Week in Internet Computer (#ICP) News, Nov 4 , 2023

Important announcements

• ICP.Hub in Portugal is officially launched to accelerate Web3 adoption and connect with developers and builders.

Governance Proposals

• Proposal 125367, Internet Computer topology - Optimisation model.

New Release

• Proposal 125315, enabling ICRC-2 on the ICP ledger.

• Proposal 125316, upgrades the testnet watchdog canister with the goal to improve metrics for better dashboards and alerts.

• Proposal 125318, added approveTransfer in icrc-ledger API.

• Proposal 125319, Updated libraries provided by the ic repository to release-2023-06-07_23-01.

New Nodes Provider Proposal

• Proposal 125378, Register a KT datacenter as kr1 in Asia,KR,Seoul.

• Proposal 125359, Register a node provider 'GeoNodes LLC'.

Events This Week

• Oct 30 -Nov 5, Hong Kong Fintech Week 2023

IC Protocol Updates and Forum Digest

• The Ledger & Tokenization Working Group

  •  ICRC-23 is a "meta-standard" that defines namespacing and HTTP namespaces, but there is no standard yet for canister HTTP interface, aiming to avoid namespace clashes. Dieter will provide a first draft PR of the standard (as time fits).

  • The ICRC-22 has a 128-byte limit, but the length limit for accounts remains a problem, and DBen is investigating if removing dashes from the ICRC-1 textual representation resolves the issue.

• How-To: Make your own decisions on SNS Treasury Proposals

  • SNSs allow neurons to vote on proposals or delegate voting power to others. Following is based on proposal topics. Trusted neurons may follow All Topics to avoid missing rewards. If undesired, neurons can follow themselves on Transfer SNS treasury funds, manually voting on treasury proposals.

SNS Updates

• Upcoming Querio SNS decentalization sale

  • As the program stated: the program is built on the Internet Computer, the search engine and front-end are running on-chain, providing robust data security and integrity.

Applications & Builders

• Total Staked ICP: 249’208’652 ICP (49%)

• Developer Tools & Docs

  • Developer weekly update Nov 1, 2023: The developer docs have received several updates, including the publication of Level 4 documents, the addition of a new account_identifier method, a new document on canister history, and a new community-contributed JavaScript signature verification library.

• Oct Global R&D Meeting Notes:

  • Updated to the community that annualised 2023 ICP inflation rate is 3.8% , 14.9M ICP has been minted and 19.3M ICP has been accumulated in maturity ytd.

  • Number of active ICP wallets increased rapidly in Oct go beyond 5k!

  • PocketIC -  canister testing with Rust is now live.

  • Introduced "Matched funding" Scheme: scale contribution based on direct participation. The proposal has been approved and the released is planned in early/mid Nov.

  • ICP on Ethereum as ERC - 20 token which is 1:1 backed by real ICP without bridge.

  • Dapp demo: AgorApp, a web3 education and training marketplace.

• New members in Ecosystem: Big welcome!

  • Gold DAO: enable global access to physical gold transactions outside the  banking circle through blockchain.

  • TheGameCompany: cloud gaming.

• Ecosystem Projects Highlights:

  • KINIC: updated that KINIC is the first team to get semantic models working well 100% on-chain.

  • BOOM DAO:

    • announced the technical design for On-Chain Multiplayer roadmap milestone.

    •  The proposal for BOOM Games Software Ltd to get funding from the BOOM DAO SNS to advance its products' growth has been approved. 327,187 ICP from the BOOM DAO Treasury will be transferred to the developer organisation, aligning with the organisation's vision and dedication to growth.

    • On-Chain Leaderboard Standard is released.

  • MODCLUB: launched a new reputation system, enhancing the quality of moderation services and providing a valuable training platform for novice moderators.

  • SONIC: Sonic experienced a 300% increase in trading volume, reaching 1.03M in trades.

  • IC1101: announced its partnership with @club3xyz the leading web3 community building platform.

  • Rakeoff: The smart contract for the no-loss prize pool has been enhanced, now selecting three winners using a weighted selection algorithm and Motoko Random library for fairness and randomness.

Community Updates

• ICP.Hub Balkan together with TeenHack Ruse 2023, hosted an ideathon at Ruse University, Bulgaria, on 27-28 OCT to explore internet computer possibilities.

• Kushite ICP.Hub joined Africa Metaverse AI Summit 2023.

• ICP Rwanda hosted education events at DTC, Kigali.

• Crewsphere hosted BlockBash Workshop.

• The ICP X SPU conducted four Digital Art on Blockchain workshops, involving 1000 students in class and 500 more online.

• Disruptives ICP.Hub shared tokenomics in their incubator Program.

• Synergylabs presented ICP Blockchain Workshop at University Teknologi Petronas.

Update Coming Events

• IC Related Events

• Oct 19, Ideathon by SynergyLabs, Chaign Mai, Thailand

• Sep 9th - Oct 12th, Web3 Sankalpa Tour

• Oct 22, ICP & AI - Promoting the Future of Intelligent Computing, WuHan, China

• Nov 14, The Future of Digital Assets, NYC, USA

• Nov 15, Web3 Entrepreneurship Night, Zurich, Switzerland

• Dec 13-14, NOAH Conference Zurich 2023, Zurich, Switzerland

• Industry Events

• Oct 20-23, ETH Mexico

• Oct 24 - 26, European Blockchain Convention, Barcelona

• Oct 24 - 25, Blockchain Life 2023, Dubai

• Oct 26 - 27, Indonesia Bitcoin Conference

• Oct 30 -Nov 5, Hong Kong Fintech Week 2023

• Oct 29 - Nov 18, Hong Kong Web3Month

• Nov 16, Wiki Finance Expo Sidney 2023, Sidney, Australia

• Dec 4-5, Next Block Expo, Berlin

General Regulations

• Marinade Finance, Solana's largest decentralized finance protocol, has halted UK users due to regulatory compliance concerns over the Financial Conduct Authority.

• US Senator Cynthia Lummis and Rep. French Hill have called on the Department of Justice to swiftly conclude investigations into potential aid to Hamas through Binance and Tether, despite the inaccurate reporting of funding levels in a Wall Street Journal article.

• PayPal has registered with the UK Financial Conduct Authority as a crypto service provider, allowing it to engage in certain cryptoasset activities.

Industry News

• Mastercard and MoonPay are collaborating to explore how blockchain-based Web3 can enhance consumer loyalty and connection at the Money20/20 event in Las Vegas.

• JPMorgan handles $1 billion worth of transactions daily using its digital token, JPM Coin, which enables global blockchain-based wholesale payments between institutional clients, with plans to expand usage.

• Thailand's Kasikorn Bank has acquired 97% shares in Satang crypto exchange's parent company, with a valuation of 3.705 billion Thai baht ($102.8 million), through a new subsidiary called Unita Capital.

• Circle Internet Financial is phasing out support for legacy consumer accounts, affecting individual accounts to mint stablecoins, not business or institutional Circle Mint accounts.

• Swiss cantonal bank SGKB is partnering with SEBA Bank to offer cryptocurrency trading services, extending Switzerland's digital asset adoption beyond wealthy clients to retail consumers, promoting digital asset adoption.

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