Exponential Science Newsletter

The latest edition of the newsletter covers the Foundation’s research on fine-grained traffic analysis, major updates on crypto regulation and the Hedera ecosystem, and a deep dive into stablecoin stability. Plus, stay updated on AI compliance developments and key industry events shaping the future of tech.

Notable Publications

Unmasking the Internet: A Survey of Fine-Grained Network Traffic Analysis The authors of the discussion paper, Yebo Feng; Jun Li; Jelena Mirkovic; Cong Wu; Chong Wang; Hao Ren; Jiahua Xu; and Yang Liu, investigate fine-grained traffic analysis (FGTA), a sophisticated method used to extract detailed insights from network traffic, even when encryption is present. The authors studied over 300 pieces of literature related to FGTA, categorizing approaches based on methodology, traffic input, use cases such as intrusion detection, website fingerprinting and location inference.

Key findings:

• FGTA is an essential tool for network administrators and attackers to gain visibility over networks due to increasingly complex internet architecture and the widespread use of traffic encryption.

• FGTA plays a critical role in various applications such as intrusion and anomaly detection, quality of experience investigation, user activity inference, website fingerprinting, and location estimation.

• FGTA approaches utilize network traffic data to deduce fine-grained information on or above the application layer, such as application-layer activities, user behaviors, or message content, even with traffic encryption or obfuscation.

Explore the paper and find out more about fine-grained traffic analysis.

Events Calendar

Black Swan Summit

Date: Perth, Australia, 24-26th March 2025

A collision of science, technology, finance, and policy, the Black Swan Summit challenges how we adapt to disruptions in AI, quantum, and beyond.

Get your ticket today

London Policy Summit 2025

Date: London, England, 1st April 2025

Ripple, UK CBT, Innovate Finance, and Digital Pound Foundation are hosting an event in London, bringing together key stakeholders to explore the future of crypto asset market regulation.

Register?today

7th Blockchain International Scientific Conference (ISC2025)

Date: London, England, 4th April 2025Jointly hosted by The BBA and UK CBT, ISC2025 will bring together leading academics, industry experts, regulators, and policymakers to explore the latest in blockchain research and innovation.

Join the event here

Paris Blockchain Week 2025

Date: Paris, France, 8-10th April 2025

Join us at Paris Blockchain Week which will gather top innovators, investors, and industry leaders and meet with Hedera at their booth.?

Register?today

Notable Update

On March 7th, Circle announced the launch of USDC on the Hedera network, onboarding a regulated, fiat-backed stablecoin to an ecosystem known for its scalability, low fees, and rapid settlement times. 'USDC on Hedera (is) an optimal asset for cross-border transactions and trades of all kinds,'?said Jeremy Allaire, the CEO of Circle.

Unlike traditional blockchain networks that suffer from congestion and high transaction costs, Hedera’s architecture enables USDC transfers with predictable fees of just $0.0001 per transaction, regardless of the amount. With three-second settlement times and finality, USDC on Hedera provides a more efficient alternative for payments, decentralized applications, and institutional use cases.

Notable Collaborations

On 26th February 2025, the UK Centre for Blockchain Technologies (UK CBT) officially launched, backed by three Founding Academic Members, the University of Oxford, the University of Birmingham and UCL, marking a landmark moment for the UK’s position as a global leader in blockchain innovation and research.

The event brought together top academics, industry pioneers, and policymakers. Representatives from three universities participated in a panel discussion on blockchain innovation, underscoring UK CBT’s commitment to shaping the future of decentralised technologies and driving regulatory advancements.

Stablecoing Stability Report

The recent Nodiens report titled ‘Decoding Stablecoins' Stability in 2025’ analyses four major stablecoins in USDT, USDC, DAI, and TUSD, evaluating their peg deviation patterns, arbitrage mechanisms, and market resilience over the past two years.

Key findings of the report:

• USDT and USDC exhibit the highest stability, maintaining minimal peg deviations due to deep liquidity and efficient arbitrage mechanisms. ?
• DAI remains relatively stable but experiences higher depeg frequency than USDT and USDC, reflecting its reliance on crypto collateral. ?
• TUSD shows the highest instability, with frequent and severe depeg events, raising concerns about market confidence and liquidity constraints.

Trend of the Week

Grayscale has filed with the SEC for a spot Hedera (HBAR) ETF, aiming for a Nasdaq listing. The move signals growing institutional interest in HBAR and demand for regulated exposure to the token.

Meanwhile, the EU-funded project called Centre for European Research in Trusted AI (CERTAIN) is developing tools to help businesses comply with the upcoming AI Act, ensuring AI transparency, sustainability, and regulatory alignment across Europe in line with the EU Green Deal.

About Us

Exponential Science is a nonprofit foundation established by Dr. Paolo Tasca and Nikhil Vadgama and backed by Hedera that aims to address the convergence among AI, blockchain, sustainability, IoT, quantum computing, machine learning, and other aspects of deep tech.?

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Explore Exponential Science initiatives and partners: DLT Earth, MiCA Crypto Alliance,?UK CBT,?Evergreen Funding