Keep Network(KEEP)

Backwardation in Ethereum futures shows traders expect ETH to surge and everyone wants the “free” proof-of-work hardfork coins, but investors should also keep an eye on the bears.

Ethereum has successfully pulled off one of the most critical tests in crypto history, as it completed the final scheduled test before the merge, moving it closer to the adoption of the Proof-of-Stake model, an upgrade that it has been working towards for years. The upgrade has been touted as one of the most critical events in crypto history. A Final Dress Rehearsal Since its creation nearly a decade ago, Ethereum has been using the much-criticized Proof-of-Work consensus mechanism, involving miners competing with one another to solve complex problems and validate transactions. The problem with this approach is that it is highly energy-intensive, significantly impacting the environment. However, the smart contract platform has been working towards the Proof-of-Stake consensus mechanism, which would see the phasing out of energy-intensive mining. Instead, the new method would see validators stake their ETH and earn the right to validate transactions. Proof-of-Stake requires far less energy and is expected to significantly scale up transactions on Ethereum significantly. According to reports, the final test took place on Wednesday, 9:45 PM ET. a researcher with the Ethereum Foundation, Ansgar Dietrichs, described the test as successful, stating in a tweet that the most relevant metric for success in a dry run such as this is looking at the time to finalization. Another associate from Galaxy Digital stated that while the participation rate after the merge dropped, it could have been down to an issue with one of the clients. However, overall, the merge was a success. “A successful Merge = chain finalizes. Sure, the participation rate dropped, and it looks like there may have been an issue with one of the clients, but the Merge worked. We’ll likely see minor issues like this with the upgrade on mainnet too, but the point is, the Merge worked.” Merge To Go Live In September? While the timing of the merge will be discussed at length at a meeting of core Ethereum developers slated for Thursday. However, previous meetings and guidance have indicated that the Merge could go live as early as mid-September. Ethereum’s transition to Proof-of-Stake has seen repeated delays over the past few years. Core developers have admitted that progress has been slow to allow sufficient development, research, and implementation time. A Successful Test The Georli testnet, on Wednesday, simulated a process identical to what the main network will execute when it transitions into Proof-of-Stake. Testnets such as Georli allow developers on Ethereum to test out new upgrades and make any changes needed before implementing them on the main blockchain. Wednesday’s test showed that moving to Proof-of-Stake and its validation process significantly reduces energy consumption and also proves that the merge process is working. Josef Je, a developer who has previously worked with the Ethereum Foundation and now runs a permissionless peer-to-peer lending platform, stated that the Proof-of-Stake running on Georli will be identical to how Proof-of-Stake would run on the blockchain. The Ethereum Foundation shared the same sentiment, stating that Georli is the closest iteration to the mainnet and will play a critical role in smart contract interactions. Looking For Potential Bugs Tim Beiko stated that during tests, they know almost instantly if a trial run is successful or not. However, in this case, the developers at Ethereum will continue to keep an eye out for any potential issues that could crop up in the days ahead. Beiko stated, “We want to see the network finalizing and having a high participation rate amongst validators and also make sure we don’t hit any unexpected bugs or issues.” According to Beiko, tracking the participation rate is the easiest metric to gauge success. If the developer numbers dwindle during the test, it could signal an issue. He also stated that they could also look at Ethereum transactions and gauge the success of a test, stating that if the blocks have actual transactions in them, then the test is considered a success. The last major check, according to Beiko, is to check if the network is finalizing. “If those three things look good, then there’s a long list of secondary stuff to check, but at that point, things are going well.” A New Proof-of-Stake Proposal Developers at Ethereum have been testing Proof-of-Stake on a parallel chain called the Beacon Chain. According to Beiko, the original proposal required validators to stake 1500 ETH to use the system. However, the new Proof-of-Stake proposal sees this number drastically reduced to just 32 ETH. Beiko stated that while this isn’t a small sum, it is a much more accessible figure for users. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Enterprise-grade blockchain networks were born out of a necessity to provide solutions to the numerous challenges facing both consumers and enterprises amid a rapidly changing technological landscape. The rate of growth in the FinTech space has the dangerous potential to leave projects behind if they don’t keep pace with innovation, and that’s why developers are busy anticipating future developments, and implementing solutions to their problems in the here and now. Building the Future of Web3 Smart-contract usage revolutionized the blockchain space, and introduced us to the concept of DeFi and GameFi, but the utility of smart-contract transactions may soon be past its peak. Some projects are building a comprehensive, service-oriented architecture that allows network users to interact and transact directly. By building second-level protocols atop dedicated enterprise services like these can allow projects to side-step the common reliance on smart-contracts thanks to built-in payment systems and private shard chains. These services deliver all the features and functionality that users expect from a public blockchain network while cutting down on smart contract usage by around 90%, and retaining the security and privacy of enterprise-specific infrastructure. This results in cheaper transactions for users, and a greatly simplified development path for developers. What’s more, by removing the reliance on smart contracts, such services effectively cut out a major attack-vector which has plagued numerous popular blockchains to date. Blockchain-in-a-box solutions give enterprises a plug-and-play entry to the blockchain space - one prepared to handle applications spanning the finance, gaming, and information technology industries, and more. Thanks to the use of quantum-secure cryptography tools, enterprises get the assurance they need to launch long-lasting projects which stand the test of time.Simplicity and Composability Simplicity is key to onboarding new users and enterprises to a technology that has the potential to revolutionize a plethora of industries. In search of simplicity, many projects are foregoing complex network infrastructures and programming languages in favor of building from the ground up using common code like C, without any reliance on third-party protocols or services. Low-level architecture makes blockchain easy for other operating systems to interact with. One can easily envisage such networks being used in tandem with the simplest of consumer hardware - smart fridges, for example - because the technology is built on simple foundational principles and code. Software Development Kits (SDK) like the Cellframe SDK allows developers to build applications dedicated to a range of emerging industries - not least the gaming industry. Developers can use SDKs to easily create fair game worlds that encompass PvP (Player vs Player) and PvE (Player vs Environment) game modes, while ensuring that cheaters are exposed and removed from the network thanks to in-built security measures. Ultimately, Cellframe enables the construction of safe, secure, lightning speed blockchain networks that support the creation of distributed networks like VPN, CDN, cloud computing and video streaming platforms. Whereas most blockchain protocols which rely on a network of nodes to upload external data to the blockchain, Cellframe requires no such external or third-party service. Interoperability and Gaming Future-proofing technology involves helping projects build as close to the hardware layer as possible, removing all that is unnecessary, and simplifying the process for the end user. Since Cellframe acts as a zero-layer protocol made with compatibility and interoperability as prime objectives, Cellframe will eventually have full compatibility with WASM (Web Assembly) and EVM (Ethereum Virtual Machines), creating true interoperability between Cellframe and a range of internet and blockchain apps, services and networks. This will prove particularly relevant to the GameFi (gaming finance) space, as the end user will be able to traverse various disparate gaming worlds without having to create new sign-ups for each one. Bespoke governance solutions also make Cellframe ready for enterprise adoption, as it sidesteps many of the problems commonly encountered by blockchain projects. The Cellframe token (CELL) is emitted based on the votes of its community of DAO participants, meaning the community gets to decide on the most appropriate issuance rate for CELL. This means the protocol can’t be changed on a whim by developers. Furthermore, truly decentralized dApps (known as t-dApps) don’t allow for a single address to be in control of large CELL holdings at any one time. Rather, wealth is distributed among network participants to ensure network security, while removing any potential single points of failure. Enterprise tools are not lacking in the blockchain space; they are just waiting to be applied creatively. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Klangaverse is using blockchain technology to revolutionise the music industry. On this platform, artists can build an intimate fanbase, sell their music in the form of NFTs, and reap the rewards of community engagement. Through activities, events, weekly hangouts, and collaborative projects, artists can closely engage with their listeners. Music is about the connection between the creator and listener. Klangaverse builds a mutually beneficial community around this connection, for both artists and fans. Fully decentralised and built on the Binance smart chain, Klangaverse empowers the community to come together, enjoy music, and gain profits. Based on Web3 and decentralised finance properties, Klangaverse aims to put together a cooperative music movement, dedicated to supporting and promoting all involved. Klangaverse Payment Process Klangaverse has its own crypto token $KLG for the payment of artists and fans. It is passionate about keeping financial control in the hands of the artists, differentiating from other music platforms. This is a decentralised community, where musicians can decide on how revenues raised from their minted songs are split among the teams that made them. The Klangaverse ecosystem is not interested in controlling the musical finances of its users, instead, it is fair and considerate. $KLG will be distributed on the Binance Smart Chain with a max supply of 10,000,000,000 tokens. Their presale will consist of 3,000,000,000 tokens and there will be a 2 month vesting period to maintain integrity, security, and value stability. Game With Klangaspel! Klangaspel is Klangaverse’s exciting simulation-P2E adventure game where you can make fun revenue and play your favourite instruments! To enter, just purchase your instruments and lessons. You can pick from a wide range of instruments, from guitars to amps, drums, and violins. Make your musical dreams a reality. The Klangaverse Soundmap This is a coin with drive and dedication to its community. After completing its audit, Klangaverse aims to be listed on Coinmarketcap and Coingecko. Focussing on the musical aspect, Klangaverse plans to collaborate with 1000 musicians for initial NFT releases before launching on decentralised exchanges. The platform will then mint free music NFTs to all of the presale investors and launch the NFT marketplace. To maintain and promote the platform, Klangaverse will begin work on podcasts, radio, and streaming services, elevating its reach. This will include metaverse integration so that musicians can play concerts for their fans and NFT holders. These virtual performances connect with the ethos of the platform - the importance of the relationship between musician and listener. The community aspect of Klangaverse enables artists to easily collaborate, merchandise to be released for fans, and weekly events with games and rewards to take place. Community connection is at the heart of this platform. To reward early users there are several bonuses in place: In Stage 1 of the presale, receive an extra 9% of $KLG tokens every time you purchase In Stage 2, receive an extra 6% of $KLG tokens every time you purchase In Stage 3, receive an extra 3% of $KLG tokens every time you purchase This new cryptocurrency undoubtedly has the music community at its heart. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Set to develop on the Solana Chain, SolMad is an NFT collection in the Solana-verse where nomads travel in search of community, land and resources to keep themselves alive against the threat of extinction, global warming and natural disasters. SolMad will take its users on a journey of community-driven collaboration, collective building and togetherness. The Story of the SolMad It all begins in the depths of Gisana…made up of a community of tribes who are smart and handy, the SolMad face harsh weather conditions within the various ecosystems they travel through and live in. Amidst these are valuable resources and artefacts which they are able to mine and trade in various cities and towns on their travels. These communities, who move together in unity, work together to keep each other alive - which isn’t always possible. They risk their lives in harsh conditions to harvest powerful and valuable resources. Nevertheless, the SolMad tribes are a tight-knit community that always support each other. With their curious nature, the SolMad are capable of finding secret and forbidden locations thanks to their advanced navigation skills and tools. They often travel by foot or animals such as camels, horses or alpacas. They tend to travel by regular mode of transportation such as wagons, vardos or mobile homes too. SolMad are not stopped by anything; they even travel by water, often on canoes or living on barges. The SolMad often harvest or acquire valuable artefacts or resources, such as crystals or metal ores, silks, dyes and even figurines or statuettes! Depending on where they are travelling to, SolMad may even come across fruit, fish and spices too. These valuable assets are things that can be auctioned off for prizes in the universe through partnerships offline. Casinos began as a fun way to reconnect within SolMad communities, but soon talks of their fun and addictive games spread among the lands and led other travellers and tourists to leave the comfort of their cities and venture out to visit these casinos. Due to the kind and charitable nature of SolMad, the games are played fairly and for fun, though big, greedy cities oppose this largely. How it Works The SolMad is a deflationary collection of 10,000 NFTs. Like all great nomadic tribes, the SolMad is mobile. The narrative is one which is expansive, rich and will continue to grow into a wider world with unlimited capabilities for participants to not only collect and grow but also engage and have fun as a community! The SolMad are made up of four unique tribes: Panuk, Zuberi, Mira, Briar Besides that, the project will also have a maximum supply of 100,000,000 $BEADS, the currency of the SolMad communities as well as the utility currency within Gisana. The token will be quickly adopted for an endless list of use cases as the project continues to evolve. The SolMad goal is to develop a DAO focused on building and investing in the Solana Mobile ecosystem. DAO stakeholders will get early access to product testing, airdrops, and product betas. Roadmap The project’s roadmap may change over time, but the team take pride in being able to deliver a superior product in a timely and efficient manner. Their plans are as follows: Pre-Mint Community building Smart contract and project audit Build a pipeline of collaborative partnerships Mint Mint launch of the 10,000 NFTs Post Mint Secondary marketplace listing Announcement to the community about the project’s initial build priorities Community engagement (lore discovery) Treasury management begins Introducing staking incentives for future token product development The team also plans to launch future collections as well as potential token airdrops for participants. NFT Utility The SolMad team aims to begin building and investing in the Solana mobile sphere. To kickstart this mission, the SolMads collection will include the following utilities over time: Royalty deflation and LP backing A Solana mobile-focused DAO Raffle prizes IRL and auctions Casino - think gaming with USDC-dominated prizes at stake NFT asset purchasing and yield generation Resources purchases to upgrade Final Thoughts The SolMad team aims to begin building and investing in the Solana mobile sphere. The SolMads’ story is one that will be shared in the weeks to come. In the meantime, sit tight, and more secrets of the SolMads will be revealed as the mint day dawns ever closer. For more information, visit their Twitter here or join the conversation today on Discord here. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

As a newbie in the world of cryptocurrencies, you may face an array of difficulties, such as managing your crypto assets. There are many complexities in managing, trading, lending, borrowing, and swapping assets that may take you a while to get the hang of. Proprivex Token (PPX) is offering its platform as the go-to choice for managing diverse portfolios from a single platform to ease the burden. This crypto portfolio management problem does not apply only to newbies in the industry. Even experienced users have to carry on with other activities or businesses in their daily lives. Unfortunately, this leaves little to no window for you to watch the market 24/7 for volatility, security, and other risks of the cryptocurrency market. Hence, Proprivex Token is built as a trading and portfolio management platform specific to digital assets and cryptocurrencies that vies to help users manage their diverse portfolios from a single platform. It automates the whole trading process and manages your assets, so its users do not have to worry about the many exchanges and wallets connected to the platform. Proprivex is intent on making sure blockchain crypto technology functions smoothly and is easily accessible to everyone. Proprivex Token seeks to encourage trust and bring about better adoption of cryptocurrencies for enthusiasts globally. But unfortunately, some enthusiasts have been deterred from crypto adoption by the failures of self-proclaimed crypto asset experts who say they manage investors' portfolios. This, and how mainstream media still perceives blockchain technology and crypto assets, make it easy for people to discredit the advantages of the industry. However, Proprivex Token is repositioning this perception by building an intuitive ecosystem. The ecosystem is tokenized by PPX, and will enable efficient and secure trading, staking, and management of diverse crypto assets with full-scale security. In addition, investors and users of the platform with large investments can buy into the services of experienced and expert asset managers overseeing their investments. How Does Proprivex Token (PPX) Compare To Solana (SOL) And Polygon (MATIC)? Solana is a blockchain network popular for its high efficiency, speedy transactions and other crypto-related activities on the platform. It was built to increase throughput beyond what other blockchains achieve while keeping costs low. As a result, Solana, tokenized by SOL, is one of the largest crypto platforms in the world. Polygon, tokenized by MATIC, is another popular blockchain network built to give developers blockchain tolls to enhance the speed and reduce the cost and complexities of transactions. Its MATIC tokens are used for its governance and fee payment, and the platform uses a modified proof-of-stake consensus mechanism to run. These platforms have one thing in common, which is decentralization, and in other words, this means you get to be in control of every activity you perform on the platforms. As a newbie or experienced crypto user, this can be quite challenging without proper guidance. Advanced platforms like these tend to deter new users when they need to figure out the space, which sometimes includes loss of assets. However, Proprivex gives you a platform where you can explore all these features without worrying about loss or failure. In addition, PPX holders benefit from the incorporated industry-leading digital asset management tools and hack-proof smart contracts on the platform. With Proprivex Token, users get a transparent exchange platform that yields low cost, manages various portfolios, and gamifies its ecosystem to enable users to earn PPX. What Is Proprivex Token (PPX) Built On? Proprivex is built on the Avalanche network for its lightweight, efficient, and super-fast network. In addition, the network enables Proprivex to remain carbon neutral regardless of transaction volume while charging low and competitive transaction fees. Conclusion Proprivex Token (PPX) lets its users make the best of their crypto portfolios while being less demanding and attracting minimal transaction fees. Purchase PPX today and be part of this scalable ecosystem. Proprivex Token (PPX) Presale: http://prop.proprivex.io/ Website: http://proprivex.io/ Telegram: https://t.me/ProprivexTokenOfficial Twitter: https://twitter.com/ProprivexToken Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice

Working towards their stated goal to build the highest-performing, most reliable, blockchain API platform, Bware Labs, the company behind Blast, is launching the Houston Incentivized Testnet. The purpose of the testnet mainly revolves around verifying all the technical aspects involved in the decentralization of the Blast API Platform, from the proprietary Node Integrity Protocol to the Staking Mechanism. At the same time, it aims at preparing future Node Providers for the mainnet launch while giving them the option to obtain enough funds to join the platform in its production state. In terms of rewards, the total amount reserved for the entire Houston Testnet is 1M BWR tokens, which makes for 1% of the total token supply. The tokens received during the testnet will be sufficient for each participant to be able to run at least one node when the mainnet is live. Bware Labs claims that, thanks to their integrity protocol and incentivization mechanism, the Blast API platform will be able to keep the highest level of performance in the industry even after the decentralization takes place. This means that no change in the quality of the service would be visible to their constantly growing number of adopters and customers, among which we can already enumerate Coingecko, DIA, Connext, Moonwell, Subscan, DappRadar and many others. The first phase of the Houston Testnet (The Launch Phase), will be restricted to the companies’ closest partners from the infrastructure and node-operating segment. The list includes reputable companies with vast experience in running blockchain infrastructure such as: Dokia Capital, Stakin, P2P, Hashquark, Hypersphere and Woodstock. Once this preliminary stage is completed, Bware Labs will welcome independent node runners to onboard the testnet in Phase 2 (The Orbit Phase) and earn rewards, while helping the company achieve its mission of providing quality-driven, decentralized services. The Houston Incentivized Testnet will end with a third phase (The Landing Phase), where the creativity of participants is required in finding improvements, corner cases, or any feedback that will help the platform become more robust and easier to use by both API consumers and Node Providers. All the details for the Houston Testnet, as well as the schedule and missions for those interested in becoming Blast partners as Node Providers, are available on the Houston Testnet landing page https://houston.blastapi.io/houston-testnet. About Bware Labs The mission of Bware Labs is to create an infrastructure and development ecosystem that can help Web3 builders throughout their entire blockchain journey. The company aims to play a decisive role in worldwide blockchain adoption. Proving its commitment to bringing true reliability and quality to Web3, Bware Labs has partnered with some of the greatest names in the industry such as Polygon, Avalanche, Elrond, Moonbeam and Fantom. This will further support blockchain development efforts by providing the highest quality infrastructure services in the crypto space. Bware Labs also supports Blockchain projects from a validator role. Capitalizing on its engineering team’s vast blockchain experience, the company is trusted by more than 15 Blockchain Networks to run validators for their projects. Website: https://bwarelabs.com/ About Blast, the blockchain API platform powered by Bware Labs As the first and primary product developed under the Bware Labs umbrella, Blast is a blockchain API platform that provides easy blockchain access to the most relevant networks in the space. Using Blast, developers are able to get RPC and Websocket access to an ever-growing number of blockchain networks in just a couple of simple steps. Providing unparalleled quality, performance and ease of use for API consumers like dApp developers, exchanges, and other crypto projects, Blast innovates on the provider side as well. It does this by being the first to adopt a reward model for node runners, incentivizing them in order to increase the decentralization of the platform and ultimately improve access to the supported blockchains. Website: https://blastapi.io/ Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

The crypto market is going through a series of bearish phases. In the last few weeks, most cryptocurrencies have fallen hard, while some have been able to withstand the market downfall. However, there are also a few relatively rare projects that have recorded tremendous growth during the market crash. Klaytn (KLAY), Stellar (XLM), and Chronoly.io (CRNO) tokens are examples of different crypto projects. The prices of Klaytn (KLAY) and Stellar (XLM) have been in the red zone for quite some time now, whereas the new project, Chronoly.io (CRNO), has risen extraordinarily during the same phase. Chronoly's CRNO token has increased by over 500% in its pre-sale phase. Let's dwell deeper into these three cryptocurrencies. Klaytn (KLAY) Finds Current Market Situation Harsh Klaytn (KLAY) is a blockchain-based public platform built for the metaverse, gaming, and the creator economy. It is intended to be a launching platform for real-world metaverse solutions. Klaytn network’s token is KLAY. The token is used for all transactions on the platform and all other blockchain applications on the network. However, Klaytn is relatively small and faces a lot of competition. Besides, at this time, most metaverse-related activities are being built on more well-known networks like Enjin or Decentraland, keeping the adoption of the Klaytn network low. Above all, KLAY has been developed for metaverses; it does not have any real-world utility, making it highly sensitive to market speculations. Hence, the current crypto market downfall has made the KLAY price lag behind. Stellar (XLM) Sees Reduction in Investors Stellar (XLM) is an open-sourced network used for transactions in different currencies. The decentralized platform allows trading in all types of currencies like Bitcoin (BTC) and others. It supports the exchange of money between users and countries, and is accessible to all. Even those who do not have access to banking services can use this platform. It considers all currencies equal and does not favor any specific one, although it has its own native token Stellar Lumens (XLM). Yet, Stellar (XLM) has been following the general market sentiments and going downhill for the last few weeks. Its value relies heavily on trade volume without real-world use cases, making Stellar (XLM) susceptible to the macro-economic environment. Even the recent decisions by the Stellar Development Foundation (SDF) to increase the use cases of XLM have not been able to make a significant impact due to an overall bearish environment. The current market downfall has also deterred investors from putting money in projects that have low trade volume and no real-world use. Chronoly.io (CRNO) Becoming More Valuable Day-by-Day Chronoly.io has introduced a new and unique concept in the cryptocurrency market. It is the first-of-its-kind blockchain-based fractional watch marketplace in the world. Chronoly.io lets people make small purchases and gain fractional ownership of high-end luxury watches from brands like Patek Philippe, Richard Mille, Rolex, and others. The way Chronoly’s CRNO works is its USP. The company first buys physical versions of luxury watches and then mints NFTs against them. The watches that Chronoly.io buys are kept in secured vaults across the world. This means all the NFTs minted by Chronoly.io are backed by real-world luxury watches, making the NFTs highly stable and secured against real assets. Thus, crypto traders worldwide have placed Chronoly.io among the market's top newcomers. Its popularity and acceptance can be understood by the fact that Chronoly's CRNO token registered a growth of over 500% in just two months since its launch in May 2022. Its price has increased from $0.01 to $0.06 during its pre-sale phase, and analysts are speculating that the price could increase once the token officially launches on a centralized exchange. For more information about Chronoly.io presale Website: https://chronoly.io/ Telegram: https://t.me/Chronolyio Presale: https://presale.chronoly.io/register Twitter: https://twitter.com/Chronolyio

After selling 887 Bitcoin in July, Argo cut its outstanding balance under the BTC-backed loan to just $6.72 million.

The multimillion-dollar Solana Wallet hack has been traced back to a private key exploit tied to the Slope mobile wallet app. Solana Fingers Slope Wallet For Attack Investigations into the large-scale exploit that targeted the Solana Wallet has revealed that private key details were “inadvertently transferred” to a third party on the Slope Finance network. This resulted in a vulnerability in the Solana network leading to the loss of around $4.5 million worth of SOL and other cryptos from about 8000 Solana wallets. The exploit started on Tuesday night and continued well into Wednesday, inspiring a team of developers and security auditors to launch preliminary investigations. The findings were reported on Twitter, “After an investigation by developers, ecosystem teams, and security auditors, it appears affected addresses were at one point created, imported, or used in Slope mobile wallet applications…This exploit was isolated to one wallet on Solana, and hardware wallets used by Slope remain secure. While the details of exactly how this occurred are still under investigation, but private key information was inadvertently transmitted to an application monitoring service.” According to the team, the Solana protocol and its cryptography were not compromised. Additionally, users are being advised to switch to hardware wallets to keep funds secure, as these have been immune to the hack. Slope Still Investigating The Slope team has acknowledged the inclusion of Slope wallets in the hack and claims to be looking into the matter. The team has released a statement that, however, does not go too much into the depth of the hack and neither does it take responsibility for the attacks. The statement released by Slope reads, “We have some hypotheses as to the nature of the breach, but nothing is yet firm. We feel the community's pain, and we were not immune. Many of our own staff and founders' wallets were drained. We are still actively diagnosing and are committed to publishing a full postmortem, earning back your trust, and making this as right as we can.” The team has also advised users to create a new wallet with a new seed phrase and transfer all their funds. Phantom Wallet Holders Affected As Well Besides Solana and Slope, Phantom has also faced the effects of the hack. For example, several wallet holders who had previously interacted with a Slope wallet had their Phantom wallets completely drained of SOL and other tokens. The Phantom team reported that the exploits were caused by the complications related to importing accounts to and from Slope. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Anti-crypto Senator Elizabeth Warren is currently whipping up support among senatorial colleagues to sign a letter to the OCC asking for banks to have a far tighter regulatory regime around their dealings with crypto companies. Senator Warren’s stance Senator Warren is well-known for her vehement dislike of the cryptocurrency industry. She has often called for more protections for investors, and also for the banking system, which she believes could suffer contagion from a potential crypto collapse. She appears to be determined to oblige the OCC (Office of the Comptroller of the Currency) to go back on its commitments, made during the Trump era, for banks to offer crypto services such as custody for their clients. A letter to the OCC According to a Bloomberg article earlier today on the subject, Warren wants the Federal Reserve and the Federal Deposit Insurance Corp. (FDIC), to supersede the interpretations on banks holding stablecoin reserves, and replace them with a path towards “adequately protect[ing] consumers and the safety and soundness of the banking system.” The letter, of which a final version will be sent to the OCC soon, highlights how the TerraUSD collapse, together with the bankruptcies of several digital asset platforms “may have exposed the banking system to unnecessary risk”. The letter also seeks to underline what it perceives as the OCC’s failure to address these risks: “We are concerned that the OCC has failed to properly address the shortcomings of the preceding interpretive letters and the risks associated with crypto-related banking activities, which have grown more severe in recent months,” The letter closes with some questions, which include asking the OCC to name the regulated banks that are providing crypto-related services, and also an estimation of the amount in dollars that these activities encompass. Opinion That Senator Warren should be interested in protecting investors can only be applauded. However, if this means hobbling them with extremely restrictive regulations, and preventing them from interacting with crypto platforms is another thing entirely. That she should be concerned about keeping the banking system safe and sound though at the expense of cryptocurrencies is also a very debatable question. Obviously, the recent turmoil among certain cryptocurrency platforms does not inspire confidence, but given that this is such a nascent industry, these issues are bound to happen. The cryptocurrency industry has arrived precisely because of the dreadful dangers the legacy financial system is subjecting everyone to. What is happening in crypto markets is as nothing compared to the approaching systemic failure of banks and other financial institutions on a scale that can only be likened to Armageddon. Allowing banks to integrate with crypto platforms is one way that they might be saved. Otherwise, the course they are currently following will only lead to a complete financial breakdown, and the ensuing poverty and chaos that this would bring about. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

reNFT, the innovative platform that enables companies to rapidly integrate NFT rental functionality, this week announced a partnership with Unlockd — a cross-chain NFT-backed lending protocol! Unlockd allows users to take an instant loan against an NFT asset while keeping the utility of the collateral. With the ‘buy-now-pay-later’ technology Unlockd is developing, users no longer have to wait until the NFT is paid for in full and sent to them in order to benefit from its utility: the liquidity will be extracted instantly from the asset, covering the part of the capital that cannot be fronted by the user and thus generating a loan against that same asset. But similar to physical assets, users often do not want to use the benefit themselves, but rather make it available to others for a fee, think of real estate or car rental companies — this is exactly where this partnership comes in! With this partnership reNFT will allow their users to make economic use of their NFTs by using reNFTs groundbreaking rental solution before they even receive full custody of it. Example: Bob wants to buy a Rumble Kong League NFT for 2 ETH but only has 1 ETH, Bob uses Unlockd for additional capital to purchase the NFT. Bob can immediately start renting out the NFT via reNFT to others to generate passive income and make the repayment. Unlockd shares reNFT’s vision of an ecosystem where guilds, investment DAOs, scholars and all agents of the metaverse have access to tools and opportunities that allow them to be more efficient. NFT liquidity is essential to the development of the industry, and Unlockd already works closely with the world’s leading guilds to unlock the full value and liquidity of their assets through NFT-backed loans, also targeting scholars all over the world. Now, these same guilds and gamers will also be able to access additional sustainable growth opportunities on top of Unlockd’s solution with renting strategies provided by reNFT. About Unlockd Unlockd is the decentralized cross-chain protocol that provides democratized NFT liquidity and utility for Art, DeFi, Metaverse, Real World and Gaming. Unlockd provides instant loans and enables seamless cross-chain borrowing and lending, with Unlockd borrowers can compound their wealth with NFT-backed loans while maintaining 100% of ownership perks. Website | Twitter | Discord | Telegram | Blog About reNFT reNFT is a multi-chain NFT rental protocol and platform that can be whitelabel integrated into any project to enable collateral-free in-house renting, lending and scholarship automation! Website | Twitter | Discord | Telegram | Docs Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

New amendments recently signed by the country’s president could bolster the energy grid refit while keeping overall prices relatively moderate.

The 200-week moving average is just one of a series of lines in the sand for Bitcoiners to keep their eye on this week.

A look at the best practices and worst hiding places for what could be the most important and wealthy possession in a home: a seed phrase.

Despite the weak performances in Q2, the network could increase its volume and activity as it keeps rolling out new products and improvements, Messari noted.

The day after demanding Voyager Digital erase its claims that customers’ funds would get government protections, the U.S. Federal Deposit Insurance Corp. issued a broader warning to bankers that they need to keep their crypto partners in line.

Ethereum Classic is a relatively smaller PoW chain compared to Ethereum in terms of usage and hash rate.

The senator wants to know what measures tech giants are taking to keep crypto scams off their app stores.

Almost half of the buyers of Hirst’s “The Currency” collection wanted to keep the NFT version.

Easing tax rules on Japanese cryptocurrency companies should keep most of those players on local soil, two of the leading lobby groups maintained.

The Fed keeps markets on their toes while Bitcoin price action manages to inch higher prior to the Wall Street open.

CFTC chair Rostin Behnam spoke at a webinar about how the agency, even lacking broad authority, is trying to keep up with rapid developments in financial technology.

Despite struggling to keep its head above $22,800 on Sunday, Bitcoin plunged on Monday to as low as $21,400 during the Asian Market session as traders took a risk off-approach ahead of this week’s interest rate decision by the FED.