Colombian President Promises to Cut Rent Taxes for Crypto Firms 8308

Colombian President Ivan Duque has recently promised to cut taxes for cryptocurrency and blockchain startups, local newspaper El Tiempo reported Wednesday, August 29. Duque delivered an opening message during ANDICOM, an international congress on information and communications technology (ICT) held annually in Cartagena de Indias, Colombia. A recording of his speech is now available on YouTube.

President confessed that he was “obsessed” with technology, especially with robotics and artificial intelligence (AI). He further stressed that Colombia needs its own regulator for the ICT industry and promised to establish a high council for the transformation and digital society.

According to Duque, the use of advanced technologies might help the state tackle corruption along with improving such areas as security, justice and medicine. He proposed to leverage blockchain and AI to track public funds and detect abnormalities.

Moving on to the crypto industry, Duque promised to relieve cryptocurrency-related businesses of rent taxes for as long as five years, provided they generate a certain number of new jobs.

Ivan Duque is the current president of Colombia. He took office in August 2018 after winning the elections earlier in May. The politician has a strong financial background, previously holding significant positions in the country’s Ministry of Finance and Inter-American Development Bank.

Colombian senate is similarly optimistic about blockchain, stating that it “could change lives” after a debate in June. In addition to that, a national blockchain association was established in the country in May.

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Portkey Announces Integration of Zero-Knowledge Proofs for Enhanced Identity Management and Security 5534

Portkey, the innovative account abstraction wallet on the aelf blockchain, proudly announces its latest initiative to enhance user security and privacy through the integration of Zero-Knowledge Proofs (ZKPs). This cryptographic technique allows one party (the prover) to prove to another party (the verifier) that a particular statement is true without revealing any additional information, ensuring unparalleled privacy and security for Portkey’s users.

The integration of Zero-Knowledge Proofs (ZKPs) in Portkey’s Web3 wallet and decentralised identity management system promises to offer blockchain users unprecedented levels of provable and tamper-proof identity verification. Portkey will enable users to securely prove their eligibility and compliance with service providers’ requirements without disclosing sensitive personal information. By ensuring digital personas are both distinct and verifiable, Portkey’s adoption of ZKPs aims to bridge the gap between Web2 and Web3 applications, fostering a more secure, privacy-centric, and user-focused internet.

As the prevalence of digital transactions and online interactions increases, it has become even more imperative to protect user data. Portkey’s upcoming integration of ZKPs significantly strengthens its security framework, ensuring that sensitive user information remains confidential and secure. This allows users to engage with digital services confidently, knowing their data is safeguarded by the highest standards of cryptographic security. Portkey’s commitment to privacy and security is a cornerstone of its mission, aimed at establishing a safe and trustworthy digital environment for users navigating the complexities of this increasingly interconnected world.

Introducing SocialLogin

Portkey intends to operate ZKPs through SocialLogin, which encompasses a two-step process: proof generation and verification, for secure transaction validation. In the proof generation phase, the prover creates a proof that confirms the validity of a statement using advanced cryptographic methods. During verification, this proof is evaluated by a verifier who, if the proof is valid, accepts the statement as true without accessing any underlying data. This integration will grant developers the capability to allow users to authenticate themselves on their preferred dApps through their pre-existing social accounts on platforms like Google, Facebook, Twitch, and various other third-party providers.

At the application level, users register with Portkey by logging in with Google credentials and receive an identity token (JWT). This token is sent to the Proving Service, which generates a zk-SNARK proof. The proof is then used to sign transactions on aelf blockchain, where it is verified on-chain. If the proof is valid, the transaction is executed, ensuring enhanced security and privacy for users. At the protocol level, this involves creating a new interface to generate proofs, developing verification functions, and converting proof-based transactions to normal ones while ensuring robust error handling and testing.

This technological advancement for Portkey is critical for enhancing users’ security and privacy as it eliminates the dependence on external verifier services, and solidifies its position as a pioneering force in the realm of digital wallets and decentralised identity management. SocialLogin is currently being developed and intergrated swiftly on Portkey. Soon, users will be able to experience the smooth login and registration process.

Stay updated on Portkey’s news and engage with the Portkey community on:
Website: https://portkey.finance
X: https://x.com/Portkey_DID
Telegram: https://t.me/Portkey_Official_Group
Discord: https://discord.gg/zSBDUV9q

About Portkey

Portkey aims to be the most useful Web2-to-3 Wallet: it targets Web2 projects and provides them with simple, seamless, and scalable access to a complete Web3 ecosystem. While Portkey serves as an Account Abstraction Wallet with intuitive social recovery features, it also promotes Decentralised Identity Technology, enabling Web2 businesses and developers to migrate seamlessly into Web3. It also features aelf’s unique Virtual Address (VA) technical approach, which is cheaper, faster and easier to implement compared to other industry standards.

Galactica.com partners with Zama to revolutionize Web3 identity stack with fully homomorphic encryption 6221

Galactica.com, the official Level 1 (L1) partner of SwissBorg, is thrilled to announce a groundbreaking collaboration with Zama to integrate Fully Homomorphic Encryption (FHE) into its Web3 Identity Stack. This partnership marks the dawn of an era defined by user-centric decentralized applications (dApps) empowered by persistent private identities.

Empowering secure and private data computation

FHE enables computations on encrypted data, ensuring that sensitive information remains secure throughout the process. This cutting-edge technology, combined with zk-SNARKs and zkKYC, allows for selective sharing of data, maintaining privacy while ensuring compliance. Additionally, GuardianNodes facilitate the verification and integration of data across on-chain, cross-chain, and off-chain environments.

Creating persistent private identities and augmented reputations

By leveraging these advanced technologies, Galactica.com provides users with the ability to create persistent private identities and build augmented reputations. This new paradigm allows dApps to adapt to each individual user’s reputation, which is based on the data the user chooses to share. This approach significantly enhances the accuracy and efficiency of peer-to-peer marketing and data markets.

Unlocking new use cases

The integration of FHE and other privacy-preserving technologies opens up a multitude of innovative use cases, including:

  • Data training for Large Language Models (LLM)
  • Reputation Augmented DeFi & SocialFi (RADeFi)
  • SoulDrops (Reputation Augmented Airdrops)
  • Dynamic launchpads
  • New credit derivatives
  • The merger of TradiFi assets into DeFi
  • And more.

Transforming the Web3 landscape for users and builders

The Web3 Identity Stack not only redefines the user experience but also provides builders with the tools to develop dApps that meet local compliance requirements throughout the development process. This transformative capability ensures that dApps are both innovative and compliant, setting a new standard in the Web3 ecosystem.

About Galactica.com

Galactica.com is a leading platform dedicated to advancing Web3 technologies and enabling secure, user-centric decentralized applications. In partnership with SwissBorg, Galactica.com is at the forefront of creating innovative solutions that empower users and builders alike.

About Zama

Zama is a cryptography company building open-source homomorphic encryption solutions for blockchain and AI. Their technology enables a broad range of privacy-preserving use cases, from confidential smart contracts to encrypted machine learning and privacy-preserving cloud applications.

Horizen Labs Launches zkVerify – The Most Efficient Modular Blockchain for ZK Proof Verification 7161

Horizen Labs is proud to announce the official launch of zkVerify, a dedicated zero-knowledge proof verification network designed for settlement optimization.

The launch of zkVerify comes at a critical time when blockchain networks are increasingly seeking efficient and scalable solutions to meet the demands of high transaction volumes and complex operations.

In recent years, web3 developers have embraced modular solutions to optimize the core functions of blockchain protocols — execution, consensus, data availability, and settlement— as individual functions. Modular architectures propose a more efficient alternative to monolithic chains, which combine these features into one protocol. zkVerify is uniquely architected as the most efficient ZK modular solution for the settlement layer that collapses security costs by decoupling proof verification from settlement on L1s.

Horizen Labs estimates $47 million was spent on proof verification in 2023 for zk-rollups on Ethereum alone, and industry studies anticipate zk proof generation will become a $10 billion market by the year 2030. zkVerify removes the cost and complexity of computationally intensive proof verification for developers building with zk-rollups, proposing a critical unlock for the scalability and adoption of decentralized applications. At the outset, zkVerify can be used to verify proofs for Ethereum and Bitcoin L2s with a 91% cost reduction, and will rapidly expand to support multiple blockchain architectures. As zk-rollups continue to gain adoption as a critical scaling infrastructure, zkVerify is introducing a new standard of proof verification for zk-rollups of any kind on any settlement layer.

Key Features of zkVerify

  • Fast Modularized Process: Allows blockchain networks to offload the computationally heavy and expensive process of proof verification, enabling them to focus on their primary functionalities and stay ahead of their competition.
  • Cost-Effective Proof Verification: Reduces the cost of proof verification by up to 91%, a change that could have saved ZK Rollups over $42.8 million in 2023 alone.
  • Streamlined and Easy Integration: Seamlessly integrates with existing blockchain ecosystems and multiple SNARK proving schemes, minimizing technical overhead with a developer-friendly environment.

“The zkVerify platform is not just about reducing costs—it’s about enabling innovation and scalability in a way that wasn’t possible before,” said Rob Viglione, Co-founder and CEO of Horizen Labs, “by offloading proof verification, we allow developers to optimize settlement through a modular approach, unlocking more resources and value for both developers and users.”

zkVerify is Live on Testnet

Designed for seamless integration with existing blockchain networks, zkVerify minimizes technical overhead and provides a developer-friendly environment for proof verification across a wide range of zk-rollups and settlement layers. Built by Horizen Labs, the development studio behind the EVM-compatible Horizen network, zkVerify can also be used by builders within the Horizen ecosystem. Leading zk and web3 projects like Gevulot, Caldera, and Gateway.fm will be some of the earliest networks using zkVerify for proof verification.

zkVerify is now live on testnet and can be accessed through https://zkVerify.io. Web3 developers are invited to explore how zkVerify can enhance their operations and contribute to the scalability of their projects.

About Horizen Labs

Founded in 2019, Horizen Labs is a leading blockchain technology company specializing in zero-knowledge cryptography. Dedicated to scaling decentralized networks, Horizen Labs is elevating blockchain technology to unprecedented levels of efficiency. By focusing on developing next-gen, modular architectures, Horizen Labs is setting new standards for performance, security, and cost-effectiveness. Horizen Labs is trusted by industry giants such as Yuga Labs, Animoca Brands, and Offchain Labs. Additionally, it is the development company engaged by the Ape DAO and Horizen DAO to develop leading projects such as ApeChain and Horizen. Horizen Labs is a globally distributed team with offices in Milan and New York City.

For more information, users can visit https://horizenlabs.io.

Fluid Tokens Launch First Dex for Runes 7513

FluidTokens is proud to pioneer the first decentralized exchange (DEX) tailored specifically for Runes.

FluidTokens, a Swiss-based company, is at the forefront of transforming traditional finance through permissionless DeFi solutions. With a focus on UTXO blockchains like Bitcoin and Cardano, FluidTokens offers a diverse range of innovative financial services that empower users to leverage their assets securely and transparently.

The Runes Protocol, conceived by Casey Rodarmor, the visionary behind Ordinals, represents a significant leap forward in the Bitcoin ecosystem. Runes made their market debut on April 20, coinciding with the Bitcoin halving. The launch sparked a frenzy among investors, leading to a surge in transaction fees and record-breaking earnings for Bitcoin miners, surpassing $107 million in costs within the first week alone.

The Runes Protocol allows users to create and trade meme coins on the Bitcoin blockchain, offering alternatives to both Ordinals and the BRC-20 protocol.

FluidTokens’ DEX for Runes opens up new avenues for liquidity and trading within the Runes ecosystem, fostering a dynamic environment for investors and enthusiasts alike. By bridging the gap between traditional finance and the burgeoning world of DeFi, FluidTokens continues to lead the charge towards a more inclusive and accessible financial future.

As the leading ecosystem on both the Bitcoin and Cardano blockchains, FluidTokens is dedicated to meeting the evolving needs of the crypto community. Our platform offers a trustless and secure environment for users to access a wide array of non-custodial DeFi services, driven by community feedback and commitment to innovation.

“We’re proud to announce that we have created the first 100% permissionless lending protocol that supports Runes and Ordinals along with all the major BTC wallets. The lending protocol doesn’t need any centralised entity or layer 2 to function, thanks to our innovative BitWeave technology. We are currently working on several additional DeFi services that will run directly on Bitcoin Layer. We pride ourselves on usability of what we create and this DEX is proof of that. We’re basically giving you the experience of a Web2 exchange but permissionless,” says Matteo Coppola, CEO and Co-Founder of Fluid Tokens.

About FluidTokens

FluidTokens is the current leading ecosystem on Bitcoin and Cardano blockchains that leverages your assets to offer a world of innovative financial services. This open, trustless and secure ecosystem offers different non-custodial DeFi services for any crypto user, created following the community needs and feedback. FluidTokens is community-centric, prioritising a great user experience – listening to the community suggestions – and allowing everyone to be an active member. As the protocols are non-custodial, any user can be both a liquidity provider and a borrower! The official FluidDAO has been legally established in Switzerland, and the $FLDT token is live on MEXC and Minswap.

For more visit: https://fluidtokens.com/

Anchorage Digital Adds Support for Native DYDX Staking 8163

Institutional crypto platform Anchorage Digital has announced support for native DYDX staking. Now, institutions can stake DYDX from safe and secure custody at Anchorage Digital and earn staking rewards distributed by the protocol in USDC.

As home to the only federally chartered digital asset bank, Anchorage Digital provides crypto custody, staking, and other services for some of the top names in traditional and decentralized finance. As the partner of choice for crypto innovators, Anchorage Digital has supported ethDYDX custody since mainnet launch in August 2021 and native DYDX custody since the launch of the dYdX Chain in Q4 last year. The expansion into staking support marks a major step forward in advancing safe and secure institutional participation in the dYdX ecosystem.

“For many institutions, custody is just the start. Increasingly, institutions want to engage in staking, earn rewards, and contribute to the long-term scaling of innovative networks like dYdX. By adding staking support for its native token, DYDX, Anchorage Digital is proud to help unlock a new era of institutional participation in the dYdX ecosystem.” — Nathan McCauley, CEO and Co-Founder of Anchorage Digital

Anchorage Digital supports hundreds of top assets, which are selected on the basis of institutional demand and must meet rigorous quality and safety standards. Clients can easily stake DYDX to earn staking rewards, with both the underlying assets (DYDX tokens) and staking rewards (USDC tokens) held in safe and secure custody on the Anchorage Digital platform.

“Anchorage Digital’s integration of native DYDX staking initiates a new era of institutional engagement with dYdX. Staking involves more than just the accumulation of USDC rewards; it is a proactive effort to enhance the growth and sustainability of the dYdX ecosystem. This collaboration provides best in class custody solutions and boosts the attractiveness of the protocol.” — Charles d’Haussy, CEO of dYdX Foundation

The dYdX Chain is the world’s leading DeFi protocol focusing on perpetual futures, fully decentralized and community-governed. It distributes 100% of protocol fees to DYDX stakers for bolstering the dYdX Chain’s security. Since its launch six months ago, the dYdX Chain has generated over $136 billion in cumulative trading volume and has distributed over $23 million in USDC as staking rewards to nearly 20,000 stakers, with a current annual return rate of 18% as of May 13, 2024, according to Mintscan. The integration of Anchorage Digital’s staking support for native DYDX enhances institutional interest through Anchorage’s secure and regulated custodial services. This partnership provides a compliant staking solution for DYDX token holders and supports institutional adoption, contributing to the ecosystem’s growth.

About Anchorage Digital

Anchorage Digital is a crypto platform that enables institutions to participate in digital assets through custody, staking, trading, governance, settlement, and the industry’s leading security infrastructure. Home to Anchorage Digital Bank N.A., the only federally chartered crypto bank in the U.S., Anchorage Digital also serves institutions through Anchorage Digital Singapore, Porto by Anchorage Digital, and other offerings. The company is funded by leading institutions including Andreessen Horowitz, GIC, Goldman Sachs, KKR, and Visa, with its Series D valuation over $3 billion. Founded in 2017 in San Francisco, California, Anchorage Digital has offices in New York, New York; Porto, Portugal; Singapore; and Sioux Falls, South Dakota. Learn more at anchorage.com, on X @Anchorage, and on LinkedIn.

About the dYdX Foundation

The dYdX Foundation’s purpose is to support and grow the dYdX protocol ecosystem by enabling communities, developers, and decentralized governance.

The dYdX Chain software is open-source software to be used or implemented by any party in accordance with the applicable license. At no time should the dYdX Chain or its software be deemed to be a product or service provided or made available in any way by the dYdX Foundation. Interactions with the dYdX Chain software or any implementation thereof are permissionless and disintermediated, subject to the terms of the applicable licenses and code. Users who interact with the dYdX Chain software (or any implementations thereof) will not be interacting with the dYdX Foundation in any way whatsoever.

The new energy index trading platform PHPGOV has announced a strategic partnership with leading energy companies to promote the development and application of energy globally 8592

As global demand for renewable energy continues to rise, the new energy sector has become a focal point for development by governments and corporations worldwide. Recently, PHPGOV, a leading new energy index trading platform, announced strategic partnerships with several top energy companies to jointly advance the development and application of new energy globally and contribute to building a clean and sustainable energy future.

PHPGOV, recognized as a pioneer in the new energy sector, is committed to establishing a globally leading new energy index trading platform that offers investors a secure and convenient channel for investing in new energy. By forming strategic alliances with top energy companies, PHPGOV aims to leverage its strengths and consolidate resources to explore development opportunities and innovative models within the new energy sector.

This strategic cooperation will encompass various areas including, but not limited to, technology research and development, market expansion, and industrial collaboration. PHPGOV and its partners will jointly conduct research and innovation in new energy technologies, pushing for breakthroughs and applications to enhance energy efficiency and utilization. Moreover, the parties will intensify market cooperation, collectively penetrate new energy markets, and expand sales channels for new energy products, thus promoting the healthy development of the new energy industry.

Additionally, PHPGOV will engage in industrial collaboration with leading energy companies to build a new energy industrial chain, fostering mutual growth within the industry. The partners will enhance collaboration in project investment, financial operations, and risk management to advance the realization of new energy projects and ensure the sustainable development and profitability of the new energy sector.

For PHPGOV, this strategic partnership is of significant importance. It will not only elevate PHPGOV’s influence and competitiveness in the new energy sector but also accelerate its global expansion. Furthermore, collaboration with leading energy companies will provide PHPGOV with additional resources and support, fueling the platform’s growth and expansion.

For the top energy companies, partnering with PHPGOV represents a crucial strategic decision. As a leader in the new energy index trading platform market, PHPGOV offers extensive industry experience and superior service quality, providing professional services and support to explore opportunities and business models in the new energy sector.

In conclusion, the strategic partnership between PHPGOV and leading energy companies will inject new vitality into the global energy sector, promoting the healthy development and sustainable growth of the new energy industry. PHPGOV is poised to make a positive contribution to building a clean, sustainable energy future.

PHPGOV Exchange Co., Ltd was established in October 2020 in the United States with the company number: 20201931985. The registered address is 1670 Broadway, Denver, CO 80202, United States.