OP Labs, the company behind Optimism, has gotten some heat in the past about not having fraud proofs securing its mainnet, including from the CEO of Offchain Labs, Optimism’s competitor and the company behind the Arbitrum blockchain, who tweeted: “Without fraud proofs, Ethereum provides zero security.” Source link
Bart Stephens, the co-founder of Blockchain Capital, a prominent venture fund specializing in cryptocurrency investments, has reportedly fallen victim to an alleged SIM swap hack that cost him a staggering loss of $6.3 million worth of digital assets. This incident sheds light on the growing menace of SIM swap attacks, which the Federal Bureau of Investigation warned about in 2022. These attacks target individuals with substantial cryptocurrency holdings and have surged in frequency, with the FBI estimating a loss of $72 million to this tactic last year, marking a rise…
One of the fundamentals of launching an NFT collection is choosing where you’ll mint it to reach the moon. If everyone is choosing the Ethereum and Solana blockchain to mint their collection, does it mean it’s good for your collection too? Sometimes, less saturated blockchains like Ripple, Tezos and Polygon can turn out to be a blue ocean for your collections. I’ve sold a client’s collection on Ripple. There are many other examples of brands that made their grand foray into less saturated chains. For example, McLaren did two successful…
Let’s do a simple exercise, shall we? Try to imagine a world where innovations in banking, finance, power, medical services and social media are the best they have ever been. One where these industries and several others are powered entirely by unbreakable, difficult-to-hack-or-crack streams of data. A world where this kind of superpowered data is run by powerful algorithms, and is capable of learning, updating and improving itself. Do you think such a world is possible? It might be closer than you think. Over the last decade, AI and blockchain have…
In November last year, NFT marketplace Opensea announced that the Binance Smart Chain Chain (BSC) was one of the several blockchains it was adding support for. However, that collaboration seems to be ending less than a year after. OpenSea To End Support For BSC NFTs In an announcement on the X (formerly Twitter) platform on August 17, the NFT marketplace stated that users would no longer be able to list or buy NFTs minted on the BSC chain. However, users “will still be able to view, discover, and transfer BSC…
IBM vice president and chief technology officer of IBM Automation, Jerry Cuomo, recently published a blog post laying out what he claims are several risks associated with using ChatGPT for enterprise. There are several key risk areas, according to the blog post, that businesses should consider before operating ChatGPT. Ultimately, however, Cuomo concludes that only non-sensitive data is safe with ChatGPT: “Once your data enters ChatGPT,” writes Cuomo, “you have no control or knowledge of how it is being used.” Per the post, this type of unintentional data leakage could…
HUAWEI CLOUD, the cloud service division of global technology titan Huawei, has officially entered into a “Memorandum of Understanding (MoU)” with COBO, a frontrunner in digital asset custody solutions. This landmark announcement was made during an exclusive, closed-door event. The collaboration between HUAWEI CLOUD and COBO is not just a partnership but a shared vision. Both entities are striving to accelerate the adoption and evolution of blockchain technology across Asia. HUAWEI, with its extensive experience spanning over three decades in ICT infrastructure products and solutions, has always been at the…
According to a recent report by the gaming news outlet Game Is Hard, Take-Two Interactive Software, the renowned publisher of the popular video game franchise “Grand Theft Auto,” has made a significant foray into the blockchain gaming industry. The company recently unveiled its blockchain-based game, “Sugartown,” built on Ethereum. This move by Take-Two is viewed as a notable endorsement of the potential of blockchain gaming, which has long been anticipated to drive mainstream adoption of cryptocurrencies. The Blockbuster Meets Blockchain Take-Two’s decision to embrace blockchain gaming represents a significant step…
Episode 16 of Hashing It Out explores one of the most popular cryptocurrency use cases: payments. Mark Smargon, CEO of Fuse, joins host Elisha Owusu Akyaw to discuss various Web3 payment solutions and how Fuse contributes to businesses’ adoption of cryptocurrency payments. Smargon explained that the payment network’s strategy involves looking beyond investments to focus on everyday use cases like payments, which will likely bring more sustainable adoption. Despite the goal, Smargon recounted the difficulty in convincing people and investors that businesses would adopt blockchain payments when starting Fuse in…
Within the first day, its limit for stETH and rETH – Lido and RocketPool’s liquid staking tokens – was reached, with cbETH, Coinbase’s staked ETH, hitting its capacity the next day, highlighting the enthusiasm of crypto users toward EigenLayer. Source link