Elon Musk Launches New AI Firm xAI
Elon Musk announced the formation of xAI, a team led by Musk with executives from Google’s DeepMind, Microsoft, and Tesla. The release from July 12 states that xAI would collaborate closely with Tesla, Twitter, and other businesses owned by Musk to “make progress toward our mission.” The company is aggressively looking to add skilled engineers […]
Axelar, Microsoft Partner for Hybrid Blockchain Solutions
Microsoft and cross-chain protocol Axelar established cooperation on July 11 to connect public and private blockchains. Axelar will join Microsoft’s Azure marketplace due to the partnership and become the first cross-chain protocol to be featured there.Axelar’s representative, Galen Moore, stated that the effort would allow Axelar to connect with tens of thousands of businesses using […]
Consensys Launches Linea zkEVM Rollup Network on Mainnet Alpha
Web3 software technology company, ConsenSys, is launching the alpha version of its Linea zkEVM rollup network on the mainnet. In offering zkEVM rollups on top of Ethereum, the Linea network enables developers to create blockchain applications with quicker transaction times and cheaper transaction costs. Joe Lubin, the CEO and creator of Consensys, said: “Ethereum [layer […]
Brazil’s CBDC Functionality to Allow Central Bank to Manage User Funds
Pedro Magalhes, a blockchain developer, claims to have successfully reverse-engineered the code of the Brazilian central bank’s test digital currency (CBDC). He identified the capabilities that allow a centralized authority to freeze funds or lower balances. Although there have been questions about these capabilities, the developer contends that there may be circumstances in which they […]
Algorand’s Largest DeFi Protocol Algofi to Shut Operations
The borrowing and lending protocol Algofi, which was developed on the Algorand decentralized finance blockchain, will shortly be shut down. The Algofi platform will soon be shut down, despite the fact that developers’ “belief in the strength of Algorand’s technology and novel consensus algorithm has not wavered,” according to a July 11 announcement: “A confluence […]