Web3 Digest | Week 28

Coinbase + Polygon

The Polygon network is now available on Coinbase Wallet mobile app and extension, with more scaling solutions to come
-- coinbase

This will be a remarkable integration for Polygon bringing its fast growing ecosystem to coinbase - which is the top most project with a mission of making cryptocurrency more accessible for wider audience.

Forbes interview with Algogrand Founder Silvio Micali

when I discovered algorithms, which are some of the newcomers still in the grand scheme of things in mathematics, I fell in love with them.

I consider blockchain to be the intersection of cryptography, distributed computations and economic mechanisms.

In my opinion, it was really as momentous an invention as the control of fire.

That is really the secret sauce of Algorand, which allows us to be very scalable and very distributed.

Today, there's a little more than 11 million users across over 500 projects that are building on top of Algorand, generating an average of around 750,000 transactions a day

we are powering the first blockchain-based Covid-19 passport for Colombia.

We've been very focused on climate.

Blockchain is a big arena of change for humanity.

The number of developers building on Algorand has grown by an order of magnitude over the past year. We've had more than 20,000 downloads of our developer tools.

If you think about what we're creating as the internet of money, Algorand is sort of that Layer 1 bandwidth and transactional capacity that people need, and other ecosystem players are providing things like wallets, custody services, borrowing and lending applications, and decentralized exchanges. Those are all the building blocks of the next generation of applications.

NFT profile pictures are going to be a multi-billion dollar industry. - @ZackShapiro

Djed StableCoin

Djed [is] an algorithmic stablecoin protocol that behaves like an autonomous bank that buys and sells stablecoins for a price in a range that is pegged to a target price. It is crypto-backed in a sense that the bank keeps a volatile cryptocurrency in its reserve.

What makes this paper very unique is the Isabelle code associated with paper. So the Isabelle higher-order logical formalization, there’s actual prose here. You can see all the Isabelle code, pages and pages and pages and pages of it. So a lot verification was done here, and that is just a truly remarkable thing, and it’s very unique for papers of this nature.

Function X Mainnet is live

Rather than building an ecosystem that competes with Ethereum, Function X aims to leverage on its strengths, for example, by providing asset aggregation contracts, connecting to Ethereum smart contracts, and generating interest at the same time in both (and more) chains.

With the mainnet launch, the holders will be able to bridge their $FX in ERC-20 to the FX Core through f(x)Wallet

The second stage of the launch will be the running of XPOS devices on the FX Core, which will give the Function X Mainnet a number of real-world use cases.

the Function X Mainnet could prove a crucial catalyst in the fight to bring blockchain to the mainstream.

Greyscale

Main crypto fund becomes an SEC-reporting company

This is Grayscale’s third digital asset fund to become an SEC-reporting company, joining the Grayscale Bitcoin Trust (GBTC) and Grayscale Ethereum Trust (ETHE).

the move will give investors a high level of transparency and confidence in the Large Cap Fund.
-- Daily Hodl

The firm has now filed for three more of its trusts — namely for bitcoin cash, ethereum classic and litecoin — to also become SEC-reporting companies.
-- theblockcrypto.com

Greyscale + Cardano

Grayscale’s adoption of Cardano will inevitably lead to increased public adoption. -- Nasdaq

Digital Yuan

The People's Bank of China (PBoC) has published a whitepaper for the country's central bank digital currency for the first time, marking yet another step toward its official rollout.

the PBoC confirmed that one of its seven major features is programmability.

part of the bigger context that pushed China into the research and development of the e-CNY was the emergence of cryptocurrencies and the risks and challenges they brought to the existing financial system.