algorithm that only permits the Cartesi Foundation’s depositor account to make fund withdrawals. Participants who dare to take on this code-breaking challenge must successfully navigate the intricacies of the algorithm to claim the reward.Developer Advocacy contributor to Cartesi, Gabriel Barros, stated: “We want to welcome all developers to test Cartesi’s Rollup infrastructure — but in a gamified challenge.”Aiding dApp developmentCartesi stands as a Layer 2 network specifically designed to streamline the development of intricate and powerful dApps. Its mission is to bridge the gap between conventional development practices and blockchain-based solutions, attempting to offer a seamless transition for developers.At its core, Cartesi introduces a mechanism that enables dApps to execute resource-intensive computations off-chain within a Linux environment. Crucially, these off-chain computations are verifiable by the blockchain, ensuring that the final results remain consistent across all nodes. This approach empowers developers to harness existing software and tools while ensuring compatibility with the blockchain.Linux insideThe choice of a Linux environment is pivotal to Cartesi’s framework. Linux enjoys widespread usage worldwide, particularly in server environments, making it a familiar and well-adopted platform. This familiarity extends to the extensive array of tools and libraries available within the Linux ecosystem, which are leveraged by developers for a myriad of traditional web applications.Gabriel Barros underlined Cartesi’s mission, stating:“Cartesi’s goal is to eliminate the limitations Web3 developers face by enabling them to import decades of familiar programming tools, libraries, and languages to the blockchain. By doing so, Cartesi unlocks a new realm of possibilities, allowing developers to surpass what was previously imaginable with earlier web3 applications.”Cartesi’s introduction of the Honeypot dApp on the Ethereum mainnet signifies a significant step towards ensuring the security and robustness of its protocol. Furthermore, it demonstrates Cartesi’s intentions in attempting to foster a vibrant and innovative ecosystem for developers in the blockchain space.

The SUI token has surged to an all-time high (ATH) price after the revelation of the project’s partnership with the American University of Sharjah (AUS) in the United Arab Emirates (UAE) to establish the AUS-Sui Blockchain Academy. SUI is the native token of the Sui blockchain, a layer one blockchain network and smart contract platform that’s striving to make digital asset ownership private, secure and accessible. The AUS-Sui Blockchain AcademyAccording to a press release published via regional news media outlet Zawya on Monday, the AUS-Sui Blockchain Academy is situated within the multidisciplinary Center of Entrepreneurship, Innovation and Sustainable Development, within the AUS. It’s been set out to align with the principles of entrepreneurship, innovation and sustainability with the objective of fostering responsible and impactful technological advancement relative to blockchain. The Academy aims to equip the next generation of leaders and innovators with the necessary knowledge to harness Web3 technology so as to address future global challenges. Dr. Greg Siourouni, Managing Director of the Sui Foundation, expressed enthusiasm for the blockchain education initiative, emphasizing its role in advancing Sharjah's goal of becoming a leading educational and research hub.Photo by Ainur Kamaev on UnsplashPrice surgeIn response to the announcement, SUI's token price has surged. While it’s up 4% over the course of the past 24 hours, the token is now standing at a record-high unit price of $1.79 since its launch in May 2023. The positive momentum in SUI's price underscores market enthusiasm for the layer-1 blockchain platform's educational initiatives. However, other in-roads being made by the project may also be playing a role. Last September the project launched zkLogin, a Web3 authentication solution that enables dApp users to login using social media accounts. The following month, the Sui Foundation announced a $50 million ecosystem fund in an effort to bolster growth relative to the Sui network. AUS and SUI blockchain education initiativesThis latest initiative is part of Sharjah's vision to position itself as a regional powerhouse for education and research, particularly in the realm of technology and blockchain. It’s not the first blockchain-centric collaboration that the university has engaged in. In June of last year, Dubai-headquartered crypto spot and derivatives trading platform Bybit partnered with AUS to establish a scholarship fund of $272,000. That endeavor is supporting fintech and blockchain studies for the benefit of 20 students. The Sui Foundation too has established a track record where educational initiatives are concerned. It has previously introduced several programs, including a Web3-focused curriculum at the Wheeler Institute for Business and Development at the London Business School. Additionally, it awarded $400,000 in Sui Academic Research Awards (SARAs) to 15 universities worldwide and introduced a Web3 curriculum for high school students. SUI's partnership with AUS to establish the AUS-Sui Blockchain Academy reflects its commitment to advancing education and innovation in the blockchain space, while its price surge is suggestive of market optimism for its future endeavors. 

SAND Token to be Listed on Japanese Crypto Exchange bitFlyerJapanese crypto exchange bitFlyer has recently announced its plans to list The Sandbox (SAND) on its trading platform, making it the 22nd crypto asset to be available on bitFlyer. Specific details are yet to be announced. This move reflects bitFlyer’s commitment to expanding its offering and providing customers with more investment options and opportunities in the realm of Web3.Photo by Shubham Dhage on UnsplashGlobal presenceFounded in 2014 with a mission to simplify the world through blockchain technology, bitFlyer has taken its crypto asset trading business to the global stage. Its expansion includes sister companies bitFlyer USA and bitFlyer Europe, which have allowed the exchange to extend its reach beyond Japan.Blockchain-powered metaverseThe Sandbox is a metaverse platform that harnesses the power of blockchain technology, empowering users to create and possess digital content using the platform’s tools. Moreover, The Sandbox features virtual land called LAND, which is regularly utilized by companies for hosting events and various other activities. At the heart of this ecosystem lies the SAND token, which enables users to trade user-generated content, participate in governance by voting, and engage in staking.Attention in East AsiaNotably, The Sandbox has been generating significant attention in East Asia. Last month, the metaverse platform initiated an event titled “Hallyu Rising,” collaborating with renowned Korean brand partners, including automaker Renault Korea. As part of this event, Renault Korea launched the Renault Korea Hub within The Sandbox’s environment. This hub gives car enthusiasts a unique chance to design their own vehicles and enjoy exclusive experiences. The event also included a land sale, offering users the chance to acquire LAND adjacent to the Korean brands, thereby encouraging more active user engagement.