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Babylon Labs Collaborates with Fiamma to Build Trust-Minimized Bitcoin Bridges

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TORTOLA, British Virgin Islands, Jan. 10, 2025 /PRNewswire/ — Fiamma, a pioneer in BitVM2 technology, has secured strategic investment from Babylon Labs to advance the shared vision of a Bitcoin-secured decentralized world. The initiative focuses on developing the software solution for the first Trust-Minimized Bitcoin Bridges to cosmos chains in the ecosystem. These bridges achieve unparalleled security by pioneering the integration of zero-knowledge technology into Bitcoin through the innovative BitVM2 paradigm. This effort aims to unlock the untapped potential of 21M BTC, enabling Bitcoin to transcend its traditional limitations and interact seamlessly with other ecosystems.

This integration is more than just a bridge—it’s a step toward redefining Bitcoin‘s utility and efficiency within the digital economy. By enabling innovative solutions built on Bitcoin‘s inherent strengths, the collaboration sets the stage for breakthroughs that will reshape how Bitcoin is utilized across programmable blockchains and beyond.

Fiamma: BitVM2 Pioneer

In November 2024, Fiamma launched the alpha testnet for Fiamma Bridge, the first BitVM2-powered trust-minimized Bitcoin bridge, along with the devnet for Bitcoin‘s first ZK verification layer utilizing BitVM2. These groundbreaking innovations mark the first implementations of BitVM2, a technology that not only scales Bitcoin but also enables seamless, pragmatically trustless interactions with other programmable blockchains.

Fiamma has pioneered the development and implementation of the most efficient and compact verifiers in Bitcoin Script, including Fflonk and Groth16, setting a new standard for optimized ZK verification. This achievement lays the foundation for future advancements in ZK technology, with a commitment to further innovation and refinement.

Babylon Protocol: The Leading Trustless Bitcoin Staking Solution

Babylon Labs, which develops software solutions enabling new native use cases for Bitcoin, including Bitcoin‘s largest staking protocol with over 57,000 BTC staked through it (equivalent to $6 billion in TVL), is helping transform the perception about Bitcoin‘s utility through this novel trustless staking technology that allows Bitcoin holders to mobilize their BTC to secure other proof-of-stake systems while receiving additional programmatic rewards.

Key Milestones in the Integration

After months of technical discussions and collaboration, the two teams have outlined two key milestones for their integration:

Trust-Minimized Bridge: A transformative solution that activates BTC’s asset potential, providing holders with more options and trustless participation in DeFi, PayFi, and other use cases on any chain without security concerns.Future Innovations Beyond the Bridge: Building on the foundation of the Trust-Minimized Bridge, the integration is designed to pave the way for advanced solutions that enhance Bitcoin‘s utility and capital efficiency, unlocking its role in the broader financial and decentralized landscape.

The integration will initially focus on developing the Trust-Minimized Bridge, combining the strengths of both parties to create high-impact, high-quality solutions that set a new standard for Bitcoin-based interoperability.

Trust-Minimized BTC Bridge

Based on the BitVM2 paper, the definition of “Trust-Minimized” is the existence of one active rational operator and rational challengers.

This means that:

As long as there is 1 honest challenger, the safety of the Bridge is established;As long as there is 1 honest operator, the liveness of the Bridge is established.

Based on this trust assumption, Fiamma and Babylon Labs are working together to research and develop software for a Trust-minimized bridge by ensuring users retain custody of their assets, with the following parameters:

Peg-In (Deposit) Safety:  If the B-BTC is minted on Babylon chain, then the same amount of BTC has been locked on the Bitcoin networkPeg-In Liveness: If the user has locked some amount of BTC on the Bitcoin network following the bridge protocol, then the user can self-mint the same amount of B-BTC on Babylon chain within a finite known time bound.Peg-Out (Withdraw) Safety: If the BTC is unlocked on Bitcoin, then the same amount of B-BTC has been burnt on the Babylon chainPeg-Out Liveness: If the user has burnt some amount of B-BTC on Babylon chain following the bridge protocol, then the user can unlock the same amount of BTC on the Bitcoin network within a finite known time bound.

The system leverages the following key components to ensure the above security properties.

●     Sidechain Modules:On-Chain Bitcoin Light ClientBridge ContractWrapped BTC Contract●     Bitcoin Modules:ZK Light Client Networks (Bitcoin & Sidechain)BitVM2-based Snark Verification on BitcoinBitVM2 Transaction Graph●     Off-Chain Module:Event MonitorRelayer NetworkMulti-OperatorsFungible Liquidity ProviderPermissionless ChallengeProof GenerationProof Aggregation

For detailed information on the bridge’s architecture and security, check out our docs and stay tuned for our upcoming blog series.

About Fiamma

Fiamma is unlocking real-world use cases for Bitcoin, transforming it into a dynamic asset and the foundation for a decentralized internet and financial system. Backed by Lightspeed Faction and L2IV, Fiamma leads innovation with the Fiamma Bridge and Fiamma Layer, the first products to implement BitVM2. These foundational technologies are just the beginning, as Fiamma continues to develop protocols that expand Bitcoin‘s potential across programmable blockchains and real-world applications. With a growing network of strategic partners, including Babylon, BOB, Satlayer, and RiscZero, Fiamma is shaping the future of decentralized systems.

Website | Twitter | Discord | Telegram

About Babylon Labs

Babylon Labs focuses on Bitcoin security-sharing protocols with a vision of building a Bitcoin-secured decentralized world. The latest software development is the world’s first trustless and self-custodial Bitcoin staking protocol, which enables Bitcoin holders to stake their BTC on other decentralized systems such as PoS chains, L2s, Data Availability (DA) layers, etc, enabling stakers to receive staking rewards without the need for third-party custody, bridge solutions, or wrapping services. The greater idea is to combine the high security and wide adoption of Bitcoin with the efficiency and scalability of PoS systems, increasing Bitcoin‘s utility.

For more information about Babylon Labs, a developer of the Babylon Bitcoin staking protocol, please visit:

Website | Twitter | Discord | Linkedin

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SOURCE Babylon

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Waters Corporation to Host Investor Day on March 5, 2025

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MILFORD, Mass., Jan. 10, 2025 /PRNewswire/ — Waters Corporation (NYSE:WAT) announced that it will host an Investor Day on Wednesday, March 5th, 2025, in New York City, starting at 8:30 AM ET.

The event will feature presentations by members of the senior management team, who will discuss business initiative achievements, new strategic priorities, and our vision for future shareholder value creation. A Q&A session will follow.

In-Person Attendance
To request in-person attendance at this event, please click here or visit the Waters Investor Relations website at https://ir.waters.com, under ‘Events’.

Webcast
A live webcast will be available the day of the event. To register for the webcast, please click here or visit the Waters Investor Relations website at https://ir.waters.com, under ‘Events’. A replay of the webcast will be available shortly after the event concludes.

About Waters Corporation
Waters Corporation (NYSE:WAT), a global leader in analytical instruments and software, has pioneered chromatography, mass spectrometry, and thermal analysis innovations serving the life, materials, food, and environmental sciences for more than 65 years. With approximately 7,500 employees worldwide, Waters operates directly in 35 countries, including 15 manufacturing facilities, and with products available in more than 100 countries.

Caspar Tudor, Head of Investor Relations
investor_relations@waters.com

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SOURCE Waters Corporation

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As Retail Cybercrime Surges, Plank Road Ventures To Present Technology Solutions At NRF 2025 Big Show

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HOBOKEN, N.J., Jan. 10, 2025 /PRNewswire/ — Credit cards and other non-cash payment methods now account for some 80% of purchasing activity, according to some reports. It’s convenient for consumers, but each retail transaction may expose vital shopper information to nation-state and other cybercriminals. Consumers are inconvenienced, while retailers may suffer reputational and financial damage.

To combat the upsurge in digital incursions, Plank Road Ventures — an eMazzanti Technologies company — will present artificial intelligence, cybersecurity best-practice and other retail solutions at the NRF (National Retail Federation) 2025 Retail’s Big Show at Booth 2306, in the Startup Hub of New York City’s Jacob K. Javits Convention Center from January 12 through January 14, 2025.

“The rise in credit card, digital and other payment methods have made retailers a rich target for cyberthieves,” warns eMazzanti Technologies President Carl Mazzanti. “POS systems, for example, can store customer information and purchase history, enabling retailers to capture the information they need to inform targeted marking campaigns and personalized shopping experiences. But POS transactions also pose an attractive target for cybercriminals, and a successful data breach will have far-reaching consequences.”

Plank Road Ventures, a global managed services provider, partners with leading companies like Microsoft, Watchguard, HP, and I3 Communications to help retailers deploy technology that improve and secure their operations and store strategies, while enhancing customer experience and engagement. Retailers can meet with trained professionals from Plank Road Ventures at the NRF 2025 Retail’s Big Show, and learn about leading-edge POS and other solutions.

About eMazzanti Technologies
eMazzanti’s team of trained, certified IT experts deliver rapid response, increased revenue growth, data security, and productivity for organizations of all sizes. The firm offers cloud and mobile solutions, multi-site technology implementations, outsourced network management, 24 x 7 support, digital marketing services, and cyber security assessments and protection services.

About Plank Road Ventures
Our team of experienced retail experts works with clients to understand their specific requirements and recommend the best options. Specializing in store operations and support, the team is available 24x7x 365.

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SOURCE Plank Road Ventures

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Kevin Lanouette Named Senior Vice President and General Counsel

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BEDFORD, Mass., Jan. 10, 2025 /PRNewswire/ — iRobot Corp. (NASDAQ: IRBT), a leader in consumer robots, today announced that Kevin Lanouette has been named Senior Vice President and General Counsel, effective January 17, 2025. Tonya Drake, the Company’s Executive Vice President and General Counsel, will transition to an advisory role ending March 7, 2025.

“I’d like to thank Tonya for her many years of service to iRobot,” said Gary Cohen, iRobot CEO. “Her legacy of tenacity and rigor in protecting the iRobot Company and our brand has been exemplary.”

“Kevin is a seasoned and highly skilled attorney whose experience in advising on complex corporate and securities, commercial, M&A and IP protection matters will be invaluable as we execute our strategic initiatives and work toward a return to profitable growth,” said Cohen.

Formerly, Mr. Lanouette was a Partner at OutsideGC, a Boston-based law firm, where he specialized in providing strategic legal counsel to clients at all stages of development and across a broad range of industries, including technology development, software and services and healthcare. Previously, he served as Assistant General Counsel at Analog Devices, Inc., a leading global semiconductor manufacturer, from 2006 to 2020, where he had responsibility for several critical legal functions, including corporate, SEC and securities matters, IP licensing and technology transfers, M&A and investments, global commercial transactions, and governance and compliance issues.

He is a graduate of the University of Maine and Harvard Law School.

About iRobot Corp.
iRobot is a global consumer robot company that designs and builds thoughtful robots and intelligent home innovations that make life better. iRobot introduced the first Roomba robot vacuum in 2002. Today, iRobot is a global enterprise that has sold more than 50 million robots worldwide. iRobot’s product portfolio features technologies and advanced concepts in cleaning, mapping and navigation. Working from this portfolio, iRobot engineers are building robots and smart home devices to help consumers make their homes easier to maintain and healthier places to live. For more information about iRobot, please visit www.irobot.com

For iRobot Investors
Certain statements made in this press release that are not based on historical information are forward-looking statements which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. This press release contains express or implied forward-looking statements relating to iRobot Corporation’s expectations concerning executive transitions and execution of the company’s strategy. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. iRobot undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise. For additional disclosure regarding these and other risks faced by iRobot, see the disclosure contained in our public filings with the Securities and Exchange Commission including, without limitation, our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.

 

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SOURCE iRobot Corporation

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