News

  • A popular proposal for “Terra Ecological Revival Plan”

    After a series of slumps and a death spiral, Terra’s revival plan has been put on the agenda, and there are many opinions. On May 14, Terraform Labs co-founder Do Kwon presented a proposal to protect the Terra ecosystem. His proposal comes in response to validators discussing the possibility of forking the Terra chain, which involves compensating UST and LUNA holders who were unable to sell their holdings during last week’s price crash. Do Kwon proposed that validators should reset network ownership to 1 billion tokens distributed to LUNA and UST…

    News 2022-05-16
  • Are cryptocurrencies heading for a “Lehman Brothers moment”?

    According to a report by the Los Angeles Times website on May 13, the cryptocurrency market is experiencing its worst sell-off since the market rebounded in 2020. Even some stable cryptocurrencies have plunged . Market experts say two main factors have driven the cryptocurrency market’s recent plunge: the Federal Reserve’s measures to combat high inflation and stabilize markets, and the implosion of the “earth” dollar stablecoin. To explain the first factor, let’s start with some macroeconomics. In early 2020, the Federal Reserve cut interest rates in response to a recession triggered by the coronavirus…

    News 2022-05-16
  • Let’s talk about algorithmic stablecoins after UST is caught in a death spiral

    TerraUSD (UST), which was once the third largest stablecoin in the world, collapsed quickly in recent days, which not only stirred the currency circle, but also attracted the attention of US Treasury Secretary Yellen. At the May 10 hearing, Yellen emphasized the need for a regulatory framework for stablecoins. She said the current regulatory framework “does not provide consistent and comprehensive standards for the risks of stablecoins.” Moreover, Yellen also specifically mentioned the UST’s significant de-anchoring. Due to the collapse of UST, the development of stablecoins has received a lot of attention from the…

    2022-05-16 News
  • Can community composability help Web2 users get into Web3?

    From Paris Hilton showing her NFTs on the *Tonight Show*, to ConstitutionDAO’s attempt to buy one of the only original copies of the US Constitution in the world, web3 has permeated mainstream culture. However, joining web3 is still a complex and confusing process for early adopters. There is a large group of digital natives — let’s call them “web2.5” — who are curious about encryption, but not enthusiastic enough to endure the complicated onboarding process. If web3 builders always require new web2.5 users to join unfamiliar web3s without assets, circles,…

    2022-05-16
  • LUNA event have to do with encryption VCs?

    This article is based on the views of Defiance Capital founder Arthur on his personal social media platform, and BlockBeats has compiled and translated it as follows: As an early participant and advocate of DeFi, I have always believed that a decentralized currency and network needs to be powered by a decentralized financial stack . Otherwise, we can only transfer crypto assets between centralized custodians. Many of the foundational DeFi protocols built during the ’18 and ’19 bear markets became known and thrived during this cycle, becoming the core financial foundation of other…

    News 2022-05-16
  • Tiger VC DAO: Anyone with a heart can be a VC

    In 1942, the renowned economist Joseph Schumpeter coined the term creative destruction. The core idea is that, over time, capitalism tends to shift the system toward efficiency in order to eliminate old technology and production systems, and build new ones, ultimately leading to economic growth. For the traditional venture capital industry, WEB3 is a “disruptive innovation”. The venture capital DAO breaks the original “centralized” structure, allowing any cooperative organization in the world to come together to start a venture capital fund, and the assets involved are all digital, which can be…

    News 2022-05-16
  • Web3: Our Opportunity for a Better Internet

    Foreword: The ideas of the late political philosopher John Rawls feature prominently in my worldview. Although Rawls’s massive book A Theory of Justice has been published for half a century, given the enormous role that Internet platforms have played in broadening people’s access to economic opportunities and increasing wealth inequality, Rawls’s views are The Internet age is still especially important. His work challenges us to apply the “veil of ignorance” in reasoning about the principles that determine the fair distribution of resources in society, which is increasingly relevant to discussions around Web3….

    News 2022-05-16
  • a16z partner to project founder: how to survive the market downturn

    The wind starts at the end of Qingping, and strong enterprises are always built in the most difficult times. During a market downturn, many blogs or Twitter posts offer the same advice: save cash, extend deadlines, and switch from focusing on growth to focusing on efficiency. When the market falls, however, founders need not cliché advice, but a tangible framework to reassess risk and value so they can focus on the next round of funding and the road ahead.  In this post, we’ll introduce the decision-making framework we share with founders:…

    News 2022-05-16
  • Where does the Terra Empire Fall Ecology Project go?

    The Terra ecosystem has begun to split, and many protocols on Terra are exploring new ways to migrate to other public chains. Looking back at Terra’s development in the past year, LUNA’s price reached a maximum of $119.18, and its market value once reached $41 billion. Its ecosystem has launched more than 100 projects, involving DeFi, Metaverse, games, NFT, etc., of which DeFi projects account for big head. According to DeFi Llama data, Terra’s TVL peaked at $31.35 billion, ranking second. Terra DeFi was also given the title of TeFi…

    2022-05-16 News
  • Bitcoin price has halved from the high point, is the extended bear market coming?

    The cryptocurrency market extended last week’s slide, in line with the general decline in the stock market. The data shows that as of May 16, the price of bitcoin has basically remained at around $30,000, and the price of bitcoin has fallen by more than half since it hit an all-time high of $67,802 in November last year. Meanwhile, Glassnode data shows that the number of BTC addresses in the red (7-day MA) reached an all-time high of 17,968,489.667. However, despite the market slump, the number of addresses holding more than 1…

    2022-05-16 Bitcoin News
  • Crypto market downturn El Salvador faces sovereign debt default risk

    Last week, the entire crypto circle should be paying attention to the results of the LUNA and UST death spiral and the impact on the entire crypto market, hoping that Do Kwon’s self-help plan will bring some improvement, although as the saying goes “Hold on, don’t die before dawn” .” But Luna dropped 100% from the historical high of $119 to $0.0{5}7. Some users who followed the trend and tried to hunt for the bottom, but experienced multiple cuts, the losses suffered may not wait until dawn, and eventually become…

    2022-05-16 News
  • How did the Web2 giant “Google” enter Web3?

    It can be understood in this way that whether it is creating a “blockchain wallet” or developing a blockchain node service (equivalent to “cloud services” in the Web2.0 era), both are infrastructures in the field of Web3, and even “entry points”. level” service. Google’s Web3 thinking is very clear, no matter how this new field develops in the future, it still wants to become an infrastructure in the new world. Why now? Some people in the industry provided another interpretation of Google’s layout of Web3: on the one hand, it is…

    2022-05-16
  • CertiK first release: encrypted version of lossless “reverse credit card” profit million dollar FEG flash loan attack incident analysis

    At 4:22:49 a.m. on May 16, 2022, Beijing time, the CertiK security technical team detected that FEG suffered a large-scale flash loan attack on the Ethereum and BNB chains , resulting in a loss of assets worth about $1.3 million. This attack is caused by a vulnerability in the “swapToSwap()” function, which directly uses the ” path” entered by the user as a trusted party without screening and validating the incoming parameters, allowing unauthenticated The “path” parameter (address) to use the current contract’s assets. Therefore, by repeatedly calling “depositInternal()” and “swapToSwap()”, the attacker can obtain permission to use…

    2022-05-16 News
  • SBF invests in Robinhood: Is it still far from acquisition?

    According to an official SEC filing, FTX founder Sam Bankman-Fried acquired 56 million Robinhood shares worth a total of $648 million at an average price of $11.52. The deal is understood to have started in mid-March and was finalized last Wednesday. SBF, which completed the acquisition through Emergent Fidelity Technologies Ltd., has a stake worth about $600 million based on HOOD’s closing price, according to the filing. The SBF acquisition has sent Robinhood shares soaring, up nearly 25% so far on Friday. Still, the stock is down about 40% this year and…

    2022-05-16
  • Terra Master Validator Calls for ‘Brand New Chain’ to Replace Terra

    As the dust settles from the collapse of the Terra ecosystem, the community decides what steps should be taken next. The CEO of a South Korean validator node operator believes that the old Terra chain should be shut down permanently. Jiyun Kim, CEO of blockchain solutions firm DSRV, has written an opinion piece on his own behalf detailing how the Terra team is cautiously considering the decoupling of the Terra USD (UST) stablecoin amid the LUNA price crash and the decoupling of the Terra USD (UST) stablecoin. The idea of ​​stopping…

    News 2022-05-16
  • What is a liquidity pool? (below) Operation of the liquidity pool

    Liquidity pools are the trading aspect of decentralized exchanges. Their role is to increase market liquidity among market participants. The fact that liquidity is so important is that it largely determines how asset prices move. In illiquid markets, a relatively limited number of open orders are open on all sides of the order book. This shows that a single trade can move the price sharply in any direction, making the stock unpredictable and unattractive. According to cici from Hoo Research Institute, liquidity pools are an important part of the decentralized finance (DeFi) revolution…

    News 2022-05-16
  • Comeback? Hackers profited about $1.3 million FEGexPRO contract was attacked

    On May 16, 2022, public opinion monitoring on the Bing-Blockchain Security Situational Awareness Platform of Chengdu Lianan Chain showed that the FEGexPRO contract of the FEGtoken project on Ethereum and BNB Chain was hacked, and the hacker made a profit of about 3280 BNB and 144 ETH. About $1.3 million . The Chengdu Lianan technical team analyzed the incident and the results are as follows. event related information This attack event includes multiple transactions, some of which are as follows: Attack Transaction (Part) 0x77cf448ceaf8f66e06d1537ef83218725670d3a509583ea0d161533fda56c063 (BNB Chain) 0x1e769a59a5a9dabec0cb7f21a3e346f55ae1972bb18ae5eeacdaa0bc3424abd2 (Ethereum) attacker address 0x73b359d5da488eb2e97990619976f2f004e9ff7c attack contract 0x9a843bb125a3c03f496cb44653741f2cef82f445 Attacked contract (part) 0x818e2013dd7d9bf4547aaabf6b617c1262578bc7 (BNB…

    2022-05-16 News
  • a16z Partner: Blockspace is the best product of the 2020s

    Chris Dixon, head of cryptography at a16z, said Blockspace is the “best product” of the 2020s. To that end, we asked him to explain why, and where we are headed. summary If you only have a few minutes, here’s what investors, operators, and founders should know about the block space, according to Chris Dixon. Blockspace is exactly what it sounds like, the space on the blockchain that can be used to store information and run code. The point is, it is different from the traditional computing space because hardware is…

    News 2022-05-16
  • Legal Risk Report of Virtual Digital Human Industry

    At the moment of the Metaverse craze, it is well known that Neil Stephenson created and detailed the concept of the Metaverse in his novel Snow Crash. But people who haven’t read “Avalanche” rarely know that Neil also created another great concept – the virtual avatar (Avatar) . Yes, Avatar is the transliteration of Avatar. This epoch-making film draws creative inspiration from this concept, so as to discuss with the audience Freud’s “id” and “self” in a fantasy world. and the philosophical concept of the “superego”, both fascinating and thought-provoking….

    2022-05-16 News
  • Web3 Stack Developer’s Guide

    At Alchemy, we define Web3 as a decentralized internet ecosystem based on blockchain technology. First, as developers and builders, we often bring up the concept of a fragmented tech stack when we understand decentralization. While Web3 is still nascent and growing rapidly, we are seeing its foundational building blocks starting to take shape. To better understand the inner workings of Web3 and the decentralized internet, let’s jump right into the Web3 development stack. Web3 stack overview At a high level, building any Web3 application requires a deep understanding of blockchain networks,…

    2022-05-16 News