Netmarble’s Blockchain Platform Plans Tokenomics Overhaul for MBX Token

Bitmain Planning Mining Equipment Support For Aleo BlockchainBitmain, the leading Beijing-headquartered crypto mining rig manufacturer, is set to bolster the proof-of-work (PoW) blockchain network of Aleo with its upcoming Antminer release.The firm announced its intentions via a social media post which was published on WeChat on Monday. The move follows Bitmain’s recent introductions of Filecoin and Kaspa mining machines and its latest series of Bitcoin miners.Photo by RDNE Stock project on PexelsEnhanced privacy through zk proofsBitmain plans to unveil a miner compatible with the forthcoming Aleo blockchain network which is currently in testnet mode. Aleo’s PoW blockchain promises to bring enhanced privacy through zero-knowledge (zk) proofs while retaining programmability. Zk proofs represent a cryptographic advancement insofar as they can verify data while it remains encrypted and undisclosed to the verifying party. The blockchain network adopts a statically typed programming language inspired by Rust, known as Leo.Aleo has been gaining significant attention in the crypto space, much like other venture capital-backed layer 1 blockchains, including Solana, Aptos, and NEAR, before their respective debuts. In April 2021, Aleo’s team successfully secured $28 million in a Series A funding round, with Andreessen Horowitz (a16z) leading the way.Aleo’s journey reached new heights in February 2022 when its Series B funding round raised a substantial $200 million, pushing the project into unicorn status. This funding round was jointly led by Softbank Vision Fund 2 and Kora Management LP, with participation from a16z, Tiger Global, Sea Capital, Slow Ventures, and Samsung Next.Latest in series of product launchesBitmain’s announcement is part of a series of product launches in recent months. In July, the company unveiled a mining rig designed for Filecoin (FIL). The following month marked the shipment of Bitmain’s Kaspa (KAS) mining machines. Shortly after the Kaspa deliveries, Bitmain revealed plans for an August release of a Monero (XMR) mining rig. Most recently, Bitmain introduced two next-generation Bitcoin (BTC) miners from the S21 series.The Chinese crypto mining equipment manufacturer has faced financial challenges in recent times. In April, it emerged that the company had been fined by the Chinese authorities for tax irregularities.Earlier this month, reports suggested that the company was experiencing liquidity issues. It failed to pay some of its employees although it later resolved the matter. Reports of staff payment difficulties surfaced two weeks ago. Arising out of that episode, the company subsequently fired three employees for posting information about salary payment issues on social media.Nevertheless, the firm managed to secure two contracts with US-based mining operations following those reports. In these contracts, Bitmain sold a combined 5.8 exahash per second (EH/s) of its new S21 Antminers to Iris Energy and Cleanspark. In September, Bitmain finalized a deal with troubled crypto miner Core Scientific that will see the firm supply the restructured company with 27,000 Bitcoin miners.The company has been blighted by internal conflicts going back a number of years between co-founders Jihan Wu and Zhan Ketuan. Subsequently Wu went on to found Singapore-headquartered crypto cloud mining platform Bitdeer.

The Label Foundation is working with global electronics conglomerate LG Electronics to rollout its Web3 music streaming service, Tracks, on LG Smart TVs, according to an article by Bitcoinist on Monday (KST). The platform’s TV app will be available for free on the latest LG Smart TV models that support webOS22 and 23.Photo by Blaz Photo on UnsplashReinvented music streamingTracks is a music streaming service that allows users to enjoy free high-quality music and artistic visuals through their TVs. The platform leverages Web3 technology to offer a variety of rewards based on the amount of time spent listening. In particular, the Label Foundation aims to make Tracks easily accessible to Web2 users around the world to serve as a bridge between Web2 and Web3. “With the upcoming launch, numerous TV owners will be able to enjoy music for free, which resonates deeply with Label’s ethos, championing universal music accessibility without financial boundaries. We are happy that our collaboration with LG Electronics made this a reality,” Label Foundation said. Rapid riseSince its launch in July, Tracks has gained substantial popularity among younger generations, with its mobile app amassing over 150,000 users worldwide and more than 10,000 daily active users. The Label Foundation attributes this success in user acquisition to its user-centered approach, as opposed to the content provider-centered approach of traditional music streaming services.  As part of its monetization efforts, Tracks will also integrate a free advertising supported streaming television (FAST) service in the near future, which will allow users to access content like television programming and films without subscription fees.

Hana Financial and FSS join hands to foster young digital talentHana Financial Group said Sunday that the South Korean financial holding company held a proclamation ceremony for the second Hana Digital Power On Project last Thursday — a program designed to cultivate young digital talent in emerging technologies like blockchain and big data — at the Hana Global Campus in Incheon.Support from tech juggernautsThe program, sponsored by the Korean Financial Supervisory Service (FSS) and several tech giants such as Google, Amazon Web Services, Microsoft, and SK Telecom, was first held last year. This year’s project saw the participation of over 50 individuals forming 16 teams, Hana said.Photo by Marvin Meyer on UnsplashCompetitions and trainingA contest centered around new digital technology was also held on the same day. Participating teams proposed ideas for solving issues that may arise in the financial industry using artificial intelligence, blockchain, cloud computing, and big data technologies.Winning teams will be rewarded up to KRW 10 million (approximately $7,500) in prize money along with the opportunity to visit several information technology companies. They will also have the chance to participate in a hackathon competition organized by SK Telecom to further develop their ideas.They will also undergo a four-week digital education program put together by Google, Microsoft, and Amazon, as well as practical training provided by the Hana Institute of Technology. Notably, graduates of the program will be exempt from going through the initial screening process when applying for positions at Hana Financial Group.Officials including Lee Bok-hyun, Governor of the FSS; Lee Hoon-kyu, Director of Future for Youth Foundation; and Ham Young-joo, Chairman of Hana Financial Group, were in attendance.“We will strive to cultivate young digital talent and create employment opportunities for the youth,” said Hana Chairman Ham. FSS Governor Lee also added that there is a need to secure interdisciplinary talents capable of generating innovative ideas.