Web3 Industry Weekly Report: Highlights from Week 3 of July 2025
1. Technology Headlines
1.1 Ant Financial's blockchain Layer2 platform Jovay testnet is officially launched to accelerate the implementation of institutional-level scenarios such as RWA
On July 15, Ant Financial's Jovay, a blockchain Layer2 platform for institutional application scenarios, announced the launch of the test network and plans to launch the main network in the fourth quarter of 2025. The Jovay released this time focuses on the implementation of RWA scenarios, adopts innovative designs such as parallel execution architecture, zero-knowledge proof (ZKP) and trusted execution environment (TEE), significantly improves performance and compliance scalability, and shortens the transaction delay on the chain to less than 1 second. Jovay will integrate the Ethereum ecosystem (including wallets, oracles, etc.) to provide users with efficient, secure and convenient asset services, and promote Web3 infrastructure to move towards the mainstream financial market.
https://www.techflowpost.com/newsletter/detail_91687.html
1.2 ChainGPT's open source AI tool Solidity LLM is now available on Alibaba Cloud, enabling smart contract development
ChainGPT's open source AI tool Solidity LLM has been officially launched on Alibaba Cloud. Solidity is the core programming language of Ethereum smart contracts, and ChainGPT is a generative artificial intelligence tool focused on blockchain development. This cooperation uses Alibaba Cloud's cloud infrastructure and artificial intelligence platform to provide faster, more reliable, and more secure technical support for smart contract development, aiming to promote the deep integration of blockchain and AI and optimize the developer tool chain to accelerate the innovative development of Web3 applications.
https://www.coinglass.com/zh/news/516370
1.3 RISC Zero Launches Boundless Incentivized Testnet to Create a Universal Zero-Knowledge Protocol
RISC Zero, a zero-knowledge blockchain platform, announced that its zero-knowledge computing marketplace Boundless has been launched on the Base chain mainnet testnet. Boundless focuses on achieving the decentralization of zero-knowledge computing. It introduces the "Proof of Verifiable Work" (PoVW) mechanism to reward miners who participate in the calculation and supports cross-chain collaboration. Boundless promotes the development of security and scalability by avoiding repeated computing tasks and providing efficient verification, data availability and settlement functions for on-chain applications.
https://foresightnews.pro/news/detail/78212
1.4 Bitcoin developers propose anti-quantum migration solution to deal with quantum computing security threats
Bitcoin developer Jameson Lopp proposed a phased quantum migration proposal to enhance the Bitcoin network's ability to cope with the threat of quantum computers. The plan includes three phases: the first phase prohibits sending funds to traditional addresses (addresses using the ECDSA/Schnorr signature algorithm) within three years after the implementation of the BIP-360 proposal, and encourages users to transfer to the quantum-resistant address format P2QRH; the second phase freezes the tokens of traditional addresses and invalidates the legacy signatures; the optional third phase provides a recovery path for frozen assets through zero-knowledge proofs. Quantum computers are expected to threaten Bitcoin encryption security as early as 2027, and this proposal provides a roadmap for dealing with potential risks.
https://foresightnews.pro/news/detail/78288
2. Industry News
2.1 US President Trump signs the GENIUS Act, ushering in a new era of comprehensive regulation of stablecoins
On July 19, US President Trump officially signed the GENIUS Act, becoming the first federal law in US history targeting digital assets. The GENIUS Act establishes a comprehensive regulatory framework for stablecoins, clarifies key terms such as issuance standards, reserve requirements, and prohibition of interest payments, and clarifies that compliant payment stablecoins are not subject to securities regulation. The bill aims to strengthen financial risk management, consolidate the United States' leadership in the global cryptocurrency field, and promote the use of US dollar stablecoins in the global market. It is reported that the industry regards the GENIUS Act as a milestone in the field of digital assets.
2.2 The Ministry of Industry and Information Technology guided the seminar on stablecoins and industrial digital assets to explore new paths for blockchain to empower industrial transformation
The China Industrial Internet Research Institute recently held a seminar on stablecoins and industrial digital assets to explore how stablecoin technology can promote financial innovation and the development of the industrial Internet. Experts at the meeting proposed exploring digital asset pilots and new financing paths through stablecoins to promote the transformation of the manufacturing industry to high value-added models such as "product as a service".
https://www.yinsfinance.com/article/1391651.shtml
2.3 The UK releases a strategy for the digitalization of wholesale financial markets to support stablecoins to drive financial innovation
The British government announced a strategy for the digitalization of wholesale financial markets, which explicitly supports the application of distributed ledger technology and tokenization of financial assets to promote the modernization of the wholesale financial sector. The strategy proposes to explore the compliance and potential of payment solutions including stablecoins through experimental frameworks such as the "Digital Securities Sandbox".
https://www.techflowpost.com/newsletter/detail_91814.html
2.4 TreeGraph public chain 3.0 is about to be launched, focusing on new development needs in the fields of RWA and stablecoins
Xinhua Finance, Shanghai, July 21 (Xinhua) -- From July 18 to 20, the Conflux TreeGraph Technology and Ecosystem Development Conference was held in Shanghai, aiming to explore the technical development and application trends of blockchain and the next generation of the Internet Web3. At the conference, Conflux TreeGraph public chain 3.0 was released to better serve the security and compliance needs in the fields of real world assets (RWA) and stablecoins.
https://m.cnfin.com/gs-lb//zixun/20250721/4271752_1.html
3. In-depth analysis
3.1 Analysis of the GENIUS Stablecoin Act
What are the core provisions of the Stablecoin Act? What potential impact will it bring? This article provides an in-depth analysis of the above questions.
Disclaimer: The information provided in this document is based on publicly available market data and industry trends, and is for reference only. Please note that this information does not constitute any form of investment advice or recommendation, nor should it be considered as the basis for buying or selling any financial products or services. In case of any translation errors in English, inaccuracies, or situations requiring further clarification, please contact us through 'Contact Us' so that we can verify and make necessary corrections in a timely manner.
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