PRESS RELEASE. In today’s day and age, social networks play an immense part in people’s lives. However, some privacy issues and other concerns have surfaced and become problems that many centralized bodies have yet to address. Somewhat unexpectedly, the need for a decentralized network has emerged, leaving many to try and grab a piece of […]
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The president of Peru’s central bank has indicated that the country will be joining forces with India, Singapore, and Hong Kong to develop its own central bank digital currency.
Let's admit it, some of us invest in tokens that are high risk/ high reward. However, tokens with high yield have high chances of getting hacked or rugged. What are some things to look out before investing in risky projects. submitted by /u/blockmessiah [link] [comments]
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According to data from WhaleStats, the 1,000 largest ETH wallets hold $2.35 billion worth of SHIB combined, representing around 9% of the total market cap.
South Koreas will be immersed in the Metaverse sooner than later, as industries and public services begin rolling out virtual avatars and applications across the country.
Manta Network, the privacy protocol for Polkadot, sold 80 million of its governance MANTA tokens to raise $28.8 million. The project sold 8% of its 1 billion fixed supply at its Squad Game token generation event hosted by Tokensoft, which saw widespread participation from the Manta community. This latest funding round comes after the $5.5 million funding round that took place last month, which was led by CoinFund and ParaFi Capital. Before this, it had a $1.1 million round led by Polychain Capital in 2021 itself. After winning the parachain network on Polkadot’s canary network Kusama, Manta Network is now preparing for the next stage of its development with the forthcoming Polkadot parachain auctions, which officially began on November 11. $130 million have already been pledged by users to its crowdloan initiative as parachain auctions commence. But the holders of Polkadot’s native DOT tokens can still contribute to the crowdloan with MANTA rewards. Manta’s utility tokens grant its holders rewards for MantaPay and MantaSwap usage fees in addition to on-chain community-governance rights. Building a Private Smart Contract Platform The privacy layer for the Polkadot ecosystem, Manta Network, is working to make on-chain privacy a utility through scalability and interoperability. And it has developed several platforms to improve the privacy and security of the decentralized finance (DeFi) ecosystem. For users, this means on-chain privacy in transacting and swapping any parachain assets. These DeFi-oriented privacy protocols include the automated market maker DEX MataSwap and payment protocol Mantapay, which has embedded privacy. Here, Manta basically adds a layer of anonymity to DeFi transactions by obfuscating user addresses through the application of zk-SNARKS and Groth16 proofs. It is particularly helpful for those transacting in large amounts as it can help mask their portfolio management activities. Manta Network is also building a private smart contract platform. Leveraging zero-knowledge proofs for privacy, this platform will deploy privatized decentralized applications and allow developers to build their own DApps on it to expand the Manta ecosystem. The project has a long line of prominent crypto industry backers, including Alameda Research, Polychain Capital, DeFiance Capital, CoinFund, ParaFi Capital, The Spartan Group, LongHash Ventures, Divergence Capital, Zee Prime Capital, CMS Holdings, ConSensys, Digital Currency Group (DCG), and more. Manta Network is also bringing its privacy features to the metaverse by partnering with Bit.Country. “Many other individualized worlds will be able to utilize their privacy features for their people,” says the Manta team.
As cryptocurrency continues to permeate the everyday lives of the masses, it brings convenience and newly found freedom to places and economies ravaged by mass inflation. Contrastingly, those sitting somewhat comfortably at Capitol Hill seem to have had their feathers ruffled by the ever-growing presence of Decentralised Finance and cryptographic tokens. Increasing concerns about the lack of oversight and policy within the expanding $110 billion stablecoin market have led to the possibility of stablecoin issuers such as Tether and Circle being soon subjected to bank-like regulations. According to a report from the Wall Street Journal, the proposal is part of an upcoming stablecoin report from a Treasury-led presidential advisory group, expected to be released late this month of October. So how could these regulations potentially affect stablecoins? One way the market could change is more transparency. In a recent speech discussing the potential for the USA to have its own central bank digital currency, pro-crypto Senator Cynthia Lummis expressed concern for the authenticity of stablecoins’ financial backing, saying that they “must be 100 percent backed by cash … and this should be audited regularly.” However, not all stablecoin initiatives are created equal. Stablecoins such as EURST set themselves apart through the execution of proper auditing and possession of transparent financial reserves. OCC banking charters have already been conditionally issued to crypto custodian company Anchorage and stablecoin issuer Paxos. National charters for crypto companies will allow them to operate throughout the US without being thwarted by bureaucratic hurdles across 50 states. As a result, these regulations could even expand use-cases for stablecoins – crypto services such as lending and staking will now be connected with the mainstream financial system. Stablecoin issuers and custodians, under such a charter, could legally become Qualified Custodians, thus removing any doubts around the management of cryptographic keys and making way for the most cautious investors such as those in pension funds to enter into the space. Despite having potential, not all of these ideas may send stablecoins in a positive direction. The unregulated approach that has made crypto and stablecoins attractive in the first place, if tampered with, could turn away many from wanting to use stablecoins. Enthusiasts of the decentralized way of doing things could easily sell their stablecoin holdings and move them elsewhere – perhaps massively tanking the use of stablecoins. Then what will happen? Will their asset pegs leave them remaining valuable whilst largely untouched by the doubtful masses? Or will new kinds of use-cases and investors keep the stablecoin initiatives of the modern economy afloat? Time will tell.
