source: CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
2025. Sep. 24. 15:23
Welcome to The Protocol, CoinDesk's weekly wrap of the most important stories in cryptocurrency tech development. I’m Margaux Nijkerk, a reporter at CoinDesk.
In this issue:
Ethereum Developers Target December for Fusaka Hard ForPlasma to Launch Mainnet Beta Blockchain for StablecoinsXRP Holders Can Now Earn Up to 8% Through New Liquid Staking TokenInternet Computer Bets Big on AI as Crypto Markets Play Catch-UpUnknown block type "divider", specify a component for it in the `components.types` optionFUSAKA COMING THIS DECEMBER: Ethereum core developers have confirmed a tentative roadmap for the network’s next major upgrade, Fusaka, during an All Core Developers Consensus (ACDC) call. The upgrade, designed to further scale the blockchain, is now scheduled for early December, with follow-up changes aimed at more than doubling blob capacity in the weeks after. Before the Fusaka upgrade reaches Ethereum’s mainnet, developers will push the code through three public test networks in October. If those tests proceed smoothly, the mainnet activation is targeted for Dec. 3. Developers noted that exact epoch numbers and timing will be confirmed in the coming days. While Fusaka itself won’t immediately change blob parameters, the call outlined a phased approach to scaling blob availability through so-called Blob Parameter Only (BPO) forks. One week after Fusaka BPO-1 will raise the blog target/max from 6/9 to 10/15, then one week later BPO-2 will push the limit to 14/21. These incremental changes are based on performance observed on the Fusaka Devnet-5 and are intended to safely expand capacity without requiring client-side software updates. Blobs, introduced in March’s Dencun upgrade, allow Ethereum to store large amounts of rollup transaction data more efficiently, reducing costs for users of layer-2 scaling networks. — Oliver Knight Read more.
PLASMA BLOCKCHAIN FOR STABLECOINS COMING: Plasma, a new blockchain built specifically for stablecoins, is set to flip the switch on its long-awaited mainnet beta, introducing the chain and its native token, XPL, on Sept. 25. According to a blog post from the team, the network will debut with more than $2 billion in stablecoin liquidity from over a hundred partners on day one — an aggressive attempt to position Plasma not as just another general-purpose chain, but as the backbone for stablecoin transfers. That won’t be an easy feat. Ethereum and Solana already dominate stablecoin volumes, while newer chains continue to optimize for similar flows. Plasma’s bet is that its architecture, dubbed PlasmaBFT, will give it an edge. The system is designed for fast, composable stablecoin transactions the team said, and from launch, users will be able to move USDT with zero fees through Plasma’s dashboard — a feature the team hopes will stand out in a crowded DeFi landscape.Token distribution is also aimed at broad accessibility. Prior to launch, 10% of XPL was sold in a public offering. At launch, 25 million tokens will be allocated to the community, with another 2.5 million reserved for members of the so-called Stablecoin Collective.— Margaux Nijkerk Read more.
MIDAS AND INTEROP LAVS UNVEIL NEW LIQUID STAKING TOKEN: Real-world assets (RWA) focused project Midas and Interop Labs unveiled mXRP, an attempt to channel dormant XRP supply into yield-bearing structures the could deliver returns as high as 8%. Announced at XRPL Seoul 2025 on Monday and pitched as the first liquid-staking product tied directly to the XRP ecosystem, the product is minted on XRPL’s EVM through audited contracts. XRP is bridged in and wrapped under Midas’ tokenized certificate framework. MXRP can be used as a structured vehicle that users can slot into existing decentralized finance (DeFi) infrastructure, with early strategies including market-making and liquidity provisioning. Targeted net returns are set in the 6%–8% range, with outcomes fluctuating depending on underlying strategy performance.— Shaurya Malwa Read more.
ICP BETS BIG ON AI TECH STACK: The ICP, a blockchain project that has sought to differentiate itself from rivals, is doubling down on its pitch as the go-to network for on-chain artificial intelligence (AI). This could be the beginning of a new tech stack - one in which AI, not humans, becomes the primary developer of applications, according to Dominic Williams, founder of Internet Computer developer Dfinity. Williams argued that while crypto prices remain driven largely by market mechanics - treasury operations, liquidity games and speculation - the underlying technology will eventually force a reckoning in an interview with CoinDesk. “In the long run, markets begin to reflect realities on the ground,” he said. “But as yet you’re not seeing what’s happening with Internet Computer reflected in ICP’s price.” The Internet Computer first demonstrated neural networks running as smart contracts in April last year, starting with image classification and later facial recognition, Williams said. While those were relatively simple models compared to large language models - the kind that power AI tools like ChatGPT and Gemini - they were proof of concept: that AI can run natively on a blockchain. No other network has achieved this, Williams pointed out, despite the chatter about “decentralized AI.” Where others rely on off-chain infrastructure like Amazon Web Services, ICP seeks to integrate the full AI development and execution stack on-chain. Williams describes this as “a self-writing internet” - a system where users describe what they want, and an AI delivers it as a working application, hosted directly on Internet Computer. The bigger idea, Williams said, is that AI itself will replace much of today’s developer workflow. – Jamie Crawley Read more.
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