Crypto && Espresso 138 – Ciphertrace

blockchain coffee

Crypto && Espresso 138

Expertise Recap:


  • Binance is working to combine the Lightning Community for deposits and withdrawals.

  • Thomas Voegtlin posted to the Lightning Dev mailing record suggesting BOLT11 invoices be prolonged to optionally enable a receiver to request two separate funds from a spender. Every cost would have a separate secret and quantity.

  • BTC Warp is introduced which makes use of zk-SNARKs to show and confirm a sequence of Bitcoin block headers.


  • Vitalik Buterin, founder and creator of Ethereum, publishes an article on a Deeper dive on cross-L2 studying for wallets and different use circumstances.

  • The Ethereum Basis shares their newest allocation replace with varied funding going to grantees’ initiatives.

  • Ethereum builders are considering elevating the restrict of ETH staked for a validator from 32 ETH to 2,048 ETH.

  • Ethereum devs share the thought of a co-processor for rollups. The concept is an Optimistic Pool which might act as a common contract that saves consumer’s fuel by doing a little off-chain computations and validating them extra effectively.

Different Chains:

  • Zora Community, a fuel environment friendly and scalable layer-2 community, is now reside! It’s secured by Ethereum and constructed utilizing Optimism’s OP Stack.

  • A proposal was published to improve Polygon Proof-of-Stake (PoS) to a zkEVM (zero-knowledge Ethereum Digital Machine) validium. This might be a first-of-its-kind decentralized ZK layer-2.

  • Antonio Juliano, founding father of dYdX, shares that dYdX v4 can be totally open supply and won’t embrace a enterprise license upon being thought-about manufacturing prepared.

  • OwnLayer announces the deployment of Stage-1 Eigen on Ethereum mainnet. This marks a significant milestone of their mission to create a permissionless surroundings for innovation.

  • The Electrical Coin Firm, firm behind Zcashreleases v5.6.0 of zcashd. This launch introduces obligatory updates for mild wallets and their capacity to entry spendable funds with out totally scanning the blockchain.

  • Frax Finance to launch an Ethereum layer-2 named Fraxchain.

  • Binance’s BNB Chain introduces opBNB, a scalability answer that’s now obtainable on BSC. opBNB is a fork of Optimism using their OP Stack.

  • Uniswap Basis publishes the outcomes of their Bridge Evaluation Report.

  • Osmosis unveils OSMO v2.0, which is paving the best way for a sustainable liquidity hub on Cosmos.

  • Xai is introduced! Xai is a layer-3 blockchain leveraging Arbitrum. The purpose is for them to achieve assist from Offchain Labs to address the wants of recreation builders.

  • Polymer Labs announces Optimistic ZK IBC Connections. Polymer is enabling zero data based mostly IBC (Inter-Blockchain Communication) connections with extra! This builds on the interoperability and Cosmos ecosystem.

  • L2Beat unveils “Stages”, a maturity rating for layer-2 initiatives. This builds off of Vitalik Buterin’s view on milestones for rollups.

  • ARPA Community’s mainnet is now live on Ethereum! ARPA permits dApp builders to make use of a random quantity generator, multi-party computation instruments, decentralized voting methods, and extra straight through ARPA.

  • Reserve is deepening its involvement into Curve Finance by making a $20M funding of their governance ecosystem.

  • Pike Finance introduces Pike, a common liquidity protocol.

Hacks | Vulnerabilities | Exploits:

  • On June 16, 2023, Pawnfi was attacked on Ethereum in a flurry of transactions resulting from failing to confirm whether or not the NFT had truly been transferred when customers used a specified NFT as collateral for borrowing.

  • On June seventeenth, 2023, Midas Capital was exploited on BSC which resulted in a lack of ~$600K. Midas is a fork of Compound and the assault is similar to the vulnerabilities present in Hundred Finance and Silo Finance that have been disclosed on June seventeenth as properly. The basis trigger is a rounding subject within the lending protocol.

Mainstream Recap:

  • Coinbase announces their partnership with Bitkey, the self-custody bitcoin wallet made by Block, Inc.. The partnership will enable prospects to simply switch new and present bitcoin with Coinbase to their Bitkey self-custody wallet.

  • Binance’s UK subsidiary, Binance Markets Restricted (BML), has canceled its registration with the Monetary Conduct Authority (FCA).

  • The Worldwide Financial Fund (IMF) is working on a platform for CBDCs to allow transactions between international locations.

  • Ripple has secured in-principal approval of an software for a Main Funds Establishment License from the Financial Authority of Singapore.

  • Deutsche Financial institution applies for a digital asset custody license with the nation’s monetary regulator, the Federal Monetary Supervisory Authority, BaFin.

  • Fortune releases Gary Gensler’s Crypto Playbook.

  • BlackRock files for Spot Bitcoin ETF.

  • CoinDesk reports that BlackRock can be utilizing Coinbase Custody for the upcoming ETF and the crypto alternate’s spot market knowledge for pricing.

  • Paul Grewal, Chief Authorized Officer of Coinbase shares that they couldn’t await the SEC’s response – so he printed their ideas.

  • Bakkt is delisting Solana, Polygon, and Cardano resulting from regulatory uncertainty.

  • CoinDesk reports that Terraform Labs founder Do Kwon has been sentenced to 4 months in jail by a Montenegro courtroom after being discovered responsible of doc forgery.

  • Gemini announces their growth plans in APAC with an elevated headcount in Singapore and an engineering base in India.

  • Yehuda Lindell, Coinbase’s Head of Cryptography, releases a whitepaper on how Coinbase’s Pockets-as-a-Service leverages Multi-Celebration Computation (MPC).

  • Stablecoins issuer, Circle, restarts their U.S. Treasury purchases in BlackRock-managed USDC Reserve Fund.

This Week’s Cup of Espresso:

This week, we’re headed to Caffe Vita in Seattle, WA for a cup of their Pride Blend. This mix options roasts from Brazil, Ethiopia and Indonesia. With tasting notes of milk chocolate, caramel, and hints of cherry it’s a stable mix for a morning pour over. Sip up and luxuriate in!!

Author: CipherTrace Engineering
Date: 2023-06-22 13:49:06

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Alina A, Toronto
Alina A, Toronto
Alina A, an UofT graduate & Google Certified Cyber Security analyst, currently based in Toronto, Canada. She is passionate for Research and to write about Cyber-security related issues, trends and concerns in an emerging digital world.


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