Ankr and Brevis coChain join hands to revolutionize Web3 with zero-knowledge technology.
Brevis enables smart contracts to utilize blockchain data securely for innovative applications.
Ankr’s RaaS platform enhances scalability and interoperability for decentralized services.

Ankr, a leading player in the blockchain space, has teamed up with Brevis coChain to revolutionize Web3 networks.

The collaboration marks a significant milestone in the blockchain industry, as it aims to address key challenges such as scalability, security, and interoperability.

Pioneering ZK technology coprocessing technology

Brevis coChain, renowned for its zero-knowledge (ZK) coprocessing technology, brings a game-changing solution to the table.

By leveraging ZK coprocessing, smart contracts can now access and utilize historical blockchain data for computations in a secure environment. This breakthrough not only enhances the functionality of smart contracts but also opens up new avenues for decentralized applications (DApps) across various blockchain networks.

Ankr’s role as mainnet AVS operator

In the partnership, Ankr assumes the crucial role of the Mainnet AVS Operator. Ankr’s expertise in providing robust infrastructure for blockchain networks ensures the smooth functioning of Brevis coChain’s innovative solutions.

Through Ankr’s Rollups as a Service (RaaS) platform, developers can create complex DApps that leverage Brevis coChain’s zero-knowledge coprocessing capabilities, thereby enhancing the overall performance and efficiency of Web3 networks.

Brevis coChain’s integration with EigenLayer further enhances its capabilities. By utilizing EigenLayer’s cutting-edge technology, the coChain AVS (Account Verification System) enables seamless verification of transactions through zk-rollup proofs. This not only reduces operational costs but also improves processing time, making it a win-win solution for users and developers alike.

The collaboration between Ankr and Brevis coChain is not just about technological advancements; it’s about fostering a more inclusive and interconnected blockchain ecosystem. By promoting cross-chain compatibility and secure information sharing, they pave the way for the widespread adoption of decentralized finance (DeFi) and other blockchain applications.

The financial system is witnessing a transformative change as Circle announces a groundbreaking development. Investors holding shares in BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) can now seamlessly exchange their tokenized real-world assets for USDC.

This new smart contract functionality promises to revolutionize how investors interact with their assets, offering unprecedented speed, transparency, and efficiency.

Swapping BlackRock’s Real World Assets for USDC

“Tokenization of real-world assets is a rapidly emerging product category,” remarked Jeremy Allaire, Circle’s CEO. He further emphasized the importance of this innovation.

“USDC enables investors to move out of tokenized assets at speed, lowering costs and removing friction. We’re thrilled to provide this functionality to BUIDL investors and deliver the core benefits of blockchain transactions via USDC availability to investors,” Allaire added.

The introduction of BUIDL has been a significant milestone in the journey towards asset tokenization. It provides a glimpse into the future of finance, where blockchain technology bridges the gap between digital and real-world assets. The seamless integration offered by this fund showcases the potential of blockchain in reshaping the financial industry.

Read more: What Are Tokenized Real-World Assets (RWA)?

With Circle’s latest smart contract functionality, transferring BlackRock’s BUIDL shares for USDC on the secondary market becomes frictionless. This innovation ensures investors looking to sell their BUIDL shares can maintain their position in the market.

USDC’s trusted and transparent nature makes it an ideal choice for those seeking a stable and reliable digital currency. Therefore, this development is a significant step forward in the evolution of digital finance, providing investors with greater flexibility and control over their assets.

El Salvador is pioneering the integration of blockchain technology into traditional sectors by launching a tokenized debt issue. This initiative will fund the construction of a new hotel at El Salvador International Airport.

The facility will span 4,484 square meters, featuring 80 rooms, five commercial spaces, and various amenities, including a pool, restaurants, a gym, gardens, and multipurpose rooms.

El Salvador Hotel Project Will Require a Minimum Investment of $1000

Bitfinex Securities, the first regulated entity under El Salvador’s Digital Asset Securities Law, leads this venture. They plan to finance the hotel project through tokens issued by a developer – Inversiones Laguardia S.A. de C.V. (HILSV), aiming to raise $6.25 million.

These tokens offer a 10% coupon over five years, with a minimum investment of $1,000. Additionally, investors can receive free hotel accommodations based on the size of their investment.

The HILSV tokens would trade against US dollars and Tether’s USDT on the Liquid Network, a Bitcoin sidechain. Paolo Ardoino, CTO of Bitfinex Securities, emphasized the project’s importance.

Read more: What is The Impact of Real World Asset (RWA) Tokenization?

“For the first time, investors who do not usually have the opportunity to invest in such assets have the opportunity to do so, while issuers in markets which have less access to capital, are able to tap into a new asset class to raise finance,” Ardoino said.

This development has the potential to catalyze El Salvador’s capital market and introduce a major new asset class to the market. According to Jesse Knutson, Head of Operations at Bitfinex Securities, this project showcases the transformative power of Bitcoin-based capital markets.

It also contributes to El Salvador’s economic growth by creating significant employment opportunities.

The implementation of this project is expected to generate approximately 1,000 jobs during its construction phase. Moreover, it could create up to 5,000 jobs in its operational phase. The capital raise is scheduled to begin on May 13, 2024, and will last for one month.

Simultaneously, the tokenization of real-world assets is gaining momentum worldwide. Circle’s recent introduction of a smart contract for the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) exemplifies this trend.

Now, investors in BUIDL can seamlessly exchange their tokenized real-world assets for USDC. This functionality, facilitated by Circle’s new smart contract, minimizes transaction costs and enhances liquidity, illustrating the vast potential of blockchain technology. Jeremy Allaire, CEO of Circle, expressed his enthusiasm for the new developments.

“Tokenization of real-world assets is a rapidly emerging product category,” Allaire said.

Ethereum’s blockchain is set for another significant leap with the anticipated Pectra upgrade, following the successful Dencun upgrade that reduced transaction costs.

Slated for release between late 2024 and early 2025, the Pectra upgrade focuses on Ethereum Improvement Proposal (EIP) 3074 and EIP 2935. These vital modifications aim to transform how users interact with Ethereum wallets.

Ethereum Community Discusses Pros and Cons of Pectra

During a recent bi-weekly call, Ethereum developers announced that EIP 3074 would be central to the Pectra upgrade. Tim Beiko, a core Ethereum developer, confirmed its inclusion with a post on April 11.

This upgrade will introduce several smart contract functionalities to ordinary Ethereum wallets, significantly enhancing the user experience.

Read more: Ethereum EIPs: What Are They? How Are They Implemented?

According to Domothy, a researcher at the Ethereum Foundation, EIP 3074 will introduce a novel social recovery tool. This tool requires users to initially transfer asset ownership to an invoker contract via a digital signature. This contract will facilitate future transactions and enable users to reclaim their assets if they lose or forget their seed phrase.

Additionally, EIP 3074 eliminates the need for users to have Ethereum in their wallets to execute transactions. The entity behind the invoker contract can cover these costs upfront. This feature could significantly expand Ethereum’s appeal by lowering the barriers to entry for new users.

Moreover, EIP 3074 allows the batching of transactions. Users can approve multiple transactions at once, streamlining processes and enhancing efficiency. On-chain analyst Hitesh Malviya praises this upgrade for its potential impact on Web3 gaming.

“It’s going to be a game-changer for web3 gaming, where you can sign your session once and then play the whole game without worrying about interacting with smart contracts,” Malviya stated.

Uniswap developer Hayden Adams echoes this enthusiasm, describing the inclusion of EIP 3074 as a “monumental upgrade to Ethereum UX.” However, the upgrade has also raised concerns.

“Downside of EIP 3074 is that now it’ll be possible to fully drain an address (all tokens, all NFTs, all defi positions…) with only one bad signature,” DefiLlama co-founder 0xngmi said.

Read more: 9 Crypto Wallet Security Tips To Safeguard Your Assets

The name “Pectra” is an amalgamation of the “Prague” and “Electra” upgrades, impacting the execution and consensus layers of the blockchain, respectively. Similarly, “Dencun” is an amalgamation of the words “Deneb” and “Cancun.”

Elon Musk’s nascent artificial intelligence venture, xAI, has set its sights on securing between $3 billion to $4 billion in funding, eyeing a valuation of $18 billion.

Amidst a wave of investor communications, including a detailed pitch deck, xAI is vying for a spot in the fiercely competitive AI market dominated by well-established players like OpenAI and Anthropic.

Artificial Intelligence Race Heats Up as xAI Seeks Funding

According to sources familiar with the matter, Musk’s team is engaging with Silicon Valley’s venture capital community to drum up interest in xAI’s financing round. Also, these discussions, which remain confidential, highlight Musk’s aggressive push to propel xAI to the forefront of the AI revolution.

OpenAI, known for creating the groundbreaking ChatGPT, has already clinched $13 billion from Microsoft. Its competitor, Anthropic, follows with over $6 billion in funding. Despite launching xAI publicly only in July 2023, Musk’s foray into AI has gathered momentum with the release of its chatbot, Grok, and subsequent availability on his social media platform, X.

The introduction of Grok-1.5, the latest AI model, marks xAI’s ambitious roadmap to become a leading name in artificial intelligence.

Read More: How Will Artificial Intelligence (AI) Transform Crypto?

Andy Jassy, Amazon’s CEO, recently underlined generative AI’s transformative potential, equating it to pivotal developments like cloud computing and the internet. In his annual shareholder letter, Jassy envisioned generative AI as a foundational component for Amazon’s future growth alongside its retail, Prime, and AWS services.

“Generative AI may be the largest technology transformation since the cloud (which itself, is still in the early stages), and perhaps since the Internet.” Jassy Stated.

Cathie Wood’s Ark Buys into OpenAI, Betting Big on AI’s Future

Simultaneously, Cathie Wood’s Ark Investment Management has thrown its weight behind OpenAI, confirming a stake in the AI pioneer through its Ark Venture Fund. Ark’s investment, alongside bets on companies like SpaceX and Epic Games, underscores the investment firm’s conviction in AI’s market-shaping power.

Brett Winton, Ark’s Chief Futurist, anticipates a staggering $16 trillion market cap for foundation model companies by 2030, revealing the high stakes and lofty expectations in the AI arena.

“Our fund is relatively new and small and for us, honestly, the incremental progress in the foundation model space has been quicker than even we had anticipated,” Winton added.

Read More: Top 9 Artificial Intelligence (AI) Cryptocurrencies in 2024

Formerly, as Musk’s xAI gears up for its multi-billion-dollar fundraising bid, the AI industry braces for a titanic clash of innovation, capital, and vision. Evidently, with xAI’s latest developments and strategic investments, the race to lead the next technological revolution is heating up, promising seismic shifts in the tech landscape and society.

Google Cloud has escalated its blockchain involvement by participating as a node operator on the EigenLayer mainnet on Tuesday.

This marks a pivotal moment in the tech giant’s Web3 journey.

EigenLayer Receives Interest From Google Cloud Upon Mainnet Launch

This advancement, announced by Sam Padilla, Web3 product manager at Google Cloud, highlights the tech behemoth’s commitment to the evolving restaking protocol ecosystem. Moreover, Google Cloud has also been involved in the EigenLayer testnet since November 2023.

EigenLayer’s innovation enables Ethereum (ETH) staking across diverse platforms, a capability that went live for stakers in June. Now, as a mainnet node operator, Google Cloud has transitioned from participating in EigenLayer’s “Operator Working Group” to playing a critical role in the network’s operation.

Google Cloud has been proactive since initiating its blockchain division in early 2022. It launched the Blockchain Node Engine, initiated a web3 startup program, and forged alliances with key protocols like Polygon and LayerZero. Consequently, its venture into EigenLayer represents a strategic expansion of its Web3 footprint.

Read more: What Is EigenLayer?

Amid concerns about large cloud services affecting decentralization, EigenLayer maintains a balance by allowing diverse participation in its operator registry. Therefore, Google Cloud’s involvement enhances the protocol’s robustness and inclusivity.

Furthermore, the recent mainnet activation introduced EigenDA, a novel data availability solution. Although the EigenLayer mainnet launch included some limitations, such as not including slashing, it signifies a major step toward full protocol maturity.

“We are allowing the EigenLayer marketplace to develop and stabilize before introducing in-protocol payments and slashing to mainnet later this year,” EigenLayer explained.

The initiative has accelerated EigenLayer’s growth, with its total value locked (TVL) exceeding $13.33 billion, ranking it as the second-largest DeFi protocol. The liquid restaking tokens (LRTs) narrative is also revolutionizing DeFi, with EtherFi at the forefront, boasting a TVL of over $3.82 billion.

Significantly, venture capital interest in such emerging blockchain innovations is surging. For example, Andreessen Horowitz invested $100 million in EigenLayer in February, highlighting the sector’s potential. Additionally, Binance Labs’ investment in Renzo underlines the vitality of the liquid restaking domain.

Read more: Ethereum Restaking: What Is It And How Does It Work?

Renzo Protocol serves as EigenLayer’s restaking hub, integrating Ethereum smart contracts to streamline the restaking process. It is the second largest liquid restaking protocol with a TVL of nearly $3 billion.

Amidst a spate of failed transactions and its current effort to fix the issue, Austin Federa, Head of Strategy at Solana Foundation, announced the passing of a governance proposal called “Timely Vote Credits.”

The proposal, which gained approval from 53% of validators with an impressive 98% voting in favor, seeks to enhance the speed of transaction confirmations.

How Does Solana’s “Timely Vote Credits” Proposal Work?

Zantetsu of Shinobi Systems, a Solana validator, designed the “Timely Vote Credits” proposal. The proposal introduces changes to the method used to calculate vote credits earned by validator votes.

The current Solana (SOL) validators award mechanism is one vote credit for each “rooted” slot (a fully committed block), irrespective of the timing of their vote. However, such a mechanism enables a loophole where validators could delay votes without penalty.

Read more: 6 Best Platforms To Buy Solana (SOL) in 2024

If implemented, The “Timely Vote Credits” proposal would award credits based on the “latency” of a vote. Latency refers to the delay between creating a slot and the arrival of the validator’s vote. Validators who vote faster would earn more credits, discouraging intentional delays.

Moreover, the proposal includes a built-in grace period of three slots. This is to even out the playing field for validators situated further from network hubs.

Despite the enthusiasm, this proposal still needs to address questions about its impact on transaction confirmation speeds. Yet, to date, Federa has not elaborated on how the change will directly impact transaction speeds in Solana.

Combined with the developers’ promise to rectify the failed transaction issues, the implementation of this proposal could potentially offer a comprehensive solution to the network’s challenges.

On April 5, roughly 75% of Solana network transactions failed, according to the data from a Dune dashboard. Users reported delays, error messages, and complete transaction failures despite retries. However, the percentage has decreased to 57.41% at the time of writing.

Mert Mumtaz, CEO of Helius Labs — a leading RPC & API platform in Solana, explained that the network’s issues are attributed to specific implementation bugs rather than inherent design flaws. Specifically, Mumtaz mentioned that the problem stemmed from a flawed implementation of the QUIC networking protocol.

Anatoly Yakovenko, co-founder of Solana Labs, also commented on the situation:

“Dealing with congestion bugs sucks so much more than total liveness failure. The latter is one and done, bug is identified and patched and chain continues. The former has to go through the full release and test pipeline.”

Read more: 13 Best Solana (SOL) Wallets To Consider In March 2024

Developers target April 15 to implement a fix for an “implementation bug” believed to be the root cause of the failure surge.

Despite the recent woes, Solana’s native token (SOL) has had a phenomenal 2024. Starting the year at $101.33, SOL briefly surged past $200 before settling around $172. According to data from CoinGecko, SOL’s current price has shown an 8.8% decline over the past week.

Ripple, the company behind the XRP Ledger, has announced its entry into the stablecoin market, a sector currently dominated by players like Tether’s USDT and Circle’s USDC.

The new stablecoin, yet to be named, will be pegged to the US dollar and is expected to launch later this year.

Ripple to Launch a Stablecoin

Ripple’s offering aims to distinguish itself by being “100% backed by US dollar deposits, short-term US government Treasuries, and other cash equivalents.” This move places a strong emphasis on security and stability.

According to Ripple, the decision to venture into stablecoins comes at a time when the market is experiencing significant growth. Indeed, projections indicate it could expand to over $2.8 trillion by 2028. The company plans to deploy its stablecoin on the XRP Ledger and the Ethereum blockchain, utilizing the ERC-20 token standard for broader compatibility and utility.

This move into stablecoins is noteworthy for the company, particularly as Ripple navigates a legal battle with the US Securities and Exchange Commission.

Brad Garlinghouse, Ripple’s Chief Executive Officer, highlighted the strategic importance of the new stablecoin. He emphasized the aim for stability and transparency, noting plans for monthly public audits by a reputable accounting firm to ensure user accountability and trust.

“Launching a stablecoin is a natural step for Ripple as we bridge the gap between traditional finance and crypto. We have the years of experience, regulatory footprint, a strong balance sheet, and a network with near global payout coverage, to offer the best of crypto-enabled payments using XRP and our (future) stablecoin together,” Garlinghouse said.

The stablecoin market has become increasingly popular among investors and traders seeking to avoid the volatility associated with traditional cryptocurrencies like Bitcoin and Ethereum. Ripple’s entry signifies a potential shift, challenging the dominance of established stablecoins such as USDT and USDC.

Read more: A Guide to the Best Stablecoins in 2024

Ripple’s approach to its stablecoin, focusing on enterprise and banking customers, reflects a compliance-first mindset. However, with USDC currently leading among compliance-focused consumers, Ripple’s stablecoin faces the challenge of establishing itself in a competitive market.

Fantom is the latest Layer 1 blockchain actively courting meme coins amid the wave of explosive growth these assets have had.

Andre Cronje, the network’s founder, disclosed his ongoing examination of meme coins and the potential potential integration into Fantom.

Fantom’s Andre Cronje Eyes Community Safe Meme Coins

Cronje revealed that he is currently working on crafting a framework for launching, nurturing, and safeguarding community-centric meme coins. However, this endeavor has left him feeling exasperated, owing to the inherent volatility and limited utility linked to these digital assets.

Still, this initiative hints at Fantom’s imminent entry into the expanding array of smart contract networks facilitating the easy creation and exchange of memecoins.

Since the beginning of the year, meme coins have witnessed a spike in interest among cryptocurrency investors. Notably, various blockchains such as BNB Chain and Avalanche have rolled out incentives to entice meme coin developers into these networks.

Blockchain analytics platform IntoTheBlock reported that the collective value of this sector has nearly tripled, reaching a market capitalization of $56 billion. Surges in several Solana-based meme coins like Dogwifihat (WIF) and Book of Meme (BOME) fueled this uptick. Meanwhile, other established meme coins such as Dogecoin, Shiba Inu, and Pepe have also witnessed a massive rise this year.

Read more: 7 Hot Meme Coins and Altcoins that are Trending in 2024

Remarkably, meme coins have flourished within ecosystems featuring lower fees. For example, Solana has witnessed multiple days of higher trading volumes than Ethereum in this quarter alone. This heightened network activity has significantly propelled trading on Solana to record levels.

However, the proliferation of automated bots has impacted Solana’s network performance.

“Demand for meme coins hit the highest since 2021 this quarter. Despite interest rates remaining high and no stimmy checks being sent out, appetite for seemingly useless crypto-assets has been very strong. It’s unclear whether this is due to the economy getting overheated, or perhaps just growing “financial nihilism”, but meme coins have become the main subject in crypto over the last few months,” Lucas Outumuro, the head of research at IntoTheBlock remarked.

Despite the hype surrounding meme coins, several concerns persist, particularly regarding their security and lack of practical application.

These concerns prompted Ethereum co-founder Vitalik Buterin to discuss the potential societal benefits of meme coins. Buterin emphasized that these assets could be designed to uplift and unite communities and serve as instruments for social good and entertainment.

Ubunation, a web3 charity, has partnered with UNDER Lea’s TRUST, a non-profit organization dedicated to enhancing educational access in Kenya, to launch an innovative charitable fundraising campaign where 10,000 NFTs will be auctioned off to support the construction of a primary school in Nairobi.

The “ULT Dream Careers Lion Charity Collection Campaign” will offer supporters the opportunity to buy 10,000 unique, limited-edition NFT images of lions, the official animal of Kenya.

The campaign not only symbolizes a significant stride towards improving education for underprivileged children but also marks a unique blend of technology and philanthropy. By purchasing one of these exclusive lion digital collectibles for $20, donors contribute directly to a $200,000 goal set to empower the youth of Nairobi with education and a promise of a better future.

Speaking at the launch on this new initiative, Heissam Hartmann, Founder of Ubunation, said:

“Through this campaign, we are not just creating a collectible; we are building dreams and paving the way for a brighter future for the children of Nairobi. This is a testament to what we can achieve when technology meets compassion and collective action.”

Lea Kabitzsch, Founder of UNDER Lea’s TRUST, added:

“Education is the cornerstone of development and empowerment. With every NFT sold, we move one step closer to turning the dream of accessible education for all into a reality in Nairobi. This school is not just a building; it’s a beacon of hope and opportunity for countless children.”

Readers interested in buying one of these charitable NFTs, or anyone seeking more information about this transformative initiative, can visit https://ubunation.com/ult/ for all the details.