The ARC Token Whitepaper — Circle's Coordination Asset Read Against the Arc Node

Circle's ARC whitepaper proposes staking, fee-to-ARC conversion and burn for Arc. The live chain credits USDC fees to the proposer and burns nothing.

2026, Sep 25   —  19 minute read

A Test That Could Never Pass — An Aztec Failure, the Explanation That Fitted, and the One That Was True

An Aztec test failed on a tagging-secret assertion. The obvious explanation fitted every symptom and was wrong: the chain had never advanced at all.

2026, Sep 23   —  17 minute read

Cardano Smart Contracts in Twelve Cards — The Definitions to Memorise

Twelve flashcards for Cardano smart contracts: UTXO, datum, redeemer, script context, validator, script address, minting policy, collateral and the eUTXO model.

2026, Sep 22   —  11 minute read

Three Launchpad Bugs from the Bio Protocol Solana Audits - Stranded Supply, Refund Races and Dust Denial of Service

Three Bio Solana launchpad audit bugs, with code: sale tokens stranded by pro-rata claims, a revenue sweep that starves refunds, a u16 table filled for cents.

2026, Sep 22   —  17 minute read

Three Launchpad Bugs from the Bio Protocol EVM Audits - Units, Donations and Partial Claims

Three Bio EVM launchpad audit bugs, with code: a vesting duration passed as a timestamp, a one-wei donation that bricks a launch, a transfer that burns claims.

2026, Sep 22   —  19 minute read

Inside the Zama KMS — Threshold Key Management for FHE, From MPC Protocol to Enclave Deployment

How the Zama KMS holds the FHE decryption key as 13 shares, what its gRPC operations do, how a node is built (core, connector, vaults, backups) and deployed in Nitro Enclaves.

2026, Sep 18   —  25 minute read

The Zama FHEVM Whitepaper — What It Specifies, and What the Code Does Differently

A reading of the Zama fhevm whitepaper (v3.1, June 2025) against the zama-ai/fhevm repository, with the changes the implementation has made since the paper was written.

2026, Sep 18   —  25 minute read