Unravelling the Mystery of 🕵️♀️ Life 🕵️♂️
Researchers use blockchain network to simulate the origin of life. BlackRock’s Bitcoin ETF hits $2B in AUM. Bitcoin could fall back to mid-$20k? Can the forthcoming Ethereum upgrade boost ETH price?
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Polish researchers at the Institute of Organic Chemistry have embarked on a groundbreaking study to simulate the origins of life on Earth.
Their unique approach leverages the power of blockchain technology and distributed computing to tackle this complex scientific puzzle.
From Soup to Humanity
Early Steps: The research team established a preliminary network in 2020, tracing the chemical evolution from simple "prebiotic feedstocks" like water and nitrogen towards more complex molecules.
Scaling Up with Golem: Enter Golem, a layer-2 distributed computing platform. By harnessing the collective processing power of individuals' idle computers, the researchers constructed a network 100,000 times larger than their initial attempt.
Power on Demand: Golem's peer-to-peer network allows individuals to rent out their unused computing power for Golem tokens (GLM), creating a decentralised infrastructure for scientific computing.
In a paper published in the academic journal Chem, the researchers detail how this “counterintuitive marriage” between crypto and origins of life research allowed them to pull off a far bigger version of the network without needing access to supercomputing resources.
Numbers Tell the Story
Crypto Revolutionising Research
Crowdfunding-like approaches to academic research are one of crypto’s burgeoning use cases.
Brian Armstrong, CEO of the cryptocurrency exchange Coinbase, is selling off 2% of his Coinbase equity to fund ResearchHub, a platform dubbed the "GitHub for scientists."
What is ResearchHub? A revolutionary platform that streamlines and incentivises scientific progress.
Here's how it works
Funding research: ResearchHub uses a native cryptocurrency called ResearchCoin (RSC) to fund various scientific endeavours. This opens up alternative funding avenues for underfunded research areas.
Streamlining processes: It facilitates collaboration and knowledge sharing, akin to GitHub for the scientific community.
Rewarding contributions: Researchers and reviewers alike can earn RSC for their contributions, promoting active participation and incentivising high-quality work.
Why the buzz? ResearchHub has made waves in the scientific community for its innovative approach and impressive results.
1000% surge: In late 2023, RSC experienced a remarkable 1000% price appreciation, showcasing the community's growing confidence in the platform.
Attracting support: Armstrong's significant investment further validates ResearchHub's potential and attracts new stakeholders to the platform.
Academic professionals in underfunded research areas have also increasingly been turning to DAOs as an easier stream of funding.
TTD Numbers 🔢
The market cap of BlackRock's Bitcoin exchange-traded fund (ETF) in just two weeks after it debuted on the Nasdaq.
Bloomberg Intelligence analyst James Seyffart wrote in a post on X.
"The bitcoin price has pushed IBIT's assets beyond $2 billion. This plus likely new flows today should mean it will be above $2 billion at close."
Total trading volume for spot bitcoin ETFs has surpassed $22 billion since investors gained the ability to buy and sell the instruments earlier this month, according to Yahoo Finance data compiled by The Block.
TTD Blockquote 🔊
Chris Burniske, partner at venture capital firm Placeholder.
"As always, patience is your friend … The path to get there will be volatile – expect fakeouts – and will take months to play out."
The former crypto lead at Ark Invest, believes that the local bottom for Bitcoin (BTC) has not been reached. He anticipates the price to drop to the $30,000-$36,000 range and suggests that testing the mid-high $20,000 area wouldn't be surprising before a potential move towards a new all-time high.
Bloomberg analyst James Seyffart said the chance of spot Ethereum ETFs being approved in May is about 60%, but the SEC has many ways to delay it 👇
TTD Upgrade 🪁
A new study finds Ethereum's governance decisions significantly impact Ether prices.
Prices rise ahead of key discussions and approvals of Ethereum Improvement Proposals (EIPs).
A small group wields significant power in the EIP process.
The upcoming Dencun upgrade could see another price increase.
Implications for Investors: Governance events can be key indicators for investment strategies.
Ether's performance often diverges from traditional markets.
TTD OpenSea 🌊
The once-dominant NFT marketplace faces challenges with declining trading volume and rival Blur's rise.
Losing Market Share: OpenSea's monthly trading volume has plummeted 96% since January 2022, while Blur, launched in late 2022, now sees five times the daily volume.
VCs May Welcome a Deal: Investors like Andreessen Horowitz, Paradigm and Ashton Kutcher may be open to selling their stakes. Coatue Management has already slashed its valuation by 90%.
Talent Acquisition Spree: OpenSea has acquired companies like Gem, Dharma, and Mintdrop for their talent and expertise.
Restructuring, Not Downsizing: Layoffs late last year were strategic adjustments to become a leaner and more agile team, not due to financial pressure.
Banking on NFTs: OpenSea sees promising trends like users redeeming NFTs for physical goods and brands building digital experiences in the metaverse. Fashion houses like Gucci are now entering the NFT space with a deeper understanding and sophisticated projects.
TTD Surfer 🏄
The Italian city of Trento was fined €54,000 for misusing AI in two research projects.
imgnAI raises $1.6 million to launch a "digital companion" product that uses AI to generate images.
Crypto mining rig maker Canaan raises $50 million to expand production and research despite a 32% stock price drop this month.
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