[Comparative Daily Picks] EDX Markets, a crypto exchange supported by Citadel and Fidelity, was officially launched in the US; GBTC has risen nearly 24% since BlackRock submitted an ETF application; Vitalik Buterin: Cross-chain proof is the key to achieving cross-chain social recovery wallets, and ZK-SNARK is a viable option

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【CitadelEDX, a crypto exchange supported by Fidelity, etc.MarketS officially launched in the US]

Comparative news, byCitadel Securities, Fidelity Investments (Fidelity Investments),Jiaxin Wealth ManagementEDX Markets, supported by (Charles Schwab), officially announced the launch of its digital asset market in the US and completed a new round of financing, Miami International Holdings, DV Crypto, GTS,GSRMarkets LTD and HRT Technology are participating, and the new financing will support EDX Markets to continue developing its trading platform and solidifying its market leadership position.

Currently, products that can be traded on EDX include BTC, ETH, LTC, and BCH. Additionally, EDX will launch EDX Clearing later this year to settle matching transactions on EDX Markets.

Comparing previous reports, Charles Schwab, Citadel Securities, Fidelity Investments,Sequoia Capital、ParadigmThe other companies announced the joint launch of the crypto exchange EDX Markets in September last year. The platform is led by CEO Jamil Nazarali, Chief Technology Officer Tony Acuña-Rohter, and General Counsel David Forman.

[SinceBlackRockSince submitting the ETF application,GBTCIt has increased by nearly 24%]

Comparative news, according toTradingViewData, applying for stock at investment management company BlackRockBitcoinAfter the ETF, Grayscale Bitcoin Trust (GBTC) shares continued to soar due to market optimism. The price of GBTC in the secondary market rose above $16 for the first time since May 10. It is currently trading at around $15.9, up about 24% since BlackRock submitted its documents on Thursday.

Furthermore, on June 20, EST, the negative premium on GBTC's share price over net asset value narrowed to 33%. This was the lowest level since September last year, down from 34% at the beginning of March, and once again extended to 36.6% at press time.

【Vitalik Buterin: Cross-chain proof is the key to achieving cross-chain social recovery wallets; ZK-SNARK and the like are viable options]

Comparing news,EthereumCo-founder Vitalik Buterin pointed out in the latest article “Exploring Cross-L2 Reading for Wallets and Other Use Cases” that one possible solution to achieve cross-chain social recovery wallets is to maintain a keystore stored in a specific location and multiple wallets in different locations. These wallets can read the keystore to update their own verification key view or during each transaction verification process. Cross-chain proof is the key to implementing this feature, and requires deep optimization. Possible solutions include zero-knowledge proofs (ZK-SNARK), waiting for Verkle proofs, or custom KZG solutions.

Vitalik Buterin said that in the long run, we need to implement an aggregation protocol to package all user-submitted actions by generating aggregated proofs to reduce costs. This may require integration into the ERC-4337 ecosystem, and may require some modifications to ERC-4337. Also, in order to reduce the delay in reading the L1 state from within L2, L2 should be optimized. Wallets can be placed not only on L2, but also on systems that are less connected to Ethereum, such as L3 or an independent chain that only agrees to include the Ethereum state root. However, the keystore should be placed on L1 or highly secure zk-rollup L2. Although this increases complexity, setting up a keystore on L2 may be the lower cost solution in the long run. In this process, we also need to be committed to providing solutions that protect privacy and ensure that our solutions are compatible with privacy protection plans.

[Crypto ExchangesGeminiPlans to expand its Singapore office to hire more than 100 employees]

According to the official blog post, crypto exchange Gemini plans to expand its Singapore office and increase the number of its employees in Singapore to over 100 next year. The office will be the main hub for the company to strengthen its plans for the Asian market. “Our Singapore office will be the hub for our larger Asia Pacific business,” the company said. We believe the Asia Pacific region will be an important driver for the next wave of cryptocurrency and Gemini growth.”

Gemini has already opened an engineering center in Gurgaon, India. It is also actively hiring, with a focus on software engineers and technical product managers, hoping to make it the company's second-largest engineering center after the US. Gemini first detailed plans for the Gemini Foundation, a cryptocurrency derivatives exchange focused on customers outside the US, in April.

【PolygonCommunity proposes to make its Polygon POS chain compatible with zero-knowledge (ZK) technology]

Comparatively, Ethereum scaling solution Polygon published a pre-proposal (pre-PIP) discussion post on Tuesday to discuss the compatibility of its Polygon POS chain with zero-knowledge (ZK) technology. The upgrade will make the main chain zkEVM validium, which means the chain will still be compatible with the Ethereum virtual machine. validium is slightly different from the ZK rollup because they use an off-chain data availability model, and Polygon currently also offers a ZK rollup, which went live in March.

According to Polygon's co-founderMihailo BjelicA blog post written that, if the proposal is approved by the Polygon community, the major upgrade would bring greater security and make the blockchain's framework more “future-proof.” Furthermore, Bjelic believes this upgrade will allow for faster transaction confirmation and expand the blockchain.

[Stablecoin agreementReserveTo Convex,Curve 和 Stake DAOInvestment of 20 million US dollars]

According to the June 20 announcement, stablecoin protocol Reserve will share the DEFI application Curve (CRV), Convex (CVX), and Stake DAO (SDT) have invested $20 million in governance tokens. The investment aims to increase the liquidity of Reserve stablecoin rTokens. It will also increase Reserve's voting rights in these applications' governance systems.

Reserve is a stablecoin protocol that allows users to create their own tokens, backed by any asset they want, including Electronic USD (eUSD), High-Yield USD (hyUSD), Reserve (RSV), Reserve Dollar (RSD), ETH+, etc. Prior to announcing this investment, Reserve was already the 7th largest holder of Convex tokens, after Mochi, Redacted, JPGD, Badger, Clever, and FRAX.

Author: BitPushNews Mary Liu