One of the main features of the Bitcoin blockchain is its transparency. Bitcoin lets anyone see every transaction that has ever been made on its network and check the balance of every address out there. Because of this transparency, we’re able to know who owns the most Bitcoin (BTC) in 2022. It’s important to look at who owns the most BTC, as the cryptocurrency’s supply is limited to 21 million coins. In February, Kim Grauer, director of research at blockchain forensics firm Chainalysis, told Cointelegraph that an estimated 3.7 million BTC have been lost, effectively deflating the cryptocurrency’s circulating supply. …

When cryptocurrencies like Bitcoin (BTC) go through bear phases like the one we currently find ourselves in, the idea of earning passive income from one’s holdings becomes all the more attractive for long-term investors. Related: Decentralized finance: A beginner’s guide to earning passive income with DeFi Different methods such as staking, lending, cloud mining and yield farming have become popular in the past few years and involve rewarding investors with money or tokens for the crypto tokens invested in the mechanism. However, with hard forks or airdrops, users who are active in the crypto ecosystem can forage for tokens or …

DappRadar and omnichain interoperability protocol LayerZero have launched a new token to enable cross-chain staking across multiple blockchains and Ethereum Virtual Machine (EVM)-compatible networks — a move designed to minimize fees and increase access to staking opportunities. The functionality for the newly launched RADAR token is provided through a set of smart contracts, DappRadar said. One of the contracts is known as the controller and the other as a proxy. The two smart contracts work together to enable the new staking mechanism. Requests made to withdraw or claim rewards are sent to the proxy smart contract. It communicates with the …

The recent exploit on Harmony’s Horizon Bridge revealed the inherent flaws with multisignature admin keys that leave projects and their users “one small slipup” from deep trouble. Two crypto project leads expressed their concern that the expansion of the multichain ecosystem could be hampered by the use of multisig contracts due to the dangers they pose with bridges keeping crypto funds safe. Multisig refers to the requirement of multiple individuals to approve a transaction. The multichain ecosystem is the conglomeration of hundreds of blockchains with varying consensus algorithms that often interact through token bridges. Founder of the Moonbeam blockchain Derek …

In a small coastal town just north of Brisbane, Queensland, 20 members of the Coolum Surf Club have been taking part in an initial trial of the Erth Point System, a crypto rewards platform from the Australian company Rewards4Earth. Doug Flockhart, former CEO of Clubs Queensland, the body for community clubs in the state, spoke to Cointelegraph about how his goal is to integrate the system through over 1,000 community clubs across Australia. Flockhart said the top professional rugby league competition, the National Rugby League (NRL), “are very keen” on the idea and for Flockhart, it “confirms the capacity of …

The last 13 years have seen blockchain technology evolve into numerous use cases — finance, data, logistics and security, among others. However, the idea of using blockchain’s immutable capabilities to ID humans got new life when Changpeng “CZ” Zhao visited the island country of Palau to kick off its digital residency program. The blockchain identity management market is estimated to grow by $3.58 billion in the span of five years from 2021 to 2025. Key factors include the rising demand for digitalization and privacy-respecting identity solutions. As a result, a myriad of solutions breached the market serving this need in …

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 now on, new toncoins will only enter circulation via PoS …

The Harmony layer-1 blockchain project team has offered a bounty equal to just 1% of the $100 million in crypto stolen from the Horizon Bridge hack last week. Harmony tweeted on June 26 that the team had committed $1 million for the return of the funds that were stolen from the Horizon Bridge on Thursday. It added, “Harmony will advocate for no criminal charges when funds are returned.” We commit to a $1M bounty for the return of Horizon bridge funds and sharing exploit information. Contact us at [email protected] or ETH address 0xd6ddd996b2d5b7db22306654fd548ba2a58693ac. Harmony will advocate for no criminal charges …

The digital financial environment continues to develop almost every second, which is no surprise to those in the crypto sector. Among such technological advancements, a new project called StrongBlock has popularized the concept of the node as a service (NaaS) on the blockchain. NaaS is an alternative to running entire blockchain nodes on your own; it provides developer infrastructure and tools for setting up and managing blockchain nodes. Connected blockchain nodes relay, transmit and store decentralized blockchain data. But, what is a blockchain node? A node, also known as a Full Node, is a device that stores the blockchain's whole …

The price of THORChain’s token RUNE is up 16% since the project announced the official launch of its mainnet on Wednesday. The team announced the mainnet launch on Wednesday, alongside the rollout of a “Rune in a Million Campaign” on Binance that contains a total of $1 million worth of RUNE rewards for users of the exchange. The announcement has been followed by a 16% bump for RUNE to $2.18 at the time of writing, and the price is up 31.6% over the past seven days. The surge has provided some much-needed relief for RUNE, though the price is still …

ApeCoin (APE), the Ethereum-based token tied to the widely popular and almost definitely probably not 4Chan-related Bored Ape Yacht Club NFT project, saw its market cap drop by 67.2% or $4.3 billion during May and it has continued to slide since. Despite bearish macro factors looming over both crypto and stock markets throughout 2022, May, in particular, was a difficult month for crypto — thanks, Terra. Much like many other assets, ApeCoin was unable to escape the brunt of this downturn, and its market cap declined by $4.3 billion to sit at roughly $2.1 billion by May 31 as the …

The Horizon Bridge to the Harmony layer-1 blockchain has been exploited for $100 million in altcoins which are being swapped for Ether (ETH). The hack may vindicate previously raised community concerns about the robustness of the two of four multisig that reportedly secures the bridge. Starting at about 7:08 am EST until 7:26 am EST, 11 transactions were made from the bridge for various tokens. They have since begun sending tokens to a different wallet to swap for ETH on the Uniswap decentralized exchange (DEX), then sending the ETH back to the original wallet. 1/ The Harmony team has identified …