Day: October 8, 2023

Blockchain web hosting: advantages and limitations

Blockchain web hosting could be a promising solution for enhanced data privacy, security, and control. However, it is not without potential drawbacks. The emergence of blockchain technology has sparked the development of web3, also known as the “semantic web.” Web3 aims to incorporate blockchain technology, artificial intelligence (AI), and machine learning (ML) to create a permissionless, trustless, smarter, and more responsive Internet experience. It means users could interact without intermediaries or authorization from governing bodies. Furthermore, the new web could make it possible to integrate newer, more immersive, and inclusive…

Dogecoin In A Dire Position As Daily Active Addresses Drop Drastically

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Dogecoin, which began as a meme cryptocurrency, has demonstrated that it can compete successfully in the crypto market. Although Dogecoin is still the biggest meme crypto, on-chain data points to the crypto losing steam among whale investors. According to data from IntoTheBlock, the number of Dogecoin transactions valued at $100,000 or more has declined sharply over the past few months. Data also shows that the number of daily transactions has been on a steady decline since May. Dogecoin Whale Transactions  Dogecoin seems to be losing interest from whale traders. A…

Ripple CTO seeks community consensus for XRPL AMM feature adoption

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Ripple chief technical officer (CTO), David Schwartz has advocated for XRP Ledger (XRPL) validators to support the automated market maker (AMM) feature, but only if there is consensus within the community. On X (formerly known as Twitter), Ripple’s CTO initiated a discussion on the XRPL’s AMM feature. In his initial post, Schwartz referred to AMMs as the intriguing decentralized finance (DeFi) innovation gaining attention, sparking queries for more details. The XRP Ledger is a decentralized blockchain-based ledger that powers the XRP cryptocurrency. known for its speed and scalability, making it…

Bitcoin bulls encircle $28K as trader says ‘big’ buyer must step in

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Bitcoin (BTC) kept up renewed pressure on $28,000 into the Oct. 8 weekly close as geopolitical uncertainty entered traders’ radar. BTC/USD 1-hour chart. Source: TradingView Trader: Bitcoin behavior at resistance “not the best” Data from Cointelegraph Markets Pro and TradingView showed BTC price performance avoiding downside volatility over the weekend. The pair recovered from a snap retest of $27,000 on Oct. 6, thanks to surprise United States employment data which diverged from policy tweaks by the Federal Reserve. Now, the $28,000 resistance formed the main point of interest for market…

Unicoin Strikes $335M Cryptocurrency Deal for Thailand’s Largest Luxury Resort Acquisition

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Unicoin has sealed a monumental $335 million deal for the acquisition of the Eden Grand Resort in Chonburi, Thailand. This transaction marks the largest-ever real estate purchase conducted with cryptocurrency. Unicoin, known for mitigating the volatility of the crypto market through its asset-backed approach, is set to acquire a sprawling 64,000 square meter property that includes plans for a 6-story building and 150 villas, Unicoin said in a press statement. The purchase will be executed using unicoins, in line with Unicoin’s strategy of acquiring real estate assets at 140% of…

Pro XRP Lawyer John Deaton slams Sam Bankman-Fried’s sympathizers

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XRP holder’s attorney and crypto advocate John Deaton criticizes supporters of former FTX CEO Sam Bankman-Fried (SBF) during his ongoing trials related to the collapse of their crypto venture. Deaton expressed on his official X platform that individuals characterizing Sam Bankman-Fried as a well-intentioned individual who made “errors” and attributing the company’s rapid expansion to his loss of control are unfit to manage people’s finances. He suggested that such sympathizers should not be considered for interviews with prominent media outlets like 60 Minutes. A significant divide has emerged within the…

HTX claws back $8M in stolen funds, issues 250 ETH bounty to hacker

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Huobi Global’s crypto exchange HTX has confirmed the return of the funds stolen by a hacker in late September and issued a 250 Ether (ETH) bounty after resolving the issue. One of HTX’s hot wallets was drained of 5,000 ETH on Sept. 25, worth roughly $8 million at the time. Shortly after the hack occurred, the firm contacted the hacker and claimed to know their identity. HTX ultimately offered to pay a 5% bounty worth around $400,000 and to not take any legal action if they returned 95% of the…

Stars Arena secures funds to plug $3M exploit, set to reopen after security audit

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Avalanche-based Web3 social media app Stars Arena announced that it has secured the funding to cover the $3 million hole left by an exploit on Oct. 6. The team also added that it will re-open the smart contract once a full security audit has occurred. In an announcement on X, the Stars Arena team noted: “We have secured the resources to close the gap caused by the exploit. Additionally, a special white hat development team is coming in to rapidly review the security of the platform.” Important news: we have…