Welcome again to Chain Response.
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Final week we didn’t publish a Chain Response e-newsletter, because of Thanksgiving. However we’re again at it this week and saying goodbye to November after an extended, eventful month full of lawsuits, value modifications and the standard crypto chaos.
Let’s get into it.
What’s taking place 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 newest pod
Optimism is an Ethereum-focused layer-2 blockchain that focuses on scaling and velocity, whereas additionally decreasing prices for customers. It helps customers work together with Ethereum for about 10x cheaper by way of its blockchain and supplies builders the power to construct decentralized purposes (dApps) in a sooner, scalable method.
Earlier than taking over this new position at Optimism, Ryan had a little bit little bit of a break, however was the president of Polygon Labs (he came on the podcast firstly 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 tasks at firms like Zcash and Nasdaq.
We mentioned how layer-2 blockchains like Optimism are attempting to resolve 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 firms higher handle their payments
- Web3 training platform Open Campus received a $3.15 million funding from Binance Labs
- Wind.app raised over $3 million to make DeFi accessible to common shoppers
- Decentralized perpetual alternate MYX raised $5 million in a seed spherical at $50 million valuation
- Blockchain-built health and wellness app Coral received a $3 million funding from TealLink
This record was compiled with info from Messari in addition to TechCrunch’s personal reporting.
What else we’re writing
Wish to department out from the world of web3? Listed here 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.