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Lumino Ceremony Uses A Combination Of Zero-Knowledge Proof And Blockchain To Solve The Limitations Of Privacy And Data Security

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3 years ago

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The loss of Internet data leakage is gradually increasing, and data privacy will be the key development focus of the industry. According to BM Security assessment, the average cost of global data leakage in 2018 was $3.86 million, which was 6.4% higher than that in 2017. In addition to that, the assessment also shows that large-scale data leakage is costly, with millions of records leakage possibly causing $40 million in losses, and 50 million records leakage may cause $350 million in losses. In this context, developing privacy encryption technology has become the focus of industry and market.

Zero-knowledge proof is an advanced privacy protection technology. Zero-knowledge proof is a cryptographic technology proposed by MIT researchers in the 1980s. As the name implies, zero-knowledge proof implies that you are the legal owner of a certain right without leaking relevant information, that is, to give zero information to the outsiders. Therefore, trusted computing uses cryptography such as zero-knowledge proof to complete data calculation while ensuring data privacy. Privacy protection technology based on cryptography provides a trusted environment for data calculation. Whether it is personal information, enterprise business data or unique data resources, there are hidden dangers of data leakage in the process of data exchange, storage and calculation. Cryptographic algorithms represented by zero-knowledge proof provide a solution for data security and privacy.

Zero-Knowledge Proof Provides A New Direction For The

Development Of Blockchain

The development of blockchain can not be distinguished from privacy protection technology, and cryptography is just needed for distribution of books. In a conventional blockchain transaction, when assets are sent from one party to the other, the details of the transaction are visible to each party within the network. On the contrary, in a transaction with zero knowledge proof, others only know that a valid transaction has occurred, but do not know the sender, receiver, asset class and quantity. The identity and amount involved in the transaction can be hidden, and problems such as “jump the gun” can be avoided. Zero-knowledge proof protocol supports the transfer of assets on distributed blockchain network, and has complete privacy.

ZCash is the most prominent zero-knowledge proof in blockchain-based systems, which is also the first cryptocurrency to realize zk-Snarks. Since then, other blockchain systems have also added zero-knowledge proof to verify while protecting user/transaction privacy. Perhaps, the most famous is Ethereum which realized zk-Snarks as part of the Byzantine upgrade.

Lumino Ceremony – The Starting Point Of The Application Of Zero-Knowledge Proof In Blockchain Industry

Zero-knowledge proof can realize flexible data calculation interaction and cross-validation, though it is still difficult to realize. Since it needs repeated examples to prove that the answer is true, which requires highly to hashrate. Currently the efficiency of generating proof is about 7 seconds, which requires a lot of hashrate to improve the computing speed.

At present, the biggest challenge faced by privacy computing lies in how to improve the efficiency of privacy protection and realize large-scale commercial landing. Zero-knowledge proof depends on hardware facilities, and the research and development and production of special computing hardware require huge upfront costs, so this is why the concept of privacy computing has appeared since 2014 but so far there has not been a real project.

In 2021, PlatON, a private computing AI network, announced the official launch of Lumino, a secure multi-party computing ceremony, inviting global community participants to help the development of private computing technology.

Lumino is a large-scale activity that uses secure multi-party computing protocols to generate zero knowledge proof system public reference string (CRS) in a de-trust manner, and it is a prerequisite and an important step for deploying and using privacy-related applications in a decentralized ecosystem.

Lumino means luminous and illuminated in Chinese. In Platon/Alaya’s world, Lumino is a multi-party collaborative computing ceremony that creates the necessary security parameters for one of Platon/Alaya’s cryptographic infrastructures, the Zero-knowledge Proof Protocol.

The emergence of Lumino is a milestone, which means that the formal commercialization and large-scale promotion of zero knowledge are becoming possible.

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Alex Jacob

Alex Jacob is a literature author. He was born in Chicago. Alex passion is writing news articles. He writes number of articles and published it.

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Press Release

UVKXE Releases Anti-Scam Guide, Enhancing User Security Protections

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1 day ago

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November 23, 2024

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DENVER — Recently, the globally renowned cryptocurrency trading platform UVKXE has published its latest anti-scam guide to address the escalating threats of online scams, establishing a comprehensive protective barrier for users worldwide. The guide focuses on various scamming tactics prevalent in the cryptocurrency sector, highlighting what users should be aware of during transactions and asset management, while also providing effective preventive measures.

Kevin Anderson, CEO of UVKXE, noted: “As the cryptocurrency market continues to expand, more cybercriminals are turning their attention to cryptocurrency users, developing sophisticated scam techniques. As a well-known platform in the cryptocurrency trading field, UVKXE has a responsibility to help users identify and mitigate these potential risks. Through the release of this anti-scam guide, we aim to further enhance user awareness and safeguard their digital asset security.”

The guide outlines the common characteristics of these scams, such as phishing emails that typically use UVKXE or similar official-sounding names, along with forged logos and links, to deceive users into providing their login credentials and sensitive information. It also advises users to always choose official channels when downloading applications to avoid malicious software. Furthermore, UVKXE emphasizes that the platform will never proactively request users to provide sensitive information such as passwords or verification codes in any form.

In addition to the anti-scam guide, UVKXE will launch a series of interactive activities, utilizing community forums and video tutorials to educate users about safety knowledge and help them recognize and respond to potential threats. The UVKXE security team stated that these activities will not only provide real-time updates on scams but also offer users opportunities for direct communication and inquiries.

The investment in technology and education is reflected not only in the publication of the anti-scam guide but also in daily operations and maintenance. Kevin Anderson concluded: “Every protective measure and security technology implemented by UVKXE is designed to ensure the safety of user assets. In the future, we will continue to advance this mission, providing users with safer and more convenient cryptocurrency trading services.”

Media Contact:
Company Name: UVKXE CRYPTO TECH CO.,LTD.
Company website: https://www.uvkxe.co
Contact person’s full name: Mayang
Email id: mayang@uvkxe.co

Disclaimer: This content is provided by sponsor. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

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Press Release

UVKXE Clarification Statement: A Legally Compliant Trading Platform with International Accreditation

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1 day ago

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November 23, 2024

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DENVER — Recently, the Securities Commission Malaysia (SC) published a list on its official website of cryptocurrency trading platforms that have not met its local registration requirements, mentioning UVKXE. UVKXE takes this matter seriously and wishes to clarify its credentials and compliance status to its users.

Global Compliance Credentials of UVKXE

UVKXE is committed to operating under legal and compliant principles, upholding a user-first core value. The platform has obtained several certifications from international authoritative regulatory bodies, including but not limited to:

U.S. MSB License
UVKXE has obtained the MSB license issued by the U.S. FinCEN. This certification represents the highest recognition by the U.S. government for financial service institutions, ensuring that UVKXE can legally conduct cryptocurrency-related business.

U.S. SEC License
As one of the few cryptocurrency trading platforms registered with the U.S. Securities and Exchange Commission (SEC), UVKXE complies with securities and investment-related legal regulations, providing users with a safer and more transparent investment environment.

Background on the Malaysian Public List

The list published by the Securities Commission Malaysia mainly targets trading platforms that have not met local registration requirements, such as Binance and Bursa Malaysia, rather than denying the platform legality. UVKXE has obtained multiple authoritative licenses internationally, and its compliance is beyond doubt. UVKXE is in communication with relevant departments to understand local specific regulations and to advance the registration process, ensuring compliance with local market requirements.

Commitment to Legal Compliance and User-Centric Values

UVKXE will use this event as an opportunity to further enhance its global compliance framework, actively adapting to regulatory environments in various countries, and providing users with more professional and diversified financial services. We sincerely thank all users for their trust and support! UVKXE promises that no matter where it operates, the platform will always adhere to the core philosophy of “user-first”, moving together with global users towards a safer, more open, and transparent new era of the digital economy.

Media Contact:
Company Name: UVKXE CRYPTO TECH CO.,LTD.
Company website: https://www.uvkxe.co
Contact person’s full name: Mayang
Email id: mayang@uvkxe.co

Disclaimer: This content is provided by sponsor. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

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Press Release

UVKXE Strengthens Security Strategy, Leading Innovations in Anti-Scam Technology for Crypto Platforms

Published

1 day ago

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November 23, 2024

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DENVER — Recently, the globally recognized cryptocurrency trading platform UVKXE officially announced the completion of its latest security system upgrade. This upgrade significantly enhances the cybersecurity defenses of the platform and introduces cutting-edge anti-scam technologies. Through this technological update, UVKXE demonstrates its commitment to user asset security and proactive measures against potential future cyber threats.

Kevin Anderson, CEO of UVKXE, stated: “User trust is the foundation of UVKXE, and ensuring the security of user assets is always our top priority. This security system upgrade incorporates AI deep learning, real-time risk control, and efficient anomaly detection algorithms, aiming to create a safe and trustworthy trading environment for users. We will continue to optimize the security measures for user assets, ensuring that every user can trade confidently on UVKXE.”

The focus of this security system upgrade is primarily on anti-scam technologies. In response to the ever-evolving online threats and scam tactics in recent years, UVKXE has strengthened its multi-layered protective mechanisms, effectively enhancing the security and responsiveness of the system. The upgrade introduces AI-driven anti-scam technology, which intelligently analyzes user behavior through deep learning algorithms, allowing for rapid identification and isolation of suspected scamming activities. The AI anti-scam system can monitor and analyze large volumes of trading data in real time, immediately freezing any suspicious transactions or account activities to safeguard user assets.

Kevin Anderson further explained: “Traditional anti-scam methods often rely on post-event analysis, whereas the new system of UVKXE can identify risks promptly before incidents occur, taking immediate action to prevent losses.”

In terms of anomaly detection, the system of UVKXE combines the transaction histories, asset conditions, login locations, and other multidimensional data of users to accurately pinpoint potential security vulnerabilities. Through anomaly detection technology, each user login and transaction can be monitored in real time, with timely alerts prompting users to confirm actions, further enhancing the security of the platform.

Kevin Anderson concluded: “We hope every user can enjoy a secure trading experience on UVKXE. By continually optimizing our security strategies, we aim to provide a safer and more convenient cryptocurrency trading experience for our users.”

Media Contact:
Company Name: UVKXE CRYPTO TECH CO.,LTD.
Company website: https://www.uvkxe.co
Contact person’s full name: Mayang
Email id: mayang@uvkxe.co

Disclaimer: This content is provided by sponsor. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.

About Author

Cloud PR Wire

See author's posts

Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Digi Observer journalist was involved in the writing and production of this article.

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