Are you curious about the latest in the crypto world? Here’s a rundown of today’s key trends and events affecting Bitcoin prices, blockchain technology, DeFi, NFTs, Web3, and crypto regulations.
Renzo expands REZ governance token to Solana via Wormhole
Renzo Protocol has announced the launch of its governance token, REZ, on the Solana blockchain to strengthen its presence in the Solana ecosystem and utilize Wormhole's native token transfer framework.
Originally deployed on Ethereum, REZ will be transferred to Solana through Wormhole’s framework. The multichain protocol’s Guardian network ensures seamless and secure cross-chain attestations, facilitating problem-free token transfers between Ethereum and Solana.
"By leveraging Wormhole's open NTT framework, Renzo is establishing the foundation for a dynamic multichain ecosystem for REZ," stated Robinson Burkey, COO and co-founder of the Wormhole Foundation. "This integration broadens the reach of Renzo's LRT technology and introduces Renzo to a new user base on Solana and beyond," he added.
LRT, "liquid restaking token," refers to tokens minted to provide liquidity while participating in restaking.
According to a press release, REZ on Solana will maintain a 1:1 peg with REZ on Ethereum and comply with Solana's token standards, ensuring compatibility with the blockchain's decentralized finance ecosystem.
REZ’s initial liquidity will be provided by Solana’s leading automated market makers. The Renzo team also indicated that the token might be integrated with Solana’s lending protocols, potentially allowing it to be used as collateral. Additionally, liquidity incentives will be available for REZ/SOL and REZ/USDC pairs.
OpenSea Raises Eyebrows with Ripple Snub
OpenSea, the largest NFT marketplace, has raised concerns after failing to mention Ripple in its response to the U.S. Securities and Exchange Commission's (SEC) Wells Notice.
OpenSea expressed surprise at the SEC's "sweeping move" targeting creators and artists in its statement.
A Wells Notice informs the recipient of an ongoing investigation and indicates that the SEC may take enforcement action, though such an outcome is not guaranteed.
OpenSea contends that the SEC's actions could jeopardize thousands of creators with what it describes as "saber-rattling."
The SEC's recent actions have predictably sparked a strong backlash within the community.
Crypto analyst Adam Cochran has criticized the SEC's move, calling it "easily one of the dumbest Hail Marys" by SEC Chair Gary Gensler.
Billionaire Mark Cuban has also criticized the SEC, showing support for OpenSea.
In response, OpenSea has pledged $5 million to cover legal fees for NFT creators.
Chain abstraction is an ‘important evolutionary growth’ says Particle head of growth
In the third episode of "The Crypto Beat," Tim Copeland, editor-in-chief of The Block, engaged in a discussion on the emerging topic of chain abstraction with Ethan, head of developer relations at Particle; Burnt Banksy, founder and CEO of Xion; and Vishal Chawla, head of crypto ecosystems at The Block.
Ethan explained that while the definition and scope of chain abstraction are still under debate, it generally refers to "the removal of complexity associated with most on-chain interactions today, particularly in a multichain environment." He highlighted that the complexities involving users' relationships with specific blockchains and the need for gas tokens and balances on each chain are now "essentially removed." This allows users to interact with applications in a manner that resembles Web2, which Ethan described as "a significant evolutionary step for the ecosystem."
Burnt Banksy shared similar views, emphasizing that the primary objective of those working on chain abstraction is to make cryptocurrency accessible to the average user without requiring knowledge of its complexities. He noted that the ultimate goal is to bring more users into the space.
Banksy further remarked that after eight years in the crypto industry, the current Xion testnet is the first platform his parents could meaningfully engage with. "I believe there is a lot of promise in that," Banksy stated.
Both guests drew comparisons between blockchain technology and Web2 infrastructure, pointing out that most users are unaware of the complex technologies underlying popular apps and platforms. Ethan added that application developers should make the decision on which blockchain to deploy.
BitMart to Host “Night of Crypto Wonders” High-End Web3 Event at TOKEN2049 Singapore
Victoria, Mahe, Seychelles, August 28, 2024 (GLOBE NEWSWIRE) — The prestigious industry networking event, ‘Night of Crypto Wonders,’ co-hosted by BitMart, Axlflops, Fundamental Labs, VeChain, and MetaEra, is scheduled to take place on September 18, 2024, at 7:00 PM at the Marina Bay Financial Centre in Singapore.
This distinguished side event of TOKEN2049 Singapore will delve into cutting-edge topics such as Web 3.0 industry infrastructure, AI applications, blockchain investment, and public blockchain ecosystems. Esteemed professionals and leading experts in the Web3 industry are invited to explore emerging trends, share valuable investment insights, and participate in in-depth discussions.
As a significant side event of TOKEN2049 Singapore, the ‘Night of Crypto Wonders’ will convene industry veterans and key opinion leaders in the Web3 space, offering attendees unparalleled networking opportunities and luxurious experiences.
The event is co-hosted by the renowned digital assets trading platform BitMart, the AI computing platform Axlflops, the blockchain investment firm Fundamental Labs, the leading enterprise-friendly blockchain platform VeChain, and the esteemed Hong Kong media outlet MetaEra. Each co-host will present distinguished speakers from their respective fields who share the latest and most comprehensive industry insights.
Attendees of this exclusive event can engage in meaningful dialogues with leading figures in the Web 3.0 space and other sector experts, covering areas such as blockchain investment, trading and liquidity, public blockchain ecosystems, and AI development. The evening will also feature breathtaking 360-degree panoramic views of Marina Bay from the Marina Bay Financial Centre.
Anthropic’s ‘Artifacts’ turn AI conversations into valuable documents.
Anthropic AI has recently introduced its “Artifacts” feature for general use by paid and free Claude users. This feature is also available on iOS and Android devices for the first time.
The Artifacts feature automatically prompts the Claude artificial intelligence model to extract and separate specific information from user conversations. This information is displayed in a separate window and may include relevant details, outlines, graphs, code snippets, overviews, and other potential applications.
This update coincides with Anthropic’s involvement in a contentious debate with California lawmakers over a controversial bill. As reported by Cointelegraph, Anthropic played a role in the decision-making process for California bill SB-1074.
The bill, which aims to hold AI developers accountable for the harm caused by their models, is awaiting approval or veto from Governor Gavin Newsom, with a deadline of August 31.
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