Hong Kong University Receives $20 Mln Research Grant for Payment Systems, Blockchain 4318

The Hong Kong University of Science and Technology Business School has received a $20 million research grant to improve the security capabilities of electronic payment systems, China News reported August 12.

The Hong Kong University of Science and Technology (HKUST) Business School has reportedly partnered with the University of Hong Kong (HKU), the Chinese University of Hong Kong (CUHK), and the City University of Hong Kong (CityU) to work on the research project.

Apart from the enhancement of the electronic payment security system, the parties will also explore blockchain technology applications, and discuss the possibility of Hong Kong’s transformation into a global financial technology hub.

The interdisciplinary research will reportedly be coordinated by professor Tan Jiayin, who is known for his work on the “Strengthening Hong Kong’s Strategic Position as a Regional and International Business Center” with a focus on blockchain, network security, and artificial intelligence (AI). He welcomed the participation of banks as the research will also explore digital currencies and financial product design and distribution services.

In 2017, in order to “significantly reduce the input of human resources and time that trade finance normally requires, and reduce chances of fraud,” the Hong Kong government announced plans to establish a blockchain-powered trade financing system. The system was expected to benefit the country in its participation in China’s Belt and Road Initiative, which aims to promote trade links between China and its global partners.

In June of this year, Alibaba subsidiary Ant Financial, formerly known as AliPay, trialled its first blockchain remittances, sending a transaction between AliPayHK app in Hong Kong and Filipino payment app GCash in three seconds.

Last month, the Hong Kong Monetary Authority and a Ping An Group fintech subsidiary announced the launch of their own blockchain trade finance solution with 21 banks. The solution aims to reduce the amount of time and bureaucracy involved in signing up new fledgling businesses for banking services by smoothing over transactions.

Previous ArticleNext Article

AnonExch.io: Pioneering Untraceable Cross-Chain Crypto Swaps with Minimal Fees. We support most of the major coins, such as BTC, ETH, XMR, USDT, DAI, SOL and more is being implemented regularly 7134

Bitmapp

In the ever-evolving landscape of cryptocurrency, security, privacy, and efficiency are paramount concerns for users engaged in digital asset exchanges. AnonExch emerges as a game-changer in the crypto space, offering untraceable cross-chain crypto swaps at the lowest fees possible through its innovative algorithm. This article explores the features, advantages, and the unique selling proposition of AnonExch, accessible at https://www.anonexch.io.

Untraceable Cross-Chain Crypto Swaps:

AnonExch distinguishes itself by providing users with untraceable cross-chain crypto swaps. Traditional exchanges often require users to link their transactions to identifiable information, compromising privacy. AnonExch addresses this concern by leveraging advanced cryptographic techniques and its proprietary algorithm to facilitate transactions that are practically untraceable. This commitment to privacy aligns with the ethos of blockchain technology, where decentralization and anonymity are highly valued.

17868687857

Lowest Fees in the Industry:

One of the standout features of AnonExch is its commitment to offering the lowest fees in the industry. Traditional cryptocurrency exchanges often burden users with high transaction fees, reducing the overall profitability of trading. AnonExch challenges this norm by implementing a fee structure that prioritizes affordability without compromising on the quality and security of transactions. By optimizing its algorithm, AnonExch ensures that users can enjoy seamless crypto swaps without breaking the bank.

Cutting-Edge Algorithm:

At the heart of AnonExch’s success lies its cutting-edge algorithm, a proprietary technology developed in-house to streamline cross-chain transactions. This algorithm not only ensures the security and privacy of users but also contributes to the platform’s low transaction fees. The use of advanced cryptographic principles and decentralized protocols positions AnonExch as a trailblazer in the crypto exchange landscape, setting a new standard for innovation and user experience.

User-Friendly Interface:

AnonExch understands that accessibility is key in the world of cryptocurrency. To cater to both novice and experienced users, the platform boasts a user-friendly interface that simplifies the process of executing crypto swaps. The intuitive design ensures that users can navigate the platform with ease, making AnonExch an attractive option for those looking to engage in cross-chain transactions without the complexity often associated with crypto exchanges.

288468948587

Security Measures:

Security is paramount in the world of cryptocurrency, and AnonExch prioritizes the protection of user assets and data. The platform employs state-of-the-art security measures, including encryption protocols and multi-signature wallets, to safeguard against potential threats. Users can trade with confidence, knowing that AnonExch places a premium on the security and integrity of their transactions.

Conclusion:

AnonExch stands out as a beacon of innovation in the crypto exchange arena, offering untraceable cross-chain crypto swaps at the lowest fees possible through its cutting-edge algorithm. With a commitment to privacy, affordability, and user-friendly design, AnonExch sets a new standard for secure and seamless cryptocurrency transactions. As the crypto space continues to evolve, AnonExch paves the way for a future where users can trade with confidence and peace of mind. Explore the world of untraceable cross-chain swaps at https://www.anonexch.io and experience a revolutionary approach to cryptocurrency trading.

https://AnonExch.io

Taiko Unveils Latest Testnet “Katla” with Multi-Proofs, Paving the Way for Mainnet Launch 8800

Taiko, an Ethereum layer 2 scaling solutions provider, today has announced it has launched Katla, their Alpha-6 testnet. This testnet features a new rollup design that supports both optimistic rollup and ZK Rollup, forming the foundation of the mainnet launch in 2024.

Taiko is an Ethereum scaling Layer 2 solution and is developing what is called an Ethereum-equivalent ZK-EVM (Also called a type-1 ZK-EVM by Vitalik Buterin). This scaling solution tries to mimic Ethereum as much as possible: it keeps all of its properties and reuses tools and the broader Ethereum architecture as much as possible, making it extremely developer-friendly. This is in contrast to other ZK-EVMs that change large parts of their codebase, drifting away from the original Ethereum architecture.

Taiko is also a based rollup. This means that Taiko does not have a centralized sequencer and instead relies on Ethereum block builders for transaction sequencing. This approach fully inherits Ethereum’s security, liveness, and censorship-resistance.

Katla is laying the foundation for Taiko’s mainnet launch, marking a significant step forward for the project. It will very likely be the last testnet before Taiko’s mainnet launch in early 2024. It will be testing the innovative Based Contestable Rollup (BCR) design, which blends the advantages of optimistic rollups, such as simplicity and low cost, with those of ZK rollups, known for their security and shorter time-to-finality. This powerful combination results in a rollup architecture that can be embraced by a diverse range of dapps, including those with demanding requirements for high throughput and low cost, such as gaming and web3 social applications.

Katla’s standout feature is its ability to upgrade rollups from optimistic to ZK, adapting to changes in technology. This means that as the cost of generating ZK proofs decreases, BCR-based layer 2s can be smoothly transitioned to pure ZK rollups, ensuring long-term suitability. Additionally, Katla simplifies the setup of app-chains within the Taiko tech stack, removing the burden of generating ZKPs for every block for app-chain owners.

Furthermore, Katla pioneers a multi-proof framework, combining different proofs to create a more secure design. This framework aligns with Ethereum’s approach to security and reflects the importance of multi-proofs highlighted by Vitalik. Ethereum co-founder Vitalik Buterin emphasized the need for a robust “multi-proofs” framework to bolster the security of Ethereum rollups at an earlier time.

Katla is going to play a fundamental role, not only in Taiko’s, but also in Ethereum’s future. Being the first Ethereum-equivalent ZK-EVM and based rollup, Taiko believes that the launch of Katla, together with its upcoming mainnet launch, will mark a new paradigm in Ethereum scalability and for rollup security as a whole.

“We are excited to share this latest testnet with our community and partners, aiming to further enhance the scalability and security of the Ethereum network. Taiko is the first Layer 2 to test multiproof solution in a public testnet, aligning with Vitalik Buterin’s vision for Layer 2 security,” said Daniel Wang, CEO of Taiko.

Taiko has had five testnets, each testing out different parts of the protocol. In each of them, Taiko received significant support from tens of thousands of its community members who built dapps, ran their nodes, proposers, and provers, and interacted with the protocol in other ways — all without anyone’s permission.

Taiko has gathered a lot of information and made significant improvements to the protocol throughout the five testnets it has had. Katla will likely be the last testnet Taiko has before its mainnet launch, which is going to look a lot like what it is testing with Katla. But Taiko is still evolving, the next major milestone is Based Booster Rollup (BBR).

About Taiko

Taiko is an Ethereum-equivalent ZK-Rollup, scaling Ethereum by supporting all EVM opcodes in a layer-2 architecture that is decentralized, permissionless, and secure. The team has raised 22 million from top-notch investors such as Sequoia China and Generative Ventures.

The Untamed Power of PoE Takes Over the Blockchain: GODChain 9894

Gorilla DeFi presents GODChain, a transformative blockchain built on the all new Proof of Engagement (PoE) consensus mechanism. Unlike traditional chains, GODChain fosters vibrant SocialFi experiences by prioritizing user participation. Creators and users alike thrive in this decentralized ecosystem, empowered by native tokens earned through genuine engagement, creating a truly decentralized and engaging social media experience.

What is PoE?

Explore the dynamic world of Proof of Engagement (PoE) in action within the CryptGod ecosystem. Users earn engagement points, curate content, and participate in on-chain governance, all while enjoying tokenized rewards and a decentralized content curation system.

Benefits of PoE:

Earn platform tokens: User’s voice has never been more valuable. Active participation earns users platform tokens, opening doors to exclusive features, governance voting, and even trading opportunities.

Shape the platform’s future: PoE is about taking control. High-engagement users participate in on-chain governance, influencing everything from feature development to resource allocation. This is truly a user’s platform.

Build a more positive community: PoE incentivizes meaningful interactions, fostering a thriving community where real connections and insightful dialogues flourish.

The Biggest Staking Platform is Coming Ahead

Gorilla DeFi, the biggest staking platform, is set to go live on January 23, 2024, letting people earn a daily income of 0.9%, and that’s not it the platform offers flexibility with the below mentioned features:

  • 0.9% (Daily) Presale staking reward.
  • Sell presale GOD tokens For USDC anytime during presale on our IDOQS marketplace (intelligent Dynamic order queue system)
  • Presale concludes upon minting 650 million In Reward tokens, that is a period of 3 months. Following this GOD tokens are released for trading on exchanges. Coinciding with the launch of GODChain.
  • Ownership of smart contracts revoked to prevent Any manipulation.
  • GOD Token maintains its stability throughout the presale phase (1 GOD TOKEN = 1 USDC)
  • No locking period for staking, providing flexibility.

And here’s what is truly transformative: users can exit the staking process at any time, thanks to the ingenious Intelligent Queue System (IQS). But what exactly is IQS, and how does it empower such unprecedented flexibility? Let’s dive into the details.

IQS System: How it Tailors Your Investment

Staking of GOD tokens comes with no lock-in period – Users have the freedom to exit the process whenever they desire. This feat is made possible by the innovative IQS system in Gorilla DeFi, enabling users to purchase their initial GOD token amount at a 1:1 ratio with USDC. Furthermore, once all 650 million tokens get minted within the period of 3 months, Gorilla DeFi plans to list the token on an exchange, marking significant news about the project’s stability.

SocialFi Made on GODChain: CryptGOD

CryptGOD is one of the pioneering social media platforms fueled by this GODChain technology, empowering users to connect with like-minded individuals and embrace Internet freedom. The PoE-based GODChain has revolutionized CryptGOD by addressing challenges such as defining engagement, designing the reward system, and scalability. Gorilla DeFi’s collaboration with CryptGOD underscores its commitment to innovation. This brings forth key features, including reputation tracking, decentralized content curation, tokenized rewards, on-chain governance, and mechanisms for Sybil-resistance.

Gorilla DeFi: Trust, Stability, and Genuine Value

The platform stands as a testament to trust, stability, and genuine value, offering numerous opportunities within the Web3 landscape. Join Gorilla DeFi and be a part of this transformative journey. Visit https://gorilladefi.io/ to learn more about the project.

Follow Gorilla DeFi on Social media channels – linktr.ee/gorilladefi

Building on Bitcoin: How Yala Is Transforming BTC’s Potential Into a Reality 10172

In a digital age where cryptocurrency is synonymous with innovative potential, Bitcoin, as the pioneer of decentralization, has often been regarded more as a static store of value than a dynamic asset. Yala emerges as a visionary Bitcoin builder, claiming to have developed a mechanism poised to unlock Bitcoin’s untapped billions. This initiative aims to transform Bitcoin from a passive asset into an active force within the burgeoning Decentralized Finance (DeFi) sector.

Yala’s solution is as bold as it is innovative. By building a native DeFi protocol that operates within the Bitcoin ecosystem, Yala is creating a new paradigm. The protocol seeks to harness Bitcoin’s inherent security and liquidity while introducing the adaptability that has been missing. At the heart of Yala’s strategy is the BRC Module, a pioneering tool adopted by Yala to enable the use of Bitcoin as collateral. This allows Bitcoin holders to engage in the lending, borrowing, and yield farming activities, directly on the Bitcoin blockchain, without the need to first convert their BTC into other tokens or rely on third-party platforms. In addition, Yala’s pioneering intent-centric design for Bitcoin DeFi enables users to achieve their goals to skip the complex processes, with just a few clicks.

Yala’s features are carefully crafted to address the limitations of Bitcoin’s current use cases:

  1. Native DeFi on Bitcoin: By creating a DeFi ecosystem that operates directly on the Bitcoin blockchain, Yala ensures that the security and integrity of the platform are as robust as Bitcoin itself.
  2. Comprehensive DeFi Solutions: Yala introduces a range of services, including lending, decentralized clearing, and asset issuance within the BRC-20 framework. This includes innovative over-collateralized borrowing and a pioneering insurance mechanism to mitigate transactional risks in DeFi.
  3. Pioneering Insurance Mechanism: Addressing transaction delays and challenges in BTC DeFi, Yala’s innovative insurance mechanism integrates profit-sharing and agent-based Takaful models, providing users with independent insurance options, separate from the lending system.
  4. Enhanced Liquidity: Leveraging Bitcoin as collateral in DeFi transactions, Yala aims to unlock billions in idle BTC liquidity.
  5. Decentralization and Security: Yala is committed to maintaining a high degree of decentralization and security, leveraging Bitcoin’s proof-of-work consensus mechanism.
  6. User-Friendly Interface: Yala’s user-friendly and intent-centric design bypasses cumbersome features of Bitcoin’s UTXO model and simplifies Bitcoin DeFi interactions. This design enables easy staking of BTC for stablecoins or increasing BTC holdings without complex processes, making it accessible to all.
  7. Interoperability: Yala plans to integrate with various Bitcoin Layer 2 solutions, starting with BRC and STX, to provide seamless and cost-effective transactions across platforms.

In Q1 2024, Yala is set to significantly advance Bitcoin’s DeFi capabilities. Following the upcoming White Paper release, Yala will continue to enhance its product development and expand its community footprint in January. In February, Yala will invite users to participate in the private beta testing of the Black Module, leading up to the launch and public testing of its testnet in March.

Yala’s potential to unlock dormant Bitcoin value could catalyze a wave of financial innovation, transforming Bitcoin from a static asset to a dynamic currency with diverse DeFi applications. As Yala progresses through Q1 2024, the crypto community awaits the unlocking of billions in latent value, anticipating a fundamental shift in the Bitcoin ecosystem.

About Yala

Yala is at the forefront of re-pioneering Bitcoin’s DeFi Frontier. At Yala, the transformation of Bitcoin into a DeFi powerhouse is underway, harnessing the unmatched stability and security of Bitcoin to construct a revolutionary financial system. The expansion of Bitcoin’s utility involves the incorporation of smart contracts and a Bitcoin-pegged stablecoin, unlocking novel possibilities for enthusiasts of Bitcoin and users of DeFi. The mission at Yala is to establish a connection between traditional finance and decentralized opportunities, ensuring scalability, interoperability, and adherence to regulatory standards. The distinctive governance and community-driven ethos at Yala extend an invitation to all to contribute to and shape the growth of a truly inclusive financial ecosystem. Participation is encouraged in realizing the vision of a world where the liquidity of Bitcoin propels a diverse, secure, and expansive DeFi landscape.

Tellor Aims To Simplify Oracle Protocols For Smart Contracts 9640

Tellor, a leading oracle protocol, envisions a future where oracles must cater to a broad user base spanning various chains. In 2023, the trend of integrating multiple oracles gained momentum, with protocols like Chainlink and Tellor collaborating to offer diverse trade-offs. The Blockchain Oracle Summit, now in its third year, underscores the growing maturity of the conversation around oracle risk.

In the dynamic landscape of DeFi, the role of oracles is evolving rapidly, especially in response to the burgeoning multi-chain ecosystem. In stark contrast to the past, where Ethereum dominated the DeFi space, today’s environment witnesses the maturation of bridges and heightened interoperability, ushering in a wave of diverse chains, including application-specific ones.

Adapting To The Changing Tides & Navigating The BRC20 Expansion

The Tellor team acknowledges the potential for expansion in the Bitcoin ecosystem through the introduction of BRC20 assets. While the timeline for BRC20 integration remains uncertain, Tellor’s inherent flexibility positions it to scale vertically and horizontally within the ever-evolving crypto space. Engaging with potential users and understanding their use-cases forms a crucial aspect of Tellor’s research phase, paving the way for seamless BRC20 asset integration in the future.

Unveiling Tellor Layer: Redefining The Oracle Landscape

Recognizing the need for innovation in response to the dynamic crypto environment, Tellor has embarked on the development of Tellor Layer, an L1 oracle chain. The decision stems from key observations, namely ‘Application-Specific Chains’ (the emergence of numerous chains tailored for specific applications), ‘No Dominant Native System’ (absence of a singular native system, with projects operating as individual L1s or utilizing shared security zones), and finally ‘Advancements In Trustless Bridging’ (disruption of traditional hub-and-spoke models with the rise of light client bridges, blurring the lines between sovereign L2s and L1s).

Tellor Layer brings forth substantial improvements, shifting from incentivizing individual reporters to leveraging the entire validator set for consensus-based data aggregation. This results in faster data point delivery, scalable security with customizable requirements, and seamless data bridging to any chain through a custom light client protocol.

Enhancing Accessibility: User-Friendly Interfaces & Tools

Accessibility is a core focus for Tellor, as demonstrated by the development of user-friendly interfaces and tools to simplify integration processes for developers. By prioritizing approachability, Tellor aims to broaden its audience and facilitate widespread adoption within the crypto community. 

Moreover, when it comes to addressing potentially sensitive data, Tellor adopts decentralized identity verification measures to ensure the reliability and trustworthiness of reporters without compromising user privacy. This commitment aligns with Tellor’s core philosophy of decentralization, where data reporters can be anyone, fostering a robust and censorship-resistant ecosystem.

Beyond practical usage, Tellor additionally places a strong emphasis on educational resources for users, developers, and the community. Through comprehensive documentation, user-friendly guides, and the ‘Tellor School initiative’ in blog and video formats, Tellor strives to deepen understanding and knowledge of decentralized oracles and blockchain technology.

NFT Integration & Custom Data Specifications

Tellor explores the integration of NFT-related data onto the blockchain, acknowledging the challenges of manipulating NFT floor prices. Leveraging the flexibility of its protocol, Tellor allows users to define custom data specifications, enabling the creation of robust price indices for NFTs while providing transparency and validation mechanisms.

Naturally, security is paramount for Tellor, evident in the rigorous audits conducted on all smart contracts by industry-leading security experts. The protocol’s design prioritizes robustness, and the team maintains open communication with auditors to address vulnerabilities promptly. The commitment to security extends to ongoing efforts in testing and addressing potential risks, reinforcing Tellor’s dedication to user safety and protocol integrity.

Future Plans & Korean Market Entry

While Tellor has not yet made significant inroads into the Korean market, the team expresses enthusiasm for building relationships and engaging with the local crypto communities. Conversations are underway to explore opportunities for growth and collaboration in this region, aligning with Tellor’s commitment to fostering global partnerships.

Also, unlike traditional roadmaps, Tellor opts for regular updates through community channels such as GitHub, Discord, X, and YouTube. The highlight for 2024 is Tellor Layer, a standalone oracle blockchain promising limitless scalability, blazing speed, and unparalleled security potential. The team envisions Tellor Layer as a game-changer, allowing seamless integration with an extensive array of chains.

To combat hacking and fund theft, Tellor also employs a proactive approach, collaborating closely with projects to follow best practices. The emphasis is on ensuring multiple verifiable data sources, secure oracle implementations, and robust fallback mechanisms. While Tellor does not hold user funds, its commitment to decentralized principles empowers projects to implement Tellor independently, emphasizing security and reliability.

About Tellor

Tellor is a permissionless and transparent oracle protocol that allows smart contracts to easily obtain any data at any time. The protocol encourages an open, permissionless network of data reporting and validation, ensuring that data can be provided and checked by anyone.

Tellor’s core team became interested in crypto because it promised to change the world, and they wanted to be a part of it. Their intention was to hence develop DeFi products, specifically tokenized derivatives. Tellor therefore allows users to get any market data from any API(s), any data type they may require, and protocol data from a network of reporters running Telliot, an open-source reporting client.

In a space crowded with oracle protocols, Tellor aims to distinguish itself through its commitment to decentralization, censorship resistance, and flexibility. Users can appreciate Tellor’s ability to provide a wide range of verifiable data, easy deployment across diverse chains, and the nuanced consensus approach to subjective data.

As Tellor continues to innovate, engage with global markets, and shape the future of decentralized oracles, its journey unfolds as a testament to resilience, adaptability, and unwavering commitment to advancing blockchain technology.

Waterfall Network Announces New Testnet 8 10254

Waterfall Network, the fast-flowing, layer one (L1), scalable, completely decentralized smart contract platform, today announced the release of its Testnet 8, the final testnet before the protocol’s publicly accessible mainnet, which is launching soon.

Testnet 8 represents the latest version of the Waterfall protocol with optimizations and fixed bugs that have allowed the network to achieve loads of 10,000+ transactions per second. Other optimizations and improvements include faster synchronizations in parallel, improved search for new peers, automatically unlocked validators, improved reliability in optimistic consensus, randomness creation, new transaction gas estimates, and storage optimization.

“The many stages of the testnet have proven integral toward developing a public mainnet that will allow for the most efficient means of creating a protocol with virtually unlimited scalability,” said Sergii Grybniak, Blue Wave CTO and Waterfall Head of Research. “We thank our community for making Waterfall the best layer one architecture it can be and look forward to what we can learn from the final stages of development in Testnet 8.”

In anticipation of the launch of the main network, and based on ongoing user feedback, Waterfall will also continue to develop and implement fast synchronization, simpler mnemonic phrase mechanisms, and reduced consumption of disk space. Waterfall will also release a Testnet 8 hard fork where it will test fork mechanisms and implement stake delegation functionality.

Waterfall protocol is Ethereum Virtual Machine (EVM) compatible, serving the huge existing Ethereum developer base without having to learn new programming languages. Its protocol incorporates an innovative “Directed AcyclicGraph (DAG)” technology that allows for virtually unlimited scalability and portability of decentralized applications (dAPPs) with low processing power requirements that allow anyone to run a validator node from low-cost laptops and later mobile phones.

For more information about the Waterfall network, please visit https://waterfall.network/.

About Waterfall

Waterfall is the leading layer one (L1) architecture to solve speed, security, and scalability, all while offering a truly decentralized governance platform. Waterfall’s Directed Acyclic Graph (“DAG”) achieves and allows it to run a validator node from any device, including low cost laptops and mobile phones. Waterfall is one hundred percent Ethereum Virtual Machine (EVM) compatible, allowing for portability of decentralized applications (dAPPs), and has very low hardware requirements for the participants to become validators.