Fintech PR
Apollo Currency Releases Sharding, Solving Blockchain Sustainability
Apollo Currency is making history by becoming the first project to utilize sharding on an active blockchain and one of the first cryptocurrency ventures to implement a solution to blockchain bloat. Apollo sharding was activated on April 1, 2019 and the first shard segments on the blockchain at block 2,250,000. This first shard signals a monumental accomplishment toward blockchain advancement and a revolutionary moment in cryptocurrency history.
“With the release of sharding, Apollo has officially become the fastest, most feature-rich and most sustainable cryptocurrency available,” says Stephen McCullah, director of business development.
Solving Blockchain Bloat
Blockchain bloat prevents DLT systems (distributed ledger technologies) from scaling. Although each block adds only a small amount of data, this information accumulated over time leads to an astronomically large database. The accumulation of data from blocks will inevitably result in slower speeds, reduced functionality, and difficulty downloading its database.
“Sharding allows a user to download the blockchain much faster, and it reduces the cycle-time of operations as well as lowers the needed disk space,” says Sergey Rokhvarg, chief technology officer. “Apollo sharding is a trailblazing innovation that was only theory until recently.”
How Sharding Works
“An increasing number of transactions leads to a constant increase in the Apollo database. This process goes faster with shorter block time,” says Sergey Rokhvarg, CTO. “Blockchain requires full access to the ledger from beginning to end to verify each transaction, but this task does not run every time. Most operations require smaller parts of an entire database.”
According to Mr. Rokhvarg, that creates an opportunity to be more efficient. As the first shard executes, the following takes place:
- The Apollo ledger database will split into time-based (or blockchain height-based) segments, and the split will be made on each node in the consensus with each node knowing when that split occurred.
- Each shard will complete every 750,000 blocks after 1,400 blocks of acknowledgment.
- Information will be added to each shard/segment that allows blockchain operations to occur without queries to the full ledger database. This will optimize the blockchain processing code to use the last segment for most operations.
- Each segment will be trusted as nodes sign its summary tables. Downloading of the full blockchain will be optional/delayed. Rather, nodes will download the latest segment and start processing from there.
- Downloading of previous blockchain segments will occur on-demand.
The results are remarkable speed, as well as scalability of the Apollo blockchain, according to the foundation’s development team. [website: apollocurrency.com]
Anticipating Future Network Challenges
Distributed ledger technologies (DLT) are undergoing 80% compound annual growth rate (CAGR) and they are expected to become a $23 billion industry worldwide by 2023 according to Reportlinker. The $300 billioncryptocurrency market is estimated to have 32% CAGR by 2025 according to Market Insights Reports.
But more use could also lead to unstable networks.
“When we developed sharding, the team had to significantly renovate the data-exchange mechanism, which allows using other types of sharding and optimization in the future,” says Sergey Rokhvarg, CTO. “In the near future, we’ll release a core code for sharding. The new protocol will initiate on block 2,250,000 and more shards will form every 750,000 blocks.”
Apollo as the Ultimate Currency
“Sharding and adaptive forging make Apollo the most sustainable blockchain on Earth,” says Steve McCullah, director of business development. “Our goal is to realize sub-one-second transaction speeds and TPS capabilities in the multi-millions before the end of 2020.”
Apollo is among the fastest cryptos on Earth with two-second settlement speed.
Adaptive forging (launched in Q4 2018) synergizes with sharding to eliminate wasteful, non-stop block creation. Thanks to this breakthrough technology, blocks are only created and forged when a transaction takes place. This approach simplifies the blockchain and lowers the required disk space for storing a database. This further improves speed, eliminates bloat issues, and makes the blockchain hyper-efficient.
Other mainstream crypto projects have been unsuccessful at creating similar sustainability solutions.
Mr. McCullah concludes by saying “it’s crucial for developers to stay ahead of the curve, and to consider upcoming trends in their organization’s strategic planning. The Web 3.0 economy is evolving fast and it’s important to match developer competence with vision and prudence. Blockchain use-cases are leading to tectonic shifts in how people and merchants do business, and we want to prevent future issues that are avoidable. Sharding makes blockchain technology scalable and sustainable.”
SOURCE Apollo Foundation
VILNIUS, Lithuania, Dec. 27, 2024 /PRNewswire/ — BingX, a global leading cryptocurrency exchange, is excited to announce the launch of ALTCOIN Index, the first futures trading pair involving top altcoins. This innovative trading product offers users a one-click solution to efficiently track and trade major cryptocurrency trends with ease.
Traditionally used in stock markets, a futures index is a financial derivative that tracks the performance of a group of assets, such as stocks of commodities. These instruments were first introduced to simplify trading by allowing investors to speculate on or hedge against the collective movements of selected market sectors. Instead of purchasing individual stocks, traders are able to access broad market exposure in a single transaction, saving time and reducing costs.
In the cryptocurrency market, this new ALTCOIN/USDT futures trading pair works similarly by bundling the performance of the top mainstream cryptocurrencies by market capitalization, excluding Bitcoin (BTC) and stablecoins. The current index includes ETH, XRP, SOL, BNB, DOGE, ADA, TRX, AVAX, and SHIB. This approach is more efficient compared to buying individual cryptocurrencies or ETFs as this allows for direct speculation using tiered leverage options without the need to manage multiple positions, effectively diversifying trading risks associated with individual asset volatility.
Vivien Lin, Chief Product Officer of BingX, commented on the new offering: “By aggregating a range of leading cryptocurrencies into a single trading instrument, we’re giving users a practical and efficient way to better capture market trends. This index trading pair should help our less experienced users with their trading goals more easily, particularly when they are unsure which asset to trade and just want to trade major altcoins in general with leverage.”
BingX users can take advantage of tiered leverage options and competitive rates consistent with the platform’s perpetual futures terms, simplifying open order management and enhancing trading efficiency. The platform also ensures that the index composition remains current, with regular quarterly adjustments and temporary updates in response to market conditions.
About BingX
Founded in 2018, BingX is a leading crypto exchange, serving over 10 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became the official crypto exchange partner of Chelsea Football Club, marking an exciting debut in the world of sports.
For more information please visit: https://bingx.com/
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SINGAPORE, Dec. 27, 2024 /PRNewswire/ — Nodepay, a decentralized AI platform transforming unused internet bandwidth into real-time data pipelines for AI training, today announced it has raised a second round of funding, bringing its total to $7 million.
The latest funding round welcomed new strategic investors IDG Capital ($23 Billion AUM), Mythos, Elevate Ventures, IBC, Optic Capital, Funders.VC, Matthew Tan (Etherscan founder) and Yusho Liu (CoinHako Co-founder & CEO) as notable angels. They join an impressive roster of previous backers that includes Animoca Brands, Mirana, OKX Ventures, JUMP Crypto, Tokenbay Capital and more.
Nodepay’s network taps into a global community of users running privacy-protected nodes. By sharing their spare internet bandwidth, these participants earn rewards for creating a real-time data source that improves AI inference with accurate, timely information—an approach known as Retrieval Augmented Generation (RAG).
Darren Nguyen, co-founder of Nodepay commented: “Our mission is to develop solutions that create tangible value for both AI developers and its end users. We give contributors a share in the AI ecosystem they help fundamentally build.”
Nodepay’s infrastructure platform integrates real-time data retrieval, a Web3-focused decentralized answer engine, reinforcement learning for more accurate model output, and gamified human verification. Together, these components combine to create a fair, collaborative, and innovative AI ecosystem.
Eric Le, investment director of IDG Capital, said, “The team at Nodepay is democratizing the AI economy by providing a platform that allows users to share directly in the value they create. We’re proud to support their vision of making AI more accessible and beneficial to all.”
With this funding, Nodepay will continue to commercialize its infrastructure to benefit both its community and partner AI labs. As it prepares to launch on Solana, Nodepay stands ready to lead the next era of decentralized AI development and training.
Already serving over 1.5 million active users worldwide, Nodepay continues to expand its reach, solidifying its role as a leader in the integration of AI and blockchain technology. Users can expect further updates and new announcements through their social channels and official website.
About Nodepay
Nodepay is a decentralized AI platform dedicated to democratizing AI training through real-time data retrieval. By turning idle internet bandwidth into a valuable resource, Nodepay fuels the next generation of AI models and stands at the forefront of AI decentralization.
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PASAY CITY, Philippines, Dec. 26, 2024 /PRNewswire/ — The SM Group is approaching the coming year with cautious optimism, encouraged by the continued growth of the Philippine economy.
SM Investments President and Chief Executive Officer Frederic C. DyBuncio said that despite ongoing challenges of peso volatility and higher inflation, the business sector has adapted well.
Consistent demand sustained household spending in the third quarter, with Household Final Consumption Expenditure posting a year-on-year growth of 5.1%, maintaining the same level in the same quarter last year, data from the Philippine Statistics Authority showed.
“Any moderation in inflation should trigger a strong confidence rebound. This could create opportunities in consumer-focused sectors in the country and we are poised to cater to these evolving demands,” Mr. DyBuncio said.
To cater to growing demand, SM continues to expand into more underserved areas, contributing to sustainable economic development and collaborating with government stakeholders to enhance access to modern retail, financial services, and integrated property developments.
“By investing and expanding to more areas nationwide, SM creates new markets and improves access to these essential sectors, serving more communities and helping stimulate sustained economic activities,” he said.
Mr. DyBuncio also said SM continues to invest in promising ventures such as renewable energy and logistics, that foster economic activity.
SM has invested in the clean energy industry through Philippine Geothermal Production Company (PGPC) which produces 300 Megawatts of geothermal steam supply. SM aims to continue to develop geothermal concessions through PGPC in support of the Department of Energy’s goal of reaching 50% renewable energy supply by 2040.
To encourage circularity towards green energy production, SM’s property arm, SM Prime Holdings partnered with GUUN Co. Ltd. (GUUN) to implement the Japanese technique of reducing landfill impact. The technology converts non-recyclable and hard-to-recycle packaging into alternative fuel.
SM’s banking arm, BDO Unibank is one of the largest funders of renewable energy projects. BDO has funded PHP898 billion in sustainable finance, including loans to 59 renewable energy projects as of December 2023.
In logistics and tourism, the improvement of transport networks across the country’s archipelago connects tourist and industrial areas that will help create inclusive growth. SM though its subsidiary 2GO launched MV Masigla and MV Masikap in 2024 to help better connect goods to 19 ports across the country including Iloilo, Bacolod, Cagayan de Oro and Manila, further supporting the government’s push for medium term growth through an upgraded tourism infrastructure and ecosystem.
“Our focus for 2025 will be to drive purposeful growth, empowering communities and partners through our investments towards a sustainable future,” Mr. DyBuncio said.
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View original content:https://www.prnewswire.co.uk/news-releases/sm-approaches-2025-with-cautious-optimism-302339452.html
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