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Blockchain

HPB Hardware Random Numbers serve as Security Cornerstone for Decentralized Applications

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As an innovative blockchain project combining software and hardware for ultimate speed and security, the HPB blockchain proposes a distributed and verifiable hardware random number solution with a well-designed incentive mechanism.

Demand and application for randomness can be seen everywhere in our daily lives such as games, lotteries, sampling, fair distribution and so on.

“Every electronic device needs randomness and needs a lot of it,” Marcin Pawłowski at the University of Gdańsk stated that, “Randomness is necessary whenever you need security. Whenever you want secure communication, a cryptographic key must be generated. It has to be generated randomly so that no adversary can easily guess it… If someone can predict these numbers (it doesn’t have to be perfect–if he or she can guess some of them it’s enough), they can listen to your conversation.”

In our daily life, random numbers serve as an important medium for any fair and secure system.

The Risks in Random Numbers

In fact, the concept of a random number is not difficult to understand. It is a randomly generated number based on probability. Statistically, random numbers exhibit no predictable pattern or regularity, that’s why they are unpredictable and confidential.

In order to generate random numbers, a variety of methods were invented: the use of dice, roulette wheels, coin-flipping and other statistical methods; the use of the computer languages; the use of quantum mechanic principles and so on.

Currently, there are two main ways to obtain random numbers. One way is by only using software. For example, random numbers are obtained by creating a smart contract on Ethereum or by means of multi-stakeholder participation. The other way is to use hardware, where physical properties are directly obtained from the hardware to generate random numbers. However, both ways have their limitations. For instance, the software-based method is inefficient and easily manipulated, while the hardware-based approach makes random numbers unverifiable.

Technically, only the second method produces truly random numbers. The computer-generated numbers are considered “pseudorandom” because knowing how the program develops its computations makes it possible to predict these numbers, which only appear random.

Currently, many existing random number generators actually only produce pseudorandom numbers, whose values have already been predicted by computer programs. This is called a centralized random number generation system. The sequence of random numbers is very risky and will be manipulated by attackers, who can easily change the algorithms in the generation of random numbers. As mentioned above, not all the pseudorandom numbers are cryptographically secure.

The alternative to pseudorandom numbers are true random numbers, which can be derived from physical systems, such as the optical noise in lasers, radioactive decay in atoms, and hardware. A true random number taken from a physical system is not verifiably fair by nature. There is an example provided by Beacon from NIST (National Institute of Standards and Technology), even if the NIST got the entropy that was sampled from the radiation of the universe, they still knew the latest random numbers ahead of others and had the ability to select and interfere with the existing random numbers.

HPBs Decentralized Hardware Random Number Generator

Although the existing random number generators perfectly avoid some potential problems of randomness, uncontrollability and unpredictability, they still suffer from lack of security and verifiable fairness.

Consequently, people want to find a random number generator and release mechanism with provable fairness. A blockchain provides an decentralized network for verifiably fair random number generation. In addition to meeting the basic statistical requirements for random numbers, a useful random number generator on a public blockchain can be unpredictable, uncontrollable, unalterable and verifiably fair.

As an innovative blockchain project combining software and hardware for ultimate speed and security, the HPB blockchain proposes a distributed and verifiable hardware random number solution with a well-designed incentive mechanism.

For the first time, HPB achieves the perfect combination of software and hardware to generate random numbers, and applies it directly on the blockchain. HPB’s hardware random number generator (HRNG) generates random numbers from a physical process within HPB’s BOE (Blockchain Offload Engine). HRNG senses tiny variances in voltage (as little as 0.00001 volts) within an Analog-to-Digital Converter in the BOE. This ever-changing figure is used to help generate the random string of 256 digits and letters added to each new block.

This is in contrast to the paradigm of pseudo-random number generation commonly implemented in computer programs. Generated based on the consensus of HPB’s hardware BOE nodes on HPB MainNet, HPB’s hardware random number is a 100% hardware random number, which is very close to a true random number.

Meanwhile, HPB’s Hardware Random Number Generator has a built-in incentive mechanism to prevent collusion and attacks. More specifically, in HPB’s random number generation, all the nodes are the producers of random numbers, while the smart contract and external API calls are the consumers of random numbers. Guaranteeing the fairness of random numbers, this multi-stakeholder involvement ensures on-chain verification to prevent random numbers from being manipulated or tampered with. Also, the built-in incentive mechanism allows both random generators and consumers to obtain rewards by helping to maintain the random service.

Security Cornerstone for DApps

HPB hardware random numbers not only have the uncontrollable and unpredictable advantages of the traditional hardware random numbers, but also has the characteristics of decentralized incentives, cross-chain, distributed service, transparency, and verifiability.

HPB Partner, Jason Hu, noted that,”HPB’s HRNG can be applied to various decentralized businesses, including DeFi, on-chain games, on-chain lotteries, and HPB’s HRNG will act as security cornerstone for DApps. Now there are already some DApps that use HPB’s HRNG for more secure random number sources. For example, the star DeFi project, Nest Protocol, is already deployed on HPB MainNet. Besides, we are also exploring our HRNG’s integration with internet products.”

Also as disclosed recently, a blockchain project named Randomhub announced a partnership with HPB to provide RaaS (Random as a service) services. Randomhub will use the random numbers sources generated by HPB’s hardware random numbers generator to power various decentralized applications.

Dedicated to blockchain innovation, HPB  Blockchain celebrates its third anniversary!

On July 23, AntChain (formerly Ant Blockchain) under the Ant Group, the parent company of China‘s largest mobile payments business Alipay, officially launched AntChain Station, which claimed to be “the first blockchain solution combining built-in software and a dedicated hardware accelerator globally”.

However, as early as 2017, Xiaoming Wang, the Founder of HPB, had already brought up and designed “the world’s first software and hardware blockchain solution”. In 2018, HPB released the Blockchain Offload Engine (BOE)–the world’s first independently-developed hardware accelerator to effectively integrate software and hardware for empowering a blockchain, as well as the HPB’s Hardware Random Number Generator.

At the time of High Performance Blockchain’s third anniversary, Xiaoming Wang, Founder and CEO of HPB said, “HPB is a fast-growing blockchain project that always leads blockchain innovation globally. Our strength lies in our ability to combine built-in software and a dedicated hardware accelerator for ultimate speed and security, allowing blockchain to come up with more useful applications. HPB will keep promoting HPB hardware random numbers’ application, as well as building a robust DeFi ecosystem. We look forward to working with more partners in the industry to promote blockchain innovations!”

Wladimir P. is a Content Editor at European Gaming Media and at PICANTE Media and covers a large variety of industries.

Blockchain

39% of Canada’s institutional investors have exposure to crypto: KPMG

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According to a report from CoinTelegraph, nearly forty percent of institutional investors in Canada have exposure to cryptocurrency, as revealed by KPMG. This finding underscores the growing acceptance and adoption of digital assets among institutional investors in the country.

The report indicates that a significant portion of institutional investors in Canada are actively investing in or exploring opportunities in the cryptocurrency market. This trend reflects a shift in sentiment towards digital assets, with more investors recognizing the potential for long-term growth and diversification offered by cryptocurrencies.

KPMG’s findings highlight the increasing mainstream acceptance of cryptocurrencies among traditional investors, as well as the growing interest in blockchain technology and its potential applications across various industries. As institutional investors continue to enter the cryptocurrency market, they are expected to bring additional capital and liquidity, further fueling the growth and maturation of the digital asset ecosystem.

Overall, KPMG’s report signals a significant milestone in the adoption of cryptocurrencies in Canada, indicating that institutional investors are increasingly recognizing the value proposition of digital assets and integrating them into their investment portfolios. This trend is likely to accelerate the broader adoption and mainstream acceptance of cryptocurrencies in the country and beyond.

Source: cointelegraph.com

The post 39% of Canada’s institutional investors have exposure to crypto: KPMG appeared first on HIPTHER Alerts.

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Blockchain

BounceBit (BB) Megadrop Now Open: Participate by Subscribing to BNB Locked Products or Completing Web3 Quests

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The BounceBit (BB) Megadrop is now open for participation, as announced by Blockchain.News. This event presents an exciting opportunity for users to earn BB tokens by engaging in various activities, including subscribing to BNB locked products and completing Web3 quests.

Participants can join the BB Megadrop by subscribing to BNB locked products or completing Web3 quests, both of which offer different avenues for earning BB tokens. By participating in these activities, users have the chance to accumulate BB tokens and potentially benefit from the rewards associated with the Megadrop.

Subscribing to BNB locked products allows users to earn BB tokens by locking their BNB assets for a specified period. This not only provides users with an opportunity to earn rewards but also contributes to the liquidity and stability of the BounceBit ecosystem.

Additionally, completing Web3 quests offers users an alternative way to earn BB tokens by engaging in various tasks and challenges related to Web3 technology. These quests provide users with a fun and interactive way to learn about blockchain and cryptocurrency while earning rewards in the form of BB tokens.

Overall, the BB Megadrop presents an exciting opportunity for users to participate in the BounceBit ecosystem and earn rewards by engaging in activities that contribute to the growth and development of the platform. As the Megadrop progresses, participants can look forward to additional opportunities to earn BB tokens and potentially benefit from the rewards associated with this event.

Source: blockchain.news

The post BounceBit (BB) Megadrop Now Open: Participate by Subscribing to BNB Locked Products or Completing Web3 Quests appeared first on HIPTHER Alerts.

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Blockchain

Cronos collaborates with KYVE to revolutionize Blockchain Data

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Cronos, a prominent blockchain platform, has announced a collaboration with KYVE aimed at revolutionizing blockchain data, as reported by CryptoNewsZ. This partnership represents a significant step forward in enhancing the efficiency and scalability of blockchain data storage and retrieval.

The collaboration between Cronos and KYVE seeks to leverage KYVE’s decentralized data storage and retrieval solution to enhance the capabilities of the Cronos blockchain platform. By integrating KYVE’s technology, Cronos aims to address the challenges associated with storing and accessing large volumes of data on the blockchain, such as scalability and cost-effectiveness.

KYVE’s decentralized data storage solution utilizes a network of distributed nodes to store and retrieve data, ensuring high availability and reliability. This approach not only improves the efficiency of data storage and retrieval but also enhances the security and resilience of the blockchain network.

The partnership between Cronos and KYVE is expected to unlock new possibilities for decentralized applications (dApps) and smart contracts built on the Cronos platform. By providing a more efficient and scalable solution for blockchain data management, Cronos aims to attract developers and enterprises seeking to leverage blockchain technology for a wide range of applications.

Overall, the collaboration between Cronos and KYVE represents a significant development in the blockchain industry, highlighting the importance of innovation and collaboration in driving the evolution of decentralized technologies. As the partnership progresses, it is poised to deliver transformative benefits for blockchain data management and accelerate the adoption of decentralized applications and services.

Source: cryptonewsz.com

The post Cronos collaborates with KYVE to revolutionize Blockchain Data appeared first on HIPTHER Alerts.

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