New year community advice: Check your smart contract approvals
On the back of the worst year for crypto hacks and exploits, the crypto community has given some advice to newbie investors going into 2023 — check your smart contract approvals and revoke access regularly. Reddit user 4cademy posted their advice to the r/CryptoCurrency subreddit on Jan. 1, noting that they had approved a slew of smart […]
Coinbase CEO: Regulate centralized actors but leave DeFi alone
Coinbase CEO Brian Armstrong has pushed for stricter regulations on centralized crypto actors but says decentralized protocols should be allowed to flourish given that open-source code and smart contracts are “the ultimate form of disclosure.” Armstrong shared his views on cryptocurrency regulation in a Dec. 20 Coinbase blog where he proposed how regulators can help […]
Alameda tried to redeem 3,000 wBTC days before bankruptcy: BitGo CEO
Mike Belshe, the CEO of digital asset custodian BitGo has confirmed that Alameda Research attempted to redeem 3,000 Wrapped Bitcoin (wBTC) in the days before FTX’s bankruptcy filing on Nov. 11. During a Dec. 14 Twitter Spaces hosted by decentralized finance (DeFi) researcher Chris Blec, Belshe confirmed the firm knocked back the redemption request because […]
Decentraland launches virtual property renting for LAND owners
The metaverse platform Decentranland announced a new platform feature which allows its users who own virtual LAND to essentially become landlords. Owners can now officially rent out their property to other users on the platform for predefined periods of time. This allows users to earn passive income off of their metaverse assets. Decentraland classifies LAND […]
Animoca Brands secures majority stake in music metaverse gaming platform
Digital entertainment, blockchain, and gamification company Animoca Brands has secured a majority stake in the Los Angeles-based music metaverse gaming platform Pixelynx. Animoca Brands expects its acquisition will expand on the integration between gaming and Web3 technologies and communities, the company announced on Dec. 6. The financing terms of the acquisition were not disclosed. Animoca […]
How smart contracts can improve efficiency in healthcare
Smart contracts are self-executing lines of code that run atop blockchains and are triggered once a set of predetermined conditions are met. They are used to automate the execution of online agreements without the involvement of third parties. Today, they are used across many industries, including the healthcare industry. The healthcare sector stands to benefit […]
How blockchain technology is used in supply chain management?
To trace the activities along the supply chain more efficiently, concerned parties can access price, date, origin, quality, certification, destination and other pertinent information using blockchain. Traceability, as used in the supply chain sector, is the capacity to pinpoint the previous and current locations of inventory and a record of product custody. It involves tracking […]