Category: Blockchain

Tracking stolen crypto — How blockchain analysis helps recover funds

Amid the rapid evolution of decentralized finance (DeFi) and the broader Web3 landscape, security is of paramount importance. New threats continue to emerge, making it essential to understand attack patterns for risk assessment and reliability evaluation. In 2023 alone, over $990 million was lost or stolen, according to Cointelegraph’s Crypto Hacks database.  This growing demand for security has led to the emergence of a diverse ecosystem of Web3 security expertise, ranging from decentralized identity solutions to smart contract auditors, ensuring the safety of this dynamic digital space. Sign up to…

Blockchain Potential: A $2.1 Trillion Boost To Global GDP By 2030

In the age of growing digitalization, blockchain has emerged as a pivotal force propelling the progress of developing nations. This transformative shift is powered by the integration of cutting-edge technologies, including blockchain, with the capacity to revolutionize traditional economic sectors. By leveraging these technologies, developing countries can achieve improved efficiency, transparency, and innovation within their respective industries. Unlocking The Global Economic Potential Of Blockchain Technology A recent analysis by Agile Dynamics shows there is potential for the technology to significantly transform the landscape of international transactions. According to Agile analysts,…

Blockchain companies are creating AI chatbots to help developers

The artificial intelligence (AI) market is becoming one of the fastest-growing industries in the world. According to market research firm Next Move Strategy Consulting, the current AI market is valued at nearly $100 billion and is projected to grow exponentially.  Given this, it comes as no surprise that chatbots using AI are also on the rise. Recent findings from Precedence Research show that the global chatbot market size reached $840 million in 2022. AI chatbots for Web3 developers in the works As opportunities around AI and chatbots flourish within various…

Base network launches 8-week training course for blockchain developers

On October 20, the team behind Ethereum layer-2 Base network announced that it’s launching an eight-week training course to turn traditional software developers into blockchain developers. Called “Base Bootcamp,” the new program doesn’t cost anything to attend. However, it’s designed for “mid to senior level Software Engineering individual contributors” and students must fill out an application and be accepted to enroll. Less than 20 students will be accepted into each “cohort” or class, and the team will stop accepting applications on October 27, the announcement stated. Introducing Base Bootcamp, an…

How to improve your Web2 business with blockchain

The private sector is only scratching the surface of blockchain technology’s transformative potential. Traditional businesses need to start adapting to Web3 or risk getting left behind. The new internet has arrived Web3 isn’t just a buzzword — it’s a radical new paradigm where everyday people can not only experience and contribute to the digital world, but also directly and securely own part of it. Beyond Web3 native startups, this technology offers a range of benefits to Web2 companies that can help ensure their continued relevance. While many major Web2 corporations…

Reddit mods dumped tokens hours before blockchain program termination

Popular social network platform Reddit announced the wind-down of its blockchain-based community points program on Oct. 17 citing scalability issues. The announcement created controversy in the crypto community with many calling it a rug-pull as the price of the native token on different subreddits tanked after the announcements.  Each subreddit had its own native token. For example, the Moons (MOON) token was the native crypto asset of the r/CryptoCurrency board, while Bricks (BRICK) was for the r/FortNiteBR subreddit. Users could spend these points on badges and exclusive items for their…

Blockchain improves charity transparency — But is it right for everyone?

In 2021, the Australian branch of the Red Cross received $90 million to aid the victims of the bushfires that plagued various regions of New South Wales and Victoria.  However, the organization soon came under fire for its lack of transparency when it revealed that it would only distribute around one-third of the intended funds on immediate assistance and that it could take up to three years to distribute the total amount. One resident who lost his home to the fires told local media, “They made a lot of promises…

Google Cloud teams up with MultiversX amid blockchain firm’s focus on metaverse

Google Cloud has teamed up with blockchain infrastructure firm MultiversX (formerly Elrond) to boost its Web 3 presence. Google Cloud has integrated MultiversX into the platform which will in turn help Web3 projects and users derive valuable insights from powerful data analytics and artificial intelligence tools within the Google Cloud ecosystem. MultiversX claims that the partnership between the two firms has the potential to immediately streamline the execution of large-scale, data-first blockchain projects. This should help developers easily access data about addresses, transacted amounts, smart contract interactions, and increased on-chain analytics, the…

Settlements giant DTTC acquires blockchain infrastructure developer Securrency

The Depository Trust & Clearing Corporation (DTTC) has signed an agreement to acquire Securrency, a digital asset infrastructure developer. The acquisition will allow DTCC to embed digital assets gradually in its existing products and services, it said. Terms of the deal were not disclosed. It is expected to close “within the next several weeks.” Securrency will be renamed DTCC Digital Assets. Securrency’s top management and around 100 employees will remain with the company. The company was backed by State Street, U.S. Bank, WisdomTree and Abu Dhabi Catalyst Partners and partnered…

xDay 2023 Day 1: How MultiversX Is Bridging The Metaverse, AI, And Blockchain Under Ecosystem

In the next three days, our team at Bitcoinist will cover xDay 2023, an event organized by MultiversX in the Palace of Parliament, Romania. Formerly known as Elrond, the project rebranded in 2022 and focused on the Metaverse, one of the hottest trends in crypto. Following The Trend, What To Look For At xDay 2023? In addition to rebranding, the project launched new products, including a “Super App” called xPortal, to expand its ecosystem. The project founder and CEO, Beniamin Mincu, has been vocal about their attempts to provide “real”…