NORN.xyz Newsletter Week 4
Do you like puzzles...?
Hi Friends! We are delighted to have you back here with us for another edition of the NORN.xyz newsletter. Throughout this newsletter we have highlighted the most important news of the past week and created an exceptionally hard riddle for you to crack as the Web3-Gym has come to an end! We look forward to seeing who can crack it ;)
PS. The first five people to crack the riddle and email or DM us on Instagram or Twitter with the result will get allowlisted for a big project we are working on that will be launched this spring. Best of luck!
Welcome back to The Web3 Gym
This Week’s Exercises
Time certainly walks past quicker than ever! The Web3-Gym has finally come to an end and we are excited for the big finale! Can you complete the Riddle below?
Instructions: This riddle consists of 4 questions. Each question corresponds to one of the words in the ‘Word Search’ called “The Words” below. Each word may only be used once. Good Luck!
Q1
I am digital and one-of-a-kind,
I am bought and sold, never rewind.
I am art that can't be touched,
But my value can be felt so much.
What am I?
Q2
I am the internet of value,
Where data is owned by you, with no need to be in a queue.
I am the future of the digital world,
Where trust and security are unfurled.
What am I?
Q3
I am stored and secured,
but not fully explored,
I am a sequence and trustless,
I am a real bless.
What am I?
Q4
I'm digital and virtual, a decentralized deal,
I'm secure and private, for all to feel,
I'm not a bill, but I'm worth more,
I can be sent and received, through an open door,
I can be traded for goods, and that's for sure,
What am I, can you find the lure?
Did you get all the questions right from last week?
Can a blockchain transaction be changed after it has been completed? - Short answer: No, unless the majority of the network (51%) agree.
Are Smart Contracts tangible (like paper) or intangible (stored on the blockchain)? - Smart contracts are intangible
What is considered the safest option to store crypto? - Cold wallet, a proper hardware wallet for instance
TL;DR
Banks in the US have provided billions of dollars to crypto banks
Norway is the largest mining hub for bitcoin in Europe
Cité Gestion has become the first bank to tokenize its shares
Doodles finally anounces details for upcoming project
Business & Markets
Banks in the United States reportedly provided billions of dollars to crypto banks
The Federal Home Loan Banks System (FHLB) in the United States has reportedly lent billions of dollars to two of the largest cryptocurrency banks to help combat the effects of a surge in withdrawals. The FHLB lent nearly $10 billion to Signature Bank, one of the largest borrowing transactions by a bank in recent years. Silvergate also requested fund from the FHLB, recievibing at least $3.6billion.
Read more here.
Norway is the largest mining hub for Bitcoin in Europe
Norway has become the largest hub for bitcoin mining in Europe because of its hydropower. Norway is a major producer of electricity, generating the second most electricity per capita globally in 2021. Hydropower generated 92% of the countries electricity in 2021 and 7% came from wind. This, along with the stranded hydropower, makes Norway an attractive location for bitcoin miners. Bitfury, Bitzero, Kryptovaulkt and Arcane Green data are some of miners operating in Norway.
Click here for more information.
A Swiss private bank has become the first of its kind to tokenize its own shares.
For the first time a private bank is tokenizing its own shares. The Swiss bank founded in 2009, Cité Gestion, is using blockchain technology to tokenize its own shares. CG will be partneting with Taurus, a digital assets firm, to issue its tokenized shares, manage the smart contract that creates the shares, and perform asset servicing of its securities. The tokens were created using the CMTAT, an open-source smart contract published by the CMTA and recorded on Ethereum.
Read about it here.
Innovation & Launches
Doodles new project is coming and we know the details
Doodles is a popular NFT collection with 10.000 unique collectibles on Ethereum, featuring hundreds of hand-drawn traits and designs. Doodles 2 collectibles are set to launch on Flow, a blockchain platform that allows for cross-chain interoperability. The collection will enable holders to customize their Doodles with wearables such as apparel, accessories, and gadgets. Once a perfect look is set, holders will be able to share their new dynamic NFT identify across social media, IRL experiences, and other integrations.
Learn more about it here.