Značka: Developers

StarkNet makes Cairo 1.0 open source in first step toward community control

Zero-knowledge (ZK)-Rollup tech company StarkWare has officially open sourced its new programming language compiler, Cairo 1.0, which will soon be supported on Ethereum layer-2 scaling solution StarkNet in Q1 2023. The news was announced by StarkWare — the company behind StarkNet — in a Nov. 25 Twitter post. StarkWare’s rollup technology and recursive proofs offer the potential to compress millions of transactions on L2 into a single transaction on Ethereum, however the project has been criticized for maintaining control over its IP, not least of all by its more open source focused competitor zkSync.StarkWare described open sourcing Cairo as a “milestone move” in its quest to hand over more control and intellectual property rights to its community and developers. Cairo is a programming language written specifically to harness the power of zk rollups and validity proofs.The day has come: a first look into Cairo 1.0, fully open-source This is a big step towards open-sourcing the StarkNet stackYou can now get familiar with the new syntax, compile and run simple programs locally. #StarkNet support is coming soonhttps://t.co/0tdZDhopEP— StarkWare (@StarkWareLtd) November 24, 2022StarkWare stated that developers can now experiment with Cairo 1.0 by compiling and executing simple applications until it is fully supported on StarkNet in Q1 2023.At that point Cairo 1.0 will enable faster feature development and allow for more community involvement, according to Starkware Exploration Lead and former Ethereum core developer Abdelhamid Bakhta.“We’re continuing to open source the StarkNet tech stack, beginning with Cairo 1.0. We’re doing this in order to fulfill StarkNet’s vision as a public good that anyone can use, and that the community can constantly improve,” he said. “On a practical level this maximizes transparency about our code, and our coding process. And it strengthens the community’s ability to find bugs and improve the compiler. With each aspect of the tech stack that is open sourced, this sense of community involvement will grow and grow.”Once in production, Cairo 1.0 will also enable blockchain developers to write and deploy smart contracts to StarkNet, according to StarkWare’s Medium post. StarkWare added that because Cairo 1.0 makes every computation “provable,” StarkNet’s censorship resistance properties will be strengthened and it’ll also be better positioned to respond to Denial-of-Service attacks.StarkWare’s STARK tech stack powers a number of Web3 projects including decentralized exchange (DEX) platform dYdX (although this is moving to its own chain on Cosmos), NFT-platform Immutable X and blockchain interoperability protocol Celer Network.Related: 60 million NFTs could be minted in a single transaction — StarkWare co-founderStarkNet has taken a gamble by using Cairo to speed up its solution, which is not natively compatible with the Ethereum Virtual Machine (EVM). However Ethereum software tooling firm Nethermind built a transpiler called Warp that converts Solidity code into Cairo code. Competitor zkSync’s EVM-compatible mainnet is in the process of being launched.But despite taking a more difficult path, StarkWare founder Eli Ben-Sasson recently told Cointelegraph that using custom built programming language like Cairo, as opposed to Solidity, was the only viable way to take full advantage of Ethereum scaling afforded by ZK rollups:“I’m willing to bet that you won’t see a full blown ZK EVM that can put a million transactions inside a single proof on Ethereum. As we can easily do today and have been doing for months and years.”The news comes as Starkware also recently deployed the new StarkNet token (STRK) on Ethereum on Nov. 17, which will be used for staking and voting purposes in addition to paying fees on the network.

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THORChain network resumes following 20-hour chain halt

Cross-chain exchange and proof-of-bond network THORChain announced it was once again “fully operational” after an outage of more than 20 hoursIn an Oct. 28 tweet, the THORChain team said the network was “back online and producing blocks” and had reenabled trading. The network was halted on Oct. 27 after the team said a bug had caused “non-determinism between individual nodes.”“Turns out to be string manipulation: code was pushing a cosmos.Uint (instead of a uint64) into a string, which causes the string to get the point of the big int instead of the actual value, causing the memo string to be different on different nodes,” said the THORChain team following the chain halt. “Didn’t see this in stagenet because the bad memo never gets written to disk/block, because it gets swapped immediately.”The network is now fully operational after an outage of approximately 20.5 hours. Post-mortem will be released next week https://t.co/QxttVp6Qvy— THORChain (@THORChain) October 28, 2022A THORChain spokesperson told Cointelegraph that the chain had been halted for safety reasons but that it planned to “revert once the source of non-determinism is found.” However, token-swapping platform THORSwap reported during the outage that its platform was still allowing Ethereum and ERC-20 swaps. Related: WhatsApp down again? Google searches spike after the outageOther major blockchains have reported network outages affecting users. Solana co-founder Anatoly Yakovenko said in September that outages — reportedly the result of low-cost transactions — had been the blockchain’s “curse,” with at least seven since its launch in 2020.Following reports of the outage, the price of THORChain’s native token, RUNE (RUNE) fell from $1.57 to $1.49 — more than 5.6% — within 24 hours, but it has since returned to $1.55.

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Celo ecosystem projects raise $77.3M in support of interoperability, ReFi

Projects building on the Celo blockchain have collectively raised $77.3 million in support of various business initiatives, underscoring the growing adoption of the payments-focused developer network. Celo announced Thursday that projects impactMarket, Loam, Tatum, Circular Impact, Sanergy, Hyperlane, RedStone and Jia had secured the funding to further the adoption of Web3 business models. The biggest raise came from blockchain development platform and early Celo Foundation grant recipient Tatum, which secured $41.5 million. Hyperlane, an interchain communication protocol focused on interoperability, secured $18.5 million in seed funding led by venture firm Variant. Projects focused on regenerative finance (ReFi), including impactMarket, Loam and Sanergy, raised a combined $6 million. ReFi is an emerging paradigm within the crypto community focused on using blockchain and Web3 technology to address environmental and social issues. On the decentralized finance (DeFi) side, RedStone secured $7 million and Jia added $4.3 million in pre-seed funding.Celo was founded in 2017 by former GoDaddy executives Rene Reinsberg and Marek Olszewski. The Celo platform provides payment infrastructure for digital assets through the use of mobile devices, with phone numbers acting as a proxy for private keys. In 2018, the company raised $6.5 million with backing from Twitter co-founder Jack Dorsey and Citigroup chairman Dick Parsons, among others. Related: FTX and Visa partner to permit crypto payments in 40 countriesWhile crypto remains in a bear market, blockchain developers continue to attract venture financing in aniticpation of growing ecosystem adoption in the future. Andreessen Horowitz, one of the biggest investors in the space, remains committed to the crypto sector despite incurring billions of dollars in short-term losses due to the bear market. 

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ConsenSys commits $2.4M annually to launch MetaMask Grants DAO

Blockchain technology firm ConsenSys will spend $2.4 million annually to fund its newly launched MetaMask Grants DAO aimed at driving further development of the Web3 ecosystem.The fund will be led by MetaMask employees who will manage the decentralized autonomous organization (DAO). The DAO will be responsible for issuing grants to developers working outside of ConsenSys that are building products and services within MetaMask’s ecosystem and the wider Web3 space.The project will initially run for 12 months to assess its viability and success, with the DAO processing votes and proposals publicly through SnapShot on the Codefi Activate platform. ConsenSys is committing $600,000 per quarter in an effort to drive decentralization and adoption of Web3 mechanisms and business models.MetaMask’s global product lead Taylor Monahan highlighted the focus on decentralized development as a catalyst for further growth in a statement shared with Cointelegraph:“Not only will this accelerate growth for crypto-comfortable users, but this will also boost adoption for crypto-curious individuals with more paths to participate in.”The DAO itself is made up of three components. The first is the employee-led DAO which consists of more than 900 full-time ConsenSys employees. These employees will be able to opt-in to be Grants DAO members, all of whom have equal voting rights.Related: The blue fox: DeFi’s rise and the birth of Metamask InstitutionalThe second part is a leadership committee, or mini-DAO, made up of seven individuals. This committee will be responsible for identifying high-potential projects, creating governance proposals and updating external content. They will also gather feedback and drive improvements to the DAO.The final part is a secure multisignature wallet overseen by ConsenSys that will manage the token contract and treasury. It will also sign transactions for fund disbursement as well as mint and burn tokens as employees join or leave the company.The leadership committee of MetaMask Grants DAO includes the co-founders of MetaMask, its global product lead, Snaps Studios lead, senior DAO strategist, as well as ConsenSys’ director of strategic initiatives and product management director.The funding of the DAO will feature two types of grants. The Leadership Committee Grant will be voted on solely by its seven members, while DAO Grants will be allocated for the entire DAO to vote on.

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