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Google Cloud becomes main validator on Cronos blockchain

Google Cloud will contribute to Cronos’ decentralization and security, along with other notable validators like Crypto.com and Blockdaemon.

Google Cloud has become the main validator of the Cronos blockchain, showcasing the growing adoption of cryptocurrency by global technology giants.

As an expansion of its strategic partnership with Cronos Labs, Google Cloud will become the main validator on the blockchain, aiming to bring more technical innovation and increase developer adoption on the network.

The partnership is a sign of Google Cloud strengthening its commitment to the Web3 space, according to Rishi Ramchandani, the head of Web3 APAC at Google Cloud. He wrote:

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Cosmos co-founder proposes peer-to-peer clearing system in white paper

Sonic blockchain reaches record 720ms finality in testnet phase

Sonic could become the fastest blockchain by finality if it maintains the performance on its mainnet.

The Sonic blockchain has achieved a transaction finality of 720 milliseconds (ms) during its testnet.

In blockchain, finality is the assurance that a transaction is irreversible, which happens after it is added to a block on the blockchain ledger.

Sonic claims to be the world’s fastest Ethereum Virtual Machine (EVM) chain, with a “true” 720-ms finality, according to Andre Cronje, the creator of the Fantom Network and the chief technology officer of Sonic Labs.

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Cosmos co-founder proposes peer-to-peer clearing system in white paper

Could centralization be the silent killer of AI and cloud innovation?

Explore the risks of centralization in cloud computing and AI and discover how decentralized models are changing the landscape for innovation and independence.

Advancements in cloud computing, data storage and artificial intelligence have transformed how businesses operate and manage information. However, this transformation has also led to challenges because these technologies are highly centralized and in the hands of a few tech giants. 

The cloud computing industry is currently dominated by three key players: Amazon Web Services (AWS), Microsoft Azure and Google Cloud Platform. These companies control over 65% of the global cloud computing market. AWS holds the largest share at 31%, followed by Microsoft Azure at 25% and Google Cloud at 11%. This concentration of power raises several concerns for the broader technology ecosystem.

Growth of leading providers’ customer count since 2019

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Cosmos co-founder proposes peer-to-peer clearing system in white paper

Judge reduces Ethereum dev’s prison sentence by 7 months

Virgil Griffith could be eligible for release as early as January 2025 after pleading guilty to violating US sanctions on North Korea.

A federal judge has granted a motion to reduce the sentence for former Ethereum developer Virgil Griffith, who pleaded guilty to violating sanctions on North Korea.

In a July 16 filing in the United States District Court for the Southern District of New York, Judge Kevin Castel signed off on an order reducing Griffith’s previously imposed sentence of 63 months in prison to 56 months. Judge Castel said the sentence would be effective as of Aug. 2, suggesting he would be eligible for release in January 2025.

Griffith spoke at a cryptocurrency and blockchain conference in the North Korean capital city of Pyongyang in 2019, giving more than one presentation about how the country could use crypto to evade sanctions and for money laundering. He pleaded guilty in 2021 before his criminal trial was expected to begin, and in April 2022, he was sentenced to 63 months in prison and ordered to pay a $100,000 fine.

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Cosmos co-founder proposes peer-to-peer clearing system in white paper

Exploring Sui’s Object-Centric Model and the Move Programming Language

A closer look at how Sui’s object-centric model and the Move language can improve blockchain scalability and smart contract development.

The Sui blockchain has emerged as a novel layer-1 (L1) protocol, incorporating advanced technologies to address common layer-1 trade-offs. Cointelegraph Research unpacks the details of this newcomer to the blockchain space.

Sui uses the Move programming language, which was designed with a focus on asset representation and access control. This article examines Sui’s object-centric data storage model, its implications for transaction processing, and its potential advantages over traditional account-based paradigms.

Sui draws significant inspiration from the Diem blockchain, particularly in its use of the Move programming language for smart contracts. Move was designed with a type system specifically tailored to asset management and access control enforcement. Sui Move builds on this foundation with an object-centric data storage model that uses objects rather than accounts as primitives.

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Cosmos co-founder proposes peer-to-peer clearing system in white paper

EasyA announces 1 million devs in ecosystem

The Web3 educational platform also announced a Polkadot education initiative to help onboard new developers to the blockchain network.

EasyA, a Web3 education platform and incubator, recently announced it had reached a significant milestone by accruing more than 1 million developers in its ecosystem.

Alongside the milestone announcement, EasyA also revealed plans to launch a Polkadot education initiative to help interested developers learn the ropes of the blockchain network and eventually deploy decentralized applications on the Polkadot platform.

Phil Kwok, co-founder and CEO of EasyA, pointed to the educational platform’s significant developer ecosystem as a sign that interest in Web3 has reached a crescendo. “Reaching one million developers is a testament to the insatiable appetite for Web3 education,” Kwok said.

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Cosmos co-founder proposes peer-to-peer clearing system in white paper

US prosecutors oppose Ethereum dev’s motion to reduce 5-year sentence

In April 2022, a judge sentenced Virgil Griffith to 63 months in prison for violating U.S. sanctions on North Korea.

Officials with the United States Justice Department have written a letter opposing former Ethereum developer Virgil Griffith’s motion to reduce his 2022 sentence for violating sanctions on North Korea.

In a June 17 filing in the U.S. District Court for the Southern District of New York, U.S. Attorney Damian Williams argued that a judge should deny Griffith’s motion to reduce his sentence to as little as 51 months. A judge sentenced the former Ethereum developer to 63 months in prison and a $100,000 fine in April 2022, which, considering his time behind bars before the sentencing hearing, makes his expected release date in January 2026.

“Griffith chose to evade the sanctions of his own country to provide services to a hostile foreign power, specifically, services designed to teach and encourage the use of cryptocurrency and blockchain technology to further evade U.S. and United Nations sanctions,” said Williams. “Griffith acted despite knowing that North Korea was committing atrocities against its own people and had made threats against the United States, including nuclear capabilities.”

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Cosmos co-founder proposes peer-to-peer clearing system in white paper

Blockchain dev Sphere introduces bank-to-wallet Telegram extension

Sphere Labs, a blockchain developer focused on bringing stablecoins as a service to businesses, has announced a new bank-to-wallet Telegram extension.

Sphere Labs, a blockchain developer focused on facilitating stablecoin services for business clients, has announced a new fiat on-ramp and off-ramp designed to work within Telegram.

The bank-to-wallet extension will allow Telegram users to shift bank funds directly into their wallets and vice versa within the Telegram app for an advertised fee of 0.1% per transaction for early users.

The service will open to early users the week of May 27, and a full launch is expected later this year.

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Cosmos co-founder proposes peer-to-peer clearing system in white paper

Fantom unveils Sonic Foundation for new Sonic Chain

The CEO of the Fantom Foundation has unveiled the Sonic Foundation, which will oversee the creation and launch of Fantom’s new Sonic Chain.

The Fantom Foundation, the organization behind the Fantom decentralized network, recently announced the creation of a new foundation for facilitating the launch of their new, upcoming Sonic chain.

On May, 23, Fantom Foundation CEO Michael Kong announced the new foundation on the blockchain network’s blog. Kong wrote:

Fantom’s Sonic Foundation will be tasked with overseeing Sonic’s governance, managing the network treasury, orchestrating partnerships, and developing the DApp ecosystem.

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Cosmos co-founder proposes peer-to-peer clearing system in white paper

Tornado Cash verdict has chilling implications for crypto industry

The conviction of Tornado Cash developer Alexey Pertsev reinforces a very broad interpretation of criminal liability, which has major repercussions for blockchain.

The conviction of Alexey Pertsev, a developer of coin-mixing protocol Tornado Cash, comes from a chilling interpretation of criminal liability likely to have wider ramifications for crypto.

The Dutch court’s guilty verdict means Pertsev must now serve a sentence of five years and four months for money laundering through Tornado Cash. This is despite the fact that Pertsev had no direct involvement in the laundering itself.

Andrew Balthazor, a litigator with the legal firm Holland and Knight, spoke with Cointelegraph to explain the implications of the verdict.

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Cosmos co-founder proposes peer-to-peer clearing system in white paper