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How to use the Polygon Bridge
Here’s our step-by-step guide on how to use the Polygon Bridge, which facilitates seamless asset transfers between Ethereum and Polygon.
The Polygon Bridge facilitates seamless asset transfers between different blockchain networks, enabling users to navigate diverse ecosystems and leverage decentralized finance (DeFi) opportunities.
Polygon blockchain is an Ethereum layer-2 scaling solution. The Polygon Bridge is a cross-chain interoperability channel, assisting interchain communication between different blockchains to Ethereum and vice versa.
The Polygon Network also provides resources for developing scalable decentralized applications (DApps). Polygon enables the quick and easy deployment of DApps to well-known DeFi platforms such as SushiSwap, Aave and Curve.
Since Polygon transactions are faster and cheaper than Ethereum transactions, users and DApp developers opt for digital asset migration via the Polygon Bridge. But how fast is the Polygon Bridge? While the Ethereum network can handle 14 transactions per second (TPS), the Polygon Bridge facilitates up to 65,000 TPS. Read More
Crypto Biz: Solana Saga mania, Tether brings the FBI on board, and more
The crypto industry experienced a significant number of security incidents in 2023 but is exploring new approaches to fight back against attackers and protect firms’ public images.
The crypto industry has experienced a significant number of security incidents in 2023, though overall losses declined from the previous year. A report by TRM Labs estimates that about 160 crypto projects have been hacked this year, resulting in losses of approximately $1.7 billion.
Even though TRM Labs said things were improving in the crypto world, with smaller losses from hacks, there have still been some significant security issues recently. Take, for instance, the hack on Ledger’s connector library and the theft of millions of dollars worth of nonfungible tokens (NFTs) from the NFT Trader platform.
However, the crypto space has seen interesting developments that may signal a new trend in dealing with on-chain security incidents. Ledger vowed to fully cover the victims’ losses, while a security initiative led by Yuga Labs paid 120 Ether as a bug bounty for recovering stolen high-value NFTs. Flooring Protocol also decided to pay back users who were hit by an attack over the previous days. Read More
Crypto thieves will deploy more convincing AI scams in 2024, firms warn
Crypto investors will have to keep their eyes peeled for sophisticated phishing scams and a plethora of smart contract vulnerabilities next year, according to blockchain security firms.
AI-powered phishing scams, BRC-20 exploits, and new smart contract vulnerabilities are among the biggest threats that crypto projects and investors will likely face in 2024, according to blockchain security firms.
While the $1.7 billion in scam and hack-related losses in 2023 stands as an undeniable improvement to the $4 billion lost in 2022 — Jesse Leclere, a blockchain analyst from CertiK, warned Cointelegraph that scams are only becoming more advanced and users should remain hyper-vigilant for well-executed exploits.
“Phishing, evolving in its sophistication, will likely target not only individual users but also corporate systems [...] using social engineering tactics tailored to the crypto context,” said Leclere, pointing to the Dec. 14 Ledger Connect exploit as a prime example of an advanced attack. Read More
How blockchain helps to bring gold to digital markets — Interview with DAO.Link
Blockchain technology enables the transformation of physical assets into traceable digital assets, and this DAO intends to use this capability to digitize gold.
Asset tokenization has shed new light on blockchain technology by linking traditional finance markets with decentralized finance (DeFi). By enabling the digitalization and tokenization of widely accepted assets such as real estate and precious metals, real-world asset (RWA) protocols have become one of the biggest trends in crypto, experiencing a remarkable surge in total value.
In this interview, Julien Aerni, CEO of DAO.Link, a Swiss-based entity whose goal is to promote decentralization by participating in the launch of DAOs, explains the dynamics of RWA tokenization and explains how DAO.Link’s latest initiative, Gold DAO, aims to create a decentralized version of gold. Read More
Great news, Markethivers! The wallet is now installed on the Markethive platform. Markethive has kept its promise and delivered a complete working wallet. This mighty, robust, and secure wallet encompasses all aspects of facilitating your business and securing all your financials within Markethive, like earnings and payments, dividends paid from your ILPs, retail products, etc.
This is a significant step in the right direction for monetizing Markethive’s ecosystem as it endeavours to ensure and restore sovereignty and financial freedom increasingly being stripped from us by a global authoritarian regime. This article will illustrate what you need to know and do to access the now-operational wallet.
Understand that access and functions of the wallet are only for Entrepreneur One (E1) members at this stage. E1 members can now retrieve their Hivecoin (HVC) from their cold storage to their hot wallet. (You can do this in preparation for the forthcoming coin exchanges and your 3rd party self-custody wallet.) You can also transfer HVC to other members within Markethive via the wallet. Read More
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Taproot Wizards launches script so haters can now reject Ordinals on Bitcoin
“Go run the script or admit that you're just virtue signaling on twitter and are uninterested in stopping inscriptions,” said Rijndael, a Taproot Wizards contributor.
In a bizarre game of consensus chicken, a contributor to Taproot Wizards — an art collection inscribed by Bitcoin Ordinals — says he's come up with a way for Bitcoiners to reject Ordinals inscriptions.
However, he doesn’t expect many will take up the offer.
“Merry Christmas, ord disrespectoors! I have a gift just for you! This [script] will rid your node of inscriptions,” wrote Rijndael, the firm’s pseudonymous chief technology officer, in a Dec. 26 post.
The script was designed to cause nodes to reject any blocks that include inscriptions, explained Rijndael.
"If the economic majority of nodes does that, the miners will choose to build on a chain tip that doesn't have inscriptions, or they sell into a smaller market," he added. Read More
New protocol launches for cross-chain trading of inscription tokens
A new trading protocol aims to support the growth of popular inscription tokens by aggregating liquidity from various trading platforms across blockchain networks.
Bitcoin has kicked off a dynamic ecosystem with blockchain, its underlying technology. The evolution has only accelerated with the emergence of the Ethereum network and smart contracts. After meme tokens, nonfungible tokens (NFTs) and Web3 gaming, the crypto community has found its latest sponge to scratch that tinker-with-technology itch in inscriptions.
Inscriptions are unique data embedded within blockchain transactions, with the most popular ones being ORDI and BRC-20 tokens. The concept started with Bitcoin ordinals, an innovative way to use Bitcoin’s blockchain to create NFTs.
ORDI tokens are specific inscription tokens that utilize the Bitcoin blockchain, where unique identifiers or ‘ordinals’ are inscribed onto individual satoshis (the smallest unit of Bitcoin). BRC20 tokens, on the other hand, are a standard of inscription tokens used on the BNB Smart Chain (BSC). Read More
NFT recap 2023: What happened in the NFT space this year?
Bitcoin Ordinals, the U.S. SEC deeming NFTs as securities and the issue of royalties for creators were some of the biggest topics in the industry in 2023.
Nonfungible tokens (NFTs) remained an integral part of the Web3 ecosystem in 2023, with many community members continuously braving new waters and constantly trying to figure out solutions to the space’s challenges throughout the year.
While critics regularly write obituaries for NFTs, users trading the asset class prove that the space is very much alive. In the last 30 days alone, the top 10 blockchains used for NFTs have recorded a collective sales volume of over $1.5 billion, showing that there is still demand.
While so many things happened within the NFT space in 2023, some changes stood out more dramatically than others. These include historical developments for the industry, like the creation of Bitcoin Ordinals, the first United States Securities and Exchange Commission case against NFTs and the divide regarding creator royalties. Read More
Defi Rebounds: Total Value Locked and Token Prices Surge as 2023 Marks a Year of Recovery and Growth
Defi Witnesses Dramatic Recovery as TVL and Token Valuations Soar in 2023
As 2023 draws to a close, the decentralized finance (defi) landscape has experienced consistent growth throughout the year. Currently, the total value locked (TVL) in defi stands at approximately $53.30 billion, rising from a low of $33.9 billion.
This ascent signifies an impressive increase of over 39%, adding $19.4 billion to the defi space. As we look at the year’s end, prominent defi protocols leading by TVL size include Lido, Maker, Aave, Justlend, and Uniswap.
Notably, Lido, a liquid staking defi protocol, holds a considerable share of the TVL in defi, amassing $20.82 billion, representing 39% of the combined TVL in the entire defi ecosystem. In the realm of defi, Ethereum continues to lead with 53.93% of the total value locked on its blockchain. Read More
Disclaimer: These articles are provided for informational purposes only. They are not offered or intended to be used as legal, tax, investment, financial, or any other advice.
