Wednesday, Nov 29, 2023

Latest Crypto News: World Mobile Launched On Google Play, Binance.US Ties Up MoonPay As Banking Alternative

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Latest Crypto News: World Mobile Launched On Google Play, Binance.US Ties Up MoonPay As Banking Alternative

Here are some of the major developments from the world of crypto of the past few days

World Mobile, a provider of a decentralised wireless (DeWi) network, has announced the availability of their app on Google Play for consumers in the US, the UK, Australia, Canada, and Tanzania.

The launch follows a series of beta testing that were carried out in several markets, including
Kenya, Mozambique, and Nigeria, which are traditionally regarded as being underserved in terms of mobile connectivity and accessibility. 

The World Mobile app is also presently accessible in Zanzibar.

World Mobile said that the goal of its DeWi services is to close the gap between established telecom companies and those operating in underdeveloped communities. It accomplishes this by offering some connectivity services, promoting a Blockchain-based sharing system, and using various Cardano-based tokens in addition to its own World Mobile Token (WMT) unique token.

The company also announced a partnership with artificial intelligence company SingularityNET.

Binance.US Ties Up MoonPay As Banking Alternative

Binance.US has announced a new cooperation with cryptocurrency payments company MoonPay to enable customers to purchase the dollar-pegged Stablecoin Tether to use on its platform, two months after switching to a crypto-only model.

The cryptocurrency exchange declared on August 22, 2023 that USDT would serve as the new “base asset” for all transactions, adding that its collaboration with MoonPay gives customers a way to deal in dollars.

The newly-formed alliance follows after Binance.US experienced a breakdown with its banking partners, which resulted in the exchange’s fiat deposits being suspended on June 9, 2023. 

The US Securities and Exchange Commission (SEC), which had sued the exchange and its affiliates four days earlier, was blamed at the time for the disruption, using “aggressive and intimidating” tactics.

Stellar Joins Bytecode Alliance To Develop EVM Alternative Wasm

The Stellar Development Foundation has joined the Bytecode Alliance, an industry group promoting the development of WebAssembly (Wasm), an alternative computation engine for running smart contracts, Tomer Weller, the product lead for Stellar Development Foundation announced on August 21, 2023.

The Ethereum Virtual Machine (EVM), which is utilised by the Ethereum ecosystem, is rivalled by Wasm. Additionally, it is used in browser-based, non-Blockchain apps.

An EVM is a virtual machine or compute engine designed to carry out smart contracts. It is used by the majority of Blockchain networks, such as Ethereum, BNB Smart Chain, and Avalanche, among others. However, a few networks, such as Polkadot, MultiversX (formerly Elrond), and Internet Computer, use Wasm.

Incidentally, in 2014, Stellar launched as a payments network. Later, in 2022, it introduced smart contracts to provide more capability to the network. The creators of Stellar Development Foundation also chose Wasm as their compute engine in April 2022. 

Despite EVM's widespread use, they claimed that the “storage and execution models are expensive and difficult to parallelise”, which “gets in the way of scalability” and raises the cost of transactions.