Crypto Guides, Knowledge & Insights

An Overview of Fully Homomorphic Encryption (FHE) Technology and Projects Utilizing It

FHE, short for Fully Homomorphic Encryption, allows individuals to perform computations on encrypted data in a specific form without the need to decrypt and expose the data privacy. Application areas include but are not limited to:　　Confidentiality in RWA tokenization　　On-chain identity　　MEV protection　　Privacy-preserving on-chain medical data　　Making DeFi compliant with data protection and privacy laws　　FHE is a concept within the broader scope of technology on the internet and has been around for some time. It gained attention with Fhenix Network integrating FHE functionality into Ethereum and launching the fhEVM solution. Any developer can integrate FHE functionality into transaction flows in the form of pre-compile binaries.　　The mainstream privacy technologies currently available in the market：　　The privacy technologies adopted in the encryption industry mainly revolve around ZKP (Zero-Knowledge Proofs). The difference between FHE and ZKP lies in:　　ZKP addresses the issue of consistent transmission of data under encryption. The data submitter can prove the authenticity of the data to the receiver without revealing the specific data, making it a point-to-point encryption scheme. Particularly, lightweight zk-SNARKs have been widely used in layer2 Rollups.　　On the other hand, FHE aims to tackle the problem of re-computation under encrypted data transmission. This constitutes a more extensive encryption scheme, accommodating many-to-many interactions.

2024-03-15Deep Dive

How Does the Ethereum Dencun Upgrade Affect Layer 2 and Gas Fees?

With the completion of the Ethereum Dencun upgrade, various Layer 2 solutions have also announced corresponding upgrades. What impact will the Dencun upgrade have, and what are its underlying principles？ The following text will provide a detailed explanation：What is the Dencun Upgrade？ What are the Key Focus Areas？　　The Dencun upgrade, essentially a combination of the Deneb and Cancun upgrades, targets both the consensus and execution layers. The Dencun upgrade incorporates nine EIPs (Ethereum Improvement Proposals), including:　　EIP-1153: Transient Storage Opcode　　EIP-4788: Beacon Block Root in EVM　　EIP-4844: Sharding Blob Transactions　　EIP-5656: MCOPY Opcode for Memory Copy　　EIP-6780: SELFDESTRUCT in the Same Transaction　　EIP-7044: Perpetually Valid Voluntary Exit Signatures　　EIP-7045: Maximum Gap for Proof Inclusion　　EIP-7514: Maximum Epoch Attrition Limit　　EIP-7516: BLOBBASEFEE Opcode　　The spotlight of the Dencun upgrade is on EIP-4844. Also known as Proto-Danksharding, EIP-4844 serves as a precursor to the mainstream sharding approach in the Ethereum community, Danksharding. The primary objective of EIP-4844 (Proto-Danksharding) is to introduce a new transaction type called “Blob transactions” to Ethereum. These transactions add an additional temporary data space, called Blob, to the Ethereum mainnet specifically dedicated to processing Layer 2 related transactions, thereby significantly reducing the transaction cost of Layer 2.　　Whether its Optimistic Rollup or ZK Rollup, any Layer 2 that relies

2024-03-14Deep Dive

Industry Thought Leader: WikiBit Attends Singapore Association and CBDC Subcommittee Meeting

On February 29, 2024, WikiBit Operation Manager Arvin participated as a representative in the inaugural meeting of the Blockchain Association of Singapore (#BAS) and CBDC Subcommittee. The meeting focused on the legislative proposal to implement the regulatory regime for stablecoin issuers in Hong Kong.　　The meeting was chaired by Rahul Advani from RIPPLE, and attendees included representatives from various prominent institutions, including:　　Aaron Siu (UQPAY)　　Anand Vinukonda (Partior)　　Arvin (WikiBit)　　Aymeric Salley (KPMG)　　Christian Trumm (CT Advisory)　　Eric Barbier (Triple A)　　Eva Thach (IDEMIA)　　Ian Lee (Merkle Science)　　Iegreat Julianri (Infineon Technologies)　　Mogan Shieh (Anchorage)　　Nimesh Bharadia (Rose Consultancy)　　Rahul Advani (Ripple)　　Roopa Sushil (Anchorage)　　Tom Toryanik (EY)　　Wang Hao (SGTOX)　　Yam Ki Chan (Circle)　　Zack Yang (FOMO Pay)Meeting Agenda　　During the meeting, the subcommittee discussed the legislative proposal to implement the regulatory regime for stablecoin issuers in Hong Kong, jointly published by the Financial Services and the Treasury Bureau (FSTB) and the Hong Kong Monetary Authority (HKMA). The group exchanged views on the proposed approach and found it valuable to review the Treasurys proposed approach to regulating stablecoins in Australia.　　Furthermore, members discussed thought leadership opportunities for the first half of 2024. One suggestion put forward by members is the potential creation of a whitepaper/report on industry best practices for stablecoins. Members agreed that if such a whitepaper/report is

2024-03-13Deep Dive

MoleEdu | Web3 Second Edition English Public Welfare Course, Hot Enrollment Now Open...

With the arrival of 2024, Web 3.0 signals the end of the winter season and finds itself amidst a bustling bull market. More and more individuals are eager to delve into and learn about the fresh concepts and technologies brought forth by Web 3.0. The emergence of this new era signifies not only a leap in technology but also a monumental shift in redefining the essence of the digital world.　　In this prosperous moment, an increasing number of people swiftly recognize the immense potential inherent in Web 3.0. Whether developers, entrepreneurs, or ordinary users, everyone hopes to deeply engage in the wave of digital transformation by learning new technologies and concepts. Web 3.0 is not just an evolution of technology but also a revolution leading the way into the future, shaping a more open, free, and innovative digital world.　　As a one-stop blockchain community, Moledao collaborates with numerous seasoned project teams to bring the community the second edition of Web 3.0 English public welfare courses. The entire series is free, job-oriented, and committed to providing learners with the most cutting-edge knowledge. Through cooperation with industry leaders, Moledao has created a platform for in-depth learning, opening a gateway to the digital future for

2024-03-13Deep Dive

Ethereum Core Developer: EIP-4844 to Reduce Transaction Fees to $0.01

Ethereum core developer eric.eth announced on the X platform that EIP-4844 will be released on Wednesday, reducing Ethereum transaction fees to $0.01.　　Earlier reports indicated that the Ethereum Foundation announced the Dencun mainnet upgrade, expected to be activated on the Ethereum mainnet on March 13, 2024, at 21:55 Beijing time, at block height 269568. This upgrade introduces a temporary data blob with EIP-4844, also known as protodanksharding, which is expected to help reduce L2 transaction fees.　　

2024-03-12Deep Dive

HashKey Capital COO: Hong Kong Intensely Discussing Ethereum Spot ETF Prep, Initial Bitcoin ETF App

Livio Weng, CEO of HashKey Exchange, a licensed virtual asset trading platform in Hong Kong and COO of HashKey Group, stated that one of the reasons for the rapid rise in the current round of the virtual asset trading market is driven by the launch of Bitcoin spot ETFs in the United States. However, these products are currently primarily led by European and American investment institutions, lacking relevant spot ETF products in Asia. This may pose a risk for Asian investors, as they may face the risk of being led by American capital. Wong revealed that, in light of this situation, HashKey is working with partners to expedite the listing of Hong Kong spot ETFs and derivative trading products, believing that once Bitcoin spot ETF trading is opened in Hong Kong, it will attract a large amount of capital and become the preferred gateway for asset deployment in the virtual asset market in Asia.　　Regarding the specific number of the first batch of Bitcoin spot ETFs listed in Hong Kong, Wong Hiu Ki pointed out that this needs to be determined and authorized by the Securities and Futures Commission. However, considering that the United States has authorized 11 Bitcoin spot ETFs

2024-03-12Deep Dive

Cryptocurrency Investment Scams in the United States Result in $3.94 Billion in Losses in 2023

A new report from the Federal Bureau of Investigation (FBI) reveals that cryptocurrency investment scams in the United States amounted to $3.94 billion in losses in 2023, representing a 53% increase from $2.57 billion in 2022. According to the FBIs “2023 Internet Crime Report,” the total amount lost to investment scams rose by 38% from $3.31 billion to $4.57 billion. Cryptocurrency scams accounted for the majority of these fraudulent cases, underscoring the significant role cryptocurrencies play in online crime.　　

2024-03-12Deep Dive

The Top 10 Cryptocurrency Investment Narratives of 2024

With BTC breaking its previous high ($69,000 USD), the cryptocurrency market bull run is confirmed. Only tracks intriguing enough can catch investors eyes; this article delves into the hottest investment narratives in the current cryptocurrency industry.Decentralized AI　　Decentralized artificial intelligence involves running open-source AI systems on distributed networks such as blockchain, rather than being controlled by a single organization. This approach harnesses the advantages of blockchain technology to democratize artificial intelligence, making it more accessible and usable for everyone.　　OpenAIs release of ChatGPT introduces commercially viable AI into the public eye. By combining decentralized artificial intelligence with AI and blockchain, it enables more ordinary individuals to participate in the wave of the AI industry.　　For example, projects like Bittensor, Render, and Grass have established an open marketplace where individuals can train machine learning models, contribute computing resources, and share data. This creates a more inclusive and incentivizing environment for artificial intelligence innovation.Restaking　　Restaking is a strategy where investors utilize their already staked assets to earn additional rewards, effectively compounding returns. This is achieved by engaging in further staking opportunities using the staked assets on a secondary platform.　　Taking EigenLayer as an example, EigenLayer is a pioneer in the restaking movement, enabling users to restake ETH

2024-03-12Deep Dive

This Week Noteworthy Events(March 11, 2024 - March 17, 2024)

Coinbase: SECs Response to Its Rejection of Digital Asset Rule Petition Deemed Overly Brief, Next Key Date Set for March 11th　　Coinbases Chief Legal Officer, Paul Grewal, criticized the U.S. Securities and Exchange Commission (SEC) for what he deemed as an overly terse response to Coinbases petition urging for clearer cryptocurrency regulatory guidelines. In a tweet, Grewal underscored deficiencies in SECs related documents, which formed the basis for its denial of Coinbases petitions regarding digital asset rules.　　Grewal also outlined the timeline for upcoming legal proceedings, highlighting key dates: Coinbases deadline for a brief statement is March 11, SECs deadline for a brief statement is April 10, followed by Coinbases reply deadline on May 1.On-chain Gaming Marathon “Arbitrum Arcade” Kicks Off on March 11th　　According to official sources, Arbitrum Arcade will launch via the Arbitrum Portal on March 11. Arbitrum Arcade is an 8-week on-chain game marathon featuring 24 Arbitrum games. Its aim is to showcase the most innovative gaming experiences in Web3 to the community, providing exposure and rewards to emerging content creators, and recording in-game achievements on-chain through EAS (Ethereum Authenticated Service)-based Clique.Ethereum Foundation: Dencun Mainnet Upgrade Scheduled for March 13th at 13:55　　The Ethereum Foundation has released an announcement regarding the

2024-03-11Deep Dive

Another Exchange BitForex Went into Hide, Why Does the Supervision Always Come Late?

After experiencing the running away of several exchanges such as BKEX and JPEX, another exchange BitForex has encountered the situation of unable to withdraw funds and unable to open the website.　　On February 23rd, Hong Kong-based crypto exchange BitForex suddenly suspended withdrawals, after previously delaying users withdrawals on the grounds of wallet and website maintenance. At the same time, ZachXBT, a blockchain detective, detected that approximately $56.5 million in cryptocurrency had been withdrawn from three BitForex hot wallets before the exchange stopped processing transactions.　　On February 26th, the exchanges website was also officially shut down. Users were unable to log into their accounts and could not load the webpage, and began to seek help on social media. However, BitForexs X platform account has not been updated since February 21st, and on its official Telegram channel, multiple users have posted messages saying that their accounts cannot be entered and the dashboard does not display any assets.The Supervision Always Come Late　　On March 4th, after suspending withdrawals for more than a week, the Securities and Futures Commission of Hong Kong (SFC) issued a public warning to the public to beware of a virtual asset trading platform claiming to operate under the name BitForex, which was

2024-03-08Deep Dive

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