Blockchain Weekly Digest — November 20th, 2023
Cardano’s Catalyst Fund11, Noble’ CCTO, ICON adoption of Neutron via IVC, Kava 15 mainnet zero-inflation launch, and Agoric’s quarterly update.
In this week’s Blockchain Digest covers updates in the crypto world, including the Cardano’s weekly development update, Cardano Ballot Event on CIP-1694, and Project Catalyst’s Fund11.
Noble introduces Circle’s Cross-Chain Transfer Protocol (CCTP), ICON expands to Neutron through IBC, and Kava’s upcoming mainnet launch, Kava 15 with zero inflation.
And finally, the Agoric OpCo shares quarterly updates on its product and engineering developments. 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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Cardano
Cardano’s Weekly Development Update
The latest blog post covers various updates in the development of Cardano across different aspects. In core technology, the team achieved running a UTXO-HD capable node in legacy mode, allowing users to choose whether to store the UTXO set on disk. There’s a focus on redesigning the storage layer and LSM-tree backend. In wallets and services, the Lace team released version 1.7 with updates for multi-staking features. Smart contract development involves ongoing work on Marconi API queries and improvements in Plutus tools and Marlowe performance. Scaling efforts by the Hydra team include the October report, community engagement, and addressing specific issues. The Mithril team progressed in decentralizing the Mithril networks and addressing performance issues. In Voltaire, preparations for the Cardano Ballot are underway, allowing ADA holders to express opinions on the blockchain’s future decision-making process. Catalyst launched Fund11 with 50 million ADA for redistribution. The Education team gathered feedback from the Haskell course and continued the IOG Maths Academy.
Read the blog post 👉 here.
Cardano Ballot Event on CIP-1694
The Cardano blockchain, entering the “age of Voltaire” after six years of development, is conducting a community ballot on CIP-1694, a proposal for minimum viable on-chain governance. This marks a significant step in the transition of Cardano’s governance to the community, allowing ada holders to vote on future decisions. The ballot, facilitated by Cardano Ballot, follows 50 workshops across 24 countries and extensive collaboration, with results expected by December 16th. Ada holders need to have staked their ada to a Stake Pool Operator by November 20th to participate, and the voting period is from December 1st to December 11th. Compatible wallets and no transaction fees are mentioned for the voting process.
Read the blog post 👉 here.
Project Catalyst’s Fund11
The IOG Catalyst team has announced Fund11, a funding initiative with a total size of ₳50m, set to launch during the upcoming Project Catalyst town hall on November 15. Fund11 introduces new funding categories for blockchain applications, updates eligibility criteria, and emphasizes community input, aiming to be the most progressive round yet. The proposal submission window opens on November 16, with a focus on organized categories, including Cardano use cases, Cardano open (developers and ecosystem tracks), and Catalyst system improvements. The timeline includes a community review stage, voting period, and results announcement around February 15, with project onboarding in March. Fund11 also offers compensation opportunities for community members contributing to the initiative’s success.
Read the blog post 👉 here.
Cosmos
Announcing CCTP on Noble
Introducing Circle’s Cross-Chain Transfer Protocol (CCTP) on Noble, a Cosmos application-specific blockchain, enabling users to easily transfer USDC between supported blockchains through a native burn and mint process without relying on custodial bridges. The protocol, set to launch on Noble’s mainnet on November 28th, provides a seamless onboarding advantage for the Cosmos ecosystem, allowing users to migrate assets in a single transaction. Additionally, Noble plans to introduce router functionality to automatically forward funds to IBC-connected blockchains, improving the overall user experience.
Read the blog post 👉 here.
IBC Enables ICON Expansion to Neutron
The ICON Foundation recently integrated IBC into its interoperability stack and has since expanded its network to include Neutron, a cross-chain smart contract platform from the Cosmos ecosystem. Neutron and ICON aim to provide a seamless cross-chain experience for users, with Neutron using IBC and modules for data retrieval, and ICON offering a proxy layer to standardize development for cross-chain dApp developers across ecosystems, reflecting a shared vision of borderless blockchains.
Read the blog post 👉 here.
Kava
Kava 15: KAVA Zero Inflation
Kava’s upcoming mainnet launch, Kava 15, scheduled for December 7th, which will make it the first widely adopted Proof of Stake (PoS) blockchain with zero inflation. The update permanently reduces KAVA inflation to zero by December 31st, transitioning the chain to a sustainable model based on transaction fees, emissions from native projects, and interim allocations from the Kava Foundation. The community-backed Proposition 141, passed in May, laid the groundwork for this shift, emphasizing a move from an inflation-based system to one sustained by fees and community support. It highlights additional features of Kava 15, including enhanced developer support, a revamped reward mechanism for stakers, and an extensive testing phase for security and stability. The transition to zero inflation is positioned as a pivotal moment in decentralized finance (DeFi), promising a stable and sustainable economic model with transformative implications for the Kava community and the broader DeFi landscape.
Read the blog post 👉 here.
Agoric
Product & Engineering Goals for Q4 2023
The Agoric OpCo share quarterly updates on its product and engineering developments. The Q4 goals include shipping a new application to mainnet, preparing for a cross-chain capability launch, implementing tooling for performance and observability, upgrading developer and end user experiences, and deploying a Zoe upgrade. The team aims to position Agoric as the preferred platform for interchain contracts in the IBC ecosystem and anticipates a focus on cross-chain launch in Q1.
Read the forum 👉 here and share your feedback.
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