Blockchain
ATOR Launches New Crypto Platform with Unique Utilities
Toronto, Ontario–(Newsfile Corp. – April 26, 2023) – An anonymous development team with OG crypto connections announced the launch of a new protocol designed to incentivize and maximize the adoption of the Tor network. The protocol, called ATOR, develops a new network that operates by building and selling routers and relays, and paying running nodes using an on-chain Proof of Uptime mechanism.
ATOR strives to address the shortcomings of Tor’s current network, which relies solely on volunteers to keep it operational for its 2 million daily users. This predominantly altruistic mechanism for a relatively small number of relays in a global network has led to several drawbacks for Tor and its users, including slow browsing speeds, inconsistent uptime quality, and limited scalability. Additionally, the association of Tor with the Dark Web has led to negative press and a lack of adoption by mainstream users.
ATOR’s solution is to provide incentives for the creation and maintenance of routers and relays, thereby increasing the number and quality of relays in the network. The ATOR protocol will enable the building and selling of routers and relays using cryptocurrency payments, with nodes being paid for their uptime using an on-chain Proof of Uptime mechanism. This mechanism ensures that only relays with consistently high uptimes will receive payment, thereby incentivising high-quality, and reliable nodes.
Furthermore, ATOR’s Proof-of-Uptime protocol incentivizes the creation and maintenance of Tor relays by offering ATOR tokens. By encouraging users to contribute to the network, ATOR aims to strengthen the Tor network and accommodate more volume. Existing Tor nodes can be whitelisted into the ATOR Proof-of-Uptime protocol, allowing them to mine ATOR without disrupting their current operations.
The company also facilitates relay hardware and a router that enables non-technical users to contribute to Tor and mine ATOR. Built on the encryption standards of Tor, ATOR ensures complete privacy and anonymity, making it an ideal solution for those who require anonymity at scale. Overall, ATOR aims to facilitate wider adoption of secure network relay protocols and strengthen the security of the Tor network through on-chain incentives
The project’s roadmap is ambitious. The project launched its ERC-20 token in February 2023, with a maximum of 100 million ATOR tokens issued, and around 63 million currently in circulation. The node rewards appear small, but the team has openly admitted that the reward algorithm will be modified in the future to incorporate further sources of relay rewards.
The team showcased a working prototype of a Tor Router Microcontroller at EthDenver, which is a positive sign of the project’s credibility. The release of instructional open-source code in April 2023 is a good step towards giving confidence to the Tor community and signaling the team’s expertise and credibility.
The second phase of the project involves integrating Tor with ERC20 incentives and developing a dashboard to onboard Tor nodes. The Proof of Uptime concept will be implemented in Q3 2023. The third phase of the project involves transitioning to independence, where the team plans to release their own router hardware and on-chain. The release of own relay hardware is planned for Q1 2024, and a transition to longer-term token incentives is planned for Q2 2024. This final phase involves the release of ‘ATOR Hidden Services’ – allowing users to use web3 on top of the blockchain in return for ATOR. It is a real utility and brings sustainability to the entire protocol, truly an end-to-end solution.
The fourth and final phase of the project involves privacy absolute with LoRa. The team plans to release prototypes for ‘last-mile’ LoRa routers in Q2 2024. These dedicated hardware devices will relay packets using long wave radio to existing relays that then plug into the main Tor network. There are considerations that need to be met, such as open-source router hardware and firmware based on reputable and reliable Tor project-approved code, configurable routers, and updatable Tor browsers. The routers need to be powerful, reliable, and affordable, and the team needs to involve the ATOR community to ensure the project’s success.
In addition to that, ATOR has the potential to be a game-changer for the Tor network and its users, providing faster browsing speeds, increased reliability, and enhanced privacy for all users. With the launch of ATOR, the development team hopes to see a surge in adoption of the Tor network by mainstream users who value their privacy and security online.
About the Company – ATOR
ATOR is a platform that strives to increase the adoption of the Tor network by incentivizing the creation and maintenance of Tor relays. By utilizing on-chain rewards through their Proof-of-Uptime protocol, ATOR encourages users to route encrypted traffic and contribute to the growth of the network.
In addition, existing Tor nodes can be whitelisted into ATOR Proof-of-Uptime, allowing them to mine ATOR while continuing to operate as usual. The platform also provides relay hardware and a router that enables non-technical users to contribute to Tor and mine ATOR, making it accessible to a wider audience. ATOR ensures complete privacy and anonymity through its built-in encryption standards, making it an ideal solution for users seeking anonymity at scale.
For more information about ATOR and its development team, please visit https://ator.io/.
Media Details:
Company Name: ATOR
Contact Email Address: [email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/163839
Blockchain
P2 Ventures Commits $50M Via Hadron FC to Startup Founders in Polygon Ecosystem
Last year, P2 Ventures emerged as a distinct entity from Polygon Labs, with a focus on blockchain investments. Now, it’s earmarking funds and providing mentorship to bolster project founders, particularly those concentrated on the Polygon blockchain ecosystem. A contributor from Hadron FC remarked that the community offered the perfect blend of “capital and vibes.”
P2 Ventures, a venture capital firm with a blockchain emphasis, was established late last year as a separate entity from developer Polygon Labs. It has pledged $50 million to support startup founders, potentially igniting fresh initiatives within the Polygon ecosystem.
The investment from P2 Ventures will be channeled to founders via Hadron FC, a program tailored for founders with hubs in Dubai and New York, according to a press release. This program encompasses mentorship, legal and regulatory guidance, networking opportunities, and “comprehensive assistance in navigating the complexities of startup development and fundraising,” the release stated. Among the initial 36 projects onboarded, several participated in a week of collaborative efforts at the Dubai facility. Shreyansh Singh, head of investments at P2 Ventures, expressed confidence in Hadron Club’s unparalleled capacity to nurture the aspirations of forward-thinking founders within the Polygon ecosystem.
Ajit Tripathi, a core contributor at Hadron FC, noted that the community provided the ideal mix of “support, capital, and ambiance.”
Initially part of Polygon Labs, the principal developer of various Polygon layer-2 networks built on Ethereum, P2 Ventures transitioned into an independent unit with its own 10-person team late last year, rebranding itself as P2 Ventures.
Source: coindesk.com
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Blockchain
Blockchain sleuth uncovers identity of PrismaFi’s hacker, who stole $11m
Blockchain investigator ZachXBT uncovered the purported perpetrator behind the PrismaFi breach, which resulted in the protocol losing $11.1 million worth of cryptocurrency. Through a series of posts, ZachXBT disclosed that the individual behind the attack, identified as 0x77 (or Trung), may be connected to several other breaches.
The Prisma team initially detected a sequence of transactions on the MigrateTroveZap contract in March, ultimately resulting in a loss of 3,257 ETH (equivalent to $11.1 million at the time). Initially, the attacker communicated with the Prisma deployer, claiming the attack was a white-hat initiative. However, all funds were subsequently transferred to Tornado Cash, a sanctioned cryptocurrency mixer.
The attacker then made audacious demands, including a $3.8 million (34%) white-hat bounty, significantly higher than the industry standard of 10%, as noted by ZachXBT, who highlighted that this demand was essentially extortion, given the insufficient assets in the treasury to reimburse users.
Further investigation revealed that the attacker’s address received funds via FixedFloat and was subsequently traced to Arbitrum, a layer-2 solution on Ethereum. By analyzing timing, ZachXBT determined that the attacker’s address was linked to withdrawals on TRON, including those from the Bybit cryptocurrency exchange.
The investigation also unveiled connections to prior breaches, such as the Arcade_xyz breach from March 2023 and the Pine Protocol breach from February of the current year. The attacker, utilizing the alias 0x77 on Telegram, remained active and had ties to the deployer of @modulusprotocol, further solidifying the connection between each incident.
Furthermore, the investigator disclosed conducting an analysis of the attacker’s personal information, including phone numbers and emails, which indicated a proficient technical background. All collected personal data has been forwarded to the Prisma team, who are pursuing legal action against the hacker in Vietnam and Australia, ZachXBT added.
Source: crypto.news
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Blockchain
Bybit CEO: “Institutions Driving Today’s Crypto Bull Market” – At Blockchain Life 2024 Dubai
During a discussion among industry leaders at the Blockchain Life conference in Dubai, Bybit CEO Ben Zhou emphasized the preparedness and sophistication of contemporary cryptocurrency exchanges (CEXs). Zhou, who co-founded Bybit in 2018, now stands at the helm of one of the world’s top three exchanges by trading volume.
At the event, Zhou shed light on various facets that underscore the current era of crypto maturity. “From Bybit’s standpoint, this ongoing bull market has been primarily propelled by institutional involvement… Our collaboration with third-party custodians like Copper and Fireblocks led to a 186% increase in institutional capital flows last year,” Zhou noted. He highlighted the pivotal role of enhanced infrastructure and the approval of Bitcoin spot ETFs in facilitating institutional participation in the crypto market.
Zhou has overseen meticulous upgrades to Bybit since the previous crypto bull run in 2021, enabling institutional investors to deploy larger capital pools. “Bybit boasts a highly versatile trading system that accommodates trading of any token against any other,” Zhou remarked during his live address on the main stage. “This affords our institutional clients a plethora of tools, enabling them to engage in spread trades, arbitrage funding rates, and various sophisticated trading strategies. This capability has facilitated the influx of new capital into the crypto space.”
Furthermore, Zhou highlighted the evolution of service reliability amidst market volatility. “Our risk management and system resilience have undergone continuous enhancements,” he affirmed. “Even during turbulent market conditions, Bybit maintains its stability.” This stability serves as a testament to the advanced infrastructure supporting both institutional investors and the exchange’s 25 million retail users.
Zhou also emphasized Bybit’s efforts to empower retail clients with access to products that simplify sophisticated trading strategies. “We offer a unique product known as perpetual protect, which utilizes options contracts to safeguard perpetual positions from losses,” Zhou explained. “Additionally, our advanced Unified Trading Account (UTA) design provides traders with a competitive edge in the market.” These initiatives aim to demystify derivatives and options, making complex financial instruments more accessible and comprehensible to a broader audience.
As the crypto market continues to mature, Bybit remains at the forefront, spearheading innovations that align with evolving market trends and regulatory standards. This proactive stance not only signifies a significant milestone for Bybit but also underscores the overall advancement of the crypto exchange industry.
Source: prnewswire.com
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