#infrastructure

In a strategic move, Gitcoin, known for project funding, is changing its approach from a broad focus on public goods to enhancing Ethereum's grant infrastructure.

Investment company Uncorrelated Ventures secured $315 Million in recent funding to finance software infrastructure and crypto startups.

The upgrade aims to streamline security configurations, boost throughput, and reduce liveness issues by introducing permissionless infrastructure roles.

This collaboration seeks to digitize various sectors, including government services, healthcare, and education. The Google Distributed Cloud (GDC) services will enhance local infrastructure and data processing capabilities, aligning with El Salvador’s vision to become an innovation hub. President Nayib Bukele emphasized the importance of technology and foreign investment for the nation’s development: “Google’s global experience combined with the audacity of El Salvador will redefine the technological landscape.”

Bitdeer Technologies Group, based in Singapore, has successfully set up an avant-garde bitcoin mining facility in Gedu, Bhutan – a nation recently recognized for its crypto investments. As the facility approaches the end of its trial run, many of its mining units are already in operation. Reflecting on the progress, Bitdeer's CEO, Linghui Kong remarked: "We made significant strides on both the operational and infrastructure fronts during July."

The legal team at Polygon Labs is advocating for DeFi to be classified as critical infrastructure in the United States, warranting oversight by the Department of the Treasury's Office of Cybersecurity and Critical Infrastructure Protection (OCCIP).

Web3 gaming platform is launching a Layer 2 blockchain testnet, Immutable zkEVM, to reduce dependence on a single network infrastructure. The platform utilizes Polygon Supernets, which facilitate the creation of application-specific blockchains.

Partnering with Paxos Trust, financial giant PayPal has unveiled PayPal USD (PYUSD), focusing on swift and budget-friendly payments. With backing from dollar deposits, short-term government securities, and similar cash equivalents, PayPal's CEO, Dan Schulman, envisions the stablecoin bolstering the company's foothold in the digital currency space: "The vision over time is that this becomes a part of the overall payments infrastructure."