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first_img Polymarket hires former Zora CEO to lead on-chain products

Polymarket announced the hiring of former Zora CEO Jacob Horne to lead product efforts, focusing on its DeFi business. Polymarket CEO Shayne Coplan acknowledged that as the company scales, the performance of its on-chain products has "declined," with some long-term users believing that Polymarket has shifted its focus to the U.S. market. Coplan stated that the company is working to unify its products but did not disclose a specific launch timeline, nor did he mention adjustments regarding fees, liquidity, or routing.Polymarket plans to hold a DeFi community meeting "soon" to gather feedback and announce a roadmap; in the meantime, users can provide feedback directly to Horne or Coplan. This appointment gives Horne broad product responsibilities rather than a specific engineering role. An earlier diagnosis came from Polymarket DeFi Engineering Vice President Josh Stevens, who noted on August 31 that the existing Central Limit Order Book (CLOB) is "full of technical debt." Although the team has scaled it tenfold and increased speed threefold, the underlying architecture still has flaws, and fixing one issue may trigger another.Stevens stated that the existing codebase is "unsalvageable in the long run," and the matching engine is being rewritten from scratch in Rust, with the goal of completing it in the latter half of the fourth quarter. Early benchmarks show that the new system's p99 latency is 10 to 20 times faster than the current system, capable of processing 200,000 orders per second, approximately 15 times the existing capacity.

first_img OpenAI announced significant progress on the Millennium Prize Problems

OpenAI stated to The New York Times that since announcing progress on the Navier-Stokes equations on September 8, it has made "substantial progress" on one of the Millennium Prize Problems, but did not disclose which specific problem it is or provide a timeline for disclosure. The Millennium Prize Problems are seven mathematical problems established by the Clay Mathematics Institute since 2000, each with a reward of one million dollars.Speculation suggests that the problem may be the Hodge Conjecture, a 76-year-old problem regarding how to calculate the number of "holes" in complex geometric shapes. OpenAI has not confirmed this speculation and has not responded to rumors that its underlying model is a version of Aeon specifically designed for long-duration tasks. Previously, on September 8, OpenAI announced that its unreleased internal model generated a proof verified by Lean, indicating that the Navier-Stokes equations could "blow up" to physically impossible infinite speeds, involving about 10,000 coordinated AI agents and taking approximately 88 hours.However, this statement has sparked controversy. New York University mathematician Tristan Buckmaster stated that he and Anthropic researcher Levent Alpöge had been working on the related proof for nearly a year prior and completed it on August 22, while OpenAI's Sébastien Bubeck published his findings first upon learning of it. OpenAI stated that it is not pursuing the one million dollar prize, but rather using these problems as a public benchmark to measure the speed of model progress. The review of the Navier-Stokes proof by the Clay Mathematics Institute is still ongoing, and verification of past Millennium Prize Problems typically takes several years.

first_img CoinShares researcher: Germany's cryptocurrency adoption is progressing well, while the UK has fallen behind

According to Cointelegraph, CoinShares crypto researcher Luke Nolan stated on the Chain Reaction program that cryptocurrency adoption in Germany is making "very good progress" through family offices, wealth management institutions, and younger investors, while the UK is "still very behind," mainly due to regulatory lag. Nolan pointed out that the UK's Financial Conduct Authority (FCA) only lifted the ban on crypto exchange-traded products less than a year ago, and its digital asset market is still in the "nascent" stage.In terms of relevant data, Germany currently has 89 licensed crypto asset service providers, accounting for 25.5% of the European Securities and Markets Authority (ESMA) MiCA registered companies; in June this year, Germany also ranked first in the EU with 57 authorized crypto companies.Meanwhile, Deutsche Bank stated on Wednesday that it is awaiting regulatory approval to launch crypto custody services for institutional clients in Europe, expecting to obtain a license in October; Landesbank Baden-Württemberg is also set to provide crypto custody services in April 2024 through a partnership with Bitpanda.In contrast, the FCA released final guidance on Wednesday clarifying when crypto activities need to be authorized and plans to open license applications on September 30, with the new system set to take effect on October 25, 2027.Additionally, the FCA issued stop notices on Thursday to three London locations suspected of assisting illegal peer-to-peer crypto trading; the UK Parliament approved regulations in February to bring digital assets under FCA regulation and finalized a package of rules in June.
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