Welcome to the protocol, the weekly conclusion of Coindesk of the most important stories of the technological development of cryptocurrencies. Here is Margaux Nijkerk and Sam Kessler, the Coindesk technological team.
In this issue:
- The attempted hacking on Lido translates into 1.4 lost ether from the supplier of Oracle
- Bitcoin Defi Security improves as Rootstock increases the share of Hashrate
- The next upgrade of Ethereum “Fusaka” could reduce the costs of layer 2 and validator
- Telegram represses the cryptographic crime market of $ 8 billion
Network news
Lido avoids major security violation: Lido, the largest Liquid Ethereum ignition protocol, avoided a major security incident after one of its nine Keys Oracle was compromised in what seems to be a low impact but serious breach involving the validator of the Chorus One operator. The Lido secures more than 25% of all ether (ETH) marked out on Ethereum, making it one of the most systemic protocols of the Ethereum ecosystem. The compromise key was linked to a hot wallet used for oracle reports, leading to only 1.46 ETH ($ 4,200) in gas costs. No user funds have been affected and no wider compromise has been detected, according to Lido and Chorus One messages. – Tim Craig Learn more.
Bitcoin Defi flowering: The decentralized finance (DEFI) on the Bitcoin blockchain can always be in its infancy compared to Ethereum, but Bitcoin Defi (BTCFI) becomes safer and cheaper, the cryptographic analysis company, said Messari in a new report. A central participant is Rootstock, one of the oldest Bitcoin Layer-2 projects, said Messari, the Crypto analysis company, said in his report “State of Rootstock”. The rootstock is now ensured by 81% of the Total Hashrate of Bitcoin, which means that the miners who explain the amount that the hashrate also approves transactions on layer 2.. The figure was only 56% before the integration of the foundry and Spiderpool, respectively the largest and the sixth of the sixth row of the world, respectively in February. – Jamie Crawley Learn more.
Fusaka planning begins: After the successful deployment last week of Pectra, the biggest upgrade of Ethereum in more than a year, the main developers of the network are already concentrating towards the next upgrade of the chain: Fusaka. Pectra, the biggest code change in Ethereum since merger in 2022, has introduced key changes to facilitate the implementation of institutions, improve the accessibility of the portfolio and stimulate the efficiency of transactions. The developers have already started to plan Fusaka, the next network upgrade, and have so far agreed to include an Ethereum improvement proposal (EIP) called “Peerdas” which could help the network take care of the greater “blobs” of transaction data. – Margaux Nijkerk Learn more.
Telegram reprimands the cryptographic crime market: According to Elliptic, messaging application closed thousands of channels belonging to suspected Chinese cryptocurrency markets after new research has highlighted the situation, according to Elliptic. The closure follows a report published Tuesday by the blockchain analysis company on the market based on fast -growing telegram called Xinbi Guaran. The color incorporated in Colorado has treated more than $ 8.4 billion in transactions using the stablecoin USDT from Tether since 2022. It has been facilitating money laundering services, the exploitation of cryptographic areas and other illicit services, such as intimidation and sex traffic, according to Elliptic. – Tim Craig Learn more.
In other news
- Robinhood Markets (Hood)California -based financial services, said it agreed to buy the Canadian Cryptography Company Wonderfi (WNDR) for $ 178.98 million. The acquisition of all values values Wonderfi to 36 cents Canadian per share, a bonus of 41% compared to its closing price before the announcement. – Omkar Godbole Learn more.
- Trading platform in stock and crypto Etoro (etor) made its debut at $ 52 per share on the Nasdaq Stock Exchange. The company has raised around $ 312 million from investors by selling 6 million shares at a price of $ 52 per room. Registration values the company to $ 4.2 billion. Etoro became the first American crypto company to make public following the uncertainty of the market formulated by the pricing actions of President Donald Trump. – Helene Braun Learn more.
Regulation and Policy
- The Gibraltar Government said it was planning to establish the first rules of the world for compensation and the regulation of cryptographic derivatives, creating a regulatory framework to improve market integrity and reduce key risks. In collaboration with the Gibraltar Financial Services Commission (GFSC) and Crypto Exchange Bulish (whose owner, Bullish Group, is also the parent of Coindesk), the government has built a framework in the last six months which adapts traditional financial compensation regulations to the virtual asset market. – Jamie Crawley Learn more.
Calendar
- May 14-16: Consensus, Toronto
- May 19-23: Solana Accelerate, New York City
- May 20-22: Avalanche Summit, London
- May 27-29: Bitcoin 2025, Las Vegas
- May 27-29: Ethprague, Prague
- June 8-22: Berlin Blockchain Week, Berlin
- June 30-July 3: ETHCC, Cannes
- July 16-18: Web3 summit, Berlin
- September 22-28: Korea Blockchain Week, Seoul
- October 1-22: Token2049, Singapore
- December 11-13: Solana Breakpoint, Abu Dhabi
