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Weekly P2P News · Jul 21, 2024

P2P News - June/July 2024

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Alex Mirran · Weekly P2P News

Distributed Compute Network, Lilypad has launched into Incentivnized Testnet with hundreds of GPUS on-boarding to earn Lilybit_ rewards credits

Q2 2024 saw over $2.8 trillion in Stablecoin trading/usage volume

Indian crypto-asset exchange, WazirX hot wallets compromised with $230 million in crypto stolen from the exchange

US Bitcoin ETFs hold over $61 billion in BTC

Privacy focused Brave Browser hits a record of over 28.2 million daily active users

  • Brave rewards users with BAT tokens for viewing ads

Top Ethereum ZK rollup networks

  • ZK rollups function through a combination of on-chain contracts and off-chain virtual machines in the following manner:  

    1. On-chain Contracts: Smart contracts on the mainnet define the rules for transactions in the ZK Rollup.

    2. Off-chain Virtual Machine: Transactions happen off-chain in a separate virtual machine, achieving significant cost reduction and speed benefits.

    3. Zero-Knowledge Proof Generation: A cryptographic proof is generated, demonstrating the validity of the entire batch of transactions without revealing any individual details.

    4. On-chain Proof Verification: This proof is submitted to the mainnet and verified by validators, ensuring the integrity of the off-chain transactions.

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