updraftplus domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131hustle domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131wpforms-lite domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/aonyeani76/cryptocurrencypanther/wp-includes/functions.php on line 6131BitcoinOS, a superlayer protocol of trustless and interoperable Bitcoin rollups, has successfully verified the first-ever zero-knowledge proof (ZK-proof) on the Bitcoin mainnet, marking a groundbreaking milestone in crypto history. This unlocks unlimited scaling and functionality on Bitcoin without requiring any soft fork.
BitcoinOS created a historic moment in the crypto history making Bitcoin infinitely upgradable in a permissionless manner while requiring no changes to the consensus code. This means developers can build on Bitcoin blockchain without soft forks, enabling unlimited scaling and functionality.
The team confirmed that they successfully verified the first-ever ZK-proof on the Bitcoin mainnet. The final verification was confirmed in block 853626. The team also successfully controlled both BTC and Ordinals with a ZK-Bitcoin smart contract.
“This is the first permissionless upgrade of the Bitcoin system and the first time Bitcoin has been upgraded without a soft fork. With BOS, the dependence on Bitcoin Improvement Proposals to introduce changes such as covenants to Bitcoin is massively reduced or, potentially, completely eliminated,” said Edan Yago, core contributor to BitcoinOS.
Also Read: Here’s Why Ethereum Price Is Falling Today
The major development paves the way for more developers to build on the blockchain more efficiently and enables true decentralization. Bitcoin blockchain can rival the functionality of other crypto like Solana. It will help bring the $1.1 trillion altcoin market back home to the Bitcoin network.
BitcoinOS asserts the first ZK Proof Ordinal will also become available soon as developers. The team has also built a blockchain explorer for Bitcoin ZK transactions.
They will be celebrating the start of a new era for Bitcoin at the Bitcoin Conference in Nashville, Tennessee. The conference is expected to witness a massive gathering of crypto experts and enthusiasts. Donald Trump’s speech is the most talked about event in the conference.
BTC price fell 2% in the past 24 hours, with the price currently trading below $64,500. The 24-hour low and high are $63,833 and $67,113, respectively. Furthermore, the trading volume has increased slightly in the last 24 hours.
Also Read: Ripple CEO Brad Garlinghouse Defends Kamala Harris Amid Crypto Backlash
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The recently released Ether (ETH) vault on the cryptocurrency self-custody platform Casa now features new functionality that enables users to conduct transactions over a relay for increased secrecy.
In June 2023, Casa expanded its initial Bitcoin (BTC) custody offering to include a multi-signature Ethereum self-custody vault, enabling users to control the self-custody of their ETH holdings using up to five private keys to protect their assets.
Previously, the internal Casa Relay, allowed users to communicate between their ETH vaults and the Ethereum blockchain. Users could deploy contracts and send transactions while fronting gas fees through this bridge.
However, the company pointed out that the feature has one limitation: users’ Ethereum addresses connected to Casa can be seen by anyone using tools for blockchain scanning. The new relay service, called ETH pay wallet, comes in here.
The ETH pay wallet is a brand-new single-signature alternative wallet that can operate as a relay to carry out transactions from a vault. Gas fees and transactions received from an ETH pay wallet are not connected to Casa on-chain, according to Casa CEO Nick Neuman.
Neuman stated that the feature had been under development prior to the introduction of its ETH custody vault and offered users the chance for customization.
However, Neuman clarified that the ETH pay wallet will not provide anonymity associated with obfuscation technologies across the cryptocurrency ecosystem.
The service requires more steps than the Casa Relay does, and users must pay petrol costs with their own wallets. However, the enhanced privacy for customers who want to avoid having their on-chain ETH addresses linked to Casa is worth it.
Chinese super app WeChat is the second multipurpose social media platform in the country, after Alipay, to integrate digital yuan payments.
WeChat has integrated the digital yuan into its platform to facilitate faster and more seamless user payments. The move by the leading Chinese social networking and payment app also serves to broaden the appeal of e-CNY.
WeChat is the second local payment platform to support the digital yuan after Alipay. According to Kandong researcher Hu Hao:
“As the two mobile payment giants [in China], WeChat Pay and Alipay are expected to provide powerful support for the application and promotion of e-CNY through its express payment system.”
Both super apps offer many functions, from catering and retailing to medical services. These services are set up to ensure convenience on the respective ecosystems of Alipay and WeChat. In addition, the two super apps onboarded digital yuan payment schemes to reinforce customer loyalty in the face of rising competition.
As Trivium China analyst Linghao Bao pointed out:
“Chinese consumers are so locked in WeChat Pay and Alipay; it’s not realistic to convince them to switch to a new mobile payment app. So, it makes sense for the central bank to team up with WeChat Pay and Alipay as opposed to doing it on its own.”
The digital yuan’s pilot “Wallet Quick Payment Management” page currently shows 94 accessible merchant platforms, including WeChat.
The move comes amid the global adoption, implementation, and rollout of central bank digital currencies (CBDCs) across the globe.
The WeChat e-CNY feature enables the usage of the digital yuan for payment on certain mini-programs, as well as other platforms. Users can now pay bills or order food from McDonald’s using the CBDC payment feature.
The WeChat e-CNY payment feature is available to users in 26 cities, with more coverage and future payment scenarios to come. The Chinese all-purpose social media and payment app currently has a transaction limit of 2,000 yuan, or $289. In addition, WeChat currently has a daily limit of 5,000 yuan, or $720.
Users must first enable the digital yuan feature on their WeChat account and sync the digital yuan wallet operator with their WeChat-bound mobile phone number before carrying out CBDC-based transactions.
Since its introduction, the digital yuan has seen slow adoption in use cases across China. Almost two years ago, Beijing announced that the CBDC would be available for use at the Winter Olympics. At the time, government officials explained that the sporting event would serve as a testing ground for the digital currency’s applicability.
China was one of the first countries to roll out a central bank digital currency. Other early adopters of government-backed digital currencies include Nigeria (eNaira) and the Bahamas (Sand Dollars).
CBDCs are a derivative of the emerging crypto space, although CBDCs remain ‘centralized’ and government-issued.
Tolu is a cryptocurrency and blockchain enthusiast based in Lagos. He likes to demystify crypto stories to the bare basics so that anyone anywhere can understand without too much background knowledge.
When he’s not neck-deep in crypto stories, Tolu enjoys music, loves to sing and is an avid movie lover.
✓ Share: