Crypto Guides, Knowledge & Insights

Understanding Intent and Chain Abstraction: Seamlessly Bringing Mass Users into the Blockchain?

In the previous cycle, the blockchain industry focused on scalability, with Ethereum building Layer 2 solutions and multiple Layer 1 chains raising significant funds. The industrys main goal was to solve the issue of low on-chain performance, which hindered mass user adoption. However, as market volatility persisted, Ethereums gas fees dropped to as low as 2 gwei, and on-chain performance was no longer the primary factor limiting blockchain development.　　As performance issues gradually eased, the industrys focus shifted from scalability to lowering the barriers for users to enter the blockchain space. Chain abstraction and intent abstraction have gained attention, as they enhance blockchain usability and adoption by hiding the underlying complexity and simplifying user interactions. These two abstraction methods not only help users seamlessly operate across different chains but also convert high-level user intents into automated execution, making blockchain technology more accessible to the general public.Understanding Chain Abstraction and Intent Abstraction　　Chain Abstraction and Intent Abstraction are two concepts in the blockchain field, primarily used to discuss technological methods that simplify complexity, enhance interoperability, and improve user experience.　　While chain abstraction and intent abstraction share similar goals of simplifying user interactions with blockchain, they differ significantly in terms of the level they address,

2024-08-21Deep Dive

WikiBit—Protecting Users Assets in Web3 from the Source

In recent years, the blockchain industry has developed rapidly, but with the swift expansion of the industry, various issues have also emerged. Exchanges, as a crucial part of the blockchain ecosystem, hold a particularly important position, especially in meeting users trading needs, over-the-counter (OTC) transactions, and other essential functions. However, problems at exchanges are frequent, and fraudulent activities are common. Issues such as Ponzi schemes, exit scams, hacking attacks, and fake trading data occur from time to time.　　A large number of exchanges globally have already faced closures or security incidents due to various issues, resulting in significant user fund losses and market instability. Additionally, there are smaller platforms that imitate well-known exchanges, and even fraudulent exchanges created solely for scams. These platforms typically deceive users into investing and trading by mimicking the interfaces and branding of legitimate platforms. Not only do they lack basic security measures, but they often disappear quickly with the users funds, causing significant financial losses. Due to their short operational lifespans and lack of transparency, many of these fraudulent activities are not disclosed in time, further exacerbating market chaos and user panic.　　The chart below only accounts for well-known exchanges, with amounts exceeding several billion dollars and

2024-08-20Deep Dive

This Week's Noteworthy Events(Aug. 19, 2024-Aug. 25, 2024)

Token Unlocking Events　　According to TokenUnlock, nine tokens will be unlocked this week.　　Notably, AVAX will unlock an amount equivalent to 2.59% of its circulating supply, valued at approximately $210 million, potentially leading to significant selling pressure. Additionally, PIXEL and ID will unlock a high proportion of their circulating supply, which could result in price volatility.Upbits New Service Terms Effective August 19　　According to an official announcement, Upbit will update 34 service terms, effective August 19, 2024. These include new rules on minimum deposit and withdrawal amounts for digital assets and the potential cancellation of open orders during service changes to protect users. Additionally, Upbit will cease deposit services for delisted assets and require users to review minimum deposit and withdrawal thresholds before transactions.Binance to Delist Six Tokens Starting August 19　　Binance has announced the gradual delisting and termination of all trading related to six tokens starting August 19, 2024. These tokens include PowerPool (CVP), Ellipsis (EPX), ForTube (FOR), Loom Network (LOOM), Reef (REEF), and VGX Token (VGX).DOGS Token Claims Now Available via Telegram Wallet and CEX　　In a message posted on their Telegram community, DOGS has opened claims for DOGS tokens through Telegram Wallet and CEX. Users will not receive the tokens immediately, but

2024-08-19Deep Dive

BTC Diverges from U.S. Stocks: Two Key Factors Driving Bitcoin's Trend

The U.S. July retail sales data exceeded expectations across the board, with the overall retail month-on-month growth rate reaching a new high in a year and a half, although the previous months data was revised downward for the eighth consecutive month. The release of this data gradually corrected the recession narrative.　　The Dow Jones opened at 40,295.74 points, up 0.72%, the Ss price movements have often shown a strong correlation with U.S. equities, certain factors have caused sharp short-term fluctuations in BTC prices.Selling Pressure　　In recent years, governments have seized large amounts of BTC obtained through illegal activities, which could become selling pressure in the market, influencing traders sentiment.　　On August 14, blockchain analytics platform Arkham Intelligence detected a new Bitcoin transfer by the U.S. government. According to Arkhams report, the government transferred 10,000 BTC, worth $593.5 million, from assets seized during the Silk Road crackdown.　　Movements of on-chain assets, especially transfers to exchanges, are often seen as a signal of selling. This large Bitcoin transfer indeed caught the attention of the cryptocurrency community, sparking speculation about its destination and the potential impact on an already troubled market.Macroeconomic Factors　　Bitcoins price is influenced by various macroeconomic factors, which impact the Bitcoin market through channels such

2024-08-16Deep Dive

Unveiling Monad: The Next Frontier in High-Performance Blockchain and Its Leading Projects

Users who focus on infrastructure, Layer1, and scalability are likely already familiar with Monad. Over the past two years, Monad has attracted a large following thanks to its significant funding and the deep experience of its founding team. According to public information, Monad has raised a total of $244 million, with participation from top-tier institutions such as Paradigm and Coinbase Ventures.　　Monad is centered around the concept of “Parallel EVM,” which accelerates Ethereum transactions through pipelined execution, supporting up to 10,000 transactions per second. The founders, Keone Hon and James Hunsaker, previously worked at Jump Trading for eight years. During their time at Jump, Keone managed a high-frequency trading (HFT) team, while James built an ultra-low-latency trading system that handled billions of dollars in daily trading volume across major futures markets. This strong background is a key reason why Monad has been able to secure such high levels of funding and attract attention from top-tier investors.　　Jump Trading has recently slowed down its activities in the crypto industry, and starting in late July, it began selling large amounts of ETH, signaling a possible gradual withdrawal from the crypto space. Despite being a project founded by former Jump employees, Monad appears to have

2024-08-15Deep Dive

The Prelude to WikiEXPO Thailand - "Pick Your Favorite Trading Method and Discover Keys to Wealth"

WikiEXPO has launched the nationwide voting campaign “Pick Your Favorite Trading Method” in Thailand, with active participation from top KOLs and seasoned investors. The first round of voting has successfully ended, and we thank every voter for their enthusiastic support! Now, lets embark on a journey from Thailand to explore the global investment landscape and unlock a new chapter of wealth together.　　Global Perspective, Professional Insights　　In addition, WikiEXPO has elabrately prepared a series of knowledge events, inviting renowned industry KOLs to regularly share their professional insights on social media platforms. They will analyze the advantages and disadvantages, operational techniques, considerations, and practical experiences of various trading methods. Whether you are a newcomer to the market or an experienced veteran, you will find valuable resources to enhance your skills here.　　Thought Exchange at the Event　　One of the most anticipated highlights is the roundtable discussions at the WikiEXPO Thailand exhibition. At that time, numerous industry leaders will gather to conduct an in-depth analysis and interpretation of the voting results, providing the audience with cutting-edge industry trend analyses and insights. This will not only be a technical exchange but also a collision of wisdom, inspiring more thoughts and ideas about the future of the investment

2024-08-14Deep Dive

Analysis of the Bitcoin Scaling Solution: Fractal Bitcoin

In March 2023, developer Domo introduced the BRC-20 standard using the Ordinals protocol and Inscriptions, allowing users to issue and trade tokens on the Bitcoin network, similar to Ethereums ERC-20 standard. The issuance of new assets created significant wealth opportunities, attracting the attention of many developers and venture capitalists to the Bitcoin ecosystem.　　With the rise of the Ordinals protocol and the BRC-20 standard, user-friendly asset management tools and trading markets became essential for participants. Unisat is a browser-based wallet focused on the Bitcoin blockchain, specifically on the Ordinals and BRC-20 standards. Leveraging its first-mover advantage, Unisat has captured a significant market share.　　The explosive popularity of “Inscriptions” not only drew the attention of the public and developers to the Bitcoin ecosystem but also highlighted the potential to unlock Bitcoins vast potential. This led to a growing demand for scalability.　　Fractal is a Bitcoin Layer 2 solution co-developed by the Unisat team, BSF, Uniworlds, and Asset Bridge. It is the only solution that uses Bitcoins core code to recursively expand infinite layers on top of the Bitcoin blockchain, using BRC-20 token Sats as the gas fee.Fractal Bitcoin Explained　　Fractal Bitcoin improves transaction processing capacity and speed by recursively creating infinite expansion layers on the

2024-08-13Deep Dive

This Week's Noteworthy Events(Aug.12, 2024-Aug.18, 2024)

Major Token UnlocksThe Sandbox (SAND) will unlock approximately 205.6 million tokens at 08:00 UTC on August 14, representing 9% of the current circulating supply, with an estimated value of $54.5 million.Arbitrum (ARB) will unlock approximately 92.65 million tokens at 13:00 UTC on August 16, representing 2.77% of the current circulating supply, with an estimated value of $53.4 million.Trump: Scheduled Interview with Elon Musk This Monday Evening　　According to Reuters, Republican presidential candidate Donald Trump has announced a major interview with Elon Musk, scheduled for the evening of August 12 (Monday). Trump shared this news on social media but provided no specific details.Immutable to Shut Down Immutable X Marketplace on August 13　　Immutable recently announced that it will shut down its Immutable X Marketplace on August 13, with a full cessation of operations on September 27. Initially launched to showcase the capabilities of the Immutable SDK, the focus will now shift to supporting third-party marketplaces instead of maintaining its own trading platform. However, users of the Immutable Marketplace do not need to take any additional steps for their assets, as all NFTs and tokens are stored on the blockchain and linked to users wallet addresses, accessible across different markets using Immutables global order

2024-08-12Deep Dive

WikiBit x Reflection: Share & Win 100 USDT Giveaway!

Total Prize Pool: $100 USDT　　10 Lucky Winners will each be rewarded with 10 USDT.　　Event Duration:　　(UTC+8) 2024-08-08 21:00 ~ 2024-08-15 21:00　　How to Participate:　　Follow on Twitter: @ReflectionAI_ s personality and traits.

2024-08-09Deep Dive

Is Jump Trading, a Major Market Maker in Crypto, Facing Issues? What Risks Should We Watch For?

Jump Trading is a high-frequency trading company founded in 1999. It operates globally across multiple asset classes, including stocks, futures, options, and cryptocurrencies. Known for its advanced technology and algorithmic trading strategies, Jump Trading profits through rapid execution and market arbitrage. Jump Crypto, a subsidiary of Jump Trading, focuses on providing liquidity and market making in the cryptocurrency market.　　The specific assets under management (AUM) and recent revenue figures for Jump Trading are not publicly disclosed. However, publicly available information suggests that the company earns close to hundreds of millions of dollars annually. On May 9, 2023, a lawsuit alleged that Jump Trading participated in market manipulation of the stablecoin UST and aided Do Kwon, claiming that “Jump made over $1.28 billion in profits from selling the LUNA tokens it received at a steep discount in exchange for artificially propping up the price of UST and aUST.” On-chain data shows that Jump Trading held assets worth over $9.6 billion at its peak.　　During a recent market event on Monday, there are two views regarding Jumps significant token sell-off: one suggests Jumps sell-off caused the crypto market crash, while the other believes the total amount sold by Jump Trading was not substantial enough

2024-08-08Deep Dive

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