Ethereum Abandons Poseidon, Robinhood Chain Booms with NFT Trading
The Ethereum Foundation announced that it will no longer be advancing Poseidon as the hash scheme for Ethereum L1. Instead, they plan to adopt traditional hash functions such as SHA or BLAKE. This change is due to recent breakthroughs in binary-field-based SNARK design, which enable conventional hash functions to deliver comparable performance to Poseidon.
Robinhood Chain has seen significant growth in NFT trading volume, surpassing Ethereum and becoming the largest network by this metric. The chain's daily NFT trading volume hit $3.13 million last week, with an average of 11.6 million daily transactions. However, daily active accounts only grew by 3.3%.
Hyperliquid is introducing a new feature that will automatically deploy unused HLP cash into the native lending pool to accrue interest. This change marks a shift from the platform's primary function as a market-making and liquidation tool to a multi-strategy vault with automated capital allocation.