Last Update 11:45 PM January 23, 2025 (UTC)

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Thursday, 23. January 2025

bankless

Citizen DeFi Play: The Meteora Trade

TRUMP's first onchain liquidity hub surges on memecoin excitement.
TRUMP's first onchain liquidity hub surges on memecoin excitement.

Defiant

Circle Acquires Hashnote and USYC

The USDC issuer has acquired Hashnote and USYC, the largest tokenized money market fund.
The USDC issuer has acquired Hashnote and USYC, the largest tokenized money market fund.

bankless

Binance's CZ Returns to Rebranded Binance Labs as Investor

CZ is done sitting on the sidelines after his brief prison term.
CZ is done sitting on the sidelines after his brief prison term.

Trump Announces Creation of Crypto Working Group

Trump's latest executive order tasks czar David Sacks with creating a working group to tackle regulation.
Trump's latest executive order tasks czar David Sacks with creating a working group to tackle regulation.

Defiant

Etherealize Unveils Institutional Marketing Initiative for Ethereum

The marketing and product arm funded by the Ethereum Foundation seeks to educate and onboard institutions to Ethereum.
The marketing and product arm funded by the Ethereum Foundation seeks to educate and onboard institutions to Ethereum.

US President Trump Signs Executive Order to Consider Digital Asset Stockpile

The motion comes alongside multiple crypto-focused executive orders.
The motion comes alongside multiple crypto-focused executive orders.

Binance Founder Confirms U.S. Strategic Bitcoin Reserve 'Pretty Much Confirmed'

Binance founder Changpeng Zhao has indicated that a U.S. Strategic Bitcoin Reserve is 'pretty much confirmed.'
Binance founder Changpeng Zhao has indicated that a U.S. Strategic Bitcoin Reserve is 'pretty much confirmed.'

Bitcoin Volatility Persists as Traders Await Trump’s Policy Moves

Bitcoin consolidates near $105,000 as crypto traders navigate $341M in liquidations and shifting policy signals.
Bitcoin consolidates near $105,000 as crypto traders navigate $341M in liquidations and shifting policy signals.

bankless

Ledger Co-Founder Safe Following Kidnapping

David Balland had been taken from his home in France on Tuesday.
David Balland had been taken from his home in France on Tuesday.

Defiant

Trump's Team Acquires 412 Solana ($SOL) for $103,770

Former President Donald Trump's team has reportedly increased its holdings in Solana ($SOL), a prominent cryptocurrency
Former President Donald Trump's team has reportedly increased its holdings in Solana ($SOL), a prominent cryptocurrency

John McAfee’s Wife Launches AI Memecoin to Honor Husband’s Legacy

Janice McAfee said his husband’s account was not hacked.
Janice McAfee said his husband’s account was not hacked.

Liquid Restaking Protocol Puffer Finance Unveils CARROT Airdrop Tokens

The CARROT tokens earned by staking, providing liquidity and voting will be replaced with PUFFER during the airdrop.
The CARROT tokens earned by staking, providing liquidity and voting will be replaced with PUFFER during the airdrop.

China Sells 194K Bitcoin Worth Nearly $20 Billion, Contradicting Treasury Claims

China has reportedly sold its entire stash of 194,000 Bitcoin (BTC), which was seized from the PlusToken scandal
China has reportedly sold its entire stash of 194,000 Bitcoin (BTC), which was seized from the PlusToken scandal

Trump Vows to Make US AI, Crypto Leader and Manufacturing Superpower

President Donald Trump, speaking at the World Economic Forum in Davos, announced his intention to position the United States as the global leader in artificial intelligence (AI) and cryptocurrency
President Donald Trump, speaking at the World Economic Forum in Davos, announced his intention to position the United States as the global leader in artificial intelligence (AI) and cryptocurrency

Senate Banking Committee Names Sen. Cynthia Lummis Chair of Digital Assets Subcommittee

The vote follows a cryptic post by Lummis that fueled rumors of a potential U.S. strategic Bitcoin reserve.
The vote follows a cryptic post by Lummis that fueled rumors of a potential U.S. strategic Bitcoin reserve.

Ross Ulbricht Memecoin Plummets 90% Upon Presidential Pardon

The Silk Road founder’s presidential pardon quickly pivoted into a sell-the-news event.
The Silk Road founder’s presidential pardon quickly pivoted into a sell-the-news event.

Trump is Steadfast on Implementing a Strategic Bitcoin Reserve, Experts Explain How He Might Do It

Trump's strategic Bitcoin Reserve Proposal signals a major shift in U.S. economic policy and cryptocurrency adoption.
Trump's strategic Bitcoin Reserve Proposal signals a major shift in U.S. economic policy and cryptocurrency adoption.

PIVX

PIVX Lands on SuperEx

PIVX has continued to expand its global presence, with a recent listing on SuperEx. This marks the latest in a series of successful integrations on international exchanges. Trading of the PIVX/USDT pairs commenced on January 20th on the exchange and has already seen impressive numbers, with daily trading volumes hovering above $300,000. The new addition follows a series of strategic moves aimed

PIVX has continued to expand its global presence, with a recent listing on SuperEx. This marks the latest in a series of successful integrations on international exchanges.

Trading of the PIVX/USDT pairs commenced on January 20th on the exchange and has already seen impressive numbers, with daily trading volumes hovering above $300,000.

The new addition follows a series of strategic moves aimed at expanding PIVX’s global reach. The project has been actively pursuing listings on key exchanges across various regions, with recent efforts focused on strengthening its position in the Asian market.

A governance proposal submitted by Business Development Lead, Jeffrey, hints at possible listings on exchanges like KCEX, BVOX, and FameEx.

With over 10 million registered users across 160 countries, SuperEx touts itself as the “first Web3 crypto exchange.” According to data on CoinMarketCap, the platform has a daily spot trading volume of over $5 billion.

PIVX. Your Rights. Your Privacy. Your Choice.
To stay on top of PIVX news please visit PIVX.org and Discord.PIVX.org.

PIVX Lands on SuperEx was originally published in PIVX on Medium, where people are continuing the conversation by highlighting and responding to this story.


Global Digital Finance

Single-minded? Rethinking our approach to the ‘singleness of money’ could help to reap the benefits of stablecoins

A new paper on stablecoins and the singlness of money discussing: The post Single-minded? Rethinking our approach to the ‘singleness of money’ could help to reap the benefits of stablecoins appeared first on GDF.

A new paper on stablecoins and the singlness of money discussing:

How different forms of money have evolved over time; How singleness is defined, its history, and the distinction between singleness in theory and in practice; The implications that the interplay of stablecoins and traditional forms of money may have for singleness, including the nature of stablecoins; The implications for the integration of stablecoins into the financial services ecosystem; The mechanisms by which singleness in practice is currently achieved today; and Recommendations for the role of policy in preserving singleness.

The post Single-minded? Rethinking our approach to the ‘singleness of money’ could help to reap the benefits of stablecoins appeared first on GDF.


Epicenter Podcast

Kiln: Democratising Value Creation in Digital Assets - Laszlo Szabo

Kiln operates as a staking-as-a-service platform, primarily focused on Ethereum, enabling users to stake assets programmatically, managing validators, rewards, and commissions through an API-first approach. In addition, it offers white-label solutions that allow institutional clients to integrate staking functionalities into their own offerings, with unified API for all assets and rewards, making

Kiln operates as a staking-as-a-service platform, primarily focused on Ethereum, enabling users to stake assets programmatically, managing validators, rewards, and commissions through an API-first approach. In addition, it offers white-label solutions that allow institutional clients to integrate staking functionalities into their own offerings, with unified API for all assets and rewards, making it easier for businesses to provide staking services without developing the infrastructure themselves. With more than $13bn worth of assets secured, Kiln has proven its reliability, having no slashing events thus far. Moreover, Kiln widget offers a no-code experience for launching custom earn options, integrated with every major wallet and custodian.

Topics covered in this episode:

Laszlo’s background Founding Kiln Enterprise-grade validators and slashing DevOps & infrastructure maintenance ETH staking and custody Liquid staking and restaking The evolution of staking providers and requirements DeFi yield Institutional investors Kiln roadmap

Episode links:

Laszlo Szabo on X Kiln on X

Sponsors:

Gnosis: Gnosis builds decentralized infrastructure for the Ethereum ecosystem, since 2015. This year marks the launch of Gnosis Pay— the world's first Decentralized Payment Network. Get started today at - gnosis.io Chorus1: Chorus1 is one of the largest node operators worldwide, supporting more than 100,000 delegators, across 45 networks. The recently launched OPUS allows staking up to 8,000 ETH in a single transaction. Enjoy the highest yields and institutional grade security at - chorus.one

This episode is hosted by Friederike Ernst.


Defiant

Institutional Interest Quadruples Wintermute’s OTC Volume

In 2024, Wintermute’s OTC volumes soared by 313% as institutional investors embraced digital assets.
In 2024, Wintermute’s OTC volumes soared by 313% as institutional investors embraced digital assets.

Digital Asset Funds' AUM Climbs to New High After Drawing $2.2 Billion in a Week

Bitcoin leads with $1.9 billion in inflows, as total YTD investments reach $2.8 billion.
Bitcoin leads with $1.9 billion in inflows, as total YTD investments reach $2.8 billion.

Uniswap Plans to Release its V4 This Week

The latest update aims to add flexibility to the top decentralized exchange.
The latest update aims to add flexibility to the top decentralized exchange.

TORN Surges Over 150% After US Appeals Court Lifted Tornado Cash Sanctions

The U.S. court found that smart contracts can’t be considered property of a foreign national entity and, therefore, cannot be sanctioned.
The U.S. court found that smart contracts can’t be considered property of a foreign national entity and, therefore, cannot be sanctioned.

Brave Browser

Introducing Rerank: a fast, easy way for users to customize Brave Search rankings

Today we're excited to announce Rerank, a simple yet powerful feature to customize search rankings by boosting or removing domains from search results.

Today we’re excited to announce Rerank on Brave Search, a simple yet powerful feature to customize search rankings by boosting or removing domains from search results.

Rerank allows users to tweak the one-size-fits-all ranking of search engines with their own explicit input, providing a more transparent personalization compared to other more opaque forms of personalization that neither help with algorithmic transparency nor user privacy. Rerank is available for free and available for all searches made on search.brave.com.

Make Brave Search your own with Rerank

The new Rerank feature introduces a panel on the search results page to give individual users more control over the presence and ranking order of the websites they see in Brave Search. The panel lists domains, each with the option to thumbs up (raise) or thumbs down (discard) the domains from the results. From that point forward, raised domains will be boosted higher up in the rankings a user sees, while discarded domains will no longer be included among the results. A domain’s up-rank or down-rank can be adjusted or undone at any time.

“Rerank enables users to easily adjust search results according to their preferences, explicitly, while being in full control. No opaque personalization is done by unknown algorithms, as Rerank puts users in charge of their search experience.”

– Arjaldo Karaj, VP, Brave Search

Use of Rerank will not change domain presence or ranking for other users or on Brave Search as a whole—Rerank only applies for the users who choose to use the feature, and only on that user’s device. Rerank does this while upholding Brave’s industry-leading privacy promises. Rerank does not track users 1, and modifications can be cleared at any time in the search settings.

When and how to use Rerank

Rerank expands Brave’s mission of a user-first Web. Use of a search engine is personal and a one-size-fits-all approach isn’t always best. Consider a professional interior designer who scours the Web for inspiration to support their work. They may not get much value from sites that publish content for personal DIY projects. Thanks to Rerank, they can now discard unwanted sites and curate a more tailored set of domains for their professional needs. If that same interior designer is a paid subscriber to some online decor magazines, they could use Rerank to boost results from those sites.

Answer with AI, the Brave Search generative-AI feature that provides concise answers to question-like queries, will also benefit from Rerank modifications. When changes are made to the user’s own search rankings, Answer with AI will source some (though not all) of the information it uses to generate answers from these newly-modified search results.

Personalized search at Brave offers multiple options

Goggles, the technology powering Rerank, were first introduced to Brave Search in June 2022. Goggles gives you a way to create, apply and share custom filters that change the way results are ranked. Examples of Goggles include  “News from the left,” “News from the right,” and “Tech blogs”.

Goggles are one of several ways Brave ensures algorithmic transparency and openness in search. We don’t editorialize Brave Search, but all search engines have unique intrinsic biases that result from data and algorithmic choices. Goggles empowers users to counter any intrinsic biases in the algorithm and allows anyone to create search use-cases that may be niche for an all-purpose search engine. The community of Brave Search users can create a Goggle, and “publish” it for any other Brave Search user to use, or even copy-and-modify for their own preferences.

Rerank isn’t a replacement for Goggles, but rather a faster, more accessible way for individual users—regardless of technical ability—to achieve a similar result.

For those interested in switching between pre-made reranking configurations, default Goggles can be applied by navigating to the Goggles tab alongside Images, Videos, and News tabs on the search results page (SERP). Brave also lists popular Goggles, surfaces an open repository of Goggles made by the Brave community, and has guides for users to make and submit their own.

About Brave Search

Brave Search is the fastest growing independent search engine since Bing. Unlike Big Tech search engines, Brave Search doesn’t profile its users. And unlike supposedly alternative engines, Brave Search serves results from an independent index of the Web. This means Brave Search can offer both industry-leading privacy and an effective counter to the bias and censorship prevalent in Big Tech’s personalization.

Brave Search also offers “Answer with AI,” a real-time answer engine which provides AI-powered summaries at the top of the search results page whenever a question-like query is detected, giving users quick, concise information.

Brave Search continues to reach new highs, serving more than 38 million queries per day (and more than 1.2 billion queries each month). It’s the default search engine for most new users of the Brave browser, which now has over 75 million users worldwide.

Brave Search also offers a Search API so that other companies can power their search and AI apps.

Technical note: Rerank changes are stored in localStorage and passed to search via a cookie. Similar to a user’s IP address and any other personally identifiable information, Brave Search does not use this Rerank cookie to track user queries. Learn more↩︎

Wednesday, 22. January 2025

bankless

Getting Ready for Infinite Leverage on InfinityPools

The Base DeFi protocol looks to level up margin trading.
The Base DeFi protocol looks to level up margin trading.

Defiant

Solana Rallies as Crypto Markets Consolidate Following Trump’s Inauguration

Bitcoin dips after hitting an all-time high while Solana surges, and over $173 million in liquidations rattle the market amidst uncertainty over political policy.
Bitcoin dips after hitting an all-time high while Solana surges, and over $173 million in liquidations rattle the market amidst uncertainty over political policy.

bankless

Federal Court Overturns Sanctions on Tornado Cash

A federal court in Texas knocks down the contentious smart contract sanction.
A federal court in Texas knocks down the contentious smart contract sanction.

Trump Pardons Silk Road Founder Ross Ulbricht

Trump fulfills another campaign promise to crypto voters.
Trump fulfills another campaign promise to crypto voters.

Defiant

TRUMP Dumps, then Rebounds on Misleading Headline

Trump said he didn't know he’s made billions on paper off the memecoin he launched three days before being sworn in.
Trump said he didn't know he’s made billions on paper off the memecoin he launched three days before being sworn in.

Yes, Someone Has Filed For a TRUMP ETF

The list of pending ETF applications doubled since the crypto industry’s least favorite SEC Chairman Gary Gensler left the building on Friday. Some are “surreal.”
The list of pending ETF applications doubled since the crypto industry’s least favorite SEC Chairman Gary Gensler left the building on Friday. Some are “surreal.”

bankless

PXL DEX: Redefining Onchain Art with Pixels and Tokens

Kim Asendorf's PXL DEX is an onchain art collection that links NFTs and ERC-20s in a way we've never seen before.
Kim Asendorf's PXL DEX is an onchain art collection that links NFTs and ERC-20s in a way we've never seen before.

Defiant

Kaito Launches Kaito Connect, Allowing Yappers to Vote on Pre-TGE Projects for Leaderboard

Kaito, a platform focused on community engagement, has launched Kaito Connect, a new feature that allows users, known as 'yappers,' to vote on which pre-token generation event (TGE) projects will receive their own leaderboard
Kaito, a platform focused on community engagement, has launched Kaito Connect, a new feature that allows users, known as 'yappers,' to vote on which pre-token generation event (TGE) projects will receive their own leaderboard

Solana TVL Hits All-time High Amid Trump Memecoin Frenzy

The launch of the TRUMP and MELANIA memecoins has propelled record-breaking growth for Solana DeFi.
The launch of the TRUMP and MELANIA memecoins has propelled record-breaking growth for Solana DeFi.

Coinbase Traces 430 BTC Worth $47 Million to Ross Ulbricht, Untouched for Over 13 Years

Coinbase's Conor Grogan has identified 430 bitcoins associated with Ross Ulbricht, the Silk Road founder, which have remained untouched for over 13 years
Coinbase's Conor Grogan has identified 430 bitcoins associated with Ross Ulbricht, the Silk Road founder, which have remained untouched for over 13 years

Goldman Sachs CEO Affirms U.S. Dollar's Strength, Calls Bitcoin a Speculative Asset

Goldman Sachs CEO David Solomon has stated that he does not view Bitcoin as a threat to the dollar.
Goldman Sachs CEO David Solomon has stated that he does not view Bitcoin as a threat to the dollar.

bankless

Circle Acquires the Largest Tokenized Money Market Fund

Circle pushes forward as it acquires USYC issuer Hashnote.
Circle pushes forward as it acquires USYC issuer Hashnote.

Defiant

Ethereum Core Developer Eric Conner Exits After 11-Year Affiliation Amid Leadership Concerns, Shifts Focus to AI with Freysa•ai

Eric Conner, a prominent core developer of Ethereum, has departed from the project after nearly 11 years, citing dissatisfaction with Vitalik Buterin's control over the Ethereum Foundation (EF)
Eric Conner, a prominent core developer of Ethereum, has departed from the project after nearly 11 years, citing dissatisfaction with Vitalik Buterin's control over the Ethereum Foundation (EF)

Jupiter Launches $550 Million Jupuary Airdrop

Users, stakers and key participants will split 700 million JUP tokens.
Users, stakers and key participants will split 700 million JUP tokens.

Sequoia

Stochastic Mindset Perspective

The post Stochastic Mindset Perspective appeared first on Sequoia Capital.
The Stochastic Mindset

AI tools will change the way we work by changing the way we think.

By Konstantine Buhler Published January 22, 2025

Most descriptions of AI’s potential to change how we work are by now familiar: AI will automate repetitive tasks, increase worker impact, improve job satisfaction and disrupt entire industries. But how will using AI tools change the actual experience of work? Will AI change the way we think?

AI is the next era of computing, and one of its hallmarks is moving from deterministic to probabilistic or “stochastic” outputs. As AI spreads, workers are engaging with a new software paradigm that calls for a new mindset. In a recent episode of Sequoia’s Training Data podcast, Dust co-founder Gabriel Hubert introduced the concept of the “stochastic mindset” as “the biggest shift in the use of the tools that we have since the advent of the computer.”

Randomness and uncertainty are a part of life, but in the context of modern knowledge work we have been trained to optimize for certainty and predictability. The stochastic mindset invites us to move from rote workflows to iterative development of tools, content, strategy and more.

The stochastic mindset moves us from having minimal leverage on a task and 100% certainty of its outcome to 100% leverage on a task and far less certainty on the exact manifestation of its outcome. This transition is the difference between doing something yourself and delegating a task to someone else. 

AI as exoskeleton for work

The shift to the stochastic mindset shows how the impactful productivity gains from AI will actually be achieved. By making it easier to access and synthesize information, workers will consume and produce  much more information. OpenEvidence, Harvey and Dust are examples of products that take the friction out of accessing and making use of relevant information in the context of doctors, lawyers and knowledge workers more generally.

AI expands information through generalization. But it also reduces by summarizing information. In the AI age, there is uncertainty in exactly the message being delivered in exchange for speed and leverage. The quantity of information itself requires probabilistic approaches to manage and infer simplifications.

Age of AI (Circa 2023)

AI tools provide drafts or suggestions, not definitive answers. They will improve—but always to the point of some probability. Those reading—especially the quantum and stats enthusiasts—will be quick to assert that everything is probabilistic. Fair. But the history of computing has been one darn near determinism. AI is reaching a threshold of scale where being probabilistic is more efficient than being deterministic. 

What this means for us as workers will be seismic. Our tools imitate us and then we imitate them. If our predominant model of a machine becomes stochastic—embracing randomness—our minds will follow suit. We will adopt a more questioning stance toward the data at hand, realizing it is infused with randomness. Perhaps most importantly, the stochastic mindset can accommodate change and is adapted specifically for change. 

Whether you’re a founder or a knowledge worker or a student, your future prospects will have a lot to do with how well you adapt to change. Engaging with more uncertain outputs from AI systems, workers will need to strengthen their critical thinking skills. This is not just a short term adaptation resulting from the tendency of LLMs to hallucinate. Our demands on these systems will continue to outstrip their abilities, and for some use cases may become more variable over time, not less. As Ilya Sutskever said about AI reasoning systems in his recent talk at NeurIps 2024, “the more it reasons the more unpredictable it becomes.”

Dust is an example of a platform making custom agents accessible to non-technical workers. They aim to build “horizontal sandboxes” where workers can create their own agents, assistants and tools. Over time, teams will manage AI agents. As Jensen Huang put it at his CES Keynote this month, “IT teams will become HR departments of AI.” These systems are the record of management and action. Companies like Factory will enable management of coding agents, XBOW will be the management of cybersecurity agents and Rox will provide management of selling agents. 

Instead of thinking about AI purely in terms of how much opex it will save companies, the stochastic mindset focuses our attention on AI as a power assist—an exoskeleton for work.

Adapting to 21st century realities

We can see the stochastic mindset as an evolutionary and adaptive response to the reality of the world in the 21st century. Humanity is faced with increasing levels of social, political, economic and environmental uncertainty. The accelerating speed of change (models/robot/rockets keep getting better/faster/cheaper) also means accelerating volatility.

Fast iteration and execution favors small teams with AI superpowers. The stochastic mindset is also the builder mindset: iterative, experimental, skeptical and data-driven. An intriguing detail that Gabriel reports is that the patterns of usage of Dust within organizations becomes a heat map for identifying builders. 

The stochastic mindset is also the scientific mindset: forming hypotheses and seeking to prove or disprove them. Promoters of AGI and superintelligence (including Vlad Tenev at Harmonic) have science firmly in their sights. But the bigger consequence of the diffusion of stochastic AI systems may turn out to be the increasing prevalence of scientific thinking among humans.

Founders need the stochastic mindset

When people say that product-market fit is as much art as science they are perhaps thinking of science in deterministic terms. Founders have a stochastic learning problem that they confront every day: the changing needs of their customers in a changing world.

Among other things, contemporary founders need the stochastic mindset to take advantage of assumed but unpredictable improvements in AI models. Their teams need to plan product roadmaps in anticipation of what may be possible soon. Founders also now need to engage with research in an open-ended way—uncertainty can also be opportunity.

Part of the stochastic mindset is the ability to understand constraints. Any process has to run in a limited time. Compute resources are limited and so is communication within a given system. All of these factors lead to non-determinism, but the constraints on human cognition are notoriously more stringent than those of machines. 

Most importantly, by developing their own stochastic approach, founders can solve their customers’ problems too. By infusing the stochastic mindset into their products, founders can help users take advantage of these new capabilities:

Help workers become builders Help students become researchers Help consumers make good choices among complex offerings Help everyone learn to consume AI services productively Giving humans more time to think

A central problem in making AI agents reliable is endowing them with the right guardrails, but their unpredictable nature is also a feature, not just a bug.

Indeed, one of the big takeaways from the story of AlphaGo turned out to be its effect on human Go players. A 2023 paper on the effect of superhuman artificial intelligence on human decision-making concluded that the novelty in moves by human Go players increased significantly after AlphaGo beat Lee Sedol. As Garry Kaspirov put it, “I was the first knowledge worker whose job was threatened by a machine.” That was back in 1996. Yet the game of chess is far from a relic of the past, it has wider adoption than ever and new techniques. AI is used both as a sparring partner and a coach.

The stochastic mindset is not actually a new way of thinking—though the adoption of AI tools is about to make it much more prevalent. Less line workers and more creative artists and strategic managers. Less programming and more teaching. The stochastic mindset will help make us all more comfortable at a higher level of abstraction. From there we can see AI as both an executor of our intentions and as a teacher. In a world where nothing is certain, adaptability becomes even more valuable, allowing us to navigate through the unpredictable and embrace new possibilities with self-determination and creativity.

Share Share this on Facebook Share this on Twitter Share this on LinkedIn Share this via email Related Topics #AI #Inference Dust Co-founders: Multiple Agents to Get the Most From AI hosted by Konstantine Buhler and Pat Grady Podcast Listen AI Recruits a New Hybrid Workforce by Konstantine Buhler Perspective Read AI 50: Companies of the Future Konstantine Buhler on the 2024 AI 50 list Perspective Read AI and the Frontier Paradox By Konstantine Buhler Perspective Read JOIN OUR MAILING LIST Get the best stories from the Sequoia community. Email address Leave this field empty if you’re human:

The post Stochastic Mindset Perspective appeared first on Sequoia Capital.


Zcash Foundation

FROST 2.1.0 Release

The Zcash Foundation is pleased to announce the release of FROST v2.1.0. This release includes a number of important changes and improvements to the FROST reference implementation. This release  includes the frost-secp256k1-tr crate, which allows the generation of Bitcoin Taproot (BIP340/BIP341) compatible signatures and will be useful for ZSAs also, since BIP340 signatures will be […]

The Zcash Foundation is pleased to announce the release of FROST v2.1.0. This release includes a number of important changes and improvements to the FROST reference implementation.

This release  includes the frost-secp256k1-tr crate, which allows the generation of Bitcoin Taproot (BIP340/BIP341) compatible signatures and will be useful for ZSAs also, since BIP340 signatures will be used for issuing ZSAs.

Other notable features in this release include improvements to the distributed key generation (DKG) protocol to support refreshing shares in the case where you want to remove a participant (e.g. due to key loss). It is worth noting that in this case, should the key be recovered, it is still possible for the original participant key set to be used in a FROST signature round. For more details, check out the Refreshing Shares section in the FROST book. We have also added the possibility to identify which participant sent an invalid secret share, during the third DKG round. Finally, it is now possible to serialize DKG secret packages to allow for asynchronous key generation.

You can see a full copy of all of the included changes in the v2.1.0 Release Notes on GitHub.


Defiant

BlackRock CEO Fink Predicts $700,000 Bitcoin; Sovereign Funds May Allocate 2–5%

BlackRock CEO Larry Fink has expressed strong support for Bitcoin
BlackRock CEO Larry Fink has expressed strong support for Bitcoin

Trump-backed World Liberty Financial Buys $113 Million of Crypto to Celebrate Inauguration

World Liberty Financial (WLFI) purchased $47 million worth of Ethereum (ETH) and $47 million worth of Wrapped Bitcoin (wBTC).
World Liberty Financial (WLFI) purchased $47 million worth of Ethereum (ETH) and $47 million worth of Wrapped Bitcoin (wBTC).

Vitalik Responds to Calls for Aya Miyaguchi's Resignation Amid Ethereum Foundation Controversy

Ethereum co-founder Vitalik Buterin defends Miyaguchi and criticizes online attacks following growing community pressure.
Ethereum co-founder Vitalik Buterin defends Miyaguchi and criticizes online attacks following growing community pressure.

Polymarket Shows Reality Setting In After Trump Stays Silent on Crypto

Bettors’ hopes that crypto would play a part in the symbolic first day of President Donald Trump’s administration were dashed.
Bettors’ hopes that crypto would play a part in the symbolic first day of President Donald Trump’s administration were dashed.

Vitalik Buterin Says Ethereum Foundation is Considering Staking ETH

The Ethereum co-founder cited regulatory and hard fork risks as the reasons for the Ethereum Foundation previously avoiding staking.
The Ethereum co-founder cited regulatory and hard fork risks as the reasons for the Ethereum Foundation previously avoiding staking.

a16z Podcast

RIP to RPA: How AI Makes Operations Work

Intelligent automation is transforming industries by tackling messy, unstructured workflows that traditional Robotic Process Automation (RPA) couldn’t handle. In this episode, a16z partner Kimberly Tan discusses the shift from rigid RPA systems to AI-powered agents and why this evolution unlocks massive opportunities in legacy markets. Drawing on her article "RIP to RPA: The Rise of Intelligent A

Intelligent automation is transforming industries by tackling messy, unstructured workflows that traditional Robotic Process Automation (RPA) couldn’t handle. In this episode, a16z partner Kimberly Tan discusses the shift from rigid RPA systems to AI-powered agents and why this evolution unlocks massive opportunities in legacy markets.

Drawing on her article "RIP to RPA: The Rise of Intelligent Automation," Kimberly shares real-world examples of companies revolutionizing referral management, and highlights how startups can build impactful solutions in this space.

Resources:

Find Kimberly on X: https://x.com/kimberlywtan

Read Kimberly’s article: https://a16z.com/rip-to-rpa-the-rise-of-intelligent-automation/

Stay Updated: 

Let us know what you think: https://ratethispodcast.com/a16z

Find a16z on Twitter: https://twitter.com/a16z

Find a16z on LinkedIn: https://www.linkedin.com/company/a16z

Subscribe on your favorite podcast app: https://a16z.simplecast.com/

Follow our host: https://twitter.com/stephsmithio

Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.


Greylock Partners

Welcome, Mor Chen!

The post Welcome, Mor Chen! appeared first on Greylock.

The post Welcome, Mor Chen! appeared first on Greylock.


Defiant

Coinbase CEO Predicts Bitcoin Will Reach Multiple Millions, Sees It as New Gold Standard

Coinbase CEO Brian Armstrong has expressed a bullish outlook on Bitcoin, predicting that the cryptocurrency will eventually reach a price range in the millions, and potentially multiple millions
Coinbase CEO Brian Armstrong has expressed a bullish outlook on Bitcoin, predicting that the cryptocurrency will eventually reach a price range in the millions, and potentially multiple millions

Bank of America CEO Brian Moynihan Signals Readiness for Crypto Payments at Davos

Bank of America, with a valuation of $1.6 trillion, is poised to embrace cryptocurrencies for payments if regulators approve, according to CEO Brian Moynihan.
Bank of America, with a valuation of $1.6 trillion, is poised to embrace cryptocurrencies for payments if regulators approve, according to CEO Brian Moynihan.

Circle Acquires $1.3 Billion USYC Issuer Hashnote at Davos, Plans USDC Integration on Canton Network

Circle, the issuer of the $48 billion USDC stablecoin, has acquired Hashnote, a firm specializing in tokenized real-world assets (RWA)
Circle, the issuer of the $48 billion USDC stablecoin, has acquired Hashnote, a firm specializing in tokenized real-world assets (RWA)

Telegram Partners Exclusively With TON for Mini Apps, Serving 950 Million Users Via TON Connect

Telegram has entered into an exclusivity agreement with The Open Network (TON) Foundation, designating TON as the sole blockchain infrastructure for its mini-app platform
Telegram has entered into an exclusivity agreement with The Open Network (TON) Foundation, designating TON as the sole blockchain infrastructure for its mini-app platform

Tuesday, 21. January 2025

Defiant

Senator Cynthia Lummis Advocates for Strategic Bitcoin Reserve After Discussions with Eric Trump at Capitol Lunch

Senator Cynthia Lummis of Wyoming has emphasized the importance of focusing on a 'Strategic Bitcoin Reserve' during discussions with Eric Trump at a recent inaugural lunch at the Capitol
Senator Cynthia Lummis of Wyoming has emphasized the importance of focusing on a 'Strategic Bitcoin Reserve' during discussions with Eric Trump at a recent inaugural lunch at the Capitol

Ray Dalio of World's Largest Hedge Fund Confirms Bitcoin Ownership to Reduce Portfolio Risk

Ray Dalio, the founder of the world's largest hedge fund, has confirmed his ownership of Bitcoin, stating that he uses it as a tool to mitigate portfolio risk
Ray Dalio, the founder of the world's largest hedge fund, has confirmed his ownership of Bitcoin, stating that he uses it as a tool to mitigate portfolio risk

US Debt Clock Introduces DOGE Clock to Calculate Savings Produced by DOGE

The US Debt Clock website has introduced a new section dedicated to Dogecoin (DOGE), referred to as the 'DOGE Clock
The US Debt Clock website has introduced a new section dedicated to Dogecoin (DOGE), referred to as the 'DOGE Clock

Crypto.com Relaunches Crypto.com Exchange in the U.S. with Institutional-Grade Offerings and $CRO

Crypto.com has officially relaunched its exchange services in the United States
Crypto.com has officially relaunched its exchange services in the United States

Cryptocurrency Market Faces Volatility After Trump Inauguration, Top Assets Gain but Overall Market Declines

Despite gains in major cryptocurrencies, the market is uncertain about how the new President’s policies will impact the crypto landscape.
Despite gains in major cryptocurrencies, the market is uncertain about how the new President’s policies will impact the crypto landscape.

Sequoia

Robust Intelligence Spotlight

The post Robust Intelligence Spotlight appeared first on Sequoia Capital.
A Robust Safeguard for Generative AI Published January 21, 2025 By Lacy Warner Lacy Warner is an Epic Story Hunter, documentary director, and nonfiction writer who contributes regularly to Vogue, as well as NY Magazine, Guernica, The LARB and Longreads. Photography: Katie Thompson How a former Harvard professor left the security of the Ivory Tower in order to keep AI secure. Published January 21, 2025 By Lacy Warner Lacy Warner is an Epic Story Hunter, documentary director, and nonfiction writer who contributes regularly to Vogue, as well as NY Magazine, Guernica, The LARB and Longreads. Photography: Katie Thompson

In January 2023, Yaron Singer woke up in a suburban Las Vegas Airbnb with the feeling that things were finally on the upswing for his company, Robust Intelligence. The startup was gaining traction as one of the world’s top AI security firms, having developed the industry’s first AI firewall—a model engine that exposed AI safety failures and inaccuracies, protecting AI technology from malicious external threats, and also from making critical mistakes. 

Singer believed he was crossing T’s and dotting I’s away from landing one of his biggest clients yet: A leading consulting and systems integration company looking to ink a seven figure, multi-year deal. To celebrate, he was treating his team to a performance of Cirque Du Soleil’s ‘O’ that evening as part of their company offsite. Unfortunately, those death-defying, aquatic acrobatics wouldn’t be the day’s only brush with mortality. 

Emerging from his room, Singer got a call from the managing director of AI for the consulting company—to tie up loose ends, he assumed. Instead, the manager shared the news that their CEO had just returned from the World Economic Forum in Davos where one new technology had dominated the conversation: Large Language Models (LLMs). AI was heading in a new direction—from predictive to generative—and the CEO was worried that Robust’s offerings were no longer relevant. 

Singer quickly realized that this wasn’t about losing one client, this was about potentially losing every client. And yet, in spite of the existential threat this posed to his business, underneath it all Singer felt stirrings of excitement. He had been anticipating an AI watershed moment like this all the way back since his graduate studies at UC Berkeley. If LLMs were about to change the world, Robust Intelligence had the potential to play a meaningful role as a safeguard for the technology. 

Now in order to make that happen, Singer and his team needed to adapt their offerings. And they needed to do it quickly. 

Singer is the youngest in an Israeli family of academics where everyone—Mom, Dad and sister—have earned PhDs in computer science. There was something of an unspoken expectation that Singer would follow in his family’s well-trodden path, so much so that Singer remembers asking his mother at age six if he too had to get a PhD when he got older. (She laughed and said no. He remembers not being convinced.) 

His ambivalence about following in his family’s scholarly footsteps remained until he had an epiphany about academia’s appeal as an undergraduate. “I learned about all these beautiful constructs and systems all the way from math, to theory, to computer science,” Singer says. “To imagine that I could make an everlasting contribution to one of those fields—there’s nothing like it.” 

Singer enrolled in a PhD in computer science at UC Berkeley, which is where he first grew curious about startup culture. “I was doing this work on algorithms but what I wanted to do was apply it to the real world,” Singer says. “As an academic, nobody would talk to me, and I needed data. So the only way I could think of was to start a company, implement my algorithm and collect a lot of data.” 

His company, BIDWAVE, used machine learning and algorithms to determine how users should be compensated for posting ads on social media. But once the system was built, he kept getting wrong answers, revealing a very inconvenient truth about AI: “Everywhere that we have algorithmic decision-making that is taking AI input is extremely vulnerable,” Singer says. The algorithms, he concluded, were in trouble. 

Singer uses the example of Google Maps: You put in your destination and it finds the fastest route. It does this in two steps: the first relies on machine learning predictions about how long it will take to get to each location, and then once it has that information, it runs an algorithm. “The problem is that the times from one street to another—they’re not the real times, they’re predictions by some AI model, but the algorithm treats that as the truth,” Singer says. If the machine learning models are not exact—“and they’re never exact”—they undermine the quality of the algorithms making decisions. 

As he dug in further, Singer saw that there wasn’t just a hole in the market for a product that could keep businesses safe from these issues—there was no market at all. 

Meromit Singer, Yaron’s wife, a computational biologist who also completed her PhD in computer science at UC Berkeley, puts her husband’s insight plainly. “He was really the first to realize how dangerous it can be to have all these companies running their machine learning and assuming that the parameters are correct—but they’re not completely correct,” she says. “There’s some error there. And then what guarantees do you have and what vulnerabilities do you have?”

For some, stumbling upon this realization would have been enough to drop out of grad school and immediately pivot into startup mode, but Singer still felt the pull of the ivory tower—this time to the East Coast to teach at Harvard. Ironically, thousands of miles from Silicon Valley, Harvard is where he wound up meeting his future cofounder, Kojin Oshiba, an undergraduate seated in the front row of his graduate seminar.

“As an academic, nobody would talk to me, and I needed data. So the only way I could think of was to start a company, implement my algorithm and collect a lot of data.” 

Yaron Singer

While Singer was brought up in a household dedicated to computer science, Oshiba was raised in Tokyo by two serious bibliophiles: His father was a librarian and his mother worked in a bookstore. (In fact, Oshiba’s first name comes from the novel, The Wayfarer—which translates in Japanese as Kōjin—after his mother completed her thesis on the book.) 

For all of the ways their childhoods were different, Oshiba and Singer shared one very specific experience in common: Both are considered Third Culture Kids, a term coined by the American sociologist Ruth Useem which defines the experience of expatriate children who spend their formative years outside of their passport country. Singer had spent part of his childhood living in Colorado where his father was on a teaching sabbatical, while Oshiba spent three years in Canada where his father worked in the East Asian studies department at the University of Montreal. 

The move to Montreal got off to a rocky start. “I went there and I spoke zero English, so I struggled quite a bit for the first year,” Oshiba says. “But after three years I came back, and from there onwards, I felt like I didn’t exactly fit into the Japanese society.” Having had a taste of the wider outside world, Oshiba wanted more—he decided to attend university in America at Harvard. 

As the novelist Graham Greene famously wrote, “There is always one moment in childhood where the door opens and lets the future in.” For Oshiba, this was when he received special permission to take Singer’s graduate seminar and found himself in the front row, staring at the man who would eventually become his cofounder of a company valued at almost a half-billion dollars. 

Singer first took note of Oshiba when Oshiba led an impressive workshop on TensorFlow, the open-source software library for machine learning and artificial intelligence. Shortly thereafter, Singer and Oshiba began to co-write and publish papers. For his part, Oshiba always felt that Singer respected him as a true collaborator in spite of their gap in experience. “I felt like I was working on a problem with someone who’s obviously very smart and who’s accomplished a lot in his life, but it wasn’t like ‘Kojin, go and implement this.’” Oshiba says. “It was very much incubating ideas together and ‘what do you think? And why don’t we do this?’”

On his end, Singer was coming around to the notion of a life outside of academia. He had been granted tenure early, and with this goal achieved, realized how eager he was to see the practical applications of his research. The time felt right to build a company. 

At the end of the semester, Singer invited Oshiba into his office to ask him if he wanted to co-found a startup. Oshiba was equally excited by the prospect of collaboration, wherever that might take them. “Before asking any details,” Oshiba remembers, “I said, yes.” Partnership confirmed, Singer and Oshiba were just left with the question of what exactly they wanted to co-found. 

The pair kept coming back to the inconvenient truth about algorithms Singer had stumbled upon years ago at Berkeley—that AIs were fallible, resulting in vulnerabilities and inaccuracies in any algorithms that rely upon them. This led them to a simple, novel concern about AI security: “AI and machine learning, they’re glorified algorithms—like algorithms on steroids,” Oshiba says. “So the activity of identifying limitations in algorithms is identifying limitations in AI.” 

They set out creating a series of axioms they believed gave their company a purpose: the first, that AI would continue grow at an an exponential pace; the second, that with everything they knew about AI, there was no responsible way to grow the field without developing a way to secure it; and third, the corollary of these would lead the AI security market to eventually evolve into a multi-billion dollar market. 

It was nearing the end of 2019 when Singer created a pitch-cum-pilot program for JP Morgan Chase that revealed the weaknesses in the bank’s use of predictive AI. But Chase turned them down after an engineer on their team concluded there was currently no need for a product like theirs. 

“AI and machine learning, they’re glorified algorithms—like algorithms on steroids. So the activity of identifying limitations in algorithms is identifying limitations in AI.”

Kojin Oshiba

Around the same time, Singer went to San Francisco to meet with investors, including Bill Coughran, a partner at Sequoia Capital who had been a VP of Engineering at Google. If anyone was going to get the importance of their idea, Singer hoped it would be Bill. “Coming from his role at Google, I felt like Bill knew more about AI than I did,” says Singer, “He didn’t need to be convinced about our assertions that AI will be eating the world, and that it’s a vulnerable technology.”  

Singer was right. Coughran not only became Robust’s first investor, but he also introduced Singer to Chase’s head of AI and Quantum Security, who recognized that even though there might not be an immediate need for an AI firewall, there would be far sooner than most were expecting. In February 2020, he told Singer that he’d have the budget to kick off a program in six months. One month later, Covid-19 shut down the world.

Now, in addition to getting his company off the ground, Singer was also learning how to run it fully remotely, trying to land his first customers in a market besieged by high interest rates and inflation. Finally, in September of 2020, Robust Intelligence landed the first sale of their AI firewall product to Expedia after a cold outreach on LinkedIn. 

Expedia’s VP of data science was sold on the promise of how Robust’s product could be used for quality assurance, perhaps even more than its value as a security tool. At the time, he had a lot of PhDs in his organization who were terrific researchers but lacked coding expertise, and he believed Robust’s technology could help identify the issues in the models they were building. The only problem—Robust still didn’t actually have a product. They’d used Figma to create a mock-up of the product that looked real. Expedia was willing to partner with Robust despite their product’s nascency because there was simply nothing else like it in the market. “I was like, ‘Shit, now we have to make this work,’” Oshiba remembers. 

Expedia had given Robust sample data that allowed them to test their technology, but not enough to get it working at scale. This left Robust hoping for something that few other startups ever would: a lengthy contract process so that their engineers had runway to perfect the firewall.

At the time, Expedia’s AI models were predictive, or discriminative in nature. They would show a consumer the cost of a hotel or flight, and the prediction of whether or not they would purchase the room or the ticket was AI driven. Robust’s firewall needed to analyze the accuracy of Expedia’s AI’s predictions, while also testing it for vulnerabilities. Thanks to an intensive push, the fledgling startup looked like it was on track to deliver a functional product by the time the contract was signed, but three months before their planned delivery to Expedia they hit another snag. Seven of Robust’s twelve staff members left the company, discouraged by the fact that they’d only managed to win a single customer a year and a half in.

Other founders might have thrown in the towel after this setback, but Singer knew in his core that the AI revolution was just on the horizon. At a picnic table near Robust’s San Francisco office, Singer sat down with Oshiba to confirm whether or not they wanted to recommit to their vision for the company, or if they were going to return money to investors. Both remained all-in.

So with a ‘streamlined’ team of just five employees, Robust Intelligence pushed forward and managed to ship to Expedia on time. Chase soon returned from their pandemic reticence, and then other customers followed suit, including Deloitte, Intuit, the US Government and a certain consulting and systems integration firm who were interested in inking a seven-figure deal. Singer decided it was time to take the team to Vegas to celebrate.

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The fateful Vegas phone call finally confirmed the AI inflection point Singer had been waiting for. AI’s ubiquity—and a corresponding uptick in desire to keep it secure—had finally arrived. Up until that point, Robust had been securing predictive AI, like the work they did for Expedia. ChatGPT (and LLMs more broadly) didn’t predict, they generated—creating images and text based on prompts issued by a user. According to Singer, this ultimately deepened AI’s security risks in profound ways. “The leap to extracting personal medical records or tax information is short,” Singer says. “The privacy breach is unprecedented.”

This threat also created an unprecedented opportunity for Robust, assuming they could figure out how to update their offerings fast enough to keep the company afloat. “All the customers were on hold because they weren’t going to be putting any money on non-generative AI and they didn’t know what their product roadmap was going to look like,” Singer says. 

He proposed a tiger team of two engineers that Oshiba would lead, with the goal of having a working generative AI Firewall prototype within six weeks. Then they would implement a constant six week release cycle, adding more and more test cases, protection mechanisms (and staff) with every new iteration. Within six months, the entire company was focused on building the guardrails that could keep LLMs safe for companies to implement.

Singer met their first paying generative AI customer, a Fortune 100 company, at a Cisco conference where they had been invited to speak after word got out about their latest AI firewall. The company signed on for a pilot, which revealed major vulnerabilities in their system. It also led to a discovery: Companies that were deploying generative AI applications were often fine-tuning existing foundational models in an effort to improve accuracy and cost effectiveness, but in the process, they were exposing those models to new security risks. After Robust presented their findings, the company immediately extended their contract. 

On December 27th, 2023, The New York Times further corroborated Robust’s value proposition. They sued OpenAI and Microsoft for copyright infringement, alleging that their published work had been used to train chatbots. In 2024, Robust was invited to advise on the lawsuit, and helped to demonstrate the simplicity with which LLMs can be trained on copyrighted materials from the internet, which in turn can make that content accessible to a tech-savvy bad actor. “What our team discovered is that anyone can actually extract complete articles from models like ChatGPT,” Singer says. “Which shows that not only can someone with malicious intent get access to copyrighted material through these models, but that they can also access the data that was used to train these models, which then becomes a huge privacy concern.”

Around the same time, President Biden signed the Executive Order on Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence, a growing awareness of what Signer had known for the better part of the last decade: In order to harness the power of AI, you first need to understand its risks and how to keep it secure. 

Robust Intelligence began 2024 very differently than 2023. Instead of losing a major client and having to change their entire product and technology, they were approached with a new opportunity. 

Despite their increasing success, Singer could see that LLMs were scaling faster than his company possibly could. In order to have the impact he aspired to, he would have to partner with a larger company. So in the summer of 2024, after receiving three other offers, Singer accepted Cisco’s $400M bid to acquire Robust Intelligence.  

He views Cisco as precisely the kind of company that can give Robust the necessary support and infrastructure to secure an ever-expanding AI landscape. That infrastructure, powered by a workforce of twenty-five thousand people, creates a step change in terms of Robust’s reach and opportunity. “AI is now being put at the front of Cisco’s focus,” Singer says. “And Robust Intelligence now has the opportunity to lead the charge.”

They are already seeing the returns of this partnership, landing new clients like BMW, who came to Robust for help securing their AI-powered concept car, Dee. This is a security challenge on a completely different scale than, say, securing a travel platform trying to predict if a customer will buy a ticket. As the founding team puts it, “the initial problems we were focused on were these small errors that AI models make that were bad for business but not the end of the world. But a car crashing into a wall—or even companies who are using AI to decide whether to hire someone or not—these really impact people’s lives.” 

For the man who once dreamed of what it would feel like to make a lasting impact in his field (albeit, originally in a more theoretical realm), Singer can’t help but be compelled by Cisco’s centrality in the technology landscape. “Cisco runs the internet, and if every AI application that is running through the internet can be secured through a Robust Intelligence AI firewall, what bigger impact could we have on the world?” he says, adding, “this is the definition of the dream.” 

Share Share this on Facebook Share this on Twitter Share this on LinkedIn Share this via email Related Topics #AI Wiz: The Story Behind Their Rapid Ascent by Harry Spitzer Spotlight Battling the Trojan Horse in Open Source Spotlight Read Transforming the Command Line at Warp Speed Spotlight Read Arvind Jain Pushes into AI-powered Productivity Spotlight Read

The post Robust Intelligence Spotlight appeared first on Sequoia Capital.


bankless

Getting Started with Crypto AI Agents

Agents are making a splash across tech, but what does crypto bring to the table?
Agents are making a splash across tech, but what does crypto bring to the table?

Defiant

Crypto Sleuth ZachXBT Cashes Out $4M from Memecoin

When ZachXBT complained of getting ‘zero’ rewards for his highly regarded work, someone launched a memecoin, and its market cap shot up to nearly $90 million.
When ZachXBT complained of getting ‘zero’ rewards for his highly regarded work, someone launched a memecoin, and its market cap shot up to nearly $90 million.

SEC Launches Crypto Task Force Led By Commissioner Peirce

The task force will collaborate with other federal agencies to develop a sensible regulatory framework.
The task force will collaborate with other federal agencies to develop a sensible regulatory framework.

Magic Eden Unveils No-Code NFT Launchpad

The multi-chain NFT marketplace enables zero-fee, codeless launchpad capabilities for its terminal product.
The multi-chain NFT marketplace enables zero-fee, codeless launchpad capabilities for its terminal product.

Elon Musk's D.O.G.E Initiative Launches with Dogecoin Logo, Sparking Rally

Trump-backed D.O.G.E faces legal challenges and the abrupt departure of key advisor Vivek Ramaswamy as it promises to modernize federal operations.
Trump-backed D.O.G.E faces legal challenges and the abrupt departure of key advisor Vivek Ramaswamy as it promises to modernize federal operations.

Markets - TRUMP Memecoin Monopolizes Onchain Liquidity

Our chart of the week is JUP.
Our chart of the week is JUP.

Player vs Environment Trading

Trends to Watch (Onchain season, Solana ecosystem)
Trends to Watch (Onchain season, Solana ecosystem)

Crypto Developer Sues DoJ to Have Software Declared Legal

Crypto crowdfunding developer Michael Lewellen fears the government will treat him as an unlicensed money transmitter like the developers of Tornado Cash.
Crypto crowdfunding developer Michael Lewellen fears the government will treat him as an unlicensed money transmitter like the developers of Tornado Cash.

Bitget Research Claims 20% of Gen Z and Alpha are Open to Crypto-based Pensions

According to the study, there is an ongoing shift in retirement planning trends among younger generations.
According to the study, there is an ongoing shift in retirement planning trends among younger generations.

Mark Cuban Considers Memecoin Launch to Reduce U.S. Debt with Trump-Inspired Terms

Billionaire entrepreneur Mark Cuban is reportedly considering launching a memecoin with a unique purpose
Billionaire entrepreneur Mark Cuban is reportedly considering launching a memecoin with a unique purpose

Vitalik Buterin Announces Ethereum Foundation Leadership Overhaul, Allocates 50,000 ETH to DeFi via Aave

Ethereum co-founder Vitalik Buterin announced that the Ethereum Foundation is undergoing significant leadership changes, a process that has been ongoing for close to a year
Ethereum co-founder Vitalik Buterin announced that the Ethereum Foundation is undergoing significant leadership changes, a process that has been ongoing for close to a year

Trump Names Pro-Crypto Mark Uyeda Acting SEC Chair, Vows to End 'War on Crypto'

President Donald Trump has appointed Mark Uyeda as the acting chair of the SEC
President Donald Trump has appointed Mark Uyeda as the acting chair of the SEC

Trump Administration Omitted Cryptocurrency from Immediate Priorities Document, According to Punchbowl

The incoming Trump administration has circulated a document to Republican lawmakers that does not include cryptocurrency among its immediate priorities
The incoming Trump administration has circulated a document to Republican lawmakers that does not include cryptocurrency among its immediate priorities

Monday, 20. January 2025

Defiant

Litecoin Surges on ETF Speculation

Canary Capital’s proposed Litecoin exchange-traded fund took another step as it started the clock on SEC approval.
Canary Capital’s proposed Litecoin exchange-traded fund took another step as it started the clock on SEC approval.

bankless

5 Suggestions for an Ethereum Permanent Art Collection

Could the Ethereum Foundation become a cultural steward of fine art?
Could the Ethereum Foundation become a cultural steward of fine art?

Defiant

Bitcoin DeFi TVL Doubles in a Month Fueled by Babylon Staking Platform

The total value locked in BTCFi soared in mid-December, driven by a weeklong opening of staking platform Babylon, which accounted for 80% of the volume.
The total value locked in BTCFi soared in mid-December, driven by a weeklong opening of staking platform Babylon, which accounted for 80% of the volume.

bankless

Donald Trump's Top Five Crypto Campaign Promises

Will Trump's inauguration trigger a golden bull market?
Will Trump's inauguration trigger a golden bull market?

Defiant

Donald Trump Sworn in as 47th President on January 20, 2025, Promising Bitcoin Reserves and Ross Ulbricht's Comeback

Donald Trump has officially taken office as the 47th President of the United States on January 20, 2025
Donald Trump has officially taken office as the 47th President of the United States on January 20, 2025

Rumble's First $20 Million Bitcoin Investment Marks Start of Ongoing Strategy

Rumble, a video platform valued at $3.6 billion, has made its first purchase of Bitcoin
Rumble, a video platform valued at $3.6 billion, has made its first purchase of Bitcoin

Nillion Announces NIL Airdrop and $50M Funding Ahead of Alpha Mainnet Launch

Nillion, a decentralized network focused on blind computation for AI, is preparing for the launch of its Alpha Mainnet and has announced an airdrop of its token, NIL
Nillion, a decentralized network focused on blind computation for AI, is preparing for the launch of its Alpha Mainnet and has announced an airdrop of its token, NIL

BNB Chain Launches No-Code Solution for Meme Coin Creation

BNB Chain has introduced a new no-code solution that simplifies the creation and management of meme coins
BNB Chain has introduced a new no-code solution that simplifies the creation and management of meme coins

Digital Asset Inflows Hit $2.2 Billion; Bitcoin Leads with $1.9 Billion, Ethereum $246M, XRP $31M

Digital asset investment products experienced inflows of $2.2 billion last week.
Digital asset investment products experienced inflows of $2.2 billion last week.

Ethereum Foundation Considers Staking $1B ETH Holdings for $26M Annual Yield Amid Regulatory Risks After Selling 100 ETH

The Ethereum Foundation is exploring the possibility of staking its holdings of $1 billion worth of ETH, which could generate an estimated annual yield of $26 million
The Ethereum Foundation is exploring the possibility of staking its holdings of $1 billion worth of ETH, which could generate an estimated annual yield of $26 million

Zcash Foundation

The Zcash Foundation’s Q2 and Q3 2024 Reports

The Zcash Foundation is committed to transparency and openness with the Zcash community and our other stakeholders. Today, we are releasing our quarterly reports for the second and third quarters of 2024. As with our previous quarterly reports, this report describes our financial inflow and outflows, with a detailed breakdown of our expenses, and we […]

The Zcash Foundation is committed to transparency and openness with the Zcash community and our other stakeholders. Today, we are releasing our quarterly reports for the second and third quarters of 2024.

As with our previous quarterly reports, this report describes our financial inflow and outflows, with a detailed breakdown of our expenses, and we have included a snapshot of the Foundation’s financial position, in terms of liquid assets and liabilities that must be met using those assets.

These reports also provide our regular overview of the Zcash Foundation engineering team’s work, and other activities the Foundation undertook during Q2 and Q3.

You can download the Q2 2024 report here and the Q3 2024 report here.

Our previous quarterly reports can be found here

 


PIVX

What Could Possibly Go Wrong?

What Could Possibly Go Wrong? Episode 1: The Breach Mark slammed his laptop shut, the harsh click echoing in the cramped office. Beads of sweat clung to his forehead despite the air conditioning’s relentless hum. His inbox overflowed with panicked emails from clients, their carefully crafted investment plans now in tatters. The news was even worse — a massive data breach at John Doe We

What Could Possibly Go Wrong?

Episode 1: The Breach

Mark slammed his laptop shut, the harsh click echoing in the cramped office. Beads of sweat clung to his forehead despite the air conditioning’s relentless hum. His inbox overflowed with panicked emails from clients, their carefully crafted investment plans now in tatters. The news was even worse — a massive data breach at John Doe Wealth, the prestigious financial firm he called home, had exposed the personal and financial information of millions of clients.

Mark, a rising star in the world of wealth management, felt a cold dread seep into his bones. He prided himself on discretion, building trust with his clients by safeguarding their financial privacy. Now, their most sensitive data — social security numbers, investment holdings, even tax returns — were potentially floating around the dark web, ripe for exploitation.

The source of the breach? A seemingly innocuous third-party vendor, a data analytics firm contracted by John Doe to enhance customer experience. Mark had voiced concerns about the extensive data access granted to the vendor, but his warnings were dismissed as “overly cautious.” Now, those concerns were a stark reality.

Images of identity theft, fraudulent transactions, and targeted scams filled Mark’s mind. He envisioned his clients, many of them retirees who had entrusted their life savings to John Doe, becoming victims of financial predators.

The weight of responsibility pressed down on him. He wasn’t just a financial advisor anymore; he was a guardian of his clients’ financial privacy, and he had failed them.

Fuelled by a mix of anger and determination, Mark decided to take matters into his own hands. He delved into the details of the data breach, scouring technical reports and news articles. He discovered a disturbing pattern — a series of similar breaches targeting major financial institutions, all with a common thread: reliance on third-party vendors with lax security protocols.

But this is just the beginning of all that could possibly go wrong.

To be continued…

PIVX. Your Rights. Your Privacy. Your Choice.
To stay on top of PIVX news please visit PIVX.org and Discord.PIVX.org.

What Could Possibly Go Wrong? was originally published in PIVX on Medium, where people are continuing the conversation by highlighting and responding to this story.


Empiria

Empeiria 2024 — From Vision to Reality

Empeiria 2024 — From Vision to Reality Last year was nothing short of transformative for Empeiria. We took bold steps to lay the groundwork for what’s next, turning our vision into reality. Here’s a snapshot of what we achieved: 16 Global Events: From conferences to key summits, we brought our ideas to the world stage. 300+ Meetings: Strategic conversations with industry leaders and
Empeiria 2024 — From Vision to Reality

Last year was nothing short of transformative for Empeiria. We took bold steps to lay the groundwork for what’s next, turning our vision into reality. Here’s a snapshot of what we achieved:

16 Global Events: From conferences to key summits, we brought our ideas to the world stage. 300+ Meetings: Strategic conversations with industry leaders and innovators. 2,000+ Handshakes: Forging connections that will shape the future. 1,000,000+ Transactions on the Empe Blockchain Testnet: A testament to our technology’s readiness. 150+ Validators: Building decentralized trust, one block at a time. 900,000+ On-Chain DIDs: Enabling trusted, decentralized digital interactions.

On top of these major milestones, Empeiria was recognized by OKX, one of the world’s leading cryptocurrency exchanges, as one of the top 5 transformative crypto projects based in Dubai for 2024.

And this is only the start. With the imminent Mainnet launch, token listing, and other groundbreaking developments on the horizon, we’re not just building — we’re reshaping how trust functions in AI and beyond.

Don’t watch from the sidelines — this is your moment to join us and be part of the transformation.

Follow Empeiria on X, or LinkedIn for the latest news & updates. For inquiries or further information, contact Empeiria at media@empe.io

Saturday, 18. January 2025

Defiant

Trump’s ‘Official’ Memecoin Skyrockets to $24 Billion Valuation Within Hours

The President-elect’s social media accounts promoted the TRUMP token as crypto industry executives gathered in Washington for a Crypto Ball.
The President-elect’s social media accounts promoted the TRUMP token as crypto industry executives gathered in Washington for a Crypto Ball.

Horizen - Blog

Horizen 2.0 升级时间表

Horizen 2.0 升级进展顺利,关键技术里程碑已经达成,时间表也十分明确。$ZEN 迁移到新网络的准备工作已经完成,确保 2025 年 6 月主网启动时持有者可以无缝领取代币。Horizen 2.0 目前正在内部 Devnet 上运行,同时团队正在进行各种质量保证和测试,为公开测试网的启动做准备。我们希望提供 Horizen 2.0 升级时间表的摘要,包括我们目前所处的位置以及准备过程中已达到的各种技术里程碑。最近发布了修订后的 Horizen 2.0 白皮书,其中包括 $ZEN 的新代币经济学细节。Horizen 2.0 升级时间表Horizen 2.0 内部开发网:12 月 15 日 ✅Horizen 2.0 公共测试网 - Scout:2025 年 3 月Horizen 2.0 激励测试网启动时间:2025 年 3 月Horizen 2.0 主网启动时间:2025 年 6

Horizen 2.0 升级进展顺利,关键技术里程碑已经达成,时间表也十分明确。$ZEN 迁移到新网络的准备工作已经完成,确保 2025 年 6 月主网启动时持有者可以无缝领取代币。Horizen 2.0 目前正在内部 Devnet 上运行,同时团队正在进行各种质量保证和测试,为公开测试网的启动做准备。

我们希望提供 Horizen 2.0 升级时间表的摘要,包括我们目前所处的位置以及准备过程中已达到的各种技术里程碑。最近发布了修订后的 Horizen 2.0 白皮书,其中包括 $ZEN 的新代币经济学细节。

Horizen 2.0 升级时间表

Horizen 2.0 内部开发网:12 月 15 日

Horizen 2.0 公共测试网 – Scout:2025 年 3 月

Horizen 2.0 激励测试网启动时间:2025 年 3 月

Horizen 2.0 主网启动时间:2025 年 6 月

Horizen 2.0 技术里程碑

将 $ZEN 迁移到 Horizen 2.0 的所有准备工作都已完成,确保新链上线后持有者的代币申领流程顺利进行。持有者目前无需采取任何行动;主网启动后,他们将能够通过专用系统申领代币。

Horizen 2.0 的共识和质押机制已经准备就绪。新的基于 PoS 的系统将使用 AURA 共识算法,该算法决定如何选择收集者来生成区块,并支持 $ZEN 的代币经济学和网络安全。

Horizen 2.0 上启用 EVM 功能的工作已经完成。这使开发人员能够用 Solidity 构建智能合约并移植基于以太坊的应用程序,从而增强 Web3 生态系统内的互操作性。

Horizen 2.0 平行链的测试版本已成功与 zkVerify 的测试中继链集成,实现了两条链之间同时生成区块和通信。这是将 zkVerify 的验证功能纳入 Horizen 2.0 的一步。

Horizen 2.0 Devnet 是一个内部测试网,现已启用。它用于测试关键功能,并确保在激励测试网和公开推出之前一切按预期运行。这个内部网络可帮助团队在公开之前完善系统。

Horizen 2.0 白皮书

除了 Horizen 2.0 技术升级里程碑之外,Horizen Labs 团队还发布了 Horizen 2.0 白皮书,概述了 Horizen 生态系统的重大进步和战略升级,旨在增强其功能、可扩展性、安全性和互操作性。

这篇论文讨论了 ZK 应用目前面临的挑战,包括成本高、网络拥塞和有限的证明机制。这篇论文还介绍了 $ZEN 的新代币经济学细节。

Horizen 2.0 通过针对 ZK 应用优化的 EVM 提供解决方案:

以最小成本实现更快的 ZK 证明

灵活的证明系统

高效的网络设计,具有原生 zkVerify 集成

增强的安全性和可扩展性

本白皮书将 Horizen 定位为 ZK 领域的领导者,为未来更高效、更可扩展的区块链应用铺平道路。

通过 Horizen 2.0 深入了解区块链的未来,并了解它将如何推动下一波创新!在此处阅读完整的白皮书。

与往常一样,我们仍然可以通过Horizen Discord为用户解答任何问题、提供所需的支持或其他信息!

  订阅Horizen 将最新更新直接发送到您的收件箱。

The post Horizen 2.0 升级时间表 appeared first on Horizen Blog.

Friday, 17. January 2025

Defiant

Base Eyes $100B in Assets and 25M Users On-Chain in 2025

Coinbase’s Base Layer 2 chain sets “big, hairy, audacious” goals for this year.
Coinbase’s Base Layer 2 chain sets “big, hairy, audacious” goals for this year.

Ethereum Layer 2 Abstract Announces Incentives Program

Mainnet is slated to launch before the end of January, and Abstract just announced its version of a points program.
Mainnet is slated to launch before the end of January, and Abstract just announced its version of a points program.

Ethereum Pectra Network Upgrade to Go Live in March

Hard forks on Ethereum test networks have been scheduled for February ahead of the mainnet launch.
Hard forks on Ethereum test networks have been scheduled for February ahead of the mainnet launch.

AGIXT Token Surges to $100 Million Market Cap Hours From Launch

The token is the latest AI Agent infrastructure token to launch on PumpFun.
The token is the latest AI Agent infrastructure token to launch on PumpFun.

Tether Launches Cross-Chain Stablecoin USDT0

Tether launched USDT0 on Kraken’s Layer 2, Ink.
Tether launched USDT0 on Kraken’s Layer 2, Ink.

bankless

AI x Crypto's 'Picks & Shovels' Trade

Why AI agent infra projects are the picks and shovels trade of the AI x Crypto meta. 
Why AI agent infra projects are the picks and shovels trade of the AI x Crypto meta. 

Defiant

Markets - Bitcoin Hits $109,000 Ahead of Trump's Inauguration

Our chart of the week is XRP.
Our chart of the week is XRP.

Trenches Transition Away From Memes

Trends to Watch (Hyperliquid ecosystem, AI agent froth)
Trends to Watch (Hyperliquid ecosystem, AI agent froth)

Crypto Trading Volumes on Centralized Exchanges Reached Record $11.3 Trillion in December

Last month marked a historic peak in crypto trading volumes on centralized exchanges, driven by increased market activity and Bitcoin's price surge.
Last month marked a historic peak in crypto trading volumes on centralized exchanges, driven by increased market activity and Bitcoin's price surge.

Multicoin Proposal Seeks to Reduce SOL Inflation and Transition to Market-Driven Emissions

As Solana’s economic activity grows, a new proposal suggests shifting from fixed emissions to a dynamic system.
As Solana’s economic activity grows, a new proposal suggests shifting from fixed emissions to a dynamic system.

Thursday, 16. January 2025

Defiant

Ross Ulbricht Memecoins Tag All-Time Highs On Commutation Bets

Traders are buying up the rumor that President Donald Trump will hold to his word and commute the Silk Road founder’s sentence.
Traders are buying up the rumor that President Donald Trump will hold to his word and commute the Silk Road founder’s sentence.

Coinbase Rolls Out Bitcoin-Backed Loans with Morpho

Coinbase Vice President Max Branzburg called the loans a way of “unlocking economic freedom for all.”
Coinbase Vice President Max Branzburg called the loans a way of “unlocking economic freedom for all.”

Phantom Wallet Raises $150 Million in Funding Round, Doubles Valuation to $3 Billion

Phantom Wallet has successfully raised $150 million in a funding round that has elevated its valuation to $3 billion
Phantom Wallet has successfully raised $150 million in a funding round that has elevated its valuation to $3 billion

AI16z and Eliza Wakes Up Launch $420,000 Physical Robot

Eliza Wakes Up is now accepting pre-orders for its life-sized Eliza robot.
Eliza Wakes Up is now accepting pre-orders for its life-sized Eliza robot.

1Money Raises $20 Million to Build Stablecoin Payments Network

Over 20 venture firms participated in the platform’s seed funding round, including F-Prime Capital and Galaxy Ventures.
Over 20 venture firms participated in the platform’s seed funding round, including F-Prime Capital and Galaxy Ventures.

Will the Next Crypto ETF Belong to Litecoin?

LTC is rallying after analysts saif they see signs that an ETF proposal is moving ahead at the SEC.
LTC is rallying after analysts saif they see signs that an ETF proposal is moving ahead at the SEC.

bankless

Citizen DeFi Play: The Morpho Trade

Dig into this DeFi lending app traders keep flocking to.
Dig into this DeFi lending app traders keep flocking to.

Defiant

Monsters.fun Waitlist Launches for AI-Driven Crypto Battles on Abstract, Led by Luca Netz

The waitlist for the new blockchain project, Monsters.fun, has officially launched
The waitlist for the new blockchain project, Monsters.fun, has officially launched

Trump's Treasury Nominee Bessent Opposes US CBDC: 'No Reason to Have One'

During his confirmation hearing, Scott Bessent, President-elect Donald Trump's nominee for Treasury Secretary, stated that he sees no reason for the United States to have a Central Bank Digital Currency (CBDC)
During his confirmation hearing, Scott Bessent, President-elect Donald Trump's nominee for Treasury Secretary, stated that he sees no reason for the United States to have a Central Bank Digital Currency (CBDC)

XRP Surges to All-time High Market Capitalization of $192 Billion

Whales have accumulated approximately $3.8 billion in XRP since Nov. 12, according to Santiment.
Whales have accumulated approximately $3.8 billion in XRP since Nov. 12, according to Santiment.

XRP and Solana Surge as Bitcoin and Ethereum Slide

Heightened volatility rocks the cryptocurrency market ahead of Donald Trump’s inauguration on Jan. 20.
Heightened volatility rocks the cryptocurrency market ahead of Donald Trump’s inauguration on Jan. 20.

DeFAI and AI Agents Lead as Altcoins Rebound

AI Agents remain the strongest performers in the crypto markets, with a bounce led by AIXBT, ARC, and GRIFFAIN.
AI Agents remain the strongest performers in the crypto markets, with a bounce led by AIXBT, ARC, and GRIFFAIN.

Spot Trading Volumes Surged to Record $6.46 Trillion in Q4: CoinGecko

CoinGecko’s 2024 Annual Crypto Industry Report highlighted AI market cap and Solana’s market share spiking in the fourth quarter.
CoinGecko’s 2024 Annual Crypto Industry Report highlighted AI market cap and Solana’s market share spiking in the fourth quarter.

Dubai to Open World’s First ‘Crypto Tower’ by 2027

The 17-story Crypto Tower is set to become a hub for blockchain, Web3, and DeFi companies.
The 17-story Crypto Tower is set to become a hub for blockchain, Web3, and DeFi companies.

AnchorZero’s Roth IRA Shields Pre-Listing Tokens from Capital Gains Taxes


World Liberty Financial Dumps BTC For ETH Amid Treasury Shuffle

The Trump-affiliated DeFi platform recently swapped 103 Wrapped Bitcoin worth $10 million for 3,075 ETH.
The Trump-affiliated DeFi platform recently swapped 103 Wrapped Bitcoin worth $10 million for 3,075 ETH.

Thailand Considers Bitcoin ETFs as Crypto Adoption Grows in Asia

The country’s SEC is exploring listing Bitcoin ETFs on local exchanges, following the launch of a fund offering exposure to overseas options.
The country’s SEC is exploring listing Bitcoin ETFs on local exchanges, following the launch of a fund offering exposure to overseas options.

Franklin Templeton Says AI Agents Will ‘Revolutionize’ Social Media, Sending Tokens Soaring

The global investment manager’s report sent AI agent tokens up 30% to 90%.
The global investment manager’s report sent AI agent tokens up 30% to 90%.

Jupiter’s Jupuary Airdrop Checker Goes Live

700 million JUP, approximately $581 million will be airdropped to eligible participants across three categories.
700 million JUP, approximately $581 million will be airdropped to eligible participants across three categories.

Base Ecosystem Rallies After Coinbase Lists TOSHI

The memecoin is Coinbase’s first Base-native listing, and also the one with the lowest market capitalization.
The memecoin is Coinbase’s first Base-native listing, and also the one with the lowest market capitalization.

Brave Browser

Brave Search now offers real-time blockchain data results with unmatched privacy

Brave Search adds private blockchain explorer: check ETH & Solana wallets with real-time accuracy.

This post describes work done by Anirudha Bose (Staff Engineer, Web3) and Michele Ferri (Search Engineer).

Today, we’re excited to introduce on-chain capabilities to Brave Search, enabling users to receive better results than traditional search engines and blockchain explorers by delivering live data with privacy protection. Available today for all Brave Search users around the world, this feature lets users look up any Ethereum address, Ethereum Name Service (ENS) domain, or Solana account, and view their entire portfolio of token balances.

We deliver these results with a real-time guarantee and uncompromising privacy. Traditional block explorers can link wallet addresses to IPs and later send this data to those interested in removing the pseudonymity of blockchains. Brave has a long proven history of caring for the privacy of your browsing and searching, and now it can also maintain the privacy of your on-chain lookups.

Brave Search as a blockchain explorer

A search engine is the first place we go to for answers. This is true for simple informational queries, and also for much longer, more specific ones. For example, the Brave Search team noticed a larger-than-expected number of queries that were 40 characters long. While these weren’t typical search queries, they clearly served a purpose to the user. We realized our users were looking to access blockchain data, and specifically, to check token balances associated with these addresses. This insight led us to enhance Brave Search with integrated functionality that instantly surfaces valuable on-chain data directly in search results, without requiring users to visit external websites.

Token balances of vitalik.eth ENS domain on OP Mainnet

Token balances of a canonical EVM address on Ethereum

Token balances of a canonical Solana account

Real-time results

The nature of on-chain data is such that it needs to be current in order to be useful. Search engines that surface rudimentary on-chain data typically rely on third-party indexers, which can introduce lags and inconsistencies between what is shown and the current chain state.

EVM address balances on Google can often be outdated

Based on our experience building Brave Wallet, we took a different approach to on-chain searches that guarantees results have real-time accuracy. This means you can trust that the information you’re seeing is accurate at the moment of your query, not what it was minutes or blocks ago.

Having real-time querying capability is particularly important for handling rebase tokens that automatically adjust their supply and holders’ balances. For example, Staked Ether (stETH) by Lido Finance uses a rebase function in order to maintain price parity and pay out staking rewards. While traditional indexers only refresh balances when triggered by external transactions, our approach ensures that token balances are correctly captured even if elastic supply mechanisms cause them to change between transactions.

Privacy preserving

Brave Search does not profile you, or retain your IP address. This eliminates scenarios where blockchain explorers could potentially aggregate and analyze patterns in your address lookups, and thus build a comprehensive profile that’s linked to your IP address.

Such information, if shared or breached, could be exploited by entities seeking to unmask the pseudonymous nature of cryptocurrency transactions. By choosing Brave Search for your on-chain lookups, you can protect yourself from surveillance and potential deanonymization attempts.

Feature comparison Brave Search Google Ethereum Virtual Machine (EVM) Yes (6 networks) Yes (5 networks) Solana Yes No Native asset balances Yes Yes Token balances Yes No Ethereum Name Service (ENS) support Yes Limited Rebase tokens support Yes No Real-time results Yes No Pricing data Yes No Privacy preserving Yes No Available now for all Brave Search users

Starting today, on-chain address lookups for EVM and Solana are available to all Brave Search users worldwide, regardless of what browser they are using. ENS domains are also supported, making it easier to look up EVM addresses using human-readable names.

This feature represents a significant first step towards helping users search on-chain data in Brave Search, and we’re committed to innovating on this front in the future.

About Brave Search

Brave Search is the fastest growing independent search engine since Bing. Unlike Big Tech search engines, Brave Search does not profile its users; unlike supposedly alternative engines, Brave Search serves results from a truly independent index of the Web. This means Brave Search can offer both industry-leading privacy and an effective counter to the bias and censorship prevalent in Big Tech’s personalization.

Brave Search continues to reach new all-time highs, serving more than 42 million queries per day (and more than 1.2 billion queries each month). It’s the default search engine for most new Brave browser users, which now has over 77 million users worldwide.

Wednesday, 15. January 2025

Defiant

Solana-based Roam is Building a Decentralized WiFi Network with Token Rewards

The DePIN project relies on miners who set up WiFi hotspots to earn ROAM rewards to create a secure public WiFi network.
The DePIN project relies on miners who set up WiFi hotspots to earn ROAM rewards to create a secure public WiFi network.

HashKey Forecasts Bitcoin Surging to $300,000 This Year

HashKey’s 2025 outlook anticipates significant market growth driven by decentralized exchanges, AI integration, and global regulatory alignment.
HashKey’s 2025 outlook anticipates significant market growth driven by decentralized exchanges, AI integration, and global regulatory alignment.

bankless

Breaking Down the CryptoPunks Acquisition Rumor

CryptoPunks just surged amid swirling rumors of a Yuga Labs sale, which Yuga has denied.
CryptoPunks just surged amid swirling rumors of a Yuga Labs sale, which Yuga has denied.

How to Get Ready for Berachain

The heavily hyped L1 is almost here. Here's how to get involved with pre-launch opportunities.
The heavily hyped L1 is almost here. Here's how to get involved with pre-launch opportunities.

Defiant

VanEck Files for $NODE, First Actively Managed Onchain Economy ETF with 70 Years of Expertise and Bitcoin Cycle Insights

VanEck has filed for the Onchain Economy ETF, marking the launch of the first actively managed ETF in this sector
VanEck has filed for the Onchain Economy ETF, marking the launch of the first actively managed ETF in this sector

Senator Cynthia Lummis Warns 'Things Are About to Get Crazy' for Bitcoin Investors Amid Strategic Bitcoin Reserve Proposal

Senator Cynthia Lummis has made headlines with a statement indicating that 'things are about to get crazy' regarding Bitcoin and cryptocurrency regulations
Senator Cynthia Lummis has made headlines with a statement indicating that 'things are about to get crazy' regarding Bitcoin and cryptocurrency regulations

XRP Hits $3 for First Time Since 2018, Surpassing BlackRock's Market Cap

XRP, a cryptocurrency, has surpassed the $3 price mark for the first time since 2018
XRP, a cryptocurrency, has surpassed the $3 price mark for the first time since 2018

Italy's Largest Bank Makes Spot Bitcoin Purchase, Prepares for Demand from High-Net-Worth Clients

Italy's largest bank has made a spot Bitcoin purchase, signaling its readiness to meet increasing demand from high-net-worth clients
Italy's largest bank has made a spot Bitcoin purchase, signaling its readiness to meet increasing demand from high-net-worth clients

Crypto Market Rallies as CPI Report Fuels Investor Optimism

Improved U.S. inflation figures have bolstered confidence in digital assets, with Bitcoin and Ethereum leading a broad market rally.
Improved U.S. inflation figures have bolstered confidence in digital assets, with Bitcoin and Ethereum leading a broad market rally.

Bitfinex’s LEO Surges After US Court Order To Return 120,000 of Stolen Bitcoin To Exchange

U.S. government to surrender over half of Its Bitcoin holdings.
U.S. government to surrender over half of Its Bitcoin holdings.

SEC Commissioners Said To Be Planning Crypto Overhaul When Gensler Leaves

SEC Chairman Gary Gensler’s planned departure on inauguration day will leave two pro-crypto commissioners in charge until joined by incoming Chairman Paul Atkins.
SEC Chairman Gary Gensler’s planned departure on inauguration day will leave two pro-crypto commissioners in charge until joined by incoming Chairman Paul Atkins.

CryptoPunks Rally on IP Acquisition Speculation

The flagship NFT profile picture collection is up 10% on the rumor, but Yuga’s CEO has denied the claims.
The flagship NFT profile picture collection is up 10% on the rumor, but Yuga’s CEO has denied the claims.

a16z Podcast

Marc Andreessen: Can Tech Finally Fix Healthcare?

Healthcare is a $4 trillion industry, making up nearly a fifth of the U.S. economy—but despite having some of the best doctors and advanced technology, the system often delivers poor outcomes at skyrocketing costs. Why is this the case, and what will it take to fix it? In this episode, a16z cofounder Marc Andreessen and General Partners Vijay Pande and Julie Yoo tackle some of the biggest questio

Healthcare is a $4 trillion industry, making up nearly a fifth of the U.S. economy—but despite having some of the best doctors and advanced technology, the system often delivers poor outcomes at skyrocketing costs. Why is this the case, and what will it take to fix it?

In this episode, a16z cofounder Marc Andreessen and General Partners Vijay Pande and Julie Yoo tackle some of the biggest questions shaping the future of healthcare:

Is the solution to our healthcare crisis a policy, technology, or competition problem? Will AI and technology transform the industry, or are regulatory and structural barriers too entrenched? Who will crack the code—healthcare incumbents, tech giants, or AI-native startups?

From chronic care to cost curves, from disruptive technologies to shifting patient agency, this conversation offers an unfiltered look at what’s broken in the healthcare system and how it might finally change.

Resources: 

Find Marc on X: https://x.com/pmarca

Find Vijay on X: https://x.com/vijaypande

Find Julie on X: https://x.com/julesyoo

The Biggest Company in the World

Why Will Healthcare be the Industry that Benefits Most from AI?

Grand Challenges in Healthcare AI with Vijay Pande and Julie Yoo

Stay Updated: 

Let us know what you think: https://ratethispodcast.com/a16z

Find a16z on Twitter: https://twitter.com/a16z

Find a16z on LinkedIn: https://www.linkedin.com/company/a16z

Subscribe on your favorite podcast app: https://a16z.simplecast.com/

Follow our host: https://twitter.com/stephsmithio

Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.


Defiant

Bitwise Says Nations Holding Bitcoin Will Double in 2025

Bitwise's prediction comes amid growing global adoption of Bitcoin, as more countries recognize its potential as a hedge against economic uncertainty.
Bitwise's prediction comes amid growing global adoption of Bitcoin, as more countries recognize its potential as a hedge against economic uncertainty.

Horizen - Blog

Horizen 2024年年度复盘报告

2024 年:Horizen 的变革之年2024 年对于 Horizen 来说无疑是一个变革性的一年。从突破性的升级到增强的代币经济学和大胆的品牌更新,这一年标志着我们旅程中的决定性时刻。以下是今年一些最重要的成就:Horizen 2.0 升级和 ZEN 的新代币经济学:升级准备工作正在全速推进!删除屏蔽池:降低 $ZEN 的监管风险,以便我们可以通过创新实现隐私。Grayscale 向美国证券交易委员会提交了 Horizen Trust 的 8-K 文件: 让合格的合格投资者更容易获得 ZEN通过了 7 个 ZenIP:包括可扩展性和治理方面的关键更新。品牌更新:揭晓新的视觉形象。全球增长:$ZEN 实现新交易所上市,举办了众多活动,并获得了媒体的广泛认可。让我们深入了解 2024 年的完整回顾,反思我们的里程碑并为下一步做好准备!Horizen 2.0:为未来铺平道路2

2024 年:Horizen 的变革之年

2024 年对于 Horizen 来说无疑是一个变革性的一年。从突破性的升级到增强的代币经济学和大胆的品牌更新,这一年标志着我们旅程中的决定性时刻。

以下是今年一些最重要的成就:

Horizen 2.0 升级和 ZEN 的新代币经济学:升级准备工作正在全速推进!

删除屏蔽池:降低 $ZEN 的监管风险,以便我们可以通过创新实现隐私。

Grayscale 向美国证券交易委员会提交了 Horizen Trust 的 8-K 文件: 让合格的合格投资者更容易获得 ZEN

通过了 7 个 ZenIP:包括可扩展性和治理方面的关键更新。

品牌更新:揭晓新的视觉形象。

全球增长:$ZEN 实现新交易所上市,举办了众多活动,并获得了媒体的广泛认可。

让我们深入了解 2024 年的完整回顾,反思我们的里程碑并为下一步做好准备!

Horizen 2.0:为未来铺平道路

2024 年 6 月,Horizen 社区以压倒性多数投票决定将 Horizen 主链和 Horizen EON 升级到新的、更先进的区块链架构Horizen 2.0。

这次重大升级解决了遗留系统的局限性,并使 Horizen 成为 ZK 技术中心的愿景保持一致。

已实现的关键里程碑

迁移准备:$ZEN 迁移的准备工作已经完成,并且已拥有无缝的代币领取流程,可供主网启动使用。

共识和质押机制已准备就绪:使用 AURA 共识算法的新型 PoS 系统将增强网络安全性并支持 $ZEN 的代币经济学。

EVM 兼容性就绪:EVM 功能支持 Solidity 智能合约和以太坊应用程序的互操作性。

zkVerify 集成就绪:Horizen 2.0 测试平行链成功与 zkVerify 的测试中继链连接,为先进的 ZK 证明系统铺平了道路。

内部开发网络已启动:内部测试网络已上线,正在完善公开发布之前的关键功能。

了解有关 Horizen 2.0 升级的更多信息:

  Horizen 2.0 | 下一代第 1 层平台 探索 Horizen 2.0 的 ZK 优化平台,使开发人员能够使用先进的证明系统构建创新应用程序…… www.horizen.io Horizen 2.0 白皮书发布

Horizen 2.0 白皮书概述了 Horizen 生态系统的重大进步和战略升级,旨在增强其功能、可扩展性、安全性和互操作性。

白皮书讨论了 ZK 应用当前面临的挑战,包括高成本、网络拥塞和有限的证明机制。

Horizen 2.0 通过针对 ZK 应用优化的 EVM 提供解决方案:

以最小成本实现更快的 ZK 证明

灵活的证明系统

高效的网络设计,具有原生 zkVerify 集成

增强的安全性和可扩展性

通过 Horizen 2.0 深入了解区块链的未来,并了解它将如何推动下一波创新!阅读完整的白皮书

下载.horizen.io   下载.horizen.io ZEN 的新代币经济学

ZenIP 42407 的通过正式为 Horizen 2.0 引入了新的代币经济学。这标志着 Horizen 生态系统发展的关键时刻,为长期增长和稳定奠定了基础,使网络的财务模型与其成为 zk 领域领导者的长期愿景保持一致。

这一变化是 Horizen 更大目标的一部分,旨在增强其去中心化应用程序生态系统,尤其是那些使用零知识技术的应用程序。这些代币经济学变化解决了剩余 ZEN 代币的分配、归属时间表和奖励系统,以确保可持续增长、网络安全和生态系统参与者的激励。

以下是 $ZEN 新代币经济学的摘要:

在我们的博客文章中详细了解已实施的变更以及它们对 Horizen 生态系统的意义:

  Horizen 2.0 的新代币经济学:向前迈出的重要一步 新的代币经济学标志着 Horizen 生态系统演变的关键时刻,为长期增长奠定了基础…… 镜子.xyz ZEN 第二次也是最后一次减半

2024 年 12 月 12 日,Horizen 在其代币经济学发生突破性转变之前,通过最后一次减半事件达到了一个重要里程碑。

这不仅仅是又一次减半——经过八年的增长、技术进步和社区合作,这一事件标志着一个新时代的开始——标志着向更平滑的排放曲线的转变。

这一里程碑增强了 ZEN 的稳定性,促进了生态系统的发展,并为 Horizen 在 2025 年即将到来的权益证明 (PoS) 转型做好了准备。

在我们的博客文章中了解有关第二次也是最后一次 Horizen 减半的更多信息:

  ZEN 最后一次减半:Horizen 进入新时代 2024 年 12 月 12 日,$ZEN 将经历最后一次减半,之后该项目的代币经济学将迎来重大转变。这一里程碑意味着…… 镜子.xyz ZEN 可访问性和交易所列表

2024 年,$ZEN 显著扩大了其可访问性,标志着其在获得全球认可的道路上迈出了重要的里程碑。

新交易所上市

值得注意的成就包括gTrade和Bitvavo上的新上市,使 $ZEN 可供更广泛的受众使用,并为交易者提供更多使用该代币的机会。这些新增功能提高了 $ZEN 在知名平台上的知名度和可访问性,巩固了其在市场上的地位。

Binance 删除了 ZEN 的监控标签

今年早些时候,币安取消了之前对 $ZEN 的监控标签,此举反映了该项目在加密货币领域的增长、合规性和增强的声誉。

Grayscale 向美国证券交易委员会提交了Horizen Trust的8-K 表格

此外,当 Grayscale Investments 向美国证券交易委员会提交 Horizen Trust 的 8-K 表格时,实现了一个重要的监管里程碑。

该文件强调了机构对 Horizen 的兴趣,并表明生态系统的合法性和信任度有所提高,进一步将 $ZEN 定位为区块链领域的可靠资产。

这些发展进一步证明了 $ZEN 的持续增长及其在市场中的认可度不断提高。

ZenIPs:管理和推动创新

Horizen 社区于 2024 年对 7 项 ZenIP(ZEN 改进提案)进行了投票,其中包括:

ZenIP 42207:从 Horizen 主链中移除屏蔽池 – 99.97% 赞成

ZenIP 42400:通过模块化证明验证层实现 Horizen 技术的现代化 – 100% 支持

ZenIP 42401:更新提案和法定人数门槛 – 77.34% 赞成

ZenIP 42404:EON 上的委托质押奖励机制 – 99.87% 赞成

ZenIP-42405:指示 Horizen 基金会请求 $ZEN 和 EON 的迁移提案 – 99.99% 赞成

ZenIP 42406:$ZEN 和 EON 迁移的技术路线图 – 99.87% 支持

ZenIP 42407:Horizen 2.0 代币经济学 – 100% 支持

在此处查看所有 ZenIP 的完整详细信息和投票细目:

快照.box   快照.box Horizen 品牌更新

今年早些时候,Horizen 推出了全新的品牌形象,开启了激动人心的新篇章,标志着其使命发生了重大转变。

这不仅仅是一次视觉上的更新,更是一次让我们更接近实现使命的进化,团结所有相信由隐私保护技术和可验证信任驱动的未来的人。

我们有目的地创建了我们的新品牌,以体现我们的使命并与所有与我们有着共同愿景的人产生共鸣,即建立一个安全、去中心化和可验证的世界。

查看下面的新 Horizen 网站和品牌!

  Horizen | 隐私新时代 Horizen 的 Layer 1 平台可让您使用先进的零知识技术构建安全且私密的应用程序。选择… www.horizen.io IRL 全球活动

2024 年期间,Horizen 团队参加了许多全球加密 / web3 活动,与全球的开发人员、建设者和爱好者建立了联系:

丹佛理工学院

巴黎区块链周

以太坊基金会

共识

ETHCC + Polkadot 解密

Coinfest 巴厘岛 + 韩国区块链周

Token2049 新加坡

米兰理工学院

zkSummit12

币安区块链周

德文康

媒体报道

在整个 2024 年,Horizen Labs 团队和 Horizen 贡献者参加了许多不同的采访、播客、思想领导力文章等!

以下是今年的一些最佳作品:

社区 AMA 和播客

Horizen 的未来:ZK Apps 的下一代 EVM 的 AMA

Rob Viglione – House of ZK 电台节目

与 Rob Viglione 就 ZK 的所有事宜进行加密预言机通话

zkTalk 1 与 Gevulot – Horizen Labs 的 John Camardo 讨论了 Horizen 和 ZK 以及其他事项。 

绝对零知识播客第 11 集,由 Horizen 联合创始人 Robert Viglione 主持

更快更便宜的证明验证将如何促进 ZK 的扩张?Rollupco 采访 Rob Viglione 和 John Camardo

新地平线品牌外观和感觉流

媒体与思想领导力

StealthEX 关于 Horizen、Horizen Labs 和 zkVerify 的 AMA

zkTalk 与 Gevulot 讨论 zkVerify、zk Tech 和 Horizen

联合创始人 Rob Viglione 为 CoinMarketCap 词汇表撰写了“模块化验证证明”

联合创始人 Rob Viglione 在 Cointelegraph 的一篇文章中评论了基于区块链的选举的潜力

利用 ZK 克服障碍

Rob Viglione – 加密货币塑造全球经济 

Rolf Versluis 的 zkVM 基准测试标准小组

Rob Viglione 谈 AI 模型

什么是数据完整性?为什么它如此重要?

展望 2025 年:Horizen 的新时代

2025 年对于 Horizen 来说将是开创性的一年!

激励性公共测试网

今年第一季度,备受期待的 Horizen 2.0 激励性公共测试网将正式启动,让社区有机会参与、测试并提供反馈,为正式发布做好准备。除此之外,还将引入治理支持,让社区能够更加积极地参与塑造网络的未来。

Horizen 2.0 主网

在第二季度,我们正为 Horizen 2.0 主网的发布做准备,这是一个重要的里程碑,它将为扩展和去中心化开启新的可能性。

zkVerify 代币申领

此外,在第二季度,符合条件的 ZEN 持有者将在主网启动时被纳入 zkVerify 的预期初始代币供应量中。

Horizen 特别理事会选举

别忘了二月!我们很高兴地宣布 Horizen 特别理事会选举,7 个席位中有 4 个将进行选举。这是一个激动人心的机会,社区内的领导者可以站出来帮助指导 Horizen 的未来。如果您有兴趣了解有关这一重要举措的更多信息,请前往我们的公告

  Horizen DAO 特别委员会将于 2 月 15 日投票——谁想出面? Horizen 特别理事会由 7 人组成,他们为 Horizen DAO 提供安全保障。具体角色和职责如下: horizen.discourse.group

未来的旅程充满希望和进步。我们将携手并进,继续建设、创新,突破一切可能的界限。

敬请期待充满动感的一年——2025 年对于 Horizen 来说将是重要的一年!

The post Horizen 2024年年度复盘报告 appeared first on Horizen Blog.


bankless

What’s Next for Sui in 2025

Sui continues to earn new converts. Where is it headed next?
Sui continues to earn new converts. Where is it headed next?

Tuesday, 14. January 2025

Epicenter Podcast

Babylon: Self-Custodial Bitcoin Native Staking & Bitcoin-Secured Networks - David Tse

Throughout the years, there were many attempts of tapping into Bitcoin’s liquidity and security, but almost all of them came with different caveats. Most notably, wrapped BTC (wBTC) depended on the wrapper contract security. However, the recent surge in research and development for native solutions has led to breakthroughs previously thought impossible. Babylon launched native BTC staking and plan

Throughout the years, there were many attempts of tapping into Bitcoin’s liquidity and security, but almost all of them came with different caveats. Most notably, wrapped BTC (wBTC) depended on the wrapper contract security. However, the recent surge in research and development for native solutions has led to breakthroughs previously thought impossible. Babylon launched native BTC staking and plans to further expand this to secure other blockchains, in a model similar to that of mesh security. This would not only help secure other networks, but it would also unlock liquidity from the mother chain through liquid staking derivatives.

Topics covered in this episode:

David’s background The evolution of Babylon The Bitcoin Renaissance Technical challenges of implementing Bitcoin staking The OP_CAT upgrade Babylon’s Bitcoin staking & Bitcoin-secured networks Bridging liquidity & LSTs Securing multiple chains and slashing Babylon chain - aggregating Bitcoin-secured networks Could Bitcoin become a POS chain? Babylon upgradeability

Episode links:

David Tse on X Babylon on X

Sponsors:

Gnosis: Gnosis builds decentralized infrastructure for the Ethereum ecosystem, since 2015. This year marks the launch of Gnosis Pay— the world's first Decentralized Payment Network. Get started today at - gnosis.io Chorus1: Chorus1 is one of the largest node operators worldwide, supporting more than 100,000 delegators, across 45 networks. The recently launched OPUS allows staking up to 8,000 ETH in a single transaction. Enjoy the highest yields and institutional grade security at - chorus.one

This episode is hosted by Brian Fabian Crain & Sebastien Couture.


PIVX

Building a Stronger PIVX Through Ethical Governance

Building a Stronger PIVX Through Ethical Governance Trailing my previous article on the “Ethical Responsibility” of voters within the PIVX ecosystem, I’d be rounding up this series by exploring how a stronger community can be built through ethical governance. When done right, decentralized governance has the potential to foster greater social and economic equity, whilst empowering individuals and

Building a Stronger PIVX Through Ethical Governance

Trailing my previous article on the “Ethical Responsibility” of voters within the PIVX ecosystem, I’d be rounding up this series by exploring how a stronger community can be built through ethical governance. When done right, decentralized governance has the potential to foster greater social and economic equity, whilst empowering individuals and communities.

Beyond cutting-edge technology, the long-term success of PIVX hinges on responsible decision-making that prioritizes the collective good. This encompasses a wide range of principles, such as transparency and accountability, community engagement, as well as and inclusivity. We’d consider each of these principles individually.

Community Engagement

In my opinion, the first point of call for ethical governance is community engagement. Both old and new members should be kept up to speed on the development of the project. There should also be a free flow of information between masternode operators (MNOs), initiators of proposals, and other participants within the network.

Although masternode operators have the final say when approving governance proposals, every member of the PIVX community has a voice. The idea of ethical governance cuts across board, housing both masternodes and non-masternodes.

PIVX already thrives on the active participation of its community. Robust communication channels, such as forums and social media groups should be fully utilized to foster open dialogue and encourage community feedback on all governance proposals.

Transparency and Accountability

Decentralized autonomous organizations (DAOs) lose steam and ultimately die when there is no transparency or accountability. Trust is corroded when decision-making processes are shrouded in secrecy. This creates an environment ripe for abuse and voter apathy.

Ethical governance demands accountability from those who receive funding. Audits and financial reports should be publicly available to ensure transparency and accountability.

Fairness and Inclusivity

I’d have to give it to PIVX on this one. From experience, all members of the PIVX community have equal opportunities to participate in governance. There’s a caveat though — new members may have to prove their expertise before their proposals are approved.

The principle of fairness and inclusivity demands that everyone should be given a chance to contribute. However, measures should be taken to prevent the concentration of power and ensure that the voices of all stakeholders are heard.

Maintaining a friendly and welcoming community atmosphere is crucial for fostering collaboration and innovation. Open and respectful dialogue, even when disagreements arise, is essential for healthy governance.

In conclusion, ethical governance is a collective responsibility and the PIVX community can actively contribute to building a stronger governance framework by actively participating in community discussions and governance proposals, providing constructive feedback and offering thoughtful suggestions, and educating themselves on the technical and economic aspects of the PIVX ecosystem.

PIVX. Your Rights. Your Privacy. Your Choice.
To stay on top of PIVX news please visit PIVX.org and Discord.PIVX.org.

Building a Stronger PIVX Through Ethical Governance was originally published in PIVX on Medium, where people are continuing the conversation by highlighting and responding to this story.


Horizen - Blog

Zk零知识证明将如何塑造我们的数字未来

在隐私、安全和效率日益重要的世界里,零知识证明(ZKP)正在成为一项革命性的技术,有可能改变我们的数字生活。ZKP 不仅仅是一个小众加密概念——它们有可能改变我们在线互动、处理敏感数据和在数字经济中交易的方式。什么是零知识证明?零知识证明是一种加密技术,允许一方(“证明者”)向另一方(“验证者”)证明某个陈述是真实的,而不会透露除了该陈述本身的真实性之外的任何其他信息。这里有一个简单的类比:假设你知道一个复杂谜题的答案。零知识证明可以让你向某人证明你已经解决了这个谜题,而无需向他们展示你是如何做到的。ZKP 既能保证隐私性,又能保证准确性。它们可用于验证身份、交易或计算,而无需暴露任何底层数据。零知识证明如何改变世界尽管听起来很抽象,但 ZKP 已经在各个领域进入实际应用。让我们探索 ZKP 的一些关键应用领域,以及它们如何直接影响您的生活。财务隐私和安全ZKP 正在改变金融交易的开

在隐私、安全和效率日益重要的世界里,零知识证明(ZKP)正在成为一项革命性的技术,有可能改变我们的数字生活。

ZKP 不仅仅是一个小众加密概念——它们有可能改变我们在线互动、处理敏感数据和在数字经济中交易的方式。

什么是零知识证明?

零知识证明是一种加密技术,允许一方(“证明者”)向另一方(“验证者”)证明某个陈述是真实的,而不会透露除了该陈述本身的真实性之外的任何其他信息。

这里有一个简单的类比:假设你知道一个复杂谜题的答案。零知识证明可以让你向某人证明你已经解决了这个谜题,而无需向他们展示你是如何做到的。

ZKP 既能保证隐私性,又能保证准确性。它们可用于验证身份、交易或计算,而无需暴露任何底层数据。

零知识证明如何改变世界

尽管听起来很抽象,但 ZKP 已经在各个领域进入实际应用。让我们探索 ZKP 的一些关键应用领域,以及它们如何直接影响您的生活。

财务隐私和安全

ZKP 正在改变金融交易的开展方式。区块链和加密货币经常被批评为过于透明或过于私密,现在可以使用 ZKP 实现平衡。

保密交易: ZKP 可实现私密交易,隐藏金额和参与者,同时确保交易有效。该技术已在 Zcash 等注重隐私的加密货币中使用。

防欺诈: ZKP 可以在不暴露敏感个人信息的情况下验证用户身份或账户余额,从而降低欺诈风险。对于个人而言,这意味着您可以安全、私密地进行交易,而不必担心您的财务信息被泄露。

彩票和游戏的可验证随机性

ZKP 正在重新定义依赖随机性的系统(如彩票、抽奖和在线游戏)的公平性。在传统系统中,随机性是在幕后生成的,需要用户信任系统运营商。

ZKP 可实现可验证的随机性,从而允许系统:

证明彩票或抽奖的结果是公平产生的,并且不存在任何操纵。

确保在线游戏不存在偏见,同时保护玩家数据的私密性。

Web3 游戏启动板Trailblaze使用零知识验证协议 zkVerify 构建了支持 ZK 的抽奖游戏,以提供可验证的随机性并确保公平的游戏结果。

私密且可验证的投票

选举和投票系统在保持透明度的同时保护选民隐私方面面临挑战。ZKP 通过实现安全、匿名和可验证的投票流程提供了解决方案。

通过 ZKP,选民可以:

私下投票,不透露他们的选择。

核实他们的投票是否被正确计算,确保透明度而不损害匿名性。

随着最近美国大选的到来,一些选民表示他们对投票过程没有信心。我们相信ZKP 可以恢复这种信任

无需过度分享即可进行身份验证

在当今的数字时代,证明您的身份通常需要分享过多的个人信息。例如,在验证您的年龄时,您可能必须分享您的整个身份证件 – 即使验证者只需要知道您是否年满 18 岁。

ZKP 解决了这个问题,它允许您证明具体的细节而不泄露不必要的数据。

零知识证明的未来

随着零知识证明的不断发展,其应用将进一步扩展到供应链透明度、物联网安全和人工智能 (AI) 等领域。特别是,零知识证明有可能通过充当强大的验证技术彻底改变我们使用和信任 AI 系统的方式。

对人工智能的影响:

模型和数据验证: ZKP 可以让 AI 开发人员证明他们的模型是在合乎道德的、公正的数据集上训练的,而无需暴露数据集本身。

决策验证:随着人工智能越来越多地做出影响我们生活的决策(例如在招聘、贷款或法律判决方面),ZKP 可以验证人工智能决策是否基于公平合规的逻辑,而不会暴露专有算法或敏感输入。

身份验证和所有权: ZKP 可以验证 AI 生成内容的所有权或确认 AI 系统输出的真实性,而无需共享模型的内部工作原理。

想象这样一个世界:

人工智能系统无需暴露敏感数据或专有算法即可证明其完整性和公平性。

您可以验证生成式人工智能是否以合乎道德的方式生成了内容,而无需访问其整个训练历史记录。

组织可以确保其 AI 工作流程遵守数据隐私法,而不会牺牲创新。

ZKP 将在建立对 AI 的信任方面发挥关键作用,尤其是当这些系统成为我们日常生活不可或缺的一部分时。通过在不损害隐私的情况下实现可验证的信任,ZKP 可以弥合 AI 技术透明度与创新之间的差距。

想象一下这样一个未来:得益于零知识证明的力量,隐私、透明度和安全性将无缝融入到我们生活的方方面面。

Horizen,我们致力于创新和推动 ZKP 成为现实,使个人和组织能够拥抱更安全、更私密、更分散的数字世界。Horizen 致力于推进 ZKP 技术,确保这一变革性未来不仅是一种可能性,而且是重塑我们与数据、系统和彼此交互方式的必然里程碑。

The post Zk零知识证明将如何塑造我们的数字未来 appeared first on Horizen Blog.


bankless

Will Quantum Computing Topple BTC?

On the Bankless podcast, we dig into questions about the quantum doomsday for Bitcoin.
On the Bankless podcast, we dig into questions about the quantum doomsday for Bitcoin.

Protecting Your Coins from Physical Disaster

Natural disasters can impact your self-custodied crypto holdings; take action.
Natural disasters can impact your self-custodied crypto holdings; take action.

Monday, 13. January 2025

bankless

Azuki Ecosystem Prepares for the $ANIME Launch

The next big NFT-centric airdrop is coming to the Azuki community via $ANIME. Here's everything you need to know.
The next big NFT-centric airdrop is coming to the Azuki community via $ANIME. Here's everything you need to know.

Saturday, 11. January 2025

bankless

The Hyperfy Example: Embracing Virtual Abundance

Hyperfy's new v2 release is a taste of the metaverse to come.
Hyperfy's new v2 release is a taste of the metaverse to come.

Friday, 10. January 2025

bankless

Pre-Inauguration Blues

Weekly Recap: Crypto fights market jitters pre-inauguration while Hyperliquid quells concerns about centralization.
Weekly Recap: Crypto fights market jitters pre-inauguration while Hyperliquid quells concerns about centralization.

U.S. Finance Regulator Goes After Crypto Wallet Providers

Biden admin regulators go after MetaMask and other wallet providers.
Biden admin regulators go after MetaMask and other wallet providers.

DeFAI: Top Projects Tackling AI Agents + DeFi

Unpacking the latest buzzy sector in the fast-evolving crypto AI agent space.
Unpacking the latest buzzy sector in the fast-evolving crypto AI agent space.

UK Creates Crypto Staking Regulatory Carveout

Crypto asset staking providers set to win big with proposed amendment.
Crypto asset staking providers set to win big with proposed amendment.

World Surpasses 10 Million Human Verifications

World, formerly Worldcoin, has surpassed a major progress milestone.
World, formerly Worldcoin, has surpassed a major progress milestone.

PIVX

PIVX Weekly Pulse (Jan 3rd, 2025 — Jan 10th, 2025)

PIVX Weekly Pulse (Jan 3rd, 2025 — Jan 10th, 2025) Stay informed with the latest PIVX news. This weekly update covers recent price action, explores exciting project advancements, and highlights key community developments. Top Stories Trading Live on Poloniex: The PIVX/USDT trading pair has set sail on the Poloniex exchange. Daily trading volumes have already exceeded $250,000, with Wednes
PIVX Weekly Pulse (Jan 3rd, 2025 — Jan 10th, 2025)

Stay informed with the latest PIVX news. This weekly update covers recent price action, explores exciting project advancements, and highlights key community developments.

Top Stories Trading Live on Poloniex: The PIVX/USDT trading pair has set sail on the Poloniex exchange. Daily trading volumes have already exceeded $250,000, with Wednesday witnessing a surge surpassing $520,000. Deposits and withdrawals are also fully operational, ensuring a seamless journey for all PIVX navigators. 20x Perpetual on XT.com: Along with the Poloniex listing, PIVX commenced the year with the introduction of 20x leverage trading on XT.com. As of press time, XT.com had become the largest perpetual market for PIVX, with volume surpassing both WEEX and MEXC combined. Price Actions The Daily USD Value for PIVX ranged between $0.29 and $0.34, with an Average USD price of $0.32. The Daily Trading Volume for PIVX ranged between $2.76M and $5.45M, with an Average Daily Volume of $3.7M. The total transactional volume for the past week was approximately $26 million.

PIVX. Your Rights. Your Privacy. Your Choice.
To stay on top of PIVX news please visit PIVX.org and Discord.PIVX.org.

PIVX Weekly Pulse (Jan 3rd, 2025 — Jan 10th, 2025) was originally published in PIVX on Medium, where people are continuing the conversation by highlighting and responding to this story.

Thursday, 09. January 2025

bankless

Citizen DeFi Play: The Pendle Trade

It's time to tap into this app favored by DeFi pros.
It's time to tap into this app favored by DeFi pros.

CFTC Subpoenas Coinbase Over Polymarket Customer Data

The CFTC isn't done with its war on predictions market platforms.
The CFTC isn't done with its war on predictions market platforms.

Circle Donates $1M in USDC to Trump’s Inaugural Committee

The stablecoin giant joins Ripple and Coinbase in donating to the organization.
The stablecoin giant joins Ripple and Coinbase in donating to the organization.

Do Kwon's Criminal Trial Date Set

The Terra founder faces up to 130 years in prison.
The Terra founder faces up to 130 years in prison.

a16z Podcast

Building Substack: Reinventing Culture through Subscriptions

In this episode, Substack cofounder and CEO Chris Best joins a16z General Partner Andrew Chen to discuss the origins and evolution of Substack, a platform redefining media and empowering creators to connect directly with their audiences. They dive into how Substack’s early days led to over 3 million paid subscribers, why creators are moving away from traditional platforms to establish direct conne

In this episode, Substack cofounder and CEO Chris Best joins a16z General Partner Andrew Chen to discuss the origins and evolution of Substack, a platform redefining media and empowering creators to connect directly with their audiences. They dive into how Substack’s early days led to over 3 million paid subscribers, why creators are moving away from traditional platforms to establish direct connections with their audiences, and how the future of media in the AI era is reshaping opportunities for writers, podcasters, and video creators.

From Chris’s lessons scaling Kik Messaging to Substack’s profound impact on the creator economy, this conversation shares insights on building platforms, culture, and opportunity in the modern era.

 

Resources: 

Find Chris on Substack: https://cb.substack.com/

Find Andrew Chen on Substack: https://andrewchen.substack.com/

 

Stay Updated: 

Let us know what you think: https://ratethispodcast.com/a16z

Find a16z on Twitter: https://twitter.com/a16z

Find a16z on LinkedIn: https://www.linkedin.com/company/a16z

Subscribe on your favorite podcast app: https://a16z.simplecast.com/

Follow our host: https://twitter.com/stephsmithio

Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.


Brave Browser

How “test your adblocker” websites can harm users and the adblocker ecosystem

Adblocker testing sites can be misleading—or even harmful—for a number of reasons. We've outlined the four major issues.

This post was written by Shivan Kaul Sahib (Lead for Privacy Engineering).

Brave provides best-in-class privacy protections, including robust third-party ad and tracker blocking. As demand for privacy grows, more websites have emerged to compare web browsers and extensions. While some of these comparison tools, such as https://privacytests.org and https://coveryourtracks.eff.org, are valuable resources for privacy-conscious users, others can be significantly flawed. This post explores how some adblocking test websites—those that claim to assess adblocker effectiveness—fall short due to poor testing methodology, and even harm the ad and tracker blocking ecosystem through misleading results.

The problem with adblocker testing websites

Adblocker testing sites can be misleading—or even harmful—for a number of reasons. We’ve outlined the four major issues below.

Low-quality tests

First, the quality of these test websites is generally low. While well-intentioned, many adblocking test websites check for blocked domains that are non-existent or not even used for advertising or tracking. Additionally, there is often no—or poor—justification provided for why a particular test exists.

For example, consider a test website that checks whether your adblocker blocks HTML elements with specific class names, such as .box.banner_ads.adsbox. Most testing sites will provide no rationale for why an adblocker should block these elements. It is possible that adblockers have identified more effective selectors to block actual ad-serving elements, but without a clear explanation for the test’s criteria, it’s impossible to evaluate its validity. Essentially, the test arbitrarily checks for blocked elements without any justification for why they should be targeted by any reasonable adblocker.

Savvy users could easily add a custom filter (such as ##.box.banner_ads.adsbox)to adblockers like Brave to artificially pass these tests. However, doing so would provide no tangible benefit, and create unnecessary rules that could inadvertently break websites. Testing, if done carelessly and erroneously, does more harm than good to privacy tools, and ultimately, users.

Tests often do not emulate real-world blocking

Testing websites often fail to emulate real-world ad delivery and tracking practices. For example, some will issue network requests to base domains without specifying full URL paths, and expect them to be blocked, as pointed out by a filter list maintainer. This approach does not reflect how trackers or ad servers operate in practice. Adblock maintainers carefully craft their rules to create the minimum required blocking to avoid breaking website functionality—a nuance these tests ignore entirely.

Tests ignore advanced protective capabilities

Advanced adblocking capabilities, such as resource replacement, are often overlooked in these tests. Resource replacement refers to how adblockers specify replacing a known tracking script with an innocuous version of the script. This is useful for preserving website behavior while still blocking the privacy-harmful script. Because these features aren’t easily measurable by simple network request tests, they’re excluded from a testing website’s scoring mechanism, which can lead to underreporting of an adblocker’s true effectiveness.

Tests cannot account for domain-specific rules

To reduce the risk of website breakage, adblockers often use domain-specific rules (rules that only apply on a particular website) rather than generic rules that apply on all websites. For example, a request to usertrack.js on the website search.com might be something that an adblocker wants to block, because it knows that that usertrack.js on that website is used for cross-site tracking. However, on a different website like shoes.com, a script named usertrack.js could be a legitimate script used for keeping track of user preferences like night mode or theme. Test websites cannot test for this nuance because their evaluations are confined to their own domain. Thus a simple overlap in script naming could lead to scoring mistakes.

Why testing websites can be misleading for users

Fundamentally, these tests are unable to differentiate between adblockers effectively. Most adblockers rely on the same community-maintained filter lists for their blocking rules, with minor deviations. Brave, for instance, directly supports and maintains the well-regarded EasyList projects, and publishes research and techniques related to ad and tracker blocking. This shared foundation allows filter list maintainers to work together and adapt quickly, especially against well-resourced advertising and tracking companies.

This means that testing websites that naively measure “is your adblocker blocking requests to tracker.com?” have limited value, since the underlying rules are mostly the same across major adblockers. Worse, these tests encourage adblockers to manipulate results to avoid misleading users. Both uBlock Origin and AdGuard, two major adblockers, have added workarounds to pass tests (uBO workaround, AdGuard workaround) so as to avoid confusing and alarming their users.

Brave has actively reached out to—and attempted to help—the authors of many test websites to improve their tests in the past (here are just a few examples), but we’ve had to deprioritize such efforts due to fundamental issues in the testing methodology (as described in this post) and the fact that low-quality tests continue to be added.

How adblockers should be measured against one another

Adblockers should (and often do) differentiate themselves in areas like extension-based vs native support, performance, advanced adblocking features, and ethical practices. It’s these differentiators that adblock comparison sites—and users—should focus on.

Extension-based vs. native support

With Google’s Manifest V2 deprecation, adblocking Web extensions face existential threats to their capabilities. At the very least, Manifest V3 severely hamstrings adblocking extensions by imposing a cap on blocking rules and banning background pages while requiring service workers. Brave’s Rust-based adblocking engine, integrated directly into the browser and not dependent on any extensions, remains unaffected by anything Google might require for extensions. This ensures that Brave Shields will continue to offer a superior ad and tracker blocking experience.  Brave will even support some Manifest V2 extensions that users might want to use in the interim before fully switching to Brave Shields as their main adblocker.

Performance

Efficient matching algorithms ensure minimal impact on browsing speed and system resources while blocking ads and trackers. Brave’s Rust-based adblocking engine is built into the browser, thus allowing us to make deep changes in both the browser and the adblocking code which ensures best blocking results and maximum flexibility. We’re actively working on improving our engine’s performance especially as it relates to memory usage.

Advanced adblocking capabilities

Brave constantly ships new adblock features like procedural cosmetic filtering, which allows for fine-grained control over ad and tracker blocking, and to expand the kind of ads we can block for our users.

Ethics

Unlike extensions that participate in “pay-to-play” programs, Brave does not accept payments to unblock certain advertisers or trackers. This ensures that user privacy and experience remain top priority.

In general, adblock tests do more harm than good

We applaud the intention behind these adblocker testing websites. The online third-party based advertising and tracking ecosystem has metastasized to a point that even US intelligence agencies use adblockers internally to counter the threat of malvertising. Brave has been outspoken in its condemnation of third-party advertising and has proposed alternatives like Brave Ads that prioritize the user, not ad-tech third parties. But while well-intentioned, adblocking testing websites currently do more harm than good.  By promoting arbitrary and low-quality metrics, these tests mislead users, force adblockers to adopt unnecessary workarounds, and detract from meaningful advancements in the field.

In addition, while adblockers are a crucial tool, privacy-focused browsers like Brave can protect users in ways that standalone adblockers cannot. Read our privacy updates blog for more details on how Brave ships privacy features to protect and enhance your Web browsing experience. Brave will continue to work with legitimate testing sites like https://privacytests.org and https://coveryourtracks.eff.org and with the larger open source filter list and adblock communities. It’s only through a consistent testing methodology and agreed-on sets of common privacy harms that we’ll be able to improve Web privacy for all users.

Wednesday, 08. January 2025

bankless

Decoding BIO Protocol & DeSci's Big Dreams

How Decentralized Science teams are gearing up to tackle moonshot challenges through onchain coordination.
How Decentralized Science teams are gearing up to tackle moonshot challenges through onchain coordination.

Gary Gensler Discusses Crypto’s Future in Bloomberg Interview

Gensler criticized the crypto space as one 'rife with bad actors.'
Gensler criticized the crypto space as one 'rife with bad actors.'

South Korea Looking To Ease Institutional Crypto Ban

South Korea's Financial Services Commission takes a positive step forward.
South Korea's Financial Services Commission takes a positive step forward.

Coinbase Brings on Team at 'Onchain Browser' Roam

The deal tasks the startup's team with accelerating Coinbase's consumer onchain efforts.
The deal tasks the startup's team with accelerating Coinbase's consumer onchain efforts.

Preparing for the Wayfinder $PROMPT Token

Wayfinder is an AI tool with a highly-anticipated upcoming token launch. Here's everything you need to know.
Wayfinder is an AI tool with a highly-anticipated upcoming token launch. Here's everything you need to know.

Sequoia

Partnering with Gridware: Protect the Grid of Tomorrow

The post Partnering with Gridware: Protect the Grid of Tomorrow appeared first on Sequoia Capital.
Partnering with Gridware: Protect the Grid of Tomorrow

Tim, Hall, Omar and their team are giving utilities unprecedented insight—and reducing incidents that cost money and lives.

By Bryan Schreier and Charlie Curnin Published January 8, 2025 Gridware co-founders A Bin Omar, Tim Barat and Hall Chen.

A utility pole topples over, spilling live wires into a family’s backyard. A tree branch falls on a power line and starts to burn. A wind storm scatters electric lines across a busy street. 

Today, incidents like these cause problems ranging from inconvenience to forest fires and lost lives.  And the costs of even minor outages add up, with an estimated $150 billion lost in the United States each year. But the grid of tomorrow can address these issues quickly and safely—and in many cases, avoid them altogether. 

The U.S. electric grid currently includes about 200 million electric poles. It has more than five million miles of distribution lines. It’s worth something like $1.5 trillion. And, thanks to the nearly 600,000 people who keep it running, it makes practically everything work. Already, the grid provides the power that lets us access the internet and keeps HVAC and medical devices running at home, and enables businesses to take orders and serve customers—and it’s only becoming more critical as the U.S. economy continues its shift to electric power. But what do we do when the grid goes down?

That’s the problem Gridware co-founder Tim Barat has been thinking about since he was a teenager. 

Tim started working in electric infrastructure at 15, when he dropped out of high school to become a linesman in Australia. He saw the risks of the work firsthand, losing colleagues who put their lives on the line to fix power lines. Tim went on to study electrical engineering and computer science at UC Berkeley, where he met co-founders Hall Chen and A Bin Omar. Together, they realized that the outages, wildfires and other risks we associate with electric infrastructure are actually symptoms of a larger problem: utilities don’t have the observability they need. The grid is like a $1.5-trillion car that’s missing a “check engine” light. 

When something goes wrong—when high winds or a fallen tree knock down a power line, or a car clips a pole—most utilities can’t identify and locate the problem without time-consuming, and often dangerous, manual inspections. Crews are forced to either patrol in hazardous weather or wait until storms pass, and delays can be the difference between a non-event and a disaster.

But what if providers could instead gather that information in real-time, tracking and even predicting the health of the grid based on direct measurements from each asset? That’s Gridware: the instrumentation layer for the grid. Their sensors and analytics suite constantly monitor poles, lines, and transformers—even when the power is out—to detect issues as they happen and help utilities respond precisely and efficiently. In many cases, Gridware can even stop issues before they start, catching leaning poles and trees smoldering on energized wires. “If this had not been reported or dispatched,” a customer said about one discovery, “It would have surely caused a forest fire.”

After launching in 2020, Gridware is now working with some of the country’s largest utilities to help them monitor their infrastructure—and the results speak for themselves. In one northern California circuit, outage patrol times are down by 70%. Another midwest utility reported saving 400,000 outage minutes across four circuits, recouping the costs of deploying Gridware after a single event.

We at Sequoia are delighted to be in business with Gridware, and to support their growth by leading their Series A. The electric grid is worth protecting, and we look forward to a future of fewer outages and more reliability thanks to Tim, Hall, Omar and their team.

Share Share this on Facebook Share this on Twitter Share this on LinkedIn Share this via email Related Topics #Enterprise #Funding announcement Partnering with Clipboard: Taking Care of Caregivers News Read Partnering with rift: Sales, simplified. By Stephanie Zhan and Charlie Curnin News Read Commons’ Sanchali Pal Is Putting Climate Action in Your Pocket Spotlight Read Partnering with Harvey: Putting LLMs to Work By Pat Grady and Charlie Curnin News Read JOIN OUR MAILING LIST Get the best stories from the Sequoia community. Email address Leave this field empty if you’re human:

The post Partnering with Gridware: Protect the Grid of Tomorrow appeared first on Sequoia Capital.


Panther Protocol

Monthly Update: December 2024

Fellow Panthers,  December marked another milestone month for Panther, featuring strategic partnerships, significant technological advancements, and increased visibility within the broader DeFi community through notable media appearances. Read on below to learn about what happened in December:  Ecosystem Updates Key partnerships were announced in Panther’s ecosystem,

Fellow Panthers, 

December marked another milestone month for Panther, featuring strategic partnerships, significant technological advancements, and increased visibility within the broader DeFi community through notable media appearances.

Read on below to learn about what happened in December: 

Ecosystem Updates

Key partnerships were announced in Panther’s ecosystem, including with prospective Zone Managers and important media, research, and KOL outlets. 

The Panther Protocol Foundation (PPF) announced agreements with two prospective Zone Managers, who, if successful, will operate their own logical confidential transaction partitions within Panther’s Shielded Pool. As part of the agreements, both parties will explore community building opportunities to promote these Zones and their transformative potential in the DeFi space.

Eurobit

PPF announced its partnership with Eurobit, a Spanish crypto exchange and Virtual Asset Service Provider (VASP). Under the agreement, Eurobit will apply to operate a dedicated Zone within Panther’s Shielded Pool. If successful, Eurobit would oversee end-to-end compliance within the Zone, including KYC/KYT processes, user allowlisting, and transaction limits, allowing its users to benefit from Panther’s Privacy-Enhancing technology (PET). 

PureFi

Additionally, PPF entered into an agreement with PureFi, a KYC/KYT solutions provider for DeFi. This agreement expands on its existing role as an official Panther compliance partner also to include applying to operate its own Zone. If successful, PureFi would be poised to introduce enterprise users, including asset managers and institutions, to PET. This partnership leverages PureFi’s already-integrated compliance technology, strengthening a robust relationship and setting the stage for more secure and accessible DeFi services.

Messari 

To further raise awareness among key demographics including prospective Zone Managers and high-end investors, Panther commissioned an independent report from Messari, a leading research and analysis platform. Published in late December, the report is a deep-dive into the technology, features, and functionality of the Panther platform, offering detailed insights into features like the UTXO model, zAssets, Zone Managers, and more. Messari reaches a subscriber base of over 350K and is distributed to over 740k users worldwide via Refinitiv, Bloomberg Terminal, AlphaSense and S&P Global Capital IQ. 

The Street

Panther entered into a partnership with the Street, a popular financial publication with extensive crypto coverage, reaching 35M+ investors monthly. This collaboration provides access to their extensive network of influential KOLs who reach nearly 10M followers per week, as well as to their advertising network. The Street’s audience aligns well with ongoing efforts to attract more prospective Zone Managers, partners and users. The partnership kicked off in December, with resulting coverage to begin in 2025.

Technical Progress

December was a productive month for Panther Protocol’s technical development, with efforts focused on refining V1 and preparing for future updates. Following the completion of external testing, the team worked on addressing issues identified during quality assurance and audits, ensuring a stable and reliable foundation for the platform.

Development on V1.1 progressed steadily while planning for future iterations, including V1.2 and V1.3, also began. 

Panther contributors continued refining technical requirements to support Zone Managers, whose role is integral to Panther’s compliance tools and confidentiality-enhancing framework. 

Additionally, progress was made toward the planning of the forthcoming Canary Network (to be owned and operated by the forthcoming Swiss-based Panther Protocol Foundation), which will enable controlled testing of real assets and exploration of innovative features to strengthen the protocol further. The new, Swiss-based foundation is expected to provide more details about the Canary Network, including how to participate, in the near future. 

Important announcements about Panther’s V1 technical development, with much of the work taking place in December, are also coming in early 2025, so stay tuned. 

Panther in the Media

In December, Panther actively engaged with the media to raise awareness.

Panther was interviewed by Web3 TV to discuss the importance of privacy in DeFi. Co-Founder Dr. Anish Mohammed highlighted how selective disclosures can empower users while supporting the broader adoption of crypto technologies. Panther was also a featured interview on Market Movers on Fintech.TV, where co-founder Oliver Gale shared insights into how PETs are critical for building trust and driving institutional participation in DeFi.

In addition to these appearances, Dr. Mohammed represented Panther as it was  featured in AI Business, examining the privacy risks that emerge as AI becomes more accessible. Panther was interviewed in December by outlets including Cointelegraph, Sky News Arabia, Bitcoin Magazine, and CNBC Arabia. These features, which are still to be published, are expected to provide additional visibility for Panther’s solutions and vision.

The recently released report by Messari, mentioned above, continues to draw attention. This independent analysis offers an in-depth look at Panther’s technology, including the UTXO model, zAssets, and Zone Managers, providing valuable insights for industry professionals, prospective Zone Managers, and partners.

Conclusion

Panther Protocol achieved significant milestones in December across multiple fronts, solidifying its position in the DeFi ecosystem. The launch of partnerships with prospective Zone Managers Eurobit and PureFi is an important step towards the protocol’s real-world application. With technical development progressing steadily, increased media coverage, and an independent Messari analysis being published, Panther continues to build momentum in its mission to bring compliant privacy solutions to DeFi.


Epicenter Podcast

RedStone: The Oracle Pioneering the Future of DeFi - Marcin Kaźmierczak

The DeFi landscape has significantly evolved since 2018 when Chainlink was launched. Recent developments such as L2 rollups, liquid staking, restaking and the rise of BTC DeFi have created huge demand for more customizable, modular oracles that would be able to provide accurate data for countless use cases, crosschain. RedStone set out to do exactly that and are now securing over $6.6 bn worth of

The DeFi landscape has significantly evolved since 2018 when Chainlink was launched. Recent developments such as L2 rollups, liquid staking, restaking and the rise of BTC DeFi have created huge demand for more customizable, modular oracles that would be able to provide accurate data for countless use cases, crosschain. RedStone set out to do exactly that and are now securing over $6.6 bn worth of assets (1000+ assets), across more than 60 chains, without a single mispricing event.

Topics covered in this episode:

Marcin’s background Early oracle landscape RedStone’s technical architecture Network incentives Data aggregation module Node operator module Push vs. Pull oracles RedStone’s business model The role of RedStone token Pyth vs. RedStone Restaking Oracle extractable value Synergies between oracles and institutional investors

Episode links:

Marcin Kazmierczak on X RedStone on X

Sponsors:

Gnosis: Gnosis builds decentralized infrastructure for the Ethereum ecosystem, since 2015. This year marks the launch of Gnosis Pay— the world's first Decentralized Payment Network. Get started today at - gnosis.io Chorus1: Chorus1 is one of the largest node operators worldwide, supporting more than 100,000 delegators, across 45 networks. The recently launched OPUS allows staking up to 8,000 ETH in a single transaction. Enjoy the highest yields and institutional grade security at - chorus.one

This episode is hosted by Brian Fabian Crain.


PIVX

What is PIVX SHIELD?

Chances are that you’ve seen or heard the word “SHIELD” countless times within the PIVX ecosystem. It is often touted as “the world’s first zk-SNARK-based privacy protocol on a Proof of Stake blockchain.” Without further ado, here’s all you need to know about PIVX’s custom adaptation of the popular zk-SNARK Sapling protocol — SHIELD. But first, a little clarification… Are Cryptocurrencies Privat

Chances are that you’ve seen or heard the word “SHIELD” countless times within the PIVX ecosystem. It is often touted as “the world’s first zk-SNARK-based privacy protocol on a Proof of Stake blockchain.” Without further ado, here’s all you need to know about PIVX’s custom adaptation of the popular zk-SNARK Sapling protocol — SHIELD.

But first, a little clarification…

Are Cryptocurrencies Private?

While you may have been led to believe that traditional cryptocurrency transactions are private, the reality is quite the opposite. Yes, they offer transparency and immutability but user privacy is generally left unprotected.

Blockchain transactions on networks like Bitcoin and Ethereum are recorded on a public ledger, revealing the sender and receiver addresses, transaction amounts, and timestamps. They are pseudo-anonymous, not private.

This lack of privacy can expose individuals to potential risks such as surveillance and tracking from government agencies and malicious actors, as well as targeted attacks. For instance, a popular Pakistani crypto trader was recently kidnapped by a five-man gang and forced to transfer $340,000.

So, you could try to obfuscate a transaction by shuffling the funds through multiple addresses but at the end of the funds can still be traced from one person to another.

What is zk-SNARK?

Short for Zero-Knowledge Succinct Non-Interactive Argument of Knowledge, zk-SNARK is a powerful cryptographic technique that allows one party (the prover) to prove to another party (the verifier) that a certain statement is true, without revealing any information beyond the truth of the statement itself.

Although real zk-SNARK use advanced math and are much more complex., here’s an example to simplify how it works. Imagine you have a secret code to open a locked door and you want to prove to someone that you know the code without actually telling them what it is.

Traditionally, you could open the door in front of them, showing you know the code. But then they know the code too. However, using zk-SNARK, you could use a special trick that allows you to prove you know the code without revealing it. One option could be showing them a hidden switch that only someone with the code can find. Alternatively, you could use a special key that only works with the correct code, without showing them the code itself. In summary, zk-SNARK lets you prove you know something secret without giving away the secret.

PIVX SHIELD

SHIELD is a custom implementation of zk-SNARK. Custom in the sense that PIVX was the first proof-of-stake blockchain to adopt the protocol. Over the years, PIVX has transitioned from coin-join to Zerocoin protocol in 2018, and finally SHIELD in late 2020.

One of the keywords in zk-SNARK is “zero-knowledge,” meaning there is no data to decrypt in the first place. Put differently, SHIELD does not involve encrypted information that could one day be decrypted to reveal the identities of the sender or recipient.

When a user initiates a shielded transaction, their PIVX coins are converted into “shielded” coins. These shielded coins are represented by cryptographic proofs that verify their existence and ownership without revealing any underlying information.

The recipient of the shielded transaction can then “unshield” the coins, converting them back into transparent coins or spend them on PIVX-native platforms like PIVCards.

SHIELD transactions enhance privacy by concealing the sender, recipient, and transaction amount. These transactions are processed efficiently, minimizing delays and ensuring a smooth user experience. Notably, SHIELD utilizes lightweight proofs, occupying only 144 bytes, which can be generated quickly even on devices with limited processing power, such as a Raspberry Pi.

PIVX. Your Rights. Your Privacy. Your Choice.
To stay on top of PIVX news please visit PIVX.org and Discord.PIVX.org.

What is PIVX SHIELD? was originally published in PIVX on Medium, where people are continuing the conversation by highlighting and responding to this story.

Tuesday, 07. January 2025

bankless

Backpack Exchange Acquires FTX EU

Former FTX and Alameda employees buy back the EU arm of the defunct exchange.
Former FTX and Alameda employees buy back the EU arm of the defunct exchange.

5 Free Tools for Finding Fresh AI Agent Tokens

There are other places to track down AI agents than Twitter.
There are other places to track down AI agents than Twitter.

Panther Protocol

2024 in Review

2024 in Review 2024 has been a transformative year for Panther, as its contributors worked to bring its vision of confidential DeFi transactions to life. Panther has achieved key milestones through a structured, multi-stage testnet program, engaging over 3,500 testers to refine its features and ensure seamless functionality for
2024 in Review

2024 has been a transformative year for Panther, as its contributors worked to bring its vision of confidential DeFi transactions to life. Panther has achieved key milestones through a structured, multi-stage testnet program, engaging over 3,500 testers to refine its features and ensure seamless functionality for users and Zone Managers

In addition to completing the external testnet, 2024 also saw significant ecosystem growth, including partnerships that announced candidates to become the platform’s first Zone Managers. 2024 also saw a marked increase in media coverage for Panther across multiple platforms including key industry publications, major podcasts and more. 

This blog highlights Panther's key milestones and achievements in 2024.

Technical Progress: Testnet Updates by Stage

In 2024, Panther Protocol contributors worked to complete the features required for V1 of the protocol, with community involvement playing a critical role in refining these features. Over 3,500 testers participated in shaping the protocol, providing essential feedback throughout the process. We want to express our sincere gratitude to our test community.

The V1 of Panther Protocol will introduce robust capabilities for both users and Zone Managers that were featured in the testnet program, which included Panther’s Shielded Pool, zAssets, confidentiality-enhanced transfers, gasless transactions (where applicable), options to choose between faster or more cost-efficient transaction processing and  privacy-enhanced DeFi zSwaps on platforms like Uniswap and QuickSwap; as well as Zone Manager features like advanced Anti-Money Laundering (AML) tools, inclusive of KYC/KYB/KYT and mechanisms to disclose information as needed (for compliance).

A recap of 2024's testnet stages and their major feature updates follow: 

Testnet Update Highlights

Swap Functionality, Stage 7

Stage 3: Introducing zAssets

Stage 3 marked a critical milestone with the introduction of zAssets within Panther’s Shielded Pool. This feature allowed testers to deposit test assets and receive test zAssets that can be tested within the Shielded Pool. Enhanced circuit security was also implemented, focusing on KYC/KYT mechanisms to ensure safer and more reliable interactions. The user interface received significant updates to improve accessibility and ease of use, making the protocol more intuitive for testers.

Stage 4: Enabling Transfers and Withdrawals

In Stage 4, testers gained the ability to test confidentiality-enhanced transfers within the Shielded Pool and test withdrawing assets securely to external wallets. Additional features in this stage included the integration of KYT verification, which, when live, can be used to help Zone Managers to ensure regulatory alignment. This stage provided a major step toward seamless user transactions within Panther’s ecosystem.

Stage 5: Introducing Gasless Transactions

Stage 5 introduced gasless transactions by integrating third-party bundler services to the testnet. Once the protocol is live, this will allow users to execute transactions without requiring native gas fees, where applicable. In Stage 5 of the testnet, the “Taxi” mode for UTXO processing was also unveiled, which will enable users to choose between faster transaction speeds or cost-efficiency, depending on their priorities.

Stage 6: Introduction of Fees and AMM Refilling

Stage 6 introduced fee collection mechanisms, critical to the platform's long-term ability to support its success and to maintain the platform. This included simulated protocol fees being deposited into the protocol’s AMM. It also included the addition of capabilities that would allow fee subsidization if desired.

Stage 7: Privacy-Enhanced DeFi Swaps

Stage 7 brought confidentiality-preserved DeFi zSwap capabilities through integrations with DeFi platforms such as Uniswap and QuickSwap. This feature enabled testers to conduct simulated privacy-enhanced swaps from within the Shielded Pool. This stage also saw the addition of Data Escrow, a critical function of the protocol for both privacy-preservation and proof of facts critical for compliance.

Stage 8: Scalability with Diamond Proxy Architecture

In Stage 8, Panther implemented Diamond Proxy architecture to overcome Ethereum’s size limitations. This innovation allows for more scalable smart contracts, which are crucial for the long-term viability of the platform. Blacklisting capabilities were also introduced that will help Zone Managers restrict access for bad actors and others who are not wanted on the platform. Transaction management also saw significant improvements in consolidating deposits into single UTXOs, boosting performance and usability.

Stage 9: Final Testnet Stage and Canary Network Preparations

The completion of external testing for Stage 9 marked the culmination of Panther’s testnet.  This stage set the groundwork for the upcoming Panther Protocol Foundation (PPF) Canary Network, which will serve as a critical proving ground for real-world applications of Panther’s privacy-enhancing and compliance-driven solutions. Stay tuned for more information about Panther’s Canary network in the weeks ahead. 

Disclaimer

For the avoidance of doubt any tokens mentioned in this announcement or within the product are for testing purposes only and have no economic value, nor can they be exchanged for value. 

Participation in our incentivized testnet versions may result in you earning rewards, but such credits are not represented on any blockchain as tokens.

Key Partnerships and Ecosystem Growth

In 2024, Panther's ecosystem established multiple strategic partnerships aligned with organizations that share its mission of providing users with confidential DeFi transactions. These agreements focused on teaming up with organizations that will play important roles in the Panther ecosystem, including prospective Zone Managers; as well as organizations with a shared vision for DeFi privacy who will help in raising awareness for the Panther platform among prospective Zone Managers and the broader DeFi community alike.

Eurobit

In December, PPF partnered with Eurobit, a Spanish cryptocurrency exchange and licensed Virtual Assets Service Provider (VASP), to establish a dedicated Eurobit Zone within Panther’s Shielded Pool. Under the agreement, Eurobit will apply to become a Zone Manager, allowing it to provide its users with privacy-preserving transactions. Eurobit would be responsible for end-to-end compliance within its dedicated Zone. 

PureFi Integration

Similarly, PPF entered a separate agreement with PureFi, a provider of AML services. PureFi is already an official KYC/KYT solutions partner for Panther. This new partnership is in addition to the original agreement. Under the terms of the new partnership, PureFi will apply to operate its own Zone. This integration seeks to combine the full breadth of Panther’s privacy-enhancing technology with PureFi’s expertise and already-integrated compliance tools, creating a smooth and seamless user experience.

Messari Sponsorship

Messari, one of the biggest brands in research and analysis, was commissioned to write an independent in-depth report as part of overarching efforts to raise awareness of Panther’s platform among relevant audiences. It was published in late 2024, containing a comprehensive overview on Panther Protocol. Messari research reaches 350K subscribers, as well as an additional 740K users via Bloomberg Terminal, Refinitiv, S&P Global Capital IQ and AlphaSense.

Luna PR

Panther engaged Luna PR as its public relations agency to amplify Panther’s visibility and reputation among financial service providers, developers, and the broader DeFi community. This has led to an increase in news, broadcast, and podcast coverage about Panther, privacy-enhancing technology, and the need for confidentiality in DeFi more generally. 

Rivo.XYZ 

Panther also partnered with Rivo.XYZ, a one-click investment platform targeting the crypto yield industry. This collaboration has focused on fostering cross-community initiatives between the two organizations, driving innovation in privacy-preserving investments.

ZuVillage Georgia

Panther expanded its presence in Eastern Europe through its partnership with ZuVillage, a digital community of truth seekers, builders, and sovereign individuals guided by cypherpunk and d/acc philosophies.

The Street

Panther entered into a partnership with The Street, kicking off in late 2024. The Street is a popular financial publication that reaches 35+ Million investors, monthly, with a robust Key Opinion Leader (KOL) that reaches nearly 10M as well as a strong advertising network. This partnership aims to provide an additional platform for relevant audiences to learn about Panther and its mission, ensuring that the protocol reaches prospective users and Zone Managers effectively.

Swiss Entity

In October, Panther’s co-founders announced the start of work to establish a new Swiss-based entity. This move aims to transition operations from the current Gibraltar-based Panther Protocol Foundation to better align with Panther’s long-term vision. Switzerland’s well-regarded regulatory environment was selected to support the growth of Panther’s privacy-enhancing and compliance-focused DeFi ecosystem. Further updates are expected in early 2025.

Ecosystem Engagement, Community Involvement, and Media Presence

In 2024, Panther Protocol solidified its presence in the DeFi ecosystem through strategic engagement with its community, industry events, and media features showcasing its mission and technological innovations. Panther contributors actively engaged the community through AMAs, social media updates, and comprehensive communication on the protocol's milestones. 

Panther’s co-founders, leadership team and technical contributors also represented the protocol at key global events. This included participation at DevCon and side events, where they delivered talks and participated in round-table discussions on privacy-enhancing technology (PET) and compliance, the practical applications of zero-knowledge technology and its role in scaling privacy-preserving solutions, different models of privacy in DeFi, the role of analytics, and key considerations for AML. These contributors also spoke about Panther and related topics at Token 2049, EthDenver, EthDam, NFT NYC, Web3 Dubai, Web3 Global, at their side events and more. These events provided opportunities to lead thought by sharing Panther’s approach to privacy in the context of the evolving DeFi landscape to relevant audiences. 

Panther’s thought leadership extended into major podcasts and broadcast platforms, engaging with diverse audiences to expand awareness of the protocol’s mission. Notable appearances included Nowmedia, Proof of Podcast, Liquidity Lounge, Cryptopolitan, Infinite Crypto, and Web3 with Sam Kamani.

Media coverage increased through the end of 2024, with featured articles and appearances in crypto, tech and financial news outlets such as Bitcoin World, NASDAQ Trade Talks, Metaverse Post, AI Business, Web3 TV, Blockchain Reporter and more, with yet-to-be published interviews having taken place in December 2024 with Sky News and CNBC Arabia

This combined focus on community engagement, event participation and media appearances has bolstered Panther’s visibility among prospective users, partners and Zone Managers. 

Conclusion

Panther advanced confidential DeFi infrastructure through technical development, strategic partnerships, and ecosystem growth. These achievements position Panther to transform confidentiality in DeFi.

With a robust architecture and growing ecosystem, Panther is positioned to be the platform for building secure, private, and scalable financial solutions. By leveraging its infrastructure, the future of DeFi can be one where privacy, security, and compliance harmonize to create meaningful opportunities for all stakeholders.


Greylock Partners

How Upwind Is Taking on Cybersecurity Giants

The post How Upwind Is Taking on Cybersecurity Giants appeared first on Greylock.

bankless

Reddit Collectibles Community Fears the Worst

With the departure of its sole community lead, Reddit's NFT community worries about a shutdown.
With the departure of its sole community lead, Reddit's NFT community worries about a shutdown.

CFTC Chair to Step Down As Trump Takes Office

Who will replace CFTC Chair Rostin Behnam?
Who will replace CFTC Chair Rostin Behnam?

PIVX

PIVX Soars into 2025 with Poloniex Listing and XT.com Leverage Boost

PIVX is off to a stellar start in 2025. The leading privacy-focused cryptocurrency marked January 6th with a double dose of good news: a much-anticipated listing on Poloniex, and the launch of 20x leverage trading on the global platform XT.com. This one-two punch is a significant boost for PIVX. The Poloniex listing broadens the project’s reach to a wider audience of traders, while the intro

PIVX is off to a stellar start in 2025. The leading privacy-focused cryptocurrency marked January 6th with a double dose of good news: a much-anticipated listing on Poloniex, and the launch of 20x leverage trading on the global platform XT.com.

This one-two punch is a significant boost for PIVX. The Poloniex listing broadens the project’s reach to a wider audience of traders, while the introduction of 20x leverage trading on XT.com caters to those seeking amplified returns (and risks).

Trading Begins on Poloniex

While the Poloniex listing was officially announced in December, full trading functionality, including deposits, withdrawals, and trading, was not immediately enabled. Following weeks of backend integration and testing, the exchange is now fully operational for PIVX.

To celebrate this milestone, Poloniex has launched a 10-day airdrop campaign from January 6th to 16th. During this period, users who actively participate in spot trading of designated tokens and meet the minimum trading volume threshold will share a $6,000 PIVX airdrop reward.

The rewards will be distributed based on trading volume, with the top three traders receiving $300, $200, and $100 in PIVX, respectively. The remaining $5,400 in PIVX will be evenly distributed among other qualified participants.

As of press time, the 24-hour trading volume on the PIVX/USDT trading pairs was already over $100k.

XT.com Enables 20x Leverage Trading for PIVX

Adding fuel to the PIVX fire, XT.com, a global cryptocurrency exchange, has introduced 20x perpetual futures for PIVX. This move caters to traders seeking amplified returns (and risks) and signifies XT.com’s confidence in the future of PIVX.

Interestingly, the platform quickly rose to become the largest perpetual market for PIVX just a few hours after launch.

With its focus on privacy and security, PIVX is well-positioned to capitalize on the growing demand for these features in the cryptocurrency space. The Poloniex listing and the introduction of 20x leverage trading on XT.com are significant milestones for PIVX, paving the way for wider adoption and potentially even greater trading activity in the future.

PIVX. Your Rights. Your Privacy. Your Choice.
To stay on top of PIVX news please visit PIVX.org and Discord.PIVX.org.

PIVX Soars into 2025 with Poloniex Listing and XT.com Leverage Boost was originally published in PIVX on Medium, where people are continuing the conversation by highlighting and responding to this story.

Monday, 06. January 2025

bankless

Winklevoss Twins Settle With CFTC

The crypto exchange agrees to $5 million fine, injunction over CFTC charges.
The crypto exchange agrees to $5 million fine, injunction over CFTC charges.

Justin Trudeau Resigns, Pro-Crypto Successor Expected

Canada’s Prime Minister steps aside, crypto rejoices.
Canada’s Prime Minister steps aside, crypto rejoices.

MicroStrategy Adds to Bitcoin Reserves in New Weekly Buy

MicroStrategy adds 1,070 bitcoin to its reserves for $101 million.
MicroStrategy adds 1,070 bitcoin to its reserves for $101 million.

The Top Airdrop Hunts of the Month: January 2025

Which protocols could help you start 2025 off with a bag of airdropped tokens?
Which protocols could help you start 2025 off with a bag of airdropped tokens?

Eliza Daydreams: A New Blueprint for Onchain Gaming Agents

ai16z's Eliza agents are coming to onchain games in a big way thanks to the new Daydreams innovation.
ai16z's Eliza agents are coming to onchain games in a big way thanks to the new Daydreams innovation.

Saturday, 04. January 2025

Zcash

ECC Transparency Report for Q2 2024

Why release a transparency report? ECC is committed to openness and transparency — as we help evolve and support the Zcash digital currency, and in support of our mission to […] Source
Why release a transparency report? ECC is committed to openness and transparency — as we help evolve and support the Zcash digital currency, and in support of our mission to […]

Source

Friday, 03. January 2025

bankless

No (New) Taxes in 2025

Weekly Recap: Do Kwon pleads not guilty, Ethena outlines 2025 plans.
Weekly Recap: Do Kwon pleads not guilty, Ethena outlines 2025 plans.

Why Top AI Agent Tokens Are Pumping

Virtuals, ai16z, VaderAI & other agents had a busy holidays.
Virtuals, ai16z, VaderAI & other agents had a busy holidays.

PIVX

The Ethical Responsibility of Voting in PIVX

The Ethical Responsibility of Voting in PIVX Decentralized Autonomous Organizations are generally lauded for empowering their communities through on-chain governance. Coin holders, delegates, or masternode owners (as in the case of PIVX) wield considerable influence by voting on proposals that shape the future of the project. However, this power comes with a significant ethical responsibilit

The Ethical Responsibility of Voting in PIVX

Decentralized Autonomous Organizations are generally lauded for empowering their communities through on-chain governance. Coin holders, delegates, or masternode owners (as in the case of PIVX) wield considerable influence by voting on proposals that shape the future of the project. However, this power comes with a significant ethical responsibility.

But which do you think should come first — personal interest or community interest? You are in for an interesting read on your ethical responsibility as a voter within the PIVX ecosystem.

What is Ethical Responsibility?

Ethical responsibility can be defined as the commitment to act with integrity, fairness, and a focus on the collective good. Put differently, it means prioritizing the long-term sustainability and success of the PIVX ecosystem over individual interests. Each vote cast has the potential to impact the entire community, and therefore, decisions should be made with careful consideration of their broader implications.

Focusing solely on immediate gains or personal preferences can lead to short-sighted decisions that may ultimately harm the project in the long run. For example, voting to increase the masternode reward to 10 PIV per block (from a current 6 PIV) may seem nice to masternode owners but it would be detrimental to stakers and the coin’s inflation. Ethical voting prioritizes the needs and interests of the entire PIVX community.

Decisions should be made with the goal of fostering an inclusive ecosystem that benefits all stakeholders, from long-term investors to new users.

Personal Bias in Decision Making

Let’s be honest with ourselves — many of us are here for the gains, not the tech. That said, no one would gladly embrace a decision or proposal that deprives them of certain privileges. Human nature often leads to biases in decision-making.

This could manifest in the form of favouritism and resentment within decentralized communities, where voting becomes based on personal feelings towards the proposal’s author. There is also the “Us vs. Them” mentality, typically leading to the formation of factions within the community. In both cases, individuals will favour proposals from their friends and factors, while kicking against ideas from those they’ve had disagreements with. This is unethical and detrimental to the DAO’s objective decision-making process.

Case Study

I still remember the Humpy vs. Balancer drama of 2022 like it was yesterday. The crypto whale subtly amassed a substantial amount of BAL tokens. This granted them significant voting power which they used to boost the BAL APR for the specific pools they were yield farming.

In one instance, Humpy gamed the system to direct $1.8 million of cumulative BAL emissions to themselves within six weeks. Ironically, Balancer DAO received a meager $17,000 as protocol revenue from the pool. Humpy used their influence to push for governance proposals that prioritized their own short-term gains over the long-term health of the Balancer ecosystem.

In reality, this is not an isolated case. While it may be impossible to remove bias and human interests from DAOs completely, voters must learn to strike a healthy balance.

Bottomline

Maintaining fairness and transparency in voting is crucial for preserving the friendly and inclusive nature of the PIVX community. When voting decisions are driven by ethical considerations and a commitment to the greater good, it fosters trust and respect among community members.

By engaging with proposals from a place of respect, free from personal grudges or preferences, masternode owners can ensure that the PIVX DAO operates in a fair and equitable manner. This, in turn, strengthens the community, encourages healthy debate, and ultimately leads to better decision-making outcomes for the entire PIVX ecosystem.

PIVX. Your Rights. Your Privacy. Your Choice.
To stay on top of PIVX news please visit PIVX.org and Discord.PIVX.org.

The Ethical Responsibility of Voting in PIVX was originally published in PIVX on Medium, where people are continuing the conversation by highlighting and responding to this story.


a16z Podcast

Crypto Trends for 2025: Stablecoins, App Stores, UX, and More

with @sambroner @meigga @darenmatsuoka @jneu_net @chrislyons and @rhhackett @smc90 Welcome to our special end-of-year episodes -- which also look ahead to 2025 --  covering our annual Big Ideas lists, where various a16z crypto team members share what they are personally excited about. (You can see the firmwide list, also including all the trends of the crypto team,  here.) This episode

with @sambroner @meigga @darenmatsuoka @jneu_net @chrislyons and @rhhackett @smc90

Welcome to our special end-of-year episodes -- which also look ahead to 2025 --  covering our annual Big Ideas lists, where various a16z crypto team members share what they are personally excited about. (You can see the firmwide list, also including all the trends of the crypto team,  here.)

This episode is part 1 of 2 -- but you don't have to listen to them in any particular order -- covering the trends and themes of:

stablecoins, payments, and where the early adopters will come from; app store distribution, curation, and discovery; where the next crypto users will come from, turning passive holders into active users; how builders improve, and better choose, infrastructure; and simplifying user experience.

 Covering each of these -- and coming from the investing, go-to-market, data science, research, and media teams are:  Sam Broner, Maggie Hsu, Daren Matsuoka, Joachim Neu, and Chris Lyons; in conversation with hosts Sonal Chokshi and Robert Hackett. (Stay tuned until the end for some of our meta-commentary.) 

These are just 5 of the 14 trends we shared; you can check out the full list at a16zcrypto.com/bigideas.

Also be sure to check out part 2, which covers all the trends at the intersection of crypto and AI. 

As a reminder, none of the content is investment, business, legal, or tax advice; please see a16z.com/disclosures for more important information -- including a link to a list of our investments.

Thursday, 02. January 2025

bankless

IRS Postpones Crypto Cost-Basis Reporting Rules

Centralized exchanges have more time to adapt to new tax reporting requirements.
Centralized exchanges have more time to adapt to new tax reporting requirements.

Tether Faces Market Cap Drop Amid MiCA Hurdles

EU exchange delistings took a bite out of USDT's market cap, but the majority of volumes still come from Asia.
EU exchange delistings took a bite out of USDT's market cap, but the majority of volumes still come from Asia.

Do Kwon Pleads Not Guilty to Fraud Charges in Manhattan

The Terraform Labs founder was extradited from Montenegro earlier this week.
The Terraform Labs founder was extradited from Montenegro earlier this week.

Wednesday, 01. January 2025

bankless

Ethereum Upgrades to Watch in 2025

EIPs and ERCs that are set to push Ethereum forward.
EIPs and ERCs that are set to push Ethereum forward.

Epicenter Podcast

Privado ID & Quark ID: On-Chain ZK-Powered Unified ID - Diego Fernandez & Evin McMullen

Traditional KYC and AML regulations have often forced companies to comply, without having the right tools to do so. Simply storing users’ personal information led to the creation of security honeypots which haven’t gone unnoticed by hackers. Web3 solutions like Privado ID aim to cryptographically prove certain traits from a user’s personal data, without disclosing it to the enquirer. This is usual

Traditional KYC and AML regulations have often forced companies to comply, without having the right tools to do so. Simply storing users’ personal information led to the creation of security honeypots which haven’t gone unnoticed by hackers. Web3 solutions like Privado ID aim to cryptographically prove certain traits from a user’s personal data, without disclosing it to the enquirer. This is usually made possible through zero knowledge proofs which allow users to store their personal data on their own device and only exchange verifiable credentials with trusted issuers. City of Buenos Aires has adopted a similar implementation through their Quark ID system, a digital trust framework that creates a new digital identity system, giving people control over their information.

Topics covered in this episode:

Evin’s background and founding Disco Polygon ID acquisition and blockchain agnostic decentralized IDs Diego’s background, from private to public practice Privado ID and its registry of reputation issuers Use cases, DevEx and UX KYC and regulations Buenos Aires digital ID system Real world applications of Quark ID UX frictions and solutions ZK verification Societal impact and adoption Ethical considerations around DIDs The role of blockchains in other real world applications

Episode links:

Evin McMullen on X Diego Fernandez on X Privado ID on X Quark ID on X

Sponsors:

Gnosis: Gnosis builds decentralized infrastructure for the Ethereum ecosystem, since 2015. This year marks the launch of Gnosis Pay— the world's first Decentralized Payment Network. Get started today at - gnosis.io Chorus1: Chorus1 is one of the largest node operators worldwide, supporting more than 100,000 delegators, across 45 networks. The recently launched OPUS allows staking up to 8,000 ETH in a single transaction. Enjoy the highest yields and institutional grade security at - chorus.one

This episode is hosted by Friederike Ernst.


Zcash Foundation

Results of the ZCG Election

The ZCAP poll to elect three members of the Zcash Community Grants committee closed early this morning, and the results are in. Jason McGee is therefore re-elected to the committee, and will be joined by new members Zerodartz and Artkor. Congratulations to them all! Thank you to all the candidates who ran for election. Thank […]

The ZCAP poll to elect three members of the Zcash Community Grants committee closed early this morning, and the results are in.

Jason McGee: 100 votes Zerodartz: 86 votes Artkor: 68 votes Ambimorph: 62 votes Tokidoki: 61 votes Chidi: 35 votes Kworks: 29 votes

Jason McGee is therefore re-elected to the committee, and will be joined by new members Zerodartz and Artkor. Congratulations to them all!

Thank you to all the candidates who ran for election. Thank you also to Ambimorph and Michael “Brunchtime” Harms (who decided not to run for re-election) for their service as members of the ZCG Committee.

On the question of ZCG Committee member compensation, the results are as follows:

$1,725 per month + 10 ZEC per month – 64 votes 20 ZEC per month with a USD cap of $2,000 – 45 votes $1,725 per month (status quo) – 44 votes $2,275 per month – 21 votes $1,775 per month – 20 votes

As a result, the ZCG Committee member stipend will increase to $1,725 USD per month plus 10 ZEC per month.

Tuesday, 31. December 2024

bankless

The Best of Bankless 2024

Our top podcasts and articles of the year brought the heat.
Our top podcasts and articles of the year brought the heat.

PIVX

Year in Review: Top PIVX Moments

2024 proved to be a year of remarkable growth and innovation for PIVX. Building upon a foundation of strong community support and consistent development, PIVX expanded its reach, enhanced user experience, and solidified its position as a leader in the privacy-focused cryptocurrency space. Major Highlights in a Jiffy Celebrated 8 Years: PIVX marked its 8th anniversary, showcasing a strong a

2024 proved to be a year of remarkable growth and innovation for PIVX. Building upon a foundation of strong community support and consistent development, PIVX expanded its reach, enhanced user experience, and solidified its position as a leader in the privacy-focused cryptocurrency space.

Major Highlights in a Jiffy Celebrated 8 Years: PIVX marked its 8th anniversary, showcasing a strong and enduring community. Expanded Reach: Secured numerous exchange listings, including Poloniex and Gate.io (with the first-ever Turkish Lira trading pair). Core Wallet Upgrade: The PIVX Core wallet was updated to v5.6.1, introducing lock shield notes and improved GUI, among others. Masternode Growth: Network strength surged with nearly 300 new masternodes joining, reaching a total of 1985 by year’s end. Privacy Enhanced: PIVCards became fully shielded, offering enhanced privacy for users. Innovation Unleashed: Introduced PIVX Rewards and Labs Oracle, expanding the PIVX ecosystem. Wallet Revamp: My PIVX Wallet (MPW)v2.1 delivered 30x faster Shield synchronization, full shield activity support, and a refined user interface. Now the Year in Detail Q1: Setting the Stage for a Successful Year

The year commenced with a flurry of activity. PIVX secured listings on exchanges like ChangeNOW, Gate.io (complete with the first-ever Turkish Lira trading pair), StealthEX, and Atani Exchange, significantly increasing its accessibility for global users. These early listings laid the groundwork for a year of significant expansion.

To further engage with the broader community, PIVX hosted an AMA (Ask Me Anything) session with a host from GameStation and Hans Koning, a retired DAO (Decentralized Autonomous Organization) specialist. This interactive session provided valuable insights into PIVX and fostered connections within the cryptocurrency space.

Another important milestone was the first anniversary of the Privacy Roundtable. While not directly related to PIVX development, this group plays a crucial role in advocating for user privacy and fostering dialogue on privacy-focused solutions in the blockchain world.

Other noteworthy milestones in the quarter include PIVX becoming a collateral option on Coin Rabbit and the launch of PIVX Rewards, a faucet platform for earning PIV. Meanwhile, in February, the Core Wallet v5.6.1 update introduced upgraded GUI features, the ability to generate proposal addresses directly when creating proposals, CoinControl for selecting inputs for master nodes, and the option to lock shield notes.

Q2: Enhancing User Experience and Privacy

PIVX prioritized user experience throughout the second quarter. PIVCards, the platform for purchasing gift cards with PIVX, received a significant speed boost, enabling users to spend their coins effortlessly. My PIVX Wallet underwent a series of major upgrades, including the introduction of a decentralized Light SHIELD Protocol, enhanced compatibility, and a user-friendly interface.

A pivotal moment arrived with the successful integration of SHIELD into PIVCards. This milestone, coupled with the ongoing development and refinement of SHIELD technology, solidified PIVX’s commitment to user privacy and security.

There were also a few listings in Q2. PIVX became an automated markets maker (AMM) on CoinEx in April, Armour Solutions began accepting PIV for masternode hosting in May, and two exchanges (Bitcointry and SimpleSwap) listed PIVX in June.

Q3: Expanding Global Reach and Technological Advancements

The third quarter witnessed a significant expansion of PIVX’s global reach. The project secured listings on numerous exchanges, including MEXC, KoinBX, Swapter, Bitstorage, XeggeX, BitMart, Changelly, Hellex, and NOW Wallet. These listings not only increased accessibility but also provided users with greater flexibility in trading and interacting with PIVX.

Innovation continued to drive progress. PIVCards became fully SHIELDED in July. The introduction of PIVX Labs Oracle, a dedicated price tracker app, provided valuable market insights to the community in September. In the same month, the PIVX Toolbox received its third iteration. Some notable changes were improved UI/UX, PIVX address detection, and exchange addresses support.

Q4: A Quarter of Significant Milestones

The final quarter of 2024 was marked by several significant milestones.

Futures Trading on WEEX: PIVX entered the futures market with its listing on WEEX, providing traders with new opportunities and risk management tools. First Indonesian Exchange Listing: Triv became the first Indonesian exchange to list PIVX. Poloniex Listing: The highly anticipated listing on Poloniex, a renowned cryptocurrency exchange, will significantly enhance PIVX’s visibility and credibility within the crypto community in the beginning of January. (The listing was previously announced, but trading will resume in January.)
My PIVX Wallet v2.1: This major release brought a 30x faster Shield synchronization, full Shield Activity support, and a redesigned user interface, significantly enhancing the user experience. It also featured lightning-fast sync. The median shield sync time reportedly dropped from 10 to 15 minutes to less than a minute.

PIVX. Your Rights. Your Privacy. Your Choice.
To stay on top of PIVX news please visit PIVX.org and Discord.PIVX.org.

Year in Review: Top PIVX Moments was originally published in PIVX on Medium, where people are continuing the conversation by highlighting and responding to this story.

Monday, 30. December 2024

bankless

Crypto's Wildest Airdrops of 2024

Five airdrops that enriched and fascinated the crypto market.
Five airdrops that enriched and fascinated the crypto market.

5 NFT Predictions for 2025

The big milestones ahead for the NFT space.
The big milestones ahead for the NFT space.

a16z Podcast

Super Staffing Healthcare, Codifying Compliance, & Scaling Services

As we prepare to step into 2025, the possibilities for applied AI are reshaping industries in profound ways.  In this episode, a16z General Partners Julie Yoo and Angela Strange, and Partner Joe Schmidt, dive into the transformative power of AI across healthcare, fintech, and traditional service sectors. We explore: Super Staffing for Healthcare: How AI can address critical clinical labor

As we prepare to step into 2025, the possibilities for applied AI are reshaping industries in profound ways.

 In this episode, a16z General Partners Julie Yoo and Angela Strange, and Partner Joe Schmidt, dive into the transformative power of AI across healthcare, fintech, and traditional service sectors.

We explore:

Super Staffing for Healthcare: How AI can address critical clinical labor shortages and augment care delivery at scale. Regulation Becomes Code: The potential for AI to simplify and streamline compliance, making systems safer and more efficient. Romanticizing Inorganic Growth: The opportunity for AI-powered startups to redefine service industries through workflow automation and strategic acquisition.

With insights from a16z’s Bio + Health, Fintech, and Apps teams, this episode unpacks the ideas that will revolutionize traditional systems and unlock opportunities in 2025.

Check out the full 50 Big Ideas for 2025 at a16z.com/bigideas.

 

Resources: 

Find Angela on X: https://x.com/astrange

Find Julie on X: https://x.com/julesyoo

Find Joe on X: https://x.com/joeschmidtiv

Link to article 'The Messy Inbox Problem: Wedge Strategies in AI Apps': https://a16z.com/the-messy-inbox-problem-ai-apps-wedge-strategies

 

Stay Updated: 

Let us know what you think: https://ratethispodcast.com/a16z

Find a16z on Twitter: https://twitter.com/a16z

Find a16z on LinkedIn: https://www.linkedin.com/company/a16z

Subscribe on your favorite podcast app: https://a16z.simplecast.com/

Follow our host: https://twitter.com/stephsmithio

Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

Friday, 27. December 2024

bankless

How ETH and SOL Pushed Crypto Forward in 2024

Ethereum and Solana's communities blazed new trails for the crypto industry this year.
Ethereum and Solana's communities blazed new trails for the crypto industry this year.

Thursday, 26. December 2024

bankless

The Year Ethena Took Over

Ethena dominated DeFi in 2024; how did they do it?
Ethena dominated DeFi in 2024; how did they do it?

Wednesday, 25. December 2024

a16z Podcast

The Race for AI—Search, National Infrastructure, & On-Device AI

The AI race is on, and 2025 could be its most transformative year yet. In this episode, a16z General Partners Anjney Midha and Jennifer Li, and Partner Alex Immerman dive into the trends reshaping AI and its impact on search, infrastructure, and devices. We explore: How AI-native tools like ChatGPT and Perplexity are challenging Google’s search dominance. The rise of infrastructure independen

The AI race is on, and 2025 could be its most transformative year yet.

In this episode, a16z General Partners Anjney Midha and Jennifer Li, and Partner Alex Immerman dive into the trends reshaping AI and its impact on search, infrastructure, and devices.

We explore:

How AI-native tools like ChatGPT and Perplexity are challenging Google’s search dominance. The rise of infrastructure independence as governments prioritize compute, energy, and data. The future of smaller, on-device AI models driving privacy, performance, and new consumer applications.

With insights from a16z’s Growth and Infrastructure teams, this episode unpacks the forces driving AI innovation—and the opportunities founders and nations could seize to lead in the next wave of technology.

Stay tuned for more in this four-part series, and explore the full 50 Big Ideas for 2025 at a16z.com/bigideas.

Resources: 

Find Alex on X: https://x.com/aleximm

FInd Anjney on X: https://x.com/AnjneyMidha

FInd Jennifer on X: https://x.com/JenniferHli

Stay Updated: 

Let us know what you think: https://ratethispodcast.com/a16z

Find a16z on Twitter: https://twitter.com/a16z

Find a16z on LinkedIn: https://www.linkedin.com/company/a16z

Subscribe on your favorite podcast app: https://a16z.simplecast.com/

Follow our host: https://twitter.com/stephsmithio

Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

Tuesday, 24. December 2024

Epicenter Podcast

Abundance: The First 1 Gigagas/second Stack for Sovereign Rollups - Hilmar Orth

One of the most limited blockchain resources is blockspace. From Bitcoin’s Blocksize Wars to Ethereum’s scaling roadmap, a common denominator seems to have emerged in the form of rollups. Advancements in zero knowledge proofs have enabled trustless bridges, which are a cornerstone to onboarding liquidity to any blockchain. Furthermore, Celestia’s modular approach to blockchain architecture and the

One of the most limited blockchain resources is blockspace. From Bitcoin’s Blocksize Wars to Ethereum’s scaling roadmap, a common denominator seems to have emerged in the form of rollups. Advancements in zero knowledge proofs have enabled trustless bridges, which are a cornerstone to onboarding liquidity to any blockchain. Furthermore, Celestia’s modular approach to blockchain architecture and their recent commitment to gigabyte blocks of data availability marked the beginning of commoditization for rollups. Abundance is the first rollup-as-a-service platform that is able to scale to 1 gigagas/second throughput, finally bringing off-chain applications, on-chain.

Topics covered in this episode:

Gelato’s pivot to rollup-as-a-service platform Sovereign rollups Enshrined bridges and settlement proofs Abundance and 1 Gigagas/second rollups Modularity Security assumptions Sequencer (de)centralisation Social consensus Celestia’s DA layer bandwidth Ethereum native rollups Decentralisation and censorship-resistance

Episode links:

Hilmar Orth on X Gelato Network on X Abundance on X

Sponsors:

Gnosis: Gnosis builds decentralized infrastructure for the Ethereum ecosystem, since 2015. This year marks the launch of Gnosis Pay— the world's first Decentralized Payment Network. Get started today at - gnosis.io Chorus1: Chorus1 is one of the largest node operators worldwide, supporting more than 100,000 delegators, across 45 networks. The recently launched OPUS allows staking up to 8,000 ETH in a single transaction. Enjoy the highest yields and institutional grade security at - chorus.one

This episode is hosted by Friederike Ernst.


PIVX

Ethical Voting in DAOs: The Role of Masternode Owners in PIVX Governance

PIVX is a decentralized blockchain project that prioritizes financial privacy and security. It utilizes a unique combination of features, including proof-of-stake, masternodes, and zk-SNARKs, to enhance transaction speed, user anonymity, and transaction privacy. Speaking of masternodes, PIVX operates a decentralized governance model that allows the community to shape the project’s future. As a de

PIVX is a decentralized blockchain project that prioritizes financial privacy and security. It utilizes a unique combination of features, including proof-of-stake, masternodes, and zk-SNARKs, to enhance transaction speed, user anonymity, and transaction privacy.

Speaking of masternodes, PIVX operates a decentralized governance model that allows the community to shape the project’s future. As a decentralized open-source project, masternodes are one of the core pillars of the PIVX ecosystem. They bolster network security by validating blocks and transactions across a distributed network of nodes.

In this “Ethical Voting Series,” we will explore the role of masternode owners in PIVX governance.

What is a Masternode?

A masternode is a specialized type of node that performs added functions within a blockchain network. These extra functions vary from one blockchain to another but generally revolve around improved performance and security, as well as governance participation.

PIVX masternodes perform two broad functions — they secure the network by providing additional nodes to validate blocks and transactions and they facilitate decentralized governance by casting their votes on submitted proposals. The latter enables second-layer innovations.

In addition to the right to participate in on-chain governance, PIVX masternodes are incentivized for their contributions to the network. Under the current block reward structure, 4 PIV goes to stakers, masternode operators are rewarded with 6 PIV, and 10 PIV goes to the DAO Treasury for budget and development.

Here’s a quick checklist if you intend to directly host a PIVX masternode:

10,000 PIV collateral 24/7 server uptime Dedicated IP Governance in PIVX

PIVX stands out from many blockchain projects by placing decentralized governance at its core. Unlike systems where governance is an afterthought or primarily controlled by the core team, PIVX mandates that every penny allocated from the treasury must undergo a community-wide vote. This crucial step ensures that Masternode operators, as key stakeholders, have a direct say in how the treasury fund is utilized.

Each cycle, a substantial sum of 432,000 PIV is allocated to the treasury. Community members, including core developers, can submit proposals for funding. These proposals can encompass a wide range of initiatives, from critical protocol upgrades and innovative development projects to vital community outreach programs.

Masternode owners are entrusted with the weighty responsibility of evaluating each proposal meticulously. They must consider its potential impact on the entire PIVX ecosystem, ensuring that the treasury fund is utilized ethically and effectively to advance the long-term goals of the project.

For a proposal to pass, it must receive a net positive vote of at least 10%.

What’s Expected of You

Whether you like it or not, ethical voting in the PIVX ecosystem is paramount to the project’s long-term success. Masternode owners must carefully consider the implications of each proposal before casting their votes. It is crucial to prioritize the overall health and sustainability of the PIVX ecosystem, ensuring that all decisions are made in the best interests of the community as a whole.

I want to define ethical voting as putting the interest and sustainability of the project ahead of your personal interests. You have the right as a masternode holder to vote against a proposal if you believe it does not serve the community’s interests.

It is also important to engage in open discussions with other community members, and carefully analyze the potential risks and rewards associated with each proposal. By exercising your voting rights responsibly and ethically, you can contribute significantly to the growth and development of PIVX.

PIVX. Your Rights. Your Privacy. Your Choice.
To stay on top of PIVX news please visit PIVX.org and Discord.PIVX.org.

Ethical Voting in DAOs: The Role of Masternode Owners in PIVX Governance was originally published in PIVX on Medium, where people are continuing the conversation by highlighting and responding to this story.

Monday, 23. December 2024

bankless

The Year in Memecoins

In 2024, crypto's speculatooors took center stage.
In 2024, crypto's speculatooors took center stage.

10 NFT Highlights of 2024

Ten innovative launches that pushed NFTs forward this year.
Ten innovative launches that pushed NFTs forward this year.

Empiria

Empeiria at Abu Dhabi Finance Week 2024: Shaping the Future of Finance

Abu Dhabi Finance Week (ADFW) 2024 brought together finance, technology, and innovation to explore the future of the financial sector. Empeiria contributed to discussions on decentralized trust and the role of secure data in transforming financial services. This year’s event highlighted the crucial role of data in fueling AI and blockchain advancements. High-quality data is key to driving smarter

Abu Dhabi Finance Week (ADFW) 2024 brought together finance, technology, and innovation to explore the future of the financial sector. Empeiria contributed to discussions on decentralized trust and the role of secure data in transforming financial services.

This year’s event highlighted the crucial role of data in fueling AI and blockchain advancements. High-quality data is key to driving smarter decision-making in finance, while blockchain enhances security, transparency, and operational efficiency. As Marcin Parafianowicz, Founder & CEO of Empeiria, stated: “The synergy between AI and blockchain offers a vision where secure, real-time data can fuel AI’s potential and transform the verification process, reducing 7 trillion USD in charges globally.”

Discussions on digital assets, especially stablecoins and smart contracts, showcased their potential to disrupt traditional finance with faster, trustless transactions. With regulatory environments like the UAE’s embracing these technologies, blockchain and stablecoins are gaining momentum globally.

Empeiria’s participation emphasized our commitment to pioneering secure, privacy-focused decentralized infrastructure. By leveraging our decentralized blockchain solutions, we’re contributing to a future where transparency and trust are the foundation of finance.

ADFW 2024 proved that innovation is reshaping the financial industry, and Empeiria is excited to help lead the charge toward a more decentralized and trustworthy financial future.

Follow Empeiria on X, or LinkedIn for the latest news & updates. For inquiries or further information, contact Empeiria at media@empe.io

Friday, 20. December 2024

Zcash Foundation

Polling ZCAP: ZCG Election & ZCG Compensation

Today, we opened a Helios poll of the Zcash Community Advisory Panel (ZCAP), which will run until December 31st. The purpose of this poll is twofold:  Elections to the Zcash Community Grants Committee Members of the Zcash Community Grants (ZCG) committee are elected by the Zcash Community Advisory Panel, and serve a one year term. […]

Today, we opened a Helios poll of the Zcash Community Advisory Panel (ZCAP), which will run until December 31st. The purpose of this poll is twofold: 

to elect three members of the Zcash Community Grants committee, and to decide whether ZCG committee members’ compensation should be increased.

Elections to the Zcash Community Grants Committee

Members of the Zcash Community Grants (ZCG) committee are elected by the Zcash Community Advisory Panel, and serve a one year term. Three of the current members’ terms are expiring at the end of this year. Last month, we invited candidates to express their interest in serving on the committee.

Five candidates are standing for three seats on the committee. Here is the list of candidates, with links to their candidacy announcements on the Zcash community forum: 

Artkor Tokidoki Jason McGee Zerodartz Kworks Chidi Ambimorph

On Tuesday, the candidates took part in a Community Call, during which they introduced themselves and answered questions from the Zcash community. You can watch a recording of the call on Youtube.

Good luck to all the candidates, and thank you for volunteering to serve on the ZCG committee!

ZCG Committee Members’ Compensation

ZCG committee members currently receive a stipend of $1,725 per calendar month. The current committee is requesting that this be changed to $1,725 + 10 ZEC per month. During a forum discussion about this request, several community members made other suggestions.

The following options are presented in this poll:

$1,725 per month (status quo) $1,725 per month + 10 ZEC per month $2,275 per month $1,775 per month 20 ZEC per month with a USD cap of $2,000

ZCAP members should check their mailbox for instructions on how to vote. In the past, Helios emails have sometimes been flagged as spam, so if you can’t find the instructions please check your Spam folder. 

The poll will close at 09:00 UTC on 1st January 2025.


bankless

Why AI Agents Matter

Yes, they're already everywhere. But why do AI Agents matter for crypto?
Yes, they're already everywhere. But why do AI Agents matter for crypto?

a16z Podcast

Jobs of the Future, Harnessing Earth Observation, & Gaming Tech Advances

As 2025 begins, industries are evolving at unprecedented speed: robots are revolutionizing manufacturing, terabytes of earth observation data are driving new possibilities, and gaming technology is transforming how we design, train, and innovate across sectors. In this episode, a16z General Partner Erin Price-Wright, Engineering Fellow Millen Anand, and Partner Troy Kirwin discuss the trends resh

As 2025 begins, industries are evolving at unprecedented speed: robots are revolutionizing manufacturing, terabytes of earth observation data are driving new possibilities, and gaming technology is transforming how we design, train, and innovate across sectors.

In this episode, a16z General Partner Erin Price-Wright, Engineering Fellow Millen Anand, and Partner Troy Kirwin discuss the trends reshaping the future of hardware, software, and beyond.

We explore:

How robots and full-stack engineers are driving the next industrial renaissance. The explosion of Earth observation data and its potential to revolutionize industries. How gaming technology is moving beyond entertainment to reshape training, design, and more.

This is just the beginning of our four-part series on 50 Big Ideas for 2025—don’t miss the full list at a16z.com/bigideas.

Resources: 

Find Erin on X: https://x.com/espricewright

Find Millen on LinkedIn: https://www.linkedin.com/in/millen-anand/

Find Troy on X: https://x.com/tkexpress11

Stay Updated: 

Let us know what you think: https://ratethispodcast.com/a16z

Find a16z on Twitter: https://twitter.com/a16z

Find a16z on LinkedIn: https://www.linkedin.com/company/a16z

Subscribe on your favorite podcast app: https://a16z.simplecast.com/

Follow our host: https://twitter.com/stephsmithio

Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

Thursday, 19. December 2024

Zcash

Drumroll Please: Introducing Zashi-Keystone Hardware Wallet Integration for Shielded ZEC

We are so proud to announce the launch of the Zashi-Keystone integration, a major breakthrough for the Zcash community that has been years in the making. This integration marks a […] Source
We are so proud to announce the launch of the Zashi-Keystone integration, a major breakthrough for the Zcash community that has been years in the making. This integration marks a […]

Source


PIVX

How to use PIVCards

PIVCards is a user-friendly platform for purchasing gift cards using PIVX coins. Launched in 2023, the platform allows you to effortlessly buy gift cards for Amazon, Steam, Netflix, and countless other brands, all powered by the privacy of PIVX. Here’s a step-by-step guide on how to use PIVCards and spend your PIV coins. Step 1: Visit the official PIVCards website. Unlike other gift c

PIVCards is a user-friendly platform for purchasing gift cards using PIVX coins. Launched in 2023, the platform allows you to effortlessly buy gift cards for Amazon, Steam, Netflix, and countless other brands, all powered by the privacy of PIVX.

Here’s a step-by-step guide on how to use PIVCards and spend your PIV coins.

Step 1: Visit the official PIVCards website. Unlike other gift cards platforms that may require you to create an account, there is no need to sign-up or use your email on PIVCards. The process is completely private, meaning you can make your purchase with SHIELDed PIV. Furthermore, payments are sent to a shielded address. Step 2: Select your region and search for your preferred gift card. There are thousands of gift cards to choose from. For this example, I chose a 50-pound Airbnb gift card in the United Kingdom. Step 3: The next step is to input a refund address. Your PIV coins will be returned to this address if there are any issues with the purchase or if you change your mind before the transaction is completed.

Note: You can set your web browser to remember your refund address to avoid repeating this step every time you use the platform.

Step 4: Proceed to checkout by depositing the equivalent amount of PIV (£50 pound worth in this case) into the given address. You can opt for the MyPIVXWallet one-click checkout or transfer the funds from any PIVX wallet. Failure to complete the process within 30 minutes will lead to a cancellation. Step 5: Once the transaction is confirmed on the PIVX blockchain, the funds will be credited to your PIVCards account and the gift card code will be released. Easy Pizzi, right?

PIVX. Your Rights. Your Privacy. Your Choice.
To stay on top of PIVX news please visit PIVX.org and Discord.PIVX.org.

How to use PIVCards was originally published in PIVX on Medium, where people are continuing the conversation by highlighting and responding to this story.

Wednesday, 18. December 2024

bankless

Top X Accounts for Crypto AI Agent Alpha

The Twitter accounts where we're tracking opportunities and alpha in the AI Agent space.
The Twitter accounts where we're tracking opportunities and alpha in the AI Agent space.

The Consumer Chain: Getting Ready for the Abstract L2

Abstract is an Ethereum L2 built from the ground up to power consumer crypto apps.
Abstract is an Ethereum L2 built from the ground up to power consumer crypto apps.

Justin Sun's wBTC Involvement is 'Unacceptable Risk,' Coinbase Says

Coinbase responded to BiT Global's lawsuit over its wBTC delisting with some harsh words.
Coinbase responded to BiT Global's lawsuit over its wBTC delisting with some harsh words.

Deutsche Bank Unveils ZKsync-Based Layer 2

Banks are testing out L2s as they look to create a permissioned blockchain future for finance.
Banks are testing out L2s as they look to create a permissioned blockchain future for finance.

Polygon Faces Proposal Pushback and Aave Fallout

Polygon community rejects controversial $1B+ yield proposal.
Polygon community rejects controversial $1B+ yield proposal.

Epicenter Podcast

Monad: The EVM-Compatible 10,000 TPS L1 Blockchain - Keone Hon

The status quo for developers choosing an ecosystem for their blockchain usually revolves around trade-offs: do they go for Ethereum’s network effect, liquidity and decentralisation, or sacrifice some features in favour of a higher throughput. Monad aims to combine the best of both worlds, while not being limited by excessive hardware requirements. Monad built an EVM-compatible L1 from the ground

The status quo for developers choosing an ecosystem for their blockchain usually revolves around trade-offs: do they go for Ethereum’s network effect, liquidity and decentralisation, or sacrifice some features in favour of a higher throughput. Monad aims to combine the best of both worlds, while not being limited by excessive hardware requirements. Monad built an EVM-compatible L1 from the ground up, completely rethinking execution and consensus, in order to achieve the infamous 10,000 TPS. This extreme scalability is made possible through Monad’s optimistic parallel execution which is asynchronous from consensus. The latter has also been optimized in order to achieve single-slot finality. Monad’s proprietary database architecture allows for states to be stored on SSDs instead of RAM, which ensures that consumer-grade hardware can run a Monad node, further increasing decentralisation.

Topics covered in this episode:

Keone’s background TradFi vs. DeFi and how Monad was founded EVM’s network effect vs. other VMs How Monad aims to improve EVM’s performance MonadDB MonadBFT - New consensus mechanism Asynchronous execution MEV and proposer-builder separation (PBS) Monad’s throughput Further scaling and limitations Alternatives & trade-offs DevEx Community & ecosystem development

Episode links:

Keone Hon on X Monad on X

Sponsors:

Gnosis: Gnosis builds decentralized infrastructure for the Ethereum ecosystem, since 2015. This year marks the launch of Gnosis Pay— the world's first Decentralized Payment Network. Get started today at - gnosis.io Chorus1: Chorus1 is one of the largest node operators worldwide, supporting more than 100,000 delegators, across 45 networks. The recently launched OPUS allows staking up to 8,000 ETH in a single transaction. Enjoy the highest yields and institutional grade security at - chorus.one

This episode is hosted by Brian Fabian Crain.


Greylock Partners

Gen AI Present and Future: A Conversation with Rashmi Kumar, SVP and CIO at Medtronic 

The post Gen AI Present and Future: A Conversation with Rashmi Kumar, SVP and CIO at Medtronic  appeared first on Greylock.

Tuesday, 17. December 2024

bankless

Vote Canceled to Renominate SEC Commissioner Crenshaw

The SEC may soon be led solely by Republican commissioners.
The SEC may soon be led solely by Republican commissioners.

Top AI Agent Infrastructure Plays & Tokens

An in-depth look at 5 AI platforms and how each has positioned its token to accrue value as it scales.
An in-depth look at 5 AI platforms and how each has positioned its token to accrue value as it scales.

Pudgy Penguins NFT Collection Launches PENGU Token

PENGU is trading at a fully diluted value of nearly $3 billion.
PENGU is trading at a fully diluted value of nearly $3 billion.

Lido is Leaving the Polygon Ecosystem

Polygon's DeFi ecosystem is facing major headwinds.
Polygon's DeFi ecosystem is facing major headwinds.

Monday, 16. December 2024

bankless

FTX Shares Repayment Timeline

Many FTX creditors are just weeks away from finally getting their hands on repayments.
Many FTX creditors are just weeks away from finally getting their hands on repayments.

Polygon's Stablecoin Standoff

Aave threatens to unwind Polygon operations in governance clash.
Aave threatens to unwind Polygon operations in governance clash.

The Rise of AI-Driven DAOs: 5 Challenges to Watch

With artificial intelligence on the rise, DAOs face new challenges and opportunities.
With artificial intelligence on the rise, DAOs face new challenges and opportunities.

How Our Token Hub Ratings Performed: Dec. 2024

How have our analyst team's predictions performed?
How have our analyst team's predictions performed?

MicroStrategy Buys Another 15,350 BTC

The firm's total holdings have reached 439,000 bitcoin.
The firm's total holdings have reached 439,000 bitcoin.

a16z Podcast

Scaling Shopify: Tobias Lütke and Ben Horowitz on Building a Global Giant

In this episode of Web3 with a16z, Shopify CEO and cofounder Tobias Lütke joins a16z cofounder Ben Horowitz for a conversation recorded live at the a16z crypto Founders Summit. Together, they explore what it takes to build a breakout startup in a competitive market, the changing landscape of retail, and how to drive workplace change while navigating corporate culture and calls for activism. Tobi

In this episode of Web3 with a16z, Shopify CEO and cofounder Tobias Lütke joins a16z cofounder Ben Horowitz for a conversation recorded live at the a16z crypto Founders Summit.

Together, they explore what it takes to build a breakout startup in a competitive market, the changing landscape of retail, and how to drive workplace change while navigating corporate culture and calls for activism.

Tobias shares the story behind Shopify's growth from a snowboarding store to a global ecommerce platform serving millions of merchants, discusses the moral imperative of creating great software, and offers insights on leadership, innovation, and embracing negativity as a tool for progress.

The episode also touches on the intersection of AI and crypto, the power of decentralization, and the next wave of technologies reshaping business and commerce.

 

Resources:

Find Ben on X: https://x.com/bhorowitz

Find Toni on X: https://x.com/tobi

 

Stay Updated: 

Let us know what you think: https://ratethispodcast.com/a16z

Find a16z on Twitter: https://twitter.com/a16z

Find a16z on LinkedIn: https://www.linkedin.com/company/a16z

Subscribe on your favorite podcast app: https://a16z.simplecast.com/

Follow our host: https://twitter.com/stephsmithio

Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.

Saturday, 14. December 2024

bankless

Will Quantum Crack Bitcoin?

Weekly Recap: BTC chops back above $100K while anxiety builds around quantum computing breakthroughs.
Weekly Recap: BTC chops back above $100K while anxiety builds around quantum computing breakthroughs.

Friday, 13. December 2024

bankless

VanEck Releases Crypto Price Predictions for 2025

The firm touches on where the industry is going and where prices are headed.
The firm touches on where the industry is going and where prices are headed.

Pro-Crypto Rep. French Hill Will Chair House Financial Services Committee

The crypto-friendly representative chairs one of Congress's most powerful committees.
The crypto-friendly representative chairs one of Congress's most powerful committees.

Top Crypto Developer Trends of 2024

We highlight top takeaways from Electric Capital's 2024 Crypto Developer Report.
We highlight top takeaways from Electric Capital's 2024 Crypto Developer Report.

First Criminal Crypto Tax Conviction Ends with Prison Sentence

An early bitcoin investor was convicted after underreporting gains from millions in sales.
An early bitcoin investor was convicted after underreporting gains from millions in sales.

xx.network

CrowdSwap.org “Crowd Sale” WXX (BEP20) Launch

WXX (BEP20) Crowd Sale with Reward Incentive Program Objective Starting Monday, December 16th(1pm PDT/8pm UTC), to encourage early participation in [...] Read More... from CrowdSwap.org “Crowd Sale” WXX (BEP20) Launch The post CrowdSwap.org “Crowd Sale” WXX (BEP20) Launch appeared first on xx network.
WXX (BEP20) Crowd Sale with Reward Incentive Program Objective

Starting Monday, December 16th(1pm PDT/8pm UTC), to encourage early participation in the launch of the WXX (BEP20) token
(contract address: https://bscscan.com/token/0x0109d6994093539245Aa820B9c98405b0648f0B4) on the CrowdSwap Website, xx Labs Ltd is creating an xx rewards program that will reward participants that purchase WXX(BEP20) in the “Crowd Sale” pool on crowdswap.org.

Proceeds from the sales pool will only be used to create  liquidity pools, first on CrowdSwap and then later on Pancake Swap.

At the end of the “Crowd Sale” campaign (February 14th, 2025), participants will receive their purchased WXX (BEP20) tokens. If the pool sells out before the deadline, tokens may be released earlier but this will be at the discretion of xx Labs. To receive Incentive Rewards, participants must hold their WXX tokens for a minimum of 28 days in their wallets after the purchase date. The holding time is considered to begin from the time of purchase, not the end of the program. So, for example, if a participant purchased on the first day of the crowdsale, they will have easily met the holding requirement of 28 days, while on the other hand if a purchase is made 1 day prior to the end of the crowdsale, although they will receive their purchased WXX (BEP20) upon conclusion of the sale, they will be required to hold their purchased WXX (BEP20) for 28 additional days from the time of their purchase in order to be eligible for the bonus rewards program.

When the sale concludes, participants will be able to connect multichain wallets, such as MetaMask or Trust Wallet etc, which they used to purchase WXX (BEP20), through a secure web-based app that the xx Foundation will produce. Using this app, participants can submit their native XX addresses and verify their purchased WXX(BEP20) balances by signing a message in the webapp. 

Verified participants will receive Incentive Award XX coins directly in their registered native XX accounts.

The sales pool will consist of 2,000,000 WXX (BEP20). The reward incentive program will allocate 1 million XX coins for the rewards distribution pool. 

Note: To ensure compliance, the program is not available to U.S.-based participants.

Detailed Program Terms 1. Purchase WXX (BEP20) Tokens via CrowdSwap “Crowd Sale” web application. Platform Access: Users will access the Crowd Sale via (https://app.crowdswap.org/opportunity), where they will see the WXX(BEP20) Crowd Sale opportunity. Any major cryptocurrencies may be used to purchase WXX via Crowdswap’s built in swapping mechanism. Proceeds will convert to USDT via the Crowdswap platform. Native XX Account Address Submission: Before users can receive any of the XX incentive rewards they will also be required to submit their XX account address (non-exchange) or create a new one if they don’t already have one. This will be done via a web application being created by the development team. 

Note: Access link to the verification web app is TBA prior to the end of the crowdsale (Feb 14th 2025).

2. Web-based Wallet Verification
Once available, participants will use the verification web app in this way: Connection: Users will connect their wallets (e.g., MetaMask, Trust Wallet) to the web app. It will detect and confirm the account used to purchase WXX (BEP20) on CrowdSwap. Verification: Participants will sign a message from their wallet, allowing the platform to verify their WXX balance on the Binance Smart Chain (BSC) and how long it was held. This signed message verifies eligibility without relying on a centralized tracking system. Incentive  Reward Eligibility: Verified balances will determine the user’s eligibility for a reward of XX coins into their native xx account, based on a tiered reward system linked to their WXX purchase amounts. 3. Incentive Award Holding Period Requirement Holding Period: Participants must hold their purchased WXX (BEP20) tokens in their account for 28 days to qualify for the incentive reward. Verification: The 28-day holding period will be confirmed via a signed wallet message, ensuring manual or automated verification of the balance. 4. Reward Pool Distribution Total Reward Pool: 1 million native XX tokens will be allocated for the reward incentive. Dynamic Tiered Reward Structure: Base Incentive Award: 5% Incremental Incentive Award: Increases by 0.1% per 1,000 WXX purchased, capped at 20% for purchases of 150,000 WXX or more. Example: 1,000 WXX: 5.10% Incentive Award 5,000 WXX: 5.50% Incentive Award 50,000 WXX: 10.00% Incentive Award 150,000 WXX or more: 20% Incentive Award (capped) 5. Volume-Based Multiplier Incentive Full Purchase Incentive Award: If the 2 million WXX pool is fully sold, all participants will receive an additional 1.4x multiplier on their original Incentive Award. Example After Multiplier: 5,000 WXX Purchase: Original Incentive Award of 5.50%, increased to 7.7% with the multiplier. 50,000 WXX Purchase: Original Incentive Award of 10%, increased to 14% with the multiplier. 6. Lockup and Vesting Period for Incentive Awards Initial Lockup: All rewards will be subject to a 9-month lockup period, during which the coins cannot be transferred or sold. Vesting Options for Additional Incentive Awards: Participants can also choose from three linear vesting periods to commence once the initial 9 month lock expires: 3-month vesting: Additional 5% Incentive Award 6-month vesting: Additional 10% Incentive Award 12-month vesting: Additional 20% Incentive Award Example: A participant with an initial 5,000 XX Incentive Award choosing a 12-month vesting period will receive an additional 1,000 XX coins spread over the vesting period. 7. Automatic Reward Distribution Post Verification: After the 28-day holding period and verification via the web app, eligible participants will receive their XX coin Incentive Awards directly into their native XX accounts. Reward distribution will occur randomly within 1–2 weeks, adding an additional layer of privacy and preventing predictability in token transfers. 8. Privacy Protection via xx Network Privacy Measures: All user interactions with the web app—including wallet connections and message signatures—will be routed through the xx network using xxRPC. This ensures that personal metadata remains private and secure. Legal Disclaimer

Participants should be aware that the xx rewards may be subject to taxation, depending on local regulations. The xx Foundation recommends that participants consult a tax advisor to understand any tax obligations associated with receiving XX coins. This program does not constitute investment advice, nor does it guarantee any specific return or profit.

Excluded Participants

To comply with applicable securities regulations and international law, participation in the program will not be open to all. Access to the program webpage and web app will be restricted for users located in the United States, American Samoa, Guam, Northern Mariana Islands, Puerto Rico, United States Minor Outlying Islands, Virgin Islands, North Korea, Cuba, and Iran.

Summary of Participant Steps Purchase WXX on CrowdSwap: Participants acquire WXX (BEP20) tokens through the CrowdSwap “Crowd Sale” pool. Hold Tokens for 28 Days: WXX tokens must remain in the participant’s account for 28 days, once received, to qualify for incentive rewards. Connect Wallet and Submit Native XX Account Address: Participants connect to the web app, submit their native XX account address, and sign a message to verify their WXX balance. Choose Vesting Period: After the 9-month lockup, participants will select a vesting schedule to receive additional Incentive Awards. Receive Rewards: Verified XX coin Incentive Awards are distributed automatically to participants’ native XX accounts after the program concludes.

The post CrowdSwap.org “Crowd Sale” WXX (BEP20) Launch appeared first on xx network.

Thursday, 12. December 2024

bankless

The Top AI Agent Tokens We're Watching

Ten of the buzziest AI tokens and memecoins offering exposure to the AI Agent narrative.
Ten of the buzziest AI tokens and memecoins offering exposure to the AI Agent narrative.

BlackRock Talks 'Reasonable' Bitcoin Allocation

How much BTC does BlackRock think normies should have in their portfolios?
How much BTC does BlackRock think normies should have in their portfolios?

Frax Builds AI Tech Stack on Blockchain

Frax enters the AI Agent fray with its own development environment.
Frax enters the AI Agent fray with its own development environment.

Avalanche Raises $250M for Avalanche9000 Upgrade

Institutional investors bet on Avalanche's next chapter.
Institutional investors bet on Avalanche's next chapter.

Eternum 101: How to Play Starknet's New Onchain MMO

A beginner's guide to playing Eternum, a new onchain MMO on Starknet.
A beginner's guide to playing Eternum, a new onchain MMO on Starknet.

Sequoia

Warp Spotlight

The post Warp Spotlight appeared first on Sequoia Capital.
Transforming the Command Line at Warp Speed Published December 12, 2024 By Ananya Menon Ananya Menon is a journalist and screenwriter based in Los Angeles. Photography: Brian Guido Zach Lloyd is reinventing the terminal for the AI era. Published December 12, 2024 By Ananya Menon Ananya Menon is a journalist and screenwriter based in Los Angeles. Photography: Brian Guido

In early November 2023, hundreds of developers from around the world filed into an auditorium in the heart of downtown San Francisco. It was OpenAI’s inaugural DevDay, an event where—à la WWDC—the company would preview its latest technology and discuss the future of AI. 

During the keynote address, Romain Huet, head of developer experience at OpenAI, took the stage to introduce the company’s latest tool: a voice-enabled intelligent assistant. To pull back the curtain on the assistant’s underlying function calls, Huet pulled up his terminal log. 

The terminal, an interface for using text commands to interact directly with a computer, is a 50-year-old staple of software engineering, beloved for its precision and efficiency while simultaneously hated for its extreme user-unfriendliness. Most people recognize the terminal from movies: a bare-bones user interface with a black screen and green text where hackers frantically type in commands. 

But the terminal that Huet displayed before the DevDay audience looked markedly different. It featured an IDE-like experience for editing commands, one-click sharing of terminal outputs with teammates, and an interface that allows users to interact with the terminal in natural language for coding and troubleshooting. As Huet demonstrated the inner workings of OpenAI’s new product, the terminal on display looked different from a traditional terminal because it was different: The command line interface powering OpenAI’s assistant was a terminal called Warp. 

Warp, founded by Zach Lloyd in June 2020, is a terminal reimagined for the modern developer. Today, as engineers race to build AI products, the terminal is proving essential due to its ability to navigate large volumes of data, automate batch processing and quickly execute scripts. Warp’s terminal checks these boxes while introducing new AI-based features that promote usability, collaboration and productivity. 

The notion, however, that Warp would be embraced by developers at OpenAI, among other companies including Atlassian, Cisco, Netflix and Salesforce, was never a given. A mere two years ago, the idea of reinventing something as sacrosanct in software engineering as the terminal flew in the face of accepted wisdom. 

In the summer of 2021, a post appeared on Hacker News titled “Warp: Fast, Rust-based terminal.” It announced the beta launch of the app and invited developers to sign up and try it.  Within minutes, the post began racking up comments—some intrigued, others skeptical. 

Criticisms boiled down to concerns over trust and security. Traditional computer terminals don’t require logins; if users entered passwords into Warp, would the company sell their data for profit? Would they make themselves liable to potential data breaches? There was also the ideological argument: Why should they pay for something new when its original version was free? And there was a sense of pride among those who understood the terminal’s eccentricities (and had memorized its arcane commands). To them, part of the appeal of the terminal was its difficulty of use; becoming skilled at using it was a rite of passage. 

“A lot of CEOs run away from this sort of experience because it’s unpleasant to have people telling you your idea is dumb,” says Andrew Reed, a partner at Sequoia. “One thing about Zach is that he’s a CEO who believes enough in the value of what he’s building that he is comfortable being yelled at on the internet.” 

Lloyd’s own experience had also taught him that skeptics of technology innovations aren’t always right. At Google, he’d been tasked with reimagining a software staple almost as foundational as the terminal—the spreadsheet—over fierce protests from Excel purists. The resulting product, Google Sheets, is now used by about a billion people per month. 

The internet could yell as much as it pleased. Lloyd wasn’t deterred. 

Lloyd’s interest in computer science began in college. He was drawn to software’s ability to make convoluted tasks faster and pulled his first all-nighter building a program that could find every word on a Boggle board. But Lloyd frequently encountered software for developers that was difficult to use, whether it had a steep learning curve or a nonintuitive design. “It drove me nuts,” he says. “It was like trying to get the shrink wrap off of the puzzle box before you can solve it. I wanted to actually solve the puzzle, not spend all my time trying to open the box.” 

Despite his interest in coding, following college graduation Lloyd let his curiosity guide him, testing the waters of a range of disciplines. He worked at NASA’s Jet Propulsion Lab, earned a master’s in philosophy, and even did a year of law school at Yale. “It took me longer than most people to figure out what I wanted to spend my life doing,” Lloyd says, “but I think there was value in being exposed to different fields and different ways of thinking.” It was in law school that Lloyd realized he missed building technology. He had an urge to create tools that were useful for people, and so he returned to engineering. 

In 2007, Lloyd was hired by Google to work on one of its newest products: Google Sheets. “I used to tell my friends I was working on Sheets, and none of them had heard of it,” Lloyd says. “When I would explain it, they would say, ‘Oh, Google has an Excel.’” 

The general opinion was that Excel—a decades-old, tried-and-true program—was irreplaceable. Why would anyone switch to a new spreadsheet software? But Excel had its shortcomings. The app was local, meaning if users wanted to collaborate on a spreadsheet, they had to export their work, email it to a teammate to edit, and hope that in the back-and-forth, versions weren’t lost and work wasn’t duplicated. Lloyd’s team saw an opportunity. What if they could offer a familiar experience but in the cloud, allowing for seamless, real-time collaboration?  

This undertaking came with immense technical challenges: recreating an on-prem program in the cloud, building real-time collaborative functions, and engineering the product in such a way that people could easily transfer their spreadsheets from Excel to Google Sheets and immediately continue their work. “We were trying to push forward innovation on document editing but had this everlasting tension where people have all these existing Microsoft Office files that we had to support,” Lloyd says, “and so transforming this technology in a way that would actually benefit people and not slow them down was very hard.” 

In his time at Google, Lloyd says he grew both as an engineer and a leader, learning to manage a team that grew in the following years from five people to more than 100. By the time Lloyd left in 2014, Sheets had hundreds of millions of users. “Everyone I knew, every start-up, was using Google Sheets,” he says. “By then, no one was referring to the product as Google’s version of Excel. People knew it as Google Sheets.” 

This was perhaps the most valuable insight Lloyd took from his time at Google: Some products are built as solutions to urgent, “hair-on-fire” problems. Others are built because someone is willing to question the status quo and decide it isn’t good enough. Some supposed “hard facts” are merely “hard problems” waiting to be solved. The experience of upending an accepted status quo was enticing, and Lloyd would go on to look for other supposed “hard facts” to turn on their heads.

In 2016, Lloyd cofounded a startup called SelfMade, which helps businesses succeed on social media. Leading his own company offered Lloyd a new set of lessons. At Google, he had been in a structured work setting, where there was always another rung of the ladder to climb and a clear path to get there. At a startup, there was no safety net and no definitive next step. Lloyd was happy to discover that he thrived in this strategic, competitive environment. But over time, something began to gnaw at him, a growing feeling that SelfMade wasn’t the right company for him. In 2019, he stepped down as its CTO.  

Lloyd spent the next few months reflecting on his experience at SelfMade, working to understand why it hadn’t been the right fit for him as a founder. “This might sound obvious, but I realized it’s really important to me to be working on a problem that I care deeply about,” Lloyd says. “SelfMade helped people with social media, and I don’t really use social media. It was a tech-enabled company, but the product was people’s labor. Building software is what I loved to do, so I wanted to work at a company where the software was the product.”

As Lloyd considered what he should do next, he thought back to the ethos that drove the development of Google Sheets: How do you build software that challenges a hard fact and makes peoples’ lives easier? More personal to Lloyd, how could you make developers’ lives easier? He considered the foundational tools of software development. And then it dawned on him that there was one that had never been improved: the terminal. 

While the average user relies on graphic user interfaces (GUIs) to communicate with computers, the terminal, which employs a command line interface (CLI), is an integral part of developers’ workflows and often the most efficient path to building software. While GUIs are great for certain tasks, there’s a class of developer tasks that are much better done in the command line. “A command line is more flexible than a GUI,” says Lloyd. “It allows developers to automate their own work. Most of the internet is actually just running command line apps. They are also the easiest to write—you just need to take text in and output text, no need to design anything with pixels.” Not only is working in the terminal faster, it is more memory efficient and offers higher precision and control over an operating system. 

Yet this critical tool, essentially unchanged since it first shipped in 1969, is also notoriously cumbersome. Engineers must be versed in the terminal’s library of complicated, esoteric commands and must use them precisely; one wrong character could brick your computer. What’s more, those working in the terminal can only access projects locally, making the development process a solo undertaking with little room for collaboration. “The terminal is truly archaic,”  Lloyd says. “I thought, What if I could take this old school basic interface of just text in and text out and really improve it?” This was the genesis of Warp. 

One of Lloyd’s takeaways from his time at SelfMade was the necessity of prioritizing product-market fit over growth. SelfMade had dedicated resources to expansion before it had a high level of user engagement and retention. Lloyd knew that with Warp, he would need to take incremental, intentional steps to build his business and make sure he had created something users would find invaluable. 

Lloyd’s first step was convincing his former colleague at Google, Shikhiu Ing, to come on board as a founding designer. They put together a prototype of Warp, which Lloyd knew would be critical in communicating his vision. “It’s just night and day when someone can actually see how your product will work. Once we showed it to people, they got it. That was huge for us.” Having Ing on board was also the social proof Lloyd needed that Warp was a good idea. “Once you get one smart person to sign on, it becomes marginally easier to get the next, and the next.” They hired two more talented engineers willing to take a risk on Warp, Michelle Lim and Aloke Desai, and got to work building the product.

It took six months, working tirelessly through the pandemic, for them to create a version of Warp they were happy with. Similar to Google Sheets taking on the incumbent Excel, Lloyd and his team had to balance the new with the familiar. “The real technical challenge with Warp was trying to innovate while making sure that the terminal that we’re building actually still works with people’s existing scripts and muscle memory,” Lloyd says. “We could have built something where we totally reimagined it and no one would have ever used it because none of their existing stuff worked.” At one point, struggling to match the terminal’s performance speed, the team decided to scrap Warp’s system entirely and rewrite it from scratch in Rust, a lower-level programming language popular with infrastructure engineers. The switch, while tedious, ensured Warp would offer terminal users the speed they were accustomed to. 

As for new elements, in Warp developers now have a modern IDE inside the familiar terminal. Warp allows teammates to share terminal commands and notebooks directly in their product by syncing them to the cloud. Warp also allows teammates to collaborate on the same terminal session in real time—similar to the multiplayer experience in Google Docs or Figma—so they can fight fires or debug issues. 

Lloyd’s next step was determining if there was an audience for Warp. Would the developer community even want it? To find out, in July of 2021, he published the article announcing the beta launch of Warp to Hacker News. 

Lloyd describes the critical feedback within the stream of comments on the Hacker News post as “painful—but it wasn’t going to kill the company.” As it turned out, those who were intrigued by the app far outnumbered the skeptics. Less than 24 hours after posting on Hacker News, over 10,000 developers had signed up to try it.

Over the next year, Warp iterated its product in beta with small groups of users. Lloyd solicited feedback, made adjustments, and in April 2022, the application—originally for MacOS—became available to the public. Within days, its user base grew to tens of thousands. In 2023, the company introduced Warp AI, an LLM-powered sidebar where users can ask questions if they need help remembering a command, fixing an error or tackling the next step in their workflow. In February 2024, Warp was officially released for Linux.

Lloyd’s hunch back in 2020, on the cusp of the LLM era, that an updated terminal would prove useful for developers, couldn’t have been more prescient. “Large language models are essentially command-line interfaces,” Lloyd told FastCompany, “and the terminal, the thing that we’re working on, is kind of the ideal way to interface with them.” As AI changes how code is written and software is consumed, the terminal is the most direct way to interface with AI—not just via chat but as a way of asking AI to do tasks for you. It’s a natural interface for launching AI agents (hence Warp’s June 2024 release of “Agent Mode,” which allows users to ask AI to directly accomplish tasks in the terminal).

Today, Warp has grown its user base to hundreds of thousands of developers. The company now has paying customers, both individuals and enterprises—proof of Lloyd’s vision that people will pay for AI development tools, even those that have traditionally been free utilities, when it helps ship better software more efficiently. His strategy is to strengthen Warp’s collaborative and intelligence features so that developers increasingly want to use Warp as a team—a tactic similar to Dropbox, Slack and Figma. “Monetization comes from companies wanting to pay to have their developers be more efficient and productive and working better together,” Lloyd says. “So our user growth is from the bottom up, but the revenue is like a B2B, enterprise or small team revenue model based on collaboration, intelligence and features that are for companies.” 

Lloyd’s long term goal is for Warp to help developers with a wider set of workflows, all available in one integrated app. Users will be able to log in to Warp and access not just a better terminal but improved versions of a range of tools, from code editing to DevOps and developer environment management. “Any place a developer is spending their time on a keyboard, Warp will be there,” Lloyd says.

JOIN OUR MAILING LIST Get the best stories from the Sequoia community. Email address Leave this field empty if you’re human: Share Share this on Facebook Share this on Twitter Share this on LinkedIn Share this via email Retooling the Status Quo Spotlight Read Keeping an Open-Source Mind Spotlight Read Battling the Trojan Horse in Open Source Spotlight Read Ryan Dahl of Deno: Revisionist Engineering Spotlight Read

The post Warp Spotlight appeared first on Sequoia Capital.

Wednesday, 11. December 2024

bankless

AI Swarms: The Future of Decentralized Agent Networks

How crypto's AI agents will team up to tackle big problems.
How crypto's AI agents will team up to tackle big problems.

Coincheck Parent Company Breaks Ground With Nasdaq Listing

The Japanese crypto exchange is first to be listed on Nasdaq.
The Japanese crypto exchange is first to be listed on Nasdaq.

Circle and Binance Partner to Boost USDC Adoption

USDC gets a big vote of confidence.
USDC gets a big vote of confidence.

Ripple’s RLUSD Gains Regulatory Approval

Ripple's stablecoin got the sign-off from New York's top financial regulator.
Ripple's stablecoin got the sign-off from New York's top financial regulator.

a16z Podcast

How AI is Transforming Labor Markets

Did you know the U.S. nurse labor market is over $600 billion annually, but the dedicated software market for nurses is almost zero? In this episode General Partners Alex Rampell, David Haber, and Angela Strange discuss how AI is revolutionizing labor by automating tasks traditionally done by humans. They’ll trace the evolution of cloud eras — from the original to financial services-enabled to t

Did you know the U.S. nurse labor market is over $600 billion annually, but the dedicated software market for nurses is almost zero?

In this episode General Partners Alex Rampell, David Haber, and Angela Strange discuss how AI is revolutionizing labor by automating tasks traditionally done by humans.

They’ll trace the evolution of cloud eras — from the original to financial services-enabled to the current AI-enabled outcomes era — showcasing how AI is creating unprecedented opportunities, allowing startups to outpace incumbents. They also explore how this shift will reshape industries, where we are in the adoption curve and what companies need to succeed, and the gaps where the a16z Enterprise team would love to see more innovation.

Resources:

AI Turns Capital to Labor:  https://a16z.com/ai-turns-capital-to-labor/ The Messy Inbox Problem: https://a16z.com/the-messy-inbox-problem-ai-apps-wedge-strategies/ Vertical SaaS: Now with AI Inside: https://a16z.com/vertical-saas-now-with-ai-inside/ BarbAIrians at the Gate: The Financial Opportunity of AI: https://a16z.com/financial-opportunity-of-ai/

Stay Updated:

Let us know what you think: https://ratethispodcast.com/a16z Find a16z on Twitter: https://twitter.com/a16z Find a16z on LinkedIn: https://www.linkedin.com/company/a16z Subscribe on your favorite podcast app: https://a16z.simplecast.com/ Follow our host: https://twitter.com/stephsmithio

Please note that the content here is for informational purposes only; should NOT be taken as legal, business, tax, or investment advice or be used to evaluate any investment or security; and is not directed at any investors or potential investors in any a16z fund. a16z and its affiliates may maintain investments in the companies discussed. For more details please see a16z.com/disclosures.a

 


Greylock Partners

With Pepper, Independent Distributors Have a Trusted Partner to Power Their Go-to Market Strategy

The post With Pepper, Independent Distributors Have a Trusted Partner to Power Their Go-to Market Strategy appeared first on Greylock.

Epicenter Podcast

Succinct: Every Rollup Will Be a ZK Rollup! - Uma Roy

Polynomials are quintessential in machine learning for establishing relationships between outputs and inputs. However, there is also a field in cryptography which could not be made possible without polynomials - zero-knowledge technology. In zero-knowledge proof systems, computations are often represented as arithmetic circuits, and these circuits are translated into polynomials. This process is c

Polynomials are quintessential in machine learning for establishing relationships between outputs and inputs. However, there is also a field in cryptography which could not be made possible without polynomials - zero-knowledge technology. In zero-knowledge proof systems, computations are often represented as arithmetic circuits, and these circuits are translated into polynomials. This process is crucial for generating proofs that can demonstrate the correctness of computations without revealing the underlying data. The involved complexity explains the massive adoption hurdle for zk rollups compared to optimistic ones. Succinct aims to simplify the use of zero-knowledge proofs by providing a zkVM (SP1) that allows code written in languages like Rust to be proven in a privacy-preserving way. By doing so, it aims to lower the barrier to implementing zk-rollups and increase their adoption.

Topics covered in this episode:

Uma’s background and her interest in zero knowledge tech How Succinct’s story began ZK light clients ZK circuits SP1 and the RISC-V instruction set The prover network Use cases ZK rollups and commoditizing ZKPs Incentivizing provers Succinct’s business model Supported blockchain applications Bottlenecks in ZK adoption Succinct metrics SP1’s competitive advantage and future roadmap The real world impact of verifiability

Episode links:

Uma Roy on X Succinct on X

Sponsors:

Gnosis: Gnosis builds decentralized infrastructure for the Ethereum ecosystem, since 2015. This year marks the launch of Gnosis Pay— the world's first Decentralized Payment Network. Get started today at - gnosis.io Chorus1: Chorus1 is one of the largest node operators worldwide, supporting more than 100,000 delegators, across 45 networks. The recently launched OPUS allows staking up to 8,000 ETH in a single transaction. Enjoy the highest yields and institutional grade security at - chorus.one

This episode is hosted by Friederike Ernst.

Tuesday, 10. December 2024

bankless

DeSci: Transforming Research with Decentralized Science

Learn how Decentralized Science (DeSci) unlocks collaboration, transparency, and innovation in research through blockchain and open science principles.
Learn how Decentralized Science (DeSci) unlocks collaboration, transparency, and innovation in research through blockchain and open science principles.

MARA’s Bitcoin Holdings Near $4 Billion with Latest Acquisition

MicroStrategy isn't the only corporate bitcoin buyer out there.
MicroStrategy isn't the only corporate bitcoin buyer out there.

Fuel Labs Unveils FUEL Token to Power its Modular Execution Ecosystem

FUEL is on the way.
FUEL is on the way.

The Onchain Components of Crypto AI Agents

Examining how the most popular crypto AI agents make use of their onchain elements.
Examining how the most popular crypto AI agents make use of their onchain elements.

Magic Eden Launches ME Token

Claims go live for the NFT marketplace's native token.
Claims go live for the NFT marketplace's native token.

Monday, 09. December 2024

bankless

How to Earn on Stablecoins with Fluid Lending

Instadapp's Fluid protocol is offering some juicy stablecoin yields.
Instadapp's Fluid protocol is offering some juicy stablecoin yields.

Crypto Rallies Against SEC Commissioner's Potential Re-Nomination

Armstrong looks to rally Senate Banking Committee against anti-crypto SEC commissioner.
Armstrong looks to rally Senate Banking Committee against anti-crypto SEC commissioner.

MicroStrategy Bets Big Again on Bitcoin

MicroStrategy now owns more than 2% of the total bitcoin supply.
MicroStrategy now owns more than 2% of the total bitcoin supply.

Pudgy Penguins NFTs Surge in Value

Pudgy Penguins have flipped Bored Apes NFTs and briefly surpassed them in total market cap.
Pudgy Penguins have flipped Bored Apes NFTs and briefly surpassed them in total market cap.

Zcash Foundation

Zebra 2.1.0 Release

The Zcash Foundation is pleased to announce the release of Zebra 2.1.0. This release includes some necessary updates post-NU6 activation. We are now verifying that V5 transactions in the mempool have the correct consensus branch ID before returning a transaction ID, which would indicate a successful insertion in the mempool, even though they would be […]

The Zcash Foundation is pleased to announce the release of Zebra 2.1.0. This release includes some necessary updates post-NU6 activation.

We are now verifying that V5 transactions in the mempool have the correct consensus branch ID before returning a transaction ID, which would indicate a successful insertion in the mempool, even though they would be eventually rejected by the block consensus checks. 

Similarly, Zebra also now returns an error when trying to submit transactions that would eventually fail some consensus checks (e.g. double spends) but would also return a transaction ID indicating success. 

The release also bumps Zebra’s initial minimum protocol version such that this release of Zebra will always reject connections with peers advertising a network protocol version below 170,120 on Mainnet and 170,110 on Testnet. Prior to this change, these connections would have been accepted until Zebra’s chain state reaches the NU6 activation height. While this is standard procedure in Zebra after a Zcash network upgrade, this change to the minimum protocol version is classified as a breaking change in Zebra.

In addition, the getblock RPC method has been updated to return some additional information such as the block height (even if you provide a block hash) and other fields as supported by the getblockheader RPC call.

You can see a full copy of the included changes in the v2.1.0 Release Notes on GitHub.


Sequoia

AI in 2025

The post AI in 2025 appeared first on Sequoia Capital.
AI in 2025: Building Blocks Firmly in Place Published December 9, 2024 By David Cahn 2024 was AI’s primordial soup year. In 2025, AI’s foundations are solidifying. Published December 9, 2024 By David Cahn

Last January, we compared ChatGPT to AI’s “Big Bang” and predicted that 2024 would be AI’s “primordial soup” year. The AI ecosystem was abounding with new ideas and potential energy. It was a ripe moment for new entrepreneurs. “There is much potential in the air, and yet it is still amorphous,” we wrote at the time. “Vision is required to convert it into something real, tangible and, ultimately, impactful.”

Today, the AI ecosystem has hardened. There are now five “finalists” in the race for biggest model. Nvidia’s highly anticipated Blackwell chip is shipping this month. Data centers, many of which were planned in early 2024, are entering full-on build mode. TSMC is building new fab capacity and Broadcom is working on custom AI chips: the entire supply chain has shifted into high gear. In every industry from healthcare to law to insurance, new AI initiatives are kicking off. 

If 2024 was the primordial soup year for AI, the building blocks are now firmly in place. AI’s potential is now congealing into something real and tangible—embodied by physical data centers that are rising up all across America from Salem, PA to Round Rock, TX to Mount Pleasant, WI. If 2024 was about new ideas abounding, 2025 will be about sifting through those ideas to see which really work. 

Below, we offer three predictions for the year ahead:

1. LLM providers have evolved distinct superpowers—this should lead to incremental differentiation and a contested pecking order in 2025

In 2024, the big model race was all about reaching parity with GPT-4. Five companies achieved this objective (or got close enough) and thus became “finalists:” Microsoft/OpenAI, Amazon/Anthropic, Google, Meta and xAI. Others dropped out of the race, most notably, Inflection, Adept and Character.

To get to GPT-4 quality, these companies ran roughly the same playbook: Collect as much data as possible, train on as many GPUs as possible and refine the pre-training/post-training architecture to maximize performance. With talent moving fluidly across organizations in 2024, few trade secrets remain.

As each player prepares for the next round of LLM scaling—which will likely involve another 10x increase in compute scale—the labs are evolving differentiated superpowers. They have “chosen their weapons,” so to speak, for the battle ahead. In 2025, these distinct strategies should lead to disparate outcomes, with some players pulling ahead and others falling behind. 

Google – Vertical Integration: Google’s advantage going into 2025 is vertical integration. Google is the only player with its own first-class chips: TPUs have a chance to give NVDA GPUs a run for their money in 2025. Google also builds its own data centers, trains its own models and has a very strong internal research team. Unlike Microsoft and Amazon, which have partnered with OpenAI and Anthropic, respectively, Google is going for the prize by owning every part of the value chain. OpenAI – Brand: We’ve seen a handful of surveys on unaided awareness of ChatGPT vs. Claude vs. Gemini, and it’s not close. OpenAI has the strongest brand in AI, bar none. This has resulted in the strongest revenue engine among the big AI players, with OpenAI reportedly north of $3.6B in revenue. If success in AI ends up hinging on consumer mindshare and enterprise distribution, OpenAI may continue to widen the gap between itself and rivals.  Anthropic – Talent: 2024 saw a big exodus of research talent from OpenAI, paired with inflows to Anthropic. With Jon Schulman, Durk Kingma and Jan Leike all leaving OpenAI for Anthropic in 2024, Anthropic has been gaining mindshare with research talent. The company also made some big executive hires, adding Instagram co-founder Mike Kreiger as Chief Product Officer. With GPT-3 inventor Dario Amodei at the helm, Anthropic has carved out its position as a favored destination for AI scientists.  xAI – Data Center Construction: We wrote in our piece on “Steel, Servers, and Power” about the importance of data center construction to the next phase of the AI race. With xAI bringing on their 100k GPU Colossus cluster in record time, the company is now the pace setter for data center scaling. The next milestone for xAI and its rivals will be a 200k cluster and then a 300k cluster. If it ends up being true that “scale is all you need,” xAI is well-positioned to continue its rapid ascent.  Meta – Open Source: Meta, which already has strong distribution advantages through Instagram, WhatsApp and Facebook, has chosen to go all-in on open source. Meta is the only big player in the pack taking this approach. Meta’s Llama models have ardent fans and the closed-source vs. open-source debate continues to rage on. If frontier advancements start to slow down, Meta will be well-positioned to leverage its open-source models for rapid dissemination of these capabilities.

In the big model race, rigorous execution lies ahead. The competitive landscape and posture of each of the players has solidified. In 2025, we will see which of these strategies prove prescient—and which prove ill-fated.

2. AI Search is emerging as a killer app—in 2025, it will proliferate

Ever since ChatGPT came out, we’ve all been on the hunt for AI’s killer use case. What persistent new user behaviors will stand the test of time?

In 2024, many different applications were tested from AI girlfriends to AI rental assistants to voice agents and AI accountants.

One use case that we think will proliferate in 2025 is AI as a search engine. Perplexity has been on a tear since its launch, reaching 10M monthly active users. OpenAI launched ChatGPT Search in October, an expansion of its existing search-like capabilities. The Wall Street Journal ran a piece recently headlined “Googling is for Old People.” Ironically, this challenge to Google comes just as the company is mired in anti-trust litigation

AI search is a powerful re-invention of a technology that rapidly became the internet’s killer app. Internet search is a navigational technology based on indexing the web. AI search is an informational technology based on LLMs that can read and semantically understand knowledge. For white collar workers, this will be a huge boon. 

AI search may fragment what is currently a monolithic market. It’s possible to imagine a world where every profession has its own specialized AI search engine—analysts and investors now default to Perplexity, lawyers will use platforms like Harvey, and doctors will use solutions like OpenEvidence. Along these lines, one can think of Midjourney as search over the “pixelverse,” Github Copilot as search over the “codeverse,” and Glean as search over the “documentverse.” Unlike in traditional search, AI search can go much deeper semantically, and is therefore an order of magnitude more powerful, resulting in significant incremental productivity gains.

The text response as a product surface area is deeper than first meets the eye. Not all text responses are created equal. We think LLMs allow for real product differentiation across multiple dimensions, and that founders will build unique product experiences around these capabilities, targeted at specific customer audiences:

Intent Extraction: Tightly matching the response to the user’s intent becomes easier with domain specialization. For example, a doctor and patient asking the same question will want to see different types of responses. Proprietary Data: Unique datasets like case law for lawyers, financial data for analysts or weather data for insurance underwriters will be important in white collar domains. Getting the answer right is table stakes in a business context.  Formatting: How results are presented to the user, for example how verbose or concise the response is, use of bullets, use of multi-modal content, reference to sources. Accountants tend to digest information differently than journalists, for example.  Interface Design: Code search needs to live in the IDE. Accounting policy search needs to live in your accounting SaaS platform. Semantic search benefits from context around the user’s existing workflow and data. Different domains will require different interfaces.

New domain-specific AI search engines will map themselves as tightly as possible onto the “theory of mind” of their target personas. Doctors, lawyers and accountants don’t think alike. As we become experts in a given domain, our patterns for extracting knowledge and making decisions begin to diverge. Doctors confront medical literature, lawyers confront case law, investors confront earnings reports. The way we dissect, analyze and make decisions on this knowledge is different in each domain.

There is likely to be a bifurcation between consumer and enterprise. In our capacity as consumers, we all have roughly the same needs, hence the smashing product-market fit of ChatGPT. However, in our capacity as professionals, we have different needs. It is fairly straightforward to imagine that every knowledge worker will have at least two AI search engines they use daily—one for work and one for everything else.

3. ROI will remain problematic and CapEx will begin to stabilize in 2025

We’ve written about AI’s $200B question and AI’s $600B question, which explore the tremendous capital expenditure coming out of the Big Tech companies, and the lack of commensurate end-user revenue to derive a payback for these cash outlays.

Going into 2024, the Big Tech companies were nervous about AI being a threat to their oligopoly in the cloud business. As we wrote in the “Game Theory of AI CapEx,” these companies felt they had no choice but to spend aggressively to ensure their continued dominance in an AI future. If they didn’t spend, others would, and they’d fall behind.

Entering 2025, the picture has changed dramatically. Big Tech companies have their arms locked firmly around the AI revolution. Not only do they control the vast majority of the data centers that power AI, but they own significant equity stakes in the big model companies, and they are among the largest backers of new AI startups. 

With Big Tech feeling more confident, we think 2025 will be a stabilization year for AI CapEx. If 2024 was a scramble to sign deals for land and power, 2025 will be an execution year. Shovels are in the ground, and these companies will be focused on completing their new projects on-time and on-budget. They will then need to sell this installed capacity to customers and work with enterprises to help them achieve success with their new AI capabilities. 

After roughly doubling CapEx levels since pre-ChatGPT, we may see some normalization in 2025. The latest CapEx figures released in Q3 suggest that the trendline is already starting to stabilize inside of Microsoft and Google. Amazon and Meta are still ramping, but may reach steady state in early 2025. (While Meta looks flat in the chart below, the company has issued guidance for increased CapEx in Q4).

Source: Earnings transcripts, public filings

Oligopolistic dynamics are likely to set-in as well. Each of the Big Tech companies follows their rivals closely. If it looks like the industry is on a glide path to a “new normal,” that may be welcome news for all. It would provide further support for a new equilibrium in 2025 vs. continued ratcheting of spend.

As new data center capacity comes online in 2025, AI compute prices should continue their epic decline. This is great news for startups and should incentivize net-new innovation. As we’ve pointed out in the past, startups are primarily consumers of compute vs. producers of compute, and so they benefit from overbuilding. The Big Tech companies are effectively creating a subsidy that will accrue to the entire AI ecosystem.

Many comparisons have been made between the Clouds and the railroad oligopoly of the Gilded Age. If data centers are indeed the rails of the digital economy, then the new AI rails will be securely in place by the end of 2025. The question remains what freight will ride on those rails, and how we can leverage this new technology to create value for customers and end-users.

Here’s to a year of leveraging AI’s building blocks to create incredible new capabilities that will change people’s lives.

If you are building a visionary company in AI, I’d love to hear from you. Please reach out at dcahn@sequoiacap.com

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Friday, 06. December 2024

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Weekly Recap: BTC breaks $100K, ETH breaks $4K.
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