Welcome to the protocol, the weekly conclusion of Coindesk of the most important stories of the technological development of cryptocurrencies. I am Margaux Nijkerk, reporter Tech & Coindesk Protocols.
In this issue:
- Vitalik Buerin’s new proposal is looking for a 16.7 million gas cap on Ethereum to brake transactions Bloat
- Jack Dorsey reveals Bitchat: offline and encrypted messaging inspired by Bitcoin
- Volkswagen ADMT Tape of Hivemapper bee cards based in Solana for driverless data
- Eigen Labs has 25% axes of staff to focus on the construction of Eigenloud
Network news
New proposal Ethereum by Vitalik Buterin: A new Ethereum proposal, co-written by Vitalik Buterin and Toni Wahrstaetter, aims to impose a hard ceiling with maximum gas that a transaction can consume in a move according to the developers could strengthen the stability of the network and make the chain more viable for certain applications. The proposal, EIP-7983, suggests limiting individual transactions to 16,777 216 gas (2²⁴) – A net change compared to the current design, which technically allows a single transaction to consume the gas allocation of an entire block. As a design choice, which introduces several performance and safety challenges. When only one transaction consumes almost all of the available gas, it disrupts the distribution of workloads on the network and tends to make the execution of blocks less effective. Thus, the proposed ceiling should simplify engineering challenges and align with the change of Ethereum to modularity, although it may require dividing large transactions. – Shaurya Malwa Learn more.
Jack Dorsey reveals the Bitchat White Paper: Jack Dorsey, founder of Twitter (now x) and Fintech company block (SQ)Published a white paper for Bitchat, a decentralized messaging protocol which allows entirely encrypted communication without the Internet. Bitchat would work on low energy Bluetooth (Wheat)allowing the nearby devices to form a network of mesh that relays Hop-by-Hop messages, according to the White Paper. When a message is sent, it was traveling through the nearby devices acting as temporary nodes until it reaches its recipient, which makes it resilient in offline or censored environments. Although he does not make explicit references to Bitcoin, the cryptocurrency or the blockchain, Dorsey describes Bitchat as a “decentralized messaging application and peer-to-peer”, evoking the connections to the intro of Bitcoin Whitepaper in which it was described as a “version between peers of electronic money”. – Jamie Crawley Learn more.
Solana Hivemapper and Volkswagen combine: Volkswagen ADMT, the subsidiary of autonomous vehicle tests from the automaker, has operated the hivemapper bee cards to support its autonomous operations with real -time map data. Street imaging collected by Bee Maps contributors using Hivemapper cameras will be used to help validate Volkswagen’s autonomous driving technology in order to stimulate the precision at the edge of the pickup and autonomous departures, said a spokesperson for Bee Maps. The agreement highlights the growing adoption of geospatial data on crowdsourced while autonomous driving sharing companies are looking for a more precise and up to date. It also presents the growth of decentralized physical infrastructure networks (Depoline)Who uses blockchain incentives for Crowdsource the collection of real world data. Hivemapper is one of the best known depolition projects of the Solana ecosystem. According to the Wall Street JournalThe Volkswagen autonomous driving unit has tested its “Robotaxi” fleet in recent months. In April, the company also announced a partnership with Uber to launch the service on the US markets, with pilot operations scheduled for the end of 2025 and a wider deployment provided for 2026. – Margaux Nijkerk Learn more.
Eigenlabs dismiss the staff in the middle of the restructuring: Eigen Labs, the main developer firm behind the Eigenlayer rest protocol, reduced its 25%workforce, losing 29 roles, because the CEO Sreeram Kannan said it had restructured the company to focus on the development of Eigencloud, which it qualified an “verifiable” alternative to existing and opaque cloud services. The startup, based in Seattle, said that layoffs were not an answer to cash. The news comes while the company has treated its fair share of flame back, not having certain key mechanisms in place when launching its main product, to the main figures of the Ethereum Foundation receive large payments for advisory roles. Eigenlayer was once one of the most buzzing projects in the crypto, reaching 20 billion dollars of total value locked in June 2024. It now has $ 12 billion. – Francisco Rodrigues Learn more.
In other news
- Digital bit (BTBT) is now the owner of more than 100,000 ether after exchanging his Bitcoin battery with a capital increase of $ 172 million for even more than the second world crypto. According to an outfit of 24,434 ETH at the end of March, Bit Digital now has some 100,603 ETH ($ 189.2 million) Make it one of the largest business ethn holders, said the company. Bit Digital revealed its plans to focus only on the milestone of ETH last month in a decision that was not entirely unexpected since the most difficult environment that Bitcoin miners have experienced since the reduction in half of last year. – Jamie Crawley Learn more.
- Media and technology group of American President Donald Trump (Nasdaq: DJT) deposited to list a negotiated fund in exchange for crypto (ETF) This would follow a selection of digital assets, the last in a series of such efforts related to the Trump brand. The “ETF Truth Social Crypto Blue Chip” would hold a portfolio of five tokens: Bitcoin, Ether, Solana, XRP and Cronos, according to a file with the SEC. Eighty-five percent of the fund’s assets would be divided between Bitcoin and Ether. Solana would represent 8%, Cronos 5%and XRP 2%. – Helene Braun Learn more.
Regulation and Policy
- The office of the US Treasury Department for Control of Foreign Assets (OFAC) The sanctions against the Tornado Cash confidentiality tool cannot be discussed during the next trial of the Roman Storm developer, judged a federal judge. At a state conference in Manhattan on Tuesday, district judge Katherine Polk Failla initially denounced if she would authorize expert witnesses to testify on the sanctions, which were imposed for the first time in August 2022, suppressed this March and later found illegal by a Texas court. After hearing the arguments of the prosecution and the defense, Failla decided to grant Storm’s request in limin Go to the prohibition of testimonies on the sanctions entirely, arguing that it would simply be too confusing that a jury does what she described as “mental gymnastics” to understand why the sanctions were imposed and ultimately abolished. – Cheyenne Ligon Learn more.
- The United States Ministry of Justice (Doj) Billed two individuals for their role in Omegapro, a program by Ponzi Crypto and Investment that has fraud investors with more than $ 650 million. Michael Shannon Sims, founder and promoter of Omegapro, and Juan Carlos Reynoso, who directed Omegapro’s operations in Latin America and certain parts of the United States, were accused of conspiracy to commit fraud by wire and money laundering, according to the documents published. Omegapro was an international investment program which collapsed in 2022. In 2024, Andreas Szakacs, co-founder of the program, was arrested in Türkiye for its involvement with Omegapro. – Parikshit Mishra Learn more.
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