侧链 · 1146

ECX plans to launch the main network on October 31. Most Bitcoin holders can get ECX at 1:1

Comparatively, ECX plans to launch in three stages. The alpha phase will be launched around the Bitcoin block height of 963648. The beta phase is expected to take place on September 20 with a block height of 967680, and the permanent main network is scheduled to be launched on October 31 with a block height of 973728. The project was driven by Drivechains, founder and head of Layertwo Labs, and Paul Sztorc, developer of BIP-300/301. ECX will copy the transaction ledger of the specified Bitcoin snapshot and distribute ECX to most Bitcoin holders on a 1:1 basis on the new network. During the snapshot, users who control the private key through a self-hosted wallet can directly obtain the corresponding assets. Users of exchanges and other custodian institutions need to wait for the relevant platform to decide whether to support forking and distributing ECX, and the original BTC will not be exchanged, locked, or transferred. ECX plans to initially launch seven dedicated sidechains: Thunder, Zside, Bitnames, Bitassets, Photon, Truthcoin, and Coinshift. Of the approximately 1.1 million early Bitcoin corresponding addresses associated with Satoshi Nakamoto, about 600,000 ECX will continue to be distributed to these addresses, and about 500,000 ECX will be transferred to early investors and development funds through special transactions, but BTC on the Bitcoin network will not be affected.

1m ago

USDT surpasses Ethereum in market capitalization, why is the public chain value not growing at the same time?

Author: Jon Reiter Compiled by: Luffy, Foresight News Original title: USDT's market capitalization overtakes Ethereum, what signals are being sent behind it? At one point, USDT surpassed Ethereum in market capitalization. At the time of writing this article, the market value of USDT was slightly lower than that of Ethereum, and the market value difference between the two was only a few percentage points. What does it mean that USDT has become a cryptocurrency after Bitcoin? At the same time, one phenomenon worth pondering is that the size of stablecoins has continued to expand over the past ten years, while the market capitalization of mainstream non-stablecoin coins such as Bitcoin, Ethereum, Solana, BNB, Ripple, and Wave has stagnated all year round. This has nothing to do with safety. First, let's be clear that this doesn't mean anything. Many Web3 solutions rely on one type of asset to provide a “financial safety cushion” for another type of business. A typical example: the general design logic of oracles, where decentralized autonomous organizations (DAO) vote to ensure data accuracy, and the price output by the oracle is used to settle various contract transactions. Projects such as Chainlink are all variants of this logic. The premise for the establishment of such a mechanism is that the total market value of DAO governance tokens must be much higher than the size of transactions settled through this oracle. The reason is simple: if it only takes $1 million to control the DAO but can manipulate the settlement of contracts worth $10 million, this system is completely economically insecure. This is not a technical loophole in the code; rather, there is a flaw in the economic incentive design. Interested people can control the system at low cost to achieve self-interest and contrary to objective and impartial results. However, Ethereum does not provide any financial security endorsement for USDT at all. USDT is also distributed on dozens of public chains such as Bochang, and none of these public chains can back USDT. Theoretically, even if someone breaks down a certain public chain that issues USDT, and either doubles or invades other people's tokens, the USDT operating company Tether can directly freeze, recover the on-chain tokens, and reissue them on other chains. Whether the total market value of this public chain is only $1 or $1 trillion, Tether can complete the operation: it only needs to pay the on-chain transfer fee and fully control the right to dispose of the token. Even if the attackers completely control the entire public chain and block Tether's official contract interaction, the project party can simply abandon this chain and refuse to pay all USDT on the chain. At that time, the team can guarantee that innocent users can redeem assets on other chains through solutions such as hard forks and offline ownership certificates. Tether will independently arrange the entire process. Controlling the public chain also has no influence on Tether's dollar reserves. It is undeniable that USDT relies on public chain circulation, so the market needs a number of stable, usable, and secure underlying networks. But that's all; the core entity of asset security has always been Tether. As long as there is a reliable public chain on the market, USDT can circulate normally. A reliable standard for public chains is that native tokens generally have a considerable market value. However, the market value of native tokens does not provide a real security guarantee for stablecoins, so it is entirely possible to create a public chain with a market value of only a few billion dollars or even hundreds of millions of dollars of native tokens, carrying the circulation of stablecoins on a scale of 100 billion dollars. If the total market value of a public chain's native tokens is only $1 million, it is difficult to support a mature DeFi ecosystem, and users won't be willing to deposit billions of USDT on it; however, as long as users are willing, there are no hard barriers in terms of security logic. This does not mean that Ethereum itself is flawed, and the USDT market value continues to rise relative to Ethereum. This does not indicate that the value of Ethereum itself has been damaged. Admittedly, the rise in USDT market value means that more and more capitalized users are in demand to use stablecoins, but this does not mean that the demand for USDT use exceeds that of the Ethereum ecosystem. USDT is a value storage tool that relies on issuer reserves and endorsements; ETH tokens are essentially proof of future earnings in the blockchain space of the entire Ethereum network. Even if the market is extremely optimistic about Ethereum, the network expansion will lead to a sharp increase in the supply of block space and a drop in processing fees, which will suppress the price of ETH; conversely, the extensive use of USDT by users will only boost the total amount of USDT issued, and will not change the price of a single USDT of 1 dollar. The fact that users choose USDT to deposit funds has nothing to do with the competitiveness and development prospects of Ethereum as the underlying platform for Web3. We can intuitively understand it through two extreme hypotheses: USDT can far surpass Ethereum in both scenarios, but the situation of Ethereum is very different. Scenario 1: The market basically abandons Ethereum, and a better bottom layer appears...

43d agoburnking#USDT #Ethereum

Crypto projects' flee 'their old names in bulk: the liquidity reset game behind brand upgrades

Author: Gu Yu, ChainCatcher Original title: Why do crypto projects always like to change their names? In the traditional business world, brand assets are the lifeblood of an enterprise. Frequent name changes are almost tantamount to actively destroying a moat. Nvidia won't change its name every few years, Apple won't give up on Apple because of some kind of business transformation, and Nike won't bring back the brand because of a sluggish market cycle. But in the cryptocurrency world, the rules are often the opposite. According to RootData statistics, more than 16% of encryption projects have changed their names, and many well-known first-line projects have also changed their names in large numbers. Just yesterday, the on-chain IP ecosystem Story Protocol announced that it will change its name to DATA, and IP tokens will migrate 1:1 to new DATA tokens. Within a few months, Xion changed its name to Verona, Matrixport changed its name to BIT, and TON's token symbol to GRAM. Earlier, a number of well-known projects such as Klaytn, EOS, Fantom, MakerDAO, Elrond, and Matic Network changed their names. More extreme projects have even changed their names more than once. For example, MAITRIX used names such as CENTRAL, X Network, and XLD Finance; BitSafe used the names dlcBTC and DLC.Link; Talex used the names Read2N and Metale Protocol; and KGen used the names IndigG and Kratos Gaming Network. The names have changed more and more, but most projects have not gained new life due to the new name; instead, they have gradually fallen silent. This brings up a question that is rarely seriously discussed in the crypto industry: Why do crypto projects always like to change their names? The answer is probably not complicated: because in the crypto industry, brands aren't the most important assets; attention, narrative, token prices, and liquidity are. 1. Crypto brand loyalty is too low. The reason traditional brands are afraid to change their names is because user loyalty comes from long-term consumer experiences. A user has bought an iPhone for many years, drank Starbucks for many years, and worn Nike for many years. His perception of the brand was not formed in a day, nor did it change easily due to a certain marketing campaign. But cryptographic projects have a completely different user structure. Most early users aren't consumers in the traditional sense, but investors, airdrop hunters, liquidity providers, node participants, and narrative traders. They use products not necessarily because they are easy to use, but because they may have air investment, may be profitable, and may have room for growth. This means that crypto brands are naturally less loyal to users. In the traditional industry, users ask “Is this brand worth trusting”; in the crypto industry, users are more often asked “can this coin rise?” As long as prices are sluggish for a long time, the narrative fails, and the ecology is silent, the old name will instead become a negative asset. A name that has experienced a crash, duvet cover, hacking, team controversy, or route failure can hardly inspire the market's imagination. It doesn't carry brand assets, but K-line scars and community grievances. This is the root reason why crypto projects dare to change their names frequently: in many cases, old names have no moats, only historical baggage. 2. Renaming is a marketing strategy. Not every name change should simply be viewed as a “vest change.” The name change of some projects is indeed because the original name cannot carry the new strategic scope. As hot market concepts change, if the name includes old concepts such as “Social” and “DAO,” or if the meaning of the name does not match, changing the name is an inevitable choice. For example, the decentralized social networking protocol OpenSocial changed its name to Eden after transforming AI, the decentralized electronic signature platform EthSign chose to remove “Eth” from its name after expanding its business, and the Ethereum sidechain Matic Network changed its name to Polygon (meaning polygon) after building multiple scaling solutions. When the project's business boundaries fundamentally change, the original brand may limit external perception. The name change is a necessary strategic calibration at this point. Of course, there are also quite a few projects that actively “grab hot spots”, and you can get more attention by naming popular concepts. In the last metaverse boom, Elrond changed its name to MultiversX and directly added “Multiverse” elements to the name, apparently hoping to join Yuanyu...

57d agoburnking#encryption #Exchange coins

Seven pictures of A16z dismantling RWA: after 30 billion dollars is the real tough battle

Author: a16z crypto project leader Robert Hackett Original title: 7 Charts: Tokenized Assets Have Understood the Concept. Now comes the hard part. Compiled and organized by BitPushNews Last month, the tokenized asset market (that is, what others sometimes call “real world assets”, RWAs for short) broke through the $30 billion mark. Since then, the size of the market has remained above this level, and is currently close to $34 billion (stablecoins are excluded from this data). This market is roughly the size of a regional bank or an endowment fund from a top university; it is large enough to have some influence, but it is still insignificant compared to the global financial system as a whole. Not long ago, in mid-2024, the tokenized asset market was less than $3 billion. Subsequently, development began to accelerate: the US GENIUS Act (The GENIUS Act) brought more clear stablecoin regulations; institutional-level on-chain infrastructure was becoming more mature; at the same time, a large number of financial institutions switched from blockchain pilot projects to actual production systems at almost the same time. (Although stablecoins are excluded here, they have provided a strong impetus for market growth by simplifying on-chain payments and settlements.) Driven by these developments, the tokenized asset market has grown tenfold in less than two years. The tokenized take-off of US Treasury bonds has driven much of this market's recent growth. The appeal behind it is clear: for investors, they can hold familiar, self-yielding assets in a faster, more flexible form native to digital networks... while for institutions, they can benefit from more efficient settlements, collateral transfers, and integration with digital markets. For cryptocurrency investors, tokenized treasury bonds also provide a way to put idle stablecoins into use while reaping the benefits of traditional money markets. BlackRock (BlackRock), Franklin Templeton (Franklin Templeton), and a growing number of asset managers poised to meet this demand have moved quickly to build a multi-billion dollar market around this idea. The speed at which different classes of tokenized assets are scaled up varies greatly. This not only reflects the complexity of introducing different asset classes into the chain, but also the speed at which early products are searching for market demand. Asset-backed credits (Asset-backed credits) — including tokenized home equity credit lines (HelOCs) and lending vault tokens (lending vault tokens) — reached $1 billion in market capitalization in just 185 days after recording initial on-chain activity, making it the fastest scaling of any tokenized asset class, and the advantages are extremely obvious. Specialty finance (Specialty finance) — such as tokenized reinsurance contracts and Bitcoin mining notes — ranked second in speed, breaking through the same threshold in less than two years. At the other end of the spectrum, venture capital (Venture capital) took more than seven years to reach $1 billion, while Active strategies (Active strategies) took almost as long — reflecting its more complex structure, longer cycle times, and greater operational and regulatory complexity. Government debt (Government debt) and commodities (commodities) have scaled relatively fast — reaching $1 billion in 2 to 3 years — and have since then become the most dominant category. By early 2024, they had almost taken over the entire tokenized asset market. Although shares in other categories, such as asset-backed credit, specialty finance, equities, and active strategies, have been growing steadily since 2024, the market remains highly concentrated. Today, tokenized US Treasury bonds and commodities together account for about two-thirds of the overall market. An in-depth analysis of the tokenized asset market is even more concentrated within the commodity category: gold accounts for almost the entire share — out of a total commodity market value of about $5.1 billion, gold has a monopoly of about $5 billion. In contrast, silver-related and other products are almost negligible...

87d agoWendy#a16z c #a16z Crypto #GENIUS Act #RWA #RWA topics #tokenize #Tokenization topics #depths #compiling #viewpoints #starters

Read this article: How to use GMGN to mine Alpha on the Base Chain

Article: Felix, PanNews Original title: Base boom is here, how to use GMGN to discover new opportunities? GMGN.ai is currently the most popular multi-chain meme trading and intelligence platform, which can track new coins, trends, “smart money”, and popular stories in real time. In particular, the recently popular Base ecosystem has become a meme trading network second only to Solana due to favorable factors such as low fees, instant transactions, and reliance on Coinbase, and representative memes such as TOSHI and BRETT have emerged. For newbies, how to access cutting-edge stories and participate in meme trading is a top issue. This article will take the recently popular Base ecosystem as an example to quickly get you started with on-chain transactions. 1. Basic settings and interface navigation Open the website: https://gmgn.ai点击右上角 Connect → select Connect Telegram (recommended) or connect directly to the wallet. Switch to Base Chain: In terms of Base functionality at the top of the page or in the chain switcher on the right, select modules such as “Trenches, Popular, Explore, Monitor, Track, and Assets” at the top of the page. In the popular module, it is divided into SGD, Hot, and Next Blue Chip. It supports 5m/1h/6h/24h screening, ranked by dimensions such as transaction volume, market capitalization, holder growth, and smart money inflow. Click or enter CA to go to the token details page to view holder structures, trading curves, KOL positions, AI risk tags, etc. 2. Smart Money Drives Narrative Discovery 1. Smart Money/KOL Ranking and Tracking. In the Explore module, you can filter for 7-day or 30-day profitable addresses. These addresses are often labeled as snipers (early low-buy-out), long-lived, or robot. Click on the address to view its historical transactions, focusing on PNL, position length, and win rate on Base Meme. Taking the above chart as an example, the top 3 30-day profitable addresses are all sniper style. Among them, the top 1 has a 30-day profit of nearly $259,000, mainly from $GITLAWB, $CLAWD, and $TSG. Tag high-quality addresses and build a personal database. You can even use the copy function to set the copy ratio and take-profit and stop-loss parameters, test a small amount first, observe the winning rate of a few trades, and then increase the position. 2. The token detail page analyzes the narrative. Go to the list or search for BRETT, TOSHI, etc. for details: Holder Analysis: Check the amount of smart money, concentration of top holders, and recent buy/sell distribution. Generally speaking, a normal community with steady and scattered holder growth is healthier. Social media and KOL: You can jump to X links with one click to check community activity and KOL retweet records. Narrative tags: Observe whether the project relates to trending topics, IPs, or collaborations with celebrities, etc. 3. KOL and keyword monitoring. Add active KOLs to the monitoring list and set up real-time push (purchase, position addition, clearance events). Also, add keyword alerts, such as “Base cat meme.” When multiple KOLs focus on similar topics at the same time, it often heralds the start of a new story. 3. Build a personal tracking system to continuously tag addresses, KOLs, and success stories in GMGN. In this process, GMGN data is the main focus, and is assisted by X search community sentiment and overall on-chain activity. In summary, no matter what kind of tool you use, the core is to observe and monitor smart money/KOL addresses, check transaction records on a daily or regular basis, disassemble transaction logic, and establish a personal alpha database, so you can efficiently capture trending stories and seize emerging opportunities. Twitter: https://twitter.com/BitpushNewsCN比推 TG Community: https://t.me/BitPushCommunity比推 TG Subscriptions:... https://t.me/bitpush

89d agoLuxurytracy

Ronin will migrate to the Ethereum Layer-2 network on May 12 and be temporarily down for 10 hours

In comparison, according to CoinDesk, Ronin, the game chain behind Axie Infinity, will move from an independent sidechain to the Ethereum Layer 2 network through a hard fork on May 12, which is expected to cause about 10 hours of network downtime, during which time all transfers, swaps, and contract interactions and on-chain gaming activity will be suspended. The upgrade will introduce the OP Stack architecture and the “Proof of Distribution” distribution model to reward builders based on actual network contributions, while drastically reducing the RON inflation rate from over 20% to less than 1%, and transferring 90 million RON originally used for staking rewards to the treasury fund. The market fee will be raised from 0.5% to 1.25% to improve security, scalability, and reshape the token economy.

103d ago

Developers plan to fork Bitcoin eCash, reallocating Satoshi Nakamoto tokens sparks controversy

In comparison, according to CoinDesk, Paul Sztorc, the developer who has been following the Bitcoin scaling scheme for a long time, proposed to launch a Bitcoin hard fork called eCash at a block height of 964,000 in August 2026, distribute eCash 1:1 to users holding BTC at the time of the fork, and introduce the Drivechains sidechains architecture in the new chain. The controversy mainly centered on its intention to pre-allocate part of the eCash corresponding to Satoshi Nakamoto's address on the new chain to early investors. The move was criticized by the community, which some said involved “stealing” tokens. Paul Sztorc said the move was aimed at providing incentives for development and collaboration before the project went live.

117d ago

The copycat won't die; it will only become more and more like the “US stock market”...

Author: TVBee Original title: Altcoins/VC coins will not die out; they will only tend to become US stocks... The contradiction between the copycat season and the redundancy of VC coins actually happened around May to August 2025. BTC is rising, and at the same time, its market share is declining. The market share of altcoins is rising at this stage. BTC is rising, while the total market value of copycats is growing even more. This is the copycat season. The contradiction of VC coin's redundant copycat season is that the total market value is growing, yet the market has no perception of the copycat season. This is because the total market value of altcoins is growing, but there are so many altcoins that the vast majority of individual altcoins have not risen significantly. So the key problem with the 2025 counterfeit season is — VC coin redundancy. So the question is, why will there be so many VC coins in 2025? The normal route of misalignment in the VC coin 1 and 2 market liquidity should be for VC to invest first, then enter the secondary market after the token TGE. Facing greater liquidity in the secondary market, the price rises. However, in this round of the market, there was a liquidity misalignment between the primary market and the secondary market. ◆ The reason for VC coin redundancy is excessive liquidity from 2021 to 2022. There was a large amount of VC investment, investment amount, and number of projects in the primary market. Financing in other time periods is generally only concentrated within 1 to 2 months, but from 2021 to 2022, there is a lot of financing and the duration is long. We can think that this is financing redundancy due to excessive macro liquidity, which is the root cause of VC coin redundancy in this round of the market. ◆The reason for the poor performance of VC coin prices is the lack of liquidity in the secondary market. However, whether it is the previous M2 growth rate or the financing data map, it fully explains that market liquidity is declining after these redundant VC coin TGE in 2025. As a result, this kind of time gap between the liquidity in the primary market and the secondary market was created. A large number of VC coins have redundant liquidity in the primary market financing stage, while in the secondary market stage after TGE, there is a lack of liquidity. Of course, there are many reasons for the lack of liquidity in the secondary market, which will be discussed in the next article. Summarizing the most critical issue is that the liquidity misalignment in the VC coin tier 1 and 2 market led to a relatively large number of VC coins during the 2025 copycat season, and the selling power was relatively high. Instead, the buying power was insufficient, and the currency price performance was not ideal. Altcoin/VC coins will not die out. VC coin financing continues with a more cautious attitude and is still the previous VC financing plan. As can be seen, there are still quite a few projects receiving financing in 2025. Including the total amount of financing and the number of projects, it is far lower than in 2021. On the one hand, it may be that macro-liquidity is relatively unrelaxed; on the other hand, it also shows the cautious attitude of VCs in investment activities. One thing to note, however, is that in 2025, an average of about 75 projects were funded each month. The amount and volume of VC financing in 2025 was higher than in 2017-2018. This shows one thing: after we ignored VC coin financing redundancy in 2021, altcoin/VC coin financing is still improving. After this round of the bear market is over, after VC coins are TGE again, there will be no redundancy of as many new coins as in 2025. Unless macro-liquidity is still not relaxed enough, the new round of counterfeit market will probably be one of two situations between the craziness of 2021 and the cold of 2025. Web3 finance still holds a scale of nearly 100 billion US dollars. First, in the financial sector, a large number of TRADFI institutions have joined Web3. There is no need to even give an example in this area anymore. Currently, the TVL of the entire network is still 92,831 billion US dollars, which is roughly equivalent to the level of March to April 2021. Technology companies and Web3 continue to integrate ✦ Examples of tech giants participating in Web3 are in the non-financial sector, and tech giants are also participating in Web3. For example, Google is deeply involved in the Hedera ecosystem, is a network node of Hedera, and is also a member of its management committee. Hedera's management committee members also include IBM, Boeing, and Nomura Securities. Google has also integrated Hedera's ledger data into BigQuery, and developers can use SQL to query Hedera blockchain data. (Blockchain is not a relational database and does not support direct use of SQL. Generally, SQL can only be used after indexing). Google is also one of the Midnight (Cardano sidechain with privacy protection) nodes, and provides developers with development tools to quickly deploy Midnight nodes using Google Cloud. Nvidia recently boosted its AI...

143d agoLuxurytracy#Market topics

Claude Code added a /btw sidechain conversation feature to ask questions without interrupting the task

Comparing the news, developer Lydia Hallie said that Claude now supports the new ability to quickly ask questions in current conversations, so users can ask questions to AI without interrupting the main task. According to reports, this feature is implemented through the new command /btw, introduced by developer Thariq. Users can start a side-chain conversation (side-chain conversation) to ask temporary questions while Claude performs a task. This mode is read-only, does not invoke tools, and does not write to the main conversation history; relevant answers automatically disappear when the user closes the window.

164d ago

Blockstream's Jade hardware wallet adds Lightning Network support to instantly pay Bitcoin from cold storage

Comparatively, according to Bitcoin magazine, blockchain development company Blockstream launched the 5.2.0 version of the Blockstream Green app. This update connects Lightning Payments to the Liquid Network (Bitcoin sidechain developed by Blockstream) and uses atomic swaps to convert Lightning Payments into Liquid Bitcoin (LBTC) protected by Jade devices. According to the report, its Blockstream Jade hardware wallet is currently the first hardware wallet that can interact with the Bitcoin Lightning Network, allowing users to send and receive lightning payments while safely storing funds in cold storage.

165d ago