Week in Internet Computer (#ICP) News, July 02, 2023

Author

Week in Internet Computer (#ICP) News
July 02, 2023

Important Announcements

  • Jun 27, Total supply of Icp tokens has inflated past 500 million.The burn mechanism isn't burning enough ICP compared to the inflation the Neurons, Rewards produce.

  • @rdobrik mentioned in forum that the ICP blockchain platform is likely the only platform capable of executing ISO20022 compatible transactions at a significantly lower cost compared to traditional systems.

Governance

New Nodes Provider Proposal

Events This Week

  • Jun 27, Dominic had an exclusive conversation with Cointelegraph Middle East.

  • Jun 26, ICP Developer Community AMA by ICP Asia.

IC Protocol Updates and Forum Digest

  • Core Protocol Progress

    • Deterministic Time Slicing - no updates

    • Improved I/O Handling in State Manager - no updates

    • AMD SEV Virtual Machine Support - no updates

  • Boundary Nodes

    • Latest update: no update.

  • Governance related

    • Composite Queries

      • Latest update: Jun 28, Stefan from DFINITY team showed Composite Query demo on Jun global R&D and mentioned that all replica changes have been added into code and are planning to release code for vote. About Temporary limitations for composite queries:

        • No cross subnet calls

        • No replicated execution (cannot call as update call)

SNS Updates

Applications & Builders

  • Total Staked ICP: Jul 02, 254’322’903 ICP (50.9%)

  • Global R&D Meeting

    • Jun R&D Meeting Highlights

      • Feature: throughput increase - file-backed allocator solution

        • Backpack page deltas by means of on-disk files

        • What gets written in memory, mirrored on disk

        • When memory is scarce overall

          • Drop data from memory

          • Keep only on-disc copy

        • Improvement: short queries 1.75X, memory intensice 19.X, CPU intensive queries 2X.

      • Feature: Was-native stable memory - Increase performance of stable memory will be rolled out to all subnet by next week and community will see the performance improvements.

        • Handle stable memory API calls purely within Wasm code

        • Remove overhead of context switch to the Wasm runtime

    • Feature: Motoko: incremental garbage collector - use the full heap space, DFINITY team invite community to try the new feature

      • 4 implementation phases

        • Marking phase to mark all reachable objects

        • Evacuation phase to focus on high-garbage partitions

        • Redirection accesses phase to forwarding pointer

        • Updating phase to update pointers & free evacuated partitions

    • Feature: SNS-testing local environment to test dapps SNS decentalization before launch.

  • Hackathons

    • July 5th, Internet Computer BUIDL Bitcoin Hackathon: Finale and Prizegiving

    • The ICP-Nigeria Campus Blockchain Bootcamp and Hackathon https://twitter.com/HackathonAfrika

      • Phase 1 of the Campus Blockchain Hackathon and Bootcamp has concluded successfully!

  • New members in Ecosystem: Big welcome!

    • Hashkey DID system: a decentralized identity solution to provide users with self-sovereign identities.

    • Tokenomics Simulator Toolkit: a free online tool for learning & understanding tokenomics. Users can simulate and evaluate tokenomics interactively

    • union-db: an infinite database that abstracts away the complexity behind data scaling

    • 221Bravo: taking complex ICP transaction data and making it simple, engaging, useful.

    • SatoshiNotes: helps people to get organized, save their notes, share them, or sell them

    • Ruby Agent Library: a client library to interact with canisters on the Internet Computer.

    • CodeGov: catalyzing participation in ICP replica version management.

    • CycleOps: a proactive, automated, no-code canister management tool on the IC.

    • Orally Network:Experience secure and reliable real-world data for your smart contracts, with unparalleled efficiency and decentralization

  • Ecosystem Projects Highlights:

    • seems everyone in holiday mood….

Community Highlights

  • Events

    • ICP Hub North America collaborated with @lumoslabsHQ to bring value to developers and founders across North America.

    • SynergyLabs connected with the vibrant NFT community in Malaysia.

    • @CrewsphereIN ICP India Hub annouced partnership with @QuillAudits https://twitter.com/QuillAudits

    • Codeandstate: ICP Conference Talk #02 | Bob Bodily: “BTC & Ordinals on ICP”

Update Coming Events

  • July 4 Summer Offchain Chill @DFINITY HQ,Zurich

  • July 5, Digital Solidarity

  • July5-7 ETH Barcelona

  • July 7 On-Chain Meetup@ETHBarcelona

  • July 17 Bonjour ETH！ICP Rooftop Soiree

  • Jul17-20, ETHCC Paris, The Maison de la Mutualité, Paris, France

  • Jul 26, BuidlerCon 2023 & Web3 Non-EVM Eco Summit, Hongkong

  • Sep 11 - 14, ICP.Lab Gaming & Metaverse workshop, DFINITY HQ, Zurich,CH

General Regulations

  • The European Commission published its legislative plans to underpin a digital euro on Wednesday, saying it would ensure Europeans can pay digitally for free across the currency zone.

  • Singapore's central bank is proposing ways to design open, interoperable networks for tokenized digital assets.

  • Brazil’s central bank authorized on Thursday the largest local crypto exchange, Mercado Bitcoin, to participate in the pilot of the digital real, the South American country’s central bank digital currency (CBDC).

  • Belgium is the latest country to take action against Binance, this time ordering the company to stop offering services.

Industry News

  • Banking giant JPMorgan (JPM) has expanded its blockchain-based settlement token JPM Coin to euro-denominated payments, Bloomberg reported on Friday.

  • NEAR Foundation Partners With Alibaba Cloud to Accelerate Web3 Growth in Asia.

  • Standard Chartered is developing an initial token offering platform to issue asset-backed security tokens listed on the Singapore Exchange. The bank will work with payments platform Linklogis.

  • ERC-1404: Simple Restricted Token Standard, is designed for security tokens, tokenized securities and other tokens that carry complex compliance requirements.

  • Crypto Custody Firm Ledger Introduces Institutional-Grade Trading Network.