Welcome to another edition of our blockchain blog, where we delve into the latest developments and trends shaping the world of decentralized finance (DeFi) and blockchain technology. In this post, we will explore the impressive salaries in the DeFi sector, the resubmission of Nasdaq’s Bitcoin ETF application, and the introduction of an on-chain encrypted messaging feature by the TON Foundation. Let’s dive in!
Highly Competitive Salaries in DeFi: A Positive Indicator for 2023:
Despite the financial scandals and market volatility experienced in the past year, salaries in the DeFi sector have remained highly competitive. The specialized skill sets of DeFi engineers and the relatively small pool of developers have allowed them to command generous compensation packages. An intriguing trend has emerged, with base salaries averaging between £100,000 to £125,000 per quarter in 2021 and 2022. However, in the fourth quarter of 2022, salaries experienced a significant increase, reaching an average of £142,500. This upward trajectory suggests a positive outlook for DeFi in 2023, showcasing the sector’s resilience and continued demand for skilled professionals.
Nasdaq’s Bitcoin ETF Resubmission: Coinbase Steps in as Surveillance-Sharing Partner:
In a bid to satisfy regulatory requirements, the Nasdaq exchange has resubmitted its application to list BlackRock’s proposed Bitcoin ETF. Feedback from US securities regulators highlighted the need for a surveillance-sharing agreement partner to be named. Nasdaq has chosen Coinbase, the renowned cryptocurrency exchange, as the market to be monitored under this agreement. This move is in line with the SEC’s ruling that a bitcoin trust sponsor must establish a surveillance-sharing agreement with a significant regulated market. Additionally, other applications, including one from Fidelity, have also updated their filings to name Coinbase as the surveillance-sharing partner. This development signifies a step forward for the potential approval of Bitcoin ETFs.
TON Foundation’s On-Chain Encrypted Messaging: Enhancing Privacy in the Open Network:
The TON Foundation, developer of the Open Network (TON), has introduced an on-chain encrypted messaging feature. This development allows TON users to send private messages securely, with end-to-end encryption ensuring that only the intended recipient can read them. The TON network, created after Telegram abandoned the project in 2020, aims to offer greater scalability and transaction throughput while maintaining decentralization. Encrypted messaging is currently available on various retail wallet apps, and it will be integrated into the mobile wallet Tonkeeper in future updates. This feature reinforces the importance of privacy in the growing Web3 ecosystem.
As we conclude this edition of our blockchain blog, we reflect on the intriguing developments shaping the world of DeFi and blockchain technology. The resilient salaries in the DeFi sector, the resubmission of Nasdaq’s Bitcoin ETF application with Coinbase as the surveillance-sharing partner, and the TON Foundation’s introduction of on-chain encrypted messaging all demonstrate the continuous evolution and innovation within the blockchain space. We look forward to witnessing further advancements in the coming months and beyond. Stay tuned for our next blog post, where we’ll continue to unravel the latest in blockchain technology.