Layer-2 Eclipse Airdrop Launch: Claim Your Tokens Today!
Weekly Cryptocurrency Development Roundup: Key Updates and Innovations
Highlights of the Week
In this edition of The Protocol, we explore significant advancements and announcements in the cryptocurrency technology landscape. Here’s what you need to know:
- Eclipse Unveils $ES airdrop, Allocating 15% of Total Token Supply
- Risc Zero Launches ‘Boundless’ Testnet for Zero-Knowledge Computing
- Bitcoin Developers Propose Freezing Addresses Vulnerable to Quantum Attacks
- Aethir and Credible Finance Launch First DePIN-Powered Credit Card
Major Developments in the Crypto Space
Eclipse Launches Token Generation Event
Eclipse, a layer-2 solution that integrates elements from both Ethereum and Solana, has initiated an airdrop for its $ES token. Over the next month, the network will distribute a total of 1 billion tokens, with 15% earmarked for community incentives and liquidity for early supporters. The remaining tokens will be allocated for ecosystem development, contributor rewards, and long-term investor commitments, ensuring a sustainable future for the protocol.
Risc Zero’s ‘Boundless’ Testnet Goes Live
The decentralized zero-knowledge compute marketplace, Boundless, powered by Risc Zero, has launched its incentivized testnet on Base, Coinbase’s Ethereum layer-2. This testnet allows developers to create and test applications in a near-live environment. The initiative has garnered support from notable organizations, including the Ethereum Foundation and Wormhole, facilitating a decentralized marketplace for zero-knowledge proofs.
Proposal to Secure Bitcoin Against Quantum Threats
A groundbreaking proposal has emerged from Bitcoin developers aiming to freeze coins secured by outdated cryptography, including those in Satoshi Nakamoto’s wallets. Co-authored by Jameson Lopp and other security experts, the proposal suggests a phased soft fork that would render unupgraded coins unspendable, addressing the existential threat posed by quantum computing to Bitcoin’s cryptographic foundations.
Introduction of the First DePIN-Powered Credit Card
Aethir, a decentralized GPU cloud network, has partnered with Credible Finance to launch what they claim is the first credit card and loan product backed by a decentralized physical infrastructure network (DePIN). This innovative product allows Aethir’s token holders to access stablecoin credit without needing to liquidate their assets, blending blockchain technology with traditional financial services.
Additional News Highlights
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Ripple Expands Custody Services in the Middle East: Ripple has partnered with Ctrl Alt, a UAE-based tokenization platform, to support Dubai’s initiative for real estate digitization. This collaboration will utilize Ripple’s custody infrastructure for storing tokenized property deeds on the XRP Ledger.
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SharpLink Gaming Becomes Largest Corporate Ether Holder: SharpLink Gaming has announced that it now holds 280,706 ETH, making it the largest corporate holder of the cryptocurrency. The firm raised $413 million through share issuance, using part of the funds to acquire additional ETH.
Regulatory Updates
House of Representatives Delays Vote on Crypto Legislation
The U.S. House of Representatives faced a procedural setback in advancing several cryptocurrency bills, with a vote postponed due to objections from the House Freedom Caucus. Despite this, there remains strong bipartisan support for the legislation, and a new vote is anticipated soon.
Tornado Cash Developer’s Trial Commences
The trial for Roman Storm, a developer associated with Tornado Cash, has begun, with a jury selected to determine whether he engaged in conspiracy related to money laundering and operating an unlicensed money transmitting business. The outcome could have significant implications for the future of decentralized finance.
Upcoming Events
Stay tuned for more updates as the cryptocurrency landscape continues to evolve rapidly.
