San Francisco-based blockchain firm TokenSoft has rolled out a beta version of its wallet for digital assets and digital securities, according to a press release published on Jan. 29. The new product called Knox Wallet provides cold storage and a self-custody platform for managing multiple assets, including both cryptocurrencies such as Bitcoin (ETH) and Ethereum (ETH), as well as tokenized assets such as real estate, equity, or debt. The wallet is now undergoing a testing phase, while the general availability launch is set for the first quarter of 2019. CEO of TokenSoft Mason Borda said that the secure storage of …
Major South Korean cryptocurrency exchange Bithumb has reportedly signed a deal with an American fintech firm in an effort to open a securities token exchange in the U.S., South Korean Yonhap News agency reported Nov. 1. Citing individuals familiar with the matter, Yonhap reports that Bithumb signed an agreement with American crowdfunding platform SeriesOne. A Bithumb official purportedly told the news agency: "SeriesOne actively sought to strike a deal with Bithumb after assessing it as the most suitable partner. Bithumb will ramp up efforts to develop into a global financial firm as the blockchain-based asset tokenization is expected to spread …
What is a crypto honeypot and why is it used? Smart contracts programs across a decentralized network of nodes can be executed on modern blockchains like Ethereum. Smart contracts are becoming more popular and valuable, making them a more appealing target for attackers. Several smart contracts have been targeted by hackers in recent years. However, a new trend appears to be gaining traction; namely, attackers are no longer looking for susceptible contracts but are adopting a more proactive strategy. Instead, they aim to trick their victims into falling into traps by sending out contracts that appear to be vulnerable but …
The Empire State made two appearances on the regulatory stage last week, and neither was entirely reassuring. On April 25, bill S8839 was proposed in the New York State (NYS) Senate that would criminalize “rug pulls” and other crypto frauds, while two days later, the state’s Assembly passed a ban on non-green Bitcoin (BTC) mining. The first event was met with some ire from industry representatives, while the second drew negative reviews, too. However, this may have been more of a reflex response given that the “ban” was temporary and principally aimed at energy providers. The fraud bill, sponsored by …
Decentralized finance (DeFi) protocols have diversified investment opportunities in the crypto industry by facilitating novel and innovative passive income generation schemes. Delving a bit into how they work, DeFi systems are based on blockchain technology and run on programmable chains such as the BNB Chain and the Ethereum Network. The chains use decentralized peer-to-peer (P2P) finance architectures to cut out the middleman and enable lending, borrowing and liquidity provision. This leads to higher interest rates compared to those provided by regulated financial institutions such as banks. For perspective, many regulated banks provide interest rates of less than one percent per …