🌟Hey there, PoI readers! 🎉

Welcome back to another exciting edition of Proof of Intel (PoI)! Mochi here, ready to serve up the hottest stories from the world of tech and web3. From Telegram's blockchain ambitions to Diddy's alleged NFT scandal, we've got a lineup that will keep you on the edge of your seat. So, let's jump right in and explore the latest developments shaping our digital future!

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🟧 Telegram's Mini Apps, built on The Open Network (TON) blockchain, could be the key to bringing 500 million users onto the blockchain by 2028, according to TON investments director Justin Hyun.

🟧 Merkle Manufactory, the company behind the decentralized social network Farcaster, is set to close a new funding round led by Paradigm, raising its valuation to over $1 billion.

🟧 A U.K. court has approved the freezing of $8.4 million of Craig Wright's assets to prevent him from evading court expenses after a verdict debunked his claim to be Bitcoin founder Satoshi Nakamoto.

🟧 An NFT listing claiming to have 13,000 files and 3 terabytes of "controversial" private footage and photos of Diddy has surfaced on a crypto exchange website, with a starting price of nearly $1.5 million.

Telegram's Mini Apps: The Trojan Horse for Mass Blockchain Adoption

Justin Hyun, the director of investments at TON Foundation, in a recent interview at Cointelegraph shared his insights on how Telegram's Mini Apps could be the "Trojan horse" for mass blockchain adoption. These blockchain-based mini-decentralized applications (DApps), launched in partnership with TON Foundation and Tencent, aim to create a user-friendly super-app platform within the Telegram messaging app.

Hyun believes that bringing the next 500 million users on-chain will require simple initial use cases where users aren't necessarily aware of the underlying blockchain interaction. He states, "We believe mass adoption really comes in the form of simple use cases in the beginning, and then there will be drop-offs of more sophisticated users going into different types of use cases."

Telegram, the world's third-largest messenger app by monthly downloads, boasts over 900 million monthly active users worldwide. The platform recently launched its advertising platform on Feb. 28, which will use the TON blockchain for payments. Starting this month, Telegram channel owners in over 100 countries can start receiving financial rewards for their work, with 50% of the total advertising revenue generated by Telegram from displaying ads in their channels.

To further support the ecosystem, TON launched a $115 million community incentive program on March 20, allocating funds for token mining, user incentives, airdrops, developer ecosystem support, and liquidity pool boosts.

Telegram's Mini Apps, built on the TON blockchain, could be the key to mass blockchain adoption by offering simple, user-friendly DApps within the messaging app.

With over 800 million monthly active users and a new advertising platform, Telegram is poised to bring the next 500 million users on-chain by 2028.

Farcaster's Parent Company Merkle Manufactory Reaches Unicorn Status with Paradigm-Led Funding

Merkle Manufactory, the parent company of the decentralized social network Farcaster, is on the cusp of achieving unicorn status. According to a Bloomberg report citing sources familiar with the matter, the company is closing a new funding round led by crypto investment firm Paradigm, which is set to propel its valuation to the coveted $1 billion mark.

Co-founded in 2020 by former Coinbase executives Dan Romero and Varun Srinivasan, Merkle Manufactory's flagship product is the social media application Warpcast, built on top of the decentralized network for social media apps, Farcaster. The company previously raised $30 million from venture capital firm a16z crypto in July 2022.

Farcaster has witnessed a significant surge in user activity since January, following the introduction of Frames – a feature that allows apps to run inside posts without users having to leave the platform. This innovative addition enables users to mint NFTs, perform transactions, access external blog posts, and respond to surveys directly within the app. As a result, the number of daily active users on the Farcaster network skyrocketed from around 5,000 on Jan. 28 to over 249,000 on March 30, according to data from Dune Analytics.

Decentralized social media platforms like Farcaster represent a new class of networks that leverage blockchain technology to offer users ownership over their data, content, and interactions, moving away from the centralized control seen in traditional social media. While these platforms face challenges in user retention, the success of Farcaster and the backing of prominent investors like Paradigm demonstrate the growing interest and potential in this sector.

Merkle Manufactory, the company behind Farcaster, is set to reach a $1 billion valuation with a new funding round led by Paradigm

The decentralized social network has seen a significant increase in user activity following the introduction of the Frames feature, showcasing the growing potential of decentralized social media platforms.

U.K. Court Freezes $8.4 Million of Craig Wright's Assets Following False Satoshi Nakamoto Claim

United Kingdom court has given the green light to freeze 6.7 million British pounds ($8.4 million) of Craig Wright's assets. The decision comes in the wake of Wright's attempt to transfer some of his assets outside of the U.K. following a court verdict that disproved his claim to be Satoshi Nakamoto, the enigmatic founder of Bitcoin.

According to a U.K. court document, Wright's move to shift shares of his London firm, RCJBR Holding, to a Singaporean entity on March 18 raised serious concerns for the Crypto Open Patent Alliance (COPA). Judge James Mellor stated, "Understandably, that gave rise to serious concerns on COPA's part that Dr Wright was implementing measures to seek to evade the costs and consequences of his loss at trial."

COPA, founded in 2020 to foster the adoption and advancement of cryptocurrency technologies and remove patents as a barrier to growth and innovation, filed a lawsuit against Wright in April 2021, contesting his claims. The alliance boasts an impressive roster of 33 members, including industry giants like Coinbase, Block, Meta, MicroStrategy, Kraken, Paradigm, Uniswap, and Worldcoin.

Wright, an Australian computer scientist, has a history of making false claims and taking legal action against prominent Bitcoin contributors. In 2023, he sued 13 Bitcoin Core developers and a group of companies for copyright violations relating to the Bitcoin white paper, its file format, and database rights to the Bitcoin blockchain. The Bitcoin Legal Defense Fund has highlighted the trend of abusive lawsuits deterring development due to the associated time, stress, expenses, and legal risks.

The Bitcoin white paper, now subject to an MIT open-source license, allows anyone to reuse and modify the code for any purpose, further solidifying the decentralized nature of the cryptocurrency.

A U.K. court has frozen $8.4 million of Craig Wright's assets to prevent him from evading court expenses after his false claim to be Bitcoin founder Satoshi Nakamoto was debunked.

The decision follows Wright's attempt to transfer assets outside the U.K. and highlights the ongoing legal battles surrounding the Bitcoin white paper and its open-source nature.

Alleged "Controversial" Private Footage of Diddy Surfaces as NFT, Listed for $1.5 Million

It feels like Diddy's ongoing legal drama, has a new twist which emerged in the form of an NFT listing that claims to possess a treasure trove of the mogul's most private moments. The listing, found on a crypto exchange website, boasts 13,000 files and 3 terabytes of content, including unreleased and never-before-seen footage and photos of Diddy in various locations, allegedly engaging in "very controversial things."

The NFT is currently listed at 425 wETH (Wrapped Ethereum), which equates to a staggering $1.5 million or the highest bid. The description of the content has piqued the curiosity of fans and critics alike, who are eager to uncover what the Bad Boy Records founder has been up to behind closed doors.

This development comes on the heels of a tumultuous week for Diddy, as Homeland Security raided two of his mansions on Monday (March 25) as part of a federal human trafficking investigation. Furthermore, new details emerged from Rodney "Lil Rod" Jones' lawsuit against the mogul, accusing him of involvement in drug trafficking and sexual assault. Diddy aka Sean Combs has vehemently denied all allegations.

Despite the controversy swirling around him, Diddy appears to be shockingly unbothered, as he was recently spotted at a Miami cafe with Stevie J and at Top Golf with his twin daughters, flashing peace signs at onlookers. TMZ's team has reached out to Diddy's representatives for comment, but as of yet, there has been no response.

An NFT listing claiming to have "controversial" private footage and photos of Diddy has surfaced, with a starting price of $1.5 million.

This development comes amidst ongoing legal troubles for the mogul, including a federal human trafficking investigation and accusations of drug trafficking and sexual assault, which he denies.

Despite the controversy, Diddy remains unbothered, spotted enjoying time with family and friends in Miami.

And there you have it, folks – another mind-bending edition of Proof of Intel wrapped up! We've covered some truly remarkable stories, showcasing the incredible potential and challenges of the tech and web3 landscape. As always, we'd love to hear your thoughts on these developments. Share your opinions and predictions with us, and let's keep the conversation going.

Until next time, stay curious, stay informed, and keep riding the wave of innovation with Proof of Intel. Mochi, signing off!

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