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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Lighthouse Protocol introduces a smart contract to protect against wallet drainers on Solana
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Optimism launches Span Batches to reduce costs of running a standard rollup OP chain
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MicroStrategy's X account was compromised in a phishing attempt, resulting in the loss of approximately $440k worth of assets
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ZCash experiences a surge in value following the SEC's filing for a privacy-focused ETF
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Worldcoin announces Bug Bounty Program
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Inco launches a modular confidential computing Layer-1
Op-Ed:
- Examining the security risks of implementing ZK-proofs
Zooming into ZK:
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The Ethereum Foundation announces the first round of ZK Grants in collaboration with Aztec, Polygon, Scroll, Taiko, and zkSync
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Reports of Aleo mistakenly sending users’ KYC documents to unintended recipients
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ZKM launches its zero-knowledge virtual machine (zkVM) Alpha Testnet
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Polygon and Starkware introduces Circle STARKs to speed up the proving process for ZK rollups
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Citrea, a Bitcoin ZK rollup, secures $2.7M in seed funding
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Wormhole to incorporate ZK proofs for secure cross-chain transfers, leveraging AMD's FPGA hardware accelerators via 'light client' implementations
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Avail secures $27M in funding for development of the 'Trinity': DA, Fusion, and Nexus
Conversations you missed:
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Manta hosts zkDay at ETHDenver
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Oasis and illumineX delve into discussions on private cross-chain swaps
We dive into the details, so you don’t have to:
Polygon and StarkWare have introduced "Circle STARKs," a breakthrough in zero-knowledge proofs. These proofs aim to speed up transactions and lower costs compared to current methods. Despite being competitors, the collaboration between the two aims to advance Ethereum's scaling solutions. Circle STARKs promise significant improvements in transaction processing speed, with estimates of seven-to-tenfold enhancements.
Users on Aleo must meet KYC/AML requirements and pass Office of Foreign Assets Control screening. Aleo relies on a third-party protocol for KYC, where users' unencrypted data is collected during signup. Reports on X revealed users receiving others' KYC documents via email, prompting data security concerns. Aleo has since admitted to and apologized for the error, citing a copy/paste mistake.
https://twitter.com/AleoHQ/status/1761970260360479214
Wormhole will utilize AMD's FPGA hardware accelerators for scaling cross-chain messaging with zero-knowledge proofs. Leveraging AMD's hardware expertise, Wormhole aims to enhance secure transfers across chains and establish secure communication channels between major blockchains. The integration of zero-knowledge-based light clients underscores Wormhole's commitment to security.
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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.