QED Protocol and Nexus, the Blockchain developers are preparing to launch a layer-2 (L2) scaling solution designed to bring smart contracts to the Dogecoin network.
In a statement QED and Nexus said that the planned L2, a zero-knowledge virtual machine (zkVM), has aims to “enable the world’s oldest and most popular memecoin network to compete in the smart-contract realm with the likes of Ethereum and Solana.
Dogecoin runs on a proof-of-work (PoW) blockchain network akin to Bitcoin's, but with less demanding transaction verifications and no cap on the total supply of Dogecoin DOGE $0.1234. Unlike some other cryptocurrencies, Dogecoin does not support smart contracts.
Hong Kong to align crypto OTC derivative rules with European standards
Two top-level Hong Kong financial regulators have co-announced their intention of adopting to reporting requirements set by the European Securities and Markets Authority (ESMA) for crypto over-the-counter (OTC) derivatives.
On Sept. 26, the Hong Kong Monetary Authority (HKMA) and the Securities and Futures Commission (SFC) shared their plan of bringing their OTC reporting requirements up to global standards after studying responses to a consultation paper from March 2024.
According to Hong Kong stakeholders and investors, crypto OTC derivatives investments cannot be classified under the existing traditional five asset classes — interest rates, foreign exchange, credit, commodities and equities.
$1.1B TIA token release to push October’s crypto unlocks to almost $2B
In October, nearly $2 billion worth of tokens from significant projects will be released, including 175.75 million Celestia TIA tokens valued at $6.40 each, totaling $1.1 billion at current market prices, which constitutes a substantial portion of the month's total unlocks.
According to the crypto vesting tracker DropsTab, Celestia will release $1.1 billion worth of tokens on October 31. These tokens are designated for the project's original core contributors, research and development, Series A and B investors, and seed round investors.
Celestia's goal is to assist users in creating their own blockchains. In 2022, its founders stated that the project intends to enable developers to launch blockchains with the same ease as deploying smart contracts.
