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Cybersecurity team claims up to $2.1B in crypto stored in old wallets is at risk
The security firm urges those using web browser wallets generated from 2011 to 2015 to transfer their assets to crypto wallets that were generated more recently.
While the crypto community is still weathering the effects of the recent $100 million Poloniex hack, another cybersecurity threat that could affect billions worth of crypto assets has been discovered by a team of blockchain security experts.
On Nov. 14, cybersecurity company Unciphered released information on a vulnerability that it called “Randstorm,” which it claims to affect millions of crypto wallets that were generated using web browsers from 2011 to 2015.
According to the firm, while working to retrieve a Bitcoin wallet, it discovered a potential issue for wallets generated by BitcoinJS and derivative projects. The issue could affect millions of wallets and around $2.1 billion in crypto assets, according to the cybersecurity company. Read More
Ethereum’s rollups are ‘gold standard’ but Plasma needs a revisit — Buterin
Vitalik Buterin called the early Ethereum scaling solution Plasma “underrated” and a “significant security upgrade” for chains that would otherwise be validiums.
Plasma, a once-prominent Ethereum layer-2 scaling solution, should be revisited by teams currently working on zero-knowledge (ZK) Ethereum Virtual Machines (EVMs), said Ethereum co-founder Vitalik Buterin.
Invented in 2017, Plasma diverts data and computation — except deposits, withdrawals and Merkle roots — to an off-chain environment.
It was superseded by optimistic and ZK-rollups as the two solutions offered cheaper client-side data storage costs and security properties that “cannot be matched,” Buterin explained in a Nov. 14 X (Twitter) post.
Buterin said rollups remain the “gold standard,” but Plasma is an “underrated design space” that shouldn’t be forgotten. Read More
Billionaire Frank McCourt: 'Dodgy Cryptocurrencies and Silly NFTs' Have Spoiled Blockchain's Narrative
The billionaire real estate developer took to the stage at Web Summit to unveil a manifesto for a "better web."
Billionaire real estate developer Frank McCourt took aim at "dodgy cryptocurrencies and silly NFTs" for spoiling the narrative around blockchain.
Speaking at Web Summit 2023, McCourt noted that his own project, open internet protocol or Decentralized Social Network Protocol (DSNP), was not tokenized. "Dodgy cryptocurrencies and silly NFTs are not the same as core technology that can actually help make the internet better for us," he said, adding that "the narrative has been spoiled somewhat."
Blockchain has the potential to "fix the internet," he said. "And by fix, I mean identity, provenance, verifiable attributes, attestation. Those are the things actually the blockchain does extremely well: immutable fact, non-corruptible information." Read More
Ripple Partners With Onafriq to Enable Faster Cross Border Payments to Africa
Ripple and the Africa-focused payment fintech startup Onafriq recently said they are collaborating to enable crypto-based cross-border payments between Africa and the Gulf Cooperation Council (GCC), the U.K., and Australia. Using Ripple’s platform helps Onafriq achieve its goal of making borders “matter less when it comes to payment within, to, and from Africa.”
Accelerating Financial Inclusion:
Ripple, a provider of crypto solutions for businesses, and the Africa-focused payment fintech firm Onafriq recently said they are collaborating to enable crypto-based cross-border payments between Africa and the Gulf Cooperation Council (GCC), the U.K. and Australia. Their collaboration not only brings faster and more efficient international money transfers to Africa, but it also accelerates financial inclusion across the continent.
According to a press release, this partnership arrangement makes it possible for Payangel customers in the UK, Pyypl clients in the GCC, and Zazi Transfer users in Australia to send remittances to recipients across 27 countries. Read More
Innovations that will change the way we work and interact online.
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There is nothing out there like Markethive. We are an Inbound Marketing (automated marketing platform) like Marketo, Paragon, and even the wannabee MLM Onpassive platform. We are like YouTube, Instagram, LinkedIn, Twitter, etc., but will be superior to these legacy Web 2 media when we release all the aspects and layout of Markethive 2.0.
We have a dynamic social media interface and growing community with a strong collaborative ethos, with SaaS and broadcasting capabilities already operational. We are not waiting for the launch to access the services; they are already there for you to use to help you facilitate your business and increase your reach and following.
Markethive is enhancing and bringing the platform into the future internet with our new technology and interfaces, but still in keeping with the human touch. Read More
Business2Community: Cryptocurrency Adoption Soars in Emerging Markets
The unprecedented growth of digital assets in emerging economies has been nothing short of remarkable in recent years, signalling a paradigm shift in the global financial landscape. Emerging markets have shown a substantial increase in cryptocurrency adoption and transactions.
This surge can be attributed to several factors, including limited access to traditional banking services, high levels of remittances, and concerns about currency devaluation. For instance, the World Bank reported that approximately 1.7 billion adults remain unbanked globally, with a significant portion residing in emerging economies. Cryptocurrencies provide an avenue for these individuals to access financial services and participate in the global economy.
Moreover, the rise in remittance flows to emerging economies has propelled cryptocurrency adoption. Read More
Uniswap Labs Rolls Out New Crypto Wallet to 430,000 New Android Users
The team behind the top decentralized exchange (DEX) by trading volume is unveiling the Android version of its new crypto wallet.
Uniswap Labs, the creators of Uniswap (UNI), says in a new announcement that it’s dropping a new crypto wallet for Apple iOS software competitor Android.
Uniswap says the new wallet is “built for swapping,” protects against MEV (maximum extractable value) attacks, and provides support across eight different chains in six languages and 18 currencies.
According to Uniswap, the 430,000 Android beta testers of the app will not need to re-download the wallet app. Read More
Layer 2 networks hit $13B TVL, but challenges still remain
Data from L2Beat shows that layer 2s are seeing greater adoption than ever before as users continue to desire lower gas fees.
Ethereum layer-2 networks reached a new milestone on Nov. 10, reaching $13 billion of total value locked (TVL) within their contracts, according to data from blockchain analytics platform L2Beat. According to industry experts, this trend of greater interest in layer 2s is likely to continue, although some challenges remain, especially in the realms of user experience and security.
According to L2Beat, 32 different networks qualify as an Ethereum layer 2, including Arbitrum One, Optimism, Base, Polygon zkEVM, Metis and others. Prior to June 15, all of these networks combined had less than $10 billion of cryptocurrency locked within their contracts, and their combined TVL had been declining since April’s high of $11.8 billion.
But beginning on June 15, layer-2 TVL growth turned positive. And by Oct. 31, these networks had reached a new high of nearly $12 billion combined TVL. Read More
Solana jumps 20% as Cathie Wood lauds its speed and cost over Ethereum
Solana has drastically outperformed other major crypto assets, gaining nearly 200% in the last month.
Solana’s SOL has reached new yearly highs, gaining more than 17% the day after ARK Invest CEO Cathie Wood lauded the network for its efficiency and cost-effectiveness.
In a Nov. 15 CNBC interview, Wood described the Solana network as a major infrastructure player in the wider blockchain ecosystem and added that it had been doing a “really good job” in recent market conditions.
Wood praised the Solana network for being faster and more efficient than the Ethereum network.
“Ether was faster and cheaper than Bitcoin in the day — that’s how we got Ether. Solana is even faster and cost-effective than Ether.”
Wood spoke of Ethereum and Solana as important additions to the blockchain ecosystem, describing them as crucial infrastructure layers — capable of more real-world applications than Bitcoin. 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.
