4 altcoins closely followed by Turkish investors announced their important network development activities. PancakeSwap (CAKE), in particular, is preparing to upgrade to a new version next month.
Aave seeks new altcoin networks to expand ZkEVM scaling solution
DeFi protocol Aave has reported that it is considering expansion to Polygon zkEVM, a scaling solution that will release its mainnet beta on March 27. According to a management proposal created by Marc Zeller of the Aave team, Polygon zkEVM’s implementation can be used to deploy the minimum viable product (MVP) of Aave v3 to increase its presence on new and highly anticipated platforms.
Aave plans to limit the use of three cryptocurrencies as collateral and set less risky parameters to implement Polygon zkEVM. Cryptocurrencies covered include Ethereum (ETH), Polygon (MATIC), and stablecoin USDC.
The proposal also suggests that Aave may explore launching its own stablecoin, GHO, on Polygon zkEVM in the future. Polygon zkEVM, formerly known as Polygon Hermez, is a second-layer scaling solution based on zero-knowledge proofs (ZK roll-up) that collects off-chain transactions and stores cryptographic proof created only on the Ethereum network.
Polygon’s technical lead explains what to expect from zkEVM
In a recent statement from Polygon’s team regarding zkEVM, Jordi Baylina, who led the technical team that built Polygon zkEVM, said, “The project is a complete engineering project. The idea is that we somehow built a processor with these electronics. On top of that, a program that processes transactions can be written.”
In a YouTube video released March 2, Baylina explained the technical components behind the rollout: “The system we’re building is censorship-proof. It’s not a perfect solution, but up to a point because the system is not universal. We created the assembly itself. It’s a new processor, new assembly, new way of writing hardware.
Zero-knowledge (ZK) technology is a cryptographic solution that is reshaping the blockchain industry. They execute languages and low-level bytecode at a programmable level, supported by the same rules as Ethereum. As additional information, Vitalik Buterin, the founder of Ethereum, divides zkEVMs into four main types:
- Type 1 zkEVMs: fully equivalent to Ethereum
- Type 2 zkEVMs: EVM (not Ethereum) equivalency
- Type 3 zkEVMs: exit EVM
- Type 4 zkEVMs: close cousins of the EVM
Gitcoin founder announces super launchpad model for altcoin projects
Gitcoin co-founder Kevin Owocki unveiled the ReFi launchpad modular at ETHDenver, the Web3 hackathon and conference that took place in the Colorado capital this week.
Supermodular aims to be a startup studio for regenerative Web3 projects. With millions of people lassoing decentralized finance during the crypto bull market, Supermodular wants to focus on renewable finance projects instead. Popularized by Owocki and Gitcoin co-founder Scott Moore, ReFi is all about capitalizing on the positive aspects of DeFi while subverting its more exploitative features.
Owocki describes Supermodular as an “incubator” designed to help developers develop Web3 technology while simultaneously “protecting critical resources and global public goods.” ReFi launchpad, announced at ETHDenver, will act as a startup studio for regenerative Web3 projects. cryptocoin.com In this article, we have included Web3 projects that are one step ahead of their competitors.
PancakeSwap sets date for V3 upgrade
Binance-backed decentralized exchange PancakeSwap has announced that its V3 upgrade will be released on BNB Chain in the first week of April. PancakeSwap, with a total transaction volume of 438 billion dollars, will present its new features to its users.
PancakeSwap’s V3 update will be released on BNB Chain. CAKE price started to move upwards after the recent announcement. It is trading at $3.81 at the time of writing.
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