Private transaction verified on Byzantium testnet

A private transaction has been just verified on Ethereum's Byzantium testnet
20 September 2017   1553

The effort to bring the privacy features of Zcash to Ethereum took a step forward today during testing for the upcoming Byzantium upgrade, as coindesk.com reports.

zkSNARK is a zero-knowledge succinct non-interactive arguments of knowledge, which is used to prove that data is valid without actually revealing what that data is. It is claimed that the technology sits at the heart of the Zcash network, and recent months have seen developers moving to integrate the privacy tech into Ethereum.

Thus, today, the zkSNARK part of a Zcash transaction was verified on the Byzantium testnet. While only a trial, the development is a critical step toward bringing that kind of functionality to the public ethereum network.

What is missing after that is basically everything that was missing on top of the Ethereum Virtual Machine in the early times of Ethereum: We need practical implementations of all the other components of a zkSNARK system (apart from the verification).
 

Christian Reitwiessner
Leading zkSNARKs developer for Ethereum

According to coindesk.com, testing on Byzantium is expected to continue into October. Byzantium's formal introduction will then introduce the gas-subsidised pairing checks and elliptic curve operations that make this kind of verification possible. This means that once Byzantium becomes the law of the land, a cryptographically privatized transaction can be verified on the network. 

Crypto Investor to File Lawsuit Against AT&T

Michael Terpin believes that AT&T helped scammers to still his $24M worth crypto
16 August 2018   120

In the Los Angeles District Court, a 69-page lawsuit was filed by BitAngels founder Michael Terpin against the American telecom giant AT&T. Terpin claims that the operator assisted fraudsters in "stealing digital personal data" from the account on his smartphone, which is why he lost $ 24 million in cryptocurrency, according to an official release.

According to Terpin, for seven months, there were two hacks. Initially, an attacker got access to his phone number without providing a password or correct identification data. Later, the phone number was used to steal crypto.

AT&T’s studied indifference to protecting its customers’ privacy and financial assets is a metastasizing cancer, threatening hundreds of millions of unsuspecting AT&T’s customers. Our client had no idea when he initially signed up, nor when later he was promised the highest level of security for his account, that low-level retail employees with access to AT&T records, or people posing as them, can be bribed by criminals to override every system that AT&T advertises as unassailable.
 

Pierce O’Donnell
Lead counsel for Terpin in this complaint

Michael Terpin requires AT & T to pay him $ 224 million - $ 200 million for moral damages and $ 24 million for actual theft.