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
Glidelogic Corp. Announces Revolutionary AI-Generated Content Copyright Protection Solution
Blockchain
Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them
The financial landscape is rapidly evolving, with the integration of blockchain technology and cryptocurrencies becoming more prominent. Among these, Ethereum ETFs (Exchange-Traded Funds) have emerged as a significant investment vehicle, offering exposure to the Ethereum blockchain’s native cryptocurrency, Ether (ETH), without requiring direct ownership. However, it’s crucial to understand that Ethereum ETFs are distinct from the blockchain itself and serve different purposes in the investment world.
Understanding Ethereum and ETFs
Ethereum: A decentralized platform that enables the creation and execution of smart contracts and decentralized applications (dApps). It operates using its cryptocurrency, Ether (ETH), which fuels the network.
ETF (Exchange-Traded Fund): A type of investment fund that holds a collection of assets and is traded on stock exchanges. ETFs can include various asset classes, such as stocks, commodities, or bonds.
Ethereum ETFs: The Intersection of Traditional Finance and Cryptocurrency
An Ethereum ETF provides a way for investors to gain exposure to the price movements of Ether without directly purchasing the cryptocurrency. This is achieved through an ETF structure, where the fund holds assets linked to the value of Ether, and investors can buy shares of the ETF on traditional stock exchanges.
Key Features of Ethereum ETFs:
- Indirect Exposure: Investors gain exposure to Ether’s price changes without needing to manage or store the cryptocurrency themselves.
- Regulatory Compliance: Unlike the relatively unregulated cryptocurrency market, ETFs operate under the oversight of financial regulators, offering a layer of investor protection.
- Accessibility: Ethereum ETFs are available through traditional brokerage platforms, making them accessible to a broader range of investors.
Why Invest in an Ethereum ETF?
- Diversification: Including an Ethereum ETF in a portfolio can provide exposure to the cryptocurrency market, potentially enhancing diversification beyond traditional assets.
- Convenience and Familiarity: ETFs are a familiar investment product, simplifying the process of investing in cryptocurrencies.
- Professional Management: ETF managers handle the investment decisions, including the buying and selling of assets, which can be advantageous for those less familiar with the cryptocurrency space.
- Regulatory Oversight: ETFs are subject to regulatory scrutiny, potentially offering more safety and transparency compared to direct cryptocurrency investments.
- Potential for Growth: As the cryptocurrency market grows, ETFs linked to assets like Ether may benefit from rising prices.
Key Differences Between Ethereum and Ethereum ETFs
While both are related to the Ethereum blockchain, Ethereum itself and Ethereum ETFs represent different forms of investment:
- Ethereum (ETH):
- Direct ownership of the cryptocurrency.
- Full exposure to Ethereum’s features, including staking and network participation.
- Traded on cryptocurrency exchanges.
- Highly volatile and largely unregulated.
- Ethereum ETF:
- Indirect exposure through shares representing Ether’s value.
- Traded on traditional stock exchanges under regulatory oversight.
- Offers a more stable and familiar investment structure.
- Typically lower volatility compared to direct cryptocurrency ownership.
Future Considerations for Ethereum ETFs
The approval and launch of Ethereum ETFs mark a significant milestone in bringing cryptocurrencies closer to mainstream finance. They offer a convenient and regulated means for investors to gain exposure to the growing digital assets market. However, they also come with limitations, such as not allowing direct participation in the Ethereum ecosystem’s innovations, like dApps and smart contracts.
As the market evolves, we may see more sophisticated financial products that better capture the full potential of the Ethereum ecosystem. For now, Ethereum ETFs provide a balanced option for those interested in cryptocurrency exposure within the framework of traditional finance.
In conclusion, while Ethereum ETFs offer a gateway into the world of digital assets, they should be viewed as complementary to, rather than a replacement for, direct investment in the underlying blockchain technologies. Investors should carefully consider their investment goals, risk tolerance, and the unique attributes of both Ethereum and Ethereum ETFs when making investment decisions.
Source: blockchainmagazine.net
The post Ethereum ETFs Aren’t Blockchain But Is A Revolutionary Tech: Top 6 Amazing Reasons To Invest In Them appeared first on HIPTHER Alerts.
Nexo, a leading institution in the digital assets industry, has reinforced its commitment to data security by renewing its SOC 2 Type 2 audit and attaining a new SOC 3 Type 2 assessment without any exceptions. This rigorous audit process, conducted by A-LIGN, a respected independent auditor specializing in security compliance, confirms Nexo’s adherence to stringent Trust Service Criteria for Security and Confidentiality.
Key Achievements and Certifications
- SOC 2 and SOC 3 Compliance:
- SOC 2 Type 2: This audit evaluates and reports on the effectiveness of an organization’s controls over data security, particularly focusing on the confidentiality, integrity, and availability of systems and data.
- SOC 3 Type 2: This public-facing report provides a summary of SOC 2 findings, offering assurance to customers and stakeholders about the robustness of Nexo’s data security practices.
- Additional Trust Service Criteria:
- Nexo expanded the scope of these audits to include Confidentiality, showcasing a deep commitment to protecting user data.
- Security Certifications:
- The company also adheres to the CCSS Level 3 Cryptocurrency Security Standard, and holds ISO 27001, ISO 27017, and ISO 27018 certifications, awarded by RINA. These certifications are benchmarks for security management and data privacy.
- CSA STAR Level 1 Certification:
- This certification demonstrates Nexo’s adherence to best practices in cloud security, further solidifying its position as a trusted partner in the digital assets sector.
Impact on Customers and Industry Standards
Nexo’s rigorous approach to data protection and compliance sets a high standard in the digital assets industry. By achieving these certifications, Nexo provides its over 7 million users across more than 200 jurisdictions with confidence in the security of their data. These achievements not only emphasize the company’s dedication to maintaining top-tier security standards but also highlight its proactive stance in fostering trust and transparency in digital asset management.
Nexo’s Broader Mission
As a premier institution for digital assets, Nexo offers a comprehensive suite of services, including advanced trading solutions, liquidity aggregation, and tax-efficient credit lines backed by digital assets. Since its inception, the company has processed over $130 billion, showcasing its significant impact and reliability in the global market.
In summary, Nexo’s successful completion of SOC 2 and SOC 3 audits, along with its comprehensive suite of certifications, underscores its commitment to the highest standards of data security and operational integrity. This dedication positions Nexo as a leader in the digital assets space, offering unparalleled security and peace of mind to its users.
Source: blockchainreporter.net
The post Nexo Reaffirms Commitment to Data Protection with SOC 3 and SOC 2 Compliance appeared first on HIPTHER Alerts.
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