ChainCatcher news, Bitcoin scaling network Mezo announces the launch of the foundational testnet matsnet Alpha, which will support users in creating and trading Meme coins.

According to ChainCatcher news reported by Cointelegraph, Chinese e-commerce giant Alibaba is scaling back its metaverse business operations, with dozens of employees in its metaverse division being laid off. The metaverse division has operations in both Shanghai and Hangzhou and was established in 2021.It is reported that the metaverse division previously received "tens of billions of yuan" in investment and employed hundreds of staff. The division will continue to exist, providing metaverse applications, tools, and services.

ChainCatcher news, recently, Mango Network announced a strategic partnership with Web3 VC/accelerator ScalingX. The two parties will work together to accelerate the development of the Web3 application ecosystem, focusing on the technical incubation and ecological growth of Web3 innovative projects, especially those with application innovation and rapid user growth potential.As a well-known Web3 accelerator, ScalingX will bring mature projects, financing, and brand resources to the Mango ecosystem, particularly in key markets such as North America and Asia-Pacific.Mango Network, as an innovative Multi-VM full-chain infrastructure network, will empower ScalingX's accelerated projects through resources such as grants, market growth, and technical support, helping them achieve breakthroughs in brand promotion and global market expansion.

ChainCatcher News: Recently, Mango Network announced a strategic partnership with the globally leading Web3 VC/accelerator ScalingX. The two parties will work together to accelerate the development of the Web3 application ecosystem. Their collaboration will focus on the technical incubation and ecological growth of Web3 innovative projects, especially those with application innovation and rapid user growth potential.As a globally renowned Web3 accelerator, ScalingX will bring mature projects, financing, and brand resources to the Mango ecosystem, particularly in key markets such as North America and Asia-Pacific. Mango Network, as an innovative Multi-VM full-chain infrastructure network, will empower ScalingX's accelerated projects through resources such as grants, market growth, and technical support, helping them achieve breakthroughs in brand promotion and global market expansion.In this collaboration, both parties will leverage their complementary advantages, using strong technical infrastructure and global resources to jointly promote the accelerated growth of quality projects, laying a solid Web3 infrastructure for the era of super Dapp applications.

ChainCatcher message, Ava Labs co-founder Kevin Sekniqi posted on platform X: "Over the past few years, Avalanche has been focused on achieving horizontal scaling (application chains, etc.), and it seems that it will soon dominate this area. However, there is still much to be done in terms of vertical scaling, and this issue must be addressed next.In my view, larger hardware must be at the core of achieving the above goals."

ChainCatcher message, Ethereum co-founder Vitalik Buterin stated on social media: "In 2015, we didn't know about the existence of Rollups and Plasma. Data availability sampling had not yet been invented. We didn't know when SNARKs would be feasible. Basically, everything we knew about how to scale in a decentralized way was downstream research from 2015 to 2020."

ChainCatcher news, Ethereum scaling solution t1 protocol has completed a $2.5 million Pre-seed round of financing, led by a16z CSX, with participation from Espresso, Frax, Cow Swap, ETH Global, ENSO, INJECTIVE, TITAN, as well as Guy Wuollet, Ali Yahya, Eric Chen, and others.In addition, t1 protocol has become a member of a16z Crypto Startup School (CSX).According to RootData, the t1 protocol is a fast finality scaling solution for Ethereum. It supports real-time proof generation to unify Ethereum.

ChainCatcher news, according to official sources, a new launch platform satspump.fun has appeared on the Bitcoin scaling network Fractal Bitcoin. Currently, this platform has reached a partnership with the Bitcoin ecological chain game infrastructure UniWorlds.

ChainCatcher news, Bitcoin scaling network Mezo has completed a $7.5 million financing round, led by Ledger Cathay Fund, with participation from ArkStream Capital, Aquarius Fund, Flowdesk, GSR, Origin Protocol, and Bybit's ecosystem project Mantle EcoFund. This round of financing brings its total funding to $30 million.The new funds will be used for Mezo's plans to expand the adoption of its network, including integrating more products into its network, such as its Bitcoin staking platform Acre.According to the Web3 asset data platform RootData, Mezo is a Bitcoin Layer2 network that enables users to access applications that facilitate the use of Bitcoin tokens, promoting a circular Bitcoin economy, not just a "savings technology." Mezo utilizes the idle Bitcoin of holders through the "HODL Proof" points program, where the longer the holding period, the more the contributor's "HODL score multiplier."

ChainCatcher news, the Bitcoin scaling solution Fractal Bitcoin announces that the testnet will soon be open to the public. The current testnet tokens have no actual value or incentives and are only distributed to the initial group of developers testing core functionalities. Before the launch of the Fractal mainnet, the current testnet will also undergo several resets.

ChainCatcher news, according to The Block, the Bitcoin scaling protocol QED has completed a $6 million seed round financing, with Blockchain Capital as the sole investor, achieving a valuation of "nine figures," or at least $100 million. Previously, QED had raised $3.25 million in a Pre-seed round from institutions such as Arrington Capital, StarkWare, and Draper Dragon, as well as $1.35 million in an angel round from institutions like Sparkle Ventures, supported by Animoca Brands.It is reported that QED Protocol focuses on zero-knowledge proof verification technology, aiming to enable decentralized exchanges, DeFi, and other applications on Bitcoin through the Taproot upgrade. Founder Carter Feldman stated that QED Protocol can process over 150,000 transactions per second and plans to launch a testnet in the next 3-4 months, with the mainnet going live after community consensus is reached, along with the launch of a native token to incentivize the operation of high-performance infrastructure. QED is headquartered in Hong Kong, has over 30 full-time employees in the Greater Bay Area, and plans to open its first office in Texas, USA.

ChainCatcher news, according to Cointelegraph, due to the sudden surge in TPS of Ethereum Layer3, the transaction volume per second (TPS) of the Ethereum ecosystem has skyrocketed to a historic high.L2BEAT data shows that on June 16, the Ethereum scaling network, including Layer2 and Layer3 blockchains, recorded a total of 246.18 TPS, equivalent to approximately 21.2 million transactions throughout the day. Among these, over 41% of the transactions occurred on Xai, a new Ethereum Layer3 scaling solution focused on gaming applications. Before June 10, Xai's TPS hovered around 1 per day, but has been rising almost daily since then, reaching a peak of 101.72 TPS on June 16.

ChainCatcher news, Bitcoin Core developer Peter Todd posted on platform X that Starknet's foray into Bitcoin's scaling layer is a good reason to oppose enabling OP_CAT. Starknet could bring destructive MEV shenanigans to Bitcoin, just like Ethereum, and pouring large amounts of funds into the nascent STARKS is unreliable; Eli's Zcash has repeatedly (maliciously) exploited token inflation.