Top Stories of The Week
Bitcoin can be made quantum-safe without protocol upgrade: Researcher
A Bitcoin researcher has come up with a way that could immediately make Bitcoin transactions quantum-safe without the need for a soft fork.
In a proposal published Thursday, StarkWare chief product officer Avihu Levy proposed a Quantum Safe Bitcoin (QSB) transaction scheme that he said would remain secure “even against an adversary with a large-scale quantum computer running Shor’s algorithm.”
He added that the plan requires no changes to the Bitcoin protocol and operates entirely within the existing legacy script constraints. The downside is that it is costly and likely is not useful for everyday transactions, he said.
The Bitcoin community has been split on how to tackle the quantum problem. QSB presents a temporary solution while a long-term approach is ironed out.
The plan’s main feature is replacing the proof-of-work signature-size puzzle with a hash-to-sig puzzle.
CZ hopes in 5 years people stop talking about crypto and just use it
Binance co-founder Changpeng “CZ” Zhao said he hopes that cryptocurrencies and blockchain will simply become an invisible part of daily infrastructure by 2031, much like the internet today.
Speaking on Scott Melker’s Wolf of All Streets podcast posted Thursday, Zhao said that while new use cases and advances will continue to emerge, he hopes talk of the technology will subside as it becomes part of everyday life.
“I’m hoping that we don’t talk about crypto as crypto in five years, just like we don’t talk about the internet anymore, we don’t talk about TCP/IP, we don’t talk about HTML, JavaScript, etc. We don’t talk about that stuff anymore. We just use it.”
Coinbase CEO backs US Treasury Secretary‘s push to pass CLARITY Act
Brian Armstrong, the Coinbase CEO who withdrew the crypto exchange’s support for the Digital Asset Market Clarity Act in January, said “it’s time” for the legislation to pass after months of delays.
In a Thursday X post, Armstrong said that Coinbase agreed with comments from US Treasury Secretary Scott Bessent in a recent Wall Street Journal op-ed, in which he urged Congress to act on the crypto bill soon. According to the CEO, the current version of the legislation, after months of negotiations between lawmakers and representatives from the crypto and banking industries, was a “strong bill.”
“It’s time to pass the Clarity Act,” said Armstrong.
BlackRock Bitcoin ETF sees $269M inflows, best day since early March
Investors piled $269.3 million into BlackRock’s iShares Bitcoin Trust on Thursday, in its best-performing day since early March, around the time the US-Iran war started to kick into high gear.
The inflows helped to end two days of net outflows among the 12 US spot Bitcoin ETFs, which recorded a net inflow of $358.1 million.
The Fidelity Wise Origin Bitcoin Fund (FBTC) brought in the second most inflows at $53.3 million, while the new Morgan Stanley Bitcoin Trust (MSBT) was the next biggest contributor, recording $14.9 million on its second day of trading, according to data from Farside Investors.
The Bitcoin ETFs issued by Bitwise and ARK 21Shares saw $11.7 million and $4.8 million worth of inflows, while Franklin Templeton and VanEck’s Bitcoin products tallied around $2 million.
Yuga Labs settles lawsuit against artists accused of copying its NFTs
Bored Ape Yacht Club creator Yuga Labs has settled its long-running lawsuit with a pair of artists accused of profiting off lookalike NFTs.
According to documents filed in the District Court for the Central District of California on Tuesday, Yuga Labs and artists Ryder Ripps and Jeremy Cahen told the court they had reached a settlement agreement.
As part of the settlement, Ripps and Cahen are permanently banned from using Yuga Lab’s imagery and trademarks and will transfer control of the smart contracts, domains and any remaining NFTs associated with their RR/BAYC project to Yuga Labs within the next 10 days.
The court has also ordered the pair not to “transfer, assign, conceal, or otherwise dispose of any NFTs, domains, accounts, or other assets referenced in this Injunction, or cause any of the foregoing, for the purpose of avoiding or frustrating compliance.”
Winners and Losers
At the end of the week, Bitcoin (BTC) is at $73,060, Ether (ETH) at $2,284 and XRP (XRP) at $1.35. The total market cap is at $2.48 trillion, according to CoinMarketCap.
Among the biggest 100 cryptocurrencies, the top three altcoin winners of the week are RaveDAO (RAVE) at 744.74%, siren (SIREN) at 63.88% and Dash (DASH) at 53.45%. The top three altcoin losers of the week are World Liberty Financial (WLFI) at 19.05%, Bittensor (TAO) at 10.06% and Algorand (ALGO) at 8.59%.
For more info on crypto prices, make sure to read Cointelegraph’s market…
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