gm, readers.
At Automata we work on protecting privacy and fairness. And in this newsletter, we find more reasons to talk about it. Explore headlines and catch up on the biggest crypto news in Web3 privacy.
This week:
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Obscuro Labs, developer of Ethereum Layer 2 TEN (The Encrypted Network) raises $9 million in a funding round
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Metis launches Alpha Version of Decentralized Sequencer
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EigenLayer announces gradual mainnet rollout
Zooming into ZK:
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Space and Time collaborates with zkSync to launch a verifiable compute layer on a zkSync hyperchain
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Polyhedra Network closes $20 million funding round led by Polychain Capital
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Citrea open-sources BitVM ZK (Groth16) Verifier
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Manta launches Restaking Paradigm for LRTs
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Swell announces zkEVM Layer 2 for restaking
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Libre launches a zk Layer-2 chain for institutions to tokenize alternative assets
We dive into the details, so you don’t have to:
EigenLayer’s mainnet is set to be launched soon, as the protocol emphasized a phased approach to ensure security and optimal performance. The process begins with a final testnet phase, moving from the Goerli chain to Holesky due to support changes, involving over 6,000 operators in testing. Following this, there will be a temporary pause of the EigenLayer webapp and contracts to manage deployment and operator onboarding smoothly. The completion of the mainnet launch will pave the way for a growing ecosystem of Actively Validated Services (AVS), with more teams expected to deploy innovative solutions on the EigenLayer mainnet.
Citrea’s open-sourced its BitVM ZK Verifier, which includes a complete flow from generating a ZK proof to creating a verifier in the current WIP BitVM instruction set. The project aims to enable the verification of anything on Bitcoin through the use of zero-knowledge proofs. Eventually, Citrea aims to open-source two more components, the BitVM-based bridge program and a full node implementation.
Libre has launched as a specialized Layer 2 blockchain, focused on tokenization and built using Polygon's CDK. It aims to facilitate the compliant tokenization of assets for institutional use, enhancing capital efficiency. The platform's design as an application-specific blockchain allows it to dedicate its resources to the tokenization of financial assets, making transactions more economically viable and efficient.
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This newsletter is for informational purposes only. It is not intended to be a substitute for professional financial advice or interpreted as investment advice. Cryptocurrencies are volatile assets and you should always do your own research before making any informed decisions when investing or trading.