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Building a decentralized exchange on Bitcoin would be a “step backward,” for example, said Bitcoin developer Super Testnet. One of the developers working on “BitVM” — a Bitcoin-based virtual machine — reiterates the tech is intended to scale Bitcoin rather than launching Ethereum-like decentralized finance applications on the network. BitVM’s whitepaper was released by ZeroSync’s project lead Robin Linus on Oct. 10 with technical support provided by pseudonymous developer “Super Testnet” — implementing BitVM’s first proof-of-concept and working on expanding BitVM’s capabilities. Upon its release, some industry pundits formed the impression that BitVM would bring DeFi to Bitcoin like what the Ethereum Virtual Machine (EVM) did for Ethereum. Lightning also fall short in the scaling department. It's nowhere near solving scalability. We need more complementary things. > this is just another defi on bitcoin attempt. Again, the motivation behind BitVM by the author was not DeFi. It ...

1inch Network is the latest decentralized Finance protocol to deploy on Ethereum layer-2 scaling platform zkSync Era. Decentralized finance (DeFi) protocol 1inch has deployed its aggregation and limit order protocols on Ethereum layer-2 scaling solution zkSync Era to tap into faster and cheaper transactions. 1inch Network is the latest of a host of Ethereum-based platform s and services to deploy on the zero-knowledge proof (zk-proof) based scaling platform . Uniswap, SushiSwap, Maker and Curve Finance have also launched on the zk-proof roll-up zkSync Era. 1inch Network co-founder Sergej Kunz highlighted the promise of the layer-2 solution as his platform joins a handful of first-movers to integrate with the zk-proof powered protocol: “As zkSync Era gains steam, 1inch users will benefit from faster and cheaper transactions.” A statement from Matter Labs CEO Alex Gluchowski, who heads up the zkSync development firm, notes that DeFi protocols have been a major factor in the uptake o...

Derivatives played a major role in the last bull market and it’s highly likely that they will be integral in the market’s evolution in 2023. Futures and options let traders put down only a tiny portion of a trade’s value and bet that prices will go up or down to a certain point within a certain period. It can make traders' profits bigger because they can borrow more money to add to their positions, but it can also boost their losses much if the market moves against them. Even though the market for crypto derivatives is growing, the instruments and infrastructure that support it are not as developed as those in traditional financial markets. Next year will be the year that crypto derivatives reach a new level of growth and market maturity because the infrastructure has been built and improved this ye, and an increasing number of institutions are getting involved. Crypto derivatives' growth in 2023 In 2023, the volume of crypto derivatives will continue to grow because of two f...