Saudi Arabia with ConsenSys to Host Blockchain Bootcamp

Blockchain bootcamp meets the MCIT’s 2020 action plan objectives to build a digital environment to boost development in the kingdom
07 May 2018   1973

The Ministry of Communications and Information Technology of Saudi Arabia (MCIT) and the ConcentSys jointly organized the blockchain bootcamp as part of the Kingdom's efforts to support technological development. This is reported by CCN.

Dr. Ahmed Al-Tunayan, Deputy Minister for the Technology Industry and Digital Opportunities, said that during the bootcamp, an MCIT action plan was identified with the support of ConcentSys until 2020 in the blockbuster industry.

The deputy minister spoke about the new business model in the conditions of global competition, within which attention will be focused on "new oil" - big data and modern technologies, such as blockchain.

From guided exercises to coded examples, this bootcamp comes in response to the Ministry’s desire to enable the Saudi technical youth to learn about the key advantages of blockchain technology and its mechanism, as well as to adopt it in a responsible manner to make businesses more profitable. The aim of this workshop is to leverage Saudi Arabia’s untapped human resource potential, equip them with knowledge and insight, so they understand the power of blockchain and the current and future potential of its application.

Lina Hediah

Executive Director, ConsenSys

Blockchain bootcamp is the latest of numerous events that are held in Saudi Arabia - the country is trying to gain a foothold as a leader in this industry.

Ripple recently signed a partnership with the central bank of Saudi Arabia to implement a pilot project of instant cross-border payments through the blockbuster of national banks in the region, writes CCN.

Buterin to Propose Way to Speed Up ETH 2.0 Migration

Vitalik Buterin,creator of Ethereum, believes the eth1 system can exist as a zero shard in eth2 
25 December 2019   203

Ethereum founder Vitalik Buterin proposed a solution that allows you to quickly get rid of the Proof-of-Work (PoW) algorithm chain and move everything in Ethereum 2.0 to Proof-of-Stake (PoS).

According to him, the eth1 system can exist as a zero shard in eth2.

Validators who choose to participate in eth1 will be able to register as friendly. They are expected to support the full eth1 node in addition to the eth2 node.

A full eth1 node will load all blocks of the zero shard and maintain the updated state of the old circuit.

Buterin believes that his proposal does not make any changes to the planned procedure for the transition from eth1 to eth2. Only software for stateless clients and witness size changes in the eth1 protocol are required.