9M raised by Solana-based protocol to decentralize ridesharing According to the Decentralized Engineering Corporation, (DEC), the company behind TRIP, a Solana-based protocol that allows mobility-based applications, the ride-sharing industry is set for a paradigm shift. Web3 protocols will allow new companies and drivers to compete for rides using a matching algorithm. DEC states that riders and companies can join forces on the TRIP platform to compete in a common marketplace. It also gives customers and drivers a stake in the governance of the protocol, which rewards active participants. Teleport is the first service to go live on TRIP. It’s a decentralized ride-sharing app that will be launched by parent company DEC in December. Paul Bohm, CEO of DEC and Teleport cofounder, said that Web3 technology will compete with “closed platforms run corporate monopolies” to be replaced by decentralized protocols that can be open source, competitive and fair for all. Bohm said that additional funding would be used to “launch TRIP permanent in certain cities.” It will also assist the company with its decentralization milestone. TRIP riders can use a blockchain-based payment system to pay USD Coin ( USDC). Solana, fiat currencies, and USD Coin on Solana. Drivers will be able accept the stablecoin directly to their bank accounts, or have it deposited into a wallet. “By making ride-sharing a protocol, Teleport builds what Uber couldn’t build in 2010 and what Uber should be building now,” Ryan McKillen, an ex-Uber employee who was one of the investors that joined the seed round, said. Thursday Ventures was joined by 6th Man Ventures (6th Man Ventures), 305 Ventures, and Common Metal as additional investors. Similar: HTML3 is the solution for Uber’s problem regarding hackers According to Precedence Research, the market for ride-sharing will grow to $344.4 million by 2030. Statista data shows Uber is the most used ride-sharing app worldwide, with 93,000,000 people using it on a monthly basis.

The ride-sharing industry is poised for another paradigm shift, with Web3 protocols allowing new companies and...

ConsenSys pledges $2.4M annually for MetaMask Grants DAO 8225670622173 ConsenSys, a blockchain technology company, will spend $2.4 Million annually to fund its MetaMask Grants DAO that aims at further developing the Web3 ecosystem. MetaMask employees will lead the fund and manage the decentralized autonomy organization (DAO).. The DAO will issue grants to developers who are not part of ConsenSys and are creating products or services in MetaMask’s environment and wider Web3 space. To assess the viability and success of the project, the DAO will first run for 12 months. The DAO will process votes and proposals through SnapShot on Codefi Activate. ConsenSys will contribute $600,000. per quarter to help drive decentralization, adoption and adoption of Web3 mechanisms. In a statement that was shared with Cointelegraph, Taylor Monahan, MetaMask’s global Product Lead, highlighted the importance of decentralized development as a driver for growth.
“This will not only accelerate growth for cryptocomfortable users but it will also increase adoption for cryptocurious individuals with more ways to participate in.”
The DAO itself is composed of three components. The first component is the employee-led DAO, which is made up of more than 900 ConsenSys employees. These employees can opt in to become Grants DAO members. All of them have equal voting rights. Similar: The blue Fox: DeFi’s rise, and the birth Metamask Institutional The second section is a mini-DAO leadership committee made up seven people. This committee will be responsible to identify high-potential projects and create governance proposals. They will also collect feedback and drive improvements for the DAO. ConsenSys will oversee the final part, which is a multisignature secure wallet that will handle the token contract as well as the treasury. It can also sign transactions to fund disbursement and mint and burn tokens when employees join or leave the company. The MetaMask Grants DAO leadership committee includes MetaMask’s co-founders, Snaps Studios’ global product lead, senior DAO strategist, and ConsenSys director of strategic initiatives as well as ConsenSys product management director. Two types of grants will be available for funding the DAO. The Leadership Committee Grant will only be voted upon by its seven members. DAO Grants will then be available for all DAO members to vote on.

Blockchain technology firm ConsenSys will spend $2.4 million annually to fund its newly launched MetaMask Grants...

It seems that every time one turns on the TV, something, somewhere, is going catastrophically wrong....

Binance, a crypto exchange, announced the launch a new data network, Binance Oracle. This allows...

BitPay, a major cryptocurrency company, is expanding its network of supported blockchain networks and is...

Fidelity Investments, a $4.5 trillion asset manager firm, is expected to hire 100 more people...

Decentralized finance has begun to adopt a new term: "real yield." This refers to DeFi...

The Law Commission of England and Wales will set about reviewing private international legal challenges...

After the launch of a new portal for police complaints that uses blockchain technology to...

Crypto is currently languishing like the internet did in 1996 with slow speeds and few practical...