Leading cryptocurrency exchange Binance has released a statement acknowledging concerns from its community regarding a recent airdrop distribution. The airdrop in question, for the ZKsync token (ZK), was met with criticism surrounding a perceived lack of safeguards against Sybil attacks.
Sybil attacks exploit systems that reward participation by creating a large number of fake accounts to gain an unfair advantage. In the context of airdrops, this can involve users creating multiple accounts to claim more tokens.
According to a recent article on Crypto Briefing, the ZK token distribution program did not include measures to prevent Sybil attacks. This sparked outrage among some Binance users, who felt the system was unfair.
In response to the community's concerns, Binance's announcement acknowledged the ongoing debate and outlined a separate token distribution program to address the issue. Their proposed solution focuses on rewarding users with a history of activity on the platform, excluding those who only signed up to claim the airdrop.
While the specific details of the new program haven't been revealed yet, it appears Binance is attempting to appease its user base and ensure a fairer distribution of the ZK token. The ZKsync Association, responsible for the initial airdrop, previously defended its decision, stating they would "stand by the path" they had chosen.
This incident highlights the challenges associated with airdrop distribution and the importance of implementing robust anti-Sybil attack measures. It remains to be seen how effective Binance's new program will be and whether it will quell the community's concerns.

#Binance #airdrop #zkSync #writetoearn #Cryptoniteuae

🚀 NuLink (NLK) - Enhancing Privacy and Security for Decentralized Applications 🚀
🚀 Let's dive into key features and potential of #NuLink in this captivating thread! 🧵👇
1️⃣ Introduction and Overview: NuLink (NLK) is a cutting-edge cryptocurrency and technology platform designed to enhance privacy and security for decentralized applications. It integrates advanced cryptographic technologies to offer tools and solutions for stakers, DApp builders, and DApp users.
2️⃣ Technology and Feature: NuLink employs several layers of cryptographic technologies, including Proxy Re-Encryption (PRE), Identity-Based Encryption (IBE), and Attribute-Based Encryption (ABE). It ensures secure, privacy-preserving solutions for decentralized applications through its Cryptography, Storage, and Blockchain Layers.
3️⃣ Whitepaper Analysis: NuLink’s core product combines blockchain and cryptography technologies for privacy preservation. Crypto primitives include Proxy Re-Encryption (PRE), Fully Homomorphic Encryption (FHE), and Zero-Knowledge Proof (ZKP). Staking nodes earn NLK tokens by offering privacy services in the Cryptography Layer and decentralized storage in the Storage Layer. NuLink is building privacy-preserving features for Polkadot, Heco, Near, PlatON, and Solana. Supported by Binance Labs, NuLink aims for inter-blockchain features.
4️⃣ Use Case: NuLink’s technology enables secure encrypted NFT trading markets, allowing artists to set up secure private auctions. The NLK token is central to governance, staking, and accessing various platform features.
5️⃣ Team and Leadership: The NuLink team is dedicated to providing advanced security solutions for decentralized applications, backed by prominent investors like Binance Labs, DWF Labs, Poolz, and ViaBTC.
6️⃣ Partnerships: NuLink is developing privacy-preserving features for integration with Polkadot, Heco, Near, PlatON, and Solana, with plans for more collaborations and inter-blockchain features.
7️⃣ Security and Audits: Utilizing Proxy Re-Encryption, Zero-Knowledge Proofs, and Fully Homomorphic Encryption, NuLink ensures data privacy and security across blockchain networks.
8️⃣ Tokenomics: NuLink (NLK) has a total supply of 1 billion NLK. And circulating supply is 60 million NLK tokens.
9️⃣ Exchanges: NLK tokens can be traded on centralized exchanges like Bybit, KuCoin, and Gate.io. The most active trading pair is NLK/USDT on Bybit.
🔟 Recent Developments: Key releases include the NuLink Core Library, API Library, and staking functionalities. The mainnet launch is planned for Q2 2024, integrating all testnet modules and activating on-chain governance.
1️⃣1️⃣ Conclusion: NuLink (NLK) is a promising platform focusing on privacy and security for decentralized applications. With advanced cryptographic technologies, strategic partnerships, and a dedicated team, NuLink is set to revolutionize digital privacy.
🌟 If You find this thread useful Repost it & Follow us for More Latest Crypto Analysis, News, Updates & Crypto Insights @Crypto Simbha 🦁🙏🏻
#CryptoSimbhaGems🦁🏹 #Web3 #Security #zkSync #nulink $ETH $BTC $SOL

In recent news, zkSync Era Block Explorer has shown that the zkSync Era may be experiencing some technical issues. It has been reported that no block has been generated for the past three hours, and as of yet, there has been no official response from the company.

This comes as Avalanche has also been experiencing difficulties producing blocks on several occasions. On March 24, zkSync Era announced the launch of its mainnet, which is one of the major Ethereum Layer 2 solutions.

@azcoinnews

The zkSync Era is a scaling solution that allows for faster and cheaper transactions on the Ethereum network. With the recent launch of its mainnet, users were expecting a reliable and efficient platform to conduct their transactions.

However, the recent technical difficulties have left many users frustrated and concerned about the safety of their funds. The lack of an official response from the company has only added to the uncertainty and speculation.

Fortunately, an official response has been issued, indicating that the team is aware of the problems with the zkSync Era mainnet and is working to resolve them. In the meantime, users have been advised not to initiate transactions and to wait for the mainnet to recover.

The response also reassured users that their funds are safe and that the team is doing everything possible to fix the issues as quickly as possible.

Overall, the technical issues with the zkSync Era mainnet have caused concern among users and raised questions about the reliability of Layer 2 solutions on the Ethereum network. However, the prompt response from the team and their reassurance about the safety of users’ funds should help alleviate some of these concerns.

#zkSync #ETH #Ethereum #azcoinnews #crypto2023

This article was republished from azcoinnews.com