Asia Express – Cointelegraph Magazine

Our weekly roundup of stories from East Asia curates the business’s most vital developments.

Huobi’s disgruntled workers

According to native media reviews, cryptocurrency trade Huobi Global has terminated all year-end worker bonuses and advantages, in addition to axed its total core improvement workers situated in mainland China. The laid-off workers will probably be as a substitute switched to “advisory contracts” that don’t obtain safety underneath Chinese labor legal guidelines. Employees additionally declare that their leftover paid trip days and sick depart days for 2022 have been set to zero with out prior notification. 

Moreover, executives allegedly imposed a messaging ban on all main Huobi worker discussion groups. In response, workers reported shaped a 400-member robust “rights upkeep group” and have since sought the recommendation of counsel within the labor dispute. One worker reportedly wrote: 

“I like my firm and my job; on the similar time, I help all selections that profit the corporate, and I do know that with economies recessionary all over the place within the globe, Huobi administration workers should tighten their belts, and I can perceive the dearth of year-end bonuses. That stated, I can not settle for the unreasonable swap of employment contracts. I’ll struggle this to the tip.”

However, it seems that workers nonetheless obtained the quick finish of the stick. On Jan. 6, Cointelegraph reported that Huobi laid off 20% of its workforce whereas denying insolvency rumors. But on the time of publication, sources say that the trade is working at a lack of $10 million per 30 days.

Founded by Chinese entrepreneurs Leon Li and Du Jun in 2013, Huobi relocated its registrar to Seychelles following China’s Bitcoin ban. Last October, its founders reportedly bought 100% of their stake to Chinese blockchain character Justin Sun, who additionally based the Tron community and is the CEO of BitTorrent. Sun claims merely to be an “adviser” to Huobi, at present the Seventeenth-largest cryptocurrency trade worldwide by 24-hour buying and selling quantity. 

MOBA sport’s 100,000 downloads 

Approximately one month after launch, SuperpowerSquad (SPS) has been downloaded from Google and Apple’s app shops greater than 100,000 occasions, a spokesperson for the multiplayer on-line battle enviornment (MOBA) blockchain sport informed Cointelegraph.

The spokesperson stated that the BNB Chain-based sport, which had been in improvement for over two years, seeks to turn into a “full GameFi blockchain ecosystem,” and the following steps embrace cross-bridge integrations and increasing the native token SQUAD’s utility to its second and third blockchain video games in improvement.

Superpower Squad is a multiplayer battle enviornment blockchain sport. Source: Superpower Squad

The agency has already accomplished its mainnet and token launch and developed a built-in in-game pockets deal with that permits customers to gather NFT hero rewards and digitized gadgets. SPS at present has round 3,000 every day lively customers. The firm is registered within the British Virgin Islands, with its core improvement workers based mostly in Hong Kong and Singapore. 

Bitmain unveils 122 TH/s Bitcoin miner

On Jan. 11, Beijing-based application-specific built-in circuit producer Bitmain launched the brand new Antminer S19j Pro+. The firm claims that the brand new Bitcoin miner is 10% stronger than the S19j Pro, with a hash fee of 122 terrahash per second. The agency states it’s now a very world Antminer:

“In addition to its glorious efficiency is its adaptability to most world information facilities, with a brand new enter voltage vary of 220-277V. Given that the commercial electrical voltage within the United States is 277V, Kazakhstan 220-230V, and Russia 220V, the voltages in these three international locations are throughout the protection of 220-277V.”

Although pricing has not been disclosed, the S19j Pro predecessor at present prices $1,842 with out transport by way of laptop {hardware} retailer Newegg.

A Bitmain ASIC miner
A Bitmain ASIC miner. Source: Newegg

Digital yuan included in M0 figures

According to a Jan. 10 native information report, the People’s Bank of China in December started together with its digital yuan central financial institution digital foreign money (e-CNY) in official M0 cash provide figures. Official information revealed that over 13.61 billion Chinese yuan ($2 billion) value of e-CNY has been issued for the reason that pilot program started in January final yr. Over the previous yr, state builders have rolled out options reminiscent of offline and no-electricity-required funds. However, some officers say that adoption stays under expectations. 

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Researchers’ quantum digital signature

As reported by the Chinese know-how web site Lianmenhu, researchers Chen Zengbing and Yin Hualei at Nanjing University have efficiently signed a digital file utilizing a quantum digital signature framework. Using a mix of one-time hash and one-time pad encryption rules, researchers reportedly elevated the signing fee by an element of tons of of hundreds of thousands. Unlike classical signatures, reminiscent of signing a doc with a pen or public key encryption, quantum signatures are verified by way of quantum mechanics and theoretically can’t be cast. The college stated: 

“The group demonstrated the world’s first full-featured quantum safety community experimentally, realizing the safety of all components of knowledge safety and offering a technically full community and quantum security base for the digital economies and digital currencies.”

WangYi’s Lunar New Year metaverse

On Jan. 10, Shanghai Securities News reported that Chinese web large WangYi has partnered with state broadcaster China Central Television (CCTV) for a metaverse evening particular on the latter’s 2023 Chinese New Year program. 

“For this operation, WangYi mobilized its LeiHuo, FuXi, Entertainment AI Lab, and WangYi Blockchain departments, using digital twinning, blockchain, AI digital artwork, and AI sound applied sciences, to create the primary Chinese New Year metaverse live performance that may help tens of 1000’s of audiences,” the outlet reported.

The WangYi metaverse platform reportedly includes a 30 km² digital water house the place customers can observe the official CCTV New Year’s program, take part in live shows and launch fireworks. WangYi additionally stated it could unfold its viewers throughout “a number of parallel universes” (i.e. servers) to cut back lag and improve multiscreen streaming. 

WangYi Metaverse
WangYi’s Chinese New Year metaverse. Source: WangYi

Thailand SEC probes Zipmex

On Jan. 11, Cointelegraph reported that Thai cryptocurrency trade Zipmex is going through a probe by the nation’s Securities and Exchange Commission alleging a breach of native guidelines.

On Dec. 2, Thai VC fund V Ventures introduced that it had acquired the trade for $100 million. On July 20, the corporate paused consumer withdrawals simply moments after its CEO denied monetary hassle rumors. The trade has requested for a credit score safety extension in Singapore pending the acquisition.

Asia Express – Cointelegraph Magazine

Zhiyuan Sun

Zhiyuan solar is a journalist at Cointelegraph specializing in technology-related information. He has a number of years of expertise writing for main monetary media shops reminiscent of The Motley Fool, and Seeking Alpha.

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