While the biggest blockchain bridge hacks have centered on private key mismanagement, according to Joshua Tobkin, CEO of Supra, smart contract errors and cryptography implementation issues also contribute to cybercriminals’ success. Tobkin said while bridges are poised to play an increasingly critical role in blockchain interoperability, their control by a small number of validators poses…
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Solana has recommended validators in the network upgrade to the latest Mainnet Beta 1.18.15, which includes several fixes to address network performance and stability. The release includes a central scheduler functionality that can be turned on optionally, focused on solving performance issues identified when there is network congestion. According to Solana Beach, a validator statistics…
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Recent data reveals that over 27% of all ether, amounting to 32,472,720 ethereum, is currently staked, as interest in this activity has heightened significantly within the past year. Liquid staking derivative (LSD) protocols have locked in more than $40 billion, with Lido Finance holding $28.77 billion of that sum. Staking Captures 27% of Ethereum Supply;…
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Institutional investors seeking to earn rewards from digital asset token staking must be aware of the associated risks and should take steps to protect their clients, Andrew McFarlane, CTO at the Web3 infrastructure company Validation Cloud, has said. According to McFarlane, slashing, which is a penalty imposed on tokens staked on a validator who contravenes…
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SOL price has started to cool off as investors potentially question the reasons for the most recent double-digit rally. Solana (SOL) experienced a notable 36.6% increase in value between Oct. 30 and Nov. 2. However, SOL’s failure to breach the $44.50 mark resulted in a 10% correction down to $40 on Nov. 6. This movement…
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dYdX completes the launch of its layer-1 proof-of-stake blockchain with the creation of its genesis block by chain validators. Decentralized cryptocurrency exchange dYdX has launched its layer-1 blockchain with the creation of its genesis block, which will operate using native DYDX tokens. The dYdX Chain is set to distribute all fees to validators and stakers…
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The 22% self-limit rule ensures at least four major staking entities would need to collude in order for the chain to reach finalization. At least five Ethereum liquid staking providers have either imposed or are working to impose a self-limit rule in which they promise not to own more than 22% of the Ethereum staking…
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Ethereum developers plan to roll out a new testnet named Holesky, intending to bring 1.6 billion Holesky testnet ether to the network. The core devs of Ethereum highlighted that 1.4 million validators were evaluated for Holesky, with the aim of enhancing the blockchain’s comprehensive development. Ethereum’s Holesky Set to Replace Goerli Testnet in 2023 As…
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On August 16, 2023, the Shiba Inu meme coin enthusiasts celebrated the unveiling of the second-layer (L2) blockchain, Shibarium. This platform is designed to bolster decentralized app growth while tackling Ethereum’s scalability and transaction fee challenges. Yet, even amidst the celebrations, SHIB, the project’s native cryptocurrency, slid over 8% against the U.S. dollar, mirroring the…
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Polygon Labs, the team behind the Polygon blockchain network, has introduced a third-generation token that could replace the native cryptocurrency, MATIC, with a “hyperproductive” digital currency named POL. If the POL concept gains approval, validators can earn rewards from staking and also accumulate rewards from multiple Polygon chains. Polygon Labs Introduces Next-Gen Crypto With POL,…
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