Category Archives: Smart Contracts
EY launches new blockchain solution to manage business contracts on Ethereum – TradingView
EY has launched a new blockchain-based contract management tool, EY OpsChain Contract Manager (OCM), on the Ethereum public chain. The OCM is designed to help businesses execute complex agreements securely, efficiently, and at a lower cost, the company shared in a press release on Wednesday.
As noted, the OCM uses smart contracts on the Ethereum public blockchain to automate contract execution and enforce agreed-upon terms. It also uses zero-knowledge proofs (ZKPs) to keep confidential data private.
With the new solution, EY aims to eliminate the challenge of managing business agreements across numerous operational and technological divisions within and outside organizations. Traditionally, managing complex contracts across different parties and systems can be slow, expensive, and error-prone.
By utilizing EY OCM, companies can synchronize data with business partners and uniformly enforce key business terms, such as standardized pricing and volume discounts, the company noted. The solution is expected to create a secure and transparent environment for all parties involved.
According to the team, EY's solution can integrate with existing enterprise systems via a standardized API, supporting a wide range of business contract types.
In other words, enterprises of all sizes can use OCM to manage various types of business contracts. Early adopters are currently testing the system with complex Power Purchasing Agreements that incorporate market prices and strike prices.
Paul Brody, EY Global Blockchain Leader, highlights the efficiency of contract automation. He stated:
"Weve identified from past client work that contract automation can improve accuracy while cutting cycle times by more than 90%, and overall contract administration costs by nearly 40%. With our zero-knowledge privacy technology, we have industrialized this capability, and we can now get these benefits at a fraction of the up-front cost. Deploying on a public blockchain is not only cheaper, but also much more scalable, helping enable many-to-many integrations on an open platform with no one company having an unfair advantage by controlling the network.
The latest move follows EY's debut of a beta version of Nightfall in September 2021 in collaboration with Polygon. Nightfall is a privacy protocol that employs an Optimistic Zero-Knowledge Roll-Up to facilitate private transactions on Ethereum.
Nightfall concentrates on enabling private transactions for enterprises on Ethereum, addressing concerns like network congestion and high transaction costs. Its primary use is safeguarding transaction privacy while benefiting from the public Ethereum blockchain's security features.
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EY launches new blockchain solution to manage business contracts on Ethereum - TradingView
What is Ethereum Pectra? Bringing smart contract functionality wallets – OKX
What if managing your Ethereum wallet could be as easy and secure as sending an email? The Ethereum network has introduced a big change that aims to deliver this kind of simplicity to users, called the Pectra hard fork. The update is expected to make transactions safer, bring added stability to the network, and introduce a host of new features.
EIP-3074 is a key part of the Pectra upgrade. It'll change how transactions are handled, making the network more accessible and bring smart contract functionality to wallets. How will these modifications affect the blockchain community? Read on as we explore the Pectra hard fork and what it means for users of the Ethereum network.
Pioneering change: The Ethereum Pectra hard fork aims to change how people use their wallets and make the network more efficient.
EIP-3074 introduction: The proposal allows regular digital wallets to use smart contracts, enabling you to make more complicated transactions that are also safer.
Streamlined transactions: Grouped transactions and paying fees to third parties aim to make usability easier.
Social recovery feature: The update introduces a new way to regain lost funds, using trusted contacts instead of traditional seed phrases.
Community impact: Greater simplicity and safety from Ethereum and its wallets can help increase people's trust in and use of decentralized applications.
The upcoming Ethereum Pectra hard fork is a major milestone in Ethereum's history. It aims to improve wallet capabilities and the overall efficiency of the network. The update, which introduces numerous Ethereum Improvement Proposals (EIPs) and notably EIP-3074 is scheduled for launch in late 2024 or early 2025.
This proposal is designed to change the way Ethereum handles transactions by allowing digital wallets to use smart contracts. EIP-3074 includes capabilities such as grouped transactions, which let users sign a transaction once regardless of how many tasks it contains. The proposal also allows for endorsed transactions, which enable someone other than the asset owner to pay for transaction fees.
These improvements are intended to simplify a user's interactions with the Ethereum network, greatly enhancing the overall experience by removing transaction complexities and expenses. Meanwhile, EIP-3074 comes with a new "social recovery" feature. The feature lets you regain access to your assets without needing the usual seed phrases.
Impressive, but it doesn't end there. These latest upgrades are part of a wider plan to future-proof the Ethereum network and strengthen its status as one of the leading platforms for decentralized applications (DApps) and smart contracts.
While EIP-3074 helps to make Ethereum more secure and easier to use, it's important to be aware of some security implications brought by the proposal's introduction. For example, the AUTH and AUTHCALL opcodes allow for more flexible transaction management but do introduce potential new vulnerabilities.
Formal audits and verification: EIP-3074 went through security audits to ensure safety. Audits are essential for finding and fixing vulnerabilities before they're exploited.
Enhanced user control and recovery: With EIP-3074, you can use digital signatures to give control of your Ethereum accounts to a smart contract. This makes it easier to get your assets back or manage them without risking the safety of your private keys.
Potential for misuse of invoker contracts: One of the main risks associated with EIP-3074 is the potential misuse of invoker contracts. If these contracts aren't implemented securely, they could be exploited to perform unauthorized transactions or access funds without the user's consent.
Need for trusted invokers: Building on the point above, transactions made with EIP-3074 need invoker contracts that can be trusted. Developers should use measures like whitelists to allow only confirmed safe entities to be involved in transactions.
Complexity in transaction authorization: Using more complex ways to approve transactions can make new and old contracts easy to attack. Greater complexity occurs because the AUTH opcode changes who's seen as the "sender" in transactions. Vulnerabilities can arise if this process isn't managed carefully, putting users at risk of attack.
Comprehensive auditing: Regular checks of the EIP-3074 implementation and the invoker contracts are important to protect users. These checks can help identify and fix vulnerabilities before they're exploited.
Strict validation of commits: To avoid issues like unauthorized access or replay attacks, commits must include ways to make sure each transaction is authorized correctly and can't be misused. One way to do this is by using unique identifiers or nonces.
The social recovery feature brought by EIP-3074 is one of the most noteworthy updates coming to the network. Let's explore how it works in more depth.
Digital signature for asset control: First, you give control of your assets to a special contract by using a secure digital signature. This step is important because it lets the contract manage the assets, but you can still get them back if needed.
Invoker contract: When the assets move to the new contract, that contract will handle all future actions for you. This setup lowers the chance of losing access to your assets if you forget your private keys.
Operational codes - AUTH and AUTHCALL:
AUTH: This code checks that your digital signature and transaction details match your original instructions.
AUTHCALL: After checking, this command lets the contract send crypto. It also allows others to know you've sent assets, so people can see the link between you and the contract's actions.
Security and asset recovery: The digital signature contains a unique code that guarantees you can retrieve your assets if you lose or forget your seed phrase, making it an invaluable feature.
Enhanced security measures: Despite the new features, there are risks of dangerous invoker contracts. To protect against losing assets without permission, the update includes ways to use invoker contracts that have been officially checked and reviewed.
EIP-3074 will alter the processes involved in Ethereum transactions by adding new features that bring welcome simplicity.
Batch transactions: EIP-3074 lets you combine multiple transactions into a single one. This should make transactions more efficient and may lower fees by distributing costs across multiple actions within the same transaction.
Sponsored transactions: Sponsored transactions are a new feature with EIP-3074. Here, a third party can pay the transaction fees instead of the asset holder. This could incentivize the use of DApps as asset holders no longer need to pay gas fees.
Smart contract-like capabilities in EOAs: Now, regular user accounts can do some of the same things as smart contracts. They can give permission to smart contracts to perform actions autonomously.
Alongside reducing the complexity of transactions made through the Ethereum network, the Pectra hard fork also introduces new ways for developers to make disruptive and easy-to-use apps.
Various other proposals are set to be introduced as part of the Pectra hard fork, each bringing additional functionality to the network.
EIP-7610: This proposal is designed to make the system more secure by only letting addresses with storage space create smart contracts. In theory, this change will make it easier to upgrade the system in the future, especially via Verkle trees.
EIP-7523: EIP-7523 focuses on making the Ethereum network more efficient. With the proposal, empty accounts will be removed from the Ethereum state. This helps reduce the state's size, making the network faster and easier to use.
EIP-7251 (Maxeb): This addition aims to make the network more scalable by simplifying the management of validators. This is achieved by increasing the maximum effective balance for validators from 32 ETH to 2,048 ETH. Doing so reduces the need to manage multiple validators, which reduces complexity.
EIP-2537: The EIP-2537 update brings new pre-built functions to the BLS12-381 curve. These functions help make cryptography processes more efficient. Better cryptography means better security and verification on the network.
EIP-3074, 5806, and 7377: Account abstraction EIPs make it easier to process transactions. EIP-3074 adds new commands (AUTH and AUTHCALL) that allow for transaction contracts to be verified and executed autonomously once certain permissions are set. This helps with complicated tasks like combining multiple transactions into one or having someone else pay for a transaction.
EIP-5920 (PAY opcode): EIP-5920 provides an easier way to share ETH by sending tokens directly without activating the receiver's contract code.
Each EIP contributes to the broader goal of making Ethereum more scalable, secure, and user-friendly, laying the groundwork for future advancements in the blockchain space.
Further updates are planned following Pectra's release in late 2024 or early 2025, most notably the addition of Verkle trees.
After Pectra, Ethereum is planning more updates. One important step is adding Verkle trees, which upgrade Ethereum nodes to validate blocks without needing to store large amounts of state data. This upgrade is a significant step towards 'statelessness' for the network. A stateless client doesn't need to store a full state database to validate incoming blocks.
Verkle tress and progress towards statelessness complements Ethereum's wider ambitions to improve scalability through advanced technologies like sharding, which aims to increase the number of transactions the network can process at once. This scalability solution has been a major focus following the network's move to Proof of Stake with the 'Merge' event.
The upcoming Ethereum Pectra hard fork promises to permanently alter how users make transactions on the network and manage their wallets. Efficiency, safety, and uprated features are all key benefits set to be brought about by the development and the arrival of the EIP-3074 proposal.
Although this next phase of evolution for the network isn't without its challenges notably, concerns over potential security vulnerabilities it marks fresh change for Ethereum and added competitiveness for the network.
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What is Ethereum Pectra? Bringing smart contract functionality wallets - OKX
What is EigenLayer? Ethereum’s restaking protocol, explained – TradingView
EigenLayer, explained
EigenLayer aims to eliminate a critical barrier many new DApps face by providing developers with an established security framework.
Ethereum has come a long way since its launch in 2015. It has held its position as the most influential blockchain, successfully transitioned from proof-of-work (PoW) to proof-of-stake (PoS), and is the foundation for many innovative crypto projects.
One such project is EigenLayer, a decentralized Ethereum staking protocol that provides developers with an established security pool. This EigenLayer explanation details staking and other vital parts of the Ethereum staking protocol.
The EigenLayer protocol is an Ethereum-based project aiming to improve the networks PoS consensus through a process called Ethereum restaking. The EigenLayer team claims to solve many existing Ethereum security inefficiencies, such as requiring every protocol to manage its own security and scalability processes.
However, before discussing the EigenLayer restaking process, defining the traditional Ethereum staking process is essential.
What is staking?
Staking is one of cryptos most popular features, providing traders with a reliable passive income stream.
Staking involves locking ones cryptocurrency in a staking pool, exchange or smart contract. A user earns interest on their staked assets, and in turn, the network utilizes these assets to cultivate network security. The more funds a user stakes, the more passive income they make.
High-value stakeholders often become validators who participate in transaction validation and vote on upcoming or existing proposals to improve the network. The idea is that stakers are more invested in protecting the blockchain network and less likely to become bad actors. Staking incentivizes good behavior as well. Validator rewards on Ethereum are slashed if a validator fails to participate in the networks best interest.
Decentralized staking is seen as the more accessible form of transaction validation when compared to PoW. PoW has miners racing to be the first block validator to earn a reward. This process has miners spending thousands on computer equipment to increase their hash rates, meaning those who spend the most earn the most. As these users continue to amass tokens, it becomes even more difficult for new miners to get involved.
Staking on Ethereum is similar to holding a savings account in a traditional bank and requires much less effort from the user. Thanks to the advent of staking pools, even users without much money to spare can begin their staking journey.
What is restaking, and how does EigenLayer support it?
Restaking is EigenLayers take on traditional staking. It provides new ways for users to generate passive income while increasing network security.
Restaking, in the case of EigenLayer, is the act of taking staked Ethereum and repurposing it to increase security on other protocols essentially creating a pool of restaked assets from which other decentralized applications (DApps) can pull. Users can opt-in to EigenLayers restaking smart contract through their already staked Ether (ETH) or through a liquid staking token (LST).
When a user stakes funds on an Ethereum protocol, most projects offer liquid staking tokens to represent those staked assets a sort of receipt. These tokens allow one to keep using their funds in other ways, such as restaking them through EigenLayer via a process called LST restaking without unstaking their original assets.
Alternatively, users can allow EigenLayers smart contracts to work with their already-staked ETH. Restaking with already-staked ETH is called native restaking. If a user participates in native restaking, the network will add those assets to the protocols security pool. How safe is EigenLayer? Its about as secure as the size of its security pool.
Applications built on EigenLayer are called actively validated services (AVSs) and can be anything from a bridge to a DApp to an oracle. Developing on EigenLayer is cheaper and more efficient than developing on a separate protocol, as EigenLayer has an established trust network in place through restakers. Developing elsewhere requires building a trust network from scratch.
That said, AVSs arent randomly harnessing services from EigenLayer. Instead, theres an intermediary called a node operator, a volunteer opting to help manage the network. Much like an Ethereum validator, an operator can be a single user or an organization.
Operators can build their own AVSs or provide services to other existing AVSs while receiving rewards in return. However, operators are also subject to an AVSs slashing requirements should they fail to perform their duties.
Moreover, operators can be restakers, or restakers can choose to delegate their restaked assets to an operator. Either way, restakers have complete control over which services their assets go toward. As a result, EigenLayer creates a sort of free-market governance system. Developers build on EigenLayer to harness its established security, while operators and restakers earn rewards for managing and providing said security.
How do restakers manage their restaked assets?
EigenLayer streamlines asset management through its EigenPod solution.
Users must connect their wallet to the EigenLayer application and select the token they want to restake. First-time restakers must approve the process before depositing funds into EigenLayers restaking contract.
A restaker manages their restaked assets through an EigenPod, a smart contract created during the restakers initial restaking process. An EigenPod is essentially a hub for the restaker to manage restaking processes, withdrawals and more. There can only be one EigenPod per Ethereum wallet address.
Restakers can visualize their network contributions through EigenLayers restaked points. Users earn restaked points every time a block is validated from their restaking date onward. EigenLayer calculates a users restaked points through a proprietary formula that factors the amount of restaked assets and the time theyve been locked in. The formula views native restaked ETH and restaked LST equally.
Users can withdraw their staking rewards on EigenLayer through a partial or full withdrawal process. Restakers who want to withdraw their earned rewards but continue providing services go through a partial withdrawal process. Partial withdrawals require on-chain proofs, and their gas fees can be expensive. Restakers can request one partial withdrawal every four to five days, and withdrawn funds must go through an additional escrow period before appearing in the restakers wallet.
Full withdrawals are for restakers who no longer want to provide their services. Otherwise, the process is similar to a partial withdrawal, requiring on-chain proofs and an escrow period for withdrawn funds. If a restaker accidentally initiates a full withdrawal, they can redelegate their assets via EigenPods redeposit button. Restakers can initiate either withdrawal process through their EigenPods Unstake section.
Pros and cons of EigenLayer
EigenLayer features innovative solutions, though this Ethereum network upgrade also introduces its own problems.
EigenLayer hopes to innovate on Ethereums tried-and-true proof-of-stake feature. In some ways, it is doing just that. However, its innovations arent perfect and can lead to new problems.
Pros
Additional passive revenue
Since restakers can use their staked assets in additional ways, they have the potential to earn higher rewards than traditional staking methods.
Improving developer success rates
EigenLayers security pool eliminates a key barrier many new projects struggle to overcome. Now, developers can focus on providing valuable services without worrying about establishing trust.
By removing one of the most significant barriers that newer projects face, EigenLayer could lead to genuinely innovative layer-2 projects.
Cons
Higher barrier to entry
While EigenLayer benefits new DApps by providing them with established security, restaking to participate in the network may overwhelm some users. Many crypto exchanges offer staking as a built-in service, simplifying node setup and maintenance for users on the network. That accessibility comes at the cost of technical know-how. If less technical users are already comfortable with the staking process, they will unlikely be interested in restaking.
Increased risk
EigenLayer AVSs have slashing rules that are different from traditional staking. Since restakers hold assets in traditional staking and restaking avenues, theyre doubling their slashing risk should they fail to uphold their duties.
Not only this, but restakers are doubling their exposure to security risks. Stakers already trust Ethereums smart contract code when they stake assets, and restaking requires trust in EigenLayers development prowess. This isnt to mention the quality of EigenLayer AVSs.
Fortunately, both Ethereum and EigenLayers code is entirely open-source. Knowledgeable developers can assess this code before risking their assets.
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What is EigenLayer? Ethereum's restaking protocol, explained - TradingView
What is Ethereum Blockchain? – Blockchain Council
In the landscape of blockchain technology, Ethereum stands out as a pioneering platform that extends the capabilities of blockchain beyond simple transactions. Since its launch in 2015 by Vitalik Buterin and a team of developers, Ethereum has revolutionized the decentralized application (dApp) ecosystem, offering developers a platform to build a wide array of applications ranging from decentralized finance (DeFi) to non-fungible tokens (NFTs). In this comprehensive guide, we delve into the fundamentals of the Ethereum blockchain, its underlying technology, key features, applications, and future prospects.
At its core, Ethereum blockchain is a decentralized, open-source platform that enables the creation and execution of smart contracts and decentralized applications (dApps). Unlike Bitcoin, which primarily serves as a digital currency and payment system, Ethereums blockchain is designed to be a programmable platform, allowing developers to build and deploy smart contracts and dApps.
Despite its groundbreaking innovations, Ethereum faces several challenges and limitations:
Despite these challenges, the future outlook for Ethereum remains optimistic. The Ethereum community is actively working on solutions to address scalability, security, and sustainability concerns. Ethereum 2.0, a major upgrade to the Ethereum blockchain, aims to transition from proof-of-work to proof-of-stake consensus mechanism, thereby improving scalability and reducing energy consumption.
In conclusion, Ethereum blockchain represents a significant advancement in the realm of blockchain technology, offering developers and users a platform for building and deploying decentralized applications and smart contracts. From decentralized finance to non-fungible tokens and decentralized autonomous organizations, Ethereum has unlocked a world of possibilities for innovation and experimentation. While challenges remain, Ethereum continues to evolve and innovate, paving the way for a more decentralized, transparent, and inclusive future. As we embark on this journey of exploration and discovery, Ethereum remains at the forefront of the blockchain revolution, empowering individuals and communities to build a more equitable and decentralized world.
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Kraken-backed Nibiru Chain allocates $15m in NIBI tokens to boost developer activity – crypto.news
Smart contract platform Nibiru Chain has unveiled a $15 million initiative in NIBI tokens to fuel its developer ecosystem.
Nibiru Chain, a proof-of-stake blockchain backed by HashKey Capital and Kraken Ventures, has allocated $15 million in NIBI tokens as part of the so-called Nibiru Builder Grants initiative aimed at fueling its developer ecosystem. In a press release shared with crypto.news, the developers said the allocated sum is equivalent to ~2.5% of the token supply.
Erick Pinos, ecosystem lead at Nibiru Chain, says the grant will supplement ongoing aid in partnership pairings and access to mentors, industry experts, and experienced developers. Commenting on the initiative, Jonathan Chang, COO of Nibiru, told crypto.news the firm wants to lower barriers to entry and create opportunities for those who may not have access to traditional VC funding.
Were expecting Nibirus grant program to propel further growth in tokenization of real-world assets (RWA) joining projects like Coded Estate which specialises in bringing homes and rentals on-chain, democratizing access to the real estate system; as well as on-chain gaming, where platforms like IntoTheVerse and Chess3 are already building on Nibiru. Jonathan Chang
Beyond the initiative, Nibiru also plans to host multiple hackathons with prize pools of up to $100,000 per event. Additionally, Nibiru wants to bring more developers into the ecosystem by introducing a reward mechanism that would allow blockchain creators to earn a portion of transaction fees every time their smart contracts are executed on the Nibiru Chain network.
Following the announcement of the initiative, Nibirus native token NIBI surged by over 4%, reaching $0.34, according to data from CoinGecko.
Founded in 2022, Nibiru Chain has secured millions of dollars in funding, propelling its valuation to around $100 million. The blockchain is backed by Tribe Capital, Kraken Ventures, HashKey Capital, Republic Capital, NGC Ventures, and Original Capital, among others.
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Kraken-backed Nibiru Chain allocates $15m in NIBI tokens to boost developer activity - crypto.news
NEAR launches tool for signing transactions on Bitcoin, Ethereum and more – Blockworks
Swiss non-profit organization NEAR Foundation has launched Chain Signatures, enabling users to sign transactions on supported blockchains from a single NEAR account.
Chain Signatures enables accounts and smart contracts on NEAR to sign transactions for different chains. At launch, this will include Bitcoin, Ethereum and Cosmos network chains, as well as DogeCoin and XRP Ledger. It will soon support Solana, TON Network and Polkadot, according to the team.
By enabling Chain signatures, DeFi protocols can utilize assets from other chains without requiring a cross-chain bridge. This is possible because Chain Signatures are designed to be account-based rather than bridge-based.
Read more: NEAR Foundation applies for .near top-level domain
According to Kendall Cole, director of research and development company Proximity Labs which supports projects on NEAR and Aurora Chain Signatures can potentially unlock new use cases for DeFi protocols.
Users can use XRP as collateral to borrow USDC, or trade DOGE for SOL. This is particularly innovative for non-smart-contract chains like Bitcoin, DogeCoin and Ripple because none of the major bridges support these chains today, Cole said.
NEAR protocol documents show that Chain Signatures link NEAR account addresses to other blockchains using an Additive Key Derivation. This mechanism enables the single master key to be derived into multiple subkeys.
When a user wants to transact between different blockchains, a deployed multichain smart contract will make a signature request for the transaction on the target blockchain network, and a Multi-Party Computation (MPC) service will sign the transaction.
Read more: MPC wallets have a trade-off. Is it worth it?
Once the signature is obtained, the smart contract will return it to the user, allowing the user to send the signed transaction to execute it on the target blockchain.
Smart contracts on NEAR will be able to custody assets on any chain (since they can sign transactions on any chain via chain signatures), and maintain user balances similar to how single chain lending protocols or DEXs do now, Cole explained.
The Chain Signatures MPC network will be launched in partnership with EigenLayer, which will secure the network using its restaked ETH. At launch, there will be ten node providers, including a handful of Actively Validated Services (AVS) infrastructure providers.
Post-launch, EigenLayer will be used to provide economic security to the network and transition the MPC network to a permissionless version. To participate in the MPC network, prospective node operators will need to re-stake their ETH and will be penalized if they maliciously authorize any transactions that did not originate from a NEAR account, Cole explained.
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NEAR launches tool for signing transactions on Bitcoin, Ethereum and more - Blockworks
Evolving Digital Innovation: Qubic’s Journey Toward True AI – GlobeNewswire
Tallinn, Estonia, March 28, 2024 (GLOBE NEWSWIRE) -- Qubicembarks on a transformative journey to empower global innovation with the potential of True AI. Embracing its vision, Qubic leverages an expansive computing network to redefine the landscape of artificial intelligence, moving beyond the traditional Proof-of-Work process to introduce a useful-Proof-of-Work (uPoW) concept. This innovation ensures that every computational effort directly contributes to AI development. At the heart of Qubic's efforts is Aigarth, an advanced AI system that symbolizes the platform's goal to grant universal access to the most sophisticated AI capabilities available. Aigarth analyzes data from AI miners to construct billions of neural networks, thereby mimicking the complexity of a human brain.
In alignment with its mission to establish the premier open-source AI infrastructure, Qubic functions as a unique decentralized network governed by Quorum consensusdescribed by Nick Szabo. Qubic Network is run by 676 validators, called 'computers'. These roles range from executing smart contracts and ensuring network security to managing feeless transactions. Through this robust infrastructure, Qubic not only facilitates smart contract executions with exceptional efficiency but also boasts the ability to process more than 40 million transfers per second (TPS) on the smart contract level. This remarkable capacity stands as a testament to Qubic's dedication to creating a high-performance computational AI network that acts as the foundational support for True AI development, providing swift, secure, and scalable solutions for AI integration.
A standout feature of Qubics platform is its novel approach to Initial Public Offerings, known as Qubic IPOs, which draws inspiration from the auction-based IPO method first introduced by Google. Unlike traditional fundraising, Qubic IPOs allow users to invest directly in smart contracts, becoming stakeholders in the technology itself. This novel approach democratizes investment in blockchain technology, offering participants a direct share in the success of groundbreaking projects. The platforms take on Initial Public Offerings results in each smart contract in the Qubic network getting an IPO for its 676 shares. Qubic users can fund a smart contract by purchasing one of these shares.
The $QUBIC coins used to fund a smart contract are locked up and burned, reducing the coins circulating supply and covering the contracts execution costs. Users funding a smart contract become shareholders and earn passive income from contract fees. The contract is self-sustaining until the locked $QUBIC is depleted. At this stage, a portion of the shareholder fees funds further execution. Its worth noting that the first three smart contracts executed on Qubic burned over 10.5 trillion $QUBIC of the capped circulating supply of 1,000 trillion coins.
Qubics founder, Sergey Ivancheglo, also known as CFB, recentlycommentedon the softwares efficiency:
The program gauging functional power of the new #Qubic mining algo used by #Aigarth for #AI training has just finished its computations. "Terrific" in all its meanings suits the best to explain the result. I've never seen such a powerful yet very simple construction of an #ANN!
About Qubic
Qubic is a community-driven project, entirely open source and under anti-military license. It was founded bySergey Ivancheglo, also known as Come-from-Beyond, the creator and co-creator of the first full PoS & DAG protocol (NXT & IOTA). The platform launched its mainnet in Q2 of 2022 and has grown a loyal community of over 88,000 members and over 500,000 miners.
Qubic comes from the acronym "QBC," which stands for "Quorum-Based Computor." The platform stays true to this term by providing fair, consensually-reached smart contract execution, ensuring only useful and legitimate contracts are added to the network. One of the standout features that could lead to its mainstream adoption is the fact that all transactions on the Qubic protocol are feeless. Also, the votes from 451 Computors (The Quorum) are reliable for offline payment verification. Ultimately, quorum-based computations, cost-effective transfers, and record-breaking TPS speeds enable participants to enjoy a lucrative and user-friendly experience.
You can learn more about Qubic by following these links:
Official Website|Telegram|X (Twitter)|Discord|LinkedIn|YouTube
Email Qubic ataf@qubic.org
Disclaimer: This content is for informational purposes only and is not an offer to sell or a solicitation of an offer to buy any securities in Qubic or any related entity. Qubic IPOs are not available to persons in the United States or in any jurisdiction where such participation would be unlawful. Potential participants should consult with legal, financial, and tax advisors before engaging in any of Qubics offerings. This document may contain forward-looking statements subject to risks and uncertainties that could cause actual results to differ.
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Evolving Digital Innovation: Qubic's Journey Toward True AI - GlobeNewswire
As Its Keynote Video Sparks Frenzy, BlockDAG Leads With Massive Presale Raise Of $10.4 Million Against Pyth … – Blockchain Magazine
March 29, 2024 by Carolyna Mavis
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In the dynamic crypto sphere, significant developments surrounding Pyth Network and InQubeta are making headlines. Yet, amidst this evolution, BlockDAG stands out, capturing investor attention with a staggering $10.4 million raised while only being in the fifth batch of its Presale. Distinguishing between the three and deciding which investment will grant maximum returns is a
In the dynamic crypto sphere, significant developments surrounding Pyth Network and InQubeta are making headlines. Yet, amidst this evolution, BlockDAG stands out, capturing investor attention with a staggering $10.4 million raised while only being in the fifth batch of its Presale. Distinguishing between the three and deciding which investment will grant maximum returns is a difficult task this article aims to ease.
Pyth Network Price Feeds, now fully operational on Merlin Chain, marks a milestone for developers seeking real-time data access. With over 400 immediate, low-latency data feeds covering crypto and traditional financial sectors, developers can gain opportunities for smart contract applications. This includes derivatives, perpetual futures trading, and decentralized borrowing and lending services.
Pyths unique pull oracle architecture empowers smart contracts to request price updates as needed, ensuring high accuracy and frequency access to the latest data. As part of Bitmap Tech, Merlin Chain is revolutionizing Bitcoins Layer1 capabilities, aiming to make Bitcoin more engaging through its Layer2 network. This sets a new standard for data reliability in the DeFi and broader blockchain ecosystems, fostering innovation and growth in the digital asset realm.
InQubeta (QUBE) emerges as a standout player in the crypto landscape, riding the AI and blockchain convergence wave. As investors flock to capitalize on this thriving trend, InQubeta stands out for its innovative solutions to reshape the industrys fundraising dynamics. Focusing on democratizing access to AI investments, InQubeta aims to establish a premier crypto-based crowdfunding platform for tech startups alongside an NFT marketplace for fundraising endeavors.
The ongoing presale of InQubeta has garnered significant attention, with $12.3 million raised, while it is weak in comparison to BlockDAGs massive $9.9M it is still a noteworthy achievement. Analysts predict a remarkable 45x surge post-launch, making it a highly recommended presale opportunity.
After the novel addition of a keynote video that went viral in the crypto arena, BlockDAG, with $10.4 million raised in presales and Batch 5 priced at 0.003 USDT, has sold over 5.7 billion BDAG coins and 4100+ X Series Miners. This blockchain technology innovator leverages the Directed Acyclic Graph (DAG) structure and Proof-of-Work (PoW) consensus mechanism to ensure scalability, security, and decentralization. Its commitment to cultivating a robust network attracts investors and miners seeking cutting-edge technology.
BlockDAG prioritizes user-friendly mining experiences that was further exemplified in its keynote video, offering mobile applications like the BlockDAG x1 app for up to 20 BDAG coins daily and home mining solutions such as the x10, x30, and x100 machines. Positioned as the worlds most advanced layer-1 blockchain, BlockDAG boasts industry-leading speeds and unbeatable security, fostering investor trust.
Watch The BlockDAG Keynote Video Here!
Its scalability accommodates a growing user base while enhancing network integrity. Investors and miners are drawn to BlockDAGs commitment to reshaping the crypto landscape with scalability and decentralization, making it an appealing choice for those interested in contributing to a decentralized and secure crypto ecosystem.
In the dynamic realm of cryptocurrency, BlockDAG stands out as the ultimate choice for investors. With its innovative scalability features and unwavering commitment to decentralization, BlockDAG surpasses competitors like Pyth Network and Pyth Network price and InQubeta presale. Having raised $10.4 million in presales and selling over 5.7 billion BDAG coins, BlockDAGs Directed Acyclic Graph structure and Proof-of-Work consensus mechanism ensure unparalleled security and speed. It calls out investors to embrace the future of blockchain technology and contribute to a decentralized ecosystem.
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CoinRaffle.io Unveils Innovative Platform for Secure and Fair Decentralized Raffles – GlobeNewswire
Willemstad, Curaao, March 29, 2024 (GLOBE NEWSWIRE) -- TheCoinRaffle.ioproject has proudly launched its utility-focused platform, which relies on decentralized technology. This innovative solution enables projects to host community raffles with ease, transparency, and fairness.
CoinRaffle.io is making crypto more engaging and empowering projects with its easy-to-use dApp. Creating raffles, boosting token utility, and automating token burning has never been simpler.
Unlocking New Dimensions of Token Utility
The core of CoinRaffle.io is its advanced smart contract technology, which ensures fairness in selecting random winners. With audited contracts and immutable blockchain records, CoinRaffle.io provides transparency and security for all participants.
The platform's solid integration with multiple blockchains facilitates accessibility to many users. The project allocates tokens as prizes to incentivize community engagement and boost token utility.
Developed by VTS Blockchain Engineers for CoinRaffle Inc., the platform represents the future of decentralized community engagement. It unlocks new dimensions of token utility, combining growth and practical usage.
With upcoming features such as Ethereum, Optimism, and Solana support, CoinRaffle.io continuously evolves to meet user needs.
Transforming Community Engagement with Decentralized Raffles
Creating raffles has never been easier with CoinRaffle's user-friendly interface. Specifically, here is what users will need to do to create their raffle:
After agreeing to the terms and to the privacy policy, users can click "Generate Raffle" to create it. In order to ensure fairness, distribution rules include percentages for the winner, team wallet, and burn.
As a service fee, 2.5% of the raffle funds will go to CoinRaffle. Users can view past raffles in "My Raffles" by connecting their wallet to the platform. The dApp is compatible with over 380 different wallets, making it accessible to all.
About CoinRaffle.io
CoinRaffle.io is a new platform offering a unique approach to community engagement in the crypto space. With a focus on token utility and automated token burning, it aims to empower crypto projects and enthusiasts.
The platform provides a cutting-edge decentralized application (dApp) for creating and managing raffles, making community engagement more dynamic. This creates new dimensions of token utility for projects, with customizable raffles and increased value propositions.
Transparency and security are key values at CoinRaffle.io. The platform ensures trust through smart contract audits, while its non-custodial architecture keeps funds secure. In addition, a 24/7 Telegram Technical Support Chat is available for assistance.
Anyone wishing to discover more about CoinRaffle.io can visit theplatform's website. The social pages listed on the website (and below) also offer regular updates and announcements.
X (Twitter)|Telegram
Disclaimer: The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities.
Mateo H. admin at coinraffle.io
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CoinRaffle.io Unveils Innovative Platform for Secure and Fair Decentralized Raffles - GlobeNewswire
Transformative Impact of Ethereum on Smart Contract Technology – Leadership News
Smart contracts, self-executing digital agreements powered by code, represent a revolutionary shift in transactional processes. Operated on decentralized networks, these automated protocols eliminate the necessity for intermediaries, bringing heightened efficiency to contractual interactions. The evolution of smart contracts is deeply interwoven with the broader blockchain revolution, progressing from conceptualization to widespread adoption. This journey has witnessed substantial advancements, marking a transformative stride toward a decentralized future. Amidst these developments, it is noteworthy that solutions like https://neo-profit-ai.com/, an online trading solution, have emerged, providing users with unique opportunities within the decentralized landscape.
Understanding Ethereums Role in Smart Contracts Ethereum as a Pioneer in Blockchain Technology Ethereum, a trailblazer in blockchain, has played a pivotal role in advancing smart contract capabilities. Its introduction of the Ethereum Virtual Machine (EVM) marked a watershed moment in the realm of decentralized computation.
The Birth of Ethereum Virtual Machine (EVM) The Ethereum Virtual Machine (EVM), a runtime environment for smart contracts, enables the execution of code on the Ethereum network. Its design fosters a decentralized ecosystem where developers can deploy and execute code seamlessly.
How Ethereum Enables Smart Contracts Ethereums architecture empowers smart contracts by providing a decentralized infrastructure for their execution. Smart contracts, coded in languages like Solidity, operate on Ethereums blockchain, ensuring transparency, security, and autonomy.
Ethereums Impact on Decentralized Applications (DApps) The Synergy Between Ethereum and DApps Decentralized Applications (DApps) leverage Ethereums capabilities to create trustless and transparent applications. This synergy fosters a new era of digital services, ranging from finance to gaming, built on the principles of decentralization.
Use Cases and Success Stories of DApps on Ethereum DApps on Ethereum have demonstrated their utility across various sectors. Examples include decentralized finance (DeFi) platforms, non-fungible token (NFT) marketplaces, and decentralized autonomous organizations (DAOs), showcasing the versatility of Ethereums ecosystem. Advantages and Challenges in DApp Development While Ethereum provides a fertile ground for DApp development, challenges such as scalability and user adoption persist. Overcoming these hurdles is crucial for the sustained growth of Ethereum-powered decentralized applications.
The Power of Ethereums Turing-Complete Language Exploring Solidity: Ethereums Smart Contract Programming Language Solidity, Ethereums Turing-complete programming language, empowers developers to create sophisticated smart contracts. Its syntax, akin to JavaScript, facilitates the seamless translation of contractual agreements into executable code. Turing Completeness and its Significance in Smart Contracts The Turing completeness of Solidity enables the development of complex smart contracts, mirroring the capabilities of a universal Turing machine. This feature enhances the expressive power of Ethereums smart contracts, allowing for intricate logic and computation.
Flexibility and Creativity in Smart Contract Development The flexibility afforded by Solidity encourages creativity in smart contract development. Developers can craft diverse and intricate agreements, from decentralized governance structures to complex financial instruments, contributing to the richness of the Ethereum ecosystem.
Smart Contract Security on the Ethereum Network Vulnerabilities and Challenges in Smart Contract Security Smart contracts, while powerful, are susceptible to vulnerabilities. Ethereum has witnessed incidents of security breaches, highlighting the importance of addressing challenges related to code vulnerabilities, external dependencies, and governance. Ethereum Improvement Proposals (EIPs) for Enhanced Security The Ethereum community actively addresses security concerns through Ethereum Improvement Proposals (EIPs). These proposals aim to enhance the security features of the network, implementing measures to fortify smart contracts against potential exploits.
Best Practices for Secure Smart Contract Development Adhering to best practices is imperative for secure smart contract development. Code audits, thorough testing, and adherence to established standards are essential to mitigate risks and ensure the robustness of smart contracts on the Ethereum network.
Decentralized Finance (DeFi) and Ethereum The Rise of DeFi Platforms on Ethereum Decentralized Finance (DeFi) has emerged as a prominent use case for Ethereum. DeFi platforms, built on smart contracts, facilitate trustless financial transactions, including lending, borrowing, and trading, reshaping the traditional financial landscape.
Smart Contracts in DeFi: Lending, Borrowing, and Yield Farming Smart contracts in DeFi enable automated lending and borrowing protocols, eliminating the need for intermediaries. Yield farming, another DeFi innovation, leverages smart contracts to optimize returns for users participating in liquidity provision.
Regulatory Challenges and Future Potential of DeFi on Ethereum As DeFi gains traction, regulatory challenges emerge. Striking a balance between innovation and compliance is crucial for the sustainable growth of DeFi on Ethereum. The community navigates these challenges to unlock the full potential of decentralized finance. Ethereum 2.0 and the Future of Smart Contracts Transition to Proof-of-Stake (PoS) and its Impact Ethereums transition to Proof-of-Stake (PoS) in Ethereum 2.0 marks a significant evolution. PoS aims to address scalability issues, energy consumption concerns, and enhance the overall sustainability of the Ethereum network.
Upgrades and Scalability Solutions in Ethereum 2.0 Ethereum 2.0 introduces various upgrades and scalability solutions, including shard chains and the Beacon Chain. These enhancements aim to increase the throughput of the Ethereum network, enabling a more scalable and efficient smart contract ecosystem.
The Continued Evolution of Smart Contracts on Ethereum As Ethereum evolves, smart contracts will continue to play a pivotal role in shaping the decentralized future. Ongoing developments, upgrades, and community-driven initiatives will contribute to the continued evolution and maturation of smart contract technology on the Ethereum network.
Conclusion In conclusion, Ethereums impact on smart contracts has been transformative, reshaping digital agreements and decentralized applications. From pioneering blockchain technology to the ongoing Ethereum 2.0 upgrade, the network has played a profound role in the evolution of decentralized systems. Looking forward, the landscape of smart contract technology on Ethereum is set for further advancements, with anticipated developments in scalability, enhanced security measures, and innovative use cases poised to define the trajectory of smart contracts in the decentralized ecosystem. Beyond smart contracts, Ethereums influence extends to shaping the broader blockchain technology landscape. Its decentralized approach and commitment to continual improvement position Ethereum as a cornerstone in the ongoing evolution of the decentralized future.
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Transformative Impact of Ethereum on Smart Contract Technology - Leadership News