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Jason Fung, Head of Global Partnerships: The prediction market should not only be a "trading market," but should also become an open ecosystem for users to create markets

On August 21, the GATE ZONE fireside chat event took place in the Summer Bay area of Coinfest Asia, where Gate Head of Global Partnerships Jason Fung shared insights on the theme "Predicting the Biggest Market Opportunities." He discussed the competitive landscape of prediction markets, user-created markets, the Builder ecosystem, and future market opportunities. Jason Fung stated that as on-chain prediction markets continue to develop, industry competition will no longer focus solely on liquidity and trading volume. Instead, lowering the barriers to market creation, diversifying market types, and enabling more users to participate in market building will become important directions for the future development of prediction markets.Regarding the recent launch of the event contract Builder by Gate DexBuilder, Jason Fung mentioned that enabling users to create markets independently is an important step towards the openness of prediction markets. By lowering the barriers to creating and launching event markets, users can quickly build markets around popular events and explore more niche themes and potential demands, thereby driving the evolution of prediction markets from a product form dominated by a few platforms to a more open market ecosystem.Jason Fung believes that there are still many opportunities in prediction markets that have not been fully explored, and their application scope is expected to continue extending from popular fields such as politics, sports, crypto, AI, and entertainment. As more developers and entrepreneurs enter this space, the Builder ecosystem, market diversity, and user experience will become important driving forces for industry development, and on-chain event markets are expected to further expand from early user groups to a broader user market.

Coldcard releases new firmware to enhance security; affected users need to regenerate their mnemonic phrases and migrate their assets

Coldcard has released the latest firmware 5.6.1 (Mk4/Mk5) and 1.5.1Q (Q). This update is based on a three-week security review following an emergency fix, focusing on addressing the security risks posed by previous mnemonic phrase generation attacks. Each newly generated mnemonic phrase must include at least one user entropy source, such as irregular key presses at least 65 times, physical dice rolls 50 times, or physical coin tosses 128 times, combined with fresh entropy provided by STM32 TRNG, SE1, and SE2.The new firmware also adds pre-signing phased PSBT verification, strengthens USB connection and firmware update boundaries, improves Delta Mode isolation mechanisms, fixes active wallet backup issues, enhances random number generator initialization and fault checking, adjusts SIGHASH default settings, and includes multiple security and correctness improvements. Coldcard states that this update aims to further reduce the risk of the device being attacked.The official reminder is that updating the firmware cannot fix existing mnemonic phrases generated by previously affected firmware. If a user's mnemonic phrase falls within the scope of this security announcement, they should first update the device, then generate and verify a brand new mnemonic phrase, and migrate funds to the new wallet. Coldcard recommends that all Mk4, Mk5, and Q users update their devices promptly and verify the signatures of the downloaded firmware.
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