Blockchain Weekly Digest — August 19th, 2024
Introducing The Decentralized Validator Vault, ICF Annual Report 2023, and Beyond, Technical Exploration of Solana-IBC (AVS) by Picasso Network, and Essential Cardano Weekly Development Update.
The Blockchain Weekly Digest covers several key updates across major projects. Mellow launches the Decentralized Validator Vault, aimed at enhancing network security and decentralization within Lido by increasing Distributed Validators (DVs) and providing rewards from stETH and DV providers. In Cosmos, the Interchain Foundation’s 2023 Annual Report highlights significant advancements such as governance expansion and the Interchain Stack Roadmap, with plans for greater collaboration and transparency in 2024–2025. The Picasso Network, under the Composable Foundation, introduces a solution for integrating Solana with the IBC Protocol through an Actively Validated Service (AVS), enabling secure cross-chain communication. For Cardano, recent developments include new ledger features, wallet updates, Hydra version 0.18.0, and progress on the Chang upgrade, alongside the Catalyst team’s release of the Catalyst Horizons report and workshops at Rare Evo, and the Education team’s review of the Cardano Developer course and updates to ‘Mastering Cardano.’ Navigate through the quiet, yet captivating waters of the crypto world in this weekly roundup. Keep reading for a detailed exploration of each update.
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Ethereum
Introducing The Decentralized Validator Vault
The Decentralized Validator Vault, implemented by Mellow, is designed to increase the number of Distributed Validators (DVs) within Lido on Ethereum, enhancing network security, decentralization, and resilience. The Vault will stake ETH through Lido, allowing stakers to earn rewards from both stETH and DV provider incentives from Obol, SSV, and Mellow. Initially launching with limited capacity, the Vault aims to reach around 11,868 validators, representing approximately 4% of Lido’s total staked assets. This initiative strengthens Ethereum’s infrastructure by supporting broader participation and diverse validator operations globally.
Check it out the blog post 👉 here.
Cosmos
Interchain Foundation Annual Report 2023, and Beyond
The Interchain Foundation (ICF) has released its 2023 Annual Report, which was delayed due to leadership changes. The report highlights key developments, including the expansion of governance, the launch of the Interchain Stack Roadmap, and the initiation of a stewardship model. The ICF also expanded its Delegation Program and invested in security audits. Looking ahead to 2024–2025, the ICF plans to introduce new collaboration and transparency initiatives, refine its strategic goals, and enhance its services to support the broader interchain ecosystem.
Check it out the blog post 👉 here.
Technical Exploration of Solana-IBC (AVS) by Picasso Network
The Picasso Network, under the Composable Foundation, has developed a guest blockchain solution to integrate Solana with the Inter-Blockchain Communication (IBC) Protocol. This integration overcomes Solana’s lack of native state proofs by using an Actively Validated Service (AVS) to generate necessary proofs, ensuring secure cross-chain communication. The solution leverages a Merkle trie structure for data integrity and utilizes Picasso’s restaking layer for enhanced security. This innovation enables Solana’s interoperability with IBC-enabled networks, setting a precedent for other Layer 1 blockchains facing similar challenges.
Check it out the blog post 👉 here.
Cardano
Essential Cardano Weekly Development Update
During last week, the IO teams participated in Rare Evo 2024 in Las Vegas, presenting their latest developments. In the weekly development report, key updates include the Core Technology team adding minor features to the ledger for voting queries and transaction size computations, with a focus on Conway testing. The Lace team released wallet version 1.14, which includes CIP-95 support and bug fixes. The Hydra team addressed a bug related to the Conway hard fork and released version 0.18.0, enhancing compatibility and introducing incremental decommits. The Voltaire & SanchoNet teams saw the governance tool GovTool go live on testnets, and many wallets and stake pool operators are now ready for the Chang upgrade. Additionally, the Catalyst team released the Catalyst Horizons report and planned talks and workshops for Rare Evo. The Education team reviewed the recent Cardano Developer course and updated ‘Mastering Cardano,’ with some members also attending Rare Evo.
Check it out the blog post 👉 here.
Thank you for reading.
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We aim to decentralize the Proof-of-Stake blockchain ecosystem. We’re highly familiar with the Tendermint-based blockchains such as Cosmos, Kava, Agoric, Aura; Ethereum and EVM-chains like Harmony; and substrate-based chains such as Cardano. Our global team is continuously improving our automations and constantly monitoring our operations to ensure high availability and resilience.
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