technology
Coinbase Wallet now supports Ledger Hardware Wallets as it aims for additional security
The launch also comes with co-branded Nano X Coinbase Edition wallets available for a limited period The partnership is part of Ledger’s push to evolve into a software-focused firm Crypto exchanges have been ramping up security efforts against the threat of losses, and Coinbase, the largest crypto exchange in the US, is the latest name to take action in this regard. The crypto exchange confirmed yesterday that it had added support for the Ledger Hardware Wallets onto its Coinbase Wallet browser extension. Coinbase and Ledger have shown an insistence to enhance security as users can benefit greatly from an additional layer of protection. Hardware wallets such as Ledger’s enable self-custody as they are cold crypto wallets that store user private keys. These wallets can only be accessed offl...
Future of finance: US banks partner with crypto custodians
Grayscale Investments’ latestreport “Reimagining the Future of Finance” defines the digital economy as “the intersection of technology and finance that’s increasingly defined by digital spaces, experiences, and transactions.” With this in mind, it shouldn’t come as a surprise that many financial institutions have begun to offer services that allow clients access to Bitcoin (BTC) and other digital assets. Last year, in particular, saw an influx of financial institutions incorporating support for crypto-asset custody. For example, Bank of New York Mellon, or BNY Mellon, announced in February 2021 plans to hold, transfer and issue Bitcoin and other cryptocurrencies as an asset manager on behalf of its clients. Michael Demissie, head of digital assets and advanced solutions at BNY ...
Mining worldwide: Where should crypto miners go in a changing landscape?
One of the main themes among the crypto community in 2021 was China’s aggressive policy toward mining, which led to a complete ban on such activities in September. While mining as a type of financial activity has not gone away and is unlikely to disappear, Chinese cryptocurrency miners had to look for a new place to set up shop. Many of them moved to the United States — the world’s new mining mecca — while some left to Scandinavia and others to nearby Kazakhstan, with its cheap electricity. Mining activities can’t stay under the radar forever, and governments around the world have begun to raise concerns over electricity capacity and power outages. Erik Thedéen, vice-chair of the European Securities and Markets Authority — who also serves as director general of the Swedish Fina...
Wormhole hack illustrates danger of DeFi cross-chain bridges
Solana has become one of the fastest-growing smart contract blockchain networks since it was first officially launched in March 2020. The total value locked (TVL) on decentralized finance (DeFi) protocols on the network grew from nearly $152 million in March 2021 to $8.08 billion at the time of writing, as per data from DefiLlama. Simultaneously, the network has also been subject to several network issues and outages. Most recently, the Wormhole token bridge was hit by a security exploit on Feb. 3 that culminated in the loss of 120,000 wrapped Ether (wETH) tokens, worth over $375 million at the current price of Ether (ETH). This exploit was the biggest so far in 2022 and the second largest DeFi hack ever, following the Poly Network hack where over $600 million was stolen from t...
Cardano Foundation’s promotional bug bounty program commences
The updated program to identify vulnerabilities started on Monday and will run for six weeks The lowest bugs spotted will attract a reward of $800 and the critical ones $20,000 Cardano Foundation, the non-profit entity that is mainly responsible for Cardano’s path, last week announced the doubling of rewards for users that identify bugs on the network. The Swiss-based organisation shared an update on Hackerone that hackers who spot potential vulnerabilities will pocket double the bounty offered previously. “Hello hackers, we are excited to let you know that we are running a promotion for the next 6 weeks on all assets, it will run from Monday 14th February 2022 until Friday 25th March 2022 and our payouts for valid reports have DOUBLED,” the Cardano Foundation Team w...
Inside the blockchain developers’ mind: Can EOS deliver a killer social DApp?
Cointelegraph is following the development of an entirely new blockchain from inception to mainnet and beyond through its series, Inside the Blockchain Developer’s Mind, written by Andrew Levine of Koinos Group. In my first article in this series, I explained why Ethereum and Steem haven’t been able to deliver a mainstream social decentralized application (DApp), despite taking two very different approaches and how this makes the solution seem. Therefore, why not combine the fee-less system developed for Steem with the flexibility of a blockchain with smart contracts like Ethereum? Then, we could give developers the best of both worlds, enabling them to create free-to-use applications with the freedom to add new features whenever they want. One could argue that this is exactly what Dan Lar...
Bitcoin’s last security challenge: Simplicity
It’s been just 13 years since Bitcoin’s (BTC) “Mayflower moment,” when a tiny handful of intrepid travelers chose to turn their back on the Fiat Empire and strike out to a new land of financial self-sovereignty. But, whereas it took 150 years for the American colonists to grow sufficient in number to throw off the yoke of unrepresentative government, the Republic of Bitcoin has gone from Pilgrims to Revolutionary Army in little over a decade. What sort of people are these new Bitcoiners? How do their character, demographics and technical knowledge differ from earlier adopters? Is “Generation Bitcoin” sufficiently prepared to protect their investment against current and future security threats? And, most importantly, what are the challenges that the rapidly growing community must urgently a...
Investors underestimate Bitcoin’s “huge upside potential”, Fidelity researcher says
Chris Kuiper, Head of Research at Fidelity Digital Assets, is convinced that Bitcoin (BTC) should be treated separately from other digital assets and believes it plays an exclusive role in investors’ portfolios. Fidelity Digital Assets’ latest report, titled Bitcoin First, targets two main concerns that Fidelity’s clients have raised towards BTC — eventually being replaced by some other cryptocurrencies and lower upside potential left compared to other coins. According to Kuiper, BTC offers a unique value proposition as the most decentralized and censorship-resistant monetary network. That, according to him, is a non-incremental sort of innovation similar to the invention of the wheel. “You can’t reinvent something that’s already been invented in terms of the m...
Experience-to-earn is the gateway for NFT mainstream adoption
An experience-to-earn (E2E) nonfungible token (NFT) ecosystem rewards people on-chain for doing everyday activities, bringing new forms of value creation to everyone. This was previously reserved for invested gamers in play-to-earn (P2E) worlds. While P2E has experienced a record-breaking year ($4.5 billion in-game NFT sales, according to the recent DappRadar report), most blockchain games still rely on some level of skill such as battling, breeding or collecting strategy that attracts gamers with the downtime, temerity and sometimes some starting funds to invest — prerequisites that can put off any non-gamer from entering NFTs to earn. In contrast, experience-to-earn aims to reward more achievable investment people put in themselves, others and the good into the world, expanding the poten...
FTX Pay: what is it and which cryptos are supported?
FTX Pay is a service offered by the FTX Crypto Derivatives Exchange intended to allow users to receive payments via cryptocurrencies, fiat, or both. It is a convenient option for a store or app owner to accept payment from customers via their desired payment method that is backed by the FTX brand. Before we get into the details of FTX Pay, there are a few things we need to get out of the way first: FTX has made an official announcement that they are moving FTX Pay exclusively to the FTX US platform instead. For the time being, anyone can still use FTX Pay applications that exist on FTX International. However, they will not be able to create new applications without using the FTX US platform instead. This article does not offer any investment advice, and it is only here for informatio...
5 Safety Tips to promote a more empowering experience for youths online
Facebook WhatsApp Reddit Twitter Shares You will have a more empowering experience online, when you’re sharing with the people you care about and engaging with the communities that interest you the most. That is why on this year’s Safer Internet Day, we’d like to celebrate young people’s role in creating a safer internet by sharing some tools you need to manage your network and connect with the content that you’ll most enjoy. Define your circle So, to get the best experience out of your interactions with people online, it is safer to connect, like and follow people and pages that you share the same interests with and also those whom you have many common friends with. Always remember to manage your network by friending people you know and following people you f...
Shiba Inu announces ‘Shiba Lands’ – a virtual real estate in its Metaverse
The lands will be available for auction or purchase according to the announcement post The bidding for land will follow a queue system, with LEASH token holders getting priority The popular meme coin ecosystem Shiba Inu has announced another massive step in the Metaverse direction. The team behind the cryptocurrency has revealed it is working on a virtual real estate project that will allow users to claim ‘lands’ in the Shiba Inu metaverse. The project is part of the developments being carried out in the Shiba Inu Metaverse launched at the end of last month. “We are happy to announce and proudly introduce Shiba Lands! These “lands” found inside our Metaverse will be available for purchase/auction really soon, and it will be our first step towards allowing the ...
