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Polyhedra Network launches Proof Cloud in open beta

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Polyhedra Network has announced the open beta launch of its Proof Cloud at the Google ZK Summit. 

Proof Cloud is designed to make ZK proofs more accessible in both web2 and web3 environments. Supported by Google Cloud, Polygon (MATIC), Linea, and Lita, Proof Cloud aims to meet the rising demand for efficient and cost-effective zero-knowledge proof technology.

ZK-proof technology allows one party to prove to another that they know a value or statement is true without revealing any information about the value itself.

It is commonly used in blockchain and crypto for privacy and security. The Polyhedra Network connects over 25 blockchains through its zkBridge interoperability solution.

Proof Arena

A key feature of Proof Cloud is a tool called Proof Arena that offers transparency in ZK-proof technology. This platform enables developers to execute prover benchmarks, test performance, and compare results. Proof Arena supports various ZK-proof systems, including Polyhedra’s Expander, Polygon’s Plonky3, StarkWare’s Stwo, and Linea’s Gnark.

Eric Vreeland, Polyhedra Network’s Chief Strategy Officer, emphasized the platform’s potential to reduce computational costs. 

“Through Proof Arena, developers will be able to maximize the performance of their zk-proofs and use the prover that is best suited for their needs. By using the Proof Cloud ZK-as-a-service platform, developers can leverage the fastest and most efficient ZK provers, reducing their computational costs by up to 90%” Vreeland said.

Sandeep Nailwal, Polygon Labs Co-Founder, highlighted the importance of tools like Proof Cloud in making ZK technology more accessible and transparent. Polygon’s proving technology will be available on Proof Cloud, contributing to cost reduction for developers.

“Zero-knowledge technology continues to progress at a lightning-fast pace. Tools like Polyhedra’s Proof Cloud are critical to lowering the barrier to entry for building with ZK and add much-needed transparency to the space,” said Nailwal. 



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Donald Trump

Here’s How Quickly Gary Gensler Could Lose His SEC Chair Gig Under Trump

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Gensler has been on the forefront of those actions, being openly skeptical of cryptocurrencies. Just last month, he reiterated his views haven’t changed. Speaking at NYU’s School of Law in Manhattan in October, he said: “With all respect, the leading lights of this field in 202[4] are either in jail or awaiting extradition right now.”



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Blockchain

Eclipse launches public mainnet of first SVM L2 on Ethereum

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Eclipse Foundation announced on Nov. 7 that Eclipse, a Solana Virtual Machine-powered layer-2 on Ethereum, had launched its public mainnet.

The milestone is a key step in Eclipse’s quest to bring the best of both Ethereum (ETH) and Solana (SOL) to users, Eclipse Foundation said in a press release.

Vijay Chetty, CEO of Eclipse, noted that bridging these leading networks for decentralized applications and finance could drive a new wave of ecosystem development. Key areas likely to see growth from increased dApp activity include DeFi, consumer applications, and gaming.

“Eclipse is uniquely positioned as the first solution to bridge the gap between Solana and Ethereum, offering a powerful platform that caters to both communities. Our goal is to empower developers from both ecosystems to build and scale their dApps like never before, unlocking new opportunities across the largest networks in the industry.”

Vijay Chetty.

Eclipse’s launch of the layer-2 public mainnet follows its developer-focused mainnet release in October. Since then, the platform has expanded its ecosystem by integrating projects such as Orca, Nucleus, and Save.

Developers on Eclipse can utilize Solana’s parallel execution capabilities and Ethereum’s liquidity and security, alongside access to Ethereum’s vast user community and asset base. Eclipse’s architecture enables developers to leverage the Solana Virtual Machine for scaling and enhanced user experiences.

As a result, Eclipse aims to eliminate the previous fragmentation that required developers to choose between the two ecosystems.



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Bitcoin

Benjamin Cowen Issues Bitcoin Alert, Says Potential Plunge ‘That Scares People’ Incoming – Here’s His Outlook

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Widely followed analyst Benjamin Cowen is issuing a warning on Bitcoin (BTC) as the flagship crypto asset trades near its all-time high.

In a new video, Cowen tells his 820,000 YouTube subscribers that Bitcoin could turn bearish around one month after the US general election.

“I just want to put that out there as one potential outcome that following the election, there’s going to be a lot of really bold calls as to what will happen. And what I think could happen is a drop sometime in early December that scares people. And I think it might be around the time of the labor market release [Non-Farm Payroll report is scheduled for December 6th].”

According to Cowen, Bitcoin could drop somewhere between 12% to 46% from the current level if the bearish scenario plays out.

“What is unclear to me right now is whether that drop by Bitcoin is just back-testing this [around $65,000] and then going up in 2025 or if it’s back-testing down here [around $40,000] and then going up. That is what I still remain somewhat unsure of…”

Source: Benjamin Cowen/YouTube

At time of writing, Bitcoin is trading at $73,813, down about 2% from its all-time high of around $75,400.

The widely followed analyst says that his envisaged Bitcoin correction in December would likely be temporary if it happens.

“I could envision a scenario where after the political outcomes are all decided if Bitcoin doesn’t immediately move up and then it starts to crash people might assume that the cycle is over. But it could very well just simply be the soft landing scenario…

…you could get a situation where you know Bitcoin sort of falls here and then rallies on up to new all-time highs in 2025.”

Source: Benjamin Cowen/YouTube

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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