Blockchain Press Releases
Polyhedra Network and WSPN Join Forces to Enhance WUSD with Zero-Knowledge Solutions
SINGAPORE, Oct. 9, 2024 /PRNewswire/ — Worldwide Stablecoin Payment Network (WSPN) is excited to partner with Polyhedra Network to incorporate zero-knowledge technology for the future of digital payment. Leveraging Polyhedra’s expertise in cutting-edge cryptographic techniques, this partnership aims to drive innovation, speed, and security for digital ledger technology used by international payment systems.
WSPN provides transparent and efficient solutions for payment technology, with a dedication to shaping seamless experiences at the frontier of financial inclusion. In particular, WSPN pioneers the stablecoin WUSD, which is pegged 1:1 to the U.S. Dollar and aims for worldwide payments and round-the-clock financial markets. WUSD is built to bridge the gap between DeFi and TradFi, uniquely poised to transact across borders and mitigate volatility associated with other riskier assets. WSPN has taken a proactive approach with regards to compliance for WUSD, partnering with security firms like Certik to ensure smart contract integrity.
There are three areas the joint teams have identified for collaboration:
Interoperability with zkBridge
Bringing zkBridge to WSPN’s infrastructure will help increase interoperability without relying on external trust assumptions. zkBridge allows different networks to verify data in a secure manner, and employs the use of best-in-class provers to significantly improve proof generation. zkBridge also reduces on-chain verification costs, and will allow for transference of cross-chain assets and liquidity. Together, zkBridge and WSPN hope to benefit the overall functionality, data validity, and collaboration of the WUSD system.
ZK-powered Proof of Reserve
Polyhedra will build upon WSPN’s current Proof of Reserve process by using a ZK PoR mechanism. Polyhedra PoR will help demonstrate and ensure that assets exist 1-1 to back the WUSD coins held on-chain. This verifies that every dollar in WUSD is backed by its equivalent tangible asset in the real world. As a result, users can have more trust in the stability of their asset(s).
Pioneering Private Transactions
Historically, the transparency of digital ledgers has been a sore point for financial institutions that require privacy and regulatory measures such as selective disclosure. Polyhedra has developed a proprietary offering which employs conditional de-anonymization for compliant and efficient transactions. In the context of WUSD, this solution will empower users and institutions with the ability to obfuscate their transaction details.
All three of these solutions are supported by Expander, the fastest ZK proof system to date. Invented by the cryptography team at Polyhedra, Expander uses innovative polynomial commitment schemes integrated with the GKR protocol to minimize computational overhead, reduce memory usage, and process high-performance calculations. Expander’s contribution to these products and this collaboration means WSPN can set a new industry standard for scalability and security in stablecoins.
Together, WSPN and Polyhedra are excited about how this partnership will expand ecosystems and drive value for users and the community. Increasing usability of these tools will help to bridge the gap between traditional finance and the digital economy.
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About Polyhedra Network
Polyhedra Network is building the next generation of secure, interoperable, and scalable blockchain infrastructure with advanced zero-knowledge-proof technology. The team has developed and deployed several next-generation ZK-SNARK protocols resulting in performance improvements orders of magnitude faster than existing solutions. Their interoperability solution, zkBridge, connects over 25 blockchains and proves the validity of cross-chain messages utilizing zero-knowledge proofs. Developers building with Polyhedra Network can create secure, scalable, interoperable applications without any additional trust assumptions.
Website | X (formerly Twitter) | Discord
About WSPN
WSPN is a leading provider of next-generation stablecoin infrastructure, committed to building a more secure, efficient, and transparent payment solution for the global economy. Their flagship product, WUSD stablecoin, is pegged 1:1 to the U.S. Dollar and aims to optimize secure digital payments for Web3 users. WSPN ‘s Stablecoin 2.0 approach prioritizes user-centricity, community governance, and accessibility, paving the way for widespread stablecoin adoption.
Learn more: www.wspn.io | X | LinkedIn
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Blockchain Press Releases
CoinDesk bolsters information services offering with strategic acquisition of CCData and CryptoCompare
NEW YORK and LONDON, Oct. 16, 2024 /PRNewswire/ — CoinDesk, one of the most trusted media, events, indices, and data companies for the global crypto economy, today announced that it has acquired CCData, a U.K. FCA-regulated benchmark administrator and one of the leading providers of digital asset data and index solutions, including its trusted retail site, CryptoCompare, which serves over 300,000 active users. The acquisition significantly scales CoinDesk’s information services and data products, while offering enhanced cross-sell opportunities to CCData and CryptoCompare’s extensive number of institutional and retail clients.
For over a decade, CCData has been providing its institutional-grade data solutions, digital asset index suite, and award-winning research to government, institutional, and retail clients navigating the digital asset ecosystem. The acquisition of CCData’s robust data platform and retail platform CryptoCompare further strengthens CoinDesk’s data offerings, immediately increases subscription revenues, and complements the existing suite of solutions offered by CoinDesk Indices and CoinDesk Media.
“Over the past ten years, CCData has become one of the most respected and reliable data platforms for digital assets, earning the trust of numerous users seeking to understand and leverage their potential,” said Sara Stratoberdha, CoinDesk CEO. “We are thrilled to begin integrating CCData’s high-quality, robust, and trusted data platform and retail suite across CoinDesk’s existing products and services to unlock greater opportunities for our customers.”
“We are incredibly excited to join forces with CoinDesk as we embark on the next chapter of CCData’s journey,” said Charles Hayter, CEO and Co-Founder of CCData. “CoinDesk is an integral pillar of the digital asset sector, from its award-winning journalism to flourishing index business. I am deeply proud of what CCData and CryptoCompare have accomplished over the past decade, and with CoinDesk as our partner, I’m confident that we will continue to build a legacy that supports and empowers our clients and the broader crypto industry.”
CoinDesk business update
Since 2014, CoinDesk Indices has been at the forefront of the digital asset revolution, empowering investors globally with tens of billions of dollars in benchmarked assets. Flagships such as the CoinDesk Bitcoin Price Index (XBX) and the CoinDesk 20 Index set the industry standard for measuring, trading, and investing in digital assets. Since launching in January 2024, the CoinDesk 20 perpetual futures contract has attracted substantial institutional interest, driving a trading volume of over $8 billion.
CoinDesk Media provides news, analysis and real-time insights on digital assets and blockchain technology and holds large-scale conferences for industry professionals. CoinDesk Media’s products and services reached an estimated audience of 45.5 million people during the first half of 2024. The Consensus conference, one of the world’s largest and longest-running digital asset events, attracted over 15,000 registrations in 2024. Consensus Hong Kong and Consensus Toronto will take place on February 18-20 and May 14-16 in 2025, respectively.
Advisor
Morgan, Lewis & Bockius LLP served as legal advisor to CoinDesk on the transaction.
Media contacts
CoinDesk
CCData
About CCData
CCData is an FCA-regulated benchmark administrator and global leader in digital asset data, providing institutional-grade digital asset data and settlement indices. By aggregating and analyzing tick data from globally recognised exchanges and seamlessly integrating multiple datasets, CCData provides a comprehensive and granular overview of the market across trade, derivatives, order book, historical, social, and blockchain data.
To learn more about CCData, go to: www.ccdata.io.
About CoinDesk
CoinDesk is one of the most trusted media, events, indices, and data companies for the global crypto economy. CoinDesk Indices offers expertise in digital asset indices, data, and research to educate and empower investors. Since 2013, CoinDesk Media has led the story of the future of money and investing, illuminating the transformation in society and culture that comes with it. Our award-winning team of journalists delivers news and unparalleled insights that bring transparency, comprehension, and context. CoinDesk Events gathers the global crypto, blockchain, and Web3 communities at annual events such as Consensus, the world’s largest and longest-running crypto festival.
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Multiversx, the world’s most scalable blockchain network, has
appointed Adam Bates, former CMO of Cardano / IOHK, as its new Chief Marketing Officer (CMO) to take its narrative to a wider global audience.
“MultiversX have created the perfect island, but nobody really knows about it, My role is to be
the tourist board – to atract millions of visitors,” says Adam. “MultiversX can already do 72k tps and accelerate throughput of existing L2 blockchain networks by up to x100. And that is a story that needs to be told.”
Previously, Adam helped make Cardano a top 30 brand that ranked above Bitcoin, BMW and Nestle for brand intimacy,. Other notable career wins include creating the biggest hybrid marketing event in the crypto space, winning Fast Company’s “Top 10 Most Innovative
Companies’ award, featuring Cardano’s CEO Charles Hoskinson, live on Fox News, Yahoo Finance, Bloomberg and in Rolling Stone Magazine, and creating the Cardano 360 news show which grew community audiences 25x in 3 months. All of which helped ADA value increase 20x.
A major proponent of blockchain tech and its everyday merits, Adam added, “Blockchain can and must bring trust to the masses to revolutionize industries like AI, finance, Healthcare, voting, social media and more. Only a limitlessly, scalable blockchain like MultiversX with record-breaking tps, that can also dramatically accelerate throughput for all chains, can do this. This unselfish mission resonated deeply and attracted me to MultiversX.
In addition to blockchain, Adam brings a wealth of brand experience to drive mainstream blockchain adoption, having overseen major marketing campaigns for Fortune 500 companies such as Virgin Airlines, Barclays, Paralympics, Emirates, Lego, Mercedes-Benz. Porsche and Samsung among others Adam was also a Director at the global marketing group BBDO in London for 11 years, working with over 300 offices worldwide, giving him a comprehensive understanding of cross border collaboration.
Beniamin Mincu, CEO of MultiversX, expressed his excitement at Adam’s arrival: “A great idea is only as powerful as its reach. Adam Bates’ proven ability to drive brand recognition and achieve strategic milestones is exactly what we need to showcase our strengths. Hel be instrumental in conveying that were not here to compete–were here to empower the entire blockchain industry with the scalability it needs for mainstream success.
Adam’s appointment marks yet another leap forward in MultiversX’s mission to harness top-tier talent, positioning blockchain as the catalyst for innovation across countless industries.
The post Cardano CMO Adam Bates joins MultiversX as new Chief Marketing Officer appeared first on HIPTHER Alerts.
Blockchain Press Releases
Bybit Welcomes Traders in South Asia with Rewards Including Trending Tokens and More
DUBAI, UAE, Oct. 15, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, introduced new incentives for users in South Asia to onboard the crypto express. From now to Dec. 24, 2024, users and new joiners who successfully complete Bybit’s Identity Verification Level 1 in selected regions are invited to enter the Welcome Fortune Raffle for a chance to get hold of top-of-the-range electronic gadgets and the hottest tokens in the market.
The raffle offers colorful rewards including iPhone 16 (valued at 1,200 USDT), AirPod 4 (valued at 200 USDT), Ledger Nano X (valued at 150 USDT), and the most sought after tokens including ETH, TON, DOT, SUI, WIF, XRP, PEPE, and more.
Users may simply fulfill the registration and verification requirements, register for the event on the official website, and commence their derivatives trading journey with an opportunity to win prizes. Each users will receive lucky draw tickets for the following deposit and trade tasks during the campaign period:
- Deposit $20 more more and trade $200 or more on derivatives; or deposit $50 and trade $500 or more on derivatives to redeem one (1) lucky draw ticket.
- Deposit $100 or more and trade $1,000 or more on derivatives; or deposit $150 and trade $2000 or more on derivatives to redeem two (2) lucky draw tickets.
Eligible deposits include crypto deposit, fiat deposit, One-Click Buy and P2P on the Bybit platform.
“South Asia is home to some of the fastest growing markets in digital assets, thanks to a young and tech-savvy user base. We see enormous potential in the future of crypto adoption and blockchain technology in the region. We are confident more users will see the benefits of Bybit’s comprehensive and intuitive platform, and Bybit is pleased to offer a rewarding start of their crypto journey, ” said Joan Han, Sales and Marketing Director at Bybit.
Read more about how to sign up, deposit and trade for a chance to unlock rewards: Welcome Fortune Raffle.
#Bybit / #TheCryptoArk /
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
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