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Blockchain weekly, thinking about the application landing and value of token economy industry Web3 - Web (n)?

Time : 05/07/2022 Author : am3yij Click : + -
        After giving up the illusion of "world computer", developers realized that high-value transactions are very rare, and not all transactions need to be recorded on the chain. For example, chat records and game operations do not need to be recorded on the blockchain, and a large number of user data do not need to be recorded on the chain. If the blockchain is only used as a trust machine rather than a global computer by taking advantage of the decentralized nature of the blockchain and its non tamperability, the performance of the existing public chain is completely sufficient. Think three: Web (GLM) = web (x) + web (y) what is the significance of the continuous evolution of this formula to the value Internet (China Enterprise News observation network).
 
        In the golden financial news, Elvira nabiullina, President of the Russian central bank, said that cryptocurrencies can be used for cross-border or international payments, but not domestic payments. According to nabiullina, cryptocurrency can be used for cross-border or international payments only if it does not "Penetrate" into the domestic financial system of Russia. Nabiullina pointed out that "cryptocurrencies should not be traded in an organized market because these assets are too unstable and too risky for potential investors". The central bank governor believes that digital assets must comply with all the requirements and policies formulated to protect investors.
 
        Therefore, all assets listed on the exchange must comply with the information disclosure requirements. Earlier, the Russian Ministry of Finance said that if Russian laws recognize digital assets as property, it would consider using cryptocurrencies in international trade. According to the news on June 17, binanceceocz said in an exclusive interview with fortune magazine that the downturn of the encryption market may last for four years, but it also means opportunities for binance. CZ said that binance has sufficient funds and does not need financing. This year, binance will continue to expand investment. On June 17, the Federal Reserve pointed out in its monetary policy report that the collapse of some stable currencies and the recent performance of the crypto market showed the fragility of the crypto market structure.
 
        In addition, the increasing use of stable currency to meet the margin requirements of other cryptocurrency leveraged transactions may amplify the volatility of stable currency demand and increase the redemption risk. On June 17, it was reported that the president of Panama had rejected the law regulating bitcoin, on the ground that "it needs to adapt to the norms regulating our financial system". The bill will be returned to the national assembly for debate. Earlier, at the end of April, the Panamanian legislature approved this bill to regulate the use of cryptocurrencies. Through the bill, digital assets such as bitcoin, Ethereum, ripple coin, litecoin and stellar coin will become effective payment methods for "any legal civil or commercial operation", including payment of taxes, fees and duties to the government.
 
        The act also formally recognizes Dao (decentralized autonomous organization) as a legal entity and sets a framework for the country to issue token securities and commodities (such as gold and silver) through securities token issuance (STO). (Decrypt)。 It was reported on June 16 that on June 16, the 2022 Shanghai Global Investment Promotion Conference and the launching ceremony of the "tidal Pujiang" global sharing season for investment in Shanghai were held in Shanghai. The conference focused on the investment promotion plans for four "new tracks" of metauniverse, green and low-carbon, intelligent terminals and digital economy. Zhang Hongtao, chief engineer of Shanghai Municipal Economic and Information Commission, said at the news briefing after the ceremony that it is expected that by 2025, the scale of the city's green low-carbon industry will strive to exceed 500 billion yuan, the scale of the yuan universe industry will exceed 350 billion yuan, and the scale of the intelligent terminal industry will exceed 700 billion yuan.
 
        Golden financial news, Bank of England governor Andrew & middot; Bailey won when the cryptocurrency "collapsed". Bailey announced his position on cryptocurrency in parliament on Monday afternoon, saying that we saw "another explosion" in the cryptoexchange today, and reiterated that the asset class "has no intrinsic value". Bailey is not shy about his contempt for cryptocurrency. He has warned that the cryptocurrency industry lacks value and said that bitcoin is not a practical payment method. Last December, he also urged the Bank of England to be "particularly cautious" about cryptocurrencies. According to the news on June 13, at the meeting on "restoring fairness in the virtual asset market and investor protection" held today, sung IL Chung, chairman of the ruling Democratic power policy committee of South Korea, said that he would promote the formulation of the basic law of the blockchain platform, including measures to protect investors from the recurrence of the Luna incident.
 
        Cheng Yizhong said that we will formulate a legislation called the basic law of blockchain platform to support the fourth industrial revolution. The previous government said that virtual assets are neither money nor assets, but virtual assets have entered our daily life, accounting for a huge proportion and categories. It is reported that the virtual assets committee of the national strength of the Republic of Korea, the Financial Services Commission of the Republic of Korea, the financial supervision authority of the Republic of Korea, the financial intelligence agency and the five crypto exchanges of the Republic of Korea attended the meeting. (Edaily)。 On June 13, an official of Iran's national power transmission and distribution company said that the government would introduce new measures to crack down on illegal cryptocurrency mining, and those found to have conducted illegal cryptocurrency mining for many times would be sentenced to imprisonment.
 
        Since July 2019, Iran has managed cryptocurrency mining as a legal industry. Miners need to obtain permission from the Ministry of industry, mining and trade and pay higher electricity charges. The difference in electricity prices leads to frequent illegal mining activities. Previously, 6914 illegal mining centers have been banned, and the power consumption of the above units is close to 645 MW, causing 380 billion rials (about US $1.3 million) loss to the national power transmission and distribution company of Iran. The official said that the new measures are also aimed at encouraging the development of renewable energy. The mining center can establish renewable energy power plants by itself or reach power supply agreements with renewable energy power plants. At present, there are 56 legal cryptocurrency mining centers in Iran, with a total power consumption of about 400 MW.
 
        (economic and Commercial Department of the Embassy in the Islamic Republic of Iran). On June 16, it was reported that at least 10 browser plug-in wallets, including metamask and phantom, may expose login information due to a problem in the JavaScript language. This vulnerability may cause mnemonic words to be stored in memory for a period of time and thus be exploited by attackers. At present, metamask and phantom have fixed this vulnerability. Metamask said that only if all three conditions are met: the hard disk is unencrypted, the mnemonic is imported to an untrusted device or the computer is hacked, and the mnemonic display function is used during import, there is a possibility of being hacked.
 
        Halborn received a $50000 bonus for disclosing the vulnerability, and suggested users to switch to a new wallet address. Steve walbroehl, co-founder of halborn, said that the vulnerability has existed for a long time, and it is best to change the wallet address out of caution. (CoinDesk)。 On June 15, according to the official news, the Ethereum main network will upgrade the grayglacier hard fork at the block height of 15050000 (about the end of June) to delay the difficulty bomb for about 2-3 months. Therefore, all users must upgrade before the block is activated. The Ethereum client geth has released v1.10.19 for this, introducing the grayglacier hard fork and forcing an upgrade.
 
        Previously, Tim beiko, the developer of Ethereum, said that Ethereum is expected to merge between late August and November. Only catastrophic events or failures can prevent the merger this year. Due to the technical problems involved, it is almost impossible to give the exact date of the merger. In addition, there are also signs that developers are postponing the difficulty bomb of Ethereum because they are currently repairing the errors they found during the ropsten merger. It was reported on June 15 that meta will launch a pilot project of metauniverse in Hong Kong, China, bringing virtual experience to 7.4 million local residents. Meta said on Tuesday that it will cooperate with local partners, such as chain cafes, schools and art institutions, to provide "first-hand" meta universe experience in the local area and explore the potential use of the meta universe in daily life.
 
        This will include virtual reality (VR) exhibitions at local cafes and open augmented reality (AR) training seminars for educators and secondary school students. It will also work with local creators in Hong Kong to share their NFT projects on instagram. In addition, meta announced this week that it will soon launch the virtual space horizonhome in its headset product quest2. In addition, it will establish a meta cosmological Institute in France. (Yahoo Finance). According to the golden financial report, the block team of Jack Dorsey, former CEO of twitter, announced that the company's TBD business unit is planning to build a bitcoin lightning infrastructure.
 
        Nick Slaney, the product designer of block, said that he would leave the wallet team to join a professional team focusing on building lightning network infrastructure. Our goal is not only to build the necessary tools and infrastructure for our products, but also to complement the entire lightning network ecosystem. It is important to build the infrastructure and tools to bring the world into the lightning network (especially unmanaged). This is an investment in the future of world payments. The team announced that, like other bitcoin focused products of block, the plan to develop lightning network infrastructure will include plans and opinions from the community and ideas from different smart people in the encryption field.
 
        According to the financial news of China blockchain network, according to the tweet of watcherguru, the Paris 2024 Olympic Games will adopt blockchain ticketing. According to the financial news of China blockchain network, opensea in the NFT market said that it was transforming its back-end and had switched from the Wyvern protocol to its self-developed seaport protocol. It is estimated that the cost of gas can be reduced by about 35%. The new protocol is estimated to save users more than 460 million dollars annually. Previously, it was reported that opensea launched the Web3 market protocol seaport. According to the financial report of China blockchain network, vitalikbuterin, founder of Ethereum, posted a blog "which non-financial applications can use blockchain", saying that he has always strongly supported the trend of using blockchain for non-financial applications. People need to stay away from "blockchain omnipotence" and "blockchain Minimalism".
 
        He said that he saw the value of blockchain in many cases, sometimes for really important goals, such as trust and anti censorship, and sometimes purely for convenience. Vitalik also listed 8 non-financial application scenarios that can use blockchain in the article: user account key change and recovery, modification and revocation proof, negative reputation, scarcity proof, public knowledge, interoperability with other blockchain applications, open source indicators, and data storage. Vitalik said that his two most confident non-financial applications so far are interoperability with other blockchain applications and account management. On June 18, according to cryptoslam data, as of June 15, the total sales of global fan tokens was about $80.99 billion, more than $40 billion more than NFT.
 
        In 2020, the increase in demand for fan tokens led to the increase in monthly sales. By December 2020, the global monthly sales of fan tokens will be less than US $100 million. By December 2020, the sales of fan tokens will be about US $1.03 billion. In May 2021, the sales of fan tokens increased with the price of cryptocurrency. In that month, the global fan token sales reached a record high of US $9.43 billion, and the corresponding market value was US $2103.8 million. Since then, the sales of fan tokens in March 2022 approached the peak in May last year, reaching US $9.42 billion. (BeInCrypto)。
 
        According to the news of China blockchain network on June 17, the joint wave field reserve (trondaoreserve) tweeted that it has increased the supply of USD300 million on Tron. At present, usdc supply on Tron has reached 2.8 billion US dollars. According to the financial report of China blockchain network, l2beat data shows that as of June 17, the total amount of locked positions on Ethereum layer2 was 3.79 billion US dollars. In the past seven days, the decline was 22.82%, of which the largest amount of locked positions was the expansion plan arbitrum, about US $1.9 billion, accounting for 50.23%. The second is dydx, with a locked position of US $757 million, accounting for 19.97%.
 
        Optimism occupies the third place, with a locked position of US $657 million, accounting for 17.33%. According to the financial report of China blockchain network, according to the latest data of coinecko, the market value of usdc has exceeded $55 billion, a record high, and so far it is $55151799894. The data shows that the current circulation of usdc on the Ethereum chain is the highest, about $46.218 billion, and Solana ranks second, about $40.29; The wave field Tron is the third, about $28.36; Avalanche ranked fourth with about US $1448 million.
 
        According to the news on June 15, the Joint Reserve of wave field (trondaoreserve) posted on social media that the Joint Reserve of wave field has transferred 100 million usdcs to binance platform to purchase TRX. On June 13, the chain data showed that MicroStrategy had just transferred 2089 bitcoins (about US $48 million) to a new wallet, which was the first time the company transferred bitcoins. Cryptowhale analyzed that this may mean that MicroStrategy plans to sell its bitcoin position. On June 13, IOBC capital, a Web3 venture capital institution, announced the formal establishment of the first phase of a $50 million venture capital fund.
 
        Alvaxu, the founding managing partner of IOBC capital, said that the fund will focus on the opportunities of the track such as the infrastructure layer, component layer and middleware layer of Web3. IOBC capital was founded in 2021, focusing on investment in the field of Web3 infrastructure. The team is distributed in the United States, Singapore and other places.
 
        
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