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Ethereum Network Suffers Finality Issues—Here’s What That Means
Ethereum has suffered a potentially serious technical issue for the second straight day, prompting confusion among crypto users.
Ethereum, the world’s second-largest blockchain by cryptocurrency market cap, suffered a technical issue on Friday, causing its network to halt finalizing blocks for more than an hour.
Finality takes roughly 15 minutes and refers to the guarantee that a block cannot be altered or removed from the blockchain without burning at least 33% of the total staked ETH, according to the Ethereum Foundation.
The network lost finality for roughly an hour midday Friday, in what appears to be the second issue of its kind in 24 hours. On Thursday, blocks were being proposed but not validated during a 25-minute window on Thursday.
The cause of these outages still remains unclear, which has spurred many in the crypto community to take to social media to discuss and try to figure out what went wrong. Read More
Cardano DeFi Taking Off As ADA-Backed Stablecoin Djed Unlocks Opportunities: Input Output Global
Cardano’s (ADA) decentralized finance (DeFi) ecosystem is evolving rapidly on the back of recent developments, according to the Ethereum (ETH) rival’s developers.
In a new update, Cardano developer Input Output Global (IOG) says that the introduction of ADA-backed stablecoin Djed has helped the DeFi ecosystem expand greatly as of late.
Djed, created by the payments platform COTI Network (COTI), went live at the beginning of this year.
“Working with other blockchains, writing smart contracts in Plutus, handling more tasks, and a more resilient Cardano network are all stages in developing a finance system that can be used by anyone, anywhere. Another piece of the decentralized financial (DeFi) jigsaw was added when Djed, a stablecoin on Cardano, went live at the end of January. Within a day, Djed attracted 27 million ADA in backing and was available on exchanges such as MinSwap, MuesliSwap, and Wingriders.
Six ADA back each Djed to help keep the coin’s price stable. That backing will unlock DeFi opportunities for the Cardano ecosystem, as well as Djed being used for settling payments and covering fees.” Read More
What’s next for NFTs and Web3 in the age of the creator economy?
The advantage of Web3 is that it grants users ownership of their data. Creators will be able to treat their data as their own personal property and be paid for whatever content they create, and others consume.
A recent report from The Influencer’s Club suggests that the creator economy was worth over $100 billion in 2022 and continues growing. Recent trends appear to back this up, with YouTube expanding to Shorts, TikTok’s launch of Pulse and Facebook pushing content with Reels.
The creator economy is expanding in other ways too, with the use of artificial intelligence tools like ChatGPT and DALL-E to generate content, the rise of live streaming platforms like Twitch and growing interest in podcasting.
However, creators face a number of challenges that will likely become more severe as the economy grows. One of the major problems is that creators often find themselves locked in centralized platforms such as Instagram and YouTube, held hostage by algorithms that determine the reach of their content. Meanwhile, the vast majority of creators struggle to generate much income from their work.
With the emergence of Web3 technologies like cryptocurrency and non-fungible tokens, creators have an opportunity to break free of their reliance on centralized platforms, gain full control of the content they create and establish direct relationships with their fans. Read More
Polygon-based Crypto Lender Atlendis Taps Fintech Banxa in New V2 Roll Out
Uncollateralized lending protocol Atlendis is launching its V2, onboarding publicly-traded fintech Banxa as a new borrowing partner.
Atlendis, a Polygon-based uncollateralized lending platform, it’s launching its latest iteration, adding a host of new features and key crypto on-ramp along the way.
The protocol offers credit lines for institutional borrowers, and users can act as pooled lenders for such borrowers, earning interest payments and additional DeFi rewards.
Crucially, Atlantis addresses one of the key weaknesses in the crypto space: Uncollateralized lending.
Projects like Aave or MakerDAO, for example, also provide loans to users, but these loans are typically overcollateralized, meaning that you need to post more collateral than you’ll get in the loan. Instead, Atlantis, much like a bank, offers loans without any collateral needed.
Borrowers still do undergo a creditworthiness check too via a partnership with Credora. Read More
What Does The Wallet Do? What Does It Mean For You?
The launch of the Markethive wallet is approaching, so it’s time to start beating the proverbial drum. It is the start of an exciting time with the advent of many integrations to follow the release of the wallet that will bring Markethive into prominence as an unprecedented platform. The combination of inbound marketing, social media, digital broadcasting, video, conference rooms, e-commerce, gamification, etc.
Markethive is a blockchain-driven crypto economy, all-inclusive, with a distributed database system required for this decentralized, monolithic global project. We’re almost there with the release of the wallet that will initiate entrepreneurial sovereignty and open the floodgates of this divine enterprise with its plethora of systems and services, including the new interface and dashboard.
We now have a complete working wallet with the Solana Network, and we also have a fully functional crypto merchant account. The Markethive wallet is being polished with the finishing touches, keeping mindful that it’s not just a simple wallet but a comprehensive, dynamic engine centralized for you that powers your platform and business.
Markethive is fundamentally a sophisticated inbound marketing and storefront platform, integrated with a social network, and not just another social media platform you see popping up to counter the media tech giants we’ve come to know as oppressive, censoring you and using your personal data for their own gain. Read More
Lightning Labs launches updated protocol to help solve Bitcoin’s BRC-20 issues
Lightning Labs has unveiled a new solution to the clunky process of minting new assets on the Bitcoin network.
Bitcoin users have been given a possibly more efficient way to mint new assets on the blockchain after an updated edition of the recently-rebranded Taproot Assets Protocol was released by Lightning Labs.
In a May 16 blog post, Lightning Network infrastructure firm Lighting Labs criticized the current methods by which assets are inscribed on the Bitcoin blockchain, calling them “particularly inefficient” and pointed to cumbersome protocols that write asset metadata “directly into block space.”
The Taproot Assets Protocol is designed to operate “maximally off-chain” in order to avoid the network congestion that has become an unfortunate characteristic of the Bitcoin network since the inception of the BRC-20 token standard by anonymous developer “Domo” on March 8.
Lightning Labs said Protocol users could soon integrate BRC-20 assets into the Lightning Network, with wallets, exchanges and merchants ported, over instead of needing to “bootstrap a new ecosystem” from scratch. Read More
Can you recover stolen Bitcoin from crypto scams?
Recovering stolen Bitcoin from crypto scams is challenging due to the anonymous nature of blockchain transactions and jurisdictional issues.
The process of recovering stolen Bitcoin from cryptocurrency scams is difficult and complex. The prevalence of cryptocurrencies has led to an increase in scams and other fraudulent practices that prey on the gullible. Numerous people have suffered significant financial losses as a result of falling for different crypto scams, such as phishing, rug pulls and hacker attacks.
Although cryptocurrencies like Bitcoin’s decentralized and pseudonymous structure have some benefits, they also create major obstacles for recovering stolen funds. This article will delve into the various methods and potential avenues for recovering stolen Bitcoin and explore the important factors to consider in the process.
Understanding the landscape of DeFi scams:
As already noted, there are many different types of decentralized finance (DeFi) scams, including phishing scams, rug pulls and social media scams. To trick and take advantage of gullible people, scammers use strategies such as impersonation, bogus websites and misleading investment possibilities.
These frauds have an enormous effect, leading to monetary losses, compromising personal data and diminishing confidence in the cryptocurrency sector. To avoid being a victim of fraud, it is crucial to be aware of these frauds and comprehend their strategies. Read More
Crypto community reacts to Ledger wallet’s secret recovery phrase service
Many members of the crypto community believe Ledger’s latest seed phrase recovery feature is a bad idea.
Several crypto community members, including Ledger wallet owners, have taken to social media to express their discontent following the release of Ledger’s latest feature. The newly introduced retrieval solution for its hardware crypto wallets, known as Ledger Recover, aims to offer a safeguard in case users misplace their seed phrase.
Ledger Recover is a subscription service that allows users to utilize an additional layer of protection for their private keys. This service employs a technique where the user’s seed phrase is divided into three encrypted fragments, each sent to different external entities. Once these fragments are combined and decrypted, they can be used to reconstruct the original seed phrase.
The wallet provider shared that Ledger Recover is an optional subscription for users who want to back up their secret recovery phrase. “You don’t have to use it, and can continue managing your recovery phrase yourself if that’s why you bought a Ledger,” the company explained.
Nevertheless, the concept has enraged many in the crypto community, including security specialists. Read More
'Backdoor' in Ledger? Here's What's Going On—And How to Keep Your Crypto Safe
Even though the update is optional, Ledger owners are still unsettled over what it means for the hardware wallet company's security.
A contentious new feature has been added onto all Ledger hardware wallet devices. On Tuesday morning, the announcement had Crypto Twitter buzzing.
Although advertised several weeks back in a Wired article, today’s release brought the fire from the crypto community. The feature in question is Ledger Recovery, an ID-based private key recovery service would allow users to backup their private seed phrase directly to their personal identity through three different custodians. The service will cost $9.99 per month.
A seed phrase is a list of words which store all the information needed to recover the cryptocurrency in your hardware wallet, if it’s lost or stolen. But remembering the 12-word phrase—typically made up of random words—can be challenging. So most people either write it down or store it in a flash drive, or other storage device.
Despite the company adamantly stating that this is a voluntary service, and users can continue to back up their seed phrases themselves, Ledger owners are still unsettled over what this means for the hardware wallet company's security. 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.
