Many NFT projects lack adequate smart contract testing, says nameless founder

Jimmy McNelis, the founder of Web3 tech firm nameless, says there are too many NFT projects rushing to market without proper smart contract testing — potentially leading to millions lost. Speaking with Cointelegraph, McNelis suggested that a lot of NFT projects often rush to market without fully simulating how its smart contracts will work, even skipping extensive audits in some cases. McNelis said an example of this was observed during the sale of the Akutars NFT collection in February 2021 — featuring 15,000 tokens that went up for sale on Winklevoss-owned NFT…

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China begins next phase of CBDC testing with e-CNY payment for public transport

According to multiple sources, on Tuesday, China officially began rolling out the next round of its central bank digital currency (CBDC) pilot test program. In the city of Guanzhou, it is now possible to pay for public bus rides with the digital yuan (e-CNY) CBDC on 10 transit routes, which is a first for the country. To do so, passengers simply need to download the e-CNY app, deposit funds and scan the QR code located in the bus payment section to pay for their ride.  Similarly, the day before, the…

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Bitcoin Price Gears Up For Another Rally After Testing $25,000

Bitcoin price has been bouncing up and down over the last couple of weeks, but the digital asset has finally found its direction. With this recent recovery, the price of bitcoin has made its way to sit comfortably above $24,000 presently. The digital asset had tested one of the most coveted spots on Sunday but had sadly been rejected. That has not stopped it, though, as bitcoin is gearing up for another rally towards $25,000. $25,000 For Bitcoin Price After touching $25,000 on Sunday, the bitcoin price had taken a…

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Meta set to begin testing NFTs on Instagram Stories with SparkAR

Instagram’s parent company Meta announced Wednesday that it will begin testing NFTs on Instagram Stories using its augmented reality platform SparkAR. CEO Mark Zuckerberg said of the announcement, “We’re expanding our test so more creators around the world can display their NFTs on Instagram.” The company also mentioned in a recent article,  “Creators and collectors will be able to share their digital collectibles across Facebook and Instagram after we begin rolling out the feature on Facebook with select US creators at a later date.” Zuckerberg confirmed that Facebook is set to support NFTs…

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Do Kwon faces legal troubles in Korea, China remains a top contributor to Bitcoin mining, and Ethereum eyes ‘huge testing milestone’ ahead of merge: Hodler’s Digest, May 15-21

Coming every Saturday, Hodler’s 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 Court documents reveal Do Kwon dissolved Terraform Labs Korea days before LUNA crash Terraform Labs co-founder dissolved two of the entity’s locations in South Korea, as well as Terraform Labs Korea, just prior to the LUNA and UST collapse, according to legal documents. Although the…

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ETH devs implement first-ever ‘shadow fork’ as PoS testing continues

Ethereum developers implemented the network’s first-ever “shadow fork” on Monday, marking an important milestone in the ongoing shift to proof-of-stake (PoS) consensus.  The shadow fork provides a venue for developers to stress test their assumptions around the network’s complex shift to PoS, according to Ethereum Foundation developer Parithosh Jayanthi. “The aim of the Kiln merge testnet was to allow the community to practice running their nodes, deploying contracts, testing infrastructure, etc.,” he tweeted on Sunday. Wondering what the #TestingTheMerge team has been up to? The aim of the Kiln merge…

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Sweden’s central bank completes second phase of e-krona testing

The Swedish central bank’s digital currency project, a proposed CBDC, known as the e-krona has successfully finished its second phase of trials. According to Riksbank, the nation’s central bank, the asset is now technically ready to be integrated into banking networks and facilitate transactions.  During the second phase of the e-krona pilot project — which began in February 2021 — the CBDC was investigated on the matter of its technical ability to function within the country’s existing digital banking infrastructure. Participating banks included Handelsbanken and Tietoevry. The report indicated that…

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Ethereum Merge testing on Kiln mostly successful, save for one minor bug

On Tuesday, Ethereum (ETH) developer Tim Beiko tweeted that Kiln successfully passed the Ethereum Merge, with validators producing post-merge blocks containing transactions. Kiln will be the last Merge testnet (formerly Ethereum 2.0) before existing public testnets are upgraded. “Merge” involves taking Ethereum’s Execution Layer from the existing Proof of Work layer and merging it with the Consensus Layer from the Beacon chain, turning the blockchain into a proof-of-stake network. The Foundation writes:  “This merge signals the culmination of six years of research and development in Ethereum and will result in…

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Reddit is testing out NFT profile pics but ‘no decisions have been made’

Reddit is testing out NFT profile pictures on its platform, with the news coming just a week or so after Twitter implemented a similar feature. The popular social media platform had around 430 million monthly users in 2021, and is reportedly working on an NFT profile picture implementation that will enable users to set their profile picture to any non-fungible token with an attached image. In an Interview with Techcrunch on January 27 , Reddit spokesperson Tim Rathschmidt stated that: “We’re always exploring ways to provide value for users and…

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WhatsApp starts testing currency payments with Meta’s Novi wallet

Despite some senators in the United States opposing Meta launching its digital currency products, the development of the social media giant’s digital wallet, Novi, continues apace.  Stephane Kasriel, the head of Meta’s cryptocurrency and fintech unit Novi, officially announced on Dec. 8 that Meta’s messenger subsidiary WhatsApp has started testing transactions through Meta’s Novi wallet. According to the exec, the new feature is available for a “limited number of people” in the United States, allowing users to send and receive money on WhatsApp “instantly and with no fees.” There’s a…

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