It’s safe to say that 2020 has been a banner year for the digital-asset space. Bitcoin (BTC) soared past its previous high, and many other prominent cryptocurrencies reached their highest levels since the heyday of 2017 and early 2018. Across the financial services industry, institutional voices are expressing reinvigorated interest in digital assets. The growth and maturation of this space has been impossible to ignore, engendering plenty of optimism among those who build the platforms and systems on which it runs. Unfortunately, not all the headlines from the past year have been positive. Several well-known crypto exchanges and other organizations …
In late March, Ronin, an Ethereum sidechain built for the popular play-to-earn nonfungible token game Axie Infinity, was hacked for over 173,600 Ether (ETH) and 25.5 million USD Coin (USDC) for a combined value of over $600 million. The breach on the Ronin bridge was confirmed by Sky Mavis, the developers behind the popular play-to-earn (P2E) game: There has been a security breach on the Ronin Network.https://t.co/ktAp9w5qpP — Ronin (@Ronin_Network) March 29, 2022 The official report from the company noted that the hackers managed to get access to private keys to validator nodes resulting in the compromise of five validator …
A decentralized finance protocol has launched its mainnet — describing it as a crucial step on the journey to a frictionless financial future. Radix, which describes itself as a platform for smart money, is also launching Instapass with its Olympia mainnet — an optional user and developer service that delivers the world’s first single sign-on solution for building compliant DeFi. The Radix mainnet is being positioned as a generational improvement in the history of decentralized ledger computing — and one that delivers 100 times more executional efficiency than the Ethereum Virtual Machine. This comes hot on the heels of the …
Over the last few weeks, blockchain projects focused on supply chains and logistics have seen tremendous growth as the coronavirus-induced economic gridlock begins to loosen and future concerns related to the global pandemic subside. Three logistics projects that have benefited from the improving economic outlook are OriginTrail, Waltonchain and Wabi. Since early February, each has seen its token price increase by up to 300%. TRAC/USD OriginTrail is a self-described “ecosystem dedicated to making global supply chains work together by enabling a universal, collaborative and trusted data exchange.” The project was established in 2011 with the goal of providing enterprise users …
Attacks on bridge technology in 2022 led to the theft of $2.5 billion from decentralized finance (DeFi) protocols, according to a report by Token Terminal. While this could have been a setback for many projects and, thus, for the crypto space, it seems to be fueling infrastructure and security developments. At the ETH Denver 2023, Web3 protocol Koii Labs and software company Idexo announced a new middleware bridge to advance deployments on-chain with "just a few lines of code," Cointelegraph exclusively learned from the teams. The solution aims not only to improve security and speed up deployments, but also to …