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Minima, L1 blockchain, powers the world’s first on-chain race data logger for McLaren GT4 supercar at Spa

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3 months ago

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Minima has partnered with data acquisition platform Influx to provide integrated data capture for the world’s most prestigious race teams

LONDON, June 12, 2024 /PRNewswire/ — Minima, a fully decentralised and device-agnostic L1 blockchain for DePIN projects is working with data platform Influx Technology to integrate a blockchain-powered data tracker into a McLaren GT4 supercar ahead of the world-famous Spa-Francorchamps in June. The data, acquired directly from the engine by the ‘DePIN Data Logger’, is secured by Minima’s blockchain which provides immutable data provenance. This unseen approach promises to elevate data capture and analysis to unprecedented levels for the world’s most prestigious racing teams.

Data points on over twenty parameters including vehicle ignition timing, braking, oil pressure, engine temperature, steering angle and rotation, as well as gear switching, are collected by the ‘DePIN Data Logger’ in real time. For instance, during a recent race test in the UK, engineers from the team discovered that one of the car’s wheels was turning 1/50th of a second slower than the others. Although this discrepancy might seem insignificant at first glance, it becomes vital throughout the course of a race when split seconds dictate the difference between winning and losing.

“This integration of blockchain technology into the data collection and transmission process is a revolution for motorsport. It goes beyond merely transferring data from a logger to a screen; it enables fans and officials to access relevant information in real time. Minima’s innovative capability to validate data as it is generated by the car ensures that teams receive reliable data precisely when needed, allowing for those critical split-second decisions from the pit wall,” said Oliver Plucknett, Race Lab team manager. “The ability to streamline all available data collected over a race enhances decision-making processes and overall performance.”

Minima’s innovative blockchain design secures the hash of the data, proving its history and integrity, while the actual data is stored on the device or in cloud storage, independent of validators’ permissions. Due to the low requirements to validate the data on the blockchain, any IoT device can operate a full node and collect its data. This allows data to be verified by other nodes on the network while being stored on the device itself.

“We believe that the full potential of blockchain has yet to be realised. To achieve mainstream adoption, it must provide real-world utility and seamless integration. We are collaborating with Influx to resolve a real challenge faced by the automotive industry. Running on the edge in the strictest automotive embedded environment, Minima ensures data is secured, maintaining audibility, trustworthiness, and compliance. This partnership sets a new standard in race data logging, combining cutting-edge blockchain technology with the prestige and precision of McLaren’s racing heritage in their GT4 supercar,” said Hugo Feiler, co-founder and CEO of Minima. 

As Mr Plucknett mentions, collecting data on an immutable ledger enables officials to ensure the cars comply with the competition rules. A major challenge in the industry is ensuring that cars observe the competition’s capping requirements. The regulatory body of SRO Motorsports Group competitions mandates that teams cap the performance of competing cars to maintain fairness. Since the factory settings of each vehicle vary, this regulation aims to level the playing field and ensure a fair race.

A common practice is to detune cars for testing laps and enhance their capabilities afterwards. However, this process is resource-intensive and typically only feasible for well-established teams. Integrating Minima’s node in the data acquisition devices of Influx will guarantee the integrity and transparency needed to verify competition compliance. It will revolutionise the industry and ensure the competitions are based solely on the drivers’ skills, not the engineers’ nimbleness.

“The unique aspect of using blockchain is ensuring that data can be collected and transmitted to the cloud without any risk of tampering or modification. Achieving this in a secure, anonymous, and immutable way has always been a challenge. We are partnering with Minima to ensure that every device is submitting the data we collect on the blockchain, and it’s permanently stored there,” said Lance Keen, CEO of Influx.

About Minima

Minima, the real-world blockchain, is a layer1 focused on everyday solutions through device-led infrastructure.

A unique Layer 1 blockchain, distinguished by its lightweight architecture that enables a full (constructing and validating) node to run on any mobile or IoT device, making it exceptionally adaptable for scaling Decentralised Physical Infrastructure Networks (DePIN). Minima’s technology is now supported by an expansive and engaged community of over 50,000+ node operators. Minima’s extensive network, one of the largest in the DePIN space, showcases its commitment to empowering users and developers to innovate and secure digital solutions in a decentralised world.

The blockchain is compact, quantum-resistant, and secured by every single user on the network. Learn more at minima.global.

Website | Twitter | LinkedIn | Discord 

About RACE LAB

RACE LAB is a McLaren customer racing team, created by Lucky Khera and Lee Frost in 2021. The founders wanted to partner with a leading brand in the industry, therefore naturally leaned towards one of the UK’s biggest and most precious brands in the automotive and motorsport industry – McLaren.

McLaren’s core team provides unparalleled assistance to the racing teams. Their commitment to ensuring that each team receives top-notch support is evident in their expert guidance and personalised service.

We have had massive success over the last two years—we have won races at the GT Cup, British GT, and McLaren Trophy, just to name a few. We will be forever grateful to our drivers Callum Davies and Sai Sanjay, as well as sponsors NAVOS and Fundment, for all the support, dedication, and perseverance!

About Influx Technology

Influx Technology is a leading innovator in the field of advanced automotive and industrial solutions. Specialising in cutting-edge diagnostic and data acquisition tools, Influx delivers high-performance products designed to meet the rigorous demands of modern engineering.

 With a strong commitment to quality and customer satisfaction, Influx empowers clients to achieve precision and efficiency in their operations, driving progress and success across various industries.

CONTACT

Ivan Zhelev
ivan.zhelev@athenalabs.com
+44 7717 825 660

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Photo: https://mma.prnewswire.com/media/2436957/Feiler_Plucknett_Minima.jpg

 

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Technology

Keuka College Notifies Individuals of Data Security Incident

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51 mins ago

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September 20, 2024

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KEUKA PARK, N.Y., Sept. 20, 2024 /PRNewswire/ — Keuka College has learned of a data security incident that may have involved personal information.

On April 25, 2024, the College identified suspicious activity within its network environment and immediately took steps to secure the environment, restore its systems, and began an investigation to determine the nature and scope of the issue. Keuka College also engaged independent cybersecurity specialists to assist with the process. The comprehensive investigation, which concluded on August 21, 2024, could not determine definitively whether personal information related to current and former students and employees was affected.

Keuka College maintains a variety of records which can include: name, Social Security number, Driver’s license number, student id number, financial account information, and date of birth. Current students and employees were contacted by the College in May and provided with one year of free credit and identity monitoring services.

Keuka College has established a toll-free call center to answer questions about the incident and address related concerns. Call center representatives are available Monday through Friday from 9:00 am to 9:00 pm Eastern Time and can be reached at 1-833-913-7557. Please be prepared to provide the engagement number, B131983, for reference.

View original content:https://www.prnewswire.com/news-releases/keuka-college-notifies-individuals-of-data-security-incident-302254623.html

SOURCE Keuka College

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TeraBox Celebrates 2nd Anniversary of Its Massively Popular Referral Program

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52 mins ago

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September 20, 2024

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Continuously expanding webmaster signups, especially in multiple regions, along with new highs in webmaster payouts, has ensured the smooth operation and continuous development of the project.

TOKYO, Sept. 21, 2024 /PRNewswire/ — TeraBox (“TeraBox” or “the Company”), a globally trusted cloud storage service headquartered in Tokyo, recently celebrated the second anniversary of its hugely popular Referral Program, a testament to the smooth operation and continuous development of the project. The number of webmaster signups, including in multiple new regions, continued to increase steadily with webmaster payouts reaching new highs.

TeraBox reveals some of its impressive Referral Program data.

TeraBox’s total number of webmasters worldwide reached over one million.The highest daily income of webmasters reached over $10,000, with the top earner making nearly $180,000.The total number of shares by all webmasters exceeds 500 million.

The network of webmasters spans across the globe, including countries such as India, Indonesia, the United States, Latin America, Middle East, and South Korea. Moreover, as TeraBox’s influence continues to grow, the platform is excited to welcome many new webmasters from an expanding range of countries and regions.

TeraBox has achieved significant milestones, demonstrating its sustainable growth and increasing user impact. The journey started with the Webmaster Center launch in August 2022. Following this, several optimizations were implemented, including a self-withdrawal feature that simplified earnings management for webmasters and increased their engagement. Additionally, the Growth Analysis tool provided webmasters with valuable insights into their operational performance, enabling more effective decision-making.

As a result of these enhancements, both the number of participating webmasters and their earnings have seen remarkable increases. Looking ahead, the upcoming launch of the Webmaster App in September 2024 is set to further elevate user engagement and convenience, solidifying TeraBox’s position as an industry leader.

About TeraBox

TeraBox, developed by Flextech Inc. in Japan, is a leading global cloud storage solution. Headquartered in Tokyo, TeraBox proudly serves over 320 million users globally, providing an easy yet powerful way to store and manage data. With its generous 1TB of free storage, TeraBox ensures that your files are safe, secure, and accessible from anywhere. As a secure, reliable, and convenient service, TeraBox is certified with ISO 27001, ISO 27701, and ISO 27018, offering individual users around the world the opportunity to register for 1TB (1024GB) of free storage.

Photo – https://mma.prnewswire.com/media/2510913/image_5016964_39376930.jpg

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Industrial Rack and Pinion Market to Grow by USD 998.6 Million (2024-2028), AI Redefining Market Landscape Amid Rising Demand for Machine Tools – Technavio

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2 hours ago

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September 20, 2024

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NEW YORK, Sept. 20, 2024 /PRNewswire/ — Report with market evolution powered by AI- The global industrial rack and pinion market size is estimated to grow by USD 998.6 million from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 9.45%  during the forecast period. Growth of industrial manufacturing leading to increase in demand for machine tools is driving market growth, with a trend towards increasing demand for stairlifts in offices. However, availability of substitutes for rack and pinion systems  poses a challenge. Key market players include Apex Dynamics Inc., ATLANTA Antriebssysteme GmbH, B and B Manufacturing Inc., Commercial Gear and Sprocket Co. Inc., GAM Enterprises Inc., Gudel Group AG, HMK Automation Group Ltd., Kohara Gear Industry Co. Ltd., Lomar Machine and Tool Co., MIJNO PRECISION GEARING SAS, Nexen Group Inc., Nidec Corp., P R Components Pvt. Ltd., Pearl Engineers, REDEX Group, Reliance Precision Ltd., Sati SpA, Shri Butbhavani Engineering, Statewide Bearings, and Yuan Yi Chang Machinery Co. Ltd..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Industrial Rack And Pinion Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 9.45%

Market growth 2024-2028

USD 998.6 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

8.41

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 41%

Key countries

China, US, Germany, India, and Canada

Key companies profiled

Apex Dynamics Inc., ATLANTA Antriebssysteme GmbH, B and B Manufacturing Inc., Commercial Gear and Sprocket Co. Inc., GAM Enterprises Inc., Gudel Group AG, HMK Automation Group Ltd., Kohara Gear Industry Co. Ltd., Lomar Machine and Tool Co., MIJNO PRECISION GEARING SAS, Nexen Group Inc., Nidec Corp., P R Components Pvt. Ltd., Pearl Engineers, REDEX Group, Reliance Precision Ltd., Sati SpA, Shri Butbhavani Engineering, Statewide Bearings, and Yuan Yi Chang Machinery Co. Ltd.

Market Driver

The industrial rack and pinion market is experiencing growth due to the increasing demand for stairlifts in commercial and industrial applications. Stairlifts are essential for employees who face difficulties climbing stairs in multi-level industrial facilities. Arthritis, joint stiffness, and injuries are common reasons for this challenge. While elevators are an option, not all industrial buildings have them, especially those with only a few floors above the ground level. Stairlifts offer a cost-effective solution for such facilities, enabling employees to access upper floors with ease. These devices utilize long pieces of straight and curved racks and large pinions, leading to an increased demand for rack and pinion systems in the industrial sector. As a result, the global industrial rack and pinion market is poised for growth during the forecast period. 

The Industrial Rack and Pinion Market is witnessing significant growth due to its extensive applications in various industries. Key sectors driving this market include machine tools, actuators, process industries, material handling, offices, and stairlifts. Rack and pinion systems offer precise rotary and linear motion, making them ideal for machine tools and actuators. In process industries, they are used in drive trains and condition monitoring systems for IoT applications. ZHY Gear, a leading industrial gear manufacturer, specializes in rack and pinion gears for diverse industries. Their zero backlash gearboxes are popular in wind turbine gearboxes, motor technology, and construction equipment. Furthermore, rack and pinion systems are used in power plants, oilfields, and offices for material handling and stairlifts. The integration of IoT technology in these systems enhances efficiency and productivity. 

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Market Challenges

The industrial rack and pinion market involves the production and sale of linear actuation mechanisms that convert rotary motion into linear motion. Rack and pinion systems are a common choice due to their ability to provide fast movement over long lengths without excessive vibration. However, alternatives such as ball screws and lead screws also exist, each with their unique advantages and disadvantages. Ball screw systems offer smooth and almost friction-free movement but can vibrate at high speeds and longer lengths. In contrast, rack and pinion systems have high friction and a risk of backlash if the pinion does not properly engage with the rack. Ultimately, the choice between these mechanisms depends on the specific requirements of end-users, with some preferring smooth and friction-free systems, while others prioritize high-speed operation. The presence of multiple substitutes and the varying needs of end-users may hinder the growth of the global industrial rack and pinion market during the forecast period.The Industrial Rack and Pinion Market caters to various industries such as power plants, oilfields, machine tools, process industries, material handling, offices, and more. Two primary types of motion – rotary and linear – are served by this market. Key applications include actuators, stairlifts, and industrial gear in wind turbine gearboxes. Challenges in this sector include ensuring zero backlash for precise motion control, integrating IoT and condition monitoring technologies, and catering to diverse industries like motor technology, drive trains, and construction equipment. Notable players in the market include ZHY Gear, addressing the needs of power plants, oilfields, and other sectors with their high-quality rack and pinion solutions.

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Segment Overview

This industrial rack and pinion market report extensively covers market segmentation by

Product 1.1 Machine tools1.2 Linear actuation and guideways1.3 Material handlingType 2.1 Alloy steel2.2 Carbon steel2.3 Stainless steel2.4 Aluminum alloy2.5 PlasticGeography 3.1 APAC3.2 Europe3.3 North America3.4 Middle East and Africa3.5 South America

1.1 Machine tools-  The Industrial Rack and Pinion Market refers to the business sector that produces and sells rack and pinion systems for industrial applications. These systems consist of a rack, which is a flat bar with teeth, and a pinion, which is a gear that meshes with the rack. Rack and pinion systems are used in various industries, including material handling, automotive, and construction, to convert rotary motion into linear motion. The market for these systems is driven by factors such as increasing automation in industries and growing demand for efficient material handling solutions. Companies in this market offer customized solutions to meet specific industry requirements.

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Research Analysis

The Industrial Rack and Pinion Market encompasses various industries including machine tools, actuators, process industries, material handling, stairlifts, offices, and more. Rack and pinion systems are essential components in these industries, providing rotary and linear motion solutions. They are used in machine tools for precise positioning and in actuators for industrial automation. In process industries, they are employed for valve actuation and pump drives. For material handling, they offer zero backlash and high torque for efficient conveyor systems. In the construction industry, rack and pinion systems are used in cranes and hoists. In the realm of renewable energy, they are integral to wind turbine gearboxes. Motor technology and drive trains also utilize rack and pinion systems for efficient power transmission. IoT and condition monitoring systems enhance the performance and reliability of rack and pinion applications. Industrial gear manufacturers like ZHY Gear produce high-quality rack and pinion systems for diverse industries.

Market Research Overview

The Industrial Rack and Pinion Market encompasses various industries and applications, including machine tools, actuators, process industries, material handling, stairlifts, offices, and more. Rack and pinion systems provide rotary and linear motion solutions, essential in industries that require precise and efficient power transmission. These systems are integral to machine tools for accurate positioning and movement. In material handling, they power conveyor belts and other automated systems. Actuators, such as those used in process industries, rely on rack and pinion for precise control and zero backlash. The market also caters to IoT and condition monitoring systems, enhancing industrial gear efficiency and performance. ZHY Gear, a leading manufacturer, offers rack and pinion solutions for diverse applications, from wind turbine gearboxes to motor technology and drive trains. Construction equipment, power plants, oilfields, and various other industries benefit from the reliability of rack and pinion systems.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductMachine ToolsLinear Actuation And GuidewaysMaterial HandlingTypeAlloy SteelCarbon SteelStainless SteelAluminum AlloyPlasticGeographyAPACEuropeNorth AmericaMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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