The number of mobile wallet users in crypto has reached an all-time high of 28m, based on estimates across all tracked mobile wallets for the month.

#NekoNews @OriNeko

Montenegro's Prime Minister Linked to Early Terraform Investment

Documents from the US SEC's case against Terraform reveal that Montenegro's Prime Minister Milojko Spajić invested €75,000 for 750,000 Terra (LUNA) tokens in April 2018.

Prior to the release of these documents, Spajić had maintained that he never personally invested in Terraform Labs, claiming that it was his employer, Singapore's Das Capital SG, who channeled the funds.

Interestingly, it was in Montenegro that Terraform founder Do Kwon was arrested and is currently detained. A curious coincidence?

#NekoNews @OriNeko

Binance to Delist OCEAN and AGIX in Support for Artificial Superintelligence Alliance

Binance announced that it will support the Ocean Protocol (OCEAN) and SingularityNET (AGIX) token merge to Fetchai (FET) using the new project name Artificial Superintelligence Alliance. Binance will delist and cease trading on all spot trading pairs for OCEAN and AGIX.

#NekoNews @OriNeko

​​Top 10 AI Tokens by Fully Diluted Valuation

Bittensor - $6.14B
Fetch AI - $4.05B
Render - $3.92B
io.net - $2.98B
Aethir - $2.71B
SingularityNET - $1.28B
Ocean Protocol - $897M
NetMind.AI - $888M
Spectral - $700M
Sleepless AI - $694M

👉 https://cryptorank.io/tags/artificial-intelligence

🐯 Learning With Neko Week 41.
Hola, Necats, happy weekend today we'll talk about Nominated Proof of Stake (NPoS)

What Is Nominated Proof of Stake (NPoS)?

Nominated Proof of Stake is a variation of the Proof-of-Stake consensus mechanism that aims to be more democratic, and therefore more fair, than its predecessor. Put simply, it allows token holders to nominate validators to represent them in the block validation process. Only nominated validators can participate in block formation and each individual nominator can nominate a specific number of validators.

To follow, these networks automatically distribute the stake among the participating validators evenly with penalization mechanisms for both validators and nominators in case of malicious activities. Polkadot was the first blockchain to create and use the Nominated Proof of Stake system, supporting its core mission of interoperability and decentralization.

#NekoLearn @OriNeko

How Does Nominated Proof-of-Stake (NPoS) Work?

Nominated Proof-of-Stake combines the traditional Proof-of-Stake mechanism with stakeholder voting by dividing the network into two participants: validators and nominators. The NPoS voting mechanism follows the sequential Phragmen election technique focusing on fair representation. While that may sound complex, let’s break down what it means.

each block is processed by an active validator set. This is a group of validators chosen by the nominators. Nominators can nominate a specific number of validator nodes. Next, validators receive slots in the validator set relative to the stake backing them.

The validators which receive the most nominations, and thus have a higher stake backing them, become the validator set for that block. This changes every “era”, a predefined amount of time, ranging from 4 hours to 24 hours. Once the active set is finalized, the network distributes the stake between all chosen validators to keep the process fair.

#NekoLearn @OriNeko

NPoS Vs DPoS: What’s the Difference?

If you know anything about delegated proof-of-stake, you may have noticed these two consensus mechanisms behave quite similarly. Despite their similarities, they are not identical.

Validation in both NPoS and DPoS blockchains both revolve around two different network users, one with the power to vote the other in. However, these voters are named delegators in DPoS and nominators in NPoS.

But there’s also another key difference. With NPoS, both nominators and validators put up a stake as collateral. This means that both nominators and validators may be punished for bad behavior via slashing. On the other hand, in DPoS, only validators receive punishment for bad behavior. Meaning in a DPoS system, delegators are not punished for the actions of malicious validators, ususally that is. Today, some DPoS mechanisms do include ways to punish delegators too. So in fact, the line between these two mechanisms can sometimes be blurred.

#NekoLearn @OriNeko

The daily trading volume for the stablecoin USDT on the Tron network has reached $58 billion.

This amount is $16 billion higher than Visa's average daily transaction volume of $42 billion in the first quarter of 2024.

#NekoNews @OriNeko

Binance freezes $5 million in funds looted from BtcTurk after alleged $54 million hack of Turkish exchange

Turkish cryptocurrency exchange BtcTurk announced that a cyberattack affected the cryptocurrency stored in ten of its hot wallets following reports of suspicious transfers of Avalanche tokens on Saturday. The exchange noted that its cold wallets, which contain the vast majority of its assets, remain secure and the company remains solvent, according to the company's announcement.

Binance CEO Richard Teng announced on X that his company, the world's largest crypto exchange, is assisting BtcTurk with the investigation and has frozen "over $5.3 million in stolen funds so far."

#NekoNews @OriNeko