Key Point:
The competition’s winner was zkPass, a decentralized identity verification solution that preserves privacy. After the show, the zkPass team expressed intense excitement at winning the competition and the opportunity to work closer with Binance Labs.
zkPass is a privacy-preserving identity protocol that enables users to selectively disclose verifiable data to third parties without revealing or uploading detailed documents. Based on Multi-Party Computation (MPC) and Zero-Knowledge Proof (ZKP) technologies, zkPass prioritizes privacy preservation, security, trustworthiness, and compatibility with various data sources in the digital landscape.
It integrates into any HTTPS websites and on-chain data sources through a TLS-based Oracle, ensuring data integrity and validity with various identity sources. With cutting-edge privacy computing techniques, zkPass provides a comprehensive solution for identity verification across Web2 and Web3, aiming to be a robust infrastructure for decentralized society.
Apart from zkPass, four other contestants received investment offers from Binance Labs. These include Mind Network, a decentralized privacy-preserving data lake, Kryptoskatt, a project simplifying Web3 finance, Bracket Labs, a decentralized finance (DeFi) platform creator, and DappOS, an operating protocol.
Binance Chief Business Officer Yibo Ling, who participated as a judge in the contest, stated that they are looking forward to seeing the growth of the competition’s winner. Ling emphasized the importance of building the foundations of sustainable ecosystems that allow scalability, specifically those enabled by zero-knowledge-proof techniques.
Binance Labs’ support for these startups is a positive sign for the industry. It shows a growing demand for innovative solutions that enhance user experience and improve security. With the proper support and investment, these startups can continue to grow and innovate, paving the way for a more decentralized and democratized future.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Thana
Coincu News
Here are the latest predictions for Dogecoin, Shiba Inu, and ETFswap.
Discover BlockDAG's 100% bonus and $110M presale surge that’s sparking interest among crypto enthusiasts. Also,…
Discover why crypto investors are moving to ETFSwap (ETFS) as $500 million liquidity injection is…
Learn about BlockDAG's $110M presale achievement and the whopping 100% bonus offer, alongside Ethereum's growth…
Thai police corruption exposed as officers extort millions in USDT from a Chinese man under…
SafePal Telegram Wallet allows 950 million users to create compliant crypto-friendly Swiss bank accounts, integrating…
This website uses cookies.