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Solana ‘memecoin frenzy’ prompts uptick in Rust dev demand

Rust is also becoming an increasingly popular programming language for blockchain firms building “performant distributed systems,” says CryptoJobsList CEO.

The Solana memecoin mania that began in the first half of 2024 has  contributed to an increase in demand for Rust engineers, according to the chief executive at a cryptocurrency jobs board.

It’s likely been driven by the “Solana memecoin frenzy, where Rust is the primary programming language,” Raman Shalupau, CEO and founder of CryptoJobsList told Cointelegraph, adding:

Solana memecoins currently boast a combined market cap of $6.28 billion — significantly larger than Ethereum layer 2 Base’s $1.2 billion memecoin market cap, CoinGecko data shows.

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Artbitrum founder says Stylus is a game changer for EVMs

The Arbitrum-building Offchain Labs co-founder Ed Felten said its new tool would allow more seasoned devs to build EVMs, possibly making them safer.

A recently released tool for Arbitrum developers could onboard more devs to Ethereum Virtual Machines (EVM) and improve its code, says Offchain Labs co-founder Ed Felten.

Speaking to Cointelegraph at Korea Blockchain Week, Felten lauded Arbitrum Stylus, which Offchain released on a testnet on Aug. 31, allowing developers to use languages including Rust, C, and C++ to build Arbitrum apps.

Felten said Stylus would allow non-Web3 native devs to “use the languages and the development tools that they're used to.”

He added it would onboard “a lot more developers” to building EVMs with more mature tools and cited the larger number of devs that program in Rust over Solidity — the latter being the programming language for building Ethereum smart contracts.

“One of the things that comes from those much more mature tools is it's much faster. So it's 10 to 15 times faster for typical computations than EVM.”

According to Felten, the benefit of supporting legacy languages is the amount of code that already exists written in languages such as Rust which is already “battle-tested and audited.”

Felten identified Rust as a language that was designed to help catch development errors, with its tools being “really good at reducing the odds that you'll introduce a bug in your code.”

“You can just use it. Now you can use that directly on-chain. You're gonna build less from scratch and you're gonna be able to take better advantage of things that other people have done.”

Felten also highlighted the gas cost was 10 to 15 times lower, which allows for “more complex stuff [to be] done in the same transaction” and opens up the possibility of being able to perform iPhone-compatible cryptography.

Related: Decentralized asset management system launches for Arbitrum, Optimism

Felten explained that iPhones use a different digital signature standard than Ethereum, which is not supported well, so “cryptography on Ethereum that’s compatible with the iPhone has an extremely high gas cost.”

“But in Stylus, you can drive that down so it becomes really feasible. It’s not prohibitively expensive.”

This could give way to having a crypto wallet integrated on an iPhone — unlocking the ability to use Apple’s FaceID to verify wallet transactions similar to bank card purchases.

Other use cases Felten saw with the lower gas fees were higher levels of realism in blockchain-based games and the on-chain evaluation of machine learning models against live application data.

Ultimately, Felten thought Stylus could help burgeoning projects ship faster as allowing for mature programming languages means they may be better protected against bugs, and errors along with having extra performance.

“You don't have to squeeze out every last tiny bit of performance in your code and that also reduces a lot of friction for developing protocols.”

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Additional reporting by Andrew Fenton.

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OpenBazaar marketplace says it’s set to ‘grow again from the ashes’

After shutting down in 2020 due to financial issues and poor user growth, the decentralized marketplace appears set to rise again.

The decentralized marketplace OpenBazaar appears set for a comeback after it was shut down over two years ago, according to a number of social media and GitHub updates.

A GitHub repository on the collaborative software development site shows progress as recent as April 12 on building a new version of the marketplace which was shut down in 2020.

Brian Hoffman, the former project lead at OpenBazaar and CEO of OB1 — the for-profit company which developed its software — tweeted on April 9 of the progress made on a “new” version of the marketplace saying it is “getting more interesting by the day.”

In the replies, Hoffman was asked how the marketplace would be different this timegiven that due to financial issues and poor user growth, OpenBazaar was forced to shut down.

Hoffman replied speaking of “freedom of exploration” and inferred that outside influence had contributed to its initial downfall.

The first hints that OpenBazaar would be launching a comeback came in a tweet from Hoffman on March 28, where he linked OpenBazaar’s GitHub page that showed he’d been working on a new version of the marketplace in the programming language Rust.

Just hours later OpenBazaar’s official account also posted a Tweet, which said “it is now time to grow again from the ashes,” and that “work has begun.”

Adding to the evidence that the marketplace appears likely to relaunch, the OpenBazaar website currently bears the message “openbazaar 3.0 - coming soon.”

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After the exchange had shut down in 2020, Hoffman tweeted that a future iteration of OpenBazaar would require more independence from OB1, but provided no more information about how this might work.

OpenBazaar has been hailed as the decentralized eBay alternative and was first launched back in 2014. It allowed users to interact directly with each other to make transactions using Bitcoin (BTC).

The marketplace initially had the name “DarkMarket,” but changed it to OpenBazaar following community input in an attempt to improve its public image.

Cointelegraph contacted Hoffman and OpenBazaar for comment but did not immediately receive a response.

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