Welcome to the protocol, the weekly conclusion of Coindesk of the most important stories in the development of cryptocurrency technology. I am Ben Schiller.
In this number:
- Ethereum’s final test test is leaving live
- Hyperliquid facilitates Token transfers to defi
- Celo migration is performed to the Capa-2 network
- Bitcoin’s expansion faces bifurcation dilemma
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
He is alive! Ethereum Pin Test: The final trial of the dress for the next Ethereum’s pein update occurred on Wednesday, since Blockchain’s biggest changes in more than a year were tested an additional time after a series of mishaps. The update of the new Hoodi test was closely observed since two previous evidence, in the Holesky and Sepolia test networks, could not end correctly. After these tests, the developers created a new testnet, Hoodi, to give the ecosystem players, particularly the rethinking providers, a more test opportunity before the sick update arrives at Mainnet from Ethereum. The test involved passing a series of changes in the code aimed at making Ethereum easier to use for both end users and developers. One of these changes adds an intelligent contract functionality to the wallets, which allows wallet software developers to create new features oriented to convenience, such as the ability to pay transaction rates in cryptocurrencies other than Ether (ETH). The tests act as copies of a main block chain, and developers use developers to execute any change of the main code in a low bet, giving them a place to repair any error before they arrive at Mainnet. Hoodi was the last of the three trial bags to function through a pein simulation. The developers agreed before that if everything was going well on Wednesday, Pin would be monitored for about 30 more days and then, finally, activated in the Ethereum Mainnet. – Margaux Nijkerk Read more.
Hyperliquid facilitates defi chips: The Decentralized Finance Sector (DEFI) is among the largest drivers of value accumulation and the creation of income for cryptographic projects, but their complexity often leaves entangled users in a network of block chains, bridges, wallets and tokens. A technical update of Hyperliquid is facilitating this process for both developers and users, with the direct linking of tokens on Hypercore and Hypevm platforms now possible. Hypercore is its native platform for specific assets (think of tokens that can be directly traded) and Hyperevm, a Virtual Machine Ethereum network (EVM) that executes intelligent contracts in Ethereum. Tokens in Hypercore, called “Core Spot”, can be linked to their counterparts in Hyperevm and are called “spot evm”. Once linked, users can transfer them using simple actions, such as “spots” in Hypercore or a standard ERC-20 transfer in HYPEVM. By allowing tokens to move directly to each other, without a third -party intermediary, developers can create products that eliminate the technical chops necessary to move active, which is easy for users of heavy cryptography, but it can be a challenge for beginners. – Shaurya Malwa Read more.
Celus migration to CAPA-2: The long-awaited Blockchain zeal plan to become an Ethereum Layer-2 chain has been completed, finishing a process of almost two years, the main organizations behind the network said on Wednesday. The transition ends a long journey that begins in July 2023 for the block chain of layer 1 that included a community vote in July 2024 and a fierce competition, won by optimism, among the networks of layer 2 to convince the ecosystem to build with its technology. The improved network, like other layers 2, offers faster and faster transactions to Ethereum’s net. The blockchain works with Optimism’s Op Stack, a customizable frame that allows developers to build Layer-2 networks based on optimism technology. According to Rene Reisberg, CEO of the Celo Foundation, migration is the first of its kind in the Ethereum ecosystem, and will probably be used as a plan for other block chains compatible with EVM that seek to become a layer of layer 2. – Margaux Nijkerk Read more.
Bitcoin defi faces bifurcation dilemma: It is likely that Bitcoin developers that seek to expand the abilities of decentralized finance (DEFI) of the block chain have zero knowledge tests (ZK), functionality that is currently not available and that require a soft bifurcation so -called or a new version of the software, to present them. That is a problem, according to Edan Yago, a Bitcoin veteran of more than a decade and central taxpayer to the Smart Contract Bitcoin operating system (BOS). “Bifurcar a block chain, especially a value of $ 2 billion, is like an open heart surgery,” he told Coindesk in an interview. ZK tests are a cryptographic method to prove the validity of the statements while privacy is maintained by not revealing any information about it. The functionality is not available in the Bitcoin software, but it could be done through proposed implementations such as OP_CAT and OP_CTV. Yago said developers should be able to find ways to enable them in Bitcoin without any bifurcation. “The test load is in developers to demonstrate that there is no other way to achieve this through smart engineering,” he said. This is what Bos expects to achieve through Bitsnark, a Bitcoin roll protocol that is part of the computing paradigms family that is developing to climb the original block chain. These arose after the introduction of Bitvm by Robin Linus in October 2023, which established a framework on how smart contracts similar to Ethereum could be enabled in Bitcoin. Bitcoinos is now of open origin, what Yago describes as a “completely ready for production” Bitsnark protocol, which means that developers now have access to ZK verification in Bitcoin and can connect it to other blockchains such as Ethereum, Solana and Cardano. – Jamie Crawley Read more.
In other news
- In a two -hour interview with the senior presenter of Coendesk Christine Lee, the Executive President of Strategy, Michael Saylor, analyzes a strategic reserve of Bitcoin from the United States. – Christine Lee information.
- Crypto Start-Up Plasma has revealed the technical characteristics of its blockchain, which is designed for rapid and efficient global stablecoin transfers, using a consensus mechanism inspired by Hotstuff. – Omkar Godbole reports.
Regulatory and political
- The American senator Kirsten Gillibrand (Dn.y.), one of the main Democrats who support cryptographic legislation, warned the industry that they are not pressed for a “diluted” version of the long -awaited Stablecoin legislation that current Banking of Silley Banks in 2023, and the raising regulations of the maids of the maids of the maids and the school of the raising of the Crielagos schools and the College of Crypte of Crytips of Crypwe of Cryple of Chatch. FTX in 2022. – Cheyenne Ligón report.
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