U.S-based Peer-to-Peer VPN Provider Orchid will start offering a private network for free to journalists across the globe, according to an announcement made on March 20. According to Orchid, journalists who have press credentials and proof of status, regardless of their geographical location, can send an email to the company so they can access the network. VPN free as a measure against press censorship Speaking on the topic, Dr. Steven Waterhouse, CEO and co-founder of Orchid Labs, made some comments regarding the motivations that led the VPN provider to offer such a feature:
“In the wake of crises, freedom of the press often gets restricted. This was demonstrated this week when the Chinese government announced that they would require journalists with expiring press credentials to return them and leave the country. Due to these latest circumstances, Orchid wants to ensure journalists have the ability to access and transmit accurate information, no matter their geographic location.”
Waterhouse highlighted the decentralized technology behind the services offered by Orchid, whose network allows bandwidth providers to earn Orchid digital currency (OXT). Orchid Labs’ CEO highlighted the importance of decentralized blockchain characteristics in building the service, which would grant the user greater privacy. This is especially valuable for journalists residing in countries actively restricting press freedom. On blockchain-based infrastructure, Dr. Waterhouse, who has a Ph.D. in Engineering from the University of Cambridge,said:
“Orchid enables peer-to-peer payments for bandwidth with a probabilistic nanopayment system. This system is a novel layer-2 solution on Ethereum that captures the unforgeability, irreversibility, and censorship resistance that comes with blockchain technology, with the added benefits of negligible transaction fees and availability.”
By issuing a large volume of “lottery tickets” to payment recipients instead of on-chain transactions, says Waterhouse, the network achieves consumer-grade confirmation speeds and negligible transaction fees, while maintaining its independence from a central issuer. The co-founder of Orchid ensures that, due to traffic directed through multiple servers, no single party can see the full picture, something he considers crucial for journalists who can take advantage of the free service.
3 Big Blockchain Firms Working Together On A DeFi Product That Pays Passive Income
In a special announcement made at the Unitize conference on July 6, Cosmos, Polkadot, and Terra revealed a new DeFi savings product called Anchor that aims to offer dependable interest rates on stablecoins deposits. The companies involved in the creation of Anchor plan to launch it across their respective blockchains at the end of Q3 this year and scale across to other PoS blockchains in the future. Do Kwon, founder and CEO of Terra, explained in a prepared statement:
“While DeFi staples such as Maker and Compound have been revolutionary in creating fully decentralized crypto money markets, the volatility of their interest rates makes them unsuitable to be used as a household savings product. DeFi mass adoption needs the creation of a fully decentralized savings account that offers dependable APR.”
Anchor’s smart contracts receive stablecoin deposits and use a portion of them to acquire staking positions on compatible Proof of Stake blockchains. Users will receive their passive income from these staking rewards. The initial governance for this platform will come from the Interchain Asset Association (IAA), a newly formed organization that sees Zaki Manian of Cosmos, Jack Platts of the Web3 Foundation, and Do Kwon of Terraform Labs collectively steering the ship.
Telegram Is Set To Shut Down The TON Testnet By August 2020
Although Telegram has terminated its blockchain project, Telegram Open Network (TON), in May 2020, the TON test net has been apparently running for almost one year. In a July 6 update, the official TON development group on Telegram announced that it would be discontinuing its support of the test network for TON. Remaining TON validators will be turned off by August 1. In the post, the TON official recommended network participants save all their relevant data and stop their testing processes. Despite the testnet being set to shut down less than a month from now, network participants will still be able to continue their experimentation after the testnet is terminated. In order to do that, users can install their own testnet validators, described in greater detail in three different how-to documents containing guidelines for the Full Node, the Validator, and Test Grams.
Telegram launched the TON testnet for explorer and node software on Sept. 6, 2019. In anticipation of its scheduled Oct. 31 launch last year, the company released an alpha version of an iOS wallet to work with its native token, the Gram. But Telegram’s TON plans were never fully realized, as the United States Securities and Exchange Commission suddenly deemed Telegram’s $1.7 billion ICO illegal in mid-October. After a long-running legal battle with U.S. regulators, Telegram agreed to shut down its TON project, as well as return $1.2 billion to investors in line with a court-approved final settlement. As officially announced by Telegram CEO Pavel Durov, the firm had already reimbursed more than $1.2 billion by June 25.
Brock Pierce Enters The 2020 US Presidential Race
Brock Pierce, entrepreneur, crypto venture capitalist, and child star, has announced his USA Presidential run on Twitter July 5. His tweet stated: “
“I, Brock Pierce, am running for President of the United States of America.”
Pierce’s campaign site states that he is a pioneer digital currency and has raised more than $5 billion for the companies he has founded. Pierce is the Chairman of the Bitcoin Foundation and co-founder of EOS Alliance, Block.one, Blockchain Capital, Tether, and Mastercoin (first ICO). His website, sparse on details, does not say if he is seeking a nomination in a political party or if he is running as an Independent.