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Source: BINANCE Research, the first part of the half -year report in 2024
1. Bitcoin
Bitcoin activities continue to accelerate development in all aspects.Various indicators are continuously improved, and the new era driven by the order number is the sameBoth quality and non -homogenized tokens (“NFT”) have made great progress.Layer-2 (“L2”) and scalabilityFor hot topics, the Bitcoin DEFI field has continued to develop.After the fourth Bitcoin halved in April 2024,Bitcoin’s mining block rewards fell to half to 3.125 Bitcoin each block, which once again brought a shock of supply.At the same time, bitCoin spot ETF was successfully approved in the United States, paving the road for more than $ 14.7 billion in net inflows (1).Overall, bitcoinThe start in 2024 was good.
Figure 2: The Bitcoin market share has continued to rise this year, and it has exceeded 53%.
In this section, we will explore several key Bitcoin indicators and its evolution in this year.Then we will understandLet’s look at the main aspects and development of these indicators, and at the same time look forward to the upcoming 2024.
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Figure 3: The development of various indicators of Bitcoin is smooth. Compared with one year ago, most of the increase can be considered considerable
Regardless of whether it is the beginning of the year or the past year, many key indicators of Bitcoin have increased.In addition to the market valueIn addition to rising, the increase in transaction volume is also worthy of attention.The continuous growth of Lightning network capacity is quite encouraging, because its use case is very importantThe continuous rise of hash rate and mining difficulty is the increasingly positive indicator of Bitcoin blockchain.Please note, the hash rate andMining difficulty is the key indicator of security. The higher the value, the stronger the computing power required for attacking the network.So these twoThe continuous growth of numbers shows that Bitcoin’s anti -offensivity is still strong and it is still rising.
Emotional analysis
We can also perform Bitcoin emotional analysis, and provide treasures for market participants and the general public for collective emotions expressed in BitcoinExpecting solution.A related indicator is the Bitcoin Fear & amp; Greed Index, which is oneThe extensive quoted emotional indicators evaluate the market attitude and investor psychology of Bitcoin.The range of the index from 0By 100, the value below 50 represents the “fear” period, and the value higher than 50 represents the period of “greed”.The value of this index is based onVarious factors such as market share, transaction volume, Google trends, social media emotions and price fluctuations.
As we saw in Figure 4, the indicator fluctuated in the first half of the year, but recently declined significantly.Perhaps it is subject to the United StatesThe stimulus approved by the currency spot, most of the year’s index is in the “greed” range, but in the past month in the past monthQuickly fall to the “fear” range.Although this indicator is not comprehensive enough, it can still show that traders and markets have become more in recent weeksConservative may be affected by the recent news, including the German government’s selling Bitcoin may bring potential selling pressure, and the suspension of businessThe trading platform MT. GOX begins to distribute repayment.
Figure 4: Bitcoin fear and greed index recently fell to the fear range of fear
Compared with traditional asset performance
Compare the performance of Bitcoin with other Tradfi, Ethereum and Bitcoin’s yields have reached the yields since the beginning of the day to the present, respectively48% and 43%, once at the forefront.Alphabet and Amazon’s stock are the only two in the control group that have increased more than this year25% of other investments.The main stock market indexes are far behind, and the return rate of many stock indexes is only single.Gold is usually advertised asBitcoin’s competitive products rose only 13% this year, while crude oil rose by about 14%.This chart is further explained and pureCompared with the TRADFI investment portfolio, Bitcoin has the advantage of potential diversification and its performance.
Figure 5: Bitcoin and Ethereum and the popular TRADFI reference group have performed well
Preface, inscriptions, BRC-20 and Runes
Since the first inscription was launched in December 2022, the Bitcoin homogeneity tokens and the NFT market continued to expand and continued to grow.simpleLooking back, the “preface theory” proposed by Casey Rodarmor can track a single Cong (the smallest unit of Bitcoin), andGive the only identifier to each Cong.Then, these single Cong can “engraved” any content, such as text, pictures, and seeFrequency, so as to form a “inscription”, that is, the later Bitcoin NFT.
Following the first inscription boom from January to February 2023, the launch of the BRC-20s token in March 2023 once again led to the relevant workThe movement has increased significantly.By BRC-20, homogeneous tokens related to order number can be deployed and cast on the Bitcoin networkAnd transfer.The activity of the inscriptions and BRC-20 runs through the whole spring, and then set a new high in the fourth quarter of 2023, that is,It still continues to reduce Bitcoin in April 2024.The halving incident is almost the same as the launch of the Runes protocolTime occurs.Runes is another method of adding homogeneous tokens to the Bitcoin network. It is also the scene when the order was first releasedThe later developer Casey Rodarmor’s other wisdom.BRC-20 is based on order number theory and therefore inheritPart of its complexity, but Runes has nothing to do with the order theory, but only expands the UTXO model of Bitcoin to carry homogeneousThe balance of the tokens, so its efficiency is higher than the BRC-20.
Figure 6: Terms Review
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Since the first inscription was released in December 2022, 67 million inscriptions have been cast on the Bitcoin blockchain, which has produced more than6,875 Bitcoin (approximately $ 414 million) fees.
Figure 7: The monthly number of Bitcoin inscriptions continues to decline this year, partly because of the introduction of Runes
As far as BRC-20 is concerned, its total market value is about 1.3 billion US dollars, a decrease of about 50%since January.$ Ordi as the firstCompleted the deployed BRC-20s tokens is still the most successful and popular tokens so far. At present, it has been in many major transactions.On the stage.The market value of ORDI exceeds $ 600 million, accounting for more than 50% of the total market value of the BRC-20 market.We should also pay attention,For more than a year, most inscriptions are based on text (that is, BRC-20 toke).
However, related indicators show that since the launch of Runes on April 20, it has been significantly eaten by the BRC-20 marketForehead.In fact, since its launch, Runes has occupied more than 95% of the Bitcoin homogeneous token market.
Figure 8: Runes occupies most Bitcoin homogeneous tokens markets
Judging from all Bitcoin transactions, the average proportion of Runes transactions has exceeded 60%since its launch.Encouraged, althoughHowever, standard Bitcoin transactions still dominate, but various emerging Bitcoin markets have also introduced new activities and handling fees incomesource.
Figure 9: Since its launch in April, Runes has an average of 61% of the total amount of Bitcoin transactions
Figure 10: So far, Runes has generated more than 2,500 Bitcoin (about $ 145 million) fees
Although it will not subvert the rules of the game, inscriptions, BRC-20 and Runes have produced more than 4,000 Bitcoin this year(About 233 million US dollars) handling fees are undoubtedly gratifying, especially considering that Bitcoin has just experienced halving.Please note that Bitcoin miners can get paid in two ways: block rewards and trading fees, of whichI am encouraged to be halved every four years.A halving incident in April 2024 caused block rewards from 6.25 BTC to3.125 BTC.In view of the final decrease of block rewards, in order to ensure the income of the miners, the transaction fee must rise.
Spot ETF approval
In January this year, the BTC spot ETF was approved in the United States and was one of the decisive events in the first half of this year.This helps bitThe currency market injected new sources of demand for institutions. Compared with the previous cycle, it can increase the diversity and depth of investment interest.nowFrom hedge funds to pension funds, all types of American institutional investors can easily enter cryptocurrencies in a simple and intuitive waymarket.ETF packaging tools are well known to institutional investors and are willing to accept it.A great way in the currency market.
So far, the cumulative capital inflow of ETF has reached 14.7 billion US dollars, with a total holding of more than 865,000 BTCs (about$ 52 billion).
Figure 11: More than 14 billion US dollars of funds are flowing into the new BTC spot ETF, and an average of $ 122 million per day
Although the interests of the institution are mainly concentrated in Bitcoin, more and more people expect that in the near future, the institution will also openFavorite Ethereum (detailed later).As far as the leading ETF supplier is concerned, Berlaide occupies a dominant position, and the inflow of funds exceeds$ 17.7 billion.Gray and Fidelity also performed well, and the three companies co -occupied more than 80% of the market share.
Figure 12: Berlaide, Gray and Fidelity occupied most of the share of the US BTC spot ETF market
Other countries/regions have also showed interests, including Hong Kong approved Bitcoin and Ethereum spot ETF in April.Except andCompared with the United States, its transaction volume is relatively limited (7), but this is a step in the correct direction.European ETP and American spotETF is essentially the same type of product. Since its launch in 2015, it has also shown significantly.European cryptocurrency ETP asset management scale (8) Total amount increased from about $ 5.3 billion in July 2023 to more than 12 billion US dollars this year, an increase of aboutIt is 130%.
The documents of the US Securities and Exchange Commission (SEC) show that the number of participants with the largest number of ETFs in the US BTC spotChong Fund, Asset Management Company and Bank.Although Morgan Stanley and other companies have become one of the top ten holders, it is indeed encouraging, But it is worth noting that in the top ten, including many hedge funds, such funds usually focus on short -term strategies, notLong -term holding.Nevertheless, we should also notice the participation of traditional institutional investors, such as the investment commissioner of Wisconsinmeeting.In the second half of this year, which types of investors will these products be attracted to us, let us wait and see.
What will be expected to develop in the future?
1. Bitcoin L2:In the field of Bitcoin, various innovations have emerged, and it has a significant impact on the transaction fee (just asWhat we emphasized before).In fact, as shown in Figure 13, from 2022 to 2023, the year of BitcoinThe average transaction fee rose from $ 1.5 to $ 4.2, an increase of 175%.This model continues to this day, 2024The average annual Bitcoin trading fee exceeds $ 8.8.This further proves the scalability of Bitcoin and the importantSex can be used to alleviate the congestion of the Bitcoin L1, and provide users with lower -cost bitcoin trading venues.
FigIn 2024, it has reached $ 8.8 so far
Although some people think that Bitcoin is only applied to currency transactions, L2 still has its necessity.Last year, the Bitcoin network was on the Bitcoin networkThe transaction volume was 152 million (9).Recently, Bitcoin’s transaction volume has just exceeded the 1 billion mark.If the transaction volume is relatively lowWhen, users have begun to complain about L1 congestion and rising fees, so obviously this is a question worthy of attention.If Bitcoin is sureIn fact, if you want to popularize a large scale globally, its scalability solutions are inevitable.
Each team is studying solutions, including senior participants such as Lightning Network, Stacks and RGB.Emerging teams are also pushingChen Chinxin, including the summary of Bitcoin zero knowledge of Citrea and Merlin.
2. More Bitcoin DAPP is about to go public:The order number and inscriptions indirectly created a new era of Bitcoin’s expressive rejuvenation.Many emerging Bitcoin projects have just been launched last year, or they are under financing and development.It contains various typesProjects, from the Bitcoin currency market to Bitcoin pledge and re -pledge.Such activities are expected to last until the second half of this yearYear.
It is also worth mentioning Bitvm launched in December 2023.It aims to expand through the introduction of smart contract functionBitcoin network does not require major changes in the existing infrastructure of Bitcoin.The operation of bitvm and L1 chainThe optimism summary is similar.The related development of the agreement may help expand the Bitcoin function and make it far exceed the current waterAt the same time, it can also create a safer solution to connect the BTC bridge to the secondary layer.Although bitvm is still developingIn the early days, it was too early to judge its development trend, but the field is still worthy of attention.
3. ETF dynamics:
a. The comparison of its potential scale and gold: Given that Bitcoin is often called “digital gold”, we can make yellowAs a potential comparison object, the Gold ETF market estimates the market size of the Bitcoin ETF.As of writing,The gold ETF market is about 105 billion to 110 billion US dollars (10).American BTC spot ETF market is about52 billion US dollars, about half of the gold ETF market.
b. Tradfi lag: Traditional financial institutions are usually cautious, especially when emerging markets such as cryptocurrencies and other emerging markets andTechnical time.Therefore, although the spot ETF has been approved in January, not all financial consultants and asset managementThe company has prepared to invest immediately.The knowledge popularization and marketing process may take several months, some basesGold may also choose to wait and see the performance of other funds, so on.Therefore, in all fairness, in the next oneIn several months or even years, more investors should be added, and as more traditional investors are willing to pick upThe NABB Bitcoin may also have stronger funds.
“… Although the spot ETF has been approved in January, not all financial consultants and asset managementThe company has prepared to invest immediately.The knowledge popularization and marketing process may take monthsSome funds may also choose to wait and see the performance of other funds … “
c. Indirect influence: It can be said that the biggest impact of the US BTC spot ETF is that it has improved the Cantonese goodsThe recognition of the currency industry in the traditional financial market.For some participants, the spot ETF is justEntering the starting point of the vast cryptocurrency ecosystem, their next stop may be Ethereum, BNB Chain, Solana, DEFI, NFT, game, etc.For other participants, the world’s largest asset managementThe company’s recognition and support may inspire them to get involved in Bitcoin.And many combination of traditional goldProfessor Rong and Emerging Technology, with the support of large -scale participants in the market, opened up a brand newDevelopment path.The above -mentioned influence and its possible results may be the most important and most important and most important and most important and most important and most important oneThe most exciting part, we may witness the emergence of results in the next few months or years.
2. Other L1
Overview
Figure 14: Summary of the current status of L1 (Data as of the first half of 2024)
From the perspective of high -level indicators, Ethereum obviously has the total market value, average transaction volume, annual income, DEFI total lock value and development personnelNumbers are leading positions.BNB CHAIN ranks second in indicators such as market value and total number of developers, and has the second low average transaction fee.It is worth noting that the total number of developers in Ethereum is far ahead, BNB Chain, SolanaThe total number of developers of Avalanche is comparable, and TRON’s developers’ communities are relatively small.
Ethereum
As shown above, Ethereum still maintains a good development momentum, leading to other L1 in many key indicators.First half of the yearThe narrative mainly focuses on re-pledge and its various related markets, EIP-4844, growing DEFI fields, and the current American ETHCargo ETF is unfolded.
头 Praising the headline: By pledge, users can re -use the pledged tokens so that they canProvide security.In the past six months, pledge has been the main narrative of Ethereum.
YEigenlayer, as one of the first large -scale projects launched in this field, promoted the development of the narrative, andOccupy most of the market TVL.EIGENLAYER’s current TVL reaches $ 14 billion (11), occupying the wholeMore than 85% of the market.
Figure 15: This year, the TVL in the field of pledge has exploded, and currently exceeds 16 billion US dollars.
通过 Simply look back, through Eigenlayer, Ethereum pledges can re -use the pledged ETH, useTo protect other applications security, that is, active verification service (AVS).The pledker can choose these clothesMake money and earn benefits.In return, they need to agree to grant EIGENLAYER for punishment for pledged ETHExtraordinary rights.
Figure 16: A simple picture of the operation method of EIGENLAYER
Y EIGENLAYER released its main network in April, and at the same time launched the first AVS, that is, data availability (DA) layer EIGENDAEssence
的 Other well -known platforms entering the pledge market include Karak and Symbiotic.Karak focuses on multi -chain re -pledge,Support Arbitrum, Mantle, BNB Chain, Karak Network and Ethereum.Symbiotic focuses onEthereum, but it can accept a variety of ERC-20s to pledge, covering a wide range.
级 Dencun upgrade and EIP-4844: Ethereum Dencun hard fork was launched in March, bringing nine major changes to the networkEven.Among them, the most noticeable is the EIP-4844 (that is, Proto-DANKSHARDING). Users can from lower L2Deal in the fuel fee.This is an important milestone on Ethereum scalability. It is also a complete futureDanksharding laid the foundation.
4 EIP-4844 introduced “BLOB”, providing L2 with higher fuel efficiency transaction data release methods.BLOB stores a large amount of data under the chain and adopts a pricing mechanism called “Blob Gas”. This mechanism is uniqueStanding in Ethereum fuel expense market operation.In addition, the data will be temporarily stored for about two weeks, not permanent storage.
Figure 17: After the DENCUN upgrade, many L2 transaction fees have decreased by 90%
4 After the EIP-4844 was launched, the L2 transaction fee fell sharply.As shown in the figure above, Dencun upgradeLater, the median fuel cost of the main L2 decreased by more than 90%.Currently, in most major L2 networksAmong them, the cost of sending ETH is less than $ 0.01, and the cost of exchange to tokens is usually less than $ 0.1.
T ETH spot ETF: Following the approval of the BTC spot ETF in the United States in January, many people in the market are guessing ETHHow long does it take to be approved in spot ETF.By May, most people think that the possibility of approval before summer is notbig.However, it is surprising that at the end of May, the US Securities and Exchange Commission approved several ETH spot ETFsListing.
S At present, publishers and SECs are communicating on the details of their ETFs.easy.
H Some people predict that ETH ETF traffic will be equivalent to BTC ETF, while others predict the flow of ETH ETFThe quantity will be relatively sluggish.We can get more accurate conclusions through the following two items: (i) EthereumThe market value is about 32%of Bitcoin; (ii) The scale of the gray trust of the Taigo is about the grayness Bitcoin ETF58%(Gray Bitcoin ETF is converted from the original Gray Bitcoin Trust Fund.
Figure 18: The comparability of Ethereum is 30% to 60% of Bitcoin, what does this mean for its ETF traffic?
❖ Future development:
升 PECTRA upgrade: PECTRA plans to launch updates in the first quarter of 2025, which will become the next one of EthereumThe secondary upgrade includes a series of updates to the execution layer and consensus layer.
■ The main new contents include: EIP-7002 (the flexibility of enhanced pledge and pledge pool),EIP-7251 (increased the maximum effective balance of Ethereum verified as verified by the Ethereum from 32 ETH to 2048ETH helps to reduce system complexity), EIP-7594 (introducing peer data available drawingIn the case, to further optimize L2), EIP-7702 (improved account abstraction function), etc.
Bnb chainBNB Chain has always maintained its leading position of L1 and continued to make progress in many directions.The main entry in the first half of the yearThe exhibition includes: OPBNB development, improve decentralized data storage capacity through BNB Greenfield, and start to pay attention to the model at the same timeCurrency.The status of BNB CHAIN in the field of DEFI is still firm, and its TVL of more than $ 7 billion ensures that it is the third largestDEFI chain.PancakesWap is still the leading Defi Dapp, TVL is about $ 1.5 billion; Venus’s TVL is 14100 million US dollars, followed closely.
展 OPBNB progress smoothly: OPBNB is a BNB CHAIN optimistic general exchange L2 solution, based on OP Stack, canCompatible with EVM, as many as 5,000 transactions per second (“TPS”), and the average fuel cost is about 0.001 GWEI(Value & lt; $ 0.001).In fact, the recently launched Haber hard fork uses blob (similar to EthereumEIP-4844) further reduced the average fuel cost by 90%.OPBNB also supports native account abstraction (“AA”) and can optimize account abstract transactions.The above factors complement each other, so that OPBNB is committed to research and development gamesDevelopers who need to apply high -frequency micro -transactions are quite attractive.
上 Since its launch in September last year, OPBNB has recorded more than 3.5 million daily active accounts more than 11Thousands of transactions.The leading DAPP includes the derivatives Kiloex, APX Finance, andPancakeswap.
Figure 19: The number of daily active accounts of OPBNB has increased steadily. As of the time of writing, it has exceeded 3.5 million
F BNB Greenfield update: BNB Greenfield provides decentralization in the vast BNB Chain ecosystemData storage infrastructure.This is a storage -oriented blockchain. Users can create, store and hand in itChange your own data.Through the native cross -chain bridge, all the data stored in BNB Greenfield are availableIt is easy to transmit to the BNB smart chain for BNB Chain Dapp and the new BNB Greenfield Dapp.Related use cases include website hosting, cloud storage, blockchain data storage, publishing, personal data market, etc.
四 Since its main network was launched in the fourth quarter of 2023, BNB Greenfield has already owned about 2.15 TB depositThe storage space implements 6.8 million transactions, involving about 35,000 addresses.Well -known participants include infrastructureParticipants CodexField, Aggregata and Rido.
Figure 20: The network usage rate of BNB Greenfield has continued to rise, and the second half of the first half of the year has grown strongly
投 Modencoin and airdrops: BNB CHAIN has launched a series of community activities in the past few months, including focusing the mold.And airdrop boom.
： The Battle of Innovation: BNB CHAIN has invested $ 1 million through this activity to promote the ecosystemInternal coin innovation.The first stage was issued $ 100,000, and the remaining 900,000 will be distributed in the second stageDollar.These funds will be used to support liquidity funds pools to develop and develop the first.Tourism project.
计 Air Investment Alliance: The plan is co -created by BNB Chain and high -quality projects that have not yet issued tokens.BNB CHAIN and OPBNB User Air Investment tokens who are traced back to past activities.Bnb chain recently pushedThe third phase of the plan will distribute more than 8 million tokens.
联 BNB Incubation Alliance: The plan is launched with the Binance Incubator, which aims to support it through a series of global activitiesAnd promote the development of early blockchain projects.The winning project can quickly enter the most valuable builder (“MVB”) Plan, support BNB Chain funding support, and use BNB Chain’s distribution as a service (“Laas”) package.A series of activities in the initial period will be in ETHCC and Nashville in BrusselsBitcoin 2024 conference, Token 2049 in Singapore, Binance Blockchain Week and Bangkok in DubaiDEVCON / ETHGLOBAL was held.
❖ Future development:
New node client: BNB Chain team has always cooperated with Paradigm to evaluate, test and changeEnter RETH (as a node client based on Rust -based Ethereum and BSC).There are currently two BNBsNode client, this will be the third.BNB Chain also hopes to build the next generation of high performance on this basisNode client.
料 Focus on the infrastructure of non -fuel costs: BNB CHAIN will launch support measures, so that DAPP does not require fuel costsTokens can connect users, including Paymaster based on smart contracts.
Solana
Solana performed well in 2024. The chain activities continued to increase, and market attention continued to increase.
Figure 21: The active address of Solana has shown obvious positive momentum in the past year
模 ： ❖ ❖ ❖ ❖ ❖ ❖ ❖ ❖ ❖ 币 币 ❖ is the main narrative of the past six months.As the report will be introduced later, the causeCoins are the best sub -industry this year, with a return rate of more than 279%since the beginning of the year.
是 SOLANA has always been the core of the development of the coin market, and many traders chooseSolana.This advantage is caused by various factors, of which relatively low transaction procedures and completenessThe product kit is the main highlight.Solana has also created some water -to -channel coin activities, andThe owner of the Solana Saga mobile phone airdrop bonk coin, making it the leading cause of the lead in this cycleOne of the coins.
看到 From Figure 22, it can be seen that the number of DEX traders in Solana is compared with other participants in the marketShow significant growth.Although it is not completely due to the transaction of Modelin, this is undoubtedly the main development driverforce.
Fig
U The launch and development of pump.fun is also important for Solana’s factors.Pump.fun is specializedThe simple platform for creating and trading models in the model can ensure that each tokens are issued fairly without pre -pre -pre -pre -pre -pre -pre -pre -pre -pre -issuingSales are not allocated to the team, solving typical problems such as unfair distribution and running scams.In view of the userIt takes about 2 minutes to create and deploy a new coin at a price of 0.02 SOL. The platform is indeedIt helps to develop the development of the SOLANA almed currency trading market.The new model deployed through pump.fun has exceededMore than 1.1 million, and the platform has generated more than 308,000 SOL (about 42 million US dollars).
Figure 23: Since its launch, Pump.fun has created more than $ 42 million in income
中心 DEPIN: Decentralized physical infrastructure network (“DEPIN”) is still the most interesting innovation in the cryptocurrency worldOne of the new is worthy of close attention.DEPIN project is usually infrastructure projects, using blockchain technology and encryption scripturesJixue inspires individuals to allocate funds or rental resources to create transparent and verified decentralized infrastructure networks.Such cases include HiveMapper, a decentralized map service driven by the community and 5G bee driven by cryptocurrencyNest Network helium.
拥 Since Solana has a localized toll market and high throughput (relative to other major networks, afterPeople are usually based on EVM, which may not be suitable for dense use cases on solana).Only on Solana can only be achieved. “It played an indispensable role in important DEPIN projects such as HiveMapper.also,A large number of new projects such as Ambient and NATIX also focus on the collective environment and geographical data.After funds, continue to develop your own products.
都 The progress of projects in this field is quite smooth.For example, HiveMapper has drawn more than 20%Ball highway network map (13), and Helium’s mobile hotspot coverage is also smooth in North America, Europe and East Asiaexpansion.Observing the development of these projects and the performance of emerging agreements will be very interesting, and it is particularly importantBecause the chains such as Polygon and Arbitrum have also been involved in the DEPIN field, it may be launched with Solanacompete.
C Solana Actions and Blinks: Recently, Solana also announced the launch of Solana Blinks (blockchain link (blockchain linkAbbreviation).Actions is the API on the Solana chain, while the blockchain link can convert Solana Action into a shared link.That is to say, as long as the linkable link can be triggered on the chainoperate.In practice, this means that users can cast NFT directly on the X timeline, vote for the proposal,Donation, exchange of tokens, etc.In essence, Blinks allows users to share anywhere in the execution area where their linksThe blockchain transaction and access to Solana DAPP from any platform -available link.
Figure 24: Users can interact directly with Blinks to conduct various chain activities, and no need to leave their website
O Many leading Solana protocols integrate Blinks.Drift Protocol will allow users to directly in XMake more/short tokens, while Meteora allows users to trade models on the timeline.User canCasting Tensor NFT while rolling the X timeline, voting, using the Helium proposalSANCTUM for liquidity, or exchanged tokens on Jupiter.Although this emerging primitives are still availableIn the early stages of development, we look forward to seeing its future development, as wellBlinks may bring innovation.
❖ Future development:
Er FIREDANCER: Solana’s new generation of independent verification client, its release has always been highly anticipated, expectedIt will be launched at the end of this year or early next year.
■ Solana currently has two clients: the original Solana Labs client and by Jito LabsAnother client built.However, Jito Labs is the score of the original Solana Labs clientFork, so if there is a loophole that causes one of the clients to close, then another client mayIt will also be affected.Firedancer is completely independent and even uses different wordsWriting (the original client uses Rust, and Firedancer uses C ++).
■ The main advantage of Firedancer is that it improves the reliability and recovery ability of the network, that is,Said, if a vulnerability causes other clients to close, the network can still run on Firedancer.In addition, Firedancer aims to greatly optimize the scalability of Solana: in the test,Firedancer has more than 1 million transactions per second (14), which is much higher than that of SolanaThe average level of the first 3,000-4,000 (15).In addition, FIREDACER also helps reduce delayTime to improve the performance of Solana DAPP.The above factors jointly create a stronger blockThe chain brings more surprising possibilities to the high throughput DAPP.
A Saga Chapter 2: SOLANA’s SAGA mobile phone is closely combined with the blockchain, providing users with relaxationManage the convenient channels for digital assets.Its demand was strong at the end of 2023, and sales were empty.This can be partiallyDue to the rise of models, especially BONK.At that time, the owner of the Saga could get the BONK airdrop. VeryThe value of multiple people’s share later exceeded the price of the mobile phone itself (16).
■ After that, Solana opened the second -generation device Saga Chapter 2.This phoneIt is expected to be released in 2025, and the booking users have received two airdrops.
最 Expansion: Recently, Light Protocol announced that it and another Solana Development Company Helius LabsCooperation to introduce ZK compression technology for Solana.This is an expansion technology, which aims to further reduce the chainCalculate costs, use zero knowledge proof and call data (similar to the operating party of Ethereum L2Mode).The solution is currently in the test network stage.Recently, solana L2, who focuses on the gameSONIC also raised $ 12 million.SONIC is currently in the development network stage, and there are five gamersThe room is developed on the basis of it.Its main network and tokens are expected to be launched in the third quarter.
other
H avalanche:Avalanche released Teleporter in March.This is a communication protocol, which aims to improveInterconnection between subnets.Teleporter can promote the transmission of tokens, NFT and messages between subnets.CurrentlyThe number of networks has reached about 125, but only less than 50 of them have verifications.
是 The game field is always the focus of attention. Among them, it is announced that (17) Maplestory Universe subnetThe news is the most noticeable.
H Avalanche Foundation continues to support the ecosystem.It has set up $ 100 millionCulture catalyst(18) Funding plan (for Avalanche -based coins) and 50 million US dollarsYuan’s VISTA Plan (19) (for token -based assets based on Avalanche, RWA).
： Cosmos:The COSMO ecosystem is centered on COSMOS HUB. The Hub is a $ atom tokensApplication chain of protection.Many other application chains called “Zone” are connected to COSMOS HUB and use the blockchainCommunication (“IBC”) protocol communicates and transmits data between each other.”Hub” is essentially a Zone,It can promote communication with many other ZONE.Cosmos hub is the earliest Hub, but Xu, XuThe more other HUB’s activity exceeds the cosmos hub(20).Other leading hubs include OSMOSIS, andCelestia, Axlar and NOBLE.As of writing, there are 80 in the COSMOS ecosystem that supports IBCActive Zone, with a market value of about $ 31 billion.
Figure 25: In the past 30 days, the five major COSMOS application chains have been on the chain event on the chain
At Replicated Security and Mesh Security: Last year, COSMOS began to focus on sharing security, Replicated Security and announced that Mesh Security will be launched.However, exceptNeutron and Stride’s application chain decided to use the development of these two projects in addition to the replicated security.More new news has been out of the exhibition.
BleakBabylon chainLine soon: BABYLON, as the COSMOS project, aims to use Bitcoin’s An AnA full guarantee enhances the security of the COSMOS application chain and other equity certificates (POS) chains.BABYLON is already inIts test online integrates 50 chains, with a total market value of more than 9.8 billion US dollars (22).Including the majorityCOSMOS top application chain, such as OSMOSIS, Injective, Akash, SEI, Stride, EVMOSwait.
■ BABYLON uses a hybrid model to combine the equity certificate (POS) and the workload certificate (POW).And add IBC to communicate, we can regard it as committed to using Ethereum, Bitcoin andThe advantage of cosmos.This is a promising new blockchain design solution. We will be inWhen its main network is about to be released, pay close attention to its development.
❖ tron:As a stabilized currency settlement chain, TRON is still performing well, and its hosted USDT accounts for 50% of the total circulationThe above (23).In addition, TRON’s DEFI TVL still ranks second, although it consists of only about 34 protocols, andEthereum contains more than 1,000 protocols, and BNB Chain has more than 770 protocols.(24) Justlend andJustStable is the leading agreement on the chain.In addition, earlier this year, Justin Sun also declared (25) tronIt is developing the Bitcoin L2 solution.
❖ TON:In the past year, Ton has made great progress in terms of popularity and the awareness of narrativestep.Its market value increased from about 8 billion US dollars in January to more than $ 18 billion at the end of June, and TON’s transaction volumeThe number of addresses has also continued to rise.TON network and Telegram Communication APP (monthly active user number is overThe integration of over 800) may be the most noticeable in its development process.And HAMSTER KOMBATTelegram games such as Ton (27) and notcoin on Ton are also the focus of recent attention.
❖ fantom:FANTOM kept publishing various news, and the Fantom Foundation recently announced that it will launch a new L1Network SONIC.SONIC will have a native L2 cross -chain bridge connecting Ethereum, and it is said that the transaction processing speed can reach each2,000 transactions (“TPS”).They recently announced that they raised $ 10 million in funds and distributed 200 millionDama $ FTM is used to migrate DAPP and partners to Sonic.
In Berachain:One of the emerging L1s that have entered the market in recent months have attracted more attention in products at the same time.BerachainAdopting a novel liquidity proof consensus mechanism, focusing on establishing a system in the DAPP ecosystem of BERACHAINLobricity, and through the three -generation currency model, all the stakeholders are reached.Berachain recently launched a test networkV2 version and plan to launch the main network in the next few months.
❖ Cardano:Cardano’s DEFI TVL hit a new high in the first half of the year, exceeding 500 million US dollars in March, butLater, it fell.Cardano is also accurate for the upcoming Chang hard fork (expected to be launched at the endFor the bifurcation, the fork will completely decentralize it.
❖ Near protocolIt has always been very active, especially focusing on the sub -industry of AI with cryptocurrencies.They are about to release dataAvailable (“DA”) solution Near DA.
