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How to connect the Avalanche network to MetaMask?
Avalanche users can enjoy Ethereum Web3 and DeFi applications by connecting the network to MetaMask. Here’s a step-by-step guide to doing it.
One of the main properties advanced in blockchain technology is interoperability, the art of different blockchains communicating with one another. Interoperability is crucial when it comes to exchanging data and assets such as nonfungible tokens (NFTs) or cryptocurrencies while enjoying the best of two or more platforms to save on fees, for example, or transact faster.
The Avalanche blockchain is an interoperable, versatile platform and cryptocurrency network that addresses scalability, security and decentralization issues with a unique proof-of-stake (PoS) governance type. It was developed by Ava Labs, a New York-based research and development company, to launch decentralized finance (DeFi) and enterprise blockchain applications.
It is powered by its native token, and has smart contract functionality that puts it in direct competition with Ethereum. The PoS platform’s smart contracts primarily support decentralized applications (DApps) and autonomous blockchains with fast transaction processing times, a reward structure incentivizing participation, and advanced interoperability.
Avalanche interaction with Ethereum and its DeFi ecosystems is facilitated by the crypto wallet MetaMask, a software that as many as 10 million people use. Read More
Why Ethereum Bulls Are Turning to LSD
Liquid-staking derivatives are the hottest thing as Ethereum devs gear up for the Shanghai network update.
Since executing the merge last September, Ethereum has swapped to a proof-of-stake (PoS) consensus mechanism. This means no more power-hungry mining machines, and, in their place, so-called validators. Validators and miners effectively do the same thing, verifying transactions and ensuring little on-chain mischief occurs.
Still, validators can be better distributed than miners due to their lower cost of capital and maintenance. Instead of having to buy out a multi-million-dollar mining farm somewhere in Siberia and hiring a team of engineers to keep those miners running non-stop, all you need to become a validator is 32 ETH and the know-how to keep a single node connected to the Ethereum network at all times.
32 ETH, though, is still roughly $45,000 at press time, so it’s a hefty sum. And that’s where these LSD projects come into play.
They let you stake any amount of Ethereum you can afford. In exchange, they’ll give you another token (Lido’s staked ETH token is called “stETH,” for example) that can be put to use elsewhere. Read More
Google Ads-delivered malware drains NFT influencer’s entire crypto wallet
A sponsored advertising link on Google hid malware that siphoned thousands of dollars worth of crypto and NFTs from an influencer’s wallet.
An NFT influencer claims to have lost “a life-changing amount” of their net worth in nonfungible tokens (NFTs) and crypto after accidentally downloading malicious software found via a Google Ad search result.
The pseudo-anonymous influencer known on Twitter as “NFT God” posted a series of tweets on Jan. 14 describing how his “entire digital livelihood” came under attack including a compromise of his crypto wallet and multiple online accounts.
NFT God, known also as “Alex,” said he used Google's search engine to download OBS, an open-source video streaming software. But instead of clicking on the official website, he clicked the sponsored advertisement for what he thought was the same thing.
It wasn’t until hours later — after a series of phishing tweets posted by attackers on two Twitter accounts that Alex operates — that he realized malware was downloaded from the sponsored advertisement alongside the software he wanted.
Following a message from an acquaintance, Alex noticed his crypto wallet was also compromised. The next day, attackers breached his Substack account and sent phishing emails to his 16,000 subscribers. Read More
Polygon primed for hard fork aimed at reducing gas fee spikes: New details revealed
Polygon told Cointelegraph that the hard fork will take effect at block 38,189,056, which will be initiated without the influence of centralized actors.
Ethereum layer-2 scaling solution Polygon will undergo a hard fork on Jan. 17 in order to address gas spikes and chain reorganization issues that have affected user experience on the Polygon proof-of-stake (PoS) chain.
Polygon officially confirmed the hard fork event on Jan. 12 in a blog post, which came after weeks of preliminary discussion on the Polygon Improvement Proposal (PIP) forum page in late December.
A Polygon spokesperson also provided Cointelegraph with additional details of the hard fork on Jan. 14:
“The hard fork is coded for the Block >= 38,189,056. No centralized, single actor is going to initiate it. Validators of the network have to update their nodes prior to the indicated block, and they are already doing so.”
87% of the 15 voters of the Polygon Governance Team voted in favor of increasing the BaseFeeChangeDenominator function from 8 to 16 to reduce gas fee spikes and to decrease the SprintLength function from 64 blocks to 16 in order to fix the chain reorganization problem.
In addressing the gas spike issue, the Polygon Team explained that because the base fee price often “experiences exponential spikes” when on-chain activity increases rapidly, by increasing the denominator from 8 to 16, they believe “the growth curve can be flattened” and thus “smooth severe fluctuations” in gas prices. Read More
We have a lot to be grateful for within Markethive. It’s like stepping out of the rat race into an oasis of humanity at its best. As an inbound marketing, business-based blockchain platform with an inherent entrepreneurial spirit, we have all the tools to get our message out to the whole world. We have a social media interface with a collaborative ethos rarely experienced on legacy social media.
We are starting to see new integrations in the blogging section in preparation for the customized, more intuitive interface and dashboard of Markethive and, of course, the Markethive Wallet that will facilitate the Merchant accounts for members as well as personal transactions, the Vault, etc.
The new-look Blogcasting Hub is located at the top of all blogs in the system. Blogcasting is a term introduced by Markethive and is an enhanced broadcasting system. In the traditional broadcasting sense, only the people who physically subscribe to your blog or newsletter are usually notified of your updates via email.
With this blogcasting system, your social networks are informed of your blog as and when you publish them. What this means is the potential reach is into the millions. Read More
Navigating the world of crypto: Tips for avoiding scams
From “pig butchering” to phishing, there are myriad ways that scammers try to take advantage of crypto users.
Despite the belief of many crypto enthusiasts that centralized exchanges (CEXs) are safer, history has often shown them to be rather vulnerable to attacks.
Because these exchanges centralize the storage of users’ assets, they can be attractive targets for cybercriminals. If an exchange’s security measures are inadequate or successfully compromised, user assets may be stolen or lost.
Another risk of centralized exchanges is the potential for fraud or mismanagement by their operators. CEXs may have a single point of control — leaving them more susceptible to insider fraud or other forms of misconduct — which can lead to the loss of funds or other negative consequences for users.
Over the last year, the collapse of major centralized cryptocurrency platforms like FTX and Celsius has led to more users choosing to take self-custody of their digital assets. The risky financial practices and alleged fraud committed at some platforms have caused many people to lose faith in them as safe places to store their cryptocurrency. Read More
CasperLabs: 90% of enterprises are adopting blockchain tech
Despite a difficult past year for crypto and blockchain, new research from web3 platform CasperLabs has found that 87 percent of businesses say they are likely to invest in blockchain in 2023.
‘The State of Enterprise Blockchain Adoption in 2023’ questioned 603 enterprise “decision makers” across firms from the United States, UK, and China.
It found that sentiment towards blockchain remained strong in these countries despite market downturns. On top of the 87 percent that are likely to invest this year, almost 90 percent of businesses said they have already started to use blockchain in some capacity.
Interest was particularly pronounced in China, where more than half of respondents said they are very likely to invest in blockchain this year. This is in part because 81% of the survey’s respondents expect technology budgets to increase in 2023 despite economic issues.
Ralf Kubli, a board member of the Casper Association, said: “It’s hugely encouraging to see businesses understanding that blockchain is not a competitor but a solution.” Read More
Cardano Contributor Teases Major Developments for ADA Payments
Cardano crypto ecosystem contributor and developer Adam Dean has revealed the details of work on CIP-30. The Cardano improvement proposal is needed to bring web page interaction functionality to Cardano-based hot wallets, creating a bridge between crypto asset storage and decentralized applications.
Did I manage to get frontend CIP-30 Cardano wallet integration working in pure jQuery in about 30 minutes or less this afternoon thanks to #Lucid by @berry_ales??? You bet I did! Big things coming for Cardano Mercury for WooCommerce! Stay tuned! #BuildingOnCardano pic.twitter.com/C0nWaK380r
— Adam Dean (@adamKDean) January 16, 2023
One such wallet, in particular, is Cardano Mercury which, among other things, is also a direct payment gateway between the consumer and the vendor for WooCommerce, the largest e-commerce web platform.
As Dean stated, big things in this direction are on their way, which means that, perhaps soon, CIP-30 will be activated, and users of wallets supporting the improvement will be able to pay in ADA for goods and services offered on WooCommerce.
The developer has also revealed a little more about the mechanism. So, if you are a vendor, all you have to do is set the prices in fiat, and then the payments will be automatically credited to ADA, which will then come to your wallet. If you are a buyer and want to pay in ADA, however, the conversion will be reversed, depending on the seller's preference. Read More
What does the future hold for digital assets in 2023?
NFTs, tokenization and blockchain-based cross-border payments will see big paradigm shifts, but their success will depend on regulation, investment and adoption, writes Stephen Richardson of Fireblocks.
This past year was a challenging year for global markets, with crypto markets falling by more than 50% from their peak in 2021. Macroeconomic events, including the tightening of interest rates by central banks around the world to combat rising inflation, as well as a reduced appetite for speculative investments, have caused investors to pull out from the digital asset market in droves and prices to plunge.
Despite these significant headwinds and the volatility in the broader digital asset industry — compounded by the dramatic implosions of overleveraged players such as FTX — it’s important to remember that the industry still made important progress in 2022. This year saw Hong Kong launching its first crypto ETFs, the Australian Treasury driving forward its “token mapping” exercise that will define digital asset regulation and the development of appropriate custody settings to safeguard consumers, and the Indian central bank launching its e-rupee pilot. All of these developments — while not a cure-all panacea — can only serve to benefit the industry in the longer term.
Looking to the year ahead, what trends can we expect to see taking off in the digital assets space in the Asia-Pacific region, and who will be the key players behind these trends? 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.
