Blog

Singapore, Singapore, March 12th, 2024, Chainwire

In an unprecedented leap forward for the blockchain industry, zkLink is proud to announce the public mainnet launch of zkLink Nova, the industry’s first Aggregated Layer 3 zkEVM rollup network based on zkSync’s ZK Stack & zkLink Nova. zkLink Nova unifies liquidity and assets from Ethereum and Layer 2 rollups onto one interoperable platform, providing developers with a zkEVM-compatible decentralized application (dApp) deployment through the ZK Stack Hyperchain.

Being an Aggregated Layer 3 Rollup, zkLink Nova addresses the three major roadblocks that have restricted scaling across the Ethereum ecosystem – liquidity fragmentation across Layer 2 blockchains, complexities associated with multi-chain dApp development, and poor user experience due to the isolation of assets and applications across chains.

Layer 2 Ecosystem Collaboration

The cornerstone of the zkLink Nova mainnet is its comprehensive integration with leading Layer 2s, including Arbitrum, Linea, Manta, Mantle, and zkSync. zkLink Nova acts as a connective layer between the Layer 2 Rollups, enhancing liquidity and asset transfers across the Ethereum ecosystem.

“By leveraging the strengths of zkSync’s ZK Stack & Linea’s ZK Proof-verification capabilities, Nova is stack agnostic and is able to connect to any ZK & OP Layer 2,” said Vince Yang, CEO and co-founder of zkLink. “This represents a major milestone for both zkLink and the wider Ethereum ecosystem as DApps will have access to broader liquidity and more users, potentially unlocking exciting new use cases for their existing L2 assets.”

The integration of Layer 2s with zkLink Nova underscores a shared vision for a more unified and efficient blockchain ecosystem. zkLink Nova’s role in pioneering the Aggregated Layer 3 concept is the answer to the Layer 2’s dire need for more interconnection among ecosystems. The general purpose architecture in zkLink Nova’s Aggregated Layer 3 enables developers to easily build, deploy and scale dApps using Solidity smart contracts, saving them time and resources.

Securing the Future of Blockchain with ZK Proofs

Nova’s Aggregated Layer 3 environment removes bridges and gas fees from the equation, reducing security risks and improving user experience. By utilizing ZK Proofs in its architecture, every transaction on Nova undergoes verification before it is processed, giving the zkLink Nova mainnet Ethereum grade security.

“The Nova Aggregated Layer 3 mainnet utilizes Linea as the primary rollup for ZK proof-verification through zkLink’s Nexus settlement layer technology. Being secure, EVM-equivalent and cost effective, Nova leverages Linea’s ZK-Rollup for faster multi-chain state synchronization and hard finality that settles on the Ethereum network,” said Linea Product Lead, Declan Fox. 

For DApp users, zkLink Nova removes complexity and simplifies asset transfers across Ethereum and Layer 2s while keeping transactions secure. DApp users can directly deposit their assets from Ethereum or any of the integrated Layer 2s into zkLink Nova’s unified platform to transact seamlessly or interact with its ecosystem of dApps, greatly enhancing the user experience for all.

The mainnet launch of zkLink Nova is the first of its kind in solving Ethereum’s liquidity fragmentation problem while simplifying multi-chain complexities. By uniting major Ethereum Layer 2s together, zkLink Nova is taking the lead towards advancing blockchain of value, realizing a unified and interoperable rollup ecosystem with greater capital efficiency for all users.

About zkLink

Dedicated to unifying liquidity and scaling the Ethereum ecosystem, zkLink is pioneering Aggregated Rollup solutions to bridge the ecosystem siloes within the blockchain space. By facilitating a more interconnected, efficient, and accessible digital asset environment, zkLink is driving forward the vision of a unified and decentralized blockchain ecosystem without boundaries.

About zkLink Nova

zkLink Nova is the pioneering Aggregated Layer 3 Rollup zkEVM network that brings unprecedented liquidity and asset aggregation to Ethereum and its Layer 2 Rollups. Built with ZK Stack and zkLink Nexus, it leverages ZK Proofs to enhance scalability and security. Developers enjoy an open platform for deploying Solidity smart contracts and instantly tapping into integrated networks like Arbitrum and zkSync. Nova simplifies DeFi by presenting a unified ecosystem for users and DApps, promoting a seamless blockchain experience.

Links

Website, Twitter, Discord, Telegram, Blog, Whitepaper

Contact

Jake Morakis
zklink@mgroupsc.com

London, United Kingdom, March 11th, 2024, Chainwire

Bitcoin has made history and cleared a new all-time high of $71K, the knock-on effect being a huge increase in the global crypto market cap that is now pushing toward the $2.7 trillion mark.

Riding the current bitcoin wave, the first-ever presale on the Bitcoin network, Bitcoin Dogs, is now 5 days away from closing on the 15th of March, with over $9.7M in funds raised since its recent debut on the 14th of February.

With experts suggesting evidence that a bull run began in 2023, there is optimism surrounding the cryptocurrency market among investors. The Bitcoin ETF approval in January, the halving in April, talk of an ETH ETF approval later this year, and suspected Fed rate cuts are forming an optimal wave of bullishness — and the Bitcoin Dogs team hopes that a first-of-its-kind coin such as 0DOG is cleverly poised to ride this wave as 2024 progresses.

0DOG is available to buy on the Bitcoin Dogs website.

BTC Sets the Scene for Bitcoin Dogs’ Launch

2024 is proving to be interesting, to say the least. The Bitcoin Dogs team attributes part of the project’s success to its uncanny timing.

The bull market began snowballing at the start of the year, fueled by January’s ETF approvals. The SEC passed 11 spot applications, causing large financial institutions such as Blackrock and Fidelity to begin accumulating BTC in unprecedented quantities — Blackrock’s fund has now surpassed $11.5 billion in total inflows.

This was further compounded by other sources of institutional buy pressure beyond the ETFs, though. Michael Saylor’s MicroStrategy doubled down on its long-term BTC accumulation strategy, acquiring $100 million in new debt to make Bitcoin purchases last week. MicroStrategy now owns more BTC than any other public company, with a stash worth over $13 billion at current prices.

Saylor recently met with Jeff Bezos, with commentators suspecting a Bitcoin purchase by the Amazon boss. Bezos recently sold $8.5 billion of AMZN shares, and rumors are circulating that the sale was made to fund a BTC acquisition. Bezos would join Saylor and Elon Musk in the club of BTC-backed billionaires if a purchase is confirmed.

Finally, the Federal Reserve is expected to cut interest rates as the year goes on. Rate cuts mean that investors get worse returns on “risk-off” investments like bonds, causing many to look to “risk-on” assets like Bitcoin for greater gains. The availability of cheap credit typically leads to inflation as well, and Bitcoin is frequently bought as an inflation hedge. Both of these forces would likely stir demand for Bitcoin, as they did during the 2020 bull run.

Ordinals: Bitcoin Dogs’ Second Wind

The Bitcoin Dogs team suggests that the project’s proximity to Bitcoin places it in an advantageous position to benefit from spillover gains associated with a historic BTC rally. However, they also highlight that there are additional factors within the Bitcoin ecosystem that could further increase the spotlight on 0DOG.

The project utilizes two cutting-edge Bitcoin technologies: BRC-20 and Ordinals NFTs. The Ordinals protocol, which went live in 2023, allows NFTs and custom tokens to be issued and secured on the Bitcoin blockchain, much like on Ethereum or Solana.

0DOG is one such token and is the first BRC-20 to ever launch via an ICO. Buyers will be hoping that 0DOG follows in the footsteps of other BRC-20 tokens, many of which have enjoyed considerable rallies. 1CAT, the token of the Bitcoin Cats project, saw a trading volume of over $50 million quickly after launch, and Ordinals tokens have seen double-digit gains during Bitcoin’s recent pump.

Thanks to Ordinals, Bitcoin NFTs are also becoming more popular than their Ethereum counterparts. Given this hype magnet, the team behind Bitcoin Dogs is optimistic that Bitcoin Dogs could very well become the next viral collection to dominate the market, especially considering the size of their community — the official X account has over 100k followers before public listings. The team is optimistic this could further propel 0DOG to new heights.

There are less than 5 days left in the Bitcoin Dogs presale, with a final presale price of $0.0404, after this period the coin will go public. Given the current market trends and forthcoming developments, Bitcoin Dogs may be an interesting opportunity for those who will be closely following the latest Bitcoin developments.

About Bitcoin Dogs

Bitcoin Dogs is breaking new ground in the Bitcoin ecosystem. For the first time ever, NFTs, gaming, and new token types come together to offer the first ICO on the original Bitcoin blockchain. The truly permissionless immutability of Bitcoin is being harnessed to create the 0DOG token, while a play-to-earn (P2E) gaming experience and NFT collection are being developed exclusively for 0DOG holders.

Users can find more information and how to purchase Bitcoin Dogs (0DOG) by visiting the website.

• Explore the “Whitepaper“
• Join the community and social media platforms

Contact

Bitcoin Dogs Team
Bitcoin Dogs
marketing@bitcoindogs.club

Grand Cayman, Cayman Islands, March 8th, 2024, Chainwire

Powered by Pravica, S3 will provide builders on the Sui blockchain with the opportunity to seamlessly launch native stablecoins without the complexities of smart contract development and currency management

S3.MONEY (S3), a stablecoin studio developed on top of the Sui blockchain, was officially announced today by Cairo-based blockchain startup Pravica in collaboration with Sui. S3, which stands for “Stablecoin Studio on Sui,” is set to revolutionize the global payment processing landscape by introducing a versatile and user-friendly solution for building and utilizing stablecoins on the Sui blockchain.

S3 offers a key utility designed for building customizable stablecoins directly on the Sui blockchain, which in its initial phase, enables issuers to create fiat-backed stablecoins without building the bespoke technological infrastructure typically required for smart contract development and currency management. S3 not only simplifies the process for existing stablecoin issuers, such as USDC and USDT, to integrate with Sui, but also facilitates the creation of bespoke stablecoin solutions tailored to meet specific regulatory requirements in various jurisdictions.

S3 also establishes an entirely new process for stablecoin management, offering a streamlined one-stop-shop experience through a straightforward interface. Stablecoin Studio on Sui provides intuitive, capable administration with role-based controls, enabling effortless configuration and management of stablecoins. The platform enhances treasury command with built-in proof-of-reserve functionality and seamless integration with on-chain oracles. Integrated KYC/AML features prioritize compliance, strengthening due diligence with qualified identity verification services.

Mohamed Abdou, Founder & CEO of Pravica, expressed his enthusiasm for S3 and Sui as a foundation for Pravica’s stablecoin creator. “Based on the adoption we are already seeing and our deep experience with international payment systems, we are convinced that stablecoins will revolutionize the global payments industry. We also believe that Sui offers the most capable platform for building robust and scalable decentralized utilities. Built on top of Sui, S3 poised to become a global utility for creating customized payment solutions utilized by millions,” he said.

Beyond empowering builders to craft their own stablecoins, S3 also comes with a cutting-edge payments app, Walletify, which serves as a closed-loop payment solution. Walletify allows users to seamlessly transact using the stablecoins created through the S3 utility. Walletify’s closed-loop architecture, building on Sui’s unique Move-based design pattern, ensures a secure and efficient payment experience for both merchants and users.

“The team at Pravica has done incredible work and built much needed financial tooling. Stablecoin Studio on Sui removes an immense hurdle for stablecoin issuers and is set to transform the world’s payment processing industry,” said Greg Siourounis, Managing Director of the Sui Foundation. “We are extremely gratified that they have chosen to build this revolutionary solution on Sui.”

Contact

Sui Foundation
media@sui.io

Toronto, Canada, March 8th, 2024, Chainwire

Conflux Network, the only regulatory compliant public blockchain in China, today announces its pivotal role in assisting the successful beta-testing of the Hong Kong Dollar (HKD)-backed stablecoin, AxHKD. Built by local fintech company AnchorX, the stablecoin will be launched on Conflux Network initially, followed by Ethereum.

Conflux will provide the underlying technology with its superior scalability, security, low latency and cost-effectiveness. With this launch, AnchorX envisions becoming the most trusted provider of digital currency solutions in Asia, empowering reliable and efficient global exchanges.

AxHKD, will be launched initially on the Conflux public blockchain, and utilizes world-class distributed ledger technology and robust cybersecurity measures. It ensures a 1:1 peg to the HKD, backed by high-quality liquid asset reserves. These reserves are protected by a segregated trust arrangement and held by regulated financial institutions in Hong Kong. OKLink Trust, a strategic partner of AnchorX, provides the custodian services for the AxHKD issuance. 

AnchorX targets two primary applications for AxHKD. Firstly, as a catalyst for global payments, AxHKD enhances cross-border transactions between Hong Kong/mainland China and the global market. This is particularly beneficial for Belt and Road partners with less developed banking infrastructures. Secondly, AxHKD acts as a reliable fiat-on-chain instrument for virtual asset trading, paving the way for innovation in Real-World Assets and bridging the gap between traditional and digital assets in Hong Kong. 

The project is backed by Industry leaders from both the traditional finance and blockchain technology space including Hony Capital, a leading investment management firm in China overseeing over USD 16 billion in assets.

The announcement follows the recent initiatives by Hong Kong authorities to propose a regulatory regime for stablecoin issuers. On December 27, 2023, the Financial Services and the Treasury Bureau, in conjunction with the Hong Kong Monetary Authority (“HKMA”), released a Consultation Paper to gather public comments on the proposed legislation to regulate stablecoin issuers. This paper builds on the Discussion Paper released by the HKMA in January 2022 and the subsequent Conclusion Paper in January 2023.

Byron Wong, the Chief Compliance Officer at AnchorX, commented on the company’s unwavering commitment to meeting regulatory standards,  “Hong Kong has adopted one of the most proactive approaches to stablecoin regulation globally. We want to ensure that AxHKD tightly aligns with the proposed stablecoin standards. We will also explore applying for participation in the upcoming regulatory sandbox and hope to contribute our first-hand practical insights to the formation of a successful stablecoin regulatory regime.”

Fan Long, Founder of Conflux, commented “We’re thrilled to partner with AnchorX for the launch of AxHKD on Conflux Network. This collaboration represents a significant milestone in the fusion of traditional finance and the Web3 realm, enhancing the practicality of digital currencies for everyday transactions. AxHKD is poised to play a pivotal role in weaving the Hong Kong Dollar into the fabric of the Web3 ecosystem, driving innovation and financial inclusion.”

About Conflux

Conflux Network is a permissionless Layer 1 blockchain that connects decentralized economies across borders and protocols. It utilizes a hybrid PoW/PoS consensus mechanism to ensure a rapid, secure, and scalable blockchain environment. With Conflux, congestion is eliminated, fees remain low, and network security is enhanced.

As the leading regulatory-compliant public blockchain in China, Conflux offers a distinct advantage for projects seeking to enter the Asian market. The platform collaborates with renowned global brands and government entities in the region, driving blockchain and metaverse initiatives. Notable partnerships include the city of Shanghai, China Telecom, Little Red Book (China’s “Instagram”), McDonald’s China, and Oreo. Learn more: https://confluxnetwork.org/

About AnchorX

AnchorX is a Hong Kong-based fintech company with a vision to be the most trusted provider of digital solutions in Asia. Learn more: https://www.anchorx.org/ or https://twitter.com/AnchorX_Ltd

Contact

Melissa Tirey
melissa@shift6studios.com