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Starknet completes quantum-resistant signature transfer testing, exploring wallet upgrade paths that do not require migration

Starknet announced that it has completed the quantum-resistant signature transfer test, where a wallet account using a quantum-resistant signature mechanism completed a real transfer on the Starknet mainnet, with a transaction fee of about 6 cents, and can be queried through the block explorer. This account is currently an experimental, unaudited version, mainly used for research testing. StarkWare stated that this transfer benefits from the design of the Starknet account model.Unlike most blockchains that fix the signature algorithm at the protocol layer, each account on Starknet is a smart contract that can autonomously define the accepted signature schemes, allowing users to upgrade their wallets from traditional elliptic curve signatures to quantum-resistant signatures without hard forks, asset migrations, or changing addresses. StarkWare pointed out that most blockchains face quantum computing risks because wallet signatures and underlying verification systems rely on elliptic curve cryptography. Once large-scale quantum computers appear, running Shor's algorithm could potentially break the related encryption systems. Currently, the Starknet ecosystem supports a quantum-resistant signature scheme based on Falcon-512, which is part of the NIST post-quantum cryptography standardization process, with relevant implementations promoted by ecosystem teams and organizations such as OpenZeppelin.

BlackRock, Strategy, and others jointly established the Bitcoin Security Alliance, committing to provide $15 million in funding for core developers and quantum resistance research over the next three years

Nine financial institutions and Bitcoin companies announced the joint establishment of the Bitcoin Security Alliance, with founding members including Anchorage Digital, ARK Invest, BlackRock, Block, Blockstream, Coinbase, Fidelity, Galaxy, and Strategy, covering the entire chain of institutions such as custody, trading, infrastructure, payments, and asset management.The alliance commits to providing a total of $15 million in funding over the next three years to support developers and researchers in the field of Bitcoin security, including long-term work to prepare Bitcoin for the future era of quantum computing. Each member independently decides which developers, researchers, or organizations to direct their funding towards. The daily operations of the alliance are coordinated on a voluntary basis by Brink Executive Director Mike Schmidt, with Brink being a nonprofit organization that funds Bitcoin open-source developers.The alliance clearly states that it does not formulate or direct Bitcoin protocols, does not express opinions on specific protocol changes, and does not represent Bitcoin or its developers—Bitcoin development continues to be carried out by a globally decentralized community of contributors. Its positioning is to emulate the model of industry organizations that have long supported open-source software, providing resources and attention to developers without controlling the underlying work.Strategy CEO Phong Le stated, "As long-term holders, ensuring the security of Bitcoin for generations is our greatest incentive"; BlackRock's Global Head of Digital Assets Robert Mitchnick pointed out that the work of Bitcoin core developers is "extremely important," and this commitment will provide "significant additional funding" for Bitcoin's long-term security needs. The alliance will also serve as a reliable source of information for investors, the public, and the media in the field of Bitcoin security, with plans to publish and continuously update materials related to Bitcoin security in the coming months.

Wintermute: Bitcoin shows "bearish but not falling" bottoming characteristics, key resistance level at $67,250

Wintermute released a market analysis stating that under multiple geopolitical shocks such as the U.S. airstrikes on Iran and the closure of the Strait of Hormuz, Bitcoin has still maintained the critical support level of $62,000, showing strong resilience in the market.Last week, as U.S.-Iran negotiations were paused due to related issues, Iran attacked commercial vessels, and the U.S. launched a new round of airstrikes. Tehran announced the indefinite closure of the Strait of Hormuz, leading to a significant rise in international oil prices, with Brent crude oil seeing a weekly increase of 6.3%, and the yield on 10-year U.S. Treasuries rising to 4.57%. The market has readjusted the probability of a Fed rate hike in September to about 61%, and the U.S. CPI data to be released this week will be a key indicator affecting expectations for the July FOMC meeting.In the cryptocurrency market, Bitcoin has maintained a stable trend despite facing consecutive geopolitical risk events, holding the $62,000 area after a minimum pullback and gradually rising to around $64,000. Ethereum performed even stronger, with prices nearing $1,805.Meanwhile, the eight-week trend of ETF fund outflows has finally ended, with Bitcoin and Ethereum-related products recording a total inflow of about $282 million last week. Although the weekly inflow is still insufficient to confirm a trend reversal, combined with the recent continuous accumulation by whales and the market's weakened reaction to negative news, marginal selling pressure is easing, and the market may be forming a phase bottom.Additionally, the market's reaction to Strategy selling Bitcoin has been muted, contrasting sharply with two months ago when the sale of just 32 BTC triggered a sell-off, indicating that investor concerns about potential selling pressure have significantly decreased.Currently, Bitcoin has shown a "not falling on bad news" bottoming characteristic, but the market still needs to wait for further confirmation. Key factors going forward include the performance of U.S. CPI, whether ETF funds can continue to flow in, and the developments in the Strait of Hormuz situation. If inflation data cools, fund flows continue to improve, and progress is made on the CLARITY Act, Bitcoin is expected to challenge the key resistance level of $67,250; conversely, if oil prices continue to rise and macro pressures intensify, the $60,000 support may face another test.
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