Blockchain
Protocol Village: Cryptocurrency Losses from Hacks and Rug Pulls Double to $572 Million in Q2: Immunefi Report
June 27: Immunitya crowdsourced on-chain security platform, has released its “Crypto Losses in Q2 2024” report, which shows a loss of $572 million due to hacks and rug pulls in Q2 2024, a 112% increase from the same period in 2023. According to the team: “This brings total losses to over $920 million year-to-date, with May 2024 seeing the highest monthly losses of $358 million. CeFi was the top target of successful exploits with 70%, compared to DeFi with 30% of total losses in the second quarter.”
Tezos, the Smart Contract Blockchain Popular for ICOs, Reveals “X” Roadmap with “Canonical Rollup”
June 27: The developer teams behind the Tezos blockchain revealed”Tezos,” a series of technology updates that they say could bring “a huge boost in performance, composability and interoperability.” roadmap, which lays out a development plan for the next two years, calls for splitting transaction execution into a separate “canonical rollup” that would support “atomic transactions across smart contracts written in different programming languages.” The main Tezos blockchain would serve as the base layer for consensus and transaction. (XTZ)
REDACTED, Web3’s ‘Entertainment Datasphere’ build raises $10M
June 27: DRAWN UPbuilding an ecosystem of products to form an “entertainment datasphere,” has raised $10 million in funding, co-led by Spartan Group with Saison Capital, Animoca Brands, Polygon Ventures Web3 founders, VCs, angel investors and whales like Dingaling and Grail, according to the squad: “REDACTED’s data protocol improves entertainment and gamification products, delivering better, more targeted experiences.”
SCrypt, Web3 Development Platform, Launches UTXO Blockchain Toolkit
June 27: Scripta full-stack Web3/blockchain development platform, has announced the launch of a developer toolkit designed for Unspent Transaction Output (UTXO) blockchains. According to the team: “UTXO is the method used by the Bitcoin protocol to track balances as they move between digital wallets. The UTXO model is essential to maintaining the security and integrity of blockchain networks and solves the problem of double spending… Xiaohui Liu, founder and CEO of sCrypt, said: “Historically, Web3 applications have been largely developed on account-based blockchains such as Ethereum and Solana. Ordinals have reported a renewed interest in Bitcoin blockchain and UTXO development.” The sCrypt platform provides comprehensive toolkits such as Software Development Kit (SDK) and Application Programming Interface (API) that allow developers to seamlessly integrate UTXO blockchains into their applications. The platform will also integrate a large ecosystem of JavaScript/TypeScript developers, estimated at 13 million globally.”
Rebar Labs Raises $2.9M to Build ‘MEV-Aware’ Infrastructure for Bitcoin
June 27: Armor workshopswhich has created “MEV-aware infrastructure, products, and research” for Bitcoin, has raised $2.9 million in seed funding, according to the team: “Led by 6th Man Ventures, with participation from ParaFi Capital, Arca, Moonrock Capital, and UTXO Management, the company aims to address MEV challenges in the growing Bitcoin ecosystem. With the emergence of new protocols such as BRC-20, Runes, L2, and rollup, MEV strategies similar to early Ethereum DeFi are appearing on Bitcoin. Rebar Labs is developing solutions to ensure fair value distribution, enable efficient markets, and improve user and miner experiences in the Bitcoin ecosystem.”
BVNK Launches ‘Layer1’, a Self-Custody Infrastructure for Stablecoin Payments
June 27: BVNK he threw Level 1a self-custodial infrastructure for stablecoin payments, “enabling fintechs to quickly enter the market while ensuring data privacy,” according to the team: “Layer1 simplifies blockchain payment infrastructure by managing wallet and asset management, reconciliation and third-party integrations. Self-custodial infrastructure allows companies to integrate digital asset payments with less than 200 lines of code in just weeks.”
Chainlink Data Streams launches on Avalanche, used by Decentralized Perps Exchange GMX
June 27: Chainlink data streams has officially launched on Avalanche, with GMX as the launch partner using Data Streams to power its decentralized perpetual exchange, according to the team: “By providing high-frequency market data via a robust, decentralized infrastructure, Data Streams enables high-throughput DeFi products to create a seamless user experience comparable to that of CEXs, while offering on-chain execution speed unprecedented and field-proven security infrastructure.” (CONNECTION)
Validation Infrastructure Provider SSV Extends Incentivized Mainnet Program Through December
June 27: Validation Infrastructure Provider SSV Network revised its incentivized mainnet program (IMP) after a successful decentralized governance vote, according to the team: “Key updates include extending the program to December 2024, restructuring reward tiers, and excluding SAFE multisig wallets from eligibility. The new tiered rewards system offers significant APR boosts to early validators, improving incentives for participation. The revisions aim to maximize rewards, encourage validator engagement and address previous limitations of the program.”
Cobo Launches “Portal” for Businesses, Featuring an “All-in-One Wallet Platform”
June 27: Cobo, a cryptocurrency custody and wallet infrastructure provider, launched “Cobo Portal, a unique platform that simplifies the process for businesses to build on highly scalable wallet infrastructure and manage their digital assets seamlessly,” according to the team. Features include: “1. All-in-one wallet platform with custodial wallets, MPC wallets, Smart Contract wallets, Exchange wallets. 2. Advanced risk control: customizable user roles, on-chain and off-chain transaction policies, governance, approval workflows. 3. Seamless development environment: Documentation and support in all popular programming languages, blockchain developers can quickly integrate Cobo’s WaaS (API and SDK).
Dfinity Foundation Launches ‘UTOPIA’ for ‘Sensitive Sectors’ Like Defense with ‘Serverless On-Chain Cloud’
June 27: DFINITY Foundationa major contributor to the Internet Computer Protocol (ICP) while also working on decentralized artificial intelligence, announced the launch of “UTOPIA, aimed at addressing the $10 trillion global cybersecurity problem, through on-chain serverless cloud that offer unprecedented operational resilience and security,” according to the team: “This technology is critical for sensitive and high-risk sectors such as defense, utilities and financial services, ensuring unbreakable security and 100% digital sovereignty.”
Interoperability Project Wanchain Launches Token Bridge for Polkadot Relay Chain
June 27: WanchainA Level 1 proof-of-stake blockchain focused on interoperability, launched a token bridge between the Polkadot Relay Chain and the Cardano blockchain network, according to the team: “Despite the hype about the need for a bridge circulating in both communities, Wanchain is the first to successfully connect Polkadot and Cardano, accessible via the Wanchain Bridge web portal. Temujin Louie, CEO of Wanchain, said: “Wanchain believes in the need for interoperability between all networks, not just EVMs. We expect this initial implementation to lead to further developments, such as cross-chain function calls between two non-EVM networks.” (ADA) (POINT)
Theta Network Expands EdgeCloud Computing Platform
June 27: Theta Network is expanding its EdgeCloud computing platform, according to the team: “The new Elite Booster feature allows users to earn TFUEL and partner TNT-20 tokens for running AI GPU tasks, according to the team: “Theta EdgeCloud is the first hybrid computing platform for AI, video, and rendering applications. It is powered by over 30,000 distributed edge nodes and Theta Edge Network cloud partners, including Google Cloud and Amazon Web Services. The decentralized mesh network provides over 80 PetaFLOPS of always-available distributed GPU computing power.”
Worldcoin will collaborate with Alchemy for the infrastructure of the new World Chain
June 27: World currency announced that it is partnering with Alchemy to provide a trusted infrastructure for World Chain, a new blockchain designed for humans, according to the team: “By partnering with Alchemy, World Chain developers will have immediate access to a full-featured Web3 development platform, including both core and data APIs, indexing solutions, and a host of other tools developers need to power their apps. Alchemy will also integrate World ID into its toolset and promote it as a core element of the Web3 infrastructure, offering seamless World ID access to millions of developers around the world.”
Rarimo’s Worldcoin alternative, RariMe, is available
June 27: Rare introduced RariMe, a Worldcoin competitor, and an app that allows users to generate passport zero-knowledge (ZK) proofs verifying their uniqueness without revealing their identity, The company announced Thursday. Unlike Worldcoin which uses spheres to scan eyeballs, Rarimo uses smartphones to scan passports and verify its users. Identification frameworks usually have third-party approved credentials, but ZKs ensure that no personal data is shared during identity verification.
Superchain Network and Anyone Protocol Form Privacy Management Partnership
June 27: Superchain network and Everyone Protocol have joined forces to revolutionize privacy management in decentralized environments, according to the team: “Leveraging Anyone Protocol’s DePIN ‘Anon’ network and Superchain Network’s actionable data, this partnership delivers unmatched security, privacy, speed and data sovereignty. It addresses critical privacy issues in the crypto space, where current data providers expose customers to attempts to record and infer metadata, posing significant privacy risks and compromising corporate confidentiality.”
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