Odaily News Plasma, a cryptocurrency startup backed by Peter Thiel, announced the launch of the "HotStuff Inspired Consensus", which intends to support high-frequency transfers of global stablecoins. The Plasma blockchain is built specifically for the stablecoin Tether and is also a Bitcoin sidechain designed to be fully compatible with the Ethereum Virtual Machine (EVM). It is reported that the HotStuff blockchain consensus mechanism simplifies the process of leadership nodes proposing decisions and validator nodes confirming, which can reduce delays and improve efficiency. (CoinDesk)

<p>Odaily News Plasma announced on the X platform that USD₮0 will be supported on the first day of the Plasma mainnet launch, making Plasma seamlessly connected to the $141 billion USD₮ on multiple blockchains such as Ethereum, Tron, TON, Arbitrum, etc. USD₮0 is the core infrastructure of Tether stablecoin, which aims to provide cross-chain deployment and secure transfer solutions to achieve zero-fee transfers.<br/></p>

<p>Odaily News Stablecoin company Plasma announced that it has completed a $24 million financing round, led by Framework Ventures, with participation from cryptocurrency exchange Bitfinex, venture capitalist Peter Thiel and Tether CEO Paolo Ardoino.</p>

Odaily News Plasma has completed a $3.5 million financing round, led by Bitfinex, with participation from Christian Angermayer and venture capital firms Split Capital, Anthos Capital, Karatage and Manifold Trading.

Odaily News The social L2 project Cyber announced that it has officially launched its mainnet and is open to developers to create applications that change the way people connect, create, monetize and share the value they create. Developers can start building by accessing the official documentation. In conjunction with the launch of L2, which expands the focus of Web3 beyond finance, CyberConnect will rebrand as Cyber and combine on-chain social protocols and developer-centric products, while spinning off Link3 as an independent brand. In order to meet the unique needs of social applications, such as low fees, high TPS, and seamless Web2-style user experience, Cyber integrates Optimism&#39;s OP Stack and dedicated features developed by its team, including native AA, Passkey and Webauthn authentication, and customized infrastructure protected by EigenLayer&#39;s Active Verification Service (AVS). Based on the OP Stack, Cyber has joined the Optimism superchain, which will allow users of other chains in the ecosystem to access social data networks and applications on Cyber, embedding social functions in a wider ecosystem while granting Cyber access to its entire on-chain economy and user base. As part of the Hyperchain, Cyber will give back a portion of the revenue generated by the sorter to the Optimism Collective. In addition, through the partnership between the two parties, AltLayer will manage the technical release, ongoing management, operation and future upgrades of rollup. With the help of AltLayer, Cyber became one of the first OP Stack Chains to deploy Plasma Mode to the mainnet.

Odaily News Optimism posted on the X platform that L3 built with OP Stack can now join the Superchain. L3 can build on OP Stack and share revenue with Optimism Collective, thereby accessing the Superchain Builder Network and being eligible for Retro funding, airdrops, and growth activities. In addition, to support L3 builders, OP Stack will launch 2 key features: custom Gas tokens and Plasma Mode.

Odaily News In his reply to netizens on the X platform, Vitalik said that the focus of Plasma is not to prevent invalid/unusable state transitions, but to allow users with valuable assets to use the previous (valid and usable) state to exit when this happens, in a way that has self-consistent rules to prevent double exits of any assets. Last November, Vitalik published his latest article, in which he proposed to transform Plasma with new technologies. In the article, V God said that Plasma has undergone many iterations since it was first proposed in 2017, and is now facing new developments. This technology allows all data and calculations (except deposits, withdrawals, and Merkle roots) to remain off-chain, greatly improving scalability. However, due to the high cost of client data storage and the inability to be generally applicable to applications other than payment, Plasma has gradually been replaced by rollups technology. Now, the emergence of validity proofs (such as ZK-SNARKs) has allowed Plasma technology to be reconsidered, especially in the field of payment. This new Plasma chain will run EVM, and although the security guarantee will not cover all users, it can still ensure the security of most assets in practice. In addition, there are challenges in extending Plasma technology to the field of fungible tokens, such as dealing with complex EVM applications.

Odaily News EthHub co-founder sassal.eth posted on the CryptoKitties came along, causing Ethereum fees to go up, and the mempool took a few days to empty because we didn’t have EIP-1559 at that time. After that, during the 2018/2019 bear market, fees dropped a little, but mostly Ethereum users knew this was temporary, so they continued working on scaling (via Plasma, which later evolved into rollups). Then DeFi season hit and fees went up so much that the ICO and CryptoKitties mania pales in comparison. This The point of the post is to illustrate that once demand for a chain is saturated, priority fees appear and it becomes a bidding war for block space. Do you know who will win? MEV bot, because they are willing to spend the most fees , capture some expected value through arbitrage, sandwich attacks, liquidation, mint sniping, etc. All of this can happen on any Layer 1, Layer 2, side chain, monolithic chain, modular chain - whatever you want to call it - —We as an industry should be addressing these issues as a collective, not as a group of divided tribes.”

1. OKX and Polygon jointly launch zkEVM Layer2 network Is the reason why Bitcoin spot ETF is blocked; 4. Vitalik’s new article proposes to use new technology to transform Plasma; 5. The incident of false declaration of spot XRP ETF became a police case and has been transferred to the Delaware Department of Justice; 6. ZachXBT: Lending There may be an exit scam in the protocol Lendora, which is closely related to multiple scam projects; 7. Slow Mist: Beware of phishing links disguised as wallet addresses; 8. 46.18 million BLUR monthly unlocked tokens have been transferred to Coinbase Prime; 9 . Disney cooperates with Dapper Labs to launch the NFT collection platform Disney Pinnacle; 10. The judge ordered the termination of the automatic stay process between FTX and BlockFi, and the two parties can negotiate for a settlement of claims; 11. BlackRock pointed out that its spot Bitcoin ETF faces stablecoin risks ; 12. The U.S. SEC initiated a total of 784 enforcement actions in fiscal year 2023, focusing on cryptocurrency; 13. Encryption exchange Blockchain.com completed a US$110 million Series E financing, led by Kingsway Capital; 14. zkEVM Kakarot completed the second round of financing, led by Stake Capital and LongHash Ventures; 15. Optimism has activated the Canyon hard fork on the test network.

Odaily News Vitalik published his latest article, in which he proposed to use new technologies to transform Plasma. Buterin stated in the article that Plasma has gone through many iterations since it was first proposed in 2017, and is now facing new developments. This technology allows all data and computation (except deposits, withdrawals, and Merkle roots) to remain off-chain, greatly improving scalability. However, due to the high cost of client data storage and the inability to be generally applicable to applications other than payment, Plasma was gradually replaced by rollups technology. Now, the emergence of validity proofs (such as ZK-SNARKs) has caused Plasma technology to be reconsidered, especially in the payment field. This new Plasma chain will run EVM, and although security guarantees will not cover all users, in practice most assets will be safe. In addition, there are challenges in promoting Plasma technology into the fungible token space, such as handling complex EVM applications.