Welcome to the protocol, the weekly conclusion of Coindesk of the most important stories in the development of cryptocurrency technology. We are Margaux Nijkerk and Sam Kessler, reporters of the Coindesk technological team.
In this number:
- Eigenlayer finally ready to launch the critical fault function
- RootstockLabs prepares to release SDK for the 2s bitcoin layer using bitvmx
- Within the North Korean crypto washing tool: Thorchain
- Bitcoin Developer proposes a hard fork to protect BTC from quantum computing threats
This article appears in the last issue of the protocol, our weekly newsletter that explores the technology behind Crypto, one block at the same time. Register here to get it on your entrance tray every Wednesday.
Network news
Eigenlayer’s key function is finally coming: Eigenlayer, the resting protocol, shared last week that it will finally introduce its long cutting feature on April 17, marking the first “characteristic” version of the protocol. Slashing will allow the services actively validated (AVSS), applications built on Eigenlayer’s resting system, penalize operators that do not meet the pre -established conditions and reward those who do. Eigenlayer originally pioneered the concept of replacement, a way for Ethereum users to ensure additional protocols beyond the base layer to compromise their ether. The Court was supposed to be a central part of this system, providing applications with a way of punishing the bad actors to confiscate a part of their capital. Since Slashing was not part of Eigenlayer when it was initially launched in 2024, it left room for competitors to gain market share. The symbiotic, which allows the replacement of any asset, has been used by Eigenlayer Early Adapers, including Hyperlane, an interoperability framework and Ethena, a popular synthetic dollar protocol. – Sam Kessler Read more.
Building the Capa-2 in Bitcoin soon: One of the oldest Bitcoin ecosystem projects is to move on to the next stage of allowing developers to build layer 2 networks using their computational layer. Rootstock is one of the many projects that currently advances the objective of bringing greater utility and interoperability to Bitcoin, what he is doing using “bitvmx”, a modified version of the Bitvm programming language. The RootstockLabs project is weeks after launching software development kits (SDK), allowing developers to start producing their own layers 2 of Bitcoin using Bitvmx, said founder Sergio Lerner to Codendesk. SDKs are sets of tools that allow third parties to create applications using a particular platform or frame. “We are very close to having all the pieces ready for people to begin to build their own solutions in addition to Bitvmx,” Lerner said in an interview. – Jamie Crawley Read more.
North Korea crypto washing tool: In February, North Korea stole $ 1.4 billion in the largest cryptomony. Thorchain, a network used to change cryptography, has become the center of North Korea washing operations, used to close 85% of hack funds. Unlike other blockchain services, Thorchain operators have refused to block transactions linked to the Bybit robbery, despite FBI requests and other government agencies. Thorchain’s wallets such as Asgardex and Vultisig, tools that most people use to make network transactions, have not moved either. According to the estimates of Blockchain security researchers who spoke with Coindesk, the main developers and validators of Thorchain’s wallet, many publicly identified and based in jurisdictions with strict anti-linding regulations, including the United States, have won more than $ 12 million in hest-related rates. The United States Foreign Assets Control Office (OFAC) has previously sanctioned blockchain services used in relation to money laundering, such as the application of Tornado Cash mixer (which has been eliminated after a judicial ruling) and Bitzlato, an exchange. Prosecutors have also accused operators behind similar platforms. For legal experts and the cryptographic community, whether Thorchain, a layer 1 block chain, should be treated differently than these other services revive a fundamental debate that faces virtually all cryptographic platforms: is the network really decentralized? – Sam Kessler Read more.
Can Bitcoin resist quantum computing?: Bitcoin could go to his most radical cryptographic review, but a new proposal gains traction. A Bitcoin (BIP) improvement proposal draft entitled Migration protocol of directions resistant to quantum quantity (QRAMP) has been introduced by developer Agustin Cruz. Describe a plan to enforce BTC migration throughout the network of wallets inherited to those insured by the previous cryptography. Quantum computing involves moving away from a process that depends on the binary code, and zeros, and exponentially increases the computer power by using quantum bits (qubits) that exist in multiple states simultaneously. It is expected that such a jump in power threatens modern computer encryption built by classic machines. The proposal suggests that after a default block height, the nodes that execute the updated software would reject any transaction that tries to spend coins from an address using ECDSA cryptography, which could theoretically make it vulnerable to quantum attacks. – Francisco Rodrigues Read more.
In other news
- The first ETF of Ripple (XRP) launched on Tuesday. Also on Tuesday, Ripple agreed to acquire the first -level brokerage firm of Hidden Road assets for $ 1.25 billion, marking one of the largest M&A agreements in the digital asset industry to date. – Will Canny and Shaurya Malwa
- Galaxy Digital plans Redomicile in Delaware and lists the actions in Nasdaq after May 9 of the vote of the shareholders. The news comes a week after Galaxy, an important cryptographic risk firm, agreed to pay $ 200 million in an agreement with the New York Attorney General’s Office related to the participation of the fund in the collapse of Terra -Luna 2022. – Tom Carreras Read more
Regulatory and political
- China and Europe approved retaliation rates against the United States, the last development in a commercial war on by the president of the United States, Donald Trump, which has torn through global markets, including digital asset markets. – Coenina
- The price of Bitcoin fell below $ 77K on Wednesday, representing a relatively modest decrease of 8% from the announcement of the “Liberation Day” tariffs of Donald Trump. The fears of recession have increased an important evidence for cryptographic markets, which were born from the 2008 financial crisis and have not existed through an important recession of the United States. Until now, the Decentralized Finance Sector (DEFI) has shown signs of resilience. – Oliver Knight Read more
- The Congress of Argentina has launched an investigation into Libra, the alleged memecoin pumping and Dupo project promoted by President Javier Milei. The Token eliminated 90% for investors and led to calls for Mile’s political trial. –Francisco Rodrigues Read more
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