zk-STARK is short for “zero-knowledge scalable transparent argument of knowledge.” It was developed by Eli-Ben Sasson, a professor at the Technion-Israel Institute of Technology. Understanding about zk-STARK zk-STARK stands for “zero-knowledge scalable transparent argument of knowledge.” It was developed by Eli-Ben Sasson, a professor at the Technion-Israel Institute of Technology. Unlike zk-SNARKs, which need a
A consumption tax is basically a tax you pay when you buy something, whether it’s a product or a service. These taxes can show up as sales taxes, tariffs, excise taxes, and other types of taxes on what you consume. It can mean a whole system where people are taxed based on their consumption levels
Zk-rollup is a layer-2 scaling solution aimed at boosting the transaction capacity of blockchain networks while keeping security intact. It works by grouping or “rolling up” numerous off-chain transactions into one single transaction, which is then verified and logged on the main chain. This process significantly cuts down the data that needs to be stored
A luxury tax is a type of sales tax or extra charge that applies only to specific goods or services considered non-essential or primarily for the ultra-rich. This tax can be calculated as a percentage of the total purchase price, or as a percentage of the amount that exceeds a certain threshold. Learn more about
Keeta is a Delegated Proof of Stake (dPoS) blockchain that uses a Directed Acyclic Graph (DAG) data structure. DAGs are a breakthrough seen in other high-performance blockchains like Sonic (previously known as Fantom), Avalanche, and Sui. These DAGs enhance the speed of parallel transaction processing and boost overall blockchain performance, indicating that Keeta can compete
A luxury good isn’t essential for survival, but it’s seen as super desirable in a culture or society. When someone’s wealth or income goes up, the demand for luxury goods tends to rise. Generally, the more a person’s income increases, the more they tend to spend on luxury items. Because it comes with a hefty
The Financial Action Task Force (FATF) is an international body that establishes worldwide standards to fight against money laundering, terrorist financing, and various financial crimes. Established in 1989, FATF is essential in influencing regulations for the global financial landscape—including the fast-evolving cryptocurrency sector. With the rise in popularity of digital assets, FATF has broadened its
A Veblen good is something that people want more of when the price goes up, mainly because it’s seen as exclusive and a status symbol. This is the opposite of what usually happens, where demand drops as prices increase. So, a Veblen good actually has a demand curve that slopes upwards, unlike the usual downward-sloping
Counter-Terrorist Financing (CTF) involves the laws, regulations, and strategies aimed at identifying, preventing, and fighting against the use of financial systems to fund terrorism. In the realm of cryptocurrency, CTF is all about preventing terrorist organizations from utilizing cryptocurrencies to transfer, conceal, or gather funds without detection. Because of its borderless and pseudonymous characteristics, crypto
A Giffen good is a basic, non-luxury item that goes against typical economic and consumer demand principles. When the price of Giffen goods goes up, demand actually increases, and when the price goes down, demand decreases. This leads to an unusual upward-sloping demand curve in econometrics, which is the opposite of the usual downward-sloping demand