Bitcoin News and Finance QED: A Zk-Native Blockchain Capable of Serving Millions of Concurrent Users Skip to main content

QED: A Zk-Native Blockchain Capable of Serving Millions of Concurrent Users

PRESS RELEASE. July 17th, 2023, Hong Kong. Startup Open Asset Standards has recently announced QED, the world’s first ZK 2.0 blockchain protocol. Unlike existing zero knowledge blockchain protocols, QED has a novel state model which is horizontally scalable, meaning it is no longer limited by TPS restrictions that have previously prevented adoption of blockchain technologies in Web2 use cases such as social networks, traditional finance, and gaming.

Enabled by advances in fast recursive zero knowledge proofs, QED is able to achieve this scale without compromising security or decentralization and proves all transactions end-to-end using proof recursion (verifying a zero knowledge proof in a zero knowledge proof ). This process of decentralized recursive proving culminates in a single block proof which can be verified by an Ethereum smart contract, making the protocol only reliant on the Proof of Math itself, rather than an incentive based consensus system vulnerable to collusion, hacking and misaligned incentives.

As the first blockchain capable of serving billions of users in a single block, QED does away with the need for a zk-VM by compiling smart contract functions directly to zero knowledge circuits, making it the first zk-Native blockchain. QED’s novel approach to ZKP allows users to prove their own transactions on their own device in milliseconds, enabling a new privacy centric internet where transactions are private by default and sensitive data never has to leave a user’s device.

With its announcement of the QED Protocol, Open Asset Standards unveiled QED’s official Dapen Smart Contract IDE. With Dapen, Web2 developers can write zk Smart Contracts in the world’s 2 most popular programming languages, JavaScript and Python, which have a developer market share 357 times larger than the Solidity community which only makes up a miniscule 0.1% of the world’s developers.

In addition to making blockchain accessible to more developers than ever before, Dapen has integrated support for Markdown smart contracts which allow even non-technical users to write smart contracts in English using their integration with several large language AI models (LLMs) including ChatGPT.

Backed by Animoca Brands’ fund Sparkle Ventures whose General Partners include Sebastien Borget, Co-founder of Sandbox, and Yat Siu, Co-founder of Animoca Brands, QED is set to see major adoption within the gaming space which regularly support millions of concurrent gamers playing at once. Due to its horizontal scaling model, QED is able to add transaction processing capacity by simply adding more proving nodes to its network, allowing large scale gaming to integrate with blockchain technologies such as dynamic NFTs for the first time.

Headed up by Founder and CEO Carter Feldman, a former childhood hacking prodigy and reverse engineer, the QED core team is made up of a diverse team from both Web2 tech giants and Web3 titans including Binance, reflecting the protocol’s mission to unite Web2 and Web3.

Contact Information

Website: www.qedprotocol.com

Twitter:

  • Official: @qedprotocol
  • Founder: @cmpeq

Email: news@qedprotocol.com

 

 

 


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Comments

Popular posts from this blog

Custodial Lightning Network Service Attack Discovered by LN ‘Newbie’ — Hacker Strikes 6 LN Custodians

On September 18, a Redditor posted to the r/bitcoin forum and explained how he discovered a way to “attack [the] lightning Network’s custodial services.” The Reddit account dubbed “Reckless Satoshi” wanted to figure out if a “discrepancy between real routing fees and service’s transaction fee can be exploited for a profit.” The researcher disclosed that he wanted to see how large the damage could be and said “it is bad.” 6 Lightning Network Custodial Services Attacked, Researcher Discloses Findings to Offenders Prior to Public Disclosure A Redditor called Reckless Satoshi published a disclosure post on r/bitcoin this past Saturday and disclosed how he had found a vulnerability with routing fees and some of the Lightning Network’s custodial services. The research attack was done in good faith and after it was complete he disclosed the bugs to the offending services before publishing his findings. Reckless Satoshi used the Lightning Network (LN) attack on six different services incl...

Axie Infinity Down 40% Since Last Week’s Price High, Protocol Revenue Outshines Competitors

Last week, the game token leveraged within the Axie Infinity gaming universe skyrocketed to all-time highs, while other crypto markets remained extremely lackluster. During the last seven days, Axie Infinity’s platform token has dropped significantly in value shedding more than 12%. Meanwhile, the game platform’s smooth love potion token has slid over 8% over the last 24 hours. Axie Infinity Down More Than 40% Since All-Time High Not too long ago, the axie infinity (AXS) token was a topical conversation because it reached an all-time high on July 15. At the time, AXS managed to capture $28.93 per unit and since then it has shed 12.8% during the last seven days. The axie infinity (AXS) token is used within the blockchain-based game that involves battles between token-based creatures called “Axies.” AXS is used for the game’s governance system as well as other actions within the game. At the time of writing axie infinity (AXS) is exchanging hands for $16.70 per coin. AXS/USD on Ju...

Play-to-Earn Game From Polker (PKR) Exchange Listing – Endorsed by Akon

The Play-to-Earn NFT based Polker.Game ‘s native token $PKR has been officially listed on the popular centralized exchange BitMart. Polker.game has been in the spotlight recently as Akon, the American R&B superstar and record producer gave his official endorsement of polker stating that the “game is revolutionary” and that Polker is “hands down.. the best play to earn, NFT game in the space.”. With the BitMart listing and celebrity endorsement from Akon, Polker is perfectly positioned to become a major player in the Play-to-Earn league. Watch Akon’s Video Here What is Play-to-Earn? Although not a new concept, play-to-earn has become a trending term due to the popularity of the NFT game AXIE infinity. In the past, previous play-to-earn games have also achieved success – however, thanks to the huge amount of development in the blockchain space in recent years the gaming experience is now massively improved. Play-to-Earn games are essentially free to play and open to anyone and...

China to Crack Down on Copyright Infringement Through NFTs

Authorities in China are going after creators of digital collectibles based on other people’s works of art, the use of which was not authorized. The government offensive is part of a campaign to combat online copyright infringement and piracy with the participation of several departments. Regulators in China Move to Strengthen Copyright Supervision of Online Platforms The National Copyright Administration of China (NCAC) has recently launched a campaign against copyright infringement and piracy on the internet, together with the Ministry of Industry and Information Technology, the Ministry of Public Security, and the State Internet Information Office of the People’s Republic. A major objective of the initiative is to improve copyright supervision of online businesses by investigating cases involving the sale and distribution of infringing products on short video, live broadcast and e-commerce platforms, and promptly dealing with infringing content, the agency announced in a press r...
Blogarama - Blog Directory