Daily Edition · Page 6

THE DAILY INDEX

Technology, AI, software, security, crypto and business

MARKETS & BUSINESS

TLDR Crypto

DO ALL ROADS LEAD TO MPC? EXPLORING THE END-GAME FOR PRIVACY INFRASTRUCTURE

Increasing onchain privacy is critical for expanding into real-world use cases like financial accounts and minimizing MEV. Though ZK offers strong privacy guarantees, it does not allow multiple parties to interact with the same private state, limiting expressivity, and fully homomorphic encryption limits the strength of privacy guarantees. Multi-party computation (MPC) allows for programmable infrastructure with a shared private state without a single point of failure. Its main challenges are communication overhead and the potential for offchain collusion.

PUMPDOTFUN IS THE OPENSEA OF THIS CYCLE BUT IT'S NOT EXACTLY THE SAME

Pumpdotfun is positioning itself as the top memecoin launchpad of this cycle by rapidly delivering features users enjoy, such as SOL rewards, zero fees for coin creation, and integrated social features. Unlike platforms like OpenSea, which have been criticized for slow development and self-serving practices, Pumpdotfun focuses on community engagement and growth. However, despite its success, concerns are rising about long-term profitability for users in a highly competitive market with fleeting consensus on which coins will hold value.

HOW WRAPPED BITCOIN (WBTC) HAPPENED AND ITS PURPOSE

Wrapped Bitcoin (WBTC) was launched in 2018 by Kyber Network and BitGo to bring Bitcoin liquidity to Ethereum and boost DeFi. The project used a centralized custodian model for simplicity and transparency, with BitGo managing off-chain tasks and Kyber handling smart contracts and community outreach. WBTC quickly became the leading Bitcoin token on Ethereum due to its clear design, community support, and first-mover advantage. Recently, changes by BitGo have raised concerns about the future trust and stability of WBTC.

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