Block Inc. Surpasses Coinbase in Market Value After Barclays Raises Price Target

SUMMARY

Coinbase’s stock experienced a bearish week, causing it to fall behind Block Inc., the company behind Square, in market capitalization.
Barclays revised its price target for Coinbase from $206 to $169 but upgraded its rating from “Underweight” to “Equal Weight” on Friday.

Fractal Bitcoin, an exceedingly expected scaling solution supported by wallet provider Unisat, has formally launched its mainnet. This solution works specifically on the Bitcoin Core codebase, offering a particular approach to scaling that sets it apart from other frameworks that depend on Ethereum Virtual Machine (EVM) compatibility. By centering exclusively on Bitcoin-native builds, Fractal Bitcoin aims to improve the network’s functionality, notably through the integration of the OP_CAT opcode.

The mainnet launch takes after a period of rigorous testing that started in July 2024. The project highlights its capacity to confirm blocks in under 30 seconds, which speaks to its proficiency. Moreover, Fractal Bitcoin supports a 20-fold increment in capacity per layer utilizing recursive layering, a procedure that permits it to accommodate Bitcoin protocols such as BRC-20, Runes, and Ordinals. A decentralized exchange named PizzaSwap has also been introduced on the mainnet, offering clients advanced functionality. The project’s inventive “Cadence Mining” structure combines permissionless mining with Bitcoin’s merged mining, upgrading the security of the network.

Led by Unisat and Block Space Force, the project has earned attention for its profound integration with Bitcoin’s core principles. The commitment to a Bitcoin-native scaling arrangement, rather than depending on sidechains or external frameworks, is a key differentiator. This guarantees that the network remains genuine to Bitcoin’s foundational properties whereas progressing scalability. Highlights such as recursive layering and OP_CAT integration further demonstrate the project’s potential.

The mainnet launch moreover incorporates the introduction of the native token FB, with a total supply of 210 million tokens. Half of these tokens are assigned for proof-of-work mining, while the remaining half has been pre-mined for allocation to core supporters, investors, the ecosystem treasury, and community grants.

Fractal Bitcoin presents an exciting advancement in Bitcoin scaling, showcasing a one-of-a-kind solution that remains genuine to the Bitcoin core. With developments like Cadence Mining and recursive layering, the project is poised to make noteworthy strides in progressing the scalability and security of the Bitcoin network.