Technology

Algorand celebrates 5th anniversary with 2 billion transactions and record adoption of real-world use cases at annual Decipher conference

Published

6 months ago

June 28, 2024

The Foundation kicks off the Summer of Algorand with investments in technology, partnerships and marketing to fuel innovation at scale

BARCELONA, Spain, June 28, 2024 /PRNewswire/ — The Algorand Foundation, a nonprofit on a mission to power a world where information has integrity and innovative ideas can scale, hosted its annual Decipher event, a gathering of hundreds of investors, developers, and partners from around the world to celebrate the vibrant ecosystem. From global finance and supply chain to real estate and humanitarian aid, Algorand blockchain technology is powering the next-generation of real-world applications. Showcasing the refreshed brand, the new website at Algorand.co is the central hub for our protocol and ecosystem.

“The energy at Decipher was contagious! We’re amazed by the creativity and technical prowess of our community and all of the innovative products they’ve built on Algorand,” said Staci Warden, CEO of the Algorand Foundation. “They’re bringing the blockchain to life, and we encourage them to channel that enthusiasm into building and scaling their dreams. And we promise to keep investing in the resources they need to succeed.”

Algorand is an energy-efficient, quantum-secure, single-layer blockchain with instant finality, consistently high throughput, and low fees. All of these characteristics mean it is purpose-built for real-world scale; and developers, entrepreneurs, and enterprise partners all benefit from its institutional-grade certainty and resilience.

Ecosystem momentum

The Algorand blockchain hit two billion successful transactions since inception in June 2019. In Q1 2024 alone, it ranked among the top 3 most popular blockchains by transaction volume.

Other notable statistics:

On January 1, 2024 Algorand reached an ATH of 43 million transactions in a single day, and the network performed flawlessly. [1]On May 17, 2024 it achieved a record of 5,716 transactions per second (TPS) , ranking among the top 3 blockchains by max recorded TPS. [2]In Q1, the Algorand blockchain processed 403 million transactions, a 288% increase from Q4 2023.In the first quarter, Algorand gained 1 million new accounts, bringing the total to 35 million, with an average of 800k monthly active users. [1]Algorand concluded the first quarter of 2024 with a DeFi TVL of 1 billion ALGOs and has been maintaining this level throughout subsequent months. [3]

To improve access to real-time data and insights about the Algorand blockchain, the Foundation is partnering with data analytics provider Nansen, and expects the first dashboards to go live this summer.

Data Source References

[1] https://metrics.allo.info/
[2] https://chainspect.app/dashboard
[3] https://defillama.com/chain/Algorand?currency=ALGO

Following key initiatives were announced at the event:

Global fintech and web3 companies including Algorand Foundation , UNDP , Worldpay , Circle , HesabPay , Mercy Corps Ventures and others, unite to increase blockchain-based cash assistance for humanitarian crises.Archax makes abrdn money market fund accessible and transferable on Algorand blockchain using Quantoz EURD electronic money token.123carbon secured a 135.000t CO2e contract, one of the largest issuance of Transport related insets in the world, all registered on the Algorand blockchain.LabTrace completed the first study using its blockchain-based data authentication system, designed to ensure data integrity in clinical trials.Finboot switched to Algorand to power its supply chain traceability solution due to Algorand’s scalability and energy efficiency.Kare Survivor Wallet will deliver rapid financial assistance to disaster survivors across the United States as part of the American Response and Resiliency Program, launched with the National VOAD and DSC, SVDP-USA.Circle’s USDCa stablecoin on Algorand is now available through Coinbase.

Ecosystem companies are thriving, from AI and identity to DeFi and NFTs:

Pera and Immersve announced a partnership to bring non-custodial debit card options to Algorand users.Folks Finance announced the upcoming launch xChain, an application that will operate cross-chain and xALGO Liquid staking products, which allow users to participate in Algorand consensus and accrue rewards seamlessly and securely.Algorand is also now home to Dised, a blockchain-based AI marketplace that makes exchanging AI services, products and data more transparent. CompX announced a further push into RWA by integrating with Lofty to bring the benefits of auto-compounding and yield optimization to more users on-chain.Tinyman, the top DEX on Algorand by TVL, volume, and active users, announced that its TINY token and governance platform will launch in July.Messina launched Token Wars and cross-chain community building, growing the exposure and presence of Algorand DeFi. This initiative is backed by Pact, Meld Gold, and CompX.Vestige Labs is launching rug.ninja, a decentralized token creator and virtual DEX for fair meme coin creation and trading.Meld Gold announced a trust-minimized audit system, a world-first that verifiably connects physical items to the blockchain, the final frontier in bringing physical RWAs trustlessly on-chain.Gora and Goanna have partnered to create a pioneering nftFi project on Algorand, a collection with innovative utility for Gora and Algorand users. Website and project are live, with the launch event coming in July.EXA Market is launching a Rewards Program on Coinlist in August, leading up to their Token launch in Q4.Cosmic Champs will launch on Mainnet and Google Play in August. Building for more than 2 years, their goal is to onboard thousands of Web2 users to Algorand.Recently listed on Steam, Fracctal will also be listed on Epic Game Store to onboard thousands of new users to Algorand Gaming.Aegir Tactics is going into closed beta on July 23 with a website update, a gameplay video, and Founders Vaults (NFT card packs). Currently on the Epic Game Store, Aegir Tactics can be wishlisted.Dead Chain Diaries joins Algorand’s NFT collection, as the first-ever inscription sets, featuring creators from across the #Algofam. Rxelms is a new NFT-based, cross-chain virtual world launched this year on Algorand, using the best-in-class Unity gaming engine. NUVO launched on Algorand and specializes in Decentralized Verifiable Credentials to better protect data privacy.

Public goods

The Foundation’s public goods initiative focuses on DeFi and tools that help builders of any size build their dreams in the most efficient way possible.

DeFi

Algorand’s instant finality, high TPS capacity and speed are critical for the high-frequency trading that DeFi requires. With fast-growing TVL and strong backing from the Foundation, Algorand leads the way as a robust and scalable DeFi platform.

The Foundation uses Algorand’s DeFi ecosystem to manage its own treasury. It has deployed 42 million ALGOs across various protocols to support things like AlgoRai, decentralized option vaults, and Tinyman and Pact’s liquid governance DEX trading. Following positive results and feedback, the Foundation will double down and boost liquidity to grow the DeFi ecosystem.

New Developer Tools:

LiquidAuth, an open-source package to demonstrate how to establish P2P Authenticated communication between wallets and applications using only open standards and non-permissive protocols. did:algo, W3C compliant DID Method leveraging Algorand’s box storage, a more robust digital identity offering for applications in Algorand.Lora visual debugger, a local developer explorer powered by the new subscriber library for tracking on-chain events and analyzing on-chain resources. It completes the trio of components in AlgoKit needed for easier development: an sdk/for building, a python testing framework, and a visual interface to debug and understand what happens both in your smart contracts and on-chain.

About Algorand Foundation
Algorand’s mission is to power a world where information has integrity and innovative ideas can scale. The Algorand Foundation supports Algorand’s rapidly growing ecosystem by providing a best-in-class developer environment, supporting key infrastructure and setting technical standards, offering comprehensive support to builders and entrepreneurs, and providing the infrastructure for decentralized governance.

Founded by Turing Award-winning cryptographer Silvio Micali in 2019, Algorand has grown into a vibrant ecosystem of developers, entrepreneurs, and enterprise partners that benefit from institutional-grade certainty and resilience, while features like low fees, instant finality, and a minimal carbon footprint also appeal to the protocol’s millions of retail users. Builders of all kinds can use common programming languages like Python to develop advanced apps and protocols that solve important problems at a global scale: instant payments in war and disaster zones, self-sovereign identity for the disenfranchised, supply-chain traceability for global commerce, permissionless protocols addressing financial inclusion, and the creation of entirely new markets through tokenization, to name a few. To learn more and start your journey on Algorand, visit algorand.co

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SOURCE Algorand Foundation

Technology

Macrogen Consortium win tender for National Bio Big Data Project

Published

45 minutes ago

December 23, 2024

Illumina is proud to be selected as sequencing technology partner to the Macrogen Consortium.

SEOUL, South Korea, Dec. 23, 2024 /PRNewswire/ — Macrogen a global healthcare company that specializes in precision medicine and Illumina Inc. (NASDAQ: ILMN), a global leader in DNA sequencing and array-based technologies, announced today that they are honoured to support the National Bio Big Data project by sequencing and analysing 145,952 Korean genomes.

The National Bio Big Data Project project has been running in Korea as a pilot project since 2020. During this period about 20,000 genomes were analysed, 10,000 of these including people with a rare disease. The ultimate goal is to enable precision medicine by building a reference genome for about 770,000 Koreans by 2028 and a total of 1 million by 2032.

“Being a part of this step change to improving public health in Korea through the voluntary collection and analysis of genomic, clinical and life record information from the general public, is paramount to ensure precision medicine becomes a standard of care for all Koreans,” said Changhoon Kim, CEO Macrogen.

“Illumina is pleased to be a part of the Korean bio industry ecosystem and to participate in such an important national project. We look forward to contributing to Korea by bringing our expertise and lessons learned from our direct involvement in leading pop gen projects around the world,” said Robert McBride, General Manager of Illumina Korea.

People across the globe have very similar genes but a small number of variants between populations can impact health. For example, some variants are associated closely with particular diseases such as cystic fibrous.[1]These variants can present differently in populations and have a significant impact on how individuals respond to medicines and treatments. Therefore, it is beneficial for Koreans to have information available that is unique to them.

Worldwide, the number of pop gen projects is expanding rapidly, including the UK, Japan, Singapore, Qatar, the United Arab Emirates, and Nigeria.

“Population genome projects are growing worldwide with many programs reaching significant milestones. But despite this inequity remains with the majority of genome datasets being of European descent. This means we have a lot of information how to develop drugs for European populations but this doesn’t translate in any meaningful way to other nationalities,“ said Robert McBride.

Population genomics provides a platform for industry engagement and investment, specifically in the pharmaceutical, biotechnology, and data sectors. By integrating large, diverse data sets and using advanced computing technology (such as artificial intelligence or machine learning), health systems and partners are optimally positioned to unlock the power of the genome even further, while improving quality of life and care and fostering economic growth.

“Precision medicine is changing how diseases are treated and this benefits everyone. For patients, treatments often work better when decisions are based around an individual’s genome, for drug companies it can reduce cost of development and for governments there are long term savings related to less waste and healthier patients,” said Changhoon Kim.

References

[1] https://www.genome.gov/about-genomics/educational-resources/fact-sheets/human-genomic-variation#:~:text=How%20do%20peoples’%20genomes%20vary,person%20responds%20to%20certain%20medications.

About Macrogen

Macrogen is a global genetic service provider, partnered with over 18,000 scientists in 150+ countries, and with more than 20 years of experience in the industry.

Established in 1997, from the Genome Medical Research Institute of Seoul National University, Macrogen has become a major service provider and consulting agent for government agencies, universities and research institutes around the world.

About Illumina

Illumina is improving human health by unlocking the power of the genome. Our focus on innovation has established us as a global leader in DNA sequencing and array-based technologies, serving customers in the research, clinical, and applied markets. Our products are used for applications in the life sciences, oncology, reproductive health, agriculture, and other emerging segments. To learn more, visit www.illumina.com and connect with us on X (Twitter), Facebook, LinkedIn, Instagram, TikTok, and YouTube.

About the Consortium

Macrogen Consortium members include the following companies: DNA Link, Theragen Bio, and CG Invites

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SOURCE Illumina

Technology

As 2025 IRS Mileage Rate Hits 70 Cents, Expert Warns: Ditch Risky Apps for Secure Paper Tracking

Published

6 hours ago

December 22, 2024

Gig economy expert Ed Ryder warns against the risks of mileage tracking apps, and advocates using paper-based tracking methods instead. He introduces The Big Mileage Form, a secure alternative developed over two years to meet the specific needs of food delivery gig workers. Ryder highlights recent tech failures, like the July 2024 global IT outage, to underscore the vulnerabilities of digital solutions. The press release also mentions Ryder’s significant mileage deduction using his form and directs readers to GigCoach.net for additional resources, including a consumer tutorial to drive better food delivery outcomes and a gig coach training program.

PHILADELPHIA, Dec. 22, 2024 /PRNewswire-PRWeb/ — As the IRS announces a standard mileage rate of 70 cents per mile for 2025, gig economy expert Ed Ryder, who has completed over 10,000 deliveries with his own car using major food delivery platforms, urges fellow gig workers to reconsider their mileage tracking methods. While acknowledging the convenience of digital solutions, Ryder advocates for a return to secure, paper-based tracking to protect valuable mileage deductions.

With the mileage rate at 70 cents, accurate tracking is crucial for gig workers and small business owners. Mileage apps seem convenient, but they risk data loss from outages, glitches, and cyber attacks. Many overlook these significant dangers.

“With the mileage rate increasing to 70 cents, accurate tracking is more crucial than ever for gig workers and small business owners,” says Ryder, creator of The Big Mileage Form. “While mileage tracking apps seem convenient, they come with significant risks that many overlook. Network outages, app glitches, and cyber attacks can jeopardize months of data.”

Ryder points to the July 2024 global IT outage as a prime example of technology’s vulnerabilities. “A faulty software update caused mass airline disruptions and impacted other industries, catching major corporations off guard. This incident highlights that even in our digital age, software isn’t infallible. For me, I simply won’t trust mileage tracking apps with my most important tax deduction.”

To address these concerns, Ryder developed a comprehensive, paper-based solution. “I spent two years perfecting The Big Mileage Form, tailoring it to the specific needs of food delivery gig workers,” he explains. “At 11×17 inches, it provides ample space for detailed record-keeping and, crucially, it’s immune to software glitches, data breaches, and ransomware attacks.”

Ryder’s meticulous paper-based record-keeping resulted in a mileage deduction exceeding $19,000 on his 2023 federal taxes. “All my business-related miles are thoroughly documented on paper. I’m fully prepared to defend this deduction in case of an audit. This level of confidence is what I aim to provide other gig workers.”

“In today’s digital age, sometimes the most secure solution is the simplest one,” Ryder concludes. “My form not only ensures data security but also prepares users for potential IRS audits. It’s time to reconsider the old-fashioned, but reliable pen-and-paper method.”

For those interested in learning more about effective mileage tracking and other aspects of gig work, Ryder offers valuable resources on GigCoach.net. These include a tutorial for consumers titled ‘Fair Deal Delivery,’ which provides insights on how to improve food delivery outcomes. Additionally, experienced food delivery couriers can explore Ryder’s gig coach training program. Visit GigCoach.net to access these resources and learn more about The Big Mileage Form.

Media Contact

Ed Ryder, Match Experiment LLC, 1 484-493-8740, hello@ideamaned.com, gigcoach.net

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SOURCE Gig economy expert Ed Ryder

Technology

DATA BREACH ALERT: Edelson Lechtzin LLP Is Investigating Claims On Behalf Of Ascension Health Customers Whose Data May Have Been Compromised

Published

6 hours ago

December 22, 2024

NEWTOWN, Pa., Dec. 22, 2024 /PRNewswire/ — The law firm of Edelson Lechtzin LLP is investigating claims regarding data privacy violations by Ascension Health (“Ascension”). Ascension learned of suspicious activity on or about May 8, 2024. To join this case, go HERE.

About Ascension Health

Ascension is a prominent non-profit health system in the nation and operates under Catholic principles.

What happened?

On or about May 8, 2024, Ascension detected unauthorized activity in its computer systems. Ascension initiated an investigation, which included retaining consulting cybersecurity experts and notifying the FBI. The investigation determined that between May 7 and 8, 2024, a cybercriminal accessed files containing personal information about Ascension’s patients and employees. This information included names, medical records, payment details, insurance information, government identification numbers, and other personal data such as dates of birth and addresses. Approximately 6 million individuals have been affected by this data breach.

How can I protect my personal data?

If you receive a data breach notification, you must guard against possible misuse of your personal information, including identity theft and fraud, by regularly reviewing your account statements and monitoring your credit reports for suspicious or unauthorized activity. Additionally, you should consider legal options for mitigating such risks.

Edelson Lechtzin LLP is investigating a class action lawsuit to seek legal remedies for customers whose sensitive personal and patient data may have been compromised by the Ascension data breach.

For more information, please contact:

Marc H. Edelson, Esq.
EDELSON LECHTZIN LLP
411 S. State Street, Suite N-300
Newtown, PA 18940
Phone: 844-696-7492
Email: medelson@edelson-law.com
Web: www.edelson-law.com

About Edelson Lechtzin LLP
Edelson Lechtzin LLP is a national class action law firm with offices in Pennsylvania and California. In addition to cases involving data breaches, our lawyers focus on class and collective litigation in cases alleging securities and investment fraud, violations of the federal antitrust laws, employee benefit plans under ERISA, wage theft and unpaid overtime, consumer fraud, and catastrophic injuries.

This press release may be considered Attorney Advertising in some jurisdictions. No class has been certified in this case, so counsel does not represent you unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing now. Your ability to share in any potential future recovery does not depend on serving as lead plaintiff.

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SOURCE Edelson Lechtzin LLP