- Crypto had a volatile morning, with prices dropping sharply after the DOJ announced they were making a statement regarding crypto. Fears were relieved when the announcement was the DOJ taking enforcement action against Russian exchange Bitzlato and didn't have to do with any material regulation in the U.S. Prices began to recover, with $BTC currently down 1.27% and $ETH down 1.63%. December PPI was released today and came in softer than expected at +0.1% (+0.3% November), signaling that inflation continues to fall. Most altcoins have lagged behind Bitcoin and Ethereum today, but there have been a few standouts. Particularly $SHIB, which has risen 10.02% after the announcement of its Shibarium Layer 2. Liquid staking providers $LDO and $RPL have continued to outperform, leading into Ethereum's Shanghai upgrade, rising 2.3% and 4.76%, respectively.
- EY and Polygon are preparing to release an updated version of Nightfall, which uses zero-knowledge proofs to ensure data privacy. Nightfall leverages ZK technology for its privacy benefits while avoiding an overbearing computational load, allowing transactions to be processed quickly and inexpensively. This update will make the code fully decentralized, meaning it can run anywhere with no single entity in control. EY's Nightfall has been five years in the making and will allow businesses to shield the content of transactions on the Ethereum blockchain. The update has entered its final production phases and should be ready for deployment in May this year.
- Shanghai, China is continuing to invest in the metaverse. The Shanghai Municipal Commission of Economy and Informatization announced a program to turn 20 different urban locations into "major metaverse application scenarios" that will feature digital technology. The implementation will cover various social fields, including education, entertainment, and healthcare. These efforts are part of Shanghai's plan they announced in July last year, which declares that the city aims to become a $52 billion metaverse cluster by 2025.
EY and Polygon Prepare to Release Nightshade and China Moves Forward with Metaverse Plans
Jan 18, 2023
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