Welcome to the protocol, the weekly conclusion of Coindesk of the most important stories of the technological development of cryptocurrencies. We are Margaux Nijkerk and Sam Kessler, journalists from the Coindesk technological team.
In this issue:
- Eigenlayer finally ready to launch the missing critical function
- Rootstocklabs is preparing to release the SDKs for the 2 Bitcoin layer using BitvMX
- Inside the favorite cryptography of North Korea whitening tool: Thorchain
- The Bitcoin developer offers a difficult fork to protect BTC against quantum computer threats
This article is presented in the latest 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
Eigenlayer’s key functionality finally arrives: Eigenlayer, the replenishment protocol, shared last week that it would finally introduce its long -awaited striking functionality, marking the first “complete” version of the protocol. Slashing will allow actively validated services (AVSS) – applications built at the top of the Eigenlayer replenishment system – to penalize operators who do not meet pre -established conditions and reward those who do it. Eigenlayer was initially the pioneer of the concept of replenishment, a means for Ethereum users to secure additional protocols beyond the base layer by reducing their marked ether. Slashing was supposed to be part of this system, offering applications a way to punish bad players by entering part of their capital. Since Slashing was not part of Eigenlayer when it was initially launched in 2024, he gave way to competitors to obtain market share. Symbiotic, which allows the restart of any active, was used by early adopters of clean cheerfulness, in particular hyperlan, an interoperability framework, and Ethena, a popular synthetic dollar protocol. – Sam Kessler Learn more.
Building Bitcoin Bitcoin to come soon: One of the oldest Bitcoin ecosystem projects is to take the next step to allow developers to create layer 2 networks using their calculation layer. Rootstock is one of the many projects that is currently progressing with the aim of providing greater use and interoperability to Bitcoin, which it does by using “BitvMX”, a modified version of BitVM programming language. The Rootstocklabs project is a few weeks before the publication of software development kits (SDK), allowing developers to start producing their own Bitcoin Coseer-2 by using BitvMX, said the founder of BITVMX. SDKs are sets of tools allowing third parties to create applications using a special platform or frame. “We are about to have all the ready pieces so that people start to build their own solutions in addition to BITVMX,” said Lerner in an interview. – Jamie Crawley Learn more.
Tool for whitening the favorite cryptography of North Korea: In February, North Korea stole $ 1.4 billion in the greatest crypto. Thorchain, a network used to exchange Crypto, has become central to North Korea bleaching operations – used to fill 85% of hacking funds. Unlike some other blockchain services, Thorchain operators have refused to block transactions related to the robbery of appeal, despite the FBI requests and other government agencies. Thorchain portfolios like Asgardex and Vultisig – Tools that most people use to carry out transactions on the network – have not moved either. According to estimates by blockchain safety researchers who spoke in Coindesk, the main developers and validators of Thorchain’s portfolio – much identified and publicly based on strict anti -Délai money laundering regulations, including the United States – won more than $ 12 million in bean costs. The American Office for Control of Foreign Assets (OFAC) previously sanctioned the blockchain services used in relation to money laundering, such as the Tornado Cash mixer (which has since been canceled after a court decision) and Bitzlato, an exchange. Prosecutors also billed operators behind similar platforms. For legal experts and the cryptographic community, if Thorchain – a layer 1 blockchain – should be treated differently from these other services revive a fundamental debate faced by practically all cryptographic platforms: is the network really decentralized? – Sam Kessler Learn more.
Can Bitcoin resist quantum computers?: Bitcoin could go to its most swept cryptographic overhaul to date if a new proposal is gaining ground. A draft proposal for improving Bitcoin (BIP) entitled Quantum resistant address migration protocol (Qramp) was introduced by the developer Agustin Cruz. He describes a plan to apply a migration on the scale of the BTC network of portfolios inherited to those fixed by post-auntum cryptography. Quantum IT implies moving away from a process depending on the binary code, those and zeros, and exponentially increasing the computing power using quantum bits (qubits) which exist simultaneously in several states. Such a power jump should threaten modern computer encryption built by conventional machines. The proposal suggests that after a predetermined block height, the nodes running the updated software would reject any transaction trying to spend parts from an address using ECDSA cryptography, which could theoretically make it vulnerable to quantum attacks. – Francisco Rodrigues Learn more.
In other news
- The First Ripple (XRP) ETF was posted on Tuesday. Also on Tuesday, Ripple agreed to acquire Hidden Road, a multi-end prime brokerage company, for $ 1.25 billion, to date one of the largest mergers and acquisitions in the digital asset industry. – Will and Shaurya Malwa
- Galaxy Digital plans to redoom in Delaware and list the shares on the NASDAQ after the shareholders’ vote on May 9. The news comes a week after Galaxy, a large venture capital company, agreed to pay $ 200 million in a regulation with the New York Attorney General Office linked to the participation of the Fund in the Terra-Luna 2022 collapse.- Tom Carreras Learn more
Regulation and Policy
- China. – Pear
- The price of Bitcoin dropped below $ 77,000 on Wednesday, representing a relatively modest drop of 8% since the announcement of Donald Trump’s “Liberation Day” prices. The fears of recession did a major test for cryptographic markets, which were born from the 2008 financial crisis and did not exist thanks to a major American recession. So far, the decentralized finance sector (DEFI) has shown signs of resilience. – Oliver Knight Learn more
- The Argentina Congress launched an investigation into the balance, the presumed project of the same Pump-And-Dump promoted by President Javier Milei. The token destroyed 90% for investors and led to calls for the indictment of Mile. –Francisco Rodrigues Learn more
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