Month: May 2023

Vitalik Buterin warns against overloading Ethereum consensus

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Ethereum co-founder Vitalik Buterin has published a lengthy blog post warning of the dangers of “stretching” Ethereum’s consensus past its core functions of validating blocks and securing the network.  Ethereum consensus is the process whereby blocks are validated by the proof-of-stake mechanism implemented in September 2022 with “the Merge.” In a May 21 blog post titled “Don’t overload Ethereum’s consensus,” Buterin warned that using Ethereum’s network consensus for other things could bring “high systemic risks to the ecosystem and should be discouraged and resisted.” The Ethereum co-founder was essentially promoting…

Ordinals sends LTC and DOGE network activity surging for 3 straight weeks

What began with developer Casey Rodarmor creating the Ordinals protocol to “inscribe” text and imagery on the Bitcoin (BTC) network has now made its way to Litecoin (LTC) and Dogecoin (DOGE) sending transaction volume on the two chains surging for the better part of a month.  Recent network activity on Litecoin and Dogecoin networks. Source: BitInfoCharts. On May 18, Dogecoin reached a new transaction volume record, with 1.2 million transactions in a single 24-hour period, according to data from BitInfoCharts. Similarly, on May 10, Litecoin reached its highest ever daily…

Tornado Cash’s TORN Token Up 10% as Attacker Submits Proposal to Undo Attack

Given the attacker’s holdings of TORN governance tokens, the proposal looks as though it will pass when voting closes on May 26, though it’s unclear when the action will be executed. When the proposal passes, the malicious code that the attacker integrated into the protocol, which allowed them to steal voting power from others, will be removed, and the governance of Tornado Cash’s DAO will go back to token holders. Source

Crypto hacks falling in Q1 is but a ‘temporary reprieve’ — Blockchain firm

The crypto community is being urged not to let their guard down despite a significant decline in crypto hacks during the first quarter of 2023 — with one firm warning it is most likely a “temporary reprieve, rather than a long-term trend.” 2022 was the biggest year for crypto hacking in history, with an estimated $3.8 billion stolen, primarily from decentralized finance (DeFi) protocols and North Korea-linked attackers, according to a report from Chainalysis earlier this year. However, this number appears to have drastically reduced in the first quarter of…

First Mover Asia: Will Bitcoin Soon Begin a Retest of 30K?

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Is MetaMask withholding customers’ crypto for taxes? No, it’s not.

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ConsenSys, the company behind the crypto wallet MetaMask has hosed down rumors that it collects taxes from cryptocurrency users.  The company informed its 270,000 Twitter followers on May 22, that the rumors were based on ”inaccurate information” drawn from a misreading of MetaMask’s Terms of Service. We are aware of tweets circulating with inaccurate information about ConsenSys’ terms of service. Let’s clarify one thing upfront: MetaMask does NOT collect taxes on crypto transactions and we have not made any changes to our terms to do so. This claim is false.…

DigiToads’ TOADS outpaces ethereum in the ongoing presale

DigiToads is a new crypto project with a toad as its mascot. It offers is practical features and presents earning opportunities for users. These utilities can be accessed through DigiToads’ native token, TOADS. However, investors are considering the project because TOADS offer more utilities than other meme coins. Moreover, TOADS is growing rapidly, attracting short and long term investors.  Already, over 92% of TOADS allocated for stage six of the presale have been sold. At this phase, early adopters are in profits, outpacing gains posted by top crypto coins like ethereum…