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Sui, a Layer 1 blockchain, brings high-speed transactions, instant processing, and scalability to the crypto space. Its native programming language, Move, simplifies smart contract development for DeFi. Despite potential benefits, concerns arise over long-term sustainability, transaction costs, and wealth distribution among participants.

Polygon unveils its upcoming project, Polygon 2.0, focusing on development and deployment outside the US amid a tough regulatory environment. With the aim to attract the global community’s attention, Polygon 2.0 will be a network of ZK-powered L2 chains, emphasizing community-driven decisions and facing challenges from US regulatory crackdowns on digital assets.

In a recent House Energy and Commerce Committee Subcommittee meeting, Polygon Labs’ Ryan Wyatt discussed the potential of blockchain technology in creating a decentralized, transparent Web3, benefiting users and driving economic growth. He emphasized the need for a well-regulated blockchain ecosystem in the US to maintain competitiveness and ensure domestic technology industry thrives.

Cumberland Labs’ incubator arm has unveiled a beta version of expand.network, a universal API tool designed to simplify connections to blockchain and DeFi protocols. This service offers both read and write connectivity across major public blockchains, enhancing efficiency and user-friendliness in cross-chain communication and DeFi landscape navigation.

Sui Network backed by Mysten Labs, recently announced a partnership with Red Bull Formula One Racing Team as their official blockchain partner. This collaboration aims to demonstrate web3’s potential in connecting audiences and enhancing fan experiences, while navigating the ever-changing landscape of crypto-related partnerships within the sports industry.

This week in crypto, Ledger introduced a wallet recovery service, ETH staking demand soared, Tether invested in Bitcoin, and Samsung partnered with the Bank of Korea for CBDC research. Additionally, Ripple acquired Metaco, and a Uniswap survey highlighted the need for DeFi simplification.

The Web3 ecosystem relies on wallets for user identity verification and transaction authorization. Wallet infrastructures like Magic, Dfns, and Web3Auth aim to provide both security and convenience by exploring seedless wallets, multiparty computation (MPC), and Hardware Security Modules (HSM).

Railgun DAO partners with Chainway to incorporate a “proof of innocence” feature, addressing AML and sanctions compliance concerns without compromising user privacy. The feature enables users to mathematically demonstrate their funds’ legality and verify blacklisted addresses while maintaining anonymity.

Injective, a layer-1 blockchain, has integrated Pyth onto its mainnet, enabling decentralized applications (dApps) to access on-chain data for hundreds of markets, such as equities, commodities, and cryptocurrencies. Injective’s Pyth integration highlights the growing synergy between traditional finance and decentralized markets, possibly fostering a new era of cross-chain data composability and impacting the DeFi space.

Sui, a Layer-1 blockchain developed by Mysten Labs, has launched its mainnet, offering advanced technology with high-performance, sub-second finality, and rich on-chain assets. The platform promises scalability and accommodates numerous applications at low costs, using a Delegated Proof-of-Stake consensus mechanism. With over 200 decentralized applications prepared for deployment, Sui’s native token is already listed on prominent exchanges.

The Sui Network’s mainnet launch, supported by major cryptocurrency exchanges like Binance and Huobi, marks a milestone for the Layer 1 blockchain striving to enhance Web3 adoption. Despite potential concerns over network security and centralization, Sui’s innovative delegated Proof-of-Stake system, substantial funding, and backing from Mysten Labs have garnered significant interest from investors and the crypto community.

Crypto.com introduces “Amy,” an AI companion providing users with real-time token prices, project updates, and industry insights. As the crypto community becomes increasingly intertwined with AI, leveraging this technology promises improved user experience, better decision-making, and enhanced efficiency, while also addressing potential risks and challenges.