Tech News

Product News

Before the well-known Blast, this team had already made the leading NFT marketplace, beating OpenSea; and now, they are building the project, which claims to become the leader among Layer 2s.

💻$BLUR tokenomics:
▪️Circulating supply: ~1.191 billion BLUR
▪️Total Supply: 3 billion BLUR
▪️Current Market Cap: ~ $580 million
▪️Current price: ~ $0.5
▪️ICO price:  $0.651
▪️All-time low: $0.1532 (Oct 12, 2023)
▪️All-time high: $45.98 (Feb 13, 2023)

How did Blur beat OpenSea?
Opensea was one of the first NFT marketplaces and remained a monopoly for a long time. This allowed them to charge a 2.5% fee on every trade, as well as forcing users to pay royalties to the creators of the collections.

Blur entered the market with one of the highest-quality airdrops. Blur did not charge users any extra fees, while at the same time offering a more technologically advanced and user-friendly interface compared to OpenSea.

As a result, Blur destroyed OpenSea in six months, outperforming it in terms of users and transactions. Opensea's NFT marketplace revenue dropped by 200x from $387 million in January 2022 to $1.9 million in November 2023.

How to market play?
Blur is the beta play for Blast. The Blast network will launch at the end of February. The team has skills in marketing and market making, so closer to the launch of Blast the BLUR price action should be hot. However, the price has not cooled down enough after the Blast announcement, and TVL is still increasing.



12Swap.jpg

Token dissection. BLUR The team behind Blast

TON (The Open Network) and Pyth Network have recently announced a partnership. This collaboration aims to enhance the development of decentralized applications (dApps) on the TON blockchain by integrating Pyth’s advanced data streams. As a result, developers on the TON network will have access to high-quality, real-time pricing information, which is crucial for building innovative dApps.

### TON and Pyth

Now, let’s take a closer look at the projects involved. 

**TON (The Open Network)** is a decentralized blockchain platform developed by Telegram to offer high-speed, low-cost transactions and robust scalability. Designed to integrate seamlessly with Telegram’s ecosystem, TON supports a wide range of applications, including decentralized finance (DeFi), gaming, and more, making it a versatile foundation for blockchain development. Throughout the year of 2024, TON has seen a significant increase in users and higher adoption rates. This growth is in large part attributed to the popularity of casual games on the Telegram messaging app. Currently, TON has locked in a total value exceeding $500 million.

**Pyth Network** is a decentralized oracle network that specializes in delivering high-frequency, real-time data feeds to blockchain applications. By aggregating data from multiple sources, Pyth provides accurate and reliable pricing information crucial for various decentralized finance (DeFi) and other blockchain-based applications. While originally designed for the Solana blockchain, now it functions on more than 70 blockchains, including Solana, Ethereum, Optimism, Arbitrum, and Base. It offers market data for various assets such as cryptocurrencies, equities, FX, and commodities.

### The Partnership and Its Implications

The partnership is expected to improve various aspects of the TON ecosystem, particularly in decentralized finance (DeFi). The integration of Pyth’s pull oracle data feeds will equip TON developers with essential real-time, institutional-quality price data needed to build innovative decentralized applications (dApps). This collaboration will enable projects within the TON network to offer improved financial services and facilitate lightning-fast transactions, crucial for serving a wide global audience.

Beyond DeFi and gaming, Pyth's data capabilities are expected to attract new Web3 users who demand the same responsiveness they are accustomed to from Web2 services. 

Michael Cahill, CEO of Douro Labs and a core contributor to Pyth, emphasized that TON builders can trust Pyth to support their projects, including those already operational on other chains. This collaboration will bolster TON’s efforts to onboard users into the on-chain space, reinforcing the network's commitment to delivering top-tier services and functionality.

### TON Ecosystem and New Developments

This marks a significant step forward in the development of decentralized applications (dApps), promising to deliver enhanced data integration and improved financial services for the TON ecosystem. The changes will help make dApps more effective and the network more dynamic. Improved data integration means that applications will run more smoothly, with access to better information and more reliable financial tools. As a result, developers can create more innovative and efficient solutions, while users benefit from a more robust and responsive network.

On August 9, IntoTheBlock (ITB) added TON to its analytics platform. This provides the TON community with free access to advanced analytical tools. These tools will help users better understand trends and on-chain information. The integration aims to boost user engagement and improve network transparency, offering valuable insights into the TON ecosystem and supporting its overall growth.

### Conclusion

The collaboration between TON and Pyth, coupled with the integration of IntoTheBlock's analytics tools, represents a major advancement for the TON ecosystem. By leveraging Pyth’s real-time data feeds and ITB’s analytical capabilities, TON is set to enhance its offerings, drive user engagement, and foster a more transparent and dynamic network. These developments highlight TON's commitment to providing cutting-edge solutions and maintaining its position as a leading platform in the blockchain space.

On-chain  intelligence.png

TON Teams Up with Pyth

Arbitrum DAO, which governs the Arbitrum ecosystem, recently conducted a vote to decide whether to expand its Orbit chains to networks other than Ethereum. The proposal was approved with 84.5% in favor and only 0.01% choosing to abstain. 

You can find the full proposal [here](https://snapshot.org/#/arbitrumfoundation.eth/proposal/0xd6138aaca39742a1a56f3219a74a4258e0786aa5494cdfbe752f23277c1b947f).

### Arbitrum Orbit

The Arbitrum Orbit framework enables developers to design custom Layer 2 and Layer 3 rollup chains. These chains offer significant customization options, allowing developers to modify key elements such as the supported gas token, governance mechanism, data availability layer, and privacy features. Arbitrum Orbit is a framework allowing developers to create bespoke Layer 2 and Layer 3 rollup chains. Orbit chains can be customized, allowing developers to change core features including the network’s supported gas token, governance mechanism, data availability layer, and privacy features.

Currently, Arbitrum has 50+ orbit chains in development and is diversified into:

- 22 Defi Chains
- 17 Gaming Chains
- 5 NFT Chains
- 12 Infra and Tooling Chains

### The Proposal

In January, the Arbitrum Foundation rolled out the Arbitrum Expansion Program, which allows third-party projects to fork and adapt Arbitrum's codebase for deployment on any blockchain that employs Ethereum’s security model. In exchange, these projects participate in a revenue-sharing arrangement.

The latest proposal makes it possible for new Orbit chains to be launched on additional blockchain networks, including Bitcoin, Binance Smart Chain, and Cosmos. This adjustment responds to interest from projects wishing to create Orbit chains on blockchains beyond Ethereum, prompting the foundation to reassess the program’s current limitations. These changes could lead to more Orbit deployments and increased revenue for the Arbitrum DAO.

### What’s Next?

Keep in mind that the Arbitrum Expansion Program is only 8 months old, and this new authorization is set to accelerate its growth by enabling the launch of Orbit chains on multiple blockchain networks beyond Ethereum. 

Arbitrum is well-positioned to maintain its leadership in the Layer 2 ecosystem and possibly expand further. However, the Layer 2 market is becoming increasingly saturated, with many competing solutions striving for prominence. This heightened competition is compounded by the fact that many leading projects are shifting their focus towards launching their own Layer 1 solutions instead of supporting additional Layer 2 platforms. As the market evolves, Arbitrum will need to strategically navigate these challenges and capitalize on new opportunities to sustain and enhance its market position.

### Summary

The approval to expand Arbitrum Orbit chains to networks beyond Ethereum marks a significant milestone for the Arbitrum ecosystem. This decision opens new opportunities for developers and projects interested in leveraging the capabilities of Arbitrum across various blockchain networks.

This move also hints at potential revenue growth and expansion opportunities for Arbitrum DAO, marking it as a notable player in the evolving Web3 space. As the ecosystem continues to grow and adapt, it will be interesting to see how this decision influences the future of decentralized finance and blockchain technology.

rwa_cover-1.png

Orbit Chains to be Deployed Beyond Ethereum

Arbitrum Goes Chain-Agnostic

### Scaling Bitcoin: StarkWare’s Breakthrough with Zero-Knowledge Proofs

StarkWare, a blockchain developer known for StarkEx and StarkNet, claims to have verified the first zero-knowledge proof using its new STARK verifier on Bitcoin’s Signet test network. StarkWare’s goals are to enhance the scalability and security of blockchains, and this is a major step forward.

### STARK Verifier

StarkWare believes that zero-knowledge (ZK) proofs are crucial for unlocking Bitcoin's programmability and expanding its use worldwide. In simple terms, ZK proofs are a cryptographic method that enables one party to prove to another that they possess specific information without actually revealing it. For instance, in a layer 2 network, a user can prove ownership of a transaction to a smart contract or network node without disclosing sensitive data. This helps reduce congestion on blockchains, speeds up transactions, and maintains security. 

CEO Eli Ben-Sasson stated, “We said we wanted to scale Bitcoin and unleash the blockchain’s power to transform the world. This is us doing that. It’s our very first step in showing what Bitcoin can do with zero-knowledge technology.”

The concept was established by verifying the 32nd number in the Fibonacci squared sequence. This achievement paves the way for generalizing the design and enabling it to perform a wider range of general-purpose computations.

### Scaling Bitcoin Without Forks

No additional blockchain is being created, as StarkWare utilizes the existing Starknet network with its current governance and tokenomics. Bitcoin scaling doesn't necessitate a fork, and each decentralized application (dapp) has the flexibility to select its preferred settlement option. This is made possible in part by the utilization of OP_CAT.

### OP_CAT

The proposed Bitcoin update known as OP_CAT aims to restore some of the functionality that was originally available but was turned off by Satoshi Nakamoto in 2010 due to security concerns.

However, supporters of OP_CAT argue that advancements in technology and changes to the Bitcoin code have already addressed these issues.

StarkWare's breakthrough highlights the clear advantages of integrating OP_CAT and enabling Ethereum-like smart contract capability on the blockchain network. However, there are still critics, and consensus has not yet been reached in the community.

### The Signet Test Network

The test was conducted on The Signet test network. Bitcoin's Signet network, similar to other Bitcoin testnets, provides a controlled environment for developers to test new features, applications, and tools before deploying them on the Bitcoin mainnet.

However, Signet differs from traditional Bitcoin testnets due to its centrally coordinated nature and added stability and protection against spam or malicious activities.

### A New Era of Bitcoin Development

The achievements of StarkWare represent a significant advancement in Bitcoin scaling solutions by utilizing their ZK rollup technology. This project not only reinforced the case for OP_CAT but also demonstrated that there are still boundaries to be broken in the development of Bitcoin, creating opportunities for new developers to enter the ecosystem.

Blockchain.jpg

Starkware's Breakthrough with ZK Proofs

### Introducing GOAT Network: The Future of Bitcoin Layer 2 Solutions

ZKM is set to launch a groundbreaking Bitcoin Layer 2 solution called GOAT Network later this quarter. This innovative network aims to be the first decentralized Bitcoin Layer 2 that shares network ownership, marking a significant step forward in the crypto world.


### Decentralized Ownership and Participation

GOAT Network uses a decentralized sequencer model, where operators secure the network and earn yields on their Bitcoin. This model fosters a more community-driven approach, allowing even small BTC holders to stake their Bitcoin and earn yields. Such inclusivity opens up opportunities for everyone to participate and benefit, not just large investors.


### EVM Compatibility for Enhanced Functionality

One of the standout features of GOAT Network is its EVM compatibility, which allows for smart contract functionality. Unlike Bitcoin's Lightning Network, this compatibility enables more complex and versatile applications, significantly expanding what users can do on the network.


### Multiple Yield Sources

Participants on GOAT Network can earn yields from several sources:

- Gas fees in BTC
- Mining rewards in GOAT tokens
- Returns from staked BTC (stBTC)

As the team stated, "stBTC is a receipt token that users will receive after staking their BTC on GOAT Network. That stBTC receipt token can then be used to unlock more yield opportunities within the GOAT Network ecosystem."


### Initial Dapps for Maximum Utility

At launch, GOAT Network plans to offer several decentralized applications, including:

- Decentralized Exchange (DEX)
- Borrowing and Lending Platforms
- Perpetual Swap Platforms

These dapps will provide a comprehensive suite of financial services for Bitcoin-native assets, further expanding the Web3 ecosystem.


### A Vision for a Universal Layer 2

GOAT Network aims to be a "Universal Layer 2," starting with Bitcoin and later integrating other blockchains. This vision seeks to unify fragmented liquidity and enhance interoperability across the blockchain landscape.


### Seamless Interoperability with Entangled Rollup Technology

To achieve seamless interoperability across different blockchains, GOAT Network uses ZKM's Entangled Rollup technology. This ensures secure and efficient interactions between networks, eliminating the need for vulnerable third-party bridges.


### Conclusion

GOAT Network is poised to revolutionize the Bitcoin ecosystem by introducing a decentralized, inclusive, and feature-rich Layer 2 solution. With the ability to stake BTC, earn yields, and use smart contracts, GOAT Network offers new ways to maximize the potential of Bitcoin and beyond. Stay tuned for its launch later this quarter and get ready to witness this exciting new chapter in the world of cryptocurrency!


**Please be aware that the information provided is for informational purposes only and should not be construed as financial advice. Always conduct your own research and consult with a professional financial advisor before making any investment decisions.*