Ant Digital the company behind Alibaba (China's Amazon) and Alipay - a Chinese super wallet with 1.3 billion users is building an Ethereum L2.
Looks like a zkRollup.
This has been under the radar, no hype. I'm doubtful there was any BD deal here - likely they didn't even talk to the EF.
Major companies just build on Ethereum and we find out about it later - like the internet, no one asks for permission or needs to be convinced.
Very bullish.
🚨 BREAKING NEWS: $150,000,000,000,000 SWIFT
YES! $150 TRILLION DOLLARS SWIFT is building a blockchain settlement on #Ethereum Layer 2 Linea!
$ETH IS TAKING OVER THE WORLD! 🚀🚀
I know I'm going to get heat for this, but I'm most excited about the crypto ecosystem breaking away from being Bitcoin-centric and moving into a paradigm of being Ethereum-centric.
Bitcoin is dead weight - it does nothing and doesn't push this industry forward - in fact, it actively holds the industry back. It becomes less secure and more centralized over time with both quantum computing and security budget issues being critical systemic risks.
On the other hand, Ethereum is a breeding ground for innovation and radical new ideas that have disrupted and will continue to disrupt finance and other industries. The Ethereum ecosystem meets any and all challenges heads on and, while it can be a slow moving beast, it can reprioritize its focus when needed.
Ethereum is about looking forward - it's about building a better future - it's about upholding the cypherpunk vision and ethos. We aren't just content with how things are - we want to make the world a better and more fair place.
I'll keep fighting until ETH flips BTC and becomes the flag bearer of this industry - then I'll keep fighting to ensure Ethereum stays decentralized while becoming the backbone of the global financial system.
Four Bitcoin mining companies recently became ETH treasury companies
$BMNR
$BTBT
$BTCS
$BTCT
They used to be Bitcoin security providers, but they pivoted to being Ethereum security providers
Providing security to Ethereum is profitable
Providing security to Bitcoin is not
This is a CRAZY number.
$27b in dry powder is waiting to buy more $ETH across treasury companies.
For context, that's:
• 5% of total supply (6m ETH)
• 1/3 of all ETH currently on CEXs
The supply squeeze will be glorious.
(h/t: @dunleavy89 & @RiskOnBobby)
The level of Quantum Computing skepticism today reminds me of the average person who spends 10 minutes researching Bitcoin and then dismissing it as valueless.
Quantum Computing is real. It will change the world. MASSIVELY.
QC will break Bitcoin if we do not upgrade it. The threat is real.
Many studies converge on the QC threat to Bitcoin being only 5-10 years away.
As few as 2500 logical Qubits may needed to break SHA-256 algorithm in Bitcoin (read: https://t.co/l5g86lpIj1). Not the ridiculous 300 million you are reading about on X today. Note a logical Qubit is not equal to a physical qubit, but the error correction capabilities are getting exponentially better each year.
Timeline estimates are based on probability curves. With many estimates putting a serious 50% risk on Bitcoin in 5-10 years. Eg: (a) https://t.co/QdD3sqf1Q5 and (b) https://t.co/gDIvHMVbyf
Further, with all tech development curves going exponential, and given the massive leaps in QC in 2024 alone, I think we will end up on the more aggressive side of this scale.
Just 2 years ago you couldn't imagine working with AI. Now AI makes coding, development and research 50-100% faster. The world is moving exponentially people. Brace yourselves and wake up.
Very importantly, most (not some) QC firms listed on the NASDAQ are giving forward guidance and expecting to be at around 3000 logical qubits in just five years.
Whether its 3, 5, 10, 15 years away isn't the point, the point is action needs to be taken TODAY.
Best case scenario, once we have agreed on a QC proof cryptography upgrade for Bitcoin, it will likely take 1 year just to move everyone (most) across to it. Further reducing the lead-time we have to act.
It's good everyone is talking about Quantum Computing today, perhaps it will finally start to be taken seriously.
If you want to enjoy Bitcoin for decades to come, we should be on the front foot of QC now.