The price of SafeDollar (SDO), an algorithmic decentralized finance (DeFi) stablecoin based on the Polygon (MATIC) blockchain, has plummeted to literally zero as a result of what appears to be a massive multi-million exploit today.
Iron Titanium token (TITAN), a decentralized finance (DeFi) protocol, has fallen to near zero. According to coinmarketcap, the token is now trading for $0.000007677, down from yesterday’s all-time high of $52. The fallout has brought the project to its knees.
After the majority of central banks rejected the concept of cryptocurrencies for various reasons, from security issues to implications in the monetary system, now many of these institutes are very interested in creating their own digital currency. Specifically, 60% of the world’s largest central banks are conducting experiments or proofs of concept to make a digital currency , according to a study by the Bank for International Settlements (BIS). SOURCE: Alto Nivel
In a stark warning, the European Central Bank (ECB) said in a report published today that governments that opt out of introducing central bank digital currencies (CBDCs) may face threats to their financial systems and monetary autonomy.
Launched in March 2021 and having racked up more than one million users already, SafeMoon is a blockchain-based cryptocurrency similar to Dogecoin, Bitcoin and Ethereum, but with a few key differences.
Following the recent surge in meme coins, a tweep took a deep dive into investigating sample of few of the popular meme coins and his discovery with necessary links to back his theory might be worrisome enough for investors in these coins. In his words:
In simplest terms, proof-of-work and proof-of-stake are two different ways that you can mine a cryptocurrency. In more precise terms, proof-of-work and proof-of-stake are both types of consensus mechanisms that are designed to solve the issue of trust between the participants of a blockchain network.
The whole world is experiencing a drastic shift from traditional wallets to digital wallet through digital transformation. A digital wallet holds digital currency as well as a cryptocurrency with advanced blockchain technology. Yes, for beginners it may be difficult to differentiate between digital currency and cryptocurrency. But there are massive differences between these two currencies in the digital wallet.
The city of Dubai seems to have launched its own cryptocurrency, called the DubaiCoin (DBIX). It is based on a public blockchain, meaning people will be able to generate their own DBIX by mining them. The price of the coin rose by over 1000% over the past 24 hours, according to Crypto.com. It was trading at around $1.13 at around 4 pm IST on May 27, up from an original price of $0.17
Unlike other exchanges where the third party is in charge of transactions, P2P exchanges are independent of any central body. The exchange only acts as an online platform to bring traders together, so this makes them prone to scams as transactions are done directly between the traders. You are fully in charge of the transaction and you have the choice to select who you want to trade with and what payment means. P2P exchanges like Remitano allow you to buy Bitcoin with your local currency with no charges.