Welcome to The Protocol, CoinDesk’s weekly roundup of the most significant developments in cryptocurrency technology. I’m Margaux Nijkerk, CoinDesk’s dedicated Ethereum reporter.
In this edition, we’ll explore:
– The Launch of Hoodi: Ethereum’s New Testnet
– Microsoft Issues Warning on Malware Targeting Cryptocurrency Wallets
– Halliday Secures $20 Million for AI Protocol to Simplify Smart Contract Creation
– Sam Altman’s World Network and Razer Collaborate to Combat Gaming Bots
This article is part of The Protocol, our weekly newsletter that delves deep into the technology underpinning the crypto world. Subscribe now to receive it directly in your inbox every Wednesday.
Hoodi: A Fresh Testnet for Ethereum
Ethereum developers have recently rolled out a new test network named Hoodi to facilitate the upcoming “Pectra” upgrade. Scheduled to launch on Hoodi on March 26, this pivotal upgrade aims to enhance the Ethereum ecosystem. If the initial testing on Hoodi goes smoothly, the upgrade is expected to be integrated into Ethereum’s mainnet about 30 days later.
Hoodi was established following unsuccessful Pectra tests on Ethereum’s previous testnets, Holesky and Sepolia, which encountered configuration issues that prevented proper finalization. Test networks like Holesky, Sepolia, and now Hoodi are crucial in mimicking the main Ethereum network, providing developers a safe environment to experiment with code modifications or significant upgrades before they are deployed to the mainnet.
Microsoft Sounds Alarm on Cryptocurrency Malware Threats
In a recent report, tech giant Microsoft has raised concerns over a new strain of malware that targets 20 of the most popular cryptocurrency wallets used with Google Chrome extensions. Dubbed StilachiRAT, this remote access trojan is capable of employing advanced techniques to evade detection and exfiltrate sensitive user data.
First discovered in November 2024, StilachiRAT poses a significant threat by potentially stealing users’ wallet information and any credentials, such as usernames and passwords, stored in their Google Chrome browser. Among the targeted wallets are well-known options like MetaMask, Coinbase Wallet, Phantom, OKX Wallet, and BNB Chain Wallet. While the malware hasn’t seen widespread distribution, Microsoft has yet to identify the source of this threat and has issued guidelines for users to mitigate risks, including the installation of antivirus software.
Halliday Secures Major Funding for AI-Driven Smart Contract Solutions
In a notable development within the decentralized finance (DeFi) sector, Halliday has secured $20 million in funding to advance its Agentic Workflow Protocol (AWP). This innovative protocol aims to streamline the development of DeFi applications, effectively eliminating the need for programmers to write smart contracts.
The Series A funding round was led by the crypto arm of venture capital powerhouse Andreessen Horowitz (a16z). Halliday asserts, “Our mission is to pioneer the software era of blockchain, enabling developers to build applications in hours, not years.” With Halliday’s technology, the vision is to make writing smart contracts a thing of the past.
Combating Bots in Gaming: A Collaboration Between World Network and Razer
In a fascinating intersection of blockchain and gaming, Sam Altman’s World Network is joining forces with gaming hardware leader Razer to address the persistent issue of bots in online gaming. Their initiative, featuring “Razer ID verified by World ID,” is designed as a single sign-on system that distinguishes genuine human players from bots.
This verification process builds upon Razer ID, the company’s existing login service, ensuring that every Razer ID account is linked to a real person. This collaboration comes at a time when artificial intelligence tools are increasingly infiltrating various aspects of online life, including video games, which have long been affected by non-human AI bots.
In Other News
– The EOS Network has announced a rebranding to Vaulta as it shifts focus toward Web3 banking. This transition includes a token swap expected by the end of May and the launch of the Vaulta Banking Advisory Council, which will consist of industry experts aiming to bridge traditional banking with decentralized systems.
– Raydium, a decentralized exchange operating on the Solana blockchain, is gearing up to launch its own token issuance platform, called LaunchLab, in the near future. This platform will initially mimic the popular token issuance service Pump.Fun, with additional features designed to enhance token launches.
– The U.S. Securities and Exchange Commission (SEC) is reportedly set to abandon its appeal against Ripple, concluding a four-year legal battle. Following this news, the XRP token, closely associated with Ripple, experienced a significant price surge of 10% during U.S. morning trading hours.
Upcoming Events
Mark your calendars for these key cryptocurrency events:
– March 18-20: Digital Asset Summit, New York
– April 8-10: Paris Blockchain Week
– April 30-May 1: Token 2049, Dubai
– May 14-16: Consensus, Toronto
– May 20-22: Avalanche Summit, London
– May 27-29: Bitcoin 2025, Las Vegas
– June 30 – July 3: EthCC, Cannes
– October 1-2: Token2049, Singapore
Stay tuned for more updates and insights as we navigate the ever-evolving world of cryptocurrency technology!
