Tag: Blockchains

Binance restarts TORN deposits on ETH and BNB blockchains

On May 20, 2023, Binance made an announcement on Twitter that “Due to circumstances surrounding the protocol, Binance will temporarily pause $TORN deposits until further notice.” The exchange has since followed up the suspension with an announcement on May 29, stating that deposits are resumed. Restoring governance within the TORN DAO Binance has officially reopened deposits for the token on both the Ethereum (ERC20) network and the BNB Smart Chain (BEP20). The move comes after the successful execution of a proposal aimed at restoring governance within the TORN DAO, prompting…

Solana: Crypto’s Next Apple? Co-Founder Shares Bold Vision For The Blockchain’s Future

Solana is a layer-1 blockchain that has been making waves in the crypto industry since its launch in 2020. The co-founder, Raj Gokal, recently spoke to TechCrunch+ about the potential of Solana to become the “Apple of crypto.” Solana Co-Founder Thinks Its Blockchain Could Rival Apple’s Success According to Gokal, Apple’s success can be attributed to its relentless focus on user experience and performance. He believes Solana shares this same focus and is working to create a network that feels like the regular Internet but is an entirely new financial…

EMCO Network Unleashes Blockchain’s Potential for Precious Metal Industry and Financial Inclusion – Press release Bitcoin News

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press release PRESS RELEASE. EMCO Network, a pioneering Defi project, is set to revolutionize the digital and financial landscapes by leveraging its unique blend of real-world experience in precious metals and artificial intelligence sectors. Addressing the challenges faced by users from low socio-economic backgrounds, EMCO Network aims to provide a novel platform to tap into their digital identities, generating financial opportunities while fostering organic online interactions. The project’s robust and sustainable revenue model is built on its strong foothold in the precious metals industry. EMCO Network’s blockchain strategy is designed…

How blockchains can solve greenwashing and contribute to climate action

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As concerns about climate change and environmental sustainability continue to grow, many organizations are turning to innovative solutions to help address these pressing issues. One such solution is blockchain technology, which has the potential to revolutionize sustainability efforts across a variety of industries.  On April 25, a World Economic Forum (WEF) whitepaper featured blockchain as a tool to fight climate change. The whitepaper highlighted the benefits of using blockchains in the climate action community. From improving market transparency to democratizing access to climate action, the WEF wrote about various benefits…

Social Media App MeWe to Bring Frequency Blockchain’s Self-Sovereign Identity to Its 20M Users

Frequency is a parachain of the Polkadot blockchain, meaning it sets its own rules and follows its own logic but is compatible with the main Polkadot chain as well as other parachains. Parachains pay a comprehensive lease to Polkadot, often with funds gathered from their communities, instead of a fee for each block. This boosts the system’s scalability and stability, according to Frequency. As such, the Frequency blockchain can handle a lot of throughput, needed for social media applications. Source link

Blockchains like Solana brag about TPS — but it’s misleading

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The throughput of blockchains — namely, their ability to process X number of transactions per second (TPS) — is often touted in such a way as to downplay other considerations, such as decentralization and security. The blockchain trilemma, of course, acknowledges that succeeding in all three areas is challenging, though not impossible. There is no denying that throughput and scalability are important, indeed vital if blockchains are eventually to become the rails on which the financial system is run. However, there is a major misconception surrounding the metric used to…

Cross-Chain Bridge Aggregator LI.FI and InsurAce Pitch Protection for Moving Crypto Between Blockchains

LI.FI and InsurAce’s offering is nowhere near that level yet. At press time, the tool said it covered around 130 transactions, some $15,000 in value across eight different chains. The starting amount for the bridge cover fund currently stands at $200,000. “As a brand new product, we’re starting small and will increase capacity regularly to fit demand,” said InsurAce to CoinDesk over Twitter. Source

Exploit targets crypto veterans, drains over $10M across 11 blockchains

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An as-of-yet unidentified wallet-draining exploit has taken more than $10.5 million in nonfungible tokens (NFTs) and coins since December 2022 from experienced community members who were “reasonably secure.” MetaMask developer Taylor Monahan brought the issue to light and said that at least 5,000 Ether (ETH) had been stolen, but also noted that the extent of the losses has not yet been determined. Monahan highlighted that “no one knows how” the exploit works yet. For the past 48hrs I’ve been unwinding a massive wallet draining operation I don’t know how big…