Hey there fellow crypto degens,
We curate the best educational resources in crypto. Here’s a digest of the top content from The Crypto Illuminati this week.
Meme of the week:
Got your cup of coffee ready? Alright, let's jump right in ☕
1️⃣ zkSync: Making Ethereum Transactions Great Again
This article provides an overview of zkSync, a Layer-2 scaling solution for Ethereum, and its advantages, such as near-instant transaction confirmations and low gas fees.
Key takeaways:
1. zkSync is a Layer-2 scaling solution for Ethereum that uses zero-knowledge proofs to achieve fast, secure, and low-cost transactions.
2. The project has nearly raised a record-breaking sum of $458M in funding from Tier 1 VCs.
3. It is committed to decentralization and is offering an airdrop opportunity to earn $ZKS tokens.
Counter arguments:
1. zkSync is still in its early stages and may not be suitable for all users.
2. It is not compatible with all Ethereum infrastructure, so users may need to make changes to use it.
Keep reading 🍿
2️⃣ DeFi Security: Preventing Rugs and Hacks
This article discusses two DeFi safety tools, RugDoc and DeFiSafety, which can help crypto users assess the risks of different blockchain protocols and projects.
Key takeaways:
1. RugDoc is a search engine that allows users to filter and browse through different blockchain protocols and analyze their risks.
2. DeFiSafety is a rating system for DeFi protocols that covers 17 chains with over 260+ protocol reviews.
3. Both tools provide security incident reports and risk assessments that can help users save time and adapt their risk management strategies.
4. Crypto regulation is still unclear, which allows rugs and hacks to occur without much repercussion.
5. North Korean hacking cybercrime group Lazarus is reportedly state-owned and trying to facilitate large-scale hacks.
Keep reading 🍿:
3️⃣ Don't Get Played: Game Theory in Crypto
This article discusses the use of game theory to understand the dynamics of cryptocurrency markets, with a focus on the recent Arbitrum governance drama.
Key takeaways:
1. Retail investors and insiders/large airdrop farmers have different perspectives on the market.
2. Decentralization can be a lie, as seen in the Arbitrum governance case.
3. It is important to be aware of game dynamics and be cautious when investing.
On the flip side:
1. Not all actors are looking to cheat the system.
2. The market is maturing, and rules are becoming fairer.
Keep reading 🍿:
4️⃣ SEC's Crypto Crackdown: Charges Everywhere!
This article provides a summary of the recent charges brought by the SEC against various crypto-related companies and individuals.
Key takeaways:
1. The SEC has charged several crypto projects and founders for violating securities laws.
2. Celebrities have been charged for failing to disclose cash received for promoting crypto assets.
3. Crypto projects and founders must be careful to comply with securities laws to avoid charges and penalties.
Counter arguments:
1. Justin Sun has been under investigation for some time, but the SEC has not been able to prove any wrongdoing.
2. Coinbase is confident in the legality of its digital assets and is ready to challenge the SEC.
Keep reading 🍿:
Have you ever used a DeFi safety tool? |