Sup, nerds!

Here’s what you’re getting in today’s edition:

• 💅 This is cool: One-click sign up (for literally anything online)

• 🔎 This seems important: This too shall pass…

• 🤝 Partner: A Vitalik Throwback Tee? Sure, why not!

• 🔪 Let's dissect this: Improvements to solana following the ‘kiss of death’

Terms used in this edition (click for an explanation, or ask Web(GPT)3!):
Zk-proofs, bull run, meme coin.

💅 This is cool:

One-Click Sign up (For Literally Anything Online)

In one sentence: Galxe Identity Protocol is paving the way for privacy preserving ‘one-click sign up’ processes across all web platforms (from banks, to social platforms, and beyond).

We’ve talked about zk-proofs in the context of financial transactions a BUNCH of late…

Zk-proofs are the ‘friend in common’ of the crypto world.

What does that mean?

Say you’re looking for a new roommate → you post on a local Facebook group → someone replies…

Your first move? Check to see if you have any friends in common that you can use to vet your new potential co-habitant.

You can ask your ‘friend in common’ — “Hey, is this person going to try and murder me in my sleep? (Cause I can’t have that happening…not again).”

And your friend in common can give a binary yes/no answer.

Zk-proofs let platforms ask financially relevant questions like “Is this person over X age? Do they have good credit?” — getting yes/no answers in return (while keeping the user’s exact D.O.B. and credit score private).

…which is cool and all — but what if this tech grew beyond the crypto-financial niche?

Looks like we’re about to find out thanks to the Galxe Identity Protocol, which aims to make zk-proofs a standard across the broader web.

Here’s why that’s relevant to you:

This could turn every sign up page into a one-click experience.

Whether its for a new bank account (where you’re required to provide photo I.D, a social security number, D.O.B, and home address), or social platform (where you’re typically prompted for a full name, email, and D.O.B.)…

Zk-proofs would allow you to provide it all in a one-time verification process, and from there on out just ‘click to verify’ (while preserving your privacy) any time you sign up for something online.

Oh, and added bonus: it’d pretty much mean the end of common identity theft.

Godspeed Galxe.

🥇 Want the news before anyone else?

🔎 This seems important:

This Too Shall Pass…

In one sentence: The markets are rough right now, but positive forward movement continues, like the BTC and ETH ETFs that just launched on the Hong Kong stock exchange!

If the current bull run were a movie, we’d be at that point in the story where it feels like all hope is lost.

(The protagonist has failed on their mission/journey, and the storyline is wrapping itself up in a sad little bow).

…but then you look down at your watch, only to notice that you’re only 60 mins into a 120 min run time.

(And in doing the math, you realize there’s bound to be a come-back written into the third act).

Cause, yeah:

Market prices remain in the toilet…recoveries have been attempted only to fail…the distant murmurs of potential war feel as though they’re turning into shouts…

(It’s scary!).

…so what’s crypto’s “third act come-back” going to be made up of?

Probably a bunch of things, like:

1. The Bitcoin and Ethereum ETFs that just launched on the Hong Kong stock exchange.
   
   (Making it WAY easier for investor dollars from the asian market to find their way into BTC and ETH)
    

2. The imminent supply shock coming to Bitcoin via the halving, when the flow of new BTC hitting the market each day is cut in half.
    

3. (As things begin to recover) a continued boom in meme coin buying on Solana and Base.
    

4. Pressure from the courts, slowly forcing the hand of the SEC to allow more crypto ETFs to be launched in the US.
    

5. The US Bitcoin ETFs moving back into large daily net inflows (vs. the current pattern of net outflows).

Brb, whispering these points into a voice note and meditating on them…

🤝 Partner:

A Vitalik Throwback Tee? Sure, why not!

Wow, so turns out the way to your hearts is through deeply unserious merch?

In that case, we see your love for the Got That Dog In Me Tee, and raise you a Vitalik Throwback Tee…

🔪 Let's dissect this:

Improvements to Solana Following The ‘Kiss of Death’

In one sentence: Solana has recently suffered from the ‘kiss of death’ which is when there is so much demand the system can’t handle it and it breaks (at least, temporarily).

Ahhhh, the ‘kiss of death.’

The simple idea that something is so popular, it breaks.

(Typically seen during Black Friday sales, or when Kate Middleton wears a new outfit).

In Solana’s case, it’s been the popularity of meme coins on the Solana chain that have resulted in a huge spike in transactions over the past few weeks.

So many transactions, that some of them have recently started to fail (coinciding with a drop in the value of SOL, and a loss of trust in the chain).

The good news is that the Solana dev team called ‘Anza’ announced overnight that an initial fix for the congestion issues had been released.

On one hand, it was great that they were able to move quickly and deploy at least half a fix.

Then again, with relatively new blockchain solutions like Base entering the space and doing a great job to support a ton of memecoin traffic, Solana will need to keep up to maintain it’s dominance.

As Anza works to build more solutions to Solana’s network congestion issues, the BTC halving clock continues to tick.

Let’s hope they’re ready for more transaction volume when the bull bounces back.

(Otherwise they may just find people go elsewhere)!

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SOL Explained