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Tech
Trump's Pro-Crypto Moves: New Appointments and Industry Developments
Discover the latest in cryptocurrency news and tech advancements in this week's issue of The Protocol newsletter. President-elect Donald Trump has made several high-profile appointments that signal a shift towards embracing cryptocurrency and emerging technologies. Key appointments include Stephen Miran as Chair of the Council of Economic Advisers, Bo Hines to head the newly formed Crypto Council…
Dec. 23, 2024, 9:15 p.m.
Tech
Bitcoin-Driven DeFi Gets a Significant Lift with BOB's Integration of $6 Billion Babylon Staking Protocol
In a move aimed at solidifying Bitcoin's position at the heart of the decentralized finance ecosystem, BOB, a hybrid layer-2 network, has integrated with Babylon, a prominent BTC staking protocol. This integration is a crucial step towards BOB's goal of establishing Bitcoin as the foundational network for DeFi, achieved by creating bridges between itself and other blockchains, with Bitcoin servin…
Dec. 18, 2024, 8:36 p.m.
Tech
Solana and Avalanche Lead the Charge in Crypto Tech Development
Welcome to the weekly crypto tech development update. Solana has become the most popular blockchain among new developers, according to a recent report by Electric Capital, with 7,625 new developers joining the ecosystem in 2024. The Solana ecosystem has seen significant activity, with the Pudgy Penguins NFT project debuting its native token, PENGU, on the blockchain. Meanwhile, Kraken's layer-2 r…
Dec. 18, 2024, 7:20 p.m.
Tech
Deutsche Bank Unveils Public and Permissioned L2 Blockchain on Ethereum
Deutsche Bank, a global banking leader, is expanding its presence in the blockchain space by building a layer-2 rollup network on Ethereum, leveraging ZKsync technology developed by Matter Labs. According to a report by Bloomberg and confirmed by a Matter Labs representative, the project aims to create a 'public and permissioned' L2 network. This setup allows anyone to view network activities but…
Dec. 18, 2024, 7:19 p.m.
Tech
Kraken Launches Ink Layer-2 Network Ahead of Schedule
Kraken, a prominent cryptocurrency exchange, has announced the launch of its layer-2 rollup network, Ink, built on the Ethereum blockchain. The network utilizes the OP stack, a customizable framework that enables developers to create their own rollups using Optimism's technology. Initially, the team had planned for Ink to go live in early 2025, but the launch is now ahead of schedule. As part of …
Dec. 18, 2024, 5:41 p.m.
Tech
WBTC Incident Exposes Persistent Distrust of Centralized Custody Solutions Among Bitcoin Holders
In a notable development earlier this year, users of wrapped bitcoin (wBTC) were taken aback upon learning that its issuer, BitGo, had entered into a custody arrangement with BiT Global, a Hong Kong-based cryptocurrency custodian with ties to TRON founder Justin Sun. This revelation did not expose novel vulnerabilities but rather "reopened old wounds" stemming from past failures of centralized cu…
Dec. 18, 2024, 3 p.m.
Tech
Runes Trading on Stacks Gets a Boost with New Automated Market Maker
The Bitcoin ecosystem has introduced a new and potentially faster, cheaper, and safer way to trade Runes, often referred to as the Bitcoin equivalent of memecoins. An automated market maker for the Runes protocol has been launched on Stacks, a Bitcoin layer-2 network, marking the first AMM for such tokens on the platform. This development follows the recent unveiling of Stacks' native BTC-backed …
Dec. 18, 2024, 2 p.m.
Tech
Ethereum's ENS Adopts Consensys' Linea Technology for its Layer-2 Network
The company behind the Ethereum Name Service, ENS Labs, has announced that it will be using Linea's technology to develop its layer-2 network, known as Namechain. Linea, a zero-knowledge rollup developed by Consensys, is the seventh-largest rollup network, with over $1 billion in its ecosystem. The decision to use Linea was based on two key factors: shared values and speed. Rollups are a type of …
Dec. 17, 2024, 2 p.m.
Tech
Avalanche Blockchain Unveils Its Most Significant Upgrade Yet: Avalanche9000
Avalanche, a prominent layer-1 blockchain that has risen to become the tenth-largest in terms of total value locked, has successfully activated its highly anticipated Avalanche9000 upgrade. This significant milestone marks the largest technical overhaul in the ecosystem's history. Following months of preparation, the network has introduced a slew of new features designed to reduce transaction c…
Dec. 16, 2024, 3:56 p.m.
Tech
Solana Attracts Most New Crypto Developers in 2024, According to Electric Capital
The cryptocurrency developer community experienced a period of stability in 2024, with the total number of developers worldwide remaining relatively unchanged, according to a report by Electric Capital. The total number of developers decreased by a statistically insignificant 7% from the previous year, with 23,613 monthly active developers in November. However, the Solana ecosystem witnessed subs…
Dec. 12, 2024, 10:09 p.m.