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New initiatives carry on to prosper and advance the business even as American regulators tighten down on cryptocurrencies and the sector suffers amid a larger financial crisis.
On March 27, Polygon will open the zkEVM mainnet beta, and programmers could try to link their platforms. Decentraland’s Metaverse Fashion Week, now in its second year, takes place this week, and on March 31, 15 projects investigating diverse use cases for an Australian CBDC start a two-month trial.
The upcoming week’s cryptocurrency events are listed below for you to mark your calendars.
The zkEVM mainnet beta for Polygon will launch on Monday after spending a year in development. With a zero knowledge-rollup executing off-chain calculations on a secondary layer for quicker and less expensive transactions while emphasizing security, this network will provide a scaling solution for the Ethereum ecosystem.
The network will run Ethereum’s code, allowing programmers to integrate Ethereum applications without making any substantial modifications. More programmers may become interested in connecting their platforms with the zkEVM in the upcoming weeks.
Protocol for decentralized financing The Block earlier claimed that Aave was thinking about delivering a minimally viable version of Aave version 3 over the Layer 2 network. The protocol further suggested taking into account the possibility of releasing Aave’s GHO stablecoin on the zkEVM.
There are already other collaborations on the table. Last week, Polygon and web3 game developer Immutable made an announcement about their partnership to introduce the Immutable zkEVM Layer 2 blockchain network.
The follow-up edition of Metaverse Fashion Week has already started. From March 28 to March 31, Decentraland will present a number of runway shows, design contests, shops, and conferences in the virtual world under the curatorial subject “future heritage.”
The competition is being held for the second time. This year, the emphasis is on facilitating interoperability across virtual worlds and bridging the gap between the real and the digital. Adidas and Coach will participate for the first time, while Dolce & Gabbana, Tommy Hilfiger, and DKNY will be returning.
In addition to luxury companies, Dencentraland’s own designer community, or neo designers, will perform online. According to Dr. Giovanna Graziosi Casimiro, who is in charge of Metaverse Fashion Week at the Decentraland Foundation,
“we are seeing the return of many luxury fashion houses as well as the emergence and elevation of digitally native fashion.”
The metaverse is becoming more and more crowded with fashion businesses. For instance, brands like Gucci, Hugo Boss, and Louis Vuitton have already debuted in the metaverse or have expressed interest in doing so.
On March 31, a group of 15 projects will begin a two-month testing period to examine various use cases for a digital currency backed by the Australian central bank. Examples include the use of CBDCs in cattle auctions, tokenized foreign currency settlements, and offline payments.
The initiative is being managed by a public-private collaboration between the Reserve Bank of Australia and the Digital Finance Cooperative Research Center. As partners in the project, Mastercard, ANZ, and the Commonwealth Bank will look at use cases for a CBDC.
The chosen pilot projects will be tested over a trial period that will go through the end of May. The program’s results and recommendations will be compiled in a report that will be released in mid-2023.
Brad Jones, associate governor for financial systems at the Reserve Bank of Australia, stated in a statement :
“the pilot will contribute to hands-on learning by industry and it will add to policymakers’ understanding of how a CBDC could potentially benefit the Australian financial system and economy.”
