Decentral Block Post

Zero-knowledge (ZK)-Rollup tech company StarkWare has officially open sourced its new programming language compiler, Cairo 1.0, which will soon be supported on Ethereum layer-2 scaling solution StarkNet in Q1 2023. 

The news was announced by StarkWare — the company behind StarkNet — in a Nov. 25 Twitter post. StarkWare’s rollup technology and recursive proofs offer the potential to compress millions of transactions on L2 into a single transaction on Ethereum, however the project has been criticized for maintaining control over its IP, not least of all by its more open source focused competitor zkSync.

StarkWare described open sourcing Cairo as a “milestone move” in its quest to hand over more control and intellectual property rights to its community and developers. Cairo is a programming language written specifically to harness the power of zk rollups and validity proofs.

StarkWare stated that developers can now experiment with Cairo 1.0 by compiling and executing simple applications until it is fully supported on StarkNet in Q1 2023.

At that point Cairo 1.0 will enable faster feature development and allow for more community involvement, according to Starkware Exploration Lead and former Ethereum core developer Abdelhamid Bakhta.

South Korea’s largest crypto exchanges have announced they will delist WEMIX (WEMIX) — the native token of gaming company Wemade’s blockchain platform Wemix — alleging the firm provided “false information” in response to an investment warning it was issued.

Bithumb, Upbeat, Coinone, Korbit and Gopax — which are part of a collective called the Digital Asset eXchange Alliance (DAXA) — announced on Nov. 24 that they would terminate contract support for WEMIX, with trading set to end on Dec. 8.

In the investment warning issued Oct. 27, DAXA alleged that there was considerably more WEMIX in circulation than Wemix had disclosed, and Wemix had pledged to work with DAXA to alleviate these concerns.

After news of the decision to delist broke, WEMIX Communication released a statement claiming it had sincerely responded to requests and concerns raised by DAXA and corrected a number of issues where they believe the circulating supply had been overstated the group, adding:

“The WEMIX team does not acknowledge or agree with the unreasonable decision made by the Digital Asset eXchange Alliance (DAXA)... It is crucial to note that the Foundation has not circulated a single WEMIX more than what we have officially disclosed thus far.”

No matter if one analyzes Ether’s (ETH) longer-term or weekly time frame, there is little hope for bulls. Besides the negative 69% year-to-date performance, a descending channel has been pressuring the ETH price while offering resistance at $1,200.

Regulatory uncertainty continues to weigh down the sector. For example, Starling, a digital bank based in the United Kingdom, announced on Nov. 22 that it would no longer allow customers to send or receive money from digital asset exchanges or merchants. The bank described cryptocurrencies as “high risk and heavily used for criminal purposes.”

Other concerning news for the Ethereum ecosystem involved the decentralized finance (DeFi) platform Aave, which suffered a short-seller attack on Nov. 22 aimed to profit from under-collateralized loans.

Curiously, a similar exploit happened on the Mango Markets DeFi application in October. Albeit not a direct attack on the Ethereum network, the attacker has shown critical flaws in some major decentralized collateral lending applications.

Furthermore, the Singapore-based cryptocurrency lender Hodlnaut is reportedly facing a police probe over allegations of cheating and fraud. The issues started on Aug. 8 after the lending firm cited a liquidity crisis and suspended withdrawals on the platform.