ZK Tech Booms: Developers Must Consider User Safety

• Zero Knowledge proofs (ZKPs) offer robust security and scaling for the latest crypto products.
• ZK technology can be used to process transaction data off-chain, enhancing data efficiency and bringing a potential end to the blockchain trilemma.
• In recent months, ZK tech has gone from a relative niche to a cornerstone of Web3 infrastructure.

What are Zero Knowledge Proofs?

Zero Knowledge proofs (ZKPs) are cryptographic mechanisms that verify data without revealing any information beyond that necessary to prove the veracity of the data. This makes them an ideal component in privacy protocols and digital IDs where data privacy is critical. In the context of blockchain scaling, however, ZKPs can be used in conjunction with rollups to process transaction data off-chain and generate a compact proof to confirm validity – greatly enhancing data efficiency and bringing a potential end to the blockchain trilemma.

The Emergence of ZK Tech

Thanks to its unbounded potential across a myriad of services, In recent months, ZK tech has gone from a relative niche to a cornerstone of Web3 infrastructure. From tackling the scaling crisis to bolstering privacy, and even securing one of Web3’s most exploited attack vectors via trustless cross-chain bridges, ZK technology offers far more than many appreciate at this juncture.

Considerations for Developers

OpenZeppelin’s Stephen Webber writes about how developers could build more secure ZK proofs as it continues booming in crypto space: developers must consider user safety when building new products with zero knowledge proofs as there will be no way of knowing what hidden vulnerabilities their product may contain without proper testing or security measures in place.

Benefits of Zero Knowledge Technology

The emergence of zero knowledge (ZK) cryptography promises to transform the way blockchains process, encrypt and share data by offering powerful solutions that address most formidable scaling challenges while maintaining maximum security and decentralization – eliminating issues inherent with blockchain systems like inability to expand without sacrificing security or decentralization – popularly known as “blockchain trilemma” .

Conclusion

In conclusion, zero knowledge proofs have become increasingly popular within crypto space due its numerous benefits such as enhanced security & scalability, ability to process transactions quickly & efficiently while maintaining maximum privacy & decentralization which solves most problems associated with traditional blockchains systems like inability for expansion etc… With this technology continuing to boom , it is important for developers & users alike consider user safety when building or using new products with zero knowledge proofs so they don’t get exploited by hidden vulnerabilities .

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: Filecoin’s FIL Token Rockets 18% Ahead of Network Upgrade

• Filecoin’s FIL token has gained 18% ahead of a network upgrade scheduled for Tuesday.
• The upgrade will allow users to perform more functions on the platform and introduce smart contracts.
• The wider crypto industry has struggled over the last month, with market cap dropping below the $1 trillion mark.

Filecoin’s FIL Token Gains 18%

Filecoin’s native token FIL is rallying in the lead-up to a network upgrade that would make the storage network programmable. FIL reached a high of $6.20 on Monday, up 18%, according to CoinDesk data. This put the token up 15% for the month compared to Bitcoin (BTC) and Ether (ETH), which have risen just 1% and 3%, respectively this month.

Network Upgrade Scheduled for Tuesday

The Filecoin Virtual Machine (FVM) Network Upgrade is set to go live on Tuesday at 15:14 UTC. The software platform will introduce smart contracts and enable developers to design decentralized applications on the Filecoin network. It will also unlock more uses from being able to store, transfer, and manage digital assets across multiple chains simultaneously.

Wider Crypto Industry Struggles

The wider crypto industry has faced difficulties over the last month, with overall market cap dropping below the $1 trillion mark. This could be due to increasing competition between different blockchains as well as regulatory uncertainty surrounding cryptocurrency exchanges in many countries around the world.

What is Filecoin?

Filecoin went live on its mainnet in October 2020 and enables users to rent out spare storage space on their computer which rewards them for helping store files and retrieving them when necessary. It is an open-source protocol which allows anyone in any part of the world can participate in a secure market for computing resources or offer services such as data storage or content delivery networks without relying upon any central authority or company operating a server farm somewhere else in the world.

Conclusion

It appears that Filecoin’s native token FIL is gaining traction ahead of its upcoming FVM Network Upgrade due to its potential use cases once it launches next week, while other cryptocurrencies are struggling due to increased competition and regulatory uncertainty worldwide

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Near Protocol Launches Blockchain Operating System for Seamless User Experiences

Near Protocol Launches Blockchain Operating System

  • Near Protocol has launched a product-first operating system that developers can build into and users can interact on as a single platform.
  • The platform is intended to act as a common layer for browsing and discovering Web 3 products, such as crypto exchanges, non-fungible token (NFT) galleries and social networks.
  • The Near protocol currently ranks as the 35th largest blockchain in terms of market capitalization, with a market cap of around $1.96 billion.

Focus on User Experience

Near Protocol’s newly launched product-first operating system focuses on user experience. Developers can build the platform into their applications and users can interact on it as a single platform. The goal of the framework is to provide a common layer for browsing and discovering Web 3 products such as crypto exchanges, non-fungible token (NFT) galleries, and social networks. In addition to this, developers have access to built-ins such as profiles, payments, notifications, searching and more without needing to host anything themselves.

Compatibility With All Blockchains

The new operating system will be compatible with all blockchains including Near Protocol and Ethereum Virtual Machine chains. Near will act as the common entry point for these different platforms allowing users to easily move between them without having to manage multiple wallets or accounts. This allows users access to a wide range of Web 3 products under one umbrella while maintaining security through its blockchain infrastructure.

Market Capitalization

At the time of writing, Near Protocol ranked as the 35th largest blockchain in terms of market capitalization with a total value of around $1.96 billion USD. Its NEAR token was trading at around $2.28 each according to data from Messari.

“Composable Decentralized Front Ends”

Polosukhin also spoke about what he termed “composable decentralized front ends” that offer developers an opportunity to build better apps faster by leveraging existing components while still maintaining control over their own codebase.. He noted that this framework could work with any Web 2 or Web 3 back end along with any wallet which would allow seamless bridging between different blockchains in future updates.

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DeFi Protocol Platypus Repays 63% of Funds Lost in $9M Hack

• Platypus Finance, a decentralized-finance (DeFi) protocol for stablecoins, will repay at least 63% of funds to users after it managed to recover a part of the $9 million drained from the protocol last week.
• The exploit consisted of three consecutive attacks, which resulted in the draining of $8.5 million in stablecoins and the transfer of $380,000 worth of assets to lending protocol Aave.
• Platypus worked with crypto exchange Binance and blockchain security firm BlockSec to identify the exploiter responsible for last week’s attack and recover funds.

Platypus Finance Hacked for $9M

Last week, Platypus Finance, a decentralized-finance (DeFi) protocol for stablecoins was hacked for $9 million. The attack exploited a bug in the platform’s solvency check mechanism and caused its native stablecoin USP to lose its dollar peg.

Protocol Repays At Least 63% Of Funds

In response to the attack, Platypus Finance announced that it would repay at least 63% of user funds after managing to recover some part of the stolen money. The DeFi protocol also revealed that it had identified the attacker by working with crypto exchange Binance and filing a complaint with law enforcement in France.

Exploit Consisted Of Three Attack

The exploit consisted of three consecutive attacks which drained a total amount of $8.5 million in different types of stablecoins such as Circle’s USDC, Tether’s USDT, Maker’s DAI and Paxos’ binance USD from the platform’s main pool. Additionally, another sum worth around $380k was mistakenly transferred to Aave Lending Protocol during one of these attacks.

Security Firm & Crypto Exchange Work With Platypus To Recover Funds

Platypus Finance recovered about $2.4 million worth USDCs through assistance from blockchain security firm BlockSec while Tether froze an additional sum amounting up to 1.5 Million USDT tokens belonging to hacker’s address wallet on their network . Lastly, Platypus had submitted a proposal on Aave Governance Forum seeking release permission from them regarding their tokens transferred mistakenly due to malicious intent or hack attack against them..

Conclusion

In conclusion , this is yet another example showing how hackers are still able to find loopholes even within secure protocols like DeFi platforms based on Avalanche networks . However , thanks to efforts made by both industry participants and authorities , we can see that most protocols are now better equipped with measures aimed towards preventing these kinds malicious activities or helping out recovery process after their occurrence .

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TRU Token Rallies Over 200% After Binance’s TUSD Spark Speculation

• TRU Token, the governance token of decentralized lending protocol TrueFi, surged 220% on Thursday.
• The rally appears to be from traders mistakenly connecting TRU with TUSD, a stablecoin issued by TrueFi in the past but no longer is.
• The speculation was sparked by Binance minting $50 million worth of TrueUSD (TUSD) stablecoin.

TRU Token Rallies Over 200%

The TRU token, the governance token of decentralized lending protocol TrueFi, surged 220% on Thursday in an hour, according to CoinMarketCap data. Traders appeared to be mistakenly connecting the TRU token with TUSD, a stablecoin that had been issued by TrueFi in the past but no longer is.

Binance Sparks Speculation

The speculation was sparked by Binance minting $50 million worth of TrueUSD (TUSD) stablecoin, according to blockchain data. This led traders to speculate about TUSD potentially gaining a larger role in trading on Binance after the regulatory crackdown on the Paxos-issued Binance USD (BUSD).

TrueFi and TrustToken Separated

However, this speculation about the TRU token appears to be misplaced because TrustToken sold TUSD last year and became known as Archblock. At the same time, TrueFi embarked on a road to decentralize its platform and separate from TrustToken/Archblock.

TRU Surges But Later Pares Gains

TRU surged as high as 14.6 cents from 4.4 cents on Binance before later paring some of the gains and trading at around 11 cents at press time. Meanwhile Paxos announced it would halt minting BUSD on orders due to regulatory uncertainties surrounding it operation.

Conclusion

In conclusion, while speculation over a potential role for TUSD trading may have sparked the rally in TRU tokens they were otherwise unrelated events since their issuers were already separated before this news broke out.

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Unlock Financial Planning with AI and Blockchain: Get Ahead of the Curve

The Future of Financial Planning Lies in AI and Blockchain

  • AI and blockchain could assist in decisions involving investments, taxes and insurance, and open new avenues for income.
  • Tokens utilizing artificial intelligence technology have been on a rise recently, as tech giants like Google and Microsoft are entering the space.
  • The integration of blockchain and AI technology in financial planning holds immense potential for efficiency, accuracy and security.

Benefits of Blockchain & AI Integration

AI algorithms could analyze vast amounts of data to assist in making informed decisions regarding investments, taxes and insurance. The algorithms could make real-time adjustments to financial plans, automate updates to plans based on changing legislation and reduce the risk of errors and fraudulent activities – all while ensuring data privacy.

Potential Applications

In addition to portfolio construction, the potential applications for blockchain & AI include streamlining KYC/AML processes; developing smart contracts; creating digital wallets; automating tax filings; optimizing trading strategies; generating automated reports; conducting market analysis; providing insights into customer behavior & preferences; enabling secure payments & transfers without intermediaries; creating digital identities with biometric authentication;and much more.

Challenges Ahead

Despite its potential benefits, there are still several challenges that need to be addressed before the full integration of these technologies can be realized. These include regulatory hurdles, scalability issues, lack of standardization across platforms or protocols, difficulty in verifying large datasets & transactions securely, inadequate education about the technology among consumers & businesses alike, as well as high cost associated with deploying such solutions.

Role of Financial Advisors

Despite this revolutionary technology taking center stage in financial planning industry , financial advisors will still continue to play a vital role when it comes to providing expert advice on investments ,taxes ,insurance etc . They will also be responsible for guiding clients through the ever changing regulatory framework , helping them navigate complex markets ,and understanding their individual requirements .

Conclusion
In conclusion ,it is safe to say that while technological advancements like blockchain & AI offer great promise when it comes to simplifying processes within financial planning industry ; they should not replace traditional roles played by financial advisors who bring invaluable insight into decision making process .

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Coinbase Wins Dismissal of Class Action Lawsuit

• U.S. District Court Judge Paul Engelmayer has dismissed a proposed class action lawsuit brought against Coinbase by customers who alleged that Coinbase sold them unregistered securities and failed to register as a broker-dealer.
• The judge determined that the plaintiff’s claims contradicted their initial complaint and thus could not be sustained.
• This dismissal is a victory for Coinbase, however, the company is still facing other class action cases in various states.

A U.S. District Court Judge has dismissed a proposed class action lawsuit against Coinbase, the publicly-traded U.S.-based crypto exchange. The lawsuit was brought forward by customers who accused Coinbase of selling them unregistered securities and also failing to register as a broker-dealer.

The case, Underwood vs. Coinbase Global, was filed in the Southern District of New York. Coinbase CEO Brian Armstrong was also named as a defendant. Judge Paul Engelmayer presided over the case and ultimately decided to dismiss the claims after finding that the plaintiff’s claims in their amended complaint contradicted their initial complaint.

Though the dismissal of this case is a victory for Coinbase, the exchange is still facing other class action cases in various states, including Georgia, California, and Massachusetts. These lawsuits allege that Coinbase committed fraud, negligence, and other misdeeds in connection with its operations.

Coinbase has denied any wrongdoing, and has argued that the lawsuits are without merit. The company also maintains that it is compliant with all applicable laws and regulations. Coinbase has been actively defending itself against the various lawsuits and is fighting for a dismissal of each case.

In the meantime, Coinbase has continued to expand its operations, launching new products and services, and growing its customer base. The company recently went public on the Nasdaq stock exchange and has seen its valuation soar to over $100 billion.

Coinbase has also joined forces with other leading crypto exchanges, such as Kraken and Binance, to form the Crypto Rating Council. This council aims to provide clarity on the regulatory status of digital tokens and to create a standardized method of evaluating digital assets.

With the dismissal of the Underwood class action lawsuit, Coinbase has taken a positive step in its fight against the other class action lawsuits. However, the company still faces the challenge of defending itself in the other cases, and the ultimate outcome of these lawsuits remains to be seen.

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UK Commits to Working with Crypto Industry to Create Post-Brexit Laws

• UK Financial Services Minister Andrew Griffith has committed to engaging with the crypto industry to develop new post-Brexit laws.
• He plans to hold six roundtable talks with the sector in 2023 to ensure timely, sensible, and balanced regulation of the technology.
• Griffith believes this will ensure regulatory clarity and facilitate investments in financial technology.

UK Financial Services Minister Andrew Griffith has recently outlined his plans to engage with the crypto industry to develop new post-Brexit laws. This commitment comes after Prime Minister Rishi Sunak declared his hopes to make the UK a crypto hub.

During a parliamentary debate on Wednesday, Griffith said he plans to hold six roundtable talks with the sector in 2023. He believes this is the best way to ensure timely, sensible, and balanced regulation of the technology. This will also ensure regulatory clarity and facilitate investments in financial technology.

Griffith went on to criticize regulators for being too slow in the past in responding to developments in the crypto industry. He was also keen to express his confidence in the sector, particularly in terms of its potential for innovation. He believes that the UK should be at the forefront of this innovation, and that the government should take a balanced approach to regulation.

Griffith’s commitment to engaging with the crypto industry has been welcomed by many, who are hopeful that this will lead to a better understanding of the sector and more openness to innovation. The UK has already established itself as a leader in the crypto sector, and this move is likely to help maintain its position.

The six roundtable talks that Griffith has proposed will be an important step in understanding the sector and establishing how it should be regulated. It is expected that these talks will take place throughout 2023, following which, the UK government will then be able to establish legislation that will ensure regulation is balanced and supportive of innovation.

Although the consultation on how to govern the financial technology is overdue, Andrew Griffith’s commitment to engaging with the crypto industry is a positive step towards establishing new post-Brexit laws. The six roundtable talks will help to ensure regulatory clarity and facilitate investments in financial technology, and the UK may be able to maintain its position as a leader in the sector.

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Shibarium: An Ethereum-Based Layer 2 Network for Fast & Cheap Transactions

• Upcoming layer 2 network Shibarium is expected to launch in the coming weeks, aiming to solve the problems of scalability, speed and expense.
• Shibarium will have a focus on metaverse and gaming applications, as well as a cheap settlement for decentralized applications built on the network.
• Tokens shiba inu, leash and bone will serve as the the upcoming Ethereum-based blockchain.

The Shiba Inu Developers are excited to present the first look of the Layer 2 Blockchain Shibarium Ecosystem. Shibarium is an upcoming layer 2 network built on top of the Ethereum blockchain, designed to improve scalability, speed and reduce transaction fees. This will be achieved through a set of off-chain solutions that bundle multiple off-chain transactions into a single layer 1 transaction.

The Shibarium Ecosystem will be backed by three tokens – Shiba Inu (SHIB), Leash (LEASH) and Bone (BONE). Each of these tokens will have different functions and use cases, however, they will all be powered by the Shibarium Ecosystem. Shiba Inu (SHIB) is a meme coin based on the shiba inu dog breed, which was started as a joke in 2021. Leash (LEASH) will be used as a governance token and will enable holders to vote on network upgrades, while Bone (BONE) will be used as a staking token to provide additional liquidity to the network.

The Beta Testnet for Shibarium is expected to launch in the coming weeks and is expected to provide a number of benefits to users. These include faster transaction speed and lower fees, as well as support for a range of applications, including metaverse and gaming applications. In addition, the Shibarium Ecosystem will also provide a cheaper settlement for decentralized applications (dapps) built on the network.

The Shiba Inu Developers are confident that Shibarium will be a leading layer 2 network in the industry. The team are committed to providing users with an efficient, secure and user-friendly network, and are confident that Shibarium will provide a great experience for users. The team hope that Shibarium will become a leading layer 2 network in the industry and are committed to providing users with the best possible experience.

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Bitcoin’s Bull Revival: 180-Day Call-Put Skew Crosses Zero, Price Expectations Soar

• The long-term sentiment has turned bullish with bitcoin showing its biggest weekly percentage gain in two years.
• Bitcoin’s 180-day call-put skew has crossed above zero for the first time since the start of 2021, indicating that bullish call options expiring in six months have become pricier than bearish put options.
• Expectations for bitcoin’s (BTC) price over the next six months have turned positive after a long time, in another sign of confidence in the cryptocurrency’s latest bull revival.

Bitcoin is continuing to show positive signs of growth as the long-term sentiment has turned bullish with bitcoin showing its biggest weekly percentage gain in two years. This has been further evidenced by the fact that Bitcoin’s 180-day call-put skew has crossed above zero for the first time since the start of 2021, indicating that bullish call options expiring in six months have become pricier than bearish put options.

This is a good measure of the market’s sentiment as it gauges the price of calls relative to puts. It is clear that there is a much greater demand for calls than puts, which is a sign of increased confidence in the cryptocurrency’s ability to remain buoyant in the coming months.

This sentiment has been further reinforced by the fact that expectations for bitcoin’s (BTC) price over the next six months have turned positive after a long time. This is yet another sign of confidence in the cryptocurrency’s latest bull revival.

The bulls have been in control for some time now and the market is showing no signs of slowing down. Bitcoin has been rallying since mid-December and is now close to breaking through the $35,000 level. If the rally continues, which many expect it will, then it is likely that we could see bitcoin hit the $50,000 level before the end of the year.

The current bullish sentiment is being driven by a number of factors. Firstly, there is increasing institutional demand for the cryptocurrency. Institutional investors have been steadily buying into bitcoin over the past few months, driving the price higher.

Additionally, there is increasing optimism that the cryptocurrency could soon become a mainstream payment method. This is being driven by companies such as PayPal and Square, who are making it easier for consumers to buy and sell bitcoin.

It is clear that the long-term outlook for bitcoin remains positive. The market is showing strong signs of bullishness and there is increasing optimism that the cryptocurrency could become a mainstream payment method. It is likely that the rally will continue in the coming months and that we could see bitcoin hit the $50,000 level before the end of the year.

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