DeCenter – Blockchain and Bitcoin

2021-12-08 12:10:05 Bitmart hacked for $200M following Ethereum, Binance Smart Chain exploit
The hackers made away with a mix of over 20 tokens that includes altcoins such as BNB, Safemoon, BSC-USD and BPay.

Crypto exchange Bitmart lost nearly $200 million in a hot wallet compromise hosted over the Ethereum and Binance Smart Chain blockchains.

The $200 million Bitmart hack was first revealed by Peckshield, a blockchain security and data analytics company that initially identified a transfer of roughly $100 million over the Ethereum blockchain.

The hackers made away with a mix of over 20 tokens that includes altcoins such as Binance Coin (BNB), Safemoon, BSC-USD and BNBBPay (BPay). Sizable amounts of meme coins such as BabyDoge, Floki and Moonshot were also compromised in the hack. Open / Comment

2021-12-08 11:00:49 MSH Token will be listed on LBank Exchange

Listed on CMC, TrustWallet, Pancakeswap and HotBit & Vetted by TechRate, a credible crypto security service provider, MSH will be listed on LBank!

$MSH's objective is to be run fully by its community. Unlike most Cryptocurrencies, MSH associate holders to a variety of concepts such as Participation Rewards, Decentralized Exchanges, Airdrops and many more unannounced bonuses.

With a market cap of +$45 million and more than 7,000 Holders, MSH reached a tremendous milestone by surpassing a $10 Million marketcap and over 1,000 holders in just 3 days of its launch.

You can join $MSH's community to follow the updates and news and discuss the future of the project with other participants and to gather the latest news for the project Join MSH's channel. Open / Comment

2021-12-08 10:55:06 Russia’s largest bank struggles to register its digital asset platform
State-owned bank Sber is trying to launch digital asset tools, but regulators remain skeptical about the industry.

Sber, Russia’s largest bank, is apparently struggling to obtain regulatory approval for its digital asset issuance platform as the company continues delaying registration plans.

Sber CEO Herman Gref announced Tuesday that the bank now expects its digital asset issuance platform to have been registered with the Bank of Russia by the end of 2021, local news agency Prime reported.

“We are in constant contact with the central bank, and we are discussing various issues. We really want to believe that the platform will be registered by the end of this year,” Gref said.

The new comments come almost a year after Sber initially filed an application with the Bank of Russia to launch a blockchain platform for its Sbercoin stablecoin in January 2021. At the time, Sber director of transactions Sergey Popov said that the registration procedure usually takes no longer than 45 days. As such, the bank had b expecting to launch its platform and the stablecoin by spring 2021.

While unable to move forward with the plans by the fall, Sber then said that it was planning to register its digital asset issuance platform in September.

Sber did not respond to Cointelegraph’s requests for comment on the matter.

Sber’s delayed plans hardly come as a surprise, as Russia’s central bank has taken a hard stance on cryptocurrencies like Bitcoin (BTC) and has even barred some major banks from offering crypto investment services. The bank has said that such services do not “meet the interests of investors and bear great risks.”

In the meantime, Bank of Russia governor Elvira Nabiullina believes that tools such as central bank digital currencies should serve as a good option for governments to replace decentralized cryptocurrencies. Open / Comment

2021-12-07 12:10:06 Bitcoin tumbles below $47K wiping out October gains — Bear market begins?

Bitcoin (BTC) has suddenly fallen below $47,000 on Dec. 4, losing nearly 20% in the past 24 hours. This makes this the biggest one-day drop since May 15 when Bitcoin price momentarily came down to nearly $33,000.

The market price of BTC fell down 26.4% from week-long support of $57,206 to go down to $42,268 before recovering back to the $45k mark. According to Coinglass data, the Bitcoin market experienced $1.3 billion in total liquidations in the past hour, with $735 million liquidated in BTC longs on this drop.

As a result, Bitcoin’s bear market cancels out the two-month long bull market since Sept. 29, where BTC soared over 63% to attain an all-time high of $67,602 by Nov. 8. However, numerous Bitcoin analysts including TechDev point out a similar trend with Bitcoin’s price action for every year.

Another reason for Bitcoin’s two-month low bearish streak can also be attributed to mainstream resistance from United States regulators that have invited the CEOs of prominent crypto exchanges including FTX and Binance US for a hearing on crypto-assets.

Despite concerns surrounding volatility and non-compliance with traditional financial practices, Bitcoin continues to rise as a viable asset for jurisdictions with unstable economies. Open / Comment

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2021-12-07 11:55:04 Ethereum Gets Another Upgrade: What You Need to Know About Arrow Glacier

Just a few months ago, Ethereum developers were asking users to update their nodes—the devices that run the network software and (typically) store the immutable ledger of transactions.

They're at it again, this time to delay what's known as the "difficulty bomb"—a periodic task that will become obsolete after Ethereum 2.0 takes full effect and the network transitions to a proof-of-stake consensus model that does away with crypto mining.

Unlike the London hard fork, which changed the Ethereum fee structure and introduced deflationary pressure to the network, the Arrow Glacier upgrade slated for this week is nowhere near as drastic. In fact, it isn't even as adventure-packed as Altair, the October upgrade that prepped the beacon chain—the starting point for Ethereum's switch to proof of stake—for prime time.

Arrow Glacier's sole purpose is to stop a bomb from going off and give developers more time to move the network to Ethereum 2.0. Without it, the current network could become less usable.

That bomb has been ticking since 2015, when developers began creating the Ethereum network. The network's creators hoped to move past Bitcoin's consensus mechanism, proof of work, which incentivizes people to contribute computing power to run and secure the network by giving them newly minted coins.

Proof of work creates an arms race for ever-more computing power that's neither great for the environment nor people's garage clutter, which is why the network has been transitioning to proof of stake. In this design, coin holders can lock up their ETH in the network to secure the blockchain; in exchange, they receive newly minted ETH in proportion with their contribution, even if they don't have the fanciest hardware.

Knowing early on that they wanted to steer Ethereum away from proof of work, developers hardcoded an incentive inside the blockchain to make sure they did so. That code, known as the difficulty bomb, would make it harder for people to mine ETH and slow down the network as long as it remained proof of work.

Though the London hard fork in August delayed detonation until December—just as previous upgrades have—developers have had to come back to the table to delay it again.

There's hope that upgrades like these may soon be unnecessary. Tim Beiko, who coordinates the network's core developers, wrote last week, "Hopefully, this is the last time the difficulty bomb is delayed before Ethereum's transition to proof of stake!" Open / Comment

2021-12-07 11:23:04 OpenSea IPO Hints Prompt Criticism From Crypto Users Expecting a Token

Amid OpenSea’s surge in NFT trading volume over recent months, one question has circulated among its heaviest users: will they eventually be rewarded with a token airdrop?

Now that the company has signaled plans for an initial public offering (IPO), some crypto die-hards fear that an OpenSea token won’t happen—and they’re speaking out about it.

Today, OpenSea announced the hiring of Brian Roberts as its Chief Financial Officer, hiring him away from ride-sharing service Lyft, where he held the same title. Roberts, who helped Lyft go public, told Bloomberg that he’s already planning the NFT marketplace’s IPO.

“When you have a company growing as fast as this one, you’d be foolish not to think about it going public,” he said, adding that he thought it “would be well-received in the public market given its growth.”

He might be right about the broader public reception. Popular cryptocurrency exchange Coinbase went public in April and generated a frenzy of investment and attention, with some hailing it as the most exciting IPO in years. Coinbase (COIN) smashed the NASDAQ’s reference price upon launch and showed that Wall Street was ready for crypto (and vice versa).

Not everyone was thrilled to see a crypto-centric company go the traditional IPO route, however. Coinbase’s first hire, Olaf Carlson-Wee (now CEO of Polychain Capital), told Decrypt in May that he thinks the exchange could have become significantly more valuable by launching and listing its own Ethereum token, instead.

Imagine being the largest and most successful NFT marketplace yet choosing to go for IPO instead of issuing token.

To be clear, OpenSea has not definitively said that it will not issue a token. It could possibly concoct a hybrid model that combines a traditional IPO with some type of community token, for example. However, the IPO chatter has some observers thinking that OpenSea has decided on traditional corporate governance rather than a decentralized, token-driven model. Open / Comment

2021-12-07 02:59:01 Lately, there are a lot of talks about crypto, tokens and even meme-tokens.

We want to tell you about a new crypto meme project – Capucin coin.

It was launched quite recently, a massive marketing campaign has already started and it's likely that you have already heard about this project. So far, it has helped more than 10,000 people with disabilities through charity.

In the nearest plans is to develop and launch its own NFT.

You can learn more about the project here. Open / Comment

2021-12-04 00:23:56 Bitcoin dropped more than 7% in 24 hours, Ethereum deflated by over 8% of its surging price tag today. In all, the global cryptocurrency market cap fell by nearly 7%.

It's not just crypto. After a solid start to the morning, U.S. stock indexes are all trending downward for the day and week. The Nasdaq is off pace by 2.8% today, while the Dow Jones is trending 0.9% lighter.

What's to blame?
Well, there is the threat posed by the Omicron COVID variant, which has made landfall in California. Remember that economic uncertainty greeted COVID's first foray into America back in March 2020, cutting the stock market off at the knees while dunking Bitcoin to just above $4,000.

Each intervention has required a new cure. Lockdowns led to stimulus checks, which led to labor shortages and supply chain issues. As a result, prices for goods and labor are on the rise. Now, there's the growing expectation that the Federal Reserve must raise interest rates to combat inflation. While that doesn't easily explain why inflation hedges like BTC are dropping today, Bitcoin is showing high levels of correlation with the S&P 500 stocks as the investment has become increasingly mainstream. Open / Comment

2021-12-02 12:33:00 Silk Road Founder Ross Ulbricht to Launch NFT Collection on Ethereum

Ross Ulbricht, the founder of the defunct Silk Road marketplace, announced via a Medium post that he is auctioning a line of NFTs detailing various points in his life, from childhood to his time in prison.

Minted on Ethereum, the Ross Ulbricht Genesis Collection will launch Thursday at the 2021 Art Basel event in Miami. The auction will run from December 2-8 on the SuperRare NFT platform, curated by Entoptic. The collection will include ten items from Ulbricht, including artwork, writings, and original animation by digital artist Levitate, including a voice-over by Ulbricht.

"I was 29 years old when I was arrested. Suddenly, sitting in prison, I had time for drawing again, I reconnected with my artistic side, producing illustrations that told the story I was going through."

Having been incarcerated since 2013, Ulbricht hasn't fully participated in the NFT explosion taking over crypto. The Silk Road creator wrote that when someone suggested selling his art as NFTs, which are digital tokens of ownership, he had no idea what they were talking about. But with the help of others, he learned and began developing them.

The FreeRoss.org website, run by Ulbrich's mother Lyn, says the NFT launch will act as a fundraiser for both prisoner support and Ulbricht's freedom efforts. Open / Comment