Margulus

NAM transfers Jun 13 💥 25k $NAM to try shielding w @namada, lfg 500 NAM x 50 humans who: 1. shield a token w @namada 2. qt this with: - screenshot of shielded assets - your znam - answer “One real thing you wanna do privately on-chain?”

Introducing Circles — an ambitious experiment on money. For the first time ever, you can create your own money without needing a bank or a government. 🧵

BIG NEWS: Federal appeals court says Treasury overstepped its authority when sanctioning immutable smart contracts deployed by the @TornadoCash devs because they are NOT property of a foreign person or entity. "The immutable smart contracts at issue in this appeal are not property because they are not capable of being owned. More than one thousand volunteers participated in a “trusted setup ceremony” to “irrevocably remov[e] the option for anyone to update, remove, or otherwise control those lines of code.” And as a result, no one can “exclude” anyone from using the Tornado Cash pool smart contracts. In fact, because these immutable smart contracts are unchangeable and unremovable, they remain available for anyone to use and “the targeted North Korean wrongdoers are not actually blocked from retrieving their assets,” even under the sanctions regime. Simply put, regardless of OFAC’s designation of Tornado Cash, the immutable smart contracts continue operating. And furthermore, because the software continues to operate regardless of the sanctions, and the blockchain technology “allows peer-to-peer transfers . . . without requiring the recipient to consent to transfer,” some users may become liable whenever someone transfers them digital assets via Tornado Cash, even without their knowledge or consent." Further, OFAC's longstanding practice of including "contracts" and "services" as property doesn't apply here, because these smart contracts aren't contracts or services. On the services point, "No human effort is expended by the immutable smart contracts. And even by the Department’s definition, the immutable smart contracts, which are nothing more than lines of code, are less like a “service” and more like a tool that is used in performing a service. That is not the same as being a service.” Moreover, they aren't ownable, so even under OFAC's own regulations they aren't property that can be sanctioned. In sum, they cannot be blocked under federal law. They certainly can't be blocked as an exercise of OFAC's discretion. This does NOT mean that the rest of Tornado Cash is out of bounds for Treasury/OFAC too. The issue was about smart contracts with no admin key. A good win. One which the Supreme Court would be unlikely to reverse. Another case where Loper Bright helped because the court wasn't required to defer to a permissible reading by the agency. Kudos to @coinbase (@iampaulgrewal) for being a big driver of this.

“Based on what you know about me, draw a picture of what you think my current life looks like”

The @penumbrazone client-side ZK work is awesome. I recommend watching their talk at ZK 12 from Tal Derei

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After five years of building, the day has finally come. There have been many twists and turns, many victories and setbacks, but we did it. I've been proud to lead this team to this point. But to be clear, this accomplishment wouldn't have been possible without the work of dozens of employees, hundreds of ambassadors, and thousands of community members. But I'd like to give a special shoutout to @1HowardWu, @secparam, @matthew_d_green, @zkproofs, Sean B, and Alessandro C. for giving birth to this dream by authoring the Zexe paper in 2018. I couldn't be more excited about what comes next and to see what developers build now that @AleoHQ is live.

Parallel execution for full nodes offers significant performance improvements. Traditionally, a fresh @fuel_network node syncs to the latest block by downloading and serially re-executing all transactions in the chain. By executing these expensive cryptographic opcodes in parallel, nodes can achieve significantly better performance. @weijie_eth has built cross-platform WebGPU shaders for these operations: • EdDSA on curve25519 • ECDSA on secp256k1/r1 1/4

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penumbra

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