The Chamber of Digital Commerce has launched the Digital Power Network to drive new energy policies that foster US innovation in cryptocurrency mining. This and more news in this handy daily roundup so you're always up to date with the latest events happening within the crypto world.
Digital Power Network, an organization to drive innovation in the crypto mining industry
📍The Digital Power Network will help the United States lead the way in the digital energy revolution. The Chamber of Digital Commerce has teamed up with cryptocurrency miners to create a new organization, called the Digital Power Network, focused on promoting the formulation of new energy policies that encourage the development of crypto mining and shape the future of the digital energy sector in the United States.
Digital Power Network is comprised of the largest cryptocurrency mining companies in the United States and around the world, including Argo, BitDigital, BitFarms, Coinmint, Cipher Mining, DigitHost, Hive, Marathon, Riot Platforms, Sustainable Bitcoin Protocol, and Terawulf.
Through this organization, the Digital Chamber of Commerce seeks to create new tools that allow it to continue defending the innovation of the crypto industry and give a voice to cryptocurrency miners, who are contributing to investment in renewable energy and the stability of the energy network in the country.
Perianne Boring, founder and CEO of the Chamber of Digital Commerce, sees digital asset mining as a crucial industry for the technological and economic development of the United States, which will revolutionize energy markets. “Digital asset mining, at its core, is an energy and national security issue,” Boring said.
Multiswap, a multi-asset trading tool on Avalanche
📍CavalRe developers have launched Multiswap to facilitate the exchange of multiple tokens in a single transaction. Multiswap is a multi-token trading and exchange platform, built on the Avalanche blockchain, that unlocks the ability to exchange over 300 tokens with each other in a single transaction.
This new platform is he presented this week as a new generation of multi-asset decentralized exchange, seeking to reinvent the way people access and exchange tokens on the blockchain.
According to Ava Labs, Multiswap can hold any number of tokens, including tokenized assets off-chain, allowing for the creation of unique liquidity pools that give tokens on the blockchain properties similar to assets in exchange-traded funds or ETFs while maintaining decentralization.
The CavalRe team tested Multiswap on a trade of over 500 S&P 500 tokens in a single liquidity pool, creating 125.000 token trading pairs “with zero liquidity fragmentation and extreme capital efficiency,” Ava Labs said.
Canto will move its ecosystem to Polygon Network
📍Financial DApp blockchain Canto plans to move its entire app ecosystem to the Polygon network. Polygon Developers reported that Canto is considering creating a new second-layer network powered by zero-knowledge technology, which will be based on the Polygon Chain Development Kit (CDK), to move its entire ecosystem of decentralized applications focused on finance to Polygon.
This significant move for Canto seeks to optimize its ecosystem, taking advantage of the benefits offered by ZK technology and the deep liquidity on the Ethereum network, to protocolize existing finance and build a new generation of “neofinance.”
Bitcoin is the solution to banks
📍Canadian psychologist Jordan Peterson has questioned the continued presence of banks in the financial system of the future. In X, Peterson highlighted a post about Macquarie Bank's efforts to modernize by eliminating cash deposits, checks and telephone payments.
In light of these actions announced by the Australian bank, Peterson questioned whether the time has come to “dump the banks” and make way for Bitcoin as a more efficient alternative to traditional banking.
Peterson is an acclaimed Canadian psychologist and author, a free speech advocate, and a thoughtful observer of Bitcoin.
During his participación At the Bitcoin 2022 conference in Miami, Peterson said that Bitcoin was an incorruptible store of value and that, in his opinion, it was psychologically healthier to live with the cryptocurrency than with fiat money.
Continue reading: Tether is already testing Moria, its Bitcoin mining platform
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