x
Image Source: Pixabay
Bitcoin Self-Custody Enshrined As a Right In Oklahoma
A novel crypto bill protects citizens’ rights to hold, spend, and mine Bitcoin—as long as they do it quietly.
Oklahoma has become the first U.S. state to pass a law protecting the right to self-custody Bitcoin.
The new law says citizens cannot be prevented from holding and controlling digital assets using a hardware wallet. It also says that the state government cannot ban or restrict the use of crypto to purchase legal goods and services.
The so-called ‘Bitcoin Rights’ bill—HB3594—was signed into law by Oklahoma’s Republican governor Kevin Stitt Monday, and the non-profit Satoshi Action Fund says more states will follow suit. Read More
How and where to view crypto transaction histories
Learn how to track cryptocurrency transaction histories, with detailed steps to help navigate and understand crypto transactions.
Each transaction on the blockchain incurs a transaction fee based on a tiered pricing structure, meaning fees are determined by transaction size or network activity levels. These fees can vary significantly, making it important to monitor crypto transactions closely. A user can identify patterns and develop strategies to minimize costs by analyzing transaction history. Viewing transaction history can help with tracking and transaction analysis.
A cryptocurrency holder can perform transaction tracking in various ways, such as utilizing the search function on a blockchain explorer. This article provides a step-by-step guide on checking crypto transaction logs and where to find the historical data, which is crucial for transaction analysis. Read More
Adaptive Blocksize Limit Algorithm Goes Live on Bitcoin Cash Network
Bitcoin Cash has successfully completed the chain’s latest upgrade, which introduced “ac-0353f40e,” otherwise known as the adaptive blocksize limit (ABL) algorithm. The implementation aims to automatically adjust the block size limit using a specialized algorithm. This change aims to streamline the process of resizing the block limit in response to the actual transaction load on the network, eliminating the need for manual consensus, which can be both time-consuming and vulnerable to social attacks.
Since 2015, large block supporters have argued that increasing the block size limit is essential for scaling the network and achieving widespread adoption as a peer-to-peer electronic cash system. ‘Big blockers’ believe the original vision of Bitcoin, as outlined by Satoshi Nakamoto, emphasized low transaction fees and fast confirmations, which larger blocks can facilitate by accommodating more transactions per block. Proponents further contend that the 1MB block size limit in Bitcoin creates a bottleneck, leading to higher fees and slower transactions, making it less practical for everyday use.
By increasing the block size, Bitcoin Cash aims to provide a more efficient and scalable solution, ensuring that it remains accessible and practical for global transactions. Read More
A Glimpse into the World of Crypto Exchange Revenue. Decentralized Exchanges Emerge, including Markethive's Latest Vision. It just makes sense.
The popularity of cryptocurrency exchanges has skyrocketed in recent years, with a massive influx of users globally utilizing these platforms to purchase, sell, and exchange digital assets. The rise of cryptocurrencies has brought about a peculiar phenomenon where centralized exchanges hold a dominant position in various aspects, including profitability, usage, stature, and innovation, with examples such as perpetual swaps, a derivative product pioneered in the crypto space. Meanwhile, decentralized exchanges (DEXs) have introduced innovations like automated market makers (AMMs) to the landscape.
In a previous article, we reviewed how crypto trading exchanges made money and, for the first time, surpassed the traditional stock exchanges in 2021. Now, we’ll outline some of the leading centralized crypto exchanges’ revenue and ponder the emergence of decentralized crypto exchanges, which are imperative for security, legitimacy, and autonomy. Read More
Reentrancy attacks in smart contracts, explained
Despite being groundbreaking, smart contracts are not impervious to flaws that malevolent parties could exploit.
Inadequate input validation is a prevalent weakness that enables attackers to affect contract execution by providing unexpected inputs. Furthermore, improper application of business logic might result in vulnerabilities by creating unexpected behaviors or logical gaps in the contract. Furthermore, if handled improperly, insecure external calls — such as those involving interfaces with external data sources or other contracts — can pose vulnerabilities.
Reentrancy attacks are weaknesses that occur when a contract calls another contract externally before completing its own state changes. This allows the called contract to re-enter the calling contract and maybe carry out some of its operations again. This may result in unanticipated actions and allow attackers to alter the contract’s state, thereby depleting funds or having other negative effects.
Given the possibility of such attacks, developers should also exercise caution when working with external contracts or data sources, ensuring that external calls are handled correctly to avoid unexpected behaviors and vulnerabilities. They can assist in protecting smart contracts from evolving threats by paying close attention to security procedures like smart contract testing. Read More
What Is Restaking?
The concept of restaking introduces a groundbreaking way for people to utilize their staked cryptocurrency across various protocols simultaneously. This not only boosts reward potential, but also significantly enhances the security and scalability of blockchain networks, benefiting the entire crypto ecosystem.
A common occurrence In the rapidly evolving world of blockchain technology is the development of new mechanisms and protocols that enhance the efficiency and security of existing and future crypto projects. When projects using these new mechanisms or protocols succeed, it is the entire crypto ecosystem that benefits, not just individual projects.
One such innovative mechanism is restaking, the use of blockchain assets to secure other applications. This article provides an overview of restaking, covering its connection to staking and proof-of-stake (PoS), the mechanics of restaking, the types of restaking, and the associated advantages, disadvantages, and risks. Read More
The significance of privacy in Web3
Privacy has always been an issue in Web2, the internet as we know it today. Users are consistently subjected to instances of identity theft, wanton data harvesting and unsolicited tracking. A 2023 Pew Research report reveals that more than 80% of American adults feel they have no say in how much data the government and private companies collect on them.
However, Web3 brings new hope for data privacy-conscious individuals. Unlike traditional web platforms, Web3 architecture is geared toward enhancing user privacy. But is the promise of Web3 data privacy real, or is it overblown? This article examines the gravity of data sovereignty in Web3.
The main characteristic (and drawback) of Web2 frameworks is data centralization. Big companies like Facebook, Google and Apple collect users’ data and store it in a central repository. Users cannot monitor it and have little say over its usage, ceding near total control to the companies and the government to use the data as they will.
On the other hand, the foundations of Web3 tout it as the decentralized version of the internet, promising secure data exchange since the notion of security and data privacy is hard-baked into its architecture. Read More
Unleashing the Power of Force Multipliers: How Markethive Amplifies Your Business Success
Entrepreneurs encounter many challenges that can impede their businesses' progress and prosperity. However, force multipliers such as technology, tactics, resources, software, and partnerships can enhance effectiveness and achieve significant results even with limited resources. Markethive, a social neural network, provides a range of force multipliers, including information and content sharing, user-generated content, blockchain technology, storefronts, campaigns, brand ambassadors, awareness of the market, and network connectivity. These force multipliers can expand a business's reach, influence, and development, making Markethive an invaluable asset for entrepreneurs.
The challenges that entrepreneurs encounter can hinder their businesses' long-term success and growth. One common obstacle is figuring out how to effectively utilize the limited resources at their disposal, whether time or money, to achieve the most significant impact and profitability. This is where force multipliers come into play. It is essential to understand what force multipliers are and how powerful they are in addressing these challenges. Read More
Open finance vs. Decentralized finance
Powered by innovation, the financial sector is undergoing a profound transformation, with open finance and decentralized finance emerging as powerful tools for a more transparent and accessible future.
Decentralized finance (DeFi) is a subset of the broader concept of open finance and is a developing area of financial technology that is built on distributed ledgers akin to those found in cryptocurrencies. It employs newly developed technology to eliminate third parties and centralized organizations from financial transactions.
Using peer-to-peer financial networks, DeFi leverages security protocols, software and hardware advancements. By utilizing cryptocurrencies and software, DeFi eliminates the need for intermediaries such as banks and other financial service providers and allows people to transact financially with each other through blockchain technology.
DeFi is often considered an innovation over traditional financial institutions, empowering participants through platforms such as Aave, Uniswap and MakerDAO. The development of DeFi on blockchain technology and smart contracts can create a new level of financial freedom, independence and innovation that has never been seen before. Read More
Polkadot's JAM: Dr. Gavin Wood's Next Step in Blockchain Scalability
Dr. Gavin Wood, co-founder of Ethereum, is taking blockchain scalability to the next level with his creation of JAM, following his previous project, Polkadot.
Dr. Gavin Wood, co-founder of Ethereum, has been a significant contributor to the advancement of blockchain technology. His groundbreaking project, Polkadot, aimed to tackle scalability, interoperability, and governance challenges in the blockchain space. Polkadot's heterogeneous multi-chain network architecture allowed specialized blockchains, known as parachains, to connect seamlessly to the relay chain. This fostered a vibrant ecosystem of interconnected blockchains, marking a significant leap in blockchain scalability.
Now, Gavin Wood is set to take blockchain scalability even further with his latest project, JAM. Short for Join-Accumulate Machine, JAM is designed to succeed Polkadot’s relay chain. This new project aims to streamline blockchain upgrades, consolidating multiple breaking changes into a singular transition. JAM introduces the concept of rollup chains, which are specialized in handling specific domains like roll-ups. These chains ensure security and efficiency similar to Polkadot’s Relay Chain, while also sharing similarities with smart contract chains. 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.
