Bitcoin Could Hit $180K by 2025, Predicts TYMIO Founder

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Table of Content

In today edition we talk about

• Quantum-Proofing Ethereum: Hash-Based Zero-Knowledge Tech Leads the Way

• Tornado Cash Developer Alexey Pertsev Faces Extended Detention Amid Privacy Tech Concerns

• Bitcoin Could Hit $180K by 2025, Predicts TYMIO Founder

Quantum-Proofing Ethereum: Hash-Based Zero-Knowledge Tech Leads the Way

Dr. XinXin Fan, head of cryptography at IoTeX, has proposed a groundbreaking solution to protect Ethereum from quantum threats. In a recent award-winning research paper, Dr. Fan advocates for hash-based zero-knowledge proofs, such as ZK-Starks, to secure blockchain systems like Ethereum against quantum computing vulnerabilities.

Current elliptical curve digital signature algorithms (ECDSA), widely used in blockchains, are susceptible to quantum attacks. Dr. Fan’s method involves attaching quantum-safe zero-knowledge proofs to transactions, allowing users to retain their existing wallets while enhancing security. This approach balances usability and security, ensuring a smooth transition to post-quantum standards.

The urgency for such measures has increased following the National Institute of Standards and Technology's (NIST) recommendation to migrate legacy systems to quantum-resistant technologies by 2035. While recent quantum experiments, like one from Shanghai University, raised alarms, experts clarified that quantum computers still lack the capability to breach modern encryption standards, which use much longer keys than those tested.

Dr. Fan's research highlights a user-friendly path to prepare blockchain systems for the quantum era, ensuring resilience without disrupting current infrastructure.

Tornado Cash Developer Alexey Pertsev Faces Extended Detention Amid Privacy Tech Concerns

The pre-trial detention of Tornado Cash developer Alexey Pertsev has been extended, sparking heightened legal concerns for creators of privacy-focused blockchain protocols. Pertsev, who faces charges related to money laundering, expressed frustration over the decision, noting it impedes his preparation for an appeal.

Tornado Cash, a non-custodial cryptocurrency mixer, has drawn increasing regulatory scrutiny. Despite being sanctioned in 2022, the platform saw a 45% surge in deposits during the first half of 2024, totaling $1.8 billion. Lawmakers in the U.S. have pressed for action on its continued operations, citing its use in illicit transactions.

Pertsev was convicted in May 2023 by a Dutch court for laundering $1.2 billion through the protocol, despite his argument that the decentralized system cannot be held liable for user actions. The court countered, stating more robust measures could have been implemented to prevent misuse.

This case raises critical issues for the future of privacy-preserving technologies. Legal experts emphasize the need for these protocols to balance privacy features with compliance to avoid similar challenges.

Bitcoin Could Hit $180K by 2025, Predicts TYMIO Founder

Georgii Verbitskii, founder of the decentralized finance platform TYMIO, forecasts Bitcoin's price could reach $180,000 by the end of 2025. In a statement to Cointelegraph, he anticipates Bitcoin climbing to $100K–$120K by early 2025 before potentially doubling during the bull run.

Verbitskii attributes this growth to increasing demand and reduced Bitcoin supply due to the April 2024 halving, further halvings, and lost coins. These factors, he predicts, could create a supply shock, amplifying Bitcoin's scarcity and volatility.

Bitcoin exchange reserves have already hit historic lows, with November 2024 seeing heightened demand driven by macroeconomic shifts and the U.S. Presidential election. Verbitskii advises traders to manage risks by diversifying, using limit orders, and leveraging options to navigate potential market downturns.

Other experts, like Onramp Bitcoin’s Jesse Myers, agree that diminishing block subsidies are likely to catalyze a Bitcoin supply crisis, pushing prices toward the six-figure mark in the coming years.

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