It is important to recognize that while DLT, blockchain, and related technologies offer many benefits, they also present a number of security challenges. These technologies are still relatively new and are evolving rapidly, which means that they are not yet fully understood. As a result, there are a number of potential security risks that need to be carefully considered.
One of the key challenges is the risk of hacking or other types of cyber attacks. Blockchain and DLT systems rely on complex cryptographic algorithms to secure their data, and these algorithms can be vulnerable to attacks by sophisticated hackers. In addition, these systems are decentralized and distributed, which can make them more difficult to secure and protect against attacks.
Another challenge is the risk of errors or bugs in the software that powers these systems. Smart contracts, in particular, can be complex and may contain errors that can lead to unintended consequences. This can be especially problematic in the case of financial transactions, as errors could potentially result in significant financial losses.
Overall, it is important to be aware of the security risks associated with DLT, blockchain, and related technologies, and to take steps to mitigate these risks. This may include implementing robust security measures, conducting regular security audits, and staying up to date with the latest developments in the field.
One of the key challenges is the risk of hacking or other types of cyber attacks. Blockchain and DLT systems rely on complex cryptographic algorithms to secure their data, and these algorithms can be vulnerable to attacks by sophisticated hackers. In addition, these systems are decentralized and distributed, which can make them more difficult to secure and protect against attacks.
Another challenge is the risk of errors or bugs in the software that powers these systems. Smart contracts, in particular, can be complex and may contain errors that can lead to unintended consequences. This can be especially problematic in the case of financial transactions, as errors could potentially result in significant financial losses.
Overall, it is important to be aware of the security risks associated with DLT, blockchain, and related technologies, and to take steps to mitigate these risks. This may include implementing robust security measures, conducting regular security audits, and staying up to date with the latest developments in the field.
Shiba Inu (SHIB) Finally Listed on BitMex
One of the most well-known cryptocurrency exchanges, BitMex, announced that six new cryptocurrencies will soon be listed on its platform. Among others, the Shiba Inu token, #SHIB, will be available for trading on BitMex.
Thanks to the listing, users will be able to convert, deposit and withdraw SHIB to their exchange accounts. #BitMex remained one of the few major crypto exchanges that had not yet introduced a #Dogecoin competitor.
One of the most well-known cryptocurrency exchanges, BitMex, announced that six new cryptocurrencies will soon be listed on its platform. Among others, the Shiba Inu token, #SHIB, will be available for trading on BitMex.
Thanks to the listing, users will be able to convert, deposit and withdraw SHIB to their exchange accounts. #BitMex remained one of the few major crypto exchanges that had not yet introduced a #Dogecoin competitor.
There are a number of technologies that can be used for automated smart contract audits. Some of the most popular options include:
▫️Mythril: This is an open-source tool that uses symbolic execution to automatically find vulnerabilities in smart contracts. It is specifically designed to detect security issues in Ethereum smart contracts.
▫️Oyente: This is another open-source tool that uses symbolic execution to perform automated audits of smart contracts. It is also focused on Ethereum contracts.
▫️Manticore: This is a tool that uses dynamic symbolic execution to analyze smart contracts. It is able to detect a wide range of security issues, including vulnerabilities related to integer overflows, reentrancy attacks, and more.
▫️Securify: This is a tool that uses static analysis to automatically find vulnerabilities in smart contracts. It is able to detect a wide range of security issues, including vulnerabilities related to contract design, contract logic, and more.
▫️SmartCheck: This is a tool that uses static analysis to automatically find vulnerabilities in smart contracts. It is specifically designed to detect security issues in Solidity contracts.
These are just a few examples of the many different tools and technologies that are available for automated smart contract audits. It is important to carefully evaluate the different options and choose the one that is best suited to your specific needs and requirements.
▫️Mythril: This is an open-source tool that uses symbolic execution to automatically find vulnerabilities in smart contracts. It is specifically designed to detect security issues in Ethereum smart contracts.
▫️Oyente: This is another open-source tool that uses symbolic execution to perform automated audits of smart contracts. It is also focused on Ethereum contracts.
▫️Manticore: This is a tool that uses dynamic symbolic execution to analyze smart contracts. It is able to detect a wide range of security issues, including vulnerabilities related to integer overflows, reentrancy attacks, and more.
▫️Securify: This is a tool that uses static analysis to automatically find vulnerabilities in smart contracts. It is able to detect a wide range of security issues, including vulnerabilities related to contract design, contract logic, and more.
▫️SmartCheck: This is a tool that uses static analysis to automatically find vulnerabilities in smart contracts. It is specifically designed to detect security issues in Solidity contracts.
These are just a few examples of the many different tools and technologies that are available for automated smart contract audits. It is important to carefully evaluate the different options and choose the one that is best suited to your specific needs and requirements.
First Digital Yuan Land Transfer Executed in Chinese Province of Fujian
The Fuzhou University of International Studies and Trade paid 51 million yuan in the first land transfer fee paid in the digital yuan CBDC
The province of Fujian in China has executed its first digital yuan land transfer, according to reports published on Oct. 9. The transfer saw the Fuzhou University of International Studies and Trade pay 51 million yuan for a plot of land through the Agricultural Bank of China.
The Fuzhou University of International Studies and Trade paid 51 million yuan in the first land transfer fee paid in the digital yuan CBDC
The province of Fujian in China has executed its first digital yuan land transfer, according to reports published on Oct. 9. The transfer saw the Fuzhou University of International Studies and Trade pay 51 million yuan for a plot of land through the Agricultural Bank of China.
Justin Sun denies being 'real buyer' of Huobi stake sale: Exclusive
Earlier today, crypto news outfit Wu Blockchain, citing "multiple sources," reported that Justin Sun, the founder of the #Tron blockchain ecosystem, is the "real buyer" of the recent Huobi stake sale. However, Sun told The Block that the claim is "wrong."
"I'm only an advisor to #Huobi," Sun told The Block, reiterating what he said in a Twitter post earlier today.
Earlier today, crypto news outfit Wu Blockchain, citing "multiple sources," reported that Justin Sun, the founder of the #Tron blockchain ecosystem, is the "real buyer" of the recent Huobi stake sale. However, Sun told The Block that the claim is "wrong."
"I'm only an advisor to #Huobi," Sun told The Block, reiterating what he said in a Twitter post earlier today.
Cake DeFi And Razer Silver Partner Again To Give Away 25 Million Razer Silver
Cake DeFi, the leading, fastest-growing Singapore-based fintech firm providing easy access to Decentralised Finance (#DeFi), has today announced a another market-leading partnership with Razer Silver, a loyalty rewards program for gamers, backed by Razer Inc, the world’s leading lifestyle brand for gamers.
On the back of their successful first collaboration, Cake DeFi and Razer Silver have now come together to let 100 winners take home 250,000 Razer Silver each (redeemable for up to US$250 worth of Razer products). This is one of the largest Razer Silver giveaways to-date and extends Razer’s reach into the web3 space.
Cake DeFi, the leading, fastest-growing Singapore-based fintech firm providing easy access to Decentralised Finance (#DeFi), has today announced a another market-leading partnership with Razer Silver, a loyalty rewards program for gamers, backed by Razer Inc, the world’s leading lifestyle brand for gamers.
On the back of their successful first collaboration, Cake DeFi and Razer Silver have now come together to let 100 winners take home 250,000 Razer Silver each (redeemable for up to US$250 worth of Razer products). This is one of the largest Razer Silver giveaways to-date and extends Razer’s reach into the web3 space.
Luxor launches derivatives product based on bitcoin mining revenue
Bitcoin mining firm Luxor, which runs a mining pool and a hardware trading desk, is launching an over-the-counter derivative product based on bitcoin mining revenues.
The new product, Luxor Hashprice NDF, is a non-deliverable forward contract for #Bitcoin mining "hashprice" — a term coined by the company, referring to revenue miners earn from a unit of hashrate over a specific timeframe.
Bitcoin mining firm Luxor, which runs a mining pool and a hardware trading desk, is launching an over-the-counter derivative product based on bitcoin mining revenues.
The new product, Luxor Hashprice NDF, is a non-deliverable forward contract for #Bitcoin mining "hashprice" — a term coined by the company, referring to revenue miners earn from a unit of hashrate over a specific timeframe.
BNB Chain to boost European Web3 startups with DApp incubator program
BNB Chain, the blockchain of the #Binance crypto exchange launched its latest development-focused initiative, which targets European developers building and scaling decentralized applications (#DApps) on the network.
The three-week virtual “innovation incubator” program focuses on Web3 startups with at least one key member based in the European Union (EU). Those accepted into the program receive mentorship from industry experts and BNB Chain specialists on tokenomics design and Web3 marketing strategies.
The incubator will host exclusive meet-ups in cities across the continent, such as Lisbon, Paris, Berlin, Barcelona, Warsaw and London.
BNB Chain, the blockchain of the #Binance crypto exchange launched its latest development-focused initiative, which targets European developers building and scaling decentralized applications (#DApps) on the network.
The three-week virtual “innovation incubator” program focuses on Web3 startups with at least one key member based in the European Union (EU). Those accepted into the program receive mentorship from industry experts and BNB Chain specialists on tokenomics design and Web3 marketing strategies.
The incubator will host exclusive meet-ups in cities across the continent, such as Lisbon, Paris, Berlin, Barcelona, Warsaw and London.
Crypto exchange giant Coinbase gets Singapore licence
Coinbase, the largest crypto exchange in the United States, says it has received approval from Singapore's central bank to offer payment services .
The in-principle approval, which the central bank started giving out to crypto firms last year, means that individuals and institutions can use digital payment token services and the firms are regulated by the central bank under its Payment Services Act.
Calling it a "significant milestone", Coinbase said in a statement that it has been building up its presence in Singapore and currently has nearly 100 employees in the Republic, with product engineers forming the largest bulk of hires.
Coinbase, the largest crypto exchange in the United States, says it has received approval from Singapore's central bank to offer payment services .
The in-principle approval, which the central bank started giving out to crypto firms last year, means that individuals and institutions can use digital payment token services and the firms are regulated by the central bank under its Payment Services Act.
Calling it a "significant milestone", Coinbase said in a statement that it has been building up its presence in Singapore and currently has nearly 100 employees in the Republic, with product engineers forming the largest bulk of hires.
Zero-knowledge KYC could solve the privacy vs compliance conundrum: VC partner
As the Web3 industry matures, Zero-knowledge Know Your Customer (zkKYC) is becoming more widely discussed as a means to comply with strict financial regulations while maintaining user privacy, according to the partner of a venture capital firm.
In an interview with Cointelegraph, John Henderson, partner at Australian-based venture capital firm Airtree Ventures said the successful implementation of a zkKYC system would be “great news for both regulators and consumers” and could increase cryptocurrency adoption:
“Institutions and retail users are more likely to participate in #DeFi if they can be confident that they are complying with their AML/CTF obligations.”
As the Web3 industry matures, Zero-knowledge Know Your Customer (zkKYC) is becoming more widely discussed as a means to comply with strict financial regulations while maintaining user privacy, according to the partner of a venture capital firm.
In an interview with Cointelegraph, John Henderson, partner at Australian-based venture capital firm Airtree Ventures said the successful implementation of a zkKYC system would be “great news for both regulators and consumers” and could increase cryptocurrency adoption:
“Institutions and retail users are more likely to participate in #DeFi if they can be confident that they are complying with their AML/CTF obligations.”
JPMorgan and Visa link blockchain payment networks
JPMorgan Chase and Visa are to establish connectivity between their global private blockchain networks, Liink and B2B Connect.
Under the collaboration Visa B2B Connect will utilise Confirm, a new tool from Liink to validate new accounts for cross border payments and to approve accounts when new users onboard.
Confirm allows institutions to safely validate account information prior to sending a payment, ensuring fewer payment returns due to missing or incorrect information, and mitigating against fraudulent activity by pre-validating account information so participants know beforehand if the instructed beneficiary matches the owner of the account they are paying.
JPMorgan Chase and Visa are to establish connectivity between their global private blockchain networks, Liink and B2B Connect.
Under the collaboration Visa B2B Connect will utilise Confirm, a new tool from Liink to validate new accounts for cross border payments and to approve accounts when new users onboard.
Confirm allows institutions to safely validate account information prior to sending a payment, ensuring fewer payment returns due to missing or incorrect information, and mitigating against fraudulent activity by pre-validating account information so participants know beforehand if the instructed beneficiary matches the owner of the account they are paying.
AshSwap, The First Asian-Based Elrond Project, To Be Launched On Maiar Launchpad
Among Southeast Asian countries, Vietnam has been ranked first in cryptocurrency adoption for two years in a row with more than 21% of consumers having purchasing power in crypto. Blockchain-based gaming and infrastructure projects lead the development and adoption across the country, predicting a new stage for Vietnam’s economy.
Until now, the Elrond blockchain has not gained popularity in Southeast Asia. But this situation can change with the launch of AshSwap, the first stable-swap on #Elrond. Based in Vietnam, AshSwap is strategically located to onboard more community members to the ecosystem and become a leading force behind the blockchain’s growth.
Among Southeast Asian countries, Vietnam has been ranked first in cryptocurrency adoption for two years in a row with more than 21% of consumers having purchasing power in crypto. Blockchain-based gaming and infrastructure projects lead the development and adoption across the country, predicting a new stage for Vietnam’s economy.
Until now, the Elrond blockchain has not gained popularity in Southeast Asia. But this situation can change with the launch of AshSwap, the first stable-swap on #Elrond. Based in Vietnam, AshSwap is strategically located to onboard more community members to the ecosystem and become a leading force behind the blockchain’s growth.
Solana Network Woes Exacerbated by NFT Airdrop Malware Threat
The problems facing the Solana network and investors in its #SOL coin are deepening as a new strain of malware has become the latest threat.
Users of Solana’s #Phantom wallet have been targeted by malware that attempts to dupe them into installing an update.
According to recent reports, malicious actors are airdropping NFTs to Solana wallet users that imitate alerts for a new Phantom security update. If installed, the data-stealing malware could result in theft from crypto wallets.
The problems facing the Solana network and investors in its #SOL coin are deepening as a new strain of malware has become the latest threat.
Users of Solana’s #Phantom wallet have been targeted by malware that attempts to dupe them into installing an update.
According to recent reports, malicious actors are airdropping NFTs to Solana wallet users that imitate alerts for a new Phantom security update. If installed, the data-stealing malware could result in theft from crypto wallets.
Ripple boss tips when SEC case will end as Hoskinson hits back at XRP army
According to Ripple CEO Brad Garlinghouse, the long-drawn-out battle between #Ripple and the U.S. Securities and Exchange Commission is nearing its conclusion — but it could still take many months.
The native token #XRP has been on a tear over the past month thanks to increased speculation about a successful resolution to the case before the end of the year.
On Oct. 11, Garlinghouse told panelists at the DC Fintech Week conference that he expects the case against his firm to come to a conclusion in the first half of 2023 but admitted that it was hard to predict.
According to Ripple CEO Brad Garlinghouse, the long-drawn-out battle between #Ripple and the U.S. Securities and Exchange Commission is nearing its conclusion — but it could still take many months.
The native token #XRP has been on a tear over the past month thanks to increased speculation about a successful resolution to the case before the end of the year.
On Oct. 11, Garlinghouse told panelists at the DC Fintech Week conference that he expects the case against his firm to come to a conclusion in the first half of 2023 but admitted that it was hard to predict.
SushiSwap Head Chef Drama Reaches New Heights
SushiSwap was hoping for a period of stability after the election of Jared Grey as head chef. However, the decentralized exchange found itself in the eye of a storm after extraordinary allegations were made against its new head chef.
Jared Grey has been accused of scamming multiple crypto investors, an allegation he describes as 100% untrue.
SushiSwap was hoping for a period of stability after the election of Jared Grey as head chef. However, the decentralized exchange found itself in the eye of a storm after extraordinary allegations were made against its new head chef.
Jared Grey has been accused of scamming multiple crypto investors, an allegation he describes as 100% untrue.
Avalanche Officially Listed on Gemini; Inbound Transfer Opens
The listing will make Avalanche more accessible to a broader range of users. On or after October 11 at 9 AM EST for deposits and October 12 at 10 AM EST for trading, the markets for #AVAX on Gemini are anticipated to open on a rolling basis for the AVAX/USD, GBP, EUR, CAD, AUD, HKD, and SGD pairs.
The listing will make Avalanche more accessible to a broader range of users. On or after October 11 at 9 AM EST for deposits and October 12 at 10 AM EST for trading, the markets for #AVAX on Gemini are anticipated to open on a rolling basis for the AVAX/USD, GBP, EUR, CAD, AUD, HKD, and SGD pairs.
CoinDigest
Avalanche Officially Listed on Gemini; Inbound Transfer Opens The listing will make Avalanche more accessible to a broader range of users. On or after October 11 at 9 AM EST for deposits and October 12 at 10 AM EST for trading, the markets for #AVAX on Gemini…
Winklevoss twins launch crypto asset trading platform in Ireland
Gemini Payments, a popular cryptoasset trading platform founded by Cameron and Tyler Winklevoss, officially launched in Ireland on Wednesday after becoming the first company to receive secure virtual asset service provider registration from the Central Bank of Ireland during the summer.
Gemini, which also holds a European e-money licence, allows customers to buy, sell and hold cryptoassets such as Bitcoin and Ether and digital non-fungible tokens (NFTs).
Gemini Payments, a popular cryptoasset trading platform founded by Cameron and Tyler Winklevoss, officially launched in Ireland on Wednesday after becoming the first company to receive secure virtual asset service provider registration from the Central Bank of Ireland during the summer.
Gemini, which also holds a European e-money licence, allows customers to buy, sell and hold cryptoassets such as Bitcoin and Ether and digital non-fungible tokens (NFTs).
Google Cloud and Coinbase partner to “better serve the growing Web3 ecosystem”
Google Cloud and cryptocurrency exchange Coinbase have announced a long-term partnership that aims to use one another’s services to bolster their #Web3 ambitions.[...]
Google Cloud will use Coinbase Commerce – which allows merchants to accept cryptocurrency payments in a decentralised approach – to offer a new benefit to its customers by diversifying the payment experience and increasing the optionality of its cloud services.
Google Cloud and cryptocurrency exchange Coinbase have announced a long-term partnership that aims to use one another’s services to bolster their #Web3 ambitions.[...]
Google Cloud will use Coinbase Commerce – which allows merchants to accept cryptocurrency payments in a decentralised approach – to offer a new benefit to its customers by diversifying the payment experience and increasing the optionality of its cloud services.