🚀 US Announces New Controls on Quantum Computing and Advanced Chip Technology
#US #QuantumComputing #AdvancedChipTechnology #InternationalPartners #FederalRegister
According to Odaily, market sources reveal that the United States has disclosed new control measures on quantum computing and the production of advanced chip technology. This announcement is part of an agreement reached with international partners. The details were published in the Federal Register.#US #QuantumComputing #AdvancedChipTechnology #InternationalPartners #FederalRegister
🚀 Ethereum Foundation Explores SNARK-Based Layer1 Expansion
#Ethereum #Layer1 #SNARK #gaslimit #EVM #scaling #mainnet #blockchain #crypto #consensus #ETH
According to BlockBeats, on September 5, Ethereum Foundation core researcher Justin Drake addressed the future of Ethereum Layer1 expansion during the foundation's 12th AMA session. When asked about plans for further expanding Ethereum Layer1 as Layer2 solutions mature, Drake outlined the foundation's long-term sustainable strategy involving SNARK technology to enhance the mainnet's EVM execution without limitations.
Drake explained that by implementing real-time L1 EVM SNARKing, verifiers can validate cost-effective SNARKs instead of naively re-executing EVM transactions. This approach would enable the mainnet to significantly increase the gas limit without burdening verifiers. The heavy EVM execution tasks would occur outside the consensus, managed by specialized nodes operated by entities such as searchers, builders, and explorers. Consequently, users and consensus participants could easily run their nodes on mobile devices or smartwatches.
In addition to the vertical scaling benefits from substantially increasing the L1 EVM gas limit, there is also the potential for arbitrary horizontal scaling using EVM-in-EVM precompiles. This method allows for low-cost verification of EVM execution within the EVM itself. Developers could programmatically launch new L1 EVM instances, unlocking a boosted version of execution sharding with an unlimited number of shards, as opposed to a capped number of 64 or 1024 shards. Each shard would function as a programmable rollup with customizable governance, ordering, and gas, referred to as 'native rollups.'#Ethereum #Layer1 #SNARK #gaslimit #EVM #scaling #mainnet #blockchain #crypto #consensus #ETH
🚀 USDC Treasury Destroys 50 Million USDC on Ethereum
#USDC #Treasury #Destruction #Ethereum #Blockchain #WhaleAlert
According to BlockBeats, on September 5, Whale Alert reported that the USDC Treasury completed the destruction of 50 million USDC on the Ethereum blockchain at approximately 21:01 UTC+8.#USDC #Treasury #Destruction #Ethereum #Blockchain #WhaleAlert
🚀 Forvis Mazars Economist Predicts 25 Basis Points Rate Cut
#Forvis #Mazars #Economist #RateCut #FederalReserve #GeorgeLagarias #Economy #Market #InterestRates #Recession
According to Odaily, Forvis Mazars Chief Economist George Lagarias expressed his views on the upcoming Federal Reserve meeting during an interview with CNBC on Thursday. Lagarias firmly supports a 25 basis points rate cut, emphasizing that a larger cut of 50 basis points is unnecessary and could send the wrong signals to the market and the economy. He stated, 'I don't see the urgency for a 50 basis points cut. Such a move might convey the wrong message to the market and the economy. As we know, a recession can become a self-fulfilling prophecy, so making such a decision without a compelling reason would be very dangerous. Unless something happens to unsettle the market, there is no need to cause panic.'#Forvis #Mazars #Economist #RateCut #FederalReserve #GeorgeLagarias #Economy #Market #InterestRates #Recession
🚀 User Loses 54 ETH in Phishing Scam
#phishing #scam #ETH #cryptocurrency #loss #Odaily
According to Odaily, a user recently fell victim to a phishing scam involving a 'token claim' transaction. The incident, which occurred two hours ago, resulted in the loss of 54 ETH, valued at approximately $129,808.#phishing #scam #ETH #cryptocurrency #loss #Odaily
🚀 Ethereum Researcher Discusses Value and Rollup Ecosystem
#Ethereum #ETH #RollupEcosystem #FinancialPlatform #ValueGeneration #Layer1 #L1Scaling #FeeMechanism #Decentralization #Blockchain
According to BlockBeats, on September 5, Ethereum Foundation core researcher Dankrad Feist addressed questions regarding the current value of ETH and whether the rollup ecosystem undermines ETH's value during the 12th Ethereum Foundation AMA.
Feist emphasized that Ethereum is building a financial platform that aims to be the most neutral to date. This platform allows for the issuance and trading of financial assets and the creation of new financial products without permission, which are highly valuable activities. While capturing value from these activities is possible, the exact mechanism remains unclear. Feist believes it will likely involve some form of fee mechanism. He maintains that Ethereum Layer 1 (L1) will remain the intersection for all these subdomains, where many valuable activities will continue, generating significant fees. Achieving this will require substantial L1 scaling.
Feist personally believes that focusing on building a value-generating ecosystem on Ethereum is the best approach, and value capture will naturally follow. He cautions against focusing on value capture when value generation is still insufficient. A diversified rollup ecosystem providing interesting applications to the world would be a success, but it would be an even greater success if this ecosystem also enhances the value of ETH assets. Feist acknowledges concerns that a rollup-centric roadmap might divert fee revenue and MEV from Ethereum, potentially making rollups parasitic to Ethereum. However, he disagrees, asserting that the highest-value transactions will continue to occur on Ethereum L1, and rollups will expand the capacity for users to transact on Ethereum, creating a symbiotic relationship.#Ethereum #ETH #RollupEcosystem #FinancialPlatform #ValueGeneration #Layer1 #L1Scaling #FeeMechanism #Decentralization #Blockchain
🚀 BlackRock IBIT Pre-Market Trading Volume Reaches $11 Million
#BlackRock #IBIT #PreMarketTrading #TradingVolume #ActiveOrders
According to Odaily, data disclosed by Trader T reveals that BlackRock's IBIT pre-market trading volume today reached approximately $11 million. Of this total, 21% were active buy orders, while 49% were active sell orders.#BlackRock #IBIT #PreMarketTrading #TradingVolume #ActiveOrders
🚀 Bitcoin(BTC) Surpasses 57,000 USDT with a 1.23% Increase in 24 Hours
#Bitcoin #BTC #USDT #cryptocurrency #Binance #trading #priceincrease #marketdata
On Sep 05, 2024, 13:40 PM(UTC). According to Binance Market Data, Bitcoin has crossed the 57,000 USDT benchmark and is now trading at 57,126.621094 USDT, with a narrowed 1.23% increase in 24 hours.#Bitcoin #BTC #USDT #cryptocurrency #Binance #trading #priceincrease #marketdata
🚀 Solana Optimistic Network Devnet Now Open for Public Testing
#Solana #OptimisticNetwork #Devnet #PublicTesting #SVM #OPStack #SOONBridge #CrossChain #SmartContracts #BlockExplorer
According to Foresight News, the modular framework combining SVM and OP Stack, known as Solana Optimistic Network Devnet, is now live and open for public testing. Developers and users can now utilize the SOON Bridge UI for deposits and withdrawals on the SOON Devnet. Additionally, the network's block explorer is operational, enabling various functionalities on the SOON Devnet, including cross-chain asset transfers, exploring the Devnet block explorer, and deploying smart contracts.#Solana #OptimisticNetwork #Devnet #PublicTesting #SVM #OPStack #SOONBridge #CrossChain #SmartContracts #BlockExplorer
🚀 US August S&P Global Services PMI Final Value Exceeds Expectations
#US #SPGlobalServicesPMI #August #PMI #economicdata #businessgrowth #financialnews
According to Odaily, the final value of the S&P Global Services PMI for the United States in August was recorded at 55.7, surpassing the expected 55 and the previous value of 55.2.
Additionally, the final value of the S&P Global Composite PMI for August stood at 54.6, higher than the anticipated 53.9 and the prior value of 54.1.#US #SPGlobalServicesPMI #August #PMI #economicdata #businessgrowth #financialnews
🚀 Mina Partners With Mirae Asset Financial Group For Enhanced Privacy STO Solutions
#Mina #MiraeAsset #PrivacySTO #SecurityTokenOffering #Blockchain #ZeroKnowledgeProofs #RealWorldAssets #ZKRollup #AssetManagement #PrivacyEnhancement #MINA
According to Foresight News, Mina has entered into a partnership with investment firm Mirae Asset Financial Group. The collaboration between Mina Foundation and Mirae Asset Financial Group aims to develop privacy-enhanced Security Token Offering (STO) solutions on the Mina blockchain using zero-knowledge proofs. This initiative is designed to promote the adoption of real-world assets (RWA) in the blockchain space.
The system comprises two main components. The first component involves preprocessing security tokens stored on a private ledger using ZK Rollup technology and exporting selected data to a public blockchain. The second component, zkApp, calculates the commitments of the STO and allows users to create privacy-enhanced proofs. This dual approach aims to ensure both the security and privacy of the transactions, thereby fostering greater trust and adoption of blockchain-based asset management solutions.#Mina #MiraeAsset #PrivacySTO #SecurityTokenOffering #Blockchain #ZeroKnowledgeProofs #RealWorldAssets #ZKRollup #AssetManagement #PrivacyEnhancement #MINA
🚀 Ethereum Foundation's Financial Reserves Estimated To Last A Decade
#Ethereum #EthereumFoundation #FinancialReserves #JustinDrake #CryptoFinance #Blockchain #AMA #FinancialLongevity #EthereumPrices #ETH
According to Odaily, Justin Drake from the Ethereum Foundation recently addressed questions regarding the organization's financial longevity during an AMA session. When asked about the duration for which the Ethereum Foundation's current funds would last, Drake provided detailed insights into their financial status.
Drake revealed that the Ethereum Foundation (EF) is set to release its financial report soon. He stated that the EF's annual expenditure is approximately $100 million. Based on current prices, the main Ethereum wallet of the EF holds around $650 million. Additionally, the EF has a reserve of fiat currency, which can cover several years of operational costs. Drake noted that this is the part he is least familiar with. He also mentioned that, as Aya pointed out, Ethereum sales were temporarily halted due to regulatory reasons, and the reserves have only recently been replenished. Rough estimates suggest that the foundation has about ten years' worth of financial reserves. However, this reserve is subject to change based on the fluctuations in Ethereum's price.#Ethereum #EthereumFoundation #FinancialReserves #JustinDrake #CryptoFinance #Blockchain #AMA #FinancialLongevity #EthereumPrices #ETH
🚀 AltLayer Launches AVS Service Platform Wizard
#AltLayer #AVS #Wizard #XPlatform #deployment #automation #blockchain #restaking #efficiency #technology
According to Odaily, AltLayer has announced the launch of its AVS service platform, Wizard, on the X platform. This new platform aims to automate the deployment and management of AVS, significantly enhancing the efficiency of manual deployment by tenfold. By reducing the complexity of operations and technical management, Wizard offers a resource-efficient, stress-free, and simplified method for re-staking.#AltLayer #AVS #Wizard #XPlatform #deployment #automation #blockchain #restaking #efficiency #technology
🚀 Ethereum Foundation Researchers Discuss Blob Fee Mechanism
#Ethereum #BlobFeeMechanism #PriceDiscovery #Congestion #DataAvailability #Rollups #MarketCompetition #EthereumProtocol #Scaling #CoreResearcher #ETH
According to BlockBeats, on September 5, Ethereum Foundation core researcher Davide Crapis addressed a question during the 12th Ethereum Foundation AMA regarding whether the target average for blobs should be lowered to ensure fee price discovery if the target is not met. Crapis responded that the target should not be lowered. He explained that the mechanism is designed to price congestion, so if there is no congestion, it is acceptable for prices to remain low. However, he noted that current demand being far below the target value affects price discovery during congestion. Crapis emphasized the importance of price discovery and suggested that making the mechanism more effective through short-term changes, such as increasing the minimum fee (while keeping it very low) or altering the update speed, could be beneficial.
Another core researcher, Dankrad Feist, commented on the same issue, stating that Ethereum is currently creating a new market for rollups, specifically the data availability (DA) market. He mentioned that many alternative solutions, such as Celestia, Eigenlayer, and Avail, aim to capture market share from Ethereum. These alternatives cannot compete on security, so they aim to compete on price. Feist asserted that the revenue from three blobs per block will never significantly impact Ethereum's protocol revenue. He believes that in the coming years, efforts should be made to scale as much as possible. Regardless of the approach, Feist does not consider blob fees to be the best value capture mechanism for Ethereum.#Ethereum #BlobFeeMechanism #PriceDiscovery #Congestion #DataAvailability #Rollups #MarketCompetition #EthereumProtocol #Scaling #CoreResearcher #ETH
🚀 CFTC Orders $209.61 Million Penalty for Fraudulent Investment Scheme
#CFTC #fraud #investment #PonziScheme #cryptocurrency #carbonInvestment #penalty #Oregon #court #restitution #disgorgement
According to Odaily, the U.S. Commodity Futures Trading Commission (CFTC) reported on Tuesday that Judge Mary Rowland of the U.S. District Court for the Northern District of Illinois has ordered Oregon resident Sam Ikkurty and several associated entities to pay a total of $209.61 million in penalties. The entities involved include Jafia LLC, Ikkurty Capital LLC, Rose City Income Fund I LP, Rose City Income Fund II, and Seneca Ventures LLC. The court's decision follows the CFTC's findings of fraudulent solicitation and misappropriation of funds, which the CFTC described as a Ponzi scheme disguised as cryptocurrency and carbon investment projects. The judgment requires Sam Ikkurty to pay $83.7 million in restitution to investors, offset by $36.9 million in disgorgement of ill-gotten gains, in addition to a civil monetary penalty of $110.9 million.#CFTC #fraud #investment #PonziScheme #cryptocurrency #carbonInvestment #penalty #Oregon #court #restitution #disgorgement
🚀 Four.meme Launches Multi-Currency Trading on BNB Chain
#Fourmeme #MultiCurrencyTrading #BNBChain #MemeCoin #Investments #USDT #WHY #CAKE #CryptoEcosystem
According to BlockBeats, on September 5, Four.meme, a leading meme coin issuance platform on the BNB Chain, announced the official launch of multi-currency trading. Users can now diversify their investments using BNB, USDT, WHY, and CAKE.
Four.meme aims to provide comprehensive support and resources for meme coin projects on the BNB Chain, fostering the growth and prosperity of the BNB Chain meme ecosystem. This initiative is expected to offer users more practical trading options.#Fourmeme #MultiCurrencyTrading #BNBChain #MemeCoin #Investments #USDT #WHY #CAKE #CryptoEcosystem
🚀 Ethereum(ETH) Drops Below 2,400 USDT with a Narrowed 0.06% Increase in 24 Hours
#Ethereum #ETH #USDT #cryptocurrency #Binance #marketdata #priceupdate
On Sep 05, 2024, 14:29 PM(UTC). According to Binance Market Data, Ethereum has dropped below 2,400 USDT and is now trading at 2,399.389893 USDT, with a narrowed narrowed 0.06% increase in 24 hours.#Ethereum #ETH #USDT #cryptocurrency #Binance #marketdata #priceupdate
🚀 Macron Appoints Michel Barnier As New Prime Minister
#Macron #MichelBarnier #PrimeMinister #France #EuropeanUnion #Brexit #Economy #MiCA #Cryptocurrency #NationalAssembly
According to CoinDesk, French President Emmanuel Macron has appointed Michel Barnier as the new prime minister, replacing Gabriel Attal. This decision follows the country's snap election in July, which resulted in no party gaining overall control of the National Assembly.
Barnier, 73, is known for his role as the European Union's chief negotiator during the Brexit talks and is affiliated with the right-wing Republican party. His predecessor, Gabriel Attal, a 35-year-old from the centrist Renaissance party, resigned after the July 8 election, which saw the left-wing coalition New Popular Front securing the most seats in parliament.
Macron's office stated that the appointment followed an unprecedented cycle of consultations. The president aimed to ensure that the new prime minister and government would provide the necessary stability. France, being the second-largest economy in the 27-nation European Union, plays a significant role in the bloc's economic landscape.
The European Union recently passed comprehensive legislation for cryptocurrency, known as MiCA, and France began accepting registrations for a license under this framework in early August.#Macron #MichelBarnier #PrimeMinister #France #EuropeanUnion #Brexit #Economy #MiCA #Cryptocurrency #NationalAssembly
🚀 OpenAI Discusses Subscription Service For New Language Models
#OpenAI #SubscriptionService #LanguageModels #Strawberry #Orion #AI #TechnologyNews
According to BlockBeats, on September 5, The Information reported that OpenAI executives have been discussing the launch of a subscription service for their upcoming large language models. These models include 'Strawberry,' which focuses on reasoning, and a new flagship model named 'Orion.' Sources indicate that during early internal discussions at OpenAI, a monthly subscription price as high as $2,000 was considered. However, it remains uncertain whether the final subscription price will be this high.#OpenAI #SubscriptionService #LanguageModels #Strawberry #Orion #AI #TechnologyNews
🚀 BCB Group Receives Acquisition Interest Amidst Rising M&A Activity in UK Crypto Sector
#BCBGroup #CryptoAcquisition #Cryptocurrency #PaymentProcessor #MergersAndAcquisitions #UKCrypto #DigitalAssets #ElectronicMoney #FranceRegulatory #SeriesBFunding
According to Odaily, cryptocurrency payment company BCB Group has received acquisition interest from potential investors. BCB Group, a payment processor that connects cryptocurrency companies with banking systems, is currently exploring a Series B funding round. The London-based company has been approached by potential buyers, reflecting the increasing merger and acquisition activity in the UK's cryptocurrency industry in recent months. In April of this year, BCB Group received authorization from two major French financial regulators, ACPR and AMF, to operate as an Electronic Money Institution (EMI) and a Digital Asset Service Provider (DASP). The company has stated that France will serve as its regulatory base in Europe.#BCBGroup #CryptoAcquisition #Cryptocurrency #PaymentProcessor #MergersAndAcquisitions #UKCrypto #DigitalAssets #ElectronicMoney #FranceRegulatory #SeriesBFunding