BlockBeats will summarize the key industry news content of the week (4.21-4.28) in this article, and recommend in-depth articles to help readers better understand the market and learn about industry trends.
This week's important news review
Lawyers from the U.S. Department of Justice requested a 36-month prison sentence for CZ. CZ submitted a letter of apology, and 161 other letters of appeal from people in various industries
On April 24, the sentencing statement submitted by the U.S. Department of Justice lawyer stated that CZ pleaded guilty to violating the Bank Secrecy Act last November and should be sentenced to 36 months in prison and pay a $50 million fine. CZ's lawyer countered that CZ should be sentenced to probation instead of imprisonment.
Later, in a letter submitted to the judge, CZ apologized for his "wrong decision" and admitted that he took "full responsibility" for his actions. CZ said, "There is no reason not to establish the necessary compliance controls at Binance, and promised that this would be the only time he encounters the criminal justice system." He hopes to support biotechnology startups and young people. In addition to CZ's letter, there are 161 letters of appeal from family, friends and others. Including former U.S. Ambassador to China Max S. Baucus, Professor Jeremy R. Cooperstock, Professor McGill University, Associate Professor Gu Ronghui, Professor at Columbia University, Morgan Stanley Managing Director Sean Yang, and members of the United Arab Emirates family also sent letters of support. Among them, He Yi's letter has been widely read in the industry. "Full text of He Yi's letter to the U.S. judge: What is a more real CZ like?"
Starknet Foundation will reissue STRK airdrops to 3 user groups
On April 24, the Starknet Foundation said it would reissue STRK airdrops to three user groups, including: Collective stakers: The Foundation said it initially intended to distribute STRK to eligible collective stakers through the staking protocols used by users. Although many staking protocols cannot complete the distribution task, the currently supported protocols or entities include: Lido, Rocket Pool, BloxStaking, SharedStake, stakefish, Consensys and Ankr Staking. StarkEx users who were mistaken for VeVe users: Immutable users who were identified as non-VeVe users in the update list received by the Foundation from Immutable will be able to claim STRK through the portal. VeVe users: Ongoing discussions with VeVe on token distribution.
Solana On-chain Pre-sale Market Whales Market Announces Launch on io.net (IO)
On April 24, Whales Market announced that its Pre-Market was launched on io.net (IO).
Binance BounceBit (BB) Megadrop is now open, BB will be listed for trading on May 13
On April 25, Binance users can participate in the BounceBit Megadrop from 08:00:00 (ET) on April 26, 2024. The BounceBit (BB) Megadrop App is expected to be launched in approximately five hours after this announcement. Binance will list BounceBit (BB) on May 13, 2024 at 18:00 (ET) under the Seed Tag Trading Rules.
Binance launches Renzo (EZ) new coin mining, and the first season airdrop will be available at 19:00 on April 30
On April 23, Binance launched Renzo (EZ) for new coin mining. Users can invest BNB and FDUSD into the EZ mining pool on the Launchpool website after 08:00 (ET) on April 24 to receive EZ rewards. EZ can be mined for a total of 6 days. Related reading: "Analysis of Binance's latest project Renzo: Token economic model and valuation expectations"
On April 27, Renzo announced that the first season ezPoints airdrop will be available at 19:00 Beijing time on April 30, which is 1 hour before the launch on Binance. Officials said that the second season ezPoints airdrop event is also about to begin. This event will run for a total of 3 months and distribute 5% of the total supply of tokens to all participants. Participants in the first season will receive a 10% point increase.
Renzo token economics sparked controversy, with only 5% allocated to depositors, leading to community dissatisfaction
On April 24, Renzo announced the token economy of its native token REZ. The total amount of REZ is 10 billion, and the initial circulation is 1.05 billion. The community will allocate 30% of the tokens, investors will allocate 31.56%, core contributors will allocate 20%, the foundation will allocate 13.44%, and Binance Launchpool and liquidity mining will each account for 2.5%. From the perspective of token economics, only 5% is allocated to deposit users. In addition, the liquidity pool of ezETH tokens on Uniswap is low in depth and liquidity is insufficient. The price of Renzo's ETH deposit certificate token ezETH has been significantly decoupled, and there was a spike at one point, with a drop of up to 50%, about US$1,600, which caused serious dissatisfaction in the community. Related reading: "Only 5% allocated to deposit users? Renzo airdrop caused community dissatisfaction, ezETH was briefly seriously decoupled" , "Re-staking first appeared decoupled risk, Renzo token economy caused controversy"
On April 25, Renzo decided to update the token distribution ratio after listening to the opinions of the community. The airdrop distribution ratio was increased to 12% of the total tokens, and the total supply in the first quarter increased from 5% to 7% (the additional 2% was borne by liquidity and the foundation). The second quarter distribution is still the total SHIB team completed $12 million in financing, with Polygon Ventures and other investors participating.
SHIB team completes $12 million financing, with Polygon Ventures and others participating
On April 22, the Shiba Inu (SHIB) team completed a $12 million financing round by selling its unissued tokens TREAT to non-US venture capital investors. This round of financing was participated by Polygon Ventures, Mechanism Capital, Big Brain Holdings, Shima Capital, Animoca Brands, Morningstar Ventures, Woodstock Fund, DWF Ventures, Stake Capital and Comma 3 Ventures.
Sources said this was a round of financing in tranches, with each tranche valued at $75 million, $100 million, and $200 million. According to Shiba Inu, the TREAT token is a "utility and governance token" for its new privacy-focused Layer 3 blockchain, which is built on the Ethereum Layer 2 blockchain Shibarium. Lead developer Kusama said TREAT will be the last non-stable token in the Shiba Inu ecosystem, which will launch a new token called Shi later this year.
China Asset Management (Hong Kong), Harvest Global, Bosera International Bitcoin Spot ETF and Ethereum Spot ETF are officially approved
On April 24, the first batch of Hong Kong Bitcoin Spot ETF and Ethereum Spot ETF products applied by three fund subsidiaries, China Asset Management (Hong Kong), Harvest Global, and Bosera International, have been approved by the Hong Kong Securities Regulatory Commission. They are scheduled to be issued on April 29 and listed on the Hong Kong Stock Exchange on April 30. This is the first time such products have been launched in the Asian market. These two types of products are designed to provide investment returns anchored to the spot prices of Bitcoin and Ethereum (before deducting fees and expenses). Related reading: "Spot ETFs are about to be listed in Hong Kong. What other Hong Kong concepts are worth paying attention to?"
LayerZero: TGE is approaching, applications should register contract information in LayerZero Scan
On April 24, LayerZero Labs stated, “The first half of 2024 is coming to an end, which means the TGE schedule is getting closer. All applications should ensure that contract information is registered on LayerZero Scan. Expect to see continuous updates in the coming months.”
This week, the mainstream meme coins saw a general rise, with BONK, MEW, PEPE and other coins seeing significant increases.
On April 24, according to market data, the mainstream meme coins of Ethereum, Solana and Base ecology have seen a general rise, among which: BONK rose 33.2% in 24 hours, MEW rose 23.5% in 24 hours, NORMIE rose 22.5% in 24 hours, TRUMP rose 20.1% in 24 hours, and PEPE rose 16.3% in 24 hours. The funds of Solana ecological head memes such as WIF and POPCAT are highly active, and the overall trend is very resistant to declines. MANEKI, a meme coin that has recently exploded on Solana, was purchased by large investors for US$500,000 in the early stage, and has not been shipped. It has high user participation and high market attention. The meme coin is based on the image of "Lucky Cat", and there is no pre-sale of tokens and no team share. The price of Base ecological meme coin BOOMER rose about 20 times from April 22 to April 26, and the founder of Base also bought the coin.
Arthur Hayes: Money printing is about to accelerate, investors should boldly increase their holdings of crypto assets
On April 24, Arthur Hayes, co-founder of BitMEX, wrote that the current crypto bull market has just begun, and investors should boldly turn left (Left Curve), hold and increase positions. Hayes pointed out that in 2024, many major countries will hold presidential elections. Especially in the United States, the current ruling Democratic Party will do everything possible to be re-elected in order to reverse the policies of the Republican Party. In an election year, if the public feels that the economy is in recession, the probability of the incumbent president's re-election will drop from 67% to 33%. Therefore, the easiest way for the ruling party, which controls monetary and fiscal policies, is to significantly increase government spending, push up the growth rate of nominal GDP, and create an illusion that there is no recession.
Hayes stressed that as long as the government can borrow at an interest rate lower than the nominal GDP growth rate, politicians will continue to increase spending. Therefore, in the future, the scale of money printing will only be exaggerated. He suggested that investors take advantage of the recent pullback in cryptocurrency prices and slowly build positions. With the arrival of summer in the northern hemisphere, the volatility of the crypto market will also decrease, which is an excellent entry time for non-pre-sale investors. Unless the real interest rate turns positive, investors should remain optimistic and let the winners continue to run wild.
The US SEC notified ConsenSys, accusing MetaMask of being an unlicensed broker. Consensys denied this and said that MetaMask's services are not illegal.
On April 26, the US SEC sent a notice to ConsenSys, an Ethereum infrastructure development company, and accused MetaMask of operating as an unlicensed broker. Subsequently, Ethereum infrastructure development company Consensys sued the US SEC, accusing it of "illegal power grabbing" of Ethereum.
The company wants a federal court to declare that Ethereum is not a security, that any investigation into ConsenSys based on the idea that Ethereum is a security "would violate" the company's Fifth Amendment rights and the Administrative Procedure Act, that MetaMask is not a broker-dealer under federal law, that MetaMask's staking service does not violate securities laws, and an injunction prohibiting the SEC from investigating or taking enforcement actions related to MetaMask's exchange or staking features.
Solana second-generation mobile phone users may have "recovered their investment"
On April 26, users of the second phone "Chapter 2" launched by Solana Mobile received airdrops of MEME coins Maneki (MANEKI) and Cat in a Dogs World (MEW) from the team. This may offset the entire cost of the phone of $450. In addition, users of the second-generation Solana phone also received other MEME tokens totaling about $50.
Forbes published an article listing the top 20 “zombie tokens” with a market value of over $1 billion
On April 27, Forbes published an article listing the top 20 "zombie tokens" in the current crypto field with a market value of more than $1 billion, including: XRP, ADA, BCH, LTC, ICP, ETC, XLM, STX, KAS, THETA, FTM, XMR, AR, ALGO, FLOW, EGLD, BSV, MINA, XTZ, and EOS.
Forbes defines zombie tokens as assets that have little use outside of speculative cryptocurrency trading. For example, according to Messari data, XRP has a market value of $36 billion, and Ripple's XRP only spent $583,000 on processing transactions on its network last year. In Wall Street terms, this means that XRP has a "price to sales" (P/E) ratio of 61,689. In contrast, Nvidia has a market value of more than $2 trillion and annual revenue of $61 billion, with a P/E ratio of only 37 times. For another example, Ethereum Classic (ETC) has a market value of $4.6 billion, but will generate less than $41,000 in fees in 2023.
Franklin Ethereum Spot ETF ticker EZET is listed on DTCC website
On April 27, the spot Ethereum ETF "FRANKLIN ETHEREUM TR ETHEREUM ETF" (code EZET) launched by asset management company Franklin Templeton was listed on the DTCC (Depository Trust & Clearing Corporation) website, and the Create/Redeem column showed Y.
Ethereum ecosystem tokens generally rose, OP rose by more than 15% in 24 hours
On April 28, according to market data, Ethereum ecosystem tokens generally rose, among which: ETH rose by 5.54% in 24 hours; ENS rose by 18.19% in 24 hours; ETHFI rose by 18.78% in 24 hours; SSV rose by 16.79% in 24 hours; OP rose by 15.73% in 24 hours; STRK rose by 14.30% in 24 hours; ARB rose by 9.27% in 24 hours.
This week's hot articles
"Full text of He Yizhi's letter to the US judge: What is a more realistic CZ like?"
The case of Binance founder CZ is about to have a final verdict at the end of April. On Tuesday, CZ submitted a letter to the judge in charge of the case, apologizing for his behavior. In addition to CZ's letter, there are other letters of appeal from important figures such as family, friends, politicians, and employees, a total of 161 letters. Among them is the handwriting of He Yi, who knows CZ best. In the letter, she recalled the 10 years of ups and downs she and CZ had experienced together in the industry, especially the 6 years of building Binance together. Some of the little-known things are the epitome of CZ and Binance's behavior, whether it is theft, FTX, and going to the United States alone. CZ doesn't want to be a hero, but he has to protect what he wants to protect.
"Tampering with the activity rules and delaying refunds, what happened to ZKasino?"
Last weekend, ZKasino, a decentralized betting platform of ZK Ecosystem, was caught in a "runaway" storm: tampering with the website event introduction, refusing to return the ETH staked by users to participate in the event, closing Telegram speaking rights, canceling the offline meetup in Dubai, and arbitrarily transferring user funds to Lido for staking... Many users questioned whether ZKasino had "soft rugged"? This article takes you through the whole ZKasino incident, and at the end, the opinions and suggestions of three crypto VCs and KOLs are attached for readers' reference.
"Event Express丨Bitcoin Asia 2024 Hong Kong Bitcoin Conference opens on May 7"
Bitcoin Asia 2024 Hong Kong Bitcoin Conference hosted by Bitcoin Magazine is about to open. Among them, Bitcoin Devcon was held at Hong Kong Science Park from May 7 to 8, and Bitcoin Conference was held at Kai Tak Cruise Terminal in Hong Kong from May 9 to 10. Bitcoin Asia is a social event and exchange area aimed at promoting cooperation between enterprises and industry participants, where participants can experience and understand the Bitcoin ecosystem and culture in all aspects. This article is a summary of the guest lineup and surrounding activities of this conference.
Rereading Satoshi Nakamoto’s Emails: Anonymity is carried through to the end, and college students become early “spokespersons”
In 2009, Martti Malmi, a sophomore, sent a hasty job application email to Satoshi Nakamoto. Since then, he has become Satoshi Nakamoto's first collaborator and the person Satoshi Nakamoto trusts the most, and his life has been changed by Bitcoin. There has always been a legend in the crypto that college students "all in" and get rich overnight, and Martti must be the ancestor of this legend. Last month, he made public the email history with Satoshi Nakamoto, giving us the opportunity to review this magnificent history from more perspectives. In these emails, we see a closer side of Satoshi Nakamoto, as if "God" is not out of reach, as if he is right next to us, as if everyone is Satoshi Nakamoto.
"Runes that were not launched ideally, what are the controversies and hype logic?"
In conjunction with the launch of the Runes mainnet after the Bitcoin halving, project owners rushed to grab the first few runes, causing the gas price to soar. Under the high casting cost, most people chose to wait and see, while the prices of the previously rushed rune concept NFTs, such as Runestone and RSIC, have been falling all the way. "I don't know what to buy, I don't know what to play", has become the voice of these well-prepared community members, and the market seems a little confused. "We are in a relatively chaotic and confused period, and there is no broad consensus yet." This is the feeling of BTC ecosystem observer and player 0xSea , which truly reflects the current status of the Runes ecosystem. This article reviews and reviews the current controversy and hype logic of the Runes ecosystem.
Solving congestion, what will Solana's future fee market look like?
As the DeFi space rapidly expands, the Solana blockchain has become a new hot spot for decentralized applications with its high-performance architecture and innovative technologies. However, with the surge in economic activity, Solana's fee market and maximum extractable value (MEV) issues have become the focus of community attention. This article delves into Solana's fee market design, the challenges it faces, and the potential impact of MEV on its ecosystem, while comparing it with Ethereum's related experience and strategies.
"Now Binance can no longer do without He Yi"
Last June, Bloomberg published an exclusive interview with Binance co-founder He Yi. This was the first time that a mainstream Western financial media reported on the woman behind the billion-dollar unicorn in a complete article. But in the article, Bloomberg did not seem to recognize the "superpowers" that this "Binance woman" possessed and demonstrated in the crypto. This article systematically introduces He Yi's life experience and the story behind the founding of Binance. From a university class teacher to a host, to Binance's "Chief Customer Service" and "The Queen of the Crypto", He Yi has won the respect and recognition of users with her strength.
《Using Starknet as a reference, have you met the zkSync airdrop criteria?》
As of now, there are more than 6 million active addresses on zkSync (even if we only consider the addresses that actively interact on zkSync Era). ZK-based L2 star projects such as Starknet have implemented token airdrop plans and rewarded about 500,000 independent users. How will zkSync deal with the airdrop problem? In addition to requiring a balance of at least 0.005 ETH, the Starknet Foundation's token distribution rules also include the following conditions: active records in at least 3 different months; at least 6 interactions; a total transaction amount of not less than 100 US dollars; This article uses these three rules for active addresses in zkSync Era and simulates two airdrop scenarios based on different parameters.
How to speculate on Runecoin? An article on six popular Rune protocol tokens
Runes, which was launched in conjunction with Bitcoin's fourth halving, has made miners rich due to the popularity of Runes and the surge in Gas before they have had time to feel sad about the halving of mining rewards. The online jokes of "recharge 1000u, profit 10u" have emerged one after another, constantly stimulating retail investors to look for new prey. In addition to runes 0-9, what other investment opportunities are there? BlockBeats has selected 6 Runes tokens that are currently worth paying attention to and introduced them in this article.
"Re-staking reveals risk of depegging for the first time, Renzo token economy sparks controversy"
This week, Binance's latest new coin mining project Renzo caused controversy and doubts among community members because of the token economics that only allocated 5% to deposit users. Earlier yesterday, due to insufficient liquidity and large-scale selling, Renzo LRT token ezETH fell sharply to $688 in the short term. On April 25, Renzo announced that it had decided to update the token distribution ratio. The airdrop distribution ratio was increased to 12% of the total tokens, and the total supply in the first quarter increased from 5% to 7% (the additional 2% was borne by liquidity and the foundation), and the distribution in the second quarter remained at 5% of the total supply.
"Paradigm strikes again, will the new concept of gigagas lead a new narrative?"
Recently, Paradigm, the master of word creation, made another move. Its CTO published an article titled "Reth's path to 1 gigagas per second, and Beyond". The key word in the article is naturally "gigagas". Gigagas is related to the performance of blockchain. Paradigm wants to make GPS 1 gigagas, that is, the blockchain can consume 1 billion units of gas per second. VC took the lead in rolling up infrastructure, hoping to achieve much faster execution efficiency than the existing Ethereum and other EVM public chains, paving the way for the chain itself to carry large-scale applications. The importance of gigagas may not be as good as gigauser (one billion users). Perhaps performance is a prerequisite for achieving user scale, but performance may not necessarily bring users. There is still a long way to go to improve the experience of crypto products and increase user inflow.
《On-chain crypto asset holdings TOP 10, Vitalik ranks third》
Recently, blockchain intelligence platform Arkham counted the top 10 on-chain crypto asset holdings of individuals. The dashboard counts the history of token holdings and balances, as well as the distribution of each on-chain asset portfolio and detailed information on historical daily balances. The data shows that the top five individual holders on the list currently own a total of $3.631 billion in digital assets. However, more than 35% of them (or $1.283 billion) are marked as "inaccessible". This article takes stock of who the top 10 are and their corresponding holdings.
《Arthur Hayes: Money printing will accelerate, and next is the golden time to increase your holdings》
BitMEX co-founder Arthur Hayes pointed out in his latest article: As we enter the summer in the northern hemisphere, decision makers get a break from reality and the volatility of cryptocurrencies will decline. This is the best time to take advantage of the recent cryptocurrency decline to slowly increase your position. No matter how excited you are about the taste of cryptocurrency risk, the next few months will provide a golden opportunity to increase your position.
"Spot ETF is about to be listed in Hong Kong. What other Hong Kong concepts are worth paying attention to?"
China Asset Management (Hong Kong) announced this week that China Asset Management Bitcoin ETF and China Asset Management Ethereum ETF have been approved by the Securities and Futures Commission (SFC) of Hong Kong, and are scheduled to be issued on April 29, 2024 and listed on the Hong Kong trading platform on April 30, 2024. This is the first time such products have been launched in the Asian market. This major move has pushed the "Hong Kong concept" to attract attention again. From the occurrence of large-scale industry gatherings of tens of thousands of people to the dynamics of the top crypto companies announcing their layout in Hong Kong, the importance of "Hong Kong" to the industry and its long-term impact on the development of global Web3 regulation are self-evident. Can Hong Kong concept tokens continue to rise? In this article, BlockBeats briefly introduces the logically clear targets in the Hong Kong concept sector.
The offensive and defensive battle between ConsenSys and the SEC may affect the future of DeFi
On April 10, the U.S. SEC issued a "Wells Notice" to ConsenSys, an Ethereum infrastructure development company, which means that the SEC provides the company with a last chance to refute any allegations. The SEC stated that by providing the MetaMask wallet software, ConsenSys is acting as an unregistered securities broker. In response, ConsenSys denied it. On April 26, ConsenSys took the initiative and formally filed a lawsuit with the SEC, accusing it of "illegal power grabbing" of Ethereum. The core point of contention in this regulatory storm is that MetaMask, as a wallet application, is defined as a securities broker by the SEC. The SEC's move on MetaMask shows that the U.S. regulatory pressure on the entire crypto industry, especially DeFi, is gradually increasing. If MetaMask is labeled as "illegal", perhaps the entire DeFi industry will receive a more severe blow.
"After USDT is integrated into the TON ecosystem, what potential wealth opportunities will it bring to Web3 users?"
In the middle and late part of this month, Tether announced a partnership with TON to integrate USDT into the TON ecosystem. In just three days, the total supply of USDT on the TON chain exceeded 60 million. With the integration of USDT, the user volume of the TON ecosystem will grow rapidly in the future, and the advantages of Telegram+TON+USDT will be magnified. Even the large-scale adoption expected by Web3 is no longer "paper talk". This article discusses the development prospects of Telegram+TON+USDT and its potential wealth effect.
《Airdrop rules raise questions, how are Avail tokens distributed?》
Avail announced on April 19 that it will conduct a Unification Drop token airdrop. 354,605 eligible addresses will be eligible to claim a total of 600 million tokens, and the claim period will end on May 4. However, the subsequent airdrop claim website disappointed many people - many testnet participants and L2 heavy active users who were sure they would gain something before received the result of "Not Eligible" in the qualification query. For a time, there were constant scolding on the Internet, complaining about the rules and standards, and even questioning fairness. There were many users who directly called the project party "rat warehouse". What standards did Avail set, to whom did it distribute the tokens, and are the users' doubts reasonable? After reading this article, I believe you can come up with your own answer.
"AIxCrytpo Weekly Report: $OLM increased more than 50 times after IMO; io.net announced the token economic model and will remove a large number of GPU virtual accounts"
Nvidia reportedly plunged 10% last Friday, the largest one-day drop since the early days of the COVID-19 outbreak in 2020, with its intraday market value hitting a two-month low. Entering the fourth week of April, the AI sector continued to weaken. Bittensor (TAO) did not soar after its launch on Binance. After briefly climbing to $700, it began to fall continuously, down 18.0% in the past week. WLD is still in a position to halve from its highs, and RNDR fell more than 15% last week. Perhaps after the Bitcoin ecosystem heats up, the AI sector will be able to become active again. After all, the combination of AI x Crypto has just begun. This article summarizes the developments worth paying attention to in the AIxCrypto field last week.
《“Recursive Rune” is coming? 》
On Tuesday, @Elocremarc, co-founder of the Bitcoin NFT project Blob and the sixth-ranked contributor to the Ordinals protocol, tweeted: "It's time, recursive runes!" In the following two days, the floor price of Blob rose and broke through 0.05 BTC. The function of "recursion" is to allow inscriptions to reference data on the Bitcoin chain, including data from other inscriptions. @Elocremarc's idea is that we add a "recursive endpoint", namely "/r/output". As long as the recursive endpoint "/r/output" is added, developers will be able to know the number of corresponding runes and whether there are other inscriptions from the transaction output, which will enable the inscription to change according to the number of runes. At present, @Elocremarc has submitted a PR on the official Github of Ordinals. If it passes smoothly, we will have "recursive runes" to play. In the past week, "runes" have not shown a good money-making effect despite their extremely high attention, and perhaps more gameplay is needed to stimulate them. If the "Recursive Rune" can be implemented quickly, it will undoubtedly give the "Rune" a shot in the arm.
《List of 5 new projects worth paying attention to recently》
As Bitcoin has completed its fourth halving, the overall market has clearly rebounded, and the community's attention has returned to the discovery of new projects. BlockBeats has selected 5 new projects worth paying attention to in various ecosystems and chains for introduction.
Bitcoin BIP will add five editors, what impact will it have on future development?
Bitcoin’s open-source development is often hailed as one of its strengths, demonstrating the network’s resilience and elusive nature. But there are often challenges in developing, updating, and patching something as complex as a blockchain in real time. One of the main issues over the past few years has been a bottleneck in editing BIPs (Bitcoin Improvement Proposals), a standard for proposing non-binding software updates that would change the Bitcoin protocol in some way. But recently, the Bitcoin development community decided to nominate five new BIP editors. This is the first time in Bitcoin’s history that more than one person has held the position, a role that has been held solely by controversial Bitcoin OG Luke Dashjr for the past decade. Previously, Luke had sole decision-making power. More editors could mean more BIPs approved and merged, after all, the ultimate goal of proposals is efficiency. But Bitcoin may always be more interested in debate than speed, as it is full of strong personalities with strong opinions.
"MEME destroys encryption? a16z has a debate with the community"
When Meme appeared frequently in the top 50 crypto tokens by market value, and when Solana ran out of the large MC memecoin myth every now and then, from missing out to being "conquered by the rise", everyone's recognition of Meme coins gradually formed. This week, A16Z CTO Eddy Lazzarin made it clear in a discussion post on the value of Meme coins on Twitter: "Memecoin destroys the long-term vision of keeping many people in the crypto field, and is not technically attractive; it is not attractive to builders." Obviously, he regards Meme coins as casinos, which have no real value, but have affected the image of the industry. Eddy's remarks obviously attracted counterattacks and refutations from the community. An insightful comment is: Instead of criticizing Meme coins, it is better to criticize those destructive pseudo-innovations. The subtext here is that the so-called technological innovations in the industry are all serving hype; they are all creating concepts, and Meme coins are more pure. In the crypto information that is full of criticism or praise, FUD or shill every day, all the noisy arguments are not important. What matters is how you make your position benefit.
Popular Science | Understanding UTXO Concepts and Operations in One Article
Recently, Rune has once again ignited the heat of the Bitcoin network ecosystem, but many new wallets often have sufficient balances but insufficient UTXO when performing on-chain operations. This article explains what UTXO is, why UTXO is insufficient, why it is necessary to split, and how to split UTXO.
"Popular Science | Why are the names of Bitcoin runes so strange?"
The Bitcoin halving has passed, and at the same time, the RunesToken protocol has officially launched. According to data, since April 20, the Runes protocol has created more than eight thousand "etchings" (the preferred term for the deployment of RunesToken) on the Bitcoin blockchain. Among these new digital assets, a trend quickly emerged, that is, long and unusually formatted names. Tokens with labels such as "SYMPATHETIC•PARAMUTUALISM" and "WANKO•MANKO•RUNES" can be seen on trading platforms. The names of Runes are usually displayed in all capital letters, which may seem a bit strange, but the creators say there is a reason for this.
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