Cryptography, Motivation, Patience
Cryptography, Motivation, Patience
3.02 | "Lack of emotion causes lack of progress and lack of motivation." - Tony Robbins
News and Numbers
Markets this Week:
S&P 500 is up 1.5%
NASDAQ 100 is up 3%
Bitcoin-USD is down 1%
Ethereum-USD is trading flat
Headlines from this Week:
Meta platform’s Instagram is planning to release a text-based app that will compete with Twitter and may debut as soon as June.
Finance
By Vlad Estoup, B.Comm. (Finance), working in Ethereum cybersecurity
How Crypto(graphy) is shaping finance
(Part II)
ZkSync and zkSNARKs (Zero-Knowledge Succinct Non-Interactive Argument of Knowledge) are two groundbreaking technologies that are shaping the future of decentralized finance (DeFi) by addressing scalability and privacy challenges. Let's explore how each of these innovations is contributing to the advancement of DeFi.
ZkSync is a layer-2 scaling solution designed to enhance the scalability of Ethereum and other compatible blockchains. It achieves this by leveraging zero-knowledge proofs, which allow for the verification of transactions without revealing their details. ZkSync enables high-speed, low-cost transactions by bundling multiple transactions together and submitting them as a single proof on the Ethereum mainnet. This aggregation significantly reduces gas costs and enhances the overall throughput of the network.
One of the key benefits of ZkSync is its compatibility with existing Ethereum infrastructure. Developers can easily integrate their applications with ZkSync using familiar tools and libraries, making it more accessible to the DeFi ecosystem. By alleviating Ethereum's scalability constraints, ZkSync enables DeFi platforms to process a higher volume of transactions, resulting in improved user experience and reduced congestion on the mainnet.
Now let's delve into zkSNARKs, the underlying cryptographic technology behind ZkSync and various other privacy-focused applications. zkSNARKs allows for the construction of succinct zero-knowledge proofs, enabling verifiable computations without revealing the input data. This technology is revolutionary for DeFi because it allows users to maintain privacy while participating in financial transactions.
In the context of DeFi, zkSNARKs enables confidential transactions, where the transaction amount and participant identities are concealed. This confidentiality feature is crucial as it addresses one of the primary concerns in the DeFi space - the exposure of sensitive financial information. With zkSNARKs, users can engage in DeFi activities while maintaining their privacy and protecting their financial data from prying eyes.
Moreover, zkSNARKs facilitate trustless setups, enabling auditors and validators to verify the integrity of transactions without access to the underlying data. This feature enhances the security and reliability of DeFi protocols by minimizing the reliance on centralized third parties. Additionally, the implementation of zkSNARKs can help reduce the overall computational and storage requirements, making DeFi applications more efficient and cost-effective.
By combining the scalability benefits of ZkSync with the privacy features enabled by zkSNARKs, DeFi platforms can offer users fast, low-cost transactions with enhanced privacy protections. This combination not only improves the user experience but also enables the development of new DeFi applications that were previously limited by scalability and privacy concerns.
Overall, ZkSync and zkSNARKs are playing pivotal roles in shaping the future of DeFi. They are addressing key challenges such as scalability, transaction costs, and privacy, ultimately unlocking new possibilities for decentralized finance. As these technologies continue to mature and gain wider adoption, we can expect to see a more scalable, efficient, and privacy-centric DeFi ecosystem, enabling greater financial inclusion and innovation.
This is not financial advice and you should always do your own research before investing in any securities or cryptocurrencies.
Sci-Tech
By Keyann, Software Engineer in Web3
Visualizing Cryptography
Cryptography can be a very abstract topic that’s difficult to understand without visuals. So this week we’re going to dive in.
Cryptography forms the backbone of modern data security, with hashing and encryption as its fundamental techniques. This article delves into the world of cryptography, shedding light on hashing and encryption, while highlighting the key differences between integrity and confidentiality. We'll explore the nature of cryptographic functions and their role in ensuring data security.
Hashing and Encryption:
Cryptography employs two essential techniques: hashing and encryption, each serving distinct purposes. Hashing involves transforming data into a fixed-length string called a hash value, using a hashing algorithm. This one-way function generates a unique digital fingerprint for the data, enabling data integrity verification and efficient retrieval. Popular hashing functions include MD5, SHA-1, and SHA-256.
Below is an example of SHA-256 at work. You can see the input to the hash function is ‘hello’, which outputs the hash, ‘2cf24dba5……b9824’.
if you change the inputs at all, even the slightest bit like ‘helloo’, the output changes completely, and there’s no pattern to this difference. It was be practically impossible to reverse the input and see it was an extra 0, compared to the last.
On the other hand, encryption is designed to provide confidentiality by converting data into an unreadable format known as ciphertext. Encryption algorithms, along with keys, facilitate the encryption and decryption process. Symmetric encryption employs the same key for both encryption and decryption, while asymmetric encryption uses different keys for these operations. Widely used encryption algorithms include Advanced Encryption Standard (AES), Data Encryption Standard (DES), RSA, and Elliptic Curve Cryptography (ECC).
Integrity vs. Confidentiality:
Integrity focuses on maintaining data accuracy and consistency, ensuring that it remains unaltered throughout its lifecycle. Hashing plays a vital role in preserving data integrity, as even a slight modification in the input data results in a drastically different hash value. By comparing hash values, organizations can verify data integrity and detect potential tampering or corruption.
Confidentiality, on the other hand, revolves around safeguarding sensitive information from unauthorized access. Encryption is the cornerstone of confidentiality, ensuring that only authorized parties possessing the correct decryption key can decipher the encrypted data. This protects sensitive information even if it falls into the wrong hands.
Cryptographic Functions - One-Way and Onto:
Hashing functions are one-way functions, meaning it is computationally infeasible to retrieve the original input data from the hash value. Encryption functions, especially those used in symmetric encryption, are also one-way functions. However, asymmetric encryption functions are based on mathematical problems that are considered difficult to solve, but not strictly one-way.
The below graph represents a cryptographic function. There’s no pattern that enables you to predict the x input given a y value. Same way there’s no discernible pattern of someone’s keys given the hash of some string.
In contrast, a linear function would make for a terrible hash function choice, because its behaviour would be very predictable. Given some string of numbers that represent a hash or encryption, you could easily deduce the input.
Paradigm Shift
By Roman Kuittinen-Dhaoui, BBA (Hons.), CPHR Candidate
Burnout = Lack of Motivation
Burnout can be defined as a state of physical, emotional, and mental exhaustion that occurs as a result of prolonged or excessive stress, particularly related to work or other demanding responsibilities.
Alternatively, burnout can also be defined as a lack of motivation; meaning a state of exhaustion and disengagement that arises due to a prolonged or significant decline in drive, passion, and interest in something (e.g., work). It occurs when the intrinsic motivation that used to fueled the enthusiasm and commitment for something diminishes over time. This lack of motivation can stem from various factors, such as repetitive tasks, a lack of challenge or growth opportunities, a mismatch between personal values and the work environment, or prolonged periods of stress and pressure. For example, one may be demotivated to continue to consistently go to the gym because they aren’t losing weight like they did at the beginning of their journey.
As motivation dwindles, one may experience a sense of apathy, decreased productivity, and a general feeling of being emotionally and mentally drained. To overcome burnout caused by a lack of motivation, one may need to identify and address the underlying reasons behind the waning enthusiasm to find ways to reignite a sense of passion or purpose, to seek support, set new goals, and re-evaluate priorities.
(Head)Space
Patience is Kindness, Power, Determination
By Roman
Patience is defined as the capacity to accept or tolerate delay, trouble, or suffering without getting angry or upset. It is a virtue that involves restraining impulses, managing frustrations, and maintaining a positive attitude while waiting for desired outcomes and/or progress. Patience involves practicing tolerance, empathy, endurance, and self-control, allowing for thoughtful reflection, careful decision-making, and the ability to navigate setbacks or obstacles with a composed mindset.
Patience is a form of kindness. When people make mistakes, when they are slow to do something, when they don’t live up to your standards, etc. You have a few choices: either you react or you let it go. If you react, usually that will be a negative response out of anger. For example, someone forgot to bring the speaker to the beach so now you won’t enjoy listening to music. Or, you can choose to let it go. Being upset won’t magically make a speaker appear. What’s done is done; you move on. Patience radiates empathy and understanding towards others; it’s an act of compassion and respect for human imperfection.
Patience is a form of power. In a world of instant gratification and quick results, those who possess patience hold a unique advantage: they understand that time can be a powerful ally. It cultivates a sense of inner peace and wisdom, enabling individuals to make better decisions and avoid impulsive actions. For example, someone people willingly want to provoke you to incite a reaction. With patience, one gains the ability to observe, learn, adapt, reflect, and make calculated, deliberate action.
Patience is a form of determination. It’s a commitment to one’s goals through endurance over the long haul by refusing to be permanently discouraged by temporary setbacks. Patience allows for a deep-rooted belief that dreams are attainable through consistent effort and a unwaivering resolve. Patience involves taping in to a “last man standing” mindset to outlast the competition and/or the challenge.
TLDR: patiences pays off
Company of the Week
Replit
Replit is a browser-based integrated development environment (IDE) platform, that not only supports coding but also simplifies app deployment and hosting. The company is a privately held startup based out of San Francisco, that was founded in 2016, and backed by Y.C. (W17).
With Replit, you can easily write code or deploy web applications with a few clicks, and make them accessible to users worldwide. Collaborative features enable real-time feedback and collaboration on deployed apps. It also serves as an excellent teaching platform, allowing educators to create classrooms, assign projects, and provide feedback. Replit's user-friendly design makes it accessible to individuals of all ages and skill levels.
Whether you're an individual developer, startup, or student, Replit provide a hassle-free solution to start coding or showcase your creations.
To date, Replit has raised over $200M, with their most recent round of $97M in April valuing them at $1.1B.
Written by: Vlad Estoup, Keyann Al-Kheder, and Roman Kuittinen-Dhaoui