X1 is a groundbreaking Zero Knowledge layer-2 network for Ethereum scaling built with Polygon Chain Development Kit (CDK). Cardano founder Charles Hoskinson shows interest in partnering with Kraken for their layer-2 blockchain. Vitalik Buterin called the early Ethereum scaling solution Plasma “underrated” and a “significant security upgrade” for chains that would otherwise be validiums. Plasma, a once-prominent Ethereum layer-2 scaling solution, should be revisited by teams currently working on zero-knowledge (ZK) Ethereum Virtual Machines (EVMs), said Ethereum co-founder Vitalik Buterin. Invented in 2017, Plasma diverts data and computation — except deposits, withdrawals and Merkle roots — to an off-chain environment. It was superseded by optimistic and ZK-rollups as the two solutions offered cheaper client-side data storage costs and security properties that “cannot be matched,” Buterin explained in a Nov. 14 X (Twitter) post. Buterin said rollups remain the “gold standard,” but Plasma is an “underrated design space” that shouldn’t be forgotten. “Plasma can be a significant security upgrade for chains that would otherwise be validiums,” Buterin added. Like Plasma, validiums move data and computation off-chain but implement ZK-proofs to validate transactions. Plasma, on the other hand, uses fraud proofs, which are much slower. Buterin argued improvements in ZK-proofs, such as validity proofs, address the past limitations of Plasma, making it more viable as a scaling solution. Adapting Plasma for applications beyond payments has also proven to be an Achilles heel for Plasma before ZK-proofs entered the mainstream, Buterin acknowledged. Bitcoin wallets made before 2016 could be facing new attack risks due to a recently discovered software flaw, according to a new report from cryptocurrency startup Unciphered. Unciphered on Tuesday said the flaw, dubbed "Randstorm," includes a collection of bugs, design choices and API (Application Programming Interface) changes that increased the vulnerability of the old wallets. Traders who bought a GROK meme coin trying to capitalize on Elon Musk's AI chatbot are angry a crypto sleuth flagged it as a likely scam. You can find these stories and more at the link below:
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