Introducing Hoodi: Ethereum’s Innovative New Testnet

Welcome to The Protocol, CoinDesk’s weekly wrap-up of the most important stories in cryptocurrency tech development. I’m Margaux Nijkerk, CoinDesk’s Ethereum Reporter. This article is featured in the latest issue of our weekly newsletter exploring the tech behind crypto, one block at a time. Subscribe to get it in your inbox every Wednesday.

HELLO, HOODI: ETHEREUM WELCOMES A NEW TESTNET

This week, Ethereum developers have launched a new test network named Hoodi, which will play a crucial role in the upcoming “Pectra” upgrade. Scheduled to go live on March 26, if all goes according to plan, this long-awaited upgrade will be deployed to Ethereum’s mainnet approximately 30 days later, as confirmed by the network’s core developers.

Hoodi has been introduced following the challenges faced by previous testnets, Holesky and Sepolia, which encountered issues that prevented them from finalizing properly due to configuration problems. Test networks like Holesky, Sepolia, and now Hoodi are designed to replicate the main Ethereum network, providing developers with a safe environment to test code changes or significant upgrades like Pectra before they are implemented on the mainnet.

Understanding the Importance of Testnets

Testnets are essential in the blockchain ecosystem as they allow developers to experiment without the risk of affecting the main network. By using Hoodi, developers can ensure that the Pectra upgrade is robust and ready for real-world application. This proactive approach helps in identifying potential issues early, ultimately leading to a more stable and secure Ethereum network.

MICROSOFT RAISES ALARM OF MALWARE TARGETING COINBASE, METAMASK WALLETS

In a related development, tech giant Microsoft has issued a warning regarding malware that targets 20 of the most popular cryptocurrency wallets used with the Google Chrome extension. Microsoft’s Incident Response researchers have raised alarms about a new remote access trojan (RAT) known as StilachiRAT. This malware employs sophisticated techniques to evade detection, persist in the target environment, and exfiltrate sensitive data.

Discovered in November 2024, StilachiRAT poses a significant threat as it can steal users’ wallet information and any credentials, including usernames and passwords, stored in their Google Chrome browser. The malware specifically targets widely-used wallets such as MetaMask, Coinbase Wallet, Phantom, OKX Wallet, and BNB Chain Wallet. Although the malware has not been widely distributed, Microsoft has yet to identify the entity behind this threat and has provided mitigation guidelines for current targets, including the installation of antivirus software.

Protecting Your Crypto Assets

As the cryptocurrency landscape continues to evolve, so do the threats that come with it. Users are advised to remain vigilant and take necessary precautions to protect their digital assets. This includes regularly updating security software, being cautious of suspicious links, and enabling two-factor authentication wherever possible.

HALLIDAY RAISES $20M FOR AI PROTOCOL TO ELIMINATE WRITING SMART CONTRACTS FOR DEFI

In another exciting development, the AI-focused blockchain protocol Halliday has announced that it raised $20 million to fund the development of its Agentic Workflow Protocol (AWP). This innovative protocol aims to accelerate the development of decentralized finance (DeFi) applications, eliminating the need for programmers to write smart contracts manually.

The Series A funding round was led by the venture capital giant Andreessen Horowitz’s (a16z) crypto arm. Halliday’s mission is to pioneer the software era of blockchain, enabling developers to build applications in hours rather than years. As stated in an emailed announcement, “With Halliday, you can never write a smart contract again.” This approach could significantly streamline the development process and make DeFi more accessible to a broader audience.

The Future of DeFi Development

The Agentic Workflow Protocol represents a significant leap forward in the DeFi space. By simplifying the development process, Halliday aims to empower more developers to create innovative financial applications, ultimately driving the growth of the DeFi ecosystem.

SAM ALTMAN’S WORLD NETWORK AND RAZER WANT TO DEFEAT GAMING’S BOT PROBLEM

In the gaming sector, Sam Altman’s blockchain project, World Network, is collaborating with gaming hardware firm Razer to combat the persistent issue of bots in video games. Their initiative, “Razer ID verified by World ID,” is a single sign-on mechanism designed to verify real human gamers from automated bots.

This partnership aims to enhance the gaming experience by ensuring that players are competing against real individuals rather than bots, which can disrupt gameplay and diminish the overall experience. By leveraging blockchain technology, World Network and Razer are taking significant steps toward creating a fairer gaming environment.

Enhancing the Gaming Experience

The integration of blockchain technology in gaming is a growing trend, with projects like World Network leading the charge. By focusing on user verification and bot prevention, these initiatives not only improve the integrity of games but also foster a more engaging and enjoyable experience for players.

Conclusion

The developments in the cryptocurrency and blockchain space are moving at an unprecedented pace. With the introduction of Hoodi as Ethereum’s new testnet, the alarming malware threats targeting popular wallets, Halliday’s innovative approach to DeFi development, and the collaboration between World Network and Razer to combat gaming bots, it is clear that the landscape is continuously evolving. Staying informed and proactive is essential for anyone involved in the crypto and gaming sectors.

For more in-depth coverage of these stories and the latest updates in cryptocurrency technology, be sure to check out the original article on CoinDesk.