Polygon Labs and NEAR announce ZK prover for WASM integration

The developers of the NEAR and Polygon networks are teaming up to create a zero-knowledge (ZK) prover for Web Assembly (WASM) blockchains, according to a joint announcement on Nov. 8. The new prover, called “zkWASM,” will for the first time allow WASM-based networks to join the Polygon ecosystem.

Zero-knowledge, meet Web Assembly.

The NEAR Foundation and @0xPolygonLabs are set to deliver the future of zero-knowledge for WASM based blockchains with zkWASM.

Empowering greater security, scalability, developer flexibility, and interoperability in the open web

zkWASM will… pic.twitter.com/D1BIztjMI9

— NEAR Protocol | NEARCON | November 7-10 | Lisbon! (@NEARProtocol)… Read more on Cointelegraph

Bitcoin Beyond BIP-300: What Future Holds For ‘DeFi On BTC’

Does Bitcoin need any sidechains for its future? The DeFi community nowadays is split between “yes” and “no” as an answer to this question after the resurgence of a six-year-old proposal. Since the controversy around sidechains involves advanced crypto language, let’s cover the basics first and then take a deeper look into the pros and cons of the proposal as well as any potential solutions.

Before we delve into the specifics of BIP-300, it’s worth mentioning that there are alternative approaches to expanding Bitcoin’s utility that don’t involve sidechains. One such approach is merged mining, which allows Bitcoin’s Proof-of-Work (PoW) to be shared with more chains at no extra…

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Top 10 Trending Crypto Coins of The Day

  1. inSure DeFi: Market Cap of $122 Million.
  2. Dione: Market Cap of $32 Million.
  3. Toncoin: Market Cap of $5.7 Billion.
  4. Kujira: Market Cap of $292 Million.
  5. XDEFI: Market Cap of $12 Million.
  6. Toshi: Market Cap of $11 Million.
  7. RabbitX: Market Cap of $12 Million.
  8. Illuvium: Market Cap of $438 Million.
  9. Tectum: Market Cap of $47 Million.
  10. Arbitrum: Market Cap of $1.3 Billion.

Disclaimer: Market capitalizations can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

HSBC to round out tokenization offering via custody play

HSBC is getting set to offer digital assets custody services to institutional investors just a week after enabling the ownership of tokenized gold.

The London-based company’s upcoming capability would allow for the safe-keeping of tokenized securities — such as bonds and other products — issued on third-party platforms.

The offering, which would not custody other crypto assets or stablecoins, is expected to go live in 2024, the company said Wednesday.

HSBC is for now steering clear of custodying crypto assets beyond tokenized securities as such currencies remain “to a large degree unregulated,” a person familiar with the matter told Blockworks. 

The financial giant is set to…

Read more on Blockworks

Top Crypto Transaction Speeds Unveiled: Ranking by Transactions Per Second

Explore the transaction speeds of popular cryptocurrencies measured in Transactions Per Second (TPS):

  • Toncoin: Leads with 104,775 TPS.
  • Near Protocol: Follows with 100,000 TPS.
  • Solana: Achieves 65,000 TPS.
  • Polygon: Processes 65,000 TPS.
  • Hedera: Matches with 10,000 TPS.
  • Algorand: Delivers 7,500 TPS.
  • Avalanche: Performs with 4,500 TPS.
  • EOS: Carries out 4,000 TPS.
  • TRON: Handles 2,000 TPS.
  • BNB: Manages 1,500 TPS.
  • Cardano: Conducts 1,000 TPS.
  • XRP: Offers 1,000 TPS.
  • Polkadot: Provides 1,000 TPS.
  • Ethereum: Runs 33 TPS.
  • Ethereum Classic: Supports 15 TPS.
  • Dogecoin: Facilitates 33 TPS.
  • Bitcoin: Has 7 TPS.

This concise list showcases the varying efficiencies of blockchain technologies in processing transactions, from the most to the least rapid.

PS: The #Bitcoin Lightning Network is capable of processing an impressive 1,000,000 transactions per second.

Bitcoin Inscription Number 76 Sells for $60,000 in Latest Sub-100 Ordinals Sale

BTC Inc., through its Ordinals-focused division Rare BTC, has brokered the sale of inscription number 76 for 1.7 BTC, which is equivalent to approximately $61,000 at the time of sale.

The sale is indicative of the active interest and perceived value in the Ordinals space, with Rare BTC positioning itself as a key player in the market for these distinctive bitcoin-based digital artifacts and unique satoshis.

The bitcoin ecosystem saw Ordinals generate a craze earlier this year, between May and June, with trading volume nearing that seen on Ethereum NFTs and leading to a spike in bitcoin fees. After a somewhat dull summer, Ordinals activity is back and already nearing the highs seen in May….

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Everyone's Thinking About Second Layers Is Backwards

I have written quite a bit about my concerns regarding drivechains and miner incentives over the years, because I think it is a very important set of risks to be aware of. Bitcoin is almost 15 years old as a live network at this point, and it has stood up to a good bit of pressure and outright malicious griefing and attacks over those 15 years. Bitcoin has withstood internal attacks from developers trying to radically alter the system, it has withstood the same attack from most of the major businesses in the space, it has survived what could have been fatal and catastrophic bugs, super powers banning it, wild price volatility, etc. It has stood up to everything to date that has been…

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How to manage crypto losses on tax returns in the US, UK and Canada

Cryptocurrency taxation is a subject of increasing importance, with governments worldwide working diligently to establish clear rules for taxing digital assets. In the United States, the United Kingdom, and Canada, crypto holders navigate complex regulatory landscapes, making it crucial to understand how crypto losses are taxed and their potential impact on tax liability. Whether new to crypto trading or with years of experience, reporting income and paying applicable taxes in compliance with local regulations is essential.

To comply with local cryptocurrency taxation laws, crypto holders must stay informed and compliant to avoid legal issues. This article examines the rules, deductions…

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Pay and dump? How businesses accepting crypto payments influence adoption

Cryptocurrency enthusiasts often argue that businesses need to start accepting crypto as payments for adoption to grow — boosting usability and potentially creating strong demand for these currencies.

Some crypto communities often focus heavily on growing business adoption, with maps now compiling businesses worldwide that accept different cryptocurrencies as a payment method.

But if a business accepts cryptocurrency payments only to dump them on the market, it may undermine the entire effort, as the assets are just being sold back on the market right after payment.

Moreover, a business accepting cryptocurrency payments through a third-party processor isn’t adhering to the…

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LATEST: Switzerland’s SEBA Bank Secures License for Crypto Services in Hong Kong

Switzerland’s SEBA Bank has secured a license from the Hong Kong Securities and Futures Commission (SFC), allowing its subsidiary, SEBA Hong Kong, to provide various crypto-related services in the region. The license covers securities, including digital asset products like OTC derivatives, marking SEBA’s entry into the Asia Pacific market. Additionally, SEBA can now offer advisory services on securities and digital assets, as well as asset management for discretionary accounts. This development enhances Hong Kong’s position in the global crypto economy, with the city’s stringent regulatory framework attracting only a select few crypto firms.