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ZKSync Aims to Boost TVL with Ignite Program Following StarknetAs decentralized finance (DeFi) continues to grow, the ZKSync network has introduced a significant proposal, the ZKSync Ignite Program, which could make substantial waves in the market. Designed to elevate Total Value Locked (TVL) and liquidity on the ZKSync Era network, this initiative looks to replicate successful strategies seen with Starknet, building on liquidity incentives to encourage DeFi adoption. ZKSync Ignite Program and the Liquidity Hub Recently endorsed by the ZK Nation community, the ZKSync Ignite Program is set to distribute 325 million ZK tokens over the next nine months, targeting DeFi users who actively engage in liquidity-enhancing activities on the ZKSync Era network. This token distribution aims to build a "liquidity hub" for ZKSync Era’s Elastic Chain, a crucial DeFi infrastructure that supports a broad ecosystem of assets. The proposal outlines three core objectives: 1. Boosting DeFi liquidity (supply-side) by increasing the assets available for trading, with a goal of creating up to $410 million in added liquidity. 2. Optimizing price execution (demand-side) by reducing slippage on both stable and volatile pairs, such as stablecoin-ETH and stablecoin-ZK pairs, to promote efficient asset exchange. 3. Generating sustainable LP fees by targeting a $3 return for every $1 of incentive, creating an economically efficient DeFi marketplace that will continue to thrive post-incentives. ZKSync’s program has also set specific benchmarks for price execution to minimize slippage across different trade sizes, aiming for a maximum of 5 basis points (bps) slippage on trades up to $1 million in stable-stable pairs and 120 bps for stable-volatile pairs up to $1 million. Incentive and Oversight Structure The Ignite Program is structured for optimal transparency and oversight, with the Token Assembly retaining authority to cancel the program at any point if it underperforms. The DeFi Steering Committee (DSC) will manage and review the allocations, adjusting them bi-weekly in response to performance metrics. Token allocations will be directed toward specific pools and assets within DeFi apps on ZKSync Era based on recommendations from OpenBlock Labs, allowing the program to adapt and evolve according to market needs. User Experience Enhancements To enhance the experience, the Ignite website will display available rewards in participating DeFi apps, with pending rewards updated every eight hours. Community feedback is encouraged on whether these rewards should be claimed weekly, adding a participatory dimension to the program. Technical Outlook On the technical front, NYSE:ZK ’s price is currently navigating a rising wedge pattern. Often considered a bearish indicator, a rising wedge typically hints at a potential price decline. However, in ZKSync’s case, this pattern may represent a consolidation phase rather than a bearish trend due to its trading above key moving averages (MA) and its relative strength index (RSI) maintaining a healthy level at 52. These signals suggest resilience and a potentially bullish outlook as the coin stabilizes within the broader market dynamics. Despite these positive fundamentals, NYSE:ZK has seen a slight dip of 1.52% recently. This price action reflects the broader market's cautious stance but does not detract from the robust infrastructure and community-led approach ZKSync is establishing. Future Implications and Market Impact The ZKSync Ignite Program holds promise to significantly enhance DeFi liquidity on the platform, building a self-sustaining liquidity ecosystem that supports both on-chain and off-chain assets. If ZKSync achieves its primary metrics, it may become a pivotal liquidity hub, encouraging wider adoption of the Elastic Chain and ZKSync Era as a whole. The upcoming metrics reports and public dashboards will offer clear visibility into the program’s success, giving stakeholders a tangible measure of its impact on the DeFi landscape. With its innovative approach and strategic design, ZKSync’s Ignite Program is well-positioned to attract both liquidity providers and traders, adding considerable value to the network and potentially elevating NYSE:ZK 's position in the market as liquidity and adoption expand.
Long
by DEXWireNews
Aleo | Layer1 & zero knowledge Aleo is the first platform to provide fully private applications. It accomplishes this by using decentralized systems and zero knowledge cryptography to secure user data online. At its foundation, Aleo delivers unlimited computing power with complete privacy for both users and developers. Designed as a blockchain that is private by default, open-source, and web-focused, Aleo is seen by its developers as uniquely capable of addressing challenges in blockchain adoption. With Aleo, users can access a wide range of personalized web services while retaining full control over their private data. Aleo operates on its own independent blockchain. It is available for trading on 4 markets and 7 exchanges, with Gate .io being the most active so far. Coinbase added Aleo to its platform around 24 hours ago under an experimental label. which means the asset is new to the platform, typically exhibiting lower trading volumes and higher volatility. speaking of coinbase, Aleo recently revealed a partnership with Coinbase to offer custodial services and other initiatives. Aleo’s CEO, Alex Pruden, highlighted Coinbase’s extensive expertise and strong infrastructure as key factors in their decision. The US-based cryptocurrency exchange operates in various sectors, notably working with institutions like the US Department of Justice through its Coinbase Prime service Aleo has attracted investment from a range of notable venture capital firms and investors. Some of the key investors in Aleo include: a16z Andreessen Horowitz, Tiger Global, SoftBank Vision Fund 2,Samsung NEXT, Coinbase Ventures, Galaxy Digital, Polychain Capital..these investors highlight strong backing from both crypto focused and traditional investment firms we going to bullmarket phase and Aleo can hit higher targets as well
Long
by moonypto
9
#WLDUSDT #2h (ByBit) Falling wedge breakout and retestWorldcoin regained 50MA support and is pulling back to it, road to 200MA resistance seems next. ⚡️⚡️ #WLD/USDT ⚡️⚡️ Exchanges: ByBit USDT Signal Type: Regular (Long) Leverage: Isolated (5.0X) Amount: 5.2% Current Price: 2.416 Entry Targets: 1) 2.403 Take-Profit Targets: 1) 2.771 Stop Targets: 1) 2.219 Published By: @Zblaba MIL:WLD #WLDUSDT #2h #Worldcoin #Privacy worldcoin.org Risk/Reward= 1:2.0 Expected Profit= +76.6% Possible Loss= -38.3% Estimated Gaintime= 5 days
Long
by TradingOn
Wormhole Set to Use AMD Chips for Scaling 'Light Client' ProofsInteroperability platform Wormhole will leverage Advanced Micro Devices' ( NASDAQ:AMD ) enterprise-grade FPGA hardware accelerator chips for scaling cross-chain communication. The project will make use of AMD’s Alveo U55C and U250 adaptable accelerator cards to enhance capacity for secure cross-chain messages using zero-knowledge proofs (ZKPs). As a bridge solution connecting over 30 blockchains, Wormhole has embraced the integration of zero-knowledge proofs into the platform. It is developing “light client” implementations for secure transfers across various chains, using ZKPs. The goal is to create secure “corridors” between blockchains for messaging. Moreover, this necessitates substantial computing power for the generation and verification of proofs across networks. That’s where the Advanced Micro Devices ( NASDAQ:AMD ) chips come into the picture. These FPGA chips are widely used for compute-heavy tasks like training machine learning models. Wormhole is optimizing its platform for AMD chips. "Advanced Micro Devices ( NASDAQ:AMD ) plays a critical role in this effort by providing enterprise-grade FPGA and GPU hardware and lending deep hardware expertise to Wormhole ZK engineers to ensure efficiency and speed,” said Dan Reecer, co-founder and chief operating officer at Wormhole Foundation. Advanced Micro Devices ( NASDAQ:AMD ) contribution to the project supersedes hardware provision — it will also share its expertise in hardware acceleration to improve the scalability of applications developed within the Wormhole ecosystem. Zero Knowledge-Based Light Clients In the coming months, organizations contributing to Wormhole will start rolling out mainnet deployments of various zero-knowledge (ZK) light clients. Just last week, Wormhole revealed a collaboration with Succinct Labs, to enhance the development and performance of an Ethereum-based ZK light client. Wormhole’s plan is to create secure communication channels across major blockchains, including Ethereum, Near, Solana, Aptos, Sui, and Cosmos. Scaling concerning proof generation and verification in the light clients will be facilitated through Advanced Micro Devices ( NASDAQ:AMD ). Wormhole’s core contributors emphasize the critical importance of its product security. This stance stems from an incident in February 2022, when a security breach facilitated by a signature verification flaw in the Wormhole network on Solana led to the theft of over $320 million in $ETH. Fortunately, the compromised funds were later recovered. According to the contributors, ZK-based light clients will significantly contribute to improving the project’s security and decentralization.
NASDAQ:AMD
by DEXWireNews
ETH : Fees, ZK Protocol and.. SPACE ?? Things YOU Should KnowHi Traders, Investors and Speculators of the Chart📈📉 There are some exiting developments in the crypto space other than the bullish price action on charts. If you've been missing out on some of it, this one's for you! Thanks to their distributed structure, blockchains tend to be slow. If a single transaction has to be verified across thousands of Ethereum’s nodes, this also makes the network expensive to use. Layer 2 systems are a potential answer to this issue, with rollups as the most popular scaling method. Zero-knowledge (ZK) rollups use the minimum data necessary to verify transactions by unburdening Ethereum from excess network workload. This makes Ethereum both faster and cheaper. Okay now hold up - wat is ZK? In cryptography, a ZK or zero-proof protocol means one party (the prover) can prove to another party (the verifier) that a given statement is true without giving any additional statement. To give a practical example; consider how you would have to prove your citizenship. If you say “I am Bob from Canada”, you would need to prove that with a legal document such as a passport, an identity document etc. The problem with this approach up until now, is privacy. This information is often shared to third parties without your consent. Identity theft also thrives in this environment. So how could you prove that what you’re saying is true, without giving away any information or legal documents? Let’s take a look at this example provided by Wikipedia: Imagine your friend is red-green color-blind (while you are not) and you have two balls: one red and one green, but otherwise identical. To your friend they seem completely identical and they are skeptical that they are actually distinguishable. You want to prove to them they are in fact differently-colored, but nothing else; in particular, you do not want to reveal which one is the red and which is the green ball. Here is the proof system. You give the two balls to your friend and they put them behind their back. Next, they take one of the balls and bring it out from behind their back and display it. They then place it behind their back again and then choose to reveal just one of the two balls, picking one of the two at random with equal probability. They will ask you, "Did I switch the ball?" This whole procedure is then repeated as often as necessary. By looking at their colors, you can, of course, say with certainty whether or not they switched them. On the other hand, if they were the same color and hence indistinguishable, there is no way you could guess correctly with probability higher than 50%. Since the probability that you would have randomly succeeded at identifying each switch/non-switch is 50%, the probability of having randomly succeeded at all switch/non-switches approaches zero ("soundness"). If you and your friend repeat this "proof" multiple times (e.g. 20 times), your friend should become convinced ("completeness") that the balls are indeed differently colored. The above proof is zero-knowledge because your friend never learns which ball is green and which is red; indeed, they gain no knowledge about how to distinguish the balls. Now that you have an understanding of ZK, let's look at how this affects blockchain and cryptocurrencies, Ethereum specifically: Gas fees have been a huge problem for ETH. But there are a number of ways to improve performance . Rollups are by far the most popular scaling technology. So wait wait wait.... What Are Rollups or ZK-Rollups? Rollups are smart contracts that reduces computing and storage requirements for validating a transaction block. As noted previously, they do so by rolling up hundreds of transactions into a single one. Zero-knowledge proof is one of the methods to accomplish that. When a network is overburdened with information, the fees increase. That’s because public, decentralized blockchains have limited block space to contain transactions. Accordingly, when the network traffic is higher, the demand for block space increases, leading to validators charging more for each transaction to be validated. Rollups are divided into two types: Optimistic and Zero-Knowledge (ZK). Both types do one job — rollups reduce the Layer 1 network’s (Ethereum) workload by scooping up, or rolling, hundreds of incoming transactions as a single transaction. This bundled single transaction is then verified and added back to Ethereum, as another data block on its public ledger. Because of this continuous offloading of transactions from Ethereum, the Layer 1 network remains uncongested. And when Ethereum is not congested, it is much cheaper to use because its ETH gas fees fall down drastically. After all, every computer network requires some bandwidth/computational resources to be expended. In the case of decentralized blockchain networks, that cost falls onto users themselves. This is why Layer 2 networks are so important. Rollups, in particular, have a dual impact — granting fast and affordable user experience to the Ethereum ecosystem. So now that you have a better understanding of Blockchain verification and gas fees, we can take it to SPACE ✨🚀 I live in a country where electricity blackouts (or loadshedding as they call it) is part of everyday life. We usually experience 3 sets of loadshedding a day, each ranging from 2 - 4 hours at a time. One of many disruptive results of this, is that the signal drops during loadsheding. This is because the signal towers have back up batteries for when the electricity cuts but - since there has been loadshedding for months, the batteries do not get to charge fully. You might be wondering why I'm telling you this (and I'll give you a clue, it's not for sympathy). One word - SIGNAL. You would be surprised to know how many things are affected by the ready availability of electricity, and signal. When the signal drops, it not only drops for your phone but also for transactions. Think card machines, financial services, banking etc. Now again, Mr Elon Musk has been working on Starlink, something you may have heard of to address this issue. Starlink is a satellite internet constellation operated by SpaceX, providing satellite Internet access coverage to 45 countries. It aims for global mobile phone service after 2023. SpaceX started launching Starlink satellites in 2019. The purpose of using satellites for signal would basically make signal towers null and void, with a direct link form the satellite to the receiving point such as the phone and eventually card machine etc. This is where the exciting news now becomes relevant. ZK - tested on satellites. Recently, in a collaboration between crypto-satellite developer Cryptosat and global hackathon organizer DoraHacks, the first successful experiment to launch a ZK (Zero-Knowledge) proof system in space recently occurred onboard the International Space Station (ISS). According to DoraHacks and Cryptosat, the experiment performed onboard the ISS showcased the capability of a satellite-based computation environment to successfully perform part of the trusted setup process required to use a ZK proof protocol. According to Cryptosat, which is attempting to launch a constellation of cubesats into orbit and build out its satellite fleet, the success of the ZK proof experiment is a crucial component in demonstrating the efficacy of space-bound computational environments. The procedure entailed sending pre-uploaded open source programs to the ISS through a secure link in order to generate a string file for the ZK proof-based voting program. Cryptosat has also already launched two mug-sized satellites, Crypto1 and Crypto2, the latter of which is currently being tested. 💭Final Thoughts... We're not there yet. The two legs that go with connection is signal.. and device. The one without the other is useless. Many people around the globe still do not have access to devices and even if they did, what happens if you lose your device? Just how vulnerable would you be if your device is stolen? Those are questions for another day perhaps.... Thanks for reading this far ! Interested in a technical and chart analysis of Ethereum? Check out this idea : _______________________ 📢Follow us here on TradingView for daily updates and trade ideas on crypto , stocks and commodities 💎Hit like & Follow 👍 We thank you for your support ! CryptoCheck
GLASSNODE:ETH_TOTALTXFEESUSDEducation
by Crypto-Check-
33
Zcash vs Bitcoin has Death Cross Impending or Mega RallyFoundational upgrade delivered without causing a network or market crisis. This is now a potential green-light for Zcash to continue to outperform against Bitcoin If the local levels are rejected during rally attempts (003500 and 004000 namely) then this will move much lower toward 002000 electriccoin.co Zcash Network Upgrade 5 (NU5) activated on mainnet today, May 31. It is the most important milestone for Zcash since the cryptocurrency launched in 2016 — and as our Electric Coin Co. (ECC) CEO Zooko Wilcox put it, “an historic step forward for human society.” NU5, the first major upgrade since November 2020, includes the launch of the Orchard shielded payment protocol, utilizing the Halo proving system to remove reliance on complex setup ceremonies. The efficiencies built into this upgrade make possible — for the first time ever — private, trustless digital cash payments on mobile phones. Halo also paves the way for increased interoperability by providing a system that could unlock private cross-chain proofs at scale.
Long
by noam_chom
ATOM Cosmos is in a Consolidation Phase ATOM price is likely to range between $22 and $35. The trend direction of PVT is diverging from price direction. I have selected the time points A and timepoint B {April 3 2022]. The price difference between these two time points closing price is 1.03 (USDT). The difference in PVT between the two timepoints is negligible. MA assigned to ATOM (Cosmos) price are 50 MA (Yellow), 100 MA (Green), 500 MA (Blue). These MA follow the session we are in and the session is 2 Hour freq . February 28 2022 ATOM price crossed over 500 MA. The subsequent price movement from March 4 2022 to March 6 2022 sent the price of ATOM to cross under the 50 MA, then the 100 MA, and lastly the 500 MA. Price support at $34 was proving to be resistance and the new price support was found at $28 by March 25th 2022 when price had maintained a price greater than all three MA’s. On March 25th 2022 the MA were as follows 28.34 50 MA, 28.32 100 MA, 28.05 500 MA. (50 MA > 100 MA > 500 MA) The most recent price trend in relation to the 3 MA’s indicates a possible continuation of this consolidation phase. From March 3rd 2022 the PVT value was at 7.614 million and on April 3rd 2022 PVT was 7.621 million. (The price trend appears flat).
by helo_world_bots
ridethepig | The Capitulation📌 ridethepig | The Capitulation Very little to update after a quiet European and NY play. Buyers are clearly in the superior position, as you all know, just a matter of time before we get the capitulation let now. A very quick leg towards $57,000 is in play , we have the open ladder after clearing 161.8% extensions and our enemy is without a shield. This is getting embarrassing for sellers. Depending on the decisiveness of the breakthrough in the swing, it can allow us to start moving our scope to six figures. Satoshi understood money over IP, he understood inelastic supply, he knew not to touch the wallet while outguessing the societal move towards a post trust world... a true genius. For those who haven't had the chance I would highly recommend digging into the old emails / forum posts. Thanks as usual for keeping the feedback coming 👍 or 👎
COINBASE:BTCUSDLong
by ridethepig
7
ZEC- King of anon coins (Multi-time frame analysis)By far, the most sophisticated anon and privacy-focused coin in the crypto world with its zk-SNARKs (zero-knowledge proof cryptography). Vitalik and Snowden vouch for Zcash and Zooko is behind it and there is a dedicated group of experienced cryptographers and engineers working on it. Yes, sometimes, you have to sacrifice a little bit of decentralized feature in exchange for centralized efficiency. Now that the controversial founder's reward is gone and the high inflation rate is cut in half after the November's halving, I expect ZEC fundamental to be strengthened which will in turn attract more investors. Dash (check my Dash posts below) may have more daily active addresses and transaction per day than ZEC, but ZEC has the highest daily transaction volume among the big three anon/privacy-focused coins (ZEC, XMR, DASH). Weekly chart has just turned bullish as shown by most technical indicators. ZEC seems like it's ready for the breakout as it's extremely undervalued. Time to accumulate ZEC and place the stoploss below $50. Just my opinion. Not the investment advice.
KRAKEN:ZECUSDLong
by Libratus
Zcash forming triangle / bouncing off bottom of diagonal channelZcash is forming a red triangle while bouncing off of the bottom of zone 3 (lower part of diagonal channel) If we can see enough strength to pass through the 38% fib retracement, the 100 day moving average (pink line) and the red triangle we could see a move to to roughly 110 USD ( line y, 23% ret and upper red trend line resistance). Watch for RSI to approach 70. If we breach 70 its possible we could see a move to the upper end of zone 3, finding resistance at the bottom of zone 4. Watch for stochastics to embed about 80 Falling out of the triangle to the downside could result in a drop to zone 1, with line w and the 76% retracement as support.
by FOMONOMO