SAN FRANCISCO, Dec. 4, 2024 /PRNewswire/ — sCrypt, a full-stack Web3/blockchain development platform, and Starkware, a STARK-based solution for the blockchain industry, have built a demo bridge covenant on Bitcoin. This proof-of-concept implementation aims to be the foundation of a production-grade bridge for the Starknet Layer 2 (L2) network.

The bridge allows multiple deposit or withdrawal request transactions to be batched into a single root transaction and merged into the central bridge covenant, updating its state, which consists of a set of accounts organised in a Merkle tree.

The solution leveraged the sCrypt domain-specific language (DSL) to write the implementation, and the bridge consists of a recursive covenant Bitcoin script. Here, ‘covenant’ means that the locking script can enforce conditions on the spending transaction, and ‘recursive’ means that the rules above are sufficiently robust to enable persistent logic and state on-chain (a requirement for any on-chain smart contract).

Xiaohui Liu, Founder and CEO at sCrypt, said: “This is a huge breakthrough: the first-ever bridge that does not rely on trusting any intermediatory on Bitcoin, using OP_CAT. It opens the door to trustless bridging bitcoin to L2, opening new possibilities for Bitcoin utilization and adoption previously impossible. It is also a foundation for a ZK-STARK rollup on Bitcoin.”

In this proof-of-concept implementation, sCrypt developed a bridge covenant on OP_CAT-enabled Bitcoin using the sCrypt-embedded DSL. The bridge leverages recursive covenants and Merkle trees to efficiently batch and process deposit and withdrawal requests while maintaining the integrity and security of user accounts by designing and implementing four smart contracts — DepositAggregator, WithdrawalAggregator, Bridge, and WithdrawalExpander. 

sCrypt provided a method to manage stateful interactions on Bitcoin, facilitating interoperability with Layer 2 networks like Starknet. sCrypt and Starkware’s work establishes a technical foundation for building production-grade bridges, potentially enhancing scalability and functionality within the Bitcoin ecosystem.

About sCrypt:

sCrypt is a UTXO-blockchain development platform that offers a suite of tools and infrastructure to enhance and accelerate the development process of decentralised applications (dApps). It provides a rich set of APIs and software development kits (SDKs) that simplify blockchain interactions, such as querying blockchain data, sending transactions, issuing tokens, and developing smart contracts. It specialises in UTXO blockchains and supports multiple of them, such as Bitcoin and Bitcoin SV.

View original content:https://www.prnewswire.co.uk/news-releases/scrypt-and-starkware-brings-opcat-enabled-bitcoin-a-proof-of-concept-302322470.html

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LONDON, Dec. 4, 2024 /PRNewswire/ — China’s dominance in Rare Earth metals is hard to ignore, But for one lesser-known metal that fuels the U.S. defense sector, China’s grip is so tight that the U.S. now finds itself desperately scrambling to discover and develop friendly new resources before supply is squeezed to nothing. Companies mentioned in this release include:  Lockheed Martin (NYSE: LMT), Northrop Grumman (NYSE: NOC), Raytheon Technologies (NYSE: RTX), Huntington Ingalls Industries (NYSE: HII), NioCorp Developments Ltd. (NASDAQ: NB).

This rare metal saved the Allies in WWII, and it has very suddenly reclaimed its critical status on three continents, leading to a recent 200%+ surge in spot prices. 

Meet antimony, the most important metal you’ve never heard of.

During WWII, antimony was vital for producing ammunition, tungsten steel, and hardening lead bullets. The U.S. supplied 90% of its own needs back then. Not anymore.

America’s enemies control almost all the world’s antimony reserves. And now they are weaponizing it. And despite predictions of wild price increases of over 300% by January 2025, there’s light at the end of the tunnel for the U.S. and its allies, as a group of miners step in to boost supply in Australia, the European Union and North America.

“This is it. The world is already at war, and China has cut off North America’s main antimony supply,” says Military Metals Corp. CEO Scott Eldridge, a 17-year veteran of the Canadian mining sector.

Military Metals Corp. (MILI.CN; MILIF.QB) has been busy scooping up antimony assets this year and is planning to help North America get back into the antimony game quickly by utilizing past producing mines in North America and Europe with large historical resources. At the moment, China accounts for around half of all global antimony production, and as of the end of last year, it supplied 60% of U.S. antimony imports. 

As for the mines falling outside China’s control, many of them send their antimony to China for processing–meaning China’s hands are on most of the world’s antimony supply. But two historical antimony projects recently acquired by Canada-based Military Metals Corp. (MILI.CN; MILIF.QB) could put the United States on more solid critical metals footing.

Right as demand is soaring at an all-time high. 

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The U.S. Army, for one, is on an artillery shell production binge, seeking to ramp up output from 4,000 units/month to 100,000 units/month by the end of the year. They’re preparing for war. And it all requires antimony, and China is blocking supply with export restrictions implemented in September this year. 

The antimony supply squeeze is in full force. 

And a ~200% surge in antimony prices “has been almost entirely supply driven”, says CRU analyst Chetan Soni. “The surge has been almost entirely supply driven. It is not clear when the supply constraints will improve,” Soni told Reuters in May of this year. 

Military Metals has been busy adding key antimony assets to its portfolio in North America and the European Union. These acquisitions “strategically position” the company as a “leading explorer and developer of antimony,” the company said in a press release.

The Race for ‘Friendly’ Antimony Supplies

Military Metals plans to help put North America back on the global antimony map.

Anticipating a global supply crunch and North America’s need to free its national security from the hands of China, the team behind Military Metals. has moved quickly on this opportunity. 

With a foothold in Canada and a clear strategy to develop secure North American sources of antimony, the company is banking on the increased attention that the U.S. government and private sector are giving to securing critical resources.

In Canada, it has acquired the West Gore Antimony Project–one of Canada’s largest historical producing antimony mines. Harboring both gold (10.6 gpt) and antimony (3.4%), the company acquired West Gore in late September this year, and then moved to consolidate more territory around the project on October 24, rapidly expanding its footprint. 

Canada’s wealth of mineral resources, coupled with its rich mining history and robust environmental standards, positions it as a prime location for antimony miners. Its assets in the antimony space go beyond Nova Scotia, and across the Atlantic. 

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Military Metals Corp. (MILI.CN; MILIF.QB) has also been scooping up antimony resources in the European Union, in Slovakia, where it recently announced it has purchased one of Europe’s largest antimony deposits in Slovakia with historical reserves – the past-producing Trojarova Project. 

Trojarova was shuttered in the ’90s due to the waning post-Cold War demand–well before its resources were exploited. Its historical resource is more than 60,998 tons of antimony, worth over$2 billion at today’s spot prices, according to documentation provided by Military Metals Corp. 

With these acquisitions, says Eldridge, the company anticipates that the robust mining infrastructure in Slovakia aligns perfectly with the European Union’s Critical Raw Materials Act, opening avenues for potential EU funding as it advances these projects toward production.

From Batteries to Bullets

Antimony is positioned to become even more sought after as the race for military resources heats up—especially between the West and China. 

Not only is antimony crucial for strengthening alloys and producing everything from bullets, nuclear weapons, explosive missiles, solar panels to batteries, but its demand is skyrocketing as nations scramble to secure supply chains for critical resources. The U.S. military relies heavily on antimony, yet the majority of the world’s supply is controlled by China. The conditions are ripe for a breakout.

Antimony’s strategic value only became widely apparent recently when Washington included it on its list of critical minerals essential to national security. 

Since then, prices have surged. 

Antimony prices have tripled since earlier this year from $12,000 per ton to over $38,000. 

And this may just be the beginning as the supply squeeze pushes on, driven by global warfare, hoarding, Chinese restrictions, and declining reserves. 

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Given the ever-present tension between the U.S. and China, control over antimony is about more than just economics—it’s about geopolitics and military readiness.

In March 2024, the European Union allocated 500,000,000 Euro’s under the Act in Support of Ammunition Production (ASAP) to boost output capacity to 2 million shells annually by the end of 2025. But the Western militaries have a major problem.

Military Metals (MILI.CN; MILIF.QB) is keenly aware of this, and they’re stepping up to the plate with an ambitious plan to become a major North American and European antimony player. 

Other companies playing a key role in America’s security: 

Lockheed Martin (NYSE: LMT)

Lockheed Martin is a global security and aerospace company that employs approximately 114,000 people worldwide. It is principally engaged in the research, design, development, manufacture, integration, and sustainment of advanced technology systems, products, and services. Lockheed Martin is the largest defense contractor in the world, and its products play a vital role in the defense of the United States and its allies. Some of its most well-known products include the F-35 fighter jet, the C-130 Hercules transport aircraft, and the THAAD missile defense system. Lockheed Martin is also a major player in the space industry, and it is currently developing the Orion spacecraft, which is designed to carry astronauts to Mars. 

In recent years, Lockheed Martin has been focused on developing new technologies like AI and machine learning to meet the evolving challenges of the 21st century. This includes investing in areas such as hypersonic weapons, artificial intelligence, and cyber security. Lockheed Martin is also committed to expanding its international business, and it is currently pursuing opportunities in markets such as Europe, the Middle East, and Asia. The company’s focus on innovation and growth is essential to its long-term success.

Northrop Grumman (NYSE: NOC)

Northrop Grumman is a leading global security company providing innovative systems, products, and solutions in autonomous systems, cyber, C4ISR, space, strike, and logistics and modernization to customers worldwide. With approximately 90,000 employees, Northrop Grumman is a major player in the defense and aerospace industry. The company is known for its expertise in developing cutting-edge technology, including stealth aircraft, unmanned aerial vehicles (UAVs), and missile defense systems. Northrop Grumman is a key partner to the U.S. government and its allies, providing essential capabilities to maintain national security. 

Northrop Grumman is focused on delivering value to its shareholders through a combination of organic growth and strategic acquisitions. The company is also committed to maintaining a strong balance sheet and returning capital to shareholders through dividends and share repurchases. Northrop Grumman’s financial strength and commitment to shareholder value make it an attractive investment opportunity.

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Raytheon Technologies (NYSE: RTX)

Raytheon Technologies is an aerospace and defense company that provides advanced systems and services for commercial, military, and government customers worldwide. Formed in 2020 through the merger of Raytheon Company and United Technologies Corporation, Raytheon Technologies has approximately 180,000 employees and is headquartered in Waltham, Massachusetts. The company operates through four segments: Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space, and Raytheon Missiles & Defense. 

Raytheon Technologies plays a vital role in the global aerospace and defense industry. The company’s products and services help to ensure the safety and security of people around the world. Raytheon Technologies is also a major contributor to the U.S. economy, supporting thousands of jobs across the country. The company’s continued success is important to the future of the aerospace and defense industry.

Huntington Ingalls Industries (NYSE: HII)

Huntington Ingalls Industries is America’s largest military shipbuilding company and a provider of professional services to partners in government and industry. HII, with approximately 42,000 employees, designs, builds, and maintains nuclear-powered aircraft carriers and submarines, and provides after-market services for military ships around the globe. Huntington Ingalls also provides mission-critical national security solutions to government and commercial customers across the globe. 

Huntington Ingalls Industries is the sole builder of aircraft carriers for the U.S. Navy and one of only two companies that build nuclear-powered submarines. The company’s shipbuilding expertise is critical to the U.S. Navy’s ability to maintain its global presence and protect national interests. Huntington Ingalls is also a major provider of technical and management services to the U.S. government.

NioCorp Developments Ltd. (NASDAQ: NB)

NioCorp Developments is focused on developing the Elk Creek Superalloy Materials Project in Nebraska, which is expected to be a significant source of niobium, scandium, and titanium. Niobium is a critical material used in the production of high-strength steel alloys, which are essential for the construction of military vehicles, aircraft, and infrastructure. Scandium is used in advanced aluminum alloys for aerospace applications, and titanium is a crucial material for aerospace and defense applications due to its strength, lightness, and corrosion resistance.

NioCorp’s Elk Creek project has the potential to establish a domestic supply of these critical minerals, reducing reliance on foreign sources and strengthening the U.S. defense industrial base. By securing access to these materials, the U.S. can ensure the production of advanced military equipment and maintain its technological edge in the defense sector.
By. Michael Kern

**IMPORTANT! BY READING OUR CONTENT YOU EXPLICITLY AGREE TO THE FOLLOWING. PLEASE READ CAREFULLY**

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Forward-Looking Statements

This publication contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. The forward-looking statements in this publication are based on current expectations and assumptions about future events, geopolitical developments, trade policies, market conditions, the company’s strategic initiatives to address the critical shortage of antimony, and current expectations, estimates, and projections about the industry and markets in which the company operates.  Factors that could change or prevent these statements from coming to fruition include, but are not limited to, the impact of the recent U.S. election on various industries and specific companies, changes in government policies, market conditions, regulatory developments, geopolitical events and the company’s ability to successfully acquire and develop new antimony resources and fluctuations in antimony prices. The forward-looking information contained herein is given as of the date hereof and we assume no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.

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View original content:https://www.prnewswire.co.uk/news-releases/from-bullets-to-batteries-antimonys-role-in-national-security-302321583.html

HAMBURG, Germany and LAGOS, Nigeria, Dec. 4, 2024 /PRNewswire/ — Over 64 million Nigerians now conduct their banking transactions through accounts safeguarded by advanced biometric technology. This cutting-edge solution was developed by DERMALOG, Germany’s leading manufacturer of biometric identification systems.

In 2015, DERMALOG implemented a biometric system for 23 Nigerian banks and the country’s central bank, enabling customers to register their accounts using fingerprint and facial recognition. By verifying identity through biometric features, subsequent transactions, such as deposits and withdrawals, can be completed quickly and securely.

The identity verification system developed by DERMALOG is deployed nationwide in Nigeria. It plays a crucial role in combating fraud in the financial services sector and protecting account holders from unauthorized access to their savings. Additionally, the solution simplifies access to financial services for Nigerian citizens, marking a substantial stride towards greater financial inclusion.

“Over the past decade, our innovative technology has made a vital contribution to enhancing security in Africa’s largest economy. Our collaboration with the Nigerian banking sector is a prime example of how biometrics can streamline access to essential everyday services while significantly improving security,” said Günther Mull, CEO of DERMALOG.

DERMALOG is Germany’s pioneer in biometrics and the country’s largest manufacturer of biometric systems. Founded in 1995, the company develops fingerprint, facial, and iris recognition identification solutions. DERMALOG’s technology is now used worldwide in more than 100 countries by 260 governmental authorities and companies for applications such as border control, ID issuance and banking services.

Picture is available at AP.

Caption: In 2015, DERMALOG implemented a biometric system for 23 Nigerian banks and the country’s central bank, enabling customers to register their accounts using fingerprint and facial recognition.

Press contact:
Sven Böckler 
Media Relations
DERMALOG Identification Systems GmbH
+49 (0) 40 13 227 0
[email protected]
www.dermalog.com 

View original content:https://www.prnewswire.co.uk/news-releases/worlds-largest-biometric-system-for-banks-by-dermalog-protects-the-accounts-of-over-64-million-customers-302322394.html

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