- According to cryptocurrency researcher Mando, the top 20 holders of PEPE, DOGE, FLOKI, and SHIB control a significant portion of the token supplies: 52.9% for PEPE, 53.2% for DOGE, 65.3% for FLOKI, and 67.9% for SHIB. Furthermore, 75% of the PEPE supply held by the top 20 holders comes from centralized exchange (CEX) accounts.
This high concentration of ownership raises concerns about potential market manipulation and has implications for price stability. The centralization of these cryptocurrencies' supplies in the hands of a few large holders creates a more significant risk of price manipulation and volatility for retail investors.
- Ola, a programmable privacy and scalability solution, has recently integrated the Poseidon2 hash into its proof system, resulting in over a 40% improvement in prover performance compared to the original Poseidon hash.
Poseidon2 is a new hash algorithm that maintains the same level of security as Poseidon hash while offering better zk-friendly features. Ola's proof system includes several zk-friendly hash algorithms, such as private state tree, public state tree, signature verification process, and plonky2 recursive process.
Ola announced that its zkVM testnet is set to launch in early Q4 this year, with more development details to be revealed soon.
- Reliance Industries Ltd., chaired by Asia's richest man, Mukesh Ambani, is entering into blockchain and central bank digital currencies (CBDCs) through its new financial services subsidiary, Jio Financial Services (JFS). Launched earlier this month, JFS will consolidate payment infrastructure, offering services for both consumers and merchants, and focus on exploring pathbreaking features such as blockchain-based platforms and CBDCs.
Reliance Retail, the largest retail chain in India, previously accepted the country's digital rupee or CBDC during its pilot phase in February 2023. Now, with the announcement of Ambani's interest in the space, the company is expected to fully embrace CBDCs and blockchain technologies.
