TLDR CRYPTO 2023-12-13

THIS BITCOIN MINER IS SET TO BUY FOUR CANADIAN POWER PLANTS

Hut 8, a crypto mining company, is set to acquire four natural gas power plants and a Bitcoin mining site in Ontario from Validus Power Corp. The acquisition, approved by the Ontario Superior Court of Justice and expected to close in January, reinforces Hut 8's growth strategy after its recent merger with US Bitcoin Corp. The facilities will be used to bolster energy pricing certainty, mine Bitcoin, sell energy to the market, and/or support high-performance computing, such as AI applications.

KUCOIN SETTLES WITH NEW YORK FOR $22 MILLION AND AGREES TO BLOCK USERS FROM STATE

Crypto exchange KuCoin has agreed to a $22 million settlement with New York's Attorney General Letitia James over a lawsuit accusing it of breaking state laws by listing unregistered securities. As part of this agreement, KuCoin will withdraw from the New York market, paying $5.3 million to the state and refunding $16.7 million to investors.

COINBASE TO BRING TRADFI ASSETS ON-CHAIN WITH NEW PLATFORM BUILT ON BASE UNDER ABU DHABI REGULATOR'S OVERSIGHT

Coinbase is launching "Project Diamond" to blend traditional finance and crypto. This platform, incorporating Coinbase Prime’s custody service, will allow institutional investors to issue and trade digitally native debt instruments using Base, Coinbase's Ethereum scaling network. The platform, already approved in principle by Abu Dhabi's FSRA, is anticipated to increase efficiency and transparency for financial transactions.

CELESTIA’S HIGH-THROUGHPUT, MODULAR DA LAYER TO INTEGRATE WITH POLYGON CDK IN CRYPTO’S BROADBAND MOMENT

Blockchain scaling solution Celestia is partnering with the Polygon Chain Development Kit to facilitate the launch of high-throughput L2 chains on Ethereum. The move will reduce Ethereum L2 transaction costs by more than 100 times, using Celestia's data availability solution. It will be available as a feature in Polygon CDK's customization options starting early next year.

WALLET INFRASTRUCTURE: EMPOWERING THE NEXT GENERATION OF DAPPS

This article provides a deep dive into the advancements and implications of account abstraction and wallet infrastructure in web3. It sheds light on how this new innovation allows the decoupling of account management from key management, improving the user experience and facilitating seamless onboarding for dapps. Additionally, it discusses the potential of smart accounts, modular account infrastructure, key management techniques, and the role of various elements like account factories, relayers, and signers.

CELESTIA DEEP DIVE

This thread provides a deep dive into Celestia, which has been gaining attention with its novel data availability network. Unlike traditional blockchains that merge all functions into one layer, Celestia separates the consensus and application execution components, allowing applications to access state more easily without also changing blockchain state. This type of functionality enables a variety of different scaling methods that would not be available otherwise.

THE EVOLVING RESEARCH AROUND INTENTS

This presentation from Maven11 provides some thoughts around intent-based architecture in blockchain development and applications. It gives a high-level explanation of what intents are and why you would use them. It also explains how intents are being used in blockchain applications and specific components of these types of applications such as auctions, solvers, off-chain mechanisms, and more.

THE CURRENT STATE OF STORAGE PROOFS

This post discusses the ways in which storage proofs can be generated and verified across various blockchain networks, like Ethereum. It highlights the limitations in state root availability and verification costs, and presents several solutions, methods, and protocols including zkSNARKs, MPT, KZG, Recproofs, Verkle Proofs, etc, for more efficient and secure storage proof generation and verification. The author suggests potential ecosystem optimizations like direct data reading, shared sequencing, rollups, and Verkle tree structures.

BITCOIN ATM COMPANY COIN CLOUD GOT HACKED. EVEN ITS NEW OWNERS DON’T KNOW HOW

Hackers allegedly breached Coin Cloud, a defunct Bitcoin ATM firm, claiming theft of customer photos and data from 300,000 individuals. The details and culprit are still unknown.

SYNTHETIX TO END SNX TOKEN INFLATION, SHIFT FOCUS TO BUYBACKS AND BURNS

Synthetix's governance-approved proposal SIP-2043 is ending SNX token inflation and introducing buybacks and burns as new strategies.

BLACKROCK'S BITCOIN ETF NOW INVITES PARTICIPATION FROM WALL STREET BANKS

Proposed changes to spot bitcoin ETFs may allow banks to create fund shares with cash instead of crypto, potentially expanding Wall Street's involvement.

DEGENS ARE PIONEERS

Oftentimes, crypto is ridiculed as being purely a technology to speculate on. This article explains how speculators actually tend to be pioneers of new technologies.

YOUR REFERRAL LINK - https://tldr.tech/crypto?ref=2613930