Welcome to the protocol, the weekly conclusion of Coindesk of the most important stories of the technological development of cryptocurrencies. I am Ben Schiller, the opinion of Coindesk and the publisher of features.
In this issue:
- Cheerleader Wall Street from Ethereum
- Avalanche reduces the costs of 75%
- Arbitrum integrates bitcoin
- UBS Test Zksync for gold
This article is presented in the last issue of The protocol, our weekly newsletter exploring technology behind the crypto, one block at a time. Register here To get it in your reception box every Wednesday.
Network news
Guy de Wall Street d’Ethereum: Ethereum faces an identity crisis. Its native token, Ether (ETH), is underperforming against competitors, and longtime manufacturers are starting to wonder if channel technology is late – and its community loses. The Ethereum Foundation, the non -profit organization that generates the development of Ethereum, has been blamed for many network difficulties. The co-founder Vitalik Buterin is the spearhead of a massive upheaval of leadership in the organization, but its central influence on the process triggered its own controversy. Meanwhile, rival ecosystems like Solana capitalize on uncertainty, attracting the best talents and exceeding ETH on the market. In the middle of this turbulence, a new project, Ethealalize, aims to bring ETH to Wall Street. Founded by the former Banker Vivek Raman, Etherealize seeks to fill the gap between traditional finance and Ethereum, positioning ETH as a serious class of assets. Raman, who spent a decade in banking services before discovering the crypto, thinks that his experience in traditional finance gives him a unique perspective. He has spent the last four years laying the foundations for etherealize, choosing to get started in January – an increased period of market motivated by the expectations of a cryptographic friendly white house, even if Ethereum has grapples with internal disputes and price stagnation. In an interview with Margaux Nijkerk from Coindesk, Raman tells how he came to create Etherealize, how this group markets ETH to Wall Street and discusses the opinions of banks on layer rollers. Find out more.
Avalanche reduces user costs: The cost of using Avalanche, an intelligent contract with an intelligent contract focused on DEFI, has dropped since the implementation of the avalanche9000 upgrade on December 16, sending the number of transactions of more than a third party. Since the upgrade, the costs of using the blockchain of the proof of assistance called gas have on average about 75% less than in the months before, the Flipside and Bitquery data appeared. The number of transactions increased by 38% to reach an average of 354,691 per day. Avalanche, the fifth largest blockchain with an intelligent contract in the world by the market value of its native token, boasts of a multi-chain structure of C, which manages intelligent contracts, the P channel for coordination management and coordination of the validator and the X chain for treatment of asset transfers. The upgrade included seven improvement proposals, including ACP-125, which lowered the basic costs to execute intelligent contracts on chain C to 1 Navax of 25 Navax. A Navax is a billionth of an Avax. The upgrade has also replaced the high validator costs of 2,000 AVAX with a monthly subscription of 1 to 10 AVAX, opening doors for projects of all sizes to introduce layer 1 (L1) protocols on avalanche. The objective of upgrading was to make each component of the cheaper avalanche technical battery by reducing C chain costs and removing capital requirements for L1 validators, told Stephen Buttolph, Chief architect of the Ava Labs protocol, in Decrypt in November. Learn more.
Teste UBS ZKSYNC: The Swiss banking giant UBS said that it had completed proof of concept of its UBS gold gold offer on the Ethereum Layer-2 ZKSYNC network. The simulation, which was carried out on a Zksync test network, is a sign of renewed interest in blockchain technology among traditional financial institutions. This is not UBS’s first experience with the blockchain. The bank had previously launched an investment fund on the money market in Tokenized, Umint, which is also built on Ethereum. UBS gold Key4 is one of the banks of the bank that allows its Swiss customers to buy a direct complaint with physical gold. “It allows fractional investments in gold with real -time prices, deep liquidity, secure physical storage and optional physical delivery,” the team said in a press release shared with Coindesk. The project already exists on the private blockchain of the bank, the UBS Gold Network, but the team was looking for ways to develop its project while preserving its privacy. “They came to the conclusion that only zero knowledge made sense for them, and they therefore really wanted to put this into practice for a product they already have live and what it might look if they use validium to The place “, Pearl Imbach, a main business development director at Matter Labs, the main developer firm behind Zksync, told Coindesk in an interview. ZKSYNC is a zero knowledge roll, a type of layer of the layer of the layer A validum is a different type of layer-2, similar to that of a roller, but stores the data of these off-chain transactions. The test transaction may point out that UBS could further examine the use of layer 2 technologies to supply some of its activities. However, the bank did not say if they would come out with their own layer 2, and Imbach from Matter Labs told Coindesk that a Rollup may not be adapted to them. “Is it the right product [for UBS]? Perhaps not, but that’s something we are talking about openly and thinking about what could be a good use for them, “Imbach told Coindesk. Learn more.
Arbitrum brings BTC: Arbitrum, one of the main layer 2 networks, announced a new integration with Bitcoin via Bitcoinos, an intelligent contract system for the main crypto. Integration allows a “hybrid roller” providing more means to Bitcoin holders to interact with Ethereum. “The integration of Bitcoinos with Arbitrum shows how our technology can support the innovative expansion of the Bitcoin ecosystem,” said Nina Rong, head of partnerships at the Arbitrum Foundation. “This collaboration highlights arbitrum’s ability to allow bridging and programmability without confidence for Bitcoin, while retaining the main safety principles of the network. We are delighted to see Bitcoinos take advantage of our network to unlock the pool of Bitcoin liquidity of $ 2 billion for contractual and intelligent contractual applications. ” Arbitrum already has the highest TVL of all Ethereum L2 (approximately $ 16 billion) as well as 8,333 wrapped bitcoin (WBTC).
Monetary center
Top cats
- Tapoot wizards will use $ 30 million in new funding to create an application ecosystem using the Bitcoin OP_Cat improvement proposal, an Ethereum intelligent contract for Bitcoin.
Bitcoin Ransom Down Payments
- The ransom volume paid in Bitcoin falls while more victims refuse to pay, said Chainalysis.
Regulation and Policy
- The legislation on the new stable arrives in the American Senate, the first of the many expected crypto bills which should be tabled in the coming weeks. Tennessee’s Senator Hagerty’s bill shares the responsibility for the surveillance of stable issuers between states and the federal government.
