Cartesi Launches Inaugural dApp on Ethereum Mainnet

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.

Krafton and Naver Z Unveil a Metaverse Joint Venture ‘Overdare’Krafton, the developer behind the popular shooter game PlayerUnknown’s Battlegrounds (PUBG), made an announcement on Thursday regarding its collaboration with augmented reality company Naver Z for a metaverse platform project. The official name of their joint venture has been revealed as “Overdare.” Furthermore, its forthcoming metaverse service, previously referred to as Migaloo, will also be rebranded under the name Overdare.Photo by Tima Miroshnichenko on PexelsInvestment breakdownThe total investment in the joint venture amounts to KRW 48 billion (approximately $36 million), with Krafton’s anticipated purchase price standing at KRW 40.8 billion and Naver Z’s expected purchase price at KRW 7.2 billion. Following the acquisition, Krafton will hold an 85% stake in the joint venture, while Naver Z will possess the remaining 15%.Meaning behind ‘Overdare’The company has chosen the English word Overdare to convey two meanings–“dare too much” and “over there,” which has a phonetic resemblance. Through this name, the joint venture aspires to establish itself as a pioneer in the realm of interactive user-generated content (UGC) platforms. Simultaneously, its service aims to provide a place where users can freely and fearlessly express themselves.As a mobile UGC platform, Overdare offers users the ability to craft games of diverse genres, including action RPGs, sports games, and shooting games. Leveraging the power of generative artificial intelligence and the advanced capabilities of Unreal Engine 5, a renowned video game engine, the platform facilitates the streamlined creation of top-notch content. Beyond game development, users can immerse themselves in a wide array of social activities, ranging from personalizing their avatars to engaging in lively conversations.C2E systemOverdare has adopted a create-to-earn (C2E) system within the metaverse, empowering creators to produce their own content, which users can then purchase and own. The trading of these creations is facilitated through non-fungible tokens (NFTs) and blockchain technology. Every transaction that takes place within the metaverse is recorded on the blockchain, and creators are duly compensated based on these transaction records. This system enhances the transparency of transactions and settlements.Compensation in USDCIn pursuit of this vision, Overdare has selected Settlus, a Cosmos-based blockchain developed by Krafton’s subsidiary of the same name, as its mainnet. Settlus has been dedicated to licensing creators’ intellectual property through NFTs on Web2 platforms. As part of this ecosystem, creators have the flexibility to receive compensation in USDC, the US dollar-pegged stablecoin issued by crypto company Circle.Overdare has its sights set on a soft launch of its service in December, followed by the official global release planned for the first half of next year.

Dunamu Helps Adolescents Tell the Difference between Blockchain and BitcoinDunamu, the fintech company operating South Korea’s leading crypto exchange Upbit, announced on Thursday that its digital finance education program designed to help foster talent in digital finance amidst the current era of digitization and fintech has come to an end.Photo by Element5 Digital on UnsplashEmpowering digital finance literacy for the future generationDubbed “Duniverse” — a portmanteau of Dunamu and universe — the program was held from May to July for 4,100 middle school students throughout Seoul, Gyeonggi Province, and Incheon. The curriculum proved to enhance their understanding and literacy in digital finance.“Digital finance education for adolescents is essential in addressing various social issues, such as preventing financial accidents and income polarization,” said Lee Sirgoo, CEO of Dunamu.The first Duniverse program was held last year, hosting some 4,800 middle school students in vulnerable areas of Gyeonggi Province. Owing to the positive response, this year’s pool has been expanded to over 7,000 first-year middle school students in Seoul, Gyeonggi Province, and Incheon. In the first half of this year alone, a total of 4,120 students from 17 middle schools participated.The program featured lessons on the technologies of the Fourth Industrial Revolution, such as blockchain, NFTs, and metaverse, as well as basic financial knowledge. A total of eight sessions were led by a team of qualified instructors with years of experience in economic education. Dunamu employees also directly contributed to the review process of educational materials, the company said.Success recognized by students and teachers alikeIn a survey conducted by Dunamu targeting 435 participants, 93.1 percent of them expressed high satisfaction, stating that their understanding of digital finance improved. This portrays a meaningful upgrade from the answers of a previous survey conducted before the start of the program, where six out of ten respondents said that they had little knowledge about digital finance.They also reported that they now understand the difference between digital asset ownership and copyrights as well as blockchain and Bitcoin, and show interest when coming across digital finance-related content in the media.School teachers also praised the program for addressing blind spots in financial education and taking a proactive learning approach. “The students were able to learn about big data, ChatGPT, and more, which is especially valuable since such education for teenagers is still lacking. I believe it will help boost their competitiveness in the future job market,” said a teacher from Goam Middle School in Yangju, Gyeonggi Province.The teachers also approved of other topics that were covered, such as financial fraud prevention, to help teenagers avoid falling victim to financial scams. Suggestions were also made to expand teacher training courses.Upcoming programThis year’s second Duniverse program will be held from August to December for 2,712 middle school students in Seoul, Gyeonggi Province, and Incheon.Dunamu has continually devoted efforts to boosting social welfare and nurturing young talent. This includes “Dunamu Next Steppers,” a hope fund for young people with multiple debts, along with supporting emerging talents and artists with developmental disabilities in their participation in NFT projects.