The service industry needs blockchain for enhanced security, transparency and efficiency in managing transactions, contracts and customer data. The need for blockchain technology in the service industry Blockchain technology has the potential to completely transform the services sector by improving efficiency, security and transparency. Blockchain technology reduces the risk of fraud and errors in industries,…
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The Act, inclusive of a clause necessitating “kill switches” on smart contracts, only now needs approval from the European Council to pass into law. The European Parliament has voted to approve the Data Act — controversial legislation that includes a stipulation necessitating smart contracts have the ability to be terminated. In a Nov. 9 press…
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Blockchain adoption has been “unabated” throughout bull and bear markets over the past years, says Bloomberg analyst Jamie Coutts. Should the current rate of adoption continue, blockchain technology could have 100 million daily users by 2028, according to projections by Bloomberg Intelligence analyst Jamie Coutts. On X (formerly Twitter), Coutts pointed out that blockchain adoption…
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Developers working with the Google Cloud data warehouse known as Bigquery can now verify blockchain smart contracts and other business processes using Space and Time’s zero-knowledge (ZK)-proof protocol. The protocol is said to be useful for enterprises that are looking to connect their respective cloud data warehouse services to their smart contracts. Cryptographically Confirming the…
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Base Bootcamp will offer students weekly meetings with a mentor, a dedicated Discord server, and access to Coinbase and Base engineers. On Oct. 20, the Ethereum layer-2 Base network announced that it’s launching an eight-week training course to turn traditional software developers into blockchain developers. Called “Base Bootcamp,” the new program doesn’t cost anything to…
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Threat actors have worked out a way to hide malicious payloads in Binance smart contracts to lure victims into updating their browsers from fake prompts, according to cybersecurity researchers. Cybercriminals have discovered a new way to spread malware to unsuspecting users, this time by manipulating BNB Smart Chain (BSC) smart contracts to hide malware and…
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Shenzhen has become home to an industrial park established to promote China’s central bank digital currency (CBDC). Several financial companies are already settling there, the Chinese megacity announced while unveiling almost a dozen initiatives to boost the digital yuan use in the region. Shenzhen to Invest $14 Million in 3 Years to Develop Digital Yuan…
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A new computing model, BitVM, aims to enhance Bitcoin’s smart contract capabilities without requiring changes to the blockchain’s consensus rules. The white paper, published on October 9, 2023, has drawn significant attention and its fair share of criticism. Can BitVM Set a New Precedent for Bitcoin’s Smart Contracts? BitVM was proposed in a recent white…
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According to Pavel Salas, the chief growth officer at Gear Foundation, on-chain smart contract automation makes applications “truly decentralized” because it “removes dependencies on centralized servers or external entities.” Salas also claimed that on-chain smart contract automation means participants can “engage in transactions or exchanges without relying on a central authority.” Webassembly Not a ‘Direct…
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While both attackers and smart contract auditors are motivated to find vulnerabilities in code, according to Eyal Meron, the co-founder and CEO of Spherex, the former “is always more incentivized as the protocol’s total value locked (TVL) grows.” To overcome this challenge, Meron told Bitcoin.com News that decentralized protocols will need to put in place…
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