Kategorie: Crypto Business

• More than $471.43 million was lost through Web3 security vulnerabilities in the first half of 2023.
• The Diligence Fuzzing has been integrated with the smart contract toolkit Foundry.
• The tool features a free version for developers who wish to test it out before making any payments.

The blockchain technology company ConsenSys has announced the public release of its “Diligence Fuzzing” smart contract testing tool. The new tool generates “random and invalid data points” to identify contract flaws prior to the smart contract launch.

The launch is very timely seeing that decentralized finance hacks cost over $2.8 billion in 2022. ConsenSys claims that as a result of these losses, developers are adopting more sophisticated testing tools to assist in identifying vulnerabilities before attackers do.

Previously, developers had to request access to the closed beta version of the new tool before using it. As of August 1 after the release of the “Diligence Fuzzing” tool, this approval procedure is no longer required.

Diligence Fuzzing is now integrated with Foundry’s smart contract toolkit, and it offers a free version for developers to try out.

How does the “Diligence Fuzzing” work?

According to ConsenSys security services lead Liz Daldalian, developers using the “Diligence Fuzzing” tool can annotate their contracts using a machine language called “Scribble,” which is also developed by ConsenSys. After doing this, the fuzzing tool will interpret the annotations and produce “unexpected” inputs so as to test whether the smart contract can be forced to produce unintended actions.

ConsenSys security researcher Gonçalo Sá has, however, stated that the “Diligence Fuzzing” tool is not a “black box fuzzer” and that it does not produce completely random data. Instead, Gonçalo says that the fuzzing tool acts as a “grey-box fuzzer” that understands the smart contract’s current state to limit the types of data produced, thus increasing the tool’s efficiency.

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• Fireblocks’ integration with Astar Network could bring crypto and DeFi to over 650 banks.
• Institutional investors across banks, exchanges, OTCs and hedge funds will leverage Fireblocks’ technology to easily and securely access crypto on Astar.
• An event to celebrate the integration attracted over 200 guests, including executives at VCs and Web3 founders.

Fireblocks, an enterprise-grade platform for institutional adoption of digital assets, has integrated with Astar Network, an EVM and WebAssembly (Wasm) compatible smart contracts platform.

The collaboration could see more than 650 banks and institutional investors use Fireblocks’ technology to access and manage their digital assets, boosting institutional adoption of DeFi on Astar, the two platforms said in a press release.

Banks, OTCs, exchanges and hedge funds also have an opportunity to leverage Fireblock’s MPC-based wallet infrastructure to access Astar’s assets, including on leading Astar-based DeFi protocol ArthSwap.

“We are excited to add Astar to the Fireblocks Network and support the growth of Japan’s leading smart contract platform,” said Stephen Richardson, Managing Director, Financial Markets and Head of APAC at Fireblocks.

Multichain access to dApps

With Astar offering a multichain, interoperable environment, the integration with Fireblocks allows users to tap into decentralized applications (dApps) on Ethereum and Polkadot ecosystems. Banks and institutional investors looking to diversify with digital assets will also access functionality such as trading, swaps and lending of digital assets on the Astar platform.

“Fireblocks is a leading platform catering to institutional investors. We’re looking forward to leveraging this integration to enhance adoption while giving institutions looking to build on Astar a secure and robust way to safeguard their digital assets,” Maarten Henskens, CEO of Astar Foundation, said in a statement.

Astar, Fireblocks and bitbank celebrated the integration during the WebX event in Tokyo, with more than 200 guests attending.  

The event attracted executives of global enterprises, VCs and Web3 founders, with discussions around blockchain-powered decentralized protocols.

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• Ducati will debut its digital collectibles on the XRP Ledger.
• The Bologna-based motorcycle company will work with NFT PRO on this project.
• XRP Ledger is a decentralised public blockchain that uses XRP as its native cryptocurrency.

Ducati, a Bologna-based motorcycle manufacturer, is making a foray into Web3 with an upcoming launch of a digital collectible project.

The company said in an announcement on Tuesday that it will deploy its new NFT collection on the XRP Ledger, a decentralised public blockchain network. Ripple is a contributor on the XRPL.

Ducati makes entry into Web3

Ducati has partnered with NFT PRO, a corporate white-label NFT solution, to bring the project to life. According to the company, the digital collectibles project its digital strategy as it looks to add to the engagement and experiences of its fans.  

“Entering WEB 3.0 is another way to get closer to the Ducatisti community by further extending the number of services offered to them. It also represents an opportunity to meet and make ourselves known to a new community of NFT enthusiasts, giving them the opportunity to live unique Ducati-style experiences and collect the digital assets that we will develop exclusively for this new dimension of the brand,” Claudio Domenicali, Ducati CEO, said in a statement.

The bike company says it will release more details in coming months as it rolls out new digital services and goods.

Ripple’s XRP Markets Report published in April indicated that the XRP Ledger logged increased activity in the first quarter compared to the previous three month period. In terms of on-chain activity, the company noted a 9% increase in transactions from 106 million to 116 million between Q4, 2022 and Q1, 2023.

NFTs are a key component of the XRPL activities, as it has seen users mint more than 1 million assets. DEX volumes, which jumped 34% in the period covered in the report, also demonstrated the increased usage of the blockchain network, Ripple said.

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• Binance Labs’ strategic investment in Radiant Capital will help the DeFi protocol expands its product to more EVM chains.
• The price of Radiant’s native token RDNT rose 10% following the news.

Binance Labs, the venture capital arm of world’s leading crypto exchange Binance, has invested $10 million in decentralised crypto lender Radiant Capital (RDNT).

Radiant’s lending and borrowing protocol is built on top of LayerZero, one of Binance Labs’ portfolio companies.

Radiant to use funds to expand its DeFi product

According to an announcement from Binance, the strategic funding round continues Binance Labs’ commitment towards crypto innovation, including in supporting next-generation chain-agnostic DeFi projects.

Radiant brings this goal to the market by taking on the fragmented liquidity that beleaguers the DeFi ecosystem. The platform promotes this by allowing users to tap into a bridging innovation to borrow and lend across any chain.

“Binance Labs actively seeks out promising DeFi projects that not only advance the industry but also push the boundaries of innovation. Radiant Capital’s commitment to facilitating seamless cross-chain transactions for DeFi, and performance on Arbitrum and BNB Chain demonstrates its potential for driving mass adoption,” Binance co-founder and head of Binance Labs Yi He said.

As CoinJournal reported today, Binance has released a mid-year report for the crypto industry in which the exchange highlights growth in the past six months. One of the areas to see significant growth is DeFi.

The Radiant team says the funding comes at a crucial time as the platform looks to expand its product to more EVM chains. This will add to the traction seen on Arbitrum and BNB Chain, with the protocol looking to become of the best DeFi platforms in the world.

Growth is expected to include expansion of oracle support, collateral, cross liquidations and abstract repayments. Also crucial in the product development is deployment on Ethereum mainnet and full integration with LayerZero’s messaging support.

Radiant believes the developments will see the next 100 million users come into and benefit from DeFi. Commenting on this milestone, Radiant Capital founder George Macallan said that the partnership with Binance Labs allows his platform to benefit from Binance’s “extensive expertise, resources, and strategic support.”

“Their investment will play a crucial role in propelling Radiant to new heights as the protocol expands to new chains, continues to scale, and drives utility back into the ecosystem,” he added.

Radiant’s native token RDNT reacted positively to the news, with its value jumping 10% to near $0.32.

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• Stellar and Bitso are collaborating to promote international USDC payments to Latin America.
• Bitso will use Stellar’s Anchor Network to facilitate cross-border payments and remittances to Argentina, Mexico and Colombia.
• Stellar recently partnered with HoneyComb and Coinme for similar USDC transactions.

Bitso, a Latin American crypto-powered financial services platform and crypto exchange, has announced a partnership with Stellar in an effort that will see the two collaborate in advancing international payments.

The partnership will see Bitso integrate Stellar’s Anchor Network to allow companies from across the world make USDC payments across Latin America, starting with Mexico, Colombia and Argentina.

According to Bitso, supported transactions are from US dollars via Circle’s USDC stablecoin, with this enabled through the crypto exchange’s direct connection with the local banking system.

The alliance means companies worldwide will be able to make international payments to the region without the need of an intermediary. Leveraging blockchain technology in such transactions greatly improves the settlement speed and overall costs of cross-border payments and remittances, Bitso SVP of Institutional Product Santiago Alvarado said.

Stellar’s push in USDC payments

Stellar’s collaboration with Bitso comes on the back of increased adoption of its technology in cross-border remittances.

Earlier this month, the Stellar Foundation Development announced it had partnered with crypto ATM provider Coinme to allow users send and receive USDC on Stellar. The service will be available across all Coinme platforms.

On July 17, Stellar revealed another collaboration for USDC, this time partnering with cross-border remittance app HoneyComb to enable anyone across Kenya, Uganda, Tanzania, Nigeria, Ghana, and the UK to withdraw cash with USDC balances. The service will be available at all supported MoneyGram locations in these countries.

XLM, the native Stellar token, was up 13% in the past 24 hours at $0.14 following the news and as Ripple’s XRP pumped by 8% to above $0.80.

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