Keywords: #AI #DWF Labs #zkSync

1. Amazon joins the generative artificial intelligence competition, targeting cloud customers. Comment: Amazon has a strong advantage in the cloud computing field, integrating generative AI into cloud services can further expand its influence.

2. EOS Network receives $60 million investment from DWF Labs. Comment: DWF Labs has been unusually active in recent investments, and there may be some verbal investment situations, so caution and discrimination are needed.

3. Twitter partners with eToro to allow users to trade stocks and cryptocurrencies, as Musk pushes the application towards the financial sector. Comment: Integrating these features is the established route for Twitter 2.0. The next step will be to open up payment and tipping functions. It is worth paying attention to the Twitter 2.0 roadmap.

4. The SyncDex Finance project in the zkSync ecosystem experienced a rug pull, and all staking contracts were emptied. Social media was also deleted, and users lost over $288,000 . Comment: Influenced by the hype brought by Arb, a lot of fast money flooded into zkSync for speculation. Be cautious about projects that are easily packaged and launched.

5. Uniswap announces the launch of Uniswap Wallet on the Apple Store, claiming it can be used in most countries and regions. Comment: The wallet war is an important point in the next few years, with major exchanges and VCs launching their own wallets. This is a major entry point for future traffic.

BitVenus Research Institute The BitVenus Research Institute is a massive content pool focusing on aggregating blockchain knowledge, industry dynamics, platform information, in-depth industry science popularization insights, and other high-quality content for people to quickly get started with Crypto and learn about the latest industry trends.

01.The Origin and Evolution of the Ethereum Shanghai Upgrade

Since its launch in 2015, the Ethereum blockchain has implemented several major upgrades, including Byzantium (2017), Constantinople (2019), Petersburg (2019), Istanbul (2019), Berlin (2021), and London (2021). The so-called Ethereum Shanghai upgrade (EIP-4895) is the name given to a version of Ethereum's technical upgrade in development and updates.

In September 2022, Ethereum successfully completed its transition to the Proof-of-Stake (PoS) consensus mechanism. Before this, Ethereum used Proof-of-Work (PoW) and mining mechanisms to process and verify transactions. After transitioning to the PoS consensus mechanism, specialized mining equipment is no longer required to solve computational problems, but users need to stake 32 Ether (ETH) to become a validator node of Ethereum.

Due to the merge, which combines the Ethereum mainnet with the PoS Beacon Chain, users can not withdraw staked Ether (ETH) or related token rewards at any time in the current technical mechanism of Ethereum.

In October 2022, in preparation for the Ethereum Shanghai upgrade, Ethereum developers launched a test network with the codename "Shandong" to find errors and potential issues. In December, Ethereum developers tentatively scheduled the implementation of the Shanghai upgrade on the Ethereum mainnet in March 2023. On January 5th, 2023, Ethereum developers agreed to launch this upgrade in March 2023, implementing it as a network hard fork. Users will be able to test this update through the Shanghai-implemented public test network by the end of February 2023.

However, due to technical progress, the Ethereum Shanghai upgrade (EIP-4895) will be delayed until April.

02.What is the market impact of the Ethereum Shanghai upgrade?

Once upgraded, ETH stakers will be able to withdraw their staked funds as validators. Following Ethereum's implementation of proof of stake, users can stake 32 ETH to become network validators, but these funds are locked indefinitely. This upgrade may affect the proportion of staked ETH in its total supply, which in turn may affect the market supply and demand for ETH.

The exact impact of the Ethereum Shanghai upgrade will depend on the actual situation of the users. If users have directly used Ethereum or staked ETH through staking products, they will be able to withdraw their funds after this upgrade is completed. Please note that not everyone directly stakes 32 ETH, and many users stake smaller amounts on liquidity staking platforms.

For traders, a big issue is that this upgrade may have an impact on the price of ETH. After this upgrade is completed, users will be able to withdraw their funds, thus unlocking a large amount of liquidity, and staked ETH owners will have the right to extract and sell their staked assets. For many traders and investors, monitoring the proportion of staked ETH in the total supply will be necessary.

On the other hand, because the liquidity of staked ETH has been improved, it may be more attractive to users. Those who were originally unwilling to use liquidity staking protocols will now have the opportunity to directly stake ETH on Ethereum.

Improvements in staking conditions may trigger an increase in demand for ETH.

For users holding native tokens of liquidity staking platforms, the price of their tokens may also be affected. This is because the opening of Ethereum's withdrawal function cancels the unique functionality provided by ETH liquidity staking.

It should be noted that the start of ETH staking was in November 2020, when the price of ETH was between $500 and $600. These long-term staked users are likely to be eager to withdraw their ETH and rewards. Staking since February 2021 is currently unprofitable compared to current prices. Most withdrawal requests will be "partial withdrawals." It is expected that after the opening of withdrawals, the selling pressure on ETH will not be too severe, mainly due to the selling behavior of early players.

Overall, allowing the withdrawal of staked ETH increases the market freedom of ETH, and ETH holders may respond to staking demand and supply to achieve market balance. This reduces the artificial control effects on ETH prices and circulation and should be seen as a positive impact.

If you want to invest in Ethereum, you can go to BitVenus to buy and participate in the official guessing activity to get rich Ethereum rewards for free!

03.Why is the Ethereum Shanghai upgrade so important?

The hype around the Ethereum Shanghai upgrade is higher than before, so what changes will this upgrade bring to the entire Ethereum ecosystem?

• Gas fees reduction:

One of the expected impacts of the Shanghai upgrade is to lower the gas fees related to Layer-2 solutions running on Ethereum, such as Polygon and Optimism.

These Layer-2 solutions have made Ethereum faster and cheaper to some extent, and the Shanghai upgrade will further optimize the gas fees for transactions on Ethereum.

• Beacon chain opening for staking withdrawal:

Before the Ethereum merge, anyone interested in becoming a validator in the ETH2.0 beacon chain must stake a certain amount of ETH into a smart contract, which will remain locked even after the merge. However, with the Shanghai upgrade, the staking lock will be released, and ETH stakers can gradually withdraw their ETH according to certain rules from the beacon chain.

• Smart contract infrastructure update:

This is another important update expected in the Shanghai upgrade. Ethereum is the largest blockchain network that supports smart contracts, and the Shanghai upgrade will introduce EIP 3540, also known as the EVM object format.

The core of this EIP is to separate code from data, which can be extremely beneficial for validators on the ETH network. In addition to separating code and data, EIP 3540 also introduces a new contract code section to help optimize processing and solve complex functional modules, such as account abstraction and control flow in EVM.

Furthermore, the Shanghai upgrade will also improve the security of the Ethereum network, introduce new anti-attack techniques, such as redemption contract anti-attack technology, and simplify the contract code of the Ethereum network. Additionally, the Shanghai upgrade will expand Ethereum's programming language, supporting more programming languages such as Solidity, Vyper, Bamboo, etc. This is good news for developers and users because it eliminates the dependence on a single programming language, expanding the developer's choice.

Conclusion: The Ethereum Shanghai upgrade is coming, and it will undoubtedly be an important moment for the development of the Ethereum blockchain. The upgrade is named after the Chinese city of Shanghai, which reflects Shanghai's early roots and role in the development of Ethereum. The main goal of the Ethereum Shanghai upgrade is to allow staked Ether in the Ethereum beacon chain to be withdrawn, providing stakers with the option to unlock and withdraw their funds. The Ethereum Shanghai upgrade is another big step in improving the scalability and decentralization of the Ethereum blockchain, and is expected to be a significant event in the development history of Ethereum.

Keywords: #Space ID #ChatGPT #ARB

1.Space ID snapshot time has been changed to 10 p.m. on March 10th, and approximately 7.6 million ID tokens will be additionally rewarded to eligible users.

Comment: Insider trading is unacceptable, and treating the community as fools is not advisable. We should listen more to the opinions of the community.

2.Coinbase compared the risk scores of 20 smart contracts between ChatGPT and manual security review. ChatGPT produced the same result as manual review 12 times.

Comment: There were still eight incorrect scores. A single mistake in security review can have serious consequences, and there is still room for improvement.

3.Binance announced that it will list the ARB spot trading pairs: ARB/BTC and ARB/USDT. The ARB deposit channel will be opened at Ethereum block height 16890400, expected to be on March 23, 2023, at 8:30 p.m. (GMT+8).

Comment: As one of the four L2 giants, it is only reasonable for ARB to receive such treatment.

4.Gala announces a lawsuit on behalf of pGala victims seeking compensation of over 27 million US dollars from pNetwork.

Comment: In fact, more people should have considered having Gala represent them to sue Justin Sun.

5.Elon Musk: The Federal Reserve needs to lower interest rates by at least 50 basis points this week.

Comment: We should pay attention to this week's decision meeting and see if the Federal Reserve will change its attitude and slow down the interest rate hike.

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Keywords: #UBS #Binance #BNB

1.UBS has officially announced the acquisition of Credit Suisse, and the Swiss National Bank will provide up to 100 billion Swiss francs in loan assistance to Credit Suisse.

Comment: The global economic situation has not yet improved, and bank loan assistance is a last resort.

2.SPACE ID has released the airdrop rules and will be open for collection on March 22nd.

Comment: There were already 286 million in circulation on the first day of launch, and the airdrop is limited in scope.

3.Binance has optimized the Launchpad product's BNB holding statistics logic, and will take multiple snapshots at random times.

Comment: The strategy of buying BNB before Launchpad and waiting for the snapshot may no longer exist, which is beneficial to the stability of BNB.

4.Buffett and the Biden administration discussed the banking crisis.

Comment: Given the current market situation and the Federal Reserve's reluctance to turn, bank failures may still occur.

5.Microsoft Edge browser is testing an integrated encrypted wallet.

Comment: Microsoft has been active this year, with involvement in various fields from AI to Web3.0, indicating that the tech giant's vision is still sharp.

BitVenus Research Institute:

The BitVenus Research Institute is a massive content pool focusing on aggregating blockchain knowledge, industry dynamics, platform information, in-depth industry science popularization insights, and other high-quality content for people to quickly get started with Crypto and learn about the latest industry trends.

In this article, I will compare and analyze the top 4 most popular cryptocurrency exchanges in the world in 2023 to help readers better understand and choose a cryptocurrency exchange that is more suitable for them.

1. Coinbase

Coinbase is an exchange headquartered in the United States, founded in 2012. It is one of the most well-known and popular exchanges in the cryptocurrency market, with over 43 million users and services in over 40 countries. Coinbase offers trading in digital currencies such as BTC, ETH, BCH, and LTC.

Advantages: Coinbase enjoys a good reputation and a high level of security and credibility in the entire cryptocurrency industry. It also provides a user-friendly interface that is convenient for both beginners and experienced traders.

Disadvantages: relatively high fees and more restrictions.

2. Binance

Binance is an exchange headquartered in Malta, founded in 2017. It is one of the largest cryptocurrency exchanges in the world, processing billions of dollars in daily trades. Binance offers trading in over 200 digital currencies, including BTC, ETH, BNB, XRP, USDT, and more.

Advantages: high liquidity and trading volume, low fees, and different trading pairs. Binance is also a very secure and stable exchange, providing multiple trading tools and APIs.

Disadvantages: lack of transparency due to unclear legal status and actual operating location. Due to its reputation and size, it can sometimes become a target for attackers.

3. Kraken

Kraken is an exchange headquartered in the United States, founded in 2011. It is one of the oldest exchanges in the cryptocurrency market, with over 7 million users and services in 190 countries. Kraken offers trading in over 70 digital currencies, including BTC, ETH, XRP, LTC, and more.

Advantages: very secure and transparent, with a good reputation. Kraken offers low fees and fast transaction speeds. It also provides multiple order types and trading tools, as well as a highly customizable interface.

Disadvantages: less user-friendly trading experience, with a certain learning curve. The platform may encounter some issues during peak periods, leading to delayed or failed transactions.

4. BitVeuns

BitVeuns is an exchange headquartered in the British Virgin Islands, founded in 2018. It provides users with diversified cryptocurrency financial derivative trading, 24/7 high-quality service, and user education. It has a professional team with rich experience in the financial industry and blockchain technology and operates in a safe and compliant manner, obtaining MSB digital licenses in the United States and Canada.

Advantages: has mature risk control experience and smooth user experience, with relatively high trading depth. The easy-to-use operation experience is more suitable for newcomers to the cryptocurrency market, with relatively low fees and more platform rewards.

Disadvantages: relatively low platform popularity, with limited product services, currently only offering spot and contract mainstream financial derivative services.

Conclusion: Currently, exchanges are an indispensable part of the blockchain ecosystem. They are the market for digital assets and the place where investors and traders exchange cryptocurrencies.

When choosing an exchange, investors and traders should consider the security, credibility, fees, and user-friendliness of the platform, as well as its available digital currencies, trading pairs, and trading tools.

On March 2nd, Silvergate announced that it would delay submitting and explaining its annual financial report and stated that it would still need two weeks to complete its fiscal year report for 2022. Coincidentally, in a forward-looking statement, Silvergate warned that it may face inquiries from banking regulators and the US Department of Justice, and that its ability to continue operating may be affected in the next year.

The news caused a ripple effect, with Silvergate's stock price falling over 30% in after-hours trading. Even worse, on Thursday, Silvergate's stock price fell to $2.84, a drop of 42.16%, and its current market value is only $89.91 million. This news triggered a chain reaction, causing the entire cryptocurrency market to plummet, with Bitcoin falling below $20,000 and a 24-hour drop of 7%.

Although Silvergate Bank announced that it would orderly wind down its operations and voluntarily liquidate according to applicable regulatory procedures, including fully repaying all deposits, it is clear that its liquidation has undoubtedly caused many partners to lose confidence in it. Companies that have had intersections with Silvergate have issued statements distancing themselves from it.

Coinbase tweeted: "We are sorry to see Silvergate make the difficult decision to wind down its operations. Coinbase has no customers or corporate cash on Silvergate. Customer funds remain safe, accessible, and available."

Paxos, which has almost no risk exposure to Silvergate, has stopped using the SEN network.

MicroStrategy, the largest Bitcoin holder, said that if Silvergate faces bankruptcy, its Bitcoin loan with Silvergate will not be due until the first quarter of 2025 and will not be repaid early.

Cryptocurrency broker Paxos said it will abandon Silvergate and stop SEN transfers and wire transfers to its Silvergate account.

Why did Silvergate become a hot property in the cryptocurrency industry after transitioning from a traditional small bank? This has to do with the history of Silvergate.

Silvergate is a member bank of the Federal Reserve located in California, USA, founded in 1988.

Initially, Silvergate's founders Dennis Frank and Derek Eisele were in the real estate business. Between 1988 and 2013, Silvergate's main business was providing commercial loans and real estate loans and mortgages to local community residents. At its peak, this small lending bank had assets of only $1 billion.

In 2013, Bitcoin entered the bull market for the first time and surpassed the $1,000 mark. This small lending bank, which was seeking a comprehensive transformation, keenly smelled the opportunity and decided to enter the cryptocurrency market.

In 2014, Silvergate welcomed its first cryptocurrency client: SecondMarket, which later became the well-known cryptocurrency broker Genesis Trading.

In the following years, Silvergate became increasingly focused on the cryptocurrency market, not only selling its commercial banking team, but also streamlining its real estate department.

In 2017, Silvergate launched the Silvergate Exchange Network (SEN), which allows cryptocurrency investors to transfer US dollars from bank accounts to cryptocurrency exchanges 24/7. This is a proprietary and almost instantaneous payment network provided to participants in the digital currency industry, which played an important role in Silvergate's leadership position and growth strategy.

By 2019, Silvergate had become the largest cryptocurrency bank in the United States, with 1,600 of the world's top cryptocurrency miners, exchanges, and custody platforms depositing and transferring billions of dollars every month. At the end of the year, Silvergate went public on the New York Stock Exchange, and just 10 months later, its stock price soared to over $200 per share from $12 per share.

Then, Silvergate management began to explore higher-risk cryptocurrency services, including launching cryptocurrency lending services and experimenting with stablecoins.

In August 2019, Silvergate launched its cryptocurrency lending service, providing funding from its own balance sheet. In May 2021, Silvergate became the exclusive issuer of the US dollar stablecoin for the Meta-backed stablecoin project Diem. Unfortunately, after being ordered to stop by US regulators, Diem was declared a failure. However, Silvergate still had its own ideas about stablecoin issuance, so in early 2022, it spent $200 million to acquire Diem and announced plans to fully launch stablecoins in 2022.

As Silvergate drives deeper into the cryptocurrency market, it has almost become one of the only US banks that allows fiat currency to be freely transferred to cryptocurrency exchanges, with clients including Circle, Coinbase, Binance US, and Kraken, among others. In short, major cryptocurrency institutions within the US are all working with Silvergate.

According to Intelligencer, since Silvergate first allowed cryptocurrency companies to deposit US dollars into its federally insured bank, $1 trillion has changed hands on its network. Silvergate's deposits reached a peak of $14 billion at the end of 2021, with about 90% coming from its cryptocurrency clients.

So what sparked the fire that caused the explosion of the Silvergate bomb?

In fact, the entire cryptocurrency banking system has been facing a severe crisis since 2022, but the most fatal impact on Silvergate comes from the collapse of FTX.

Both FTX and Alameda had accounts with Silvergate, and the US Department of Justice subsequently froze their related assets. The collapse of FTX triggered centralized withdrawals on various cryptocurrency trading platforms, and users lost confidence in these platforms and began withdrawing their funds. The cryptocurrency trading platforms then withdrew from their partnership with Silvergate, and Silvergate could only continue to sell its own assets to cope with successive withdrawal demands.

In Q4 2022 alone, Silvergate's cryptocurrency-related deposits plummeted by 68%, and it processed over $8.1 billion in customer withdrawals, causing severe liquidity and solvency crises, and accumulating losses of over $949 million, which wiped out all its profits since 2013. In Q4 2022, it sold discounted bonds worth $5.2 billion and laid off 40% (200) of its employees to save itself.

As of December 31, 2022, Silvergate's total cash and cash equivalents held exceeded $4.6 billion, while customer deposits totaled $3.8 billion, which can generally cover users' withdrawal amounts. However, not all of these assets are readily available, as they are subject to mismatched terms, making it difficult to immediately meet user withdrawal requests. Unlike exchanges, which require full reserves to meet user withdrawal demands at any time, banks have historically operated on a fractional reserve system, which means that large-scale withdrawal demands can cause serious run-on-the-bank crises.

Adding to the problem, US regulatory agencies have long been a "roadblock" standing in front of the cryptocurrency industry. Previously, the Federal Reserve, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation issued a joint statement regarding the liquidity risks associated with the vulnerability of the cryptocurrency market, emphasizing the liquidity risks faced by banking organizations related to certain sources of funds of entities associated with cryptocurrency assets.

Regulators pointed out that the interconnectedness of the cryptocurrency industry exacerbates the risks faced by banks with overexposure.

As of now, Silvergate has yet to disclose its 10-K report, and concerns remain about its solvency. The 10-K report is a mandatory report type required by the SEC, which is usually more in-depth than annual reports and includes detailed financial statements, balance sheets, and cash flow statements. Clearly, under the relentless pressure from US regulators, Silvergate's "amputation self-help" appears to be inadequate.

Currently, the cryptocurrency market is also experiencing turmoil, with significant price fluctuations. However, this means that users can realize short-term arbitrage opportunities. For those investing in spot contracts, buying at a lower price could be a good opportunity. For investment users pursuing high returns, trading perpetual contracts on BitVenus, leveraging, and potentially earning returns of up to 125 times, their investment could be a good option.

In conclusion, overall, Silvergate's business model is overly reliant on the cryptocurrency market, and as a bank with just over 1,000 customers, it is vulnerable to both boom and bust cycles of the industry. Once faced with a cryptocurrency market crisis, it is very easy to enter a death spiral. Will the crypto industry face a new "minefield" at that time?

A new analysis by the International Settlement Bank in November last year showed that Bitcoin (the largest cryptocurrency asset) has fallen by nearly two-thirds from its peak at the end of 2021, and about three-quarters of investors have suffered losses on Bitcoin.

Clearly, strengthening financial regulation and developing global standards is more helpful in solving many problems of cryptocurrency assets.

Based on this, on February 28th, the global blockchain trading platform supervision inquiry platform, WikiBit, held a roundtable discussion on "The Impact of Global Cryptocurrency Regulations on Practitioners and Investors," inviting many well-known trading platforms, media organizations, and industry experts. Bitvenus, as a cryptocurrency trading platform focusing on safety and compliance, was invited to attend this meeting.

Bitvenus representatives believe that cryptocurrency regulation is a key step in realizing industry legalization and providing a secure investment environment. Other participating experts also unanimously agreed that the lack of clear cryptocurrency regulations brings uncertainty to the market, and many investors hesitate to invest due to concerns about the legality of cryptocurrency. Therefore, it is urgent to have clear regulatory guidelines, impose more severe penalties for fraudulent behavior, and have closer cooperation between industry practitioners and regulatory agencies.

Bitvenus's official representative stated that clear regulatory guidelines help to enhance investor confidence and promote the development of the cryptocurrency industry. However, there are challenges in implementing regulations for relatively new and complex industries like cryptocurrency. Industry practitioners should also play an active role in formulating regulations, and the industry should collaborate with regulatory agencies to develop guidelines that protect investors without stifling innovation.

In addition, Bitvenus's official representative also emphasized the issue of bad behavior in the cryptocurrency industry. To prevent fraudulent activities, industry practitioners need to use advanced technologies such as artificial intelligence and machine learning to identify suspicious transactions and behavior. Industry practitioners should also play a more active role in formulating regulations because they have the professional knowledge to help develop guidelines applicable to everyone.

During the meeting, the WikiBit community also raised a question to all CEX representatives: How to protect users' cryptocurrency assets and save funds during transactions?

In response, Bitvenus's official representative suggested enhancing security by using two-factor authentication and creating a strong and unique password for trading accounts. As a global leading trading platform, Bitvenus will continue to provide users with the best and secure cryptocurrency trading services and actively participate in the construction of industry regulation.

In summary, when an industry is regulated, it also means that the industry's development is transitioning from disorderly to orderly. For practitioners or pioneers in the cryptocurrency industry, safe and compliant operation is the core element for standing firm in the long term!

Foreword: As a platform for value exchange, CEX is a battleground for blockchain application ecology, a battleground for military strategists, and an arena for testing products and technical levels. Although, the DeFi frenzy of the last round of "bull market" turned DEX into a "catfish" that stirred up the track of encrypted trading platforms, and the impact on CEX was not small for a while. But time has changed. After two years of rest and strangulation, CEX still occupies the C position of blockchain application ecology, and industry giants led by Binance, OKEX, and Coinbase share the global market share. At the same time, some emerging CEX dark horses are rising strongly, and it seems that they are performing the possibility of "overtaking on the second-line corner".

As we all know, from the emergence of the first exchange in the encrypted world to the present, absolute power overlords such as Mentougou and FTX have been born during this period. There are the short-lived spoilers FCoin, the former "HBO" Big Three, and more scattered in the long history that a small exchange is gradually being forgotten. Seeing him getting up from Zhulou, seeing him entertaining guests, seeing his building collapse. There are too many such scripts in the history of exchanges.

But at the same time, many emerging exchanges have sprung up, absorbing nutrients and thriving in the segmented field of blockchain, either using technology as a spear to seize the user market or using ecology as a shield to stick to existing users. Under the CEX war where a hundred flowers bloom and a hundred schools of thought contend, BitVenus is inclusive, integrating the contradictory style of "technology" and "ecology", showing a magnificent demeanor in the world.

1. Technology is the "spear", breaking through thousands of troops

For trading platforms, product experience and platform security are the indicators to measure their value, and they are also the trump card of whether they can overtake the corner of the Red Sea Circuit. These two points are naturally inseparable from the technical strength of the team. Therefore, for users, an encrypted financial service platform that is safe, compliant, low-threshold, liquid, and flexible to add value is an ideal choice.

Clearly, BitVenus has this.

First of all, from the perspective of functional experience, BitVenus integrates the core advantages of the wallet and trading platform, adopts a comprehensive multiple security protection system to ensure the safe and stable operation of the system, and protects users with multiple wallet encryption technology and hot and cold wallet storage systems. Information security and digital asset security have opened a verification mechanism to ensure the security of customer assets. Moreover, BitVenus has extremely low operating barriers, the login operation is very simple, the product is very smooth, and asset allocation can be conveniently carried out through the platform without professional knowledge.

In order to allow users to enjoy a silky smooth product experience, BitVenus has created the world's top distributed and efficient financial matching system. The matching service not only adopts C++ language and full memory design, intervenes in the epoll network, and is based on the DPOS consensus mechanism, it can achieve 100,000+ matching per second in a single thread. It should be known that matching a single thread and a single currency is 100,000 TPS per second, which means that a single transaction is completed in 20 microseconds. What's more worth mentioning is that the high-concurrency BitVenus can also be tuned to millions of TPS per second according to future needs.

In addition to the ultimate matching system, BitVenus is also updating and iterating in other sectors. Among them, BitVenus's market system, order system, push system, and position system also push the transformation and upgrade of memory into the research and development process. In the future, BitVenus will target: starting from the next market order, matching, to order status, transaction push and position update push, the internal processing time of the entire transaction link is only 0.7 milliseconds.

BitVenus is also quite innovative in terms of improving asset utilization. BitVenus not only provides diversified products and services such as asset allocation, fixed income, and risk hedging, but also transmits market data as quickly as possible, and the whole process is transparent. The fastest communication of data and engine matching results to users means that traders can respond faster, maximize capital utilization, and obtain greater profit margins. And all data is transparent, which means that the exchange cannot "do evil" through pins and other forms.

Secondly, the technical strength of BitVenus is also very amazing. Take the "fuse circuit breaker" and firewall mechanism developed by the team as an example. Compared with the third-party services used by many peers, BitVenus has self-developed the WAF webpage protection system through its own technical team, which will not cause collective service paralysis with other peers due to security problems caused by third-party service providers. In terms of anti-money laundering, anti-fraud and other risks, a bank-level risk control and monitoring system has been established to fundamentally protect users' digital assets.

In addition, the BitVenus technical team also referred to Optimistic Rollup's Layer 2 technical solution and made improvements on this basis. Whether it is Optimism or the Arbitrum solution itself, only a limited number of single virtual machine VMs are supported. The underlying architecture of BitVenus supports multiple virtual machines in parallel to support the simultaneous operation of different decentralized nodes and avoid potential throughput bottlenecks, which can further increase the degree of decentralization, avoid single-point losses and be controlled by centralized institutions.

Although BitVenus is a CXE, in terms of technology and products, the "user-oriented" smooth experience and the ever-present "decentralization" technology explosion make it have the advantages of both DEX and CEX. It is also a powerful engine for BitVenus to achieve corner overtaking from the CEX competition.

2. Ecology as a "shield", wins every step

If it is said that technology is the spear of the product, to attack the city; then ecology is the shield of the product, to stick to one side.

BitVenus was established in June 2018. Perhaps many ordinary investors have not heard of it, or think that BitVenus is just a small cryptocurrency trading platform. In fact, as a trading platform registered in Seychelles, BitVenus initially focused its operations and user groups in Europe, and even established a market branch in London, England, and set up operation centers in France, Germany and other European regions. It can be said that in the initial stage of market development, with its excellent platform services and solid technical background, it has won the favor of many users and capital institutions.

Compliant operation has a long way to go.

From the beginning of its establishment, BitVenus has insisted on compliant operations. It not only has the endorsement resources of many institutions around the world, but also has won digital licenses in the United States and Canada, and has obtained important support from many partners in many fields around the world, including CoinGecko, CMC, Coindesk, many well-known organizations in the industry, such as Feixiaohao. So far, the mature underlying architecture technology and the early stage of keeping a low profile have enabled BitVenus to have enough foundation to accumulate and develop.

In addition, BitVenus made a big hit in the early years, started a global strategic layout, set up sub-regional nodes, and successively established in the United Kingdom, France, Germany, South Korea, Singapore, Malaysia, Turkey, Russia, India, the United States, Germany, etc. A localized community has been established to provide the most localized services for users from all over the world. Up to now, the one-stop encryption service provided by BitVenus has covered more than 1.2 million+ global users.

As a world-leading CEX, BitVenus is not limited to encrypted digital finance. BitVenus will take CEX as an ecological hub and place it in the position of connecting various ecosystems around the world, better grafting the connection between CEX, project parties and users, and being able to connect major practical applications in a simple and efficient manner scene.

At the same time, in order to take into account the increasingly diverse demand for encrypted derivatives in the Web3.0 era, BitVenus has been steadily working on "cultivating internal skills". At the product ecological level, it is oriented to newcomers and senior personnel in the currency circle, creating a differentiated product echelon, keeping up with industry hotspots, and constantly digging the value of new ecological products and services, including NFT, GameFi, SocialFi, Swap, AI, storage and other subdivisions. In addition, BitVenus will also start a forward-looking layout of product ecology, that is, through repeated iterations of trading products, it will provide users with one-stop convenient and smooth encrypted financial services, thus leading the industry development trend of Web3.0.

Whether it is external strategic cooperation, institutional endorsement, compliance operations, or internal ecological improvement, product iteration, and sector extension, BitVenus uses "shield" as the core driving force to create an "ecological moat" that wins every step of the way.

Conclusion: If the emergence of DEX has promoted the reshuffle of the CEX industry, but in the short and medium term, the market position of CEX is still unshakable. In the competition of "thousands of troops and horses crossing the single-plank bridge" in CEX, those who are more likely to win are those teams who are pragmatic, have solid independent research and development technology strength, and have excellent products. " platform. Apparently, BitVenus is one of those teams!

The Bitvenus representative stated that cryptocurrency regulation is a crucial step towards legitimizing the industry and providing a secure investment environment. The blockchain industry needs to take responsibility for protecting the interests of investors. Other participating experts agreed that unclear cryptocurrency regulations have brought uncertainty to the market, causing many investors to hesitate to invest due to concerns about the legitimacy of cryptocurrencies. Therefore, there is an urgent need for clear regulatory guidelines, harsher punishments for fraudulent behavior, and closer cooperation between industry practitioners and regulatory agencies.

Mr. Enghan, the operations manager of Bitvenus, stated that clear regulatory guidelines would enhance investor confidence and promote the development of the cryptocurrency industry. However, implementing regulations for relatively new and complex industries such as cryptocurrencies presents challenges. Industry practitioners should also play an active role in formulating regulations, and the industry should work with regulatory agencies to develop guidance that protects investors without stifling innovation.

Bitvenus also emphasized the issue of bad behavior in the cryptocurrency industry. To prevent fraudulent activities, industry practitioners need to use advanced technologies such as artificial intelligence and machine learning to identify suspicious transactions and behavior. Industry practitioners should also play a more proactive role in formulating regulations because they possess professional knowledge that can help develop guidelines applicable to everyone.

During the meeting, the WikiBit community also posed two questions to all CEX representatives. The first question was how to protect users' cryptocurrency assets and save funds during transactions. Mr. Enghan suggested improving security by using two-factor authentication and creating a strong, unique password for trading accounts.

As a leading global blockchain exchange, Bitvenus will continue to provide users with the best cryptocurrency trading services and actively participate in industry regulatory construction.