AntChain Integrates Zero-Knowledge Proof for Enhanced Privacy and Verification in Web3.0 Era

Ant Group’s AntChain has announced a new architecture upgrade for its privacy collaboration platform, AntChain FAIR, introducing Zero-Knowledge Proof (ZKP) as a core technology for verifiable computation. This extends trustworthy data transfer to the verification of computation processes, data attributes, and identities.

ZKP is a cryptographic technique that enables one party (the prover) to demonstrate to another party (the verifier) that they are aware of a value or hold specific knowledge without disclosing any specifics about the information or value itself.

ZKP is seen as one of the most crucial technologies for the next five years in the Web3.0 era. It allows a prover to convince a verifier of the truth of a statement without revealing any additional useful information.

The integration of Ant’s AI security detection platform “Yijian” and Ant’s privacy computing platform “Yinyu” is seen as a significant future trend. Large-scale AI model training requires a lot of data, and these data need to go through privacy computing to ensure safety and reliability.

Companies and institutions adopting ZKP architecture can ensure that the entire process of data computation is carried out according to agreed conditions, is correct, and can be verified, all while maintaining privacy. This will greatly enhance the credibility of identity verification, AI model training, data transfer, asset transactions, and on-chain and off-chain collaboration, accelerating the penetration of Web3.0 into more complex industrial scenarios.

AntChain has optimized software algorithms to accelerate the “proof generation” phase to 2.8 times the original baseline. This phase involves generating a “proof” for data, identity, computation process, etc.

To lower the threshold for using ZKP, AntChain FAIR has introduced zkWASM, a new type of ZKP virtual machine, into its trusted computing architecture. This allows for instruction-level verifiable features and supports the conversion of algorithm programs written in various front-end languages without the need to understand complex underlying algorithm details.

AntChain FAIR is a privacy collaboration platform for data transfer, combining the advantages of blockchain and privacy computing. It resolves the natural contradiction between data sharing and privacy protection in the data flow process. It is currently being used in several data exchanges, including the Hangzhou International Digital Trade Center and the Guizhou Big Data Exchange.


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Ripple XRP Q2 2023: Market Cap Decline while NFT Transactions Rise, Reported Messari

According to a recent analysis by Messari, the XRP Ledger (XRPL) saw growth and fall in the second quarter of 2023. Despite a 10.7% quarter-over-quarter (QoQ) decline in market cap from $27.8 billion to $24.8 billion, the XRPL, a ten-year-old platform renowned for its quick, energy-efficient, cross-currency, and cross-border payments, saw its native token, XRP, maintain its position as the sixth-largest cryptocurrency by market capitalization.

The XRPL’s market performance was a tale of two halves. The year-to-date (YTD) increase of 42.5% in XRP’s circulating market cap was primarily driven by a surge in Q1. However, Q2 saw a decline in market cap, reflecting a broader downturn in network activity metrics. Average daily transactions and active addresses fell by 11.9% and 17.6% QoQ, respectively, returning to levels last seen in Q3 2022.

Despite the overall decline in network activity, the XRPL saw a 12.7% QoQ increase in average daily Non-Fungible Token (NFT) transactions, from 13,800 to 15,500. This growth was led by NFTokenCreateOffer, which now accounts for over half of all NFT transactions on the XRPL.

The XRPL continues to innovate and expand, with new sidechains like Coreum and Root Network offering developers more programmability for exploring security tokenization and metaverse applications. The EVM sidechain and XLS-38d bridge also saw further iterations, with developers now testing transfers between Issued Currencies and ERC-20s, among other features.

Despite these advancements, the XRPL’s ecosystem still lacks native support for smart contracts, a feature present in programmable settlement networks like Ethereum, Cardano, and Solana. However, the XRPL’s design choice to not enable arbitrary smart contracts on the base layer is a deliberate move to ensure maximum security and stability.

Multiple sidechains for the XRPL are either in development or have recently launched, in line with the platform’s vision of minimized Layer 1 complexity. These sidechains are set to provide increased programmability for both general and specific use cases, further expanding the XRPL’s capabilities.

In conclusion, the XRPL saw growth and drop in Q2 2023. Despite declines in network activity and market valuation, the platform witnessed an increase in NFT transactions and continuing development of sidechains. 

Image source: Shutterstock


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Ripple’s CBDC Team Reveals Real Estate Tokenization

Antony Welfare, Ripple’s CBDC adviser, recently participated in a fintech conference in Central and Eastern Europe (CEE), where he presented two groundbreaking use cases. One of these is the tokenization of real estate, a concept that is rapidly gaining momentum as a potential future for the real estate industry, as he claimed

The e-HKD, a hypothetical digital currency, and tokenized real estate are three distinct protocols that Ripple is currently experimenting out. This innovative method enables users to tokenize real estate assets and utilize them as loan collateral, which has the potential to increase access to real estate financing for more individuals.

This will be made feasible by using the secure, private, and permissioned ledger known as the Ripple CBDC Platform. This platform was developed to make it simpler to manage tokenized assets and digital currencies securely, effectively, and decentralizedly.

With the Non-Fungible Tokens (NFTs), Ripple has already established a presence in the real estate sector prior to this development. In order to use the XRP Ledger for the purpose of creating and dispersing NFTs indicating property ownership, ProprHome engaged into a cooperation with Ripple in November 2022. This would simplify the house buying, selling, and renting processes.

Blockchain technology has already been employed in real-world real estate transactions in certain cases. Leslie Alessandra utilized a blockchain and a non-fungible token (NFT) to finalize the sale of her house in Gulfport, Florida, in February 2022, making her the first individual in the United States to sell a property in this manner.

The Central Bank of Russia (CBR) looked at the use of CBDCs for the settlement of real estate transaction transactions in June 2022.

On the other side, tokenizing real estate is not without its share of challenges. Hong Kong Securities and Futures Commission (SFC) has listed many suspected unauthorised projects related to real estate tokenization. 

Image source: Shutterstock


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