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šØ#SOLANA FIXES CRITICAL #BUG , #ETHEREUM CALLS OUT '#CENTRALIZATION '
š¹Bug Fix: Solana patched a severe vulnerability in April that could've enabled unlimited token minting.
š¹Delayed Disclosure: Publicly revealed on May 3 to prevent exploitation.
š¹Ethereum Reaction: $ETH community criticized Solana for relying on a single validator client, calling it a ācentralized risk.ā
š¹Client Comparison: Solana has 2 validator clients; Ethereum has 4 live clients ensuring better decentralization and safety.
š¹Market Impact: SOL down ~10% from $157 to $143, with neutral sentiment. A drop below $132 could turn bearish.
$ETH
$SOL
š¹Bug Fix: Solana patched a severe vulnerability in April that could've enabled unlimited token minting.
š¹Delayed Disclosure: Publicly revealed on May 3 to prevent exploitation.
š¹Ethereum Reaction: $ETH community criticized Solana for relying on a single validator client, calling it a ācentralized risk.ā
š¹Client Comparison: Solana has 2 validator clients; Ethereum has 4 live clients ensuring better decentralization and safety.
š¹Market Impact: SOL down ~10% from $157 to $143, with neutral sentiment. A drop below $132 could turn bearish.
$ETH
$SOL
šØSOLANA #FIXES SERIOUS SECURITY FLAW: #UNLIMITED TOKEN MINTING & ASSET THEFT AVERTED
š¹Solana resolves a critical vulnerability allowing unlimited token minting and potential asset theft.
š¹Bug discovered on April 16, with a fix rolled out two days later after validator network update.
š¹Issue was coordinated to ensure safety for users and assets.
- Cointelegraph$SOL
š¹Solana resolves a critical vulnerability allowing unlimited token minting and potential asset theft.
š¹Bug discovered on April 16, with a fix rolled out two days later after validator network update.
š¹Issue was coordinated to ensure safety for users and assets.
- Cointelegraph$SOL
š Proposal to Address Violation of #TerraLunaClassic Rule
A Terra Luna Classic community member has submitted a proposal for discussion in a commonwealth forum alleging that JESUSisLORD 2 (JIL2) validator is violating the #Network rule. He claimed that the validator has created a secondary validator under the same entity to circumvent the rule, violating DynComm rule.
#LUNCā community members agree this behavior sets a harmful precedent, while some argue that the rule regarding second validator doesnāt explicitly exist. Instead of immediate punitive actions, the proposal aims to give a formal warning to the validator, without imposing immediate consequences.
Terra Luna Classic community implemented the dynamic commission to promote fairness and prevent #centralization . This rule dynamically adjusts the commission rate based on a validatorās voting power, allowing distribution among other validators.
Happy Catty Crypto, another $LUNC validator with high voting power, noted that the chain is subjected to a significant amount of abuse. He revealed that a community member Rexyz operates three nodes, one for each division of his project. Other members also agree with cleaning the chain to maintain ethical standards.
#DOGSONBINANCE
A Terra Luna Classic community member has submitted a proposal for discussion in a commonwealth forum alleging that JESUSisLORD 2 (JIL2) validator is violating the #Network rule. He claimed that the validator has created a secondary validator under the same entity to circumvent the rule, violating DynComm rule.
#LUNCā community members agree this behavior sets a harmful precedent, while some argue that the rule regarding second validator doesnāt explicitly exist. Instead of immediate punitive actions, the proposal aims to give a formal warning to the validator, without imposing immediate consequences.
Terra Luna Classic community implemented the dynamic commission to promote fairness and prevent #centralization . This rule dynamically adjusts the commission rate based on a validatorās voting power, allowing distribution among other validators.
Happy Catty Crypto, another $LUNC validator with high voting power, noted that the chain is subjected to a significant amount of abuse. He revealed that a community member Rexyz operates three nodes, one for each division of his project. Other members also agree with cleaning the chain to maintain ethical standards.
#DOGSONBINANCE
š„ DECENTRALIZATION IS IMPORTANT! š„
ā ļø Centralization x Power = Danger
The most powerful things in society should be decentralized.
Money, mathematics, language, religion, intelligence, culture, emotions, governance, etc.
Yet, humans have an affinity toward centralization... perhaps this instinct evolved when we lived in tribes a few dozen people, at which scale a central leader may be perfectly reasonable.
Resist the temptation to centralize big important things at global scale.
š» The recent worldwide Microsoft outage which even paralyzed entire airlines is a good example I think.....
I think even of more dystopian cases in my analytical and creative foreseeing mind.
Decentralization is an essential goal because its the only chance for true freedom of ownership in the digital realm of money, identity and future life.
Thats why my consumer app Bonuz been optimized to exactly fulfill this essential target within 35seconds to bring every human on earth onchain.
Doesnt every human deserves the right for freedom, ownership and to simply be able to participate? Of course. Magic Internet Money can be earned in unlimited ways in the digital realm which scales interplanetary.
We aim that with the innovation we deliver to inspire the use of our tech/tools with the ultimate goal to impact lifes of millions of humans positively with better purposes / usecases for them the be involved in the economy of the digital world.
This shall happen in the first 2 years of the Era of Bonuz. Frenz, just take a screenshot and mark my words.
Surprise, surprise. So exciting times ahead āØ
Whats your stand on decentralization, self custody and the greater vision of Bonuz?
Peace out!
Matthias Mende
#Microsoft t #decentralization #centralization #onchain #cryptonews
$BTC l$ETH $PEPE
ā ļø Centralization x Power = Danger
The most powerful things in society should be decentralized.
Money, mathematics, language, religion, intelligence, culture, emotions, governance, etc.
Yet, humans have an affinity toward centralization... perhaps this instinct evolved when we lived in tribes a few dozen people, at which scale a central leader may be perfectly reasonable.
Resist the temptation to centralize big important things at global scale.
š» The recent worldwide Microsoft outage which even paralyzed entire airlines is a good example I think.....
I think even of more dystopian cases in my analytical and creative foreseeing mind.
Decentralization is an essential goal because its the only chance for true freedom of ownership in the digital realm of money, identity and future life.
Thats why my consumer app Bonuz been optimized to exactly fulfill this essential target within 35seconds to bring every human on earth onchain.
Doesnt every human deserves the right for freedom, ownership and to simply be able to participate? Of course. Magic Internet Money can be earned in unlimited ways in the digital realm which scales interplanetary.
We aim that with the innovation we deliver to inspire the use of our tech/tools with the ultimate goal to impact lifes of millions of humans positively with better purposes / usecases for them the be involved in the economy of the digital world.
This shall happen in the first 2 years of the Era of Bonuz. Frenz, just take a screenshot and mark my words.
Surprise, surprise. So exciting times ahead āØ
Whats your stand on decentralization, self custody and the greater vision of Bonuz?
Peace out!
Matthias Mende
#Microsoft t #decentralization #centralization #onchain #cryptonews
$BTC l$ETH $PEPE
How will #Allins revolutionize the #Inscription market on @BNBCHAIN and other chains?š
Allins is a multi-chain #AMM designed to revolutionize how we trade #inscriptions.Starting with #BNBChain, we're on a mission to create a seamless swapping experience for all inscriptions across various blockchains, including both #EVM and non-EVM blockchains like @Bitcoin.š§µ1/ Currently, many blockchains, including @BNBChain, suffer from:š#protocol #centralization šlack of cross-platform #compatibilityš#liquidity limitationsThese issues hamper the flexibility and efficiency of #Inscription #trading2/ #Allins is here to address these challengesšÆ and redefine the way inscriptions are traded.We are collaborating with exceptional partners and making joint efforts to develop innovative solutions.Our 1st step is to enable cross-chain and #AMM #swap trading for existing protocol assets, including #BRC20 and #BSC20, to inject new #liquidity and bring more possibilities to the #inscription market.3/ During this process, we've run into protocols that are not open-source. So we are actively communicating to secure their supportš¤ and calling protocol creators and platforms to join forces towards a unified goal.Our commitmentšŖ to fostering a vibrant #inscription market includes extending FREE services to outstanding communities and projects, aiding their growth and success.š4/ šLooking ahead, we are dedicated to building a brand-new #multichain #inscription protocol.This innovative protocol will enable seamless multi-chain deployment, minting, and trading, empowering inscriptions to thrive across various chains.By embracing #interoperability and open collaboration, we aim to create a dynamic ecosystem that benefits all participants.ā„ļø5/ At #Allins, we believe that #inscription #trading should be accessible, flexible, and liquid across chains.We are energizedš¤© by what lies ahead and want to invite you to join us on this transformative journey.Together, let's reshape the #inscription market and unlock its full potential.š„
Is the future of finance decentralized or centralized? Let's discuss! #CryptoNewss #Moonbixgame #centralization
Central Bank Digital Currencies (CBDCs).
Central banks around the world are exploring the concept of issuing digital versions of their respective fiat currencies, which could potentially transform the global financial system by combining the benefits of traditional fiat currencies with the efficiency and transparency of digital assets. Here, I will provide a deeper understanding of CBDCs, their objectives, and potential implications.
1. Understanding CBDCs: Central Bank Digital Currencies are digital forms of a country's fiat currency, issued and regulated by its central bank. They exist in a digital format and can be stored and transferred electronically, similar to cryptocurrencies. However, unlike cryptocurrencies, CBDCs are backed by a central bank and are considered legal tender.
2. Potential Implications of CBDCs:
a. Privacy Concerns: As CBDCs are digital and traceable, there are concerns about the privacy of users, as central banks could potentially monitor transactions more closely.
b. Financial Stability: The introduction of CBDCs could lead to a shift away from commercial banks, potentially affecting their profitability and stability.
c. Technological Readiness: Implementing CBDCs requires significant technological infrastructure and security measures, which may pose challenges for some countries.
d. Global Impact: The adoption of CBDCs by major economies could influence the global financial landscape, possibly affecting the role of traditional currencies and the dominance of the U.S. dollar.
In summary, Central Bank Digital Currencies are a new development in the crypto space, with central banks exploring their potential to improve efficiency, financial inclusion, and monetary policy control. However, there are concerns related to privacy, financial stability, and technological readiness, which need to be addressed as the adoption of CBDCs progresses.
#Write2Earn #TrendingTopic #centralization
Central banks around the world are exploring the concept of issuing digital versions of their respective fiat currencies, which could potentially transform the global financial system by combining the benefits of traditional fiat currencies with the efficiency and transparency of digital assets. Here, I will provide a deeper understanding of CBDCs, their objectives, and potential implications.
1. Understanding CBDCs: Central Bank Digital Currencies are digital forms of a country's fiat currency, issued and regulated by its central bank. They exist in a digital format and can be stored and transferred electronically, similar to cryptocurrencies. However, unlike cryptocurrencies, CBDCs are backed by a central bank and are considered legal tender.
2. Potential Implications of CBDCs:
a. Privacy Concerns: As CBDCs are digital and traceable, there are concerns about the privacy of users, as central banks could potentially monitor transactions more closely.
b. Financial Stability: The introduction of CBDCs could lead to a shift away from commercial banks, potentially affecting their profitability and stability.
c. Technological Readiness: Implementing CBDCs requires significant technological infrastructure and security measures, which may pose challenges for some countries.
d. Global Impact: The adoption of CBDCs by major economies could influence the global financial landscape, possibly affecting the role of traditional currencies and the dominance of the U.S. dollar.
In summary, Central Bank Digital Currencies are a new development in the crypto space, with central banks exploring their potential to improve efficiency, financial inclusion, and monetary policy control. However, there are concerns related to privacy, financial stability, and technological readiness, which need to be addressed as the adoption of CBDCs progresses.
#Write2Earn #TrendingTopic #centralization
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