Blockchain
Orbs Launches The TON Verifier To Verify The Ecosystem’s Smart Contracts Code
Tel Aviv, Israel–(Newsfile Corp. – December 15, 2022) –
Leading Layer-3 Blockchain Solution Orbs Announces TON Verifier
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The TON Verifier marks a big step in bringing more transparency to the TON chain. Its potential for smart contracts is undisputed, yet users and developers aim for better accountability. Moreover, transparent and verified source code makes assessing the integrity of contracts straightforward.
Decentralized environments like the TON chain thrive on being trustless. However, users must still trust the code they interact with. Verified source code is one way of achieving that goal without friction. Orbs’ TON Verifier is a powerful tool when dealing with financial balances, transactions, accounting, etc.
The potential of smart contracts is very promising, yet humans write the code. A developer might want to change the code once their contract has been used to deposit funds. Another common threat is the backdoor in the contract, enabling culprits to drain the contract and its belongings. Conducting due diligence is paramount for users and developers. With TON Verifier, anyone can match the contract’s source code to the bytecode on-chain.
Through the new tool by Orbs, developers can upload smart contract source code and include a signed proof to ensure it compiles to the on-chain version. Contracts are verified through the app, which compiles and verifies the source.
If everything checks out, the app will receive a BoC, which the user can send to the verifier and sources registries. Should the compilation fail or there is a hash mismatch, users will receive suggestions to acquire the correct hash.
Orbs takes a decentralized approach to ensuring smart contract integrity. With its TEP-91 solution, users don’t need to rely on the Orbs-run backend. Instead, everyone can spin up a verifier, register it to the registry, and assign their backend. All sources are stored through IPFS, with a later migration to TON storage.
The TON Verifier by Orbs is a big step in the right direction to establishing trust and transparency. However, verified source code doesn’t always negate every risk. Users still need to conduct due diligence while analyzing code and its potential implications, regardless of matching on-chain bytecode. To that end, users can flag potentially misleading code to warn others about risks.
Orbs remains committed to the TON network and its future success. The team recently introduced Minter, used to deploy alt-tokens on TON. That project has given birth to nearly 500 tokens, expanding the ecosystem’s growth and appeal. Orbs builds tools to improve transparency and security for developers and users.
About Orbs
Orbs is a public and decentralized blockchain infrastructure operated via a secure network of permissionless validators and the Proof-of-Stake (PoS) consensus mechanism. The platform serves as a decentralized execution layer between existing layer-1 and layer-2 chains and the application layer. By enhancing the capabilities of EVM and non-EVM smart contracts, Orbs powers new use-cases for DeFi, NFTs, GameFi, and other emerging blockchain-based sectors.
About The Open Network (TON)
TON is a third-generation proof-of-stake blockchain designed in 2018 by the Durov brothers, the founders of Telegram Messenger. Later, it was handed over to the open TON Community, which has been supporting and developing it ever since. TON was designed for lightning-fast transactions, and it’s ultra-cheap, user-friendly, and fully operational.
Contact
Ran Hammer
[email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/148162
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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