Worldcoin, the proof of humanity protocol, has recently released its audit reports, shedding light on the security issues within its data collection practices. As concerns about data privacy and protocol integrity continue to rise, two security consulting firms, Nethermind and Least Authority, were enlisted to conduct the audits. The reports offer valuable insights into the
Ethereum
After six months of trailing behind Arbitrum, the Optimism network has finally surpassed its competitor in transaction volume, according to recent data from blockchain analytics platform Artemis. Both networks, serving as layer 2 solutions for Ethereum, utilize optimistic rollup technology to streamline and consolidate transactions, potentially leading to reduced transaction fees. During season one of
Fidelity Digital Assets recently published their “Q2 2023 Signals Report,” expressing a positive outlook for Ether (ETH) in the next 12 months and the long term. While Ether has already gained 62% year-to-date, the investment firm’s bullish stance does not necessarily imply that the ongoing bullish trend will be sustained. To determine the accuracy of
ZkSync Era, a popular Ethereum layer-2 scaling solution, has recently introduced a groundbreaking proof system called Boojum. This system is based on the Scalable Transparent Argument of Knowledge (STARK) and is designed to operate on consumer-grade general processing units (GPUs). Boojum aims to enhance the efficiency and accessibility of Ethereum scaling protocols by leveraging zero-knowledge
In a significant development for the Web3 decentralized domain space, Unstoppable Domains has announced its support for .eth domain names from the Ethereum Name Service (ENS). This collaboration brings together two of the most prominent platforms in the industry, allowing users to create human-readable domain names and cryptocurrency wallet addresses. Unstoppable Domains and ENS have
CLabs, the organization responsible for the development of the Celo blockchain, is looking to reintegrate with the Ethereum ecosystem. They are planning to transition from an independent layer-1 blockchain to an Ethereum layer-2 solution. This proposal, discussed on Celo’s governance forum, suggests leveraging OP Stack as the architecture for the transition. By doing so, CLabs
Blockchain technology has seen impressive growth in recent years as businesses strive for digital transformation. According to a report by market research platform MarketsandMarkets, the global blockchain market is estimated to be worth $7.4 billion in 2022, with projected revenue of $94 billion by the end of 2027. This represents a compound annual growth rate
Geist Finance, a lending protocol operating on the Fantom network, has announced its permanent closure following substantial losses resulting from the Multichain exploit. The app’s development team made this announcement via a social media post on July 14. Geist contracts were initially paused on July 6 and then resumed on July 9, but only in
Coinbase Wallet has announced a new feature that allows users to send instant messages to each other using their Ethereum identities. The feature utilizes the Extensible Message Transport Protocol (XMTP), a blockchain-based instant messaging system also used by Lens, a decentralized social media network. According to Coinbase, select wallet users can now send messages to
The Ethereum ecosystem is witnessing the introduction of another layer-2 scaling solution with the onboarding of partners to ConsenSys’ Linea network. Linea, an Ethereum layer-2 scaling network, allows developers to create or migrate decentralized applications for Ethereum. By utilizing zero-knowledge proofs and being Ethereum Virtual Machine (EVM) equivalent, Linea enables seamless interaction between its applications
Rodeo Finance, a decentralized finance (DeFi) protocol based on Arbitrum, fell victim to an exploit that resulted in a loss of $1.53 million on July 11. The exploit took advantage of a code vulnerability in the protocol’s Oracle, leading to the theft of over 810 Ether (ETH). PeckShield, a blockchain analytics firm, shared data indicating
Blockchain-based layer-2 network, Public Goods Network, has recently launched its testnet on July 7th. The network’s developers have made a commitment to allocate the majority of net sequencer fees towards public goods rather than distributing them to the development team or token holders. This initiative aims to support the creation of goods and services that
Zero-knowledge proofs (ZK-proofs) have become a crucial technology in the crypto industry. These cryptographic methods enable one party to prove the truth of something to another party without revealing any information. ZK-proofs play a vital role in achieving blockchain scalability for Ethereum layer-2 solutions and ensuring the privacy and security of ZK transaction networks. The
Centralized exchanges (CEXs) experienced a significant surge in trading volume in June, with both spot and derivatives trading witnessing substantial growth. This increase in activity was mainly fueled by BlackRock’s exchange-traded fund (ETF) filing and regulatory actions against major crypto exchanges like Binance and Coinbase in the United States. Spot Trading Volume Spot trading activity
The Lido team has recently made accusations against its competitor, Rocket Pool, claiming that it is too centralized. Both Lido and Rocket Pool are liquid staking protocols that enable users to delegate their cryptocurrency to validators and receive derivative tokens in return. Lido’s community staking lead, Dmitry Gusakov, highlighted in a social media post that
Polygon Labs, the creator of the Polygon network, has put forward a proposed architecture for their upcoming project, Polygon 2.0. In a recent blog post on June 29, the team outlined their vision for the project, suggesting that it should consist of four distinct “layers” that would interconnect and form a network ultimately linked to
A groundbreaking web3 application called Quivr has recently been launched, allowing users to demonstrate their social credibility through the use of blockchain technology. The app’s development team made the announcement on June 27, revealing the unique features and benefits of this innovative platform. Quivr enables users to connect their accounts from various popular applications such
U.S. Treasury bonds or Treasurys are essential in all tradeable markets, including Bitcoin and Ether. The cost of capital attributed to U.S. dollars affects every loan, mortgage, and even cryptocurrency derivatives. In the worst-case scenario of the U.S. government defaulting on its debt, the lack of interest debt payments may cause a global shortage of
TrustToken temporarily suspended mints and redemptions of its TrueUSD (TUSD) stablecoin through its banking partner, Prime Trust, earlier this month. This was due to Prime Trust’s cease-and-desist order from the Financial Institutions Division of the Nevada Department of Business and Industry. However, TrustToken clarified that this does not affect its operations concerning the conversion of
Etherscan, an Ethereum block explorer and analytics platform, has launched Code Reader, a tool that uses artificial intelligence (AI) to retrieve and interpret the source code of a specific contract address. The tool generates a response via OpenAI’s large language model, providing insight into the contract’s source code files. Code Reader’s use cases include gaining
Since its inception, Ethereum has been the leading smart contract and decentralized application (DApp) network. An analysis of Ether’s price (ETH) and market capitalization shows that the blockchain has been gaining market share. In recent years, Ether’s dominance in market capitalization has grown from an 18% average in July 2021 to the current 20%. Excluding
Mihailo Bjelic, co-founder of Polygon, has proposed upgrading the Polygon proof-of-stake (PoS) network to a “zkEVM validium” version. The upgrade is aimed at increasing security by relying on zero-knowledge proofs. Polygon PoS is an Ethereum scaling solution that has over $900 million in total value locked within its contracts. It does over 2 million transactions
Blockchain technology has seen a significant advancement with the introduction of zero-knowledge proofs. However, in order to fully unlock the potential of these protocols, streamlined data availability solutions are required. Anurag Arjun, co-founder of Polygon and blockchain data availability protocol Avail, emphasized the significance of data availability for ZK-rollups in an interview with Cointelegraph. ZK-rollups
ZachXBT, a blockchain investigator, has been sued for libel by Jeffrey Huang, also known as “MachiBigBrother” on Twitter. Huang claims that ZachXBT has damaged his reputation through false allegations. ZachXBT responded to the lawsuit by calling it “baseless” and an attempt to chill free speech, pledging to fight back against it. ZachXBT is known for
Synquote, a new DeFi options platform, has launched and it is using social logins and undercollateralized trading to attract liquidity providers. This protocol is capable of handling large trades with much less slippage than previous options platforms. According to the team, the platform did over $25 million of notional volume during its beta period which
On June 13, Amazon Web Services (AWS) experienced a minor outage that lasted for about three hours. At 12:08 pm PDT, the company reported that it was “investigating increased error rates and latencies” in some parts of the United States. The outage affected many mainstream news organizations, such as the Associated Press, which were unable
Ethereum co-founder Vitalik Buterin, along with India-based crypto fund Crypto Relief and Polygon co-founder Sandeep Nailwal, have pledged $100 million towards COVID-19 research and medical infrastructure development in India. The collaboration aims to tackle the ongoing COVID-19 pandemic and prepare for future pandemics. The Donation The donation will be split between the three parties involved,