Insights from The Protocol
This article is part of The Protocol, CoinDesk’s weekly exploration into the tech behind cryptocurrencies. Subscribe here to receive it in your inbox every Wednesday.
Key Stories:
- Polyhedra’s Response to Liquidity Attacks: Polyhedra has vowed to restore confidence after its ZKJ token’s price sank over 80% due to alleged coordinated attacks. The firm plans to implement a buyback strategy, assisting in stabilizing prices and preventing further assaults.
- Launch of Optalysys’ Blockchain Server: The U.K.-based Optalysys has unveiled its innovative blockchain server that effectively processes encrypted data without needing to decrypt it, utilizing Fully Homomorphic Encryption technology.
- Ink Foundation’s Token Airdrop: The Ink Foundation is set to airdrop its INK token in a bid to enhance its on-chain capital market strategy, beginning with early users of its designed protocols.
Additional Updates:
- SEC Developments on Tron DAO: Recent filings detail the new governance structure involving Justin Sun and affiliations with SRM Entertainment.
- JPMorgan’s USD Deposit Token: The banking giant has embarked on testing a new deposit token on Ethereum’s layer 2 network, marked as a significant step in crypto banking.
- Cyberattack on Nobitex: The Iranian exchange suffered a $90 million hack by a group linked to Israel, resulting in significant security concerns.
Regulatory Updates:
- The U.S. Senate recently passed a stablecoin bill aimed at regulating digital assets, marking a pivotal moment in the ongoing legislative efforts in cryptocurrency policy.
