Dunamu Pushes for Biodiversity Conservation Through NFT Project

Sui Token Debuts on Korea’s Top Five Crypto ExchangesThe native token of Sui, a layer 1 blockchain platform, has debuted on South Korea’s five leading cryptocurrency exchanges — Upbit, Bithumb, Coinone, Korbit, and Gopax. This marks the first time a token has been listed simultaneously on all five exchanges, according to Korean news agency Newsis.Photo by Sigmund on UnsplashAptos’ successThe decision by these exchanges to list Sui may have been influenced by the success of the APT token, which belongs to Aptos, another scalable layer 1 blockchain platform also developed by former Meta employees. APT was listed on Binance two days after the launch of the Aptos’ mainnet on October 17 last year, and its price skyrocketed to $100 on the first day, a hundred times its listing price. Within a week, the trading volume of APT reached $1.3 billion.Sui’s mainnet launchWith the launch of its mainnet on May 3, Sui is garnering significant interest in the crypto sphere. An official from a notable Korean venture capital firm told Newsis that Sui and Aptos, both developed with the Move programming language, involve many top-tier investors and are highly anticipated by ecosystem participants.

Coti plans transition to Ethereum layer-2 network in 2024Israeli blockchain developer Coti plans to introduce a scalable, privacy-focused Ethereum layer-2 protocol in 2024. This strategic move aims to extend Coti’s privacy-centric features to a wider audience within the Ethereum ecosystem.Photo by Zoltan Tasi on UnsplashIncorporating ‘garbled circuits’Taking to the X social media platform on Wednesday, Coti unveiled its plan to transition from a standalone protocol to an Ethereum layer-2. The centerpiece of the project, which Coti has termed “Coti v2: a privacy-centric Ethereum L2,” is a cryptographic method known as “garbled circuits.”Garbled circuits are a cryptographic primitive that enables two or more parties to evaluate an arbitrary Boolean circuit securely, without revealing any information beyond the output, all while using a constant number of communication rounds. This innovative approach enables the processing of transactions without exposing sensitive information and data, aligning with the platform’s commitment to privacy.Having originated in the 1980s, garbling protocols have evolved into a crucial element of privacy-preserving technologies, excelling in scenarios where confidential data needs to be part of a computation without revealing the information itself.Focusing on privacyCoti CEO Shahaf Bar-Geffen emphasized the significance of this privacy-oriented protocol, stating:“Sensitive data transmitted as public information on a blockchain is a bug, not a feature.”Bar-Geffen highlighted the protocol’s ability to prevent sensitive data from being exposed to competitors, partners and clients engaged in transactions on Coti’s chain. The CEO elaborated on how garbling protocols differentiate Coti v2 by facilitating transactions and smart contract executions where details remain private between involved parties.The Coti CEO emphasized the critical role of such privacy features in decentralized finance applications, where transaction confidentiality is as essential as transaction integrity. Coti claims that other platforms focusing solely on anonymity for privacy may face regulatory challenges and might not provide a compliant foundation for the broader ecosystem.Targeting specific use casesCoti envisions its protocol catering specifically to use cases demanding advanced privacy provisions in finance and healthcare. Currently designed for enterprises, Coti’s existing protocol enables the management of blockchain-based products such as custom-branded tokens, wallets, website integrations and fiat on-and-off ramps.In a blog post on Medium, the blockchain startup outlined that in addition to privacy, v2 will enable smart contracts, EVM compatibility and Solidity programming, alongside the features currently offered by v1. Notwithstanding these new features on the v2 product, the company confirmed to The Block that in respect of Coti’s original Cardano-based product, “Coti’s work with Cardano continues. We have a project built there called Djed, and that will continue to remain on Cardano.” Djed is an ADA-backed stablecoin pegged to the U.S. dollar.The anticipated release of Coti v2’s developer net in the second quarter of 2024 signals a move towards realizing the potential in advancing Ethereum’s privacy standards. As a layer-1 protocol, Coti presently contributes to Web3 applications by providing digital infrastructure, including tools for wallets, tokens and payment modules, with a total value locked of $31 million.The upcoming integration as a privacy-centric layer-2 positions Coti as a key player in enhancing Ethereum’s capabilities and fostering a more secure and confidential blockchain experience.

Cryptotax secures pre-series A funding from HashedCryptotax, a South Korean cryptocurrency tax and accounting platform run by accounting firm Xxsoft, has secured an investment from Asian blockchain investment firm Hashed during its pre-series A funding round. This comes just 16 months after the company secured seed funding.Photo by Markus Winkler on UnsplashEmpowering financial clarityCryptotax is a platform that offers comprehensive virtual asset tax accounting services that allow both individual and corporate clients to monitor their virtual assets, view receipts of their transactions and calculate and report their virtual asset tax records. To do so, it collects and analyzes transaction history and asset details from crypto exchange accounts and digital wallets that users can register on their Cryptotax accounts.Individual investors can also monitor their assets and view their net profits, as well as receive a preview of the amount of tax they would actually have to pay later on based on those profits.On the other hand, corporate clients that issue or own virtual assets can get access to special services through Cryptotax’s solution as a service (Saas) dubbed Cryptotax Enterprise. By using this service, businesses, investment management firms and virtual asset issuers can benefit from automated tax processing and directly receive accounting documents.Harnessing technological prowess“We have been working hard to prove our technological and competitive capabilities through the establishment of the Cryptotax platform,” said Yoon Dong-hwan, CEO of Xxsoft, reaffirming the company’s efforts to rapidly expand the comprehensive platform and establish collaborative relationships.