The US Department of Energy is working on developing a blockchain-based system to protect its power grids from potential cyberattacks. This and more news is in this handy daily roundup so you're always up to date with the latest events happening within the crypto world.
Blockchain, a shield for the security of electrical networks
📍The US Department of Energy (DOE) is exploring the potential of Blockchain to protect the electric grid. Blockchain technology can significantly help the Department of Energy safeguard the security and stability of the electric grid, preventing potential cyberattacks.
DOE is working on developing a blockchain-based system that will allow devices on the power grid to be assigned a hash number. The system will allow the monitoring of the hashes of each device to detect anomalies, manipulations or illegal changes immediately, Ledger Insights said.
The department has been researching blockchain’s potential to defend power grids against cyberattacks since 2017, when it launched a research program to look for blockchain-based proposals that would make its grids less vulnerable to cyberattacks.
The Man Group wants to launch a Bitcoin hedge fund this year
📍The Man Group to launch Bitcoin hedge fund According to Bloomberg, The Man Group, one of the world's largest hedge fund firms, will delve deeper into the cryptocurrency market through a hedge fund dedicated to BitcoinThe initiative is led by fund manager The Man AHL, the financial media outlet reported.
The new crypto hedge fund is also likely to be available by the end of this year.
London-listed The Man Group referred to Bitcoin’s volatility last year as part of the cryptocurrency’s “price discovery” process, which represents a new asset class.
The launch plans for this new Bitcoin hedge fund are announced amid a bear market accentuated by the collapse of the FTX exchange.
ZkSync 2.0 is solid, says OpenZeppelin
📍ZkSync 2.0 code has passed the first audit conducted by blockchain auditing and security firm OpenZeppelin. On their Twitter account, the developers of the Ethereum scalability solution based on zero-knowledge (ZK) proof technology reported the results of the audit conducted by the security firm, highlighting that the code design of the new version of the scalability protocol is solid.
ZkSync developers pointed out that during the audit, OpenZeppelin did not identify any critical security issues in its code.
However, in order to maintain and strengthen the security of its code and offer protection to its users, in the coming months ZkSync will implement a bug bounty program, as well as cybersecurity contests, hackathons and other additional security measures.
Art of This Millennium, by “Vincent Van Dough”
📍NFT collector Vincent Van Dough has launched an exclusive NFT gallery featuring 32 prestigious artists. The new gallery, called Art of This Millennium, features works by different artists such as Grant Yun, Claire Silver, Cath Simard, and Dmitri Cherniak, among others. Among the services listed by this new NFT art gallery are curated works, marketing, and exhibitions, among other services.
“Vincent Van Dough” explained that Art of This Millennium is a gallery specializing in contemporary digital art that will help world-class creators contextualize their work and magnify its social importance to usher in the renaissance of digital art.
NFT marketplace for Yuga Labs crypto collections launches
📍Bored Ape, Mutant Ape, Otherdeed and Kennel Club, the four NFT crypto collections created by Yuga Labs, will have their own NFT marketplace. A new NFT marketplace platform has been launched by the ApeCoin DAO project to provide holders of these crypto collectibles with a space to exchange their NFTs and interact with each other.
However, according to The Block, the new marketplace only supports NFT collections initially built by Yuga Labs, so the rest of the crypto collections acquired by the company, such as CryptoPunks and Meebits, are not available within this marketplace.
Continue reading: Shiba Inu and the World Economic Forum will work on the metaverse
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