1. Home
  2. CTO

CTO

Aptos co-founder and CEO Mo Shaikh steps down to ‘start new chapter’

Mo Shaikh, who co-founded the firm in 2021 alongside Avery Ching said he would stay on board at Aptos Labs as a strategic adviser.

Mohammad Shaikh, the co-founder and CEO of layer-1 blockchain Aptos Labs, has resigned from the top position to “start a new chapter,” with co-founder and chief technology officer Avery Ching now taking over as the new CEO. 

Shaikh co-founded Aptos Labs alongside Ching in 2021, helping Aptos mainnet launch in October 2022. He helped the firm raise $400 million and establish key partnerships. 

“Today I am stepping away from Aptos Labs to start a new chapter,” Shaikh said in a Dec. 19 X post before expressing confidence in the firm’s future.

Read more

Bitcoin Miner Terawulf to Deliver 70 MW Data Center Infrastructure for AI Expansion

Ripple CTO says ‘tide is turning’ on US regulatory environment

David Schwartz believes the U.S. legal system is looking more skeptically at SEC cases against various cryptocurrency industry participants.

A court ruling that cleared Ripple's XRP token of being considered a security offering might signal a turn in the tide against regulatory scrutiny of the cryptocurrency ecosystem in the United States and current lawsuits involving the likes of Coinbase and Binance.US and pending ETF applications.

Speaking exclusively to Cointelegraph during the company’s annual Apex developer conference being hosted in Amsterdam, Netherlands, Ripple CTO David Schwartz weighed in on the potential precedent set by a federal judge ruling that XRP was not a security when sold programmatically on cryptocurrency exchanges.

Ripple has been entwined in a protracted legal battle with the U.S. Securities and Exchange Commission since 2020, but its recent part victory may have positive implications for a number of crypto-related lawsuits instituted by the SEC.

Schwartz admitted that the SEC case had cost Ripple business deals that had been on the table, but stressed that the bigger loss was felt in the community as ecosystem support felt stifled by the delisting of XRP across a number of prominent exchanges. This has since changed with the latest ruling in favour of XRP:

“The ruling that we've had so far was sufficient to allow exchanges to relist XRP, and it was big, I think, for the entire ecosystem.”

Schwartz said that the tide was perhaps turning in the United States, where crypto ecosystem participants began considering relocating to different jurisdictions in order to continue operating away from a cloud of regulatory uncertainty:

“I feel bad that I have to tell people that the United States is probably not where they want to be, but the tide is turning. You know, the ruling in our suit that basically said that XRP is not inherently a security, that’s huge.”

Schwartz said that the wider industry was now feeling the scrutiny that Ripple had first endured from the SEC in 2020, with the likes of major cryptocurrency blockchains like Solana, Cardano and Polygon seeing their respective tokens labeled alongside others as unregistered securities in the SEC’s lawsuits against Coinbase earlier in 2023.

“They (SEC) can apply these very same arguments to whatever cryptocurrency you like or whatever business you like. Fortunately, people understand that argument a lot better now that they've seen the SEC go after Coinbase and others and some of the things they've done.”

The Ripple CTO also believes that U.S. judges are looking more skeptically at cases brought forward by the SEC and that companies with the resources are taking a stand that will benefit the wider industry.

“They're starting to get huge pushback from Coinbase and pushback on the ETFs. Hopefully that will prompt some changes at the legislature level, hopefully positive ones.”

Ripple's Apex conference brings together developers building within the XRP Ledger blockchain ecosystem. The blockchain forms the backbone of RippleNet, the platform that manages Ripple's XRP payments system. 

Magazine: NFT collapse and monster egos feature in new Murakami exhibition

Bitcoin Miner Terawulf to Deliver 70 MW Data Center Infrastructure for AI Expansion

Sushiswap Smart Contract Bug Results in Over $3M in Losses; Head Chef Says Hundreds of ETH Recovered

Sushiswap Smart Contract Bug Results in Over M in Losses; Head Chef Says Hundreds of ETH RecoveredAccording to several reports, a bug introduced to the decentralized exchange (dex) protocol Sushiswap’s smart contract has resulted in more than $3 million in losses. The blockchain and smart contract security firm Peckshield explained the exploited contract was “deployed in multiple blockchains.” Dex Platform Sushiswap Suffers From Smart Contract Exploit Over the weekend, the dex […]

Bitcoin Miner Terawulf to Deliver 70 MW Data Center Infrastructure for AI Expansion

Bitcoin Could Easily Rip by Over 140% Amid Banking Crisis, Says Tether CTO Paolo Ardoino – Here’s the Timeline

Bitcoin Could Easily Rip by Over 140% Amid Banking Crisis, Says Tether CTO Paolo Ardoino – Here’s the Timeline

Tether’s chief technology officer (CTO) Paolo Ardoino is expressing bullish sentiment on Bitcoin (BTC) as the flagship crypto asset sits below $30,000. Ardoino says in a new CNBC interview that Bitcoin could “easily retest” its all-time high of slightly above $69,000 reached in November of 2021. “I’m bullish given all what I said in terms […]

The post Bitcoin Could Easily Rip by Over 140% Amid Banking Crisis, Says Tether CTO Paolo Ardoino – Here’s the Timeline appeared first on The Daily Hodl.

Bitcoin Miner Terawulf to Deliver 70 MW Data Center Infrastructure for AI Expansion

Nokia uses the Metaverse to connect remote breweries, train aircraft techs

Once known as a manufacturer of hardy mobile phones, Nokia has been working on developing industrial use cases for the Metaverse.

From beer breweries on opposite ends of the globe to aircraft technicians in isolated airports, telecoms infrastructure firm Nokia has been looking for ways to use the Metaverse to aid remotely-located workers.

Nokia, who many remember as a manufacturer of consumer mobile devices, has since pivoted into developing technology and equipment that “delivers the internet.”

Robert Joyce, CTO of Nokia Oceania told Cointelegraph that part of those plans also includes delivering the Metaverse.

“Nokia set up two labs last year to really look at the Metaverse and the technologies that underpin the Metaverse.”

Last year, Nokia began collaborating with an Australian university to deliver a 5G-connected microbrewery using metaverse technology, noted Joyce.

Using Augmented Reality (AR), researchers from a brewery tech lab at the University of Technology Sydney have been working alongside researchers from a twin facility at Dortmund University in Germany.

The University of Technology Sydney “Industry 4.0 Nano-Brewery” Source: UTS

“They actually do joint experiments where they brew beer, they change the process, the temperature, the timings, the volumes, the recipes [...] and they feed back all of that brewing process into the digital twin,” he explained.

“Then they can actually simulate brewing in the digital twin so they can perfect the beer in the digital space."

Meanwhile, in South Australia, Joyce said Nokia has been using the metaverse to potentially assist Cessna aircraft technicians at remote airports. 

“We worked with a company that had a virtual Cessna aircraft [...] You’ve got a Cessna in front of you, and then you have an audio instruction in your ear to tell you how to change the wheel, or change a part on the engine," said Joyce.

“We had a 5G connected Microsoft HoloLens and we were able to instruct people on how to service a Cessna using augmented reality in this case.”

Pictured: Cessna Aircraft is being serviced virtually. Source: Robert Joyce on LinkedIn

Earlier this month, Nokia's global chief strategy and technology officer Nishant Batra told the World Economic Forum (WEF) that the Metaverse will have the biggest immediate impact on industries, rather than the consumer market.

“Ports have begun using digital twins to track every container on their docks, no matter how deeply they are buried in stacks. Aerospace companies are building engines and fuselages in the digital world to simulate exactly how an aircraft will fly – long before they tool its first mechanical part,” wrote Batra in a Jan. 13 WEF op-ed.

Joyce agreed with the statement, adding he doesn’t expect the “consumer metaverse” to take off until 2030.

He said by next year there will be five times the revenue spent on the “industrial Metaverse” compared to the consumer or enterprise Metaverse.

“The technology is not there yet, the technology is clunky,” said Joyce, referring to currently available consumer Metaverse devices.

“It's not the best experience to have a Quest 2 on your head for a couple of hours, and it's not until people get to the augmented reality wearables that are comfortable [and] mass-produced.”

“We see this three or five-year lag before we actually see massive uptake in consumer virtual reality or augmented reality services.”

Related: An overview of the metaverse in 2022

Asked how blockchain will play a part in the future of the Metaverse, Joyce was optimistic that the technology will be key when payments or a transfer of assets is involved.

“Clearly if you wanted integrity within a metaverse, then blockchain will play a part,” said Joyce.

“If I was going to buy a house next to Snoop Dogg’s and want to ensure that it couldn’t be lifted and shifted and copied, that's where blockchain is quite useful in terms of maintaining uniqueness in a digital space.”

Joyce however said that he doesn’t believe blockchain is a necessity in all applications.

“It's not an essential underpinning technology for the Metaverse but I'm glad we've got it [...] and it will be used in the Metaverse,” he concluded.

Bitcoin Miner Terawulf to Deliver 70 MW Data Center Infrastructure for AI Expansion

Former SushiSwap CTO writes short reflection about leadership failures at blockchain DEX

"In the end, ultimately, I failed to deliver because of my compounding failures and will incorporate this knowledge into my next project," said Delong.

On Friday, Joseph Delong, former chief technology officer of decentralized exchange, or DEX, SushiSwap, published a brief reflection of experiences during his tenure.

Delong unilaterally resigned two days prior, citing internal structural chaos among developers behind the popular DEX. In explaining his decision, Delong outlined failures to scale operations, lack of organization skills, problematic contributors and poor communication as the primary reasons. On Twitter and among blockchain personalities alike, Delong received mostly praise for coming public with his experience and learning from his mistakes.

According to Delong, he did not inform the Sushi community when problems began to surface among the developers he managed, nor did he engage with users enough to build rapport for the project. In addition, Delong talked about using his personal Twitter presence to share his feelings about SushiSwap developments. This was a polarizing decision among the SushiSwap community. Some users have praised him for being authentic with his feelings, while others labeled the move as unprofessional or inconsiderate to stakeholders.

Prior to being chief technology officer at SushiSwap, Delong was a senior software engineer at ConsenSys. Due, in part, to his leadership, SushiSwap has grown to become the 13th largest DEX by trading volume. However, the protocol has also faced its share of setbacks.

In summing up the experience, Delong stated:

I think the imperfect birth of Sushi has led to additional problems, and in my next project, I will have the capability to structure an organization to empower the contributors. Thank you for allowing me to lead Sushi through this time, and I wish Sushi the best of luck.

Bitcoin Miner Terawulf to Deliver 70 MW Data Center Infrastructure for AI Expansion

Encrypted Messenger Company Signal Faces Scrutiny Over Mobilecoin Integration

Encrypted Messenger Company Signal Faces Scrutiny Over Mobilecoin IntegrationSignal, the cross-platform encrypted messaging service is facing criticism this week, after the company Signal Messenger told the public it was integrating the cryptocurrency mobilecoin. Moreover, controversy surrounds the company’s founder and CEO Matthew Rosenfeld, known as ‘Moxie Marlinspike’ over his previous ties with the Mobilecoin project. The Relationship Between Mobilecoin and Signal During the […]

Bitcoin Miner Terawulf to Deliver 70 MW Data Center Infrastructure for AI Expansion