News
Protocol Village: Cryptocurrency Losses from Hacks and Rug Pulls Double to $572 Million in Q2: Immunefi Report
June 27: Immunitya crowd-sourced on-chain security platform, released its “Crypto Losses in Q2 2024 report,” showing a loss of $572 million due to cyber attacks and rug pulls in Q2 2024, with an increase of 112% compared to the same period in 2023. According to the team: “This brings total losses to over $920 million year-to-date, with May 2024 seeing the highest monthly losses at $358 million. CeFi was the top target of successful exploits at 70%, compared to DeFi at 30% of total losses in Q2.”
Tezos, the Smart Contract Blockchain Famous for ICOs, Reveals “X” Roadmap with “Canonical Rollup”
June 27: Developer team behind Tezos blockchain revealed”Tezos X,” a series of technology updates that they say could bring a “huge increase in performance, composability and interoperability.” roadmapwhich outlines a development plan for the next two years, calls for splitting transaction execution into a separate “canonical rollup” that would support “atomic transactions through smart contracts written in multiple programming languages.” Tezos’ main blockchain would serve as the underlying layer for consensus and resolution. (XTZ)
REDACTED, Building Web3 ‘Entertainment Datasphere,’ Raises $10M
June 27: DRAWN UPbuilding an ecosystem of products to form an “entertainment datasphere,” has raised $10 million in funding, co-led by Spartan Group with Saison Capital, Animoca Brands, Polygon Ventures Web3 founders, VCs, angel investors and whales like Dingaling and Grail, according to the squad: “REDACTED’s data protocol enhances entertainment and gamification products, offering better and more targeted experiences.”
SCrypt, Web3 development platform, launches UTXO blockchain toolkit
June 27: Script, a full-stack Web3/blockchain development platform, announced the launch of a developer toolkit designed for blockchain Unspent Transaction Output (UTXO). According to the team: “UTXO is the method used by the Bitcoin protocol to track balances as they move between digital wallets. The UTXO model is essential for maintaining the security and integrity of blockchain networks and solves the double spending problem. … Xiaohui Liu, founder and CEO of sCrypt, said: “Historically, Web3 applications have largely been built on account-based blockchains like Ethereum and Solana Ordinals have reported renewed development interest in the Bitcoin and UTXO blockchains “. The sCrypt platform provides comprehensive toolkits such as software development kits (SDKs) and application programming interfaces (APIs) that allow developers to seamlessly integrate UTXO blockchains into their applications. The platform will also integrate a vast JavaScript/developer ecosystem TypeScript, estimated at 13 million globally.”
Rebar Labs Raises $2.9M to Build ‘MEV-Aware’ Infrastructure for Bitcoin
June 27: Armor workshopsbuilding “MEV-aware infrastructure, products and research” for Bitcoin, raised $2.9 million in seed funding, according to the team: “Led by 6th Man Ventures, with participation from ParaFi Capital, Arca, Moonrock Capital and UTXO Management, the company aims to address MEV challenges in the expanding Bitcoin ecosystem. As new protocols such as BRC-20, Runes, L2 and rollups emerge, MEV strategies similar to early Ethereum DeFi are appearing on Bitcoin Rebar Labs. is developing solutions to ensure efficient fair value distribution markets and improve the experience of users and miners in the Bitcoin ecosystem.”
BVNK launches ‘Layer1’, a self-custodial infrastructure for stablecoin payments
June 27: BVNK he threw Level 1a self-custodial infrastructure for stablecoin payments, “enabling fintechs to quickly enter the market while ensuring data privacy,” according to the team: “Layer1 simplifies blockchain payment infrastructure by handling wallet management and asset, reconciliation and third-party integrations. The self-custodial infrastructure allows companies to integrate digital asset payments with less than 200 lines of code in just weeks.”
Chainlink Data Streams launches on Avalanche, used by Decentralized Perps Exchange GMX
June 27: Chainlink data streams has officially launched on Avalanche, with GMX as the launch partner using Data Streams to power its decentralized perpetual exchange, according to the team: “By providing high-frequency market data using a robust, decentralized infrastructure, Data Streams enables high-yield DeFi products to create a seamless user experience comparable to CEXs, while providing unprecedented on-chain execution speed and a field-tested security infrastructure.” (CONNECTION)
Validation Infrastructure Provider SSV Extends Incentivized Mainnet Program Through December
June 27: Validation infrastructure provider SSV Network revised its incentivized mainnet program (IMP) following the successful decentralized governance vote, according to the team: “Key updates include extending the program through December 2024, restructuring reward tiers, and excluding SAFE multisig wallets from eligibility. The new tiered rewards system offers significant APR increases to initial validators, improving Incentives for participation. The revisions aim to maximize rewards, encourage validators involvement and address limitations of the previous program.”
Cobo Launches “Portal” for Businesses, Featuring “All-in-One Wallet Platform”
June 27: Coboa cryptocurrency wallet and custody infrastructure provider, has launched “Cobo Portal, a one-stop platform that simplifies the process for enterprises to build on a highly scalable wallet infrastructure and manage their digital assets seamlessly,” according to the team. Features include: “1. All-in-one wallet platform with custodial wallets, MPC wallets, Smart Contract wallets, Exchange wallets. 2. Advanced risk control: customizable user roles, on-chain and off-chain transaction policies, governance rules, approval workflows. 3. Seamless development environment: documentation and support in all popular programming languages, blockchain developers can quickly integrate Cobo’s WaaS (API and SDK).”
Dfinity Foundation launches ‘UTOPIA’ for ‘sensitive sectors’ like defense with ‘on-chain serverless cloud’
June 27: DFINITY Foundationa major contributor to the Internet Computer Protocol (ICP) while also working on decentralized artificial intelligence, has announced the launch of “UTOPIA, aimed at addressing the $10 trillion global cybersecurity problem, through on-chain serverless clouds that offer unprecedented operational resilience and security,” according to the team: “This technology is essential for high-risk and sensitive sectors such as defense, utilities and financial services, as it ensures unbreakable security and 100% digital sovereignty.”
Wanchain Interoperability Project Launches Token Bridge for Polkadot Relay Chain
June 27: WanchainA Level 1 proof-of-stake blockchain focused on interoperability, launched a token bridge between the Polkadot Relay Chain and the Cardano blockchain network, according to the team: “Despite the hype about the need for a bridge that circulates in both communities, Wanchain is the first to successfully connect Polkadot and Cardano, accessible from the Wanchain Bridge web portal. Temujin Louie, CEO of Wanchain, said: “Wanchain believes in need for interoperability between all networks, not just EVMs. We expect this initial implementation will lead to further developments, such as cross-chain function calls between two non-EVM networks.'” (ADA) (POINT)
Theta Network Expands EdgeCloud Computing Platform
June 27: Theta Network is expanding its EdgeCloud computing platform, according to the team: “The new Elite Booster feature allows users to earn TFUEL and partner TNT-20 tokens to perform GPU AI tasks, according to the team: “Theta EdgeCloud is the first hybrid computing platform for AI, video and rendering applications. It is powered by Theta Edge Network’s more than 30,000 distributed edge nodes and cloud partners, including Google Cloud and Amazon Web Services. The decentralized mesh network offers over 80 PetaFLOPS of distributed GPU computing power that is always available.”
Worldcoin will collaborate with Alchemy on the infrastructure for the new world chain
June 27: World currency announced that it is partnering with Alchemy to provide a trusted infrastructure for World Chain, a new blockchain designed for humans, according to the team: “By partnering with Alchemy, World Chain developers will have immediate access to a complete and comprehensive Web3 development platform that includes core and data APIs, indexing solutions, and a suite of other tools developers need to power their apps. Alchemy will integrate also World ID into its toolset and promote it as a foundational element of the Web3 infrastructure, offering seamless access to World ID to millions of developers around the world.”
Rarimo’s Worldcoin alternative, RariMe, is available
June 27: Rare introduced RariMe, a Worldcoin competitor, and an app that allows users to generate passport zero-knowledge (ZK) proofs verifying their uniqueness without revealing their identity, the company announced Thursday. Unlike Worldcoin which uses orbs to scan eyeballs, Rarimo uses smartphones to scan passports and verify its users. Identification frameworks typically have third-party approval credentials, but ZKs ensure that no personal data is shared during identity verification.
Superchain Network and Anyone Protocol Form Privacy Management Partnership
June 27: Superchain network and Everyone Protocol have joined forces to revolutionize privacy management in decentralized environments, according to the team: “Leveraging the Everyone Protocol’s DePIN ‘Anon’ network and the Superchain network’s actionable data, this partnership delivers unprecedented security, privacy, speed, and data sovereignty. It addresses critical privacy concerns in the crypto space, where current data providers expose customers to attempted metadata logging and inference, posing serious privacy risks and compromising business confidentiality.”
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