Kategorie: Crypto Markets

• NotCommon is a one-stop shop for both artists and collectors to trade and exhibit work.
• The platform also aims at protecting users and combat the uptick in cybercrime.
• In 2022 alone, hackers stole $175M in digital assets.

Coinjournal can exclusively report that Web3 security platform NotCommon is now live after a $1.5 million funding. The platform offers a one-stop shop for both collectors and artists to trade and exhibit work.

The platform aims at taking the fight against blockchain fraud by protecting users from the rampant cybercrimes within the Web3 space.

Helping users keep their collections safe

Hackers and scammers have minted millions of dollars from the Web3 industry. They find loopholes and steal personal collections putting in question the security status of a majority of Web3 platforms. While a good number of the victims are newcomers new to smart contracts, seasoned NFT collectors have also fallen victim to phishing attacks.

Web3 suffers from a lack of the same safety nets witnessed by centralized services making it difficult for victims of theft to recover their stolen digital assets.

Commenting on the rampant security issues facing the Web3 industry, NotCommon Co-Founder and CEO Michael R. Pierce said:

“2022 was a tough year for the reputation of Web3 in general, but there is still palpable interest users and investors. However, there is a need to make the space safer, and that’s where we aim to be a driving force for security. For the benefits of Web3 to be realized, there is a huge educational component needed to onboard new Web3 users, if we are going to encourage further adoption.”

To address this problem and help NFT collectors and artists keep their collections safe, the NotCommon platform “prioritizes education and security, giving NFT collectors the tools they need to protect and manage their identity in Web3.”

Curated blacklist of web3 fraudsters

NotCommon aims to eliminate security issues within the Web3 space and usher in a new era of digital creativity by concentrating on security, safety and identity protection. To that end, NotCommon has launched a “curated moderated blacklist of fraudsters, allowing users to crosscheck people and entities against a database of known bad actors.”

The curated moderated blacklist of fraudsters includes a database of the various types of scams that have occurred within Web3 further adding to its deep resource for education about current scams and a live-updated compendium of known social engineering tricks.

NotCommon users will receive customized security alerts based on the collections they are holding in their crypto wallets. NotCommon’s Chrome extension also allows users to flag phishing accounts and keep a continuously updated log of scammers and fake accounts.

The post Exclusive: Web3 security platform NotCommon goes live backed by $1.5M funding appeared first on CoinJournal.

• Klaytn is a public blockchain platform developed by South Korean internet giant Kakao Corp.
• The blockchain plans on establishing KLAY as a deflationary asset.
• It also wants to provide more tools for developers who want to launch products on the network.

The latest technology and developer roadmap released by Klaytn developers earlier this week emphasized that the Klaytn blockchain intends to increase the demand and value for KLAY tokens.

Klaytn also recently passed a governance proposal to burn about 50% of KLAY’s supply. The move aims at making KLAY more valuable going by the demand and supply principle.

🗳 KGP-6 Vote Result: PASS ✅️

26 out of 31 GC members voted YES 👍

Upcoming initiatives to coincide with the Kore hardfork in early Q2:
1️⃣ 5.281B $KLAY initial burn 🔥
2️⃣ KGF & KIR to become ➡️ Community Fund (KCF) & Foundation Fund (KFF)

Read more: https://t.co/p6NZ3Atttl

— Klaytn (@klaytn_official) February 28, 2023

Klaytn 2023 roadmap

The recently released Klaytn roadmap states that Klaytn would find crypto infrastructure services, like decentralized oracles, where the KLAY token can be used, to increase the token’s transactional utility. This would also result in more gas burns.

Klaytn also plans on launching a permissionless pilot network on its Cypress mainnet in the second half of 2023. The pilot network will test the automation of the entry and exit of validators or entities on any blockchain that is responsible for verifying transactions.

The blockchain also intends to initiate several governance initiatives including establishing community governance council selection and sacking processes. Klaytn intends to transfer its decision-making authority to the community allowing KLAY token holders to have a say on who sits on the governance council, which is a group of network participants that oversee the governance of the Klaytn Network.

While the price of the KLAY token is currently in the red, Klaytn expects the value of the token to considerably rise once it starts implementing the milestones in the roadmap. 

The post Klaytn Blockchain to focus on demand and value of KLAY token in 2023: roadmap appeared first on CoinJournal.

• Stockton discussed correlation of BTC and Nasdaq 100 on CNBC.
• She says bitcoin has to break above $25,000 to look attractive.
• Bitcoin is currently up about 40% YTD; Nasdaq 100 about 11%.

So far, bitcoin has meaningfully outperformed the Nasdaq 100 this year – up roughly 40% at writing versus a significantly narrower 11% gain in the tech-heavy index.

Katie Stockton’s remarks on CNBC

Interestingly, BTC remained resilient in the back half of the current month even after the U.S. Bureau of Labour Statistics said inflation was up more than expected in January.

Nonetheless, Fairlead Strategies’ Katie Stockton says bitcoin and the Nasdaq 100 index will likely be more correlated again moving forward.

We suspect that with equities now declining again, we’ll get back into that higher correlation mode between bitcoin and Nasdaq 100 and other risk assets.

A day earlier, CoinShares data confirmed that short-bitcoin funds secured inflows of $10 million last week.

Bitcoin needs to break above a key resistance

According to Stockton, bitcoin is still trading below a strong resistance around the $25,000 level and has to break above it to look attractive. On CNBC’s “Squawk Box”, she said:

It needs to clear that level in order to look better and because that would resolve a trading range to the upside and tell us that range is more likely a reversal pattern versus a continuation pattern.

Stockton is keeping neutral both on yields and the U.S. dollar for the next several months, she also confirmed.

BTC last week was briefly seen trading just above the said price – a move that analysts at Bitfinex said could indicate a possible bottom.

The post Pro expects BTC and Nasdaq 100 to be more correlated moving forward appeared first on CoinJournal.

• Solana blockchain went offline for 20 hours last weekend.
• Marinade Finance’s Brandon Tucker says upcoming updates will significantly reduce futures outages.
• But technical and human errors remain a concern for crypto and users need to have this outlook “hard-wired into any risk profile.”

The Solana Foundation noted in an update on 27 February 2023 that the root cause of the 20-hour long network outage on 25 February was not yet clear.

However, Solana Labs co-founder & CEO Anatoly Yakovenko did talk about what had not caused the latest outage. The Solana Labs exec dismissed claims that the downtime was due to the clogging of the network as result of extremely high volume of on-chain votes and validator messages.

Why are votes transactions? Every thread that I’ve seen that talks about this comes form pure ignorance.

Classic BFT consensus requires quadratic messaging overhead.

The more nodes you have in the same quorum, the part of the network that agrees on the state, the more messages… https://t.co/8lOhICb8mn

— toly 🇺🇸 (@aeyakovenko) February 27, 2023

Solana updates to significantly reduce futures outages

After going offline for 20 hours, the Solana blockchain successfully restarted after two attempts.

While Solana’s many outages remain a blot on the blockchain, Brandon Tucker, the growth lead at liquid staking protocol Marinade Finance, says an upgrade to the system will significantly improve the SOL blockchain and “slash” future network freezes.

Tucker shared his views in a comment sent to CoinJournal, noting:

“Chain restarts are never welcome, but it’s not a major setback. Indeed, despite the furor, it’s a similar outage to the five others we’ve seen over the last 12-18 months. Ultimately, it’s good to see the validator community rally together on their own accord to initiate the updates and restart the chain in real time.”

Tucker opines that Solana’s push for throughput and decentralization is something no other chain is attempting, and that getting it right isn’t always straight. In his view, these goals are particularly difficult to achieve when the network is “already being used by more people than just about any other chain.”

Technical and human error are likely to happen, the Marinade developer acknowledged – especially after recent events around both Solana and the broader crypto ecosystem. Tucker believes this is something that investors should have “hard-wired into any risk profile.”

As for what happens next, he thinks the Solana team will be more diligent as they handle updates to the network.

“While the exact cause of the performance degradation is unknown at this time, the latest 1.14 update appears to be the issue. As a result, Solana should and will likely do even more due diligence during testing before rolling out these updates.”

Solana is also preparing for a new consensus implementation, expected to remove any would-be single point of failure. That upgrade is by Jump’s Firedancer validator client. Not only is it set to bolster network resilience, but according to Tucker, also greatly cut chances of future outages.

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