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Tokyo-based crypto investment firm Cryptogram Venture (CGV) has announced a significant investment in UniSat, an innovative Bitcoin wallet infrastructure. As CGV continues to foster growth and innovation within the blockchain ecosystem, this investment is poised to enhance the capabilities of Bitcoin’s infrastructure, particularly around the emerging Ordinals/BRC-20 protocol.

UniSat’s Market Impact and Technological Advancements

UniSat is carving out a strong position within the Bitcoin ecosystem as the world’s first open-source browser extension wallet supporting the Ordinals protocol. This places UniSat at the forefront of the Ordinals/BRC-20 ecosystem, with a current market share of 10% to 20% in terms of trading volume and time, as reported by Dune Analytics. The platform boasts approximately 800,000 weekly active users, demonstrating its substantial user base.

The recent infrastructure upgrade of UniSat is particularly noteworthy, with the capacity to handle 200,000,000 API queries daily. This impressive scaling is set to provide robust support for the forthcoming Binance and Bybit markets, suggesting significant potential for growth and increased market penetration.

CGV’s Role and Future Prospects

CGV founder Steve has emphasized the firm’s dedication to the technological advancement of blockchain infrastructure, particularly within the Bitcoin ecosystem. The investment firm understands the critical role wallets play as a gateway for users to interact with the crypto world, and thus, recognizes UniSat’s potential in shaping the future of Bitcoin’s infrastructure.

With Japan being a key player in the global cryptocurrency market, CGV’s strong presence and influence in the Japanese market are anticipated to drive UniSat’s growth both locally and internationally. CGV’s strategic investment in UniSat signifies its commitment to nurturing a new phase in the Bitcoin ecosystem.

About Cryptogram Venture (CGV)

Since its inception, CGV has invested in over 200 crypto projects and has been instrumental in incubating a licensed Japanese yen stablecoin, JPYW. CGV FoF, as a limited partner in several globally renowned cryptocurrency funds, has established a significant presence in the crypto investment landscape.

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Ethereum co-founder Vitalik Buterin has proposed a hard fork strategy. This preemptive measure is designed to protect user funds in the event that quantum computers become capable of breaking current cryptographic defenses.

The proposal, outlined in a discussion on the Ethereum Research forum, highlights the urgency of preparing for quantum computers’ ability to solve problems like the discrete logarithm, which underpins the security of many current cryptographic algorithms including those used by Ethereum.

The proposed hard fork would entail the following steps:

1. Reversion of all blocks following the detection of large-scale quantum attacks.
2. Disabling traditional externally owned account (EOA) transactions to prevent further vulnerability.
3. Introduction of a new transaction type for smart contract wallets, in line with the anticipated RIP-7560 standard.
4. Implementation of a new transaction type or opcode allowing users to submit STARK proofs, demonstrating the knowledge of a private preimage and a public address derived through approved hash functions. The user’s account code would then be replaced with a new, quantum-resistant validation code.

The conversation in the Ethereum community is informed by a range of expert inputs. One participant shared a visual aid to help understand the proof statement, while others discussed existing quantum-secure fallbacks for wallets and the integration of preimages into ECDSA signature nonces to create fail-stop signature schemes.

Some community members have cautioned that if quantum computers capable of cracking Ethereum wallets are already in malicious hands, it might be too late to differentiate between legitimate owners and attackers. They suggest that instead of relying on stateful post-quantum algorithms, Ethereum should use NIST standardized ones in hybrid mode with a classical algorithm, like combining Dilithium with ed25519. This would, however, increase block sizes due to the large signature and public key sizes of current post-quantum schemes.

Others have proposed the development of machine learning systems to monitor and detect abnormal transactions as an early warning system to trigger a fail-safe fork.

The community’s response underlines the importance of staying ahead in the security arms race against quantum computing. Innovations such as Lamport signatures and ERC 4337-based quantum-resistant smart contract wallets are already in development, as is the integration of quantum-safe cryptographic measures in other digital signature applications.

This initiative by the Ethereum community reflects the broader blockchain ecosystem’s commitment to resilience and adaptability in the face of emerging technological threats. As quantum computing advances, the blockchain sector’s proactive stance on security promises to be a critical factor in its long-term viability and trustworthiness.

The Ethereum team and community’s proactive approach to quantum security demonstrates a clear recognition of the challenges ahead and a willingness to address them head-on. This ongoing conversation will likely shape the future of Ethereum’s infrastructure and set a precedent for other blockchain platforms.

The UK Intellectual Property Office has released an insightful research report addressing the multifaceted concerns and recommendations regarding intellectual property (IP) within the evolving Metaverse(s). The report, finalized in February 2023, stands as a testament to the government’s proactive stance in understanding and guiding the development of this nascent digital ecosystem.

The Metaverse, while still lacking a universally accepted definition, is recognized as a rapidly growing confluence of digital realities that poses unique challenges to current IP frameworks. The report identifies three potential models for the Metaverse: decentralized, centralized, and hybrid, with the hybrid model expected to be the most viable due to historical precedents and geopolitical trends.

The research underscores a significant gap in the literature concerning the discussion of IP within the Metaverse. Despite the burgeoning discourse on technological standards and ethics, few sources adequately tackle the IP questions that arise within this complex matrix of products and services. The Metaverse’s persistent, infinite, and ever-evolving nature necessitates a robust IP framework that can adapt to this dynamic environment.

The authors of the report, experts in the field, emphasize that while the Metaverse ignites the imagination and attracts substantial investment, there is an urgent need to anticipate specific IP issues. The lack of consensus on what the Metaverse entails complicates efforts to predict and address these challenges.

Businesses and users perceive and experience IP differently within the Metaverse. While businesses can resort to contracts and technology-based solutions to bridge any gaps in the current IP regime, users may find themselves at a disadvantage. This disparity highlights the importance of a comprehensive and equitable IP system.

The report’s findings and recommendations are pivotal for stakeholders, including investors, creators, and policymakers, as they navigate the intricate IP landscape of the Metaverse. It calls for ongoing research, dialogue, and potentially reform to ensure that the IP framework can sustain the growth and diversity of the Metaverse while protecting the rights and interests of all parties involved.

The UK Intellectual Property Office’s initiative to commission and publish this report demonstrates a commitment to fostering an environment where innovation can thrive in harmony with IP rights. As the Metaverse continues to develop, such insights will be critical in shaping the policies and regulations that will govern this new digital frontier.

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Binance Labs, the venture capital and strategic incubator arm of the leading cryptocurrency exchange Binance, has officially completed its sixth season of the Incubation Program, announcing investments in seven promising early-stage blockchain projects. This move underlines Binance Labs’ continued commitment to fostering innovation and long-term development within the blockchain and cryptocurrency ecosystem.

The Incubation Program, which began in December 2023, is a two-month initiative designed to provide hands-on mentorship and support from the Binance Labs Investment team, along with access to the extensive network and resources of the Binance ecosystem. Out of hundreds of applicants, only 3% were admitted to the program, highlighting the competitive and rigorous selection process that prioritizes high potential projects.

Yi He, Co-Founder of Binance and Head of Binance Labs, commented on the program’s success and the company’s vision, stating, “Binance Labs is dedicated to backing serious early-stage founders. Our support spans all chains and ecosystems for projects that show a genuine commitment to long-term growth in various sectors. We eagerly anticipate the continued progress of these projects and their contributions to the Web3 landscape.”

The seventh season of the Binance Labs Incubation Program has been announced, with applications accepted on a rolling basis. This presents a new opportunity for innovative founders aiming to impact the blockchain industry.

The Season 6 incubated projects reflect a diverse range of sectors including Decentralized Finance (DeFi), infrastructure, and AI-powered applications. These projects are:

Derivio: A decentralized structured derivatives ecosystem on zkSync, aiming to enhance DEX utility for users, developers, and institutions.

Ethena: A derivative infrastructure provider that seeks to convert ETH into a yield-bearing, crypto-native stablecoin without reliance on traditional banking systems.

Shogun: An intent-centric protocol designed to maximize trader extractable value through optimized order flow and chain abstraction.

UXUY: A multi-chain platform utilizing MPC and AA wallet technology to lower entry barriers to decentralized trading.

Cellula: An on-chain autonomous life simulation strategy game offering composability and persistence.

NFPrompt: An AI-driven platform for Web3 creators, integrating AI-creation, social communities, and commercialization.

QnA3: An AI-powered knowledge sharing and search platform tailored for Web3, with a proprietary data lake for seamless information access.

Binance Labs boasts a portfolio exceeding $10 billion, with investments in 250 projects across more than 25 countries. The venture capital arm emphasizes its success with an ROI rate over 14X, demonstrating its significant impact and leadership in the blockchain investment space.

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Tether Operations Limited has entered into a Memorandum of Understanding (MOU) with the Republic of Uzbekistan. The goal of this groundbreaking partnership is to develop advanced blockchain and peer-to-peer telecommunication infrastructures within the country. This joint endeavor is not only a testament to Tether’s international strategy of fostering resilient digital ecosystems but also positions Uzbekistan as a prospective global hub for blockchain and crypto innovations.

A Synergistic Alliance for Economic Growth

By aligning with the National Agency of Perspective Projects (NAPP), Tether intends to propel Uzbekistan to the forefront of the blockchain revolution. This collaboration is multifaceted, encompassing the enhancement of legal frameworks for crypto assets, support for the national digital currency’s development, exploration of asset tokenization, and the optimization of payment infrastructures. The partnership also emphasizes educational initiatives to bolster blockchain literacy among Uzbekistan’s students and professionals.

Cementing a Resilient Digital Infrastructure

The MOU underscores the critical nature of robust digital infrastructures, with Tether and NAPP committed to realizing a secure, swift, and cost-effective financial system. This initiative is poised to revolutionize Uzbekistan’s digital currency payment landscape, making it more resilient and independent.

Local and Global Impacts

The Director of NAPP, Lee Dmitriy Romanovich, highlighted the immense potential this collaboration holds for Uzbekistan’s economic development. By integrating blockchain technology into public services and beyond, the partnership aims to substantially improve the quality of life for Uzbek citizens. Furthermore, this alliance serves to elevate Uzbekistan’s status as an attractive destination for blockchain businesses and professionals globally.

Fostering a Knowledgeable Crypto Community

At its core, this partnership is dedicated to nurturing a profound understanding of blockchain and related technologies. With the support of local academic institutions, Tether and Uzbekistan are set to create educational programs targeting blockchain technology, stablecoins, and peer-to-peer telecommunications. These programs are designed to equip individuals with the skills needed to excel in the burgeoning crypto industry.

Conclusion

Tether’s collaboration with the Republic of Uzbekistan marks a pivotal step in the expansion of global blockchain capabilities. It promises to invigorate economic growth and innovation, providing a blueprint for how governments and private entities can work together to harness the power of emerging technologies. As this partnership unfolds, the eyes of the blockchain world will undoubtedly be on Uzbekistan, watching as it takes strides towards becoming a leading force in the digital age.

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