Category Archives: Vitalik Buterin

Vitalik Buterin talks ways to make zk proofs more efficient – Blockworks

Vitalik Buterin, the co-founder of Ethereum, has released a new blog post discussing a new cryptographic proving system that can make zero-knowledge proofs more efficient.

The proving system, called Binius, is designed to operate directly over binary code on computers. Binary code is a language understood by computers, and it is used to store information and represents data using the symbols zero and one, otherwise known as bits.

Although there are some similarities between STARKs and Binius, Buterin explains that the mathematical tricks that enable these different proving systems are very different.

Generally speaking, STARKs is a technology that has enabled complicated statements to be easily cryptographically verified. It is designed in a way that can easily compute numbers when they are of small value, when there are large values, STARKs generate extra values, which can lead to inefficiency.

Unlike STARKs that arithmetize a statement into a polynomial equation a mathematical expression which model a relationship between variables in a block Binius treats data as a hypercube and grid, and uses multilinear polynomials to perform cryptographic proofs.

Binius converts individual values into bits and places them in a hypercube and a square. This hypercube is then converted into a grid and computations are performed in order to receive an output matrix.

A verifier will then perform its own computational calculations to ensure that the information itself matches and ensure that the compute columns returns a value claimed by the prover.

I highly encourage people to understand and explore! Lots of innovations have been happening in ZK-proving recently. And I expect lots more to come soon, Buterin wrote in an X post.

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Vitalik Buterin talks ways to make zk proofs more efficient - Blockworks

Vitalik Buterin Promises Easier Ethereum Proofs with Bizarre "New Math" – CCN.com

Key Takeaways

In a cryptic tweet,Ethereumco-founder Vitalik Buterin introduced what he called new math.The series of equations could simplify the process of making cryptographic proofsandthe industry has various interpretations for the statements.

Vitalik Buterins tweet listed several unconventional equations like 2 + 2 = 0 and 420 * 61779 = 1, which atfirst glance,defy basic arithmetic principles.

However, according to Adam Cochran, Partnerat Cinneamhain Ventures, these equations could illustrate the concept of modular arithmetica system wherenumbers wrap around upon reaching acertainvalue, much like the hours on a clock.

In modular arithmetic, operationsare carried outfor a modulus. Cochran uses a clock as an analogy: just as the hour resets to zero after 12, calculations in a modular system reset after reaching the modulus. This system could explain equations like 2 + 2 = 0 under modulo 4.

Cochran speculates that adopting modular arithmetic could lead to more efficient and compact calculations within blockchain systems.

He notes, Using modulo math should mean operations are less computationally expensive. So if we want to use zk-proofs broadly, weneed toreduce the computational power needed to prove them on general systems.

According to the executive, efficiencyis particularly valuable in cryptographic applications like zero-knowledge proofs, where reducing computational overhead can enhance performance and scalability.

Using modular arithmetic could alsodecrease the computational power needed to execute cryptographicproofs.This would allow for quicker and less resource-intensive transactions. This reduction incomputational demand means that blockchain networks can potentially handle more transactions with the same amount ofhardware,or lower the hardware requirements altogether.

As per the interpretation by Cochran, the predictable nature of modular arithmetic could simplify the verification of complex cryptographic proofs.

Modular arithmetic could also reportedly enhance data-packing strategies. The strategyallows for optimizingdata storage and transmission across blockchain networks for efficiency.

IfEthereumintroduces future upgrades that borrow concepts laid down by Buterin in the post, it might ease the verification time and cost on the blockchain.Thereby making the base layer more scalable and efficient.But, the concept aims to make blockchains interoperable.

Cochran states,And soinshort, the fact that2+2=0,might bethe reasonwhy one day, you can send a fast, low cost, trustless transaction between two distinct blockchain systems in a mathematically provable way.

To fully integrate Vitalik Buterins suggested new math,EthereumVirtual Machine (EVM) would require modifications to support these operationsnatively.

In March 2023,EIP-6690: EVM Modular Arithmetic Extensions (EVMMAX)was authoredby Jared Wasinger and Alex Beregszaszi.

EIP-6690 and EIP-6601 are part of theEthereum Cancunupgrade,that introduced new operations to the Ethereum Virtual Machine (EVM) for improved efficiency in handling modular arithmetic. The upgrade aimed to improve Ethereums computational capabilities andisalsolinkedto broader improvements in the networks consensus layer.

Vitalik Buterins introduction of new math could potentially make Layer 1 blockchains more efficient and scalable.

The industry interpretation suggeststhat itcan lead to efficient cryptographic proofs and data processing. Therefore, they can dramatically reduce the computational burden and enhance the scalability of networks.

To fully leverage the potential of Vitalik Buterins new math forEthereum, further explanations from Buterin would be necessary.Thiswould help clarify how these mathematical concepts arebeingintegratedinto Ethereums updates.

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Vitalik Buterin Promises Easier Ethereum Proofs with Bizarre "New Math" - CCN.com

Ethereum’s Buterin advocates multisig, says Shamir backup is ‘way easier to screw up’ – crypto.news

Ethereum co-founder Vitalik Buterin publicly favored multisig over Shamir backup, saying the latter is way easier to screw up for ordinary users.

In an X discussion among crypto enthusiasts, worries about the security risks linked to cold wallets have taken center stage, prompted by Ethereum co-founder Vitalik Buterins raised concerns regarding their potential pitfalls.

Peter Watts, the founder of NFT marketplace Reservoir, went on X to caution about the dangers of using hardware wallets, mentioning the risk of losing seed phrases or hastily moving assets stored in a banks safety deposit box, especially during unexpected events like the COVID-19 pandemic.

Counterpoint: when using a hardware wallet, the biggest risk becomes yourself. Beware of the footguns: Someone finds your stashed seed You hide the seed so well you forget You put the seed in a bank safety deposit then hastily move overseas due to covid https://t.co/UzAV13wzPB

The conversation took a new turn when Vitalik Buterin joined it, advocating for the use of multisignature (also known as multisig) solutions for securing personal funds. Buterin didnt reject the idea of cold wallets but highlighted decentralizing security, preferring multisig setups where multiple keys are required for transactions, emphasizing the importance of security in crypto.

The above is why I use a multisig (@safe) for >90% of my personal funds

M-of-N, some keys held by you (but not enough to block recovery), the rest held by other people you trust. Don't reveal who those other people are, even to each other.

Decentralize your own security.

He emphasized the need for a M-of-N configuration, where some keys are held by the user and others by trusted individuals, without disclosing their identities even to each other.

In response to Buterins suggestion, Ethereum investor Tobby Kitty proposed Shamir, a backup method for splitting cryptographic keys or passwords into multiple parts called shares. While acknowledging the benefits of Shamir, Buterin cautioned that its way easier to screw up compared to multisig, as it depends on carefully handling and storing many parts of the secret. If any of these parts are lost or handled incorrectly, it could be impossible to put the secret back together.

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Ethereum's Buterin advocates multisig, says Shamir backup is 'way easier to screw up' - crypto.news

Wallets linked to Coinbase and Vitalik Buterin have millions ‘stuck’ in bridge contracts – Cointelegraph

Dozens of crypto whale wallets with assets ranging from six to seven figures are stuck on multiple decentralized finance (DeFi) bridge contracts.

One of these whale wallets is linked to Ethereum co-founder Vitalik Buterin, who has over $1 million worth of assets stuck for over seven months, with other wallets having assets unclaimed for over two years.

According to a report published by crypto analytics firm Arkham Intelligence, several notable whale addresses linked to prominent crypto individuals and entities have their funds stuck in the bridge contracts for as long as two years.

DeFi bridge contracts are software protocols that allow the movement of assets and data between different blockchain networks, enabling interoperability within the DeFi ecosystem.

However, not all DeFi bridges function the same. On the one hand, cross-chain bridges enable users to automatically obtain their assets on the other chain.

On the other hand, traders using native bridges must retrieve their funds manually as there is no way for the smart contract to remind users to do so, which could result in situations where users forget their money.

One wallet linkedto thomasg.eth has had $800,000 stuck in Arbitrum Bridge for one year and 10 months. Another wallet, linked to Bofur Capital, with 27 wrapped Bitcoin worth $1.8 million, has been stuck for two years and three months.

Similarly, another wallet linked to nonfungible token (NFT) user Mike Macdonald has about $117,000 in assets linked to CryptoPunks sales stuck on a bridge contract.

Arkham suggested the account owner take a look, reminding them that if they own the account that sent 5 CryptoPunks to, then you might also own the account that received the proceeds after they were sold.

Another wallet that received 50 Ether (ETH) from Vitalik.eth seems to have been forgotten for seven months despite holding nearly $1 million worth of ETH on the Optimism bridge.

Another linked to Coinbase crypto exchange was also identified and contains $75,000 worth of assets stuck for nearly six months.

Arkham suspects Coinbase tried bridging $75,000 worth of USD Coin (USDC) to ETH and forgot about it. The assets are stuckin the Optimism bridge contract and waiting to be claimed.

Arkham notified whales linked to the stuck and forgotten funds to retrieve them in case they had forgotten about them. It also reminded the community that these instances can occur due to the nature of cross-chain bridges.

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Wallets linked to Coinbase and Vitalik Buterin have millions 'stuck' in bridge contracts - Cointelegraph

Ethereum Co-founder Vitalik Buterin Criticizes Misuse of ZK in ZKasino Scandal – CoinGape

EigenLayer Is A Typical VC Scam, Says Ran Neuner

Ran Neuner, a prominent figure in the crypto community, has voiced skepticism regarding EigenLayer, characterizing it as a typical VC scam. Neuner identified several warning signs associated with EigenLayer, including

43 mins ago 24/7 Cryptocurrency News

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Ethereum Co-founder Vitalik Buterin Criticizes Misuse of ZK in ZKasino Scandal - CoinGape

Vitalik Buterin Backs Ethereum PoS Transition amid Community Debates – FX Empire

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Vitalik Buterin Backs Ethereum PoS Transition amid Community Debates - FX Empire

Vitalik Buterin Launches Binius to Enhance Blockchain – Crypto Times

Vitalik Buterin recently introduced a new proof technology called Binius, which utilizes binary fields and aims to improve the efficiency of zero-knowledge proofs within blockchain applications. Binius is a departure from the existing SNARK and STARK technologies introduced years ago.

Earlier, Buterin sparked curiosity and confusion within the blockchain space with his initial presentation of nonsensical equations. However, this was later clarified as a creative approach to introduce Binius. This new system doesnt change basic math but uses known concepts, like binary fields, in new ways to improve cryptographic methods.

Explaining the advantages, Buterin highlighted how smaller fields could lead to more efficient proof generation, citing the unique properties of binary fields. Binius aims to lighten computing loads and quicken transactions on blockchain networks, which is crucial given the current costs and speeds associated with zero-knowledge proofs.

Despite the potential benefits, Biniuss complexity means that developers may need time to understand this technology in existing systems fully. Its practical effectiveness will also require extensive testing to validate its impact on enhancing transaction efficiency and reducing costs.

The introduction of Binius by Buterin represents a significant step in the ongoing efforts to advance blockchain technology, promising to improve scalability and efficiency through refined cryptographic techniques.

Also read: Nera Secures $4.5 Million for Zero-Knowledge Proof Research

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Vitalik Buterin Launches Binius to Enhance Blockchain - Crypto Times

Kat Meme Coin: The new crypto sensation with a Vitalik Buterin endorsement – crypto.news

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

In the rapidly evolving world of cryptocurrencies, a new player has entered the market, capturing both attention and intrigue.

Dubbed Kat Meme Coin, this new meme-based cryptocurrency has become a topic of considerable discussion, especially following an unexpected endorsement from Ethereum co-founder Vitalik Buterin.

Kat Meme Coin emerged from the burgeoning trend of cryptocurrencies that leverage popular internet culture to gain rapid user adoption. Drawing inspiration from various internet memes featuring cats, the creators of Kat Meme Coin have cleverly combined the viral nature of memes with the robust, speculative dynamics of the crypto market. The result is a digital currency that not only appeals to crypto enthusiasts but also to a broader audience that enjoys internet humor.

The cryptocurrency community was taken by surprise when Vitalik Buterin, a well-known figure in the blockchain space, announced his investment in Kat Meme Coin. Buterin, whose endorsements are few and far between, praised the project for its innovative approach to community engagement and its potential to bring new users into the cryptocurrency ecosystem.

I am always excited to see new projects that challenge the conventional and bring about a wave of freshness to the blockchain space, Buterin said in a recent interview. Kat Meme Coin, with its unique blend of humor and serious technology, presents an intriguing proposition.

Despite its whimsical origins, Kat Meme Coin is built on a solid technological foundation. It operates on a decentralized blockchain platform that ensures security and transparency. The developers have implemented a unique deflationary mechanism where a small percentage of coins are burned with every transaction, potentially increasing the value of the remaining coins over time.

The future of Kat Meme Coin looks promising. With its community-driven approach, the project has outlined several upcoming initiatives, including partnerships with online content creators, merchandise stores, and possibly even adoption by e-commerce platforms to use Kat Meme as a legitimate form of payment.

Since its launch, Kat Meme Coin has seen a fluctuating yet positive market response. The coin experienced a significant surge in value following Buterins endorsement, demonstrating the impact of high-profile support in the cryptocurrency market.

However, the project is not without its challenges. Critics argue that the long-term viability of meme coins is uncertain, and their value can be highly volatile. The developers of Kat Meme Coin will need to maintain the momentum and ensure that the project continues to evolve to sustain interest and value.

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

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Kat Meme Coin: The new crypto sensation with a Vitalik Buterin endorsement - crypto.news

Arkham’s top 5 doxed crypto hodlers own $3.5B, but 35% is untouchable – Cointelegraph

The top five identified crypto whales with publicly known wallet addresses hold around $3.5 billion in crypto, according to a dashboard from blockchain intelligence firm Arkham.

However, due to lost passwords and private keys, a large chunk of it is inaccessible.

On April 15, the on-chain intelligence platform announced the updated dashboard revealing the holdings of some of the worlds on-chain-verified richest crypto holders and whales, including Trons Justin Sun and Ethereums Vitalik Buterin.

The top five crypto holders on its list currently own an aggregate of $3.47 billion in digital assets, according to the data. However, around 35% or $1.21 billion of that total has been flagged as inaccessible.

Justin Sun tops the list with a reported $1.06 billion in his crypto wallet. The Tron network founders wallet is heavy on his own stablecoin, Decentralized USD (USDD), with $275 million in holdings, followed by the networks native token, Tron (TRX), of which he holds $237 million worth.

Rain Lhmus, the founder of Estonia-based LHV Bank, is second on Arkhams list with $769 million worth of Ether. However, it has been flagged as inaccessible, as it was reported in November that he lost access to his private key.

Ethereum co-founder Vitalik Buterin comes third with a wallet containing $757 million, primarily in ETH, of which he holds 245,425 tokens.

The Bitcoin wallet of the former chief technology officer at Ripple, Stefan Thomas, shows up as fourth on the list. However, his $442 million worth of Bitcoin (BTC) has also been flagged inaccessible.

Thomas lost access to more than 7,000 Bitcoin in 2011 after losing the password to the encrypted hard drive holding the details of his cryptocurrency.

In October, crypto recovery firm Unciphered offered to unlock the IronKey hard drive.

Related: Ethereums next hard fork could make lost private keys a thing of the past

Crypto venture capitalist James Fickel rounds out the top five with $436 million worth of digital assets in his wallet, according to Arkham.

Other notable crypto wallets in the top ten include early adopter Patricio Worthalter, who holds $219 million worth, primarily in ETH. General Partner at Cluster Capital, Winslow Strong, is listed as holding $27.5 million worth of digital assets.

For those included, the dashboard displays public wallets tagged by Arkham, their current token holdings and balance history, a breakdown of portfolios across chains and historical daily balances, and recent activity.

However, the list doesnt contain whale wallets that are linked to unknown or pseudonymous owners, such as Bitcoins creator Satoshi Nakamoto whose BTC holdings are estimated to be worth tens of billions across multiple addresses, or other crypto titans that currently arent linked to a particular wallet address.

Magazine: 1 in 6 new Base meme coins are scams, 91% have vulnerabilities

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Arkham's top 5 doxed crypto hodlers own $3.5B, but 35% is untouchable - Cointelegraph

Vitalik Buterin wants rollups to hit stage 1 decentralization by year-end – Cointelegraph

Ethereum co-founder Vitalik Buterin is proposing to raise the bar on whats considered a rollup in the Ethereum ecosystem and suggests developers should aim to get their decentralization efforts in order by the end of the year.

The comments came in his latest blog post on March 28, reflecting on the year ahead following Ethereums latest Dencun upgrade, which significantly reduced transaction fees for rollups on layer 2s.

Buterin noted that Ethereum was in the process of a decisive shift from a very rapid L1 progress era to an era where layer-1 progress will still be very significant.

He also said that Ethereums scaling efforts have shifted from a zero-to-one problem to an incremental problem, as further scaling work will focus on increasing blob capacity and improving rollup efficiency.

He continued to state that the ecosystems standards will need to become stricter, adding:

Stage 1 is Buterins classification of layer 2s decentralization progress, whereby a network has advanced enough in terms of security and scaling but is not yet fully decentralized (which would be Stage 2).

He observed that only five of the layer-2 projects listed on L2Beat are at either Stage 1 or 2, and only Arbitrum is fully Ethereum Virtual Machine-compatible.

The next steps on the roadmap include implementing data availability sampling to increase blob capacity to 16MB per slot and optimizing layer-2 solutions through techniques such as data compression, optimistic execution and improved security.

After this, we can cautiously move toward stage 2: a world where rollups truly are backed by code, and a security council can only intervene if the code provably disagrees with itself, he added.

Related: Vitalik Buterin is cooking up a new way to decentralize Ethereum staking

Buterin said that further changes such as Verkle trees, single-slot finality and account abstraction are still significant, but they are not drastic to the same extent that proof of stake and sharding are.

Ethereum is currently at the Surge phase of its upgrade roadmap, with upgrades related to scalability by rollups and data sharding. The next phase, the Scourge, will have upgrades related to censorship resistance, decentralization and protocol risks from miner extractable value, or MEV.

Developers should design applications with a 2020s Ethereum mindset, embracing layer-2 scaling, privacy, account abstractionand new forms of community membership proofs, he said before concluding:

Magazine: Account abstraction supercharges Ethereum wallets: Dummies guide

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Vitalik Buterin wants rollups to hit stage 1 decentralization by year-end - Cointelegraph