26 May

The Rayonism hackathon wrapped up last week with the Nocturne testnet – a multi-client Merge testnet. Dozens of nodes and thousands of validators built and secured a beacon chain that provided native support for a rich Ethereum application-layer with accounts, contracts, and user transactions.

The Rayonism hackathon allowed teams to rapidly prototype core Merge designs and to better understand how this merged system will work in practice. All teams now have a deep familiarity with the structure of the Merge, and a clear visual on how their software will evolve in this coming year.

Client teams are now focused on this summer’s two forks – London and Altair – while researchers are back to Merge spec refinements and testing. After the summer upgrades, teams will shift their focus to the Merge, and begin tackling the production engineering with an eye toward public testnets.

People have flocked to high-yield crypto environments as interest rates for traditional investments are staying low by comparison. It’s been nearly a year since the DeFi summer, but the optionality has only increased, along with the amount of “money legos” that are being combined in different ways.

The fact that everyone can participate in affecting what the interest rate will be in these markets is a very big thing because, traditionally, big interest-rate movements have been decided by the banking industry; for example, by a few people sitting down with a room in London.

Prince said he saw real value in using interest rates to translate something really powerful that’s happening in the crypto ecosystem in the terms with which everybody is already familiar.

Everybody knows what an interest rate is. And everybody knows that earning 8.6% on something is better than earning 0.2%.”

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The announcement Monday induced a flurry of debate as to whether such a “cabal” ran counter to Bitcoin’s underlying principles of decentralization. One of the founding members said the council has no intention to change “the nature of Bitcoin.” Still, the closed-door proceedings rubbed many the wrong way.

If you have a completely open network and the big open players on this open network openly and without any coercion decide to collaborate with each other, is that decentralization? It’s a little bit of a definitional issue.

As long as the network remains open, however, many concerns should be assuaged, he said.”

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Chinese miners have been scrambling to look for overseas sites to host their mining machines following the State Council’s warning that it may crack down on crypto mining due to environmental concerns.

I have been having conversations all weekend, starting since last Friday, with Chinese miners looking to co-locate in the U.S. I think the consensus right now is there are too many uncertainties to tell if this is actually going to take place or not.

Cryptocurrency exchange Huobi has shuttered its miner hosting services in mainland China. Crypto mining pool BTC.TOP suspended its operations in China and HashCow said it will stop buying new rigs.”

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“Professor George Church, co-founder of Nebula Genomics and Professor of Genetics at Harvard Medical School, is minting an non-fungible token (NFT) of his genomic data, a first for the world of NFTs. The inspiration for the NFT comes, in part, from thinking about how genomic and health data can be fairly shared and monetized.

While NFTs are most widely known for popularity with artists, they are expanding into other areas. They’ve been used as a mechanism for selling cybersecurity exploits and for proving your location in the Internet of Things.

Church said he sees a future where individuals can choose to license their data to third parties as NFTs and set their own rules and permissions for who has access to that data.

We’ve partnered with Oasis to develop technology where individuals can selectively grant permission to their data. This permission can also be revoked. Essentially, it will be possible to temporarily license data to third parties without forever giving it up.”

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“Decentralized infrastructure provider SpaceChain is expecting to send a number of commercial services into orbit next month.

The first will see SpaceChain’s “space node” launched and ultimately installed at the International Space Station (ISS). That will act as a first demonstration of Ethereum technology on SpaceChain’s existing hardware aboard the ISS. The firm said having an Ethereum node in space brings physical security when transacting in crypto assets.

The security of space infrastructures also ensures the independence of Ethereum contract operation from centralized terrestrial servers, thus providing more efficient smart contract operation and greater application scenarios.

The second launch, expected June 24, will bring about the installation of Bitcoin nodes created for cryptocurrency exchange Biteeu and Nexus Inc. on a YAM-2 satellite.”

The tower will incorporate a wireless network aiming to improve access to digital ledgers. Anyone within a certain radius of the tower would have access to blockchains, irrespective of their cellular or internet connection. The plan is for the network to be made available on more skyscrapers, including some outside of Manhattan.

This one building will be able to connect — sort of like a hand radio operator — everyone in New York City to a crypto trading wireless communication.”

“China’s BSN appears to be fired up over private/permissioned or “consortium chains,” citing applications across industry, government and areas like medicine. Red Date’s He showed off the BSN architecture for the first time in public, albeit at a “very early stage.” Unlike blockchain projects in the West, China’s BSN initiative is backed (and guided) by the government.

Do not put 100% of your resources into public chains and cryptocurrencies. Just give a little bit of money and resources to the underlying technology and research.”

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