Lotte World Unveils Theme Park Maps in Metaverse Platform The Sandbox

Scroll’s zkEVM Launches on Ethereum MainnetScroll, the Seychelles-headquartered project behind the Ethereum layer-2 network of the same name, has officially made its debut on the Ethereum mainnet.Photo by Zoltan Tasi on UnsplashAttempting to solve for scalabilityThe project team announced the development via a press release which was published on Tuesday. The network launch signifies the latest in a series of attempts by various layer-2 projects, including Polygon and StarkWare, to address the persistent challenges of high transaction fees and network congestion that have hindered Ethereum’s usability in recent times. Speaking to layer-2 development, co-founder Sandy Peng stated:“We see a future where the vast majority of value transfer takes place on Layer 2s on Ethereum. What will drive that adoption is improved user and developer experience.”After testing and refinement on its testnet, Scroll believes that it is in a good position to play an active role within the Ethereum ecosystem by providing a general-purpose, zero-knowledge Ethereum virtual machine (zkEVM) roll-up.The project has 900,000 wallet addresses in active use on its testnet, having executed seven million transactions since August. The testnet has seen over 55 million transactions during its year-long operation.At its core, Scroll’s mission is to combine Ethereum’s network security with reduced fees and lower latency, making it an attractive proposition for existing Ethereum projects. According to Peng, Ethereum developers can seamlessly deploy their projects on Scroll and harness the groundbreaking zkEVM technology.Incorporating bytecodePeng emphasized the significance of zkEVM’s ability to batch proofs efficiently, resulting in faster transaction speeds and cost reductions, thanks to its bytecode-level compatibility.Bytecode, in the realm of computer programming, simplifies intricate machine cryptography, making code more accessible for computer hardware. Scroll allows deployed smart contracts to store the bytecode of their transactions, which is then sent to a centralized zkEVM node. This node verifies the transaction’s accuracy without revealing its content. Once verified, the transaction’s status is updated on the Ethereum network, eliminating the need for re-execution. Peng pointed out:“Thanks to this feature, Ethereum devs can leverage all the same tools they are familiar with, ensuring that everything operates seamlessly right from the start.”Scroll’s mainnet code was subject to audits conducted by four major auditing firms, namely Zellic, Trail of Bits, OpenZeppelin, and KALOS, in an effort to ensure robust security and reliability.Efforts towards greater decentralizationWhile Scroll’s current implementation offers compelling features, the team is actively researching ways to further enhance the network’s decentralization. Currently, if the sequencer goes offline, the protocol halts, creating a potential vulnerability. To address this, the Scroll team is working on a protocol upgrade that will enable “forced batches.” This update will allow permissionless publication of batches through the base layer, even in the event of a sequencer halt.Peng elaborated on the team’s vision, stating: “Mid-term, the goal is to minimize the probability of a sequencer halt through decentralization.” This approach aims to bolster the network’s resilience and ensure a smoother user experience.While headquartered in the Seychelles, the project has its origins in China through its Chinese founders, Ye Zhang and Haichen Shen, alongside Peng, with many of its 60-strong project team based in mainland China and Hong Kong.

Singapore’s SAI.TECH, a bitcoin miner and mining infrastructure hardware developer, has chosen to consolidate its product offering. The company has simplified its product range by categorizing them as Ultiaas, Boltbit, and Heatnuc. Virtual annual conferenceThe company took the opportunity to host SAITIME 2023, a virtual corporate annual conference, using the event as a platform to announce its SAIHUB product consolidation.Ultiaas will focus on the development of hardware and software products alongside integrated solutions, in order to enable liquid cooling and heat reuse capabilities while attempting to achieve optimized energy efficiency. In practical terms, these products convert mining chip heat into reusable energy.The team behind the Ultiaas product line believes that the technology can have a significant positive effect on data centers through the harnessing of chip heat in commercial, residential, industrial and agricultural locations. The firm has thoroughly tested the product, with its first successful operation at its testing and distribution facility in Ohio in the United States. According to a press release, the company says that “we look to tap into the state’s vast reservoir of clean energy.” With that, it is already working on the construction of a second site.The green bitcoin mining specialist recycles 90% of the waste heat produced in the mining process, thanks to the technology that it has developed.Boltbit concerns itself with the provision of decentralized transaction system services and technical support. It focuses on blockchain and lightning network technology. Lastly, Heatnuc will focus on the research and promotion of small modular reactors. Unusual price actionThe company, which listed on the Nasdaq last year following a special purpose acquisition companies (SPAC) merger in 2021, was the center of some speculative interest last week. The firm’s shares surged by over 360% to a high of $7.42 in one day’s trading. A week on, the share price has calmed down, trading at $3.68 on Friday. The rationale behind the short-lived share price surge remains a mystery. Kazakhstan scale-backIn August of last year, SAI.TECH decided to scale back an active bitcoin mining site that it is involved in in Kazakhstan. A second phase of the project would have brought 90 MW online. It is still working on phase 1 which will bring 15 MW online.Kazakhstan had seen an influx of bitcoin miners in the wake of a China mining ban a few years ago. The sudden surge in energy consumption on the Kazakh energy grid upset the national power supply, resulting in protests and riots. The country then pushed back against the miners, disconnecting many projects from the grid. It was against this background that it’s understood SAI.TECH decided to scale back its plans in the landlocked Eurasian country.

MARBLEX Introduces New Update to Multichain ServiceSouth Korean gaming developer Netmarble announced last Friday that its blockchain subsidiary, MARBLEX, has updated its multichain service Warp.Photo by Shubham Dhage on UnsplashCross-chain accessibilityWarp is a bridge service that enables the exchange between its native token, MARBLEX (MBX), and bridge token, MBXL, while allowing MBX tokens to move across blockchain networks. With this update, BNB Chain users can now access services within the MBX ecosystem, including games and NFTs. The recent update is expected to attract an influx of BNB Chain users after MARBLEX previously entered into a strategic partnership with the network in February to expand its multichain ecosystem.Furthermore, MARBLEX intends to continue applying its convenient user-friendly service approach by maintaining its existing system for gas fee payments.Celebratory eventsMARBLEX is hosting special events worth a total of $240,000 to mark the new update, including an offering of liquidity pools in two forms — BNB-MBX pairs and USDT-MBX pairs — on the decentralized exchange PancakeSwap. The company also plans to reward MBX for staking in Syrup Pools within PancakeSwap, which are special staking processes where users can earn free tokens.The developer also plans to hold an online community event for service users.