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Top US Crypto & Blockchain Investment Firm Heading to Britain

Andreessen Horowitz (a16z), a leading American venture capital firm is in the process of setting up its first international office (outside of its California base of operations) in the United Kingdom. One of their mission statements reads: "(we) invest in seed to venture to late-stage technology companies, across bio + healthcare, consumer, crypto, enterprise, fintech, games, and companies building toward American dynamism." News sites have reported on Facebook and Twitter being notable "safe" prospects for a16z's team in the past. The company is hedging its bets on the UK government's fairly lax approach to crypto and blockchain regulation, following crackdowns on the cryptocurrency industry in the US. News outlets point to a notable case where the North American financial watchdog/regulator is suing the world's largest cryptocurrency exchange, Binance, due to activities "placing investors' assets at significant risk." The new Andreessen Horowitz London office is marked for a late 2023 opening—Chris Dixon the head of crypto investing at a16z has written about his firm's decision to embrace a new market location: "While there is still work to be done, we believe that the UK is on the right path to becoming a leader in crypto regulation...The UK also has deep pools of talent, world-leading academic institutions, and a strong entrepreneurial culture."

He has also declared that the UK Prime Minister - Rishi Sunak - is very pleased about a16z setting up shop in the City of London (financial district). The UK leader's statement reads: "As we cement the UK's place as a science and tech superpower, we must embrace new innovations like Web3, powered by blockchain technology, which will enable start-ups to flourish here and grow the economy. That success is founded on having the right regulation and guardrails in place to protect consumers and foster innovation. While there's still work to do, I'm determined to unlock opportunities for this technology and turn the UK into the world's Web3 centre. That's why I am thrilled world-leading investor, Andreessen Horowitz, has decided to open their first international office in the UK - which is testament to our world-class universities and talent and our strong competitive business environment."

CCP Games Secures $40 Million in Funding for New AAA Game, EVE Universe Setting and Blockchain Implementation Mentioned

Reykjavík, Iceland - 21 March 2023 - CCP Games, creators of sci-fi spacefaring MMO EVE Online, announced today that $40M in financing has been secured from external partners. This financing will allow CCP Games to build upon the discoveries of its research & development team to enable the full-scale development of a new AAA title utilizing blockchain technology, set within the EVE Universe.

"Since its inception, CCP Games' vision has been to create virtual worlds more meaningful than real life. Now, with advancements made within blockchain, we can forge a new universe deeply imbued with our expertise in player agency and autonomy, empowering players to engage in new ways. This financing has marked an exciting frontier in our studio history as we begin our third decade of virtual world operations. We are humbled by the confidence from our partners in the development of this new title," said CCP Games CEO, Hilmar V. Pétursson.

Cloudflare: Blockchain Platform Targeted by One of Most Powerful DDoS Attacks in History

Internet services provider Cloudflare has announced that it has successfully protected one of its clients from one of the most powerful DDoS (Distributed-Denial-of-Service) attacks in history. According to the services provider, an undisclosed cryptocurrency platform was targeted by a botnet comprising around 6,000 "zombie" computers distributed throughout 112 different countries. The botnet ultimately generated a collective 15.3 million requests per second. While that's still shy of the largest recorded metric - set at 17.2 million requests per second - the fact that the DDoS attack occurred through HTTPS likely pushed its complexity above the record-setting attack, due to the higher computational workload of secure HTTP. The attack lasted 15 seconds.

DDoS attacks aim to flood a network with requests and data packets in a bid to overload and paralyze it. The attack also showcases the ingenuity of bad actors, as the originated from cloud-based ISPs, as attackers leverage more complex and capable networking hardware than what's usually offered by last-mile ISPs. According to Cloudflare, the botnet seems to have mostly compromised systems with Java-based applications that were still open to the recently-discovered CVE-2022-21449 vulnerability.

Intel Launches New Intel Blockscale Technology for Energy-Efficient Blockchain Hashing

Intel today announced details for its new Intel Blockscale ASIC. Building on years of Intel research and development (R&D), this application-specific integrated circuit (ASIC) will provide customers with energy-efficient hashing for proof-of-work consensus networks. Compute requirement for blockchains utilizing proof-of-work consensus mechanisms is growing at a rapid rate due to their resiliency and ability to scale without sacrificing decentralization. This growing pool of computing power requires an enormous amount of energy, necessitating new computing technologies that can provide the requisite power in a more energy-efficient manner while also being durable enough to mitigate long-term e-waste concerns.

"Momentum around blockchain continues to build. It is the enabler of decentralized and distributed computing, making way for innovative business models. To power this new era of computing, Intel is delivering solutions that can offer an optimal balance of hashing throughput and energy efficiency regardless of a customer's operating environment. Intel's decades of R&D in cryptography, hashing techniques and ultra-low voltage circuits make it possible for blockchain applications to scale their computing power without compromising on sustainability," said Balaji Kanigicherla, Intel vice president and general manager of Custom Compute in the Accelerated Computing Systems and Graphics Group.

Intel Announces a Roadmap of Energy-efficient Blockchain Accelerators

Digital computing continues to enrich our lives in more ways than we can imagine. We acquire, consume, and create content and services with a few clicks or taps of our fingertips. Exponential increases in compute performance, enabled by Moore's Law, play a significant role in making these experiences seamless. Moore's Law is also enabling us to democratize access to this enormous pool of processing power. Amazing things happen when a lot of compute is available to a lot of people without much friction.

Blockchain is a technology that has the potential to enable everyone to own much of the digital content and services they create. Some even call it an inflection point in computing, fundamentally disrupting the way we store, process and transact our digital assets as we usher in the era of metaverse and Web 3.0. No matter how the future evolves, it is certain the availability of a lot more compute to everyone will play a central role.

Chia - The Cryptocurrency Gunning for Your SSD and HDD Space That Could Bring Another Tech Sector Pricing Up

A new cryptocurrency going by the name of Chia could bring about a boom in demand for HDD and SSD, which have been kept relatively untouched by the latest mining and supply constraints. However, optimistic predictions of falling prices for NAND (optimistic for consumers, that is) could prove to be erroneous. Apparently, the new cryptocurrency, which saw its whitepaper being published in February 9th and has already led to shortages of high-performance SSDs from China's Jiahe Jinwei.

The cryptocurrency was designed to be mined in SSDs and HDDs, looking to cut on electricity cost from proof of Work (PoW) cryptocurrencies such as Bitcoin and (still) Ethereum. The intention is for the cryptocurrency to have as broad an appeal as possible, by excluding the need for prohibitive investments in either ASICs (for Bitcoin) or GPUs (for Ethereum and other Dagger/Hashimoto-based calculations). It also leverages that which is most widely available and oftentimes left empty of any workload - storage space. Due to this, it's been reported that Chinese miners are already buying HDDs (4 TB through to 18 TB) and SSDs (mainly NVMe solutions) in bulk. This could prevent technologists from ushering in the current trend of falling storage pricing - if demand becomes as crazy as it has become in the GPU space.

Innodisk to Release Blockchain SSD Securing Radical Edge Data Integrity

The increasing ubiquity of AI in everyday applications brings with it concerns regarding data integrity and validation. Innodisk's new-patented blockchain technology brings to its latest SSD solution "InnoBTS SSD" and alleviates these concerns through sophisticated use of digital signature and blockchain that is fully software independent.

Innodisk announces its new solution combines blockchain technology to secure the valuable data in recent IoT scenarios, such as POS systems at unmanned stores, smart meters, digital ID cards. The important data written to the SSD will create an encrypted hash string that corresponds to the specific data set, and the encrypted hash string is spread on the blockchain network, essentially creating a decentralized ledger that is distributed between numerous unique computers. The process is to make the encrypted hash string to be "chained" on the blockchain network. If tampering happens, the chained data is checked with an encrypted hash string on the network, clearly showing any discrepancies.

AMD and Industry Partners to Develop New Blockchain-based Gaming Platforms

AMD today announced that it has joined the Blockchain Game Alliance (BGA) and forged partnerships with leading technology providers to help promote the development and proliferation of new blockchain-powered gaming platforms.

The Blockchain Game Alliance is committed to driving awareness and adoption of blockchain technologies within the game industry, providing an open forum for individuals and companies to share knowledge and collaborate, create common standards, establish best practices, and network. As the first major hardware manufacturer to join the BGA, AMD plans to enable alliance members with efficient and high-performance computing technologies for next-generation blockchain-based gaming platforms that could potentially transform the way games are created, published, purchased and played.

The World's First Cross-Game Currency to Receive No Action Relief from the SEC is Quarters

The Securities and Exchange Commission (SEC) has issued its first no-action letter for a blockchain token made for the game industry. Quarters (Q), a cross-game, cross-platform premium game token, provides a player-friendly and industry-friendly alternative to in-game tokens traditionally locked to a single game.

The Quarters smart contract provides this necessary trust by enabling everyone - players, developers and investors - to securely and transparently buy and use a prepaid arcade token. With the SEC regulatory relief, Quarters are also legal for all players to buy and use as a consumer product in the United States.

AMD President and CEO Dr. Lisa Su to Deliver COMPUTEX 2019 CEO Keynote

Taiwan External Trade Development Council (TAITRA) announced today that the 2019 COMPUTEX International Press Conference will be held with a Keynote by AMD President and CEO Dr. Lisa Su. The 2019 COMPUTEX International Press Conference & CEO Keynote is scheduled for Monday, May 27 at 10:00 AM in Room 201 of the Taipei International Convention Center (TICC) in Taipei, Taiwan with the keynote topic "The Next Generation of High-Performance Computing".

"COMPUTEX, as one of the global leading technology tradeshows, has continued to advance with the times for more than 30 years. This year, for the first time, a keynote speech will be held at the pre-show international press conference," said Mr. Walter Yeh, President & CEO, TAITRA, "Dr. Lisa Su received a special invitation to share insights about the next generation of high-performance computing. We look forward to her participation attracting more companies to participate in COMPUTEX, bringing the latest industry insights, and jointly sharing the infinite possibilities of the technology ecosystem on this global stage."

ASRock To Demonstrate Latest Motherboard, Graphics Card, Blockchain Solutions At COMPUTEX

ASRock, a global leader in motherboard, graphics card, and small form factor PC, today announced that it will demonstrate its Intel and AMD series motherboard, Phantom Gaming series graphics card, and blockchain solution at COMPUTEX Taipei 2018, from June 5 to June 9, 2018.

The cutting edge computing solutions will be part of ASRock exhibit, showcasing its latest technologies and solutions addressing the demands of daily computing, gaming, and blockchain computing applications, including:
  • Intel 300 series motherboard;
  • AMD B450 series motherboard;
  • Latest Phantom Gaming series graphics card;
  • The world's leading solution for blockchain and high performance computing;
  • Small Form Factor Solution equipped with Intel 300 series chipset and Mini-STX motherboard.

AMD Corrects Analyst's Cryptomining Revenue Estimate in Defense of Its Share Value

AMD has gone on to publicly call attention to what it considers to be erroneous information put forward by Susquehanna analyst Christopher Roland. The analyst's report, which prompted the reclassification of AMD and NVIDIA's share targets - and investment ratings. Looking to stem what could translate to lower confidence from investors in its share outlook for the future, AMD has now gone on to clarify that mining revenue actually accounts for single-digit amounts entering the company's coffers, and not the 20% previously mentioned by the analyst.

AMD was dealt a worse hand than NVIDIA on Cristopher Rolland's analysis, since the perceived AMD exposition to a negative downturn on the GPU cryptocurrency mining market (kickstarted by the expected entrance in the market of Ethereum-specific ASICs) was double that of NVIDIA (20% on the former versus 10% on the latter). As such, the company has tried to remind customers, investors, and would-be investors that they appreciate the time and attention that investors continue to pay to Blockchain and cryptocurrency, but "(...) we [AMD] would also like to keep it in perspective with the multiple other growth opportunities ahead for AMD." You can read the AMD statement in full after the break, under the title "The View from Our Corner of the Street".

Some Blockchain in My Voting, Please: Sierra Leone Implements Innovative System

Putting aside discussion of cryptocurrencies, bubbles, and the debated absence of intrinsic value, blockchain itself has a myriad of uses that are still in their exploration infancy. One such usage - one that was arguably first thought of by Philip K. Dick, albeit unknowingly - was the usage of such a system in voting, as a way to provide transparency and trust towards the system which (supposedly) materializes the will of the people.

When asked which country would be the first to implement a Blockchain-based election (which ran at 70% of the voting stations), Sierra Leone would likely be completely absent as an option. The country, which has a population of 7.4 million, has a known history of political and societal unrest, having seen multiple UN interventions in its (relatively) recent history. The company had no technological capacity to build such a blockchain-based voting system - and thus turned to an outside provider. Agora was the chosen company, which aimed to power Sierra Leone's presidential election through anonymously stored votes in an immutable ledger, thereby offering instant access to the election results. The wins come not only in counting speed and actual logistics and state spending improvements, though: the usage of blockchain obviously also ushers in transparency.

SEC Starts Cracking Down on ICOs

Even as we reported, earlier this week, that there's a veritable digital grave of failed ICOs (either through bad management or by design) that have taken millions of dollars with them, news is breaking that the SEC (Securities and Exchange Commission) has started cracking down on these blockchain-fueled practices. According to the Wall Street Journal, citing "people familiar with the matter", the outfit has issued a number of subpoenas and information requests to technology companies and advisers involved in the ICO practices.

The SEC's intention here is to see whether or not any of these ICOs have been designed and offered in ways that contravene the established securities trading practices and regulations (heads-up: many of them most likely have). More specifically, the SEC is demanding information regarding the structure of ICO sales and pre-sales - where many of these actually fall apart in their transparency. According to former SEC commissioner Dan Gallagher, "We're seeing the tip of the iceberg ... there is going to be a ton of enforcement activity". Naturally, the very nature of the blockchain and ICO startups can simply build themselves up in ways that prevent them from ever being identified - after all, fake websites, media accounts, and white papers are all relatively easy to forge, and considering the current state of the cryptocurrency and ICO market (which has improved compared to last year), some users are always bound to be caught in the net.

Venezuela Oils Its Economic Gears With "petro" Cryptocurrency Launch

Blockchain technologies will eventually change the world, eventually. Whether or not cryptocurrencies will be part of that world, however, is still up for debate. Venezuela, however, is looking to reap dividends from the current cryptocurrency craze before the final answer to that question has a chance of being answered. As the country has entered a severely crippled economic and civil state, the search for a way to raise government funds has led to the development of the petro cryptocurrency - which is linked, as one would expect, to the country's primary export and income source: oil.

As part of the petro pre-sale, investors were being offered $60 petro tokens at discounted rates that they can exchange for actual petros during a planned Mars ICO (Initial Coin Offering). After that ICO has been gone through, a petro will supposedly represent a barrel of crude from a specific division in the country's Orinoco oil belt. Is this a pre-buy for a barrel of crude of sorts? It seems so. It's also an extremely risky move for investors, though, but nothing that they aren't used to already: futures trading does exist, after all.

Bitcoin's Lack of Wallet Privacy Leads Criminals to Look Towards Other Cryptos

"It is used for criminal, illegal activities" is one of the most oft-mentioned reasons for users to reject Bitcoin or other cryptocurrencies. However, it seems that this argument is losing weight as we speak when it comes to Bitcoin. In the wake of much increased interest and awareness regarding the fledgling, currently leading cryptocurrency, which has seen institutions and states renew their interest and attention towards regulation or stricter control of the virtual currency, users that would use Bitcoin for nefarious purposes have started to migrate to other cryptocurrencies. You see, the reality of a distributed, transparent ledger is great for a system's transparency; however, transparency and easily identifiable - and traceable - wallets and transactions go against criminals' interests. Law enforcement agencies, such as Europol, have already issued warnings and established protocols towards the adoption of software tools to monitor people using bitcoin. As such, criminals are looking towards other less "transparent" cryptos to use as escape routes for their criminal ways.

The most viable alternative for criminals has apparently been Monero, the cryptocurrency that has also been in the world's mouth because it's usually the one being mined in web browsers, absent of users' consent. Monero has been developed with privacy as a main design criteria from the start, encrypting the recipient's address on its blockchain and generating fake addresses, obfuscating the real sender, but going one step further by also obfuscating the amount of the transaction. This means Monero is currently "one of the favorites, if not the favorite" for usage in ransomware attacks, said Matt Suiche, founder of Dubai-based security firm Comae Technologies, said in a phone interview to Bloomberg.

BIOSTAR Introduces 'Plug-and-Mine' Solution for Crypto Mining Motherboards

BIOSTAR continues to lead the way in Crypto Mining with an estimated installation of 1 in every 5 mining systems around the world; thanks to its comprehensive line-up of Intel and AMD dedicated mining motherboards, price-performance positioning and ease-of-use. BIOSTAR now makes it even easier for miners by partnering with ethOS to create a total-solution with its Crypto Mining series motherboards and the ethOS USB flash drive preloaded with ethOS system. With the Plug-and-Mine solution, BIOSTAR brings miners an easy-to-follow, simple to set-up package, welcoming more people to join the crypto mining community.

The ethOS Mining System is one of the most straight-forward operating systems for mining ZCash, Monero, Ethereum and other GPU-minable coins. The setup is simple Plug-and-Mine, without needing a SSD. When paired with BIOSTAR mining boards, building a heavy yet stable mining rig of up to 12 GPUs can be done with ease. These have been tried and tested by both BIOSTAR and ethOS.

AMD Releases Beta Driver Specifically Geared for Blockchain Compute

Paraphrasing our own VSG, "So, this happened". AMD has gone out and done it: they've released a Beta driver specifically geared towards blockchain-based workloads, which should improve the company's GPU performance in generating money for miners. The driver is compatible with close to the entirety of AMD's GCN lineup - all the way from hot-from-the-foundry Vega to AMD's HD 7900 series. As AMD puts it, this is a driver solely purposed towards blockchain workloads - no gaming or graphics workloads (read, what graphics cards were originally meant to do) are officially supported in this release.

Apparently, AMD took it upon themselves to release this driver due to AMD's well documented DAG performance decrease for Ethereum mining hashrates. Specifically, according to Legit Reviews, the Radeon RX 480 went from an expected 14.8 MH/s at DAG #199 (down from 24.6 MH/s at DAG #130) to a prospective 24.8 MH/s DAG #199 performance according to Claymore's benchmark script. Performance improvements from the non-blockchain-geared driver release seem to stand at around 10-15%, which isn't too shabby from a single, Beta driver release.

Intel and Microsoft Collaborate to Deliver Industry-First Enterprise Blockchain

Today, Microsoft announced a new framework that enables businesses to adopt blockchain technology for increased enterprise privacy and security, and named Intel as a key hardware and software development partner. As part of this collaboration, Microsoft, Intel and other blockchain technology leaders will build a new enterprise-targeted blockchain framework - called the Coco Framework - that integrates Intel Software Guard Extensions (Intel SGX) to deliver improved transaction speed, scale and data confidentiality to enterprises. This first-of-its-kind innovation accelerates the enterprise readiness of blockchain technology, allowing developers to create flexible and more secure enterprise blockchain applications that can be easily managed by businesses.
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