After two years of development, Litecoin (LTC) has finally launched its highly anticipated Mimblewimble upgrade, opening the door to more privacy-oriented transactions on the network. Mimblewimble’s integration into Litecoin came by way of the Mimblewimble Extension Block, also known as MWEB, which allows the network’s users to opt-in to confidential transactions. MWEB lead developer David Burkett, who has been sponsored by the Litecoin Foundation, said the upgrade improves Litecoin’s viability as a fungible currency that can be used for everyday transactions, pay employee salaries and even purchase real estate. Mimblewimble is a privacy-focused decentralized protocol that derives its name from …

Although the modern internet connects us like never before, one thing that younger generations have never truly experienced is the feeling of genuine privacy. Even older generations have forgotten what life was like before our every thought and action were tracked. Web3 envisions an open, trustless, permissionless internet where users can interact with each other peer-to-peer without giving up ownership control, privacy or relying on intermediaries. Underlying that vision, blockchains are one of the most important tools. They eliminate the need for trusted third parties and help to create a direct relationship between users and service providers, recording the rules …

Since 2019, Swiss financial crypto intermediaries have required proof of ownership of an external wallet's address for Bitcoin withdrawals and deposits to their customers' non-custodial wallets. One automated mechanism used for this is the Address Ownership Proof Protocol, or AOPP. The Trezor hardware wallet introduced AOPP singing as part of its latest January update last week, allowing users to generate signatures that conform to the AOPP standard used in certain jurisdictions. Today, Trezor announced that it will remove this protocol in the next Trezor Suite update "after careful consideration of recent feedback." Recent feedback refers to Reddit and Twitter users …

Both OpenSea and Metamask have logged cases of IP address leaks associated with transferring NFTs, according to researchers at Convex Labs and OMNIA protocol. Nick Bax, head of research at NFT organization Convex Labs tested out how NFT marketplaces like OpenSea allow vendors or attackers to harvest IP addresses. He created a listing for a Simpsons and South Park crossover image, entitling it “I just right click + saved your IP address” to prove that when the NFT listing is viewed, it loads custom code that logs the viewer's IP address and shares it with the vendor. This NFT logs …

Jerry Brito, the executive director of non-profit crypto policy advocate group Coin Center, suggested U.S. residents call their elected officials over possible privacy and due process concerns in a new bill proposed by House leaders. According to a Wednesday Twitter thread from Brito, the America COMPETES Act recently released by House members contains a provision that he said would be “disastrous” for crypto users from both a privacy and due process standpoint. According to the Coin Center director, a section of the bill on the “prohibitions or conditions on certain transmittals of funds” proposed by Representative Jim Himes would give …

The new private messaging app called ‘xx messenger’ has been developed by renowned cryptographer David Chaum and it claims to be quantum-resistant. The messenger claims to be quantum-resistant, making it able to shield message content from all currently known decryption efforts. This would protect sender, receiver, and their location data from being intercepted or tracked by unwelcome interlopers. The app is now available on both the Apple and Android app stores. Quantum resistance refers to cryptographically securing data from even the most elaborate conceivable code-cracking systems. Quantum computers could potentially be used to decipher encrypted messages on other messenger apps, …

Secret Network is offering $400 million in funding to grow its privacy-oriented ecosystem and expand user adoption. Secret Network is a decentralized ecosystem that utilizes trusted execution environments to enable private, secure computation over encrypted data. The ecosystem has four components: Secret Tokens, Secret Bridges, Secret Finance and Secret NFTs. According to a Jan. 19 announcement, the privacy-oriented platform is offering a $225 million ecosystem fund and a $175 million accelerator fund with support from 25 existing investors and partners, including BlockTower Capital, Arrington Capital, Fenbushi Capital, Outlier, Spartan Group, and Figment. The Founder of Secret Foundation Tor Bair told …

Privacy coins and zero-knowledge technology, which some use to obfuscate the identity of sends/receivers and transaction amounts, have gained enormous popularity in recent years due to mounting regulatory surveillance against the crypto sector. But despite their rapid rise in market cap, critics continue to scrutinize such class of assets as enablers for masking illicit activities. In an exclusive interview with Cointelegraph, Oliver Gale, CEO, and co-founder of the Panther Protocol (ZKP), elaborated on the technology behind its privacy decentralized finance, or DeFi, solutions and why it's necessary for today's crypto space: CT: How much did you raise from your recent …

The wider cryptocurrency market is facing another day of volatility and selling on Jan. 7 as Bitcoin (BTC) bears managed to break bull support at $42,000. The price of Bitcoin was pushed to a daily low of $40,620 before resources were exhausted. Data from Cointelegraph Markets Pro shows that 4 of the top 7 gainers of the day are part of the growing Cosmos Hub. This ecosystem currently uses the Interblockchain Communication protocol (IBC) to facilitate interoperability and communication between connected networks. Here’s a look at what’s behind the strength seen in IRISnet (IRIS), Secret (SCRT), Akash Network (AKT) and …

High transaction costs have been a thorn in the side of the top blockchain protocols for years as both Bitcoin (BTC) and Ethereum (ETH) have seen the average cost of conducting token transfers skyrocket during times of network congestion and high demand. One layer-one (L1) protocol that has been gaining traction in recent months that seeks to offer a low-cost solution to high fees is the Oasis Network (ROSE), a privacy-focused L1 blockchain built using the Cosmos SDK and designed for open finance and a responsible data economy. Data from Cointelegraph Markets Pro and TradingView shows that since hitting a …

On Thursday, ConsenSys, a prominent developer of Ethereum (ETH) software, announced the launch of enterprise software ConsSys Rollups. The service, designed on the basis of zero-knowledge (ZK) proofs, is meant to protect specific transaction elements, such as account balances, sender and recipient wallet addresses, and transaction amounts to secure each user's privacy. Zero-knowledge proofs enable the validation of sensitive encrypted information, such as personal data, by nodes without revealing the data underneath. Such cryptographic techniques have gained enormous popularity in recent years, as users fear their crypto transactions are at-risk of being tracked by blockchain forensic firms such as a …

Ethereum scaling solution Polygon has announced it will dedicate a maximum of 250 million MATIC tokens ($627.5 million) to a deal with zero-knowledge cryptography startup Mir. Zero-knowledge algorithms enable external validators to verify encrypted transactions or documents without revealing the sensitive information hidden underneath. It is useful for complex decentralized finance applications, such as decentralized ride-share apps or decentralized health insurance, where nodes need to verify the personal data of blockchain participants without risking privacy leaks. Mir specializes in developing two subcategories of zero-knowledge proofs: PLONK and Halo. Both represent advancements over previous SNARK and STARK cryptography techniques, allowing proofs …