↝ Cryptocurrency Update: Advancements and Challenges in ZK Coin
Babylon Labs ushers in a fresh wave of momentum into Bitcoin ZK Tech via a bridge to Cosmos Chains. Alpen Labs raised $8.5m to further develop...
The cryptocurrency market has recently witnessed significant activity revolving around ZK Coin. Notably, Merlin Chain and BitcoinOS have unveiled a ZK-powered Bitcoin bridge. Anomalous advancements in ZK technology are reflected in the unveiling of Ether.fi's 'crypto-native' credit card on ZK-rollup Scroll, and the $12.5M raised by Pi Squared for its 'Universal ZK Circuit'.
On the downside, ZkSync (ZK) has faced a sharp decline in network activity, and the associated total value locked (TVL) has hit year-to-date lows. Further controversy arose when Matter Labs filed for a 'ZK' trademark, a move that sparked industry demands for withdrawal which were eventually met. Meanwhile, ZK's token airdrop, valued close to $800M, has also made waves with almost 700K wallets eligible.
StarkWare and Polygon have continued contributing to the ZK landscape, with the former launching a $1M fund for ZK Bitcoin scaling and verifying the first zero-knowledge proof on Bitcoin. Polygon has rolled out a new proving system and launched the upgraded Plonky3. Binance has also announced a ZK token airdrop following its listing of ZKsync.
Citrea's announcement of the first ZK Rollup on Bitcoin and the emergence of the distressed privacy element of ZK Proofs are other developments of note. Amid these, the price of ZK Coin clearly sits on a precipice, influenced by the market's gyrations and affected by fresh stirrings in the ZK saga's unfolding storyline.
ZK Coin News Analytics from Tue, 06 Feb 2024 08:00:00 GMT to Tue, 10 Sep 2024 19:36:37 GMT - Rating 0 - Innovation 2 - Information 7 - Rumor -4