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PRESS RELEASE

Published April 24, 2023

The Automotive Blockchain Market is expected to value $429.51 million in 2020 and is projected to reach $ 5.63 billion by 2030, registering a CAGR of 29.7%.

By switching from a centralized to a decentralized system, blockchain technology, which is still a relatively new technology, has the potential to totally transform the automotive sector. With the introduction of blockchain to the sector, third-party middlemen, whose services are currently necessary in the automotive business, wont be needed. The operations of the automobile industry, including design, production, distribution, marketing, sales, finance, and service of vehicles, will become more flexible thanks to blockchain technology and will also significantly aid in the expansion of the sector.

Increases in e-mobility and on-demand services, the popularity of car/ride sharing among young urban customers, rising auto sales globally, lower operating costs, and the need for quicker transactions are the driving forces behind the expansion of this sector. Opportunities for the market include the growing use of blockchain in logistics and transportation, the creation of new business models for the automotive aftermarket, and the growing optimization of car recalls in the US. The integration of blockchain interfaces with current systems for applications like peer-to-peer trading, creating smart contracts, and other prospective blockchain applications in the automotive industry is a hurdle for international blockchain operators.

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Both primary and secondary research methods have been used to evaluate the future of the blockchain in the automotive industry. The precise worth of the Blockchain in Automotive Market is validated by this reports in-depth qualitative and quantitative assessments. Primary interviews, surveys, and vendor briefings are all a part of the qualitative study. The following paper discusses their revenues and provides an estimate for the size of the blockchain in the automotive market from 2022 to 2030 based on secondary research. The main sources are then used to validate and verify the data.

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Market Segmentation:

Automotive Blockchain Market, By Application

Automotive Blockchain Market, By Provider

Automotive Blockchain Market, By Mobility

Automotive Blockchain Market, By Region

North America

Europe

Asia-Pacific

Lamea

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Key Benefits of the Report:

Table of Contents: Automotive Blockchain Market

Chapter 1: Overview of Automotive Blockchain Market

Chapter 2: Market Driving Factor Analysis

Chapter 3: Global Market Status and Forecast by Regions

Chapter 4: Global Market Status and Forecast by Types

Chapter 5: Market Competition Status by Major Manufacturers

Chapter 6: Major Manufacturers Introduction and their Market Data

Chapter 7: Upstream and Downstream Analysis

Chapter 8: SWOT Analysis, PESTEL Analysis, PORTE 5 Forces.

Chapter 9: Cost and Gross Margin Analysis

Chapter 10: Sales Channels, Distributors, Traders, and Dealers

Chapter 11: Marketing Status Analysis

Chapter 12: Market Report Conclusion

Chapter 13: Automotive Blockchain Market Research Methodology and Reference

Chapter 14: Appendix

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Automotive Blockchain Market is expected to represent Significant ... - Digital Journal

In the ever-evolving world of cryptocurrencies and blockchain technology, one of the most significant challenges faced by popular networks like Ethereum is scalability. As the number of decentralized applications (DApps) and users grow exponentially, so does the demand for fast, secure, and cost-effective transaction processing.

To address these challenges, layer-two (L2) scaling solutions have emerged as a vital innovation to enhance Ethereums transaction throughput without compromising its security. Among these L2 solutions, zkSync stands out as a revolutionary zero-knowledge rollup technology that promises to propel the Ethereum ecosystem to new heights.

In this comprehensive guide, we will delve into the intricacies of the zkSync ecosystem, exploring its technology, comparisons with other L2 solutions, development milestones, tokenomics, and the growing list of DApps and services that have chosen zkSync as their foundation. By the end of this article, you will gain a deep understanding of zkSync and its role in shaping the future of the Ethereum ecosystem.

Delving into zkSyncs technology, its essential to understand zk-rollups and zero-knowledge proofs, the cornerstones of this innovative solution. zk-rollups, a form of layer-two scaling, bundle multiple transactions off the Ethereum mainnet into a single proof, which is then submitted back to Ethereum for verification and security purposes. The result is a significant increase in transaction throughput while maintaining Ethereums security guarantees.

A crucial aspect of zk-rollups is the utilization of zero-knowledge proofs. These cryptographic systems enable the validation of a transactions authenticity without disclosing the underlying data. In simpler terms, zero-knowledge proofs operate on a trust me on this basis, allowing for scalable and private transactions on Ethereum. Despite sounding counterintuitive at first, this technology is widely regarded as one of the most promising approaches to address blockchain scaling and privacy concerns.

By employing zk-rollups and zero-knowledge proofs, zkSync dramatically reduces gas fees on its L2 blockchain, which can be up to 100 times lower than those on Ethereum. Additionally, the forthcoming zkSync 2.0 upgrade is poised to deliver a throughput of over 100,000 transactions per second (TPS) once ETH2 data sharding becomes available, further enhancing its potential for scalability. With the integration of zkPorter, a protocol that merges zk-rollups and sharding, zkSync 2.0 will also support arbitrary smart contract capabilities through Solidity and its native programming language, Zinc.

Matter Labs, the driving force behind zkSync, is a team of experts in zero-knowledge proofs and cryptography. Since its inception in 2019, the company has been dedicated to creating a secure, scalable, and user-friendly Layer 2 scaling solution for Ethereum.

The first significant milestone for zkSync was the launch of zkSync 1.0 in June 2020. This version introduced a fundamental layer of scalability by reducing transaction costs and increasing throughput. With the introduction of zkSync 1.x, the platform began supporting ERC-20 token transfers, expanding its use cases beyond Ether (ETH) transactions.

In early 2022, zkSync 2.0 was released, marking a pivotal moment in the development of the platform. This upgrade introduced support for smart contracts and EVM compatibility, making it possible for developers to build and deploy DeFi applications within the zkSync ecosystem.

The zkSync roadmap is ambitious, with a vision to further enhance the platforms capabilities. One of the significant planned updates is the integration with Ethereum 2.0s data sharding. This update will allow zkSync to leverage the increased data availability and scalability provided by Ethereums next-generation blockchain, further cementing its role as a prominent Layer 2 scaling solution.

Another exciting aspect of zkSyncs future is the potential expansion of its ecosystem, with more DeFi applications, NFT marketplaces, and cross-chain bridges being developed and integrated. As the platform continues to evolve and mature, users can expect an even more robust and feature-rich environment to explore, ushering in a new era of decentralization and scalability on the Ethereum network.

As the zkSync ecosystem continues to grow, the introduction of a native token is a much-anticipated development. Though the details remain sparse, the token is expected to play a crucial role in securing the network and incentivizing user participation.

Staking will likely be an essential component of zkSyncs tokenomics, with validators expected to lock up a certain amount of the native token to participate in the networks consensus mechanism. These validators will help maintain network security and validate transactions, earning rewards for their role in upholding the integrity of the zkSync ecosystem.

In addition to staking, the native token may also be used to pay for transaction fees, providing an alternative to the current fee model based on Ethereums gas fees. This could further enhance the user experience and potentially lower the barriers to entry for new users.

As the launch of the zkSync token approaches, there is considerable speculation about a potential airdrop for early adopters and supporters of the platform. While the team has not confirmed any details, such an event could serve as a powerful incentive for users to engage with zkSync and explore its growing ecosystem.

Embarking on your journey with zkSync doesnt have to be complicated. Here are the steps you need to follow:

First, navigate to the zkSync wallet website (wallet.zksync.io) and click on the Connect Wallet button. Youll be presented with a list of supported wallets, including popular choices like MetaMask, WalletConnect, and Ledger. Select your preferred wallet and follow the prompts to establish a connection.

Once your wallet is connected, youll need to fund your zkSync account with some assets. Click on the Deposit tab, select the token you want to deposit, and enter the desired amount. Double-check the information and confirm the transaction through your connected wallet. Keep in mind that youll need to pay Ethereum gas fees for this initial deposit.

After depositing funds into your zkSync account, youll need to activate it. Click on the Activate Account button, and your wallet will prompt you to sign a message. This process is free and only requires your digital signature. Upon activation, your account will be ready for transactions on the zkSync network.

With your account funded and activated, youre now ready to make transactions on the zkSync network. Click on the Send tab, enter the recipients Ethereum address or zkSync account ID, select the token you want to send, and input the amount. Confirm the transaction details and sign the message with your wallet. The funds will be transferred almost instantly, and youll enjoy the benefits of low fees and fast confirmation times.

Now that youre familiar with the basics of using zkSync, you can explore the vast ecosystem of decentralized applications (DApps) and platforms built on the network.

The zkSync ecosystem is teeming with innovative decentralized applications (DApps) that leverage the networks fast, low-cost transactions to provide users with a seamless DeFi experience.

In the world of blockchain technology, interoperability is essential for fostering collaboration and creating a more interconnected ecosystem. This is where bridges come into play. A bridge allows assets and data to be transferred seamlessly between different networks, enhancing the overall user experience and opening up new opportunities for growth.

The Ethereum L2 scaling landscape consists of several prominent solutions, each with its unique approach to addressing the networks limitations. By examining the key differences between zkSync and its competitors, we can better understand the advantages and drawbacks of each solution.

Optimistic rollups, used by platforms like Arbitrum and Optimism, serve as one of the main alternatives to zkSyncs zk-rollup technology. There are several distinctions between these two approaches:

Another notable competitor in the L2 scaling space is Starkware, which also utilizes zk-proof technology. Here are some differences between zkSync and Starkware:

The future holds immense potential for zkSync and its users, as the development team continues to push the boundaries of whats possible with layer-two scaling solutions. With the forthcoming release of zkSync 2.0 and the eventual integration of ETH2 data sharding, the ecosystem will undoubtedly continue to evolve and expand.

Continued here:

How the ZkSync Ecosystem Ensures Fast, Secure, and Cost ... - Cryptopolitan

Tableland, a permissionless relational database for Web3 applications, announced today that it has secured $8 million in a Series A funding round led by CoinFund, bringing the total amount raised to $10.4 million. Other participants in the round included Multicoin Capital, Blueyard, and A Capital.

The funds will be used to launch Tableland on the mainnet, release new developer tools, and roll out Tableland Studio later this year.

Tableland is built on the SQLite engine, and it enables developers to construct complicated relational data models for decentralized games, apps, and NFTs. The models are stored and distributed on the Tableland Network, a decentralized network of validators governed by the Tableland Protocol.

The Tableland Network is currently available in beta on Ethereum, Polygon, Arbitrum, and Optimism, with an incentivized testnet planned for Q4 2023, followed by a production mainnet in early 2024.

SQL is by far and away the most popular programming language in the world for relational databases, yet it is practically non-existent in web3, said Alex Felix, Founder & CIO at CoinFund. The talented and ambitious Tableland team is solving this problem by bringing the familiarity of serverless relational databases and SQL to web3, thus paving the way for a new era of data-centric applications to emerge.

Tables in Tableland are on-chain assets that can be grouped into data models controlled by wallet-based authentication, row-level permissions, or smart-contract integration. Developers can create tables, insert or query data, and grant write access to their databases with other NFTs, access tokens, or address-based rules. The combination of these features makes the database layer of applications more composable and web3 native.

Tableland Studio is a new developer platform for designing and reusing relational database models that helps developers build apps faster. It provides a directory of pre-built data models, easy connectors for smart contracts, collaboration tools, and a suite of pre-built integrations with other protocols, such as IPFS, Filecoin, and ENS. Tableland Studio is making exciting progress and approaching its initial release for beta testers.

For NFT creators, Tableland offers an efficient and structured alternative to storing data on-chain, said Andrew Hill, Co-founder at Tableland. For game creators, Tableland makes crafting NFTs easier due to the composability of each NFTs metadata. It also makes creating Lootboxes cheaper by moving state mutations off-chain.

Tableland currently supports Ethereum, Polygon, Arbitrum, and Optimism, and is set to announce Filecoin FVM integration in the coming weeks. Further plans are in place to support zkEVMs later this year.

Read Also: Oracle announces Oracle Database 21c with Immutable Blockchain Tables

The rest is here:

Tableland raises $8M Series A Funding Led by CoinFund to bring SQL to web3 with permissionless relational database - AlexaBlockchain

Best Cardano DEXes in 2023

In the world of cryptocurrencies, decentralized exchanges (DEXes) are becoming an increasingly popular way for people to trade digital assets, stake ADA and liquidity mine in a secure, decentralized environment. With so many options available, it can be difficult to know which platform is the best fit for your needs. In this article, we will explore why WingRiders could be the best Cardano DEX.

First, lets take a look at what a decentralized exchange is and how it works. Unlike centralized exchanges, which are controlled by a single entity, decentralized exchanges are built on blockchain technology and operate on a peer-to-peer network. Smart contracts are used to allow traders to execute orders without the need for an intermediary. This means that its possible to have complete control over assets and there is no central authority controlling the platform.

WingRiders is a decentralized exchange built on the Cardano blockchain. This means that it leverages the advanced security features of the Cardano network to provide a safe and secure environment for trading. Additionally, the platform is designed to handle a high volume of trades, making it an efficient and scalable option for trading digital assets.

DEXes have many advantages compared to centralized exchanges, other than being non-custodial including;

Centralized exchanges must check tokens for local compliance before listing them. Decentralized exchanges may list any token created on their blockchain, therefore new projects will likely list on them before its centralized equivalents.

On DEXes, users identity is protected when exchanging one cryptocurrency for another. Users do not need to go through a conventional identification process known as Know Your Customer, as opposed to centralized exchanges (KYC). KYC procedures require traders to provide personal information such as their complete legal name and an image of a government-issued identity document. As a result, DEXes attract many people who do not want to be recognized.

Counterparty risk occurs when the other party in a transaction fails to perform its half of the bargain and breaches its contractual duties. This danger is minimized since decentralized exchanges operate without middlemen and are based on smart contracts.

There are a number of key features that set it apart from other decentralized exchanges.

First and foremost, WingRiders DEX stands out for delivery and development ranking number 1 for;

Alongside these firsts as a DEX in Cardano, WingRiders is also fully DAO operated, Auto-stakes all ADA, offers voting across Stakepools and has direct integration into the Nu.Fi Wallet and many other popular tools.

Offering early market adoption and services using top hardware wallet integration, stable tokens and more to lessen the risk is beneficial and shows a strong desire to be at the front of the market.

With regular crypto yield farming, you deposit your LP tokens that you received for providing liquidity to a pool into an active farm and receive one type of token as a gain.

Taking this to an entirely new level, WingRiders partner up with other projects that wish to distribute their Cardano native tokens to the community. A liquidity pool is created with the two tokens and then an associated farm meaning you will gain not just with one, but two types of tokens from that farm.

Explore WingRiders

In addition to its technical features, WingRiders also offers a friendly interface that makes trading simple and intuitive. This makes it an attractive option for both experienced traders and those new to the world of decentralized exchanges.

One of the biggest advantages of WingRiders is its commitment to providing the best possible experience. The platform is constantly evolving and improving, with new features and upgrades being added on a regular basis such as the above charting upgrades, offering the ability to monitor and analyze the assets price movement, TVL and trading volume within pools to develop trading strategies over time. This means to expect a top-notch trading experience that continues to get better over time.

Related Wingriders Article: Trading Tool Guide

Finally, WingRiders has a large and growing community. The platform has moderators who are available to assist with any questions or concerns. This means that getting help quickly and as easily as possible, without waiting for a response from a centralized authority is available.

In conclusion, if youre looking for the best Cardano DEX, WingRiders can be a great option. Earning double rewards using their DEX token WRT in yield farming, with the platforms advanced security features, smart contract technology, user-friendly interface, and commitment to providing the best possible experience, its a top choice for decentralized trading. Whether youre an experienced trader or new to the world of decentralized exchanges, WingRiders has everything you need to trade digital assets with confidence.

Please take time to research platforms, and make decisions to lessen risk. Its important to remember that you are ultimately responsible for your own investments and you need to take care across all DEX, crypto wallet and other available services in DeFi.

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Excerpt from:

What is the Best Cardano DEX, and Why is it WingRiders? - DataDrivenInvestor

tl;dr (Don't worry if you don't understand, a full explainer follows): A zkEVM is an EMV-compatible rollup that is secured by a ZKP. Zero-Knowledge Rollups (zk-Rollups) are a type of rollup that uses Zero-Knowledge Proofs (ZKPs). A ZKP is a cryptographic proof that verifies the transaction data within a zk-Rollup is accurate.

The ZKP in a zk-Rollup enhances both the privacy and security of a rollup as this proof verifies the transactions in it no trust or optimism is required. It is called zero-knowledge in the sense that you can verify the truth of all the data and transactions in a zk-Rollup without needing to know the details of every transaction contained within it.

In order to understand zkEVMs, we need to go back a few blocks and explain this dense portmanteau of acronyms (zk-Rollups and EVMs). The Ethereum Virtual Machine (EVM) is the computing environment of the Ethereum blockchain. The EVM could be thought of as a decentralized virtual computer; this is why Ethereum is sometimes referred to as the global supercomputer. The EVM is where smart contracts and decentralized applications (dApps) on Ethereum interact with each other. Ethereums EVM is one of the core protocol features that has made it a pillar of the blockchain ecosystem.

Rollups bundle transactions in order to improve a blockchains throughput (data or transaction processing capability over a specific time frame) while lowering transaction costs at the same time. In essence, a rollup rolls up (combines) a number of transactions from a Layer-1 protocol (a blockchain like Ethereum) and executes them off-chain (not on the primary blockchain) using a Layer-2 protocol such as a sidechain or an EVM-compatible blockchain.

Some rollups are optimistic, meaning they are assuming (optimistically) that all the transactions in a rollup are valid and not fraudulent. For this reason, there is a period (typically several days) where one can challenge the validity of a transaction. Examples of Optimistic Rollup (ORs) for Ethereum include Optimism, Arbitrum, and Boba Network. While ORs significantly lower costs and increase transaction throughput, faulty transactions can get through if they are not challenged in a timely manner.

Popular zk-Rollup solutions include dYdX and Loopring. While these have security advantages, zk-Rollups tend to be a little more computationally expensive than ORs.

Comparing these two Ethereum rollup types, they both have some downsides. While ORs tend to be EVM compatible, they come with some concerns about fraud and security. While zk-Rollups tend to be praised for having better security, they generally can only used in specific transactions as they typically lack EVM compatibility; this means that zk-Rollups are limited to being used for bespoke processes that limit their adoption and use cases.

For these reasons, many have expressed the desire for a rollup that combines the best features of these alternatives into one solution; that solution is now here.

A zkEVM is an EMV-compatible rollup that is secured by a ZKP. This gives it the enhanced functionality of some of the Optimistic Rollup solutions that are EVM-compatible while also giving it the security of earlier zk-Rollup options that didnt offer compatibility with Ethereums EVM. These new zkEVMs allow for enhanced Ethereum process functionality (smart contracts and dApps) while also lowering gas costs and increasing Ethereum network throughput.

Ethereum as a blockchain has suffered at times from high transaction fees and transaction confirmation delays. Further, the Ethereum blockchain itself can not natively process more than approximately 30 transactions per second (TPS). Each rollup solution can increase transaction throughput by up to 2,000 TPS or more. While Ethereums recent upgrade (called The Merge) will increase scalability, many expect Layer-2 scaling solutions such as rollups to remain popular for some time in order to ameliorate Ethereum transaction congestion issues. Scalability is one major benefit of zkEVMs.

While scalability had already been enhanced via earlier rollup iterations, zkEVMs combine this scalability with privacy, security, and enhanced interoperability. By combining ZKPs with EVM compatibility, zkEVMs keep the security and privacy-preserving features of zk-Rollups while enhancing Ethereum interoperability by preserving EVM compatibility. This allows zkEVMs to be interoperable with smart contracts and dApps used on Ethereum. Further, these zkEVMs should also work on EVM-compatible blockchains such as Avalanche, Solana, and Fantom.

Like other rollup solutions, zkEVMs significantly lower transaction costs. At the time of writing, Ethereum transaction costs were approximately $0.90/transaction (when converted to USD). As zkEVMs can process hundreds or thousands of transactions in a batch off-chain, this transaction cost can be split amongst all the transactions in a rollup by simply verifying the proof of the rollup on Ethereum in a single transaction. This can lower the cost per transaction to less than $0.01 for simple solitary transactions and a bundle of around 100 transactions could be executed for less than $0.10 worth of crypto.

Another big benefit of zkEVMs is their interoperability. Existing smart contracts and dApps can easily be migrated to a zkEVM to take advantage of rollup benefits without requiring any coding changes. And because zkEVMs are verified on Ethereum just like other rollups, they have largely the same level of security as the native Ethereum blockchain protocol.

Launched just days apart in late March 2023, the first two zkEMVs to be released to the public were from zkSync and Polygon (on March 24th and 27th, respectively). In development since 2019, zkSyncs solution called zkSync Era went live to much fanfare and is the first zkEVM to be publicly available. The Polygon zkEVM is open source and Ethereum creator Vitalik Buterin was given the privilege of sending the first transaction following its public release.

Both options already have long lists of crypto projects that have indicated they plan to use one or both of these zkEVM solutions. It should be noted that while these zkEVMs have undergone significant security testing, both teams have cautioned that these are early versions that should initially be used carefully. Like the first iterations of other blockchain breakthroughs, they may go through some developmental growing pains and security upgrades over the coming years.

While these are the first two zkEVMs to be available for public use, there are numerous other zkEVM projects in development with a public release on the horizon, including alternatives from Consensys, Scroll, and Taiko. While Ethereum continues to work towards on-chain scaling through future upgrades to its protocol, these upgrades can often be delayed significantly due to their requirements and technical complexity. Layer-2 solutions like zkEVMs are continuing to solve pain points for Ethereum as it continues its developmental goals of scalability, security, throughput, decentralization, and enhanced functionality.

Read more:

What Is zkEVM? The Zero-Knowledge Proof's Role in Smart Contracts - Decrypt