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LayerEdge: The Future of BTCFi with Programmability

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5 months ago

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Singapore, 16th May 2024, ZEX PR WIRE, Bitcoin came into existence to overcome the fundamental flaws in the trust-based architecture and create an ecosystem based on cryptographic proof. Although Bitcoin’s ethos emphasizes its use cases as a peer-to-peer commodity for a trustless ecosystem, it lacks programmability — limiting its adoption for decentralized financial utilities. Ethereum, on the other hand, boosted the adoption with on-chain programmability enabling a trustless ecosystem.

Post Bitcoin’s Taproot upgrade, the ecosystem has seen significant development around the Bitcoin L2’s — providing a scalable and cost-efficient channel for developers and users to engage without paying high gas fees, and allowing to tap into high liquidity. This solidifies the notion that BTCFi isn’t just a fluke, but can truly drive adoption.

Even though Bitcoin L2 fixes the programmability problem, enabling a trustless setup and smooth flow of liquidity — security and adoption remains a major concern.

Introducing LayerEdge, a Programmability Layer inheriting Bitcoin’s native security for network operations, allowing for faster and cheaper network operations with Optimistic Rollups while providing an EVM friendly developer environment — amplifying the use of Bitcoin’s native assets like conventional commodities.

With LayerEdge, unlock the true potential while still being aligned to Bitcoin’s ethos of a secure and trustless financial system.

Head to the Origin — LayerEdge

LayerEdge, a Programmability Layer for the Bitcoin Ecosystem enables faster and cheaper network operations while leveraging Bitcoin’s native security — amplying DeFi applications for Bitcoin native across a wider network with EVM compatibility. To top it off, our Hybrid Modular DA enables native verification of data on the Bitcoin network.

With LayerEdge, reimagine the Bitcoin ecosystem with boosted utilities, native security, and programmability.

Natively Secure

LayerEdge leverages Bitcoin’s native infrastructure and bundles the transaction on top of it, providing one of the most secure systems. Presently, POS chains rely on developing their own validators internally. While on the other hand, LayerEdge acts as an execution layer, utilizing Bitcoin for settlement.

Near-Zero Gas Fees

LayerEdge utilizes optimistic rollup, enabling us to operate the network even with just one honest validator. This approach enables LayerEdge to achieve nearly zero gas fees, all while maintaining security level similar to Bitcoin’s Native Security.

Programmability — EVM Compatible

With EVM compatible, LayerEdge offers programmability and smooth user experience to boost developer adoption — allowing projects to tap into liquidity and enable utility for Bitcoin’s Native Assets.

LayerEdge deBridge — Trust-minimised Bridge for Bitcoin & Inscriptions

LayerEdge’s deBridge allows users to bridge their native assets from Bitcoin to LayerEdge ecosystem securely without having the funds to be stored with any single entity.

This opens up a utility layer for vaster adoption of Bitcoin’s Native Assets and Inscriptions like Runes — enabling yield generation and use case across the DeFi ecosystem.

Under the hood

LayerEdge employs a federated multi-party computation (MPC) approach to manage the key used for validating bridging requests, ensuring no single entity controls the critical signing key. The MPC key is generated through a secure ceremony involving multiple relayer agents, with the key never assembled entirely in one place, preventing single points of failure.

Rather than relying on multi-sig or other traditional methods, LayerEdge’s relayers participate in the MPC ceremony for each bridging event, enabling distributed computation on secret inputs without revealing outputs. LayerEdge’s federated MPC system distributes control of the signing key, bolstering the integrity of the bridge and providing a secure foundation for cross-chain transactions and data transfers.

LayerEdge’s Hybrid Modular DA

Bitcoin is inherently designed to carry out transactions, not for data storage. Attempting to use Bitcoin as a DA solution would lead to high fees and slower confirmation times due to limited block space. This approach is impractical for rollups and creates a bottleneck in delivering a satisfactory user experience.

Thus, the necessity arises for a DA capable of interfacing with Bitcoin, and existing DAs meet this need — saving time and effort. LayerEdge enables integration with these DAs, establishing a connectivity layer with the Bitcoin network.

With LayerEdge’s Hybrid Modular DA, any existing DA can function as a Bitcoin DA, enabling modularity. This means that any Bitcoin Layer 2 rollup network can then utilize Bitcoin’s security features.

Under the hood

The Hybrid DA stores block data on existing Data Availability (DA) Layers and posts its state proof on Bitcoin. This functions as a reliable verification mechanism, as the state proof acts as a cryptographic commitment to the entire block data.

By posting the state proof to Bitcoin, the robust security and decentralization of Bitcoin can be leveraged to provide a trustless means of verifying the integrity of the data stored on the DA Layer.

LayerEdge’s Hybrid DA Layer approach significantly reduces block time and increases finality. While Bitcoin has a 10-minute block time, layerEdge’s Hybrid DA aims for a 12–20 second block time — making it 100x faster. This rapid finality provides –

1) Efficiency: Faster block times allow the network to process transactions and execute smart contracts more efficiently, improving the overall user experience.

2) Responsiveness: The quick finality enables more responsive and interactive applications to be built on top of the blockchain, as users don’t have to wait as long for their transactions to be confirmed.

3) Scalability: The faster block times help alleviate some of the scalability challenges faced by Bitcoin, as more transactions can be processed per unit of time.

Future of BTCFi with LayerEdge

The Origin

The Origin stage will focus on deploying LayerEdge’s EVM-compatible Testnet, along with the Testnet EVM Bridge and LayerEdge’s Hybrid Modular DA Testnet.

The Block

The Block stage will focus on deployment and mainnet launch, introducing the Hybrid Modular DA and native Bridge. This allows users to bridge their native assets from Bitcoin, EVM, and various non-EVM ecosystems.

LayerEdge is also building in collaboration, an MPC-based bridge for Bitcoin — enabling a secure and seamless bridge for native assets like BTC, Inscriptions, BRC20, Runes, and more with multiple trusted Relayers, with MPC key not being generated at entirety at any single place, with recognized various third-party audits.

The Sequencer

The Sequencer upgrade will facilitate final settlement on the Bitcoin network by migrating sequencers to the Bitcoin network. While more details and updates await, and will be revealed with future announcements.

Conclusion

LayerEdge marks the inception of a hyper-secure and one of the most efficient infrastructures for Bitcoin leveraging optimistic stack and hybrid modular DA approach — enabling trustless verification and rapid transaction finality.

Website | Documentation | Testnet Explorer | Twitter | Medium | Discord | Telegram

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Press Release

TycheTools Advances at the Extreme Tech SemiAI Cup

Published

47 mins ago

on

October 25, 2024

By

TycheTools is thrilled to announce that we have advanced in evaluations for the Extreme Tech Challenge Semiconductors and AI Startup Cup, sponsored by ARM and Hon Hai Technology Group (“Foxconn”). Competing in the special category for advances in Data Center Efficiency, TycheTools is driving crucial innovations to reduce the environmental impact of data centers.  

“The Extreme Tech Challenge is an incredible opportunity to connect with tech leaders and venture capitalists,” says Cristina Chu, CEO of TycheTools. “I’m excited to return to San Francisco to be part of an event that celebrates innovations in AI and sustainability. We believe in the power of technology to create a better future. Advancing in this competition is a major milestone on our journey.”

Michael O’Keeffe, Senior Vice President of Global Services at Vertiv, highlighted their collaboration with TycheTools: “Our pilot at a major telecommunications provider’s data center in Madrid demonstrated the power of TycheTools’ hybrid AI cooling control. During the peak of the Madrid summer, their solution delivered significant energy savings, improved thermal stability, and gave operators greater control—all within hours of deployment.”

TycheTools CTO and founder, Jose Manuel Moya, will be attending the announcement of finalists with Cristina at Salesforce Tower on October 28th. “Tyche,” adds Cristina, “is taking the lead on machine learning to optimize thermal environments and control cooling holistically in data centers. We’re ready to scale these solutions globally and help shape the future of sustainable data center operations.” 

About Extreme Tech Challenge (XTC) 

Founded by legendary Silicon Valley venture capitalists Young Sohn and Bill Tai, XTC is the world’s largest platform to accelerate startups addressing the UN Sustainable Development Goals. XTC provides exceptional founders the potential for global visibility, venture investment, corporate collaborations, and world-class mentorship. Since 2015, XTC finalists have raised $4.4B+ in investment capital. For more information, and for the latest news and content from XTC, visit extremetechchallenge.org 

About Vertiv 

Vertiv (NYSE: VRT) brings together hardware, software, analytics and ongoing services to enable its customers’ vital applications to run continuously, perform optimally and grow with their business needs. Vertiv solves the most important challenges facing today’s data centers, communication networks and commercial and industrial facilities with a portfolio of power, cooling and IT infrastructure solutions and services that extends from the cloud to the edge of the network. Headquartered in Westerville, Ohio, USA, Vertiv does business in more than 130 countries. For more information, and for the latest news and content from Vertiv, visit Vertiv.com. 

About TycheTools 

TycheTools brings together hardware, software, analytics and artificial intelligence to enable customers to automate their cooling systems, saving energy while optimizing performance. TycheTools solves the most important challenges facing today’s data center operators, whether they run a colocation, enterprise or hyperscale facility.  Our smart software manages cooling systems, so operators can deliver the tightest control to their customers and get their weekends back.  For more information, visit TycheTools.com 

Media Contact:
Company Name: TycheTools
Contact Person: Ken Dubin
Email: ken.dubin@tychetools.com
Country: Spain
Website: https://tychetools.com/

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Press Release

GS Holdings to Acquire Integrated Beverage Solutions Group, Octopus Distribution Networks, for S$11.8 Million

Published

47 mins ago

on

October 25, 2024

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Accretive acquisition that is synergistic to the Group’s business model and expected to yield significant opportunities and additional financial benefits. Bringing a wealth of expertise and talent that enhances the Group’s leadership and experience in the F&B industry. The Group recently completed a rights issue that was oversubscribed with net proceeds of S$8.4 million raised for future expansion and working capital.

On the left: Independent and Non-Executive Chairman of GS Holdings Limited, Mr Irwin Lim

On the right: Founder and Chairman of Octopus Distribution Networks Pte. Ltd., Dato Elaine Teh

SINGAPORE, 23 October 2024 – GS Holdings Limited (“GS Holdings” or the “Company” or “伟盛有限公司” and together with its subsidiaries, the “Group”), is pleased to announce that the Group has signed a binding agreement to acquire Octopus Distribution Networks Pte. Ltd. (“Octopus Distribution Networks”), a Singapore-based integrated beverage solutions group, for a purchase consideration of S$11.8 million.

GS Holdings’ Independent and Non-Executive Chairman, Mr Irwin Lim Kee Way, said, “We are pleased to announce the acquisition of Octopus Distribution Networks, which provides the Group with immediate access to new customer base and operating scale within the beverage sector in Singapore’s F&B industry.

Led by Dato’ Elaine Teh, the team at Octopus Distribution Networks has built an exceptional business enterprise that is dedicated to operational excellence and customers satisfaction for over 13 years.

With fully in-place infrastructure, including personnel and distribution networks, Octopus Distribution Networks has differentiated itself with unique value propositions and a strong base of customers, and we believe that there are significant opportunities for growth in existing and new markets.

I trust this next step in our journey together will be incredibly positive for the Group.”

Octopus Distribution Networks’ Founder and Chairman, Dato’ Elaine Teh, added, “Today’s announcement marks a major step forward in our growth ambitions within the region’s F&B industry.

With the combined expertise, experience and resources, we will continue to build strong relationships with our customers and delivering value that consistently exceed expectations.

Together with GS Holdings, we are excited about accelerating the growth of our businesses and delivering results for years to come.”

Accretive acquisition that is synergistic to the Group’s business model and expected to yield significant opportunities and additional financial benefits

Founded in 2011 by serial entrepreneur Dato’ Elaine Teh Chooi Peng (“Dato’ Elaine Teh”), Octopus Distribution Networks has grown to become one of the leading integrated beverage solutions group in Singapore, providing a “one-stop” solutions hub, in the area of brand management, import, export, distribution, logistics and warehousing of alcoholic and non-alcoholic beverages and liquor, for both customers and beverage brand owners.

For customers, Octopus Distribution Networks represents an extensive portfolio of globally recognised beverage brands with various exclusive distribution rights. Currently, Octopus Distribution Networks has a product portfolio of more than 1,500 SKUs across approximately 200 beverage brands from 50 global brand owners. Octopus Distribution Networks also provides customised services that cater to the demands of both corporate and individual clients.

For beverage brand owners, Octopus Distribution Networks has become a trusted partner and a preferred beverage distributor in Singapore with a comprehensive distribution network comprising strategic distribution centres and third-party wholesalers in Singapore. With a deep understanding of the Singapore market, Octopus Distribution Networks also provides other value-added services, including market expansion strategies and customer engagement solutions, that aims to enable brand owners to quickly build brand loyalty and market share in Singapore.

Bringing a wealth of expertise and talent that enhances the Group’s leadership and experience in the F&B industry

Under the acquisition agreement, Dato’ Elaine Teh will become a controlling shareholder of GS Holdings and it will also bring on a professional management team with 80 years of collective experience in the beverage distribution industry to the Group.

Dato’ Elaine Teh is a serial entrepreneur with an accomplished business track record in various business ventures in Singapore, Malaysia and Australia.

Besides her current role as Founder and Executive Chairman of Octopus Distribution Networks, Dato’ Elaine Teh also holds multiple executive-level roles in various companies in different countries.

She is a Non-Executive Director of ASX-listed Australian Vintage Ltd, a leading Australian wine and drinks company, where their diversity of regions, broad portfolio of global brands, production capabilities and established winemaking pedigree have resulted in its brands being recognised and available in over 40 countries. Dato’ Elaine Teh is also the Founder & Executive Chairman of Etagreen Group in Malaysia, which is the owner and operator of a zero-waste biomass power plant in Perak, Malaysia, with assets of more than RM140 million.

In addition to her business roles, Dato’ Elaine Teh is actively involved in various business councils that nurture women entrepreneurs, promote gender diversity and inclusion, develop greater business collaborations and engagement with government agencies. Philanthropy is also something Dato’ Elaine Teh holds close to her heart, and she has generously facilitated several community building causes and initiatives across Southeast Asia with her time and resources.

Supporting Dato’ Elaine Teh as part her management team at Octopus Distribution Networks is Managing Director, Mr Matthew Ruscoe, who has been a trailblazer in Asia’s F&B and marketing industry for more than 12 years. With deep industry experience and strong regional network from his previous roles as the Regional Sales Director of Kerry Group and the Sales Director of Carlsberg Myanmar, Matthew undertakes a pivotal role in managing Octopus Distribution Networks’ marketing activities, supply chain operations and driving its strategic initiatives forward.

None of the Directors or substantial shareholders of the Company, as well as their respective associates, has any direct or indirect interest in the transaction stated here, other than through their respective shareholdings (if any) in the Company.

About GS Holdings Limited

(Bloomberg Code: GSHL:SP / Reuters Code: GSHO.SI / SGX Code: 43A)

GS Holdings Limited (“GS Holdings”) was incorporated in Singapore on 19 September 2014 and listed on Catalist on 18 January 2016.

With an aim to diversify its business model and create additional streams of income, GS Holdings has expanded into various business ventures in the food and beverage (“F&B”) industry. To harness its growth opportunities, GS Holdings is looking to further expand its brand presence across Asia and beyond via new franchising, licensing and distribution models.

For more information, please visit https://gsholdings.com.sg/.

This press release is to be read in conjunction with the Company’s announcement released on 23 October 2024, which can be downloaded via www.sgx.com.

Issued on behalf of GS Holdings Limited by 8PR Asia Pte Ltd.

Media Contact:
Company Name: 8PR
Contact Person: Alex Tan
Email: alex.tan@8prasia.com
Country: Singapore
Website: https://gsholdings.com.sg/

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Press Release

Shared Pets LLC Launches Revolutionary High-Tech Products to Enhance Pet Care Experience

Published

8 hours ago

on

October 24, 2024

By

United States, 24th Oct 2024 – Shared Pets LLC, a leading innovator in the pet care industry, is excited to announce the launch of its latest line of smart, high-tech products designed to improve the lives of pets and their owners. Focused on merging advanced technology with pet care, Shared Pets LLC is committed to creating solutions that offer convenience, entertainment, and health benefits for pets and their families.

The company’s mission is clear: to enrich the bond between pets and their owners by offering innovative products that simplify daily care routines and enhance the quality of life for both. Each product in Shared Pets LLC’s collection is designed with the modern pet parent in mind, combining technology and functionality to make pet ownership more enjoyable and hassle-free.

A Vision for Enriching Pet Lives

Shared Pets LLC strives to bring the latest advancements in technology to the pet care sector, ensuring pets receive the best care possible while strengthening the connection between pets and their families. The company meticulously designs and selects its product range to meet the highest standards of quality, innovation, and usability. From smart feeders to health monitoring devices, Shared Pets LLC aims to make every moment spent with pets more rewarding.

“Our mission is to provide pet owners with high-tech solutions that improve their daily interactions with their pets,” a spokesperson for Shared Pets LLC shared. “We recognize the deep bond between pets and their families, and we want to support that relationship with products that offer both practical benefits and joy.”

Innovative Product Offerings for Modern Pet Owners

Shared Pets LLC’s product line includes an impressive range of high-tech pet care tools, such as smart feeders, interactive toys, GPS trackers, and health monitoring devices. These products are designed not only to improve pet well-being but also to provide peace of mind and convenience for pet owners.

  • Smart Feeders: These innovative feeders allow pet owners to manage and monitor their pet’s meals remotely, ensuring proper portioning and timely feeding, even when they are away from home.
  • Interactive Toys: Designed to keep pets mentally stimulated and entertained, these toys offer interactive features that engage pets, helping reduce boredom and anxiety.
  • GPS Trackers: These devices provide pet owners with real-time location tracking, ensuring the safety and security of their pets wherever they may roam.
  • Health Monitoring Devices: Shared Pets LLC’s health-focused devices help pet parents keep track of their pet’s physical activity and well-being, allowing for early detection of health issues and promoting overall fitness.

Crafted with Premium Materials

All Shared Pets LLC products are handmade using high-quality materials to ensure durability, comfort, and safety. The company places a strong emphasis on creating products that meet the highest standards of reliability while maintaining an aesthetic appeal that suits both pets and their owners.

Bringing the Future of Pet Care Today

Shared Pets LLC is dedicated to pushing the boundaries of pet care by leveraging cutting-edge technology to simplify pet ownership and create more interactive experiences. The company invites pet owners to explore its innovative products and discover how technology can enhance the care, safety, and happiness of their pets.

For more Information visit https://sharedpets.com 

About Shared Pets LLC

Shared Pets LLC is a technology-driven company that specializes in creating high-quality, innovative pet care products. Focused on merging the latest advancements in technology with practical pet care solutions, Shared Pets LLC aims to enhance the bond between pets and their owners while providing products that are both functional and enjoyable.

Media Contact

Organization: Shared Pets LLC

Contact Person: PR Contact

Website: https://sharedpets.com/

Email: Send Email

Country: United States

Release Id: 24102418970

The post Shared Pets LLC Launches Revolutionary High-Tech Products to Enhance Pet Care Experience appeared on King Newswire. It is provided by a third-party content provider. King Newswire makes no warranties or representations in connection with it.

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