Welcome to The Protocol, CoinDesk’s weekly wrap-up of the most important stories in cryptocurrency tech development. I’m Marc Hochstein, CoinDesk’s deputy editor-in-chief for features, opinion, and standards.
Bitcoin reached a new all-time high amidst the launch of IBIT options by BlackRock. The TON ecosystem is gaining attention as a potential dark horse in the crypto world by 2025. Trump’s Media Company is in discussions to acquire Bakkt, a crypto trading platform, while Razzlekhan has been sentenced to 18 months in prison.
Worldcoin, now rebranded as World Network, made headlines for its unique metal orb used for iris scans. However, a new blockchain identity platform called “Y” is set to challenge World Network, skipping the controversial eyeball-scanning orb.
Aave, the leading DeFi lending platform, is considering expanding to the Bitcoin layer-2 network Spiderchain. This move showcases the growing interest in bringing common crypto functionalities to the original blockchain.
In an interesting development, Spaces Protocol, a decentralized naming system built on Bitcoin, is set to launch soon. Founder Mike Carson claims that Spaces improves on ENS (Ethereum Naming Service) in several ways, offering a truly cypherpunk approach without a separate chain or token.
Morpheus, a project decentralizing artificial intelligence, is now live. Built on the Arbitrum blockchain, Morpheus aims to address the negative effects of centralized AI systems.
Mark Zuckerberg’s governance model at Meta contrasts with DAOs, where one token equals one vote. A recent “governance attack” on Compound by a large token holder called Humpy and his group raised concerns about the vulnerability of token holder-dominant governance models.
In the world of cryptocurrency, events such as India Blockchain Week in Bangalore are essential for networking and staying updated on industry trends and developments. Stay tuned for more updates and insights in the cryptocurrency and blockchain space.
Overall, the cryptocurrency and blockchain industry continues to evolve rapidly, with new projects and developments shaping the future of finance and technology. Stay informed and engaged to navigate this dynamic landscape effectively.