BounceBit will launch mainnet in April, stablecoin will become an important component of currency

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▌BounceBit: Mainnet expected to be launched in April

BounceBit, a Bitcoin staking Layer 1 project, stated on the X platform that it expects to launch its mainnet in April, coinciding with the Bitcoin halving. Early access is now live on the official website, and early contributors can earn points based on TVL and recommended users.  

It is reported that BounceBit is a middleware protocol built on the Bitcoin asset class and introduces BTC re-pledge.

▌Y Combinator Partner: Stablecoins will become an important part of the future of currency

Y Combinator Partner Brad Flora stated that stablecoins can be easily moved across borders while avoiding fees and fraud, and that their "utility is so simple that it seems inevitable that traditional finance will follow suit (behind startups already using stablecoins)."  

Flora likened future stablecoin adoption to the once illegal music file sharing that grew into a market as big as Spotify and Apple, saying: “It’s clear that stablecoins will be the future of money. An important part of".

Quotes

As of press time, according to coinmarketcap data:

The recent transaction price of BTC was 52,126.7 US dollars, with fluctuations during the day. Frame+0.67%;

ETH Recent The transaction price was US$2877.77, and the intraday increase or decrease+2.49%;< /p>

BNB’s recent transaction price was US$349.7, with an intraday increase or decrease of -0.88% strong>;

ORDI’s recent transaction price was US$69.3, with an intraday increase or decrease+1.43%;

The recent transaction price of DOGE was US$0.08522, with intraday changes +1.54%;

SOL’s recent transaction price was US$112.18, with an intraday increase or decrease-0.13%.

Policy

▌Public Security in Zhangzhou, Fujian Province cracked the "Prosperous Chinese Digital Currency" Fraud cases involving as much as 200 million yuan

According to Southern Metropolis Daily, the public security organs of Zhangzhou City, Fujian Province took two years to crack a case involving more than 10,000 people in 29 provinces, autonomous regions and municipalities across the country. In cases related to the unfreezing of national assets of defrauded people, according to the police of the task force, the fraud criminal gang fabricated false projects such as "Prosperous China Digital Currency" to trick victims into purchasing so-called "digital currency membership cards" in the name of investment, claiming that "Prosperous China has already Connect with the central bank’s H5 port”. At present, the police have arrested 178 suspects, involving a total amount of 200 million yuan.

Blockchain Applications

▌The Wormhole Foundation is working with Succinct to develop the Ethereum ZK light client

The Wormhole Foundation, the team behind the cross-chain messaging protocol Wormhole, said that it is working with the Succinct team to build the Ethereum ZK light client. client to further advance decentralized message verification within the Wormhole platform. Developers are leveraging Wormhole ZK to minimize trust in the Wormhole platform, improve cross-chain composability and improve network security.

▌The Lens community proposed LIP-10 to implement the Lens chain Interoperability of on-chain communities

The new LIP-10 proposed by Lens community contributors is a unified standard for creating and managing communities, aiming to solve the problem of on-chain communities throughout the Lens protocol ( such as OrbClubs and Hey Community) interoperability. The proposal sees different applications building on Lens seeking to establish a standard to enhance interoperability and distribution.

▌VanEck Consultant: Bitcoin and POW-supported systems can Blocking spam attacks launched by AI

VanEck consultant Gabor Gurbacs said on the X platform that artificial intelligence (AI) is launching the most serious spam attacks in the world’s history, only Bitcoin and POW A supported system can prevent it, but few people understand this now.

Cryptocurrency

▌Bloomberg Analyst: Vanguard has seen inflows of approximately $30 billion since the launch of the spot Bitcoin ETF

Bloomberg analyst Eric Balchunas said that since the launch of the spot Bitcoin ETF, Vanguard has It has attracted approximately US$30 billion in funds, which is 6 times the inflow of spot Bitcoin ETFs. The analyst said: “They (Vanguard) are on another level, and I say this because I am in awe of what the spot Bitcoin ETF has achieved, but Vanguard is the whale in TradFi.”  

Vanguard previously stated that it would not launch a spot Bitcoin ETF.

▌Coinbase Commerce removes support for native Bitcoin and other UTXO tokens

Coinbase product director Lauren Dowling said that Coinbase has removed support for native Bitcoin and other UTXO tokens from its merchant payment platform (Coinbase Commerce). To use Bitcoin to pay, shoppers need Have a Coinbase account.  

Dowling stated that the reason was the difficulty in providing the latest update to the Bitcoin EVM payment protocol. Dowling said: "The new Commerce product enforces the details of every payment on the chain, supporting data Hundreds of assets (native and ERC-20), automatically converting payments to on-chain USDC at exchange rates guaranteed to merchants. Providing these same features on the Bitcoin blockchain without smart contracts and stablecoins is challenging nature, so we have made the difficult decision to remove support for native Bitcoin and other UTXOs." 

The decision to remove native Bitcoin sparked criticism from the crypto community, with some users noting that the move would Impacting Bitcoin Adoption.

▌Bitcoin Magazine CEO: In the next 6 years, the market value of Bitcoin will On par with gold, reaching 13 trillion US dollars

Bitcoin Magazine CEO David Bailey posted on will exceed this number): $13 trillion. This $13 trillion in asset appreciation was transferred to the economy and capital markets through massive credit expansion and accelerated consumer spending. Once the US implements a similar Executive Order 6102 on Bitcoin, they will nationalize central custodians such as Coinbase and pay users a fixed amount per Bitcoin. Coinbase’s Bitcoins will become the assets of the Federal Reserve, held in the digital equivalent of Fort Knox.

▌"Rich Dad, Poor Dad" Author of "Dad": Bitcoin will reach $100,000 by June 2024

Robert Kiyosaki, the author of "Rich Dad Poor Dad" said on social media that by 2024 In June of this year, Bitcoin will reach $100,000.

▌Edward Snowden: Bitcoin is the most important monetary advancement since coinage

Edward Snowden, former employee of the CIA and leaker of the "Prism" incident ( Edward Snowden said that Bitcoin is the most important monetary advancement since the creation of coins.

Important Economic Updates

▌Former Fed “Hawk” Bullard: 3 A monthly interest rate cut is wise

Former St. Louis Fed President Bullard recently said that he believes the Fed should cut interest rates at its next meeting (March) to pre-emptively prevent its policy stance from changing later this year. Sometimes excessive suppression of economic activity. Two years ago, Bullard was a leading advocate of rapid interest rate hikes, and as recently as last summer he warned that further hikes were necessary. But now he says a rate cut makes sense now that inflation has fallen below 3% and is heading toward its 2% target, based on the Fed's preferred metric. "I think they should act," he said after speaking at a conference of the National Association for Business Economics in Washington. "It may be wiser to act earlier but slower."

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Golden Encyclopedia

▌The role of validators in the blockchain

Validators are responsible for adding new blocks and verifying transactions in proposed blocks, thus ensuring the success of the blockchain. plays a vital role in operation. Validators are essential for validating transactions in blockchain consensus mechanisms such as Proof of Stake (PoS) and Proof of Authority (PoA). They check that new transactions comply with network rules and ensure that the sender has sufficient funds to complete the transaction. Validators are also responsible for ensuring the security of the blockchain by monitoring the network for any malicious activity, such as double spends. Validators are paid in the underlying blockchain’s native cryptocurrency.

Disclaimer: As a blockchain information platform, Golden Finance publishes articles for information reference only and not as actual investment advice. Please establish a correct investment philosophy and be sure to increase your risk awareness.