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Showing posts from April, 2022

Self-custody, control and identity: How regulators got it wrong

The EU proposal requiring one to link a self-custodial wallet to their identity fundamentally misunderstands the concept of self-custody. The recent European Union proposal requiring centralized crypto exchanges and custodial wallet providers to collect and verify personal information about self-custodial wallet holders shows the dangers of recycling traditional finance (TradFi) rules and applying them to crypto without appreciating the conceptual differences. We can expect to see more of this as countries look to implement the Financial Action Task Force (FATF) Travel Rule , initially designed for wire transfers, to transfers of crypto assets. The (missing) link between self-custody, control and identity The aim of the proposed EU rules is “to ensure crypto-assets can be traced in the same way as traditional money transfers.” This assumes that each self-custodial wallet can be linked to someone’s verifiable identity and that this person necessarily controls the wallet. This as

CyberCity game review: Fight for Crypto & Dominate the Cyberpunk Metaverse

Play2Earn games are the future of gamingб all because they completely turned the idea of ​​​​the mechanics of earning crypto and in-game assets ownership. Today you can earn cryptocurrencies just by playing games. One of the most promising P2E games is called CyberCity. We decided to go behind the scenes and find out what makes the game so remarkable and how users can earn money in it. The fight for resources and power: reveal the storyline of the game Cyber ​City Inc is a new game with an open Play-to-Earn economy, great gameplay,  tradable NFT assets, and sustainable tokenomics. The game takes place in the distant 2088 in a dystopian megapolis. Players can collect their unique scarce NFTs and fight fo resources to dominate the cityblocks. Their task is to get as many resources and lands as possible, which are necessary for the survival and progress. Some resources can be bought from other participants or created on your own, and some will have to be fought for in battles. The game i

Rari Fuze hacker offered $10M bounty by Fei Protocol to return $80M loot

DeFi investigator BlockSec’s monitoring system detected a loss of more than $80 million — citing the root cause as a typical reentrancy vulnerability. Decentralized finance (DeFi) platform Fei Protocol offered a $10 million bounty to hackers in an attempt to negotiate and retrieve a major chunk of the stolen funds from various Rari Fuse pools worth $79,348,385.61 or nearly $80 million. On April 30, Fei Protocol informed its investors about an exploit across numerous Rari Capital Fuse pools while requesting the hackers to return the stolen funds against a $10 million bounty and a ‘no questions asked’ commitment. We are aware of an exploit on various Rari Fuse pools. We have identified the root cause and paused all borrowing to mitigate further damage. To the exploiter, please accept a $10m bounty and no questions asked if you return the remaining user funds. — Fei Protocol (@feiprotocol) April 30, 2022 While the exact losses from the exploit were not officially released, DeFi

Is Web3 like playing Minecraft?

Web3 is coming. Are you ready for it? Use the newest version of the internet and expand your whole online experience. How to use Minecraft to understand Web3? Minecraft makes the transition from analog block building to an immersive gaming experience rather easy and playful. Users can turn the Minecraft experience into whatever they want it to be. They can play, create, socialize and invest. For everyone who wants to hop on the Web3 train and explore the opportunities of the Metaverse can start by playing the game in a 3D world. It goes without saying that if you’re familiar with Minecraft or even the concept of online gaming in general, you can imagine how to build and play in one or more virtual worlds. This Minecraft universe, especially with the newest addition of the NFTs, is like the portal to the Metaverse. Build blocks in the Minecraft worlds and continue to build blocks — on the blockchain — in NFT Worlds. The Minecraft Metaverse? Minecraft not only enables P2E and ente

Meta to launch metaverse hardware store, Elon Musk buys Twitter for $44B and ApeCoin pumps to new highs: Hodler’s Digest, April 24-30

Coming every Saturday, Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more a week on Cointelegraph in one link. Top Stories This Week Elon Musk buys Twitter for $44B crypto industry reacts Eccentric billionaire Elon Musk bought Twitter for around $44 billion this week, or $54.20 per share in cash. After the deal was accepted, Musk said he hoped that even my worst critics remain on Twitter, because that is what free speech means. The crypto industrys reaction was mixed, with Dogecoin co-creator Jackson Palmer describing the acquisition as a hostile takeover antithetical to the idea of freedom, while Bitcoin bulls Anthony Pompliano and Michael Saylor welcomed the move.       ApeCoin (APE) hits a new all-time high ahead of this weeks Otherside land auction Bored Ape Yacht Club-affiliated ApeCoin (APE) hit a new all-time high of $2

Bitcoin Struggles To Hold $40K While Crypto Track US Stocks

Crypto is mirroring stock markets’ gains again today, with Wall Street’s sharp climb after opening higher likely to provide further impetus for Bitcoin. Last Friday, the crypto market saw a significant decline correlating US Indexes.  Bitcoin and Ethereum, the major players in the crypto market, gained 2% in the past 24 hours. Both crypto combined capitalization reached nearly $1.2 trillion today, with total crypto market capital at $1.9 trillion.  Related Reading | Ethereum Trades Below $3,000 Support, Why Is ETH Falling Since November? The crypto markets see a broad recovery as equities continue their upward trajectory. The BTC/USD pair is trading above $40,000 while ETH/USD has gained ground close to the $3,000 resistance level. Both coins are gaining amid this positive trend for all assets. The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite have all gone up today. The S&P 500 is up 2.3%, the Dow Jones Industrial Average is higher by 1.7%, and the Nasdaq Com

2 key metrics point toward further downside for the entire crypto market

Futures data and decreased demand for Tether signal that the crypto market is set for another round of pain. The total crypto market capitalization has been holding a slightly ascending trend for the past 3 months and the $1.75 trillion support was most recently tested on April 27 as Bitcoin ( BTC ) bounced at $38,000 and Ether ( ETH ) at $2,800 on April 27. Total crypto market cap, USD billion. Source: TradingView The crypto market’s aggregate capitalization showed a 3.5% decrease in the last 7 days and notable losers were a 18.8% loss from XRP , a 10.2% loss from Cardano ( ADA ), and 9.7% drop in Polkadot ( DOT ) price. Analyzing a broader range of altcoins provides a more balanced picture, that includes 25% gains from some gaming and Metaverse projects in the same time period. Weekly winners and losers among the top 80 coins. Source: Nomics Apecoin (APE) rallied 44% due to the upcoming Otherside metaverse land auction scheduled for April 30. The Otherside is being develo

Here are 3 ways hodlers can profit during bull and bear markets

The bull market may be over, but that doesn’t mean traders have to stop investing. Here are a few ways to invest in crypto even during a bear market. For years, cryptocurrency advocates have touted the world-changing capability of digital currency and blockchain technology. Yet with the passing of each market cycle, new projects come and go, and the promised utility of these “real-world use case” projects fails to satisfy. While a majority of tokens promise to solve real-world problems, only a few achieve this, and the others are mere speculative investments. Here’s a look at the three things cryptocurrency investors can actually “do” with their coins. Lending Perhaps the simplest use case offered to cryptocurrency holders is also one of the oldest monetary applications in finance: lending. Ever since the decentralized finance (DeFi) sector took off in 2020, the opportunities available for crypto holders to lend out their tokens in exchange for rewards have multiplied. Blue-chi

XRP Faces Rejection At Key Resistance; Here’s What On-Chain Metrics Suggest

XRP has been on a downtrend owing to a lack of demand for over a week now. The coin has retouched a multi-month low at the time of writing. Broader market weakness also remains to be blamed along with a whirlwind of regulatory roadblocks owing to SEC vs Ripple’s lawsuit. Overall it hasn’t been a very favourable time for the altcoin. The market capitalisation of XRP has noted a 7% decline over the past 24 hours according to CoinMarketCap. The market capitalisation of the coin was $29.13 billion at the time of writing. The global crypto market cap was at $1.85 Trillion after a fall of 1.8% over the last day. XRP’s all-time high was $3.84 and at the present market value, XRP has fallen by over 80%. XRP Price Analysis: Four Hour Chart XRP was priced at $0.607 on the four-hour chart. Image Source: XRP/USD on TradingView XRP was priced at $0.607 at press time and it noted a decline of $6.7% over the last 24 hours. In the past week, the digital asset’s market value fell by over 17%. The c

ECB, Eurosystem begins experimental prototyping of digital euro customer interface

Up to five banks or other payment services providers will be selected to participate without compensation in the development of the digital euro front end. Progress will continue on the development of the digital euro as the European Central Bank (ECB) and Eurosystem have begun looking for companies to participate in an exercise to prototype customer-facing payments services. Payment service providers, banks and other relevant companies were invited to express interest in the project in an announcement released Thursday. Eurosystem, which comprises the ECB and the national central banks of countries that use the euro, stated that it will select up to five front-end providers on the basis of their capabilities and the use cases they present. While participants are not required to have previous experience with the service they will prototype, experience will be considered in the selection process. The prototype providers will be expected to develop front-end applications in accordan