The number of active addresses on the Litecoin network reflects its growing usage and adoption in the blockchain industry. This and more news is in this handy daily digest so that you are always up to date with the latest events happening within the crypto world.
Litecoin breaks new highs
📍Four months after the Litecoin halving, the network has reached a new all-time high in the number of active addresses. On-chain data shows that active addresses on the Litecoin network hit a new record of 1,4 million on Dec. 8, setting a new all-time high for the blockchain.
The IntoTheBlock platform highlighted that this new milestone, in the number of active Litecoin addresses, was reached only four months after the arrival of the halving on the network.
Litecoin developers also indicated that in just one week, the blockchain network has processed more than 3 million transactions, a volume that represents the sustained growth that the blockchain has had in recent months. However, the impact of the halving and the growing adoption of the network is not reflected in the price of LTC, which is currently trading lower, around $71 per unit.
China develops a new identity system on blockchain
📍China's new efforts with blockchain technology aim to create a digital identity network, which allows users' real-life identities to be verified while preserving privacy. According to several media reports, the Asian power has presented, from Beijing, a new identification system based on blockchain that promises to maintain a balance between anonymity, privacy and verification of real identity.
This new identification system, which is based on China's national blockchain, the Blockchain Services Network (BSN), guarantees front-end anonymity and back-end real-name verification, constituting an innovative system that prioritizes the privacy and security of user data, according to the web version of the WeChat app, Weixin.
El report It also notes that the Chinese government will launch several application scenarios of the new system, such as a personal data verification service, a personal data encryption and transfer service, and a DID credential issuance service, among others, to test its capabilities.
According to Weixin, these application scenarios will allow users to “choose to disclose different personal information to different trading platforms, so that the trading platform only needs to obtain necessary and minimum information,” thereby improving data security and protection.
2024, a year for the expansion of Animoca Brands
📍Web3 gaming software and investment company Animoca Brands has revealed that it will take a new approach next year to explore new opportunities. Robby Yung, co-founder and CEO of Animoca Brands, has revealed the company’s plans to advance creator empowerment in Web3, in anticipation of the opportunities coming to the crypto industry next year.
Yung assured that Animoca Brands will continue to support companies and projects that are part of the Web3 ecosystem, encouraging their development and growth, but that it will also focus on consolidating the vision that started the Mocaverse project, to broaden and expand this universe as much as possible in order to allow content creators to monetize their creations in a simpler, more fluid, efficient and fair way.
According to Yung, the new approach the company will take in 2024 will allow creators to benefit more directly from the opportunities offered by the blockchain industry and the Web3 ecosystem.
Continue reading: Google revises its advertising rules in anticipation of possible Bitcoin ETF launch
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