TLDR Crypto Daily Update 2022-04-19

Moonbirds $280M launch 🐦, Monero's hard fork ⚑, building blockchain economies 🏦

Innovation & Launches

Monero community reaches consensus for July hard fork (1 minute read)

The Monero network has passed a community consensus to initiate a hard fork at block height 2,668,888. The hard fork will increase the chain's ring size to 16, reduce wallet scanning time, introduce bullet proofs, and implement fee changes. It will make it even harder to reverse engineer the sources of transactions and result in faster encryption and verification on the blockchain. The popularity of privacy coins has been surging lately due to recent market turmoil.

Kevin Rose’s Moonbirds Ethereum NFT Launch Generates $280M in Two Days (4 minute read)

Moonbirds, a new Ethereum NFT project from Kevin Rose's PROOF Collective, has already generated $280 million in sales. The profile picture collection has a total of 10,000 images. 7,875 of the NFTs were released for sale for 2.5 ETH each. 2,000 of the NFTs were given to holders of the PROOF Collective NFT membership pass. Moonbirds NFT holders receive benefits such as access to channels in the PROOF Discord server.
Guides & Resources

One SaaS to Rule Them All (10 minute read)

The most profitable method of staking ETH is offered by Rocket Pool. However, no one wants to run a node. This article presents an outline for a potential Rocket Pool platform. It discusses ideas for making the platform successful, as well as potential problems that need to be solved.

What are MoonBirds and why is your twitter feed filled with fomo and/or cope about them? (4 minute read)

This Twitter thread introduces the Moonbirds NFT collection, the team behind it, and looks at why they are worth so much. Kevin Rose, Ryan Carson, and Justin Mezzel, the team behind the project, are very well known in both web2 and web3. Ownership of a Moonbirds NFT grants access to the PROOF discord, Moonbird-related drops, real-life events, staking benefits, the possibility of virtual land and a token drop, and more.

Developing ZKP for a web3 app is like developing backend for a web2 app (2 minute read)

In web2, the backend usually takes care of security and privacy. web3 frontends communicate directly with smart contracts. Adding zero-knowledge proofs between a frontend and a smart contract opens up new possibilities for web3 apps like privacy, compression, and lower gas costs. However, this will increase computation times and cryptographic key size when too many operations are made. The research is still very active in this field.

7 industrial policies from nation states that layer 1 chains can adopt for exponential growth (3 minute read)

Every successful country in the world grew its economy with active government intervention. An effective public authority is able to steer national resources to industries with the most strategic importance. This Twitter thread suggests seven industrial policies that blockchains can adopt for exponential growth: subsidize strategic industries, attract foreign direct investments, protect firms from foreign competition, sponsor research and development, invest in public goods, build public-private partnerships, and create institutional apparatus for industrial policy. It provides examples and blockchain equivalents for each suggestion.

Andre Cronje sees a 'necessity for regulation' ahead of crypto's new era (2 minute read)

Andre Cronje has resurfaced with a blog post on Medium titled 'The rise and fall of crypto culture'. In the post, Cronje writes about his disdain for the crypto culture and his love of the crypto ethos. He suggests that legislation is the best way to stop the crypto community from hurting itself. The response from the community was not very supportive.

Ethereum post-merge staking rewards will likely be lower than anticipated (3 minute read)

The Ethereum Merge will not be ready before the end of the third quarter. Staking rewards after the Merge are now estimated to be far lower than previously anticipated. More ETH has been staked since the launch of stETH, a staking derivative token, but the rise in staked ETH has caused rewards to decrease proportionally. The reward is likely to be around 7% if the Merge goes live in September.

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