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THE DAILY INDEX

Technology, AI, software, security, crypto and business

MARKETS & BUSINESS

TLDR Crypto

INTRODUCING BIP-420: FORMAL BITCOIN IMPROVEMENT PROPOSAL FOR OP_CAT

The OP_CAT opcode has formally received proposal number 420. BIP-420 will allow two values to be concatenated in the Bitcoin scripting language. Though trivial in implementation, this feature greatly increases Bitcoin's functionality by introducing covenants that enable smart contracts, cryptographically secure bridges, zero-knowledge proof verification, and other useful features. OP_CAT has received much attention recently because the Taproot Wizards promoted the opcode through its Quantum Cats Ordinals.

A FULL BREAKDOWN OF ZKASINO'S $33M THEFT

In a brazen $33 million rug pull, the crypto betting platform ZKasino converted over 10,500 ETH of user funds into $ZKAS tokens at an inflated price without consent and imposed a 15-month vesting schedule. Despite numerous red flags, including the founder's shady past, unpaid employees, and abruptly canceled token listings, ZKasino managed to raise a massive war chest before ultimately shutting down communication channels and banning users who called out the scam.

CRYPTO WILL 10X INTERNET UX

Crypto's path to hundreds of millions of users will come by making the user experience drastically better than Web2. Passwordless keys, web wallets, smart contract accounts, and open social graphs remove many frustrations around having multiple accounts, two-factor authentication, and siloed information. Signing into new apps will be a one-click process, with all relevant information and finances immediately available. Crypto will make the internet more usable and interconnected than ever before.

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