The emergence of blockchain technology presents an opportunity to reexamine and innovate solutions used in our day-to-day life. Blockchains and, broadly speaking, the digital space fuelled by an artificial intelligence revolution urgently need to establish verifiable human identities to ensure trust, accountability and regulatory compliance. There are a variety of emerging technologies, both on- and off-chain, that could serve as the basis for a functioning trust framework. One solution, in particular, is often referred to as the holy grail of verifications — zero-knowledge Know Your Customer (zkKYC) verification. What are zk and KYC? ZK stands for zero-knowledge, a cryptography term …

What is the future of DeFi and Web3 In both cases, the success of DeFi and Web3 will depend on the continued development of blockchain technology and the willingness of individuals and organizations to adopt these new models. The future is uncertain, but the potential for a positive impact is significant. For DeFi, there is a growing trend toward more innovation in the space, with the introduction of new financial products and services that have the potential to disrupt traditional finance. This includes decentralized exchanges, yield farming and stablecoins. There is also an increasing focus on user adoption and accessibility, …

Manta Network has recently completed the largest trusted setup ceremony ever, with over 4,000 people participating, according to a press release provided to Cointelegraph. The setup was done in order to help create MantaPay, an app that intends to allow for private payments between individuals. 8/ 2022 also saw the launch of the world’s largest trusted setup on Polkadot by @MantaNetwork, spanning 177 countries with over 13,000 participants and counting. This technology is essential for building a better, more secure web that keeps sensitive information private. — Polkadot (@Polkadot) December 31, 2022 According to the company, MantaPay will run on …

The company behind a crypto-satellite module launched in May has announced an additional piece of its blockchain-related infrastructure went into Earth orbit. According to a Jan. 3 announcement, one of SpaceX’s Falcon 9 launch vehicles carried a “cryptographically-equipped” Cryptosat satellite — called Crypto2 — into orbit on Jan. 3. The addition of Crypto2 to the firm’s satellite constellation was part of efforts to make space a “new battleground in the quest for bulletproof cryptography” by expanding its computational power. “The launch of Crypto2 gives us more availability and more powerful spec to support the growing portfolio of use cases in …

The future of blockchain and biometrics merge The merge of blockchain and biometrics has cogent potential. A new emerging ecosystem based on it is here to improve human life as such. The current crypto paradigm is dominated by power- and capital-based schemes. Appearing as an alternative, Sybil-resistant human-based protocols allow reorienting the systems away from such technocratic and oligopolistic narratives, providing true decentralization and democracy. Infrastructures based on human biometrics combined with blockchain are capable of creating innovative decentralized human-based digital verification layers and stable financial networks that rely on the existence of human life itself. Biometric-based blockchain projects formalize …

All revolutions have their dogmas, and the cryptocurrency/blockchain insurgency is no different. It’s an article of faith among crypto adherents that decentralization will solve many of society’s ills, including the problem of governance. Vili Lehdonvirta — an Oxford University social scientist, book author, and former software developer — disagrees. “The underlying technology will change and it’s already changing,” he told Cointelegraph last week. “It’s becoming less blockchain-like, less like the original idea of a trustless system,” especially after the Ethereum Merge, where corporate-like ‘staking’ entities will be needed to “uphold the integrity of the chain,” in his view. Indeed, crypto …

Multi-party computation (MPC) developer MPCH Labs has concluded a Series A funding round totaling $40 million ahead of the planned launch of its Fraction digital asset operating platform later this year. The funding round was led by Liberty City Ventures, the same venture studio that incubated MPCH Labs, with additional participation fro QCP Capital, Global Coin Research, Polygon Studios, Quantstamp, LedgerPrime, Animoca and others. To-date, MPCH Labs has raised $50 million in venture financing. The funding will be used to further develop MPCH Labs’ first product, Fraction, an operating platform that enables institutions to securely safeguard their digital assets. Fraction …

Merkle trees vs. Verkle trees There are many differences between both types of trees, particularly in providing Merkle proofs and Verkle proofs. The whole set of sister nodes in a Merkle tree, including Merkle Patricia trees, constitutes evidence of a value. The proof must include all nodes in the tree with any parent node in common with the node you are attempting to prove. On the other hand, in a Verkle tree, you only need to supply the path plus a tiny bit extra as proof—you don't even need to add sister nodes. The Verkle tree's main idea is that …

The Bank for International Settlements (BIS) Innovation Hub announced the launch of a new set of projects targeting various aspects of traditional and crypto payments — including a cryptocurrency market intelligence platform and security for retail central bank digital currency (CBDC). BIS’s cryptocurrency market intelligence platform will be launched under the Eurosystem Centre initiative, which aims to provide vetted data about crypto projects. One of the key drivers for the project’s commencement is the collapse of numerous stablecoins projects and decentralized finance (DeFi) lending platforms such as Terra and USDD. As explained in the official announcement: “The project’s goal is …

If all goes to plan, Wednesday’s SpaceX rocket launch in Florida will blast a “crypto-satellite” into low Earth orbit, paving the way for secure blockchain-related cryptography in space. Cryptosat, as the name hints, is the company that created Crypto1, a crypto-satellite module hitching a ride aboard a Falcon 9 rocket for SpaceX’s Transporter 5 mission. The blockchain satellite technology has already been trialed on the International Space Station. “We’re basically joining the Uber of spaceflight,” co-founder of Cryptosat Yonatan Winetraub told Cointelegraph, “Everybody goes into the same orbit and we’re one of the passengers.” “SpaceX launch a bunch of satellites, …

By many accounts, quantum computing (QC), which uses atomic “spin” instead of an electrical charge to represent its binary 1’s and 0’s, is evolving at an exponential rate. If QC is ever realized at scale, it could be a boon for human society, helping to improve crop yields, design better medicines and engineer safer airplanes, among other benefits. The crypto sector could profit too. Just last week, for instance, a Bank of Canada-commissioned project simulated cryptocurrency adoption among Canadian financial organizations using quantum computing. “We wanted to test the power of quantum computing on a research case that is hard …

Condensed matter theory physicist and quantum information expert Sankar Das Sarma has argued in MIT Technology Review that quantum computers remain a very long way away from cracking RSA-based cryptography. RSA-Cryptography utilizes algorithms, codes and keys to securely encrypt private data without interference from third parties or malicious actors such as hackers. An example of the methodology in crypto is with the creation of a new wallet that generates a public address and private key. Quantum security is seen as a major issue in the blockchain and crypto sector and it is widely believed that powerful quantum computers will one …