Welcome to the Protocol, Coindesk’s weekly wrapping of the most important stories in cryptocurrency tech development. I am Ben Schiller, Coindesk’s opinion and contains editor.
In this number:
- Movement Laboratories Roll Dev Mainnet
- Cardano Hard forks for decentral control
- SSV DAO reveals SSC 2.0
- Musk pushing blockchain in government
Network news
Movement Laboratories Roll Out Devnet: Blockchain Firmement Labs has implemented a developer Mainnet to promote his goal of bringing Facebook (Meta )’s Virtual Machine (Movevm) to Ethereum. Developer Mainnet’s launch begins the implementation of Movement’s Core Infrastructure and allows selected partners to start implementing decentralized finance (DEFI) protocols, according to an E email message on Tuesday. The release follows the initial mainnet -launch of movement in December and precedes the planned public mainnet beta -release next month. Moving was developed as part of Facebook’s bad digital currency project DIEM, which was shown at the beginning of 2022. The technology was also used to create SUI and APTOS-LAG-1 networks. Movement Laboratories, using a $ 38 million Serie A Financing Round Led by Polychain Capital, extends the programming language to an Ethereum layer 2 for the first time. Collecting with Public Mainnet’s implementation also reveals movement a multi -assets liquidity program to provide the basis for decentralized funding use (DEFI). Read more.
Cardano Hard forks for decentralization: Proof-of-Stake Blockchain Cardano should switch to Decentral Government 29. January After Plomin Hard Fork comes into effect, said the Carddano Foundation, a non-profit organization that supports the project, said at X. “Plomin Hard Fork comes into force, Select the transition to full decentralized control.[It’s] A milestone in blockchain government. “Cardanos ada-token changed hands at 93 cents at the time of press, an increase of 1.4% on the day, according to data from Coindesk and TradingView. A hard fork is a non-backward-compatible change to blockchain’s programming. The plomin hard fork has Need stakepool operators to upgrade their nodes and approve the upgrade with a 51% vote.
SSV DAO 2.0: SSV DAO, the decentralized autonomous organization behind the decentralized stack protocol SSV network, revealed a new framework, called “SSV 2.0”, which allows applications to make use of “based” technology by utilizing Ethereum -Validators. SSV 2.0 will be the most ambitious project for the SSV network, according to a press release shared with Coindesk, and will bring based applications (Bapps) to Ethereum. “Based” Applications, especially “Based Rollups”, is a new type of technology that attracts the attention of Ethereum developers as it allows for better interoperability, while the networks are on top of Ethereum’s security. Based Rollups can specifically be seen as a solution to the many LAG-2 networks at Ethereum today, which has caused a lot of fragmentation across the room. By utilizing “based” technology, these protocols or applications can “base” their security and execution operations out of Ethereum’s Layer-1 Validator set. Currently, Layer-2 networks use “Sequencers” to order transactions and send them back to Ethereum. Sequencers are criticized for being single points with failure. By using Layer-1-Validators to perform execution and security work, networking can avoid the underpatient by using centralized sequencers. Ethereum developers agree that based rollups allow for better interoperability in the network. Ethereum -Cosystem members have gathered over the past few weeks to find ways to solve this problem, and based Rollups is seen as a major breakthrough for it. Now the SSV network will also tackle these problems by bringing applications with based technology to Ethereum. Read more.
Musk pushes Blockchain: In its role that led the new department of government efficiency (DOGE), Elon Musk suggested that the use of a digital headbook would be a cost -effective way to track federal expenses, secure data, make payments and manage buildings, according to people who are familiar with the case. Several representatives of public blockchains have met with affiliated companies of DOGE, the people said. The department was created in response to the federal government’s $ 6.7 trillion expenses in the 2024 financial year, which Musk called “wasted” money in October. He promised that the department – whose abbreviation is a nod to Musk’s favorite cryptocurrency, Dogecoin (DOGE) – would cut the number to a maximum of $ 2 trillion. Given the department’s name and Trump’s willingness to establish crypto-Rengey policies in the United States, Musk’s plan to incorporate blockchain technology is not surprising. In addition to creating DOE On January 20, Trump signed an executive order to set up a working group on digital assets led by venture capitalist David Sacks with a mandate to identify all rules currently touching crypto within 30 days, among other things. Read more.
Money Center
XRP Strategic Reserve
- Ripple’s Brad Garlinghouse has ignited a debate about a suspected national cryptor reserve and says “I mean -cun reserve.
Deepseek hits tokens
Legislative and politics
