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Polygon Labs has recently made a major announcement that is set to impact the Ethereum network’s future positively. The protocol has launched Polygon zero-knowledge proof Ethereum Virtual Machine (zkEVM) on mainnet Beta, a permissionless and public network allowing users to transact and build. 
According to the announcement, to further support the protocol’s development, Polygon zkEVM is now completely open-source. With this launch, Polygon is allegedly helping to pave the way for the next chapter of Ethereum’s development and offering developers and users a new tool for building decentralized applications. 

What Are The Benefits Of Polygons’s New zkEVM?
The Polygon zkEVM is a zero-knowledge proof (ZPK) scaling solution developed by the same protocol, designed to enable faster and cheaper transactions on Ethereum’s network. The public testnets for zkEVM have established it as a leader among Ethereum Virtual Machine (EVM) equivalent ZK scaling solutions. 
One of the key benefits of zkEVM is its use of zero-knowledge proofs, which ensures security and reduces gas fees. Another win for users is that zero-knowledge proofs enable transaction verifications without revealing sensitive information, making them highly secure. 
Furthermore, Polygon’s zkEVM is designed to be fully compatible with the EVM, so developers can easily deploy existing Ethereum smart contracts on the network, facilitating developers to migrate their existing applications to zkEVM. 
Additionally, the zkEVM is designed to improve the scalability of Ethereum, allowing faster and more efficient transactions with lower fees for developers and users of the protocol’s new feature. 

Polygon Takes Precautions Against Potential Risks of zkEVM Mainnet Beta Launch
According to the announcement, the protocol refers to the risks of using zkEVM Mainnet Beta. While the launch of the mainnet is a significant development for the protocol, undetected bugs can always disrupt the network’s stability. 
To address these potential risks, Polygon Labs has outlined “stringent” security measures, which will include the establishment of a temporary security council, which will be responsible for overseeing the network’s security and addressing any issues-
The security council will comprise various companies and organizations in the blockchain industry. Moreover, Polygon will implement a bug bounty program, which is intended to incentivize researchers and developers to identify and report any bugs or vulnerabilities that they discover in the Polygon zkEVM Mainnet Beta. 
With the risks and potential vulnerabilities, the established bug bounty program will have rewards of up to $1,000,000 being offered for documenting critical vulnerabilities, according to the protocol. 
Despite the positive development of the new Polygon feature, the protocol’s native token, MATIC, has not responded positively to the announcement. Currently, MATIC is trading at $1.0462, indicating a decline of over 5% in the last 24 hours.
However, the launch of these new developments has been met with positive reception from the cryptocurrency community, which could have a positive impact on MATIC’s price in the long term.


Featured image from Unsplash, chart from TradingView.com 


Polygon Labs has recently made a major announcement that is set to impact the Ethereum network&#8217;s future positively. The protocol has launched Polygon zero-knowledge proof Ethereum Virtual Machine (zkEVM) on mainnet Beta, a permissionless and public network allowing users to transact and bui...

bitcoinist.com

Polygon Launches zkEVM Mainnet Beta, Will It Reduce Costs Of Ethereum Transactions?

Input Output Global (IOG) is a software research and development company that played an imperative role in developing the blockchain platform Cardano. In its recent announcement, the company appointed Eran Barak as the CEO of its latest data-protection protocol, Midnight.
This new protocol is set to offer new features that mainly comprise advanced security features to improve the privacy and protection of users’ data on the Cardano network. This recent move from IOG is targeted to strengthen its position in the blockchain industry by meeting the growing demand for data protection and security concerns.

Eran Barak has had a successful career in the financial services industry, serving in multiple senior roles. Before being named the CEO of IOG’s new data-protection protocol, Midnight, he worked as the Chief Operating Officer at Symphony.
Symphony is a company that specializes in compliance-related financial services workflows. With Barak’s expertise, he is expected to significantly add value to IOG’s efforts to improve protection on Cardano’s network.
What Is The New Cardano Blockchain Project Expected To Do?
Development of the Cardano blockchain project, Midnight, is underway at the moment. The platform is being developed for global-scale applications. It is designed for developers, companies, governments, and individuals to operate securely.
This project’s unique programming model will prioritize data protection that will safeguard sensitive personal and commercial data while keeping compliance in place.
Midnight is a platform that will use zero-knowledge cryptography (ZK Proofs) with a mix of private and public computation to create a trustless environment. The platform is expected to be helpful in many fields, such as finance, supply chain management, and healthcare.
The newly appointed CEO of the business unit developing Midnight, Barak, will lead and expand the project. This blockchain protocol was announced at the end of 2022.
Midnight To Operate As Sidechain Of Cardano
The Cardano blockchain project shall be operating as a sidechain of Cardano. This also means that the project will be able to utilize the blockchain’s security and decentralized features.
The project will benefit from these aspects and help people and organizations transact, publish and share sensitive information efficiently while ensuring safety and security.

Charles Hoskinson, CEO and co-founder at IOG, stated:
Since its founding, IOG has continued to push the boundaries of innovation in the blockchain space. Midnight looks to not only challenge assumptions of what digital identity and personal ownership of data entails, but to give users the tools they need to architect confidential systems….bringing a product like Midnight to market requires someone who understands the heart of the product and the benefits it will bring to a global, digital ecosystem.




Input Output Global (IOG) is a software research and development company that played an imperative role in developing the blockchain platform Cardano. In its recent announcement, the company appointed Eran Barak as the CEO of its latest data-protection protocol, Midnight. This new protocol is set...

Former Symphony COO Joins IOG As CEO Of New Cardano Blockchain Project

The document creates multiple offices tasked with fulfilling various jobs for the protocol, each with their own powers and responsibilities. 

cointelegraph.com

MakerDAO passes new 'constitution' to formalize governance process

The team behind Shiba Inu’s (SHIB) new layer-2 scaling solution says the protocol aims to provide quick and cost-effective transactions.
New public documentation reveals that Shibarium, which launched its beta version earlier this month, plans to acheive “true decentralization” by creating a protocol that charges minimal transaction fees, if not zero.

According Shiba Inu lead developer Shytoshi Kusama, Shibarium will offer low transfer fees for every project built on the layer-2 protocol, noting that the goal is to process transactions in “seconds for less than pennies.”
Touted as the “blockchain of [the] people,” Shibarium plans to become a secure, transparent and scalable blockchain that acts as a base layer for the development of new projects.
 “The blockchain ensures secure and transparent creation and exchange of digital assets. In addition, it serves as a base for the development of decentralized applications (DApps), including Shib – The Metaverse (Shib.io), Shiba Eternity, and various other products, projects, platforms, and services within the broader Shiba Inu community.” 
The public documentation also offers more insight on Shibarium’s burning mechanism. The document says that the burn mechanism will kick in after the protocol accumulates a specific amount of Bone ShibaSwap (BONE), the token that will be used for gas fees on Shibarium.
 “When a user makes a transaction on the network, the base fee is locked on a contract on Shibarium, while the priority fee is paid to the validator. This base fee will be split in 70% burned and 30% set aside to maintain the network. 
Once a certain amount of BONE ($25,000) is accumulated in the burn contract, users can start the burn process from Shibarium.” 
Shiba Inu is trading for $0.000011 at time of writing, a slight dip in the last 24 hours.
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Featured Image: Shutterstock/Alexander Limbach/WindAwake
The post Shiba Inu’s Shibarium Aims To Process Transactions in Seconds for Less Than Pennies: New Public Documentation appeared first on The Daily Hodl.


The team behind Shiba Inu’s (SHIB) new layer-2 scaling solution says the protocol aims to provide quick and cost-effective transactions. New public documentation reveals that Shibarium, which launched its beta version earlier this month, plans to acheive &#8220;true decentralization&#8221; by cre...

dailyhodl.com

Shiba Inu’s Shibarium Aims To Process Transactions in Seconds for Less Than Pennies: New Public Documentation

Optimism-based lending protocol Kokomo Finance appears to have executed an exit scam, stealing roughly $4 million of users’ funds through a smart contract loophole.
Blockchain security firm CertiK flagged the incident on March 26, alerting Crypto Twitter of a price slippage on the project and the disappearance of its social media accounts. Kokoma’s website has also gone offline, with an error page popping up whenever users try to access it.
Kokomo Finance Rug Pulls Users for $4M
CertiK disclosed that the deployer of the KOKO token, address 0x41BE, executed an attack on the smart contract of a wrapped Bitcoin token (cBTC). The attacker then reset the reward speed, halted the borrow function, and turned the implementation contract into a malicious one.
Another address, 0x5a2d, approved the malicious cBTC smart contract to spend the 7010 sonne wrapped BTC (WBTC).
Since the implementation contract was already set to the malicious cBTC contract, the attacker called a command to transfer the sonne WBTC to the address 0x5C8d.
The final transaction saw address 0x5C8d swap the 7010 sonne WBTC to 141 wBTC, gaining approximately $4 million in profit.

#CertiKSkynetAlert 
On 26 March 2023, Kokomo Finance conducted an exit scam and stole ~$4 million in user funds.
Details Below  https://t.co/BEPwfahblz
— CertiK Alert (@CertiKAlert) March 26, 2023

KOKO Dumps Over 95%
Following the rug pull, KOKO, Kokoma’s native token, plunged by more than 95% from $0.020 to $0.00065.
Kokoma Finance recently went live on Optimism and Arbitrum as an open-source and non-custodial lending protocol for users to trade wBTC, Ether (ETH), Tether (USDT), USD Coin (USDC), and DAI.
Barely 24 hours after its launch, the platform had $2 million in total value locked (TVL), mostly in wBTC, according to data from DefiLlama. The exit scam dropped the platform’s TVL to just over $64,000.
Meanwhile, Kokoma Finance is not the only DeFi protocol to rug pull users in recent times. Earlier this month, the developers of Arbitrum-based decentralized exchange ArbiSwap suddenly removed over $130,000 from the project’s liquidity pool, leaving users scratching their heads and counting losses.
The post Optimism DeFi Protocol Kokomo Finance Rug Pulls Users for $4 Million  appeared first on CryptoPotato.

Kokomo's native KOKO token crashed 98% from $0.049 to $0.00065 in the past 24 hours. 

Ocean Protocol price	$0.330718
Low - High 24H	$0.324328 - $0.358282
Market cap	$143.50M
Volume 24H	$19.32M
All time high	$1.93 -82.87% April 10th 2021
All time low	$0.012848 2473.32% August 11th 2019
Genesis date	N/A

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