Welcome to The Protocol, CoinDesk’s weekly wrap-up of the most important stories in cryptocurrency tech development. I’m Margaux Nijkerk, CoinDesk’s Tech & Protocols reporter.

In this issue:

• Ethereum Developer Proposes 6-Second Block Times to Boost Speed
• ZKsync’s Airbender zkVM Proves Ethereum Blocks in 35 Seconds
• Norway Plans Ban on New Crypto Mining Data Centers
• XRP Ledger Brings Token Escrow, Other Upgrades for DEXs in New Release

Network news

NEW ETHEREUM PROPOSAL THAT COULD MAKE THE NETWORK FASTER: Ethereum could soon run twice as fast. That’s according to a new proposal floated by core developer Barnabé Monnot to reduce the network’s slot time from 12 seconds to six seconds, effectively doubling the number of blocks produced per minute. The idea, part of EIP-7782, could be included in the upcoming Glamsterdam upgrade slated for 2026. Proposals or publicly discussed ideas are commonplace in the blockchain world, and may not necessarily move to testing. If implemented, the proposal would reduce time spent across three key consensus steps: block proposals (3 seconds), attestations (1.5 seconds), and aggregation (1.5 seconds). That would shave six seconds off the current 12-second cycle. Faster blocks mean quicker confirmations, fresher on-chain data for wallets and apps, and a more seamless experience for users. — Shaurya Malwa Read more.

ZKSYNC’S NEW PROVER ‘AIRBENDER’: Matter Labs, the developer firm behind the layer-2 network ZKsync, unveiled its new cryptographic prover “Airbender.” A prover is a key component for layer-2s, as it generates zero-knowledge proofs that are then posted to the base layer blockchain (in this case Ethereum) — a crucial process in linking the two chains and ensuring its security. The ZKsync team claims that Airbender is the fastest of its kind, delivering Ethereum block proofs in 35 seconds with a single GPU, outpacing its competitors benchmarks. Having fast speeds can save on transaction fees. “We’re entering fraction of a cent territory which is critical for key use cases, including micropayments, high-frequency trading, and decentralized social,” said Alex Gluchowski, the co-founder of Matter Labs, in an interview with CoinDesk. “Faster proofs unlock faster finality, cheaper apps, and crucially, proofs that can be generated anywhere, not just in massive GPU farms.” — Margaux Nijkerk Read more.

NORWAY PLANS BAN ON NEW CRYPTO MINING DATA CENTERS: Norway’s Labour Party government has revealed plans to impose a temporary ban on any new crypto mining data centers that use energy‑heavy proof‑of‑work systems, per Reuters. The proposed rule could kick in Autumn 2025, if approved, and is aimed at preserving electricity capacity for more productive industries. “Cryptocurrency mining is very power-intensive and generates little in the way of jobs and income for the local community,” said Minister for Digitalization Karianne Tung, adding the move reflects the government’s “clear intention to limit the mining of cryptocurrency in Norway as much as possible.” Norway, with its vast renewable hydropower resources, has long attracted Bitcoin miners seeking low‑cost, clean energy. Companies like Kryptovault have established operations outside Oslo — running data centres up to 40 MW, recycling heat to dry wood or warm nearby buildings. — Shaurya Malwa Read more.

XRP LEDGER RELEASE BRINGS NEW FEATURES AND UPGRADES: RippleX, which supports developers of the XRP Ledger, has released version 2.5.0 of “rippled,” its reference implementation of the network. The new version comes with a string of amendments that expand the network’s functionality and governance tooling. The new amendments are now open for voting according to the XRP Ledger’s amendment process, which enables protocol changes following two weeks of support from more than 80% of trusted validators. The seven amendments include “TokenEscrow,” which enables escrows for IOU and multi-purpose tokens, “Batch,” allowing atomic execution of grouped transactions; and “PermissionedDEX,” which lets DEX operators control participation for regulatory compliance. RippleX has asked validators to upgrade to the latest version as soon as possible to ensure service continuity. The update lands as XRPL continues to evolve into a more flexible, permission-aware platform driven by both DeFi use cases and compliance-conscious enterprise developers. — Shaurya Malwa Read more.

In Other News

• Strategy (MSTR) is currently experiencing its lowest 10-day realized volatility since it first added bitcoin BTC to its balance sheet in 2020, according to Jeff Park, Head of Alpha Strategies at Bitwise Asset Management. Realized volatility refers to the actual historical movement of an asset’s price over a specific period, in this case ten days. It is calculated using past price data and indicates how much the price has fluctuated in reality, as opposed to how much it is expected to fluctuate in the future. In addition to subdued historical price swings, MSTR’s implied volatility (IV) currently sits at 48.33 percent, which is among the lowest levels recorded for the stock in recent years. In addition to subdued historical price swings, MSTR’s implied volatility (IV) currently sits at 48.33 percent, which is among the lowest levels recorded for the stock in recent years. — James Van Straten Read more.
• Crypto exchange Coinbase (COIN) remains one of the most misunderstood companies in the digital assets space, Wall Street broker Bernstein said in a research report. Bernstein raised its Coinbase price target to $510 from $310, and reiterated its “outperform” rating on the stock. The shares Wednesday morning were more than 4% higher at around $360 in early trading. While broader sentiment leans bearish, Coinbase is cementing its role as crypto’s “universal bank,” and is bridging retail, institutional, and on-chain infrastructure at a scale unmatched by peers, the report said. — Will Canny Read more.

Regulatory and Policy

• Top U.S. senators have shared an outline of rules for domestic crypto markets, releasing a set of principles as they prepare to further hash out their intentions in an afternoon hearing. The crypto industry is excited about the recent progress of stablecoin legislation, but the legislation to set up the structure of fully regulated crypto activity is what the sector is most urgently awaiting. The chairman and three other Republicans on the Senate Banking Committee offered this framework, representing half of the team that would need to eventually clear a bill, which also must pass through the Senate Agriculture Committee. — Jesse Hamilton Read more.
• Texas has become the first U.S. state to create a publicly-funded, stand-alone bitcoin reserve after Governor Greg Abbott signed Senate Bill 21 into law over the weekend. The bill directs the state to establish a bitcoin reserve managed independently from the main treasury, joining a small but growing group of states exploring digital asset reserves. Unlike Arizona and New Hampshire, which passed similar legislation, Texas did not just authorize the reserve but is actively funding it. The state will be appropriating $10 million in order to purchase bitcoin for the reserve. — Tom Carreras Read more.

Calendar

• June 24-26: Permissionless, Brooklyn
• June 30-July 3: EthCC, Cannes
• July 16-18: Web3 Summit, Berlin
• Sept. 22-28: Korea Blockchain Week, Seoul
• Oct. 1-2: Token2049, Singapore
• Nov. 17-22: Devconnect, Buenos Aires
• Dec. 11-13: Solana Breakpoint, Abu Dhabi
• Feb. 10-12, 2026: Consensus, Hong Kong
• May 5-7, 2026: Consensus, Miami