Advances in Web3 technology have revolutionized the digital ecosystem, but 2024 has brought a significant wake-up call: security threats are increasing at an alarming rate. According to a recent report from Cyvers, financial losses from attacks on Web3 networks exceeded $2.3 billion in just 165 incidents. This represents a 40% increase from 2023, highlighting the growing vulnerability of this growing sector.
The Current Threat Landscape

Binance Alpha has brought five exciting new coins to life! 🌟 Let’s get to know these promising cryptocurrencies that are gaining prominence in the Web3 ecosystem:
1. Koma INU ($KOMA) 🐕 - A dog-themed coin on the BNB Chain, which has already seen a price increase from $0.1 to $0.13! 📈
2. Cheems ($CHEEMS) 🐕 - Referring to the famous Shiba Inu, Cheems also saw a significant increase in market value! 📊
3. $APX (APX) 📈 - A decentralized exchange for cryptocurrency derivatives on the BNB Chain, which also saw a price surge! 📊

Understanding Key ConceptsHere are some fundamental concepts to enhance your crypto knowledge:Blockchain Basics:Understand the foundational technology behind cryptocurrencies. Blockchain is a decentralized ledger that ensures transparency and security in transactions.Cryptocurrency Types:Explore various cryptocurrencies beyond Bitcoin (BTC), such as Ethereum (ETH), Binance (BNB), Ripple (XRP), Litecoin (LTC) and so on. Each has unique features and purposes.Wallet Security:Learn about the importance of secure wallets to store and manage your cryptocurrencies. Hardware wallets provide an extra layer of protection.Binance App has been the top and most trusted crypto exchange platform. It’s secured and trusted.Market Trends:Stay updated on market trends and fluctuations. Cryptocurrency prices are influenced by various factors, including market demand, News, regulatory developments and so on.Decentralized Finance (DeFi):Delve into the world of decentralized finance, where traditional financial services are provided using blockchain technology. Explore decentralized exchanges, lending platforms, and more.Initial Coin Offerings (ICOs) and Token Sales:Understand the concept of ICOs and token sales, which are fundraising methods for new crypto projects. Be aware of the associated risks and potential rewards.Smart Contracts:Explore how smart contracts, self-executing contracts with coded terms, are revolutionizing various industries by automating and ensuring trust in transactions.Regulatory Landscape:Stay informed about crypto regulations in your region. Governments worldwide are working on establishing frameworks to govern the use of cryptocurrencies.NFTs (Non-Fungible Tokens):Dive into the exciting world of NFTs, unique digital assets that represent ownership of specific items, art, or content on the blockchain.Crypto Community Engagement:Join online forums, social media groups, and attend local meetups to engage with the crypto community. Share insights, ask questions, and learn from others' experiences.Remember, the crypto space is dynamic, so continuous learning is essential. Whether you're a seasoned investor or a curious newcomer, staying informed will empower you to navigate the crypto frontier with confidence. #Cryptoeducation🔥 #blockchain​ #NFP #bnb #BTC

1. Blockchain inscriptions causing significant congestion on various blockchains such as Avalanche, Arbitrum, Cronos, zkSync, and Celestia.2. Despite the congestion, inscriptions are gaining popularity, evidenced by the record-high gas fees of $8.3 million on December 16th.3. Sandeep Nailwal, founder of Polygon, asserts that Polygon is effectively managing the inscription demand, boasting the highest number of inscriptions at 161 million.4. Solana appears vulnerable due to past outages and a recent surge in fees, raising concerns about its stability.5. While Polygon bears the brunt of the current situation, uncertainties persist regarding Solana'sstability.Blockchain inscriptions have ignited significant controversy within the blockchain space this year. Originating from Bitcoin, this technology has swiftly proliferated across multiple blockchains, triggering a frenzied pursuit of these "permanent NFTs."However, notwithstanding their controversial nature, these novel NFTs are congesting blockchains, leading to numerous instances of system crashes. Several prominent blockchains, including Avalanche, Arbitrum, Cronos, zkSync, and most recently, Celestia, have experienced disruptions.The Celestia blockchain recently underwent a crash, adding to the list of incidents. Of these disruptions, Arbitrum's Ethereum L2 solution encountered a particularly noteworthy crash on December 15, lasting over an hour.Consequently, mempools are swelling, transact. fees are surging, and blockchains are faltering, all attributed to the escalating popularity Data from Dune Analytics reveals a staggering $8.3 million spent on gas fees for blockchain inscriptions on December 16, marking a historic peak since their inception. The accompanying chart depicts a steady surge in both the prevalence and utilization of blockchain inscriptions.Meanwhile, Sandeep Nailwal, founder of Polygon, speculates a potential migration of inscription creators to Polygon due to its cost-efficient transactions and minimal fees. Polygon currently boasts the highest inscription count, nearing 161 million, surpassing BNB, the second-ranked chain in this domain. Remarkably, Nailwal notes that gas fees on Polygon remain below 10 cents.Contrarily, Solana has a checkered history of network outages, as reported by Solana's official status page, registering numerous instances of partial or complete downtime, particularly in 2022.Flipside data further emphasizes the soaring inscription count on Solana, reaching approximately 287 thousand, contributing to a cumulative total nearing a million inscriptions. Simultaneously, network fees on Solana have been steadily ascending since October, signifyingDespite the tumultuous landscape, Solana and Polygon remain relatively resilient, having avoided major outages due to ordinals. However, while Polygon appears to weather the storm relatively well, concerns persist regarding Solana's stability.Disclaimer: Osmy CryptoZ aims to provide accurate and current information but disclaims responsibility for any omissions or inaccuracies. Cryptocurrencies are highly volatile financial assets; hence, conduct thorough research and exercise independent judgment in financial decisions. #BlockchainNews #blockchain​ #Solana #BinanceTournament #VoiceOfCrypto