Ethereum scaling protocols drive zero-knowledge proof use: Finance Redefined
The top 100 DeFi tokens had a mixed week, with most of the tokens trading in a narrow range before surging on July 13 courtesy of Ripple’s partial win in its court battle with the SEC. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you the most significant developments from the past week. This week, Finance Redefined looks at the growing popularity of zero-knowledge proof-based scalable solutions. Zero-knowledge rollups (ZK-rollups) technology has gained a lot of traction over the past year thanks to its increased use in the Ethereum ecosystem. Bug bounties are seen as a great reward system for white hat hackers to weed out bugs in the DeFi ecosystem, which often fall prey to exploits. However, recent analysis suggests these programs have mixed results. After a series of exploits on the Multichain protocol over the past couple of weeks, the founder of Connext proposed a “Sovereign Bridged Token” standa...