🥬 BNB Chain unveils BNB Greenfield - a blockchain based data storage platform

🥬 BNB Chain unveils BNB Greenfield - a blockchain based data storage platform 💥 The UK reveals new regulations for the crypto industry 👹 Rally.io pulls 'the rug' on users

Good morning, frens.

We are super excited to announce the development of our newest game, Warring Tribes - a blockchain game that you would be able to play on your browser, iOS and Android device!

The game is the newest iteration of our previous game, The Beginning, with a whole new set of features. This one is bigger and better than ever before! With more strategic options and improved graphics, as well as more ways to earn, you won’t want to miss out on this one.

Stay tuned for more updates!

🥬 BNB Chain unveils BNB Greenfield - a blockchain based data storage platform 💥 The UK reveals new regulations for the crypto industry 👹 Rally.io rugs its users

BNB Chain unveils BNB Greenfield - a blockchain based data storage platform

BNB Chain's (previously called Binance Smart Chain) core dev team released a whitepaper for a blockchain-based Web3 data storage platform called BNB Greenfield. This platform enables users to store data on a distributed network and access or monetize it through smart contracts on the BNB Chain.

The devs are saying this will create "new themes for the ownership and utility of data" that can be used to help individuals and businesses. Greenfield will be the third product in the BNB's ecosystem alongside the BNB Chain and BNB Beacon Chain. BNB Chain is focused on smart contract development and BNB Beacon Chain focuses on BNB governance and security.

According to the whitepaper, Greenfield will use Proof-of-Stake consensus based on Tendermint for its own security. Blocks will be created every two seconds by validators, who are incentivized with BNB rewards.

The initial BNB will be locked on BSC and re-minted on the Greenfield blockchain. BNB and data operation primitives can move between the two networks, allowing users to access data on either network while still maintaining total circulation of BNB.

The team is currently actively developing Greenfield, and they plan to launch a testnet soon. We'll see if it's going to revolutionize anything once it goes live but for now it's looking like a promising development.

The UK reveals new regulations for the crypto industry

The UK has revealed its new plan to regulate the crypto industry and its participants more thoroughly, from service providers to investors. The consultation paper released by the Treasury on Wednesday proposed stricter rules for investing and trading in cryptocurrency.

The paper presents a comprehensive framework that covers different aspects of the industry, such as service providers, lending platforms, consumer protection and disclosures. It also aims to tackle market abuse and other potential risks.

Crypto exchanges that operate in the UK will need to become an FCA-authorized firm in order to comply with the new regulations. Exchanges will have to submit details of their operations, risk management processes, financial resources and other relevant information. They will be required to design effective control systems that can detect and disrupt market abuse. Crypto lenders and custodians will also need to be authorized by the FCA.

Market abuse regulation will also be applied to tokens traded on UK exchanges. This entails offenses like insider trading, market manipulation, and the unauthorized disclosure of insider information.

Big crypto players are welcoming this move as they believe this will give the industry a more secure and transparent platform. Not everyone is as happy about this news, with some seeing it as an effort to stifle innovation.

Overall, the new regulations could benefit investors by providing more protection against market abuse and other potential risks but you can never do that without sacrificing some degree of freedom.

Rally.io rugs its users

A whole ETH sidechain/platform called Rally.io has announced that it would suddenly cease operations - meaning it's going to completely disappear into the ether (not the Ethereum kind) leaving its users and creators with tokens stuck on the halted chain.

Rally.io was intended to be a digital fan club, where creators could launch coins to give users exclusive engagement opportunities, as well as tips and payments for services/merchandise. But now, its users are left with nothing.

Rally.io has also shut down its Twitter account in anticipation of the backlash from its now disgruntled users. It seems like all those exclusive engagement opportunities and tips have been wiped out of existence.

It's an unfortunate situation for those who have put time and resources into the platform, and a reminder that the space is still risky and will continue to be volatile for the foreseeable future.