Web3 Hand-copied Newspaper: This week's industry hotspots and explosions that should not be missed
Foresight News gives you a quick look at this week’s trending topics and recommendations:
01 Web3er
Vitalik: Exploring the Future and Challenges of ZK-EVM
“Buying CoinDesk, bidding on FTX assets, who is at the helm of Bullish?”
Interview with Joanna Zeng, VP of Aleo: 4 Years, $300 Million, ZK’s ‘Double Value’ Will Surface
02 Behind the Scenes
Forbes: The Dilemma and Redemption of the Crypto Empire DCG
Speaking in the Data: How Much of an Impact Does a16z Have on Compound?
03 Industry News
“In the case of DYDX, will large unlocks have a huge negative impact on the token price?”
How to Maximize Returns in a Bull Market?
“Contract Bulls Slaughtered, Where Will the ‘Christmas Market’ Go?”
04 Privacy & Security
IANT: Building in the Dark, Mapping the Current Crypto Privacy Landscape
“A ‘nuclear bomb’ vulnerability hits Twitter, and hackers can take control of your account?”
05 Project Observation
“Open beta is coming, explore the panorama of the iGames ecosystem construction of the chain game aggregation platform”
Demystifying the Presale Portal: From Viral Marketing, Background to Platform Economy
01 Web3er
This week, Vitalik Buterin published a new article detailing the concept of “ZK-EVM”, introducing several possible versions of “built-in ZK-EVM”, and discussing the trade-offs and design challenges, as well as the reasons for not going in a particular direction. Recommended Articles:
Vitalik: Exploring the Future and Challenges of ZK-EVM
In addition to the basic functional correctness and security guarantees, the most important attribute is speed. While we can design the ZK-EVM feature within the protocol, which is asynchronous and only returns each declared answer after a delay of N slots, the problem becomes much easier if we can reliably guarantee that a proof will be generated in a matter of seconds, no matter what happens in each block is self-contained.
While it takes many minutes or hours today to generate proofs for ETH blocks, we know that there is no theoretical reason to prevent mass parallelization: we can always combine enough GPUs to prove the parts of a block’s execution separately and then put the proofs together using recursive SNARKs. In addition, hardware acceleration through FPGAs and ASICs can help further optimize proofs. However, getting to this point is a huge engineering challenge that should not be underestimated.
Tom Farley left the New York Stock Exchange to pan for gold at SPACs before turning to cryptocurrencies before the market peaked. Now, Tom Farley is running a crypto exchange that his SPAC failed to acquire, and acquiring troubled crypto assets. Recommended Articles:
"** Acquisition of CoinDesk, Bidding for FTX assets, who is Bullish at the helm?******
Farley’s idea that FTX might be revived was endorsed by Gary Gensler. CNBC quoted the SEC chairman as saying, “If Tom or anyone else wants to get into this space, I’d say, ‘Do it within the law.’” "Build investor trust in what you’re doing, make sure there’s proper disclosure, and make sure you’re not trading with your clients or using their crypto assets for your own purposes. 」
The four-year contract has expired, and Aleo, who is about to launch on the mainnet, wants everyone to realize that “ZK can be used for both blockchain scalability and privacy”. Recommend this interview article:
Interview with Joanna Zeng, Vice President of Aleo: 4 years, $300 million, ZK’s “double value” will surface
From the perspective of mainnet launch, Aleo could also be a glimmer of hope. Because those who really know us, who know our community, who know that we are a protocol that delivers everything that we promise, including privacy, permissionlessness, scalability, programmability, and Sybil resistance, are very difficult problems to solve.
We are confident that Aleo will be able to bring hope to our friends in the industry through the mainnet.
In addition, the Asia-Pacific region (APAC) is also a key market for Aleo’s next step, and our core team has recently visited various core gathering points in the Asia-Pacific region, and is full of anticipation for the future development potential of the Asia-Pacific region.
The story behind 02
In May 2022, the domino effect following the collapse of Terra quickly wreaked havoc on the entire crypto industry. Within a year, Celsius Network, BlockFi, Voyager Digital, and FTX all filed for bankruptcy, and the once-glamorous crypto CEO was either sent to court or jailed. And for Barry Silbert and his Stanford, Connecticut-based Digital Currency Group (DCG), the impact of the Terra collapse was like quicksand. Recommended Articles:
Forbes: The Dilemma and Redemption of the Crypto Empire DCG
Silbert’s crypto winter continues, and the former billionaire faces a series of serious problems:
- New York State Attorney General Letitia James sought to ban DCG and Genesis from doing business in New York as punishment for allegedly defrauding investors by trying to cover up more than $1.1 billion in losses related to the collapse of Singapore’s Three Arrows Capital, a crypto hedge fund that was one of the largest Genesis borrowers.
- Cameron Winklevoss, president of cryptocurrency exchange Gemini, has also accused Silbert and DCG of defrauding Gemini depositors. Bloomberg, citing sources familiar with the matter, said the FBI, the Securities and Exchange Commission and state officials are investigating the allegations.
- Genesis accused the parent company of treating it as a “de facto” coffer, without proper corporate control. It requires DCG to repay more than $320 million of loans due in May 2023 by April 2024. Under the proposed bankruptcy plan filed on November 28, DCG has agreed to the new terms.
- Many Genesis creditors rejected DCG’s latest recovery proposal in August. The new program allows Genesis to sue DCG on a variety of grounds. DCG said such allegations were baseless, while Genesis said it would rather settle than hold its former parent company accountable in court.
Studying the project holdings, it can be found that the impact of capital on the project cannot be ignored. Recommended Articles:
****** Speak with Data: How Much Influence Does a16z Have on Compound?******
According to our research:
- A16Z holds more than COMP 10% of the tokens
- The voting quorum reaches 4%, which is quite influential.
03 Industry News
Token unlocking, especially the one-time unlocking of “huge” tokens, is often seen by the market as a sign of huge selling pressure. Recommended Articles:
Taking DYDX as an example, will a large amount of unlocking have a huge negative impact on the token price?****
The unlocking of a huge amount of tokens does have a direct impact on the price of the token, but the specific distribution details of the unlocked share are crucial. If a large number of tokens unlocked belong to the “user side” such as the community, then the “negative impact” caused by unlocking will be significantly smaller.
The biggest bull run in the history of cryptocurrencies has just begun. Making money abounds, but few talk about how to maximize it. Recommended Articles:
"How to maximize profits in the bull market?These 6 strategies, please put them away**
If you manage to buy BTC and ETH squares at a low price, you can earn 2-10x gains in a bull market. That’s cool, but if you don’t have a lot of money, it’s not enough. You start with $1000, what’s the use of 2 times? You can’t feed a family on it. Here I will share ways to really make money.
At about 10:00 on December 11, BTC, which had been oscillating in the range of 43,500-44,000 USDT for many days, suddenly fell sharply, from a minimum of around 43,300 USDT to 40,200 USDT. In the hour before and after the fluctuation, the entire network liquidated more than 277 million US dollars, of which 267 million US dollars were liquidated by multiple orders, accounting for more than 96%, which was completely a one-way slaughter against multiple armies. Recommended Articles:
"** contract bulls were slaughtered, where does the “Christmas market” go?******
The price of the Chicago Mercantile Exchange (CME) BTC futures market is closed for two days on the weekend due to the time of operation, so there is often a price difference between the opening of the new week and the BTC spot market that continues to trade on the weekend.
The price gap of CME BTC futures has always been a “covering metaphysics” that has been verified by history for a long time - the closer the gap time, the smaller the gap difference, and the higher the probability of covering it.
The latest CME BTC price gap is 39,640 USDT on December 1, which also means that according to historical inertia, the price of BTC may pull back to $39,640 after the opening of the week to make up for the gap.
04 Privacy & Security
In the future, most on-chain transactions are likely to be private. So, how should crypto app builders navigate privacy solutions? Recommended Articles:
****iant: Building in the Dark, Drawing the Current Crypto Privacy Landscape
The main common methods for building private applications today are Trusted Execution Environment (TEE), Zero-Knowledge (ZK), Multi-Party Computation (MPC), and Fully Homomorphic Encryption (FHE). Here’s a brief overview of each approach, as well as representative projects.
The field as a whole is still in its very early stages, so the following comparison is just a prediction of how each technology will evolve in the coming years. These methods are also not equivalent or interchangeable; in general, they can be broadly divided into specialized hardware (TEE) and cryptography (ZK, MPC, FHE). In addition, many of them actually overlap. For example, FHE must be used in conjunction with ZK or MPC. That being said, by looking at the trajectory of each approach, we can draw insights into how privacy is evolving more broadly.
On December 13, Paradigm researcher samczsun tweeted again that the Twitter vulnerability has been fixed, and the technical summary is that the reflection XSS and CORS/CSP bypass in the Twitter subdomain allow arbitrary requests to the Twitter API to authenticate users locally. Foresight News briefly analyzes the attack logic of this vulnerability, as well as the security precautions and prevention methods for ordinary users. Recommended Articles:
"** “Nuclear Bomb” Vulnerability Hits Twitter, Can Hackers Take Control of Your Account?******
Because this construction code needs to be placed in the URL, the length of the malicious link will be very long.
Therefore, when users encounter ultra-long links in swiping and pushing, do not click on them, or really want to see them, they can copy them and open a browser to view them in incognito mode.
In general, don’t click on unsolicited long links on browsers that log in to your Twitter account.
05 Item Observation
iGames’ self-developed game “Tank Glory” is about to start its open beta. Recommended Articles:
"Public beta is imminent, explore the panorama of the iGames ecological construction of the chain game aggregation platform
the iGames team adopted the ERC-6551 standard to create iPocket, a new metaverse DID identity package. It is not only an effective application of the ERC-6551 standard, but also a significant expansion of the role and function of NFTs in the metaverse.
iPocket will act as an “all-in-one account” for the entire ecosystem, supporting both fungible and non-fungible tokens, such as ETH and in-game NFTs, as well as IGS, the token of the iGames ecosystem, as it serves as a medium to connect iGames’ in-house games, Ice Cream, an NFT marketplace for gaming supplies, user wallet addresses, and exchanges.
Relying on @Official Referral Accounts and the strategy of interacting with them, the Web3 gaming ecosystem Portal’s viral marketing and vision of multi-chain gaming and player integration have driven its introduction to a wider user base. Recommended Articles:
"** Pre-sale is about to reveal the secret of Portal: from viral marketing, background to platform economy****
According to the Portal whitepaper, Portal token uses include transaction fees, payment methods, helping games gain greater visibility and attention on the Portal platform through voting and staking, governance, and more. Specifically:
- To pay transaction fees.
II. All transactions within the Portal Network will support the PORTAL Token as one of the payment options in the in-game or game-related marketplace, and all fees associated with any cross-chain transactions made through the Portal Network will be denominated in the PORTAL.
- Voting and staking are also one of the main utilities of the PORTAL token.
Fourth, governance, this part of the information will be released later.