Blue

Musk describes the DOGE blueprint and attempts to boost market confidence in U.S. debt

ChainCatcher news, according to Jinshi reports, Elon Musk, who leads the U.S. government's efficiency department "DOGE," recently outlined a blueprint for significant cuts to U.S. spending and regulations, including the abolition of the U.S. Agency for International Development (USAID). Musk stated in an X Spaces audio conference that a thorough cleanup of U.S. regulations is needed, revealing that his team is pushing to close this foreign aid agency established by U.S. Congress, which would be the largest reduction plan to date.Additionally, Musk announced that he will have a dialogue with JPMorgan CEO Jamie Dimon this week, attempting to persuade the bond market that his "DOGE" cost-cutting plan can enhance market confidence in U.S. debt. Any signs of significant spending cuts and improvements in the fiscal deficit are good news for investors betting on a decline in U.S. Treasury yields. This nearly hour-long audio discussion was Musk's first detailed talk about the "DOGE plan" since Trump's election victory, with participation from Republican Senators Joni Ernst, Mike Lee, and former "DOGE" co-chair Vivek Ramaswamy in this free discussion.Analysts believe that Musk's intensive actions two weeks before Trump's administration indicate that the authority of "DOGE" has far exceeded the scope of the executive order that created the department—this order only required it to "improve government efficiency and productivity by upgrading federal technology software."

Vitalik published an article outlining the development blueprint for the ideal crypto wallet, focusing on cross-L2 transactions and privacy protection

ChainCatcher message, Ethereum co-founder Vitalik Buterin published a latest blog post detailing his vision for the ideal crypto wallet. The article focuses on security and privacy, proposing key features such as cross-L2 transaction experience, account security, fraud prevention, and data wallets.Regarding cross-L2 transactions, Vitalik suggests adopting chain-specific address formats (e.g., address@optimism.eth) and recommends that wallets automatically handle cross-chain exchanges and transfer processes. For account security, he advocates for social recovery and multi-signature mechanisms, proposing a 2-of-3 protection scheme for new users, which includes zk-email, local keys, and service provider backup keys.On privacy protection, the article emphasizes the need to integrate features like privacy pools and stealth addresses directly into mainstream wallets to achieve default privacy. In terms of data storage, Vitalik suggests that wallets evolve into personal data storage tools, using an M-of-N key sharing mechanism to protect user data. The article also explores secure chain access mechanisms, recommending the enhancement of wallet security through light clients and private information retrieval (PIR) technology, and calls on developers to adopt on-chain content version control to improve DApp security.
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