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Elon Musk Recommends Blockchain Adoption at D.O.G.E. for Enhanced Efficiency: Report
As the head of the newly established Department of Government Efficiency, appointed by President Donald Trump, Elon Musk has proposed the integration of blockchain technology into the department's operations, as reported by Bloomberg. Musk has suggested that leveraging a digital ledger system could provide a cost-effective means of tracking federal expenditures, securing data, processing payments…
Jan. 27, 2025, 7:05 p.m.
Tech
Ethereum Foundation Undergoes Significant Changes
Welcome to The Protocol, CoinDesk's weekly summary of key cryptocurrency tech developments. I'm Ben Schiller, CoinDesk's Opinion and Features editor. This issue covers several significant stories, including a major acquisition in the DAO governance space and turmoil within the Ethereum Foundation. Agora, a blockchain governance startup, is acquiring its competitor Boardroom. This strategic move a…
Jan. 23, 2025, 10:44 p.m.
Tech
Crypto Insiders Slam TRUMP Coin Amid Conflict of Interest Concerns
Critics from within the crypto industry have been vocal about their disapproval of the TRUMP coin, a memecoin launched by Donald Trump ahead of his 2025 inauguration. The coin saw a significant price surge, rising from $7 to $75 within 24 hours, before stabilizing at $38. However, its success has been marred by controversy, with many questioning the potential for conflicts of interest and the coi…
Jan. 22, 2025, 7:05 p.m.
Tech
Lido Co-Founder Proposes Alternative Ethereum Foundation Amid Community Dissent
Konstantin Lomashuk, founder of the Lido staking protocol, has hinted at establishing a 'Second Foundation' to drive Ethereum's ecosystem forward. This development comes as Ethereum co-founder Vitalik Buterin outlines plans to restructure the Ethereum Foundation, a non-profit organization supporting Ethereum's development, in a bid to streamline decision-making and address inefficiencies. Buterin…
Jan. 22, 2025, 5:44 p.m.
Tech
USDh Stablecoin Raises $3 Million in Funding to Boost Liquidity
In a significant development for the Bitcoin-based stablecoin USDh, its developers have successfully secured $3 million in liquidity. This influx of capital is the result of a collaboration between Hermetica, a decentralized finance protocol, and Zest, a Bitcoin lending platform. The partnership aims to offer attractive yields on USDh by leveraging sBTC, a bitcoin-backed asset that facilitates th…
Jan. 22, 2025, 2 p.m.
Tech
Ethereum Layer 2 Scalability Solutions Face Imminent Roadblock
Ethereum's Layer 2 scaling solutions are on the verge of hitting a significant roadblock in their ability to efficiently scale the mainnet, warns Polynomial.fi co-founder Gautham Santhosh. Layer 2 solutions are designed to improve the scalability and reduce transaction costs of layer-1 networks by processing transactions off-chain and periodically settling the results on the main chain. The recen…
Jan. 20, 2025, 7:12 a.m.
Tech
Ethereum's Long-Awaited 'Pectra' Upgrade Gets a Scheduled Release Date
The Ethereum development team has announced a timeline for the highly anticipated Pectra upgrade, promising a slew of enhancements aimed at boosting the blockchain's speed and efficiency. During a virtual meeting on Thursday, the core team revealed that Pectra is slated for release in March 2025. This upgrade combines eight key Ethereum improvement proposals into a single package, with notable up…
Jan. 17, 2025, 4:49 p.m.
Tech
Jio Partners with Polygon to Introduce Web3 to 450M+ Users in India
In a significant move to elevate the digital experience for its vast user base of over 450 million, Jio Platforms, a subsidiary of Reliance Industries, has announced a strategic collaboration with Polygon Labs. This alliance aims to integrate cutting-edge Web3 and blockchain technologies into Jio's existing services, leveraging Polygon's expertise to provide innovative and enhanced digital experi…
Jan. 16, 2025, 3:30 a.m.
Tech
Sony Unveils Blockchain Platform Amidst Controversy
Welcome to our weekly cryptocurrency tech development roundup. This issue features Sony's launch of its blockchain platform, Soneium, built on Optimism's OP Stack, aimed at bridging the gap between Web2 and Web3 audiences. The platform has sparked controversy over allegations of censoring memecoin trading. Meanwhile, Bubblemaps has announced the launch of its token, BMT, and a new 'Intel Desk' fo…
Jan. 15, 2025, 10:24 p.m.
Tech
Sony Launches Soneium, a Layer-2 Blockchain Platform
Japanese electronics giant Sony has officially introduced Soneium, a general-purpose blockchain platform, marking its foray into the world of blockchain technology. This move is part of a joint project between Sony Group and Singapore-based Startale Labs, known as Sony Block Solutions Labs (SBSL). Soneium, a layer-2 network built on Ethereum, is designed to support a wide range of applications ac…
Jan. 14, 2025, 2:10 a.m.