TRON plans to implement gas-free transfers of stablecoins
The Tron team is actively developing a solution for free P2P transfers in stablecoins. The founder of the project, Justin Sun, announced his plans to introduce this technology in the fourth quarter. Subsequently, the technology will be integrated into Ethereum and other EVM-compatible networks. Tron currently occupies a leading position in stablecoin activity, surpassing BSC in the number of active wallets and Ethereum in terms of coin turnover.
According to DeFi Llama, the total value locked on the Tron network is $7.15 billion, of which $58 million is in stablecoins.
Ripple: a year after the “partial victory” over the SEC
Last year, the Southern District of New York court ruled in favor of Ripple Labs in a protracted lawsuit against the SEC that began in 2020. A year later, Ripple's chief legal officer, Stuart Alderothy, analyzed the implications of this decision on the cryptocurrency industry.
On July 13, 2023, Judge Analisa Torres ruled that sales and distributions of XRP do not constitute the offer and implementation of investment contracts. However, Ripple’s victory turned out to be partial - the court found that the purchase of coins worth over $700 million by institutional investors violated US laws.
Alderothy noted that this decision set an important precedent for many other companies, including the recent cases with Binance. In his opinion, the courts have found serious abuses on the part of the SEC and a lack of dedication to the law under Gary Gensler's chairmanship.
The lawyer emphasized that the legal proceedings between Ripple and the regulator have not yet been finalized, but expressed confidence that the status of XRP will remain unchanged.
Solana allocated $1 million to reward users who found bugs
The Solana blockchain team has announced the launch of a reward program in which users can earn $1 million for finding bugs in the first version of the Firedancer validator client.
The program, announced by an anonymous developer under the pseudonym Cantelope Peel and supported by the Immunefi platform, will begin on July 10 and will last six weeks. To receive a reward, participants must complete the KYC verification procedure.
Buterin offers new protection against attacks on Ethereum
Ethereum co-founder Vitalik Buterin called for better preparation of the network for a possible 51% attack. A 51% attack in Proof-of-Stake occurs when an attacker controls more than half of all coins, allowing him to manipulate transactions, double spend, rewrite block history, and censor the network. The last threat, according to Buterin, is the most serious.
He suggested that honest validators switch to a blockchain fork, which is based on social consensus. Buterin believes that the technology layer should provide an obvious candidate for a soft fork so that the community can rally around it.
He also emphasized the importance of developing second-layer solutions and widespread implementation of light Ethereum clients that support verification in the context of zkEVM. In addition, Buterin noted the threat from quantum computers to Merkle trees, consensus signatures, blobs and user accounts, suggesting solutions for each. Buterin noted the need to further simplify the protocol for the convenience of users and developers.
Binance exchange celebrated 7 years
On July 14, the Binance cryptocurrency exchange turned seven years old. CEO Richard Teng shared statistics and plans. According to him, the key achievement was the growth in the number of users to 200 million worldwide.
The exchange supports 541 digital assets and 2,632 trading pairs, and the request record reached 2.58 million per second. From June 2023 to May 2024, Binance processed approximately 62,800 requests from law enforcement agencies, bringing the total to 173,800.
On November 21, 2023, Teng became CEO instead of Changpeng Zhao, who left his post as part of a deal with the US Department of Justice. The platform agreed to pay $4.3 billion in fines, and Zhao is serving a four-month sentence in a federal prison in Lompoc, California.
The new CEO promised to transform the exchange by introducing a traditional corporate structure with a board of directors, headquarters and financial transparency.
Lionel Messi promotes meme token on Solana network
Argentine soccer legend Lionel Messi is promoting a Solana-based meme coin called WaterCoin (WATER) through his Instagram Stories.
According to the documentation, the WaterCoin project is focused on environmental goals. Its roadmap includes four stages: Rain, River, Sea and Ocean. These milestones include pre-sale of the token, listing on centralized exchanges, partnerships with famous personalities and the development of the coin into a “charitable environmental currency” with global distribution. However, shortly after launch, the price of the token dropped sharply, raising suspicions among traders and leading some to call it a scam token.
