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This article provides an in-depth guide to understanding ZK proofs and ZK rollups. It covers the fundamentals of ZK proofs, practical examples, and the intricacies of how ZK rollups operate. It also explores how these solutions interact with the Ethereum Virtual Machine. The guide is part of a series aimed at shedding light on the complex world of zero-knowledge cryptography in blockchain technology.
This thread makes a bull case for Coinbase. It argues that Coinbase is well-positioned to capture a substantial increase in volume due to its retail-friendly platform, high beta exposure to the crypto market, expansion into international markets, steady progress towards profitability, and assortment of offerings. However, the potential regulatory environment in the US and outstanding cases the company faces remain a concern.
Blockchain security auditor ChainLight discovered a vulnerability in the zkSync Era protocol that could have led to a potential $1.9 billion loss. The flaw was located in the zk-circuits, which verify the integrity of transactions. Exploitation would have allowed an attacker to mimic legal transactions. Although exploiting the flaw would be very challenging due to the high security level required, the Matter Labs team responded, swiftly fixing the issue, and ChainLight was rewarded with 50,000 USDC for finding the bug.
This post lays out some helpful tips to keep in mind during this cycle, especially during the bull market. It suggests buying support during dips and pullbacks, warns against excessive leverage, and urges traders to constantly scan for opportunities. It predicts new waves of liquidity from Bitcoin and Ethereum spot ETFs coming online, Solana’s potential during this cycle, and the impact of potential DOJ regulations.
a16z’s monthly update to its State of Crypto Index includes improved measures for mobile wallet users, now sourced from SensorTower, and developer library downloads, now featuring viem.
The SEC is seeking summary judgment against Do Kwon and Terraform Labs, alleging the sale of securities and fraudulent conduct without needing a full trial.
The US Supreme Court will hear a Coinbase case to determine if a Dogecoin sweepstakes dispute is subject to arbitration or California court jurisdiction.
Arta TechFin is developing regulated, interoperable fund tokens with Chainlink’s services, offering fiat-based investment returns. It is also seeking regulatory approval for the product.
PayPal is cooperating with a subpoena from the SEC seeking documents following the August launch of its stablecoin. The stablecoin, which PayPal says is backed by a dollar reserve, has caused concern among some US lawmakers who believe it needs more federal regulation. Stablecoins have been in the crosshairs of regulators lately as the House Financial Services Committee recently passed a bipartisan bill aiming to provide regulatory clarity for this technology.
Cryptocurrency exchange FTX founder Sam Bankman-Fried has been found guilty on all seven criminal counts against him. The jury convicted him for various types of fraud against FTX customers, Alameda Research lenders, and FTX investors. The charges were related to the collapse of FTX and Alameda late last year. He could now face up to 115 years in prison.
Nym Technologies, backed by Binance Labs and a16z, is planning to release a decentralized VPN called NymVPN in early 2024. Unlike traditional VPNs, NymVPN will route user data through multiple nodes to improve privacy and security. This comes after Nym's announcement last month that it received $300 million in commitments from investors to fund projects supporting privacy in the crypto ecosystem.
Alongside has unveiled the latest version of AMKT, a crypto index product now completely on-chain. It offers users a straightforward, low-fee way to get broad-based exposure to crypto. The company emphasized the benefits of crypto to reduce intermediaries and create more efficient markets. The Alongside team has had multiple audits and has an active bug bounty program to mitigate risks.
This guide lays out some basic things a Rollups-as-a-Service platform should have to help startups deploy and maintain blockchains. In choosing a RaaS platform, considerations include the quality of sequencers, autoscaling of remote procedure calls, auxiliary infrastructure such as bridges, block explorers and transaction tracers, integrations with popular crypto products and services, expert guidance, continuous maintenance, and operation support.
This blog explores what token valuations are, their importance, the timing, factors affecting these valuations, and how frequently a project should examine its token valuation. It also explores when a project should get its first token valuation, the necessity of token valuation prior to token minting, separating equity and token valuations, and the importance of token valuation during exchange trading.
German firm Northern Data is borrowing $600 million from Tether to expand its data center operations and bitcoin mining business. Proceeds will be used to enhance its Taiga Cloud, Ardent Data Centers, and Peak Mining. This follows Tether's subsidiary Damoon purchasing $427 million of NVIDIA GPUs for AI cloud computing. Despite a decline in market share this year, Northern Data recently pre ordered new mining technology worth $150 million.
Coinbase's Q3 performance beat expectations, but the markets were still not pleased with the results. It had a revenue decline that was attributed to a slow Q3 across the crypto industry. The growth story the Company focused on was Base, positioned to be the next Square or PayPal through peer-to-peer and merchant payments. Although trading volumes dropped, the company's international regulatory outlook improved in the quarter, giving it greater potential for growth. Nevertheless, the third consecutive quarter of declining revenue outweighed the positive elements of the release.
Several web3 games, GensoKishi Online, Cursed Stone, and Sailwars, will be launching on Immutable zkEVM, a gaming-centric Ethereum scaling network.
Marathon Digital initiated a 280 kW pilot project in Utah, using landfill-generated methane gas to power Bitcoin mining operations, aimed at potentially lowering emissions.
DPRK's state-sponsored hackers targeted blockchain engineers with new macOS malware Kandykorn via Discord, aiming to infiltrate a crypto exchange.
Jurrien Timmer from Fidelity Investments sees Bitcoin as "exponential gold" accepted as such by younger generations with the potential to perform well in certain economic conditions, akin to gold.
Coinbase has launched a service allowing eligible retail customers in the US to trade crypto futures. This offer includes "nano" bitcoin contracts and will be delivered through Coinbase Financial Markets. Although there are amplified risks with futures trading, it allows users to hedge their risk and diversify their portfolios. The futures contracts will be settled in USD.
The SEC has sued crypto firm SafeMoon and its senior officials for allegedly running a fraudulent scheme. The accused parties reportedly falsely guaranteed token liquidity and misused funds for personal luxuries. On top of the reported fraud, the SEC alleges SafeMoon's token fulfills the Howey Test's criteria, making it a securities offering.
DeBridge has introduced Interoperability-as-a-Service (IaaS), a service enabling total cross-chain interoperability for EVM and SVM blockchain ecosystems, with Neon Labs as its first user. The IaaS addresses three pillars of interoperability: cross-chain asset custody, authenticated message transfers, and high-performance value exchange. Operating on a subscription basis, the service can make any blockchain instantly accessible from any EVM or SVM chain.
Cubist has launched its new "wallet-as-a-service" product, CubeSigner, co-developed by professors from Carnegie Mellon University and the University of California San Diego. CubeSigner is designed to provide security for account keys, preventing accidental leaks or thefts. The new service, modifiable for any blockchain, is intended to help developers easily launch wallets.
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SwissBorg’s Smart Engine [9] is the fastest way to go from fiat to crypto with the best liquidity and rates. With the integration of Solana’s leading decentralised exchange [10], Orca, and the newly launched, Phoenix, SwissBorg has become the first platform to combine the power of Centralised (CEX), Decentralised (DEX), and Foreign Exchange (FX) platforms, all in one easy to use interface - what SwissBorg refer to as the world's first Meta-Exchange or MEX. Discover
The traditional measure of blockchain throughput, Transactions per Second, is increasingly unreliable due to bundled transactions. User Operations per Second (UOPS) captures the number of user operations within each transaction, whether they're individual tasks or grouped within bundles. This method may offer a more accurate comparison of blockchain utilization across different platforms and technologies, given the variety of architectures and data models that are now starting to pop up across different chains.
Injective has been gaining steam lately. This report attempts to break down both the good and bad in the ecosystem. Injective’s Token Burn 2.0 initiative is creating supply scarcity, showing a promising tokenomic model. On the other hand, the platform currently lacks a thriving DeFi ecosystem, causing a potential issue with user retention. The report provides ideas about how the protocol could capitalize on its strengths and improve some of its weaknesses.
This blog post discusses the parallels between the evolution of the internet and the ongoing development of cryptocurrency and blockchain technology. The author points out the similarities in network structures, the struggle for open vs. closed systems, and the potential for a financial bubble. The post further emphasizes the importance of key historical internet figures, such as Marc Andreessen, in shaping the future of tech innovation, including the world of crypto.
Blockchain technology can be intimidating for beginners due to complex account setup and management processes. This article discusses the challenges posed by Externally Owned Accounts and the use of Seed Phrases. It proposes Account Abstraction as a solution that simplifies blockchain use, making it more accessible to a wider range of users. With increased security and flexibility, Account Abstraction can improve the user experience, thus hastening mass blockchain adoption. The article provides examples of the application of Account Abstraction in sectors like gaming, investment, and corporate businesses.
Solana has been on a tear, up around 80% in 3 weeks. This thread breaks down some of the fundamentals and analyzes whether they reflect the same growth as the price of the token.
MicroStrategy reported its earnings, which included an update on additions to its Bitcoin treasury (now sitting at 158,400 bitcoins), putting its total unrealized profits at over $900m.
HSBC has launched a tokenization platform for gold, offering digital tokens representing physical gold holdings. Yet another example of growing interest in real-world asset tokenization.
Small Brain Games has launched Drawtech, a fully on-chain mobile game that allows players to color tiles on a shared canvas and earn rewards based on the tiles they own.
As BlackRock, the world's largest asset manager, progresses towards launching its spot bitcoin ETF, it has revealed that Jane Street, Virtu Financial, Jump Trading, and Hudson River Trading could be potential liquidity providers. Having market makers like this is crucial, as they are responsible for creating and redeeming ETF shares, thereby maintaining the product's price. This development is another step toward the fund's potential launch, with the SEC currently reviewing BlackRock's application along with others from Fidelity, ARK Invest, and more.
The US Government Accountability Office has stated that the SEC’s recent guidance on cryptocurrency accounting needs Congressional approval before being enforced. The accounting bulletin demands that firms that custody cryptocurrency list customer crypto holdings as liabilities, but has faced backlash from crypto advocates. With the GAO's ruling, Congress now has the ability to review and disapprove these rules over a 60 day period.
A new programmable, non-upgradable subscription NFT protocol has been introduced. This mechanism allows businesses to gate access to apps, content, and services for a specified time and cost. Users can mint subscription NFTs, providing recurring revenue for creators. The protocol also encourages subscriber and referral rewards, incentivizing growth and long-term commitments. Additional features include the ability for NFT contract owners to issue on-chain grants, refunds and supply caps, and also transfer ownership.
Crypto wallet company Backpack is set to launch a regulated exchange named Backpack Exchange, following its acquisition of a Virtual Asset Service Provider license from Dubai's Virtual Assets Regulatory Authority. The exchange, scheduled for a beta launch next month, will be fully rolled out by Q1 2024. The launch was made possible despite setbacks faced by the company, including a loss of $14.5 million in the FTX exchange's collapse.
This essay from Vitalik Buterin explains how the Ethereum layer 2 ecosystem is diversifying, with projects migrating from other chains to become a part of the Ethereum ecosystem. The ecosystem is witnessing an increase in projects building rollups, layer 1 projects moving towards validiums, and other new initiatives being launched. This growing heterogeneity reflects the different needs and strategic choices of various projects, particularly in striking a balance between costs, usability, and security.
This article discusses the current state of crypto applications, asserting that much of the space is focused on infrastructure while there is still sparse user demand. The author argues that applications offer true value when they provide significant improvement for users, but so far, most blockchain applications have underutilized potential. They propose focusing more on proven areas such as stablecoins and stores of value and simply experimenting at the fringes to learn what other use cases might gain traction.
Web3 and blockchain technologies are transforming how we interact with digital platforms, providing greater control and transparency. Industries like gaming and entertainment are integrating these technologies, encouraging individual ownership of assets via NFTs. Mysten Labs’ (the team behind Sui) co-founder Evan Cheng explains how these industries fit into web3 and how they might like to leverage the technology.
This article celebrates the 15th anniversary of the Bitcoin white paper and how it has influenced significant global financial change. The blueprint, first designed following the 2008 financial crisis, has not only led to Bitcoin's success so far, but has sparked the creation of a whole industry of cryptocurrencies.
Tether's Q3 report shows assets over liabilities by $3 billion, with a boost in cash reserves and a reduction in loans, further affirming its continued financial stability.
Circle is closing consumer accounts on November 30, focusing on business and institutional services, amid strategic changes and cost restructuring.
In this article, Alliance shares its regular edition of crypto/web3 startup ideas, ranging from consumer applications to decentralized infrastructure.
The UK Treasury has issued final proposals for crypto asset regulation that require firms dealing in crypto assets to be authorized by the Financial Conduct Authority. The proposals do not currently include regulation for DeFi. The Treasury is hoping these guidelines will foster growth in the UK's crypto space while managing potential consumer and stability risks.
After a community vote approving the action, Uniswap's DAO is exploring venture capital investing by potentially using part of its $1.7 billion treasury to acquire a 20% stake in Ekubo Protocol's governance tokens for $12 million. The investment in Ekubo, an AMM on Starknet founded by a former Uniswap engineer, signals a shift towards active treasury utilization by large DAOs, traditionally challenged by asset liquidation issues and issues with decision-making.
DreamOS is a new web3-native operating system that aims to improve the complex user experience within crypto. The platform includes features such as an app store for dapps called the Dream Store that aids in discovery and protection against malicious websites. It also features an omni-chain wallet interface for managing cross-chain assets. DreamOS aims to simplify and centralize various aspects of the crypto experience, including cross-chain payments and notification systems through Dream ID.
Nexus, an app created in conjunction with Neutron and Mitosis, will bring interoperability across various blockchain networks, including Celestia, Cosmos, and EVM chains. Nexus will facilitate the movement of tokens across any Hyperlane or IBC integrated chain by using Hyperlane and Cosmos IBC. It aims to enable connections between ecosystems and provide a platform for cross-ecosystem applications, allowing for greater accessibility to Cosmos assets across new markets.
This thread outlines the complexities of managing gamma exposure in the crypto market. Referring to the 'Gamma Squeeze', it notes that while dealer gamma exposure can influence price movements, constant hedging isn't the norm. It also discusses other factors to consider in hedging, such as market volatility and passive versus aggressive order placement. Notably, it suggests that the recent significant market shift was driven by both dealer gamma exposure among other factors.