Welcome to the protocol, CoinDesk’s weekly wraps of the most important story of cryptocurrency tech development. I’m Margaux Nijkerk, Tech & Protocol Reporter of CoinDesk.
In this issue:
- Eclipse launched $ ES AirDrop, sharing 15% of token supply
- RISC Zero’s ‘Eternal’ Incentivized Testnet
- Bitcoin Devs Float’s proposal to freeze volume volume addresses-even Satoshi Nakamoto’s
- Aethir and Credible Introduce first-depin-powered credit card
Network news
Eclipse Token Generation Event: The Eclipse, the Layer-2 that combines technology from the Ethereum and Solana Blockchain, has shared that it has lived live with an airdorp of its $ es token. The team behind the network shared that the initial distribution will take place in the next 30 days, and a total of 1 billion $ ES token has been minted, with distribution structured to go to community incentives and protocol maintenance. In the supply, 15% were allocated to a provision of airdrop and liquidity for major community members and developers who supported the network from the beginning. 35% will support ecosy and research and development, which aims to assist the network scale. The contributors will receive 19% of the supply, including team members, with a four -year vesting period and a three -year locking schedule. The remaining 31% is for early supporters and investors, which is subject to a three-year locking schedule to promise the eclipse’s long-term roadmap. – Margaux Nijkerkk Read more.
RISC-Zero “Eternal” incentivized Testnet is Live: Infinitely, the decentralized zero-knowledge (Zk) The Compute Marketplace powered by RISC Zero, launched its incentivized testnet (called it “mainnet beta”) At the base, Coinbase’s Ethereum layer-2 network. With the endless’ incentivized testnet, developers can develop and test applications in an environment as if the protocol is in fully live format. The network has reached early support from industry heavyweights such as the Ethereum Foundation, Wormhole and Eigenlayer. A decentralized market for the zero-knowledge compute connects those who need zero-knowledge-like developers who build rollups, bridges, or applications that maintain privacy-with a shared network of independent “zk provers or miners” that make up those proofs. Instead of relying on centralized parties, this model allows anyone with the right hardware to contribute to the power of computing and rewarded in doing a cryptographic work. – Margaux Nijkerkk Read more.
Bitcoin’s new proposal to freeze Quantam-Vulnerable addresses: A new one Bitcoin Draft proposal Want to do what has long been unimaginable: Freeze coins that are secured by legacy cryptography -including those in the satoshi Nakamoto purse -before the computers can be cracked volume. That is according to a new draft proposal written by Jameson Lopp and other crypto security researchers, which introduces a phased soft fork that turns the moving volume into a ticking clock. Failed to upgrade, and your coins will not be noticed. Including approximately 1.1 million BTC tied in advance Pay-to-Pubkey addressessuch as Satoshi and other early miners. “This proposal is radically different from any of the history of Bitcoin as the threat obtained by Quantum Computing is radically different from any other threat to Bitcoin history,” those with -set explained as a motivation for the proposal. “Bitcoin has never faced an existing threat to its cryptographic primitives.” – Shaurya Malwa Read more.
The first depin powered credit card: Aethir, a decentralized GPU cloud network, co -worked with the Kapani -Finance, a lending protocol, to introduce what they call the first credit card and loan product reinforced by a decentralized physical infrastructure network network (DEFIN)). The move was designed to give native Aethir token holders and node operators to access Stablecoin’s credit without overlooking their tokens-a step towards the explosion of chain infrastructure with real-world capital capital. The product, which debuted on Wednesday, allows eligible users to collateralize their ATH tokens to access a rotating line of credit or pre-paid an unpaid card with ATH or stablecoins in Solana. Loan approval and limits are determined by the AI-driven credentials credit engine, which evaluates a user’s on-chain activity, asset holder and transaction history. – Margaux Nijkerkk Read more.
In other news
- Ripple has expanded institutional conservation services in the Middle East, working on the UAE-based tokenization platform Ctrl Alt to support the real estate-led initiative led by the Dubai government. Deal will see Ctrl Alt Use (Dld) In the XRP ledger (XRPL). – Shaurya Malwa Read more.
- Sharpink gaming (SBET)The firm listed in Nasdaq with Crypto Treasury strategy centered on Ether {{Eth}}On Tuesday it was said that it became the largest holder of the corporation of the owner with 280,706 ETHs worth nearly $ 840 million in current prices. The firm raised $ 413 million by releasing more than 24 million shares between July 7 and July 11, according to a Press release. It bought a total of 74,656 ETH last week at an average price of $ 2,852 each. Too much $ 257 million of that fundraising remained for future ETH acquisition, the firm said. – Kimzian Sandor Read more.
Regulation and policy
- The House of Representative on Tuesday did not vote on a movement method to advance a trio of crypto bills, but could vote on Wednesday to advance the law. As it emerged on Sunday dedicated to Crypto on Tuesday, the US House process to the passage of digital assets bills at a sudden stop of a vote procedure as members of the House Freedom Caucus objected to the way some laws built under Senate dominance. The law still has strong, Bipartisan support, which suggests the mishap method can be overcome as an additional vote will be scheduled for the later Tuesday afternoon. This vote was canceled for less than 15 minutes before setting it up to start, so the object may not be raised again until early Wednesday – the same day the Digital Asset Markets Clarity Act is set to vote. – Jesse Hamilton, Stephen Alpher, & Nikilesh de Read more.
- A 12-year jury is sitting for the Tornado Cash Developer Roman Storm’s Criminal Trial, and the opening of arguments is set to start later this afternoon at the Thurgood Marshall Courthouse in Lower Manhattan. Seven women and five men with different sets of backgrounds and ages will decide whether the U.S. Department of Justice may prove beyond a reasonable doubt that the storm is engaged in conspiracy to make money in the launch, conspiracy to violate US penalties and conspiracy to operate an unlucky business -free money. – Cheyenne ligon & nikilesh de Read more.
