gm, readers.
At Automata we work on protecting privacy and fairness. And in this newsletter, we find more reasons to talk about it. Explore headlines and catch up on the biggest crypto news in Web3 privacy.
This week:
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Monero plummeting against Bitcoin amid regulatory pressure; Developers push for enhanced privacy measures
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DOJ's opposition to Tornado Cash case signals disdain for privacy, legal expert warns
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Nym and Aleo partner to enhance privacy with Layer-0 Mixnet integration
Zooming into ZK:
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Vitalik Buterin introduces Binius, a new approach to efficient ZK Proofs
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Blade Games secures $2.4M seed round led by PTC Crypto and IOSG Ventures to develop modular ZK game engine
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zkSNACKs implements indefinite ban on U.S. users for Wasabi Wallet and related services
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Son of Anthony Scaramucci leads $1.4M funding round for ZK protocol startup Hinkal, valued at $70M
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Avail's Data Availability integration set to boost scalability for Arbitrum, Optimism, Polygon, StarkWare, and zkSync
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Aligned Layer secures $20M to enhance ZK proofs on Ethereum
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Chinese police apprehend suspect in StarkNet airdrop identity forgery case
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Telos Foundation Executive foresees ChatGPT moment for ZK systems amid continued development and adoption efforts
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Alchemy enhances development capabilities with zkSync support
We dive into the details, so you don’t have to:
In a recent blog post, Vitalik Buterin, Ethereum's co-founder, discusses Binius, a novel cryptographic proving system aimed at enhancing the efficiency of zero-knowledge proofs. Unlike STARKs, Binius operates directly over binary code, utilizing multilinear polynomials to conduct cryptographic proofs. By treating data as a hypercube and grid, Binius converts individual values into bits and performs computations to produce an output matrix. This innovative approach seeks to streamline the verification process by enabling more efficient computations. Buterin emphasizes the importance of exploring advancements in ZK-proving, indicating ongoing innovation in the field.
https://x.com/VitalikButerin/status/1784912087098999263
Elsewhere, zkSNACKs, the company behind the privacy-oriented Bitcoin wallet Wasabi Wallet, has announced an indefinite ban on users from the United States due to regulatory uncertainty. This decision comes in the wake of recent arrests of founders of other privacy-focused wallets like Samourai Wallet and Tornado Cash, amidst concerns raised by U.S. authorities regarding the potential for money laundering through such platforms. The ban extends to visiting websites, downloading, and using Wasabi Wallet.
Five prominent Layer 2 projects - Arbitrum, Optimism, Polygon, StarkWare, and zkSync - are joining forces with Avail to integrate its data availability architecture, a move anticipated to boost scalability and efficiency for developers. Led by former Polygon co-founder Anurag Arjun, Avail's data availability layer (DA) ensures secure and transparent access to transaction data, crucial for maintaining transaction integrity and security. The integration efforts, spanning core contributors and frameworks like OP Labs for Optimism, Orbit chain builders for Arbitrum, the Polygon Chain Development Kit, StarkNet-powered Madera rollup framework, and zkSync's ZK Stack, signify a collective effort to address blockchain's data availability challenges.
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This newsletter is for informational purposes only. It is not intended to be a substitute for professional financial advice or interpreted as investment advice. Cryptocurrencies are volatile assets and you should always do your own research before making any informed decisions when investing or trading.