Bitcoin hits new high, Solana price jumps as memecoins mania rises and Worldcoin faces heat in SpainWelcome to TechCrunch Crypto, formerly known as Chain Reaction.
Hello and welcome back to the TechCrunch Crypto newsletter.
This week in web3Crunching numbersAs mentioned, this week the crypto space saw all-time highs for bitcoin, again.
Memecoins across the Ethereum, Solana and Avalanche blockchains have seen a huge rally as the crypto market continues to expand.
It’s important to remember that while some memecoins will retain price support for an extended period of time, some can plummet within days, or hours.
Sei Labs, a startup co-founded by a former Robinhood engineer and a former VC from Coatue, has launched a new open sourced project that offers a novel, and exciting approach to make Ethereum faster and less expensive for developers.
On Wednesday, Sei launched The Parallel Stack, a public good project – meaning free for any crypto developers to use.
“The biggest limitation of the EVM is the lack of throughput,” Jay Jog, co-founder of Sei Labs, formerly of Robinhood, told TechCrunch.
The Parallel Stack can do around 5,000 TPS, but is aiming to hit 10,000 TPS by the end of the year, Jog said.
But they use different design philosophies and Sei’s focus is on higher throughput through parallel processing, said Jeff Feng, Sei Labs co-founder, previously an investor at Coatue.
Convinced that the infrastructure layer for truly decentralized social apps was lacking, he decided to fill the void, leading to Taiko’s inception in March 2022.
A truly decentralized social networkFor Wang, Taiko provides a critical building block for a social network that is truly owned by users.
The ideal decentralized social app, despite its greater technical challenges, could allow: “1.
Censorship resistance… and thus, freedom of speech.”One of the greatest challenges facing decentralized social apps is content quality and safety.
Each relayer can then filter content that reflects the “unique perspectives” of the underlying decentralized social network, thereby attracting diverse user bases.
According to PitchBook data, VC investments in crypto companies are down by 68% in 2023 compared to 2022.
But that’s a small number compared to 2022, the year during which crypto companies raised $30 billion.
French crypto startup Kiln just closed a $17 million funding round in December 2023.
As a reminder, staking consists in locking crypto assets in a blockchain to secure a blockchain and its transactions.
Several proof-of-stake blockchains let its users stake crypto assets, such as Polygon, Solana and Avalanche.
Arbitrum is a scaling solution that provides an in-memory database for transparent, real-time P2P payments. Arbitrum’s network consists of thousands of nodes distributed across the world, making it ideal for…
Since its early days, the NFT market has been plagued by a lack of clarity around how it works and what tokens are eligible to be traded on the blockchain.…
Coinbase has joined the Blockchain Standards Association (BSA), a nonprofit organization that promotes best practices for blockchain technology. According to Coinbase, its goal is to “advance the industry by driving…
“The Monad blockchain platform is designed to enable rapid and secure transactions between parties, making it a preferred alternative for digital goods and services. The seed funding will be used…
