
Exciting Developments in Crypto: Dash Launches Innovative New Sidechain and Monad-Based Kuru Secures $2M in Funding!
Dash Introduces ‘Evolution’ Upgrade Enhancing Decentralized Ecosystem
On July 29, Dash, a prominent payments-focused cryptocurrency initiative, announced the launch of its highly anticipated Evolution upgrade. This upgrade introduces a sidechain and data contract platform aimed at significantly enhancing indexed decentralized storage and decentralized application capabilities. Key features of Evolution include the Dash Platform Name Service and DashPay, which streamline decentralized payments akin to Venmo by utilizing usernames and contact lists. Dash is not stopping here; future integrations are expected to include IBC compatibility and smart contracts, which will further bolster privacy and functionality in token data and payments.
The Evolution upgrade employs the Platform Chain, a new sidechain that is managed by EvoNodes, ensuring continued security for the Dash legacy chain. Unlike the traditional UTXO model of the legacy Dash chain, where multiple addresses hold coins, the Platform Chain adopts an account-based balance model. It utilizes a modified version of the Cosmos Tendermint consensus, termed Tenderdash, that allows immediate execution and querying of new data, enhancing transaction efficiency.
Kuru Secures $2M for Pioneering Monad-Based CLOB
July 29 marked a significant milestone for Kuru, as it successfully garnered $2 million in seed funding led by Electric Capital and other influential players in the digital finance arena. Kuru is ambitiously developing the first completely on-chain central limit order book (CLOB) on Monad. This development is poised to disrupt the traditional EVM chains by offering a much higher transaction speed of about 10,000 transactions per second and a block finality of 1 second, resulting in markedly lower transaction costs and higher efficiency for market makers.
European Gymnastics Introduces ’Luigi’, a Decentralized AI Assistant
On the same day, European Gymnastics unveiled Luigi, an innovative AI-powered digital assistant designed to enhance user experience by providing decentralized AI and blockchain solutions during the Summer Olympics. Luigi, developed in collaboration with OriginTrail, leverages a Decentralized Knowledge Graph to offer users reliable competition-related information and navigational tools for schedules and historical events, all while ensuring the integrity of the data provided.
Portal to Bitcoin Announces Key Strategic Integrations
The Portal to Bitcoin, committed to enhancing Bitcoin liquidity, announced strategic partnerships with Bitlayer, Sovryn, and Tari, as it gears up for its imminent testnet launch. Aiming to provide a truly trustless solution in cryptocurrency transactions, Portal to Bitcoin incorporates the utility of atomic swaps along with the Lightning Network to enable direct peer-to-peer cryptocurrency exchanges.
Clearpool Set to Debut on Arbitrum in a Landmark Launch
Clearpool, a decentralized finance (DeFi) credit protocol, is set to be launched on Arbitrum, the largest Ethereum Layer-2 network. This deployment hosts Clearpool Prime, an institutional-grade on-chain credit marketplace tailored to meet the growing demands for on-chain credit by institutions. Featuring non-custodial smart contracts, Clearpool Prime ensures fully compliant, KYC-verified transaction environments for its users.
Fuse Announces Comprehensive Updates with ‘Flash’ Testnet Launch
In another announcement on July 29, Fuse revealed the launch of its new Flash testnet, signaling major advancements as it transitions to a new mainnet slated for Q4. This update not only introduces adjustments like the deployment of a Polygon-based ZK layer-2 network but also upgrades in terms of tokenomics, layer integration, and increased transaction throughput.
Each of these updates underscores a pivotal day of innovation and strategic advancements in the digital finance and cryptocurrency sectors. By leveraging decentralized and blockchain technologies, these platforms aim to revolutionize their respective domains, offering enhanced efficiency, security, and user-centric solutions.