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BTC $65,985.03 -1.30%
ETH $1,921.39 -0.82%
BNB $606.60 +0.62%
XRP $1.37 -0.16%
SOL $78.29 -1.74%
TRX $0.2764 +0.23%
DOGE $0.0917 +1.41%
ADA $0.2606 +1.77%
BCH $498.91 -3.46%
LINK $8.27 -0.14%
HYPE $29.83 +0.76%
AAVE $106.69 +0.40%
SUI $0.9081 +1.72%
XLM $0.1575 +2.95%
ZEC $231.18 -1.81%

solutions

a16z Crypto: The security focus of public chains like BTC and ETH should be on protocols and governance, without blindly switching to quantum-resistant solutions

a16z Crypto published a long article on platform X stating that the timeline for the emergence of quantum computers capable of breaking cryptocurrencies (CRQC) is often exaggerated, and the likelihood of their appearance before 2030 is extremely low. The risk status of different cryptographic primitives varies.Post-quantum encryption needs to be deployed immediately due to the "harvest now, decrypt later" (HNDL) attack. In contrast, post-quantum signatures and zkSNARKs are less susceptible to HNDL attacks; migrating too early could bring risks such as performance overhead, immature implementation, and code vulnerabilities. Therefore, a cautious rather than hasty migration strategy should be adopted.For blockchains, most non-privacy public chains like Bitcoin and Ethereum primarily use digital signatures for transaction authorization, so there is no HNDL risk. The pressure to migrate mainly comes from non-technical challenges such as slow governance, social coordination, and technical logistics.Bitcoin faces unique issues, including its slow governance speed and the existence of millions of quantum-vulnerable tokens worth hundreds of billions of dollars that may be abandoned. In contrast, privacy chains, due to their encryption or concealment of transaction details, do face HNDL attack risks and should transition as soon as possible.a16z Crypto emphasizes that in the coming years, implementation security issues such as code vulnerabilities, side-channel attacks, and fault injection attacks are more urgent and significant security risks compared to the distant threat of quantum computers. Developers should prioritize investment in code audits, fuzz testing, and formal verification.

Visa announced the launch of a stablecoin consulting service, offering stablecoin strategies and implementation solutions

According to Fortune, Visa has announced the launch of a "stablecoin consulting service" aimed at providing fintech companies, banks, and other businesses with strategies and implementation plans for stablecoins."Helping clients grow is, frankly, the reason we exist in the stablecoin space," said Carl Rutstein, Global Head of Visa's Consulting and Analytics business, in an interview with Fortune. "Visa's initiatives in this area are just a new piece of the puzzle in the landscape of client demand."Stablecoins are cryptocurrencies that maintain a stable value by being pegged to reserve assets, typically fiat currencies like the US dollar. Since former President Trump signed the "Genius Act" in July of this year—legislation that establishes rules for issuing digital assets—many companies in the traditional financial sector have recently embraced stablecoins. In the following months, other payment giants like PayPal and Mastercard have also strengthened their stablecoin capabilities.Rutstein revealed that Visa's stablecoin consulting service already has dozens of clients, including Navy Federal Credit Union, VyStar Credit Union, and a financial institution named Pathward. He stated that the service will assist businesses in developing stablecoin operations from the perspectives of strategic planning, technical operations, and implementation deployment. Their clients' use cases for stablecoins include cross-border transactions (especially remittances aimed at countries with high currency volatility) and business-to-business transactions. Rutstein pointed out that after consulting with Visa, some companies may advance their stablecoin plans, while others may determine that there is currently no client demand. The company expects the client base for this service to expand to hundreds.Visa is no stranger to the cryptocurrency space. In 2023, the company piloted the use of USDC for stablecoin settlements and is currently operating over 130 stablecoin-related card issuance projects in more than 40 countries. Visa's annual stablecoin settlement volume has reached approximately $3.5 billion.

JPMorgan Digital Assets Head: The groundbreaking ideas emerging in the Solana ecosystem will ultimately evolve into mature solutions suitable for regulated markets

Scott Lucas, Managing Director and Head of Digital Asset Markets at J.P. Morgan, stated at the Solana Breakpoint conference: "I believe this community is full of amazing innovations, and people are eager to explore. When you combine these two, you start to understand where business opportunities come from and how they relate back to the core proposition of economic growth, which is part of a grand narrative. Therefore, I think the key is to truly engage, integrating that originality and innovation into the exploration of opportunities. Not all innovations are perfectly suited for regulated markets, and that's normal. Some are aimed at retail users, while others focus on different markets, but there are certainly key elements that are highly valuable for our understanding and worth deep engagement and learning. Even if certain things temporarily fall outside our business scope, it is still crucial to draw from these sparks of ideas and push discussions forward—because that is how markets evolve. Those more innovative and adventurous concepts emerging within the Solana ecosystem often ultimately crystallize into mature solutions suitable for regulated markets, which is a very ideal development path. Innovation stems from such collisions of ideas and comprehensive debates. Being immersed in it, genuinely listening to the pulse of the industry, and absorbing its essence—this in itself is a highly valuable journey."
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