Solana Founder Unveils Big Blockchain Update

Solana Founder Unveils Big Blockchain Update

Anatoly Yakovenko urges validators to update nodes despite negativity around SOL. Co-founder of Solana Labs and the person who created the 1.13.5 is Anatoly Yakovenko. Yakovenko claims that the upgrade should resolve any UDP-based protocol overload-related Solana network disruptions. This issue has previously resulted in lengthy shutdowns of the Solana network, which is currently in … Read more

Vitalik Buterin’s proposals for a “secure CEX” are being worked on by Binance CEO CZ

Proof of reserve

Custodial and noncustodial exchanges were mentioned as short-term possibilities by Buterin, however multisig and social recovery wallets are required for long-term solutions. The demise of a number of significant crypto ecosystems in 2022 highlighted the urgent need to overhaul how crypto exchanges function. To assure the stability of cryptocurrency exchanges, Ethereum co-founder Vitalik Buterin believes … Read more

If this unfolds, Russia may legalize cryptocurrency mining by January 1, 2023

Russia may legalize cryptocurrency mining

After the government’s top architect of cryptocurrency law announced the launch of a bill that might take effect on January 1, 2023, Russia may finally legalize cryptocurrency mining. Anatoly Aksakov, the chair of the State Duma’s Committee on the Financial Markets, told RIA Novosti that the bill would be read in the legislature the following … Read more

Using its new identity system, Polygon hopes to disrupt the market with decentralized credit scores

Polygon hopes to disrupt the market with decentralized credit scores

However, experts are worried about the possibility of fraud and the absence of effective security for the biometric data that has been gathered. Decentralized credit scores: In the decentralized web, figuring out a user’s credit score isn’t always simple. That’s because a fundamental premise of the cryptocurrency sector is anonymity. In order to determine creditworthiness, … Read more

Cristiano Ronaldo’s NFT collection will be released by Binance before the World Cup

Cristiano Ronaldo's NFT collection will be released by Binance

How much would you be willing to spend on a Cristiano Ronaldo NFT statue that was animated and based on a famous event in his life? Binance hopes to charge thousands of dollars for the rarest. The largest cryptocurrency exchange in the world is once again making news, but this time it’s not for considering … Read more

Vitalik Buterin and CZ Binance Design a New Proof of Reserve Mechanism, Over $6 Billion Leaves Centralized Exchanges

Vitalik Buterin and CZ Binance Design a New Proof of Reserve Mechanism

Following the collapse of FTX, the CEO of Binance, Changpeng Zhao, and the co-founder of Ethereum, Vitalik Buterin, may be developing a proof of reserve algorithm for centralized cryptocurrency exchanges (CEX). The WuBlockchain team reported the development and referenced a previous AMA session as their source.  After the FTX Collapse, users seek proof of reserves … Read more

While Crypto.com Sends $400 Million Worth of Ethereum to the Wrong Address, Binance CEO Warns Users to Avoid It

While Crypto.com Sends $400 Million Worth of Ethereum to the Wrong Address, Binance CEO Warns Users to Avoid It

Exchanging cryptocurrencies In late October, 320,000 ETH were unintentionally transmitted by Crypto.com to a wallet address connected to Gate.io. Although the company has now recovered the funds, Changpeng Zhao, the CEO of Binance, recommended customers to stay away from it. Many in the cryptocurrency industry have expressed concern about the dependability of centralized players in … Read more

As “More Bodies to Surface,” the outlook for bitcoin and ether prices is bleak

The outlook for bitcoin and ether prices is bleak

Bitcoin and ether prices are expected to experience more volatility over the next nine months as the industry picks up the pieces after the shocking failure of FTX. As of 9 am ET, bitcoin and ether were each trading at $16,800 and $1,260, respectively, down approximately 20% over the previous week and 65% year to … Read more

SBF resigns as FTX, FTX US, and Alameda file for Chapter 11 bankruptcy in the US

FTX file for Chapter 11 bankruptcy

Sam Bankman-Fried, the former CEO of FTX, has resigned from his post but will  “remain to assist in an orderly transition” until John Ray takes over. In less than a week, the cryptocurrency exchange FTX has transitioned from suggesting a purchase by Binance to address its liquidity difficulties to moving through with filing for Chapter … Read more