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You must have heard the term "Permissionless" in Web3, but what does it actually mean? It's simple, it means anyone can use a Web3 system without needing approval from a central authority. Permissionless systems are open networks or environments that allow anyone to access, use, build on and participate in them without requiring permission from a gatekeeper. Four key characteristics define what makes a system permissionless. Some of these concepts may already sound familiar: 🐝 Open Access: Anyone with an internet connection can join the network, read information, submit data, build applications and also carry out transactions. 🐝 No Gatekeepers: Users don't need approval from a central operator, bank, or corporation to participate. 🐝 Decentralization: Control and decision-making are distributed across a network of participants rather than concentrated in the hands of a single entity. 🐝 Transparency: Network rules and public transactions can be independently viewed, verified, and audited by anyone. So, the next time you hear the word "Permissionless" in Web3, you'll know exactly what it means.

🐝Buzz News Alert: Prediction markets such as Kalshi and Polymarket could come under increased scrutiny in Washington, with Democrats pledging a regulatory crackdown following their midterm election sweep, according to Politico.

🐝Buzz News Alert: The upcoming NYSE-affiliated tokenized securities platform’s core clearing and settlement layer will be built on top of Avalanche technology. This is a huge news for the entire @avax ecosystem and this is what real adoption looks like 🔺

🚨 BUZZ NEWS ALERT 🐝 Nigeria’s CBN has introduced a new regulatory framework for virtual assets and stablecoins. The new rules come with some serious requirements for crypto businesses operating in Nigeria. Here’s what you need to know: - ₦10 billion minimum capital for naira stablecoin issuers. - ₦15 billion for foreign-currency stablecoin issuers. - ₦1 billion for other non-security virtual asset service providers. But there’s more. - Algorithmic stablecoins that rely primarily on algorithms instead of full reserve backing are prohibited. - Platforms facilitating P2P transactions now fall under regulatory oversight. - Existing operators have 30 days to register, 60 days to begin supervisory reporting and 180 days to apply for the appropriate licences. Existing operators can continue operating during the transition period, subject to CBN conditions and their existing scale of operations. This could change how exchanges, stablecoin issuers and P2P platforms operate in Nigeria. Nigeria’s crypto landscape is entering another phase of regulation, and businesses in the space need to pay attention. 🐝 Stay informed. Stay ahead.

Blockfest brought together some of the most interesting voices in Nigeria’s crypto and Web3 space, and we took the opportunity to hear directly from them. 🐝 Beyond asking about their experience at Blockfest, we wanted to get to hear their thoughts on the state of crypto events in Nigeria. Having experienced the scale, organisation, activities, and overall standard of Blockfest, what do they think the future of Web3 events in Nigeria should look like: - What should the industry be doing differently, - What does it take to create experiences that truly bring the community together? We caught up with attendees and OGs to hear their honest perspectives. Here's what they had to say. 👇

Blockfest, through our lens with Xeus. We caught up with @SamuelXeus, Convener of Blockfest to discuss the vision behind the event, what it represents for the ecosystem, and what’s next. Watch the clip and stay tuned for more conversations from Blockfest.

🐝 ALPHA ALERT Just spotted a free mint opportunity on ROB TOWN 🏹 If you’re looking to get in, here’s what you need to do: - Build a house with any amount. - Win 5 raids against 5 different players. - Keep your house until mint. Bring your mutuals along too, the more the merrier. Worth keeping an eye on @robtown_rh

Behind the scene at @blockfestafrica in Lagos with our founder @heisfeezy and the team. Trust your number 1 media hub to always be in the room buzzing with folks changing the trajectory of tech across Africa 🐝

The Blockfest x InsideTheHive Giveaway has come to an end, a huge thank you to everyone who participated in the tasks. Congratulations to our winners: @merveldoski @Tabbyomodudu @temy_topsy @Phemzyfx @adeneks_design Send us your email on telegram to claim your ticket. Stay connected with @InsideTheHive for more exciting opportunities, community rewards and all the Buzz from @blockfestafrica.