Welcome to The Protocol
CoinDesk's weekly wrap-up of the most important stories in cryptocurrency development.
Overview of the Issue:
- Sony's blockchain is drawing mixed reactions due to memecoin censorship.
- Bubblemaps is releasing a token and enhancing blockchain tracking.
- Babylon Labs promotes interoperability through a Bitcoin bridge.
Network News
SONY EMBRACES BLOCKCHAIN, BATTLES MEMES: Sony has officially introduced "Soneium," a new blockchain platform aimed at connecting Web2 and Web3 users. However, complaints arose regarding its restrictions on memecoin trading, stirring debate about the true decentralization of the product. Users managed to bypass these restrictions, showcasing the adaptability of crypto enthusiasts.
BUBBLEMAPS WANTS MORE CRYPTO SLEUTHS: The blockchain analytics service Bubblemaps is set to launch its own token (BMT) and a new "Intel Desk" designed to empower its users in investigation initiatives.
BABYLON BRINGS ZK MOMENTUM: Babylon Labs is collaborating with Fiamma to establish a trust-minimized bridge that enhances Bitcoin's interoperability in the Cosmos network. By leveraging zero-knowledge technology, they aim to expand Bitcoin's utility across other blockchains.
BITFINEX: U.S. authorities are moving forward with plans to return a significant amount of Bitcoin stolen during the 2016 Bitfinex hack, following a jail sentence for hacker Ilya Lichtenstein.
Upcoming Events
- Jan. 20-24: World Economic Forum, Davos, Switzerland.
- Jan. 21-25: WAGMI Conference, Miami.
- More events to follow throughout early 2025.
Stay informed about the latest developments in cryptocurrency by subscribing to The Protocol newsletter.
