Matter Labs has recently taken a significant step towards decentralizing its zkSync protocol. zkSync is a layer-two blockchain solution designed to scale the Ethereum ecosystem. It has gained popularity within the industry and currently supports over 200 projects. Since its launch, zkSync has processed more than 8.8 million testnet transactions, showcasing its potential to handle
Stablecoin issuer Paxos recently released a transparency report on its Ethereum-based stablecoin, PayPal USD (PYUSD). The report highlights that the coin is fully backed by assets, providing detailed information about the assets held and their value. This article aims to critically analyze the report and delve into the implications of its findings. According to the
The layer-2 blockchain ecosystem powered by zero-knowledge (ZK) proofs is expanding with the entrance of Manta Network. This new player brings a ZK-as-a-service platform called Manta Pacific, which is designed to support Ethereum Virtual Machine (EVM)-native decentralized applications (DApps) using ZK-proof technology. Manta Pacific offers a software development kit and ZK library that grant developers
Ethereum staking protocol, Lido Finance, recently came under scrutiny due to a security flaw in its token contract. While the protocol claims that no funds were compromised, the incident raises concerns about the vulnerability of ERC-20 tokens in general. According to blockchain security firm SlowMist, Lido DAO’s token contract allows for “fake deposit” attacks on
The Ethereum ecosystem has seen incredible growth and development in recent years, but one of the lingering challenges has been the high cost of rollups. However, there is hope on the horizon with the emergence of proto-danksharding. In an exclusive interview with Cointelegraph Magazine, Nicolas Liochon, the head of zkEVM Linea at Consensys, shared insights
In a recent announcement, the Federal Bureau of Investigation (FBI) revealed that the $41 million hack of crypto gambling site Stake was orchestrated by the North Korean Lazarus Group. This notorious group has been responsible for stealing over $200 million worth of cryptocurrencies in 2023. Stake is a popular crypto gambling platform that offers a
In a research paper published by Ethereum co-founder Vitalik Buterin, the potential of privacy pool systems to enhance privacy in financial transactions is explored. The paper delves into the concept of zero-knowledge-proof technology and its ability to dissociate users from illicit funds. This article will provide an analysis of the paper’s key findings and discuss
Global payments processor Visa is making significant strides in the adoption of USD Coin (USDC), a stablecoin, as it expands its offering. By integrating USDC issued on Ethereum and Solana into its ecosystem, Visa can leverage its treasury and settlement systems to bridge traditional finance with the world of Web3. This move not only improves
Crypto gambling site Stake.com recently encountered a significant security breach, resulting in $16 million in suspicious withdrawals on September 4th. The incident has been flagged as “suspicious transactions” by the security platform, Cyber Alerts. The withdrawing account, named “Stake.com Hacker” on Etherscan, suggests that the funds may have been obtained through a stolen private key.
The recent agreement among Ethereum staking services to impose a 22% limit on all validators is a step towards ensuring fair markets and decentralization. This move by providers such as Rocket Pool, StakeWise, Stader Labs, and Diva Staking is aimed at preventing any single entity from owning a majority stake in the Ethereum staking market.