Avalanche's co-founder helped build a proof-of-work currency six years before Bitcoin... Emin Gün Sirer (@el33th4xor) co-designed Karma at Cornell in 2003 with two of his students. His bios call it the first currency to mint coins through proof-of-work, though Wei Dai's 1998 b-money proposal sketched the idea earlier. Karma aimed to stop freeloading on file-sharing networks by tracking what each user gave and took, long before Bitcoin introduced proof-of-work money. In 2013, he and Ittay Eyal found a flaw in Bitcoin's mining rules. A group of miners could secretly hold back the blocks they found, then release them at the right moment to wipe out rivals' work. Even a minority of miners could earn more than they should. The attack is now known as "selfish mining". He later co-founded @AvaLabs, the company behind Avalanche (@avax), and still runs it as CEO.

avaxszn 🔺

Missing Summit already? Us too. Here’s what was announced, launched, unveiled, or teased last week alone: - $807B New York Life Investment Management is bringing its first tokenized fund to Avalanche through @centrifuge, putting its U.S. High Yield Corporate Bond Strategy onchain. - @aave is launching a specialized RWA lending market on Avalanche, giving institutions a way to borrow against tokenized financial assets. - @BuildOnIris raised $40M+ to expand ALVA, bringing payments, identity, rewards and settlement onchain for mobile users across emerging markets. - $500B asset manager Janus Henderson became an Avalanche validator and is providing anchor capital to @TranchedFi, an onchain credit platform with $300M in AUM. - @tare_io raised $13.25M to build a regulated financial institution entirely onchain, connecting loan originators directly with institutional capital. - @COTInetwork launched Privacy-on-Demand and its Privacy Portal on Avalanche, bringing private computation and transactions to C-Chain applications. - @Paxos integrated Avalanche across infrastructure serving 650+ institutions and supporting 470M+ end users globally. - @NYSE plans to bring 24/7 trading onchain with its in-development ATS platform. - Michael Blaugrund of Intercontinental Exchange / NYSE said: “As we’ve evaluated different platforms, Avalanche checks a lot of those boxes for us, so we’re very engaged with the team.” - @tassatgroup published new results from @Lynq_Network’s move to an Avalanche L1: 65% faster processing and 50% lower infrastructure costs for its institutional settlement network. - @uptop_xyz and @UMichAthletics are bringing Michigan fan rewards onchain, creating one identity across sports that rewards fans for how they show up. - @raincards is integrating KRW1 from @BDACSKorea into its global payments infrastructure, opening a path to 175M+ Visa merchant locations. - Hyundai Card outlined its next steps after its Avalanche payments PoC, with a focus on proving the model can operate at scale. - @PharaohExchange is planning to bring permissionless, 24/7 trading of tokenized U.S. stocks to Avalanche DeFi. - @TheGrottoL1 announced their app’s expansion to Windows, Mac, and Linux, as well as launching their in-house studio. - @Bitwise co-founder Hunter Horsley said that if he were building a chain: “hell yeah” it would be on Avalanche. - @si_tickets_ teased that multiple Premier League stadiums will go fully onchain in 2027. - @FIFACollect crossed 1 MILLION users, with CEO Francesco Abbate pointing to Avalanche technology as the natural fit for its requirements. - @bloxtel unveiled the AP 201, bringing private 5G infrastructure, subscriber identity and authentication onchain with Avalanche. - @insomniacevents is partnering with Avalanche and @raincards on a new fan loyalty program for live entertainment. - @kevinolearytv unveiled his $11M 1-of-1 Shohei Ohtani card in public for the first time, said he’d like to one day tokenize it, and later pointed to Avalanche’s multi-chain architecture as one of the reasons it has his attention. And, perhaps most importantly: @luigidemeo, @Melt_Dem and @fintechfrank ate some really hot wings and survived. Barely. Eventful week, and it’s just the start. More to come, stay tuned 🔺

BREAKING: NYSE plans to bring 24/7 trading on chain with their in-development ATS platform “As we’ve evaluated different platforms, Avalanche checks a lot of those boxes for us, so we’re very engaged with the team” - Michael Blaugrund of Intercontinental Exchange/NYSE

.@BNBChain leads tokenized stock market cap growth by chain over the past 90 days, adding $569.2M - with @Avax (+$334.5M) and @Solana (+$236.2M) also making the top 3. Data via: @tokenterminal.