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EY Releases New Version of Zero-Knowledge Proof Blockchain to Public Domain

British auditing giant EY has released a new iteration of its zero-knowledge proof (ZKP) blockchain, intending to cut transaction costs by 90%.

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British auditing giant EY has released a new iteration of its zero-knowledge proof (ZKP) blockchain, intending to cut transaction costs by 90%.

A ZKP is a digital protocol that enables data to be distributed between the two participants without using a password or any associated information in the transaction.

According to an announcement on Dec. 19, EY released its third-generation ZKP blockchain technology to the public domain on the Ethereum blockchain.

The new ZKP blockchain aims to make private transactions on public blockchains more scalable by decreasing transaction costs by combining multiple private transfers in a single transaction. 

Specifically, the new iteration reportedly can batch up to 20 private transfers in a single transaction, reducing the transaction cost to $0.05. Available on GitHub, the new product is reportedly a 400-fold improvement over the initial EY blockchain prototype unveiled in October 2018, the announcement notes.

Paul Brody, EY global blockchain leader, noted that the new technology is potentially the “most important EY blockchain milestone” in its global effort to scale public blockchains. Brody noted:

“With this iteration, we cut the cost per transaction by more than 90% again, making private transactions more accessible for mainstream business application.”

EY launches token and smart contract testing service in public beta

The news comes just a day after Brody revealed that EY is planning to soon launch its smart contract and token testing service in beta. In a Reddit post on Dec. 18, Brody said that the beta product is available for review:

“As we previously announced, we are developing a smart contract and token testing service and planning to launch it in production shortly. A public beta of the initial version is now available for users to try out.”

As the EY smart contract and token testing product is available for the public, the firm is waiting for feedback and suggestions for further features, Brody said. In a tweet on Dec. 19, Brody revealed that the new service has received positive reactions despite it being “still early days for this product.”

Source: https://cointelegraph.com/news/ey-releases-new-version-of-zero-knowledge-proof-blockchain-to-public-domain#new_tab?utm_source=rss&utm_medium=rss&utm_campaign=ey-releases-new-version-of-zero-knowledge-proof-blockchain-to-public-domain

Blockchain

Cardano (ADA) Price Analysis: Support Turned Resistance Near $2.30

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  • ADA price started a sharp decline from the $2.60 zone against the US Dollar.
  • The price is now trading below $2.50 and the 55 simple moving average (4-hours).
  • There is a crucial bearish trend line forming with resistance near $2.35 on the 4-hours chart (data feed via Bitfinex).
  • The price could remain in a bearish zone as long as it is below the $2.35 resistance zone.

Cardano price is down over 10% and it broke the $2.20 support against the US Dollar, similar to bitcoin. ADA price must clear $2.35 to start a fresh increase.

Cardano Price Analysis

After struggling to clear the $2.65 zone, cardano price started a major decline against the US Dollar. The ADA/USD pair broke the $2.50 support to move further into a bearish zone.

The price even broke the $2.20 support level and settled below the 55 simple moving average (4-hours). Finally, there was a spike below the $2.00 level. A low was formed near $1.973 before the price recovered higher. There was a wave above the $2.00 and $2.05 levels.

The price also surpassed the 23.6% Fib retracement level of the recent decline from the $2.58 swing high to $1.97 low. An immediate resistance on the upside is near the $2.20 level.

The first major resistance is forming near the $2.35 level. There is also a crucial bearish trend line forming with resistance near $2.35 on the 4-hours chart. The trend line is close to the 50% Fib retracement level of the recent decline from the $2.58 swing high to $1.97 low.

If there is an upside break above the $2.35 zone, the price could rally above $2.40. The next major resistance could be near the $2.50 level. On the downside, an immediate support is near the $2.05 level. The main support sits near the $2.00 level. Any more losses might call for a sharp decline to $1.85 in the near term.

Cardano (ADA) Price

Cardano (ADA) Price

The chart indicates that ADA price is now trading below $2.20 and the 55 simple moving average (4-hours). Overall, the price could remain in a bearish zone as long as it is below the $2.35 resistance zone.

Technical Indicators

4 hours MACD – The MACD for ADA/USD is still in the bearish zone.

4 hours RSI – The RSI for ADA/USD is now well below the 50 level.

Key Support Levels – $2.05 and $2.00.

Key Resistance Levels – $2.20 and $2.35.

Tags: ADA, Cardano
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Source: https://www.livebitcoinnews.com/cardano-ada-price-analysis-support-turned-resistance-near-2-30/>

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Binance to cease these crypto-derivative offerings in Australia

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Once upon a time, regulators around the world weren’t confident about handling the crypto-ecosystem. This attitude, however, has changed of late thanks to the industry’s growth and the interest it has seen from traditional institutions and major investors.

The aforementioned change isn’t universal, alas, with some crypto-entities still coming under a lot of regulatory fire. Binance is a case in point. The platform has come under increased scrutiny from a growing number of regulators worldwide, including regulatory authorities from the U.K, the U.S, the Netherlands, and Canada.

Australia too has now been added to this ignominious list.

According to an official announcement made by the exchange, Binance will no longer offer Futures and Options trading in Australia. It read,

“As Binance constantly evaluates its product and service offerings to comply with local regulations, we will cease offering the following products to existing Australian users: Futures, Options, Leveraged Tokens”

Moreover, it revealed that ‘existing Australian users will have 90 days to reduce and close their positions for these products.’ Post 23 December, users will no longer be able to manually reduce their positions, and all remaining open positions will cease.

What does this mean for Binance and its executives?

Well, the aforementioned step is in alignment with its executives’ aim – To create a sustainable ecosystem around blockchain technology and digital assets. In fact, according to one of its executives,

“Binance welcomes developments to our industry’s regulatory framework as they pose opportunities for the market players to have greater collaboration with the regulators. We are committed to working constructively in policy-making that seeks to benefit every user.”

This move followed last month’s restrictions on Options, margin products, and leveraged tokens (New accounts were barred from engaging in).

And the “nightmare” continues… 

Binance took a similar hit in a different part of the world less than two weeks ago. It discontinued support for trading pairs in the Singapore dollar (SGD), again due to regulatory crackdown(s).
Binance found itself in troubled waters earlier this year, with regulators around the world zeroing in on the top exchange. The regulatory pressure forced the leading crypto-company to adopt a proactive approach to compliance. That being said, the jury is still out on whether these steps have been making any difference?
Moreover, US authorities are probing possible insider trading and market manipulation allegations involving Binance. The exchange, for its part, has denied these speculations. Binance has a “zero-tolerance policy for insider trading,” a statement said.
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Source: https://ambcrypto.com/binance-to-cease-crypto-derivative-offerings-in-australia

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Robinhood Testing New Cryptocurrency Wallet as Demand Rises

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The millennial-focused trading portal is edging closer to launching a long-awaited app that will enable its growing user-base to send and receive cryptocurrencies.

A beta version of Robinhood’s iPhone app showed the company’s latest upgrades on the new digital asset features, according to Bloomberg.

There is a hidden image showing a waiting list for users eager to get their hands on the app and code referring to crypto transfers, it added.

Delving Deeper into Crypto

Robinhood users can already buy and sell cryptocurrencies on the platform but they need to convert them to and from USD. With a native app, users will be able to send crypto assets to each other directly and set up two-factor authentication for additional security.

Robinhood Chief Executive Officer Vlad Tenev stated that adding crypto wallets is a priority for the company’s developers and they are actively working on such.


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“The ability to deposit and withdraw cryptocurrencies is tricky to do with scale, and we want to make sure it’s done correctly and properly.”

He did not specify a launch date, but the beta app leak suggests it is not too far away. Users of the new functions will need to activate crypto sending and receiving and the registration page will require an identity check, the report added.

On Sept. 11, CryptoPotato reported that Robinhood had launched incentives to promote longer-term cryptocurrency investing. The zero-fee recurring purchase feature enables users to schedule digital asset purchases for regular intervals with buys as low as a dollar.

This will encourage customers to build their cryptocurrency portfolios over time and “become a whole coiner,” stated Robinhood.

Robinhood Users Hungry For Crypto

Cryptocurrency trading has been one of the biggest drivers of revenue for Robinhood this year. Dogecoin has been the crown jewel, according to the company. It reported that 62% of its $233 million in second-quarter crypto income came from DOGE trading.

It added that more than half of all transaction-based revenue on the platform came from digital asset trading. The firm did warn that Q3 would not be as prosperous due to “seasonal headwinds and lower trading activity across the industry.”

Robinhood share prices have already fallen 43% since their all-time high of a little over $70 in early August. They are currently trading down 1.68% since Monday’s open at $40.70 according to Yahoo! Finance.

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Source: https://cryptopotato.com/robinhood-testing-new-cryptocurrency-wallet-as-demand-rises/

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