Chainlink

<p><em><strong>Ark Invest and 21Shares have boosted the transparency and security of the ARK 21Shares Bitcoin ETF (ARKB) by integrating Chainlink Proof of Reserve on the Ethereum mainnet.</strong></em></p><h2 id="header-0">Cryptos Headlines Token Airdrop Is Live, Claim Instant 5000 CHT Tokens Worth Of $50 Free On <a href="https://cryptosheadlinestoken.com/index.php/tokenomics/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Screenshot_5.png?fit&#61;1276%2C681&amp;ssl&#61;1" /></p><p>This enables real-time verification of the ETF’s Bitcoin holdings, using data from Coinbase off-chain reserves and Chainlink oracles for on-chain reporting. This move enhances investor confidence and safety. Additionally, Chainlink’s collaboration with Telefónica targets Web3 security issues, particularly addressing SIM Swap attacks through the GSMA Open Gateway.</p><h3 id="ark-invest-and-21shares-integrate-chainlink-proof-of-reserve">ARK Invest and 21Shares Integrate Chainlink Proof of Reserve</h3><p>In a bid to bolster transparency, Ark Invest and 21Shares have implemented Chainlink Proof of Reserve on the Ethereum mainnet for the <a href="https://cryptosheadlines.com/bloomberg-analyst-sec-might-move-up-ark-bitcoin-etf-deadline/" rel="noopener noreferrer nofollow">ARK 21Shares Bitcoin ETF</a> (ARKB). This integration, announced on Feb. 28, enables investors to verify the <a href="https://cryptosheadlines.com/bitcoins-value-drops-after-etf-approval-reaches-34000/" rel="noopener noreferrer nofollow">ETF’s Bitcoin holdings and ensure they fully back its value</a>. Chainlink Proof of Reserve provides public access to the underlying <a href="https://cryptosheadlines.com/bitcoins-historical-cycles-point-to-potential-surge-to-44k-48k-in-70-days/" rel="noopener noreferrer nofollow">Bitcoin reserve and its historical</a> data, fostering greater trust and confidence among investors.</p><p>The mechanism leverages off-chain reserves data obtained directly from Coinbase, coupled with on-chain reporting facilitated by Chainlink oracles. Ophelia Snyder, co-founder and President at 21 Shares US, expressed enthusiasm about the collaboration, emphasizing the unmatched level of insight and safety it offers for ARKB investors. Snyder stated, “This collaboration allows us to offer an unmatched level of insight and safety for our investors’ holdings for ARKB, reinforcing 21Shares’ commitment to leading the way in secure, transparent asset management.”</p><p>This initiative toward transparency follows a similar move by Bitwise, another Bitcoin ETF issuer, which shared the on-chain address for its BTC holdings in January. Bitwise’s transparency garnered praise from industry experts, who urged other ETF issuers to follow suit, highlighting the growing importance of transparency in the cryptocurrency investment landscape.</p><p><a href="https://cryptosheadlines.com/defi-surges-as-uniswap-leads-with-70-price-rally-outshining-ai-tokens/" rel="noopener noreferrer nofollow">Also Read:   DeFi Surges as Uniswap Leads with 70% Price Rally; Outshining AI Tokens</a></p><h3 id="chainlink-proof-of-reserve-enhances-transparency-for-ark-21shares-bitcoin-etf">Chainlink Proof of Reserve Enhances Transparency for ARK 21Shares Bitcoin ETF</h3><p>Johann Eid, the Chief Business Officer at Chainlink Labs, highlighted the significance of Chainlink Proof of Reserve, emphasizing its role in enhancing the security and transparency of the ARK 21Shares Bitcoin ETF. Eid stated, “Chainlink Proof of Reserve is not just enhancing the security and transparency of the <a href="https://cryptosheadlines.com/ark-invest-enters-ethereum-futures-etf-race-amid-bitcoin-etf-delay/" rel="noopener noreferrer nofollow">ARK 21Shares Bitcoin ETF</a>, but also empowering institutions and market participants with the confidence to actively engage with on-chain finance.”</p><h2 id="header-1">Cryptos Headlines Token Airdrop Is Live, Claim Instant 5000 CHT Tokens Worth Of $50 Free On <a href="https://cryptosheadlinestoken.com/index.php/tokenomics/" rel="noopener noreferrer nofollow">CryptosHeadlinesToken.com</a></h2><p><img src="https://i0.wp.com/cryptosheadlines.com/wp-content/uploads/2024/02/Screenshot_5.png?fit&#61;1276%2C681&amp;ssl&#61;1" /></p><p>Since the US Securities and Exchange Commission (SEC) <a href="https://cryptosheadlines.com/chances-of-bitcoin-etf-approval-high-at-90-as-sec-nears-january-10-deadline/" rel="noopener noreferrer nofollow">approved several Bitcoin ETFs for trading in January</a>, there has been a notable positive trend and widespread adoption of these investment vehicles. Among the <a href="https://cryptosheadlines.com/spot-bitcoin-etf-launch-blackrock-ark-21shares-join/" rel="noopener noreferrer nofollow">launched spot Bitcoin ETFs</a>, ARKB has emerged as one of the top performers. However, it currently trails behind <a href="https://cryptosheadlines.com/blackrocks-ishares-bitcoin-etf-disappears-and-reappears-on-dtcc-site/" rel="noopener noreferrer nofollow">BlackRock’s iShares Bitcoin</a> Trust (IBIT) and Fidelity’s Wise Origin Bitcoin Trust (FBTC) in terms of assets under management (AuM). With approximately 33,000 BTC in holdings, valued at around $2 billion, ARKB continues to attract <a href="https://cryptosheadlines.com/fancy-crypto-unleashes-new-income-strategies-for-crypto-investors/" rel="noopener noreferrer nofollow">investor attention in the evolving crypto</a> landscape.</p><h3 id="enhancing-web3-security-chainlink-s-collaboration-with-telef-nica">Enhancing Web3 Security: Chainlink’s Collaboration with Telefónica</h3><p>Chainlink’s partnership with <a href="https://cryptosheadlines.com/arrival-of-cryptocurrency-etfs-from-ark-invest-and-21shares-anticipated-next-week/" rel="noopener noreferrer nofollow">Ark Invest and 21Shares</a> marks a significant step towards enhancing transparency and security in the crypto space. However, this isn’t the only major collaboration on Chainlink’s agenda. Earlier this month, the global telecommunications giant Telefónica teamed up with Chainlink to address security challenges in the Web3 domain, particularly focusing on the rising threat of “SIM Swap” attacks and other vulnerabilities.</p><p><a href="https://cryptosheadlines.com/shiba-inu-community-pushes-for-dedicated-cryptocurrency-etf/" rel="noopener noreferrer nofollow">Also Read:   Shiba Inu Community Pushes for Dedicated Cryptocurrency ETF</a></p><p>The partnership aims to bolster the security framework for smart contracts by leveraging the GSMA Open Gateway, which includes over 1,000 mobile operators and businesses. Through this collaboration, Application Programmable Interfaces (APIs) will be <a href="https://cryptosheadlines.com/binance-introduces-web3-wallet-at-blockchain-week-2023/" rel="noopener noreferrer nofollow">introduced to integrate telecom technologies with the Web3</a> ecosystem, enhancing the functionality and security of Web3 applications.</p><p>A key aspect of this initiative is the deployment of the first GSMA Open Gateway API, named SIM SWAP, in Brazil by Telefónica. This API will provide an additional layer of security to <a href="https://cryptosheadlines.com/european-blockchain-sector-fights-against-rules-impacting-smart-contracts/" rel="noopener noreferrer nofollow">blockchain transactions by enabling smart contracts</a> to verify if a device’s SIM card has undergone any unauthorized changes.</p><p><strong>Addressing SIM Swap Attacks in Web3:</strong> SIM Swap attacks, a prevalent form of cyber attack involving identity theft and impersonation of financial account holders, have become increasingly common in the Web3 industry. Notably, such attacks were highlighted in the $400 million theft from FTX during its collapse in 2022.</p><p><strong>Setting a New Security Standard:</strong> Through their collaboration, Telefónica and Chainlink are pioneering a new standard for security in the digital era. By offering <a href="https://cryptosheadlines.com/yes-bank-integration-enhances-digital-rupee-with-upi/" rel="noopener noreferrer nofollow">enhanced protection mechanisms for blockchain transactions and integrating</a> telecommunication technologies into the blockchain space, they are setting a precedent for greater security and reliability in Web3 applications.</p><h3 id="bridging-blockchain-and-real-world-data-the-role-of-chainlink">Bridging Blockchain and Real-World Data: The Role of Chainlink</h3><p>Chainlink stands as a cornerstone in the blockchain landscape, offering a decentralized oracle network designed to securely connect <a href="https://cryptosheadlines.com/justin-sun-transfers-4-3-million-worth-of-makerdao-tokens-to-binance-reveals-blockchain-data/" rel="noopener noreferrer nofollow">blockchain platforms with external data</a> sources. Its primary mission is to address a critical challenge faced by smart contracts: accessing real-world data in a secure and reliable manner. By serving as a bridge for off-chain <a href="https://cryptosheadlines.com/pyth-networks-live-market-data-on-hedera-boost-for-hbar/" rel="noopener noreferrer nofollow">data sources such as financial markets</a> and weather forecasts, Chainlink enables smart contracts to operate based on accurate, real-time information, expanding their potential applications across various sectors.</p><p><a href="https://cryptosheadlines.com/3-whales-transfer-significant-altcoin-amounts-to-coinbase-simultaneously/" rel="noopener noreferrer nofollow">Also Read:   3 Whales Transfer Significant Altcoin Amounts to Coinbase Simultaneously</a></p><p>At the heart of Chainlink’s ecosystem lies its native digital currency, LINK. This token plays a vital role in the network’s economics by incentivizing node operators who facilitate data processing and validation. Moreover, LINK serves as collateral to secure smart contracts, ensuring the integrity and reliability of <a href="https://cryptosheadlines.com/bitcoin-holders-in-profit-after-11-months-according-to-blockchain-data/" rel="noopener noreferrer nofollow">data fed into the blockchain</a>.</p><p>Chainlink distinguishes itself within the blockchain space through its singular focus on data integrity and security, despite being built on the <a href="https://cryptosheadlines.com/trons-trx-token-launched-on-ethereum-blockchain-price-surge-12/" rel="noopener noreferrer nofollow">Ethereum blockchain’s</a> robust infrastructure. Its commitment to transparency and community involvement is evident in its open-source nature, inviting developers and enthusiasts to contribute to its ongoing evolution and growth.</p><p>As a specialized tool, Chainlink enhances the functionality of <a href="https://cryptosheadlines.com/visa-to-work-on-creating-digital-money-for-brazil-using-blockchain-technology/" rel="noopener noreferrer nofollow">blockchain technology</a> by providing a secure, reliable bridge between on-chain and off-chain worlds. This feature makes it indispensable for the development of complex, real-world blockchain applications, <a href="https://cryptosheadlines.com/fantom-introduces-gas-monetization-program-to-empower-developers/" rel="noopener noreferrer nofollow">empowering developers</a> to create innovative solutions with confidence in the integrity of their data sources.</p><p><em><strong>Important:</strong> Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.</em></p>

ARKB and Chainlink Elevate ETF Transparency

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