Polygon Labs, a leading developer of scaling solutions for Ethereum, has announced a new project called ApeCoin, which aims to leverage zero-knowledge proofs (zk-proofs) to create a fast and secure layer 2 network for decentralized applications.
ApeCoin is designed to be compatible with Ethereum’s smart contracts and tokens, while offering lower fees, higher throughput, and enhanced privacy. The project is led by Sandeep Nailwal, the co-founder and COO of Polygon, who believes that zk-proofs are the future of blockchain scalability and interoperability.
The cryptocurrency market is expected to grow significantly in the next few years, and one of the leading players in this space is Ethereum. According to a recent report by Standard Chartered Bank, Ether, the native token of Ethereum, could reach a value of $8,000 by the end of 2026.
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The report cites several factors that could drive Ether’s price appreciation, such as its role in decentralized finance (DeFi), its scalability potential with the upcoming transition to Ethereum 2.0, and its increasing adoption by institutional investors. The report also compares Ether to Bitcoin, the dominant cryptocurrency, and suggests that Ether could eventually surpass Bitcoin in market capitalization, as it offers more utility and innovation.
A startup that combines cryptocurrency and fantasy horse racing has secured $5 million in a seed funding round. The company, called Zed Run, allows users to buy, breed and race digital horses that are represented by non-fungible tokens (NFTs). Users can also trade their horses on a secondary market and earn rewards from participating in races and tournaments. Zed Run aims to create a new form of entertainment and gaming that leverages the power and potential of blockchain technology.
The cryptocurrency market has been volatile in recent weeks, as tensions between the US and China escalate over Taiwan and Ukraine. However, Bitcoin has shown resilience, bouncing back from a dip below $25,000 and finding support at the $27,000 level. Analysts say that Bitcoin’s fundamentals remain strong, and that the demand from institutional and retail investors is still high. Bitcoin could benefit from its status as a hedge against inflation and currency devaluation, as well as its network effects and innovation potential.
Stellar, a leading blockchain network for cross-border payments, has announced that it is conducting security audits for its smart contracts’ platform Soroban. Soroban is a layer-2 solution that enables developers to create and deploy complex smart contracts on Stellar, without compromising on speed, scalability, or cost. Soroban aims to provide a secure and reliable environment for building decentralized applications (DApps) that can leverage Stellar’s global reach and interoperability.
To ensure the highest level of security and trust, Stellar has partnered with several reputable security firms to conduct thorough and independent audits of Soroban’s codebase, architecture, and design. The audits will cover various aspects of Soroban’s functionality, such as its virtual machine, compiler, runtime, and API. The audits will also assess Soroban’s compliance with industry standards and best practices for smart contract development and deployment.
Stellar expects to complete the security audits by the end of the year and launch Soroban to the public in early 2024. Stellar believes that Soroban will unlock new possibilities for innovation and collaboration on its network and empower developers to create more impactful and inclusive DApps for the benefit of users around the world.
Fuul, a Web3 protocol that aims to revolutionize affiliate marketing, has announced its private beta launch after operating in stealth mode for several months. Fuul leverages blockchain technology and smart contracts to create a decentralized and transparent platform for affiliates, merchants, and consumers. Fuul’s protocol enables affiliates to earn commissions in cryptocurrency, merchants to access a global network of affiliates, and consumers to benefit from lower prices and rewards. Fuul’s private beta is open to a limited number of participants who can sign up on the project’s website.
Caroline Ellison, the former CFO of Genesis, was accused of fraud and conspiracy in a federal court yesterday. According to the prosecutors, Ellison prepared seven different versions of the company’s balance sheet in the months leading up to its bankruptcy and presented them to various investors and creditors to conceal the true financial situation of Genesis.
The prosecutors also alleged that Ellison received millions of dollars in kickbacks from some of the company’s vendors, who inflated their invoices and paid her a percentage. Ellison pleaded not guilty and claimed that she was acting under the direction of the CEO, who is still at large. The case is being closely followed by Inner City Press, a media outlet that covers corruption and human rights issues.
Uniswap, Galaxy invests in crypto on-chain analytics platform Parsec.
Parsec, a platform that provides on-chain analytics and data for various blockchains, has announced that it has raised $12 million in a Series A funding round led by Galaxy Digital and Uniswap. The round also saw participation from Coinbase Ventures, Fenbushi Capital, CMS Holdings, and others.
Parsec aims to empower crypto users, developers, and investors with actionable insights and tools to monitor and optimize their activities on the blockchain. The platform supports multiple blockchains, including Ethereum, Solana, Polygon, Binance Smart Chain, Avalanche, and more. Parsec claims to have over 100,000 active users and 200 integrations with leading crypto projects.
According to Parsec, the new funding will be used to expand its team, scale its infrastructure, and launch new features and products. Some of the planned products include Parsec Pro, a premium subscription service for advanced users; Parsec API, a unified interface for accessing data from various blockchains; and Parsec SDK, a software development kit for building applications on top of Parsec.
Parsec’s co-founder and CEO Anatoly Yakovenko said: “We are thrilled to have the support of such prestigious investors who share our vision of making blockchain data accessible and actionable for everyone. We believe that Parsec can become the go-to platform for anyone who wants to leverage on-chain data to enhance their crypto experience.”
Galaxy Digital’s co-president Damien Vanderwilt said: “Parsec is building a critical piece of infrastructure for the crypto ecosystem. As more users and developers enter the space, they will need reliable and easy-to-use data solutions to interact with various blockchains. We are excited to back Parsec and help them grow their platform and community.”
Uniswap’s growth lead Ashleigh Schap said: “Uniswap is proud to support Parsec as they build the next generation of on-chain analytics tools. Parsec’s technology enables users to access real-time data and alerts for Uniswap and other protocols, which can help them make informed decisions and optimize their strategies. We look forward to seeing Parsec’s continued innovation in this field.”