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Scammers promote fake Uniswap L2 on Google amid Unichain hype

Google mistakenly promoted a fake version of the Unichain website that spammed users with requests to drain their wallets.

As the buzz around crypto exchange Uniswap’s new Ethereum layer 2 builds, scammers have decided to take advantage of the situation to promote a fake website on Google that claims to promote the network.

The website, originally located at unlchalindefi[.]com, claimed to be the official site for Uniswap’s Unichain network. But in reality, it did not offer a new network with user-friendly apps.

Instead, it stole all of the user’s cryptocurrency and transferred it to the site’s developers, who were not affiliated with Uniswap at all, according to warnings presented in the Web3 wallet MetaMask.

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Bitcoin Price Analysis: Bulls Fight for Control as Bears Threaten a Massive Sell-Off

Gate Ventures, Movement Labs, Boon Ventures to launch $20M crypto fund

The fund will support protocols targeting the Move programming language and interoperability with the Ethereum ecosystem. 

Venture capital firms Gate Ventures and Boon Ventures announced a partnership with Movement Labs for a new $20 million fund dedicated to Web3 startups. 

According to an Oct. 13 announcement, the fund targets the development of Move-based protocols, especially projects bridging the Move network with Ethereum-compatible (EVM) applications. 

“The fund will invest across a range of Web3 verticals within the Move ecosystem,” a spokesperson for Gate Ventures, the investment arm of crypto exchange Gate.io, told Cointelegraph.

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Bitcoin Price Analysis: Bulls Fight for Control as Bears Threaten a Massive Sell-Off

Scroll lists on Binance, sparking debate over centralization concerns

Scroll’s Binance listing has sparked community debate, with critics raising concerns about centralization, while Scroll’s co-founder has highlighted global growth strategies.

Scroll, an Ethereum layer-2 project, was recently listed on the centralized cryptocurrency exchange Binance, sparking debate in the crypto community about centralization.

The listing, announced on Oct. 11, was praised for its potential to boost growth but criticized for its perceived alignment with centralized entities. Concerns were raised about whether the project was compromising on its decentralization principles.

X user Zeng Jiajun framed Scroll’s decision to list on Binance as “kneeling” to a centralized exchange (CEX), calling it a “tough decision to make” but casting doubt on the long-term implications.

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Bitcoin Price Analysis: Bulls Fight for Control as Bears Threaten a Massive Sell-Off

Uniswap (UNI) books 25% weekly gain leading into Unichain launch

UNI defies the marketwide sell-off by posting a 10%+ gain after the launch of Unichain.

UNI, the governance token of the Uniswap decentralized exchange, outperformed the crypto market on Oct. 10, posting a 15% daily gain following the launch of its own layer-2 network, Unichain. The price of UNI is up 25% over the last week and 23% in the past 30 days. 

UNI/USD daily chart. Source: TradingView

UNI’s trading volume has increased 418% on the day to $583.2 million. With a market capitalization of $5 billion, UNI has claimed the 20th position on the CoinMarketCap ranking.

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Bitcoin Price Analysis: Bulls Fight for Control as Bears Threaten a Massive Sell-Off

Gomining Launches Foundation to Drive Innovation in Bitcoin L1 and L2 Projects

Gomining Launches Foundation to Drive Innovation in Bitcoin L1 and L2 ProjectsThe GoBTC Foundation, established by Gomining, has been officially launched to strengthen Bitcoin’s onchain ecosystem. The foundation’s creation aims to support initiatives that foster greater transaction activity and ecosystem growth. Foundation Established to Foster Bitcoin’s Infrastructure Growth Gomining states that the GoBTC Foundation operates as a vertically integrated entity, focusing on Bitcoin’s layer one (L1) […]

Bitcoin Price Analysis: Bulls Fight for Control as Bears Threaten a Massive Sell-Off

Risc Zero aims to bring blockchain security to ‘any’ off-chain app

Next-gen zero-knowledge proofs are “orders of magnitude” cheaper than existing options, Risc said.

Risc Zero is preparing to launch a service designed to use zero-knowledge (ZK) proofs to bring blockchain security to any off-chain application, according to a Sept. 16 announcement.

Called ‘Boundless’, the service seeks to resolve blockchain’s most vexing scalability challenges — including limits to transaction throughput and cross-chain interoperability— by “bypassing traditional onchain execution limits” with ZK proofs, Risc said.

Boundless is the latest in a proliferation of potential solutions to blockchain’s scalability constraints, which contribute to higher costs and slower execution times for transactions.

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Bitcoin Price Analysis: Bulls Fight for Control as Bears Threaten a Massive Sell-Off

Vitalik Buterin Says He Will Only Promote Sufficiently Decentralized Ethereum Layer-2s Starting in 2025

Vitalik Buterin Says He Will Only Promote Sufficiently Decentralized Ethereum Layer-2s Starting in 2025

Ethereum (ETH) creator Vitalik Buterin says that starting next year, he will only publicly mention layer-2 projects that he believes are en route to optimal decentralization. Addressing his 5.4 million followers on the social media platform X, Buterin says that in 2025, he plans to only publicly name L2s that are in “stage 1” or […]

The post Vitalik Buterin Says He Will Only Promote Sufficiently Decentralized Ethereum Layer-2s Starting in 2025 appeared first on The Daily Hodl.

Bitcoin Price Analysis: Bulls Fight for Control as Bears Threaten a Massive Sell-Off

Vitalik: L2s that aren’t at least ‘stage 1’ are dead to me

The Ethereum co-founder said it was “stage 1 or bust” for his acceptance of a layer-2 project’s decentralization progress.

Ethereum co-founder Vitalik Buterin has reiterated his stance on layer-2 decentralization, stating that he only plans to acknowledge scaling solutions at “stage 1” of his decentralization scale.

In a Sept. 12 X post, Buterin said that he takes this “seriously” and that, starting next year, he only plans to publicly mention layer-2 networks that are “stage 1+”.

He added that there “may be a short grace period for new genuinely interesting projects.”

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Bitcoin Price Analysis: Bulls Fight for Control as Bears Threaten a Massive Sell-Off

Bitcoin Layer 2 Protocol Stacks Achieves New High in Smart Contract Deployments

Bitcoin Layer 2 Protocol Stacks Achieves New High in Smart Contract DeploymentsStacks, the Bitcoin Layer-2 protocol, has achieved a new high in smart contract deployments, with a 30% month-over-month increase. This growth reflects the ongoing efforts of developers to enhance the Bitcoin ecosystem, making Bitcoin a more productive network. The increase in deployments highlights the potential for decentralized finance (defi) on Bitcoin and the innovative projects […]

Bitcoin Price Analysis: Bulls Fight for Control as Bears Threaten a Massive Sell-Off

Stacks’ smart contracts reach record high ahead of Nakamoto upgrade

Stacks hit a record of over 1,400 monthly smart contract deployments ahead of the Nakamoto upgrade, which is set to revolutionize Bitcoin DeFi and scalability.

Stacks reached a new all-time high in smart contract deployment just days before the much-anticipated Nakamoto upgrade is fully activated. 

Stacks, the Bitcoin network’s smart contract layer, reached a new all-time high of over 1,400 monthly smart contracts deployed.

Stacks announced the record high in a Sept. 7 X post:

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Bitcoin Price Analysis: Bulls Fight for Control as Bears Threaten a Massive Sell-Off