Welcome to The Protocol, CoinDesk’s weekly wrap-up of the key developments in cryptocurrency technology.
In this issue:
- Vana launches token standard
- Hashgraph to debut private blockchain
- ASICs will look more like servers
- An interview with Gensyn’s Ben Fielding
Network News
VANA’S DATA-BACKED TOKEN STANDARD: Crypto enthusiasts might have heard of the ERC-20 token standard, which provides guidelines to ensure that tokens created on the Ethereum smart contract blockchain are compatible and can interact with other tokens and applications within the network. A similar standard for data-backed tokens, called VRC-20, has now emerged. Vana, an EVM-compatible Layer 1 blockchain that helps users monetize personal data by bundling it into DataDAOs for AI model training, introduced the new standard early this week to promote trust and transparency in the market for data-backed digital assets. The VRC-20 standard design includes specific criteria such as fixed supply, governance, and liquidity rules while ensuring real data access by tying tokens to actual data utility. Additionally, it promotes continuous liquidity through rewards that ensure market stability. “This isn’t speculation. This is real financialization of data,” Vana noted on X. Vana launched its mainnet in December, with VANA as its native cryptocurrency. Since then, the network has onboarded over 12 million data points through multiple DataDAOs, reflecting strong demand for user-owned data. DataDAOs or data liquidity pools are decentralized marketplaces that bring data on-chain as transferable digital tokens. DLPs are where data is contributed, tokenized and made ready for use in applications such as AI model training. — Omkar Godbole Read more.
HASHGRAPH LINES UP Q3 PRIVATE CHAIN: Hashgraph, the blockchain development firm focusing on the Hedera network, is building a private, permissioned blockchain for enterprises in highly regulated industries with plans to debut in the third quarter of 2025. HashSphere, built with Hedera’s technology, aims to bridge private and public distributed ledgers, ensuring compliance with regulations while maintaining interoperability. According to the company, Hashgraph is looking to provide services to asset managers, banks and payment providers seeking secure, low-cost cross-border transactions with stablecoins. Read more.
ASICS TO BE MORE LIKE SERVERS: ASIC manufacturers are increasingly betting on a hydro-cooled server rack design to become a substantial portion of bitcoin mining fleets, leaning into the “direct-to-chip” cooling for further efficiency gains. This also means miners could optimize their supply chains by adopting server designs that are becoming standard practice in the large data center industry. — Colin Harper Read more.
GENSYN CEO BEN FIELDING: Ben Fielding co-founded Gensyn in 2020, focusing on decentralized AI solutions. His vision includes building a network for machine intelligence that integrates blockchain with AI technologies. — Jeff Wilser Read more.
In Other News
- Web3 lacks a dedicated memory layer, making its current architecture inefficient and difficult to scale. Random Linear Network Coding (RLNC) offers a solution. Read her op-ed here.
- Ripple has integrated its stablecoin into its cross-border payments system to enhance adoption significantly. — Kris Sandor Read more.
Regulatory and Policy
- The SEC has dropped or paused over a dozen ongoing cases since new appointments were made recently. — Nik De Read more.
Calendar
- April 8-10: Paris Blockchain Week
- April 30-May 1: Token 2049, Dubai
- May 14-16: Consensus, Toronto
- May 20-22: Avalanche Summit, London
- May 27-29: Bitcoin 2025, Las Vegas
- June 30-July 3: EthCC, Cannes
- Oct. 1-2: Token2049, Singapore
