The development of blockchain industry and how to defend against attacks on DeFi

Nowadays, the blockchain market as a whole is in its infancy, and the decentralized finance (DeFi) market is its most promising part. According to DefiLlama data, in 2021, the DeFi market had around $200 billion of liquidity locked in smart contracts. If we view this capital as an initial investment, this market looks like a highly promising venture. Not too many global companies can boast of such a capitalization. But any young market has its teething problems. With DeFi, the main issue is a lack of qualified blockchain developers. This…

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Lending network enables transparent credit history in Africa via blockchain partnership

African mobile banking platform Aella has partnered with Creditcoin Network to integrate transparent credit history by integrating all its transactions into Creditcoin’s public blockchain. In an announcement sent to Cointelegraph, Creditcoin said that all Aella’s credit transactions will be recorded on the Creditcoin blockchain, making it easy to audit and available for viewing through their block explorer. The recorded transactions will include the terms of the loan as well as payments and repayments. Creditcoin said that the partnership comes with the release of Creditcoin 2.0, an upgrade that makes the…

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All 5B toncoins mined on PoS TON blockchain

The TON Foundation, an organization developing the Telegram-initiated blockchain project, the TON blockchain, on Tuesday officially announced that TON miners have mined the final toncoin. “Tens of thousands of miners have mined the entire issuance of toncoins, which was about 5 billion tokens,” TON Foundation founding member and core developer Anatoly Makosov said in a statement to Cointelegraph. The last toncoin was mined on June 28, he noted. The end of toncoin mining marks a major milestone in TON’s distribution, starting its new era as an entirely PoS blockchain. From…

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China’s Blockchain Service Network (BNS) Chair Tags Bitcoin A Ponzi and Stablecoins Fine If Regulated

As the Chinese government continues to celebrate the decline of the cryptocurrency market, a top Chinese blockchain expert has called crypto a Ponzi scheme. The CEO of Red Date Technology, one of the leading tech firms in developing China’s major blockchain project, Yifan He, recently wrote an article where he explained the Ponzi-like nature of various kinds of cryptocurrencies. The local newspaper, The People’s Daily, published the article on Sunday. In the piece, Yifan tagged private cryptocurrencies as the “biggest Ponzi scheme in human history.” Yifan also mentioned the collapse…

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How blockchain can open up energy markets: EU DLT expert explains

Aside from the buzzing neologism of Web3, there is a bit less catchy but hardly less important concept of Industry 4.0, which includes the new and revolutionary drivers of the next generation’s industrial landscape. And, especially when it comes to the energy sector, blockchain lies at the heart of these technologies.  The authors of a recently published EUBlockchain Observatory report “Blockchain Applications in the Energy Sector” are convinced that distributed ledger technology (DLT) could become a key enabler technology and has a very high potential to influence or even disrupt…

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Transparent financial systems won’t get real traction, blockchain exec argues

As the conversation around privacy intensified with the recent Litecoin (LTC) upgrade called Mimblewimble and regulators’ reaction to the feature, Adrian Brink, the founder of blockchain protocol Anoma, weighed in on the topic and shared his perspectives to Cointelegraph.  According to Brink, privacy is an essential tool for democracy because it prevents huge corporations from targeting people and segregating them into different bubbles. The Anoma founder told Cointelegraph that: “The fact that you have surveillance capitalism allows micro-targeting to such an extent that it can put people into their own…

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dYdX moves to Cosmos-based blockchain for V4 to optimize decentralization and trading flow

On Thursday, crypto derivatives platform dYdX, which is currently built on Ethereum Layer 2, announced that it would be moving to a standalone blockchain based on the Cosmos SDK and Tendermint proof-of-stake consensus for its V4 update. The firm cites the Cosmos blockchain’s decentralization and performance as reasons for being a “best fit” for building dYdX for V4. Currently, the existing dYdX protocol processes about 10 trades per second and 1,000 order placements and cancellations per second, with the goal to scale to magnitudes higher. However, the firm says that…

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eBay acquires KnownOrigin, expanding its foray into NFTs and blockchain

eBay, an e-commerce giant, has announced the acquisition KnownOrigin, a nonfungible token (NFT) marketplace that will help the e-commerce company foray further into the world of blockchain technology and digital collectibles. According to a press release on Wednesday, Manchester-based KnownOrigin has been purchased for an undisclosed amount. The firm enables artists and collectors to create, purchase and resell NFTs via blockchain-enabled transactions. KnownOrigin co-founder David Moore in a statement said that the company was founded to “empower creators and collectors by giving them the ability to showcase, sell and collect…

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Blockchain isn’t as decentralized as you think: Defense agency report

Distributed ledger technology (DLT) and blockchains including Bitcoin and Ethereum may be more vulnerable to centralization risks than initially thought, according to Trail of Bits.  The security firm on Tuesday released its report titled “Are Blockchains Decentralized?”, which was commissioned by the U.S. Government’s Defense Advanced Research Projects Agency (DARPA). The report aims to investigate whether blockchains including Bitcoin and Ethereum are truly decentralized, though the report appeared to focus largely on Bitcoin. Among its key findings, the security firm found that outdated Bitcoin nodes, unencrypted blockchain mining pools and…

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Blockchain investments are disrupting the real estate industry: Report

The Cointelegraph Research Terminal, the leading provider of premium databases and institutional-grade research on blockchain and digital assets, has added a new report to its expanding library from the industry leader in tokenization.  This report from Security Token Market and sister company Security Token Advisors covers the rapidly emerging asset-backed real estate tokenization industry. This report has information on the developing shifts in the industry and is a must for any firm or business with a portfolio that encompasses real estate. The tokenized real estate industry is growing rapidly amid…

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