1 September

“If you want to build over Ethereum today, and are held up by scale and rising gas prices, if you want to build a real business that requires a production-grade toolchain with high feature velocity, do reach out to us.

The Great Reddit Scaling Bake-off was a significant milestone for us at StarkWare. Not so much because of what we achieved — 300,000 transactions in a single STARK proof — but rather because of how we achieved it. The Reddit Bake-off was the first time we deployed Cairo, our production-grade Turing-complete¹ platform for producing STARK proofs for general computation, to Ethereum Mainnet.

Cairo is the first production-grade proof system implementing a Turing Complete von Neumann Architecture: each Cairo program P resides in the virtual machine’s memory, alongside the data D processed by it.”

“The Acala team wants to build a DeFi powerhouse for the Polkadot ecosystem with a host of financial primitives. Its first product is a cross-chain-capable, multi-collateralized, and decentralized stablecoin Acala Dollar (aUSD). Acala has also shipped a testnet lending protocol and a decentralized exchange.

Su said the team had considered using the Cosmos Network, another cross-blockchain protocol, but ruled it out given a lack of security guarantees that make bootstrapping a DeFi product harder.

With approximately 14,500 new accounts, 142,000 transactions, and $52 million total value locked during a 3-week testnet campaign, Acala is likely the most prominent and active parachain on Polkadot.

We hope to deploy smart contracts and Link oracles on Acala in the near future.”

See Also: Aave’s path to decentralization hopes to attract institutional investors

“Secret Network announced its intention to add privacy-based secret contracts to its mainnet on September 15. Secret contracts could enable many different blockchains to utilize private data in decentralized apps without compromising their user’s personal security.

Secret contracts allow for programmable privacy, allowing for arbitrarily complex data privacy controls to be implemented inside applications.”

Joseph Lubin on JPMorgan’s Quorum (Good Interview)

“Binance Card, a newly launched cryptocurrency debit card powered by Binance and the Binance-owned crypto commerce company Swipe, could soon enter the United States.

USD checking accounts will be enabled on the platform through a partnership with Evolve Bank & Trust — a banking institution operating in the United States. The new feature is expected to be available ‘in [the] next few weeks.‘”

“The Bank of Korea (BoK) is now seeking a consulting partnership to bring the second phase of its CBDC plan to fruition. A pilot is planned for late 2021.

The successful local company would assist the central bank in building the architecture for the CBDC, which is being prepared in the face of China’s drive to be the first major nation to launch a digital version of its fiat currency.”

“CoinMarketCap CEO Carylyne Chan has left the company today. Both Spencer Yang, vice president of operations, growth and revenue, and Jeremy Seow, vice president of product, have also left the company within the last two weeks.

The departures come just a few months after the company was acquired by crypto exchange Binance. It saw controversy after a major change was made on the site that pushed Binance to the top of its rankings.”

“The question centered around whether crypto earned by an individual for performing a microtask through a crowdsourcing or similar platform was a taxable income.

Yes, the convertible virtual currency received is taxable as ordinary income.”

“At a high level, Torus splits and distributes sensitive data needed to construct a user’s private key between the user and nodes on the Torus network, which includes Binance, Ethereum Name Service (ENS), Etherscan, Matic Network, Ontology, Skale, Tendermint Core and Zilliqa.

Similar to other 2FA systems, as long as the user has access to two out of three of their secret shares, they will be able to retrieve their private keys and login.

Our goal is to make key management convenient to the mainstream user – my parents, for example – to be able to use crypto, while still retaining the level of security and non-custodiality which is needed for decentralized applications.”

“Bitcoin (BTC) sidechain RSK will soon be equipped with Chainlink (LINK) oracles, enabling developers on the smart contract-enabled blockchain to tap into market price feeds and other off-chain data to build their applications. It is currently live on testnet and expected to be launched on mainnet in less than a month.

RSK is a Bitcoin sidechain that uses a pegged version of BTC as its native currency. The peg process is facilitated by a federation that maintains custody, similar to solutions adopted by WBTC or Liquid.”