Co-Founder of Temple Digital Group @temple_ny
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Joined April 2009
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$1b traded on @temple_ny.
Temple Digital Group's trading engine has now processed over $1 billion in volume for the Canton Network.
Dan Simerman retweeted
Wrapped ETH arrives on Canton Network as Temple lists BitSafe’s BETH
@temple_ny, a trading platform on @CantonNetwork, has listed BETH, a wrapped version of ETH issued by BitSafe (@BitSafe_Finance). It’s Temple’s first wrapped ETH product, and its BETH-USDCx market lets institutions move between ETH and dollar liquidity.
To get BETH, users deposit $ETH on the Ethereum network. To get their ETH back, they burn the BETH on Canton. BitSafe already issues CBTC, the first 1:1-backed wrapped Bitcoin on Canton.
Temple Digital Group
Private and compliant financial market infrastructure for the world's institutions on the @CantonNetwork.
Temple Digital Group 🤝 Canton Network
Temple is dominating DEX volumes on Canton.
@Temple_ny’s monthly trading volume surged 141% from just $265M the previous month, to now $641M.
It now accounts for a staggering 57% of @CantonNetwork DEX volumes, rising from just 13%, according to @CertiKCommunity.
Srinath Setty from @microsoft has contributed more to the body of zero knowledge cryptography these last few years than almost anyone.
Always a gift when he publishes his work.
Introducing Magnetar from Microsoft Research, the first zkVM that is: (1) general-purpose (RV64), (2) post-quantum from standard hashes alone (no curves, no lattices, no Poseidon), and (3) built for recursion.
Despite its conservative security, it is the fastest zkVM: 7.2–8.7 MHz on a laptop, 10–39× faster than existing zkVMs across 15 workloads! An optimized version reaches 9.5–12.8 MHz.
Links in the thread below.
Temple Digital Group
Exchange infrastructure native to Canton is scaling.
@Temple_NY's daily spot trading volume has grown roughly 955% since May, from about $2M to over $21M, accelerating after Virtual Orderbooks launched for custom venues.
Full analysis from @KaikoData in this month's newsletter.
Dan Simerman retweeted
Over $1,000,000,000 in trading volume.
Let that sink in.
A high ranking panel member at @Sibos 2026 suggested that we cannot tolerate the fragmentation of liquidity if we want modern capital markets technologies to be adopted broadly.
This is nice in theory, but the “winners” will be the ones who are most comfortable with maximum fragmentation that decreases over time. Large institutions will need to navigate these environments effectively and actively contribute to decreasing fragmentation and supporting protocol standardizations.
But this will take time.
The question is whether there is some literal line that delineates “fragmented” from “fully harmonized” global liquidity across these systems.
30M in volume today on @temple_ny and @CantonNetwork.
Follow along on our stats page: app.templedigitalgroup.com/s…
Lightspeed 2.0 provided @temple_ny with a massive boost in speed, performance and additional transaction bandwidth.
Yesterday our order book experienced its highest day of volume on record!
Embedded Finance is a form of Embedded Decentralization
Embedded Decentralization:
Distributed protocols and applications offered as interoperable microservices in traditional architectures. By leveraging the capabilities of zero knowledge and provable computation, developers can transparently select centralized or decentralized options based on security requirements, ecosystem support, economic composability or trust assumptions.
We should rename Generations to Pulses.
Pulses are humans within a 1-4 year band of development that, because of their external environment and unique chemical makeup, experience reality through a narrow and similar band of media, interfaces and digital intelligences. Biological age will anchor and spread these trends through social pressure and cohesion.
Pulses will be way more dynamic and evolve faster than generations due to the exponential nature of technology, media, and culture.
I don’t think we can assume any longer that a 10-20 year period can accurately characterize a group of people.
Lightspeed 2.0 provided @temple_ny with a massive boost in speed, performance and additional transaction bandwidth.
Yesterday our order book experienced its highest day of volume on record!
Yesterday we released a new version of our Lightspeed matching engine to the public, a significant infrastructure update for Temple and the Canton Network.
With Lightspeed 2.0, our platform can now process over 85 million orders per day, settle 29x more trades per second, and match orders in 3.6ms.
Temple will use the new capacity and bandwidth to onboard more assets, liquidity, and trading accounts in Q4.
To try our new trading experience, please visit our website: templedigitalgroup.com
Canton is truly one of the first Institutional Ecosystems emerging for regulated onchain capital markets.
This week’s summit in New York put the growing Canton economy on full display.
@temple_ny was proud to be part of this significant milestone for the network.
From an unpublished editorial in 2023.
“Designing Zero Knowledge systems Is fundamentally different from architecting and building traditional blockchains. New mental models for decentralized applications and environments are emerging, to the point where the concept of ‘blockchains’ may phase out all together. Zero Knowledge teams may find themselves ‘Thinking in Zero Knowledge’ rather than integrating provable computing technology to existing architectures and ideas. Once this happens, an inflection point in the industry will cause a Cambrian Explosion of Zero Knowledge Networks to appear, networks with drastically different functionality that support greater adoption, connectivity, and usability.
Popular first generation blockchains such as Zcash leveraged early versions of zero knowledge technology to make the network private and secure. Future iterations, such as Mina’s ‘Succinct Blockchain’, leveraged a property called ‘recursion’ that allowed for a consistent block size and better accessibility for small validators. While this implementation of zero knowledge was not private by default, it leveraged properties of zero knowledge for scaling and security.
The paradox is that previous generations of blockchains will bootstrap zero knowledge infrastructure in order for ‘provable computing’ to become mainstream. And yet, these systems will most likely transcend blockchains to become something different all together. The zero knowledge caterpillar does not realize it’s using blockchain as a cocoon to become a beautiful, zero knowledge network butterfly.
Perhaps zero knowledge isn’t just a technology to support more layers of blockchain, but instead a new environment for distributed computing all together.
Once Zero Knowledge matures, it is conceivable that the distinction of ‘layers’ may disappear all together. Instead, teams may find themselves launching novel ‘Zero Knowledge Networks’ that seamlessly interact with one another. These systems will be more application centric, liquidity focused, and abstracted to increase the standardization and adoption of these networks.”
Sounds like $NOCK.
Some Upcoming Blockchain + ZK Predictions And Thoughts For 2025-2026:
1. The Blockchain caterpillar will completely give way to the Zero Knowledge Network butterfly.
2. By the end of the decade we will phase out the term 'blockchain' completely. If we are lucky, they will be replaced by 'Decentralized Networks'.
3. Many L2s fighting for survival will become frameworks to deploy L3s on the winner(s) of the L2 wars.
4. The app sovereignty movement will create a revolt where applications have more power to dictate liquidity and deployment strategies against their layer conterparts.
5. The best applications will behave like L1 ecosystems.
6. Base will seriously consider 'launching' on Bitcoin.
7. Every Ethereum L2 is a Bitcoin L2.
8. Circle will launch something that enables programmability for USDC. They will want to get closer and closer to the application layer.
9. The first 'Reverse Oracle' will appear.
10. The ICO will come back and rebalance the market to enable the old school true ecosystem cults.
11. Multiple 'ZK Eth-aligned projects' will break away from ETH and become protocol agnostic.
12. Multiple 'ZK Eth-aligned projects' will reveal their true intentions: That they are direct competitors with Eth and Solana (they dare not claim to be a competitor to BTC).
13. The winner of the proof wars will win by financializing the proof.
14. Loosers of the proof wars will 'wait for demand and supply to materialize'.
15. Every specialized proof startup today will converge to the realization that they must become something resembling a network, lest they give up too much ground to their competitors who will attempt to do the same.
16. The term Rollup will die.
17. The term Coprocessor will die.
18. Many old L1 protocols may forgo the layer strategy and become layer independent application networks.
19. OP-CAT will be launched in our lifetime.
20. We may have less blockchains, but we will have millions of networks. Call them Virtual Decentralized Networks. VDNs will be an emergant property of blockchain agnostic computation.
21. Liquidity will continue to be a core value proposition and competitive moat, until its not.
22. It's premature to say we are in the 'consumer era' - we need more consumer infrastructure at the application layer.
23. Teams will stop competing on consensus. Simultanously, new species of zk consensus will emerge.
24. There will be hundreds of Bitcoin Metaprotocols and layer 2s.
25. Then there will be less metaprotocols, and no layer 2s. Only Bitcoin and Bitcoin Apps (bApps).
26. Bitcoin L2s will become investors + branded liquidity for the next wave of true Bitcoin programmability.
27. Ethereum will solve the fragmentation crisis.
28. In a zero knowledge/post functional value proposition world, the premium a network commands comes from how its base asset is perceived, not the optimizations they create or technical issues they solve.
29. Applications disembodied from blockchains will tap into liquidity sources from any and all networks.
30. The Proof wars will continue.
31. A great deal of innovation will take place at the intersection of distributed network optimizations and FHE + MPC + ZK. These innovations will upend many notions we have about traditional blockchian architectures and user experience.
32. Embedded Decentralization will be the next battleground for adoption.
33. Teams will feel the odd constraint created by better technological innovations forced within smaller and smaller environments to experiment and compete.
34. ZK will create a class of applications with better ux and that feel more expressive.
35. The next great battleground is within traditional web 2 architectures.
