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Having delved into the cryptocurrency field for many years, I am often asked whether this market has changed and whether it has become easier to operate. There is no doubt that this industry is indeed constantly evolving. Years have passed, and we have witnessed many changes. However, the most significant change is not in the cryptocurrencies themselves, but in the methods used to attract investors. These methods have become increasingly refined and complex. From obscure small projects to highly anticipated large plans, from unknown individuals to "celebrities" renowned within the circle, the methods of harvesting have been continuously upgraded. This evolution reflects the maturity of the market, while also highlighting the need for investors to be more cautious and wise. Despite appearing glamorous on the surface, the core essence has not changed. Investors still need to be vigilant, as risks always exist regardless of how the project is packaged. In this rapidly changing market, maintaining a clear mind and the ability to think independently is more important than ever. After all, in the cryptocurrency world, the only constant may be change itself.

In the development of Blockchain and encryption technology, zk-SNARKs has always been a highly followed but challenging field. Traditional zk-SNARKs systems often encounter performance bottlenecks, limiting their practicality in large-scale applications. However, through innovative proof compression techniques and parallel verification methods, a new solution has emerged, bringing breakthrough progress for efficient scaling. The core of this new technology lies in transforming complex computational processes into composable modules. This innovation enables applications to achieve strong security verification without sacrificing performance. For large-scale applications that need to handle vast amounts of data and frequent transactions, this optimization is crucial. The architectural design of the new technology supports cross-chain operations and multi-scenario applications, greatly enhancing the ecosystem's ability to handle high-frequency trading and complex data verification needs. At the same time, a new token has been introduced as the core of the economic and governance mechanism, ensuring that the verification network maintains an incentive balance even under high load conditions. This innovative approach not only achieves the coexistence of high performance and security but also ensures the sustainable scalability of the network through the design of economic models. It demonstrates how to break performance limitations while maintaining security, providing valuable experiences and insights for the entire industry. Looking to the future, this new technology is expected to become a benchmark for performance optimization and security assurance in the industry. The methodology behind it may guide a new round of technology standards formulation, promoting the entire zk-SNARKs field to develop towards greater efficiency and security. This will not only bring innovation to existing Blockchain applications but may also give rise to entirely new application scenarios, opening up new possibilities for the future of Web3.

Recently, the public security organs of Hubei Province successfully solved a major online gambling case involving Virtual Money, which is referred to as China's "first case of Virtual Money." The case began in July 2021 when the Ji Shan Police Station of the Sha Yang County Public Security Bureau received a report of online gambling. After a two-year investigation, the police discovered that the amount involved in the case reached 400 billion yuan, with more than 50,000 participants. The uniqueness of the case lies in the fact that all gambling transactions and subsequent money laundering activities were conducted through Virtual Money, while the main criminals were located abroad. Through in-depth analysis of a vast amount of trading data, the task force successfully identified multiple groups of suspects, including core team members, gambling agents, recharge agents, and intermediary agent teams. Law enforcement agencies took decisive action and froze virtual money worth approximately over 1 billion yuan. At the end of 2021 and the beginning of 2022, police launched operations in multiple provinces, arresting more than 130 suspects. In October 2022, the Shayang County Court issued a ruling to legally confiscate part of the frozen Virtual Money, marking this case as the first in the country to confiscate Virtual Money through a court ruling. In December 2022, the Hubei Public Security Department launched a transnational pursuit operation, successfully capturing and repatriating three major overseas suspects, further demonstrating the determination and capability of law enforcement agencies to combat cross-border crime. This case not only reveals the application of Virtual Money in illegal activities but also provides important references for the investigation and trial of similar cases in the future. It reflects the enhanced capabilities of law enforcement agencies in dealing with new types of cybercrime, while also reminding the public to raise awareness of the risks associated with Virtual Money.