Blockchain
Astar partners with Polygon to deploy its zkEVM testnet, the network’s solution for interoperability
Astar Network, a leading blockchain platform on Polkadot creating a cross-chain smart contract environment to support enterprises and dApp builders, joins forces with Polygon to launch zKatana, the testnet for its layer-2 scaling solution.
Blockchain scalability presents the challenge of balancing decentralization, security, and transaction capacity within networks and protocols. This has led to the development of layer-1 and layer-2 scaling solutions, each tasked with different responsibilities and functions. Layer-1 solutions modify the base blockchain protocol to directly boost transaction throughput. In contrast, layer-2 solutions, such as state channels and sidechains, offload transactional work to auxiliary systems, reducing the load on the primary blockchain and boosting efficiency.
Astar’s introduction of zkEVM and its partnership with Polygon primarily focuses on layer-2 solutions, enhancing interoperability and scalability without compromising decentralization or security. Its deployment aims to ensure Ethereum state continuity while providing verifiable data, delivering a reliable blockchain solution tailored for global enterprises. As part of its Astar Supernova zkEVM launch, it effectively addresses scalability issues while enhancing security and privacy, facilitating trustless interoperability abilities. Its key attributes include:
- Speed and Scalability: Through zero-knowledge technology, Astar zkEVM ensures seamless operational stability, even during high transaction volume periods.
- High EVM Equivalency: Astar zkEVM is equivalent to Ethereum’s EVM, offering greater scalability when working with existing Ethereum tools and clients.
- Security: Building upon Ethereum’s security mechanisms, Astar zkEVM establishes a robust and secure environment for executing smart contracts and processing transactions.
- Interoperability: Trustless interoperability, making integrations with Ethereum-based applications and assets smoother than ever.
- Cost Efficiency: Astar zkEVM significantly reduces transaction costs compared to Ethereum, delivering economic benefits for users and companies.
zkEVM deployment serves as an expansion strategy for the Astar ecosystem, enriching developer choices and reinforcing connections with leading Ethereum ventures. Astar’s collaboration with Polygon Labs and its zkRollup technology marks a pivotal achievement in promoting interoperability and unlocking a diverse spectrum of applications. It’s a key component of Astar 2.0, a transformative phase that expands its capabilities to support multiple chains and smart contract technologies, unlocking the full potential of Web3 applications.
Astar 2.0 showcases the project’s dedication to Web3 innovation and solidifies its position as a leading Polkadot parachain, marked by initiatives including the Supernova launch, a Japanese ecosystem expansion, and the Astar Tokenomics 2.0 upgrade.
As a pioneering parachain with a total value locked (TVL) exceeding $200 million, Astar has excelled through strong partnerships and a pilot program with major Japanese enterprises including Sony and Toyota. Its primary goal is to promote expansion and interoperability in the blockchain industry, providing developers and enterprises with greater options. By adopting zkRollup technology, Astar prioritizes security by enabling trustless interactions and safeguarding sensitive data, serving as a significant step forward for the entire blockchain sector.
“Astar is set to illuminate the path to an exciting future in the blockchain space,” affirms Sota Watanabe, CEO of Astar Network. “Our journey at Astar has been a remarkable evolution, driven by our unwavering commitment to advancing the blockchain landscape. As we transition to Astar 2.0, we are poised to unlock a new era of possibilities in the Web3 industry to global audiences.”
“Astar’s impressive journey to 2.0 signifies a pivotal moment that will ignite a phase of unprecedented growth,” says James Wo, founder of Digital Finance Group, or DFG, a global blockchain and digital asset investment firm, itself an early backer of Astar Network. “The prospects for Astar in Japan, the Asia-Pacific region, and on a global scale are exceptionally bright. We anticipate Astar’s ecosystem expanding, bringing the benefits of Web3 to millions of users.”
Blockchain
Ebang International Reports Financial Results for Fiscal Year 2023
Blockchain
FBI warning against crypto money transmitters ‘appears’ to be aimed at mixers
A recent warning from the FBI regarding a crypto money transmitter seems to be aimed at the Samourai Wallet. This development highlights the increasing scrutiny and regulatory challenges faced by privacy-focused cryptocurrency wallets and services.
The FBI warning raises concerns about the use of certain cryptocurrency wallets that prioritize user privacy and anonymity, potentially enabling illicit activities such as money laundering and terrorist financing. While the warning does not explicitly name any specific wallet or service, the language used suggests that the Samourai Wallet may be the target of the advisory.
Samourai Wallet is known for its focus on privacy and security features, including coin mixing and stealth addresses, which aim to enhance user privacy and protect against surveillance and tracking. However, these features have drawn the attention of law enforcement agencies and regulators, who are increasingly concerned about their potential misuse by criminals.
The FBI warning underscores the challenges faced by privacy-focused cryptocurrency wallets in navigating regulatory compliance and law enforcement scrutiny. While these wallets aim to empower users with greater control over their financial privacy, they must also address regulatory requirements and law enforcement concerns to avoid legal and reputational risks.
As the cryptocurrency industry continues to evolve, privacy-focused wallets like Samourai Wallet will need to strike a balance between privacy and compliance, ensuring that they can provide robust privacy features while also addressing regulatory concerns and maintaining transparency with authorities. This delicate balance is essential to foster trust and confidence among users and regulators alike, ultimately enabling the continued growth and adoption of privacy-enhancing technologies in the cryptocurrency space.
Source: cointelegraph.com
The post FBI warning against crypto money transmitters ‘appears’ to be aimed at mixers appeared first on HIPTHER Alerts.
Blockchain
Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets
Pantera Capital is reportedly planning to raise $1 billion for a new fund that offers exposure to various crypto assets, as reported by Blockchain.News. This ambitious fundraising initiative underscores Pantera’s continued confidence in the potential of the cryptocurrency market and its commitment to providing investors with diversified investment opportunities in the digital asset space.
The new fund from Pantera Capital aims to capitalize on the growing demand for exposure to cryptocurrencies and blockchain-based assets among institutional and retail investors. By offering a comprehensive portfolio of crypto assets, the fund seeks to provide investors with access to a wide range of investment opportunities, spanning cryptocurrencies, tokens, and other digital assets.
Pantera’s decision to raise $1 billion for the new fund reflects its optimistic outlook on the long-term growth prospects of the cryptocurrency market. With increasing mainstream adoption and institutional interest in cryptocurrencies, Pantera sees significant potential for value creation and capital appreciation in the digital asset space.
As one of the leading blockchain-focused investment firms, Pantera Capital is well-positioned to attract capital from investors seeking exposure to the cryptocurrency market. The firm’s track record of successful investments and its experienced team of investment professionals are likely to bolster investor confidence and support for the new fund.
Pantera Capital’s plans to raise $1 billion for its new fund underscore its commitment to driving innovation and growth in the cryptocurrency market. As the fund attracts capital and deploys it into promising investment opportunities, it is poised to play a key role in shaping the future of the digital asset ecosystem.
Source: blockchain.news
The post Pantera Capital Plans to Raise $1 Billion for New Fund Offering Exposure to Crypto Assets appeared first on HIPTHER Alerts.
-
Blockchain Press Releases5 days ago
DeFi Lens builds advanced Generative AI for Technical Analysis
-
Blockchain5 days ago
Venezuela’s Oil Giant Turns to Crypto as US Sanctions Bite Again
-
Blockchain5 days ago
Halving weakness sees $206 million exit crypto funds, Bitcoin miners pivot to AI
-
Blockchain2 days ago
Existing Blockchains Can’t Adopt Post-Quantum Cryptography Without Significant User Impact, Says Johann Polecsak
-
Blockchain3 days ago
39% of Canada’s institutional investors have exposure to crypto: KPMG
-
Blockchain4 days ago
Global Payment Gateway Industry Report 2024: Seamless Integration with In-Game Virtual Currency Systems Enables Payment Gateways to Contribute to the Monetization Strategies of Game Developers
-
Blockchain6 days ago
PairedWorld Earns Blockchain Award Nomination, Secures $1.5 Million in Private Token Sales, and Welcomes BlackRock Venture Partner to Advisory Board
-
Blockchain5 days ago
PairedWorld Earns Nomination for Best Blockchain Project for Social Impact, Secures $1.5 Million in Private Token Sales, and Welcomes Paul Taylor Who Is a Venture Partner at BlackRock to its Advisory Board