Welcome to our recap of the major stories in the crypto world! There have been quite a few major stories, so here’s everything that happened:
2 new approvals by MAS ✅
Within this week, the Monetary Authority of Singapore (MAS) has granted 2 in-principle approvals for the Major Payment Institution License offering Digital Payment Token services.
The 2 firms include Coinbase,
Hello Singapore 🇸🇬
Excited to announce we have received an In-Principle Approval as a Major Payment Institution in the Lion City! This is an important step in our mission of being the most trusted crypto platform in Asia Pacific.https://t.co/pc2pkTl7yG
— Coinbase (@coinbase) October 11, 2022
https://t.co/0DZyULb31t has secured in-principle regulatory approval in Singapore to offer Digital Payment Token services to institutional and HNW investors, project teams and operators in the crypto ecosystem.
⬇️Read more on our blog ⬇️https://t.co/m5Hg7jLZlr
— Blockchain.com (@blockchain) October 12, 2022
It is interesting to note that Coinbase stated its intentions to expand their “full suite of retail products”, even with the impending frictions that MAS is set to place on crypto retail investors.
Meanwhile, Blockchain.com didn’t mention anything about retail investing, and seems to be focusing more on institutional and high-net-worth investors.
Uniswap on StarkNET 🔥
Uniswap, the second-largest decentralised exchange (DEX) by Total Value Locked (TVL), has been successfully warped to StarkNET.
— Nethermind (@nethermindeth) October 8, 2022
StarkNET is one of the competitors to build a zkEVM, or zero-knowledge (zk) Ethereum Virtual Machine (EVM).
zkEVMs are considered to be the ‘holy grail’ of Layer-2 scaling on Ethereum, which provides the most benefits.
StarkWare, the company behind StarkNET, has come up with a Warp plugin that allows code on Solidity to be converted to Cairo.
While the plugin is still under development, this means that users could use the Uniswap DEX on StarkNET in the future, which should result in lower transaction fees!
zkEVM wars wage on 👊
Apart from StarkNET, other companies are racing to build the first zkEVM.
zkSync will launch zkSync 2.0 on mainnet on 28th October, featuring a fully functional zkEVM.
As we get closer to zkSync 2.0’s mainnet launch, we’re delighted to see the number of projects joining the zkEVM future by launching on our platform. Here are another five updates from our fast-growing ecosystem. #jointhemission
— zkSync (@zksync) October 10, 2022
Meanwhile, Polygon is not too far behind, as they have launched their zkEVM Public Testnet as well.
The future of Ethereum is #onPolygon.🦄💫
When we unveiled Polygon #zkEVM in July, it was a milestone not only for Polygon, but also for Ethereum & Web3.
We're proud to announce Polygon zkEVM Public Testnet, the world's 1st open source zkEVM network!https://t.co/bfrFr8XwK8
— Polygon – MATIC 💜 (@0xPolygon) October 10, 2022
There is no update on the date of the mainnet launch yet, but given the resources available to the Polygon team, we may be able to see a fully-fledged zkEVM from them soon.
All of these are great innovations to further scale the Ethereum network, and this could finally mean the end of high gas fees!
BNB Chain Updates Code 👨💻
The BNB Chain has completed a hard fork upgrade (Moran) to re-enable cross-chain transfers between the BNB Beacon and Smart Chains.
BNB Smart Chain has been upgraded, further details here ⤵️ https://t.co/SCbkLsyK3z
— BNB Chain (@BNBCHAIN) October 11, 2022
This patch fixes the bug on the BSC Token Hub which allowed a hacker to steal 2 million BNB tokens from this cross-chain bridge.
If you’d like to know a full breakdown of the BNB Chain hack, you can refer to our article here.
OpenSea is now on AVAX 🔺
After expanding to Arbitrum and Optimism, OpenSea has enabled the trading of NFTs on the Avalanche network.
— OpenSea (@opensea) October 11, 2022
OpenSea now allows you to trade NFTs across 7 different networks, including EVM-compatible ones (e.g. Ethereum, Klaytn and Polygon), and non-EVM-compatible networks like Solana.
Our Krystal Mobile Wallet allows you to store and view NFTs across these networks (with Optimism coming soon).
What’s more, you can connect to OpenSea on the mobile app with our DApp Browser as well!
Google Supports Crypto? 🤔
As blockchain technology becomes more mainstream, tech giants have started to embrace it more.
Google has partnered with Coinbase to allow companies to use crypto to pay for its cloud services.
Google and Coinbase partner on plan to offer crypto payments for cloud serviceshttps://t.co/rrNRYgVGnG
— The Block (@TheBlock__) October 11, 2022
Furthermore, you can paste your Ethereum address on Google, and it will bring up your ETH balance directly from Etherscan.
Well done, blockchain address is now available in Google Search! pic.twitter.com/7IuKv1gddR
— Han⚡️ (@hhua_) October 11, 2022
This could mark Google’s push into embracing Web3 technology.
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