Blocker Weekly: Why DeFi has become the moat of Ethereum; Compound mining will open Pandora's box?

On June 8th, the China Shanxi Government Procurement Network released the "Single Source Publicity of the Underlying Infrastructure Construction Project of the Changzhi Blockchain Public Chain". The content shows that Shanxi Zhiju Chain Technology Co., Ltd. purchased from a single source for the underlying infrastructure construction project of the Changzhi blockchain public chain. The project budget is 50 million yuan, and the proposed supplier is Xinji (Shanxi) Technology Co., Ltd. . The overall construction goal of the project is to build a blockchain infrastructure covering the city, realize the trinity blockchain basic services of government affairs, industry and finance, and create a thousand The billion-level blockchain industry provides the foundation and provides blockchain basic services for further building a trillion-level distributed business ecosystem covering the whole country and the world.

On June 8, the People’s Daily Overseas Edition published an article stating that at present, China is in the stage of accelerating research and development of digital currency, and there are still a series of technical problems that need to be resolved. In the future, with the increasing acceptance and credibility of the central bank's digital currency, digital currency should establish an appropriate proportional relationship with sovereign currency and gold reserves.

3. European Central Bank executive member Schnabel: ready to explore digital currency and other innovations

On June 9, according to news from Jinshi, European Central Bank executive member Schnabel said that cash is still very popular in the euro zone, but there are some differences among member states. We are always ready to explore innovations such as digital currencies, but have no intention of giving up cash.

On June 10, according to CoinDesk, Dante Disparte, director of policy and communication of the Libra Association, said that Libra's efforts have undoubtedly triggered a "space race", especially in terms of CBDC. According to the latest white paper, Libra hopes that these CBDCs can be directly integrated with the Libra network, eliminating the need for the Libra network to manage related reserves, thereby reducing credit and custody risks.

5. Shenzhen established the first "Blockchain Standardized Testing Workstation"

According to Nanfang.com, on June 11, the 4th China Blockchain Development Competition and National Blockchain Standards and System Testing Standard Guangdong held by Shenzhen Electric Standard Testing Technology Co., Ltd. and Shenzhen Qianhai Digital Trade Technology Service Co., Ltd. The seminar was held in Qianhai, Shenzhen. At the same time, Shenzhen officially established the first "Blockchain Standardized Testing Workstation". According to reports, the workstation will actively apply for the Shenzhen blockchain standard testing public technology platform, and provide testing-related technical services based on national and international standards for blockchain products across the country.

6. India is seeking to introduce a law to ban the use of cryptocurrencies

On June 12, Economictimes reported that India is seeking to introduce a law banning the use of cryptocurrencies, as the government believes that the legal framework is more effective than the RBI circular in this regard. If the law is similar to previous proposals, it would deal a blow to investors, exchanges and entities that trade virtual currencies such as bitcoin, experts said. Amit Maheshwari, partner at AKM Global, said that if passed in its current form, it would completely destroy the crypto industry in India. He hoped the government would engage in stakeholder consultations and not continue the bill in its current form.

7. Putin urges lawmakers to speed up deployment of encryption and blockchain sandboxes

On June 12, according to Cryptonews, Russian President Vladimir Putin hopes that his cabinet will speed up the deployment of encryption and blockchain sandboxes to avoid economic recession. Russia’s latest draft crypto bill — which proposes a crackdown on some crypto and is favored by the central bank — will ease as the country’s Ministry of Economic Development opposes an industry-disrupting ban, and the bill may not be released “within a year,” industry sources say. passed in parliament.

1. Why does DeFi become the moat of Ethereum?

It is no accident that Ethereum embarked on the path of DeFi. From the perspective of the historical development of Ethereum, a large number of diversified token assets in the IC0 era were deposited on the single chain of Ethereum, resulting in strong interoperability. At the same time, the rich stable currency system of Ethereum meets the basic financial needs of users such as asset mortgage and peer-to-peer lending. The on-chain assets and off-chain assets in the Ethereum system are combined like "Lego" building blocks, forming its DeFi ecological barriers.

2. How to introduce Bitcoin into Ethereum in a decentralized way: understand tBTC asset cross-chain solutions and vulnerability remediation

Among the solutions to achieve cross-chain Bitcoin assets through decentralization, tBTC is the most attention-grabbing project in the near future. When BTC can migrate to the Ethereum network safely and without trust, it means that BTC can enjoy Turing's complete smart contracts, and there is more room for imagination. How does tBTC achieve cross-chain Bitcoin assets in a safe and decentralized manner? How are the vulnerabilities fixed after the mainnet goes live?

3. The three major ecological stablecoins of Ethereum, Polkadot, and Cosmos have made a big start

Stablecoins are the Holy Grail. Most people cannot participate in centralized stablecoins. Asset-synthetic stablecoins are the only chance for most people to seize the Holy Grail of stablecoins. This article compares the development status of the three major ecological stablecoins, Ethereum, Polkadot, and Cosmos, to help you better grasp the development opportunities of stablecoins.

1. Compound’s governance token will open the Pandora’s Box of DeFi

Although the utility of COMP is designed for governance, it is certainly an incentive design. With COMP tokens, even Compound borrowers can turn a profit! This incentive is so strong it will undoubtedly drive tremendous growth. Unfortunately, such an incentive design will inevitably lead to illusory growth like FCoin's "transaction-as-mining". And it will likely lead to centralized governance, which goes against Compound's original vision or philosophy of a decentralized protocol.

2. One article to understand the latest data of the stablecoin network

In this post, we'll look at network data for stablecoins and try to understand how their usage varies across different networks and issuance platforms. More specifically, we'll look at Tether (Omni, Ethereum, and Tron versions), Paxos, USDC, TrueUSD, Gemini Dollar, HUSD, Binance USD, and USDK.

3. Introduction to digital asset quantification: Arbitrage logic of three mainstream quantitative strategies

In a sense, digital assets can be defined as general equivalents. In terms of financial attributes, it is easy to get through with the financial derivative model of legal currency. Therefore, various regular and current wealth products of digital assets are gradually emerging. How to make stable profits in the digital asset industry through traditional financial methods? The most important thing is to quantify the transaction. This article will introduce what a quantitative strategy is, and three common methods among them.

Upvest plans to further develop the Ethereum gas fee prediction tool to help customers optimize transaction costs. Upvest will develop a transaction fee recommendation or estimation engine in the form of an API (Application Programming Interface) using machine learning technology. Upvest, which raised $7.8 million in Series A funding in December, aims to help more companies tokenize financial assets such as real estate and private equity through the blockchain.

In addition, the two companies have also launched a three-year collaboration, including the use of Coil's network monetization technology, focusing on monetization for contributors. Hacker Noon authors can add web monetization tags to their articles. Coil automatically transfers micropayments to the author's wallet based on when the user reads.

4. Molian Technology completed tens of millions of new financing, Langwen Capital and Wanxiang Blockchain participated in the investment