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Explore How Nova Labs’ IoT Push Is Unlocking the Potential of Helium for Consumers

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Crypto wireless network Helium was once the poster child for tangible crypto utility, but growing skepticism of the model and major brands distancing themselves from the project has cast doubt on its effectiveness. Nova Labs, which created and now supports the decentralized Helium network, has a plan to bring more high-profile brands and large companies into the fray with “1663”, an integration arm to help large-scale enterprises develop and deploy projects and products built around Helium’s internet of things (IoT) network. Amir Haleem, Nova Labs CEO and Helium co-founder, described 1663 as a necessary next step for the backers of an open-source network that has grown in scale over the last two years, but still presents challenges for adoption. 1663 is designed to handle complete project solutions for companies that can use Helium’s low-power, wide area network. Nova’s team will source the needed hardware, build software and integrations, and deliver ongoing support after launch. Meanwhile, miners have seen shrinking crypto token rewards as Helium scaled, and the network has taken flak for what appears to be low usage. Helium and its founders have faced increasing scrutiny as the network gained prominence, and the company has promised a “much more rigorous” process for vetting claimed partners for marketing materials. Helium is also in the process of migrating from its own blockchain to Solana following last fall’s community vote, and Helium Mobile will integrate with the Solana Saga smartphone. Nova is attempting to overcome growing criticism and showcase the potential of Helium’s expanding “network of networks”. “Our mission has always been to make it easy for people to take advantage of decentralized networks,” Haleem said. “The work that Nova does is breaking down some of those barriers so that you’re taking advantage of a decentralized network without even really knowing or caring about it.” Nova Labs has launched 1663, a new integration arm to help large-scale enterprises develop and deploy projects and products built around Helium’s internet of things (IoT) network. This comes as the network has faced increasing scrutiny and skepticism, and miners have seen shrinking crypto token rewards. Nova’s team will source the needed hardware, build software and integrations, and deliver ongoing support after launch. Simultaneously, Helium is also in the process of migrating from its own blockchain to Solana following last fall’s community vote, as it attempts to showcase the potential of Helium’s expanding “network of networks”. #Helium #1663 #IoT #DecentralizedNetwork #CryptoTokens

You can read more about this topic here: Decrypt: Is Anyone Using Helium? Nova Labs’ New IoT Push May Provide Answers

The post Explore How Nova Labs’ IoT Push Is Unlocking the Potential of Helium for Consumers first appeared on Byte Syze Crypto.

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Justin Sun Predicts Huobi Crypto Exchange to Secure Hong Kong License in Under a Year

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Tron founder and advisor to the exchange, Justin Sun, has stated that Huobi could get a Hong Kong crypto license in six to twelve months. Specifically, Sun told Coindesk that the exchange applied to become a virtual asset service provider (VASP) last week. Additionally, Sun discussed the process of the VASP application and his belief that the crypto exchange could have an answer by the end of the year. Huobi had recently relocated to Hong Kong, aiming to launch Huobi Hong Kong by the summer. Sun was asked about embracing potential competition in the Canadian market and noted the strict regulatory standards in the country, referring to the Caribbean, Hong Kong, and Japan. There has been no verification of other cryptocurrency exchanges that have applied for a similar license, however, Coindesk reported Sun’s expectation that five to six other exchanges could make the move.

This news is good for Huobi as they are in the process of obtaining a crypto license in Hong Kong, which would allow them to operate in the region and serve customers. Other exchanges may also apply for the license, and the grace period given to the exchange could provide them with the opportunity to get approval in the next six to twelve months.

#Huobi #HongKong #CryptoLicense #VASP #JustinSun

You can read more about this topic here: Watcher Guru: Justin Sun Says Huobi Could Get Hong Kong Crypto License in 6-12 Months

The post Justin Sun Predicts Huobi Crypto Exchange to Secure Hong Kong License in Under a Year first appeared on Byte Syze Crypto.

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Crypto Rug Pulls: How $45 Million In Defi Attacks Were Lost In May

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#CryptoSafety #RugPulls #DefiExploits #ProtectInvestors

You can read more about this topic here: Watcher Guru: Crypto Rug Pulls Outvalued Defi Attacks in May, $45 Million Lost

The post Crypto Rug Pulls: How $45 Million In Defi Attacks Were Lost In May first appeared on Byte Syze Crypto.

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CFTC Set to Revamp Risk Regulations: How it Impacts the Crypto Industry

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The Commodity Futures Trading Commission (CFTC) has proposed a re-modelled rule-set for risk management as part of its effort to respond to the U.S. banking crisis. Commissioner Christy Goldsmith Romero highlighted the need for such regulations due to the risks posed by the emergence of technologies like crypto, AI, and cloud services. The CFTC’s advance notice of proposed rulemaking will be open for public comments for 60 days. The final version will then be voted upon. #CFTC #RiskManagement #Crypto #Regulations

You can read more about this topic here: Watcher Guru: Crypto: U.S. CFTC Looking to Change Risk Rules

The post CFTC Set to Revamp Risk Regulations: How it Impacts the Crypto Industry first appeared on Byte Syze Crypto.

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