TLDR Crypto 2022-06-08

Citadel Securities is building a cryptocurrency trading ecosystem intended to create more efficient access to deep pools of liquidity for digital assets. The firm has been quietly hiring executives to build out a crypto trading stack. It aims to facilitate the safe, clean, compliant, and secure trading of digital assets. Wealth managers, market makers, and other industry leaders are expected to join the marketplace ahead of launch. Citadel Securities is helmed by crypto skeptic Ken Griffin, who had earlier said that crypto was a 'Jihadist call' against the US dollar.

Chainlink is introducing staking with an initial v0.1 release projected for later this year. Staking will increase the cryptoeconomic security and user assurances of Chainlink services, enable community participation in the Chainlink Network, generate sustainable rewards from real long-term use, and empower node operators to access higher-value jobs by staking. The initial staking pool will be capped in size and offer annualized staking rewards of up to 5%. More details about how Chainlink plans to roll out staking are available in the article.

PayPal users in the US will soon be able to withdraw cryptocurrency from their accounts to other wallets and exchanges. The feature is now available to select users, with a wider rollout planned for the coming weeks. It has been the most demanded feature since PayPal began offering the purchase of crypto on its platform in 2020. Customers will be responsible for network fees. They will need to go through an identity verification process before they can transfer any crypto.

Circle's USDC stablecoin is now available on the Polygon blockchain. Polygon now features roughly 20,000 decentralized apps. The addition of Polygon USDC will help smooth over Polygon's fiat onramp and user experience. USDC can now be used on Ethereum, Algorand, Solana, Stellar, Avalanche, Flow, Tron, Hedera, and Polygon. USDT was added to Polygon in May.

mev-boost is a neutral middleware by Flashbots that allows builders to openly compete in making the best blocks. Block production consists of building the best block from all available transactions and proposing the block to the network. mev-boost will especially help solo validators and it will increase Ethereum's censorship resistance by increasing the number of builders. Many more details about mev-boost are available in the thread.

This Twitter thread presents a basic guide on what the Ethereum Virtual Machine (EVM) is and how it works. It covers what a virtual machine is, clients, storage, transactions, execution, Merkle Patricia tries, Opcodes, and much more. A link to an article with an in-depth explanation of how the EVM works is provided at the end of the thread.

The process in deciding to join a web3 team is similar to the process that an investor might go through when evaluating an investment opportunity. Both decisions seek to maximize returns across several metrics that enable growth and opportunities later on. It makes sense to perform due diligence as a job candidate. This article discusses evaluating web3 job opportunities like an investor and presents ways to perform due diligence on web3 companies.

Most hacks in web3 are preventable. Security considerations should be an integral part of development and not just an afterthought. This article outlines the core security fundamentals that web3 builders, developers, and security teams must consider when designing, developing, and maintaining a secure smart contract system. It presents a framework that should be implemented throughout the software development lifecycle.

A bill that attempts to tackle the biggest questions hanging over digital assets was introduced on Tuesday. It sets new laws for stablecoins, taxes on small-scale payments, and the jurisdictions of regulators. The bill will make transactions of less than $200 tax-free, define the terrain between crypto securities and commodities, define crypto brokers, create a framework for banks and credit unions to issue stablecoins, give legal clarity over how exchanges are to handle customer holdings, and give the Commodity Futures Trading Commission authority over spot markets in crypto commodities. More details about the bill are available in the article.