Avoids punitive slashing and token lockups, maintains web3’s lowest costs for node runners with real-time reward payments

SINGAPORE, Jan. 23, 2025 /PRNewswire/ — Staking rewards have arrived on the Algorand blockchain. The Algorand Foundation announced today that, after this week’s consensus mechanism upgrade, ‘block rewards’ are now being paid, in real-time, to validators successfully proposing blocks to the Layer-1 blockchain. The rewards begin at 10 ALGO per block and will decay by 1% every millionth block. Validators also receive 50% of the transaction fees of the blocks they successfully propose. More information about this upgrade and “Algorand 4.0” can be found here.

Algorand’s staking program is unique in the industry. Rewards are paid out in real-time and, unlike the staking setups on Solana, Ethereum, and other chains, participants are not threatened by slashing nor subject to restrictive token lockups. Node runners continue to have full access to their funds at all times. Also, compared to other popular currencies like ETH and SOL, Algorand’s staking rewards are not inflationary and don’t impact the total supply of ALGO.

“While staking on Algorand is highly inclusive, it’s highly secure as well,” said John Woods, CTO of the Algorand Foundation. “Algorand uses advanced cryptography that makes it unnecessary to put user funds at risk of penalty or loss – their ALGO does not need to be delegated to other parties or locked up to be used to secure the network.”

“Any time we interact with a blockchain – whether through a dApp or an enterprise platform – that action is made possible because of the network running it,” said Staci Warden, CEO of the Algorand Foundation. “The nodes on the Algorand blockchain secure corporate supply chains, online credentials, and digital identities. They make it possible to send aid payments around the world, and to tokenize and exchange real-world assets, all in a decentralized system. The Algorand blockchain does not fail. The Algorand blockchain will never fork. And, now, Algorand will also offer inclusive, robust, and future-proofed staking.”

There are multiple ways people can participate in securing the network and earn staking rewards. For DeFi users, liquid staking is available from Folks Finance, Tinyman, Messina, and CompX; there is a consensus staking pool on Pact, with other staking pools available on Réti; and delegated staking is available from Valar. ALGO staking will be available on other centralized exchanges later this year. Users can also run their own Algorand node. 

The rollout of staking rewards marks the end of a banner year for the sustainable Algorand blockchain, including:

• Hitting its 2 billion transaction mark in July, driven in large part by the growing transactions of major projects and partners including World Chess, as well as increasing DeFi and TradFi activity.
• A significant increase in the number of developers, according to Electric Capital.
• The migration of several startups and companies to Algorand from chains like Ethereum, such as Finboot and ZTLment, citing that developing blockchain products is 600% faster on Algorand than with Ethereum/EVM chains.

About Algorand Foundation 
Algorand’s mission is to power a world where information has integrity and innovative ideas can scale. The Algorand Foundation supports Algorand’s rapidly growing ecosystem by providing a best-in-class developer environment, supporting key infrastructure and setting technical standards, offering comprehensive support to builders and entrepreneurs, and providing the framework for decentralized governance.

Launched in 2019, the Algorand (ALGO) blockchain has grown into a vibrant ecosystem of developers, entrepreneurs, and enterprise partners that benefit from institutional-grade certainty and resilience. Its low fees, instant finality, and minimal carbon footprint appeal to the protocol’s millions of retail users, and developers of all kinds appreciate the ability to use common programming languages like Python. Builders on Algorand are creating protocols and companies that solve important problems at a global scale: instant payments in war and disaster zones, self-sovereign identity for the disenfranchised, supply-chain traceability for global commerce, permissionless protocols addressing financial inclusion, and the creation of entirely new markets through tokenization, to name a few. To learn more and start your journey on Algorand, visit algorand.co 

About Algorand (ALGO)
Algorand (ALGO, ALGO-USD) is a cryptocurrency launched in 2019 as part of the Algorand blockchain. The Algorand blockchain is an energy-efficient, quantum-secure, single-layer blockchain with instant finality, consistently high throughput, and low fees. Algorand (ALGO) is currently trading on more than 400 active markets under the tickers ALGO, ALGO-USD, ALGO/USD, ALGO-EUR, and ALGO/EUR, among other currency pairs. It has a limited, deflationary supply of 10,000,000,000 ALGO which will be in full circulation by 2030. More information can be found at algorand.co.

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• Owners and former executives apply for a court review of the regulator’s decision to take enforcement action against the exchange following its voluntary application for liquidation
• In a separate action, the court-appointed independent liquidator of Bittrex Global is challenging the constitutionality of the lack of an effective appeal framework in relation to the enforcement actions under Bermuda’s Digital Asset Business Act (DABA)

HAMILTON, Bermuda, Jan. 23, 2025 /PRNewswire/ — Bittrex Global owners and former executives confirmed today the filing of two suits against the Bermuda Monetary Authority (BMA) in the Supreme Court of Bermuda. Based on this development Bittrex Global owners and former executives released the following statement today:

“In November 2023, we announced that Bittrex Global would be ceasing operations. We then entered a four-month period of consultation with the BMA and a globally recognised firm to act as liquidators to develop a plan to ensure an orderly wind-down and the safe return of all claimed funds to former customers. Three business days after the Court approved the liquidation plan and the appointment of the proposed independent liquidators, the BMA issued a warning notice to the company that it intended to take enforcement action.

“We have asked the Court to review the decision of the BMA to bring enforcement action in these circumstances. Unfortunately, the Digital Asset Business Act (DABA) does not afford us, as owners and former executives, the right to respond directly. Therefore, we have also had to file a Constitutional claim in order to challenge the decision.

“Bittrex Global became one of the first companies regulated under Bermuda’s flagship crypto regulation in 2020. Since then, we have worked closely with the BMA, providing them with business plans and other materials setting out in detail all our policies and procedures. Where the BMA made suggestions, for example as part of an annual on-site inspection, these were promptly implemented. It was extremely surprising to learn, mere days after choosing to liquidate the company and after months of consultation with the BMA about our plans, that the BMA intended to bring enforcement action in relation to those same policies and procedures it had known about and in many cases approved over the previous three years. It was further shocking to learn that they proposed to deviate significantly from their own official published guidance and issue a civil penalty over four times the maximum amount under that guidance.

“In a separate court filing, Bittrex Global, acting through the court-appointed independent liquidators, is challenging the constitutionality of DABA’s lack of an effective appeal framework in relation to enforcement actions.

“The return of claimed assets to all Bittrex Global users is already in an advanced stage, under the direction of the independent liquidators and the supervision of the Supreme Court of Bermuda. To date, over 94% of claimed funds have already been returned, and it is anticipated that all claimed funds will be returned in accordance with applicable law in the coming weeks. Bittrex Global owners and former executives have continued to assist in this process, and the return of claimed funds remains our overriding priority.”

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LONDON, Jan. 23, 2025 /PRNewswire/ — Keith Hale has been appointed as Group CEO of Titian Software and Labguru (BioData Inc.), two leading providers of laboratory data management solutions, as part of the goal to accelerate the future of digital lab operations.

A well-known fintech executive, Keith brings 33 years of growth-focused software and technology leadership. He previously co-founded Netik and was CEO of Multifonds. Most recently, as Executive Chairman and Group CEO, he led the creation of TrustQuay (now Quantios) in 2019 with the integration of Microgen and Touchstone, as well as the acquisition of Viewpoint in 2023.

As Group CEO, Keith will oversee a global organization combining the best of Labguru and Titian, delivering sample management, inventory management, Electronic Lab Notebook (ELN), and Laboratory Information Management System (LIMS) capabilities.

A robust, innovative, and intuitive technology platform for sample and inventory management, ELN, and LIMS will simplify lab automation, scientific data management, and orchestration. The combination of these leading technology solutions accelerates drug discovery and R&D particularly in the biopharma industry, enabling more than 900 customers and over 45,000 scientists to do more science. 

Titian’s product Mosaic is a comprehensive sample management platform deployed by major pharmaceutical corporations worldwide including eight of the top 10. Mosaic integrates with most major laboratory equipment, including automated stores and liquid handlers. The software maximises the efficiency and accuracy of sample management, empowering laboratories to efficiently manage vast repositories of more than a billion samples, including compounds, biological materials, and clinical specimens.

The Labguru platform is a cloud-based laboratory data management research-to-production platform combining an ELN, LIMS, inventory management, and AI-based informatics tools. The solutions are found in R&D and QC labs from academia to biotech, from global pharma to cutting-edge startups.

“Keith has a proven track record of leveraging companies’ strengths to deliver digital innovation and drive growth,” says Jesse Feldman, general partner of Battery Ventures and board member of Titian Software. “Under Keith’s leadership, I’m convinced Labguru and Titian will further enable their clients’ adoption of lab automation, scientific data management, and orchestration as well as AI.”

“As a highly experienced management team combining technology and biopharma industry expertise, we will be focusing on building a digital lab operations industry leader to accelerate drug discovery in biopharma for example, integrating the innovative capabilities of the Labguru and Titian platforms.” said Keith. “As I have seen in other industries, the future lies in digital transformation. I expect the labs that embrace digitalisation and AI will lead the way in innovation and scientific discovery.”

Titian and Labguru’s technology leaders will work together with Keith to ensure continued operational consistency and product-driven focus.

“First, I would like to thank Ariel Yarnitsky for his diligent work over the years and his successful efforts in bringing Labguru to where it is today,” says Jonathan Gross, Labguru founder, now Chief Product Officer of the group. “I look forward to working with Keith to ensure that our combined technology simplifies ever more complex scientific data management, lab automation, and orchestration and frees researchers to research, not perform clerical tasks.”

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About Titian Software

Titian Software is a leading provider of sample management software solutions, catering to the unique needs of research laboratories, biobanks, biotech and pharmaceutical companies worldwide. Titian’s Mosaic Sample Management Software encompasses a comprehensive suite of tools for sample tracking, inventory management, and workflow automation. Mosaic empowers laboratories to efficiently manage vast repositories of samples, including compounds, biological materials, and clinical specimens while ensuring data integrity and traceability throughout the sample lifecycle. https://www.titian.co.uk/

About Labguru

Labguru is a leading secure, cloud-based all- in -one lab data management platform, serving over 750 global customers, including ,, global pharma, Biotech, CROs and research institutes . Scientists utilize Labguru to plan, document, track, automate, and share their research and production. Labguru It encompasses an Electronic Lab Notebook (ELN), LIMS, and an informatics platform, along with molecular biology and chemistry tools and innovative AI modules..  https://www.labguru.com

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