In the ever-evolving landscape of Web3 and decentralized technologies, non-fungible tokens ( #nfts ) have captured the imagination of creators, collectors, and investors alike. These unique digital assets, often associated with art, music, and virtual real estate, have become a significant force in the crypto space. However, they also come with their share of challenges, including security risks and phishing attacks.
Enter #ERC-404 , an experimental and unofficial Ethereum token standard that aims to address some of these issues. Let’s dive into what ERC-404 is, how it works, and its potential impact on the NFT ecosystem.
What Is ERC-404?
ERC-404 is not your typical NFT standard. It combines elements from two existing standards: #ERC-20 (used for fungible tokens) and #ERC-721 (used for non-fungible tokens). The result is a hybrid token that offers unique features and possibilities.
Shared Ownership and Reduced Phishing Risk
The standout feature of ERC-404 is shared ownership. Unlike traditional NFTs, which are usually associated with a single wallet address, ERC-404 tokens can be owned by multiple wallets simultaneously. Here’s how it works:
Multiple Owners: An ERC-404 token can have several owners, each holding a fraction of the token. This shared ownership model distributes control and reduces the risk of a single point of failure. Even if one wallet is compromised, the NFT remains secure as long as other owners maintain control.Phishing Mitigation: Phishing attacks targeting individual wallets have plagued the NFT space. By allowing multiple wallets to collectively own an NFT, ERC-404 makes it harder for malicious actors to exploit unsuspecting users. Even if one owner falls victim to phishing, the NFT’s integrity remains intact.
Tokenization of Exposure
Another intriguing aspect of ERC-404 is the concept of tokenizing exposure. Imagine you own a fraction of a valuable digital artwork—an NFT representing a famous painting, for instance. With ERC-404, you can tokenize your partial ownership. Here’s how it benefits you:
Liquidity and Trading: Fractional ownership tokens can be traded on decentralized exchanges (DEXs) or specialized platforms. Investors can buy and sell these tokens without needing to acquire the entire NFT. This liquidity unlocks new possibilities for NFT markets.Staking and Collateral: Tokenized exposure allows you to stake your holdings or use them as collateral in DeFi protocols. You retain ownership while leveraging the value of the NFT for other financial activities.
Challenges and Considerations
While ERC-404 introduces exciting possibilities, it’s essential to approach it with caution:
Smart Contract Risks: As an experimental standard, ERC-404 may have undiscovered vulnerabilities. Users should thoroughly review smart contracts and exercise due diligence.Regulatory Uncertainties: The legal and regulatory landscape for NFTs and tokenized assets is still evolving. ERC-404’s novel features may attract scrutiny or require legal clarity.Adoption and Interoperability: Widespread adoption of ERC-404 depends on wallet providers, exchanges, and developers embracing the standard. Interoperability with existing NFT platforms is crucial.
Conclusion
ERC-404 represents a bold step toward reimagining NFT ownership and security. While it’s not a direct antidote to NFT #phishing , its shared ownership model and tokenization features offer intriguing possibilities. As the Web3 ecosystem continues to evolve, keep an eye on ERC-404 and its impact on the future of digital ownership. 🌐🔒

#Write2Earn Miner token crashes 88% due to a smart contract glitch, sparking debate on the risks of experimental ERC-X standard in blockchain innovation.STORY HIGHLIGHTSMiner token's value plunges 87% due to a doubling glitch in smart contracts.ERC-X standard's debut marred by security flaws, sparking industry debate.Miner's recovery efforts include a comprehensive audit and 130 $ETH in liquidity.Adisruptive event occurred in the digital currency environment as Miner, a token that was created under the experimental ERC-X standard, lost 88% of its value in a few hours. This crash happened right after a panic sell-off due to a bug in its smart contract that enabled users to double their tokens by sending the Miner tokens to themselves.According to the most recent reports, the token price of each Miner is $5.67, significantly down from its earlier valuation.MINER/USD price chartMarket Chaos Due to Smart Contract MalfunctionThe chaos of the #miner token was ascribed to a glitch in its smart contract system. The developers found that users could exploit this flaw and in fact, could double their token balances by sending Miner tokens to their wallet. This disclosure elicited a quick reaction from the development team who outlined their intention to work on the problem. 1/ Our analysis of the exploit 👇Based on our analysis the _update function was exploited.The root cause is if you transferred tokens to yourself then your balance would be doubled as the contract used the cached value toBalance.https://t.co/6dXniOIGNU pic.twitter.com/KfyScdwnuF— Miner (@minerercx) February 14, 2024They promised stakeholders that the smart contract would have an exhaustive audit before being re-deployed. As a means to reduce the aftermath, about 130 ETH, almost the same quantity as the token’s saved liquidity has been allocated to #liquidity provider purposes awaiting the token’s redeployment.ERC-X: A Fusion of Innovation and CautionThe inception of ERC-X is a major leap in the development of Ethereum token standards, combining features from #ERC-20 , ERC-721, as well as the revolutionary ERC-404 standards. This hybrid approach seeks to utilize the benefits of both standards, providing a new method of token interaction within the blockchain ecosystem. However, the last episode has thrown into doubt how experimental the new standards remain and the risks they pose, therefore, emphasizing the necessity of rigorous testing and community approval before being implemented.Industry Reaction and Path to RecoveryThe Miner scandal has attracted mixed reactions from the blockchain community, with others seeing it as a hit on the credibility of ERC-X while others hold on to hope of recovery and growth. Security analysts lamented over the underlying high-level loopholes that let the exploit happen, highlighting the massive costs of innovation in the absence of standardized reference implementations.As Miner’s developers work to rectify the glitch and reassure the community, the broader conversation has pivoted to the role of experimental token standards in the blockchain ecosystem. The incident with Miner serves as a cautionary tale, highlighting the balance between innovation and the need for thorough vetting and security measures.#BTC

#Write2Earn While the future course of PIXEL's price remains uncertain, the token stands to benefit from the prevailing market enthusiasm surrounding metaverseThe dynamic world of cryptocurrency has welcomed one token that has recently emerged into the spotlight with an impressive price rally. The Pixels token (#PIXEL ), the native currency of the blockchain-based farming and social game Pixels, has experienced an outstanding price surge since its launch on February 19, 2024. With its market capitalization soaring over $456 million and trading volume exceeding $1.2 billion, PIXEL has swiftly become one of the most talked-about tokens in the crypto sphere. But what exactly is driving this impressive Pixels price rally?Exploring Pixels ($PIXEL )Before delving into the reasons behind the rally, let’s first understand the foundation of PIXEL. The token serves as the native currency within the Pixels ecosystem, a captivating social casual web3 game developed on the #RoninNetwork . Designed as an #ERC-20 token on the Ethereum Blockchain, PIXEL facilitates internal transactions, governance, and participation in various in-game activities. In the Pixels game, players utilize PIXEL coins, the premium currency, to enhance their gaming experience by purchasing, upgrading, and customizing their characters.Pixels offers an immersive world of farming, exploration, and creation, akin to other blockchain-based metaverse projects like Axie Infinity and ImmutableX. With its emphasis on blending blockchain ownership with gaming progression, the gaming platform aims to create a seamless and engaging experience for its growing community of players and investors.Prio to the Pixels token launch, a snapshot was captured of the registered users on the 8th. They were then sorted into various groups depending on their involvement in the Ronin Network ($RONIN ). Subsequently, 20 million of these tokens were distributed to their wallets through an airdrop, taking into account their level of participation.Market Performance of PixelsPixels Price (PIXEL) ChartAs of the latest data on CoinMarketCap, the price of PIXEL stands at $0.5912, marking a remarkable 16.44% increase in the past 24 hours. With a market cap of $455.3 million and a trading volume of 1.49 billion, PIXEL has firmly positioned itself among the top cryptocurrencies. Despite experiencing a slight decline from its all-time high of $0.6872 on launch day, PIXEL’s overall market performance  demonstrates its potential for growth and sustainability in the crypto market, as it holds 137th positionReasons Behind the Rallying of PixelsSeveral factors have contributed to the rapid rise of PIXEL’s price:1. Binance ListingThe listing of PIXEL on Binance, one of the largest cryptocurrency exchanges globally, played a pivotal role in driving up its value. After being listed, Pixels price surged by over 20%, garnering attention from investors and traders alike. This increased the awareness and availability of the token to a wide range of investors and traders. When a project is listed on such prominent platforms, it often indicates confidence in the project and draws in new participants interested in investing in a promising opportunity.2. The Fear of Missing Out (FOMO)The Fear of Missing Out (FOMO) has a notable impact on cryptocurrency price increases. When news broke about PIXEL’s listing on Binance, it probably sparked speculative trading as investors hurried to purchase the token in hopes of future gains. This speculative excitement, driven by the desire to not miss out on potential profits, can lead to rapid price hikes, as observed with Pixels token. Additionally, the initial success and excitement surrounding the listing may have drawn in more speculative interest, further boosting the token’s price movement.3. Increased Trading Volume After being listed on Binance, PIXEL saw a notable increase in liquidity and trading volume. This was due to the introduction of various trading pairs, such as PIXEL/BTC, PIXEL/USDT, PIXEL/BNB, PIXEL/FDUSD, and PIXEL/TRY. As a result, trading and investment became more accessible to a broader range of market participants. The rise in liquidity often leads to more active price movements, which contributed to the rapid increase in the token’s value as demand exceeded supply. The trading volume of the PIXEL token surged to $1.2 billion, making it one of the top ten most traded tokens of the day.Pixels Price : Will Pixels Price Rally Continue?While the future course of PIXEL’s price remains uncertain, the token stands to benefit from the prevailing market enthusiasm surrounding metaverse and gaming tokens in 2024. The launch of spot Bitcoin exchange-traded funds (ETF) in the U.S. and anticipations of interest rate cuts have fueled upside sentiment across the cryptocurrency market.However, it’s crucial to acknowledge the inherent volatility and risks associated with trading cryptocurrencies. As such, predicting long-term scenarios for PIXEL or any other token entails considerable uncertainty. In the short term, PIXEL’s price may undergo a period of consolidation within its current ascending triangle range.ConclusionWhile the Pixels token’s rally signifies its growing prominence in the crypto space, investors should approach it with vigilance and a discerning eye. With its innovative gaming concept and burgeoning community, PIXEL holds promise for the future, but only time will reveal its true potential amidst the ever-evolving landscape of digital assets. As investors eagerly await its prospects, it’s important to exercise caution and conduct thorough research before making investment decisions. #TrendingTopic

Worldcoin: sam altman's new cryptocurrency with ambitions to surpass bitcoin's adoption

Introducing worldcoin: sam altman's vision for a universal cryptocurrency and its implications for bitcoin

Worldcoin and bitcoin: a comparison of ambitions and adoption potential

Worldcoin and bitcoin: evaluating investment options, ten stocks preferred over bitcoin

Sam Altman, the CEO of #OpenAI and the mastermind behind the development of ChatGPT, is embarking on a remarkable venture with the launch of his own cryptocurrency called Worldcoin. Backed by a substantial $100 million investment from renowned venture capitalists, Altman has introduced the World App, a cryptocurrency wallet accessible via smartphones. With ambitious aspirations, Worldcoin aims to achieve widespread ownership, envisioning a future where every individual on the planet possesses this unique digital asset.

Contents:

1-Describe Worldcoin.

2-Worldcoin vs. Bitcoin

3-How is Bitcoin valued?

How would the emergence of this new cryptocurrency impact #bitcoin  (CRYPTO: BTC), which is currently the most widely used digital currency? Despite its more than ten years of existence, Bitcoin has not fully achieved some of its initial objectives, such as replacing traditional fiat currencies or becoming the dominant standard for online payments. Could the rise of a new competitor lead investors to reassess Bitcoin’s value?

Describe Worldcoin.

Worldcoin is an #ERC-20 token built on the Ethereum blockchain (CRYPTO: ETH). In practical terms, this means that Worldcoin will have a similar appearance and trading experience to the cryptocurrencies that investors are already acquainted with. ERC-20 tokens like #ShibaINU and #Uniswap , which are among the largest cryptocurrencies by market capitalization, serve as examples. Therefore, Worldcoin does not introduce any groundbreaking innovations in this realm.

Worldcoin distinguishes itself by aiming to be not just a cryptocurrency, but also an international identity system. With its slogan “the global economy belongs to everyone,” Sam Altman envisions providing Worldcoin tokens to every individual residing on Earth.

And this is where things take an unusual turn. To receive your free Worldcoin crypto token and register for a Worldcoin ID, you are required to undergo an eye scan conducted by Sam Altman himself. Yes, Worldcoin has introduced the Orb, a distinctive iris-scanning device. Once your eyes have been scanned by the Orb, you can proceed further. According to Altman, this step is crucial to verify your authenticity as a human being and is not meant to infringe upon your privacy. He won’t even ask for your name.

But it’s understandable why some YouTubers would find Worldcoin intriguing. The introduction of this cryptocurrency carries a sci-fi dystopian vibe: The creator of the most powerful AI system globally has constructed a digital ID tracking system encompassing every individual on the planet, and now they mandate this digital ID for cryptocurrency investments. One Ethereum programmer has already described Worldcoin as “unrealistic and unsettling.”

Worldcoin vs. Bitcoin

Nevertheless, Worldcoin surpasses Bitcoin in at least two aspects. Firstly, it adopts advanced technology. While Bitcoin still relies on the 2009 proof-of-work blockchain technology, which involves mining and energy-intensive computer-driven mining rigs, Worldcoin utilizes the latest proof-of-stake technology from Ethereum, along with technologies from various Layer 2 scaling solutions for Ethereum. Worldcoin envisions a future with free transactions or “gas-free” transactions, meaning you won’t have to pay any type of transaction fees when transferring your Worldcoin. In simple terms, it aims to offer feeless transactions.

Furthermore, Worldcoin seems to be gaining traction at a much faster pace compared to Bitcoin. As of now, Worldcoin boasts over 1.7 million registered users globally. In contrast, it took Bitcoin around 14 years to reach 1 million distinct wallet addresses, each containing at least one bitcoin. This significant disparity suggests that Worldcoin is experiencing accelerated adoption and attracting a larger user base within a shorter timeframe.

It is worth noting that Sam Altman possesses the ability to infuse Worldcoin with the magic of ChatGPT. In a mere five days, ChatGPT garnered an astounding one million members, which could explain why investors are willing to invest $100 million in this innovative cryptocurrency venture. Altman has demonstrated his proficiency in rapidly scaling projects. The potential for cross-promotion is remarkable! Imagine receiving a friendly prompt to join Worldcoin whenever you utilize ChatGPT. Alternatively, envision Worldcoin becoming the exclusive currency for purchasing a premium ChatGPT subscription. The possibilities are intriguing and highlight the synergies between these innovative platforms.

How is Bitcoin valued?

However, I do have reservations about the ambitious scope of Worldcoin’s global expansion plans. Sam Altman’s goal of reaching 1 billion users within two years seems overly optimistic. Considering that there are approximately 8 billion people worldwide, the idea of putting Worldcoin in the hands of every single individual appears highly impractical, to say the least. Therefore, at this moment, I don’t believe Bitcoin should be overly concerned about the competition posed by Worldcoin.

If Worldcoin gains significant popularity, it would indeed warrant a discussion about the future value of Bitcoin. Many optimistic price predictions for Bitcoin are based on the belief that it will continue to disrupt the global financial system, with some forecasts even reaching as high as $1 million per coin. However, in my view, Worldcoin presents a compelling opportunity as an alternative cryptocurrency, particularly in underdeveloped and developing regions, primarily due to its free transaction feature. This could potentially position Worldcoin as a viable contender to displace Bitcoin in those areas.

I understand your cautious approach of adding Worldcoin to your watchlist as it presents an intriguing concept coming from the creator of ChatGPT. It’s always wise to keep an eye on emerging cryptocurrencies and evaluate their potential. However, your decision to hold onto your Bitcoin is also valid. Bitcoin’s established position as the pioneering cryptocurrency and its widespread adoption make it a reliable choice for many investors. Ultimately, it’s important to assess your investment strategy and make choices that align with your long-term goals and risk tolerance.

Should you immediately put $1,000 into Bitcoin?

You should know this before you consider Bitcoin.

Piyasadaki geri çekilme #DYDX tarafından da kendini gösteriyor. DYDX, iki günde %20'nin üzerinde değer kaybetti. Yine de projenin güncel fiyatı 14 gün önceki fiyatından %60 daha değerli. Yaşanabilecek geri çekilmelerin bir kısmını fırsat olarak değerlendirmek için bekleyeceğim destek seviyeleri sırasıyla:
3,219 USDT2,776 USDT2,248 USDT
seviyeleri olacaktır. Eğer destek bölgelerime gelirse parçalı alım yapabilirim. Yukarıda ise karşılaşacağı direnç seviyeleri sırasıyla:
4,304 USDT5,172 USDT
seviyeleridir. Aşağıdaki grafikte seviyeleri daha net bir şekilde görüntüleyebilirsiniz.

Dydx (DYDX) Nedir?
dYdX, #Ethereum blok zinciri üzerinde çalışan bir merkeziyetsiz borsa (DEX) ve merkezi olmayan finans (DeFi) protokolüdür. 2017 yılında Antonio Juliano tarafından kurulan #dYdX , spot, vadeli işlemler, marjin ve opsiyon ticareti gibi çeşitli finansal araçlar sunar.
dYdX, StarkEx adlı bir katman 2 ölçeklendirme çözümü kullanır. StarkEx, işlemleri Ethereum ana zincirinden çıkararak ve bunları bir yardımcı zincire aktararak ölçeklenebilirliği iyileştirmeyi amaçlayan bir teknolojidir.
dYdX, #ERC-20 token'ı olan DYDX'e sahiptir. DYDX, dYdX platformunda çeşitli amaçlar için kullanılabilir:
Yönetim: DYDX sahipleri, dYdX platformunun yönetimine katılabilirler.Staking: DYDX sahipleri, DYDX'lerini stake ederek ödül kazanabilirler.Ödeme: DYDX, dYdX platformunda işlem ücretleri için ödeme aracı olarak kullanılabilir.
dYdX, merkezi olmayan bir borsa olarak, kullanıcıların kendi verilerini ve varlıklarını kontrol etmelerini sağlar. Ayrıca, StarkEx teknolojisi sayesinde hızlı ve düşük maliyetli işlemler sunar.
dYdX'in başlıca özellikleri şunlardır:
Merkezi olmayan borsa: dYdX, merkezi olmayan bir borsadır. Bu, kullanıcıların kendi verilerini ve varlıklarını kontrol etmelerini sağlar.Katman 2 ölçeklendirme: dYdX, StarkEx adlı bir katman 2 ölçeklendirme çözümü kullanır. Bu, dYdX'in hızlı ve düşük maliyetli işlemler sunmasını sağlar.Çeşitli finansal araçlar: dYdX, spot, vadeli işlemler, marjin ve opsiyon ticareti gibi çeşitli finansal araçlar sunar.
dYdX, henüz gelişmekte olan bir platformdur. Ancak, potansiyeli ile dikkat çekmektedir. dYdX, gelecekte daha fazla popülerlik kazanması ve çeşitli amaçlar için kullanılması beklenmektedir.
dYdX'in yatırım açısından riskleri ve getirileri de dikkate alınmalıdır. dYdX, henüz gelişmekte olan bir platform olduğu için, fiyatı oldukça değişken olabilir. Bu nedenle, dYdX'e yatırım yapmadan önce riskleri dikkatlice değerlendirmek önemlidir.
dYdX'in başlıca faydaları şunlardır:
Merkezi olmayan kontrol: dYdX, merkezi olmayan bir borsa olarak, kullanıcıların kendi verilerini ve varlıklarını kontrol etmelerini sağlar. Bu, kullanıcıların verilerinin ve varlıklarının güvenliğini artırır.Hızlı ve düşük maliyetli işlemler: dYdX, StarkEx teknolojisi sayesinde hızlı ve düşük maliyetli işlemler sunar. Bu, kullanıcıların daha verimli ticaret yapmalarını sağlar.Çeşitli finansal araçlar: dYdX, spot, vadeli işlemler, marjin ve opsiyon ticareti gibi çeşitli finansal araçlar sunar. Bu, kullanıcıların çeşitli yatırım stratejilerini uygulamalarını sağlar.
$DYDX $ETH

PEPE Token Holder Count Continues to Rise Despite Falling Prices

Despite experiencing a significant decline of 78% from its May 2023 peak, the PEPE token has seen a notable increase in the number of token holders. As of June 19, there are now 119,229 unique addresses holding the token, according to Etherscan data. This rise in token holders comes amidst the falling prices of the meme-based token, which has faced volatility in the #cryptocurrency market.

PEPE: The Meme Token with Rising Interest

PEPE is a meme token inspired by the popular #pepe the Frog meme, created by Matt Furie in 2005. Since its launch in late April 2023, the token gained significant recognition as a meme coin and witnessed rapid price growth. It quickly climbed the market cap rankings and secured a position within the top 100 cryptocurrencies.

Current Market Position and Fragile Prices

As of June 19, PEPE currently holds the 89th position in terms of market capitalization, with a value of $364,936,703 according to CoinMarketCap. However, the token has experienced a significant decline of 78% from its peak price in May 2023. The market for PEPE remains volatile and prices are susceptible to fluctuations.

Token Holder Count as a Measure of Interest and Adoption

Despite the falling prices, the number of PEPE token holders continues to rise. In the cryptocurrency space, the token holder count is often considered an indicator of interest and adoption. A higher token holder count suggests strong community support, which can be influential in determining the success of a project. However, in the case of PEPE, token holders are primarily speculative, as the coin has no utility and is deflationary.

PEPE's Lack of Utility and Speculative Nature

PEPE's homepage explicitly states that the token has no intrinsic value or expectation of financial return. It lacks a formal team or roadmap and is designed purely for entertainment purposes. As an #ERC-20 token on the #Ethereum blockchain, PEPE can be purchased on various platforms, including Binance, KuCoin, Uniswap, and decentralized exchanges.

Binance Delisting PEPE from Flexible Loan Program

In response to increasing regulatory scrutiny, Binance, a prominent cryptocurrency exchange, announced plans to delist PEPE as a borrowable asset from its Flexible Loan program. The delisting will be effective from June 21 and will involve the cancellation of any open PEPE loan holdings. Binance urges users to settle any outstanding debts related to PEPE and warns of a 2% charge for accounts facing liquidation.

#memecoins $BTC $ETH

$BNB

Crypto Twitter users issued warnings on June 2 after the Twitter account of OpenAI's Chief Technology Officer, Mira Murati, appeared to have been hacked. The account promoted a cryptocurrency airdrop scam through a phishing link. The tweet, which was live for about an hour, received significant engagement before it was deleted. The scam utilized a sophisticated website that closely mimicked the design of a legitimate project called #ChainGPT . Security researchers revealed that the site tricked visitors into signing requests, allowing the attacker to transfer NFTs and #ERC-20 tokens from victims' wallets. Murati and #OpenAI  have not yet commented on the breach.