Web3 Weekly Pulse: 16th to 22nd October

Hello, Web3 Enthusiasts! 🚀

Welcome back to another electrifying episode of Web3 Weekly Pulse. We're absolutely thrilled to have you with us as we set sail on yet another adventure through the ever-evolving world of Web3 technology.

Hold onto your hats for an exhilarating journey through the latest trends, revolutionary infrastructure updates, and a constellation of exciting events within this dynamic ecosystem.

Our mission? To keep you at the cutting edge of this transformative tech landscape. So, whether you're enjoying your favorite brew or cozied up in your favorite nook, brace yourselves for an adrenaline-pumping ride, because we're diving in headfirst! 💫🌐

1️⃣ Circle, the issuer of USDC, has unveiled two new tools designed to enhance web3 development. The Gas Station tool, integrated with Circle's programmable wallets, eliminates transaction "gas" fees. Meanwhile, the Smart Contract Platform simplifies smart contract operations, including importing, deployment, and management. It offers API support for Ethereum, Polygon, and Avalanche. These additions signify Circle's commitment to web3 services.

Circle launches gas abstraction and smart contract beta tools amid push into web3 services

Gas Station nixes gas fees on Circle’s programmable wallets, and Smart Contract Platform simplifies smart contract deployment and management.

The BlockMK Manoylov

2️⃣ Reddit has announced the discontinuation of its blockchain-based reward service, Community Points, which was introduced three years ago. The decision is primarily attributed to challenges in scaling the service and the increasingly stringent regulatory landscape surrounding cryptocurrency projects.

Reddit is killing blockchain-based Community Points | TechCrunch

Citing scaling issues, Reddit is shutting down its blockchain-based Community Points in favor of prioritizing other rewards programs.

TechCrunchMorgan Sung

3️⃣ Fidelity Digital Assets has made history as the inaugural enterprise client to adopt EY's latest-generation Blockchain Analyzer: Reconciler product. This cutting-edge tool is accessible through EY Blockchain's Software as a Service (SaaS) platform. Fidelity intends to utilize the web-based analytics dashboard to query on-chain data, primarily for risk management functions.

Fidelity Digital Assets becomes first enterprise client of EY’s blockchain tool

Fidelity Digital Assets will leverage the web-based analytics dashboard to query on-chain data for risk management purposes.

The BlockJames Hunt

1️⃣ Scroll has officially unveiled its mainnet, showcasing its distinctive bytecode-level, Ethereum Virtual Machine (EVM)-compatible zkEVM. This innovation aims to offer an experience closely mirroring that of Ethereum. Prior to this launch, Scroll had successfully executed more than 55 million transactions on its Alpha and Beta testnets, with nearly 1 million batches of transactions completed on Layer 1. The next significant step on Scroll's roadmap involves the development of a decentralized proof network and a decentralized sequencer.

Scroll Confirms Mainnet Live, as Co-Founder Predicts Speed Gains Over Ethereum

Blockchain data showed that Scroll’s smart contract was deployed on Oct. 8, but the team held off making its official announcement until this week.

CoinDeskMargaux Nijkerk

2️⃣ Manta's Pacific Network, initially launched as a layer-2 blockchain on OP Labs' OP Stack for optimistic rollups, has set its sights on transitioning to a zk-rollup solution, utilizing Polygon technology. This move intensifies the competition among technology teams striving to offer accessible solutions for companies and developers to create their layer-2 networks on the Ethereum platform.

Manta’s Layer-2 Blockchain Already Plans to Ditch OP Stack for Polygon

The network, which just went live a couple weeks ago as a so-called optimistic rollup – the core underpinning of OP Stack – will now become a “ZK-rollup,” which is what Polygon’s software kit provides.

CoinDeskMargaux Nijkerk

3️⃣ Coinbase-incubated Layer 2 network Base has made its code repositories open source in a bid to boost transparency and invite contributions from the public. Developers can now access the underlying code, encompassing various Base processes such as contracts and deployments. This move is aimed at fostering greater openness and collaboration within the project.

Coinbase-incubated Layer 2 Base open-sources code to enhance transparency

Coinbase-incubated Base has open-sourced its smart contracts and web repositories as part of its commitment to building in the open.

The BlockJames Hunt

Ethereum

Ethereum’s Goerli testnet deprecation is coming to the end soon. - link

Polygon

Polygon proposes a Council for ‘Decentralized Governance,’ which names 13 Members. - link

BNB Chain

BNB Greenfield Mainnet is live. - link

Avalanche

Avalanche devs are introducing AvalancheOps, the easiest way to spin up Developer Networks (Devnets). - link

Arbitrum

Arbitrum’s Offchain Labs reminded developers about new updates in Arbitrum Orbit. - link

Optimism

Optimism is welcoming PoolTogether v5. - link

Aptos

Aptos suffered an outage which lasted more than five hours while hosting a mass drawing application to celebrate its one-year anniversary. - link

Sui

Sui’s Total Value Locked (TVL) doubled from $30M to $60M in less than 30 days. link

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