Decentralization
What is CeDeFi, and why does it matter?
Among the advantages of CeDeFi are lower fees, better security, accessibility, speed and lower cost. CeDeFi’s innovative approach to decentralized banking enables users to trade CeDeFi crypto assets without requiring a centralized exchange. This implies that users may transact directly with one another, removing the need for an intermediary. Among CeDeFi’s major advantages is lower fees. CeDeFi transactions cost lower than those on comparable platforms since there are fewer middlemen involved, especially on networks that are not Ethereum-based. Ethereum has very high gas fees, for instance, with DEX transactions running into hundreds of dollars. It also often causes network congestion issues, leading to delays. Binance CeDeFi, on the other hand, has much lower fee...
Over 1,900 block-producing nodes in the Solana ecosystem, new report reveals
Solana released its first-ever, “Validator Health Report” which revealed information on its network operators. According to the report the network has over 1,900 block-producing nodes with nearly 1,688 (88.14%) of those run by independent entities. Solana says the health and strength of its validators is critical to the long-term health of the ecosystem. Previously, the network has faced backlash for both a lack of decentralization and expensive validator hardware. Though this new report highlights the 3,400 validators across six different continents. 9/ Distribution across geographies is important. Resilient blockchains continue operating through all types of global events. Here’s how stake is distributed across the @Solana network, with a snapshot of Ethereu...
Curve Finance resolves site exploit, directs users to revoke any recent contracts
On Aug 9, automated market maker Curve Finance took to Twitter to warn users of an exploit on its site. The team behind the protocol noted that the issue, which appeared to be an attack from a malicious actor, was affecting the service’s nameserver and frontend. Don’t use https://t.co/vOeMYOTq0l site – nameserver is compromised. Investigation is ongoing: likely the NS itself has a problem — Curve Finance (@CurveFinance) August 9, 2022 Curve stated via Twitter that its exchange — which is a separate product — appeared to be unaffected by the attack, as it uses a different DNS provider. However, the issue was quickly addressed by the team. An hour after the initial warning, Curve said it had both found and reverted the issue, directing users to have approved any contracts o...
Blockchain and NFTs are changing the publishing industry
Web3 has become the most sought-after investment sector of 2022, as use cases for nonfungible tokens (NFTs), the Metaverse and other blockchain applications come to fruition. Therefore, it shouldn’t come as a surprise that different segments of the publishing industry have begun to use Web3 technologies to transform traditional models. For example, the textbook publishing giant Pearson recently announced plans to use NFTs to track digital textbook sales to capture revenue lost on the secondary market. Time magazine, which was founded 99 years ago, has also been using NFTs to create new revenue streams, along with a sense of community within the publishing industry. Keith Grossman, the president of Time, told Cointelegraph that the magazine is demonstrating the new possibilities of en...
Decentralized finance faces multiple barriers to mainstream adoption
Decentralized finance (DeFi) is a growing market popular with experienced crypto users. However, there are some roadblocks regarding mass adoption when it comes to the average non-technical investor. DeFi is a blockchain-based approach to delivering financial services that don’t rely on centralized intermediaries but instead use automated programs. These automated programs are known as smart contracts, enabling users to automatically trade and move assets on the blockchain. Protocols in the DeFi space include decentralized exchanges (DEXs), lending and borrowing platforms and yield farms. Since there are no centralized intermediaries, it’s easier for users to get involved in the DeFi ecosystem, but there are also increased risks. These risks include vulnerabilities in a protocol’s co...
Why is there so much uncertainty in the crypto market right now? | Market Talks with Crypto Jebb and Crypto Wendy O
In the fourth episode of Market Talks, we welcome YouTube media creator and crypto educator Crypto Wendy O. Crypto Wendy O is a YouTube media creator and crypto educator. Wendy became interested in cryptocurrency and blockchain technology in November of 2017. She has been into crypto full-time since the summer of 2018 and focuses on providing transparent marketing & media solutions for blockchain companies globally. Wendy also provides free education via YouTube and Twitter to her growing audience of over 170 thousand, giving her the largest following of any female crypto influencer in the world. Some of the topics up for discussion with Wendy are the new consumer price index (CPI) numbers and how they might impact the crypto market going forward, and why there is so much uncertai...
Hodlers and whales: Who owns the most Bitcoin in 2022?
One of the main features of the Bitcoin blockchain is its transparency. Bitcoin lets anyone see every transaction that has ever been made on its network and check the balance of every address out there. Because of this transparency, we’re able to know who owns the most Bitcoin (BTC) in 2022. It’s important to look at who owns the most BTC, as the cryptocurrency’s supply is limited to 21 million coins. In February, Kim Grauer, director of research at blockchain forensics firm Chainalysis, told Cointelegraph that an estimated 3.7 million BTC have been lost, effectively deflating the cryptocurrency’s circulating supply. Experts estimate that as Bitcoin’s adoption rises, demand for it will skyrocket. As 3.7 million coins are estimated to be lost and a significant amount is being held on-chain ...
Hodlers and whales: Who owns the most Bitcoin in 2022?
One of the main features of the Bitcoin blockchain is its transparency. Bitcoin lets anyone see every transaction that has ever been made on its network and check the balance of every address out there. Because of this transparency, we’re able to know who owns the most Bitcoin (BTC) in 2022. It’s important to look at who owns the most BTC, as the cryptocurrency’s supply is limited to 21 million coins. In February, Kim Grauer, director of research at blockchain forensics firm Chainalysis, told Cointelegraph that an estimated 3.7 million BTC have been lost, effectively deflating the cryptocurrency’s circulating supply. Experts estimate that as Bitcoin’s adoption rises, demand for it will skyrocket. As 3.7 million coins are estimated to be lost and a significant amount is being held on-chain ...
Does the Metaverse need blockchain to ensure widespread adoption?
Many assume, too, that blockchain technology will play a key role in the Metaverse, along with other emerging technologies such as artificial intelligence (AI) and virtual reality (VR). But, is the use of blockchain really a foregone conclusion? Stanford University professor Jeremy Bailenson recently moderated a World Economic Forum panel with some of the world’s leading thinkers of the Metaverse and blockchain. “The first question posed to the panel was ‘Do we need the blockchain for the metaverse?’” Bailenson, founder of Stanford’s Virtual Human Interaction Lab, recounted to Cointelegraph. “The consensus was that the Metaverse could exist without blockchain.” As an example, Bailenson offered up metaverse pioneer Second Life, founded in 2003, which has 70 million current registered accoun...
Does the Metaverse need blockchain to ensure widespread adoption?
Many assume, too, that blockchain technology will play a key role in the Metaverse, along with other emerging technologies such as artificial intelligence (AI) and virtual reality (VR). But, is the use of blockchain really a foregone conclusion? Stanford University professor Jeremy Bailenson recently moderated a World Economic Forum panel with some of the world’s leading thinkers of the Metaverse and blockchain. “The first question posed to the panel was ‘Do we need the blockchain for the metaverse?’” Bailenson, founder of Stanford’s Virtual Human Interaction Lab, recounted to Cointelegraph. “The consensus was that the Metaverse could exist without blockchain.” As an example, Bailenson offered up metaverse pioneer Second Life, founded in 2003, which has 70 million current registered accoun...
Crema Finance shuts liquidity protocol on Solana amid hack investigation
Crema Finance, a concentrated liquidity protocol over the Solana blockchain, announced the temporary suspension of its services owing to a successful exploit that has drained a substantial but undisclosed amount of funds. Soon after realizing the hack on its protocol, Crema Finance suspended the liquidity services to refrain the hacker from draining out its liquidity reserves — which include the funds of the service provider and investors. Attention! Our protocol seems to have just experienced a hacking. We temporarily suspended the program and are investigating it. Updates will be shared here ASAP. — CremaFinance (@Crema_Finance) July 3, 2022 Speaking to Cointelegraph about the matter, Henry Du, the co-founder of Crema Finance confirmed the commencement of the investigation. He state...
DeSci: Tech trees to fund ambitious science and tech
Have you ever played the game series Civilization, created by designer Sid Meier? Through the years, much has changed, but one of the unchanging hallmarks of the series has been the technology tree. Why has it been such a stable component of this game? Because it allows you, on one look, to get a bird’s-eye view of the technological capabilities necessary to make progress on your audacious civilizational goals. Compare this with our real civilization. If we wanted to, we could probably map the many technological capability paths that got us to where we are today. After all, our current tech stack is what the Civilization tech tree is modeled after. What if we could build a tech tree that was future-facing, starting now? Reality is, arguably, more complex than a computer game. So, rat...
