Weekly Crypto Summary: Updates from Optimism, StarkWare

June 10, 2024 (Updated June 12, 2024)

4 min

Keep up to date with our weekly crypto summary, bringing you up to speed with the week’s biggest stories—from the new baseline decentralization by Optimism, StarkWare’s ZK-scaling for Bitcoin and Ethereum, and a whole lot more in the crypto verse.

Optimism’s Baseline Decentralization: Weekly Crypto Summary

Optimism has shipped a set of changes called “Baseline Decentralization.” This work encompasses two main pieces. First, it has realized the UR-proposal implementations so users can entirely exit L2 to L1 with no dependency on a sequencer or any centralized infrastructure. Second, it involved the bridge protocol update to ensure decentralized key storage.
Source: OPLABS

ZK-Scaling Bitcoin and Ethereum with StarkWare

StarkWare will take ZK-scaling to Bitcoin as well as Ethereum. ZK-STARKs will enable Starknet to be the first-ever L2 operating with Ethereum and Bitcoin. It has opened a $1 million fund for the project, which says it won’t generate a new blockchain.

Cosmos Hub v17 Update: Weekly Crypto Summary

They upgraded Cosmos Hub to v17, using the new feature of Gaia ICS 2.0: Partial Set Security. Now, consumer chains can use only a part of the validator set by the Hub, and validators can confirm consumer chains selectively. This was updated at block height 20,739,800.

Updated Chia Roadmap

Chia Network has updated its roadmap to make the enterprise easier to deploy. The newly launched cloud services platform will allow the firm’s developers to reach the APIs to the “differentiated capabilities of the blockchain” without developing new code specifically at the blockchain level. Trading Volume on Arbitrum Sees a Rise As Reported By Uniswap Labs According to Uniswap Labs, the monthly trading volume on Arbitrum had surged from a recorded $6.8 billion in May 2023 to $11.6 billion by May 2024.

Uniswap Labs an increase in the monthly volume of Arbitrum tops.

According to Uniswap Labs, Arbitrum’s trading volume has almost doubled compared to the previous year. In May 2023, the trading volume was $6.8 billion, and in May 2024, it increased to $11.6 billion.