DWF Labs Enters Into Strategic Partnership with TRON

Hong Kong-based game software company Animoca Brands has announced its foray into the Bitcoin industry by endorsing the Opal Foundation, a novel Bitcoin ecosystem protocol. The move involves the Opal Protocol and BLIF token, initiated by Animoca Brands and Darewise, a metaverse technology platform. On April 30, Animoca Brands disclosed its plans to become the "largest Web3 ecosystem" for gaming, education and culture built on Bitcoin. The company aims to establish the Opal Protocol and BLIF token as key components of this ecosystem.Photo by Kanchanara on UnsplashBLIF token and Opal ProtocolThe BLIF token, also known as the Opal Protocol Runes token, is hailed by Animoca as a means to enable a "true digital life" on Bitcoin. According to Animoca's executive chairman and co-founder Yat Siu, Bitcoin is now primed for Web3, transitioning from a mere store of value to a store of culture for the Web3 age. Six of Animoca Brands' portfolio companies have already joined as Genesis members, signaling a strong start for the Opal Protocol. Additionally, all future Bitcoin-based projects from Animoca Brands will collaborate with the Opal Foundation. Launched in 2024, the Opal protocol positions itself as a decentralized ecosystem protocol on Bitcoin, powered by BLIF. Its litepaper describes it as a seamless blend of virtual and real-life experiences, offering digital extensions of reality across various domains such as banking, entertainment, education and social interactions. The launch date of the Opal protocol and BLIF airdrop is yet to be announced, but Opal's Telegram group has hinted at its impending arrival. Despite not being operational, Opal's X profile already boasts over 270,000 subscribers. Strategic partnershipAnimoca Brands is hailed as the first strategic launch partner for the Opal Foundation. The company's collaboration aims to integrate its vision into the open Opal protocol on Bitcoin and ordinals. Animoca's venture into Bitcoin coincides with the recent trading debut of spot Bitcoin and Ether exchange-traded funds (ETF) in Hong Kong. However, the initial trading volumes of these ETFs were relatively modest compared to spot Bitcoin ETFs launched in the United States in January 2024. 

AndUs to implement ZK rollups on Its public permissionless blockchainAndUs, the South Korean developer of public permissionless blockchain Anduschain, announced on Wednesday (local time) that it is preparing to implement zero-knowledge (ZK) rollup technology into its blockchain to enhance scalability and security. ZK rollups are layer-2 scaling solutions that move transactions off-chain to increase throughput on the Ethereum mainnet.Photo by Shubham Dhage on UnsplashPerspective on ZK rollupsMany Korean projects are focused on developing various layer-2 solutions. Against this backdrop, Park Sung-jun, CEO of AndUs and a Ph.D. in cryptography, believes ZK rollups will eventually surpass the currently popular optimistic rollups as the mainstream technology. Although both ZK and optimistic rollups improve scalability by processing transactions off-chain, they differ in their approaches: ZK rollups rely on validity proofs, while optimistic rollups utilize fraud proofs.Introduction next yearHolding this belief, AndUs has formulated a ZK rollup implementation plan and has begun its development, aiming to introduce it by next year. Park commented that this upgrade will significantly improve the blockchain’s speed and expressed plans to offer the world’s lowest gas fees.AndUs claims that their DEB consensus algorithm focuses on fairness, enabling nodes to engage in mining without preconditions. Furthermore, Anduschain’s ZK rollups will be fully compatible with Ethereum virtual machines (EVMs), facilitating a seamless transition of decentralized applications (dApps). The cryptocurrency used on Anduschain is named DEB, and it is currently listed on cryptocurrency exchanges ProBit Global and MEXC, according to CoinMarketCap.AndUs has been participating in the Tech Incubator Program for Startups (TIPS) program, which is led by private investments under the guidance of the Korean Ministry of SMEs and Startups.

Samjong KPMG and Xangle to explore on-chain data for crypto accountingSamjong KPMG, the South Korean branch of accounting giant KPMG, is set to collaborate with digital asset data research platform Xangle to conduct a joint study focused on discovering different ways to apply on-chain data in the realm of cryptocurrency accounting. That’s according to a report by local news outlet The Korea Economic Daily.On-chain data encompasses all transaction records found on a blockchain. This type of data enables real-time verification of transactions, benefiting from the blockchain’s transparency and decentralized framework. Despite these advantages, the complexity of accessing and interpreting on-chain data is often seen as a barrier to entry, requiring specialized knowledge.Photo by Sasun Bughdaryan on UnsplashCrypto accounting and tax filingThe partnership between the two entities is poised to tackle challenges in the crypto sector faced by enterprises. Samjong KPMG will use this collaboration to improve their cryptocurrency consulting services, offering solutions in areas like virtual asset issuance, asset management and disclosure, internal controls and the accounting and tax filing complexities associated with cryptocurrencies.ERP solutions for virtual assetsMeanwhile, Xangle will have the opportunity to gain insights into the practical needs and concerns of businesses in relation to on-chain data as the company is currently developing enterprise resource planning (ERP) solutions for virtual assets. The joint effort will enhance Xangle’s ability to align technical data with real-world business applications.Park Sung-bae, a Partner at Samjong KPMG, commented on this development, stating that the accounting firm plans to utilize the outcomes of their joint study with Xangle to address the uncertainties surrounding virtual asset disclosure requirements. This initiative is aimed at improving accounting transparency within South Korea’s cryptocurrency market.Lee Hyun-woo, Co-CEO of Xangle, highlighted that the company has concentrated on establishing the necessary infrastructure for processing on-chain data and conducting research to deepen their understanding of it. He added that their latest collaboration with Samjong KPMG will enhance Xangle’s expertise in the areas of cryptocurrency taxes and accounting. Lee underlined the platform’s commitment to streamlining the accounting processes related to virtual assets, viewing it as an initial step towards facilitating broader Web3 adoption.