x
Image Source: Pixabay
12 crypto experts’ tips for companies working with tokenized assets
As the idea of tokenizing assets continues to gain momentum, companies must keep regulatory compliance in mind.
For many consumers, dealing with certain industries — including finance and real estate — is a frustrating experience due to the vast amount of paperwork and red tape that comes with carrying out a transaction. Not surprisingly, the crypto industry has a tech-forward solution: tokenization. By representing real-world assets such as real estate, art, stocks and bonds — essentially, anything — as tokens on a blockchain, transactional parties can more easily trade, transfer and manage assets. The percentage of tokens owned by an individual represents their percentage stake in the underlying asset.
It’s a simple enough solution — but as is often the case in the crypto industry, the complication comes with regulatory compliance. In the United States in particular, there is still little clarity around the tokenization of RWAs, and regulations are likely to emerge and evolve in coming years. Below, 12 members of Cointelegraph Innovation Circle share their tips for companies currently offering, or contemplating offering, an asset tokenization service. Read More
What is the CryptoNight mining algorithm, and how does it work?
Mining algorithms are the backbone of blockchain-based networks like Bitcoin and other protocols.
In blockchain technology, mining algorithms are necessary for transaction verification and network security. A mining algorithm instructs miners’ computers to follow a set of rules to generate a valid block.
Proof-of-work (PoW) is the well-known consensus algorithm used by Bitcoin and other cryptocurrencies. In PoW, miners compete using computational power to find a specific hash value that will give them the new block. Application-specific integrated circuits (ASICs) are the specialized hardware necessary for miners to be competitive in such an energy-intensive process, but before ASICs, lower-scale CPU and GPU mining equipment was utilized by users at home.
ASIC mining primarily uses the SHA-256 hash function, which was designed by the United States National Security Agency (NSA) and published in 2001 as a data integrity standard. Bitcoin uses SHA-256 to ensure maximum security and integrity, as the slightest change to the algorithm would alter the mining hash function output. Read More
Why X Is the Future of Crypto Growth
When we think of social media, certain names immediately come to mind – Facebook, Instagram and TikTok, among others.
These platforms have been at the forefront of our digital lives for years, connecting people, allowing them to share stories and shaping our online experiences.
But in recent times, there’s one platform that has not only disrupted the social media space but has also become a driving force in the world of cryptocurrencies and Web 3.0. That platform is X (formerly known as Twitter).
In this op-ed, let’s dissect what exactly sets X apart in a class of its own as the indisputable key to the future of crypto growth.
We’ll explore how X has evolved in recent times, its ambitious plans for cryptocurrency integration, and why it has become an invaluable tool for Web 3.0 brands. Read More
This security tool can detect honeypots and other Web3 scams
Honeypot scams can cause significant losses. The latest antivirus update has the ability to detect not only honeypots but also various other scams in the Web3 space.
As the Web3 world evolves, so too do scam techniques. As crypto literacy continues to grow among all demographics, scammers are developing new approaches and refining old tricks to bilk victims out of their assets.
One of the newer schemes is referred to as the honeypot scam. This tactic may have a soft name, but can create severe losses.
How does a honeypot scam work?
The term “honeypot” is commonly used in cybersecurity to describe a deceptive setup designed to attract individuals.
Honeypot scams include several fraudulent schemes. One of them involves smart contracts that feign a design flaw that allows any user to extract Ether — Ethereum’s native currency — from the contract by sending a certain amount of Ether in advance. However, when a user attempts to exploit this apparent vulnerability, a hidden trapdoor, unbeknownst to the user, thwarts the attempted Ether siphoning. The primary goal is to focus the user’s attention solely on the visible vulnerability, while hiding any evidence of a secondary vulnerability within the contract. Read More
Staying ahead of the curve is crucial in the dynamic and ever-changing business world. In the modern business landscape, innovation and technology act as guiding forces, shaping how companies engage with their audiences and forge connections. In this era of constant evolution, a powerful synergy has emerged between two groundbreaking concepts: inbound marketing and blockchain technology. This convergence is rewriting the rules of engagement and presenting companies with unprecedented opportunities to carve out a competitive edge.
Gone are the days when traditional marketing methodologies ruled the roost. The one-size-fits-all approach of old-school marketing campaigns is gradually being replaced by a more interactive, personalized, and customer-centric approach. Inbound marketing is not just a strategy; it's a philosophy that revolves around attracting, engaging, and delighting customers by delivering valuable and relevant content. It's about creating a genuine connection with your audience, addressing their pain points, and offering solutions that resonate personally.
Amidst this transformative landscape, a standout player emerges: Markethive. This innovative ecosystem stands at the crossroads of the inbound marketing revolution and the blockchain evolution. Markethive's unique proposition lies in its ability to seamlessly fuse the principles of inbound marketing with the cutting-edge potential of blockchain. By doing so, it offers a comprehensive system that empowers businesses to connect with their target audience and build lasting relationships based on trust and transparency. Read More
.png)
China May Be Reversing Its Anti-Crypto Stance: Chainalysis
Hong Kong has seen a surge in cryptocurrency activity that rivals mainland China.
China could be contemplating a crypto comeback as one of the nation’s close neighbors adopts a more welcoming stance toward blockchain at large.
In a newly published report, blockchain data platform Chainalysis found that recent crypto volume transferred to Hong Kong has rivaled that transferred to mainland China over the past year, despite hosting only 0.5% of the latter’s population.
“Hong Kong is an extremely active crypto market by raw transaction volume, with an estimated $64.0 billion in crypto received between July 2022 and June 2023,” wrote Chainalysis in an excerpt from its 2023 Geography of Cryptocurrency Report. By comparison, China received $86.4 billion in transactions over the same period.
While China enacted a series of bans on all things crypto in 2021, Hong Kong is now actively promoting Web3 development. The region adopted a policy framework that subjects similar crypto and TradFi services to the same regulatory standards in June, and provided its first retail crypto exchange licence to HashKey in August. Read More
Crypto Exchange Bybit Launches Derivatives Products in South Africa
Bybit announced on Oct. 2 that it will be offering its crypto derivatives products in South Africa through Money Doc which acts as the crypto exchange’s “juristic representative.” The crypto exchange said its on-ramp service enables South African users to make deposits in local currency via bank transfers.
Bybit’s ‘Juristic Representative’
Bybit, the United Arab Emirates (UAE)-based cryptocurrency exchange, announced on Oct. 2 that it had officially launched its crypto derivative products and a new fiat on-ramp service in South Africa. The crypto exchange said it will offer these services via its Money Doc (Proprietary) Limited, which acts as Bybit’s “juristic representative.”
In a statement, the crypto exchange revealed that Money Doc is an authorized financial services provider and a registered South African company. As reported by Bitcoin.com News almost a year ago, crypto asset service providers operating in South Africa must have a financial product service provider licence from regulators. Read More
Ripple Gains Major Payments Institution License from Singapore's Monetary Authority
Ripple's Singapore subsidiary, Ripple Markets APAC Pte Ltd, has successfully secured its MPI license for digital payment tokens (DPTs) from the MAS. The license comes on the heels of the regulatory body's in-principle approval of Ripple's application in June 2023. Singapore has been a pioneer in establishing a robust regulatory framework for DPTs through its Payment Services Act. This license enables Ripple to continue offering regulated digital payment token services in Singapore, a market that has been pivotal for the company's global operations.
Ripple's license acquisition is part of a broader trend of regulatory approvals in Singapore. GSR Markets Pte. Ltd. received In-Principle Approval for an MPI license on October 2, 2023. Coinbase Singapore, Circle, Blockchain.com, and Crypto.com have also secured full MPI licenses this year. These approvals underscore the competitive yet regulated environment in Singapore, which is rapidly becoming a global hub for blockchain and crypto enterprises. The series of approvals from MAS highlights the city-state's commitment to fostering a vibrant but well-regulated digital asset ecosystem.
Brad Garlinghouse, CEO of Ripple, highlighted the strategic significance of Singapore for the company. "Since establishing Singapore as our Asia Pacific headquarters in 2017, the country has been pivotal to Ripple’s global business," he stated. Read More
Shielding Your Digital Realm: How to Protect Yourself and Crypto From SIM Swap Attacks
In 2023, several SIM swap attacks have targeted cryptocurrency advocates and high-profile industry members, including Ethereum co-founder Vitalik Buterin. Below is a comprehensive guide aimed at educating our readers on mitigating SIM swap attacks and safeguarding against hacks.
Understanding the Threat: Unmasking SIM Swap Attacks
Recently, Bitcoin.com News reported that Ethereum co-founder Vitalik Buterin fell victim to a SIM swap attack. Moreover, this week, an Ethereum (ETH) investor suffered a SIM swap attack, losing 22 ETH on the friend.tech blockchain social media platform, which operates on the Base network. Unfortunately, a significant number of SIM swap attacks are targeting crypto investors. The subsequent walkthrough will guide our readers on how to avert a SIM swap attack.
So, what is a SIM swap attack? A SIM swap attack is a type of fraud in which a malicious actor deceives a mobile carrier into transferring the victim’s phone number to a new SIM card controlled by the attacker. Once the phone number is transferred, the attacker can receive the victim’s calls and text messages, including sensitive authentication codes sent via SMS for two-factor authentication (2FA). 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.
