Welcome again to Chain Response.
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Final week we didn’t publish a Chain Response e-newsletter, due to Thanksgiving. However we’re again at it this week and saying goodbye to November after a protracted, eventful month stuffed with lawsuits, value adjustments and the standard crypto chaos.
Let’s get into it.
What’s occurring in web3
- Crypto enforcers wielded a heavy hand this year, but don’t expect it to get softer in 2024 (TC+)
- Optimism execs are optimistic for Ethereum’s future amid its ongoing scaling battle (TC+)
- Just how big of a recovery will it take to bring investors back to web3? (TC+)
- Binance and CEO ‘CZ’ plead guilty to federal charges, agreed to pay $4.3B in fines
- China’s tech giants dip their toes into web3, but prospects are limited so far
The most recent pod
Optimism is an Ethereum-focused layer-2 blockchain that focuses on scaling and pace, whereas additionally decreasing prices for customers. It helps customers work together with Ethereum for about 10x cheaper via its blockchain and offers builders the power to construct decentralized functions (dApps) in a quicker, scalable manner.
Earlier than taking up this new function at Optimism, Ryan had slightly little bit of a break, however was the president of Polygon Labs (he came on the podcast originally of the 12 months to speak about it) and earlier than that, he was YouTube’s head of Gaming.
Jing co-founded Optimism in 2018. Earlier than that she based Plasma Group, a analysis agency targeted on addressing challenges associated to scaling Ethereum. She additionally beforehand managed blockchain initiatives at corporations like Zcash and Nasdaq.
We mentioned how layer-2 blockchains like Optimism try to unravel scalability points on Ethereum and the place Jing and Ryan see progress alternatives proper now.
We additionally talked about:
- Base constructing with Optimism’s tech
- Competitors between Ethereum and different blockchains
- Lengthy-term adoption
- Web3 gaming
Observe the cash
- Acctual raised $3.85 million to assist crypto corporations higher handle their payments
- Web3 training platform Open Campus obtained a $3.15 million funding from Binance Labs
- Wind.app raised over $3 million to make DeFi accessible to common shoppers
- Decentralized perpetual trade MYX raised $5 million in a seed spherical at $50 million valuation
- Blockchain-built health and wellness app Coral obtained a $3 million funding from TealLink
This checklist was compiled with info from Messari in addition to TechCrunch’s personal reporting.
What else we’re writing
Need to department out from the world of web3? Listed below are some articles on TechCrunch that caught our consideration this week.
- The 2024 IPO cohort is coming into focus as Shein, Reddit prep to go public (TC+)
- Here’s everything Amazon Web Services announced at AWS re:Invent
- If I’m being honest, I didn’t have what it takes to be a founder (TC+)
- Apple partner Foxconn to invest $1.5 billion in India
- European startup funding halved to $45B in 2023, says Atomico
Observe me on Twitter @Jacqmelinek for breaking crypto information, memes and extra.