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Massive AWS Outage Highlights The Need For True Decentralisation
Yesterday’s AWS outage drove many centralized exchanges to a standstill. The biggest crypto exchanges such as Binance and Coinbase were put offline, along with many others. This begs the question of, don’t we need more decentralization, and can crypto provide this?
Amazon Web Services (AWS) were down for at least half a day yesterday, causing chaos across the internet. The crypto industry was also hit hard. With AWS providing cloud services to around one-third of the entire internet, its monopoly appears to show the dangers of such centralized power.
According to an article on Business Insider India, even DyDx, an exchange dedicated to becoming completely decentralized, was put out of action due to still having too much dependency on the centralized servers provided by AWS. Read More
How Digital Art and NFTs Are Changing the Nature of Ownership
NFTs and digital art are instigating a shift in the arts from a culture of consumption to one of sharing, says ART founder Ulvi Kasimov.
"There is a desire to develop digital experiences that actually feel less transient, hence the blockchain as 'permanence' and the notion of provenance in the digital space," Shane Lavalette and Ashlyn Davis Burns, co-founders of gallery, agency and creative studio Assembly, told Decrypt.
"Surely, we will see more digitally native art find a home at NFTs, as well as artists working to develop more projects that respond to NFTs and blockchain as a medium in and of itself—in fact, this is already happening." Read More
Cardano Ambassador Addresses FUD Surrounding The Project
The Cardano ambassador took to Twitter to address all of the FUDs that have been circling the altcoin in recent weeks. For one, they explain that most of it has been because Cardano presented the only legitimate alternative to the leading smart contracts platform, Ethereum. This leads into the fact that Cardano has often been proposed as an “Ethereum killer” after smart contracts capability has debuted on the blockchain.
They pointed to the network activity that showed that Cardano’s activity has consistently been on the rise in the past few weeks. While Ethereum had maintained momentum in the same time period, Cardano had spiked significantly, pointing to increased adoption. Yet, the market continued to treat the digital asset like it is a failing project. Read More
STREETH: Bringing World's Most Acclaimed Street Artists' Masterworks on the Ethereum Blockchain
Street art can be spotted virtually anywhere in the world, but street artists rarely get the recognition they deserve. That is until STREETH stepped into the scene. With the Covid-19 pandemic, the digital transformation, the growth of the cryptocurrency industry, and now NFTs, the world has had a bit of catching up to do. NFTs have been a welcome addition to the tech world, and they have now bled into other industries, revolutionizing each one.
For a very long time, street art has been regarded as just that. But now, street art is a digital commodity, thanks to STREETH, a blockchain company that is turning these masterpieces into NFTs. STREETH was founded by entrepreneur and marketer Marco Calamassi, who now serves as the CEO, and growth hacking expert Danilo De Rosa, who serves as COO. Before STREETH, Marco has been an investor in blockchain technology since 2015, while Danilo is an art collector and crypto advocate. Together, they saw an opportunity for street art in the growing digital world and made it a reality. Read More
Elrond has combined the scarcity of Bitcoin, the programmability of Ethereum, and the speed of next-generation cryptos, like Solana, to create a cryptocurrency network unlike any other. Elrond is a platform built for internet-scale and capable of processing thousands of transactions per second at $0.001 per transaction, and able to scale to hundreds of thousands with demand.
Elrond’s distinction is being a project with a soul. One that has united forces of an incredibly vibrant community of 190,000 people, spanning 18 languages and in almost 30 countries. Elrond aims to create the backbone for high bandwidth, transparent financial system, and extending universal access to anyone, anywhere.
Elrond’s egold (EGLD) native token has exploded in value over the last year and seems to be poised for more gains. The Blockchain project has been considered under the radar and received very little crypto media exposure until now. Read More
Miami To Monitor Air Quality On Algorand Blockchain
Miami will be deploying air quality monitoring sensors developed by French environmental tech company Planetwatch to transcribe aggregated sensor data to the Algorand Blockchain.
The project will be funded by the $10 million PLANETS fund from Borderless Captial. Planetwatch will build an internet-of-things network of third-party compact air-quality monitors to detect pollution hotspots and power environmental analytics to monitor the city’s air quality. The sensors will be installed throughout the city, including in the homes of some residents, who are being referred to as PlanetWatchers. These residents will be compensated for their contribution to the project with in-app tokens (Planet Tokens or Planets) and rewards on the Algorand network. The tokens can be sold for fiat currency on the open market or converted to Earth Credits to use as an internal currency on the Planetwatch platform. Read More
DeFi lending platform’s integration with Polygon will facilitate efficient token swaps with deep liquidity
A cryptocurrency trading platform plans to radically change the way lenders, borrowers and traders interact with DeFi through its integration with Polygon.
The revolutionary world of decentralized finance comes with its own set of harsh realities. One of them being, the unpredictable nature of yields on lending platforms that are often reliant on real-time market demand and supply dynamics.
To offset the risk involved in permissionless lending, DeFi lending platforms typically require collateral that even exceeds the borrowed amount. Not only does this create an “artificial limit” on-demand for loans, but it also leads to low yields that are exceeded by those offered on centralized platforms.
Moreover, while the premise of decentralized lending was meant to eliminate middlemen that benefit from arbitrage opportunities, the reality is that margin traders on centralized crypto exchanges determine much of the interest rates in DeFi. Read More
This Monero Malware Is Targeting Enterprise Networks
Someone might be mining Monero on your company computer again.
We know, we know: Your blockchain is unassailable. But you still need to update your antivirus software. Otherwise, this Monero miner could eat into your network.
In a new report released today by cybersecurity firm Sophos, which boasts over 500,000 businesses as customers, says a new variant of the Tor2Mine crypto-miner is infecting company networks to mine Monero (XMR), a popular privacy coin known for being hard to trace.
“All of the miners we’ve seen recently are Monero miners,” Sophos threat researcher Sean Gallagher, who authored the report, told Decrypt in a phone interview.
According to Gallagher, the malware looks for holes in a network’s security, generally in the form of systems that have not had their security features—including antivirus and anti-malware software—updated or patched. Once installed on a server or computer, the malware will look for other systems to install its crypto-miner for maximum profit. Read More
NFT music platforms to disrupt Spotify in 2022, Saxo Bank predicts
Spotify and Apple Music reportedly cut 75% from musicians’ revenues together with the cut paid to labels.
As popular music streaming services like Spotify cut much of musicians’ revenues, new technologies like nonfungible tokens (NFT) will likely help artists grab back their fair share, Saxo Bank predicted.
According to one of Saxo Bank’s “Outrageous Predictions 2022: Revolution,” music creators will benefit from NFT-based streaming platforms, as they allow distributing music directly to listeners without centralized intermediaries charging a fee.
Saxo Bank cryptocurrency analyst Mads Eberhardt argued that mainstream music streaming platforms such as Spotify and Apple Music take a substantial cut, which, together with the cut paid to labels, is some 75% or more of the total revenue.
“These models don’t guide individual subscribers’ fees to the actual music an individual subscriber listens to,” Eberhardt stated, adding:
“The use case for NFTs could prove particularly compelling in the next step for the technology for content generators in the music industry as musicians feel unfairly treated by the revenue sharing models of the current streaming platforms like Spotify and Apple Music.” 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.
