Cyberport attracted 150 Web3 firms 🇭🇰, Twitter suspends AI Bot 🐦, ‘Britcoin’ prepare launch 🚀
Daily Crypto, Blockchain & Web3 Update 2023-06-19
CRYPTOCURRENCY
Ethereum validators may have to stake 64X more ETH, devs discuss (2 min read)
Ethereum wants to increase the minimum stake required to become a validator by 64 times, going from 32 ETH to 2048 ETH.
The proposal was made during a June 15 Ethereum core developer consensus meeting by Ethereum Foundation researcher Michael Neuder. The limit of 32 ETH allows more validators to join the Ethereum network, which enhances its decentralization. However, this also inflates the validator set size.
Watch out, Ordinals — 30,000 ‘Ethscriptions’ land on Ethereum (3 min read)
Ethereum's users have been given another way to create nonfungible tokens (NFTs) and other digital assets on the blockchain with the launch of a new protocol. Launched on June 17, the protocol, dubbed “Ethscriptions,” is a nod to the Bitcoin, Ordinals protocol, where assets are known as “inscriptions.”
Lehman declared the project a “huge success” in a series of tweets on June 17 and noted nearly 30,000 Ethscriptions had been created within the first 18 hours of the protocol going live.
Hong Kong says Cyberport attracted 150 Web3 firms in a year (2 min read)
Over 150 Web3 companies established themselves in Hong Kong's Cyberport over the last year, which was built by the government to encourage innovation.
The influx came after the Hong Kong government invested 50 million yuan ($7 million) to help Cyberport speed up the development of Web3 with blockchain as the supporting technology, Chan Mo-po said.
BUSINESS
Twitter suspends memecoin-linked AI bot after Elon Musk’s ‘scam crypto’ claim (3 min read)
Twitter has suspended the account of the popular memecoin-linked artificial intelligence-powered bot “Explain This Bob” after Elon Musk alleged it was a “scam crypto account.”
Musk alleged the account was a scam in a tweet on June 18 in a reply to the bot; the account was seemingly suspended soon after.
CertiK receives $500K bounty after Sui blockchain threat discovery (2 min read)
Blockchain security firm CertiK has received a bounty of $500,000 from the Sui network after flagging a threat that had the potential to disrupt Sui's entire layer-1 blockchain.
In an announcement sent to Cointelegraph, the CertiK team highlighted that the vulnerability dubbed "HamsterWheel" was different from traditional attacks, which focus on shutting down blockchains by crashing nodes.
Binance cancels registration for inactive business in the UK (3 min read)
Troubled cryptocurrency exchange Binance continues to withdraw from major markets amid ongoing pushback from global regulators.
Binance Markets Limited (BML), Binance’s United Kingdom-based subsidiary, has officially canceled registration with the Financial Conduct Authority (FCA).
‘Britcoin’ launch inches closer after Project Rosalind CBDC tests (3 min read)
The Bank of England (BoE) is a step closer to launching its central bank digital currency dubbed “Britcoin” following the conclusion of a trial study called Project Rosalind.
The Bank for International Settlements and the BoE launched the joint experiment in July 2022 to explore how prototypes of an application programming interface (API) could be implemented in retail CBDC transactions.
BLOCKCHAIN
Why ZK rollups need data availability - Polygon co-founder (3 min read)
Although zero-knowledge proofs are considered an important breakthrough for blockchain, their success depends on having efficient data availability solutions to fully unleash their potential.
Anurag Arjun, co-founder of Polygon and blockchain data availability protocol Avail, highlighted the importance of data availability for ZK roll ups.
QUICK LINKS
Coinbase blasts SEC for ‘no straight answers’ following court order (2 min read)
Coinbase has slammed the United States securities regulator for failing to answer questions asked in the U.S. Court of Appeals as part of its ongoing legal battle with the regulator.
The comment from the crypto exchange came after the SEC asked for more time to respond to Coinbase's rulemaking petition.