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Rollkit Developers Leverage Bitcoin for Sovereign Rollups, Sparking Criticism from Ethereum Proponents

Rollkit Developers Leverage Bitcoin for Sovereign Rollups, Sparking Criticism from Ethereum ProponentsThe Rollkit development team has announced that Bitcoin has been integrated as a means for sovereign rollups to store and retrieve data. The developers have stated that it is now possible to run the Ethereum Virtual Machine (EVM) on Bitcoin as a sovereign rollup. However, some Ethereum proponents have expressed dissatisfaction with the technology being […]

Zimbabwe Devalues Gold-Backed Currency by 44%

Altcoin Backed by Bitcoin Billionaires Surges 35% As Crypto Project’s ‘Groundbreaking’ Update Nears

Altcoin Backed by Bitcoin Billionaires Surges 35% As Crypto Project’s ‘Groundbreaking’ Update Nears

An altcoin backed by a pair of famous Bitcoin (BTC) billionaires is surging as the crypto project’s upgrade rapidly approaches. New data reveals that storage-focused blockchain Filecoin (FIL), which is backed by the Winklevoss twins, is skyrocketing as the protocol’s groundbreaking update looms. Filecoin climbed from a 24-hour low of $5.40 to $7.77, an increase […]

The post Altcoin Backed by Bitcoin Billionaires Surges 35% As Crypto Project’s ‘Groundbreaking’ Update Nears appeared first on The Daily Hodl.

Zimbabwe Devalues Gold-Backed Currency by 44%

Polygon (MATIC) Is Poised to Outperform Bitcoin, Says Crypto Analyst – Here’s the Timeline

Polygon (MATIC) Is Poised to Outperform Bitcoin, Says Crypto Analyst – Here’s the Timeline

A widely followed analyst says that the Ethereum (ETH) layer-2 scaling solution Polygon (MATIC) is setting the stage to outperform king crypto Bitcoin (BTC). Pseudonymous crypto analyst Pentoshi tells his 675,500 Twitter followers that a key upgrade to the Polygon blockchain project will send its price soaring. Polygon Labs announced that on March 27th it will […]

The post Polygon (MATIC) Is Poised to Outperform Bitcoin, Says Crypto Analyst – Here’s the Timeline appeared first on The Daily Hodl.

Zimbabwe Devalues Gold-Backed Currency by 44%

Optimism Plans to Enhance L2 Scaling Network With ‘Bedrock’ Upgrade in March 

Optimism Plans to Enhance L2 Scaling Network With ‘Bedrock’ Upgrade in March The Ethereum scaling network Optimism, which operates as a layer two (L2) network, announced plans to upgrade its network in March. The upgrade, named “Bedrock,” aims to increase transfer speed, lower fees, and enhance compatibility with the Ethereum Virtual Machine (EVM). The Optimism Foundation stated in its proposal, “The Bedrock upgrade is a major step […]

Zimbabwe Devalues Gold-Backed Currency by 44%

StarkNet makes Cairo 1.0 open source in first step toward community control

StarkNet has prioritized scalability over composability and transparency. But it’s now working on making its tech open source.

Zero-knowledge (ZK)-Rollup tech company StarkWare has officially open sourced its new programming language compiler, Cairo 1.0, which will soon be supported on Ethereum layer-2 scaling solution StarkNet in Q1 2023. 

The news was announced by StarkWare — the company behind StarkNet — in a Nov. 25 Twitter post. StarkWare’s rollup technology and recursive proofs offer the potential to compress millions of transactions on L2 into a single transaction on Ethereum, however the project has been criticized for maintaining control over its IP, not least of all by its more open source focused competitor zkSync.

StarkWare described open sourcing Cairo as a “milestone move” in its quest to hand over more control and intellectual property rights to its community and developers. Cairo is a programming language written specifically to harness the power of zk rollups and validity proofs.

StarkWare stated that developers can now experiment with Cairo 1.0 by compiling and executing simple applications until it is fully supported on StarkNet in Q1 2023.

At that point Cairo 1.0 will enable faster feature development and allow for more community involvement, according to Starkware Exploration Lead and former Ethereum core developer Abdelhamid Bakhta.

“We’re continuing to open source the StarkNet tech stack, beginning with Cairo 1.0. We’re doing this in order to fulfill StarkNet's vision as a public good that anyone can use, and that the community can constantly improve,” he said.

“On a practical level this maximizes transparency about our code, and our coding process. And it strengthens the community’s ability to find bugs and improve the compiler. With each aspect of the tech stack that is open sourced, this sense of community involvement will grow and grow.”

Once in production, Cairo 1.0 will also enable blockchain developers to write and deploy smart contracts to StarkNet, according to StarkWare’s Medium post.

StarkWare added that because Cairo 1.0 makes every computation “provable,” StarkNet’s censorship resistance properties will be strengthened and it’ll also be better positioned to respond to Denial-of-Service attacks.

StarkWare’s STARK tech stack powers a number of Web3 projects including decentralized exchange (DEX) platform dYdX (although this is moving to its own chain on Cosmos), NFT-platform Immutable X and blockchain interoperability protocol Celer Network.

Related: 60 million NFTs could be minted in a single transaction — StarkWare co-founder

StarkNet has taken a gamble by using Cairo to speed up its solution, which is not natively compatible with the Ethereum Virtual Machine (EVM). However Ethereum software tooling firm Nethermind built a transpiler called Warp that converts Solidity code into Cairo code.

Competitor zkSync’s EVM-compatible mainnet is in the process of being launched.

But despite taking a more difficult path, StarkWare founder Eli Ben-Sasson recently told Cointelegraph that using custom built programming language like Cairo, as opposed to Solidity, was the only viable way to take full advantage of Ethereum scaling afforded by ZK rollups:

“I’m willing to bet that you won’t see a full blown ZK EVM that can put a million transactions inside a single proof on Ethereum. As we can easily do today and have been doing for months and years.”

The news comes as Starkware also recently deployed the new StarkNet token (STRK) on Ethereum on Nov. 17, which will be used for staking and voting purposes in addition to paying fees on the network.

Zimbabwe Devalues Gold-Backed Currency by 44%

Ethereum-Compatible Sidechain Could Be Very Bullish for XRP, According to Coin Bureau – Here’s Why

Ethereum-Compatible Sidechain Could Be Very Bullish for XRP, According to Coin Bureau – Here’s Why

Ripple’s new push to develop a sidechain on the XRP Ledger (XRPL) could be “very bullish” for XRP, according to a popular crypto analyst. The San Francisco payments firm said in a blog post earlier this month that blockchain development company Peersyst Technology is currently testing an Ethereum Virtual Machine (EVM) compatible sidechain for the […]

The post Ethereum-Compatible Sidechain Could Be Very Bullish for XRP, According to Coin Bureau – Here’s Why appeared first on The Daily Hodl.

Zimbabwe Devalues Gold-Backed Currency by 44%

Ripple wants to bring Ethereum smart contracts to the XRP Ledger

The EVM-compatible XRP Ledger sidechain is set to undergo its second phase in early 2023, which will make the chain permissionless and improve scalability.

Ripple users may be able to interact with Ethereum-compatible decentralized applications (DApps) in the future following the launch of a test phase of Ripple’s new XRP (XRP) Ledger sidechain.

The launch of the sidechain was shared in a Tweet by blockchain development firm Peersyst Technologies on Oct. 17, noting that the new sidechain is compatible with Ethereum Virtual Machine (EVM).

This means that Ripple users could eventually have access to DApps like Uniswap (should it port over) and Web3 wallets such as MetaMask and XUMM Wallet.

The new sidechain also comes with a cross-chain bridge built to transfer XRP and other assets between the EVM-supported sidechain and the XRP Ledger Devnet.

According to RippleX software engineer Mayukha Vadari, the release “means developers no longer have to choose between XRPL or EVM-compatible blockchains.”

Developers will also be able to access XRPL’s fast low-cost transactions and bring Solidity-based smart contracts onto XRPL, he said.

The XRP-based EVM-compatible sidechain was custom-built by the Tendermint protocol and aims to process 1000 transactions per second (TPS).

Vadari noted that the first phase of the EVM sidechain is now currently available for testing on the XRPL Devnet. Phase two will see the EVM-compatible sidechain transition to a “permissionless” chain with improved scalability.

Vadari said the aim is to achieve block times similar to that of the XRP Ledger for the second phase, which looks set to roll out in early 2023.

“The end goal is phase three: a permissionless EVM sidechain and bridge available on the XRPL Mainnet,” she added.

Related: Evolve or die: How smart contracts are shifting the crypto sector’s balance of power

The news didn’t appear to affect the price of Ripple’s XRP token too much, which is currently priced at $0.476 and is up 23.86% for the month.

The latest announcement comes amid a nearly two-year-long lawsuit against Ripple by the U.S. Securities Exchange Commission (SEC), which has arguably affected the adoption and development of the global settlement network.

Ripple also continues to make moves in the central bank digital currency (CBDC) space since it first piloted a CBDC Private Ledger for banks in March 2021, having most recently partnered with The Royal Monetary Authority of Bhutan in Sept. 2022.

Zimbabwe Devalues Gold-Backed Currency by 44%

Two Ethereum-Based Altcoins Jump After Crypto Exchange Coinbase Announces Support

Two Ethereum-Based Altcoins Jump After Crypto Exchange Coinbase Announces Support

Leading US crypto exchange Coinbase is officially rolling out trading services for two digital assets that were recently added to its listing roadmap. In a new announcement, Coinbase says that Aurora (AURORA) will be available accompanied by the “Experimental” label, which the exchange applies to “assets that are either new to our platform or have […]

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Zimbabwe Devalues Gold-Backed Currency by 44%

Researchers From Stanford University Working on New Privacy-Focused Blockchain

Cryptography researchers from Stanford University are developing a new privacy-focused layer-1 blockchain. According to a new press release, the Espresso Systems project aims to build a blockchain combining “proof-of-stake consensus and a [Zero-Knowledge]-Rollup mechanism to achieve high throughput and low fees.” Espresso Systems has already raised $32 million in funding led by Greylock Partners and […]

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Zimbabwe Devalues Gold-Backed Currency by 44%

Small-Cap Ethereum Rival Rallies 120% In Less Than a Week As Altcoins Bounce Back

A low-cap Ethereum rival is suddenly making big moves as altcoins and the broader crypto markets begin to show signs of life. Telos is an EVM (Ethereum Virtual Machine) – compatible blockchain built on top of the EOS.IO network that boasts 10,000 transactions per second. The Telos EVM aims to be a scalable solution for […]

The post Small-Cap Ethereum Rival Rallies 120% In Less Than a Week As Altcoins Bounce Back appeared first on The Daily Hodl.

Zimbabwe Devalues Gold-Backed Currency by 44%