AlexandraWe are welcoming you to our weekly digest! Here, we discuss the latest trends and advancements in account abstraction, chain abstraction and everything related, as well as bring some insights from Etherspot’s kitchen.
The latest news we’ll cover:
- Pulse: Pioneering the Transition to Web3 Social Media
- Ethereum Rollups: Top 10 L2s Ranked
- Binance Labs Backs Sophon to Revolutionize Entertainment
- Candide AbstractionKit v0.2.0 Update
Please fasten your belts!
Pulse: Pioneering the Transition to Web3 Social Media
The SocialFi startup, Pulse, aims to redefine the social media landscape by transitioning from Web2 to Web3, promising decentralized governance and fairer profit distribution.
Abel Sohajda, Head of Pulse, highlights the urgent need for decentralized platforms, noting that Web2 governance models lead to problems like centralized control and unfair treatment of users, as seen with the suspension of crypto projects on traditional platforms.
Pulse leverages the benefits of Web3, including true content ownership, resilient networks, and interoperable identities, all underpinned by Ethereum’s Layer 2. With technologies like account abstraction, token-gated groups, and decentralized content moderation, Pulse offers a community-centric model that fosters innovation and security.
The platform’s rapid growth, with over 130,000 active users in three months, exemplifies the growing demand for decentralized social media. Looking ahead, Pulse plans to introduce features like verified decentralized data storage and a token airdrop with the launch of its mainnet by year’s end.
With an eye on the future, Pulse is positioning itself as a leader in Web3 SocialFi, blending social interaction and decentralized finance to create a more engaging, user-controlled social experience.
Ethereum Rollups: Top 10 L2s Ranked
As Ethereum continues to scale, Layer 2 rollups have become essential in optimizing the blockchain.
Rollups work by bundling transactions off-chain and later posting them on Ethereum’s mainnet. This method enhances scalability and reduces gas fees, allowing Ethereum to handle more users and applications without overloading the network.
Leading the pack is Arbitrum, an Optimistic rollup with over $14 billion in Total Value Locked (TVL). Base, launched by Coinbase, has rapidly climbed the ranks without a native token. Meanwhile, Starknet is making strides with its zero-knowledge rollup and native account abstraction.
While Optimistic rollups currently dominate the market, ZK rollups are gaining momentum, particularly with ZKSync Era and Scroll launching innovative features.
The future of Ethereum scaling may lie in a combination of both technologies, as rollups help the network expand without compromising decentralization.
For a detailed overview of the top Ethereum rollups check out the full article here.
Binance Labs Backs Sophon to Revolutionize Entertainment
Binance Labs has announced its investment in Sophon, an innovative platform focused on entertainment, gaming, social, and AI applications. Earlier this year, Sophon successfully raised $60 million through a node sale.
Sophon aims to reshape how users “live, play, create, and connect” by leveraging ZK Stack and native account abstraction for a gasless, seamless user experience. The zkSync codebase, widely regarded as one of the most robust zkEVMs, powers the platform, offering superior throughput and cost-efficiency across Ethereum’s L2 ecosystem.
With the fresh funding from Binance Labs, Sophon is set to accelerate ecosystem growth, attract top-tier talent, and support projects that integrate entertainment, creativity, and technology. Chang, investment director at Binance Labs, praised Sophon’s “strong industry partnerships and early success,” emphasizing their potential to redefine the entertainment, gaming, and AI sectors.
Sophon’s co-founder, Seb, expressed excitement over the partnership, highlighting the platform’s vision of making technology more accessible for users and equipping developers with cutting-edge tools.
Candide AbstractionKit v0.2.0 Update
Candide has officially launched AbstractionKit v0.2.0, a major update to its powerful TypeScript library designed for building Smart Wallets.
This release aligns with the latest Account Abstraction standards, introducing support for EntryPoint v0.7 and offering users new tools like Safe Passkeys and robust Account Recovery.
The upgraded AbstractionKit delivers greater flexibility while maintaining backward compatibility for core functionalities. It also enhances gas sponsorship options, allowing gas payments in ERC-20 tokens or full sponsorship mode.
Developers are welcome to explore the documentation.
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