NEAR Protocol

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The protocol was at the center of some recent hacks and exploits in decentralized finance, including a $375-million attack in February and a $100-million hack in June.

cointelegraph.com

US Treasury sanctions USDC and ETH addresses connected to Tornado Cash


Hashstack is thrilled to announce its strategic shift to Starkware developed Starknet — the first general-purpose permissionless Decentralized ZK-Rollup, to deploy Open — Hashstack’s money-market protocol and enable secure, under-collateralized loans on the blockchain. 



With this, Hashstack shifts its focus from EVM chains to zk-primitives to further its mission to build the critical infrastructure necessary to 10x the usability of decentralized finance, to truly empower financial inclusion through crypto.



What Are Zk-Rollups?



Ethereum is the most popular blockchain development platform. 26.65% of all dApps in existence are deployed on Ethereum. Today, 9 out of 10 dApps get deployed on Ethereum or EVM-based L1. This is primarily due to lower development barriers & matured ecosystem of developers and resources. On the flip side, the increased network load consistently leads to exorbitant gas fees and slower transaction times, which greatly impacts the network’s scalability.



This matters because blockchain has made significant strides over the past few years, with a projected CAGR of 56.3% between 2022 to 2029. This might not be possible if the predicaments of today continue to exist. L2 scalability protocols such as zk-Rollups operate by rolling up hundreds of off-chain transactions into a single transaction. 



They return a short non-interactive argument of knowledge(SNARK) to the main chain as proof of validity. This ensures that instead of hefty transaction data, only the validity proof has to be kept on the main Ethereum network, making ZK Rollups a faster and cheaper way to confirm transactions. StarkNet, is a permissionless decentralized ZK-Rollup operating as an L2 network over Ethereum, where any dApp can achieve unlimited scale for its computation without compromising Ethereum’s composability and security.



About Starknet



Future-ready: In development since 2017, Starknet’s one of the few market-ready ZK-rollups with over 205Mn transactions processed, facilitating over $657Bn trading volume to date, instilling confidence in the network’s reliability.The community: Arguably the most collaborative ecosystem of builders we have come across. Adopting an entirely new development framework comes up with its own set of challenges. Starkware team’s success in building an open-minded, collaboration-centric community made it 10x easier for Hashstack’s team to evaluate & deploy on Starknet. Additionally, Starkware incentivized Hashstack for building & deploying on Starknet.Cairo Lang: Powers Starknet’s virtual machine is a Turing complete language with syntax similar to Python. Compared to Solidity, Cairo is less restrictive & provides full low-level access to low-level primitives.



About Hashstack



Hashstack builds the critical infrastructure necessary to further the usability of decentralized finance. Hashstack’s solution to the over-collateralization problem in DeFi lending, Open is a non-custodial, zk-native money-market protocol designed to enable secure under-collateralized loans on-chain.



Startknet: Website



Hashstack: Website
The post Announcing Hashstack’s Switch to Starknet appeared first on BeInCrypto.


Hashstack is thrilled to announce its strategic shift to Starkware developed Starknet — the first general-purpose permissionless Decentralized ZK-Rollup, to deploy Open — Hashstack’s money-market protocol and enable secure, under-collateralized loans on the blockchain. With this, Hashstack shifts...

beincrypto.com

Announcing Hashstack’s Switch to Starknet

[PRESS RELEASE – Bengaluru, India, 8th August 2022]
Hashstack is thrilled to announce its strategic shift to Starkware developed Starknet — the first general-purpose permissionless Decentralized ZK-Rollup, to deploy Open — Hashstack’s money-market protocol to enable secure, under-collateralised loans on the blockchain. With this, Hashstack shifts its focus from EVM chains to zk-primitives to further its mission to build the critical infrastructure necessary to 10x the usability of decentralised finance, to truly empower financial inclusion through crypto.
What Are Zk-Rollups
Ethereum is the most popular blockchain development platform. 26.65% of all Dapps in existence are deployed on Ethereum. Today, 9 out of 10 dapps get deployed on Ethereum, or evm-based L1. This is primarily due to lower development barriers, & matured ecosystem of developers, and resources. On the flip side, the increased network load consistently leads to exorbitant gas fees and slower transaction times; which greatly impacts the network’s scalability. This matters because blockchain has made significant strides over the past few years with a projected CAGR of 56.3% between 2022 to 2029. This might not be possible if the predicaments of today continue to exist.
L2 scalability protocols such as zk-Rollups operate by rolling up hundreds of off-chain transactions into a single transaction. They return a short non-interactive argument of knowledge(SNARK) to the main chain as proof of validity. This ensures that instead of hefty transaction data, only the validity proof has to be kept on the main Ethereum network, making ZK Rollups a faster and cheaper way to confirm transactions. StarkNet, is a permissionless decentralized ZK-Rollup operating as an L2 network over Ethereum, where any dApp can achieve unlimited scale for its computation, without compromising Ethereum’s composability and security.
About Starknet
Future-ready: In development since 2017, Starknet’s one of the few market-ready ZK-rollups with over 205Mn transactions processed, facilitating over $657Bn trading volume, to date; instilling confidence in the network’s reliability.
The community: Arguably the most collaborative ecosystem of builders we have come across. Adopting an entirely new development framework comes up with its own set of challenges. Starkware team’s success in building an open-minded, collaboration-centric community made it 10x easier for Hashstack’s team to evaluate & deploy on Starknet. Additionally, Starkware incentivised Hashstack for building & deploying on Starknet.
Cairo Lang: Powers Starknet’s virtual machine, is a Turing complete language with syntax similarity to Python. Compared to Solidity, Cairo is less restrictive & provides full low-level access to low-level primitives.
About Hashstack
Hashstack builds the critical infrastructure necessary to further the usability of decentralised finance. Hashstack’s solution to the over-collateralisation problem in DeFi lending, Open is a non-custodial, zk-native money-market protocol designed to enable secure under-collateralised loans on-chain.
The post Hashstack Has Made the Switch to Starknet appeared first on CryptoPotato.

[PRESS RELEASE &#8211; Bengaluru, India, 8th August 2022] Hashstack is thrilled to announce its strategic shift to Starkware developed Starknet — the first general-purpose permissionless Decentralized ZK-Rollup, to deploy Open — Hashstack’s money-market protocol to enable secure, under-collateral...

cryptopotato.com

Hashstack Has Made the Switch to Starknet

Beanstalk Farms stablecoin protocol was relaunched on Aug. 6 with the team working to hopefully reclaim the $100 million market cap of its BEAN stablecoin prior to the hack in April.   

Once-hacked for $77M, Beanstalk's algo stablecoin protocol relaunches

The past few weeks have brought a positive twist in the flow of events within the cryptocurrency market, especially for Uniswap. Lots of the crypto assets are gaining more value in their prices. This overturns after the severe crypto winter that puts lots of protocol at the edge.
Most witnessed drastic price drops up to 50% since January 2022. The last chaos in the crypto space was better imagined than described.
Additionally, the collapse of the algorithmic Terra stablecoin and its native token, LUNA, spiked the downward trend. Several investors lost millions of dollars, creating tension in the entire crypto industry. Some crypto service companies were thrown off balance as they struggled to be their ship afloat.



However, a few of them still went bankrupt with most of their depositors’ funds locked on their platforms. Some participants in the industry are beginning to lose confidence in digital assets as fear, uncertainty, and doubt gradually crept in.
All seems to be going progressively well for Uniswap, as its native token, UNI, increases its price value. The strength of its price increase has put Uniswap in ranking by market cap among the top 15 cryptocurrencies.
In addition, the Ethereum-based decentralized protocol has experienced a significant surge in value, reaching 150% over the past seven weeks.
Uniswap Sentiment Activity l Source: Sentiment
According to data from Santiment, an on-chain analytics firm, there has been an increased and substantial whale accumulation of the UNI tokens. This explains its recent price rally as well as the surging address activity.
Santiment reported that the Uniswap daily active addresses have risen to over 1,100. With the presence of strong address activity on the network, the protocol has the potential to sustain the current price action.
Uniswap Whale Addresses Push Positive Moves
Uniswap whale addresses have shown a positive move since the crypto crash of May 2022. The addresses have accumulated vast amounts of UNI tokens ranging in massive percentages. In their performance, whale addresses containing up to 100 thousand to 1 million UNI tokens have undergone massive accumulation within the past two weeks.
Also, Santiment noted that the level of transactions they deem to be prominent are those taking about $100,000 or more. It mentioned that such transactions are from the whales and moving back to those seen in May levels.

So, it stated that all the recent significant transactions from the whales are noticeable. This is because such moves accumulated just in the past week before the price climbed to $9.69.
Uniswap has recently gained massive traction recently l Source: UNIUSDT on TradingView
Besides its price rally, Uniswap has increased its active average trader returns. It currently recorded over 22.5% in its 30-day MVRV.
According to the report from Santiment, the current value is clearly above the danger zone. Despite Uniswap’s impressive price rally, Santiment has advised investors to tread with caution with the protocol.
Featured image from Pexels, charts from TradingView.com


The past few weeks have brought a positive twist in the flow of events within the cryptocurrency market, especially for Uniswap. Lots of the crypto assets are gaining more value in their prices. This overturns after the severe crypto winter that puts lots of protocol at the edge. Most witnessed d...

NEAR Protocol price	$5.51
Low - High 24H	$4.97 - $5.70
Market cap	$4.14B
Volume 24H	$499.43M
All time high	$20.44 -73.15% January 16th 2022
All time low	$0.526762 941.71% November 4th 2020
Genesis date	N/A

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