Over the weekend, there were a lot of advancements in the crypto realm, including the release of a music album in the metaverse, the introduction of Tether (USDT) on the Polkadot (DOT) blockchain, and Concord (ONE) dominating a hard fork or token minting on the blockchain.
Music Album Launch In Metaverse
In order to record an original music album for the Maladroids in-game radio, an online game built on the Ripple (XRP) blockchain, Armada Music, one of the biggest independent dance music labels in the world, has teamed up with the blockchain company Ripple and the music integration platform Styngr. Armada Music was co-founded by DJs Armin van Buuren, Maykel Piron, and David Lewis.
Kaj Leory, CEO, XRP blockchain, stated in a launch “Working alongside Styngr and Ripple to deliver music to the in-game radio for Maladroids has been such a incredible expertise. It’s not on a regular basis that impartial video games studios are in a position to launch new music from well-known artists and to take action from the discharge of degree one is an accomplishment for our model.”
Tether (USDT) Launched On Polkadot (DOT) Blockchain
The largest crypto stablecoin in the world, Tether (USDT), recently announced the launch of its tokens on the Polkadot (DOT) network.
A blockchain ecosystem called Polkadot (DOT) operates according to multichain performance criteria, which means it offers a variety of built-in blockchain features, such as cross-chain registrations and calculations. In addition to these activities, Polkadot also enables independent blockchains to exchange data and conduct transactions in a trustless manner with the use of Polkadot’s Relay Chain.
The co-founder of Ethereum believes that Proof of Stake should replace Proof of Work for Dogecoin and other Proof of Work blockchains
During last week’s 2022 Blockchain Mainnet event, Vitalik Buterin said that the current proof-of-labor consensus mechanism using blockchains like Dogecoin and Zcash makes the switch quickly but that as crypto consensus mechanisms like Proof of Stake mature in their lifecycles, he expects their official use instances to expand.
“I might say ought to … as PoS matures I might anticipate it to extend in legitimacy over time. I hope @zcash strikes over and I’m hopeful @dogecoin strikes to PoS quickly,” stated Vitalik Buterin.
Following the June hacking incident, Concord (ONE) provides an alternative to its restoration strategy.
After its June hacking incident, Concord updated its plan of action to include two new sections. The Concord team said in a Medium post that they will “not mint further ONE tokens” and that their blockchain would not undergo a hard fork.
When the hacking incident happened, Concord developers announced that they would hard fork their blockchain to create one billion ONE tokens. However, hearing this sparked a community uprising, and in the end, Concord developers decided to listen to their concerns and modify the original restoration plan.
“We suggest not minting extra ONE tokens nor altering our tokenomics with a tough fork of the protocol. As an alternative, we suggest deploying our treasury in the direction of each restoration and improvement,” learn a para from Concord’s Medium put up.
A blockchain called Concord (ONE) makes it easier to develop and use a variety of decentralized applications (DApps), and they often do this by employing a technique known as verifiable random performance. This knowledge enables the Concord blockchain to handle random state sharding and produce a new block in just a few seconds.