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BNB Developers to sunset Beacon Chain tokens
The BEP-2 and BEP-20 chain fusion is scheduled for April 2024.
Developers of Binance’s BNB Smart Chain want to merge the dual BNB Beacon Chain (BEP-2) and BNB Smart Chain (BEP-20) chain structures into a single blockchain.
According to the Jan. 8 announcement, users are “strongly recommended” to transfer their BEP-2 and BEP-8 (mini BEP-2 tokens) to the BEP-20 chain, which will preserve assets on a 1:1 ratio. The transfer can be done via centralized and decentralized exchanges, or through the BNB Chain Wallet and other self-custody wallets. A tentative deadline for the BNB Chain Fusion has been set for April 2024.
Users who do not bridge their assets by the deadline can still do so thereafter using a legacy feature. That said, users will need to wait up to seven days to recover their BEP-2 assets post-fusion, with the recovery feature having no user interface, only a command-line prompt. Read More
What is a nonce in blockchain, explained
A nonce, short for “number used once,” is a special number that is assigned to a block in a blockchain during the mining process. It is an essential part of the proof-of-work (PoW) consensus mechanism.
The nonce, serving as a cryptographic puzzle, is a variable that miners manipulate to produce a hash value that satisfies particular requirements. Miners keep changing the nonce until they find a hash that possesses the necessary properties, which are frequently a set number of leading zeros. This iterative process, known as mining, ensures the security of the blockchain.
The correct nonce is essential for validating a block’s legitimacy and plays a pivotal role in block creation. It prevents malicious actors from tampering with data by making the computational effort required for such alterations prohibitively high.
The mining process is made more complicated by the trial-and-error method involved in determining the correct nonce. The block is deemed legitimate if miners discover the correct nonce, demonstrating the nonce’s crucial role in upholding the blockchain’s consensus, security and integrity. Read More
Solana now boasts more than 2,500 monthly active developers
The Solana Foundation notched a 50% increase in developer retention on the network over the last three months.
According to recent data from the Solana Foundation, the Solana ecosystem now touts more than 2,500 monthly active developers.
In a Jan. 9 report that assessed key network metrics throughout 2023, Solana claimed that its network had maintained somewhere between 2,500 and 3,000 monthly active developers over the last year.
“Sustaining a consistent amount of developers is an important indicator of a healthy ecosystem as it showcases the ecosystem’s ability to attract and retain new talent,” it said, while also noting that the measurement only accounts for developers contributing in public repositories. Read More
What is VeChain, and how does it work?
VeChain is a smart contract-compatible blockchain designed to enhance the supply chain and accelerate the mass adoption of blockchain technology.
The public blockchain called VeChainThor is intended for widespread use of blockchain technology by companies of all sizes, acting as the building block for a resilient and expandable enterprise blockchain ecosystem.
According to VeChain, Ethereum remains unsuitable for running large-scale commercial decentralized applications (DApps) while being a significant technological milestone. This is because Ethereum does not have a robust governance framework to allow for quick and transparent protocol changes to address emerging issues or breakthroughs.
Also, an appropriate economic model is absent in the Ethereum blockchain, restricting businesses from operating their DApps at a controllable and predictable cost. In addition, given how volatile the price of Ether is, companies may not forecast future ETH prices or the expense of maintaining an Ethereum-based decentralized application for a specific time. So, what makes VeChain unique?
The VeChainThor blockchain hopes to address the above issues using meta-transaction features, a proof-of-authority (PoA) consensus method, an on-chain governance mechanism and a unique two-token system. Read More
HVC is poised to triumph in the crypto economy.
Markethive is a monolithic blockchain project currently operating as a social network, an entire inbound marketing platform with email, blogging, and digital media capabilities that broadcast to the vast internet. It’s a complete Market Network and the first of its kind.
Markethive is predominantly a free system where users can access a platform that can cost more than $2,500 offered by other marketing platforms. There are, of course, upgrades that open up more tools and monetization opportunities, the first being the Entrepreneur One Loyalty Program, and coming soon is the Premium Upgrade.
The many domains Markethive has and its autonomous cloud systems that ensure its sovereignty and longevity make it untouchable and immune from the tech giants’ rule and biased agenda. But can still remotely infiltrate the social media platforms and reach the multitudes either locked in or looking for an alternative meritocratic medium.
In other words, wherever you go, Markethive is there, anywhere and everywhere, delivering its message via its community of entrepreneurs to a far-reaching audience. This next-generation social market media is poised in the wings, and when the time is right, it will emerge as a shining light to lift people up and bring financial sovereignty and hope in this gloomy and uncertain world.
The video platform, conference rooms, the unique four specific news feeds currently in development, and many other projects and incentives add to the credibility and need for an ecosystem in the social media and digital marketing space. Read More
The Hidden Risk Of Bitcoin ETFs Nobody Is Talking About
Custodia Bank CEO Caitlin Long claims there’s a “hidden risk” surrounding a handful of Bitcoin ETFs eyeing imminent launch in the United States, following BlackRock’s recently updated S-1 filing.
According to the founder, sponsors may attempt to generate more profit from their funds using securities lending, which “can pose a lot of hidden risk to investors.”
The Threat Of Securities Lending:
Long’s concerns swelled in response to an apparent race to the bottom on management fees among Bitcoin ETF applicants, who are theoretically meant to profit by taking a yearly cut of their investors’ BTC.
On Monday, BlackRock’s revised prospectus revealed that its management fee would be a modest 0.3%. Simultaneous updates from competitors like VanEck and Bitwise unveiled fees as low as 0.25% and 0.24% respectively – figures surprising even to analysts who have expected a fee war to break out for months.
“When fees are lower than costs, please please please ask yourself how the asset manager is making money managing the fund,” Long wrote to X on Monday. “With no-fee funds, the answer is usually securities lending.” Read More
This Web3 security tool protects users against phishing and drainers in real-time
Web3 introduces new, complex security challenges, but cutting-edge protection solutions are already addressing them.
The transition from Web2 to Web3 represents a paradigm shift in online interactions, introducing a decentralized environment where users possess unprecedented control over their data and digital assets.
However, this new frontier has unperceived dangers, particularly security threats that call for advanced protective measures. This is where Web3 Antivirus comes to aid as a dedicated safeguard designed to navigate users through the new digital space, securing assets and data against potential breaches and scams.
Web3 Antivirus emerges as a crucial ally in this context, equipped with sophisticated features that analyse and interpret the risks associated with various Web3 interactions. Its role is not just preventive, but also educational, empowering users to understand and identify the potential red flags in their digital transactions. Read More
Cosmos developers propose reducing ATOM inflation rate
The minimum inflation rate for ATOM could potentially be reduced to 0% per annum.
Developers of the inter-blockchain communications (IBC) protocol Cosmos want to further reduce the inflation of its native token, ATOM
According to a Jan. 9 proposal by StakeLab, a staking and relaying hub on the Cosmos ecosystem, developers wish to reduce the minimum inflation of ATOM to 0%. ATOM’s current inflation rate is between 7% and 20% and will be reduced to 0% or 20% if the proposal passes. A quorum of 40% of ATOM’s outstanding supply and sufficient yes votes are required before Jan. 23 for the proposal to pass. In outlining the rationale for the proposal, StakeLabs wrote:
“This minimum rate implies that, theoretically, even if 100% of the token supply were staked, the network would continue to produce an additional 7% of tokens annually. This situation raises concerns and, to my knowledge, doesn’t align with any other functioning blockchain model (even outside).” Read More
Apple India blocks Binance, 9 other crypto exchanges weeks after FIU notice
Binance, KuCoin and eight other crypto exchange applications were blocked by Apple’s App Store in India weeks after the country’s Ministry of Finance notice against nearly a dozen foreign non-registered crypto exchanges.
Apple’s App Store in India has blocked Binance, KuCoin, Bitget, Huobi, OKX, Gate.io and MEXC crypto exchange apps weeks after the Indian government issued a noncompliance notice against nearly a dozen off-shore crypto exchanges. These exchange applications are no longer accessible to new users in India.
On Dec. 28, 2023, the Indian Ministry of Finance’s Financial Intelligence Unit (FIU) issued a notice to Binance, Huobi, Kraken, Gate.io, KuCoin, Bitstamp, MEXC Global, Bittrex and Bitfinex for illegally operating in India.
The FIU notice said that any exchange offering services to Indian users must register as a “reporting entity” and file statements with the income tax department. The FIU had recommended that the Ministry of Electronics and Information Technology block the mentioned exchanges’ websites for noncompliance. 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.
