#zkSNARKS

[binimom]

What are zk-SNARKs???

In today's digital age, privacy and security are crucial 🔒 and one of the innovative technologies for this is zk-SNARKs, which enables privacy-preserving authentication for a wide range of use cases 제공합니다🛡️. It is also utilized in secure voting systems and blockchain technology, and is particularly useful in digital currencies and decentralized systems🚀. It's a complex technology that requires a deep understanding of cryptography, but researchers and developers are said to be constantly trying to improve and optimize it. Cheers💪.

#digitalage #privacy #security #zkSNARKs #cryptography #securevotingsystem #blockchain #digitalcurrency #decentralizedsystem #researchers

[qjawe]

#vitalikbuterin #vitalik #zksnarks #insead talk about present and future of #ethereum Ξ, ⧫, ⬨, ⟠ (at Insead University Singapore - Asia Campus) https://www.instagram.com/p/CksHCAKyYgk/?igshid=NGJjMDIxMWI=

#vitalikbuterin #vitalik #zksnarks #insead #ethereum

[pccconsulting]

Ethereum Merge: la fusione ha avuto successo

L'effetto immediato dell'Ethereum Merge sul prezzo dell'ether è stato negativo, in linea con i movimenti di Bitcoin. Ma gli effetti della svolta si vedranno nel tempo È un cambiamento sostanziale, che permetterà alla rete ethereum di essere totalmente green riducendo i consumi di eletricità del 99,9% ed aprirà la strada ad un notevole incremento delle performance in termini di transazioni per secondo che la rete ethereum può supportare  

Ethereum Merge, la svolta

Il giorno di Ethereum Merge - la fusione di Ethereum - e del suo definitivo passaggio al sistema di validazione proof of stake è definitivamente avvenuto. Con successo. Considerata l'attesa attorno all'evento da parte della comunità crypto sarebbe stato lecito osservare qualche scossone sul prezzo dell'ether, che però si è mosso sostanzialmente nel solco del Bitcoin, ovvero in lieve calo. Le difficoltà tecniche che prevedevano “l'innesto” della vecchia blockchain Ethereum, resa sicura dal mining e dal sistema proof of work nato con il Bicoin, sulla sua nuova, versione ecosostenibile sono state superate. Ci sono voluti anni, da quando questo avvenimento era stato per la prima volta discusso dal fondatore, Vitalik Buterin, nel 2014. È stato proprio lui a confermare via Twitter che la missione "Ethereum Merge" è stata portata a compimento: "Questo è un grande momento per l'ecosistema Ethereum". A differenza della blockchain su cui si basa Bitcoin, Ethereum è la base per una pluralità di applicazioni (circa 3.500 app decentralizzate) che offrono diversi servizi, compresi quelli di tipo finanziario - come le rendite passive e le attività di credito. Secondo i fautori della Fusione, la nuova veste di Ethereum non sarà solo più ecosostenibile (con un taglio pressoché totale delle sue emissioni), ma anche più efficiente e scalabile. Insomma, sarebbe in grado eseguire più operazioni e meglio di prima. Nuove tecnologie all'orizzonte: zksnarks, sharding e molto altro È una fondamentale innovazione, che permetterà alla rete ethereum di essere totalmente green riducendo i consumi elettrici del 99,9%, ma soprattutto aprirà la strada ad un notevole incremento delle performance in termini di transazioni per secondo. Con il tempo, la Fusione (l'Ethereum Merge) consentirà di portare sulla rete Ethereum nuove tecnologie come ad esempio gli zksnarks e lo sharding che aumenteranno di 100.000 volte il numero di transazioni al secondo che la rete ethereum può effettuare. Inoltre, con il passaggio al proof of stake l'inflazione di ethereum, ossia l'incremento annuo delle monete in circolazione, diminuirà del 90% insieme al burn delle fees, porteranno l'inflazione ad essere vicina allo zero o addirittura ad essere negativa, cosa che dovrebbe avere un impatto positivo sul prezzo degli ether nel prossimo futuro.

Ethereum 2.0: cosa cambia per gli investitori

La Ethereum Merge potrebbe essere un'innovazione interessante per i grandi possessori di ether. Il sistema proof of stake, infatti, affida ai possessori della criptovaluta nativa di Ethereum, di volta in volta estratti casualmente, il compito di validare un blocco del registro blockchain. Quando questo avviene, si ottiene in cambio ether di nuova emissione. Più ether si posseggono, più le probabilità di essere estratti e di poter ottenere il premio aumentano - un po' come avviene quando si dispone di maggiore potenza di calcolo in un sistema basato sul mining (proof of work). Da ora in avanti, come spiegato dall'agenzia Bloomberg, l'ether sarà più simile a un titolo fruttifero - genererà un rendimento stimato del 5,2% (pagato in criptovaluta). Pertanto, questo dovrebbe rendere la moneta di Ethereum più interessante per gli investitori. A questo aspetto favorevole si aggiungerà il ritorno di immagine che da adesso in avanti distinguerà Ethereum dalla criptovaluta ancora al primo posto in termini di capitalizzazione: Bitcoin. Mentre l'abbandono del mining da parte di Ethereum è stato paragonato in termini energetici allo spegnimento dei consumi della Finlandia, Bitcoin continuerà ad inquinare. Secondo l'osservatorio dedicato a questo tema dell'università di Cambridge, la criptovaluta per eccellenza, al 15 settembre, ha un consumo energetico annualizzato di oltre 94Twh - superiore a quello dell'intero Kazakistan. "Credo che il Merge possa davvero convincere le persone che erano interessate a Ethereum, ma scettiche sull'impatto ambientale, a venire a sperimentarlo", ha dichiarato a CoinDesk uno degli sviluppatori della fondazione Ethereum, Tim Beiko.

Read the full article

#Ether #EthereumMerge #fusionediEthereum #proofofstake #proof-of-work #sharding #zksnarks

[cryptoguru420]

New Ethereum Network From ConsenSys

Blockchain development firm ConsenSys, creator of diverse blockchain products like MetaMask and Infura, recently launched a new layer 2 blockchain called Linea. This new network uses a zero-knowledge rollup to scale Ethereum with faster transaction execution and lower costs.

After three months in public testnet, Linea consensys is now ready to make the transition from testnet to mainnet. The team is onboarding launch partners this week, and will open the alpha network to end users during next week’s EthCC conference in Paris. The mainnet launch will feature security measures that safeguard users, DApps and the system itself. Limits on withdrawals will be in place at launch, and will be gradually removed over the first 90 days of operation.

Linea is a fully EVM compatible, zkEVM-equivalent, scalable Ethereum Layer 2 (L2) with an expected performance of up to 20X better than the current mainnet. It leverages a multi-prover, quantum-resistant lattice-based proofr and recursive-friendly zkSNARK prover to achieve boundless scalability with fast transaction confirmations and secure privacy. Its native Ethereum Virtual Machine (EVM) bytecode and compatibility with existing developer tools makes it easy for developers to port their apps to the platform. It also boasts cost-effectiveness with transactions on Linea expected to be up to 15X cheaper than on the Ethereum mainnet.

A key component of the platform is the zkRollup, which uses a combination of ZKPs and conflation to reduce on-chain data. By storing only the state updates of a block and its associated zkPs on the chain, it can reduce the size of the block while maintaining full security. This allows the network to process higher volumes with the same amount of space.

The zkRollup is also designed to improve security with formal verification, a type of auditing that identifies vulnerabilities and weaknesses in the code. ConsenSys has partnered with top cybersecurity firms to provide this service for free, ensuring that the system is a safe and trusted environment for users and developers.

Other key features include a decentralized oracle that allows for multiple nodes to verify transactions and blocks, and a self-healing system that protects against attack and ensures consistency of the zkRollup’s state. The zkRollup is backed by an insurance fund, which reimburses users for lost or stolen tokens.

The launch of Linea marks the latest step in ConsenSys’ efforts to address the Ethereum scalability problem. ConsenSys has already released several other Ethereum scaling solutions including a new smart contract engine and a new transaction speed protocol. The company is also working on a network that will allow it to support more than 30 Ethereum-based projects simultaneously. It has also established the Ecosystem Investment Alliance with 30+ leading venture capital firms to support ecosystem builders through validation, dedicated funding and a clear pipeline to the Linea ecosystem. These initiatives aim to stimulate innovations on the Ethereum platform by addressing some of its most critical limitations.

#crypto

[pivianx]

TRADE PIVX on CoinEX BTC USDT

#PIVX is a #PrivacyCoin with #zkSnarks and a Proof of Stake #PoS #blockchain #zkPoS #PIVX is featuring both #DASH and #zcash Trade for #BTC and #USDT on #CoinEX

#pivx #cryptonews #cryptocommunity #btc #usdt #staking

[ai360soft]

Key Takeaways: zkSync, a trustless Layer 2 blockchain scaling solution, utilizes zero-knowledge rollups to enhance transaction speed and cost-effectiveness while ensuring robust security. Layer 2 solutions operate outside Ethereum's congested main network, relying on its security layer solely for transaction validation. Rollups consolidate transactions to optimize time and cost efficiency. Zero-knowledge conceals transaction details without compromising validity. zkSync Era mainnet, launched on 24th March 2023, signifies the network's commencement. Pioneering zkSync: Matter Labs' Layer 2 Protocol Matter Labs, creator of the innovative Layer 2 protocol zkSync, has successfully raised over $250 million across four funding rounds. Influential venture capitalists, including Binance, Okex, Andreessen Horowitz, and Consensys, have backed the project. zkSync aims to revolutionize blockchain networks by expediting withdrawals and minimizing transaction fees. After four years of rigorous development, Matter Labs unveiled the zkSync Era mainnet, granting public access to the zkSync Layer 2 network and the first zkEVM. But what are zkSync, zero-knowledge, and rollups? Exploring zkSync zkSync, an Ethereum-based Layer 2 zero-knowledge scaling solution, enhances efficiency by operating autonomously from the main network. As a trustless protocol, it accelerates transactions and reduces fees by validating transaction groups through rollups. Account abstraction, a key zkSync feature, allows for intricate and multifunctional crypto wallet setups. Enhanced security measures, such as multi-signature or two-factor authentication, are thus feasible. In contrast to optimistic rollups, zero-knowledge rollups streamline withdrawals from Ethereum, requiring only 15 minutes to 3 hours. Although zkSync transactions currently lack privacy, plans are underway to incorporate this crucial feature to foster mass adoption. Over 200 projects were poised to deploy on zkSync before its launch, and presently, 10 protocols are active on zkSync Era. The Mechanism Behind zkSync zkSync, a dependent network, relies on the main Ethereum network for transaction validation. However, it manages all other transaction aspects. To send a transaction for validation, zkSync employs rollups to bundle multiple transactions, which are then validated as a single transaction on Ethereum. This streamlined process ensures lower costs and improved efficiency while maintaining optimal security levels. Zero-knowledge Proofs and Rollups Unveiled Zero-knowledge proofs, a groundbreaking cryptographic technique, enable the concealment of transaction details while simultaneously executing and validating them. The innovative method involves two parties: the Prover and the Verifier. The Prover seeks to prove a statement's truth to the Verifier, who requires validation without additional information. The ZK protocol mediates the transaction, and the hidden information (or Witness) includes the transaction details. To confirm a transaction's truth, the Prover must answer the Verifier's Challenge. Upon validating the Prover's Response, the ZK protocol communicates the transaction's truthfulness to the Verifier. Consequently, the recipient only knows whether the transaction is true or false. zkSync utilizes a succinct, non-interactive type of zero-knowledge protocol known as ZKSNARK, which is also employed by Polygon in its Layer 2 project, Polygon zkEVM. Rollups address Ethereum's transaction validation limitations by bundling multiple transactions and settling them simultaneously. By treating the rolled-up transactions as a single entity, rollups save time and costs for P2P and smart contract transactions. zkSync Era: A New Dawn for User Experience Matter Labs has dubbed the zkSync mainnet "Era " because it represents "a brand new Era for user experience." On Era, Matter Labs aims to create a platform where new decentralized applications can thrive, while also allowing existing applications to branch out or fully migrate to the network.

Within the first four days of its launch, zkSync Era recorded over one million transactions. The total value locked on the network has been steadily rising since its inception. zkSync joins other Ethereum scaling solutions in their quest to improve the EVM and EVM-dependent decentralized applications, addressing the blockchain trilemma's scalability aspect. Although Matter Labs has not confirmed plans to launch a token or run an airdrop program, many believe that interacting with the protocol's smart contracts will be one of the requirements based on previous airdrops. To learn more about how you can improve your eligibility for a potential zkSync airdrop, refer to our brief guide here. Comparing zkSync and Polygon zkEVM zkSync faces competition from other projects in the zero-knowledge and rollup market. A notable contender is Polygon's zkEVM, which also employs the zero-knowledge protocol to create a platform similar to zkSync Era. The primary distinction between the two is bytecode compatibility. While zkSync is EVM-compatible, Polygon zkEVM is EVM-equivalent. This means that existing projects on Ethereum can port their application to Polygon zkEVM without altering the code, making deployment on the network faster and more cost-effective. In contrast, Era is LLVM-based, requiring projects to use the LLVM compiler for deployment. Despite the additional step required for Era deployment, zkSync's founder, Alex Gluchowski, maintains that the platform's current design is crucial for its operation. He also emphasizes the importance of pursuing new solutions to overcome existing system limitations. Final Thoughts Due to Ethereum's inherent limitations, Layer 2 scaling solutions and EVM-compatible Layer 1 networks are working to develop more efficient platforms for Ethereum's technological offerings. zkSync is one such endeavor. With the launch of zkSync Era, developers can deploy decentralized solutions on a platform that promises a superior user experience, privacy, and security. However, zkSync is in its infancy and is still optimizing its features. As projects on the platform continue to share their growth statistics, the focus will be on evaluating the technologies' performance over time. So far, the trend is largely positive, even considering the 4-hour downtime on April 1, 2023, as illustrated in this DefiLlama chart. Other projects are also exploring ways to use zero-knowledge rollups for efficient P2P transactions. In addition to zkSync, Layer 1 ZK projects using the zero-knowledge protocol are in development, along with Layer 2 rollups like Optimism and Arbitrum. Its closest competitor is the Polygon zkEVM, another zero-knowledge rollup. It is crucial to remember that zkSync, in its early development stage, will likely undergo several changes. As an investor, always conduct thorough research before investing in any cryptocurrency project. Additionally, note that this article is purely informative and should not be considered financial advice.

[codezeros]

Everything You Need to Know about zkEVM

The Zero Knowledge Ethereum Virtual Machine (ZK-EVM) is an implementation of the Ethereum virtual machine (EVM) using a secure implementation of zkSnarks developed by Intel Research. It allows for execution of untrusted smart contracts, without ever revealing the code being executed to untrusted parties. It is a secure, private and scalable EVM implementation running on the Ethereum mainnet. To know more about ZK-EVM read this blog.

#ethereum development #Ethereum

[cryptosecrets]

Hacken boosts Binance proof of reserves security

On Feb 14, 2023, Hacken researchers ran tests and identified a bug in the Binance zkSNARK-based Proof of Reserves system. Hacken published a complete report on the assessment, announced it on their Twitter, and immediately apprized the Binance team to resolve the issue. Binance proof of reserves verification upgrade Binance announced an upgrade on its proof-of-reserves verification to include…

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[cryptoking009]

Hacken boosts Binance proof of reserves security

On Feb 14, 2023, Hacken researchers ran tests and identified a bug in the Binance zkSNARK-based Proof of Reserves system. Hacken published a complete report on the assessment, announced it on their Twitter, and immediately apprized the Binance team to resolve the issue. Binance proof of reserves verification upgrade Binance announced an upgrade on its proof-of-reserves verification to include…

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[rnewspost]

Hacken boosts Binance proof of reserves security

On Feb 14, 2023, Hacken researchers ran tests and identified a bug in the Binance zkSNARK-based Proof of Reserves system. Hacken published a complete report on the assessment, announced it on their Twitter, and immediately apprized the Binance team to resolve the issue. Binance proof of reserves verification upgrade Binance announced an upgrade on its proof-of-reserves verification to include…

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[parolim-prlm]

Hacken boosts Binance proof of reserves security

On Feb 14, 2023, Hacken researchers ran tests and identified a bug in the Binance zkSNARK-based Proof of Reserves system. Hacken published a complete report on the assessment, announced it on their Twitter, and immediately apprized the Binance team to resolve the issue. Binance proof of reserves verification upgrade Binance announced an upgrade on its proof-of-reserves verification to include…

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[qjawe]

#vitalikbuterin #vitalik #ethereum #zksnarks (at Insead University Singapore - Asia Campus) https://www.instagram.com/p/CkqcGfbysrs/?igshid=NGJjMDIxMWI=

#vitalikbuterin #vitalik #ethereum #zksnarks

[mubashirnews]

Hacken boosts Binance proof of reserves security

On Feb 14, 2023, Hacken researchers ran tests and identified a bug in the Binance zkSNARK-based Proof of Reserves system. Hacken published a complete report on the assessment, announced it on their Twitter, and immediately apprized the Binance team to resolve the issue. Binance proof of reserves verification upgrade Binance announced an upgrade on its proof-of-reserves verification to include…

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[cryptoguys657]

Hacken boosts Binance proof of reserves security

On Feb 14, 2023, Hacken researchers ran tests and identified a bug in the Binance zkSNARK-based Proof of Reserves system. Hacken published a complete report on the assessment, announced it on their Twitter, and immediately apprized the Binance team to resolve the issue. Binance proof of reserves verification upgrade Binance announced an upgrade on its proof-of-reserves verification to include…

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[spitonews]

zkSNARKs in a nutshell | Ethereum Foundation Blog

zkSNARKs in a nutshell | Ethereum Foundation Blog

The possibilities of zkSNARKs are impressive, you can verify the correctness of computations without having to execute them and you will not even learn what was executed – just that it was done correctly. Unfortunately, most explanations of zkSNARKs resort to hand-waving at some point and thus they remain something “magical”, suggesting that only the most enlightened actually understand how and…

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[hyipstation]

Loopring Coin Review : Is It Good Or Bad Coin Read Our Article

Loopring Coin Review : Is It Good Or Bad Coin Read Our Article

About Loopring Coin Loopring Coin Protocol 3, they want to improve the throughput of the protocol significantly. They do this by using zkSNARKs — as much work as possible is done off-chain, and they only verify the work on-chain. For the highest throughput, this only support off-chain balances. These are balances that are stored in Merkle trees. Users can deposit and withdraw tokens to your…

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#How To Buy Loopring? #Loopring Coins #Loopring Review