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Blockchain Press Releases

Portkey Announces Integration of Zero-Knowledge Proofs for Enhanced Identity Management and Security

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SINGAPORE, May 31, 2024 /PRNewswire/ — Portkey, the innovative account abstraction wallet on the aelf blockchain, proudly announces its latest initiative to enhance user security and privacy through the integration of Zero-Knowledge Proofs (ZKPs). This cryptographic technique allows one party (the prover) to prove to another party (the verifier) that a particular statement is true without revealing any additional information, ensuring unparalleled privacy and security for Portkey’s users.

The integration of Zero-Knowledge Proofs (ZKPs) in Portkey’s Web3 wallet and decentralised identity management system promises to offer blockchain users unprecedented levels of provable and tamper-proof identity verification. Portkey will enable users to securely prove their eligibility and compliance with service providers’ requirements without disclosing sensitive personal information. By ensuring digital personas are both distinct and verifiable, Portkey’s adoption of ZKPs aims to bridge the gap between Web2 and Web3 applications, fostering a more secure, privacy-centric, and user-focused internet.

As the prevalence of digital transactions and online interactions increases, it has become even more imperative to protect user data. Portkey’s upcoming integration of ZKPs significantly strengthens its security framework, ensuring that sensitive user information remains confidential and secure. This allows users to engage with digital services confidently, knowing their data is safeguarded by the highest standards of cryptographic security. Portkey’s commitment to privacy and security is a cornerstone of its mission, aimed at establishing a safe and trustworthy digital environment for users navigating the complexities of this increasingly interconnected world.

Introducing SocialLogin

Portkey intends to operate ZKPs through SocialLogin, which encompasses a two-step process: proof generation and verification, for secure transaction validation. In the proof generation phase, the prover creates a proof that confirms the validity of a statement using advanced cryptographic methods. During verification, this proof is evaluated by a verifier who, if the proof is valid, accepts the statement as true without accessing any underlying data. This integration will grant developers the capability to allow users to authenticate themselves on their preferred dApps through their pre-existing social accounts on platforms like Google, Facebook, Twitch, and various other third-party providers.

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At the application level, users register with Portkey by logging in with Google credentials and receive an identity token (JWT). This token is sent to the Proving Service, which generates a zk-SNARK proof. The proof is then used to sign transactions on aelf blockchain, where it is verified on-chain. If the proof is valid, the transaction is executed, ensuring enhanced security and privacy for users. At the protocol level, this involves creating a new interface to generate proofs, developing verification functions, and converting proof-based transactions to normal ones while ensuring robust error handling and testing.

This technological advancement for Portkey is critical for enhancing users’ security and privacy as it eliminates the dependence on external verifier services, and solidifies its position as a pioneering force in the realm of digital wallets and decentralised identity management. SocialLogin is currently being developed and intergrated swiftly on Portkey. Soon, users will be able to experience the smooth login and registration process.

Stay updated on Portkey’s news and engage with the Portkey community on:
Website: https://portkey.finance  
X: https://x.com/Portkey_DID 
 
Telegram: https://t.me/Portkey_Official_Group 
 
Discord: https://discord.gg/zSBDUV9q

About Portkey

Portkey aims to be the most useful Web2-to-3 Wallet: it targets Web2 projects and provides them with simple, seamless, and scalable access to a complete Web3 ecosystem. While Portkey serves as an Account Abstraction Wallet with intuitive social recovery features, it also promotes Decentralised Identity Technology, enabling Web2 businesses and developers to migrate seamlessly into Web3. It also features aelf’s unique Virtual Address (VA) technical approach, which is cheaper, faster and easier to implement compared to other industry standards.

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View original content:https://www.prnewswire.co.uk/news-releases/portkey-announces-integration-of-zero-knowledge-proofs-for-enhanced-identity-management-and-security-302160594.html

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Blockchain Press Releases

HTX Appoints Singapore National Goalkeeper Hassan Sunny as Chief Safeguarding Officer

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SINGAPORE, June 15, 2024 /PRNewswire/ — HTX, a leading cryptocurrency exchange, proudly announces the appointment of Singapore national football team goalkeeper Hassan Sunny as Chief Safeguarding Officer.

“The partnership between HTX, the ‘People’s Exchange’, and Hassan Sunny, the ‘People’s Goalkeeper’, is a perfect match,” said Justin Sun, Member of the HTX Global Advisory Board. “Together, we will work to ensure the safety and security of user assets in the ever-evolving crypto world. Just as Sunny fearlessly protects his goal on the field, HTX is committed to protecting every user’s assets with the same determination and resolve, providing the safest and most reliable investment environment possible.”

Sunny also expressed his excitement about joining the HTX family, stating “I am excited to be part of HTX. I can’t wait to embark on this journey with the team.”

Sunny has been called a national hero in China for his outstanding performance in the final group match of the first round of the 2026 FIFA World Cup Asian Qualifiers against Thailand on June 11th. Despite facing relentless attacks, Sunny made an incredible 11 saves, including a crucial one in stoppage time. Singapore ultimately lost the match 1-3, but their result helped China qualify for the next round at the expense of Thailand.

About HTX:

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Founded in 2013, HTX has evolved from a crypto exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, wallets, research, investment, incubation and other areas. HTX serves millions of users worldwide, with a business presence covering over 160 countries and regions across five continents. Its three development strategies – “global development, technology drives development, and technology for good” underpin its commitment to providing comprehensive services and values to global cryptocurrency enthusiasts.

 

View original content:https://www.prnewswire.co.uk/news-releases/htx-appoints-singapore-national-goalkeeper-hassan-sunny-as-chief-safeguarding-officer-302173558.html

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New seed-stage VC fund from Finland secures €6 million in initial close for €30 million blockchain fund

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Helsinki-based Equilibrium Ventures (EQV), a new seed-stage venture capital fund focused on the crypto sector, has successfully closed the first round of its €30 million fund, raising €6 million from limited partners (LPs). This milestone highlights growing interest in blockchain startups and a promising future for the European crypto ecosystem.

The fund is led by an experienced team of partners: Mika Honkasalo, Henrik Sundvik (formerly of Bain & Company), and Christopher Ahn (ex-Molten Ventures investor). Equilibrium Ventures aims to attract and support founders with deep technical expertise in blockchain technologies, covering areas such as zero-knowledge proofs and smart contracts, essential for developing advanced blockchain solutions.

Equilibrium Ventures has attracted a diverse group of backers, including strategic investors, family offices, and notable LPs like Sebastien Borget, co-founder of the metaverse platform The Sandbox. This support underscores the fund’s credibility and signals growing confidence in crypto investments despite recent market challenges.

Dedicated to crypto infrastructure, Equilibrium Ventures emphasizes rigorous technical due diligence and value addition for pre-seed and seed engineering firms. With a network of about 70 blockchain engineers, mainly based in Europe, the fund is well-positioned to help startups develop robust blockchain technologies.

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The renewed interest in venture capital investment in blockchain, bolstered by evolving regulatory landscapes in the US and Europe, is expected to increase investor confidence in the crypto sector. Equilibrium Ventures, with its technical expertise and strategic support, is poised to become a significant player in Europe’s crypto venture scene.

Looking ahead, Equilibrium Ventures aims for a second close by the end of this summer, targeting 80% of the total fund. This progress indicates strong momentum and the potential for significant contributions to the European blockchain ecosystem.

Source: arcticstartup.com

The post New seed-stage VC fund from Finland secures €6 million in initial close for €30 million blockchain fund appeared first on HIPTHER Alerts.

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Riot Platforms Acquires 14% Stake in Bitfarms Ltd.

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Riot Platforms, Inc. has announced its acquisition of a 14% stake in Bitfarms Ltd., as detailed in a recent press release by Riot Platforms. This move aligns with Riot’s strategy to influence corporate governance within Bitfarms.

Acquisition Details

On June 13, 2024, Riot Platforms purchased 1,432,063 common shares of Bitfarms Ltd., representing about 0.35% of Bitfarms’ issued and outstanding common shares. The shares were bought on the Nasdaq Stock Market and other open markets at an average price of approximately $2.70 per share, totaling $3,870,293.46.

Before this acquisition, Riot held 56,194,973 common shares of Bitfarms, equating to 13.65% ownership. With the new shares, Riot now holds 57,627,036 common shares, resulting in a 14% stake in Bitfarms.

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Strategic Intentions

Riot Platforms intends to call a special meeting of Bitfarms’ shareholders to nominate several independent directors to the board, citing concerns over Bitfarms’ corporate governance. Riot seeks to influence Bitfarms’ strategic direction and enhance its governance standards.

Riot is continuously reviewing its investment in Bitfarms and may adjust its position based on factors such as market conditions and the company’s financial status. Potential actions include increasing or decreasing its stake, entering into hedging transactions, or proposing additional strategic measures.

Forward-Looking Statements

The press release includes forward-looking statements subject to risks and uncertainties, reflecting Riot’s current expectations and assumptions. Riot cautions investors to consider these risks before making investment decisions.

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Riot’s vision is to become the leading Bitcoin-driven infrastructure platform, focusing on a vertically integrated strategy with Bitcoin mining operations in Texas and electrical switchgear engineering in Colorado.

Source: blockchain.news

The post Riot Platforms Acquires 14% Stake in Bitfarms Ltd. appeared first on HIPTHER Alerts.

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