Polygon Labs, a leading developer of Ethereum scaling solutions, has announced a new project called ApeCoin. This project leverages zero-knowledge proofs (zk-proofs) to create a fast and secure layer 2 network for decentralized applications. It 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.
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. 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.
Stellar, a leading blockchain network for cross-border payments, is conducting security audits for its smart contracts’ platform Soroban. This layer-2 solution enables developers to create and deploy complex smart contracts on Stellar, without compromising on speed, scalability, or cost. 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.
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. Its 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.
Fintech Plaid has partnered with Sei Labs, a blockchain-based innovation lab that aims to create a more open and inclusive financial system. The partnership will allow Plaid to leverage Sei Labs’ technology to offer its customers new ways to access and manage their financial data, as well as to explore new use cases for decentralized finance (DeFi). The partnership is expected to launch in early 2024 and will initially focus on the US market.
Uniswap and Galaxy Digital have invested in Parsec, a platform that provides on-chain analytics and data for various blockchains. The platform supports multiple blockchains, including Ethereum, Solana, Polygon, Binance Smart Chain, Avalanche, and more. 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.