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Daily Crypto News Jan 12, 2022: Top 3 crypto updates for today

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After all the hustle and bustle in the Indian crypto market, the Sun seems to be shining brightly. After the great news of the Indian government in talks of crypto regulations, it seems that blockchain-based protocols are now being readily accepted by the ministries. Axis Bank recently issued a financial contract between two parties on a state-backed blockchain platform called  Secured Logistics Document exchange (SLDE). This definitely marks a new journey for the entire Indian community bullish on blockchain, cryptocurrency, and the metaverse. 

After H&M launching its first metaverse store, it seems that metaverse will also be the place you and I will be meeting up with our colleagues. Because why not? Enjin among other big names has joined the metaverse and is ready to launch its headquarters in metaverse called Bloktopia. Forget remote working, Virtual working is so 2022. 

Polygon (MATIC) has been breaking its own records in the past year and has even achieved some remarkable growth over the one year. Amid all the spike in its gas fees, the platform is all set to launch its zero-knowledge EVM Hermez. The date has been announced and it will be anytime in the second quarter of 2022. It is going to be a great move for the blockchain ecosystem and its venture to scale Ethereum. Read more on all these below. 

Quick Crypto News Roundup! 

Daily Crypto News  Jan 12, 2022

Axis Bank to issue financial contract on state-backed blockchain platform

India’s Ministry of Commerce develops the SLDE platform for transferring documents via blockchain-based security protocols. The Indian financial service giant Axis Bank has issued a financial contract between two domestic businesses with the help of a government-backed blockchain platform called Secured Logistics Document Exchange (SLDE). 

SLDE was built and released on July 28, 2021, by the Indian Ministry of Commerce and Industry to act as a digital document exchange platform utilizing blockchain-based security protocols for data authentication as well as security. Axis has issued a letter of credit which is a financial contract guaranteeing payment upon certain conditions. This letter of credit was issued between Lalit Pipes & Pipes Ltd and ArcelorMittal Nippon Steel India. With SLDE the Indian ministry wishes to improve transparency in terms of logistics, capital requirements, and audits. 

Read more in detail about Axis Bank using a state-backed blockchain protocol

Source: Cointelegraph

Enjin decked up to launch headquarters in Bloktopia metaverse

Enjin, one of the leading Polkadot projects has recently announced the launch of its brand new headquarters in Bloktopia metaverse. This new space has been designed to flaunt its growing NFT space and projects. It has almost become a trend to have an office in the virtual space as more and more projects pour into the metaverse. Remote working was the thing of the past, Virtual working seems to be more 2022. 

Enjin’s move to enter Bloktopia metaverse with an interesting approach is surely a part of its big game plan to keep the ongoing community engagement. It was in November last year, Enjin launched a dedicated $100 million US metaverse fund to support organizations and individuals who were working on its ecosystem, NFT projects, and other metaverse projects. 

Read more on how opening headquarters in the metaverse affect Enjin’s business and upcoming projects. 

Source: Cryptoslate.com

Polygon (MATIC) Zero-knowledge EVM Hermez approaches mainnet launch 

Amid all the spike in Polygon’s fees, the platform approaches the release of its scalability solution. It has finally unveiled the date of the most crucial upgrade of 2022. The mainnet release date for zero-knowledge EVM Hermez has been set in the second quarter of 2022. 

The first mainnet version will only be suitable for value transfer and shall not be EVM compatible. Version 2 will have a hundred percent EVM compatibility. This is a great move to scale Ethereum as stated by ConsenSys investor and Polygon’s growth advisor John Lilic. 

Read more on Polygon’s EVM Hermez launch and what it means for the blockchain system. 

Source: U today

Crypto Market Trend January 12, 2022

Here is a quick summary of the top crypto gainers and losers for the day. 

Top 3 Crypto Gainers 

Cryptocurrency  Price (latest by January 12, 2022)  Change in % 
Fantom (FTM) ₹220.62 18.17%
Near Protocol (NEAR) ₹1503.49 14.46%
Harmony (ONE) ₹25.48 12.8%

*Prices are latest by 11:30 AM January 12, 2022.*

Top 3 Crypto Losers 

Cryptocurrency  Price (Latest by January 12,  2022)  Change in % 
Dash (DASH) ₹11306.57 8.06%
Internet Computer (ICP) ₹2687.36 6.66%
Chainlink (LINK) ₹2110.21 4.86%

*Prices are latest by 11:30 AM January 12, 2022.*

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