Generative Art Platform Fxhash Secures $5M in Seed Funding Round Led by 1kx
The Seed Round Fxhash, the groundbreaking generative art platform and marketplace, has successfully closed an oversubscribed $5 million seed fundraising round. Spearheading this investment initiative was 1kx, an early-stage crypto-focused venture capital firm renowned for its strategic ecosystem growth investments. Founded in 2021, Fxhash has emerged as the...
Acurast Announces the Launch of Tezos Native Integration, Expanding Beyond Ghost-Net
Acurast, a platform that helps developers build zero-trust apps, announces the launch of its Tezos native integration.
By: Lee Evans
18 October 2023
Disclaimer
Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.
Following the successful launch of Canary Phase 1, Acurast is moving from Ghostnet to Mainnet on the Tezos Blockchain. This new integration showcases Acurast’s commitment to providing advanced blockchain services, integrating Web2 and other emerging technologies, and ensuring innovation within the Tezos ecosystem.
About Acurast
The Acurast Universe is a platform and protocol designed to enable Web3 projects and enterprises to realize the full potential of universal interoperability. Acurast serves as the foundation of novel use cases, forming a universe of interconnected worlds, and enabling developers to build unstoppable zero-trust applications.
In today’s Web3 space, we can observe some applications are not fully decentralized, and some still operate like a centralized application. For instance, multi-signatures often involve trust in individual parties securing billions of assets in rollups or oracles. This trust also extends to the Web2 space, particularly in cloud computation, where large cloud provider companies (e.g., Google Cloud and AWS) run most of the internet’s backbone, accessing and controlling vast amounts of data.
Acurast setup also includes dedicated mobile devices with robust security primitives. These devices have an inbuilt feature, like a hardware security chip which is leveraged for the trusted execution environment. These security chips in multiple devices enable us to form a decentralized network of computational resources, where anyone can participate with these devices and earn rewards from developers accessing these resources.
What is a Zero Trust Application?
Zero trust applications can be generalized as arbitrary computational tasks, which offer the guarantee to be run as specified and scheduled, without requiring trust in any third parties. There are some similarities to Ethereum smart contracts, which also allow developers to specify computational tasks and allow these to be run by an untrusted network, there are however some major differences: like versatility, confidentiality, and scalability.
“We’re excited about our Tezos native integration, marking our transition from Ghostnet to Mainnet. This move underscores Acurast’s commitment to pushing boundaries in blockchain solutions and championing the full potential of Web3.”
Alessandro DeCarli, co-founder of Acurast
What does this mean for the Tezos Community?
This is going to open up the Tezos developer community to a new world of possibilities and will strengthen the development of more zero-trust decentralized applications with amazing use cases within the Tezos ecosystem.
Developers can utilize Acurast based on their defined needs. For instance, developers who wish to build a gaming application; they would require a Verifiable Random Number for determining game outcomes. Similarly, a developer aiming to create DeFi projects can employ Acurast to source price feeds for smart contracts from a centralized exchange.
Acurast Powered Dapps
Examples of projects that have already been using Acurast in the Tezos space include youves, which secures more than 50M worth of assets and utilizes Acurast as an oracle for price feeds. Besides this, Acurast can also be used for Verifiable Randomness – Acurast has already provided 518,000 verifiable randomness resolutions for commonskeles and Tezos Degen Club.
It can help to Secure Web3 Functions by facilitating interactions with EVM, Bitcoin, Substrate, and Tezos blockchains, enabling users to automate on-chain tasks like yield farming, DeFi strategies, limit orders, Uniswap V3 management, NFT acquisitions, and airdrop participation. In essence, it empowers versatile on-chain automation.
Acurast can be used for Confidential Data Pipeline: Utilizing a scalable confidential computing infrastructure, we securely crawl, manipulate, aggregate, and feed data to machine learning models, ensuring the utmost privacy and scalability.
Furthermore, Acurast empowers the users to make use of running automation (if this then that).
“Acurast is championing the interoperability narrative furthering a growing need for secure cross-chain communication and, more importantly, they are moving the industry a step closer to connecting traditional finance to the decentralised finance world.”
Michael Mendes, Head of DeFi Partnerships at TriliTech, an adoption hub for the Tezos blockchain
How the Tezos Community can participate in Acurast
Using the Acurast Console, users have the option to create a Job to get access to off-chain data, computation, cross-chain communication, and more by becoming a Consumer. Or they can get started as a Processor by providing computational resources with a mobile device and earn rewards.
Processor
Processors are the infrastructure providers of Acurast’s decentralized Execution layer. Leveraging mobile devices and their Trusted Execution Environments to execute the computational requests of Consumers. You can become a Processor in 3 minutes by following this guide and start earning rewards.
Consumer
These are developers who want off-chain data or computation for their various projects. Data consumers are entities that request and retrieve data or computation from Acurast. The data provided by Acurast can be used for a variety of purposes, such as making decisions, executing transactions, or providing information to other systems or users.
To be able to verify values of the tokens that are involved in both the loans and collateral, there should be a trusted decentralized data provider.
An oracle like Acurast provides exactly that. Acurast sources and structures the data in a way that is provided ready for use to Yupana smart contracts on the Tezos blockchain.
Deloitte Luxembourg announces that it will become a Tezos Corporate Baker. As a Corporate Baker, Deloitte Luxembourg will be responsible for validating, securing and adding transactions (blocks) to the Tezos blockchain. This new position allows Deloitte Luxembourg and Tezos to explore synergies in Web3-related topics, alongside other ecosystem stakeholders.
This partnership signals an innovative foray into the realm of digital art collectibles, anchored by a forthcoming exhibition on Vincent van Gogh. Scheduled to commence on October 3, 2023, the highly anticipated exhibition is titled “Van Gogh in Auvers-sur-Oise: The Final Months”.
Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.
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The renowned Cambridge Centre for Carbon Credits (4C) has unveiled the inner workings of its decentralized marketplace dedicated to nature-based solutions. Operating on the Tezos blockchain in collaboration with Cambridge University, this groundbreaking platform seeks to connect carbon credit purchasers with nature-based solution projects, leveraging cutting-edge technology for a greener tomorrow.
In a recent series of tweets, fxhash introduced a powerful new system called ONCHFS, the On-Chain for HTTP File System, marking an evolutionary step for the generative art space.
