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Infura Collecting MetaMask Users' IP, Ethereum Addresses After Privacy Policy Update
New updates to ConsenSys' API tool Infura have sparked controversy in the crypto community as it will begin collecting users’ IP addresses.
ConsenSys has informed users that it is set to collect additional data from those using its popular Infrura tool, attracting criticism on social media in the process.
Infura is an API-based tool that allows users to connect their application to the Ethereum network, which provides the basis for many key Web3 projects, such as Aragon, Gnosis, OpenZeppelin, and ConsenSys’s own flagship wallet service MetaMask.
After Infrura was first acquired by the New York-based blockchain firm in late 2019, the tool now boasts around 350,000 developers and also includes support for other blockchains like Polygon and Filecoin. ConsenSys is one of 22 strategic investors in Decrypt.
As per updates to ConsenSys’ privacy policy, when you use Infura as your default remote procedure call (RPC) provider in MetaMask, it will collect your IP address and your Ethereum wallet address whenever you make a transaction. Read More
What the Builders of Web 3.0, DApps and Protocols Are Missing in Software Development
Have you ever wondered when all the applications we use will be blockchain-based and decentralized? Why hasn’t this day come yet?
In fact, the majority of DApps can be slower and lack the functionality that the public is accustomed to. Most current blockchain-related technologies cannot scale to the levels required for large applications like social networks, web apps, IoT providers, etc.
However, there is a component of the development stack that programmers frequently ignore but that will inspire the subsequent wave of decentralized applications and possibly speed up mass adoption. Read More
KyberSwap Brings its swap rates on Solana with aggregator launch
By launching its aggregator on Solana, KyberSwap has expanded its DeFi presence. The integration would enable the platform to provide swap rates on Solana in a secure and user-friendly manner.
This new development makes KyberSwap the first EVM decentralized exchange aggregator to offer competitive swap rates on Solana. Kyber Network’s end goal has always been to become the most efficient DeFi aggregator possible, and this partnership represents a significant step in the direction of achieving that objective.
According to the latest post by KyberSwap, Solana stands as a real innovation, hosting genuine builders and teams. The platform possesses the potential to become a mainstream leader in the coming time.
In addition to the integration, the parties are also active participants in a number of other projects. One such instance is their work in Vietnam, where the platforms have provided marketing assistance for a year. Read More
What Is a Blue Chip NFT?
Traditional blue chip stocks are reliably stable, they are unlikely to generate the same high returns as potentially riskier investments. The same holds true for so-called blue chip NFTs
-Blue chip NFTs are projects that are expected to be stable in terms of value and profitable in the long term. -Blue chip NFTs have several characteristics in common – a relatively high floor price, brand power, celebrity endorsements, commitment of the project team, and real-world utility. -Blue chip NFTs include Bored Ape Yacht Club, Mutant Ape Yacht Club, Crypto Punks, and ENS: Ethereum Name Service.
Before we can look into what is a blue chip NFT, we should look into what NFTs are and how they are valued. Read More
A democratic society values a free-flowing media ecosystem. A healthy media ecosystem is one of the characteristics of a democratic society. Mass media outlets such as newspapers and cable TV networks were prominent in the past. Today, the internet and social media platforms allow for greater communication across society.
Journalism, investigative correspondents, and even freelance writers are essential to that ecosystem. High-quality reporting revealing brutal truths and users' scope and exposure on social media to either create or access information are forces that can drive genuine societal change. And even keep the power structures in check.
Despite the positive aspects mentioned above, harmful practices and negative external forces related to the media ecosystem often eclipse them. These issues are usually easy to recognize once they’re identified. Therefore, it is important to acknowledge them and spread awareness about their potential risks.
Doing so will help you make informed decisions about how you use media and how it can impact your life and the lives of others. The following are a few issues pervasive in many digital news sites, forums, and social media platforms. Read More
Markethive Media has embraced blockchain technology and cryptocurrency, building an ecosystem that belongs to “we the people,” eliminating many of the issues plagued by media outlets today. With its meritocratic culture, dynamic social media interface, and growing community, Markethive is enhancing and bringing the platform into the future internet with new technology and interfaces, but still in keeping with the human touch.
Is It Wrong for DeFi Projects to Track Data?
With MetaMask and Uniswap revealing the extent to which they track their users, many in the community have pushed back. Are they right?
As if there weren’t enough misery in the crypto markets at the moment, DeFi enthusiasts are now in an uproar over revelations that Uniswap, the popular decentralized exchange (DEX), tracks public user data.
True, the exchange doesn’t track personal, private data like names or IP addresses, but according to newly-uploaded terms and conditions documents, pretty much anything publicly viewable online is aggregated and harvested. And it's not alone; earlier this week, Metamask, the popular Ethereum wallet, fessed up to tracking users' IP addresses.
Among the many trivia collected by Uniswap, according to its privacy policy, are public blockchain data, user preferences, mobile and browser metadata, biographic data included in customer surveys (which, confusingly, includes names), and customer service communications, along with information from third-party service providers concerning “illicit or other fraudulent activities.”
That user data, it says, is gathered in order to “improve the user experience” of the DEX.
And to whom does it supply this data? Read More
Binance Launches Proof-of-Reserve System for Bitcoin, Ethereum 'Coming in The Near Future'
Cryptocurrency exchange Binance today announced the release of its Proof of Reserve system, starting with Bitcoin at launch.
Binance, the world’s largest crypto exchange by trading volume, released its proof-of-reserves (PoR) system today, which it said “is the next step in its “commitment to transparency and fostering trust in the ecosystem.”
Per the official announcement, the launch of the PoR system initially starts with Bitcoin (BTC), with other tokens and networks to be added in the next couple of weeks.
“When we say Proof of Reserves, we are specifically referring to those assets that we hold in custody for users,” said Binance. “This means that we are showing evidence and proof that Binance has funds that cover all of our users assets 1:1, as well as some reserves.”
More specifically, Binance provided a snapshot of account balances and its own Bitcoin reserves as of 23:59 UTC on November 22, 2022.
The exchange claims it has 582,485 BTC in its reserves, while its users have a net balance of 575,742 BTC — giving Binance a reserve ratio of 101%. Read More
Sustainability: What do DAOs need to succeed in the long run?
The growing presence of projects identified as DAO raises the question: What makes them sustainable across time and technology changes?
The rising popularity of decentralized autonomous organizations (DAO) reflects the growing tendency toward the creation of community-focused projects within the Web3 ecosystem.
At its core, a DAO is an organizational structure that allows decentralized decision-making within a community.
Currently, there are over 4,000 of these projects in existence, according to the registration data of DeepDAO. With new tools available to make DAOs easier than ever, quantity can easily overtake quality within these communities and it begs the question of what will eventually make these projects relevant in the long run.
The basic structure for decentralized organizations seems to be similar to any other tech startup: It requires a service or product with added value, a community of users, treasury, a business development plan and marketing.
Speaking to Cointelegraph, Santiago Siri, founder of Proof-Of-Humanity DAO (PoH DAO) — the issuer of the Universal Basic Income (UBI) token — shared his special ingredient to make DAOs sustainable: a committed community:
“After building a participative community, we can find funding mechanisms, alliances with other DAOs, governance and participation mechanisms and so on. But without a community, the DAO is not real.” Read More
The Revolution Of Smart Contracts: Why They Are Disrupting The World
A smart contract is the brainchild of the blockchain evolution. Despite still being in its primitive phase, blockchain technology has introduced the disruptive concept of decentralization and showed how it can be used to solve different problems across a multitude of industries.
When Ethereum was introduced by Gavin Wood and Vitalik Buterin in 2015, it sparked the emergence of the second generation of blockchain — bringing new techniques and ideas to handle distributed ledgers. One of these techniques included smart contracts, which opened the blockchain's doors to automation.
To fully understand what a smart contract is, the first thing to know is that it is a program that is hosted on a blockchain network. In addition to the guarantee that data is protected from being tampered with, each contract has specific predetermined conditions that will trigger certain outcomes when met. Furthermore, smart contracts also allow parties to agree on results accurately and timely.
As they are not managed by a central authority, proper smart contract implementation offers an important infrastructure for automation. What’s more, they are shielded from single-point assaults made by malicious entities like hackers. Meanwhile, in multi-party digital agreements, smart contracts reduce counterparty risk, increase efficiency, reduce costs, and maintain transparency. 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.
