Innovations in Blockchain: A Look at Recent Developments
This article explores the latest advancements in blockchain technology, including the emergence of alternative identity systems and decentralized finance projects.
Welcome to The Protocol, CoinDesk's weekly summary of significant advancements in cryptocurrency technology. In this issue:
Why the TON Ecosystem Could Be Crypto's Dark Horse in 2025
- Imagine Worldcoin … but without the creepy eyeball scans
- Aave weighs expansion to a Bitcoin L2
- ENS, on top of Bitcoin
- What Mark Zuckerberg can teach DAOs about governance
Network news
THE EYES DON'T HAVE IT: Over two years ago, Sam Altman, co-founder of OpenAI, launched Worldcoin, a blockchain project known for its distinctive metal orb used to scan eyeballs. Recently rebranded as "World Network," the platform provides users with digital passports — verified through the iris scans — to help online services differentiate humans from bots in an AI-driven internet. Now, as CoinDesk's Sam Kessler reported this week, a group of crypto veterans, including the co-founders of decentralized finance juggernaut Lido, are preparing to launch "Y," a blockchain identity platform aimed squarely at competing with World Network.
CRAWLING THE WEB, AS IT WERE: Aave, the largest decentralized-finance (DeFi) lending platform, is surveying its community to gauge interest in deploying on the Bitcoin layer-2 network Spiderchain. This highlights the appetite for bringing functionality common in other crypto ecosystems to the original blockchain. The BTC price recently soared above $90,000.
ENS ON BITCOIN? Spaces Protocol, a decentralized naming system built on Bitcoin, is set to launch on mainnet soon. Founder Mike Carson claims that Spaces improves on ENS in several ways, including being designed to scale without a separate foundation or token.
MORPHEUS AWAKENS: A decentralized AI network called Morpheus aims to curtail the negative side effects of AI, such as centralization and censorship, announcing its launch recently.
Conclusion
The advancements in blockchain identity and DeFi present exciting opportunities for both individuals and the broader technology ecosystem. Stay tuned for further developments.
