Day: August 3, 2023

Optimism transactions surpass Arbitrum, but what’s behind the uptick in users?

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Optimism is a layer-2 scaling solution that operates as a separate blockchain built on top of Ethereum. Despite having a smaller total value locked (TVL) than its rivals, Optimism may still have the potential to thrive in the increasingly competitive decentralized finance (DeFi) landscape.  Being one of the pioneers in the DeFi space, Optimism initially gained an edge but had to contend with fierce competition. The project has been trailing behind other scaling solutions in terms of daily transactions for the past six months. However, in late July, the situation changed, as…

Polygon Zero accuses Matter Labs’ developers of plagiarism

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Polygon’s zero-knowledge scaling arm, Polygon Zero, is accusing developers of Matter Labs of copy-pasting “a substantial amount of source code” from its Plonky2 library, according to an announcement on Aug. 3. The alleged plagiarized code was found on zkSync, a competitor layer-2 scaling solution for Ethereum powered by zero-knowledge technology. Matter Labs is the developer of the zkSync ecosystem. According to Polygon Zero, Matter Labs recently released a proving system called Boojum with lots of code copy-pasted from critical components of its recursive SNARK Plonky2. A recursive SNARK is a cryptographic proof…

Shiba Inu DeFi Aspirations May Rattle DOGE’s Market As SHIB Turns To Digital IDs

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Initially tagged as a meme coin, Shiba Inu has been reinventing itself, aiming to break away from its meme coin status and step into the league of serious Decentralized Finance (DeFi) contenders, according to a new report. A key step towards this transformation involves an innovation that is about to reshape the Shiba Inu ecosystem: Digital Identity Verification. Embracing Digital Identity In The Shiba Inu Ecosystem In a push to improve the platform’s credibility among users and governmental entities, the Shiba Inu project is said to integrate Digital Identity Verification…

Curve Offers Hackers 10% Bounty in Exchange for Return of Crypto

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“You will have no risk of us pursuing this further, no risk of law enforcement issues, etc,” Curve, Metronome and Alchemix wrote in an on-chain message sent to a hacker’s Ethereum address. The trio gave a deadline of August 6 at 0800 UTC, at which point their bounty will become a vigilante payout to whomever provides information that leads to the hacker’s arrest and conviction. Source

Futureverse co-founders launch $50M venture fund

Shara Senderoff and Aaron McDonald, co-founders of artificial intelligence and metaverse company Futureverse, have launched a new $50 million venture fund and studio. According to an Aug. 3 announcement, the fund is dubbed “Born Ready” and will invest in emerging technology ventures possessing collaboration potential with either Futureverse or metaverse blockchain The Root Network. The co-founders say Born Ready has already invested in firms such as FCTRY Lab, Power’d Digital, Polemos and Walker Labs. Senderoff previously founded Raised in Space, a blockchain venture fund that has invested in over 20…

Polygon Claims Matter Labs Copied Its Code Without Attribution

Blockchain projects frequently release their code under open-source software licenses, meaning outside developers are allowed to read, copy, and even (in some cases) contribute to a company’s original codebase. However, community norms – and most open-source licenses – generally require that third-party developers acknowledge when they’ve used code that originated elsewhere. Source

Could a Bitcoin bull run be triggered by Fitch’s US credit rating downgrade?

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On Aug. 1 a significant event occurred within the financial world: Fitch, a reputable credit rating agency, demoted the credit rating of the U.S. government from the pristine AAA to AA+. This downgrade signaled diminished confidence in the U.S. government’s ability to handle its fiscal responsibilities effectively. The downgrade nudged investors into a cautious stance, leading many to move their money out of assets like stocks, silver, oil and long-term bonds. Instead, they favored cash and short-term instruments which are perceived as safer options in uncertain times. S&P 500 futures…

Binance CEO Shares Details Of $20 Million Scam Attempt

Binance CEO, Changpeng ‘CZ’ Zhao has recently provided details on a failed $20 million scam attempt in a bid to keep the crypto community on alert for future occurrences. Crypto Scammers Are “So Good Now,” Binance CEO Says In a tweet on August 2, Changpeng Zhao described a recent scam attempt as “clever,” stating that it was “luckily” prevented as the bad actors in the crypto space seem to have gotten better.  Related Reading: Curve DAO (CRV) Price Recovery Post-Exploit: What Would Be A Realistic Scenario? Specifically, the Binance CEO drew…