In an extraordinary turn of events, the DoubleZero protocol-a network that seems to have taken a liking to fiber-optic connections-has launched its mainnet-beta, a glorious step forward for the high-speed blockchain world. This Thursday, the grand unveiling was accompanied by the public debut of the ever-important utility token, which, naturally, powers the entire network. 🎉
For those of you not completely versed in the intricacies of blockchain, let it be known that DoubleZero’s decentralized physical infrastructure network (DePIN)-a true marvel of modernity-now boasts over 70 lightning-fast connections between 25 glorious locations. These connections serve to transport blockchain traffic directly, eliminating the pains of latency and, one hopes, the agony of waiting. 🚀
Now, Austin Federa, the esteemed founder of DoubleZero, had quite the observation when he shared his thoughts with CryptoMoon back in May. He explained, with great authority, that the public internet-our beloved yet terribly congested public internet-was simply never designed for high-performance systems. It’s, as they say, quite the bottleneck for crypto. This is hardly a shock when one considers the sheer volume of gaming and media streaming traffic clogging up the pipes, much like a particularly enthusiastic dinner party crowd blocking the hallway. 🙄
“The downside of the public internet is that it was never built for high-performance systems. It was always built for this sort of relationship of one big server talking to one little server.”
Ah, the public internet, so last century. The introduction of DoubleZero’s high-speed communication network dedicated solely to blockchain and crypto is a declaration of independence from this outdated infrastructure. It is a bold new world where the constraints of the public internet are no longer a concern. 😌
SEC Clarifies: No, DePIN Tokens Are NOT Securities (No Drama, Just Blockchain)
In a stunning moment of clarity and sanity, the US Securities and Exchange Commission (SEC) has issued a no-action letter, giving DoubleZero the green light to proceed with their token launch. This is, of course, a rather significant victory for blockchain DePIN networks, and a quiet moment of relief for those who enjoy not being suffocated by unnecessary regulations. 😎
As SEC Commissioner Hester Peirce elegantly put it, “The person who runs a node, provides storage, or shares bandwidth earns a reward. These tokens are neither shares of stock in a company nor promises of profits from the managerial efforts of others.” Truly, the SEC has saved us from the bureaucratic nonsense that might have otherwise held up progress. 🙏
With this proclamation, the SEC has paved the way for the public launch of DoubleZero’s native token, a token that has already enjoyed a rather exclusive closed sale to validators back in April. This move also signals a change in the SEC’s previously less-than-friendly stance on crypto tokens, especially those that don’t neatly fit into the old-fashioned security box. 🎩
One wonders, of course, how this will affect the SEC’s record, which under former Chairman Gary Gensler’s reign, allegedly cost crypto firms over $426 million in litigation costs. What a charming chapter in regulatory history. 📚
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2025-10-02 20:14