⛓️ A new interchain chain
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🫡 Heads Up: We at ZKV have decided to change the design of our previous weekly Cosmos Newsletter and give this publication a broader perspective to bring you the latest news that matters across The Interchain. So that’s why it looks a bit different than what we shared with you before. Hope you like it. - The ZKV Team
⏰ Quick read
📰 Featured: The Verge, historically critical of crypto, featured the game Angelic, backed by Saga, a Cosmos L1. According to the report, Saga supports indie developers like Angelic by integrating blockchain to enhance user interactions and immersion without disrupting gameplay.
❌ Rejected: Following the comments from community members in social media about getting rejected to talk at DevCon, @natn3t (from Celestia), @kayprasla (from MatterLabs) and @divine_economy (founder of the Joker Race platform) launched a contest on Joker Race to pick 10 talks from rejected speakers for a side event during DevCon. The platform uses Celestia underneath.
🤝 Upgrade: The Blobstream upgrade to SP1 focuses on using SP1's zkVM to handle Celestia’s data verification on Ethereum and other EVM chains. The bridge logic is written in Rust, reducing complexity to less than 300 lines of code. It verifies Celestia’s Tendermint consensus, including ed25519 signatures, and computes a Merkle root for data blobs posted in Celestia blocks. 📰 On the Headlines: A roadmap
Thorchain has been getting some social media buzz lately. Here’s why:
The Roadmap
THORChain’s latest roadmap introduces key upgrades and aligns with recent ecosystem trends. The V50 update will add IBC, WASM support, and modern modules, with over 100 thornodes managing canonical IBC channels to chains like Atom and Osmosis. A codebase overhaul, security enhancements, and Multi-Party Computation (MPC) upgrades are also planned.
DeFi functionality will shift to an app layer, starting with RUJI DeFi and RUJI Perps, while the base layer will focus on LPs, nodes, and streaming swaps.
The numbers
Messari’s Q2 2024 report highlights challenges, with TVL dropping by 44.9%, driven by a 49.5% decline in RUNE's price. Liquidity fees fell 37.3%, but the number of swappers only dropped 6.7%. Despite a market downturn, THORChain added eight new integrations, including Li.Fi and Cake Wallet.
👩🚀 Into the Outer Space: OVA
Benedikt Bünz published OVA, a modified recursive verification scheme that reduces Nova’s group operations from two to one, using a constant number of hashes. It offers improved efficiency for smaller circuits but doesn’t support multi-accumulator schemes like Nova.
👋 Ending note: We hope you like our new format and angle. If you have any feedback or suggestions, feel free to leave them here.