Anatoly Yakovenko, the Solana Labs co-founder has proposed a new data availability (DA) solution to improve persistent fragmentation and lack of interoperability across blockchain networks.
According to Cointelegraph, in a May 12 post on X, Yakovenko proposed a “meta blockchain” to aggregate and order data posted across multiple layer-1 chains, including Ethereum, Celestia and Solana.
Yakovenko said, “This would actually allow the meta chain to use the cheapest currently available DA offer.”
Data availability layers are third-party solutions ensuring that blockchains have the necessary data to validate transactions.
The interoperability of Blockchain is one of the most pressing issues for Web3 developers, since today’s siloed layer-1 (L1) blockchain networks have no means of communicating or exchanging data, which creates a need for crosschain interoperability solutions like DA layers.
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Other leading blockchains are also focused on improving DA solutions. Ethereum’s upcoming Fusaka upgrade, expected in late 2025, will focus on scaling the Ethereum mainnet’s capacity as a DA layer by introducing EIP-7594.
Crypto execs cheer as Australia appoints pro-crypto assistant minister
The newly reelected government in Australia has named pro-crypto politician Andrew Charlton as assistant minister for the digital economy, artificial intelligence and other emerging technologies. The country's crypto industry has expressed positivity towards the decision.
In a May 12 press conference, Prime Minister Anthony Albanese told reporters in Canberra that Charlton would be the new assistant minister for science, technology and the digital economy, working with Tim Ayres, the minister for industry and innovation.
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According to Albanese, the Ayres and Charlton will administer policies and programs promoting advancements in emerging technologies, science, technology, innovation and the digital economy.
Charlton has shown strong support for the industry in the past.
Speaking to Cointelegraph, Jason Titman, CEO of Australian crypto exchange Swyftx, said Charlton’s appointment is “unequivocally good news for crypto in Australia,” and he expects the “blockchain industry is cheering.”
Titman said, “Andrew has a deep understanding of blockchain, coupled with a genuine belief in its potential to support the Australian economy.”
Tether Gold enters Thailand with a listing on the Maxbit exchange
The issuer of the world’s largest stablecoin, Tether, USDt, is rolling out its tokenized gold digital asset in Thailand with a listing on local cryptocurrency exchange Maxbit.
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In an announcement on May 13, Tether said its gold-backed token, Tether Gold (XAUt), has been listed on Thai exchange Maxbit.
The platform is the first in Thailand to offer a “tokenized gold pair backed by physical gold, according to an X announcement by Maxbit.”
Tether Gold is a gold-backed digital asset with a market cap of $802 million, with each XAUt representing ownership of one troy ounce of gold.
