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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Nocturne v1 goes live on Mainnet, introducing private accounts for Ethereum users
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BIS research reveals privacy as crucial factor in boosting users’ adoption of CBDCs
Op-Ed:
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Reuters publishes article exploring the synergy between AI and privacy regulations
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Legal experts examine business implications as United States rolls out new privacy laws
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Chelsea Manning proposes that technology tools can outperform laws in safeguarding users’ privacy
Zooming into ZK:
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A recap of the highlights at zkDay Istanbul
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Recent Starknet roadmap emphasizes defense against censorship
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Union Labs raised $4 million in seed funding to develop a cross-chain bridge based on ZK proofs
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Vitalik explores ZK-SNARK improvements for better security and efficiency in Plasma scaling solutions
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zkLink launches Layer-3 network, Nexus, to bridge gap between ZK Layer-2s
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Fhenix introduces FHE rollups to enhance privacy on Ethereum
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Kinetex builds on Gnosis, leveraging ZK technology to achieve validation independent of third parties
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LayerZero goes live on Manta Pacific, enhancing interoperability with other networks through LayerZero endpoints
We dive into the details, so you don’t have to:
Nocturne v1 has launched on the Ethereum mainnet, introducing on-chain private accounts for user transactions. Unlike existing privacy tools, Nocturne integrates privacy directly into user accounts, functioning like a smart contract wallet. Now accessible through a dedicated private UI, the protocol plans to transition to a more permissionless protocol in the future.
After a $7 million fundraising round, Fhenix unveils plans for a fully homomorphic encryption (FHE) rollup. FHE ensures data confidentiality during use, allowing encrypted processing in applications like smart contracts. In contrast to zero-knowledge technology, FHE offers complete privacy by conducting data and computation on-chain without a prover. This approach is suited for scenarios involving integrated private data from multiple sources, such as on-chain poker or sealed-bid auctions.
https://x.com/FhenixIO/status/1725167195427115398?s=20
Union Labs secures $4 million in seed funding to develop a zero-knowledge proof-based cross-chain bridge. The funding round, led by Galileo, Semantic Ventures, Tioga Capital, and Nascent, also includes investors like Lightshift and Chorus One. Union Labs' approach eliminates the need for relayers with special authority granted, safeguarding private keys from security threats by preventing hackers from taking control of the protocol. The protocol relies on zero-knowledge proofs for message verification.
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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.