Blockchain
A16z Crypto Launches Jolt to Boost Blockchain with ZK Proofs
Andreessen Horowitz’s crypto division, A16z Crypto, has introduced Jolt, a Zero-Knowledge Virtual Machine (zkVM). This development is expected to improve blockchain systems by using zero-knowledge proofs ability, specifically SNARKs (Succinct Non-Interactive Arguments of Knowledge), to achieve scalable ZK-rollups in the Layer 2 space.
Zero-Knowledge Virtual Machine
Jolt comes in as a remedy in the blockchain technology meant to speed up and improve the scalability of blockchain networks. The foundation of Jolt is SNARKs, an advanced version of zero-knowledge proof that allows the implementation of scalable ZK rollups.
This technology provides the implementation of a major part of computational work and so blockchains can process and verify transactions faster and more securely. Using SNARKs integration speeds up the process of compressing and verifying computational tasks without the verifier undertaking any reproduction of the computations.
A16z Crypto Enhancing Scalability and Security
Jolt’s launch is considered to be a milestone of the A16z Crypto’s deep tech research journey, which is an indication of the venture firm’s move into a part-time computer science researcher and builder. In addition, A16z Crypto wants to contribute to the blockchain ecosystem by releasing Jolt, an open-source software that makes blockchain processes faster and safer.
The design paradigm on which Jolt is built adds simplicity for functionality extension and auditing, allowing developers to create security attributes. Moreover, Jolt is 2X faster than existing zkVM solutions, which means that the performance improvement is huge. This makes the development and execution of blockchain applications completely different.
A Catalyst for Blockchain Evolution
Simultaneously, Jolt is used together with Lasso, another technology from A16z Crypto that implements a fast prover system for rollups by using a ‘lookup argument.’ This synergy is crucial for enhancing the ability of blockchain applications to scale, where sophisticated operations can be undertaken off-chain but still ensure on-chain verification integrity.
Nevertheless, Jolt’s use cases may go beyond enhancing the sustainability and efficiency of blockchain systems. It is also applicable in Layer 2 blockchains, cross-chain bridges, and other sectors where effective and verifiable computations are needed.
The forays of Andreessen Horowitz in deep tech research through the Jolt and Lasso projects mirror the firm’s commitment to advancing the blockchain industry. With open-source technologies to solve the issues related to blockchain scalability and security, A16z Crypto paves the way for the next generation of blockchain development.
Source: coingape.com
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Blockchain
United States B2C E-Commerce & Online Payments Market Report 2024 – Retail E-Commerce Sales are Poised to Surpass EUR 1.5 Trillion by 2027
MicroStrategy has increased its Bitcoin holdings to 214,400 BTC with a recent purchase of $7.8 million worth of the cryptocurrency. This move further solidifies MicroStrategy’s position as a major institutional holder of Bitcoin and demonstrates its continued bullish outlook on the digital asset.
MicroStrategy, a publicly traded business intelligence firm, has been actively accumulating Bitcoin as part of its treasury strategy, viewing the cryptocurrency as a long-term store of value and hedge against inflation. The recent purchase of $7.8 million worth of Bitcoin adds to the company’s already substantial holdings, reaffirming its confidence in the future potential of the digital currency.
MicroStrategy’s ongoing accumulation of Bitcoin reflects a broader trend of institutional adoption and investment in the cryptocurrency space. As more companies recognize the value proposition of Bitcoin as a hedge against economic uncertainty and fiat currency devaluation, they are increasingly allocating funds to acquire and hold the digital asset.
Overall, MicroStrategy’s decision to boost its Bitcoin holdings with a $7.8 million purchase underscores the company’s conviction in the long-term viability and potential of Bitcoin as a strategic asset. This move is likely to further encourage other institutions to explore Bitcoin as a component of their investment portfolios, driving continued growth and adoption in the cryptocurrency market.
Source: crypto.news
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PollBits is redefining crypto trading standards with its industry-leading features and services. This platform is making waves in the cryptocurrency trading space by offering innovative solutions and setting new benchmarks for excellence.
PollBits stands out from other crypto trading platforms by introducing cutting-edge features and services that cater to the needs of traders and investors. By prioritizing user experience and functionality, PollBits is enhancing the trading experience and empowering users to make informed decisions in the dynamic cryptocurrency market.
PollBits’ commitment to excellence and innovation is driving its success and setting it apart as a leader in the industry. With its focus on providing industry-leading features and services, PollBits is positioning itself as a go-to platform for traders seeking a reliable and user-friendly trading experience.
Overall, PollBits’ redefinition of crypto trading standards underscores the rapid evolution and maturation of the cryptocurrency industry. As platforms like PollBits continue to push the boundaries of innovation, traders and investors can expect greater accessibility, transparency, and efficiency in cryptocurrency trading, ultimately contributing to the growth and adoption of digital assets worldwide.
Source: cryptonews.com
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