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<?xml version="1.0" encoding="UTF-8"?><rss version="2.0" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:wfw="http://wellformedweb.org/CommentAPI/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:atom="http://www.w3.org/2005/Atom" xmlns:sy="http://purl.org/rss/1.0/modules/syndication/" xmlns:slash="http://purl.org/rss/1.0/modules/slash/" xmlns:georss="http://www.georss.org/georss" xmlns:geo="http://www.w3.org/2003/01/geo/wgs84_pos#" > <channel> <title>CoinDarwin</title> <atom:link href="https://coindarwin.com/feed/" rel="self" type="application/rss+xml" /> <link>https://coindarwin.com</link> <description>Crypto Investment Compass</description> <lastBuildDate>Wed, 23 Oct 2024 10:53:50 +0000</lastBuildDate> <language>en-US</language> <sy:updatePeriod> hourly </sy:updatePeriod> <sy:updateFrequency> 1 </sy:updateFrequency> <generator>https://wordpress.org/?v=6.6.2</generator> <image> <url>https://coindarwin.com/wp-content/uploads/2024/02/cropped-logo512-32x32.png</url> <title>CoinDarwin</title> <link>https://coindarwin.com</link> <width>32</width> <height>32</height></image> <site xmlns="com-wordpress:feed-additions:1">228688760</site> <item> <title>Overview of ZEROBASE: A Real-Time ZK Proof Network Backed by Binance Labs</title> <link>https://coindarwin.com/academy/beginner-guide/overview-of-zerobase-a-real-time-zk-proof-network-backed-by-binance-labs/</link> <dc:creator><![CDATA[cd]]></dc:creator> <pubDate>Wed, 23 Oct 2024 10:53:46 +0000</pubDate> <category><![CDATA[Beginner Guide]]></category> <guid isPermaLink="false">https://coindarwin.com/?p=398347</guid> <description><![CDATA[<p>Recently, the real-time ZK proof network project, ZEROBASE, raised $5 million in funding from prominent investors including Binance Labs.</p><p>The post <a href="https://coindarwin.com/academy/beginner-guide/overview-of-zerobase-a-real-time-zk-proof-network-backed-by-binance-labs/">Overview of ZEROBASE: A Real-Time ZK Proof Network Backed by Binance Labs</a> first appeared on <a href="https://coindarwin.com">CoinDarwin</a>.</p>]]></description> <content:encoded><![CDATA[<figure class="wp-block-image size-large"><img fetchpriority="high" decoding="async" width="1024" height="576" src="https://coindarwin.com/wp-content/uploads/2024/10/zerobase-coindarwin-1024x576.webp" alt="What is zerobase?" class="wp-image-398492" srcset="https://coindarwin.com/wp-content/uploads/2024/10/zerobase-coindarwin-1024x576.webp 1024w, https://coindarwin.com/wp-content/uploads/2024/10/zerobase-coindarwin-300x169.webp 300w, https://coindarwin.com/wp-content/uploads/2024/10/zerobase-coindarwin-768x432.webp 768w, https://coindarwin.com/wp-content/uploads/2024/10/zerobase-coindarwin-390x220.webp 390w, https://coindarwin.com/wp-content/uploads/2024/10/zerobase-coindarwin-150x84.webp 150w, https://coindarwin.com/wp-content/uploads/2024/10/zerobase-coindarwin.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure> <p>The ZK (Zero-Knowledge) sector continues to attract significant venture capital investment. Recently, the real-time ZK proof network project, <strong>ZEROBASE</strong>, raised <strong>$5 million</strong> in funding from prominent investors including Binance Labs, Lightspeed Faction, Dao5, IDG, Matrix Partners, and Symbolic Capital. This marks the second notable financing in the ZK space since September, following a16z CSX’s lead investment in ZK proof generation layer developer Fermah.</p> <h2 class="wp-block-heading">The Appeal of ZEROBASE</h2> <p>In an increasingly crowded ZK landscape, the decision by cautious venture capitalists to invest in ZEROBASE raises questions. What sets this project apart?</p> <h3 class="wp-block-heading">Real-Time ZK Proof Network</h3> <p>ZEROBASE is designed to provide privacy and access to decentralized computing infrastructure. It was launched by <strong>Salus</strong>, a Web3 security company specializing in vulnerability research and security audits. Just three months prior, Salus received a grant from Ethereum, Aztec, Polygon, Scroll, Taikoxyz, and ZKsync for its work on zero-knowledge vulnerability analysis and security auditing.</p> <p><strong>Shawnc Chong</strong>, co-founder of ZEROBASE and Salus, hails from Malaysia and graduated from King’s College London. He has also invested in notable projects such as BounceBit and Sahara AI, showcasing his extensive experience in the crypto space.</p> <p>The core aspects of ZK technology in blockchain revolve around two key features: <strong>privacy</strong> and <strong>scalability</strong>. ZK technology allows one party to verify information without exposing underlying data, making it an ideal choice for protecting sensitive information. Additionally, it enhances scalability by offloading complex computations off-chain while maintaining on-chain verification integrity.</p> <p>Despite rapid advancements in <a href="https://coindarwin.com/academy/beginner-guide/what-is-zk-rollup-everything-you-need-to-know/" target="_blank" rel="noopener" title="What is ZK Rollup? Everything You Need to Know">ZK technology</a>, various infrastructure challenges persist, including speed, cost, centralization, and scalability. ZEROBASE aims to address these challenges.</p> <h2 class="wp-block-heading">Features and Architectural Design</h2> <p>According to information from its website, ZEROBASE focuses on three main features:</p> <ol class="wp-block-list"><li><strong>Rapid Proof Generation</strong>: ZEROBASE can generate ZK proofs within <strong>400 milliseconds</strong>.</li> <li><strong>Secure and Private Computation</strong>: It utilizes Trusted Execution Environments (TEE) for secure, private proof computations and tamper-proof data to ensure network security and privacy.</li> <li><strong>Distributed Computing Architecture</strong>: The architecture eliminates single points of failure while maintaining decentralization, with consensus times of under one second.</li></ol> <p>In previous network designs, users interacted with a central hub to obtain a list of nodes, leading to issues with hub overload. If the hub encountered problems, the entire system was affected.</p> <div class="wp-block-image"><figure class="aligncenter size-full"><img decoding="async" width="432" height="388" src="https://coindarwin.com/wp-content/uploads/2024/10/ZEROBASE_Architectural-coindarwin.webp" alt="" class="wp-image-398456" srcset="https://coindarwin.com/wp-content/uploads/2024/10/ZEROBASE_Architectural-coindarwin.webp 432w, https://coindarwin.com/wp-content/uploads/2024/10/ZEROBASE_Architectural-coindarwin-300x269.webp 300w, https://coindarwin.com/wp-content/uploads/2024/10/ZEROBASE_Architectural-coindarwin-150x135.webp 150w" sizes="(max-width: 432px) 100vw, 432px" /></figure></div> <p>ZEROBASE implements a novel architecture that divides nodes into smaller subsets, each managed by its own hub. Each hub only maintains the status information of the nodes it oversees, allowing nodes to communicate directly with their respective hubs.</p> <div class="wp-block-image"><figure class="aligncenter size-full"><img decoding="async" width="472" height="421" src="https://coindarwin.com/wp-content/uploads/2024/10/ZEROBASE_hubs-coindarwin.webp" alt="" class="wp-image-398474" srcset="https://coindarwin.com/wp-content/uploads/2024/10/ZEROBASE_hubs-coindarwin.webp 472w, https://coindarwin.com/wp-content/uploads/2024/10/ZEROBASE_hubs-coindarwin-300x268.webp 300w, https://coindarwin.com/wp-content/uploads/2024/10/ZEROBASE_hubs-coindarwin-150x134.webp 150w" sizes="(max-width: 472px) 100vw, 472px" /></figure></div> <p>This design enables the system to scale smoothly by adding more hubs as the number of nodes increases.</p> <p>The <strong>ZEROBASE Hub</strong> is responsible for broadcasting verification tasks. It distributes tasks across the ZEROBASE network, with proof generators randomly receiving proof generation assignments within specific time frames. The hub also handles user verification requests, requiring users to declare their tasks before broadcasting them on the network.</p> <p>Additional functionalities of the ZEROBASE Hub include generating node connection credentials, processing data packets sent by nodes, and managing payment orders.</p> <h2 class="wp-block-heading">Future Prospects</h2> <p>Currently, <a href="https://zerobase.pro/" target="_blank" rel="noopener nofollow" title="ZEROBASE">ZEROBASE</a> is seeing applications such as <strong>zkLogin</strong>, <strong>zkDarkPool</strong>, and <strong>Tiga Processor</strong>. With its innovative approach and strong backing, the future development of ZEROBASE is worth watching closely.</p><p>The post <a href="https://coindarwin.com/academy/beginner-guide/overview-of-zerobase-a-real-time-zk-proof-network-backed-by-binance-labs/">Overview of ZEROBASE: A Real-Time ZK Proof Network Backed by Binance Labs</a> first appeared on <a href="https://coindarwin.com">CoinDarwin</a>.</p>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">398347</post-id> </item> <item> <title>Quick Overview of the Current KRC20 Market and Tools</title> <link>https://coindarwin.com/information/press-release/quick-overview-of-the-current-krc20-market-and-tools/</link> <dc:creator><![CDATA[cd]]></dc:creator> <pubDate>Wed, 23 Oct 2024 09:27:17 +0000</pubDate> <category><![CDATA[Press Release]]></category> <guid isPermaLink="false">https://coindarwin.com/?p=398131</guid> <description><![CDATA[<p>Recently, the KDAO inscription, the largest KRC20 token on the Kas blockchain, began minting. The FOMO (Fear of Missing Out) surged around midday.</p><p>The post <a href="https://coindarwin.com/information/press-release/quick-overview-of-the-current-krc20-market-and-tools/">Quick Overview of the Current KRC20 Market and Tools</a> first appeared on <a href="https://coindarwin.com">CoinDarwin</a>.</p>]]></description> <content:encoded><![CDATA[<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://coindarwin.com/wp-content/uploads/2024/10/kaspa_KRC20-coindarwin-1024x576.webp" alt="Current KRC20 Market and Tools" class="wp-image-398294" srcset="https://coindarwin.com/wp-content/uploads/2024/10/kaspa_KRC20-coindarwin-1024x576.webp 1024w, https://coindarwin.com/wp-content/uploads/2024/10/kaspa_KRC20-coindarwin-300x169.webp 300w, https://coindarwin.com/wp-content/uploads/2024/10/kaspa_KRC20-coindarwin-768x432.webp 768w, https://coindarwin.com/wp-content/uploads/2024/10/kaspa_KRC20-coindarwin-390x220.webp 390w, https://coindarwin.com/wp-content/uploads/2024/10/kaspa_KRC20-coindarwin-150x84.webp 150w, https://coindarwin.com/wp-content/uploads/2024/10/kaspa_KRC20-coindarwin.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure> <p>Recently, the KDAO inscription, the largest KRC20 token on the Kas blockchain, began minting. The FOMO (Fear of Missing Out) surged around midday, leading to the quick completion of its total supply of 15 million inscriptions in just one day, causing network fees to rise over tenfold during this period.</p> <p>Observations indicate that, aside from a few inscriptions on the Bitcoin mainnet, many users perceive the inscription ecosystems across various chains as “dead.” However, in September alone, several inscriptions on Kas emerged with market capitalizations exceeding ten million dollars, and KDAO itself surpassed this threshold last night. This article aims to provide an overview of the current KRC20 inscription market and the tools available, helping readers quickly understand this sector.</p> <h2 class="wp-block-heading">Market Overview</h2> <p>The leading KRC20 token is <strong>NACHO</strong> (Black Cat), with a current market cap of <strong>$67.2 million</strong> and a total supply of <strong>10 million</strong> tokens. The official account for NACHO is <strong>@NachoWyborski</strong>.</p> <p>NACHO is inspired by the pet cat of Kas co-founder Shai. Although the token was initially deployed and prepared for minting on June 30, it was paused for several months due to issues on the Kas network and only reopened on September 15, starting with an initial market cap of about <strong>$2 million</strong>, which later peaked above <strong>$80 million</strong>.</p> <div class="wp-block-image"><figure class="aligncenter size-full"><img loading="lazy" decoding="async" width="722" height="425" src="https://coindarwin.com/wp-content/uploads/2024/10/NACHO_price_chart-coindarwin.webp" alt="" class="wp-image-398147" srcset="https://coindarwin.com/wp-content/uploads/2024/10/NACHO_price_chart-coindarwin.webp 722w, https://coindarwin.com/wp-content/uploads/2024/10/NACHO_price_chart-coindarwin-300x177.webp 300w, https://coindarwin.com/wp-content/uploads/2024/10/NACHO_price_chart-coindarwin-150x88.webp 150w" sizes="(max-width: 722px) 100vw, 722px" /></figure></div> <p>Another leading token is <strong>KASPER</strong>, with a market cap of <strong>$39 million</strong> and a total supply of <strong>1 million</strong> tokens, represented by the official account <strong>@KasperCoin</strong>. KASPER also launched on September 15 and has already listed on exchanges like XT.com and CoinEx due to its smaller total supply compared to NACHO.</p> <div class="wp-block-image"><figure class="aligncenter size-full"><img loading="lazy" decoding="async" width="723" height="431" src="https://coindarwin.com/wp-content/uploads/2024/10/KASPER_price_chart-coindarwin.webp" alt="" class="wp-image-398172" srcset="https://coindarwin.com/wp-content/uploads/2024/10/KASPER_price_chart-coindarwin.webp 723w, https://coindarwin.com/wp-content/uploads/2024/10/KASPER_price_chart-coindarwin-300x179.webp 300w, https://coindarwin.com/wp-content/uploads/2024/10/KASPER_price_chart-coindarwin-150x89.webp 150w" sizes="(max-width: 723px) 100vw, 723px" /></figure></div> <p>In addition to these two leading tokens, several others have market capitalizations exceeding <strong>$10 million</strong>. Notably, KDAO began minting at 4 AM yesterday. During the minting period, the trading price on the market consistently exceeded minting costs, attracting numerous “arbitrageurs” who sold their tokens immediately after minting for profit.</p> <div class="wp-block-image"><figure class="aligncenter size-full"><img loading="lazy" decoding="async" width="716" height="440" src="https://coindarwin.com/wp-content/uploads/2024/10/KDAO_price_chart-coindarwin.webp" alt="" class="wp-image-398201" srcset="https://coindarwin.com/wp-content/uploads/2024/10/KDAO_price_chart-coindarwin.webp 716w, https://coindarwin.com/wp-content/uploads/2024/10/KDAO_price_chart-coindarwin-300x184.webp 300w, https://coindarwin.com/wp-content/uploads/2024/10/KDAO_price_chart-coindarwin-150x92.webp 150w" sizes="(max-width: 716px) 100vw, 716px" /></figure></div> <p>As KDAO’s popularity surged by midday, Kas network fees increased significantly, resulting in diminishing price spreads. The minting concluded by 10 PM, and prices continued to rise, currently sitting at <strong>$0.788</strong> per token, reflecting a total market cap of <strong>$11.82 million</strong>.</p> <h2 class="wp-block-heading">KRC20 Tools Explained</h2> <h3 class="wp-block-heading">KAS Withdrawals</h3> <p>Current exchanges supporting KAS spot trading include Bybit, Bitget, and Gate. However, many exchanges have paused KAS withdrawals for KDAO, so it’s advisable to prioritize withdrawals from Bybit, which charges a fee of <strong>5 KAS</strong> (approximately <strong>$0.65</strong>) per transaction.</p> <h3 class="wp-block-heading">KRC20 Market Insights</h3> <p>For tracking prices and minting progress, users can utilize <strong>Kas.fyi</strong>, a tool that covers most data requirements.</p> <h3 class="wp-block-heading">Minting and Market Dynamics</h3> <p>The primary tool for KRC20 inscription minting is the <strong>KSPR Bot</strong>, with no direct competitors available. Users can see ten options on the main interface, corresponding to ten independent addresses (each Telegram account can create ten wallets for concurrent minting).</p> <p>After creating a wallet and completing a transfer within the bot, users can initiate the minting process by entering commands for the inscription name, quantity, and network fees. The bot automates the minting until the predefined limit is reached or the user stops it manually. Network fees can be matched using Low, Medium, or High settings or input directly as a number. It’s important to note that while minting can technically occur with just <strong>1 KAS</strong> in gas fees, the speed will be slower than normal.</p> <p>KSPR follows a one-time payment model, settling tasks upon completion. The bot does not track whether the inscription limit has been reached, so users must manually stop the minting, settle the transactions, and reclaim any remaining KAS.</p> <h3 class="wp-block-heading">Trading Insights</h3> <p>The main trading market operates within the KSPR Bot, where users can enter via the <strong>/marketplace</strong> command to purchase listed orders. To sell, users can manage their listings through the <strong>/mylistings</strong> command.</p> <h2 class="wp-block-heading">Who is Driving the Market?</h2> <p>Currently, KRC20 remains under the radar in the Chinese community. The identities of those sustaining high market caps and trading volumes are unclear. Some users speculate it could be a “KAS miner conspiracy,” but perhaps this detail is less significant than recognizing leading trends and the profit potential in the market. Engaging before the opportunity evaporates is paramount.</p><p>The post <a href="https://coindarwin.com/information/press-release/quick-overview-of-the-current-krc20-market-and-tools/">Quick Overview of the Current KRC20 Market and Tools</a> first appeared on <a href="https://coindarwin.com">CoinDarwin</a>.</p>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">398131</post-id> </item> <item> <title>Insights on Aptos’ Involvement with Echo Protocol</title> <link>https://coindarwin.com/information/guest-post/insights-on-aptos-involvement-with-echo-protocol/</link> <dc:creator><![CDATA[cd]]></dc:creator> <pubDate>Tue, 22 Oct 2024 07:46:17 +0000</pubDate> <category><![CDATA[Guest Post]]></category> <guid isPermaLink="false">https://coindarwin.com/?p=397968</guid> <description><![CDATA[<p>What does the recent pre-seed funding round of Echo Protocol, a player in the BTCFi space, signify? Here’s my perspective on this development.</p><p>The post <a href="https://coindarwin.com/information/guest-post/insights-on-aptos-involvement-with-echo-protocol/">Insights on Aptos’ Involvement with Echo Protocol</a> first appeared on <a href="https://coindarwin.com">CoinDarwin</a>.</p>]]></description> <content:encoded><![CDATA[<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://coindarwin.com/wp-content/uploads/2024/10/cd_Echo_Protocol-coindarwin-1024x576.webp" alt="Echo Protocol" class="wp-image-397969" srcset="https://coindarwin.com/wp-content/uploads/2024/10/cd_Echo_Protocol-coindarwin-1024x576.webp 1024w, https://coindarwin.com/wp-content/uploads/2024/10/cd_Echo_Protocol-coindarwin-300x169.webp 300w, https://coindarwin.com/wp-content/uploads/2024/10/cd_Echo_Protocol-coindarwin-768x432.webp 768w, https://coindarwin.com/wp-content/uploads/2024/10/cd_Echo_Protocol-coindarwin-390x220.webp 390w, https://coindarwin.com/wp-content/uploads/2024/10/cd_Echo_Protocol-coindarwin-150x84.webp 150w, https://coindarwin.com/wp-content/uploads/2024/10/cd_Echo_Protocol-coindarwin.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure> <p>What does the recent pre-seed funding round of Echo Protocol, a player in the BTCFi space, signify? Besides the participation of Arthur Hayes, the most noteworthy aspect is the direct involvement of Aptos, which has committed to offering a guaranteed 10% APY. Here’s my perspective on this development:</p> <h2 class="wp-block-heading">1. The Sustained Interest in BTCFi</h2> <p>The BTCFi sector continues to attract attention, not only because of the numerous infrastructural projects being built around the Bitcoin ecosystem, but also due to the various EVM-compatible chains, Move-based chains, Solana ecosystems, and real-world asset (RWA) applications that serve as major conduits connecting the vast pool of native Bitcoin assets.</p> <p>While other chains have wrapped versions of BTC for DeFi applications, the ability to facilitate cross-chain asset transfers natively while aggregating diverse yields makes BTCFi an appealing option for every BTC miner, the institutions backing ETFs, and Bitcoin holders. This is fundamentally why Echo Protocol, an Aptos ecosystem project, is entering the BTCFi arena.</p> <h2 class="wp-block-heading">2. Cross-Chain Solutions via BSquared Network</h2> <p><a href="https://x.com/echoprotocol_" target="_blank" rel="noopener nofollow" title="Echo Protocol">Echo Protocol</a> has opted for BSquared Network’s cross-chain bridge solution. Users’ BTC is transferred to the B² Network via the B² Bridge, where it is converted into uBTC through a pre-deployed UniRouter, and subsequently transformed into aBTC within the Aptos ecosystem. The aBTC can then be deposited into a lending platform to generate returns.</p> <p>This technical framework is relatively straightforward. BSquare offers a robust modular BTC Layer 2 solution, with B² Hub providing a modular data availability layer, and zkBridge enabling secure cross-chain functionality.</p> <p>Specifically, B² has made a secure multi-signature wallet available for BTC deposits. When zkOracle nodes monitor and record asset inflows, they generate ZK Proofs of the deposit status, which are then sent to an AA <a href="https://coindarwin.com/academy/beginner-guide/what-is-smart-contract-new-premier-guide/" target="_blank" rel="noopener" title="What is Smart Contract? New Premier Guide">smart contract</a> on B² for verification. If the proof checks out, assets are minted and released to the user’s address on the B² chain. Furthermore, the BitVM challenge mechanism allows users to contest any discrepancies in cross-chain asset state changes, ensuring the security of asset transfers.</p> <p>Since the zkBridge was specially customized for B² by PolyhedraZK, it supports cross-chain interactions between Move-based public chains and the Bitcoin chain. This technical advantage is crucial for Echo Protocol’s rapid entry into the BTCFi space.</p> <h2 class="wp-block-heading">3. The Synergy of Move Language and Bitcoin UTXO Structure</h2> <p>It’s well-known that the Move language’s object-based account structure has a natural affinity with Bitcoin’s UTXO model. Move-based public chains have performed well in the current market, particularly Aptos and SUI, benefiting from the security and financial characteristics of Move. These chains are viewed as the main battleground for the “new DeFi light.”</p> <p>After achieving impressive TPS metrics, Aptos has actively expanded its DeFi ecosystem. In the past six months, Aptos has partnered with Tether to introduce the USDT stablecoin, collaborated with Ondo to integrate RWAs, and even ventured into gaming through partnerships with NBCUniversal. These initiatives, along with successful applications like tapos cat, have elevated user engagement and transaction volumes to top-tier levels.</p> <p>Given this context, Aptos’ strategic intent to embrace the BTCFi ecosystem is clear, and Echo Protocol positions itself as a crucial bridge between these two ecosystems.</p> <p>Moreover, with this collaborative strategy in place, not only will BSquare, Echo, and Babylon accrue points, but Aptos will also provide tangible APT token rewards to support these developments.</p> <p>It’s worth noting that the support from the Move-based chains, especially the Sui and Aptos foundations, for developing the DeFi ecosystem is remarkably strong.</p><p>The post <a href="https://coindarwin.com/information/guest-post/insights-on-aptos-involvement-with-echo-protocol/">Insights on Aptos’ Involvement with Echo Protocol</a> first appeared on <a href="https://coindarwin.com">CoinDarwin</a>.</p>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">397968</post-id> </item> <item> <title>What is Bridge, the Platform Stripe Acquired for $1.1 Billion?</title> <link>https://coindarwin.com/information/press-release/what-is-bridge-the-platform-stripe-acquired-for-1-1-billion/</link> <dc:creator><![CDATA[cd]]></dc:creator> <pubDate>Mon, 21 Oct 2024 03:52:47 +0000</pubDate> <category><![CDATA[Press Release]]></category> <guid isPermaLink="false">https://coindarwin.com/?p=392244</guid> <description><![CDATA[<p>According to TechCrunch founder Michael Arrington, Stripe has made its largest acquisition to date, buying the stablecoin platform Bridge for a whopping $1.1 billion.</p><p>The post <a href="https://coindarwin.com/information/press-release/what-is-bridge-the-platform-stripe-acquired-for-1-1-billion/">What is Bridge, the Platform Stripe Acquired for $1.1 Billion?</a> first appeared on <a href="https://coindarwin.com">CoinDarwin</a>.</p>]]></description> <content:encoded><![CDATA[<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="1024" height="576" src="https://coindarwin.com/wp-content/uploads/2024/10/stripe-bridge-coindarwin.webp" alt="What is Bridge" class="wp-image-392263" srcset="https://coindarwin.com/wp-content/uploads/2024/10/stripe-bridge-coindarwin.webp 1024w, https://coindarwin.com/wp-content/uploads/2024/10/stripe-bridge-coindarwin-300x169.webp 300w, https://coindarwin.com/wp-content/uploads/2024/10/stripe-bridge-coindarwin-768x432.webp 768w, https://coindarwin.com/wp-content/uploads/2024/10/stripe-bridge-coindarwin-390x220.webp 390w, https://coindarwin.com/wp-content/uploads/2024/10/stripe-bridge-coindarwin-150x84.webp 150w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure> <p>According to TechCrunch founder Michael Arrington, Stripe has made its largest acquisition to date, buying the stablecoin platform Bridge for a whopping $1.1 billion. This is not only Stripe’s biggest deal, but also one of the largest acquisitions in Web3 history.</p> <p>This acquisition comes shortly after Stripe’s October launch of support for USDC payments, allowing users from over 150 countries to pay with stablecoins on Ethereum, Solana, and Polygon blockchains.</p> <p>In August, Bridge had announced the completion of a $58 million funding round with support from leading investors including Sequoia Capital, Ribbit Capital, Index Ventures, Haun Ventures, and 1confirmation.</p> <p>Bridge, which has been in development for more than two years, was founded by two entrepreneurs with extensive experience in fintech. CEO Zach Abrams previously served as Chief Product Officer at Brex, led consumer operations at Coinbase, and was a General Manager at Square. CTO Sean Yu has held senior engineering roles at Airbnb, Coinbase, DoorDash, and Square.</p> <p>Notably, this isn’t the first time the two co-founders have collaborated. In 2012, they founded Evenly, a peer-to-peer payments platform designed to simplify payments between friends. Evenly was acquired by Square in 2013, proving their innovative capabilities in the payments sector.</p> <h2 class="wp-block-heading">Bridge: The Web3 Version of Stripe</h2> <p><a href="https://www.bridge.xyz/" target="_blank" rel="noopener nofollow" title="Bridge">Bridge</a> has often been referred to as the “Web3 version of Stripe.” The platform offers simple, easy-to-use APIs that help businesses overcome the hurdles of adopting stablecoins, making stablecoin transfers and acceptance more accessible and cost-effective. Whether it’s integrating stablecoin payments, helping businesses issue their own stablecoins, or enabling efficient cross-border transactions, Bridge provides a comprehensive set of solutions.</p> <p>Bridge’s Orchestration API and Issuance API offer businesses and developers a seamless experience. The Orchestration API simplifies the integration of stablecoin payments by managing all regulatory, compliance, and technical complexities, while the Issuance API allows businesses to issue their own stablecoins in minutes. These companies can settle transactions in their own branded stablecoins while accepting various currencies, including USD, EUR, USDC, and USDT, with reserves that can be invested in U.S. Treasury bonds for yield.</p> <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="946" src="https://coindarwin.com/wp-content/uploads/2024/10/bridge_network-coindarwin-1024x946.webp" alt="" class="wp-image-392245" srcset="https://coindarwin.com/wp-content/uploads/2024/10/bridge_network-coindarwin-1024x946.webp 1024w, https://coindarwin.com/wp-content/uploads/2024/10/bridge_network-coindarwin-300x277.webp 300w, https://coindarwin.com/wp-content/uploads/2024/10/bridge_network-coindarwin-768x710.webp 768w, https://coindarwin.com/wp-content/uploads/2024/10/bridge_network-coindarwin-150x139.webp 150w, https://coindarwin.com/wp-content/uploads/2024/10/bridge_network-coindarwin.webp 1091w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure> <p>Using Bridge’s APIs, businesses can transfer funds globally in minutes, send stablecoin payments effortlessly, and convert local currencies into stablecoins. The platform also enables global customers to maintain accounts in USD and EUR, allowing them to save and spend in these currencies.</p> <h2 class="wp-block-heading">Over $5 Billion in Annual Payments Processed by Bridge</h2> <p>Bridge has attracted major clients, including SpaceX, which uses Bridge to handle payments in different currencies across jurisdictions, transferring those funds to its global treasury via stablecoins. The platform has also partnered with blockchain networks like Stellar and crypto payment app Strike, providing infrastructure for their stablecoin payment services.</p> <p>In addition, Coinbase has integrated Bridge’s services, supporting transfers between Tether on Tron and USDC on Base. As of now, Bridge has processed over $5 billion in annual payments.</p> <p>Industry insiders report that many crypto payment companies are either using or planning to use Bridge’s services. One source mentioned talking to 25-30 crypto payment companies in recent weeks, many of which are already incorporating Bridge into their operations.</p> <h2 class="wp-block-heading">Regulatory Compliance and Global Expansion</h2> <p>On the compliance front, Bridge holds licenses in 48 U.S. states and has a VASP (Virtual Asset Service Provider) license in Poland. The company is in the process of applying for additional licenses in New York, Europe, and other regions.</p> <p>In areas where Bridge is not yet fully compliant, it partners with local entities like Bitso to expand its reach, especially in regions such as Latin America for B2B payments.</p> <h2 class="wp-block-heading">Future Outlook</h2> <p>As Bridge continues to grow, the question remains: Can it lead a transformation in the stablecoin payments sector? Will it facilitate new flows of <a href="https://coindarwin.com/information/press-release/stablecoins-the-trojan-horse-of-the-crypto-industry/" target="_blank" rel="noopener" title="Stablecoins: The Trojan Horse of the Crypto Industry">stablecoins</a> and fiat currencies across the globe, especially in regions like Africa?</p> <p>Only time will tell, but Bridge’s innovative solutions have already positioned it as a key player in the space, and its potential impact on global payments will be closely watched.</p><p>The post <a href="https://coindarwin.com/information/press-release/what-is-bridge-the-platform-stripe-acquired-for-1-1-billion/">What is Bridge, the Platform Stripe Acquired for $1.1 Billion?</a> first appeared on <a href="https://coindarwin.com">CoinDarwin</a>.</p>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">392244</post-id> </item> <item> <title>20 Lessons for Crypto Founders: Start with Small Problems</title> <link>https://coindarwin.com/information/press-release/20-lessons-for-crypto-founders-start-with-small-problems/</link> <dc:creator><![CDATA[cd]]></dc:creator> <pubDate>Mon, 21 Oct 2024 03:31:55 +0000</pubDate> <category><![CDATA[Press Release]]></category> <guid isPermaLink="false">https://coindarwin.com/?p=392169</guid> <description><![CDATA[<p>Start with Small Problems Instead of targeting a massive market from the outset, focus on solving a specific, smaller problem. This approach often contrasts with VC advice, which tends to emphasize large market opportunities. By concentrating on issues faced by a smaller user group, you can gain firsthand experience with the challenges they encounter while …</p><p>The post <a href="https://coindarwin.com/information/press-release/20-lessons-for-crypto-founders-start-with-small-problems/">20 Lessons for Crypto Founders: Start with Small Problems</a> first appeared on <a href="https://coindarwin.com">CoinDarwin</a>.</p>]]></description> <content:encoded><![CDATA[<h2 class="wp-block-heading">Start with Small Problems</h2> <p>Instead of targeting a massive market from the outset, focus on solving a specific, smaller problem. This approach often contrasts with VC advice, which tends to emphasize large market opportunities. By concentrating on issues faced by a smaller user group, you can gain firsthand experience with the challenges they encounter while using crypto products. Engage with various new products to understand daily user pain points and identify actionable problems that truly need addressing.</p> <h2 class="wp-block-heading">Avoid Consensus</h2> <p>Steer clear of chasing ideas that are widely regarded as the next big trend. When a concept becomes mainstream, the market is often saturated. For instance, <a href="https://coindarwin.com/reviews/web3/polymarket-review-the-26-year-old-founder-and-a-1-billion-prediction-market/" target="_blank" rel="noopener" title="Polymarket Review: The 26-Year-Old Founder and a $1 Billion Prediction Market">Polymarket</a> demonstrated the potential of prediction markets, but now many teams are competing in that space. The best time to innovate is when only a few players are active. Focus on less explored areas to create unique value propositions with ample room for experimentation.</p> <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="819" src="https://coindarwin.com/wp-content/uploads/2024/10/Avoid_Consensus_Idea-coindarwin-1024x819.webp" alt="" class="wp-image-392170" srcset="https://coindarwin.com/wp-content/uploads/2024/10/Avoid_Consensus_Idea-coindarwin-1024x819.webp 1024w, https://coindarwin.com/wp-content/uploads/2024/10/Avoid_Consensus_Idea-coindarwin-300x240.webp 300w, https://coindarwin.com/wp-content/uploads/2024/10/Avoid_Consensus_Idea-coindarwin-768x614.webp 768w, https://coindarwin.com/wp-content/uploads/2024/10/Avoid_Consensus_Idea-coindarwin-150x120.webp 150w, https://coindarwin.com/wp-content/uploads/2024/10/Avoid_Consensus_Idea-coindarwin.webp 1215w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure> <h2 class="wp-block-heading">Build for a Small Core Group</h2> <p>Identify a small group of enthusiastic early adopters—around 25 to 50 users—who are genuinely invested in the problem you’re solving. By prioritizing their needs, you can build a strong foundation and foster real supporters. Their feedback will be invaluable for rapid iterations and improvements, allowing your user base to grow organically through recommendations.</p> <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="572" src="https://coindarwin.com/wp-content/uploads/2024/10/Build_for_a_Small_Core_Group-coindarwin-1024x572.webp" alt="" class="wp-image-392188" srcset="https://coindarwin.com/wp-content/uploads/2024/10/Build_for_a_Small_Core_Group-coindarwin-1024x572.webp 1024w, https://coindarwin.com/wp-content/uploads/2024/10/Build_for_a_Small_Core_Group-coindarwin-300x168.webp 300w, https://coindarwin.com/wp-content/uploads/2024/10/Build_for_a_Small_Core_Group-coindarwin-768x429.webp 768w, https://coindarwin.com/wp-content/uploads/2024/10/Build_for_a_Small_Core_Group-coindarwin-150x84.webp 150w, https://coindarwin.com/wp-content/uploads/2024/10/Build_for_a_Small_Core_Group-coindarwin.webp 1080w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure> <h2 class="wp-block-heading">Validate Your Hypotheses with an MVP</h2> <p>Before investing significant resources, use a Minimum Viable Product (MVP) to test your core hypotheses. This simplified version should address the primary pain point you’ve identified, providing enough insight to decide whether to double down or pivot. An MVP allows for quicker user feedback and can reveal unexpected insights, helping you stay ahead of competitors.</p> <h2 class="wp-block-heading">Launch Your Idea Within 30 Days</h2> <p>Timeliness is crucial. Aim to develop and launch your MVP within 30 days to harness the momentum of your idea and start gathering user data promptly. This rapid deployment compels you to focus on essential features and avoid the pitfalls of over-planning.</p> <h2 class="wp-block-heading">Do Non-Scalable Things</h2> <p>In the early stages, personalized interactions are more important than building a full product. Engage directly with users, handle customer support personally, and manually execute processes that you’ll automate later. These non-scalable efforts will help you form strong relationships with early users and deepen your understanding of their needs.</p> <figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="810" height="810" src="https://coindarwin.com/wp-content/uploads/2024/10/Do_Non-Scalable_Things-coindarwin.webp" alt="" class="wp-image-392206" srcset="https://coindarwin.com/wp-content/uploads/2024/10/Do_Non-Scalable_Things-coindarwin.webp 810w, https://coindarwin.com/wp-content/uploads/2024/10/Do_Non-Scalable_Things-coindarwin-300x300.webp 300w, https://coindarwin.com/wp-content/uploads/2024/10/Do_Non-Scalable_Things-coindarwin-150x150.webp 150w, https://coindarwin.com/wp-content/uploads/2024/10/Do_Non-Scalable_Things-coindarwin-768x768.webp 768w, https://coindarwin.com/wp-content/uploads/2024/10/Do_Non-Scalable_Things-coindarwin-96x96.webp 96w" sizes="(max-width: 810px) 100vw, 810px" /></figure> <h2 class="wp-block-heading">Avoid Overbuilding; Use Existing Tools</h2> <p>Refrain from starting from scratch. For crypto entrepreneurs, leveraging existing products is often more effective than creating core infrastructure. For example, use established automated market makers (AMMs) like Uniswap instead of developing your own. This approach saves resources and allows you to refine your core offering.</p> <h2 class="wp-block-heading">Recruit Users One by One</h2> <p>When building your initial user base, personalized outreach is key. Contact potential users individually through email, social media, or forums. This method allows for meaningful interactions and precise feedback about your product.</p> <h2 class="wp-block-heading">Continuously Seek Feedback and Iterate</h2> <p>Maintain ongoing conversations with your users. Regular feedback can provide insights you might not have considered, allowing you to iteratively improve your product to meet evolving user needs.</p> <h2 class="wp-block-heading">Interpret Feedback Judiciously</h2> <p>While user feedback is essential, be cautious in how you interpret it. Users may struggle to articulate their needs or suggest ideas that diverge from your product vision. Use your judgment to discern underlying issues and address them in line with your product direction.</p> <h2 class="wp-block-heading">Achieve Stability with 50 to 100 Daily Active Users</h2> <p>Aim for steady growth in daily active users (DAU), targeting an initial range of 50 to 100. This level of engagement indicates that your product is gaining traction and becoming part of users’ daily routines. Monitor retention and engagement metrics to build sustainable growth.</p> <h2 class="wp-block-heading">Refine Your Business Model</h2> <p>Once you have a stable user base, focus on profitability. Develop a clear business model that outlines how your startup will generate revenue, whether through transaction fees, premium features, or token sales. A well-defined model is crucial for attracting investors and ensuring long-term viability.</p> <h2 class="wp-block-heading">Dive Deep into Data for Growth Insights</h2> <p>Data is your ally. Analyze it to understand what drives user acquisition, engagement, and retention. Identify key performance indicators (KPIs) that align with your business objectives and use this information to make informed decisions about marketing strategies and product features.</p> <h2 class="wp-block-heading">Be Persistent: Reach Out Through Various Channels</h2> <p>Persistence pays off. Don’t hesitate to contact potential users, partners, or investors multiple times. Use a mix of email, direct messaging, group chats, and social media to broaden your reach. Networking and promotion are essential for entrepreneurial success.</p> <h2 class="wp-block-heading">Celebrate Small Wins and Take Breaks</h2> <p>Every milestone, no matter how small, deserves recognition. Celebrating achievements, whether launching a new feature or hitting a user benchmark, boosts team morale. Additionally, taking breaks helps prevent burnout and maintains long-term productivity.</p> <h2 class="wp-block-heading">Work Hard</h2> <p>There’s no substitute for hard work. Building a successful startup requires dedication, long hours, and a willingness to go the extra mile. Consider how much time you’d be willing to invest compared to your competitors; this mindset can inspire smarter, more effective work.</p> <h2 class="wp-block-heading">Protect Your Equity</h2> <p>Be cautious with equity distribution in the early stages. While it may be tempting to offer large shares for funding or talent, retaining control is essential for shaping your company’s future. Explore alternative incentives and negotiate terms that align with your long-term vision.</p> <h2 class="wp-block-heading">Small Financing Teaches Resourcefulness</h2> <p>Securing moderate funding forces you to prioritize core issues and learn to manage resources efficiently. In the early stages, aim to raise between $500,000 and $1 million. A streamlined budget encourages creative solutions and builds a more sustainable business model.</p> <h2 class="wp-block-heading">Embrace Frugality</h2> <p>Adopt a frugal mindset in all aspects of your startup. Review every expense, avoid unnecessary operational costs, and focus funds on areas that directly contribute to growth. Frugality extends your runway and provides flexibility in facing unexpected challenges.</p> <h2 class="wp-block-heading">Keep Your Team Lean</h2> <p>Be deliberate about team expansion. Each new hire should fill a critical role that directly impacts your company’s success. A lean team is more agile, easier to manage, and less susceptible to the complexities that large startups face. Maintaining a small team helps you quickly pivot and preserve a strong company culture.</p><p>The post <a href="https://coindarwin.com/information/press-release/20-lessons-for-crypto-founders-start-with-small-problems/">20 Lessons for Crypto Founders: Start with Small Problems</a> first appeared on <a href="https://coindarwin.com">CoinDarwin</a>.</p>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">392169</post-id> </item> <item> <title>Bitcoin Millionaires Surge by 111%, Approaching 90,000</title> <link>https://coindarwin.com/news/bitcoin-millionaires-surge-by-111-approaching-90000/</link> <dc:creator><![CDATA[cd]]></dc:creator> <pubDate>Sun, 20 Oct 2024 02:41:23 +0000</pubDate> <category><![CDATA[News]]></category> <guid isPermaLink="false">https://coindarwin.com/?p=392005</guid> <description><![CDATA[<p>From 2023 to 2024, the number of Bitcoin (BTC) millionaires skyrocketed by nearly 111%, reaching a total of 85,400 individuals by 2024.</p><p>The post <a href="https://coindarwin.com/news/bitcoin-millionaires-surge-by-111-approaching-90000/">Bitcoin Millionaires Surge by 111%, Approaching 90,000</a> first appeared on <a href="https://coindarwin.com">CoinDarwin</a>.</p>]]></description> <content:encoded><![CDATA[<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://coindarwin.com/wp-content/uploads/2024/10/Bitcoin_millionaire-coindarwin-1024x576.webp" alt="Bitcoin millionaire" class="wp-image-392006" srcset="https://coindarwin.com/wp-content/uploads/2024/10/Bitcoin_millionaire-coindarwin-1024x576.webp 1024w, https://coindarwin.com/wp-content/uploads/2024/10/Bitcoin_millionaire-coindarwin-300x169.webp 300w, https://coindarwin.com/wp-content/uploads/2024/10/Bitcoin_millionaire-coindarwin-768x432.webp 768w, https://coindarwin.com/wp-content/uploads/2024/10/Bitcoin_millionaire-coindarwin-390x220.webp 390w, https://coindarwin.com/wp-content/uploads/2024/10/Bitcoin_millionaire-coindarwin-150x84.webp 150w, https://coindarwin.com/wp-content/uploads/2024/10/Bitcoin_millionaire-coindarwin.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure> <p>From 2023 to 2024, the number of <a href="https://coindarwin.com/academy/investor-guide/is-bitcoin-still-a-good-store-of-value/" target="_blank" rel="noopener" title="Is Bitcoin Still a Good Store of Value?">Bitcoin</a> (BTC) millionaires skyrocketed by nearly 111%, reaching a total of 85,400 individuals by 2024, which represents 49.6% of all crypto asset millionaires.</p> <p>According to Henley and Partners’ “2024 Crypto Assets Wealth Report,” five of the six new billionaires this year credited their success to BTC. Since 2023, the global count of individuals holding at least $1 million in crypto assets has surged by 95%, totaling 172,300.</p> <p>BTC millionaires now constitute nearly 50% of the global crypto millionaire population, reflecting a growth of over 111% compared to the previous year. Among the new billionaires, five built their fortunes through BTC, bringing the total number of BTC billionaires to 28, underscoring its prominence in the digital landscape.</p> <p>As more investors recognize the substantial profits BTC can generate, its appeal as a lucrative investment option has intensified. For instance, in the United States, the approval of 11 spot BTC ETFs has significantly boosted BTC adoption.</p> <p>The increase in BTC millionaires may also be linked to regulatory changes worldwide that encourage greater participation and investment in the crypto asset market. Recent data reveals that investments in these ETFs have approached $20 million, with many investors favoring regulated funds over traditional exchanges.</p> <p>Countries like Singapore and the United Arab Emirates (UAE) have similarly fostered crypto asset usage through open policies. The UAE has eliminated capital gains tax and allows Dubai residents to trade crypto assets directly via bank accounts. Meanwhile, Singapore has taken bold steps in regulating digital assets, introducing new asset custody guidelines and revising the Payment Services Act to enhance its framework for digital payments.</p> <p>Moreover, several international regions have emerged as key hubs for crypto asset research and investment. Caribbean nations such as Antigua, Barbuda, Saint Kitts, and Nevis have proposed progressive legislation to attract digital asset entrepreneurs, diversifying the landscape of crypto-friendly jurisdictions.</p> <p>Switzerland’s “Crypto Valley” in Zug exemplifies this trend, showcasing a robust blockchain ecosystem that actively promotes the development of digital assets.</p><p>The post <a href="https://coindarwin.com/news/bitcoin-millionaires-surge-by-111-approaching-90000/">Bitcoin Millionaires Surge by 111%, Approaching 90,000</a> first appeared on <a href="https://coindarwin.com">CoinDarwin</a>.</p>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">392005</post-id> </item> <item> <title>Major Updates Announced by Worldcoin: The Mystery of WLD Token Empowerment Continues</title> <link>https://coindarwin.com/news/major-updates-announced-by-worldcoin-the-mystery-of-wld-token-empowerment-continues/</link> <dc:creator><![CDATA[cd]]></dc:creator> <pubDate>Sat, 19 Oct 2024 07:22:51 +0000</pubDate> <category><![CDATA[News]]></category> <guid isPermaLink="false">https://coindarwin.com/?p=387287</guid> <description><![CDATA[<p>Worldcoin founders Alex Blania and Sam Altman unveiled the project's rebranding as World Network, alongside significant updates including the new Orb.</p><p>The post <a href="https://coindarwin.com/news/major-updates-announced-by-worldcoin-the-mystery-of-wld-token-empowerment-continues/">Major Updates Announced by Worldcoin: The Mystery of WLD Token Empowerment Continues</a> first appeared on <a href="https://coindarwin.com">CoinDarwin</a>.</p>]]></description> <content:encoded><![CDATA[<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://coindarwin.com/wp-content/uploads/2024/10/worldcoin-coindarwin-1024x576.webp" alt="Worldcoin" class="wp-image-387307" srcset="https://coindarwin.com/wp-content/uploads/2024/10/worldcoin-coindarwin-1024x576.webp 1024w, https://coindarwin.com/wp-content/uploads/2024/10/worldcoin-coindarwin-300x169.webp 300w, https://coindarwin.com/wp-content/uploads/2024/10/worldcoin-coindarwin-768x432.webp 768w, https://coindarwin.com/wp-content/uploads/2024/10/worldcoin-coindarwin-390x220.webp 390w, https://coindarwin.com/wp-content/uploads/2024/10/worldcoin-coindarwin-150x84.webp 150w, https://coindarwin.com/wp-content/uploads/2024/10/worldcoin-coindarwin.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure> <p>In a recent live stream, Worldcoin founders <a href="https://x.com/alexblania" target="_blank" rel="noopener nofollow" title="Alex Blania">Alex Blania</a> and Sam Altman unveiled the project’s rebranding as World Network, alongside significant updates including the new Orb, a new verification method, World ID 3.0, World App 3.0, and the launch of World Chain. The initiative aims to create a network composed of real, verified individuals to support further advancements in AI, with World Chain, World ID, and Worldcoin serving as its three main pillars.</p> <p>During the stream, the price of the WLD token fluctuated considerably. Prior to the announcement, WLD peaked at 2.3 USDT but dropped to 2.08 USDT during the broadcast, a nearly 10% decline. As of this writing, the price has rebounded to 2.2 USDT, indicating that the official updates did not significantly boost the token’s value.</p> <h2 class="wp-block-heading">Worldcoin Updates</h2> <p>On September 30, <a href="https://coindarwin.com/markets/price-prediction/worldcoin-price-prediction-2024-2025-when-will-wld-reach-100/" target="_blank" rel="noopener" title="Worldcoin Price Prediction 2024, 2025: When Will WLD Reach $100?">Worldcoin</a> announced the live stream on X, using the tagline “Building AI on human terms takes all of us.” The market speculated that the updates would involve a collaboration with OpenAI to incentivize user participation in AI development, thus empowering the WLD token. However, expectations were not met.</p> <p>Despite this, the live stream highlighted several notable features. For instance, World App 3.0 introduced Mini Apps and World Chain launched with Verified Passport as a new verification channel, marking a significant step in lowering entry barriers.</p> <h3 class="wp-block-heading">World App 3.0: A New Mini App Hub</h3> <p>Previously, World App functioned primarily as a wallet, but the new Mini Apps feature allows developers to create applications similar to those on Telegram or WeChat, enhancing the user experience. The integration of World ID ensures that app owners are verified humans, contrasting sharply with the many fake accounts prevalent on Telegram.</p> <p>Mini Apps will enable third-party applications to run within World App, allowing deep anonymous integration with users’ World IDs, wallets, and contacts. These applications are optimized for real users, enabling functionalities like chatting, transferring funds, recharging mobile balances with digital assets, and conducting human-only votes and games.</p> <p>Developers can easily create and publish Mini Apps using a customizable SDK, broadening the platform’s ecosystem.</p> <p>Additionally, World App 3.0 boasts improved wallet functions:</p> <ul class="wp-block-list"><li><strong>Speed Enhancement</strong>: Transaction speeds have increased by up to 90% with World Chain support.</li> <li><strong>New Features</strong>: Including World Pay (global free payments), convenient funding channels, a new asset yield Vault, and improved community connectivity.</li></ul> <p>World App 3.0 also supports storing World ID credentials, allowing users to keep NFC passport information on their devices. This facilitates age, nationality, and passport validation without revealing true identities.</p> <p>Extra features include:</p> <ul class="wp-block-list"><li><strong>WLD Token Distribution</strong>: Verified Passport holders can apply for WLD tokens before fully passing the Orb verification.</li> <li><strong>Deep Face Recognition</strong>: Coming this fall, this feature will help users verify real identities in live videos or chats to combat deepfake threats.</li> <li><strong>Simplified Connections</strong>: New usernames and contact tags enhance community interaction.</li></ul> <h3 class="wp-block-heading">World ID 3.0</h3> <p>World ID 3.0 introduces new functionalities based on its “proof of humanity” protocol, enhancing privacy, security, and scalability. It also facilitates quicker expansion of the World Network by allowing more users who have not yet verified via Orb to obtain World ID credentials.</p> <p>In the U.S., Malaysia, and the U.K., World ID holders can store NFC passport information within the World App, ensuring all data remains on their devices without external access. This allows users to validate their age, nationality, and passport uniqueness without disclosing their identities.</p> <p>World ID 3.0 also combats online fraud with the new World ID Deep Face feature, which verifies real communication between users using Orb imaging and facial recognition, protecting against deepfake threats.</p> <h3 class="wp-block-heading">Core Features of World Chain: Priority Block Space and Gas-Free Transactions</h3> <p>World Chain, initially mentioned in April, was created to address the significant transaction volume from Worldcoin users, which at times accounted for 44% of OP Mainnet transactions. The chain is built on OP Stack, integrating World ID to provide priority block space and gas-free transactions for verified human users, aiming to support a digital identity and financial network for over a billion unique identities.</p> <p>Key features of World Chain include:</p> <ul class="wp-block-list"><li><strong>Gas-Free Transactions</strong>: Verified users will not pay gas fees, with initial funding support from the Worldcoin Foundation.</li> <li><strong>Priority Block Space</strong>: Transactions from verified users are prioritized, reducing the risk of MEV attacks.</li> <li><strong>Native Mobile Distribution</strong>: Mini Apps allow direct access to applications within the World App.</li></ul> <p>However, the specifics of how the WLD token will function within World Chain remain unclear, and further details from the official team are expected.</p> <h2 class="wp-block-heading">Uncertain Empowerment for WLD Tokens</h2> <p>Currently, Worldcoin faces challenges related to insufficient demand for the WLD token, as the practical use cases remain unclear. While the launch of World App 3.0 and World Chain offers enhanced functionality and trading experiences, a lack of effective integration of the WLD token with these features may dampen user engagement. Without clear incentive mechanisms and use cases, investor confidence and token value may fluctuate.</p> <p>The primary hope for Worldcoin stems from its connection to AI leader OpenAI, helmed by co-founder Sam Altman. However, the relationship between the two is not clearly defined at this stage.</p> <p>To achieve its vision, Worldcoin needs to provide more information on how to empower and incentivize the WLD token, thereby boosting user confidence and demand. Sustainable growth and stable token value can only be realized when the value of the WLD token is effectively tied to the core functionalities of the World Network.</p><p>The post <a href="https://coindarwin.com/news/major-updates-announced-by-worldcoin-the-mystery-of-wld-token-empowerment-continues/">Major Updates Announced by Worldcoin: The Mystery of WLD Token Empowerment Continues</a> first appeared on <a href="https://coindarwin.com">CoinDarwin</a>.</p>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">387287</post-id> </item> <item> <title>Bella Protocol: The New DeFi Experience in the Age of AI</title> <link>https://coindarwin.com/information/sponsored/bella-protocol-the-new-defi-experience-in-the-age-of-ai/</link> <dc:creator><![CDATA[cd]]></dc:creator> <pubDate>Fri, 18 Oct 2024 08:13:43 +0000</pubDate> <category><![CDATA[Sponsored]]></category> <guid isPermaLink="false">https://coindarwin.com/?p=384659</guid> <description><![CDATA[<p>Bella Protocol has made a name for itself in the DeFi sector with innovative products designed to streamline user experience and optimize yields.</p><p>The post <a href="https://coindarwin.com/information/sponsored/bella-protocol-the-new-defi-experience-in-the-age-of-ai/">Bella Protocol: The New DeFi Experience in the Age of AI</a> first appeared on <a href="https://coindarwin.com">CoinDarwin</a>.</p>]]></description> <content:encoded><![CDATA[<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://coindarwin.com/wp-content/uploads/2024/10/cd_bella-protocol-coindarwin-1024x576.webp" alt="Bella Protocol" class="wp-image-384755" srcset="https://coindarwin.com/wp-content/uploads/2024/10/cd_bella-protocol-coindarwin-1024x576.webp 1024w, https://coindarwin.com/wp-content/uploads/2024/10/cd_bella-protocol-coindarwin-300x169.webp 300w, https://coindarwin.com/wp-content/uploads/2024/10/cd_bella-protocol-coindarwin-768x432.webp 768w, https://coindarwin.com/wp-content/uploads/2024/10/cd_bella-protocol-coindarwin-390x220.webp 390w, https://coindarwin.com/wp-content/uploads/2024/10/cd_bella-protocol-coindarwin-150x84.webp 150w, https://coindarwin.com/wp-content/uploads/2024/10/cd_bella-protocol-coindarwin.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure> <h2 class="wp-block-heading">Exploring the AI Evolution of Bella Protocol</h2> <p>In recent years, the global cryptocurrency market, particularly in the DeFi space, has surged with the emergence of various <a href="https://coindarwin.com/academy/investor-guide/50-dyor-tools-to-level-up-from-beginner-to-alpha/" target="_blank" rel="noopener" title="50 DYOR Tools to Level Up from Beginner to Alpha">DeFi tools</a>. However, this rapid expansion has brought numerous challenges, including complex data, information asymmetry, and intricate trading operations. These issues not only deter new investors but also create headaches for seasoned ones, significantly increasing decision-making costs. Against this backdrop, there is a pressing need for solutions that simplify complexity while providing precise guidance. Bella Protocol has identified this demand and aims to revolutionize the landscape with the power of AI.</p> <p><a href="https://www.bella.fi/" target="_blank" rel="noopener nofollow" title="Bella Protocol">Bella Protocol</a> has made a name for itself in the DeFi sector with innovative products designed to streamline user experience and optimize yields. From its initial offerings like Flex Savings and Tuner to LP Farm, Bella has provided efficient auto-compounding yield aggregation and advanced quantitative analysis tools for liquidity providers on decentralized exchanges (DEXs) such as Curve and Uniswap. However, as the market rapidly evolves, Bella recognized that traditional tools alone could no longer meet users’ demands for efficient, intelligent trading.</p> <p>Thus, Bella embarked on a new journey integrating AI technology to create a smart, automated crypto asset management platform. By leveraging advanced AI, Bella aims to lower the entry barrier, allowing every investor to easily participate in the DeFi market and enjoy the benefits of intelligent trading.</p> <h2 class="wp-block-heading">Collaboration with Top Investors and Strategic Partners</h2> <p>With support from leading investors like Binance Labs, Arrington Capital, and DWF Labs, Bella is accelerating product innovation and market expansion. These partnerships not only provide financial backing but also bring deep industry insights and resource integration, enabling Bella to maintain a competitive edge in a fierce market.</p> <p>Earlier this year, Bella Protocol established a significant partnership with Phoenix, utilizing Phoenix’s AI computing layers—SkyNet, AlphaNet, and Hypermatrix—to develop tailored AI-driven DeFi functionalities. This collaboration has transformed Bella’s product suite, enhancing user value. Leveraging Phoenix’s robust decentralized AI infrastructure, Bella successfully completed the first phase of its AI transformation in just a few months, launching the Bella Signal Bot.</p> <p>Upcoming innovations include the Bella LLM Research Bot, based on PhoenixLLM’s specialized knowledge embedding and customized infrastructure. Phoenix’s transformative AI infrastructure provides substantial value to Bella’s AI ecosystem partners, setting a precedent in the Web3 industry. The integration of these technologies significantly boosts Bella’s product capabilities, making its AI tools stand out in the market.</p> <h2 class="wp-block-heading">Bella Signal Bot: Your AI Trading Partner</h2> <p>As part of this AI transformation, Bella introduced its flagship product, the Bella Signal Bot. This intelligent trading assistant combines AI technology with trading strategies, designed for investors seeking efficient and precise trading experiences. It integrates five AI models to generate accurate trading signals and features risk management, personalized strategy configuration, real-time communication, and continuous learning capabilities. The goal is to provide users with real-time, precise trading signals, enabling them to navigate complex markets effectively.</p> <h3 class="wp-block-heading">Core Features of the Bot:</h3> <ol class="wp-block-list"><li><strong>Intelligent Signal Generation</strong><br>The Bella Signal Bot relies on five AI models—KnightML, ViperAI, AI Directional Risk, AI MeanRev, and OptimaShort—to extract key information from vast market data and generate real-time trading signals. These signals help users identify bullish and bearish opportunities, facilitating more accurate trading decisions. Each model has its strengths; for instance, KnightML excels in capturing short-term market fluctuations, while ViperAI performs exceptionally well in recognizing long-term trends. By combining outputs from these models, the Bot provides multi-dimensional trading reference factors, helping users find optimal investment timings. Compared to traditional DeFi tools, these AI-generated signals are not only faster but also more accurate.</li> <li><strong>Risk Management</strong><br>Effective risk management is crucial for trading success. The Bot employs machine learning to predict market risks and offers an automatic stop-loss mechanism. This feature helps users protect their assets from significant fluctuations during adverse market movements. With intelligent risk management, users can flexibly adjust trading frequency and exposure according to their risk preferences, ensuring asset safety and steady growth.</li> <li><strong>Personalized Strategies</strong><br>To cater to diverse investor risk profiles and trading styles, each AI model within the Bot has unique trading frequency and exposure settings. For instance, the KnightML model is known for its flexible configuration, allowing users to tailor trading frequency and risk exposure to meet their individual needs. This high degree of customization enhances the Bot’s ability to adapt to different investor requirements, improving trading efficiency and returns.</li> <li><strong>Enhanced User Experience</strong><br>To improve user experience, Bella uses Telegram as the real-time communication platform for delivering trading signals instantly. This ensures users can respond swiftly to market changes. This communication method not only boosts the efficiency of information acquisition but also enhances the interaction between users and the Bot, making the trading process smoother and more convenient.</li> <li><strong>Continuous Learning Mechanism</strong><br>The Bot incorporates a continuous learning mechanism that enables it to absorb new market data and trading experiences, optimizing prediction models and risk management. This self-evolving capability ensures the Bot remains at the forefront of the industry, providing users with more accurate and reliable trading signals. Through continuous learning, the Bot can adapt to market changes, delivering greater value to users.</li></ol> <p>With features like intelligent signal generation, risk management, personalized strategies, enhanced user experience, and a continuous learning mechanism, Bella Signal Bot stands as an ideal choice for investors seeking an efficient trading experience. This AI-powered product innovation simplifies crypto asset management processes and helps both seasoned professionals and new investors find suitable trading opportunities in varying market conditions.</p> <p>This innovation has garnered recognition from experienced practitioners and institutional investors in the DeFi space, who believe that AI signal generation tools have the potential to significantly enhance market liquidity and trading efficiency, bringing new growth points to the DeFi sector.</p> <h2 class="wp-block-heading">“Ease of Use” as a Key Differentiator</h2> <p>Nansen, a well-known on-chain data analytics platform, focuses on analyzing market trends, asset liquidity, and trading behavior. While its data coverage is extensive and updates rapidly, it still requires users to possess certain expertise and analytical skills to translate that data into specific trading signals and personalized strategies. Additionally, Nansen’s user interface can be complex for non-experts, making effective trading decisions more challenging.</p> <p>In contrast, Bella Signal Bot combines five AI models with market trends and historical data for in-depth analysis. This approach not only enhances the accuracy of market signals but also offers users more flexible trading strategy options. Furthermore, Bella has access to a vast dataset and advanced data processing technology, enabling it to provide comprehensive insights into trading behaviors and market dynamics through in-depth analysis. By employing machine learning algorithms and big data analytics, the platform can forecast market trends and identify potential trading opportunities and risk points in advance.</p> <p>Imagine this: when market fluctuations occur, the Bella Signal Bot will promptly issue trading signals, helping you seize profit opportunities. You no longer need to constantly monitor the market or worry about missing critical information. With Bella Signal Bot, trading becomes remarkably easy and efficient.</p> <p>As the competitive landscape combining DeFi and AI intensifies, more projects are entering the field, striving to capture market share through technological innovation and user experience enhancement. However, due to high technical barriers and complex market demands, only a few products stand out. Despite the fierce competition, the demand for AI tools like Bella remains strong.</p> <p>As investors deepen their understanding of the DeFi market and increase their expectations regarding trading efficiency and risk management, there is a growing need for a smart trading assistant capable of providing precise trading signals, personalized strategies, and risk management functionalities. Therefore, AI tools with these capabilities, like Bella, have a broad development outlook in the market.</p> <h2 class="wp-block-heading">Future Development Path: Infinite Possibilities of AI Empowering DeFi</h2> <p>Bella’s AI transformation is not limited to its current Signal Bot product; it plans to roll out more AI tools to expand its functionalities further. The upcoming LLM Research Bot represents a significant milestone in this roadmap. Utilizing large language model (LLM) technology, it will analyze vast amounts of market data and generate detailed market research reports for users. These reports will not only cover current market dynamics but also identify potential investment opportunities and market risks. Key features of the LLM Research Bot include:</p> <ol class="wp-block-list"><li><strong>Research Report Generation</strong>: The Bot will automatically generate comprehensive research reports using machine learning and natural language processing, covering market trends, investment strategies, and potential risks. Unlike other tools, this report will provide both quantitative analysis and easily understandable qualitative insights, offering investors a more holistic understanding of the market.</li> <li><strong>Data Insights</strong>: Leveraging its data processing and analysis capabilities, the Bot will provide real-time market insights. Users can quickly grasp market changes through these insights, capturing potential trading opportunities and gaining an advantage in the rapidly shifting crypto market.</li> <li><strong>Customized Asset Analysis</strong>: The Bot will offer tailored asset management recommendations based on individual user preferences and investment styles. It can analyze users’ portfolios in depth and suggest targeted optimization strategies to help achieve both risk control and maximum returns.</li> <li><strong>Interactive User Experience</strong>: With an interactive user interface, users can engage in natural language conversations with the tool, asking questions about market trends, trading strategies, and risk assessments. This intuitive interaction allows users to better understand complex market information and customize trading strategies based on their needs.</li></ol> <p>Bella’s future product roadmap indicates a commitment to integrating AI-driven innovations not only within DeFi tools but also across more application scenarios, including portfolio optimization and automated risk management. The continuous launch of these tools is expected to solidify its leadership position in the AI-driven DeFi market.</p> <h2 class="wp-block-heading">Conclusion</h2> <p>By incorporating AI technology, Bella has successfully carved out a new development path in the competitive DeFi market. The launch of the Bella Signal Bot has simplified the complex processes of crypto asset management while providing users with more precise and intelligent trading tools through AI. As more AI tools are introduced, Bella’s market position is poised for further enhancement, bringing innovative solutions to the DeFi landscape.</p> <p>With strong support from investors and strategic partnerships, Bella is leading a revolution in DeFi in the age of AI. Moving forward, continuous innovation and expanding its user base will be crucial for Bella to maintain its competitive edge. We look forward to seeing Bella Protocol achieve even more remarkable accomplishments on the path of integrating AI with DeFi.</p><p>The post <a href="https://coindarwin.com/information/sponsored/bella-protocol-the-new-defi-experience-in-the-age-of-ai/">Bella Protocol: The New DeFi Experience in the Age of AI</a> first appeared on <a href="https://coindarwin.com">CoinDarwin</a>.</p>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">384659</post-id> </item> <item> <title>From Versions to Impact: How UNI Shaped Blockchain</title> <link>https://coindarwin.com/reviews/decentralized-exchange/from-versions-to-impact-how-uni-shaped-blockchain/</link> <dc:creator><![CDATA[cd]]></dc:creator> <pubDate>Fri, 18 Oct 2024 03:32:44 +0000</pubDate> <category><![CDATA[Decentralized Exchange]]></category> <guid isPermaLink="false">https://coindarwin.com/?p=384046</guid> <description><![CDATA[<p>From V1 to V4, from UNI X to UNIChain, how far is UNI from the ultimate answer to DEX?</p><p>The post <a href="https://coindarwin.com/reviews/decentralized-exchange/from-versions-to-impact-how-uni-shaped-blockchain/">From Versions to Impact: How UNI Shaped Blockchain</a> first appeared on <a href="https://coindarwin.com">CoinDarwin</a>.</p>]]></description> <content:encoded><![CDATA[<div class="wp-block-image"><figure class="aligncenter size-full"><img loading="lazy" decoding="async" width="715" height="434" src="https://coindarwin.com/wp-content/uploads/2024/10/uniswap_overview-coindarwin.webp" alt="How UNI Shaped Blockchain" class="wp-image-384155" srcset="https://coindarwin.com/wp-content/uploads/2024/10/uniswap_overview-coindarwin.webp 715w, https://coindarwin.com/wp-content/uploads/2024/10/uniswap_overview-coindarwin-300x182.webp 300w, https://coindarwin.com/wp-content/uploads/2024/10/uniswap_overview-coindarwin-150x91.webp 150w" sizes="(max-width: 715px) 100vw, 715px" /></figure></div> <p>In the realm of Web3, three pivotal moments stand out: the inception of Bitcoin that introduced decentralized blockchain systems, Ethereum’s smart contracts that expanded blockchain’s potential beyond payments, and UNI’s democratization of financial privileges, heralding the golden age of blockchain.</p> <p>As we explore the evolution from UNI V1 to V4, and the introduction of UNIChain, we ask: how far is UNI from being the ultimate solution for DEXs?</p> <h2 class="wp-block-heading">UNI V1: Prelude to the Golden Age</h2> <p>Before UNI, decentralized exchanges (DEXs) existed, but none truly defined the genre until UNI emerged. Many attribute UNI’s success to its simplicity, security, and privacy. However, its uniqueness lies not just in these attributes but in its embodiment of the DeFi ethos. Unlike Bancor, an early contender, UNI was the first DEX to meet the defining characteristics of decentralized finance. While Bancor offered AMM functionalities, it remained tethered to centralized control, requiring permission for token listings and imposing fees.</p> <p>Early versions of UNI had their shortcomings: high volatility, gas costs, and lack of sophisticated features made it less user-friendly. Yet, it marked a historic shift—democratizing finance by removing listing barriers and enabling community-driven liquidity sources. This laid the groundwork for the widespread popularity of meme tokens and allowed projects without elite backing to thrive.</p> <h2 class="wp-block-heading">UNI V2: The DeFi Summer</h2> <p>Launched in May 2020, UNI V2 focused on addressing the limitations of its predecessor, particularly around price manipulation and token swaps. By implementing block-end price determination and time-weighted average pricing (TWAP), UNI significantly enhanced its resilience against attacks.</p> <p>The rise of yield farming, ignited by Compound Finance’s COMP token launch in June 2020, created a rush of liquidity into the DeFi ecosystem. UNI V2 became the go-to platform for liquidity miners, reaching a peak Total Value Locked (TVL) of over $10 billion by April 2021. This period solidified DeFi’s reputation, pushing blockchain into the mainstream.</p> <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="502" src="https://coindarwin.com/wp-content/uploads/2024/10/uniswap_v2_tvl-coindarwin-1024x502.webp" alt="" class="wp-image-384173" srcset="https://coindarwin.com/wp-content/uploads/2024/10/uniswap_v2_tvl-coindarwin-1024x502.webp 1024w, https://coindarwin.com/wp-content/uploads/2024/10/uniswap_v2_tvl-coindarwin-300x147.webp 300w, https://coindarwin.com/wp-content/uploads/2024/10/uniswap_v2_tvl-coindarwin-768x376.webp 768w, https://coindarwin.com/wp-content/uploads/2024/10/uniswap_v2_tvl-coindarwin-150x74.webp 150w, https://coindarwin.com/wp-content/uploads/2024/10/uniswap_v2_tvl-coindarwin.webp 1212w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure> <h2 class="wp-block-heading">UNI V3: The Struggle Against CEXs</h2> <p>By V2, UNI had set the standard for AMM DEXs, but it faced new challenges from centralized exchanges (CEXs). While AMMs offered a user-friendly experience, their capital efficiency was low, exposing users to impermanent loss risks.</p> <p>V3 introduced concentrated liquidity, allowing liquidity providers (LPs) to allocate their funds within specific price ranges, thus optimizing liquidity use. However, most LPs flocked to high-volatility ranges, leading to uneven liquidity distribution. Despite some improvements, UNI struggled against competing models like Trader Joe and Curve, which offered more effective liquidity solutions.</p> <h2 class="wp-block-heading">UNI V4: A New Chapter</h2> <p>Two years after <a href="https://coindarwin.com/reviews/decentralized-exchange/a-closer-look-at-uniswap-v3-new-features-enhanced-efficiency/" target="_blank" rel="noopener" title="A Closer Look at Uniswap V3: New Features, Enhanced Efficiency">V3</a>, UNI V4 emerged, prioritizing customization and efficiency. Its introduction of Hooks—smart contracts allowing developers to insert custom logic at various points in the liquidity pool lifecycle—represented a significant evolution.</p> <p>This version replaced the Factory-Pool architecture with a Singleton structure, reducing gas costs significantly. Although it positioned UNI favorably against its competitors, the increased complexity also risked market fragmentation and security vulnerabilities.</p> <h2 class="wp-block-heading">UNIChain: A New Direction</h2> <p><a href="https://www.unichain.org/" target="_blank" rel="noopener nofollow" title="UNIChain">UNIChain</a>, a recent major update, symbolizes a potential future where DEXs evolve into full-fledged public chains. Built on <a href="https://coindarwin.com/news/optimisms-fault-proof-system-officially-launches-on-mainnet/" target="_blank" rel="noopener" title="Optimism’s “Fault Proof” System Officially Launches on Mainnet">Optimism’s OP Stack</a>, UNIChain aims to enhance transaction speed and security while benefiting UNI token holders. Key innovations include:</p> <ul class="wp-block-list"><li><strong>Verifiable Block Construction</strong>: Utilizing Rollup-Boost technology for faster, secure block building while minimizing MEV risks.</li> <li><strong>UNIchain Verification Network (UVN)</strong>: Incentivizing validators through UNI token staking, promoting decentralization and security.</li> <li><strong>Intent-Driven Interaction Model (ERC-7683)</strong>: Simplifying user experience and streamlining cross-chain transactions.</li></ul> <p>In essence, UNIChain could reinforce the power of the OP Alliance while posing short-term challenges for Ethereum’s ecosystem.</p> <h2 class="wp-block-heading">Conclusion</h2> <p>As DeFi applications grow increasingly sophisticated, many DEXs are gravitating toward order book models, questioning the long-term viability of AMMs. While some view AMMs as a relic of a bygone era, they remain a vital part of Web3’s identity. UNI’s evolution reflects both progress and challenges, with questions about centralization and governance emerging as it matures.</p> <p>The path ahead requires careful consideration of how to coexist with rapidly growing entities in the Web3 landscape. Ultimately, UNI’s journey will shape the future of decentralized finance and its enduring legacy in blockchain.</p><p>The post <a href="https://coindarwin.com/reviews/decentralized-exchange/from-versions-to-impact-how-uni-shaped-blockchain/">From Versions to Impact: How UNI Shaped Blockchain</a> first appeared on <a href="https://coindarwin.com">CoinDarwin</a>.</p>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">384046</post-id> </item> <item> <title>From Cure to Poison: Why Permit Has Become a Source of Risk</title> <link>https://coindarwin.com/information/press-release/from-cure-to-poison-why-permit-has-become-a-source-of-risk/</link> <dc:creator><![CDATA[cd]]></dc:creator> <pubDate>Thu, 17 Oct 2024 18:13:04 +0000</pubDate> <category><![CDATA[Press Release]]></category> <guid isPermaLink="false">https://coindarwin.com/?p=382998</guid> <description><![CDATA[<p>We can't deny the value that Permit brings, but the increasing number of thefts lately also suggests that it seems to bring more harm.</p><p>The post <a href="https://coindarwin.com/information/press-release/from-cure-to-poison-why-permit-has-become-a-source-of-risk/">From Cure to Poison: Why Permit Has Become a Source of Risk</a> first appeared on <a href="https://coindarwin.com">CoinDarwin</a>.</p>]]></description> <content:encoded><![CDATA[<h2 class="wp-block-heading">1. What is Permit?</h2> <p>Let’s start with a little story about borrowing money:</p> <p>Imagine I want to borrow 1 million from my friend, Jack Ma. Without hesitation, Jack picks up the phone and calls the bank, confirming his identity and instructing them to authorize a withdrawal limit of 1 million for me. The bank records this authorization, and all I need to do is visit the bank, identify myself, and withdraw the authorized amount. If the bank can’t find the authorization, my request is denied.</p> <p>Now, let’s explore how this process changes with a different method—Permit. In this scenario, when I ask Jack for 1 million, he casually pulls out a check, fills in the amount, signs it, and hands it to me. I take the check to the bank, and even without an authorization record, the bank cashes it based on Jack’s signature.</p> <p>This illustrates the difference between Approve and Permit. Approve, an essential feature of ERC-20, has been widely used since Ethereum launched. But why was Permit introduced later through ERC-2612 to achieve the same effect?</p> <h2 class="wp-block-heading">2. Why was Permit Needed?</h2> <p>The <a href="https://eips.ethereum.org/EIPS/eip-2612" target="_blank" rel="noopener nofollow" title="ERC-2612">ERC-2612</a> proposal was introduced in March 2019 and finalized in October 2022. Its development coincided with several spikes in Ethereum’s gas prices. The market’s frenzy during bull runs led users to spend more on gas fees for faster transactions, where even a one-block advantage could mean substantial profit.</p> <p>However, this phenomenon created a burden for users, as the two-transaction process required for Approve became costly, especially for those with smaller funds. The introduction of Permit allowed for offline signing, eliminating the need for immediate on-chain authorization. This change meant that the authorization could be provided alongside the token transfer, akin to cashing a check without requiring prior bank approval.</p> <p>While this seemed beneficial—saving Jack a phone call and reducing user transaction fees—it inadvertently opened Pandora’s box.</p> <h2 class="wp-block-heading">3. The Rapid Rise of Risks</h2> <p>Before Permit, hackers often relied on phishing methods that required users to sign Approve transactions, which incurred gas fees and raised red flags. Even if users accidentally clicked, the time delay for on-chain transactions allowed them to reverse the action with a new transaction.</p> <p>Permit, however, changed the game. It eliminates gas fees, requiring only a signature, which lowers user vigilance. Since the signing is offline, hackers can take control and exploit the situation whenever they choose, maximizing their gains.</p> <p>The impact of this shift is evident in the rising number of phishing victims and the amounts stolen. According to @ScamSniffer:</p> <ul class="wp-block-list"><li>In 2023, phishing losses reached $295 million.</li> <li>By mid-2024, that figure had already surpassed $314 million.</li> <li>In Q3 2024, a significant incident involved a wallet falling victim to a Permit phishing attack, resulting in a loss of 12,000 $spWETH, valued at approximately $30 million.</li></ul> <p>Such outcomes were likely unforeseen by the developers who proposed Permit, initially aimed at reducing gas costs and enhancing user experience. What was intended to be a double-edged sword turned out to be a sharp knife, slicing through the protective barriers around users’ assets.</p> <p>Similar offline signing methods have emerged, such as Permit2 from <a href="https://coindarwin.com/information/press-release/what-is-uniswaps-newly-released-unichain/" target="_blank" rel="noopener" title="What is Uniswap’s Newly Released Unichain?">Uniswap</a>, which increases dependency on offline signing and amplifies phishing risks.</p> <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://coindarwin.com/wp-content/uploads/2024/10/What_is_Permit-coindarwin-1024x576.webp" alt="What is Permit?" class="wp-image-383108" srcset="https://coindarwin.com/wp-content/uploads/2024/10/What_is_Permit-coindarwin-1024x576.webp 1024w, https://coindarwin.com/wp-content/uploads/2024/10/What_is_Permit-coindarwin-300x169.webp 300w, https://coindarwin.com/wp-content/uploads/2024/10/What_is_Permit-coindarwin-768x432.webp 768w, https://coindarwin.com/wp-content/uploads/2024/10/What_is_Permit-coindarwin-390x220.webp 390w, https://coindarwin.com/wp-content/uploads/2024/10/What_is_Permit-coindarwin-150x84.webp 150w, https://coindarwin.com/wp-content/uploads/2024/10/What_is_Permit-coindarwin.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure> <h2 class="wp-block-heading">4. How to Protect Yourself</h2> <p>Facing this looming threat, users can take several precautions to mitigate losses:</p> <h3 class="wp-block-heading">1. Increase Awareness</h3> <ul class="wp-block-list"><li><strong>Stay Cautious of Airdrop Temptations</strong>: Airdrops can be enticing, but many are phishing attempts. Always verify the legitimacy of an airdrop through multiple sources before participating.</li> <li><strong>Avoid Blind Signing</strong>: If you inadvertently enter a phishing site and a transaction window appears, scrutinize the transaction details. Terms like Permit, Permit2, Approve, or IncreaseAllowance indicate potential authorization issues, warranting caution. Hardware wallets like Keystone can help by parsing and displaying transaction details, preventing impulsive actions.</li></ul> <h3 class="wp-block-heading">2. Utilize Tools</h3> <ul class="wp-block-list"><li><strong>ScamSniffer</strong>: This browser extension alerts users before entering suspicious URLs, allowing them to halt interactions promptly.</li> <li><strong>Revoke</strong>: <a href="https://revoke.cash/" target="_blank" rel="noopener nofollow" title="Revoke.cash">Revoke.cash</a> displays token authorization records in your wallet, advising users to revoke any suspicious or unlimited authorizations. Regularly cleaning up authorizations minimizes risks.</li></ul> <h3 class="wp-block-heading">3. Asset Isolation and Multi-Signature Wallets</h3> <p>The adage “don’t put all your eggs in one basket” applies to crypto assets as well. Store significant assets in cold wallets like Keystone, using small hot wallets for daily transactions. This way, even if one wallet is compromised, not all assets are at risk.</p> <p>For added security, multi-signature wallets can provide further protection. Assets can only be accessed with a predetermined number of wallet approvals, ensuring that a single compromised wallet won’t lead to total loss.</p> <h2 class="wp-block-heading">5. Conclusion</h2> <p>While we cannot deny the value that Permit brings, the increasing number of thefts suggests its risks may outweigh its benefits. Similar to the once-prevalent ethsign method, which was eventually abandoned due to security concerns, Permit now faces a critical moment. Developers must thoughtfully consider whether to enhance or abandon this method moving forward.</p><p>The post <a href="https://coindarwin.com/information/press-release/from-cure-to-poison-why-permit-has-become-a-source-of-risk/">From Cure to Poison: Why Permit Has Become a Source of Risk</a> first appeared on <a href="https://coindarwin.com">CoinDarwin</a>.</p>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">382998</post-id> </item> </channel></rss> If you would like to create a banner that links to this page (i.e. this validation result), do the following:
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