Day: July 17, 2023

EU’s Data Act Still Contains Controversial Smart Contract Kill Switch, Despite Lobbying by Polygon, NEAR, Stellar, Cardano

CryptoX – Cryptocurrency Analysis and News Portal Negotiators said they had struck a deal on the controversial text on June 28, shortly after organizations linked to numerous blockchains, including Stellar, Polygon, NEAR and Cardano, expressed their concerns in an open letter, but no text has been released until now. Source The post EU’s Data Act Still Contains Controversial Smart Contract Kill Switch, Despite Lobbying by Polygon, NEAR, Stellar, Cardano appeared first on CryptoX. CryptoX Portal

ZkSync launches new STARK-based proof system with a focus on mass usability

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Ethereum layer-2 scaling solution zkSync Era has launched a new Scalable Transparent Argument of Knowledge (STARK)-based proof system called Boojum that promises to run on consumer-grade general processing units (GPUs). ZkSync Era is one of a handful of Ethereum scaling protocols using zero-knowledge rollups (ZK-rollups) to increase capacity and speed while reducing fees. ZK-rollups mostly use two prominent proof systems: zk-STARKs and Zero-Knowledge Succinct Non-Interactive Argument of Knowledge (zk-SNARKs). The new Boojum proof system is based on a Rust-based cryptographic library from zkSync that implements an upgraded version of arithmetic circuits for zkSync Era…

Philippines Blockchain Council exec sees crypto adoption ‘snowballing’

The Philippines has all the recipes for mainstream crypto and blockchain adoption according to Dr. Donald Lim, the founder of the Blockchain Council of the Philippines (BCP). In an interview with Cointelegraph, Lim shared his thoughts on the country’s potential for crypto adoption and explained why he believes blockchain projects can potentially find success within the country. BCP’s Donald Lim with Cointelegraph’s Ezra Reguerra. Source: Cointelegraph Lim told Cointelegraph that as they recognized that the world moved fast toward Web3, they organized an event called the Philippine Blockchain Week and…

SEC Launches Review of Latest Bitcoin ETF Applications

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1inch Token Surges 58% as Daily Trading Volume Spikes to 20-Month High; Investor Moves $3.7M to Binance

This creates a fragile market dynamic as market depth, a metric used to assess liquidity over a 2% spread, remains relatively low compared to trading volume. Buy-side market depth of 1inch on Binance is currently $226,272, according to CoinMarketCap. Spot sellers can capitalize on the leveraged trading activity to prompt a cascade of long position liquidations. Source

FSB finalizes its recommendations for a global crypto framework

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The Financial Stability Board (FSB) — an international organization that monitors the global financial system — has come up with a global regulatory framework for crypto. The guidelines recommended to the 20 leading economies of the world, known as the G20, are crafted upon the principle of “same activity, same risk, same regulation.” A public note and two separate guideline documents were made public on July 17. The document consists of two sets of recommendations: high-level recommendations for regulating crypto in general and “revised high-level recommendations” for a “global stablecoin.”…

BTC traders brace for $30K loss — 5 things to know in Bitcoin this week

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Bitcoin (BTC) starts a new week above $30,000 but heading nowhere as the multi-month trading range refuses to shift. BTC price action is giving traders little more than a frustrating sense of deja vu — and they are now wondering what it could take to change the trend. It may in fact be more accurate to say that on low timeframes, a trend is exactly what Bitcoin lacks. The largest cryptocurrency has spent weeks bounding between upside and downside liquidity pockets without deciding whether bulls or bears will ultimately win.…

Unstoppable Domains adds .eth domains through Ethereum Name Service

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Two of the biggest platforms powering Web3 decentralized domains are now available under one roof after Unstoppable Domains announced support for .eth domain names from the Ethereum Name Service (ENS). The two service providers have been central pillars in the Web3 domain space, allowing users to create human-readable domain names and cryptocurrency wallet addresses. Decentralized domains also act as a profile across the Web3 ecosystem, unlocking a host of functionalities. .eth is coming to Unstoppable. Unstoppable is now your one-stop shop for Web3 domains. Buy and manage your .eth, .nft, or…