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Vitalik Buterin, the co-founder of Ethereum, has released a new blog post discussing a new cryptographic proving system that can make zero-knowledge proofs more efficient.

The proving system, called Binius, is designed to operate directly over binary code on computers. Binary code is a language understood by computers, and it is used to store information and represents data using the symbols zero and one, otherwise known as bits.

Although there are some similarities between STARKs and Binius, Buterin explains that the mathematical tricks that enable these different proving systems are very different.

Generally speaking, STARKs is a technology that has enabled complicated statements to be easily cryptographically verified. It is designed in a way that can easily compute numbers when they are of small value, when there are large values, STARKs generate extra values, which can lead to inefficiency.

Unlike STARKs that arithmetize a statement into a polynomial equation a mathematical expression which model a relationship between variables in a block Binius treats data as a hypercube and grid, and uses multilinear polynomials to perform cryptographic proofs.

Binius converts individual values into bits and places them in a hypercube and a square. This hypercube is then converted into a grid and computations are performed in order to receive an output matrix.

A verifier will then perform its own computational calculations to ensure that the information itself matches and ensure that the compute columns returns a value claimed by the prover.

I highly encourage people to understand and explore! Lots of innovations have been happening in ZK-proving recently. And I expect lots more to come soon, Buterin wrote in an X post.

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Vitalik Buterin talks ways to make zk proofs more efficient - Blockworks

Vitalik Buterin recently introduced a new proof technology called Binius, which utilizes binary fields and aims to improve the efficiency of zero-knowledge proofs within blockchain applications. Binius is a departure from the existing SNARK and STARK technologies introduced years ago.

Earlier, Buterin sparked curiosity and confusion within the blockchain space with his initial presentation of nonsensical equations. However, this was later clarified as a creative approach to introducing Binius. This new system doesnt change basic math but uses known concepts, like binary fields, in new ways to improve cryptographic methods.

Explaining the advantages, Buterin highlighted how smaller fields could lead to more efficient proof generation, citing the unique properties of binary fields. Binius aims to lighten computing loads and quicken transactions on blockchain networks, which is crucial given the current costs and speeds associated with zero-knowledge proofs.

Despite the potential benefits, Biniuss complexity means that developers may need time to fully understand this technology in existing systems. Its practical effectiveness will also require extensive testing to validate its impact on enhancing transaction efficiency and reducing costs.

The introduction of Binius by Buterin represents a significant step in the ongoing efforts to advance blockchain technology, promising to improve scalability and efficiency through refined cryptographic techniques.

Also Read: Nera Secures $4.5 Million for Zero-Knowledge Proof Research

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Vitalik Buterin Launches Binius to Enhance Blockchain Tech - Crypto Times

Ethereum co-founder Vitalik Buterin publicly favored multisig over Shamir backup, saying the latter is way easier to screw up for ordinary users.

In an X discussion among crypto enthusiasts, worries about the security risks linked to cold wallets have taken center stage, prompted by Ethereum co-founder Vitalik Buterins raised concerns regarding their potential pitfalls.

Peter Watts, the founder of NFT marketplace Reservoir, went on X to caution about the dangers of using hardware wallets, mentioning the risk of losing seed phrases or hastily moving assets stored in a banks safety deposit box, especially during unexpected events like the COVID-19 pandemic.

Counterpoint: when using a hardware wallet, the biggest risk becomes yourself. Beware of the footguns: Someone finds your stashed seed You hide the seed so well you forget You put the seed in a bank safety deposit then hastily move overseas due to covid https://t.co/UzAV13wzPB

The conversation took a new turn when Vitalik Buterin joined it, advocating for the use of multisignature (also known as multisig) solutions for securing personal funds. Buterin didnt reject the idea of cold wallets but highlighted decentralizing security, preferring multisig setups where multiple keys are required for transactions, emphasizing the importance of security in crypto.

The above is why I use a multisig (@safe) for >90% of my personal funds

M-of-N, some keys held by you (but not enough to block recovery), the rest held by other people you trust. Don't reveal who those other people are, even to each other.

Decentralize your own security.

He emphasized the need for a M-of-N configuration, where some keys are held by the user and others by trusted individuals, without disclosing their identities even to each other.

In response to Buterins suggestion, Ethereum investor Tobby Kitty proposed Shamir, a backup method for splitting cryptographic keys or passwords into multiple parts called shares. While acknowledging the benefits of Shamir, Buterin cautioned that its way easier to screw up compared to multisig, as it depends on carefully handling and storing many parts of the secret. If any of these parts are lost or handled incorrectly, it could be impossible to put the secret back together.

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Ethereum's Buterin advocates multisig, says Shamir backup is 'way easier to screw up' - crypto.news

Dozens of crypto whale wallets with assets ranging from six to seven figures are stuck on multiple decentralized finance (DeFi) bridge contracts.

One of these whale wallets is linked to Ethereum co-founder Vitalik Buterin, who has over $1 million worth of assets stuck for over seven months, with other wallets having assets unclaimed for over two years.

According to a report published by crypto analytics firm Arkham Intelligence, several notable whale addresses linked to prominent crypto individuals and entities have their funds stuck in the bridge contracts for as long as two years.

DeFi bridge contracts are software protocols that allow the movement of assets and data between different blockchain networks, enabling interoperability within the DeFi ecosystem.

However, not all DeFi bridges function the same. On the one hand, cross-chain bridges enable users to automatically obtain their assets on the other chain.

On the other hand, traders using native bridges must retrieve their funds manually as there is no way for the smart contract to remind users to do so, which could result in situations where users forget their money.

One wallet linkedto thomasg.eth has had $800,000 stuck in Arbitrum Bridge for one year and 10 months. Another wallet, linked to Bofur Capital, with 27 wrapped Bitcoin worth $1.8 million, has been stuck for two years and three months.

Similarly, another wallet linked to nonfungible token (NFT) user Mike Macdonald has about $117,000 in assets linked to CryptoPunks sales stuck on a bridge contract.

Arkham suggested the account owner take a look, reminding them that if they own the account that sent 5 CryptoPunks to, then you might also own the account that received the proceeds after they were sold.

Another wallet that received 50 Ether (ETH) from Vitalik.eth seems to have been forgotten for seven months despite holding nearly $1 million worth of ETH on the Optimism bridge.

Another linked to Coinbase crypto exchange was also identified and contains $75,000 worth of assets stuck for nearly six months.

Arkham suspects Coinbase tried bridging $75,000 worth of USD Coin (USDC) to ETH and forgot about it. The assets are stuckin the Optimism bridge contract and waiting to be claimed.

Arkham notified whales linked to the stuck and forgotten funds to retrieve them in case they had forgotten about them. It also reminded the community that these instances can occur due to the nature of cross-chain bridges.

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Wallets linked to Coinbase and Vitalik Buterin have millions 'stuck' in bridge contracts - Cointelegraph

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