Tech
ZK Trials Come to Bitcoin, Former Dark Web Drug Kingpin Launches Crypto Startup
StakeWise V3 arrives on Gnosis Chain.
July 26: Cryptocurrency staking protocol Stakewise has launched its V3 protocol on Gnosis Chain, Ethereum’s sidechain. According to Gnosis, “The launch will see the creation of a new staking market and permissionless access to the new liquid staking token osGNO.” Prior to the launch of StakeWise V3 on Gnosis Chain, the staking protocol’s V2 platform has accumulated over 73,000 GNO in deposits, equivalent to about 40% of Gnosis Chain’s staked assets, according to the team. (GNO is Gnosis Chain’s governance and staking token, used to secure the protocol and vote on key changes to its roadmap.)
BitcoinOS Tests First-Ever ZK Proof on Bitcoin Mainnet
July 25: BitcoinOSA network of Bitcoin-based rollup chains has verified the first zero-knowledge (ZK) proof on the Bitcoin mainchain. ZK cryptography is considered a key technology for scaling blockchain productivity and utility, but the technology is complicated and computationally intensive, meaning it was unclear if or when it would arrive on the relatively bare-bones Bitcoin network. According to the BitcoinOS team, “This is the first permissionless upgrade of the Bitcoin system and the first time Bitcoin has been upgraded without a soft fork.” Bitcoin can now be “infinitely upgradeable,” the team told CoinDesk, “without requiring changes to the consensus code.” BitcoinOS aims to be “the definitive implementation of a Bitcoin rollup system,” eventually serving as a bridge connecting any number of rollups, fast and cost-effective layer-2 blockchains that are secured by the Bitcoin blockchain and ZK proofs.
Roxom Raises $4.3M, Launches Bitcoin-Based Stock, Commodity, Futures Exchange
July 25 (PROTOCOL VILLAGE EXCLUSIVE): Roxom has raised $4.3 million in pre-seed funding to launch the first Bitcoin-denominated stock, commodities, and futures exchange. The company was founded by CEO Borja Martel and CTO Nick Damico. Martel previously co-founded Latin America-based cryptocurrency exchange Lemon. Roxom’s round was led by Kingsway, Draper, and David Marcus, among others. “Bitcoin-native financial markets are an important step for holders to access a wide range of financial services natively. Roxom is an important step in that direction,” Marcus said.
P2P Validation Service Integrates with Avail Network
July 25: P2P.org is set to complement the newly launched Network available on its non-custodial staking platform. According to the team, the integration with Avail’s data availability network will enable “smoother cross-chain transactions, improving overall blockchain interaction.” Key highlights, according to P2P, include a “0% fee incentive for the first three months of AVAIL staking, successful testnet phases handling over 300 million requests and 37,000 concurrent connections, and the implementation of innovative solutions such as a proxy balancer for increased network capacity.”
Elastos introduces native Bitcoin staking
July 25 (PROTOCOL VILLAGE EXCLUSIVE): Layer-2 Service Based on Bitcoin Elastic claims to have introduced the first-ever native bitcoin staking. From the team: “Using the Elastos BeL2 SDK, partners can develop native Bitcoin dapps to encourage staking of over 1 trillion dormant Bitcoin.” The SDK debuted at Bitcoin Nashville 2024, with the StarBTC demo lending app. “Elastos is the only L2 with innovative arbitrator node and smart contract technology, facilitating dispute resolution and earning opportunities for node holders staking Elastos ELA or BTC,” the team said.
Unchained Launches Service to Guide Friends and Family to Invest in Bitcoin
July 25: wilda Bitcoin financial services company, is launching “Connections,” a service designed to help friends and family securely invest in Bitcoin. Connections builds on Unchained’s custodial service with an interface to guide loved ones through the process of investing and securing Bitcoin. Unchained says the new service helps “improve the accessibility of Bitcoin and leverage trusted relationships to protect against digital threats.”
Bitcoin-Based Core Blockchain Introduces Dual Staking Model
July 25: Nucleusa blockchain that uses Bitcoin’s security mechanism and the Ethereum Virtual Machine (EVM), has adopted a Dual Staking model, “Bitcoin x CORE.” From the Core Foundation: “This new model is based on Core’s first-ever implementation of Non-Custodial Bitcoin Staking that serves as a Bitcoin bond layer, establishing the Bitcoin Risk-Free Rate.” Core says that 55% of Bitcoin mining hash power is actively delegated to Core, helping to secure over 100 dapps boasting $135 million in TVL and over 50,000 DAU. “Dual Staking is set to further solidify Bitcoin Core’s transformation from a simple store of value to a secure and profitable asset,” the team said.
Silk Road 2.0 Operator Launches Cryptocurrency Startup
July 24: Blake Benthallthe programmer who was behind the infamous drug black market Silk Road 2.0, has announced the launch of his new company Probe(x). From the company: “The Fathom(x) platform allows individuals and businesses to know exactly where their cryptocurrency is located, providing proof that they have access to it.” The platform also “simplifies the legal requirement to screen customer assets for sanctions,” Fathom(x) said in a statement, “by demonstrating that a company has complied with the law and by presenting confusing blockchain data as a simple ledger that finance professionals can quickly understand.” Benthall’s success in running a dark web drug market, which eventually led to his arrest by the FBI, has did not play a marginal role in his speech to investors.
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By Sam Kessler and Bradley Keoun.