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While the crypto sector has made immense strides over the last couple of years, concerns surrounding its overall scalability and privacy have continued to persist. To this point, even though , the worlds second-largest crypto network by market cap, has grown and garnered widespread adoption, critics have repeatedly pointed out the need for efficient and secure scaling solutions to help the project reach its true potential.

Enter PlasmaCon, an upcoming event organized by INTMAX, a cutting-edge Layer 2 zkRollup with a stateless architecture, alongside the prestigious EDCON Tokyo 2024 conference. It seeks to reignite the discussion around Plasma tech, Vitalik Buterin's original vision for scaling Ethereum.

Plasma, as proposed by Vitalik Buterin and Joseph Poon back in 2017, was envisioned as a novel solution to bring Visa-level transaction volumes (reportedly between 1,700 - 4,000 transactions per second) to the Ethereum network. While initially overshadowed by the emergence of Rollups, Plasma is now making a comeback, as emphasized by Buterin himself in his blog post "Exit games for EVM validiums: the return of Plasma." Plasma's core concept revolves around creating a separate, high-throughput construction connected to the Ethereum blockchain.

This construction, known as a "Plasma chain," handles off-chain transactions, freeing the main Ethereum blockchain to focus on smart contract execution and security guarantees. By relying on the underlying blockchain's security model, Plasma aims to provide a scalable and secure solution for handling high transaction volumes.

Bringing Together Blockchain's Brightest Minds Recognizing the renewed interest in Plasma and its potential to address Ethereum's scalability challenges, INTMAX has organized PlasmaCon, a builder-focused event set to take place on July 31st, 2024, at the United Nations University in Tokyo. This exclusive event promises to bring together some of the most brilliant minds in the blockchain industry.

With a limited capacity of 400 attendees, PlasmaCon offers an intimate and interactive experience featuring over 15 global experts who will share their knowledge and insights on various topics related to Plasma, privacy, data availability, and decentralized applications (dApps).

The event's stellar lineup includes renowned speakers such as Vitalik Buterin, the co-founder of Ethereum; Justin Drake and Barry Whitehat, researchers at the Ethereum Foundation; Scott Moore, Founder of Public Works and Co-founder of Gitcoin, Suji Yan, Founder of Mask Network (LON:); Ventali T., Co-founder of Lita; and Leona Hioki, renowned Plasma tech researcher and co-founder of INTMAX.

As part of the scheduled discussions and showcases, attendees can expect to delve into several critical themes that have the potential to shape the future of the Ethereum networks (as well as blockchain technology as a whole). One of the primary focuses of the event will be exploring new technologies and protocols designed to enhance Ethereum's scalability, speed, and efficiency. With Plasma making a resurgence, discussions will likely center around its potential to address the network's scalability challenges and its advantages over existing solutions like Rollups.

INTMAX (@intmaxIO) June 13, 2024

Privacy has long been a concern in the blockchain sector, and PlasmaCon aims to address this issue by showcasing the latest advancements in protecting user privacy on the Ethereum network. Beyond this, the conference will also provide valuable insights into various real-world blockchain applications across different industries with experts sharing their perspectives on how these technologies can be leveraged to solve real-world problems and drive innovation.

In a recent interview, Leona Hioki, Co-founder of INTMAX, stated that PlasmaCon has been designed to be the perfect platform for helping bring the spotlight back on Plasma scaling solutions as they stand to truly redefine Ethereums digital architecture in the near future. It's time to revisit Plasma, Statelessness, and Privacy. Join us in Tokyo on July 31st!" she was quoted as saying.

Looking Ahead By actively participating in both Edcon 2024 Tokyo and PlasmaCon, INTMAX is reaffirming its commitment to fostering insightful discussions and supporting innovative builders within the Ethereum ecosystem. Moreover, these gatherings stand to advance niche ideas (such as Plasma scaling), address industry challenges, and showcase INTMAX's diverse capabilities to drive innovation within the crypto sector.

Therefore, as the industry continues to evolve, events like PlasmaCon will play a crucial role in shaping the future of this disruptive technology. By bringing together the brightest minds and revisiting Vitalik Buterin's original vision for scaling the Ethereum network, the conference stands poised to become a catalyst for growth and pave the way for the next generation of blockchain solutions that prioritize scalability, privacy, and decentralization.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

This content was originally published on Crypto Daily

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Exploring Vitalik's Original Ethereum Scaling Vision at PlasmaCon By Crypto Daily - Investing.com UK

Ethereum co-founder Vitalik Buterin shared his insights on the fundamental principles that shape the daily lives of cryptocurrency users.

His remarks came in response to an X thread by crypto project designer OxDesigner, who questioned the long-term value of meme coins within the crypto ecosystem.

OxDesigner expressed concern over the persistent popularity of meme coins. He argued that previous market cycles have significantly expanded the functionality and reach of cryptocurrencies.

These cycles have brought decentralized currency, programmable money, peer-to-peer (P2P) international payments, and unrestricted financial services. However, he questioned how meme coins contribute to improving daily life and felt their impact was more entertainment-focused than enduring.

In response, Buterin highlighted several key areas where crypto is making a difference in daily life. He emphasized the potential of zero-knowledge (zk) reputation systems, identity verification, and credential management. These projects can improve privacy and security with the management of personal information.

* zk reputation/identity/credentials * p2p cross-border payments (much lower fees and quickly improving UX this cycle) * decentralized social * prediction markets (actually usable this cycle) * privacy * enterprise apps via zk validiums * zk + censorship resistant voting

He also noted improvements in P2P cross-border payments. Lower fees and better user experiences are making these transactions more accessible and practical for everyday use. In May, MasterCard debuted a product in this area.

Buterin further pointed to the growing relevance of decentralized social platforms, which offer new ways for communities to interact and share information without relying on centralized authorities. One entity in this niche is Farcaster, which Buterin has previously praised.

Prediction markets were another area of focus for the Ethereum founder. He highlighted their increasing usability, as they facilitate more accurate forecasting. Moreover, privacy enhancements were also called to attention.

Buterin mentioned enterprise applications through the scaling protocol Validium. Finally, he discussed zk-based censorship-resistant voting systems, which can ensure the integrity and anonymity of votes.

Essentially, while meme coins might draw attention for their entertainment value, the core principles and applications of crypto are driving significant advancements in how people interact, transact, and secure their information. Buterin had also previously advocated for meme coins to have higher quality.

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Vitalik Buterin offers principles of daily crypto life - crypto.news

According to Ethereum (ETH) co-founder Vitalik Buterin, the new image compression method Token for Image Tokenizer (TiTok AI) can encode images to a size large enough to add them onchain.

On his Warpcast social media account, Buterin called the image compression method a new way to encode a profile picture. He went on to say that if it can compress an image to 320 bits, which he called basically a hash, it would render the pictures small enough to go on chain for every user.

The Ethereum co-founder took an interest in TiTok AI from an X post made by a researcher at the artificial intelligence (AI) image generator platform Leonardo AI.

The researcher, going by the handle @Ethan_smith_20, briefly explained how the method could help those interested in reinterpretation of high-frequency details within images to successfully encode complex visuals into 32 tokens.

Buterins perspective suggests the method could make it significantly easier for developers and creators to make profile pictures and non-fungible tokens (NFTs).

TiTok AI, developed by a collaborative effort from TikTok parent company ByteDance and the University of Munich, is described as an innovative one-dimensional tokenization framework, diverging significantly from the prevailing two-dimensional methods in use.

According to a research paper on the image tokenization method, AI enables TiTok to compress 256 by 256-pixel rendered images into 32 distinct tokens.

The paper pointed out issues seen with previous image tokenization methods, such as VQGAN. Previously, image tokenization was possible, but strategies were limited to using 2D latent grids with fixed downsampling factors.

2D tokenization could not circumvent difficulties in handling the redundancies found within images, and close regions were exhibiting a lot of similarities.

TiTok, which uses AI, promises to solve such an issue, by using technologies that effectively tokenize images into 1D latent sequences to provide a compact latent representation and eliminate region redundancy.

Moreover, the tokenization strategy could help streamline image storage on blockchain platforms while delivering remarkable enhancements in processing speed.

Moreover, it boasts speeds up to 410 times faster than current technologies, which is a huge step forward in computational efficiency.

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Ethereum's Vitalik Buterin supports TiTok as blockchain app - crypto.news

The Shiba Inu ecosystem team has recalled the historic move of Ethereum founder Vitalik Buterin, who burned over 410 trillion SHIB tokens.

A recent post on X by the official Shiba Inu ecosystem account commemorated the third anniversary of Ethereum founder Vitalik Buterins monumental SHIB burn, reviving the memory of this significant event.

Significantly, this remembrance comes amid Shiba Inus partner, K9 Finance, seeking to honor Buterins gesture by similarly destroying 410 million units of its own native token, KNINE.

During Shiba Inus mid-2020 debut, its creator, Royshi, shared 505 trillion SHIB tokens, roughly half of the total supply, to Ethereums Vitalik Buterin. About a year later, Buterin began offloading the tokens he received.

Among his significant transactions was the charitable contribution of over 50 trillion SHIB tokens to a COVID-19 relief fund in India. In monetary terms, the donation was worth over $1 billion.

A few days later, precisely on May 16, 2021, Buterin transferred 410,241,996,771,871 (over 410 trillion) SHIB tokens to a dead address, effectively removing them from the supply. To put it in perspective, Buterin burnt Shiba Inu tokens valued at over $6 billion in one transaction.

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In the accompanying transaction note, the Ethereum founder expressed a lack of desire to wield concentrated power over a project. According to him, it would be preferable for the tokens to be directly issued to a deserving charity rather than being gifted to him.

To this day, the staggering 410 trillion SHIB tokens burned by Buterin represent the bulk of the SHIB tokens that have been destroyed.

Moreover, this act contributed to Shiba Inus reaching a record high value five months later, as it introduced a scarcity to SHIBs circulation. Given the significance of this event, the Shiba Inu community continues to commemorate it.

To pay homage to Buterins 410 trillion SHIB burn, K9 Finance has disclosed plans to incinerate 410 million KNINE tokens on Friday, May 31. The forthcoming transaction will mark the first official burn by K9 Finance DAO.

Through this gesture, the K9 Finance team aims to celebrate Vitalik Buterins transformative impact on SHIB, signaling their turn to make a similar move. Additionally, the Shiba Inu partner intends to decrease the fully diluted supply of KNINE, thereby establishing it as a deflationary token and enhancing the value for its holders.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basics opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Shiba Inu Recalls Vitalik Buterin 410T SHIB Burn: Here's Why - The Crypto Basic

A version of this article appeared in our The Decentralised newsletter on May 28. Sign up here.

GM, Tim here.

Heres what caught my DeFi-eye recently:

Ethereums core developers are targeting the first quarter of 2025 for the networks next major upgrade.

The plan was solidified in the latest Execution Layer Meeting, a fortnightly gathering of Ethereum developers.

Dubbed Pectra, the hard fork will introduce several new EIPs or Ethereum Improvement Proposals with a focus on user-centric improvements.

Perhaps the biggest change planned for Pectra is Ethereum co-founder Vitalik Buterins EIP-7702.

The EIP, which Buterin wrote in just 22 minutes, aims to speed up the adoption of Account Abstraction.

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Account Abstraction promises to make Ethereum more intuitive and safer to use.

It gives Ethereum wallets the ability to programme transactions, allowing blockchains to replicate services banks and other money-transmitting services offer, such as scheduling payments.

Pectra will also introduce the EVM Object Format through a group of 11 EIPs to make it easier for developers to introduce new features and deprecate old ones.

Solana Labs is deep in development for its second smartphone dubbed Chapter 2.

DL News Liam Kelly sat down with Steven Laver, the projects lead software engineer.

This has that big, skys the limit energy, Laver told DL News in a rare interview. This feels like madness, but at the same time, this feels like the end result.

Solanas plan for Chapter 2 is ambitious.

It wants to liberate crypto from desktop computers and the dominance of app platforms.

The Apple App Store has removed crypto apps most notably MetaMask in October. It was later reinstated.

Both the Apple App Store and Googles Play Store charge developers fees between 15% and 30%.

Solana, Laver said, will offer an alternative.

We take a much lighter hand with our policy, he said. Were trying our best to get out of the way.

Consensys CEO Joe Lubin says his company could use crypto-native methods to tap public investment.

If we do go public in some form, weve always been biased to using our own technology to do something, Lubin told DL News.

Consensys is one of cryptos biggest companies. Its behind several widely-used tools such as the MetaMask wallet and infrastructure suite Infura.

In the crypto world, many view projects tokenisation or airdrop events in which a token is created and distributed to its most loyal users as akin to initial public offerings.

For years, there have been hints about a MetaMask airdrop. With more than 30 million users, the distribution of a MetaMask token would make quite a splash.

Lubin said Consensys is also eyeing acquisitions.

The board just approved something, he said. Were very active.

Other than hinting it was a venture in the cybersecurity area, Lubin was coy on the details.

Deposits to Ethereum layer 2 blockchains just hit an all-time high of $47.4 billion, per data from L2Beat.

(L2Beat)

But in Ether terms, token have been flowing out of layer 2s since an all-time high on May 13.

(L2Beat)

Ethers 25% rally since Bloomberg Intelligence analysts revised their odds of a spot Ethereum ETF on May 20 has helped buoy the metric.

VOTE: Redacted rebrands to Dinero Protocol

VOTE: Radiant DAO supports protocols expansion to Base

VOTE: CoW DAO lowers bonding requirements for CoW Protocol solvers

DefiLlama dev 0xngmi proposes a new lending protocol optimised for looping redeemable assets, like Ether and its liquid staking and restaking tokens.

Uniswaps DAO will finally vote on whether to change the protocol so its fee mechanism can reward UNI token holders.

Got a tip about DeFi? Reach out at tim@dlnews.com.

The rest is here:

Vitalik Buterin's 22-minute proposal set to go live in next Ethereum upgrade - DLNews