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Zero-Knowledge Proofs, Explained | Cointelegraph

1. A zero-knowledge proof is a digital protocol that allows for data to be shared between two parties without the use of a password or any other information associated with the transaction. In its most basic sense, a zero-knowledge proof (also commonly referred to as ZKP) can be thought of as a protocol through which a digital authentication process can be facilitated without the use of any passwords or other sensitive data. As a result …

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Ether and BTC Didn’t Face Regulations Unlike New Projects

Ethereum and Bitcoin (BTC) did not have to comply with regulation, admitted Ethereum co-founder Joseph Lubin in an interview with industry news outlet Forkast published on Nov. 18. During the interview — which took place at the Hong Kong FinTech Week — Lubin noted that new projects need to comply with regulations, and explained the impact of the application of security law to the cryptocurrency space. You can’t sell a utility token, it’s not one …

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DeFi Startup Compound Finance Raises $25 Million Series A Led by A16z

Lending protocol Compound Finance just raised $25 million in a round led by Andreessen Horowitz’s a16z crypto fund, marking one of the largest venture capital investments in a decentralized finance (DeFi) startup to date. According to DeFi Pulse, Compound has nearly $103 million worth of crypto locked up in its automated system, which can generate returns for users comparable to interest. Today’s announcement of the Series A follows Compound’s $8.2 million seed round in 2018. …

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Ethereum’s Hearthstone Rival Sets Volume Record After Blizzard Scandal

Ethereum (ETH) based trading card game Gods Unchained has far outstripped CryptoKitties by volume after a censorship scandal involving game-developer Blizzard. As blockchain research platform Coin Metrics noted on Nov. 12, the past month has seen activity explode for the game, with interest dwarfing that of CryptoKitties at its 2017 peak. Data: Gods Unchained volume five times higher In terms of daily transfers of its non-fungible tokens (NFTs), Gods Unchained was recording almost 500,000 such …

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Ethereum Istanbul Hard Fork Release Date Confirmed By Core Developer

Team lead at the Ethereum (ETH) Foundation Péter Szilágyi has confirmed Dec. 4 as the expected date for the network’s forthcoming Istanbul hard fork. In two tweets posted on Nov. 7, Szilágyi indicated that Istanbul will commence at block 9069000. He provided Geth mainnet node operators with a link to a new maintenance release designed to begin the hard fork’s initialization.  Geth is the name given to one of the two most popular clients used …

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MakerDAO Proposes New DAI Ceiling After Hitting $100 Million Cap

The MakerDAO loan system, administered by the Maker Foundation, hit its debt ceiling Wednesday with roughly $100 million worth of the stablecoin DAI issued and more than $339 million worth of ethereum locked up as collateral. On Thursday, the Maker Foundation proposed a new debt ceiling of 120 million DAI, which will now be voted on by holders of MKR governance tokens. “MakerDAO has hit that limit and no more [DAI] can be generated until that …

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Blockchain Must Solve These 3 Issues to Avoid Quantum Threat: Expert

The blockchain community should immediately begin working on three issues to prevent being overtaken by quantum computers, a cryptography expert says. Xinxin Fan, head of cryptography at privacy- and IoT-focused blockchain platform IoTeX, published an article in The International Business Times on Nov. 7, calling on the blockchain community to stay up to date about the progress being made on quantum computers. While reiterating that short-term developments in quantum computing are “modest,” Fan argued that …

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Digital Travel Firm Webjet Has Launched Its Booking Verification Blockchain

Digital travel agent Webjet has launched its long-in-development blockchain-based platform in a bid to remove disparities in hotel booking data. Working in conjunction with Microsoft through the firm’s Azure blockchain-as-a-service sandbox since 2016, Webjet said Thursday the new Rezchain application will address hotel reservation snafus and overcharges by looking for data mismatches in real-time between customers, hotels and booking agents, and sending alerts if any are found. Such errors are found in at least 5 percent …

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Æternity Releases Final Hard Fork Software to Compete with Ethereum

The core development team of blockchain platform Æternity announced the release of the software of its latest hard fork, namely Lima. Æternity announced in a press release published on Nov. 5 that the introduction of Lima improves the network’s virtual machines, governance and naming system. The purpose of the update explicitly described in the announcement is to challenge Ethereum and other blockchain platforms. A virtual machine ten times more efficient  The press release claims that …

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