Exciting Developments in Crypto Protocols - December 12, 2023
Date: 2023-12-12 Author: Dima Zakharov Categories: BLOCKCHAIN, IN WORLD
In the fast-evolving landscape of blockchain and cryptocurrencies, staying informed about the latest developments is crucial. On December 12, 2023, CoinDesk journalists released their Protocol Village digest, shedding light on notable advancements in the crypto protocol space. Let's delve into some of the highlights.
Pi Network's Decentralized Moderation in Fireside Forum
Pi Network developers have unveiled a groundbreaking feature known as "Decentralized Moderation" within the Web3-based Fireside Forum application. This innovation aims to create a self-sustaining environment where users actively shape content narratives. Key aspects of this feature include a unique multi-tiered moderation system, where each level has its own token-based incentives and obstacles. Furthermore, real stakes back every decision and action within the system. If a procedure is challenged and rejected, it leads to additional costs. Curatorial rewards and penalties have also been integrated, all designed with a focus on "fairness and accountability."
The Universal Privacy Alliance (UPA)
A consortium of companies, including Nym, Protocol Labs, Filecoin Foundation, Oasis, and Aztec, has established the Universal Privacy Alliance (UPA). According to the new organization's leadership, headed by Nym, UPA is the first alliance with the goal of protecting global digital privacy rights within the Web3 sector. The companies involved bring the perspectives of technology organizations committed to data protection and collaborate with policymakers on digital service compliance laws. The founders of the institution have already invested funds to support blockchain technology development efforts and educational programs.
Verida and inDAO Collaboration for Uzbekistan's Web3 Economy
Independent digital identity provider Verida and inDAO have signed a collaboration agreement with the aim of bringing 36 million citizens of Uzbekistan into the Web3 economy. According to the leadership, by leveraging the inDAO blockchain and Verida wallet, users will gain access to digital technologies that could stimulate economic growth and transform Uzbekistan into a thriving nation.
These exciting developments in crypto protocols demonstrate the rapid evolution of the blockchain industry and its potential to impact various aspects of our digital lives. Stay tuned for more updates on the ever-changing world of cryptocurrencies.
