Blockchain project updates: Robinhood Chain’s $3.13M NFT volume overtakes Ethereum
Ethereum’s core cryptography is getting an overhaul, Robinhood’s own blockchain just outpaced Ethereum on a key metric, and a fresh security study caught more than a dozen crypto payment providers, including Coinbase, breaking their own rules. This week’s roundup of blockchain project updates spans everything from a quiet cryptographic pivot at the Ethereum Foundation to a governance shake-up at ENS and a stablecoin that has lost 95% of its supply since spring.
Key takeaways
- The Ethereum Foundation is dropping the Poseidon hash function for Ethereum’s Layer 1 roadmap, shifting to SHA or BLAKE ahead of a 2027-2028 rollout tied to post-quantum security.
- Robinhood Chain’s daily NFT trading volume hit $3.13 million, overtaking Ethereum, while its TVL jumped 32% weekly to $473 million even as active accounts grew just 3.3%.
- Hyperliquid will auto-deploy idle HLP cash into a native lending pool, Uniswap is routing test-token fees into a buy-and-burn contract, and Jupiter launched Lend v2 on Solana.
- ENS DAO formally created the ENS Foundation, with an executive director and five-member board now overseeing governance beyond protocol development.
- A USENIX security study found all 15 tested x402 payment providers, including Coinbase, violated at least one security rule, while MegaETH’s USDm stablecoin supply collapsed from $600 million to roughly $18 million.
Ethereum Foundation Shifts Hash Scheme for L1 Security
The Ethereum Foundation is walking away from Poseidon, the hash function it built specifically for zero-knowledge proof systems, in favor of established options like SHA and BLAKE. Ethereum Foundation researcher Justin Drake announced the decision, framing it as the payoff of what he called an “8-year, 8-figure rabbit hole” in post-quantum cryptography, and wrote on X that the move “unlocks ultimate security for lean Ethereum.”
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