• Three German computer scientists have formed a Swiss non-profit association called ZeroSync Association to bring scalability to Bitcoin using Zero-Knowledge Proofs (zk-proofs).
• The association has received sponsorship from Geometry Reaserch and StarkWare Industries.
• They have already developed a working prototype that allows users to validate who owns what and the transaction history on Bitcoin without having to download the entire chain or using a third party.
The three German scientists formed ZeroSync Association with the goal of bringing Zero-Knowledge Proofs (zk-proofs) technology to Bitcoin. The association has been sponsored by Geometry Research, a crypto investment firm, and StarkWare Industries, the software company behind StarkNet. By deploying zk-proofs on Bitcoin, nodes will be able to sync almost instantly compared to hours or days it currently takes for 500GB of data.
ZeroSync Association has already developed a working prototype that can verify consensus rules on Bitcoin without forcing users to download the entire chain or rely on third parties. Although this prototype is still chunky and needs more optimization for security and speed, if fully deployed it will allow verification of transactions through cryptographic proof instead of trusting honest nodes as suggested by Satoshi Nakamoto’s original vision.
Geometry Reaserch is a crypto investment firm while StarkWare Industries is the software company behind StarkNet that have both provided sponsorships for ZeroSync Association’s work in bringing zk-proofs technology to Bitcoin. This technology can help speed up syncing time significantly compared to the current wait times of hours or days with 500GB worth of data needing downloaded.
The use of zk-proof technology means users can validate who owns what and their transaction history without downloading the entire chain or relying on third parties for assistance. This would make verifying transactions much easier than before as well as faster since cryptographic proof would be used instead of trusting honest nodes as proposed by Satoshi Nakamoto originally when launching Bitcoin into existence.
Although there is already an existing prototype in place that has been designed by ZeroSync Association, further optimization needs done in order for it to reach its full potential in terms of security and speed capabilities when deployed onto Bitcoin’s platform. Once these optimizations are complete then everything should be ready for deployment onto Bitcoin’s platform so users can benefit from its improved syncing times due to zk-proof technology being employed rather than relying solely upon proof-of-work consensus mechanism which limits scalability somewhat within the network itself.
• Ethereum Classic and Litecoin are struggling to keep up with advancing Web3 projects, such as the new GameFi project Metacade.
• Investors are looking for higher returns and realize that tokens like MCADE may offer a stronger investment opportunity than more established projects.
• Ethereum Classic has taken steps to increase integration with Ethereum but still faces an uncertain future, with its price unlikely to reach $40 in 2023.
The Web3 space is rapidly advancing, with projects with real utility and solid use cases pushing their way towards mainstream adoption in large industries like finance and gaming. In contrast, Ethereum Classic (ETC) and Litecoin have failed to capture either a chunk of the market or the imagination of those building in Web3, leaving them struggling to keep their heads above the water as the space matures.
In light of this difficult backdrop, investors are increasingly looking for opportunities where they can maximize their investments for higher returns. The newcomer GameFi project Metacade offers just such an opportunity; its presale has been met with huge interest from investors who recognize the potential of tokens like MCADE.
Ethereum Classic (ETC) is a hard fork of the original Ethereum chain created after a hacker exploited a vulnerability that allowed them to walk away with $50 million in 2016. As a result, ETC retains many of ETH’s features but only has a tiny fraction of its support.
The project has taken steps to increase compatibility between ETC and ETH in order to broaden its use cases; however, there is no denying that ETC faces an uncertain future due to lack of widespread support— making it unlikely that the coin will reach $40 by 2023.
In conclusion, while Ethereum Classic retains some loyal supporters it will continue to face difficulties competing against more established projects within the Web3 space—making it highly unlikely that its price will reach $40 by 2023.
• HT, Huobi’s native token, crashed by 90% on Thursday from $4.6 to $0.31.
• Over $2 million HT tokens were sold on Huobi prior to the crash.
• Justin Sun, Tron’s founder and largest holder of HT tokens is an advisor to Huobi Exchange.
On Thursday, the price of HT, Huobi’s native token dropped by over 90%, dropping from $4.6 to merely $0.31 in just 10 minutes. The price has recovered since then but was still 21% down in the past 24 hours at press time according to CoinMarketCap data. Kaiko’s research analyst Riyad Carey stated that more than $2 million worth of HT tokens were sold on Huobi prior to the crash which could have caused the sudden plunge in price.
Interestingly enough, Tron’s founder Justin Sun is not only an advisor to Huobi Exchange but also holds a large amount of HT tokens and thus was affected by this incident as well. During this time when HT price crashed, TRX (Tron’s token) also fell 12% from its initial value of $0.057 to $0.066 which further proves Justin Sun’s involvement in this event and its effects on his own investments as well as other crypto investors involved with these two cryptocurrencies either directly or indirectly through their exchanges or wallets etcetera .
In response to the sudden dip in prices for both currencies, Justin Sun tweeted out saying that “Few users triggering a cascade of forced liquidations in the spot and HT contract markets… We will continue to improve the liquidity depth of main cryptocurrencies and HT token, strengthen leverage risk warnings and liquidity capabilities.“ He also added that he will create a $100 million liquidity fund for those impacted by leveraged liquidation assuring everyone who was affected that operations are safe at Huobi Exchange and there should be no cause for alarm regarding their investments being ruined due to such market occurrences that are often out of our control as traders or investors .
• Fetch.ai price was down 3% on Thursday morning after a double digit move the previous day.
• AI related tokens have outperformed in the market, particularly after global tech giants Microsoft and Google poured resources into the sector.
• Analysts say that FET could yet see a fresh leg up as AI remains one of the hottest trends in the market.
Fetch.ai price was down 3% on Thursday morning after a double digit move the previous day. Prices are likely to break lower, but analysts suggest that AI remains a strong narrative which will help FET price recover and record fresh gains similar to those witnessed in February when prices spiked by more than 70%.
AI related tokens have been performing well recently, particularly after OpenAI’s Chat GPT sparked massive hype and global tech giants including Microsoft and Google poured resources into the sector. Despite current losses, analysts still believe that FET could yet see a fresh leg up as AI remains one of the hottest trends in the market.
Data shows that on the daily chart, FET posted a breakout from a triangle pattern and bulls ran into a hurdle just above $0.48. While there’s likelihood of a distribution move, another analyst believes an uptrend is more likely trajectory for FET going forward.
Despite current losses, 96% of FET holders remain in profit due to its recent gains over the past 30 days where it has increased by 70%. This is evidence that overall sentiment towards Fetcha remains positive and investors are optimistic about its future prospects within the AI sector.
Overall, analysts remain positive about Fetcha’s future potential given its connection to one of today’s hottest trends: Artificial Intelligence (AI). Although prices may dip temporarily before recovering again, 96% of holders remain in profit indicating investor sentiment towards this token is still bullish despite current losses seen today.
• Stacks blockchain released two whitepapers today which advanced its aim of making Bitcoin a more programmable smart contract hub.
• The price of STX, the native token of the Stacks blockchain, has risen by more than 143% over the past week.
• The releases introduced sBTC that will act as a trustless two-way Bitcoin peg to allow for the swift transfer of assets to and from the Bitcoin blockchain.
Stacks is a Layer-1 blockchain solution that aims works on bringing smart contracts and decentralized applications (dApps) functionality to the Bitcoin blockchain. Today, Stacks released two whitepapers – sBTC whitepaper and stacks whitepaper – which have caused the price of STX, its native token, to surge 31.73%.
The first whitepaper release is titled „sBTC whitepaper“ introduces a newly proposed asset referred to as sBTC that will act as a trustless two-way Bitcoin peg to allow for the swift transfer of assets to and from the Bitcoin blockchain. These transactions will be secured using 100% of Bitcoin hash power and this complements Stacks 2.0 which introduced „read“ access to the Bitcoin protocol.
The second whitepaper release is titled „stacks whitepaper“. This paper adds important capabilities to enhance its power as a Bitcoin layer with changes made in order to enable trustless functionality for sBTC asset.
The releases of these two whiitpapers are major milestones for Stacks but also major boosts for the Bitcoin economy as sBTC will introduce new era apps unlocking $300B+ worth market potentials within BTC layer 1 protocols.
Stacks continues advancing its aim of making Bitcoin a more programmable smart contract hub with these two releases which have seen an increase in STX prices by 31%. With sBTC introducing trustless transfers between layers and stacks providing enhanced capabilities, it could unlock many opportunities in BTC layer 1 protocols estimated at $300B+.
• Fantom (FTM) price made a small comeback on Tuesday as investors waited for the upcoming American consumer inflation data.
• Economists expect the data to show that the country’s inflation inched downwards in January as goods prices retreated.
• The developers are also working to rebuild the network and launch a stablecoin known as fUSD that will power its ecosystem.
Fantom (FTM) price made a small comeback on Tuesday, rising to a high of $0.4780, which was a few points above this week’s low $0.4138. This price is about 30% below its highest point in 2023. Investors were waiting for the upcoming American consumer inflation data, with economists expecting the data to show that the country’s inflation inched downwards in January as goods prices retreated.
In addition to headline consumer price index (CPI), core inflation is an important number that excludes volatile food and energy prices and is expected to have dropped from 5.7% in December to 5.6%. These inflation numbers will have an important role for Fantom and other cryptocurrency prices like Bitcoin and Ethereum, impacting Federal Reserve policy decisions going forward.
The yield curve has inverted to the lowest point since the 1980s, signaling that a recession could be coming soon despite strong jobs numbers released last week by the US government. This makes it even more important for investors to pay attention to upcoming economic data releases such as today’s Consumer Price Index report due out later this afternoon or tomorrow’s Gross Domestic Product release later this week.
The news of FTM also received some boost after developers announced their plans of rebuilding their network after some challenges they faced recently; one of those projects includes launching a stablecoin known as fUSD which will power its ecosystem and make it easier for users to transact securely with one another without worrying about volatility risk associated with traditional cryptocurrencies such as Bitcoin and Ethereum .
As we await US economic fundamentals, traders remain hopeful that FTM will continue its rebound over at least short term period if not longer; however they must keep track of all major news releases related to US economy before investing any funds into FTM or any other cryptocurrency asset class because these reports can significantly impact prices either way depending on what market participants estimate them too be prior their actual release date/time .
Cryptocurrencies have had an impressive start to the new year, with Bitcoin being up nearly 40%, but Berkshire Hathaway Vice Chairman Charlie Munger is not impressed. In a recent op-ed published in the Wall Street Journal, he reiterated his stance that cryptocurrencies have no real value as they are intangible and unproductive. He also praised China for executing a full ban on crypto-related services, urging the U.S. government to do the same in order to protect investors from scams and frauds associated with cryptocurrency investments.
It is worth noting that Buffett’s business partner and one of the world’s richest men alive, Warren Buffet, shares his view on cryptocurrency as well. While many investors believe that cryptocurrency will become more mainstream over time, it appears that Munger and Buffett remain unconvinced by this notion due to their long held belief that these assets lack any real tangible value or productivity gains which can be derived from them.
In addition to praising China for its ban on crypto-related services, Munger also quoted England’s similar move back in the early 1700s when it imposed a full ban on public trading in new common stocks for about a whole century as precedence as well. He expressed concern about how some cryptocurrency promoters were able to sell large blocks of their asset at almost nothing before public buyers then purchased them at much higher prices without understanding how they were prediluted heavily in favour of said promoters beforehand.
• Yield App, a digital wealth platform, has acquired Trofi Group, a platform that offers structured solutions for cryptocurrencies.
• The acquisition brings four new structured products to the Yiled App product suite.
• Yield App CEO, Tim Frost, said that the acquisition establishes Yield App as a pioneer within the crypto-structured products arena, making them one of only a few platforms to bridge the gap between traditional finance and crypto.
Leading digital wealth platform Yield App recently announced the acquisition of Trofi Group, a platform that offers structured solutions for cryptocurrencies. The acquisition adds four new structured products to the Yield App product suite and makes Yield App one of the leading digital wealth platforms.
The team at Trofi Group brings 30 years of experience in derivatives desks at JP Morgan and HSBC, which will make an invaluable contribution to the products that Yield App will offer. Yield App CEO, Tim Frost, said that the acquisition establishes Yield App as a pioneer within the crypto-structured products arena, making them one of only a few platforms to bridge the gap between traditional finance and crypto.
The acquisition of Trofi Group will help Yield App to provide a superior suite of products to its customers. The new products will help customers to exchange and earn on their assets at market-leading rates. Yield App is excited to work with the team at Trofi Group to continue their excellent work in bringing enhanced yield structured products to the crypto space.
Yield App is confident that the addition of the Trofi Group to the platform will help to further the development of the industry, and make it easier for customers to access the products and services they need. Yield App plans to continue to build on their commitment to providing a secure and user-friendly platform for customers to store and manage their digital assets.
• Former FTX.US president Brett Harrison has raised $5 million in a seed round funding for his new crypto project for institutional investors.
• Investors who backed the project include Coinbase Ventures, Circle Ventures, SV Angel, SALT Fund, Third King Venture Capital, Motivate Venture Capital and SkyBridge Capital’s Antony Scaramucci.
• Architect is building new institutional-grade trading technology to make the crypto markets more streamlined.
Brett Harrison, the former FTX.US president, has raised $5 million in a seed round funding for his new crypto project for institutional investors. The new platform is a decentralized finance (DeFi) venture dubbed Architect, which has been in stealth development since last September. An announcement Harrison released on Friday stated that Architect had secured the $5 million investment from some of the top venture investors within the crypto space, including Coinbase Ventures and Circle Ventures. Other investors to back the former FTX.US president’s startup Architect are SALT Fund, Third King Venture Capital, Motivate Venture Capital and SV Angel. SkyBridge Capital’s Antony Scaramucci has also invested in the new crypto software project.
Architect is a decentralized finance (DeFi) venture with the aim to build trading software that will streamline the crypto markets. The platform is expected to provide a suite of tools to make it easier for institutional investors to trade digital assets. This includes features such as automated market makers, automated asset management, order routing, and algorithmic trading.
The platform will be built on the Ethereum blockchain, and it will be open source. This means that developers will be able to use the code to create their own applications and services on the platform. Architect will also be able to integrate with other DeFi protocols, providing users with greater access to financial services.
The team behind Architect consists of experienced trading professionals from the Wall Street and Silicon Valley. With their combined experience and knowledge, the team is confident that they can build a comprehensive platform that is secure, reliable and efficient.
In addition to the seed funding, Architect has also partnered with major crypto exchanges such as FTX.US and OKEx. These partnerships will allow users to access the platform with ease and trade digital assets more efficiently.
With the funds raised, Architect hopes to continue to develop its platform and launch more features to make it easier for institutional investors to trade digital assets. This includes the development of tools such as automated market makers, order routing, and algorithmic trading.
The team is confident that the platform will provide institutional investors with the tools and features they need to make better trading decisions and increase their profits. As the crypto space continues to grow, Architect is well positioned to become a leader in the DeFi space.
• The Play to Earn model became the starting point in the development of NFT gaming and created a sustainable concept – NFT games are not for fun, but for making money.
• A new branch of industry is emerging that emphasizes engagement and emotions in games, combined with the best traditions of WEB 2.0 games, and the use of NFTs.
• NFT space continues to battle user attraction and retention, and the most powerful impetus for the jump was the appearance of good Play to Earn model implementation.
The NFT direction has been a powerful force in the cryptocurrency industry for several years now. It has come a long way from its humble beginnings with funny cats to a global trend that responds to all market circumstances and user requirements. One of the most important developments in this area has been the emergence of NFT gaming. It has seen several cycles of hype, but the most powerful impetus for the jump was the appearance of a good Play to Earn model implementation. This made it possible for users to make money by completing in-game tasks, and it attracted a lot of users.
However, this model has its drawbacks. Making money during the red market is more challenging, and these games cannot offer anything interesting. As a result, players do not support P2E games since they are not fun. This has led to the emergence of a new branch of industry – one that emphasizes engagement and emotions in games, combined with the best traditions of WEB 2.0 games, and the use of NFTs.
This new approach to game development allows players to immerse themselves in addictive gameplay and unleash their creativity while engaging in the game. NFTs are the perfect tool for this, as they can be used for a variety of purposes, from tracking ownership of in-game assets to providing rewards for certain activities. This can be combined with other features such as blockchain-based betting and tokenized rewards to create a more engaging and rewarding gaming experience.
The NFT space is still battling user attraction and retention, and developers are constantly looking for new ways to make their games more engaging. However, the use of NFTs is a powerful tool to create an exciting gaming experience that encourages players to come back and keep playing. Combined with the best traditions of WEB 2.0 games, the use of NFTs can create an exciting and rewarding experience that keeps players coming back for more.