Chain
Benny The Butcher Blesses Freddie Gibb’s Ex With Iced Out Chain
Just when it seemed like the the beef between Benny the Butcher and Freddie Gibbs was done and forgotten, the Butcher decided to fire up the grill and add a new cut to keep things cooking in 2024. With some extra time on his hands these days, Benny the Butcher had social media buzzing when […]
Bridge attacks will still pose major challenge for DeFi in 2023 — Security experts
Security has been a critical challenge for decentralized finance (DeFi) and its evolution. Between 2020 and 2022, hackers stole over $2.5 billion through vulnerabilities on cross-chain bridges, Token Terminal data shows. This is a substantial amount compared with other security breaches. Issues with bridges have a root cause: All of them have an “inherent vulnerability,” Theo Gauthier, founder and CEO of Toposware, told Cointelegraph. According to Gauthier, no matter how secure a bridge is on its own, it is “entirely reliant on the security of the chains it connects,” meaning any breach or bug within one of the two bridged chains makes the overall bridge vulnerable. Briefly, bridges are used to connect different blockchains and aim to address the lack of standards between protocols. I...
Polkadot incentivizes its community to fight scams through an “anti-scam bounty”
Polkadot, a protocol that connects blockchains, has announced its latest initiative to help its ecosystem fight scams. According to the company, relying on security-minded individuals within its community to fight scams has proven to be an effective method of safeguarding its ecosystem. To incentivize the members of its community to continue to do the work, Polkadot consistently rewards them with bounties paid in USDC. Polkadot shared that its bounty is currently managed by the general curators, which for now, consists of three community members, and two people from the W3F Anti-Scam department. However, in the long term, Polkadot hopes that the bounty will be eventually managed exclusively by the community. As part of the community-led anti-scam initiative, community mem...
Casper Association launches $25M grant to support developers on its blockchain
Scalable blockchain network Casper announced the launch of its new Casper Accelerate Grant Program on Nov. 23, created to support developers and innovators who are building apps to support infrastructure, end-user applications, and research innovation on its blockchain. JUST IN from @nextblockexpo: We’re glad to announce the launch of a $25M Casper Accelerate Grant Program. This fund will support learning, development, and innovations in Infrastructure, #dApps, #DeFi, #Gaming & NFTs. Learn more https://t.co/jClYyYxRVW pic.twitter.com/V8KszHEjM3 — Casper (@Casper_Network) November 23, 2022 The Casper Network is a Proof-of-Stake (PoS) enterprise-focused blockchain designed to help businesses to build private or permissioned apps, aimed at accelerating businesses and the adopti...
Crypto Twitter reacts to Binance CEO’s deleted tweet about Coinbase’s Bitcoin Holdings
Coinbase was trending on Twitter on Nov. 22 after Binance CEO Changpeng Zhao, known also as CZ, sent out a tweet that appeared to question Coinbase’s Bitcoin holdings. In the since deleted tweet, CZ referenced a yahoo finance article that alleged that “Coinbase Custody holds 635,000 BTC on behalf of Grayscale.” CZ added, “4 months ago, Coinbase (I assume exchange) has less than 600K,” with a link to a 4 month old article from Bitcoinist. The Binance CEO made it clear that he was simply quoting “news reports”, and not making any claims of his own. However, his tweet was not received well by the crypto community. A screenshot of CZ’s since-deleted tweet. Shortly after, Coinbase CEO Brian Armstrong indirectly responded to CZ in a series of tweets, stating; “If you see FUD ou...
Blockchain interoperability goes beyond moving data from point A to B — Axelar CEO Sergey Gorbunov
Cross-chain communication between blockchains is more than just moving data from point A to B, but how it can connect applications and users for enhanced experiences and fewer gas fees in Web3, outlined Sergey Gorbunov, Axelar Network co-founder and CEO, speaking to Cointelegraph’s business editor Sam Bourgi on Sept. 28 at Converge22 in San Francisco. As the crypto industry has developed over the past few years, blockchain interoperability has seen a surge in demand, attracting venture capital and welcoming players, such as Axelar, which reached unicorn status in February. According to Gorbunov, the company, founded in 2020, started with a premise that cross-chain and multichain capabilities would come to define the crypto space. “The idea is not just to talk about how to...
Tornado Cash saga left a void, says Chainalysis chief scientist: Finance Redefined
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. Chainalysis chief scientist shared his views on the Tornado Cash saga and said that the incident has left a void for illicit fund mixing services, but the real impact of the sanctions could be determined in the long run. The staking ecosystem of Ethereum post Merge could have a significant impact on the crypto economy, according to a new report. Institutional lending platform Mapple Finance launched a $300 million lending pool for Bitcoin mining farms. The Tribe DAO, a decentralized autonomous organization, voted in favor of repaying affected users of the $80 million exploit on DeFi platform Rari Capital’s liquidi...
Is there a secure future for cross-chain bridges?
The plane touches down and comes to a halt. Heading to passport control, one of the passengers stops at a vending machine to buy a bottle of soda — but the device is absolutely indifferent to all of their credit cards, cash, coins and everything else. All of that is part of a foreign economy as far as the machine is concerned, and as such, they can’t buy even a droplet of Coke. In the real world, the machine would have been quite happy with a Mastercard or a Visa. And the cash exchange desk at the airport would have been just as happy to come to the rescue (with a hefty markup, of course). In the blockchain world, though, the above scenario hits the spot with some commentators, as long as we swap traveling abroad for moving assets from one chain to another. While blockchains as decentraliz...
Blockchain assessment: How to assess different chains?
With so many blockchain networks appearing all the time, new or even experienced crypto enthusiasts may feel overwhelmed when it comes to deciding which are the best to invest in. In this guide, we’ll outline the most important aspects of any blockchain project, and why one should pay close attention to such details when assessing the different chains on the crypto market. Use case Arguably the most important part of any blockchain project is its use case. What is the project’s reason for existing? Is the project here to enhance payment processing? To improve on a business supply chain or to entertain users? There’s technically no such thing as an invalid use case, but some are certainly more applicable than others. For example, a project meant to assist millions in acquiring food is likel...
Uniswap v3 contracts deployment on Polygon approved with 99.3% consensus
The Uniswap community has approved the governance proposal that sought deployment of Uniswap v3 contracts over the Polygon PoS Chain. The approval comes in the form of an on-chain vote that saw the participation of over 72.6 million users from the community. Uniswap Labs announced to deploy Uniswap v3 contracts based on the votes that reflected over 99.3% approval consensus and will be supported by a $20 million fund — $15 million for long-term liquidity mining campaign and $5 million for the overall adoption of Uniswap on Polygon (MATIC). The Uniswap community has voted to deploy v3 on @0xPolygon through the governance process. ⚡️ Uniswap Labs will deploy Uniswap v3 contracts within a few days. Stay tuned. pic.twitter.com/LwVLwEngPl — Uniswap Labs (@Uniswap) December 18, 202...
Polkadot envisions Web3 disruption with multiple parachain launches
Open-source blockchain platform Polkadot announced the launch of its first parachains (or parallelized chain) aimed at improving the interoperability between multiple blockchains. According to the announcement, the Polkadot team invested five years into the development of the parachains, which were allocated to teams via auctions, namely, Acala, Moonbeam, Parallel Finance, Astar, and Clover. With individual blockchains running in parallel within the Polkadot ecosystem, the auction winners will be able to lease slots on Polkadot’s Relay Chain for up to 96 weeks at a time. Developed by Polkadot Founder and Ethereum co-founder Gavin Wood, the Relay Chain helps in coordinating the consensus and communication between parachains: “And as the ecosystem grows, especially with nascent e...
Cocaine worth $8.2m found in Poland banana shipment
Polish police on Friday announced the seizing of 160 kilograms (350 pounds) of cocaine hidden inside several shipments of bananas delivered to a branch of the French retail chain, Carrefour. Carrefour Polska said its employees had found “suspicious packages in a fresh delivery of bananas” on Thursday in central Warsaw. “They immediately notified the police, who quickly secured the consignment and launched an investigation, which is currently ongoing. Our chain is fully cooperating with investigators,” Carrefour Polska was quoted as saying by Poland’s PAP news agency. A police video published on Twitter showed green-coloured packages containing the cocaine hidden in cardboard boxes of bananas. Police, who valued the seizure at more than 6.7 million euros ($8.2 million), did not say where th...
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