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Tencent Cloud tags itself as the largest company operating under the internet banner in China. Its flagship products, like WeChat and QQ, are used by millions of people in Asia. 

After operating as a high-performance, reliable, and secure cloud computing service for years, it jumped into the blockchain-powered economy in 2023 with a series of partnerships. 

Below, we examine some of the partnerships and their potential impact on the future of the decentralized finance (DeFi) sector. 

## Tencent Cloud has partnered with MultiversX   

[MultiversX](https://www.kraken.com/learn/what-is-multiversx-egld) was formerly called Elrond and has been labelled an Ethereum Killer. MultiversX aims to compete with other smart contract platforms by having an ecosystem of cryptocurrencies and DApps (decentralized applications). 

On 16 February, 2023, MultiversX said it had allied with [Tencent Cloud](https://www.coindesk.com/web3/2023/02/16/tencent-teams-up-with-multiversx-to-expand-web3-strategy/) to help the company with its mission of expanding its Web3 products.  

Through this partnership, Tencent will use the possibilities of its technology and MultiversX’s network to deploy a range of products on the project’s blockchain.  

The Vice President of the cloud computing company, Leo Li, said that liaising with MultiversX was a way of deepening connections between the real and virtual world.  

The announcement had a huge impact on the crypto market as ELGD, the native asset behind the MultiversX protocol, [rose by 14%](https://coinmarketcap.com/currencies/multiversx-egld/historical-data/) from an opening day price of $46.41 to an intraday high price of $53.06.  

The day's trading volume was around $123 million, corresponding to a market capitalization of $1.2 billion. 

## Avalanche and Tencent Cloud partnership 

Avalanche is among the most patronized protocols and plays an integral role in the DeFi and NFT ([non-fungible token](/news/article/nft-art-marketplaces)) markets. AAVE, Benqi, GMX, Trader Joe, Stargate, Yield Yak, Vector Finance, Platypus Finance, Pangolin, and CIAN are some of the DApps deployed on Avalanche, which has given the chain a TVL (total value locked) of approximately [$600 million](https://defillama.com/chain/Avalanche).  

As a top 10 NFT blockchain by all-time sales, with around [$430 million,](https://www.cryptoslam.io/blockchains/avalanche) Avalanche is also a major player in the digital collectibles space.  

On 22 February, 2023, Avalanche disclosed that it has partnered with the Chinese company to support developers and projects in its ecosystem.  

Avalanche’s subnets (a piece of the Avalanche network) will also be explored by both parties as it is used by many enterprises. Representatives of Avalanche believe it will help accelerate the adoption of Web3 businesses across several businesses in the mainstream.  

With this, more products can be added to Avalanche's suite of Web3 products which already includes a bridge, explorer, and wallet. 

AVAX, the native asset behind Avalanche, saw a substantial rise in trading volume for the day. About [$606 million ](https://coinmarketcap.com/currencies/avalanche/historical-data/)was poured into the coin after it reached an intraday high price of $21.46.  

The new alliance deepened AVAX's status as a medium digital asset by value, with a market capitalization of $6.4 billion (medium cap assets range between $2 and $10 billion). 

## Chainlink allied with the company in May  

Chainlink joined the crypto market to help solve the problem of interoperability, as many blockchains were built with independent features. Over time, it has become one of the most patronized decentralized oracle networks. 

On 31 May, 2023, [Chainlink](https://twitter.com/chainlink/status/1663909326770012160?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1663909326770012160%7Ctwgr%5E6f533ab32cbc6b6b38f43a5a623a5ecf4c3aab01%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.crypto-news-flash.com%2Fchainlink-and-tencent-cloud-join-forces-to-unleash-web3-potential-accelerating-decentralized-technology-adoption%2F) announced via its official X handle (formerly Twitter) that it had teamed up with the internet firm to support Web3 startup development. 

The teaming up of the two firms will see BUILD projects under Chainlink receive a minimum of $10,000 worth of default vouchers for Tencent Cloud services.  

The vouchers will facilitate access to the internet company's various cloud computing resources, including but not limited to networking, storage, and power. 

As one of the coins hit hard during the crypto winter, which was born out of the collapse of Do Kwon's Terra Network in May and Sam Bankman-Fried's FTX in November 2022, LINK rose slightly on the back of the announcement. 

As of 13:00 UTC on 11 August, 2023, LINK was exchanging hands for[ $7.55](https://coinmarketcap.com/currencies/chainlink/), and many analysts forecast the coin to breach the $10 mark again and retest $20 in the future. 

## Conclusion  

Web3 is seen as the next iteration of the internet, where billions of people across the globe will be able to connect through decentralized systems. 

Being at the helm of the internet through its cloud computing services means that Tencent Cloud will play an instrumental role in the future of the blockchain-backed economy, which relies solely on the internet to function. 

With partnerships with MultiversX, Avalanche, and Chainlink leading to a rise in their respective native assets, more strategic team-ups could reflect positively on the overall market capitalization of the[ crypto](/news/article/is-crypto-regulated-across-the-globe) industry. 

Tencent Cloud leaps into crypto with partnerships

Algorand [blockchain](/news/article/blockchain-for-dummies) doesn't have the retail hype surrounding competitors, but that doesn't matter. The protocol is garnering institutional adoption, and Algorand news shows there's much more behind the scenes. This article lifts the curtain to offer you a preview.

## Algorand news often misses out

Algorand (ALGO) is an often-overlooked powerhouse, but ongoing Algorand news reveals a token with a promising future. The platform presents powerful features, including low fees, high-speed transactions, and various potential applications. Unfortunately, most investors miss out on its opportunities because it doesn't usually make it to the mainstream media. The truth is that the protocol has hidden value and the potential to join the league of top cryptocurrencies in the future.

## Upgrade boosts performance

Algorand recently released a network upgrade that reduced the protocol’s block time significantly and boosted its performance. According to the [announcement](https://twitter.com/Algorand/status/1671867287534534657), the newly released upgrade by the Proof of Work (PoW) network that went live on the Mainnet on 22 June, 2023, enhanced the network's speed by roughly 10%. Accordingly, the block time reduced from the previous 3.8 to 3.3 seconds, one of its most significant time reductions ever percentage-wise.

Following the news, the network's native token ALGO's value surged nearly 5% within 24 hours to trade at $0.13.

## Algorand 3.16.0-beta update

Other Algorand news indicates that while it may have suffered a severe body blow following US Security and Exchange Commission's (SEC) assertion that the project was a security, the protocol is already on its way to full recovery from the almost 25% crash it suffered that saw investors sell their holdings in an attempt to cut their potential losses. 

While the SEC announcement was bad news for the investor community, the [silver lining](https://github.com/algorand/go-algorand/releases/tag/v3.16.0-beta) that didn’t reach the limelight was the new [3.16.0-beta](https://developer.algorand.org/articles/developer-improvements-in-go-algorand-316/) update earlier in June 2023 that would improve the protocol’s usability, add new developer tools and add a few minor tweaks that would make it the fastest project in terms of responsiveness and transaction speeds.

## Algorand invades the Argentinian skies

Earlier in the year, some stealth Algorand news showed Argentinian low-cost airline Flybondi had integrated the nascent Web3 into its operations. Per the[ announcement](https://flybondi.com/ar/prensa/Noticias/193b58c1-74d4-4794-ac82-f7c856d1e040), Flybondi partnered with TravelX to issue e-tickets as non-fungible tokens ([NFTs](/news/article/are-nfts-dead-investigation)) on the Algorand blockchain. 

The integration was announced in early March 2023, and christened Ticket 3.0 was an expansion of the airline’s existing partnership with TravelX starting in September 2022. The Algorand-based NFT ticketing technology enables passengers to alter details and sell or transfer their NFTickets to gift family or friends via a self-management module.

## Kokua survivor wallet

Further Algorand news shows the human side of the protocol following its [recent announcement](https://www.prnewswire.com/news-releases/st-vincent-de-paul-disaster-services-launches-kokua-a-platform-for-disaster-relief-disbursements-built-on-the-algorand-blockchain-to-bring-game-changing-efficiency-and-transparency-to-relief-funding-for-people-impacted-by-natur-301690364.html) of corporate social responsibility (CSR) in partnership with St. Vincent de Paul Disaster Services.

The aid organization chose the Algorand blockchain to launch its Kokua survivor wallet. The disbursement platform streamlines the connection between relief organizations and natural disaster survivors to facilitate their recovery.

Survivors will validate their identity, redeem their household goods and furniture, and receive aid digitally via the Algorand blockchain. Amazon would fulfill the order–all using the Kokua survivor wallet.

## Conclusion

The nature, capability, and utility of Algorand have seen people view ALGO as a direct competitor of the dominant Ethereum. While it may not be too apparent to most crypto fans, Algorand news shows a crypto project with a bright future.

Algorand's impressive high-speed transaction processing and efficient functioning will see the protocol match and maybe overtake its competitors in the future.

Algorand news: Making silent moves behind the scenes

Cryptocurrency miners have been heavily criticised for their environmental impact due to high energy consumption. But the latest Argo Blockchain news could go some way to addressing that. 

Following criticism from environmentalists and politicians, cryptocurrency miners, particularly Bitcoin (BTC) miners, are turning to renewable energy sources. 

These include solar energy, wind, and hydroelectric power. Green Bitcoin mining now has a standard to abide by - non-profit organisation (NGO) Energy Web has launched a project called Green Proofs of Bitcoin (GP4BTC). This project will serve as a "certification layer", registering BTC miners as sustainable based on two metrics. 

The latest [Argo Blockchain new](https://www.coindesk.com/business/2023/05/24/non-profit-organization-energy-web-starts-sustainability-registry-for-bitcoin-miners/)s is promising - Argo Blockchain was one of five BTC miners certified as sustainable at the launch of GP4BTC in May 2023. 

## What is Argo Blockchain? 

[Argo Blockchain](https://argoblockchain.com/) is one of the world's leading cryptocurrency miners, promoting the use of renewable energy sources. Argo Blockchain mines cryptocurrencies at state-of-the-art facilities in Texas and Quebec. Here is an overview of its crypto-mining facilities. 

### Baie Comeau 

The Baie Comeau facility is spread over 40,000 square feet and operates around 15 MW of 100% hydroelectric power. The 100% renewable crypto miner is one of three crypto mining facilities operated by Argo Blockchain (Argo Blockchain owns only two facilities, more on this later). 

### Mirabel 

The Mirabel facility was Argo Blockchain's first large-scale crypto mining centre. While the smallest of the three facilities at Argo Blockchain (30,000 square feet), Mirabel is home to several operations, including cleaning and repair and server hosting for Proof of Stake (PoS) mining. 

The facility operates around 5 MW of 100% renewable hydroelectric power. 

### Helios 

The Helios facility is spread over an enormous 125,000 square feet. The facility uses immersion-cooling technology to power a whopping 180 MW of energy. 

It began mining operations in May 2022 and is still a part of the Argo Blockchain mining stack despite being sold to Galaxy Digital Holdings, Ltd. in December of that year for $65M. 

While Galaxy Digital Holdings, Ltd. owns the Helios facility, Argo Blockchain remains the owner of all crypto mining machines and will continue to host machines at the centre. The sale was a strategic move to reduce debt by $41M and improve liquidity position. 

## Argo Blockchain's mining influence 

To summarise the global mining influence of Argo Blockchain, here are some interesting statistics: 

- With an SHA-256 hashrate of 2.6 EH/s, the cryptocurrency miner is among the top tier of global crypto miners. To put it into perspective, this figure is equivalent to 0.7% of the world’s BTC mining network hashrate! 
- Equihash is the algorithm that is used to mine ZCash (ZEC). With an Equihash rate of 280 MS, the cryptocurrency miner produces approximately 5% of the world’s ZCash hash power! 

## Argo Blockchain news: Certified sustainable Bitcoin miner 

Now that we have seen that the crypto miner's operation is based on renewable sources of power, in particular 100% renewable hydroelectric energy, it is of no surprise that GP4BTC certified Argo Blockchain as a sustainable Bitcoin miner. 

The two metrics upon which this certification is based include participation in demand response programmes and acquisitions of renewable energy credits (RECs). This is just the beginning. The programme may be iterated soon to include the consumption of waste gas as a third metric for certification. 

While registration is free currently, a fee may be introduced with time. This fee may be for miners seeking certification or users looking for sustainable energy consumption details for crypto mining. 

According to Amy Westervelt, Senior Delivery Lead and Head of GP4BTC: 

“As of today, we're just starting with something that's very aligned with how other corporations are allowed to make renewable energy purchase claims.” 

Clearly, this project is a step forward in ensuring the consistent growth of the blockchain sphere. Follow the latest [Argo blockchain](https://argoblockchain.com/resources/in-the-news) news. 

Argo Blockchain news: certified green BTC miner

CryptoPanic is among the most patronized aggregators for breaking news and analysis about the digital asset market.  

Used by several writers and reporters to relay content through individual blogs and company sites, the news aggregator sees at least one million monthly visits, and it is among the top 70,000 websites worldwide. 

While independent portals like BeInCrypto, CoinDesk, [CoinTelegraph](/news/article/cointelegraph-explained), and CryptoSlate, among others, publish vital information, you will not come across all the trendiest content on a single platform.  

Below, we examine what this platform entails and the features available to you as a stakeholder in this emerging sector.  

## What is CryptoPanic?  

Founded in 2017, it aggregates news about the virtual asset sector, comprising fundamental and technical analysis. 

News found on the platform is invaluable to investors' trading patterns as it impacts the market positively or negatively. 

While the development team behind CryptoPanic has created many categories, interested parties can take advantage of three sections.  

The most used section is “News". Under this, you can find breaking news content reported by portals, including centralized and decentralized institutions. 

Aside from that, it covers all projects in addition to DApps (decentralized applications), NFTs (non-fungible tokens), stablecoins, and CBDCs (central bank digital currencies). 

You can also access "[Media](https://cryptopanic.com/news/media)". Under this, you can watch a select group of videos from well-established channels such as FUDTV (where FUD means fear, uncertainty, and doubt), TheCryptoLark, SimplyBitcoin, and AltcoinBuzz. 

Also, you can find “[Polls](https://cryptopanic.com/polls/new)", a place on the platform where you can express yourself by voting and contributing to [crypto](/news/article/is-crypto-dead) discussion. You can come across questions such as, do you think crypto is about to go into a bull or bear market, will BTC ever hit $100K, and what do you think will be the dominant currency in 2025?  

## CryptoPanic also offers a portfolio tracker  

Instead of visiting crypto price trackers such as CoinMarketCap, CoinStats, Coinranking, TradingView, CoinGecko, and others for data, you can create an account on the website and track all the activity surrounding your holdings in one place.   

The CryptoPanic[ portfolio tracker](https://cryptopanic.com/portfolio) is extremely important, especially when the market continues to experience high volatility. 

Latest Moni

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