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Circle’s new services help Web2 developers shift to Web3
Circle has updated its suite of services designed to empower developers with the tools necessary to seamlessly transition from Web2 to Web3.
The most recent updates, Gas Station and Smart Contract Platform, aim to tackle some of the major obstacles hindering mainstream adoption of blockchain technology.
Gas Station: Improving gas fee management:
Managing gas fees has long been a daunting task for developers and users alike. Circle’s Gas Station aims to eliminate this challenge by abstracting the blockchain network fees (gas) experience. Developers no longer need to wrestle with gas tokens while creating and testing their applications.
Gas Station allows developers to sponsor gas tokens on EVM-compatible Layer 2 chains, ensuring a gas-free user experience. This innovation not only simplifies the development process but also enhances the user experience by removing the need for users to exit an app to acquire tokens for transaction fees. Read More
Tracking stolen crypto — How blockchain analysis helps recover funds
Over $900 million was hacked in crypto in 2023. How can blockchain analysis help in finding and retrieving stolen assets?
Amid the rapid evolution of decentralized finance (DeFi) and the broader Web3 landscape, security is of paramount importance. New threats continue to emerge, making it essential to understand attack patterns for risk assessment and reliability evaluation. In 2023 alone, over $990 million was lost or stolen, according to Cointelegraph’s Crypto Hacks database.
This growing demand for security has led to the emergence of a diverse ecosystem of Web3 security expertise, ranging from decentralized identity solutions to smart contract auditors, ensuring the safety of this dynamic digital space.
The Lazarus Group, a state-affiliated hacking group from North Korea, remains a persistent threat. Lazarus was responsible for confirmed losses totaling at least $291 million in 2023. Even as the year progressed into the third quarter, Lazarus remained active and was responsible for the attack on CoinEx, resulting in losses exceeding $55 million, leaving a chilling reminder of the cybersecurity challenges.
Furthermore, even companies sometimes struggle to combat potential hacks and exploits. Accordingly, solo crypto enthusiasts need skills to conduct analysis and research to protect funds. Blockchain analysis is the investigative process of examining blockchain transactions to trace illicit activities and recover stolen assets. Here’s how it works: Read More
Bitget releases MPC wallet, includes 2/3 private key sharding
Cryptocurrency exchange Bitget has released a multiparty computation wallet to improve asset security and user experience.
Cryptocurrency exchange and derivatives platform Bitget has launched a new wallet service using multiparty computation (MPC) to improve security and key management for users.
After launching its account abstraction wallet service powered by Ethereum scaling protocol Starknet in July 2023, Bitget has employed MPC to overhaul private key and asset management.
MPC technology uses a distributed key generation mechanism that distributes multiple key shares to different locations controlled by multiple parties. This enables a process that requires the owners of distributed private key shares to sign and authorize the transaction.
The MPC wallet features a "mnemonic-free" user experience, removing a long-time industry standard that relied on users storing or memorizing mnemonic phrases and private keys. Assets are instead managed using password-based authentication, which Bitget touts to eliminate the risk of a single-point private key exposure. Read More
Bitmain to Support Aleo's PoW Blockchain With Latest Antminer Release
Crypto mining rig manufacturer Bitmain plans to release a new Antminer supporting the proof-of-work (PoW) blockchain network Aleo. The announcement comes after Bitmain’s recent launches of filecoin and kaspa machines and the company’s latest series of bitcoin miners.
Aleo’s L1 Blockchain to Get Bitmain Mining Support:
According to a recent Bitmain post, the company intends to introduce a miner compatible with the forthcoming blockchain network Aleo. The Aleo PoW blockchain is currently in testnet mode and hasn’t fully launched. It’s a layer one (L1) blockchain that employs zero-knowledge proofs to bolster privacy while retaining programmability. Aleo uses a statically typed programming language inspired by Rust named Leo.
“To support the prosperity of the Aleo ecosystem, Bitmain plans to launch the Aleo Antminer,” the post published by Bitmain disclosed. Read More
Also, Updates On New Integrations And The Markethive Wallet
As the bear market continues wth its crypto-cleanse and traders bemoan the adverse price action, some industry leaders opine these conditions will eradicate bad actors and create more significant opportunities for upcoming projects and future participants. Several leading crypto analysts and engineers embrace the idea that this is the time to engage in moves leading to the loftiest gains when the bull cycle returns.
Markethive stands firm with these sentiments and continues to build its next-generation entrepreneurial platform and be ready for the market-cleansed bull run. Those on the Markethive journey may be aware that new features are being integrated into the newsfeed in preparation for the five-channel dashboard housing various feeds.
The innovative five-channel dashboard integration will consist of five newsfeeds—the general newsfeed, the blog, the video channel, curation, and surveys.
It will significantly streamline your activities and business facilitation and will include a search engine so you can build your personal algorithms. This will save time and effort by eliminating what you don’t want to see in your newsfeeds, be more intuitive, and enhance the user experience.
CEO of Markethive, Thomas Prendergast, and the team of engineers have made substantial headway with the wallet. It is all but done, and the release is imminent. It’s not a simple wallet that just transfers coins. It is a complete portfolio and accounts of all your transactions, payments, and affairs, including your ILPs. The wallet comprises fourteen major foundational processes and is your internal wallet on the Markethive database. Read More
Understanding Blockchain and Smart Contracts
Blockchain technology and smart contracts have emerged as innovative solutions in the world of digital transactions and contracts.
These technologies are transforming various industries by enhancing security, transparency and efficiency.
In this article, we’ll explore what blockchain and smart contracts are, their applications and their impact on various sectors. Read More
Blockchain embraces gold to provide stability and growth for crypto assets
This project brings 250 years of expertise in gold to the blockchain to provide a stable entry into the crypto market.
As people look for a stable way to enter into the crypto market, this gold-backed digital ecosystem with a crypto token and NFTs offers a solution.
Gold, a precious metal known for its scarcity and durability, has been the primary store of value since ancient civilizations. For thousands of years, people prized gold in their trades and investments. Even in the modern world, gold reserves are a major indicator of how strong and reliable a country’s economy is. Despite the gold standard being largely abandoned in 1971, governments and central banks worldwide still hold thousands of tonnes of gold in their reserves as a backup, showing that old habits die hard.
In the era of cryptocurrency, a digital form of gold has emerged. Blockchain technology has enabled the proving and tracing of digital ownership of any asset transparently, paving the way for gold reserves to be digitized and represented by gold-backed tokens. Read More
Ripple Joins Forces With Uphold to Improve Cross-Border Crypto Payments Liquidity
Ripple has partnered with Uphold to improve its cross-border crypto payments infrastructure. Uphold will provide Ripple with “enhanced crypto liquidity capabilities.” Ripple offers services in over 55 countries, with payout capabilities in more than 70 markets, the company said, adding that it has processed $30 billion worth of volume and 20 million transactions.
Ripple announced Tuesday that it has formed a new partnership with Uphold, a multi-asset digital currency platform that operates in over 184 countries, offering access to over 200 crypto and fiat currencies. According to the announcement:
The partnership will see Uphold provide Ripple with enhanced crypto liquidity capabilities to underpin and enhance its cross-border payments infrastructure.
Uphold CEO Simon McLoughlin explained that his company’s platform “features a fully automated, high-frequency trading stack” that is connected to 30 underlying trading venues. This allows Uphold to “offer deep liquidity, multiple execution paths for transactions, and exceptionally tight spreads,” he said. Read More
New Bitcoin Lightning Network Vulnerability Exposed: The Replacement Cycling Attack
A recent revelation on the Lightning Network vulnerability known as a “replacement cycling attack” has prompted notable security researcher and developer, Antoine Riard, to step down from his role on the Lightning Network development team. The disclosure of this attack came to light through a detailed thread shared on Twitter by a developer known as mononaut, on 21st October 2023. This attack exploits a particular mechanism within the Lightning Network’s transaction process, causing potential financial loss to users engaged in a channel.
The Mechanism Behind the Attack:
The Lightning Network operates as a second layer on top of the Bitcoin blockchain, with the primary goal of scaling the Bitcoin (BTC) transaction capability by facilitating off-chain, peer-to-peer transactions. Users can establish payment channels within the network, execute multiple transactions off-chain, and then record the aggregate transaction on the Bitcoin blockchain upon completion. The core of this attack lies in the manipulation of the Hash/Time Lock Contract (HTLC) outputs, which are essential for securing transactions while they are routed through the network.
The attack unfolds in a multi-step process. 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.
