According to the official announcement, Binance Alpha will launch DARK at 8 AM today. Friends with over 200 Binance Alpha points can claim 1000 DARK by spending 15 points. First come, first served! Friends who reach 200 points, set your alarms and grab it in time!
Today, in addition to DARK, CYC (Cycle Network) is also launching. The specific launch time and redemption thresholds have not yet been announced, but the popularity of CYC is exceptionally high, currently dominating the first place in chain trading. Let's first understand this highly popular project!
I. What is CYC?
CYC, short for Cycle Network, is a comprehensive trustless distributed ledger that supports all BTC and EVM networks, allowing developers to create their dApps on a new layer without having to recreate code on different chains. By abstracting accounts, users will no longer need to use private keys or seeds to use DApps, thus reducing the associated gas fees. This allows users to interact and transact across chains and dApps in a trustless, secure, and full-chain environment without bridging.
CYC is a project incubated in the seventh phase of Binance Labs, which includes Cycle Network. The project's technology and team strength are quite outstanding and are viewed positively by outsiders.
II. Functions and Features of CYC
The core features of Cycle Network include:
Decentralized Application Center Infrastructure (DACI): Facilitates the development of decentralized applications and the popularization of Web3.
Omni State Channel Indexer (OSCI): A decentralized multi-chain indexer that enables trustless verification and confirmation of the Cycle ledger state.
Zero-Knowledge Hardware Acceleration: Improves efficiency and scalability by accelerating the generation and verification of zero-knowledge proofs (ZKP) through dedicated hardware.
Fully Homomorphic Encryption (FHE): Allows computations to be performed on encrypted data without decryption, enhancing data privacy and security.
III. Token Economics of CYC
The total supply of CYC is 1 billion tokens, with no inflation. Tokens for the team and investors are released linearly after a 1-year lock-up period to ensure long-term development. At the same time, Cycle stated that it will actively promote RWA projects to achieve cross-chain asset issuance and on-chain yield collaboration, helping Web2 enterprises seamlessly access the multi-chain ecosystem and facilitate the safe and efficient circulation of assets.
IV. Development Team and Financing Information of CYC
The core team members of Cycle Network mainly come from professors and experts at the University of Illinois, University of California, Berkeley, Google, etc., and have been dedicated to the research and development of foundational blockchain technology. The Cycle Network testnet is now live, and interested friends can go and experience it. Remember to apply for test coins from the project team before operating.
Financing information has not yet been announced.
V. Future Development Prospects of CYC
From check clearing to millisecond payments, every infrastructure reconstruction is an upgrade of the value transfer paradigm. In the world of Web3, a true 'popularization storm' never arises from a single protocol or hot narrative, but from the co-evolution of underlying trust and experience. Cycle Network presents a brand new answer at this juncture.
In the future Web3 applications, there will be no more questions of 'on which chain,' instead, it will be as habitual as using electricity or the internet today, just 'it's right there.' That invisible but powerful value conduit is likely called Cycle. The cloud-native era on the chain has already begun.
Overall, I am relatively optimistic about the development trend of CYC. Given the project's mechanism, function, limited total token supply, high market popularity, and its incubation by Binance, I believe that after obtaining it, one can hold it and sell at the right high point.
Finally, I hope everyone can successfully grab CYC!
If you are also a friend who trades cryptocurrencies but often suffers from being trapped, cutting losses, or even liquidation, feel free to contact me for discussion. I am Lantian, a blogger focused on cryptocurrency market analysis, mainly researching spot short-term fluctuations, medium to long-term doubling strategies, precise contract buying and selling point analysis, and unlocking positions! I am committed to being a warm-hearted crypto blogger!