Smart Contracts

Revolutionizing Blockchain with Verifiable Computing

Wednesday. August 28 at 1:00 AM

1 min. read

Space and Time (SxT) Labs recently secured a $20 million Series A funding round led by Framework Ventures. The company is developing a verifiable computing layer that merges artificial intelligence and blockchain technology. Various venture capital firms, including Lightspeed Faction, Arrington Capital, and Microsoft’s M12 Ventures, also participated in the funding. With a total of $50 million raised so far, SxT Labs aims to expedite engineering and product advancement. Their proof-of-SQL, a zero-knowledge circuit, enables smart contract developers to verify data integrity. This innovation could revolutionize decentralized finance by ensuring borrower credibility and asset performance tracking. The beta version of the proof-of-SQL stack has processed billions of database requests, generating significant revenue. As the blockchain industry attracts more institutional players, similar protocols like Pi Square are also enhancing onchain infrastructure. SxT Labs' CEO, Nate Holiday, envisions a future where blockchain technology eliminates the need for trust, especially as AI advancements continue to accelerate.

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Debates on Ethereum Gas Limits: Balancing Stability and Security

Tuesday. December 10 at 7:00 AM

Toni Wahrstätter, a researcher at the Ethereum Foundation, urges caution in increasing Ethereum's block gas limit due to technical challenges. The Ethereum community is discussing the potential risks and benefits of raising the gas limit to enhance network capacity. Wahrstätter points out that surpassing the current 36 million gas threshold is difficult without significant protocol upgrades, as it could lead to propagation failures and network destabilization. The proposed increase to 60 million gas per block may breach vital restrictions on block size, impacting network efficiency. Core developers stress the importance of testing and data collection to evaluate the impact of higher gas limits on Ethereum's security and reliability. The upcoming Pectra 2 network upgrade aims to address these challenges by introducing proposals to improve block sizes and network performance. Overall, a cautious approach is advised to maintain Ethereum's stability amidst ongoing debates and developments in the crypto industry.

Smart Contracts

Cardano's Milestone with Zero-Knowledge Smart Contract

Thursday. November 28 at 12:00 PM

Cardano has achieved a significant milestone by deploying its first zero-knowledge (ZK) smart contract on the mainnet. This milestone, utilizing the Plutus v3 ledger language, enhances the network's capabilities. The ZK smart contract, Halo2, enables zero-knowledge applications and partner chains like Midnight to integrate with Cardano. The Input-Output (IO) Research team verified the Halo2 proof on the mainnet for the Ad-hoc Threshold Multi-signatures scheme, validating 50 out of 90 signatures. This achievement eliminates the need for a trusted setup and addresses security risks and logistical challenges. Halo2's support for recursive proofs allows for efficient proof aggregation, targeting enhanced performance and scalability. By building on modern cryptographic primitives, Halo2 aims to enhance the overall security of zero-knowledge proof, paving the way for real-world applications to reduce costs and improve proof generation speed. Cardano's Hoskinson plans to leverage Bitcoin's code with a DeFi layer to restore its innovative edge, while Wyoming's stablecoin commission faces backlash for bypassing inclusive blockchain procedures.

Smart Contracts

Legal Victory for Immutable Smart Contracts

Wednesday. November 27 at 11:00 AM

The U.S. Fifth Circuit Court recently ruled against the Treasury's sanctioning of Tornado Cash's immutable smart contracts, stating that such autonomous software cannot be considered property. The court emphasized that when smart contracts are immutable, they cannot be classified as property subject to sanctions. This decision is seen as a significant win for privacy advocates and blockchain developers. The court highlighted that the smart contracts in question are not capable of being owned due to their immutable nature, making them accessible to all, including sanctioned entities. The ruling also emphasized that protocols built on smart contracts, operating without human intervention, cannot be classified as services. While the court's decision overturned the sanction on Tornado Cash, the broader designation and blocked status remain in place, with the case being sent back to the district court for further review.

Smart Contracts

Empowering Freedom of Speech Through Decentralization

Friday. November 15 at 4:30 AM

During the peak of the COVID-19 crisis, China enforced a two-month lockdown in Shanghai not only to combat the virus but also to suppress dissent against its zero-COVID policies. This led to the creation of Ethereum's 'based rollups.' Daniel Wang, CEO of Taiko Labs, shared his experience of being confined in his apartment during the lockdown, inspiring him to develop a decentralized publishing network where individuals can express themselves anonymously without fear of censorship. Wang emphasized the need for a robust technology to ensure true freedom of speech, leading to the creation of Taiko, a layer-2 chain that eliminates centralization and signature verifications. His goal is to demonstrate the effectiveness of based rollups and encourage collaboration within the Ethereum community to achieve scalability and decentralization. Wang's message is clear: unity and innovation are key to strengthening the Ethereum ecosystem.

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