As an important means of linking people and promoting the circulation of information, resources and commodities, the importance and universality of social scenarios are self-evident. Due to their huge potential and value, social products have attracted much attention in the capital market, and major blockchain ecosystems are also actively accepting or integrating social elements. In the context of frequent data leaks, privacy scandals and algorithmic bias on the current Web2 platform, the Web3 social ecosystem has become a hot topic. "Native encrypted social applications" have become a key focus area for top institutions such as Paradigm, while Messari lists "decentralized social (DeSoc)" as a core area that needs to be focused on in 2024.

Original | Odaily Planet Daily (@OdailyChina)

Author: Golem (@web3_golem)

On November 11, Binance announced the launch of spot trading of Meme coins ACT and PNUT. Subsequently, PNUT rose by 250% in a single day, and ACT rose by 2000% in a single day. The market value rose from 20 million US dollars to more than 300 million US dollars in a few hours. After the launch of Neiro, the "uppercase and lowercase Meme coin", Binance's move once again caused a fierce reaction from the market and the community. Some voices questioned the existence of a conspiracy group behind it, while others actively supported Binance to support the community and attempted to find and ambush the next Meme coin that could be listed on Binance.

According to statistics from Dede Think Tank, as of 12:00 on November 17, 2024, there are 15,307 currencies in the global digital currency market. The total market value is $3,145,944,565,843 (about $3,145.9 billion). The total market value of digital currencies this week has increased by about $363.4 billion compared with last week, an increase of about 13.06%.

Most of the global mainstream digital currency markets rose last week

According to statistics from Dede Think Tank, as of 12:00 on November 17, 2024, most of the mainstream digital currency markets rose last week.

Among them, the price of BTC rose from US$79,340.97 to US$90,703.60, an increase of about 14.32%;

Binance Research once wrote that "Decentralized physical infrastructure (DePIN) is one of the most interesting innovations in the cryptocurrency industry and is worth paying close attention to in the coming year. Solana has provided strong support for the development of DePIN and provided services for projects such as Helium, Render, and Hivemapper. This field currently has good development prospects. Take the community-driven decentralized map service Hivemapper as an example. The project has mapped 27% of the world's roads."

Today, Hivemapper Network has been officially launched for two years. What progress has been made in the past two years?

● Supply: Hivemapper is the fastest growing mapping project, having mapped 28% of the world’s road mass in just two years, a growth rate five times that of Google Street View. Despite hardware shortages in its second year, its map coverage is still expanding faster than other crowdsourcing mapping projects, even faster than some projects that rely on smartphones for mapping.

On November 14, 2024, the world's leading decentralized GPU computing network DPIN was officially launched in Dubai, UAE, marking the platform's upcoming full launch. This milestone moment has attracted widespread attention, indicating that decentralized computing power will soon play an important role in the global digital economy.

DPIN is provided with a full range of technical solutions by QPIN Labs, a pioneer in technological innovation. At the launch event, Shawn Tham, CEO of QPIN Labs, delivered a keynote speech, in which he discussed in depth the importance of building a global GPU computing pool. He emphasized that decentralized computing power is not only the core driving force for the development of artificial intelligence (AI) and the digital economy, but also the key to future technological progress. Tham's speech resonated widely among the participants, demonstrating the huge potential of the DPIN project and its leading role in the industry.

On November 16, 2024, the Dexx platform exposed a major security incident in which a large number of user assets were stolen. According to the preliminary investigation of the Beosin security team, the cause of the incident was suspected to be the leakage of the centralized private key. Since the incident, hackers have continued to perform multi-threaded transfer operations on user assets and stole a large amount of user assets.

Incident review and hacker behavior analysis

The Beosin security team analyzed and found that the earliest transfer time should be 2024-11-16 04:47:23, with the characteristics of multi-threaded transfer, and it is speculated that the attack was carried out by the same attacker. Looking at the previous addresses, it is speculated that the attacker transferred the tokens according to the victim's address balance after conversion and sorting in descending order of value. It is necessary to obtain the currency price of all transferred tokens on November 16, and then calculate the value to verify whether it is the rule. If it is in line with the rules, it is further strengthened that it is the same attacker.

Recently, the price of TRX, the native token of the TRON network, has risen strongly, breaking through the $0.18 mark, setting a new high since January 2018. According to CoinMarketCap data, TRX rose by 9.8% in 24 hours, with a trading volume of $2.2 billion and a total market value of over $15.3 billion, ranking tenth in the global cryptocurrency market value. As TRX's market performance has once again attracted attention, the rise of the SunPump platform in the TRON ecosystem has also attracted much attention, becoming a key force in promoting the prosperity of the TRON Meme ecosystem.

SunPump Meme ecosystem expands across the board, leading TRON on-chain innovation

Author: Weilin, PANews

Purchasing real estate with cryptocurrency is becoming the choice of more and more American homebuyers. In the last round of the 2021-2022 bull market, according to a survey by the US real estate trading platform Redfin, about 11.6% of first-time homebuyers in the United States said in the fourth quarter of 2021 that selling cryptocurrency helped them pay the down payment for the property, a significant increase from 9% in the third quarter of 2020.

Based on this trend, on October 24 this year, Propy, a star real estate project in the RWA track, launched a cryptocurrency third-party custody service based on the Coinbase Prime platform and services to solve the troubles of up to 11.6% of real estate buyers. At the same time, Propy also announced the launch of the highest reward event in the history of Coinbase Wallet.

Written by: Tia, Techub News

At the Mainstage of Devcon in Thailand yesterday, Ethereum researcher Justin Drake made a speech to launch the Beam Chain proposal. Beam Chain is Justin's proposal to redesign the Ethereum consensus layer. This proposal is a further upgrade of Beacon Chain to further move towards the ultimate vision of Ethereum. This article will take you to a quick look at the goals of the Beam Chain proposal improvement and its related technical implementation.

Although it is a redesign of the consensus layer, Beam Chain will still use Ethereum tokens and will not issue new tokens or new networks.

For Hong Kong, digital asset finance is a historic train that cannot be missed.

Since the official release of the Virtual Asset Policy Declaration on October 31, 2022, Hong Kong has become one of the most determined and active jurisdictions in embracing Web3 and digital assets among the world's international financial centers. From the Hong Kong government's clear and solemn policy commitments to the institutional support at the executive level of the Securities and Futures Commission, the Hong Kong Monetary Authority and other agencies, Hong Kong is striding towards the forefront of innovation in digital asset finance.

Among them, the tokenization of real-world assets (RWA) is a key part of the Hong Kong government's digital asset financial strategy. In particular, on August 28, 2024, the Hong Kong Monetary Authority officially launched the "Ensemble" sandbox program, which will use experimental tokenized currencies to promote interbank settlement and focus on tokenized asset transactions. This marks the Hong Kong government's forward-looking layout in the field of tokenized assets and also demonstrates Hong Kong's determination to become a global RWA tokenization center.

On November 14, MetaEra officially launched [MetaEra US Zone]. Through vertical sections such as "Policy Tracking", "Industry News", "Selected Compilation", and "US News", it provides users with an accurate US Web 3.0 information window, allowing Chinese-speaking users to more quickly feel the development context and regulatory policies of Web 3.0 from the North American continent.

【MetaEra US Zone】Introduction

This is another masterpiece following the launch of the [MetaEra Hong Kong Zone] on October 22. Through the [Hong Kong Zone], MetaEra is committed to more focused and in-depth depiction of the policy direction, ecological landscape, influential figures, and development trends of the Hong Kong Web 3.0 industry, and comprehensively strengthen the cooperation and exchanges between global and Hong Kong Web3.0 industry builders.

Author: Nancy, PANews

Last week, Trump's victory blew the horn of the crypto bull market. As Bitcoin took the lead in breaking through the historical high, market sentiment became more and more positive, and investor confidence gradually recovered, paving the way for the acceleration of the mainstreaming of cryptocurrencies. Unlike in the past, under the background of the gradually tightening global regulatory environment, the focus of this bull market has shifted to innovation and competition within the compliance framework.

A new cycle is bound to bring about a new narrative. For a long time, "compliance" was not a business that everyone could do. It was a consensus that it was costly and well-received but not popular, and there were naturally high barriers. But we must also face up to the fact that the era of regulatory arbitrage in Web3 has ended. After Trump was elected as the new president of the United States, he will inevitably lead a "policy bull market". "Compliance funds" from traditional financial institutions will enter the market as an incremental amount, which also means that the capital structure and competition landscape of the crypto market will undergo profound changes.

Written by: Yangz, Techub News

Polymarket is undoubtedly the most popular Web3 application behind this US election. When major mainstream media such as the Wall Street Journal were still predicting the voting results in key swing states, this decentralized prediction market founded by the 26-year-old "prodigy" Shayne Coplan had already made the judgment of "Trump's victory" in advance. In the past few days after the election "dust settled", there has been a discussion in the circle about whether Polymarket belongs to the Ethereum ecosystem, hoping to use the popularity of Polymarket to save some "face" of the Ethereum ecosystem. Although Polymarket is sought after by many bigwigs such as V God and is regarded as a "truth machine", the platform has also been subject to various controversies. This article aims to take stock of the various doubts surrounding Polymarket, hoping to look at this platform rationally. After all, the more popular it is, the calmer you have to be.

Written by: J1N, Techub News

Compiled by: Tia, Techub News

Trump's campaign has been full of twists and turns. From gradually gaining an advantage in the early competition with Biden, to Kamala Harris joining the election, which once dimmed his hopes of winning, to gaining public support from technology giant Elon Musk, which injected new impetus into his campaign. Today, the cryptocurrency community and many technology companies are gradually moving closer to Trump on social media, further adding broad support to his campaign. Although the official results have not yet been announced, Trump is already determined to win and has delivered a victory speech. If nothing unexpected happens, he will become the 47th President of the United States. As a cryptocurrency-friendly person, affected by his potential policies, the price of Bitcoin hit a new high today, breaking through 76,000 USDT at one point and soaring to a high of 76,400 USDT.

AI meme is leading the MEME craze with its rising momentum. Coingecko data shows that the total market value of AI meme has soared to US$2.4 billion.

Recently, GOAT has achieved an astonishing thousand-fold increase in just one week after its launch. On October 24, OKX and Binance launched the GOAT contract successively, making GOAT's market value reach a maximum of 800 million US dollars, firmly ranking as the leader of AI meme.

GOAT is an idea that AI Bot "Terminal of Truth" came up with while talking to itself. When a third party released GOAT through Pump.fun, Terminal of Truth quickly wrote the token into its own database, actively promoting the market sentiment of GOAT by interacting with users in a culturally resonant way.

Source: a16z

Authors: Brian Quintenz, Policy Lead at a16z Crypto, Michele Korver, Regulatory Lead, and Miles Jennings, General Counsel.

We have received numerous inquiries from cryptocurrency founders asking what the recent elections mean for their projects. We told them that we have a rare opportunity to bring the best of cryptocurrency to the world, building on the bipartisan progress of the last Congress.

In the coming months, we expect to hear a range of speculation and "hot takes" on what will happen regarding legislation and regulation—most of which is just noise. In fact, it is still too early to judge how everything will change, but we know it is important for the industry. We are very optimistic that the government will now promote innovation, accelerate progress, and allow the crypto ecosystem to thrive in the U.S.

According to statistics from the Dede Research Institute, as of November 10, 2024, 12:00, there are a total of 15,109 cryptocurrencies in the global digital currency market. The total market capitalization is $2,782,516,673,593 (approximately $278.25 billion), and this week's total market capitalization of cryptocurrencies has increased by about $39.29 billion compared to last week, an increase of about 16.44%.

Last week, the mainstream digital currency market rose across the board

According to statistics from the Dede Research Institute, as of November 10, 2024, 12:00, the mainstream digital currency market rose across the board last week.

Among them, the price of BTC rose from $68,522.70 to $79,340.97, an increase of about 15.79%;

By Ciamac Moallemi and Dan Robinson, Paradigm

Translated by: Yangz, Techub News

Introduction

In this post, we introduce a new type of automated market maker (AMM) tailor-made for prediction markets: pm-AMM. AMMs and their predecessors (such as market scoring rules) were originally invented as a way to provide liquidity for prediction markets. They now dominate the majority of DEX volume. Ironically, however, despite the dramatic rise in volume in prediction markets, most of these use order books, not AMMs. One possible reason for this is that existing AMMs are not well suited for outcome tokens (i.e., if the event happens, the token is priced at $1, and if it doesn’t happen, the token is priced at $0). The volatility of outcome tokens, which depends on the current probability of the event and the time until the prediction market expires, means that the liquidity provided by the asset pool is inconsistent. Once the prediction market expires, the liquidity provider (LP) essentially loses all of its value. To this end, we propose a new type of AMM that optimizes around these considerations, aiming to address a long-standing question in AMM research, namely, what does it mean to optimize an AMM for a specific type of asset? In other words, given a model for a certain type of asset (such as options, bonds, stablecoins, or outcome tokens), how does that affect the AMM we apply? We propose a possible answer to this question based on the concept of loss and rebalancing (LVR).

Written by: Shlok Khemani

Compiled by: Glendon, Techub News

Throughout the history of cryptocurrency, a recurring topic of discussion has been: where will the ultimate value flow in the blockchain technology stack? While past core debates have focused on the struggle between protocols and applications, there is a crucial third layer in the stack that is often overlooked - the wallet.

'Fat Wallet' theory posits that as protocols and applications become increasingly 'lean', more development space is released for two of the most valuable resources - distribution and order flow. As the ultimate front end interacting with users, I believe there is nothing better positioned than wallets to convert this value into actual revenue.

Since the beginning of this year, with several skyrocketing popular projects like SUNDOG and SUNWUKONG, SunPump has successfully secured a place in the Meme market. SunPump's core competitiveness lies in its innovative features and unique community interaction model, which significantly enhance user engagement and platform activity, setting a new benchmark in the market and meeting the broad user demand for participation in Meme.

As SunPump's Meme projects continue to gain traction, the potential of the Meme market has been deeply explored. The innovation and scalability of blockchain technology bring infinite possibilities to Meme coin culture. The SunPump Referral Program launched by SunPump aims to build a user-driven, ecologically prosperous new world of Meme coins.