HashEx CEO Dmitry Mishunin summarizes Web3 as read, write, own — a “crazy responsibility” for the end-user. Hacking in Web3 is easy because it uses the same pattern that’s been used since the inception of the internet — pretending to be someone else. Due to the complexity and the “cool factor” of Web3 projects, one…
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A Reddit user has warned of the potential dangers of unchecked smart contracts, advising the community to revoke approvals on a regular basis. On the back of the worst year for crypto hacks and exploits, the crypto community has given some advice to newbie investors going into 2023 — check your smart contract approvals and…
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Blockchain benefits the supply chain industry by enhancing the traceability, transparency and tradability of goods and services that move along the value chain. The future of blockchain-based supply chain? The demand for the blockchain-based supply chain is driven by customers’ need to know the specific source of their items and whether they were made according…
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Smart contract platform tokens and decentralized finance (defi) protocols have taken a beating since the FTX collapse last week. The market capitalization of all the smart contract platform tokens in existence lost more than $22 billion during the last 36 days. The total value locked (TVL) in defi protocols has dropped to $43 billion, the…
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The Central Bank of Russia supports the development of digital financial assets but remains opposed to legalizing crypto payments, its top management has reiterated. The monetary authority is now working on a set of regulatory proposals that will be submitted to parliament by the end of the year. Russia’s Central Bank Takes Legislative Initiative in…
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Circulating, maximum and total supply are all essential metrics for an investor’s price discovery. Find out here what they are and how they can be used. Total supply vs. maximum and circulating supply Circulating and maximum supply are equally important in their own use, and understanding their implication vs. the total supply can help assess…
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Russia’s Central Bank has released a report on digital assets which looks at how the technology could be integrated into its traditional financial system. The Central Bank of Russia (CBR) is looking at ways to integrate crypto assets and blockchain technology into its local financial system amid a pile-on of global financial sanctions. In a…
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Ethereum rallied with the rest of the crypto market, reaching above $1,500 to land at a new one-month high. As the market rallied, developers had roused from their slumber looking to take advantage of the renewed interest in the market. This saw the number of new smart contracts deployed on the network reach new 2022…
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On October 27, the Fantom Foundation announced a collaboration with the security and analysis platform Dedaub in order to bolster Fantom’s decentralized finance (defi) ecosystem. Dedaub’s monitoring system called Watchdog will monitor smart contracts on the Fantom blockchain for exploits and buggy code. Fantom Looks to Curb Defi Exploits With Watchdog Monitoring System The Fantom…
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Solidus Labs, which has been monitoring 12 leading blockchains, has detected a majority of scam-like tokens originating from Binance’s BNB Chain. The Web3 and cryptocurrency space is seeing a significant amount of smart contract scams proliferating, with blockchain risk monitoring firm Solidus Labs saying it has detected on average 15 newly deployed scams every hour.…
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