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Showing posts with the label state

Texas votes to add crypto into state’s bill of rights

Texas lawmakers vote to add digital currency to the state's Bill of Rights, granting individuals the right to use digital currencies like Bitcoin for trading. Texas legislators have voted by a large margin to amend the state 's Bill of Rights and add a provision recognizing the right of individuals to possess, retain and utilize digital currencies. The decision was made on Wednesday, May 10. Bill HJR 146, introduced by State Representative Giovani Capriglione, declares that individuals have the right to use a medium of exchange that is mutually agreed upon, which includes digital currencies, cash, coin, bullion, or scrip, for trading and contracting goods and services, and that this right cannot be violated. The document received up to 139 votes in favor and only two against, and it includes a statement that "no government shall prohibit or hinder the ownership or holding of any form or quantity of money or other currency." The Texas Bill of Rights safeguards essent...

Zero-knowledge proofs coming to Bitcoin, overhauling network state validation

Zero-knowledge proofs have powered the development of Ethereum layer 2s — and now they’re coming to Bitcoin. Bitcoin (BTC) users will soon be able to make use of zero-knowledge proofs (ZKPs) to expedite the process of verifying individual blocks and, eventually, the entire blockchain.  Swiss-based nonprofit ZeroSync Association is developing tooling which allows users to validate the state of the Bitcoin network without having to download the blockchain or trust a third party for verification. ZeroSync Association is an organization that was formed to develop and maintain open-source software that enables succinct zero-knowledge proofs (ZKPs) on the Bitcoin blockchain. The group makes use of StarkWare’s proprietary zero-knowledge Scalable Transparent Argument of Knowledge (zk-STARK) validity proofs to generate ZKPs for the Bitcoin network. The tool promises to overhaul the process of verifying the Bitcoin blockchain, which still requires node operators to download a large amount of d...